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Trading Made Simple

  • #31,381
  • Feb 24, 2014 3:05pm Feb 24, 2014 3:05pm
Quoting adamjhdavis
{quote} Hi Bizzle, I found the video fascinating also, it seems very subjective here are my two attempts at the euraud D and 4H. What do you think? {image} {image} I like the idea the way phx62 is using as an aid to his already successful method. A way to stay in the trade longer and maybe add confluence to trading decision. I guess like everything back test back test back test, practice practice practice
I am not sure this is why I will test it out....

I looked at the daily and saw this:
Attached Image (click to enlarge)
Click to Enlarge Name: Ea daily channel.png Size: 64 KB
Give yourself a chance and trade it like it's layed out...
  • #31,382
  • Feb 24, 2014 3:32pm Feb 24, 2014 3:32pm
AUDUSD and EURAUD would have been good TMS trades today:
Attached Image (click to enlarge)
Click to Enlarge Name: audusdh1.png Size: 42 KB
  • #31,383
  • Feb 24, 2014 3:44pm Feb 24, 2014 3:44pm
Quoting hostwey
AUDUSD and EURAUD would have been good TMS trades today: {image}
are you drawing those supply and demand zones or is it an indicator? if so please post. looks very interesting.
He who knows when he can fight and when he cannot, will be victorious.
  • #31,384
  • Feb 24, 2014 3:51pm Feb 24, 2014 3:51pm
Took a UJ Short. Looking to Take profit around 101.90.

Im wondering if my stops and TP are in good places and if this is a good entry signal. Ty in Advance!
Attached Image (click to enlarge)
Click to Enlarge Name: Screen Shot 2014-02-24 at 2.51.17 PM.png Size: 47 KB
He who knows when he can fight and when he cannot, will be victorious.
  • #31,385
  • Feb 24, 2014 3:54pm Feb 24, 2014 3:54pm
Quoting Bizzzle
{quote} Hi Phx62, I have watch the video you posted thank you very much, will give it a try! I have found a way to get the channel your looking for, you need to click on the Insert, Channels and the Fibonacci click it on your chart and then right click it and go to Fibo channel properties and then click fib level tab and have the setting below!! then you will have the channel you want hope that help {image}
or you can use the Andrews' Pitchfork, Iam pretty sure that's what Emmanual used,
you just need to identify 3 swing points and it will draw the channel with the centerline
If you're going through hell, keep going. Winston Churchill
  • #31,386
  • Feb 24, 2014 4:01pm Feb 24, 2014 4:01pm
laast 5 mins of NY sesh MM ramp it up and close the candle blue x.x TDI still crossed so Im going to see what happens but dang that annoying
Attached Image (click to enlarge)
Click to Enlarge Name: Screen Shot 2014-02-24 at 3.02.02 PM.png Size: 49 KB
He who knows when he can fight and when he cannot, will be victorious.
  • #31,387
  • Feb 24, 2014 4:30pm Feb 24, 2014 4:30pm
Quoting TheDDReport
{quote} are you drawing those supply and demand zones or is it an indicator? if so please post. looks very interesting.
Hi

SupDem.ex4

http://www.forexfactory.com/attachme...7&d=1339413011
  • #31,388
  • Feb 24, 2014 4:44pm Feb 24, 2014 4:44pm
Quoting hostwey
{quote} Hi SupDem.ex4 http://www.forexfactory.com/attachme...7&d=1339413011
ty
He who knows when he can fight and when he cannot, will be victorious.
  • #31,389
  • Feb 24, 2014 5:08pm Feb 24, 2014 5:08pm
Quoting TheDDReport
{quote} what indicator are you using to draw your SL line and all those TP lines?

Hi TheDDReport,

Those are drawn using scripts. See post #22,363.

Make sure these scripts are copied to the new MT4 folder - MQL4\Script folder

After you drag and drop the script onto your chart where your trade entry level is, it will calculate the SL using ATR. You can then select and drag to change the SlL point just like the way we use the fibonacci tool.


Try it.


Regards,

EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #31,390
  • Feb 24, 2014 5:14pm Feb 24, 2014 5:14pm
Quoting Imi
{quote} or you can use the Andrews' Pitchfork, Iam pretty sure that's what Emmanual used, you just need to identify 3 swing points and it will draw the channel with the centerline

yes, IMI is correct that I use the Andrews Pitchfork channel.
The MT4 tool makes it easy to draw any channel with three significant swing points and the median line is draw with the swing point#1.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #31,391
  • Feb 24, 2014 5:18pm Feb 24, 2014 5:18pm
Hi All,

I am a newbie in this forum. I did try to do my first trade yesterday and make a lost

I am wondering if someone more senior with this trading system can help me if my setup is correct or not

I am entering based on
1. it is the 2nd chart
2. TDI Green cross the Red.
3. Stochastic does align with the direction.

I just wondering if probably anything wrong my setup, or simply one of the unexpected fail trade.

Any input would be appreciated?

many thanks in adv.
Attached Image (click to enlarge)
Click to Enlarge Name: first test.png Size: 43 KB
  • #31,392
  • Feb 24, 2014 5:40pm Feb 24, 2014 5:40pm
Quoting Bizzzle
{quote} Emmanuel, If your trying to draw the channel seen on the video it need to be at a 45% in your picture it looks to steep, I don't trade this pair but took a look and think it should look like this: I could be wrong but he said we should look for a 10-4 and 2-8!! What do you think? Your trade looks good to hold till the middle line he did say 80%!! {image}

Thanks Bizzle.

