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Trading Made Simple

  • #30,881
  • Feb 14, 2014 7:11am Feb 14, 2014 7:11am
Hi All, I been using this method on the 4 hour charts and had great results.

I see people are changing the method?? If it works don't fix it Anyway good trading and Forex Factory is the best resource for us traders.
  • #30,882
  • Feb 14, 2014 7:54am Feb 14, 2014 7:54am
Craig - that's great. May I ask which pairs you watching?
Everything you can imagine, is real - Pablo Picasso
  • #30,883
  • Feb 14, 2014 7:59am Feb 14, 2014 7:59am
Into the Pip Trade

entered GU trade long, entered after setup candle with bullish momentum and cross of TDI, concern was RN 1.67000, and PA as expected reacted to this psychological number a bit and struggled to pass through, finally after 5 hours TP is hit for +51 pips

Thanks you Phx62, Emmanuel and all those that helped us through our trading journey
Attached Image (click to enlarge)
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I Have Learned to Take Some Losses to Make Profits
  • #30,884
  • Feb 14, 2014 8:23am Feb 14, 2014 8:23am
Quoting emmanuel7788
{quote} yes, it is risky not to wait for TDI to cross. but if the following candle close LL, the TDI would have cross down, now it is not the case anymore. wait for NYO in about 20mins.
That set up was good in the end. With SL of 30 Pips, would be +30 at the moment.
Those who know don't talk. Those who talk don't know.
  • #30,885
  • Feb 14, 2014 8:50am Feb 14, 2014 8:50am
Dear Emmanuel ,

Sorry for asking for second time in reference to my previous post 30810 , is it possible what i am asking or it can't be done . I would really apreciate it. Also i was wondering in your opinion how long someone should demo it before moving to real money , i know until i you get the background but in average is my question. Thank you in advance for your help.
  • #30,886
  • Feb 14, 2014 9:19am Feb 14, 2014 9:19am
I say you should demo until you're profitable 3 months in a row minimum. Losing trades are OK as long as you end the month with positive result. Fail to do so, you count first month all over again.

Once you move to real money, also only trade 1/2 or 1/3 of what you really intended to risk until you're profitable 3 months in a row. Fail to do so, you go back to demo all over again.

I really want to emphasize this - do not rush. Take your time, be patience.
Everything you can imagine, is real - Pablo Picasso
  • #30,887
  • Feb 14, 2014 9:37am Feb 14, 2014 9:37am
the last couple of days LO and NYO always sideway it's so hard for me to find a good signal
  • #30,888
  • Feb 14, 2014 10:36am Feb 14, 2014 10:36am
Quoting Direwolf
I say you should demo until you're profitable 3 months in a row minimum. Losing trades are OK as long as you end the month with positive result. Fail to do so, you count first month all over again. Once you move to real money, also only trade 1/2 or 1/3 of what you really intended to risk until you're profitable 3 months in a row. Fail to do so, you go back to demo all over again. I really want to emphasize this - do not rush. Take your time, be patience.
I beg to differ, demo can be a two edged knife. You can be a forex god on demo and lose everything the first second you start trading real money. Best way to do it, is open a proportionally tiny account and trade real money until you're consistent... THEN you get to trade a bigger account with bigger lots.

In my opinion, you have to actually pay for your mistakes to learn from them, I don't think demo teaches you anything besides how to work the platform you're using and to test out indicators... Inb4 s#@!storm

Quoting leonora
the last couple of days LO and NYO always sideway it's so hard for me to find a good signal
Adapt or die... Choose pairs that move more or trade other sessions until things are back to normal. Or trade TMS on M5. Same principles apply, just for smaller gain.
  • #30,889
  • Feb 14, 2014 10:53am Feb 14, 2014 10:53am
Quoting hugecat
{quote} Good one. I'm also working with E/J. This method is profitable on this pair.
Thank you hugecat. I think E/J is good for anyone would like to practice this method. I am only working on one pair at a time. Mostly I look for PCRF
candles, double tops, triple tops and bottoms. Did you review phx62 PDF's yet? I think if we know the market equilibrium and apex with TMS, we can all be very rich I think some of the experts in this thread already have it (phx62, emmanuel7788, Imi etc).

