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Monitor for 'Trading Made Simple' system 565 replies

Trading Made Simple the right way, and other trading lessons 334 replies

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Trading Made Simple

  • #35,521
  • Apr 11, 2014 1:48am Apr 11, 2014 1:48am
Quoting emmanuel7788
{quote} already got my 10% profit cycle in 4 trading days this week, so today I relax and sit back. Today only demo and testing this EA various conditions. thanks mate! take some time for a few schooners of Weizen and bratwurst.
Well deserved for all help you give, knowing that you give it freely even if at times we dont give the appreciation deserved
  • #35,522
  • Apr 11, 2014 1:53am Apr 11, 2014 1:53am
Quoting geomoon
{quote} Nice trades fxFox.mb , I'm trying to clone Phx62 trading style as you do and took the EA trade today and I got a nice 30 pip, the EJ trade was too crowded for me take the trade and didn't have a clear shot , I can see that you developed a good understanding about pullback candles formation which I find it's not easy to grasp, I'm trying to backtest everything but the markets are changing most of the time , do you try to find other pullback formations or just what was found in Phx62 PDfs ? Thanks
geomoon,

I search for PCRFs defined by phx62 - consisting of three candles, where the third one changes APB color and is supported by a TDI cross.

But for me PCRF's are a little tricky, particularly depending on where they occur. I sometimes have problems that a PCRF establishes as a fake and doesn't lead into a longer move.

Look at my first EURJPY trade yesterday - I tried to get in on a better price, after the right blue candle of the PCRF allready went 23 pips up. phx62 sometimes enters immediately on the third candle which exceeds the pinbar and there is momentum in the move. But for me that is a difficult decision. I often saw the running third candle exceed the pinbar, only to come back again after I entered. So I try to wait. But even that is no guarantee, as you can see in this first trade. The move after the PCRF had allready 50% of the previous move and leaded into another small downside move, before the next PCRF established a real trade chance to the upside.

So it's important to let come different things together - like an S/R zone or Fibo retracement or channel or trendline or TDI situation ...

I personally like more mastercandle breakouts and similar formations with OB's/IB's or TOK_5H breakouts, because they often are consolidation formations in an existing trend and afterwards you mcan follow the trend not the reversal which is often countertrend.

fxfox
fxFox (all times in my charts are GMT+1)
  • #35,523
  • Apr 11, 2014 1:53am Apr 11, 2014 1:53am
Hi Zoopots,

What eas are you using and how do you instal them on the MT4 platform? Also, which charting software do you use?

Thank you.
  • #35,524
  • Apr 11, 2014 1:54am Apr 11, 2014 1:54am
Quoting gavman
{quote} THanks!!!! this is so good and so helpful.
It is but it is the quality of the candles (momentum) and the quality of the TDI cross (momentum) that makes the difference. Also worth checking TDI for hidden divergence and continuation patterns too.
  • #35,525
  • Apr 11, 2014 2:06am Apr 11, 2014 2:06am
Quoting fxFox.mb
{quote} geomoon, I search for PCRFs defined by phx62 - consisting of three candles, where the third one changes APB color and is supported by a TDI cross. But for me PCRF's are a little tricky, particularly depending on where they occur. I sometimes have problems that a PCRF establishes as a fake and doesn't lead into a longer move. Look at my first EURJPY trade yesterday - I tried to get in on a better price, after the right blue candle of the PCRF allready went 23 pips up. phx62 sometimes enters immediately on the third candle which exceeds the...
I thought PCRF were tricky too and wondered if the formed as a result of supply and demand zones. If the supply and demand zone is fresh (new) it might help with filtering. Even if the supply/demand zone is not fresh they will act historically as support/resistance. Just a thought.
Attached Image (click to enlarge)
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  • #35,526
  • Apr 11, 2014 2:17am Apr 11, 2014 2:17am
Thought it would be a good exercise for me anyway to expalin why EJ was a good trade and EURCHF (currently diving rather than swimming) was a bad trade.

Attached Image (click to enlarge)
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Apart from Big E rules, I see some things I like . I am trading with the H4 channel and a strong H channel. Also I have found personally that taking the second candle entry from the previous closed bar cross entry works better for me.

Attached Image (click to enlarge)
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Hindsight can be a tormentor or teacher. Now after entering I see things I don't like. H channel steeply against me, 4h and Daily channel against me. THis entry was also based on TMI cross at the open of the bar. So in effect you have no price confirmation apart from the TMI cross etc

