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Trading Made Simple

  • #37,521
  • May 15, 2014 2:54am May 15, 2014 2:54am
Quoting omonisha
{quote} Sorry stevepatt i do not know what is a Stop Orders Entry...You are right AJ didn't worked... What is Stop Order Entry?

Hi Omonisha,

There are three different ways to enter the market.

A Buy/Sell Market Order you buy or sell immediately at market price.

A Buy/Sell Stop Order is placed ahead of the market so your order gets filled as the market moves through your Order.
You are going with the market direction

A Buy/Sell Limit Order is setting an order ahead of the market where you think price is going to reverse.
You are going against the market direction.

I hope this explains it clearly.
  • #37,522
  • May 15, 2014 2:58am May 15, 2014 2:58am
Quoting Bizzzle
Long NJ!!
How did it turn out?
  • #37,523
  • May 15, 2014 3:09am May 15, 2014 3:09am
Quoting sfk2k
{quote} How did it turn out?
Still in this trade mate, SL below low
Give yourself a chance and trade it like it's layed out...
  • #37,524
  • Edited 3:43am May 15, 2014 3:11am | Edited 3:43am
Quoting akwunomy
I use to see some colleagues talk about market base line. The ultimate market base line when it comes to indicator is the almighty 200EMA. You can apply it to any TF and see how it refines trades. I use it often to collaborate most trades and they are so great. Is there anyone using it with TMS. How do you see it? So depending on how you analyze your USD/CHF chart...If price is able to penetrate the support at 0.8900-0.8950...we should be paying attention at the 200ema at 0.9000. Some consolidation on the downside before the resumption of the up...
Hi,
while reading this thread and a few others on FF there are a variety of moving averages people seem to use, i wrote a list of some of them and put all on a chart to observe price action in relation to the MA's, all exponential, shift 0, close:
ie:
5
21
34
50
89
200
233
300
The 50,89 and 200 seem to be the 3 i might use on a chart.
Often i see price bouncing off the 50Ema, and the 200 Ema.How would I use it...? As an example in the EurChf chart attached, when price was falling around the 1.2204 area, i would observe if price bounced off the 50Ema (Red) or passed through it, as it did, so it was possible for price to reach the 200Ema(Green) which it did...notice how price bounced off the 200ema area then followed the 50Ema as support.

On FF somewhere is the mention of crossover EMA's: 4 pairs mentioned were 7 & 30 ; 10 & 21 ; 18 & 28 ; and 50& 200
A quick glance at the 50 and 200 on a chart, 50 above 200 indicated bullish, 50 below 200 may indicate bearish price....


@Safrash, on Pips29 chart, the indicator is called Signal_Bars_Executive_v1.ex4
Attached Image (click to enlarge)
Click to Enlarge Name: eurchf-h1.png Size: 44 KB
  • #37,525
  • May 15, 2014 3:12am May 15, 2014 3:12am
Quoting safrash
{quote} what is indicator on your chart on up right corner, where I can download it?
I got it here in forexfactory many years ago. I actually use it to see price,spread,time and range only. I don't use it as an indicator as such, as a matter of fact I tried removing the top part above the price shown but couldn't do so due to my lack of computer knowledge. Anyway, it is named as signal bars(aad mods)
the cautious seldom err....C
  • #37,526
  • May 15, 2014 3:27am May 15, 2014 3:27am
Quoting Kanderpro
{quote} Hello lastingwell, Thanks for your response. Unfortunately, this does not work so I'll be switching back and forth to the higher time frame till I find a solution. Kan
You did delete the mq4 files you have in the folder?
  • #37,527
  • May 15, 2014 3:38am May 15, 2014 3:38am
Quoting stevepatt
{quote} I like your and fxFox.mb method of entry, after a pull back in the trend. Did you use Stop Orders to enter the trades? I know the AUD/JPY is not going to plan, they are not all going to work, if you have at least +1 Higher Time Frame (HTF) in your favour then that is your edge.
stevepatt,

I use both, market orders and entry orders (buy/sell stop) - depends on the situation.

