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Trading Made Simple

  • #34,861
  • Apr 6, 2014 12:52pm Apr 6, 2014 12:52pm
Quoting mkfx
{quote} Thanks for this indicator. Please can you post your average Daily range indicators as well winch is showing ADR on left side your corner of your chart. Regards
here it is

Attached File(s)
File Type: ex4 BatFink - FXiGor Daily Range Calculator.ex4   4 KB | 467 downloads
I am not random, U just can't think as fast as me....
  • #34,862
  • Apr 6, 2014 1:32pm Apr 6, 2014 1:32pm
Quoting emmanuel7788
{quote} TOK_5H breakout is just another breakout method like many other berakoit methods. I am an active Asian session trader and I notice when the market is consolidating in narrow range during the first half session of the Tokyo session, breakouts happen during the day and often produce good trades. The EJ is a good pair for this becasue Euro is s highly traded currency. Other pair which recently gave good breakout trades are EURAUD, EURNZD and EURCAD. But you need to check the H4 Average ATR before you decide to use the TOK_5H breakout method....

Hey emmanuel

Yes, I noticed on the past charts that when breakouts happened they happened when h1 bar high/low closes above pac and tdi was green above red above yellow.
I was surprised at how well this method works!

In addition, you mentioned a range of pips for those pairs. Personally, my range is slightly different than yours. Are you using the standard atr indicators that come with mt4? I think my range is slightly off to yours because of the broker but its just a 1 to 2 pip different.
Lets Make Some Money
  • #34,863
  • Apr 6, 2014 1:40pm Apr 6, 2014 1:40pm
Quoting DesiBaba
{quote} Hey emmanuel Yes, I noticed on the past charts that when breakouts happened they happened when h1 bar high/low closes above pac and tdi was green above red above yellow. I was surprised at how well this method works! In addition, you mentioned a range of pips for those pairs. Personally, my range is slightly different than yours. Are you using the standard atr indicators that come with mt4? I think my range is slightly off to yours because of the broker but its just a 1 to 2 pip different.

Mine too have 1 2 pip different...i think it's the broker...
Sad i'm not trying to understand PA
  • #34,864
  • Apr 6, 2014 1:45pm Apr 6, 2014 1:45pm
Quoting omonisha
{quote} Mine too have 1 2 pip different...i think it's the broker...
Thanks for reply omonisha!

Good luck this week !
Lets Make Some Money
  • #34,865
  • Apr 6, 2014 1:53pm Apr 6, 2014 1:53pm
Quoting DesiBaba
{quote} Thanks for reply omonisha! Good luck this week !
Many pips to you too...

EURNZD

second position was stopped out...re-entered...

now waiting how i start this week
Attached Image (click to enlarge)
Click to Enlarge Name: EN_j.png Size: 45 KB
Sad i'm not trying to understand PA
  • #34,866
  • Apr 6, 2014 2:11pm Apr 6, 2014 2:11pm
Quoting thinkpad123
Hello fellow traders I was trading h4 and h1 very successfully using TMS but these days i am struggling with shortage of time for trading h4 and h1 due to preparations for marriage, construction of home and full time job so from onwards I have decided to trade day charts with TMS. I hope i will get success on that too with this great method. I dont know whether it is allowed to share trades from daily charts in this thread or not , I know there is a separate thread for day trading with TMS but alot of basic things have changed in that thread so...
Hi Thinkpad,

Its funny but I was just this weekend going thru some old posts from Big E (actually its still out of his Graig Harris thread which preceded this thread) and I saw there that Big E himself at that stage some times used the D1 charts to look for entries and to take trades.

Look at the attached doc which is a compilation of Big E's posts from that thread. Especially in the 1st half of the doc you will find several examples of D1 trades.

So, while I am not a senior participant here, and its not my call to make, to me D1 trades looks as relevant as any other time frame.

Actually, I just want to draw your attention to Big E's trading the D1.....maybe there's something of value for you in that.

enjoy.

Attached File(s)
File Type: pdf Craig Harris Stochastics Method by Big E.pdf   3.2 MB | 3,206 downloads
  • #34,867
  • Apr 6, 2014 4:28pm Apr 6, 2014 4:28pm
This information is available all over the web. I like to do my own weekend analysis and get an understanding of my pairs...where they are and where they can potentially move.

Maybe this will benefit someone else.

Regards!

