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Trading Made Simple

  • #35,781
  • Apr 14, 2014 1:28am Apr 14, 2014 1:28am
Quoting Bizzzle
{quote} {quote} If we look at the daily we are in a pretty strong downtrend, Entering long here would not be high probability...
Thank you Bizzzle and Emmanuel for replying.
  • #35,782
  • Apr 14, 2014 1:42am Apr 14, 2014 1:42am
GBPNZD week16 H4 trade.
Note that I am using GMT0 server time so my H4 candles are different from others.

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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #35,783
  • Apr 14, 2014 1:58am Apr 14, 2014 1:58am
Quoting Bizzzle
{quote} Yes... after making nearly 500 pips profit in a month, I will continue
Very pleased to hear this Bizzzle!

I'll be following your posts
Focus on the process and the profits will follow
  • #35,784
  • Apr 14, 2014 2:05am Apr 14, 2014 2:05am
My 10am trades:

EURNZD long: nice cross, stoch confirms, HA goes through 5MA.
Price Action: a doji and confirmation on the first bull candle, trend rather flat.counter trend so moved SL to break-even+3 pips after ~20 pips movement (stopped before screenshot taken: 4.8 spread + 3 pips gain)
Attached Image


NZDUSD short: nice momentum, and cross on the 6am candle, HA shot through 5MA, stoch and stars aligned
Price action: hanging man (correct me if wrong, please) confirmed on the first bear candle, bounce from a tripple top at around 0.86929. Counter trend and I don't like Mondays so SL moved to break-even+3 after ~20 pips of movement (also taken before screenshot, 2 pips spread + 3 gain)
Attached Image


All in all, crap. Well, I guess better 6 pips from ~40 than a loss, especially when you feel it's not your day
  • #35,785
  • Apr 14, 2014 2:05am Apr 14, 2014 2:05am
Quoting Ballistical
Week 2 of trading as Big E did from Page 1 No 6am trades for me. See you at 10!
Just gone long on USDJPY following a TDI cross leaving 32 area and PA closing well above the 5 ema. I'll be closing this trade early since there major news on USD at 1:30pm UK time.
Focus on the process and the profits will follow
  • #35,786
  • Apr 14, 2014 2:07am Apr 14, 2014 2:07am
Quoting hostwey
{quote} The TMS EA has its own thread http://www.forexfactory.com/showthread.php?t=292301 Hope this helps. Interested in using it purely to manage trades while I sleep (asian session) or as a signal service to monitor pairs I don't normally follow.

Great - with respect to Big Eric it is best to keep this thread for what it was intended for...Trading Made Simple! EA's need their own place.
  • #35,787
  • Apr 14, 2014 2:07am Apr 14, 2014 2:07am
Please calm down everyone. Let's get back to our charts

As part of an experiment, I skim through my charts taking every TDI cross with HA color change 15 minutes after the previous H4 candle formed. And here I am, rechecking my charts after 4 hours past.

The result was surprising... I was kinda expecting to see a few reds. Maybe it's due to the JPY move.

Attached Image


Just my opinion - the way big E trade, he wasn't looking for maximum result like some of us are trying with our analysis. His trading style, was to catch momentum, for however big or small it was. And that's it. ride the momentum, makes some pips, get out.

Anyway I can't monitor the next candle so I'll close all my positions now. +30 pips for almost 0 amount of work wasn't bad.

by the way - I'm not saying we should ignore the basic knowledge. For me S/R is something all traders of all system should know.
Everything you can imagine, is real - Pablo Picasso
  • #35,788
  • Apr 14, 2014 2:17am Apr 14, 2014 2:17am
Quoting thinkpad123
{quote} Can you list the problems you are facing, maybe i can look into the matter Sorry if you have mentioned it before but due to fast movement of thread and my busy schedule maybe i missed it.
Thinkpad,
The only problem I have with Cave Manager is that it didn't move SL to BE after the trade was 25 Pips in profit. I did move on one pair and disregarded the settings on another. I had to do it manually. Maybe you can share your CaveManager settings? Thank you for your help.
Those who know don't talk. Those who talk don't know.
  • #35,789
  • Apr 14, 2014 2:31am Apr 14, 2014 2:31am
Quoting hugecat
{quote} Thinkpad, The only problem I have with Cave Manager is that it didn't move SL to BE after the trade was 25 Pips in profit. I did move on one pair and disregarded the settings on another. I had to do it manually. Maybe you can share your CaveManager settings? Thank you for your help.
Did you or anyone else tried MT4's built-in trailing stop? Is it that unreliable?
  • #35,790
  • Apr 14, 2014 2:42am Apr 14, 2014 2:42am
Quoting timginter
{quote}Did you or anyone else tried MT4's built-in trailing stop? Is it that unreliable?
Apparently it's more reliable than EA. I just liked Cavemanager settings but I guess I'm gonna have to go with Trailing Stop.
Those who know don't talk. Those who talk don't know.
  • #35,791
  • Apr 14, 2014 2:46am Apr 14, 2014 2:46am
Quoting hugecat
{quote} Apparently it's more reliable than EA. I just liked Cavemanager settings but I guess I'm gonna have to go with Trailing Stop.

