Attachments: Trading Made Simple

Trading Made Simple

#30,961
Feb 17, 2014 3:38pm Feb 17, 2014 3:38pm

emmanuel7788
Joined Nov 2008 | Status: Trader | 50,193 Posts

Quoting 4Good

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entered GU early today for a +30pip pick still moving down right now {image}

Ignored

Hi 4Good,

We see a price pull back or correction after last week bullish rally.There is no reversal seen yet as it will take another 2 days candles to confirm a bearish reversal.
On my MN charts, there is a historicla swing level 1.6703 and this being tested now but the MN candle is not yet close. We should be watching in the lower TF to see how price reactsaround this levels and pick some small trades on H4 and also H1.

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Name: GU MN view week 08 BPP.png
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I did a H4 trade entry, sort of late entry as I missed the timing when that H4 IB closed. but the 3-bar reversal pattern was good setup for me. Target TP is near Prev W Fib 50%. There may be consolidation before the next big move, so I need to watch this H4 trade this week as it may go sideways. Tomorrow UK time, we have UK date release and also Tokyo has BOJ conference today, it will affect GBP escpecially GBPJPY and may drag this GU along.

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Name: GU H4 week 08 trade.png
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Trade Well.

EMMANUEL

Honesty is a very expensive gift. You wont find it in cheap people.WBuffett

#30,962
Feb 17, 2014 3:57pm Feb 17, 2014 3:57pm

emmanuel7788
Joined Nov 2008 | Status: Trader | 50,193 Posts

Quoting Frenchie

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Hi, I have a question on the action once the H4 candle closes. Pls check my below example: The 2nd red candle closes with a TDI direction of 16:00. So I would maintain the position. However on open of the 3rd red candle, the TDI shows more or less immediately an initial 14:00 TDI which usually would mean to leave as it is a “hook over”. Now, what do I pay attention to really here: TDI direction at the close of the 2nd candle? Which means I hold and check again in 4 hours on how TDI looks at the end of the 3rd candle. So is it always the TDI direction...

Ignored

Hi Frenchie,

We use the analog clock face to reference what is TDI 12-2 and TDI 4-6.
You use digital clock 16:00 ... ?

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Name: TDI clock face 12-2 4-6.png
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The TDI is calculated using the Close price, hence technically we should wait for that candle to close and the TDi will confirm that candle.
What is more important is to read the candles, - its size, the high-low, the open-close, upper shadow, lower shadow, ..... and see each candle in relation to the previous candle before that. The TDI set to period 13 uses the past 13 candle to do its calculation.

With more screen watching candle movement, you will know many 'what if' scenarios with candles moving up and down.
If a candle make a 50% pull back at the last seconds at the Close, the TDI will react rapidly and hook backwards.

Honesty is a very expensive gift. You wont find it in cheap people.WBuffett

#30,963
Feb 17, 2014 4:00pm Feb 17, 2014 4:00pm

Lane
| Joined Oct 2013 | Status: Trader | 121 Posts

Quoting emmanuel7788

Disliked

I did a H4 trade entry, sort of late entry as I missed the timing when that H4 IB closed. but the 3-bar reversal pattern was good setup for me..

Ignored

Could you clarify something, since you mentioned entering relative to IB close. Would you enter right at IB close or wait for the break of the IB (the previous blue candle)? I entered after the break, just wondering if entry right after IB close would be too aggresive.

I am still in this trade, potential TP around 1.6650 and 1.6600. Tomorrow is GBP news, I'm not really sure if I should stay in, or exit and trade the news.

#30,964
Feb 17, 2014 4:14pm Feb 17, 2014 4:14pm

emmanuel7788
Joined Nov 2008 | Status: Trader | 50,193 Posts

Quoting forexpiet

Disliked

Simulation AUDUSD 2010 Januari To gain experience I started a simulation on AUDUSD. In the screenshot you see my entries marked with vertical lines. Green = no loss. Red = loss. First yellow line: missed positive trade. Second yellow line: negative HA bar, TDI pointing up so no trade. As in the past I had (and I still do have) troubles reading PA I started to trade every TDI signal as described. I do this to learn not to think / expect the market something to do but "just trade on a signal". Maybe form this excercise I will learn and see what works...

