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Trading Made Simple

  • #37,621
  • May 19, 2014 6:32am May 19, 2014 6:32am
Quoting wealthpro
{quote} hi pastecopy i am new to this system. can you tell me what is your TP,SL i [email protected] tp 1.6770 sl 1.6859
I can not say
stop loss or take profit level
You've got to find it
I habits scalping
I'm watching MiG bank graphic
I'm going position FXOpen ECN
0.8 spreed now

GBP/JPY H4
open 170,105 enter sell here
high 170,271
low 170,025

I closed a few pips profit.....
  • #37,622
  • May 19, 2014 6:42am May 19, 2014 6:42am
Quoting Gokay
{quote} I can not say stop loss or take profit level You've got to find it I habits scalping I'm watching MiG bank graphic I'm going position FXOpen ECN 0.8 spreed now GBP/JPY H4 open 170,105 enter sell here high 170,271 low 170,025 I closed a few pips profit.....

thank for your valuable advise
  • #37,623
  • May 19, 2014 7:36am May 19, 2014 7:36am
GBPUSD Week21 19May H4 trade:
Plan A trade - continuation trade, follow H4 and D TDI, counter W1.
Plan B - in case bearish reversal with D chart confirmation.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD week21 19May H4 trade.png Size: 32 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #37,624
  • May 19, 2014 7:38am May 19, 2014 7:38am
EURCAD and GBPCAD week21 H4 NYO 19May.

Both these pairs worth a look now in H4 chart timeframe.
I pick GBPCAD over EURCAD.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #37,625
  • May 19, 2014 7:45am May 19, 2014 7:45am
Quoting stevepatt
I have a Buy Stop on NZD/USD D1 {image}

I have this trade still running it's below water at the moment but support below.

I have a USD/CAD trade still running.

This USD/JPY Post 37,471 trade I have taken profit of 77 pips 1.68R
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 19th May 14 NZD:USD D1 Chart.png Size: 167 KB
Click to Enlarge Name: 19th May 14 USD:CAD D1 Chart.png Size: 156 KB
Click to Enlarge Name: 19th May 14 USD:JPY D1 Chart.png Size: 156 KB
  • #37,626
  • May 19, 2014 7:51am May 19, 2014 7:51am
Quoting stevepatt
{quote} I have this trade still running it's below water at the moment but support below. I have a USD/CAD trade still running. This USD/JPY Post 37,471 trade I have taken profit of 77 pips 1.68R {image} {image} {image}

USDJPY - very good trade CONGRATS!.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #37,627
  • May 19, 2014 8:13am May 19, 2014 8:13am
Here's how I'm looking at EUR/USD from W1 down to H4
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 19th May 14 EUR:USD W1 Chart.png Size: 159 KB
Click to Enlarge Name: 19th May 14 EUR:USD D1 Chart.png Size: 187 KB
Click to Enlarge Name: 19th May 14 EUR:USD H4 Chart.png Size: 147 KB
  • #37,628
  • May 19, 2014 10:48am May 19, 2014 10:48am
Quoting Direwolf
Hi, I'm back! Hope we're all doing well here. Best wishes from Thailand! It's been an interesting month. Especially meditation training, has to be one of the most difficult exercise I've been though in my whole life. And in my view it's very similar to trading psychology. I'll write something up if you're interested! {image}
welcome back and good to hear about your meditation, I sometime do mediate and interestingly its so much calming yet, its very difficult to train the mind to clear all the thoughts and just be itself away from everything , I mean the sensation is something very quite fully relaxing.
I Have Learned to Take Some Losses to Make Profits
  • #37,629
  • May 19, 2014 11:59am May 19, 2014 11:59am
Hello All,
I’m re-posting my post 36153 which didn’t get a response, perhaps because it’s useless or because it came less than 90 minutes before Realjumper’s epic post 36166. Whatever the reason, I’m still interested in the subject of the post. I’d be grateful if you’d read it, as another potential example of a “heartline waiting to happen” is occurring on GJ at the moment.
Post 36153
Several weeks ago, Phx62 referred to the Endeavor Trends Report which features Scott Barkley explaining H4 channels. Scott explains that he draws H4 channels by drawing a line between a High and a Lower High and “anchoring” a parallel line (thus forming a channel) at a previous swing high or low. Bizzzle has pointed out that this can be done easily using the Fibonacci Channel tool. The anchoring should be at a swing high or low that “proves” the heart line, the heart line being the 50% line of the channel and it is “proved” by other swing highs or lows lining up with it. Scott says that price has an 80% chance of reaching the heart line from the top of the channel (or bottom , if you’re forming a channel by connecting L and HL.)

I found the above very interesting and it further highlighted the mysteries of structure on Forex charts to me.

I notice that the heart line features swing highs or lows that have occurred before the starting point of the current channel and that they line up with other swing highs or lows that have occurred after the starting point of the current channel.

