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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

  • #37,121
  • May 5, 2014 6:21pm May 5, 2014 6:21pm
Quoting emmanuel7788
EURNZD week19 H4: Now watching closely how this will develop this week and into next week. It is counter trend to last week's strong move down. Better to let price develop in a consolidation and see how the TDI PL and TSL will move above the MBL. There is a huge Weekly Master Candle. watch out 1.6200 BRN. {image}
Attached Image (click to enlarge)
Click to Enlarge Name: EURNZD week19 H4 GMT0630 .png Size: 56 KB


As you see in the above chart, I waited for that H4 candle to close.
And below chart shows that H4 candle price pull back and closed bearish. Compare the TDI and Stoch positions, how these changes when a candle closed.

Attached Image (click to enlarge)
Click to Enlarge Name: EURNZD week19 5May H4 trade entry.png Size: 33 KB


With the H4 price pull back, I look at the H1 chart and that shows a nice PCRF, which is a valid continuation of the current trend from last Friday. In my opionion a A+++ trade setup.
When we want to trade using Dynamic Candle Entry on H4, we must see H1 that that is in synergy using both the PA and the APB and TDI as confirmation.

Attached Image (click to enlarge)
Click to Enlarge Name: EURNZD week19 5May H1 entry.png Size: 25 KB



This was the only decent set up I see on the pairs I usually trade. Market liquidity was thin on Monday with the bank holidays and also the Eurogroup meeting. Today 6 May is ECOFIN meeting, so we do not know what the market liquidity will be like.

regards,

EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #37,122
  • May 5, 2014 7:13pm May 5, 2014 7:13pm
Quoting hoperich
{quote} Sorry correction. PA is making LH...
Nice trade - well done and thanks for posting.

Please can you also post the indi for upcoming news events?

Thanks!
  • #37,123
  • May 5, 2014 10:20pm May 5, 2014 10:20pm
My EA H1 Lost trade yesterday....Feel free to comment

Attached Image (click to enlarge)
Click to Enlarge Name: EA H1 Lost Trade.png Size: 61 KB

Attached Image (click to enlarge)
Click to Enlarge Name: EA Lost trade money.png Size: 3 KB


Regards
  • #37,124
  • May 5, 2014 10:28pm May 5, 2014 10:28pm
What do you guys think of how AJ looks on the 1H? Bounced of yesterdays high, TDI cross, 2nd candle. Any thoughts?

Nevermind. Huge AUD news in an hour.
  • #37,125
  • May 5, 2014 10:32pm May 5, 2014 10:32pm
2 Great resources. I am not promoting Oanda just wanted to share what I found listening to one Webinar on Youtube.

Currency Strength Heatmap

http://fxtrade.oanda.com/analysis/currency-heatmap

Currency Correlation

http://fxtrade.oanda.com/analysis/currency-correlation​

Currency Correlation helps us to pick pairs that are going in the same direction or opposite and make placing trades easy or pick pairs to test for sometime.

Hope this helps.

Kind regards
  • #37,126
  • May 5, 2014 11:21pm May 5, 2014 11:21pm
Quoting MrAussieFX
My EA H1 Lost trade yesterday....Feel free to comment {image} {image} Regards
Aussie, one thing I really work hard at is staying with my trade and my game plan (discipline). If I had executed that trade my S/L would have been 2-3 pips above the very first blue candle on your chart you posted. That would have given things enough 'breathing room.' /(not by much, but... lol) I know people may talk about MM and risk management etc, etc. But, I would have taken that into account at the time of execution and setting my stop loss.
With TMS and especially on the 4hr... giving myself enough breathing room ( a comfortable s/l) allows for my probable mistakes in execution of my entry point.
Compared to my method of trading from a few years ago, this is a whole new skillset to learn. Yet, I'm finding myself being much more selective in entry points, giving myself a wide berth for a s/l and patience on allowing my t/p to actually execute as well (instead of closing early). The result of these practices are a higher percentage of winning trades with measurably larger pip baskets.

Good stuff. Thanks for posting that trade Aussie.... not much to trade right now and I enjoyed the mental exercise.

Seer
Pip what you see; See what you pip!
  • #37,127
  • May 5, 2014 11:31pm May 5, 2014 11:31pm
Quoting MrAussieFX
My EA H1 Lost trade yesterday....Feel free to comment {image} {image} Regards
Hey MrAussie,

Here's my take on this trade. The vertical lines are where I have my entries and exits.

As you can see I have the Slope Stoch overlay on my TDI and I like to see a cross of both the Stoch (from above the 80 level) and the TDI (from above 50 level) for a stronger ENTRY signal.

FIRST TRADE - The first entry is on the weak side due to the flatness of the red TDI signal line. The exit is based on the TDI reversal hook, the orange 'danger' part of the stochastic, and the Blue HA candle.

SECOND TRADE - Same reason for the entry. It could have been more conservative by waiting for the red TDI to cross below the MBL). IF PA is strong (look at the angle of the PAC and the red TDI signal line) then I don't use the TDI reversal to exit. Often the reversal becomes a bounce trade on the next candle when PA is strong. For the exit here I used the 2nd TDI reversal because the Stoch had crossed up above the 20 level.

I don't use the MBL as a specific - I regards it more as a zone and see how close the green and red TDI lines are to it.

Hope that helps....
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 131 KB
  • #37,128
  • May 5, 2014 11:45pm May 5, 2014 11:45pm
@SeerEye, @Gavman

Appreciate your feedback and time.

