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Trading Made Simple

  • #30,761
  • Feb 12, 2014 6:38pm Feb 12, 2014 6:38pm
Quoting emmanuel7788
{quote} Obid, news aside, it is not a good idea to sell against a previous day bullish close and also when price broke a recent resistance 0.9010 and that acted as support which you sold into. that H4 candle setup and TDI cross down looks valid but some of these type of setups do fail. Therefore I prefer to look to the higher timeframes W1 and D for bias when I take any counter trend trades. take a look at the weekly candles and see the recent support and resistance. {image}
Thank you Emmanuel...
  • #30,762
  • Feb 12, 2014 6:54pm Feb 12, 2014 6:54pm
Quoting emmanuel7788
{quote} The D pullback candle wasn't nice and my EU trades got stopped out at the below Monday' low. Total 342 pips with mtuliple positions. {image} My GU trades were closed before NYO. Total 440pips with multiple positions. {image} Overall, these trades yield 13% ROE in 5 trading days from 6 Feb to 12 Feb. This completes one cycle which 10% profit cycle per 20 trading days.
Dear Emmanuel,

It seems that GU trade is closed while strong tdi cross with strong bullish candle are in your favor. Did you consider any other factor than NYO for exit ?

Thanks
Manoj
  • #30,763
  • Feb 12, 2014 7:06pm Feb 12, 2014 7:06pm
Quoting manoj_3986
{quote} Dear Emmanuel, It seems that GU trade is closed while strong tdi cross with strong bullish candle are in your favor. Did you consider any other factor than NYO for exit ? Thanks Manoj

Hi Manoj,

That was a Timed Exit after I had ealier move my TP and to trail the market. For a Timed Exit, I will exit before a market session changover and when my planned 10% profit cycle has been reached. There after I can allocate my capital to other trade opportunities.

Note: Timed Exit is one of the exit strategy taught by Dr Van Tharp.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #30,764
  • Edited 7:42pm Feb 12, 2014 7:24pm | Edited 7:42pm
Quoting Phx62
..... Now there is some divergence showing on the H1 chart. With some price action, we might get a break back up to the top channel line for a countertrend trade. ..... {image}{image}


EA 1H
Attached Image


EA 4H
Attached Image
Simplicity is the ultimate sophistication - Leonardo da Vinci
  • #30,765
  • Feb 12, 2014 7:54pm Feb 12, 2014 7:54pm
Lots of nice AUD moves. I was already in a daily AUDNZD trade so I didn't take any of them on H1.

GJ is moving down after TDI crossed and HA color changed. Was looking at it but was hoping there'd be more reason to enter than just those 2. Looks like TDI and HA alone were more reliable than I thought.
Everything you can imagine, is real - Pablo Picasso
  • #30,766
  • Feb 12, 2014 8:24pm Feb 12, 2014 8:24pm
4 trades this morning on EUR/AUD H1 & AUDUSD H1.Total +94 pip

If anyone have an indicator to get actual figure of news before update on Forex factory,Could you pls share it?

Thanks
Helanka
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Helanka
  • #30,767
  • Feb 12, 2014 9:57pm Feb 12, 2014 9:57pm
So far +190 pips, moved stop loss to break even +40 pips
There is some resistance if we see on the left, Will it cross it?
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I am not random, U just can't think as fast as me....
  • #30,768
  • Feb 12, 2014 10:03pm Feb 12, 2014 10:03pm
This one going good too.
Crossing MBL is a good sign
+30 so far
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I am not random, U just can't think as fast as me....
  • #30,769
  • Feb 12, 2014 10:06pm Feb 12, 2014 10:06pm
Entered it on last night, Going good this one too.
+60 pips so far
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I am not random, U just can't think as fast as me....
  • #30,770
  • Feb 12, 2014 10:09pm Feb 12, 2014 10:09pm
Quoting thinkpad123
Entered short On Crude oil Second Candle TDI crossing down red line, MBL and 68 level Divergence Against the trend but took this because there is two bar reversal pattern on candlesticks i hope it will go well. {image} {image}
This one going great too
+50 pips so far
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I am not random, U just can't think as fast as me....
  • #30,771
  • Edited 11:07pm Feb 12, 2014 10:11pm | Edited 11:07pm
I m +320 pips in total on all of above trades
Any reason of exiting any of above trade u guys can see from above charts?
I am not random, U just can't think as fast as me....
  • #30,772
  • Feb 12, 2014 10:29pm Feb 12, 2014 10:29pm
Entered On Gold at 1290
Tp#1 on 1277
Tp#2 on 1262
Stop Loss on 1303