The platform provided trailing stop and the trailing stop by customs software like THV CaveManager are two different trailing methods.
Both are as realibale as the way they are coded. The platform provided ones are usually well tested by more people and I do find them reliable.
There are other technical factors which can affect EA trade managers like THV CaveManager.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #35,792
  • Apr 14, 2014 2:48am Apr 14, 2014 2:48am
This is a no short trade? though TDI cross and Stoch in alignment. Bsc:

1) HA candle hasn't closed below the 5ema, even if it closes below the 5ema on this 2nd candle, it's also a no entry due to it's already #3rd candle?
2) It's on a rising channel (HH, HL) support by Daily bias?

Speaking of HA candle close, the body must close or only its wick will do?

Need guru guidance . Thank you.
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  • #35,793
  • Apr 14, 2014 2:55am Apr 14, 2014 2:55am
Quoting emmanuel7788
{quote} The platform provided trailing stop and the trailing stop by customs software like THV CaveManager are two different trailing methods. Both are as realibale as the way they are coded. The platform provided ones are usually well tested by more people and I do find them reliable. There are other technical factors which can affect EA trade managers like THV CaveManager.
I hear you. I trade D charts and look at them 2-3 times per day max. So if EA trailing stop doesn't trigger for some reason I might miss out on locking profits or chance to move SL on BE. Then I guess it's safer to use built in Trailing stop.
Those who know don't talk. Those who talk don't know.
  • #35,794
  • Apr 14, 2014 3:40am Apr 14, 2014 3:40am
Quoting hugecat
{quote} I hear you. I trade D charts and look at them 2-3 times per day max. So if EA trailing stop doesn't trigger for some reason I might miss out on locking profits or chance to move SL on BE. Then I guess it's safer to use built in Trailing stop.
Have you tried Quick trailing EA...i use this..its very simple and reliable for BE and trailig

You can check its performance...in the paper clip it is named as Quik_Trailing_1.ex4

Regards

omonisha
Sad i'm not trying to understand PA
  • #35,795
  • Apr 14, 2014 3:43am Apr 14, 2014 3:43am
Took a small long position on GJ 4hrly

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  • #35,796
  • Apr 14, 2014 4:15am Apr 14, 2014 4:15am
Quoting omonisha
{quote} Have you tried Quick trailing EA...i use this..its very simple and reliable for BE and trailig You can check its performance...in the paper clip it is named as Quik_Trailing_1.ex4 Regards omonisha
Thank you Omonisha, will do. How is it different from built in Trailing Stop though?
Those who know don't talk. Those who talk don't know.
  • #35,797
  • Apr 14, 2014 4:17am Apr 14, 2014 4:17am
took this pair on H4
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the cautious seldom err....C
  • #35,798
  • Apr 14, 2014 4:29am Apr 14, 2014 4:29am
Quoting hugecat
{quote} Thank you Omonisha, will do. How is it different from built in Trailing Stop though?
Once i tried built in trailing....it seems it wont allow me 5 or 10 pip trail....it wants to trail more than 20 pip...i cant recall now...may be that is the reason i looked for EA trailing..

Good luck
Sad i'm not trying to understand PA
  • #35,799
  • Apr 14, 2014 4:31am Apr 14, 2014 4:31am
A trade taken last week. Was close to being stopped out. Took some off as we approach retail sales data from US in an hour
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the cautious seldom err....C
  • #35,800
  • Apr 14, 2014 4:42am Apr 14, 2014 4:42am
Quoting emmanuel7788
AUDJPY H4 week 16 14 Apr. I use GMT0 server time and the current H4 will close in about one hour. This is what I see. There is a consolidation base and I look for TMS 4H buy. Trade Exit Strategy - preserve trading capital is my top priority. Therefore when market goes against my initial entry, I cut loss at 0.5R. I keep that simple using R and R-Multiple. Anyone with another view, please share here. Trade Well Folks,
Attached Image (click to enlarge)
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{image}
AUDJPY trade update:
Entry on when APB#2 close and TDI cross confirm.
Trade now move inital SL to BE. Risk free trade.

Attached Image (click to enlarge)
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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
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