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Trading Made Simple

  • #36,861
  • Apr 28, 2014 8:06am Apr 28, 2014 8:06am
Quoting safrash
{quote} why closed GJ, I think possible trading green line not cross red TDI
not sure what you mean
  • #36,862
  • Apr 28, 2014 8:08am Apr 28, 2014 8:08am
EURAUD H1 trades today

3 trades, one short two long => in total +70 pips for today with a lucky hand

3rd trade was an reentry of the 2nd trade on TF m15
Attached Image (click to enlarge)
Click to Enlarge Name: 2014-04-28 14.30 EURAUD H1 - profit.png Size: 166 KB
fxFox (all times in my charts are GMT+1)
  • #36,863
  • Apr 28, 2014 8:15am Apr 28, 2014 8:15am
What wonderful trade chance on EURJPY this morning for 75 pips in maximum
Unfortunately I decided this morning to enter in the more choppy EURAUD with my full positions, so I didn't want to open another building lot.
Attached Image (click to enlarge)
Click to Enlarge Name: 2014-04-28 14.30 EURJPY H1 - chance.png Size: 78 KB
fxFox (all times in my charts are GMT+1)
  • #36,864
  • Apr 28, 2014 8:29am Apr 28, 2014 8:29am
Quoting fxFox.mb
What wonderful trade chance on EURJPY this morning for 75 pips in maximum Unfortunately I decided this morning to enter in the more choppy EURAUD with my full positions, so I didn't want to open another building lot. {image}
Yes I agree. I missed all the good setups this morning due to being ill in the night. On EJ note the nice little push into demand prior to going North. Almost like a 'news event'
Attached Image
  • #36,865
  • Apr 28, 2014 8:46am Apr 28, 2014 8:46am
Quoting fxFox.mb
EURAUD H1 trades today 3 trades, one short two long => in total +70 pips for today with a lucky hand 3rd trade was an reentry of the 2nd trade on TF m15 {image}
good job sir
what is indicator using on right up corner m15, m30, H4, D1, W1?

and what is platform?
  • #36,866
  • Apr 28, 2014 8:47am Apr 28, 2014 8:47am
Quoting SeerEye
update on EA I was stalking. Pulled trigger on bounce.. S/L now at B/E. {image}
Woke up this morn and saw the nice whipsaw. Did get stopped out but with 8 positive pips.

Looks like market is finally back in full swing and folks are pippin' along nicely.

Seer
Pip what you see; See what you pip!
  • #36,867
  • Apr 28, 2014 8:48am Apr 28, 2014 8:48am
Quoting safrash
{quote} good job sir what is indicator using on right up corner m15, m30, H4, D1, W1? and what is platform?
Thats an MTF for Heikin Ashi candles - you asked pisp29 before - but this is for the plattform from FXCM.
fxFox (all times in my charts are GMT+1)
  • #36,868
  • Apr 28, 2014 9:06am Apr 28, 2014 9:06am
Quoting Tiggrrr
EUR/USD is at the moment about to make a mild BEAR move down... As you can see on the 4H chart.... it is forming a triangle formation. The breakout will be a BULL breakout BTW. First Picture is the 4H Chart. The support will be your TP area. {image} Second Picture is the Daily Chart. Its indicated that the breakout will be BULL. {image}
Not sure why you have drawn your trendlines as you have. The normal most reliable way of drawing trendlines is from high to high/low to low or close to close not both in one trendline as you have the top one. If drawn high to high, then it is now testing that trendline and will either come back down from there or go through after a little mucking about as its done for the last 7 hours.
  • #36,869
  • Apr 28, 2014 9:11am Apr 28, 2014 9:11am
Quoting fxFox.mb
What wonderful trade chance on EURJPY this morning for 75 pips in maximum Unfortunately I decided this morning to enter in the more choppy EURAUD with my full positions, so I didn't want to open another building lot. {image}
Nice Trades FxFox, I was able to catch 18 pips on EJ I had to leave and didn't like leave it open, I saw EA more Choppy....and passed on it , overall well done
  • #36,870
  • Apr 28, 2014 9:20am Apr 28, 2014 9:20am
Quoting Ballistical
I was a little late to my charts today but taken 10am candles on EURUSD, EURJPY and USDCHF Good luck all!
Wow, well that didn't work out

I thought these 10am trades were fairly safe given that there was no major news and they looked like strong setups.

EURUSD- -19

EURJPY- -5

USDCHF- -20

Total- -44

Can anyone tell me what I missed on these? I'm stumped...
Attached Image(s) (click to enlarge)
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Focus on the process and the profits will follow
  • #36,871
  • Apr 28, 2014 9:24am Apr 28, 2014 9:24am
Quoting pips29
{quote} If on H1 I see a pinbar showing rejection from shaded area I will short this bugger. The shaded area looks very strong resistence {image}
looks like it's trying really hard to push through that area. No set up for me either way now.
Pip what you see; See what you pip!
  • #36,872
  • Apr 28, 2014 9:32am Apr 28, 2014 9:32am
Quoting Ballistical
{quote} Wow, well that didn't work out I thought these 10am trades were fairly safe given that there was no major news and they looked like strong setups. EURUSD- -19 EURJPY- -5 USDCHF- -20 Total- -44 Can anyone tell me what I missed on these? I'm stumped... {image} {image} {image}
You went in after very long candles (long compared to their size lately) so you either prepare yourself for putting your stop loss behind a very large candle or go to a smaller timeframe and watch for a pullback.
  • #36,873
  • Apr 28, 2014 9:36am Apr 28, 2014 9:36am
Would have been good to go long on EURAUD daily a few days ago. Why do I see these setups now? Grrrr

