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Trading Made Simple

  • #34,481
  • Apr 1, 2014 7:41am Apr 1, 2014 7:41am
Peeling some off. Leaving balance at tp. Stop at be+
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the cautious seldom err....C
  • #34,482
  • Apr 1, 2014 7:51am Apr 1, 2014 7:51am
Quoting emmanuel7788
{quote} Hi Alberto, I trade mainly AU, AJ, EU, EJ and GU using this TOK_5H breakout. But it can be used also for other pairs but you must know the average daily range and to pick a range suitable for identifying that quiet period of a market session and trade then breakout when liquidity returns to the market. The other thing you need to know is that I use R-Multiple for such trades. R is the initial risk of the trade, and this is usually the range of the 5H high-low plus, and profit is in multiples of that R. using a multi-lots entry and exits...
Thanks for the details. Good trading!
  • #34,483
  • Apr 1, 2014 8:23am Apr 1, 2014 8:23am
Quoting pips29
Peeling some off. Leaving balance at tp. Stop at be+ {image}
HI Pips29 - Can I confirm the settings on your moving average? I am using a 100 EMA set to close, no shift. Just not sure what others are using.
Thanks
Without vision, the people will perish.
  • #34,484
  • Apr 1, 2014 9:11am Apr 1, 2014 9:11am
One trade today on EA H1. Entered shortly after London Open when price broke above the previous candle. Exited manually following price setting a triple top.
Attached Image (click to enlarge)
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  • #34,485
  • Apr 1, 2014 9:12am Apr 1, 2014 9:12am
EA

guess need to close manually.. dancing at the moment

GOLD doing nice
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EA.jpg Size: 214 KB
Click to Enlarge Name: Gold_s.jpg Size: 206 KB
Sad i'm not trying to understand PA
  • #34,486
  • Apr 1, 2014 9:32am Apr 1, 2014 9:32am
Quoting Phx62
One trade today on EA H1. Entered shortly after London Open when price broke above the previous candle. Exited manually following price setting a triple top. {image}
Was in a similar trade. Was hanging in as HA candles on H4 was still blue but 'cos you exited, thought I'd better too! +55 and +60 but profit is profit.

How do you decide when to hang on and when to take profit?

Would you re-enter if the previous high is taken out?
  • #34,487
  • Apr 1, 2014 9:35am Apr 1, 2014 9:35am
Week 3 day 2 of trading the 4 hour as shown by thread owner on page 1:

6am : No trades

10am:

EG- +6 pips

EJ- +6 pips

EC- -40 pips

EA- +28 pips

EU= +2 pips

UC- +2 pips

Total: +2 pips + 78 pips from yesterday +80 pips so far this week
Attached Image (click to enlarge)
Click to Enlarge Name: 01.04.png Size: 118 KB
Give yourself a chance and trade it like it's layed out...
  • #34,488
  • Apr 1, 2014 9:46am Apr 1, 2014 9:46am
Quoting mact4
{quote} Was in a similar trade. Was hanging in as HA candles on H4 was still blue but 'cos you exited, thought I'd better too! +55 and +60 but profit is profit. How do you decide when to hang on and when to take profit? Would you re-enter if the previous high is taken out?
I exit when there is a signal to do so. In this case, the time of day and the triple top tell me that price has probably moved up as far as it is going today. But as always, news or other events can move the market anytime. Most of the time, when price has moved 50 or 60 pips, I will wait for a candle to close in the opposite direction. I have found that once price moves 60+ pips in one direction, it will usually consolidate for several hours before reversing. No, I would not re-enter long due to the time of day and the London session is winding down. Hope this answers your questions.
  • #34,489
  • Apr 1, 2014 9:46am Apr 1, 2014 9:46am
I am getting a lot of PM's and sorry if I am not answering them all but I am very busy so Pls read this Post and It will tell you how I am trading for this month:

http://www.forexfactory.com/showthre...84#post7374884

Thanks DesiBaba
Give yourself a chance and trade it like it's layed out...
  • #34,490
  • Apr 1, 2014 9:57am Apr 1, 2014 9:57am
Quoting Phx62
{quote} I exit when there is a signal to do so. In this case, the time of day and the triple top tell me that price has probably moved up as far as it is going today. But as always, news or other events can move the market anytime. Most of the time, when price has moved 50 or 60 pips, I will wait for a candle to close in the opposite direction. I have found that once price moves 60+ pips in one direction, it will usually consolidate for several hours before reversing. No, I would not re-enter long due to the time of day and the London session is...
Yes, thank you very much.
  • #34,491
  • Apr 1, 2014 9:58am Apr 1, 2014 9:58am
EURJPY H1 today with patience - but thought too much

Exited meanwhile with a half position as price couldn't really hold the new high of the 3rd candle. I expected a possible turn after a beginning divergence and the long run of the last days. But this divergence came not into place.