Ignored

Hi forexpiet,

Good work and sharing. Thanks.
This is what we learn from back-testing with historical data charts.
The next step should be doing forward testing in realtime live market, and use demo money like real account money and use a risk model.

My thoughts:
In the book The Art of War,

Sun Tzu said:
Know the other and know yourself
Fight one hundred battles without danger.

Know not the other and yet know yourself
One victory for one defeat.

Know not the other and know not yourself
Every fight is certain defeat.

What has this to do with trading the markets? ... well, plenty.

I did backtesting using different broker server time GMT+0. GMT+1, GMT+2 all with different H4 candles. All resulted in losses when we simply trade the TDI crosses for entry.
Two things were missing in all my testing.
1. Multi Timeframe reconciliation was not used, simply I did not consider the next higher timeframe what the market bias were.
2. Timing - I did not consider the market sessions, the price behaviour at opening times and closing times.
3. I did not consider the market psychology.
... a lot more we did not consider when back-testing.

Regards,

EMMANUEL

Honesty is a very expensive gift. You wont find it in cheap people.WBuffett

#30,965
Feb 17, 2014 4:20pm Feb 17, 2014 4:20pm

forexpiet
| Joined Apr 2006 | Status: Trader | 238 Posts

Simulation of Februari AUDUSD. 250 pips range market. I did 10 trades, 1 loss. The loss was for 100 pips, hit by the candle after opening. Should move my intial stop of 100 pips right after opening to the level I want it to be.
Not all entries were exactly conform TMS original entry rules, but almost. I started already to develop some own entry methods using TDI. Seems a lot of movement has happened before a signal is generated. So sometimes I would like to enter earlier. But I will try to do some more simulation according TMS rules first.

I do no know whether someone benefits from these postings. If not just let me know then I will stop posting simulation "results".

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Posting Demo charts, mirroring some of them live.

#30,966
Feb 17, 2014 4:44pm Feb 17, 2014 4:44pm

emmanuel7788
Joined Nov 2008 | Status: Trader | 50,193 Posts

Quoting Lane

Disliked

{quote} Could you clarify something, since you mentioned entering relative to IB close. Would you enter right at IB close or wait for the break of the IB (the previous blue candle)? I entered after the break, just wondering if entry right after IB close would be too aggresive. I am still in this trade, potential TP around 1.6650 and 1.6600. Tomorrow is GBP news, I'm not really sure if I should stay in, or exit and trade the news.

Ignored

Hi Lane,

Excellent question and pointers.

There are different way to trade those Inside Bars. Some traders are agrresive, while other are lese aggressive, ...it is all relative.

The pdf attachment in post# 20,112 show an aggressive way.

But I was taught to look at the Mother Bar, i.e that bar before the Inside Bar. Look at the Mother Bar OHLC, the shadow where the IB opens.
In thei GU example, the IB was after a price pull back from its high alomost same range to the body. IB reversals are more risky than IB continuation, therefore we need to mitigate this higher risk. How?

Usually I wait for the break of the mother bar high or low, in this case should be the low, for the first initial entry. The bar after that IB was too strong hence price was farther away but that was a good entry beacsue it covers the weekend gap.

Note: I look at the real price bar / candlesticks for all my entries.

Since we have high impact news today, we need to reduece the overall risk of this trade. Depens on how much it moves, I will scale out partial to cover some risk and keep my initial Sl where it is. The objective it to reduce the inital R to 0.5R in so doing. We play again after the news release.

Trade Well.

EMMANUEL

Honesty is a very expensive gift. You wont find it in cheap people.WBuffett

#30,967
Feb 17, 2014 4:55pm Feb 17, 2014 4:55pm

Noosaville
| Joined Dec 2011 | Status: Trader | 33 Posts

I have just got a new computer and in the process of trading again after a 12 month break. I had a quick look at previous posts to see if anyone raised the problems of installing templates & indicators since the MT4 Build 600 was introduced, as the coding needs to be modified. I looked at Post#1 and decided none of the original charts and indicators would work effectively considering the modification to MQL4. Am I on the right track? Are there any posts with the latest coding.

