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Trading Made Simple

  • #37,461
  • May 14, 2014 4:41am May 14, 2014 4:41am
Quoting stevepatt
Take a look at the charts below, would anyone be looking to enter the pull back, after a good bearish trend, on the H4 chart? Because I love this setup on H4 and above but it doesn't always comply with TMS rules because the TDI won't have crossed when placing the Stop Order. I don't have the time to watch this on H1 but by placing a Stop Order on H4 I can still trade it and if the market continues going in the direction of the pull back there's no harm done. {image} {image}

Excellent post. Plenty to learn when I open up my mind to learn.
Back to the very basics in trend trading.
Sell the rallies
Buy the dips.

Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #37,462
  • May 14, 2014 4:49am May 14, 2014 4:49am
Quoting stevepatt
I set a Sell Stop on USD/JPY D1 following what I set out in this Post 37,468 the TDI, on D1, hasn't crossed yet but I'm in line with the W1 TDI It's not strictly TMS and I'll stop posting this kind of setup if anyone gets upset about me breaking the rules {image} {image}

Very interesting Weekly chart of UJ
Abenomics has worked itself nicely to a support level/region.

I will be upset if you stop posting such good quality posts with so many lessons. A breath of fresh air.
Keep the good work and posts coming. There are many people here with open minds to learn.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #37,463
  • May 14, 2014 5:42am May 14, 2014 5:42am
Quoting stevepatt
I set a Sell Stop on USD/JPY D1 following what I set out in this Post 37,468 the TDI, on D1, hasn't crossed yet but I'm in line with the W1 TDI It's not strictly TMS and I'll stop posting this kind of setup if anyone gets upset about me breaking the rules {image} {image}
Keep posting Stevepatt, excellent work also your input commenting your view helping traders
  • #37,464
  • May 14, 2014 5:52am May 14, 2014 5:52am
stevepatt. I've no problem with your posts. You've gone to some trouble to produce them and if they want, people can learn from them. Keep posting.
  • #37,465
  • May 14, 2014 6:05am May 14, 2014 6:05am
Quoting stevepatt
I set a Sell Stop on USD/JPY D1 following what I set out in this Post 37,468 the TDI, on D1, hasn't crossed yet but I'm in line with the W1 TDI It's not strictly TMS and I'll stop posting this kind of setup if anyone gets upset about me breaking the rules {image} {image}
I don't think anyone has ever got upset about anyone posting their real trading charts on the thread as long as it includes the TDI which yours does.
  • #37,466
  • May 14, 2014 6:35am May 14, 2014 6:35am
Quoting stevepatt
I set a Sell Stop on USD/JPY D1 following what I set out in this Post 37,468 the TDI, on D1, hasn't crossed yet but I'm in line with the W1 TDI It's not strictly TMS and I'll stop posting this kind of setup if anyone gets upset about me breaking the rules {image} {image}
Steve,
Your posts are always excellent. Keep posting and we are learning a lot with this kind of teaching. Simple and cool.
  • #37,467
  • May 14, 2014 7:43am May 14, 2014 7:43am
Quoting Pervis
4 success trade today. {image} {image} {image}
Hi Pervis,


I liked your template, please can you share your template and indicators

Regards
  • #37,468
  • May 14, 2014 8:10am May 14, 2014 8:10am
Quoting WDays
Took a GJ long based on H4 during the FO candle, when it turned against me, I noticed a good setup on EJ H1 (at LO this time), so I took it... Currently b/e is locked, and I'm hoping for my 50 pip TP to be hit within the next few hours.... It is also worth noting that price has breached a weekly bullish trendline... Also I will start taking Bizzle's advice more often (taking long crosses above MBL and short crosses below MBL for my trades), and I will try to follow a few parameters for picking my trades better starting today. EJ was a candle color...
Out with +20, trailed SL to previous just above the consolidation after my TP was barely hit at 47 pips...
  • #37,469
  • May 14, 2014 8:23am May 14, 2014 8:23am
Quoting WDays
{quote} Out with +20, trailed SL to previous just above the consolidation after my TP was barely hit at 47 pips...
Nice one WD. PA is really choppy today
.... laughing all the way to the bank
  • #37,470
  • May 14, 2014 8:23am May 14, 2014 8:23am
Quoting WDays
{quote} Out with +20, trailed SL to previous just above the consolidation after my TP was barely hit at 47 pips...
I hate using Trailing SL because they will always get hit.... You had your SL at BE so you took all the risk off the trade!