Kind Regards
  • #37,129
  • May 6, 2014 12:01am May 6, 2014 12:01am
Quoting gavman
{quote} Nice trade - well done and thanks for posting. Please can you also post the indi for upcoming news events? Thanks!
Hi gaveman,

Here is the indi for upcoming News.

Thanks, hoperich
Attached File(s)
File Type: ex4 FFCal Headlines.ex4   36 KB | 408 downloads
  • #37,130
  • May 6, 2014 12:41am May 6, 2014 12:41am
No trades. News just came out for Aussie, hence the volatility (also it's 3 candles after TDI crossing, so no trade). I entered UJ, looked like it crossed, but it didn't... VERY small position. Might close due to Japan holiday, i found out after i entered trade. 6AM trades. See ya at 10AM!
  • #37,131
  • May 6, 2014 1:20am May 6, 2014 1:20am
Quoting hoperich
{quote} Hi gaveman, Here is the indi for upcoming News. Thanks, hoperich {file}
Thanks Hoperich,

I need this stuff in my face - one of my weakpoints is remembering news events and times :-)
  • #37,132
  • May 6, 2014 1:32am May 6, 2014 1:32am
Quoting olly93
What do you guys think of how AJ looks on the 1H? Bounced of yesterdays high, TDI cross, 2nd candle. Any thoughts? Nevermind. Huge AUD news in an hour.
Hello olly93,

Here is my review of AUDJPY, using the same cosnistent approach in Big Picture Planning and look for those Historical Swing Levels as Support and Resistance.

First the Monthly chart, we look for those MN swing levels:
Attached Image (click to enlarge)
Click to Enlarge Name: AUDJPY MN chart.png Size: 64 KB


Then down to the D1 chart, to look at the Price Action and look for potential D setups:
Attached Image (click to enlarge)
Click to Enlarge Name: AUDJPY D1 chart.png Size: 60 KB


Now I go down to the H4 chart, where I look for intra-week 4H swing trade setups.
Attached Image (click to enlarge)
Click to Enlarge Name: AUDJPY H4 chart.png Size: 68 KB


In the H4 chart above, we see one of my favourite setup at Prev W Fib 127%, with APB change colour and TDI confirm.
This can be seen better in H1 where we will see a Double Bottom Reversal.

Trade Well.

regards,

EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #37,133
  • May 6, 2014 1:40am May 6, 2014 1:40am
Quoting emmanuel7788
{quote} {image} As you see in the above chart, I waited for that H4 candle to close. And below chart shows that H4 candle price pull back and closed bearish. Compare the TDI and Stoch positions, how these changes when a candle closed. {image} With the H4 price pull back, I look at the H1 chart and that shows a nice PCRF, which is a valid continuation of the current trend from last Friday. In my opionion a A+++ trade setup. When we want to trade using Dynamic Candle Entry on H4, we must see H1 that that is in synergy using both the PA and the APB...

My EURNZD H4 trade update:

Trade running floating +75pips....protected.
Attached Image (click to enlarge)
Click to Enlarge Name: EURNZD H4 week19 trade update.png Size: 34 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #37,134
  • May 6, 2014 1:59am May 6, 2014 1:59am
Quoting MrAussieFX
My EA H1 Lost trade yesterday....Feel free to comment {image} {image} Regards

Hi MrAussieFx,

Hindsight is 20:20 vision so I will not make any comment on your chart and trade.
Trading H1 intraday, we can buy and sell in the same day.
What I learned from X-Man and his S3 H1 trading is we give more weight on Price Action and use the TDI as the confirmation.
It is different in the way eelfranz uses the TDI in his H4 trading method, where the TDI is use as the entry and exit .

As I follow your posts, I learn too and therefore I think what is more important is that you find a consistent approach in how you trade H1 and when you achieve the high winrate above 50%, just stick to the same consistent approach. Put more weight on Price Action type of setups and you will do well.

Trade Well.

regards,

EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #37,135
  • May 6, 2014 2:10am May 6, 2014 2:10am
Quoting emmanuel7788
{quote} My EURNZD H4 trade update: Trade running floating +75pips....protected. {image}
+1

Same trade taken on D1 chart from 30-04 is up to +150 pips still running.

But didn't had the time to post the chart will upload in the evening all open positions.
  • #37,136
  • May 6, 2014 2:20am May 6, 2014 2:20am
Quoting alex8585
{quote} +1 Same trade taken on D1 chart from 30-04 is up to +150 pips still running. But didn't had the time to post the chart will upload in the evening all open positions.

D chart looks very good when the pullback from 1.6200.
Now we should manage for final TP 1.5850.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #37,137
  • May 6, 2014 2:28am May 6, 2014 2:28am
Quoting emmanuel7788
{quote} D chart looks very good when the pullback from 1.6200. Now we should manage for final TP 1.5850.
You are the man even if i didn't mentioned TP you find exectly my TP where is placed.

Good trades to all.
  • #37,138
  • May 6, 2014 2:33am May 6, 2014 2:33am
Quoting MrAussieFX
My EA H1 Lost trade yesterday....Feel free to comment {image} {image} Regards
Seems you got hit by Aussie news at 5.30 AM, cash rate and RBA statement.
  • #37,139
  • May 6, 2014 2:40am May 6, 2014 2:40am
Back trading today didn't trade yesterday as it was a bank holiday here, I am in two longs from 6am EU and GU!

Hope everyone is well and good
Give yourself a chance and trade it like it's layed out...
  • #37,140
  • May 6, 2014 2:43am May 6, 2014 2:43am
GBPUSD week19 making new high...!

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD week19 MN new high.png Size: 44 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
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