#30,968
Feb 17, 2014 4:59pm Feb 17, 2014 4:59pm

emmanuel7788
Joined Nov 2008 | Status: Trader | 50,193 Posts

GBPAUD and GBPNZD showed some nice entries.

Anyone taken those?

Honesty is a very expensive gift. You wont find it in cheap people.WBuffett

#30,969
Feb 17, 2014 5:07pm Feb 17, 2014 5:07pm

emmanuel7788
Joined Nov 2008 | Status: Trader | 50,193 Posts

Quoting Noosaville

Disliked

I have just got a new computer and in the process of trading again after a 12 month break. I had a quick look at previous posts to see if anyone raised the problems of installing templates & indicators since the MT4 Build 600 was introduced, as the coding needs to be modified. I looked at Post#1 and decided none of the original charts and indicators would work effectively considering the modification to MQL4. Am I on the right track? Are there any posts with the latest coding.

Ignored

Noosaville,

Good start with a new PC.

Best thing to do is to copy the entire MT4 installation to the root directory of your C: drive, then create a shortcut to that MT4 Terminal.exe and place that in your Desktop.

Skip those Windows folder where it install programs.

When you have MT4 updated to Build 600 above ( see 610 is the most current) , look for thet MQL4 subfolder and that's where all the Expert Advisors, Indicators, Scripts, etc.. located, and should be copied to the correct folder of its own.

The templates remain in the MT4 root directory. ... templates folder.

ALL the indicators posted here compiled using Build 509 and lower will run in the new Build 600. Just copy the .ex4 files and not the .mq4 files. Build 600 compiling some old indicator may flag errors and then it will go kaput.

Trade Well.

EMMANUEL

Honesty is a very expensive gift. You wont find it in cheap people.WBuffett

#30,970
Feb 17, 2014 5:10pm Feb 17, 2014 5:10pm

emmanuel7788
Joined Nov 2008 | Status: Trader | 50,193 Posts

Quoting forexpiet

Disliked

Simulation of Februari AUDUSD. 250 pips range market. I did 10 trades, 1 loss. The loss was for 100 pips, hit by the candle after opening. Should move my intial stop of 100 pips right after opening to the level I want it to be. Not all entries were exactly conform TMS original entry rules, but almost. I started already to develop some own entry methods using TDI. Seems a lot of movement has happened before a signal is generated. So sometimes I would like to enter earlier. But I will try to do some more simulation according TMS rules first. I do...

Ignored

Forexpiet,

it's good for me.

Keep posting your work here and back testing results. I benefit from seeing how you back tetsted this method and comparing with what I did before.
Others will benfit too when they see that it requires hard and diligent work to become successful both in life and in trading the markets.

regards,

EMMANUEL

Honesty is a very expensive gift. You wont find it in cheap people.WBuffett

#30,971
Feb 17, 2014 5:12pm Feb 17, 2014 5:12pm

Amirsaid
| Joined Jul 2012 | Status: Trader | 118 Posts

HELLO BROTHERS ANY BODY HAVE THE SET FILE FOR
THV CaveManager v1.41

I NEED AFTER 20 OR 25 PIPS MOVE THE SL SAVE TAHT 20 PIPS

AND BE ALSO 5 PIPS

TAHNKS IN ADVANCE

#30,972
Feb 17, 2014 5:12pm Feb 17, 2014 5:12pm

emmanuel7788
Joined Nov 2008 | Status: Trader | 50,193 Posts

EJ is moving slowing ahead of he BOJ conference today Tokyo time. Watch that contracting triangle top trendline, wait and see if that breaks and get re-tested.

Honesty is a very expensive gift. You wont find it in cheap people.WBuffett

#30,973
Feb 17, 2014 5:15pm Feb 17, 2014 5:15pm

Bizzzle
| Additional Username | Joined Sep 2013 | 652 Posts

Quoting Bizzzle

Disliked

GJ 4 hour Is this a good trade? Everything looks good on the 4 hour....!! What's the daily look like? {image}

Ignored

Looks like the bulls are back

Give yourself a chance and trade it like it's layed out...