Attached Image
  • #34,868
  • Apr 6, 2014 6:00pm Apr 6, 2014 6:00pm
Quoting mor707
{quote} Hi Thinkpad, Its funny but I was just this weekend going thru some old posts from Big E (actually its still out of his Graig Harris thread which preceded this thread) and I saw there that Big E himself at that stage some times used the D1 charts to look for entries and to take trades. Look at the attached doc which is a compilation of Big E's posts from that thread. Especially in the 1st half of the doc you will find several examples of D1 trades. So, while I am not a senior participant here, and its not my call to make, to me D1 trades...
Thank you mor707 for bringing back this pdf.

This is a great document describing the 5-Method which we discuss in this TMS thread.

This simple method works in all timeframes, you just need to know when and how to trade with it. It is trend trading and there is a trend in every timeframe. The range of the trend is what you must know when you jump into the market.

My favourite pic on Market Trends.
Attached Image


Have a Great Trading Week Everyone.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #34,869
  • Apr 6, 2014 6:17pm Apr 6, 2014 6:17pm
Quoting irishtoffy
{quote} I was looking for EU Buy set ups, on bounce off long term trendline. irishtoffy {image}
Just to highlight that EJ is caught in a sideways range by that huge Master Candle MC of about 470pips. The high is 143.74 and low is 139.11, market currently consolidates around 141.20 for past 3 weeks. It can swing either way within that MC until we see a breakout.
EJ has an average weekly range of about 320 pips and the recent weeks have been quite narrow around 270pips only. Just take the intra-week swings.

Good trading this Week.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #34,870
  • Apr 6, 2014 6:24pm Apr 6, 2014 6:24pm
Quoting Next4467
{quote} Hi emmanuel How did you work out these ranges for your breakout system? Thanks
Hi Next4467,

I see that Ian and omonisha helped explain how I got those average range for the euro pairs to trade the TOK_5H breakout this week.

If you are still not clear, please ask again or PM me.

Have a good trading week, practice on demo how to trade the TOK_5H breakout.

regards,

EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #34,871
  • Apr 6, 2014 6:26pm Apr 6, 2014 6:26pm
Quoting Zoopots
This information is available all over the web. I like to do my own weekend analysis and get an understanding of my pairs...where they are and where they can potentially move. Maybe this will benefit someone else. Regards! {image}
Wow !!

I am just one of the ordinary silent followers of this amazing forum.

I have my utmost respect for our late leader, Mr. Big E as well as many of his colleagues, associates and followers who have been putting in an enormous amount of time and effort in a selfless way to help the new traders learn how to trade successfully. This, in my humble opinion, is a very noble trait and I respectfully salute all those who have been contributing to this forum in a positive way and thereby helping new traders enormously.

I, of course, did notice your debut on this forum right from your very first posting and am very impressed with your complete dedication to the founding principle of this great forum : SIMPLICITY. You have introduced a new awakening as how to conduct one's basic analysis before taking an entry on the trade, detailing the simplest possible methodology with each and every step well defined and illustrated. I thank you for your effort and selfless dedication to help others.

Now, referring to the post in question: it is a great help. Never knew that such an info was available. Right away, one can see that out of the eight pairs, at least three pairs (EURAUD, CADCHF and GBPCAD) are the prime candidates for taking a trade (of course, after doing one's own analysis and fine tuning the entry), as those three have the prices moving in the same direction in all the time frames. I think it is a great resource (though not to entirely substitute Trader's own research and analysis). Kindly consider providing the source of this info.

With my sincere thanks and best regards.
  • #34,872
  • Apr 6, 2014 8:40pm Apr 6, 2014 8:40pm
3 Apr update: Moved S/L up to lock in additional profit; +370 pips now protected. Weekly and Daily still favorable to my Buy, but since the pair is stalling at major resistance of 95.70 the H4 is beginning to hint Sell.

6 Apr update (market open): (AUDJPY H4) Moved S/L to a very tight 95.75 protecting 397 pips of profit. Came within 24 pips of Target. TDI hinting at Sell but no close below PAC as you can see below. 20 days in trade

Attached Image
  • #34,873
  • Apr 6, 2014 8:54pm Apr 6, 2014 8:54pm
Quoting minortrader
{quote} Wow !! I am just one of the ordinary silent followers of this amazing forum. I have my utmost respect for our late leader, Mr. Big E as well as many of his colleagues, associates and followers who have been putting in an enormous amount of time and effort in a selfless way to help the new traders learn how to trade successfully. This, in my humble opinion, is a very noble trait and I respectfully salute all those who have been contributing to this forum in a positive way and thereby helping new traders enormously.......
minortrader-

My source is a naked chart with HA candles, PAC zone and a cross hair cursor. I look at the three charts listed, Weekly, Daily and H4 noting S & R likely to impact my trading in the week ahead. I then enter it into an Excel spreadsheet next to my trading station to be referenced as positions move. I like to find these price levels myself because, quite frankly, I trust no one else and then I can blame nobody but myself.

