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Trading Made Simple

  • #37,741
  • May 21, 2014 9:08pm May 21, 2014 9:08pm
Quoting olly93
{quote} Must have been the Chinese news. Will have to make a note to avoid trades around that news.
Smart Money uses the news factor in clever ways, we small retail traders have no chance when we only look for TDI cross.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #37,742
  • May 21, 2014 9:14pm May 21, 2014 9:14pm
Quoting bewayopa
{quote} I'll keep an eye on this.
If we are 4H swing trading this pair, we wait until a new trend is established then we hop on it. We simply do not try to pick the top and bottom of the price wave turning, we simplu do not know when the real turnaround is.

My favourite wave pic below. There is a trend in every timframe. I trade the Primary Trend and wait for entry during the retracement i.e. the Intermediate Trend.

Attached Image
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #37,743
  • May 21, 2014 9:33pm May 21, 2014 9:33pm
Quoting Axiom
{quote} Similarly on EA H4. Illustrates the value of heeding the MBL and S/R. Edit: Although, TDI at extreme at the moment and a retracement likely? {image}
Hi Axiom,

When most traders trade TMS in its pure form, they only look at the TDI Green cross Red. But we see more and more traders here are using the Yellow MBL as a filter and they posted their trades and it clearly shows using the MBL yield better trades. The MBL is after all just a moving average of the RSI data and simply indicate the longer term momentum compare to the short term momentum shown by the Red TSL line. Nothing magical about that yellow line.
What eelfranz mentioned in his post#261 is that we must also look at the candle size and the PA and Supp/Res. Many traders as I know still do not pay much attention to PA and Support and Resistance. Simply trading the TDI Green cross Red will kill many accounts over a long term.

regards,

EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #37,744
  • May 21, 2014 9:40pm May 21, 2014 9:40pm
Quoting pastecopy
{quote} Hi Emmanuel, Thank you for previous post reply. Regarding GJ trade, will you consider UJ? Because it has the same setups except PA as piercing-alike.

Hi pastecopy,

yes, I did look at UJ at that same time but GJ was more convincing with the test of Prev W Low as support and the frist bouce and then the second bounce was more pronounce with the UPthurst bar which is the 3rd bar of the 3-bar reversal.
UJ showed an Inside Bar on my chart and if I had to pick based on candlestick/bar pattern for a reversal, the GJ one is higher probability of the two, becuase we trade based on price momentum.

regards,

EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #37,745
  • May 21, 2014 9:56pm May 21, 2014 9:56pm
EURJPY Week21 H4 22May view:

It shows first sign of a turnaround but we must wait till we get a clear confirmation. D chart is indicative, and H4 early entry is promising but we have 3 consecutive weeks trading below the weekly pivot. Next week we should see if the clouds above are cleared and we get clear skies.
Does 60% target of 300 pips range sounds good?

Attached Image (click to enlarge)
Click to Enlarge Name: EURJPY Week21 H1 22May.png Size: 45 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #37,746
  • May 22, 2014 12:25am May 22, 2014 12:25am
Quoting emmanuel7788
GBPJPY Week21 21May H4 trade. A Price Action trade setup with a 3-bar reversal/PCRF at Prev W Low and BRN 170.00. with TDI confirmation. {image}
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPY Week21 21May H4 trade.png Size: 36 KB


Here is my trade update for this GJ pair.
Now trailing 2 H4 APB candles. I will consider to trail using H1 2 APB cnadles to tighten my trailing stop and protect more floating profits as market is approaching 60% of its average weekly range.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPY Week21 21May H4 trade update1.png Size: 31 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #37,747
  • May 22, 2014 12:32am May 22, 2014 12:32am
Quoting emmanuel7788
{quote} Smart Money uses the news factor in clever ways, we small retail traders have no chance when we only look for TDI cross.
And sometimes taking notice of the tdi cross on h4 and going in on the second candle would mean you're +70 pips as in the case of EA, I wasn't one of them but I bet there are a lot of traders that are.
  • #37,748
  • May 22, 2014 12:48am May 22, 2014 12:48am
I agree with both of you, Mark up and Emmanuel. I understand Mark up's suggestion as the acronyms can be quite frustrating (as they still are sometimes for me), especially when they are sometimes misspelled. I also understand and appreciate Emmanuel's thinking in that the contributors are writing with great alacrity to explain themselves and use acronyms for brevity. Not being able to understand what someone is saying or writing is very frustrating, especially when you know it's something important and you are trying to pay attention to the best of your ability. When a sufficient amount of frustration builds up, there is a feeling of being ostracized, as though your friends are whispering about a party to which you are not invited. Many of the new terminology and acronyms evolved long after anything that was written by Eelfranz, and there is no reference as to where to begin looking (except of course for a time intensive contextual search) in a vast sea of over 37,000 posts. I can forgive Mark up for asking in a peculiar way. Maybe that's just his sense of humor and we misconstrue it and take offense. I actually thought it was kind of funny, but then again folks say I'm crazy, hence I never know what to think. I know sometimes people use "emoticons" to make sure their wryness isn't misconstrued. I know for the longest time here in Thailand I kept seeing "555" in text messages. What the hell? No, wait, isn't that 666??? The number five is pronounced "Hah" in Thai. Ha ha ha. FYI.
  • #37,749
  • May 22, 2014 12:50am May 22, 2014 12:50am
EA hit my target 30 pips
Left is H1, right is M15.
Attached Image (click to enlarge)
Click to Enlarge Name: 2014-05-22_1247_EA.png Size: 67 KB