#30,974
Feb 17, 2014 5:19pm Feb 17, 2014 5:19pm

emmanuel7788
Joined Nov 2008 | Status: Trader | 50,193 Posts

Quoting Bizzzle

Disliked

{quote} Looks like the bulls are back

Ignored

Bulls are defending their Tokyo Monday open level .....

Honesty is a very expensive gift. You wont find it in cheap people.WBuffett

#30,975
Feb 17, 2014 5:26pm Feb 17, 2014 5:26pm

Lane
| Joined Oct 2013 | Status: Trader | 121 Posts

Quoting emmanuel7788

Disliked

{quote} Hi Lane, Excellent question and pointers. There are different way to trade those Inside Bars. Some traders are agrresive, while other are lese aggressive, ...it is all relative. The pdf attachment in post# 20,112 show an aggressive way. But I was taught to look at the Mother Bar, i.e that bar before the Inside Bar. Look at the Mother Bar OHLC, the shadow where the IB opens. In thei GU example, the IB was after a price pull back from its high alomost same range...

Ignored

To be honest, during Big Picture Planning I saw GU was really overbought and hitting a level last seen in 2011, I was looking for any bearish sign, despite being aware how risky it is to take IB as reversal signal. In this particular case the difference between IB close and mother candle break was around 20 or so pips so who cares. I had "high hopes" for a swing trade but only later I saw the calendar... So I guess we're waiting for the news to kick it up a notch.
I'll scale out and make a tighter SL on remaining position and probably put another sell stop to trade the news, and merge the two trades provided I don't get stopped out on the first one.

PS - Could you elaborate on GA and GNZ?

#30,976
Feb 17, 2014 5:29pm Feb 17, 2014 5:29pm

Valentinik87
| Joined Jun 2013 | Status: Trader | 55 Posts

Quoting emmanuel7788

Disliked

{quote} Hi 4Good, We see a price pull back or correction after last week bullish rally.There is no reversal seen yet as it will take another 2 days candles to confirm a bearish reversal. On my MN charts, there is a historicla swing level 1.6703 and this being tested now but the MN candle is not yet close. We should be watching in the lower TF to see how price reactsaround this levels and pick some small trades on H4 and also H1. {image} I did a H4 trade entry, sort of late entry as I missed the timing when that H4 IB closed. but the 3-bar reversal...

Ignored

Hello Emmanuel, I'm happy to see that I took the same trade, H4 inside bar breakout and managed in h1

Attached Image (click to enlarge)

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Name: gbpusdh1.png
Size: 36 KB

#30,977
Feb 17, 2014 6:05pm Feb 17, 2014 6:05pm

Fx94
| Joined Apr 2013 | Status: Trader | 146 Posts

Quoting Amirsaid

Disliked

HELLO BROTHERS ANY BODY HAVE THE SET FILE FOR THV CaveManager v1.41 I NEED AFTER 20 OR 25 PIPS MOVE THE SL SAVE TAHT 20 PIPS AND BE ALSO 5 PIPS TAHNKS IN ADVANCE

Ignored

Hi,
Take a look at post 30033

Best regards,

Fx94

#30,978
Feb 17, 2014 6:19pm Feb 17, 2014 6:19pm

emmanuel7788
Joined Nov 2008 | Status: Trader | 50,193 Posts

Quoting emmanuel7788

Disliked

EJ H4 trade 17 Feb: PA is a Piercing Line Candlestick. {image}

Ignored

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Name: EJ H4 !7 Feb LO trade.png
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Trade update:

Scale-out +52pips as price break the upper trendline of the contracting triangle.
BIOJ poilicy statment today in Tokyo so I keep the initial SL and the +52pips wil reduce the overall risk to 0.5R instead of 1R.

Good sign as we see TDI PL cross the MBL and the PA is above the WPv as in my Big Picture Planning. When we see the PL Green line diverge from the TSL Red line and both move above the MSL yellow line, we look at the Price Action above on the price chart. So long at the APB/HA remains bullish blue colour and with small or no lower shadow, we are good for a trending move. Use the PAC and trail the market when strong trend breaks away.

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