After some consolidation at S/R's, high/lows or channels (like TOK_5H) a break often comes along with a quicker move. In that case I place an entry order to get in the trade at the earliest time, than I would get in when I manually pull the trigger.
fxFox (all times in my charts are GMT+1)
  • #37,528
  • Edited 3:51am May 15, 2014 3:38am | Edited 3:51am
Quoting Fx94
Here I want to show a failed trade on GBP / JPY. I entered because of the good TDI formation and because of a weekly historical resistance. Please take a look at the chart in the moment when I did the trade and at the chart some hours later. Itīs looks really different. Please feel free to comment Best regards, Fx94 {image} {image} {image}
When you took the trade, you didn't have a good cross at the beginning of the candle, because it had hardly crossed in your image even the one you took when the trade was taken, even though the candle had been climbing, not only that it was totally against h4. The cross doesn't look much different in either picture, its very slighly crossed in both.
  • #37,529
  • May 15, 2014 3:56am May 15, 2014 3:56am
Quoting stevepatt
{quote} Hi Omonisha, There are three different ways to enter the market. A Buy/Sell Market Order you buy or sell immediately at market price. A Buy/Sell Stop Order is placed ahead of the market so your order gets filled as the market moves through your Order. You are going with the market direction A Buy/Sell Limit Order is setting an order ahead of the market where you think price is going to reverse. You are going against the market direction. I hope this explains it clearly.
Quoting darranforex
{quote} Hi Ominisha, sorry I'm blabbing away here. He probably means a "Buy Stop" or Sell Stop" pending order, unless he has some broker that still supports FOK (Fill or Kill) which I haven't seen since my stock trading days of the late 1980's. By the way, I don't think the little tiny lick, stick and peel tattoos my student gave me (temporary tattoos) were actual tattoo stickers, because they just dissolved. I think I'll sign out for the rest of the day.
Thank you stevepatt darranforex...now i understand what is Buy/Sell stop order...
i am just a beginner...my market observation is very poor..so never tried pending order...
i am watching the chart i posted...trying to figure out why you asked if i used Stop Order to enter...what am i missing...what am i not seeing....

Thanks again for your support

Regards
Omonisha
Sad i'm not trying to understand PA
  • #37,530
  • May 15, 2014 4:15am May 15, 2014 4:15am
Quoting Fx94
Here I want to show a failed trade on GBP / JPY. I entered because of the good TDI formation and because of a weekly historical resistance. Please take a look at the chart in the moment when I did the trade and at the chart some hours later. Itīs looks really different. Please feel free to comment Best regards, Fx94 {image} {image} {image}
Looks like the charts scale changed to accommodate the recent price drop. Also looks like you bought just in time for a fake out which happens to me all the time. Hopefully you'll get a bounce on your new entry
  • #37,531
  • May 15, 2014 4:17am May 15, 2014 4:17am
what my broker sent about order types:

Pending Order: These orders allow clients to enter into a trade at a price that is outside the current market price, once the market price moves and reaches the clients requested price their order is filled. Clients can place buy or sell pending orders and they may be above or below the current market price. There are two types of pending orders (stop entry and limit entry orders) but since they can be placed as either a buy or sell there are four types of pending order you have to be familiar with:

Stop Entry orders: These orders are for an entry price that is worse than the current market price:

Buy Stop: This is an order to buy a currency pair above the current market price (Remember stop orders are orders that are worse than the current price, if you buy something at a higher price you will be worse off)

Sell Stop: This is an order to sell a currency pair below the current market price (if you sell something at a lower price you will be worse off)

Limit Entry orders: These orders are for an entry price that is better than the current market price:

Buy Limit: This is an order to buy a currency pair below the current market price (Remember limit orders are orders that are better than the current price, if you buy something at a lower price you will be better off).

Sell Limit: : This is an order to sell a currency pair above the current market price (if you sell something at a higher price you will be better off)
  • #37,532
  • May 15, 2014 4:29am May 15, 2014 4:29am
Quoting Fx94
Here I want to show a failed trade on GBP / JPY. I entered because of the good TDI formation and because of a weekly historical resistance. Please take a look at the chart in the moment when I did the trade and at the chart some hours later. Itīs looks really different. Please feel free to comment Best regards, Fx94 {image} {image} {image}

Hi Fx94,

There are 10 things which I normally do when I trade.
The 3 things you did not consider in your GI H1 trade are:
1) Multi TimeFrame Analysis MTFA

2) Volalitily - put the TDI Volatility Band the blue colour bands on your charts, what does the overall TDI show you?

3) Timing - when trading intraday on H1, always pay attention to the market session opening and closing. Your entry was Frankfurt close and also one hour to the London close. Do you see buyers at that hour of your trade or are they simply sellers exiting the market and price retraces due to the sellers exiting the market?

It is not so simple just trading the TDI cross on H1. We need to know and see more than just the TDI cross, when we want to become better traders and we need to know when it is a valid high probability trade setup and pull the trigger.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #37,533
  • May 15, 2014 4:32am May 15, 2014 4:32am
These don't happen very often but when they do I always grab them. Perfect setups from H4 down to m15, +65 pips, I set tp at the atr line as I had to go out.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurnzdmh4.png Size: 26 KB
Click to Enlarge Name: eurnzdmh1.png Size: 26 KB
Click to Enlarge Name: eurnzdmm15.png Size: 25 KB
  • #37,534
  • May 15, 2014 4:44am May 15, 2014 4:44am
Bug fixed in SS_Support Resistance v04c indicator. You will find corrected one here.
http://www.forexfactory.com/showthre...10#post7467910
  • #37,535
  • May 15, 2014 4:49am May 15, 2014 4:49am
Quoting darranforex
you never remember the thing that you forgot to do
Hehe, good one
I totally agree with the list (plan), it stops you from taking trades in an instant without thinking ("because it looked good")