The reentered with that 1/2 after APB seemed to stay above SMA and remained blue
=> Gave in total about 36 pips.
Attached Image (click to enlarge)
Click to Enlarge Name: 2014-04-01 15.50 EURJPY - profit.png Size: 159 KB
fxFox (all times in my charts are GMT+1)
  • #34,492
  • Apr 1, 2014 10:25am Apr 1, 2014 10:25am
Quoting bythepound
{quote} HI Pips29 - Can I confirm the settings on your moving average? I am using a 100 EMA set to close, no shift. Just not sure what others are using. Thanks
Just got back from doing some errands. The moving averages are a ema 200 set to close and the 5ema set to typical +2 shift. Going to the seafront in a shortwhile. Beautiful sunshine where I live
the cautious seldom err....C
  • #34,493
  • Apr 1, 2014 10:26am Apr 1, 2014 10:26am
Wow so many great trades. Congratulations.

My intraday trade today is no good, 4 losses. I'm doing something wrong. Thankfully I made 2 wins from Daily trade so the damange was fairly minimal.

Thank you Phx2 for showing us your trade. Inspiring as always. I hope one day I'll be half as good as you.
Everything you can imagine, is real - Pablo Picasso
  • #34,494
  • Apr 1, 2014 10:30am Apr 1, 2014 10:30am
Phx62

When in back-testing specially looking to learn about LO and NYO boxes and how lo set the low , high, would you back-test while the boxes on the chart or you remove the boxes temporary when in back-testing mode?

Thanks
I Have Learned to Take Some Losses to Make Profits
  • #34,495
  • Apr 1, 2014 11:04am Apr 1, 2014 11:04am
took this trade a short while ago. Will set and forget for the next hour or two
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the cautious seldom err....C
  • #34,496
  • Apr 1, 2014 11:13am Apr 1, 2014 11:13am
Quoting DesiBaba
{quote} Hey Blamshakk I hope Bizzzle and you don't mind me answering this for you. Bizzzle stated that he is using page 1 TMS technique to do his trades. I have recently studied page 1 as I was directed to this thread by another user. What I believe Bizzzle is doing, if he is strictly following page 1 rules, is that he will look at trades 3 times a day only. These times are 10pm (pacific time), 2am (pacific time), and 6am (pacific time). These times are the same times Bizzzle is looking at the charts except he is doing so in his respective UK time....
  • #34,497
  • Apr 1, 2014 12:32pm Apr 1, 2014 12:32pm
3 Trade today


GBPCAD= +33
EURAUD= +45
GOLD=+40
Total= 118 + yesterday +72= +190 so far for this week

Gold remain 1 position
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GCAD.jpg Size: 197 KB
Click to Enlarge Name: Gold_s.jpg Size: 204 KB
Sad i'm not trying to understand PA
  • #34,498
  • Apr 1, 2014 12:46pm Apr 1, 2014 12:46pm
Quoting omonisha
3 Trade today GBPCAD= +33 EURAUD= +45 GOLD=+40 Total= 118 + yesterday +72= +190 so far for this week Gold remain 1 position {image} {image}
Hi Omo. Can you explain your entry on Gold, please?
GBPCAD looks like an entry on retrace?
Everything you can imagine, is real - Pablo Picasso
  • #34,499
  • Apr 1, 2014 1:09pm Apr 1, 2014 1:09pm
Quoting Direwolf
{quote} Hi Omo. Can you explain your entry on Gold, please? GBPCAD looks like an entry on retrace?

GBPCAD you are correct

Gold is based on the channel....

Regards
Attached Image (click to enlarge)
Click to Enlarge Name: GOLD Channel.jpg Size: 216 KB
Sad i'm not trying to understand PA
  • #34,500
  • Apr 1, 2014 1:12pm Apr 1, 2014 1:12pm
NZDUSD daily chart. Price showing 2 candles rejecting to go higher, TDI sloping down from 68 and divergence. I'm waiting for daily candle close to see if it's a valid short entry

Attached Image
Everything you can imagine, is real - Pablo Picasso
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