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Trading Made Simple

  • #35,181
  • Apr 9, 2014 12:06am Apr 9, 2014 12:06am
Quoting GilR
{quote} This is the quote I really like
Me too
Give yourself a chance and trade it like it's layed out...
  • #35,182
  • Apr 9, 2014 12:13am Apr 9, 2014 12:13am
Quoting Bizzzle
{quote} Nice Trading, get your wheelbarrow One thing I do is look for candles with momentum (size of candle) price must break through the 5ema as Big E did at the beginning of the thread Do lots of back-testing and this will give you more confidence! I posted this before it might help from post Post 33,863 Best of luck mate {image}
That is the EMA 5 shift 2?
  • #35,183
  • Apr 9, 2014 12:15am Apr 9, 2014 12:15am
For my London 6am taking AJ,CC & GJ long

And EN short - further humming and ---- decided no to this one --- to near TDI 35
  • #35,184
  • Edited 1:26am Apr 9, 2014 12:28am | Edited 1:26am
Quoting GilR
{quote} That is the EMA 5 shift 2?
Yes this is correct. Or u could use shift 3 but there isn't to much different, once we have a candle with momentum
Give yourself a chance and trade it like it's layed out...
  • #35,185
  • Edited 2:53am Apr 9, 2014 12:37am | Edited 2:53am
NZDCHF:

Have been watching for a few days now. Really testing .7700 BRN! I missed the major test on 3/28 and Daily pin HA...that H4 entry gave up 100 pips!!!!

The H1 is making lower highs and of this posting is showing some divergence. I have my MT4 alarm set for .7670 Ask price (LOL, I'm using a baby monitor next to my nightstand...) since I normally don't babysit an H1 chart.

Let's keep an eye on it......no major news on the agenda this week....

Attached Image (click to enlarge)
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Edit: Here's what the folks at www.forexpros.com think about S & R levels:

Lots of resistance at or near .7700 (which we can see without someone telling us )

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  • #35,186
  • Apr 9, 2014 12:46am Apr 9, 2014 12:46am
Quoting Zoopots
{quote} 4/8/2000 update: Moved S/L to .8872 to lock in +42; everything else unchanged. MFE so far is 90 pips. Still outside PAC so will stay the course. {image}

4/9/0800 update: Lowered S/L 10 more pips to .8862 protecting 51 pips of profit on remaining lots. TP unchanged. PA hasn't even entered the PAC yet so am staying the course......
  • #35,187
  • Apr 9, 2014 12:58am Apr 9, 2014 12:58am
Quoting GilR
For my London 6am taking AJ,CC & GJ long And EN short - further humming and ---- decided no to this one --- to near TDI 35
Taking GJ Long as well. Entered an hour late though due to internet connection troubles

Will be monitoring closely though as the last couple of retraces only moved a couple of candles.
Focus on the process and the profits will follow
  • #35,188
  • Apr 9, 2014 1:03am Apr 9, 2014 1:03am
Quoting Bizzzle
{quote} Nice Trading, get your wheelbarrow One thing I do is look for candles with momentum (size of candle) price must break through the 5ema as Big E did at the beginning of the thread Do lots of back-testing and this will give you more confidence! I posted this before it might help from post Post 33,863 Best of luck mate {image}
Hi Bizzzle,

Just to clarify, are you looking for price to break through the 5EMA in the first candle following colour change?

This seems to be the case looking at the picture you posted...

Thanks again!
Focus on the process and the profits will follow
  • #35,189
  • Apr 9, 2014 1:44am Apr 9, 2014 1:44am
Quoting MrAussieFX
{quote} Direwolf much respect to you mate.
Cheers mate, totally agree. So informative, big thanks Zoopots for giving us your insight
Everything you can imagine, is real - Pablo Picasso
  • #35,190
  • Apr 9, 2014 1:48am Apr 9, 2014 1:48am
Quoting Ballistical
{quote} Hi Bizzzle, Just to clarify, are you looking for price to break through the 5EMA in the first candle following colour change? This seems to be the case looking at the picture you posted... Thanks again!

Hey Ballistical,

What he is looking for is price to break through sma, TDI to cross or bounce with good angle, the candle to close above previous candle high/low depending on direction to be traded.

According to Big E the sma does not matter as much as the candle size and TDI. If your candle size is good and breaks the high/low of previous candle, and TDI is giving a good angle signal, then you take the trade even if the candle does not break the sma as the sma is there for 'reference' of price movement.

However, you can use the sma as part of your trading plan. You can set rules where you only take trades if they cross sma, have good size and close, and tdi crosses

or you can replace the sma with the pac and trade dean malones way.

Each method will give you wins.