A good thing to do other than trail your stops is place then above a lower high once formed... this way your staying with then trend and once the lower high is taken out then we can expect a reversal, so you can maximum your profits.

Best of luck
Give yourself a chance and trade it like it's layed out...
  • #37,471
  • May 14, 2014 8:29am May 14, 2014 8:29am
Quoting WDays
{quote} Out with +20, trailed SL to previous just above the consolidation after my TP was barely hit at 47 pips...
Good work considering it was a big news day for GBP.
  • #37,472
  • May 14, 2014 8:31am May 14, 2014 8:31am
Why the GC 1H pin bar is not working? It got rejected from the support zone (blue shade) - suppose to be a strong PA?
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  • #37,473
  • May 14, 2014 8:34am May 14, 2014 8:34am
This little weak demand or support area is coming under pressure at the moment. Might be of interest to EA fans.
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  • #37,474
  • May 14, 2014 8:38am May 14, 2014 8:38am
Quoting Bizzzle
{quote} I hate using Trailing SL because they will always get hit.... You had your SL at BE so you took all the risk off the trade! A good thing to do other than trail your stops is place then above a lower high once formed... this way your staying with then trend and once the lower high is taken out then we can expect a reversal, so you can maximum your profits. Best of luck
I used M15 to trail my stop above a swing high, unfortunately I may have put it too close, and it got taken out when the last candle moved a bit higher. Otherwise I would never trail either, but it just felt stupid to take 0 pips because price missed my TP by less than 5 pips...
  • #37,475
  • May 14, 2014 8:58am May 14, 2014 8:58am
Couple of my trades closed today.

Green Crossed Red and Yellow
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Give yourself a chance and trade it like it's layed out...
  • #37,476
  • May 14, 2014 9:47am May 14, 2014 9:47am
Quoting pastecopy
Why the GC 1H pin bar is not working? It got rejected from the support zone (blue shade) - suppose to be a strong PA? {image}
The best thing about synergy/HA bars is that you don't have to worry very much about candle patterns because if the pin bar had been a confirmed pin bar (ie. breaking the top of the high) the synergy bar would have turned blue. The bars haven't turned blue because its not a confirmed pin. Take a look yourself at a japanese candle pattern chart and compare it to when the colour changes on a synergy candle and you will see what I mean.
  • #37,477
  • May 14, 2014 9:50am May 14, 2014 9:50am
This is a good webinar showing the importance of having a plan of action for our trading.

How many of us know that when we move our SL to BE after the market has moved xxx amount of pips, in our favour, that we are improving the performance of the system and not actually making the performance worse?

Without detailed results we don't know.

Here's the link to the webinar Post 14,138
  • #37,478
  • May 14, 2014 10:14am May 14, 2014 10:14am
Quoting Bizzzle
Couple of my trades closed today. Green Crossed Red and Yellow {image} {image}
Excellent trades
  • #37,479
  • May 14, 2014 10:51am May 14, 2014 10:51am
Quoting Bizzzle
Couple of my trades closed today. Green Crossed Red and Yellow {image} {image}
Grats... Really admiring your patience and ability to trade longer TFs
  • #37,480
  • Edited 11:09am May 14, 2014 10:53am | Edited 11:09am
So like I was saying, trailed my first trade's stop to just above the swing high on M15, and then a little later I re-entered using M15. It went +10, but then turned and so I decided I was cutting it loose (at +3) and decided I was going to call it a day...

Quoting itsallover
{quote} Nice one WD. PA is really choppy today
Thanks Kel, but I'm actually not happy with the exit... After it ran for 90 pips (top to bottom) during london for the past days, it decides to nail itself still at 70ish today, nearly hitting my TP...
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