Hoperich
  • #30,890
  • Feb 14, 2014 3:46pm Feb 14, 2014 3:46pm
Picked up a couple of nice trades today (last night for me) on the EUR/AUD....one during the Asian session and one shortly after London opened.
Attached Image (click to enlarge)
Click to Enlarge Name: 2014.2.14 ea h1 (channel).png Size: 50 KB
  • #30,891
  • Feb 14, 2014 7:11pm Feb 14, 2014 7:11pm
Quoting alex8585
Dear Emmanuel , Sorry for asking for second time in reference to my previous post 30810 , is it possible what i am asking or it can't be done . I would really apreciate it. Also i was wondering in your opinion how long someone should demo it before moving to real money , i know until i you get the background but in average is my question. Thank you in advance for your help.
Hi Alex,

I will reply you later. First I need to read all your previous posts to get a better picture and thereafter I can think of a way to help you.
Give me some time.

In the meantime, other members here have shared their views and you should also read them.

regards,

EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #30,892
  • Feb 14, 2014 7:24pm Feb 14, 2014 7:24pm
Quoting hugecat
{quote} That set up was good in the end. With SL of 30 Pips, would be +30 at the moment.

that trade went nowhere as we can see the price is caught in very narrow range within the 5 period PAC.

we see in H4 that there is a contracting triangle forming but is not complete, we want to see a 5-waves to take the next trade.

D chart is also showing sideways market type.

I see this as an opportunity for a breakaway next week, so we should update our Big Picture Plan for EJ.

Read post#30,659 and that attachment.

regards,

EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #30,893
  • Feb 14, 2014 9:31pm Feb 14, 2014 9:31pm
Quoting 1kato
{quote} Anyone else having problems downloading indicators? MT4 update?
I downloaded Sonic SHI Channel MTF.mq4 into indi folder but it has not gone in to custom indi's on platform
I have build 604 , can anyone help please ?
  • #30,894
  • Feb 14, 2014 10:02pm Feb 14, 2014 10:02pm
Quoting Phx62
Picked up a couple of nice trades today (last night for me) on the EUR/AUD....one during the Asian session and one shortly after London opened.{image}
Hi Phx.

When you enter a pull back mid candle, how do you determine when to enter? I try to wait for a break of previous candle but in many cases you were able to catch the trade even before the break.

Both your trades were really close to 200 EMA, how did you determine whether the price would break EMA? Was it the time of the candles? Japan and London open?
Everything you can imagine, is real - Pablo Picasso
  • #30,895
  • Feb 14, 2014 11:40pm Feb 14, 2014 11:40pm
Dear Big EMU

EURAUD

WK Candle = A solid Bear= Bearish

D Candle = Formed an inside bar = [ 1sec left ]= Bull/Bearish?

H4 = Just broke MC= Bearish

H1 = About to break an MC= Bearish

How should i interpret this

please shed some light on it.....


Or am i seeing wrong?

Regards

omonisha
Attached Image (click to enlarge)
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Sad i'm not trying to understand PA
  • #30,896
  • Feb 14, 2014 11:57pm Feb 14, 2014 11:57pm
Quoting Direwolf
{quote} Hi Phx. When you enter a pull back mid candle, how do you determine when to enter? I try to wait for a break of previous candle but in many cases you were able to catch the trade even before the break. Both your trades were really close to 200 EMA, how did you determine whether the price would break EMA? Was it the time of the candles? Japan and London open?
A. If you have read some of my previous posts, I have explained that one thing I look for is for the high or low of the London session to be made during the first couple of hours of the London session. Based on hundreds of hours of testing and experience, I determined that the high of the session was probably set by the Frankfurt candle because the LO candle pulled back below the trend line, so when the LO candle moved below the halfway point of the set up candle, I entered. The TDI green was touching the red at the open of that candle and pointing sharply down.
On the previous trade, I waited for the 1st red candle to break below the setup candle. TDI green was pointing down and was crossing gold but had not yet reached the red line.
B. As I stated a couple of posts ago, I am testing channels to determine if properly set channels or trend lines can provide good targets at least 70% of the time. I am still testing but in the case of these two trade, price reached the targets I had set, so instead of going for my normal TP of 50 pips, I reached for the target line. I still have lots of research and testing to do, in order to determine if this is, in fact, a feasible addition to my trading plan. I am not changing my trading plan. I has been very successful for me. I just want to simplify things a bit if I can trade with the big picture trend and take trades that move in the direction of the trend. I already know that trend trading is more successful than countertrend trading (unless you get the proper signals to countertrend trade).
C. The 200 EMA was not a factor in either of these trades. In my opinion, the bounce off the top trend line was more powerful than the 200 EMA. Price had already bounced a couple time off the 200 and the H4 downtrend was strong.
Hope this answers your questions.
  • #30,897
  • Feb 15, 2014 3:27am Feb 15, 2014 3:27am
Quoting robuk
{quote} I downloaded Sonic SHI Channel MTF.mq4 into indi folder but it has not gone in to custom indi's on platform I have build 604 , can anyone help please ?