One is more aggressive than the other so you will get a few more losses but the winners should cover those losses.
Lets Make Some Money
  • #35,191
  • Apr 9, 2014 1:51am Apr 9, 2014 1:51am
Quoting Ballistical
{quote} Taking GJ Long as well. Entered an hour late though due to internet connection troubles Will be monitoring closely though as the last couple of retraces only moved a couple of candles.
GJ looking much better now!

Glad I did not take EN
  • #35,192
  • Apr 9, 2014 2:31am Apr 9, 2014 2:31am
Was hoping if EU would continue the up trend. Current candle broke out higher from TKO but then retrace back into the chops.
Everything you can imagine, is real - Pablo Picasso
  • #35,193
  • Edited 3:13am Apr 9, 2014 2:32am | Edited 3:13am
Quoting DesiBaba
{quote} Each method will give you wins. One is more aggressive than the other so you will get a few more losses but the winners should cover those losses.
Using the 5ema is actually a less agressive as said by big E.

I only take trades that break the 5ema! More losses? Well I don't know about that. Since doing this 4 hour trading the same as page 1 for 4 week now I can't remember a losing day

sometime a more conservative way doesn't alway mean less losses! I think it's more about waiting for the best set-up which will give a higher probability and patients for these trades
Give yourself a chance and trade it like it's layed out...
  • #35,194
  • Apr 9, 2014 2:38am Apr 9, 2014 2:38am
Quoting GilR
{quote} GJ looking much better now! Glad I did not take EN
If it goes up you're a psychic to me Could you explain your entry, please? I've tried to see what you saw, but it shows me nothing
Attached Image
  • #35,195
  • Edited 2:52am Apr 9, 2014 2:39am | Edited 2:52am
Quoting Direwolf
Was hoping if EU would continue the up trend. Current candle broke out higher from TKO but then retrace back into the chops.
Probably just taking out stops above Asian channel high. Can't rule out a stop run against BRN 1.38 though I'd have thought.

Think Zoopots was saying stop hunt area, 25-50 pips above/below high/low of Tokyo channel.

I think Forex is a bit like skittles or bowling. Sometimes don't roll the ball hard enough and only a few skittles fall. Sometimes all of them go.
  • #35,196
  • Apr 9, 2014 2:59am Apr 9, 2014 2:59am
Quoting Zoopots
NZDCHF: Have been watching for a few days now. Really testing .7700 BRN! I missed the major test on 3/28 and Daily pin HA...that H4 entry gave up 100 pips!!!! The H1 is making lower highs and of this posting is showing some divergence.
Pulled the trigger.

Attached Image (click to enlarge)
Click to Enlarge Name: ScreenHunter_21 08-Apr 23.28.jpg Size: 127 KB
  • #35,197
  • Apr 9, 2014 3:04am Apr 9, 2014 3:04am
Quoting Ballistical
{quote} Hi Bizzzle, Just to clarify, are you looking for price to break through the 5EMA in the first candle following colour change? This seems to be the case looking at the picture you posted... Thanks again!
Big E words:
Attached Image
Give yourself a chance and trade it like it's layed out...
  • #35,198
  • Apr 9, 2014 3:04am Apr 9, 2014 3:04am
Quoting GilR
My 6am London trades from my yesterday Bizzle/Ballistica -- are they about right according to EF rules (I did cheat a little in that I set 30p TP for 90 p. Following EF would have been around 130p ( he was the master) {image}{image}{image} JUST NOTICED READING RULES AGAIN THAT EF CLOSED ALL POSITIONS AT THE OPEN OF 2PM BAR

GilR,

Brilliant results on your behalf yesterday! Congrats!

EURGBP:
Personally I would not have held the EURGBP trade through the high impact GBP news at 9:30am but clearly this worked in your favour yesterday. I believe Big E avoided trading pairs with high impact news (red on the FF calendar).

AUDUSD:
Despite this trade working out very well for you in the end, the 6am candle that you entered on was the third blue candle (following the doji) so this was too late according to Big E's rules as he entered on the first two candles following a colour change.

EURAUD:
This entry looks good to me. Technically its a third candle entry again but since the first candle had a very small body Big E spoke about not counting these. Dean Malone, I believe disregards candle body's that are 3 pips or less.

And yes you're right that Big E closed all trades at the beginning of the 2pm candle.

Hope this helps!
Focus on the process and the profits will follow
  • #35,199
  • Apr 9, 2014 3:05am Apr 9, 2014 3:05am
Quoting Bizzzle
{quote} Big E words: {image}
Thanks Bizzzle!
Focus on the process and the profits will follow
  • #35,200
  • Apr 9, 2014 3:06am Apr 9, 2014 3:06am
Quoting Zoopots
{quote} Pulled the trigger. {image}

... to me it looks like a setup to go long......
.... laughing all the way to the bank
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