It has occurred to me that if you take a Fibonacci channel tool and connect a swing high to a point in space that “proves” a heart line, you may be predicting a swing point, or at least an area where, if price reaches it, you can watch with interest to see if favourable PA and TDI occur.
End of post 36153

Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpyh4.png Size: 46 KB


Please note that the top of the pink channel is a trend line stuck in space, but if price reaches it and gives a signal to go short, it “proves” the heartline. So, currently, the pink “heartline” is “a heartline waiting to happen.”
If we get a buy signal from where we are currently, the trend line stuck in space could be a target. I am well aware however, that price could reach that trendline by going sideways or even downwards.
Just some food for thought.
Kan
Thanks for your help, warmth and straight talking Heather.
  • #37,630
  • May 19, 2014 1:10pm May 19, 2014 1:10pm
Quoting pastecopy
Really hope this time I got it right from my weekly analysis. Though previous D1 is up but @ H1 signaled reversal: 1) Double top. 2) Rejection from Fri's high. 3) BEEB. 4) TDI rebounded below MBL. 5) Also a possible weekly down trend continuation after rebound from 38.2% (weekly Fib). Didn't take blue arrow entry due to previous H4 candle no momentum, so took yellow arrow instead. Yellow arrow entry point is based on TMS H4: 1) #2 HA entry. 2) TDI cross 3) Closed below 5ema. Feedback welcome, will you take the blue arrow entry point that's earlier...
Daily just bounced off the uptrend TL, this is the 2nd blue APB following a pullback bar, this was enough reason for me to stay off GU... Lately, I want D1 to be the same color as the direction I'm looking to trade, with a few exceptions...

That and the fact that mondays are slow 9/10 times

P.S: I really appreciate LW letting me know about that background color - much more soothing for the eyes...
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusddaily.png Size: 59 KB
  • #37,631
  • May 19, 2014 4:40pm May 19, 2014 4:40pm
Quoting wealthpro
{quote} thank for your valuable advise
if you use 5-10 pips TP what SL settings are you using? 2.5 pips?
  • #37,632
  • May 19, 2014 4:49pm May 19, 2014 4:49pm
Quoting WDays
{quote} P.S: I really appreciate LW letting me know about that background color - much more soothing for the eyes... {image}
Hi WDays! Can you tell more about background color? What is it?
  • #37,633
  • May 19, 2014 5:31pm May 19, 2014 5:31pm
Quoting toledoFX
{quote} Hi WDays! Can you tell more about background color? What is it?
I think he meant the background colour of his chart. Instead of having black (glaring to some) ,just tone it down a bit. I have mine on 42,42,42
the cautious seldom err....C
  • #37,634
  • May 19, 2014 7:09pm May 19, 2014 7:09pm
Quoting stevepatt
Here's how I'm looking at EUR/USD from W1 down to H4 {image} {image} {image}

Hi Steve,

Good analysis and consistent approach as I learn from your charts. There is resistance turned support at the region 1.3600 and the resistance region is around 1.3850.
Using the D chart, I see a buy potential when the TDI is extended and went outside the Volatility Band VB , now crossing back insdie the VB. Under such condition, I will use position building on D-chart. I think this trade will be the one for this month May. Will post my Big Picture Plan later once I get back home.

regards,

EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #37,635
  • May 19, 2014 8:44pm May 19, 2014 8:44pm
Quoting hostwey
{quote} EURUSD did pullback a little and spike up on Draghi but its finding those sellers again just below 1.40 Could be some fed up break out traders up there. "its going higher, its going higher....oh damn fooled again, doh!" {image}
Hello hostwey
what is the indicator 79% and arrows up?

thanks
  • #37,636
  • May 20, 2014 12:58am May 20, 2014 12:58am
EURAUD week21 19May H4 trade:
We saw how price made a bullish reversal at BRN 1.4600 and previous historical support, a bullish WRB and made a higher low.
A nice Double IB breakout with good price momentum with TDI confirmation.

Attached Image (click to enlarge)
Click to Enlarge Name: EURAUD week21 19May H4 trade.png Size: 33 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #37,637
  • May 20, 2014 2:14am May 20, 2014 2:14am
After a long week and struggling to get good trade and balancing between work and trading had to chose between GA daily and EA daily. I went with GA daily.
Attached Image (click to enlarge)
Click to Enlarge Name: GA Daily Buy 200514.png Size: 189 KB


Taken some profits using CM
Attached Image (click to enlarge)
Click to Enlarge Name: GA Daily Profit taken.png Size: 187 KB


Regards
  • #37,638
  • May 20, 2014 3:43am May 20, 2014 3:43am
Quoting emmanuel7788
EURCAD and GBPCAD week21 H4 NYO 19May. Both these pairs worth a look now in H4 chart timeframe. I pick GBPCAD over EURCAD.
I picked GBPCAD becasue my Big Picture Plan tells me that is a high probability trade over the EURCAD pair.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPCAD week21 19May H4 trade.png Size: 34 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #37,639
  • May 20, 2014 3:49am May 20, 2014 3:49am
GBPJPY..Trade taken on a pullback candle..news favour
Attached Image (click to enlarge)
Click to Enlarge Name: Image 138.png Size: 60 KB
Sad i'm not trying to understand PA
  • #37,640
  • May 20, 2014 3:59am May 20, 2014 3:59am
Here is an example how I use Position Building with Multiple Entries / Multiple Exits Money Management Strategy combined with proper Risk and Position Sizing.

This strategy works best in H4 and D charts when the TDI shows the Green moves oustide the Volatility Band and croses as it move back inside the VB while the TDI is in the Over-Bought or Over-Sold levels and when this occurs around a major historical price swing level.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPAUD week20 H4 Position Building trades.png Size: 52 KB


Note: This is now happening to EURUSD D chart so I see the opportunity to use this proven MM strategy.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
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