I also take a photo of the spreadsheet with my IPad to reference when I'm checking trades away from home via GoToMyPC app.

I still put the greatest of emphasis on the thread entry criteria, but may elect to pass on a TDI entry if my analysis points towards a trouble spot. Example: Look at the first Buy price level of EURAUD for each time frame: H4 1.4950, D 1.4980 and W 1.4920. By way of discussion, if I were to receive a Buy TDI signal near the current price of 1.4905 I would likely ignore it until barriers to my trade are broken. I suppose you could trade it on a lower time frame, but that defeats my strategy and ties me to a computer.

Best of trades to you.........
  • #34,874
  • Apr 6, 2014 8:56pm Apr 6, 2014 8:56pm
Quoting Zoopots
3 Apr update: Moved S/L up to lock in additional profit; +370 pips now protected. Weekly and Daily still favorable to my Buy, but since the pair is stalling at major resistance of 95.70 the H4 is beginning to hint Sell. 6 Apr update (market open): (AUDJPY H4) Moved S/L to a very tight 95.75 protecting 397 pips of profit. Came within 24 pips of Target. TDI hinting at Sell but no close below PAC as you can see below. 20 days in trade {image}

It was my understanding that you set your SL at the bottom of the PAC channel, or do you usually set it a few pips below the channel to give it a little more room to breathe?
War. Is my profession.
  • #34,875
  • Apr 6, 2014 9:02pm Apr 6, 2014 9:02pm
Quoting L0pg
{quote} It was my understanding that you set your SL at the bottom of the PAC channel, or do you usually set it a few pips below the channel to give it a little more room to breathe?
Yes, I usually do not set S/L exactly at PAC levels. As you can see right now, the AUDJPY H4 is consolidating, so it often breaches the boundary of the PAC. I will close the trade if PA closes outside the PAC (below, in this case). The PAC is only 26 pips wide right now and for an H4 chart, that's quite narrow. Need to let the market breathe. Two High Impact news releases for this pair tomorrow...so we'll see how that goes. Should stay in PAC until then.

Thanks.
  • #34,876
  • Apr 6, 2014 9:05pm Apr 6, 2014 9:05pm
Quoting Zoopots
3 Apr update: Moved S/L up to lock in additional profit; +370 pips now protected. Weekly and Daily still favorable to my Buy, but since the pair is stalling at major resistance of 95.70 the H4 is beginning to hint Sell. 6 Apr update (market open): (AUDJPY H4) Moved S/L to a very tight 95.75 protecting 397 pips of profit. Came within 24 pips of Target. TDI hinting at Sell but no close below PAC as you can see below. 20 days in trade {image}
super!!
Everything you can imagine, is real - Pablo Picasso
  • #34,877
  • Apr 6, 2014 10:02pm Apr 6, 2014 10:02pm
Interesting method using slightly different Heikan Ashi. The thread called it engulfing bar, a bit confused at first because he meant engulfing bars in front instead of behind.

http://www.forexfactory.com/showthread.php?t=476597
Everything you can imagine, is real - Pablo Picasso
  • #34,878
  • Apr 6, 2014 11:13pm Apr 6, 2014 11:13pm
Quoting Zoopots
{quote} Yes, I usually do not set S/L exactly at PAC levels. As you can see right now, the AUDJPY H4 is consolidating, so it often breaches the boundary of the PAC. I will close the trade if PA closes outside the PAC (below, in this case). The PAC is only 26 pips wide right now and for an H4 chart, that's quite narrow. Need to let the market breathe. Two High Impact news releases for this pair tomorrow...so we'll see how that goes. Should stay in PAC until then. Thanks.


Hi Zoopots...what is PAC levels? Is that Price Action ...???? something?
  • #34,879
  • Apr 6, 2014 11:41pm Apr 6, 2014 11:41pm
When I try to use xADR on my platform, it is frozen and not working. It does not appear on my Pepperstone platform.
Does anyone has the same problem? How can I fix this?

Thanks for all your help.
  • #34,880
  • Apr 6, 2014 11:54pm Apr 6, 2014 11:54pm
Quoting CompassDude
{quote} Hi Zoopots...what is PAC levels? Is that Price Action ...???? something?

Hi there,

you should read post#34,808 of Emmanuel7788.

I have the same question before.
Regards
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