Two pushes into demand and away she went.. Would have been 150 pips up by now. S/L immediately below the blue area.
Attached Image
  • #36,874
  • Apr 28, 2014 9:50am Apr 28, 2014 9:50am
Quoting Ballistical
{quote} Wow, well that didn't work out I thought these 10am trades were fairly safe given that there was no major news and they looked like strong setups. EURUSD- -19 EURJPY- -5 USDCHF- -20 Total- -44 Can anyone tell me what I missed on these? I'm stumped... {image} {image} {image}
Did you enter too late on all of them? I can't see open/close price, but my charts look a bit different, the 10am EJ setup was perfect
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot3.png Size: 28 KB


EDIT: last 3 candles on the charts are 6am to 10am, 10am to 2pm and 2pm+
  • #36,875
  • Apr 28, 2014 10:02am Apr 28, 2014 10:02am
Quoting lastingwell
{quote}You went in after very long candles (long compared to their size lately) so you either prepare yourself for putting your stop loss behind a very large candle or go to a smaller timeframe and watch for a pullback.

Quote
Did you enter too late on all of them? I can't see open/close price, but my charts look a bit different, the 10am EJ setup was perfect


Thank you both for your insight. Yes I was a little late to my charts and it seems I missed the main move on EUR.

Big E used to constantly mention about HA/ APB candles trending in one direction for 3 to 8 candles. What might not be immediately apparent to those learning this method is that a blue HA candle can represent a drop in price and a red HA candle can represent a rise in price. I think this is important, especially when only trying to catch 1 or 2 candles movement as demonstrated in his 4HR strategy.

Time for some more back-testing
Focus on the process and the profits will follow
  • #36,876
  • Apr 28, 2014 11:12am Apr 28, 2014 11:12am
Quoting Ballistical
{quote} {quote} Thank you both for your insight. Yes I was a little late to my charts and it seems I missed the main move on EUR. Big E used to constantly mention about HA/ APB candles trending in one direction for 3 to 8 candles. What might not be immediately apparent to those learning this method is that a blue HA candle can represent a drop in price and a red HA candle can represent a rise in price. I think this is important, especially when only trying to catch 1 or 2 candles movement as demonstrated in his 4HR strategy. Time for some more back-testing...
What i do is have two charts open, one with TMS and the other with regular Candlesticks. Unless i can catch it early, I usually avoid entering on a huge candle like that because the market tends to range around a bit after such a strong move. If you align HA candle next to regular Japanese Candlesticks you will see a slight difference. It helps me filter out bad trades.
  • #36,877
  • Edited 11:42am Apr 28, 2014 11:21am | Edited 11:42am
Quoting Ballistical
{quote} {quote} Thank you both for your insight. Yes I was a little late to my charts and it seems I missed the main move on EUR. Big E used to constantly mention about HA/ APB candles trending in one direction for 3 to 8 candles. What might not be immediately apparent to those learning this method is that a blue HA candle can represent a drop in price and a red HA candle can represent a rise in price. I think this is important, especially when only trying to catch 1 or 2 candles movement as demonstrated in his 4HR strategy. Time for some more back-testing...
Yes HA/APB candles are great for following the trend but not so good for trading reversals. I tend to zoom in and show the real Japanese candles. Sometimes the second H1/H4 candle is either very small, or going in the opposite direction!

For example your EJ trade this morning. I have marked the 8am, 12am and 16pm candles on the H1 chart as green verticle lines, and by the 12am candle the move had started to flatten out and loose momentum.

If you were slightly late on entry with slippage and spread etc you would have lost money. If you had seen the H1 chart or the real candles you might have reconsidered your position. My server is GMT +1 (BST).

I've got a feeling the really big moves will come next week after NFP on Friday, famous last words and all that.
Attached Image (click to enlarge)
Click to Enlarge Name: h4eurjpyh1.png Size: 31 KB
  • #36,878
  • Apr 28, 2014 11:23am Apr 28, 2014 11:23am
I've got a sell stop, that I set up on AUD/JPY at 8am GMT, I didn't get a chance to post the chart before I left for work.
Attached Image (click to enlarge)
Click to Enlarge Name: 28th Apr 14 AUD:JPY D1 Chart.png Size: 125 KB
  • #36,879
  • Apr 28, 2014 12:17pm Apr 28, 2014 12:17pm
Quoting Agk007
{quote} What i do is have two charts open, one with TMS and the other with regular Candlesticks. Unless i can catch it early, I usually avoid entering on a huge candle like that because the market tends to range around a bit after such a strong move. If you align HA candle next to regular Japanese Candlesticks you will see a slight difference. It helps me filter out bad trades.
Quote
Yes HA/APB candles are great for following the trend but not so good for trading reversals. I tend to zoom in and show the real Japanese candles. Sometimes the second H1/H4 candle is either very small, or going in the opposite direction!

For example your EJ trade this morning. I have marked the 8am, 12am and 16pm candles on the H1 chart as green verticle lines, and by the 12am candle the move had started to flatten out and loose momentum.

If you were slightly late on entry with slippage and spread etc you would have lost money. If you had seen...


Thanks AGK and Hostwey.

Looking at regular candlesticks alongside HA's is not something Big E ever mentioned but maybe his experienced eye was just better at filtering those bad trades.

I'll bear it in mind.

Thanks again!
Focus on the process and the profits will follow
  • #36,880
  • Apr 28, 2014 12:47pm Apr 28, 2014 12:47pm
Quoting Ballistical
{quote} {quote} Thanks AGK and Hostwey. Looking at regular candlesticks alongside HA's is not something Big E ever mentioned but maybe his experienced eye was just better at filtering those bad trades. I'll bear it in mind. Thanks again!
No problem! You are correct he didn't directly mention it in this method, i think it does fall into the experienced eye category. Like any method you will have losers no matter how good the system/method is and how well it is followed. What is important is it works most of the time.
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