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Trading Made Simple

  • #34,041
  • Mar 26, 2014 3:14pm Mar 26, 2014 3:14pm
Quoting L0pg
Zoo, If I am right, according to your rules, you would enter G/A, and A/J, and (if they finally cross) A/U, and E/A along with E/N. With four of these crosses being AUD, would you still enter all of them, or would you select only one of them? Crosses below the 32 line: G/A Possibly upcoming below the 32: E/A (getting close), E/N (should cross spot on?) {image} {image} {image} Crosses above 68 line: A/J Possibly upcoming above the 68:A/U (getting close) {image} {image} Or have I missed something of your rules? I am NOT a conservative trader, trying...
LOpg-

I definitely avoid being in multiple pairs tied to the same currency. I have about 6 that I watch and only two tied to the USD (XAGUSD being one of them).

With regards to the EURNZD, look to the left at the last three TDI buy crosses and they all resulted in minor profits (some traders call this MFE-Maximum Favorable Excursion), or how far in my favor did the trade go. You can use Fibs, trend lines, pivots, S&R levels, higher time frame analysis, etc to judge this. But given the down trend the E/N is in, the risk-to-reward better be good to take a buy.

AUDJPY will have around a 70 pip S/L so your targeting should anticipate over 100 pips.

Zoopots
  • #34,042
  • Mar 26, 2014 3:42pm Mar 26, 2014 3:42pm
Dear Zoopots,

Thanks for guidelines for my query.

Also your life experience sharing with MartC is very same of mine. I am in this field from last 2 years and went for so many experiments/strategies. Its matter of luck, i found this TDI in first two months while reading forums but able to grab some profits now, hardly 10 days before, after reading this Big E forum. My gratitude to late Mr. Big E and afterwards to Emmanuel, ThinkPad, Ass33 and ofcourse to you too and to all others who spare time and share their knowledge to save newbies from hurdles (live account bursting).

Regards to all.
  • #34,043
  • Mar 26, 2014 4:49pm Mar 26, 2014 4:49pm
AU update. I entered when PA cleared the previous resistance levels. Earlier i mentioned a head and shoulders pattern, and it seems to be fulfilling itself at least for now. The red and green of the TDI was above the MBL on the H4, Daily, and Weekly TF which added confluence to my trade. Price was also riding at the top of the PAC which signaled momentum. I closed this trade just a few minutes ago from what i saw on the 4H TDI (hook). I didn't enter the trade when the red/green crossed the MBL because of the two previous resistance levels that were respected, so i waited for a breakout of those levels. +74 Pips. The green line is where i entered the trade and the red is where i exited. I know this doesn't go 100% by the rules of TMS on the first page, but i incorporate PA with TMS to help. They do work well together. Does anyone see anything else that i may have missed? i still have much to learn!

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  • #34,044
  • Mar 26, 2014 6:49pm Mar 26, 2014 6:49pm
What's your analysis? Take it short? Wait for pull back long set up??
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  • #34,045
  • Mar 26, 2014 7:11pm Mar 26, 2014 7:11pm
AUDJPY has a good run up this week so far, but with Tokyo domestic data release this morning, it pauses and on H4 I see a 3-bar bearish pattern which I is one of my setup pattern to trade with. But this is counter-trend to this week' rally, so we need to mitigate the risk of such CT trades.

Note: the 3-bar pattern is seen using the real price bars or japanese candlestick chart. The APB body usually conceals the real price.

