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Trading Made Simple

  • #31,501
  • Feb 27, 2014 8:19am Feb 27, 2014 8:19am
Quoting thinkpad123
+542 pips for this week Here are the snapshots. GJ {image} Gold {image} E/CAd {image} Crude Oil 1376741 EJ {image}
Hi thinkpad123,

very good results.
Short notice: Inside your post the crude oil chart is not attached.

To your EJ trade on H4: I trade EJ as well, but on H1. I do not know your trade plan, but I wondered about that entry. After that price moved nearly 100 pips against your trade, before it slowly turns into a winner. What is your stop at such a trade?

At the point of your entry I would have been more bullish even on D1 and H4, looking at the TDI and the price action. My H4 chart doesn't even show a red candle, because of a different server time.

On H1 there was a very good long signal which would have given us 65 pips (in maximum).
Attached Image (click to enlarge)
Click to Enlarge Name: EJ - lookup thinkpad.png Size: 167 KB
fxFox (all times in my charts are GMT+1)
  • #31,502
  • Feb 27, 2014 8:21am Feb 27, 2014 8:21am
Quoting Direwolf
Congratulations Thinkpad! Such inspiration! I still make stupid mistakes and lose my pips pretty often. Because of all the stupid things I did I'm only up 70 pips this week!
We all make mistakes - all day. Better +70 than -70
fxFox (all times in my charts are GMT+1)
  • #31,503
  • Feb 27, 2014 8:27am Feb 27, 2014 8:27am
took this trade on EJ on the 15 minute chart it a counter trade anyway but good for +38pip log out manually
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpy nnnnekek.jpg Size: 155 KB
  • #31,504
  • Feb 27, 2014 8:40am Feb 27, 2014 8:40am
Quoting Direwolf
I took long on EJ after it broke out of the red box. Target 40 pips (blue line). I closed it manually since it's only 5 pips away and I already have another win today. Out at +35 good enough for a quick trade. {image}
good direwolf entered the same trade too but on a lower tf 15 minutes got out for the same pip see post above
  • #31,505
  • Feb 27, 2014 8:47am Feb 27, 2014 8:47am
Great going Thinkpad123!
I have a question though, making a 1000 pips a week for example means nothing if you dont take into consideration risk:reward, and how much the weekly pips have increased your account by (% wise).
How much is a good average % to be increasing your account by each week to be successful?
  • #31,506
  • Feb 27, 2014 9:10am Feb 27, 2014 9:10am
Quoting Bangokar
{quote} pozeram ze su tu aj cesi. ja som slovak. ako sa ti dari obchodovat?
======================================================================================


Jeee ahoj, tak to Jsem necekal ze tu budu psat nekdy cesky.
Zavolej mi na skype pokecame trochu, at jim to tu ve vlakne nezanasime cizi reci. ( skype-BUTCH VIKTOR )
Viktor
  • #31,507
  • Feb 27, 2014 9:20am Feb 27, 2014 9:20am
EURJPY H1 - retracement trade after PRCF

Catched the 50 pips target, even if I thought it wouldn't go a lot further that 50% to 61,8%. Because of price went straight up (on m15 chart), without a clear retracement I stayed in (the good result of the morning in the pocket) and exited at 50 pips. Afterwards it went some 7-8 pips more up and turned now.