Reasons for entry:
TDI Bounce
Divergence
Strong resistance at 1293-1296 area
Trend Feels Like Exhausted, All lines on 68 area
Apart from all above, Gold manipulation is on very large scale so anything can happen in this.
TMS
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Price Action
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I am not random, U just can't think as fast as me....
  • #30,773
  • Feb 12, 2014 10:34pm Feb 12, 2014 10:34pm
nice trade Thinkpad!
Everything you can imagine, is real - Pablo Picasso
  • #30,774
  • Feb 12, 2014 10:53pm Feb 12, 2014 10:53pm
Quoting emmanuel7788
{quote} thinkpad123: That is not a problem with the blue VB lines just a matter how that TDi version you use is coded. The VB are there for good reasons so learn to trade using them. They alert you when price goes outside the VB lines, and you can spot high probability reversals using them with divergence.
Thanks for Help ,
You are like BIG EMU to us now , I hope u dont mind the Title
You are putting a lot of work here for others, God bless you.
I am not random, U just can't think as fast as me....
  • #30,775
  • Feb 12, 2014 11:22pm Feb 12, 2014 11:22pm
Quoting Direwolf
nice trade Thinkpad!
Thanks
I have entered on GJ, E/Cad and G/Chf too but thought of not sharing charts because looking on some last pages it seems i am cluttering the thread.
Actually I wanted to discuss entering trades and reasons for entering then as trade progress reasons for staying in trade or reason if i am thinking to exit trade. At the last Charts after closing trade but I use 4HR charts and trade 11 pairs and when there is a setup on one , i find a setup on 3 or more other charts too. So posting this much charts may clutter the thread in my opinion.
Currently I am in nine trades and all going perfect as u can see below,
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Thank to TMS, Big E and Big EMU
I have learnt a lot from them.
One thing I am working on still is on exiting a trade at the right time.
The rule i follow is that I check Every 4 hours my charts and see if TDI green line tweaked or not, If it shows some flatness, I look at other things like is there any round number ahead, resistance, news, daily, weekly or monthly high. If anything was there i usually consider collecting all or partial profits from the trade.
Usually I don't use TP and only exception is gold.
Most of the time I want to ride the trend but often find myself giving back the profits to the market if i stay longer in trades.
I am not random, U just can't think as fast as me....
  • #30,776
  • Feb 12, 2014 11:35pm Feb 12, 2014 11:35pm
Quoting thinkpad123
{quote} Thanks for Help , You are like BIG EMU to us now , I hope u dont mind the Title You are putting a lot of work here for others, God bless you.



Attached Image


EMU is a big bird, haven't seen one near where I lived for quite a long while.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #30,777
  • Feb 12, 2014 11:39pm Feb 12, 2014 11:39pm
Quoting spiritboy
{quote} Hi Phx62 , great to see you back all refreshed and raring to go! Can i ask what made you look into channel trading, i only ask because as we know we always have to be looking and learning but it seemed to me that you already hit a level of trading that most people dream of. I`m not grumbling though as i love learning from you so i will eagerly check your posts. Am i right in thinking that incorporating your plan into TMS you can spot when you can let the trade run longer? Thanks, Shane.
No, I'm not trying to re-invent the wheel. You are correct, I am just trying to determine if channels can help me find reliable big move targets....still testing for now but there was a strong break up over the divergent line that moved well past the channel line. I was able to get in and pick up 130 pips on that move tonight. Off to bed now....success to you in your trading.
  • #30,778
  • Feb 12, 2014 11:40pm Feb 12, 2014 11:40pm
Quoting thinkpad123
I m +320 pips in total on all of above trades Any reason of exiting any of above trade u guys can see from above charts?
Very good trades as I see them on your charts.
You should follow your exit strategy as what you had planned when you decided take those trades.

Do you trade a basket of currencies? or you spread your risk over several pairs.
Do not over expose when you up-size your lot size. That can damage your account very fast.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #30,779
  • Feb 12, 2014 11:51pm Feb 12, 2014 11:51pm
Quoting emmanuel7788
{quote} {image} EMU is a big bird, haven't seen one near where I lived for quite a long while.
HAHAHAHA Didn't know that it is a name of a bird but it Suits you
I am not random, U just can't think as fast as me....
  • #30,780
  • Feb 12, 2014 11:56pm Feb 12, 2014 11:56pm
Quoting emmanuel7788
{quote} Hi Manoj, That was a Timed Exit after I had ealier move my TP and to trail the market. For a Timed Exit, I will exit before a market session changover and when my planned 10% profit cycle has been reached. There after I can allocate my capital to other trade opportunities. Note: Timed Exit is one of the exit strategy taught by Dr Van Tharp.
Thanks.
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