Quoting omonisha
EURAUD..AUDJPY..Entered on first candle {image}
Similar here, but also H1 and EURAUD + CHFJPY
Quoting fxFox.mb
{quote} Similar trade on EURAUD but on H1 Entered on 2nd APB candle short (before FO) Exited with +46 pips 2 hours later after LO continued the downmove. {image}
Is there any particular reason you mainly trade H1? I started studying old charts with H4, then H1 and I find the latter much more "stable". I'm not sure if it's just an impression, but the moves on H1 look like what eelfranz described for H4 a few years back, when I re-read his posts. I might be waiting for too long with the entry on H4, though, a bit too hesitant to pull the trigger


- EURAUD - strong move, after consolidation, but maybe a continuation of a downtrend
Attached Image


- CHFJPY - breakout after consolidation in the direction of the trend, though I wonder how lucky I got with the "orange" news - all CHF pairs seemed to react the same way today
Attached Image


I also marked AUDCHF and CADCHF, but I didn't want to stretch on similar pairs... damn that Monday whipsaw
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot3.png Size: 18 KB
  • #37,536
  • May 15, 2014 5:01am May 15, 2014 5:01am
Quoting omonisha
{quote} {quote} Thank you stevepatt darranforex...now i understand what is Buy/Sell stop order... i am just a beginner...my market observation is very poor..so never tried pending order... i am watching the chart i posted...trying to figure out why you asked if i used Stop Order to enter...what am i missing...what am i not seeing.... Thanks again for your support Regards Omonisha
The image below shows how I would have entered these trades.
Attached Image (click to enlarge)
Click to Enlarge Name: 15th May 14 EUR:AUD H4 Chart.png Size: 157 KB
  • #37,537
  • Edited 5:44am May 15, 2014 5:18am | Edited 5:44am
Quoting timginter
{quote}Hehe, good one I totally agree with the list (plan), it stops you from taking trades in an instant without thinking ("because it looked good") {quote}Similar here, but also H1 and EURAUD + CHFJPY {quote}Is there any particular reason you mainly trade H1? I started studying old charts with H4, then H1 and I find the latter much more "stable". I'm not sure if it's just an impression, but the moves on H1 look like what eelfranz described for H4 a few years back, when I re-read his posts. I might be waiting for...

Your observation about H4 charts, from a few years ago, being like H1 charts today shows how the market has changed.

When I've been looking back over old charts I've found the same thing, H4 charts where running a lot smoother and for longer than they do today on average.

The Average Daily Range (ADR) changes year on year and this is the reason we can never become complacent about our trading the markets keep evolving and we must do the same to keep up.

I've found you need to do far more work to find good setups today.

I might be waiting for too long with the entry on H4, though, a bit too hesitant to pull the triggerHi Timginter,

This is why I look to enter after a pull back on H4 or D1 rather than wait for the TDI to cross.
  • #37,538
  • May 15, 2014 5:45am May 15, 2014 5:45am
Quoting timginter
{quote}{quote}Is there any particular reason you mainly trade H1? ...
I like the way phx62 is trading and I studied a lot of his valuable posts. It's just a kind of gut feeling - I currently feel more familiar on H1 than with TMS on H4. That depends on the trade size, needed stop loss level, trade target, open trades in parallel, and so on ...

I can concentrate on less pairs than looking on H4, to get the same pips amount, because the higher the TF the less trading chances the TF offers.
fxFox (all times in my charts are GMT+1)
  • #37,539
  • May 15, 2014 7:26am May 15, 2014 7:26am
Quoting lastingwell
These don't happen very often but when they do I always grab them. Perfect setups from H4 down to m15, +65 pips, I set tp at the atr line as I had to go out. {image} {image} {image}
Hi Lastingwell,
Why/how do you have hourly on the 30 minute time (0430)
Thanks, Scott
  • #37,540
  • May 15, 2014 7:42am May 15, 2014 7:42am
Quoting lastingwell
{quote}You did delete the mq4 files you have in the folder?
Hello lastingwell,
Thanks for trying to sort this out for me. Yes, I did delete the mq4 files (all of them) I had in the data folder/mql/indicators, but I've still got an empty window when I try to put TDI-MTFv1.03 on my chart.

I had an option to retain pre-600 MT4 builds with my previous broker, which I did, so I didn't take much notice of the big discussions going on at the time of the release of the 600 builds. Now of course, with a new broker and a 600+ build, I need to know.

I also can't find a Synergy_APB(2)_ind_window indicator to download.

I shall trawl through the thread around the time of the 600 release to see if I can gain some knowledge.

I'd be grateful if anyone can point me in the right direction to resolve any of the above issues.
Thanks,
Kan
Thanks for your help, warmth and straight talking Heather.
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