What a day - could be every day in that manner.
Attached Image (click to enlarge)
Click to Enlarge Name: 2014-02-27 16.00 EURJPY - profit.png Size: 155 KB
fxFox (all times in my charts are GMT+1)
  • #31,508
  • Feb 27, 2014 9:28am Feb 27, 2014 9:28am
Quoting SoniPipster
Great going Thinkpad123! I have a question though, making a 1000 pips a week for example means nothing if you dont take into consideration risk:reward, and how much the weekly pips have increased your account by (% wise). How much is a good average % to be increasing your account by each week to be successful?
You can increase your account by just 0.5% a week and that is success, so to be "successful" you need to increase your account - end of sentence. On the subject of risk:reward it really depends on how you trade, if you change your lot size according to the size of your stop loss and risk for instance 2% on every trade then its more important on a trade by trade basis but saying that, once you move to breakeven thats mucked the figures up anyway. I am more interested in my average risk:reward over x amount of trades.
  • #31,509
  • Feb 27, 2014 9:29am Feb 27, 2014 9:29am
Do you guys trade NY session?
Everything you can imagine, is real - Pablo Picasso
  • #31,510
  • Feb 27, 2014 9:41am Feb 27, 2014 9:41am
Quoting fxFox.mb
{quote} Hi thinkpad123, very good results. Short notice: Inside your post the crude oil chart is not attached. To your EJ trade on H4: I trade EJ as well, but on H1. I do not know your trade plan, but I wondered about that entry. After that price moved nearly 100 pips against your trade, before it slowly turns into a winner. What is your stop at such a trade? At the point of your entry I would have been more bullish even on D1 and H4, looking at the TDI and the price action. My H4 chart doesn't even show a red candle, because of a different server...
At that point when i entered in this trade TDI was crossing red line, I was getting late for a meeting so I had done a mistake of not waiting for candle close as you can see it becomes a bounce trade after candle close.
I use fix stop loss of 100 pips on all my h4 trades. You can see a red small red line above my entry as my stop loss and blue line below as my initial top profits.
When i came back from meeting second candle had done the disaster but my stop loss was yet not hit so i analysed the situation and seen a divergence so i decided to stay in the trade.
As far as crude oil attachment, I am attaching it again here with a most recent trade just closed for +50 pips.
Attached Image (click to enlarge)
Click to Enlarge Name: cl.PNG Size: 38 KB

Currently I am in two trades , one of gold , +17 so far
And other on gbp/aud , -8 pips on this one
I am not random, U just can't think as fast as me....
  • #31,511
  • Feb 27, 2014 10:04am Feb 27, 2014 10:04am
Quoting Direwolf
Congratulations Thinkpad! Such inspiration! I still make stupid mistakes and lose my pips pretty often. Because of all the stupid things I did I'm only up 70 pips this week! I guess I should be happy I'm not in the negative.
Yes its blessing that at least we are on green side.
Have a safe trading to you.
I am not random, U just can't think as fast as me....
  • #31,512
  • Feb 27, 2014 10:05am Feb 27, 2014 10:05am
Hi Thinkpad123 & Emmanuel7788


it does make sense.
Thanks for the reply.
  • #31,513
  • Feb 27, 2014 10:12am Feb 27, 2014 10:12am
Quoting Direwolf
Do you guys trade NY session?
Besides from the dependancies from my work - normally I trade on LO session and the first hours of the NY session.
Further it depends on how the day was going on, what the daily result is, how I feel and sometimes if I made too many mistakes in the morning trades I stop and wait for another day.
fxFox (all times in my charts are GMT+1)
  • #31,514
  • Feb 27, 2014 10:15am Feb 27, 2014 10:15am
Quoting SoniPipster
Great going Thinkpad123! I have a question though, making a 1000 pips a week for example means nothing if you dont take into consideration risk:reward, and how much the weekly pips have increased your account by (% wise). How much is a good average % to be increasing your account by each week to be successful?
My risk:reward depends on trade setup like if its A++ then i risk 3% of my account on that trade, otherwise 2% normally per trade and 1% on some iffy setups when my finger start itching to enter
Usually I aim for 40% per month but there were times i had increased 50 to 60 percent my account in a month. I have a high win to lose ratio so this works for me but I had been in months where i wanted to pull out all hairs from my head, white washed my two accounts at start.
This week i made 18 percent increase up to now.
I am not random, U just can't think as fast as me....
  • #31,515
  • Feb 27, 2014 10:28am Feb 27, 2014 10:28am
Quoting thinkpad123
{quote} At that point when i entered in this trade TDI was crossing red line, ...
Thank you for the answers.