Would like some input kindly
  • #35,527
  • Apr 11, 2014 2:18am Apr 11, 2014 2:18am
Two trades from midnight on D charts. EG +4. UCad -7. UChf is still running for 4 days +121.
Attached Image(s) (click to enlarge)
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Those who know don't talk. Those who talk don't know.
  • #35,528
  • Apr 11, 2014 2:19am Apr 11, 2014 2:19am
Quoting GilR
Thought it would be a good exercise for me anyway to expalin why EJ was a good trade and EURCHF (currently diving rather than swimming) was a bad trade. {image} Apart from Big E rules, I see some things I like . I am trading with the H4 channel and a strong H channel. Also I have found personally that taking the second candle entry from the previous closed bar cross entry works better for me. {image} Hindsight can be a tormentor or teacher. Now after entering I see things I don't like. H channel steeply against me, 4h and Daily channel against me....
I looked at EURCHF (not one I follow) earlier from your original post. It only has a very small daily range, and looked pretty exhausted on M15 chart IIRC
  • #35,529
  • Apr 11, 2014 2:21am Apr 11, 2014 2:21am
Quoting hostwey
{quote} I looked at EURCHF (not one I follow) earlier from your original post. It only has a very small daily range, and looked pretty exhausted on M15 chart IIRC
Yeah it was the gamblers choice Hopefully it will get me out square at 10am
  • #35,530
  • Apr 11, 2014 2:23am Apr 11, 2014 2:23am
Quoting hugecat
Two trades from midnight on D charts. EG +4. UCad -7. UChf is still running for 4 days +121. {image} {image}
Feels good with pips in surplus
  • #35,531
  • Apr 11, 2014 2:28am Apr 11, 2014 2:28am
Quoting GilR
{quote} Feels good with pips in surplus
Ideed And I sleep better too.
Those who know don't talk. Those who talk don't know.
  • #35,532
  • Apr 11, 2014 2:34am Apr 11, 2014 2:34am
Just got home, missed the first H4 candle.

However from a quick look without zooming out chart, I think today would have been a great day if I enter according to Big E! Question is if I would be able to spot them at the start of the candle.
Attached Image
Everything you can imagine, is real - Pablo Picasso
  • #35,533
  • Apr 11, 2014 3:06am Apr 11, 2014 3:06am
Quoting Direwolf
Just got home, missed the first H4 candle. However from a quick look without zooming out chart, I think today would have been a great day if I enter according to Big E! Question is if I would be able to spot them at the start of the candle. {image}

here is what I see PA ...PA ...PA ....using candlestick/price bar.

Dojis
UPthrust Bar

Attached Image (click to enlarge)
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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #35,534
  • Apr 11, 2014 3:09am Apr 11, 2014 3:09am
after 2 half-liter weizen and few bratwurst, you folks better don't listen to what I say about trading when you are trading with hardearned money.... its Friday Happy Hour here .....
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #35,535
  • Apr 11, 2014 3:10am Apr 11, 2014 3:10am
Quoting hugecat
{quote} Ideed And I sleep better too.

Zzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzz............
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #35,536
  • Apr 11, 2014 3:22am Apr 11, 2014 3:22am
Quoting emmanuel7788
please don't tell me clsoing all trades at 2pm London time is your exit strategy...
eelfranz wrote several times he's goal is to catch momentum. If the trade went further after he's exit at 2pm London he would re-enter (next day, I assume). Why not? TMS in it's original form seems a scalping system - detect high momentum -> catch the second or/and third candle -> cash in


My EJ long got stopped at BE+10 pips... Damn, should have closed a counter-trend trade for over 20 pips, 1:1RR
Attached Image


CHFJPY went up 28 pips, GJ for 22 and UJ for 9, but I didn't enter either of those, entries looked a bit weak.

EDIT: CHFJPY entry doesn't seem that bad now, actually. Setup candle had over 20 pips, Stoch and TDI crossed and up. I guess it was worse than EJ so I gave up on it in EJ favour
  • #35,537
  • Apr 11, 2014 3:22am Apr 11, 2014 3:22am
Hi Emmanuel, I'm not familiar with up thrust bar and dynamic candle entry. Can you elaborate please? Upthurst bar sounds like an engulfing bar with some wicks?

Googled and found a youtube on up thrust bar but the india accent was kinda difficult to listen to.
Inserted Video
Everything you can imagine, is real - Pablo Picasso
  • #35,538
  • Apr 11, 2014 3:30am Apr 11, 2014 3:30am
Quoting Direwolf
Hi Emmanuel, I'm not familiar with up thrust bar and dynamic candle entry. Can you elaborate please? Googled and found a youtube on up thrust bar but the india accent was so difficult to understand. http://www.youtube.com/watch?v=TfyI6wLcVz0
LOL

very easy for me to understand since my parents are from India!

However I am born and raised in Canada so its still funny to hear it
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  • #35,539
  • Edited 3:56am Apr 11, 2014 3:36am | Edited 3:56am
Quoting Direwolf
Hi Emmanuel, I'm not familiar with up thrust bar and dynamic candle entry. Can you elaborate please? Upthurst bar sounds like an engulfing bar with some wicks? Googled and found a youtube on up thrust bar but the india accent was so difficult to understand. http://www.youtube.com/watch?v=TfyI6wLcVz0

an Uptrust bar must close above the high of the bar before it. The body of that UPthrust bar must be as large as its low to high with small wicks. Candle body size show the buying strength or momentum.
This Upthurst bar is use to decide on Dynamic Candle Entry when the APB is actualy candle#1.
Notice the previous bar bafore tha UPthrust bar, the APB is red but the real price is bullish. I don't like to use the APB alone for entry decision, more weigth on Japanese Candlestick.

Edit: You figure out what a DOWNthrust bar is like, Just the opposite.

You prefer English accent, you will hate my Scottish Grampians accent (my great great great great great ancestor's).
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #35,540
  • Apr 11, 2014 3:43am Apr 11, 2014 3:43am
EURNZD and NZDUSD h4 look interesting. They seem to be forming morning/evening star patterns on japanese candlesticks.
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