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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #34,046
  • Mar 26, 2014 7:15pm Mar 26, 2014 7:15pm
GBPJPY D chart candle close ugly. ... NO buy.

see earlier post#34,003.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #34,047
  • Mar 26, 2014 7:19pm Mar 26, 2014 7:19pm
EURAUD consolidates near 1.4950,
Target 1.4900 still look within reach and that's 100% of the average weekly range.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #34,048
  • Mar 26, 2014 7:24pm Mar 26, 2014 7:24pm
Quoting omonisha
GPBCAD {image}

Hi omonisha,

that is the favourite feeding grounds of sellers when the buyers get exhausted.
Learn from the Bears where they usually feed.
Attached Image

Good trade mate!
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #34,049
  • Mar 26, 2014 7:33pm Mar 26, 2014 7:33pm
Quoting as33156
{quote} Yeah I saw it to. Had just got snake bitten on EU though. Would you mind telling me the proper time to start looking into Hr1 trades? Is it 7am EST or 9am Est? Thanks in advance.
Anytime as long as u look for best setups

We didnt discover oil down under, but the Asians have changed eating habits
  • #34,050
  • Mar 26, 2014 7:36pm Mar 26, 2014 7:36pm
Quoting Greenb
hmm that UJ, anyone in it? {image}
Yes I am in, moved SL to BE now.
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  • #34,051
  • Mar 26, 2014 7:36pm Mar 26, 2014 7:36pm
Money managment!

On average how many pips do you need to accumulate to add 2% to your account?
  • #34,052
  • Mar 26, 2014 7:38pm Mar 26, 2014 7:38pm
AUDNZD came down enough to touch my SL to the pip. Closed at +25 pips. Highest it went was 41, never reached my TP at 50
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Bummer is GCAD. It did reached my TP but not before stopping me out at +10 pips.
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About break even yesterday.
Everything you can imagine, is real - Pablo Picasso
  • #34,053
  • Mar 26, 2014 7:41pm Mar 26, 2014 7:41pm
Quoting pundit78
{quote} Yes I am in, moved SL to BE now. {image}
Easy Money! about time something goes the way I want it to. If the market keeps this up I may make 100 pips by the end of the week lol
MAY THE PIPS BE WITH YOU!
  • #34,054
  • Mar 26, 2014 7:45pm Mar 26, 2014 7:45pm
Quoting GilR
Money managment! On average how many pips do you need to accumulate to add 2% to your account?
I think it would have more to do w/ position size than amounts of pips.
  • #34,055
  • Mar 26, 2014 7:52pm Mar 26, 2014 7:52pm
Quoting Direwolf
I entered EURCAD on a pull back/pin bar without HA changing color or TDI confirmation. Costed me 30 pips lost. left is chart when I enter, right is chart when I exit. {image}
Sometimes I make the same mistakes but I realised we should enter if there is confluence of TDI ie PCRF with TDI cross.
  • #34,056
  • Mar 26, 2014 7:54pm Mar 26, 2014 7:54pm
Took A/J short on TDI cross that happened at a previously drawn resistance line to the pip.. SL at BE when it hit+30, it's retraced a bit to +20. We'll see where this goes!

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War. Is my profession.
  • #34,057
  • Mar 26, 2014 7:58pm Mar 26, 2014 7:58pm
Quoting SledHead
What's your analysis? Take it short? Wait for pull back long set up?? {image}
i would wait to see what happens here. It could continue up and it could reverse. I think it will continue up based on what i see on the daily and weekly TF, but only trade what we see not what we think will happen. So far there is not a valid setup in either direction for AU according to the H4 TF, but when there is, i would be more likely to take a long trade after a minor correction than take a short.
  • #34,058
  • Mar 26, 2014 8:05pm Mar 26, 2014 8:05pm
took it on a daily as I need to go to bed.
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the cautious seldom err....C
  • #34,059
  • Mar 26, 2014 8:06pm Mar 26, 2014 8:06pm
Quoting Agk007
{quote} i would wait to see what happens here. It could continue up and it could reverse. I think it will continue up based on what i see on the daily and weekly TF, but only trade what we see not what we think will happen. So far there is not a valid setup in either direction for AU according to the H4 TF, but when there is, i would be more likely to take a long trade after a minor correction than take a short.
AU gave me the short set up. I'm in (paper trade).
  • #34,060
  • Mar 26, 2014 8:07pm Mar 26, 2014 8:07pm
Quoting as33156
{quote} Easy Money! about time something goes the way I want it to. If the market keeps this up I may make 100 pips by the end of the week lol
I wish It doesn't hit BE.
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