I am used to Jeffrey Kennedy way to draw Elliot Wave channels. But I found that video intersting so I decided to check that using Andrews Picthfork 3-poinst channels. I se your your point about the 45% angle and the steepness of the channel which may not be realistic projections. I think the market type has a lot to do with what we see in those channels. The TDI remains the best momentum indicator to complement the channeling technique.

There is some similarity as I show on the chart below.

Attached Image (click to enlarge)
Click to Enlarge Name: EA h4 week 09 channles compare.png Size: 50 KB


regards,

EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #31,393
  • Feb 24, 2014 5:43pm Feb 24, 2014 5:43pm
Quoting yosephwk
Hi All, I am a newbie in this forum. I did try to do my first trade yesterday and make a lost I am wondering if someone more senior with this trading system can help me if my setup is correct or not I am entering based on 1. it is the 2nd chart 2. TDI Green cross the Red. 3. Stochastic does align with the direction. I just wondering if probably anything wrong my setup, or simply one of the unexpected fail trade. Any input would be appreciated? many thanks in adv. {image}

Hi yosephwk,

First, a warm welcome to this TMS family of traders.

Just a quick point, that entry was just at the London close, am I right?

The London close hour is a tricky time to trade on H1. We don't know if there were buyers or just sellers exiting the market.

regards,

EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #31,394
  • Feb 24, 2014 5:46pm Feb 24, 2014 5:46pm
AU D chart 25 Feb:

We have a bullish engulfing D candle and we see 0.9050.

I am bullish bias today, so I look to buy low or breakout of the previous D high.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #31,395
  • Feb 24, 2014 5:52pm Feb 24, 2014 5:52pm
Quoting yosephwk
Hi All, I am a newbie in this forum. I did try to do my first trade yesterday and make a lost I am wondering if someone more senior with this trading system can help me if my setup is correct or not I am entering based on 1. it is the 2nd chart 2. TDI Green cross the Red. 3. Stochastic does align with the direction. I just wondering if probably anything wrong my setup, or simply one of the unexpected fail trade. Any input would be appreciated? many thanks in adv. {image}
According to me wrong timing , BIG E used to close his trades at this time.
Secondly if you look left then you can see price usually stalls in that area where you have entered.
I am not random, U just can't think as fast as me....
  • #31,396
  • Feb 24, 2014 6:00pm Feb 24, 2014 6:00pm
Quoting emmanuel7788
AU D chart 25 Feb: We have a bullish engulfing D candle and we see 0.9050. I am bullish bias today, so I look to buy low or breakout of the previous D high.
There is strong resistance at 0.9100 are and long term downtrend channel upper portion.
Do you think it can cross that area tomorrow?
Actually I have a plan to look for short signals from that area. Maybe I am missing something in my analysis?
Attached Image (click to enlarge)
Click to Enlarge Name: Capture.PNG Size: 48 KB
I am not random, U just can't think as fast as me....
  • #31,397
  • Feb 24, 2014 6:39pm Feb 24, 2014 6:39pm
Quoting thinkpad123
{quote} There is strong resistance at 0.9100 are and long term downtrend channel upper portion. Do you think it can cross that area tomorrow? Actually I have a plan to look for short signals from that area. Maybe I am missing something in my analysis? {image}
the price broke UP the high of PB (+IB) along 10 MA or 20 MA
seeing a strong UP trend in my two cents opinion
let's see if the market take it UP further for the rest of the week
  • #31,398
  • Feb 24, 2014 9:27pm Feb 24, 2014 9:27pm
AU has such a small daily range. Better to trade larger time frame such as H4 or daily?
Everything you can imagine, is real - Pablo Picasso
  • #31,399
  • Feb 24, 2014 10:15pm Feb 24, 2014 10:15pm
Quoting hostwey
AUDUSD and EURAUD would have been good TMS trades today: {image}
Hostwey, I took that trade AU long H1 but exited with 23 pips as there was resistance but it went past the resistance I could have gained 20+ pips more if stayed longer.

Took the trade off the bounce (green off red) Or could have entered way earlier that would be profitable too but overall happy for the trade.

Attached Image (click to enlarge)
Click to Enlarge Name: audusd-h1-forex-capital-markets.png Size: 46 KB


Regards
  • #31,400
  • Feb 24, 2014 10:37pm Feb 24, 2014 10:37pm
Quoting TheDDReport
Took a UJ Short. Looking to Take profit around 101.90. Im wondering if my stops and TP are in good places and if this is a good entry signal. Ty in Advance! {image}
I would appreciate if anyone could help me understand the possibility of putting TP as shown in the chart below as compared to TheDDReport's post #31,391. Are the considered points valid in the image below or am I totally wrong. Any suggestions ?
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpy-h1-forex-capital-markets-2.png Size: 42 KB


1. Have I used the Fib correctly considered the high and low points.
2. Could it be practical if I put my TP at 50% Fib level where PA was bounced off before on the left.

I meant no disrespect to TheDDReport's trade consideration I'm just trying to learn how to put TP using Fib tool.

Kind regards
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