GJ daily TMS is now +30, already lock in some profit.
Attached Image (click to enlarge)
Click to Enlarge Name: 2014-05-22_1249.png Size: 60 KB
Everything you can imagine, is real - Pablo Picasso
  • #37,750
  • May 22, 2014 1:01am May 22, 2014 1:01am
Quoting lastingwell
{quote}And sometimes taking notice of the tdi cross on h4 and going in on the second candle would mean you're +70 pips as in the case of EA, I wasn't one of them but I bet there are a lot of traders that are.
Puts hand up for 69 pips on EA but I got in on the change of colour candle 11pm AEST. News candle on GU was also good yesterday, TDI bounced and up she went for 79 pips although I got in a couple of candles before the news. H4 and keeping it simple is giving me far better results than ever.
Per Ardua Ad Astra - Through Adversity To The Stars
  • #37,751
  • May 22, 2014 1:07am May 22, 2014 1:07am
Quoting emmanuel7788
{quote} Smart Money uses the news factor in clever ways, we small retail traders have no chance when we only look for TDI cross.
Typical way is to use news to push price action into where all the unfilled buy/sell orders are (and those orders include stops).
  • #37,752
  • May 22, 2014 1:09am May 22, 2014 1:09am
Good job Direwolf! I like the way you use those green lines with arrow heads to clearly show your trades on the charts. Easy to visualize. No microscope needed.
  • #37,753
  • May 22, 2014 1:58am May 22, 2014 1:58am
Thanks Darran, it's cTrader's default deal map.
Everything you can imagine, is real - Pablo Picasso
  • #37,754
  • May 22, 2014 1:59am May 22, 2014 1:59am
hmm, this looks interesting.
  • #37,755
  • May 22, 2014 5:20am May 22, 2014 5:20am
Quoting emmanuel7788
{quote} {image} Here is my trade update for this GJ pair. Now trailing 2 H4 APB candles. I will consider to trail using H1 2 APB cnadles to tighten my trailing stop and protect more floating profits as market is approaching 60% of its average weekly range. {image}
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPY Week21 21May H4 trade update1.png Size: 31 KB

Here is my trade update:

GBPJPY trade closed.
The price pull back was strong and the TDI hook over is a TMS Exit rule.
Trailing using H1 2 APB look back as I mentioned in the above post help saved some pips from giving back to the market.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPY Week21 21May H4 trade closed.png Size: 34 KB



Trade Well Folks.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #37,756
  • May 22, 2014 5:25am May 22, 2014 5:25am
@Lukey, @Flipper.I understand we all have our frustration. Do try to look at the bright side - there are valuable information and insight that you can learn from this thread. The same way you don't trade every signals, you can certainly cherry pick the good posts out of this thread.

The analogy I learned last month is to think about Mangosteen. Great tasting fruit with thick, bitter skin. As a trader you don't want to just eat the whole thing, you need to peel its skin off and enjoy only the good part.

So yea, let's get back to trading
Everything you can imagine, is real - Pablo Picasso
  • #37,757
  • May 22, 2014 5:32am May 22, 2014 5:32am
Quoting lastingwell
{quote}And sometimes taking notice of the tdi cross on h4 and going in on the second candle would mean you're +70 pips as in the case of EA, I wasn't one of them but I bet there are a lot of traders that are.

lastingwell,

I fully agree with you that paying attention to the TDI cross is very important and the timing in which we get into the market is also important. The EA example I posted and posed a question whether that was a valid TMS setup was hours before the news. So an entry before the news event is often critical.
Entry after the APB#1 is what I learn from another experienced TMS trader which he call Dynamic Candle Entry, where entry after APB#1 closed.
This is seem better with the candlestick/bar pattern showing reversals and the TDI confirms the Price Action.

Here is my chart to show what I mean by Price Action and Dynamic Candle Entry.

Attached Image (click to enlarge)
Click to Enlarge Name: EURAUD Dynamic Candle Entry example.png Size: 46 KB


regards,

EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #37,758
  • May 22, 2014 5:47am May 22, 2014 5:47am
Anyone would take this H4 GBPCHF short trade?
Attached Image (click to enlarge)
Click to Enlarge Name: Picture2.png Size: 221 KB
  • #37,759
  • May 22, 2014 5:52am May 22, 2014 5:52am
Quoting pastecopy
Anyone would take this H4 GBPCHF short trade? {image}
Hi Pastecopy,

No I did not. I don't trade these EURCHF and GBPCHF pairs so these are not in my watchlist.

regards,

EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #37,760
  • May 22, 2014 5:52am May 22, 2014 5:52am
Quoting emmanuel7788
{quote} lastingwell, I fully agree with you that paying attention to the TDI cross is very important and the timing in which we get into the market is also important. The EA example I posted and posed a question whether that was a valid TMS setup was hours before the news. So an entry before the news event is often critical. Entry after the APB#1 is what I learn from another experienced TMS trader which he call Dynamic Candle Entry, where entry after APB#1 closed. This is seem better with the candlestick/bar pattern showing reversals and the TDI...
You must have mixed up which post I was referring to, although I did quote it in my post. I was answering the comment you made: we small retail traders have no chance when we only look for TDI cross - made a little while after the news - and my point was anyone who took notice of the cross of the tdi on h4 would have been in the trade well beforehand and in profit.

Also, not sure how the Dynamic Candle Entry differs from Eric's "enter on candle 1 or 2"?
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