which indicator folder did you copy this to?

in the new build 600 and above, there is a new folder name MQL4 with several sub-folders in there.

if you had copied the .mq4 to the new build 600, you will most likely get compilation errors and the .ex4 won't be running correctly.

so you should only copy the original build 509 compiled .ex4 files to the correct new build 600 MQL4 folders.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #30,898
  • Feb 15, 2014 4:14am Feb 15, 2014 4:14am
Quoting omonisha
Dear Big EMU EURAUD WK Candle = A solid Bear= Bearish D Candle = Formed an inside bar = [ 1sec left ]= Bull/Bearish? H4 = Just broke MC= Bearish H1 = About to break an MC= Bearish How should i interpret this please shed some light on it..... Or am i seeing wrong? Regards omonisha {image}

Hi omonisha,

Relaxing after my dinner and find time to do a post mortem of last week 07.

You should look at the real price candles other than just the APB/HA.

Using this POMO, I hope you can see my approach how I trade each week.

Forming a bias using the higher TF W1 to look fior 4H swing traded and for intraday , use the D1 to pick trades in lower H1 TF.

I use the MN and W1 close prices whwre I see significant price swings. These are what I call historical proice levels which can play at support and resistance. But on the lower TF, we will see priaction action usually move past these historical support and resistance levels by as much as 100 pips and more in the case of thie EURAUD pair.

On lower TF H4 and H1, I use the Prev W Fib levels and also the RN 00, 25, 50, 75 and look for CONFLUENCE of these with the historical support and resistance. This is where I would look for price consolidation and candlstick pattern for trading the breakouts.

Look at my 4-charts below:

Learn from my post mortem of week 07 and see the trade opportunities and apply the same approach next week.

The 1.5164 is key level to watch out next week as this played as support this week.
Any break lower we should target the 1.4900 level which is the next nearest support. This will be my Plan A.

Plan B, would be a bullish reversal from this 1.5164 in case we see a weak AUD. A bullish week 08 will mean we should see price moving higher breaking last week High and to target the Prev W Fib 127%. There is a D1 IB and that is a 50% retracement of 13 Feb rally. This is what I will be looking at closely.

Attached Image (click to enlarge)
Click to Enlarge Name: EA week 07 POMO.png Size: 187 KB



Trade Well.

EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #30,899
  • Edited 4:58am Feb 15, 2014 4:36am | Edited 4:58am
Quoting Direwolf
{quote} Hi Phx. When you enter a pull back mid candle, how do you determine when to enter?......
Hello Direwolf,
I too was nowhere near entering when Phx62 did at LO, but here's some wisdom after the event:
In Vantage's post above (30804) he tells us that EurAud loves the weekly pivots (see the rejection on 15m), Imi has told us that the third touch of the trendline (H4 in this case) can be the strongest and 1.5240 is historical s/r.

And all this at LO.

Always learning.

Kan
Thanks for your help, warmth and straight talking Heather.
  • #30,900
  • Feb 15, 2014 4:54am Feb 15, 2014 4:54am
Quoting emmanuel7788
For those of you who want to look at charts with different timeframes All-In-One like the pic posted below, download the indicators and template to your MT4 installed folder. {image} {file} {file} {file} {file} {file}

Hi emmanuel

my chart is not like yours , all indicators and the template are in place , why i don't have the TDI indicator for other frames ??
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