For me personally that would be too risky. Taking a risk of 100 pips to gain 25 to 75 pips and having 4 to 6 trades in parallel on duty.
Therefore your win/loose ratio must be at a very high level. But if that works for you on the long run, why not. Everyone trades different. Happy trades!
fxFox (all times in my charts are GMT+1)
  • #31,516
  • Feb 27, 2014 10:33am Feb 27, 2014 10:33am
EURJPY is recovering - we are now again at the price level of the morning and on daily we get (there are some hours to close) another huge kangaroo tail / pinbar.
Attached Image (click to enlarge)
Click to Enlarge Name: 2014-02-27 17.30 EURJPY - status.png Size: 152 KB
fxFox (all times in my charts are GMT+1)
  • #31,517
  • Edited 12:26pm Feb 27, 2014 12:16pm | Edited 12:26pm
Hey guys. I've been demo trading the daily time frame for a while. I've been doing it because I've got sleeping issues, and if I wake up at 2:00 (I'm the same time zone as Eelfranz) I can't go back to sleep and it ruins my day. However I've noticed that the daily is a bit different from trading the 4H time frame and I need some tips from people who trade it, or just any advice really.

The main issue I have is by the time I get a signal (TDI cross), I've usually missed a big amount of movement in the daily, and if I enter, a lot of time price just hovers around b/c momentum is gone, or there is a reversal because momentum is gone and people start pushing price the other way.

I've looked back at the 4H, and said to myself, wow, I could have got most of that movement by just entering on the signal I would have got on the 4H and caught all of that or most of the momentum.

So can anyone give me any advice? I go to bed at 12:00, and the new candle (for 4H TF) comes up at 2:00. I was thinking I could set up trades at 10:00 like Eelfranz, check at 12:00 before I go to bed (see if a trade is in the making and enter if I think one is coming up). Then once again at 8:00 when I wake up.
  • #31,518
  • Feb 27, 2014 12:47pm Feb 27, 2014 12:47pm
revival

please google 'trading made simple for day charts' and you will see an excellent thread here on forex factory by britpip7

it will have the answers to your queries

Quoting Revival
Hey guys. I've been demo trading the daily time frame for a while. I've been doing it because I've got sleeping issues, and if I wake up at 2:00 (I'm the same time zone as Eelfranz) I can't go back to sleep and it ruins my day. However I've noticed that the daily is a bit different from trading the 4H time frame and I need some tips from people who trade it, or just any advice really. The main issue I have is by the time I get a signal (TDI cross), I've usually missed a big amount of movement in the daily, and if I enter, a lot of time price just...
  • #31,519
  • Feb 27, 2014 1:03pm Feb 27, 2014 1:03pm
Quoting fxFox.mb
{quote} Thank you for the answers. For me personally that would be too risky. Taking a risk of 100 pips to gain 25 to 75 pips and having 4 to 6 trades in parallel on duty. Therefore your win/loose ratio must be at a very high level. But if that works for you on the long run, why not. Everyone trades different. Happy trades!
I have a very high win ratio so it works for me most of the time and stop loss rarely get hit. Plus it is for safety only not my regular exit, Often i exit on TDI signal but before exiting i do check if there is possibility of trade moving back in my direction or not and if i found any then i stay in trade like the one you had pointed on EJ.
I am not random, U just can't think as fast as me....
  • #31,520
  • Feb 27, 2014 1:07pm Feb 27, 2014 1:07pm
Quoting Revival
Hey guys. I've been demo trading the daily time frame for a while. I've been doing it because I've got sleeping issues, and if I wake up at 2:00 (I'm the same time zone as Eelfranz) I can't go back to sleep and it ruins my day. However I've noticed that the daily is a bit different from trading the 4H time frame and I need some tips from people who trade it, or just any advice really. The main issue I have is by the time I get a signal (TDI cross), I've usually missed a big amount of movement in the daily, and if I enter, a lot of time price just...
I had the same issues with sleep but as time passes you will develop a routine, Trading 4 HR on TMS is very rewarding so stick to it if you can.
I am not random, U just can't think as fast as me....
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