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Trading Made Simple

  • #37,901
  • May 28, 2014 4:51pm May 28, 2014 4:51pm
GBPNZD Week22 D chart 29May:

The D candle will close soon and Tokyo open a new D candle in few minutes.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPNZD Week22 D1 29May.png Size: 52 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #37,902
  • May 28, 2014 4:52pm May 28, 2014 4:52pm
Quoting emmanuel7788
{quote} After cutting loss on that trade, I executed Plan B as recovery trade. A +26pips quick exit with trade manager. {image}
Why would you buy in the first place when EURUSD and euro in general is losing ground all all over the place? Rates will be cut, this is currently being priced in. Buying eurusd is suicide at the moment...
  • #37,903
  • May 28, 2014 5:03pm May 28, 2014 5:03pm
Quoting WDays
{quote} Why would you buy in the first place when EURUSD and euro in general is losing ground all all over the place? Rates will be cut, this is currently being priced in. Buying eurusd is suicide at the moment...

I did not know that. But I based that trade purely on H4 chart technicals I saw at that moment.
Therefore I always have a Plan A and a Plan B.
In some instances, I do have a Plan C to execute.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #37,904
  • May 28, 2014 5:18pm May 28, 2014 5:18pm
Quoting emmanuel7788
{quote} I did not know that. But I based that trade purely on H4 chart technicals I saw at that moment. Therefore I always have a Plan A and a Plan B. In some instances, I do have a Plan C to execute.
Check out the forex factory main page, they have a good section with economic news. Where did Big E talk about recovery trades in TMS? I'd like to learn how he handled that.
"... and money is the answer for everything." Ecclesiastes 10:19
  • #37,905
  • May 28, 2014 5:28pm May 28, 2014 5:28pm
Quoting azFin
{quote} Check out the forex factory main page, they have a good section with economic news. Where did Big E talk about recovery trades in TMS? I'd like to learn how he handled that.

thanks for the FF news.

I do recovery trade following the same TMS 5-Method trade setup rules for entry and exit.
I did not learn recovery trade from eelfranz but from another experienced trader in old CHS thread.
That works for me after some time of practice.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #37,906
  • May 28, 2014 6:35pm May 28, 2014 6:35pm
Quoting emmanuel7788
{quote}In this case of a breakout, I use Jumping Stop Loss which works better for breakout trades. In trending condition, I use Trailing behind the previous 2 APB candles. regards, EMMANUEL
What is a Jumping Stop Loss - never seen this term before? Also are you using CaveManager for the trailing stop?
  • #37,907
  • May 28, 2014 9:47pm May 28, 2014 9:47pm
Quoting gavman
{quote} What is a Jumping Stop Loss - never seen this term before? Also are you using CaveManager for the trailing stop?
The difference is with a jumping stop of for instance 30 pips, when the trade goes 30 pips in your favour it will move to BE and then doesn't move for another 30 pips, so when it is 60 pips in profit the stop loss will jump to +30 pips.
  • #37,908
  • May 28, 2014 10:07pm May 28, 2014 10:07pm
1st trade profit completed, second part still running and added one more trade to the current GA daily trade.
Attached Image (click to enlarge)
Click to Enlarge Name: ga daily more added.png Size: 206 KB


regards
  • #37,909
  • May 28, 2014 11:08pm May 28, 2014 11:08pm
Quoting azFin
Good luck to those who really keep it simple.
TSM is the main thing I looked at in my example. The other indicators I use for reinforcement of my confidence in the signal.
As is pointed out, this can be ambiguous and it does obfuscate the original tsm plan. My apologies. I did not wish to hijack or obfuscate the thread.
Being good at what you do is a result of having fun
  • #37,910
  • May 28, 2014 11:30pm May 28, 2014 11:30pm
Hello TMS folks,

Glad to catch up with member snarlyjack. He is one of the pioneer members who is very close to eelfranz in the early years when he started to share the 5-Method and CHS thread.

here is where snarlyjack is today:
http://www.forexfactory.com/showthre...22#post7498422

He shared some very interesting findings in that thread.

regards,

EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #37,911
  • May 28, 2014 11:33pm May 28, 2014 11:33pm
AUDUSD Week22 H4 quick scalp...+20pips.

Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD Week21 29May H4 scalp.png Size: 31 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #37,912
  • May 28, 2014 11:47pm May 28, 2014 11:47pm
Quoting gavman
{quote} What is a Jumping Stop Loss - never seen this term before? Also are you using CaveManager for the trailing stop?

Hi gavman,

There are different forex exit strategies. Just google "forex exit strategies" and you will find plenty of online resources.
Jumping Stop Loss is a term used in SteveHopwood' Multi Purpose Trade Manager MPTM found in the Commercial Content forum in FF.
I do not use THV CaveManager so I do not know how that EA was programmed and with what exit strategy.
Jumping Stop discussion can be found in other forums and I followed the discussions in the babypips fourm many years ago.

There is a different between Breakeven Stop and Jumping Stop.

Breakeven Stop is the number of pips the market move then we move our initial Stop Loss to breakeven level which is usually Entry Price + few pips to cover spread and our screen time.

Jumping Stop can be smaller than the Breakeven Stop.

In all my trades, I use position sizing, so my initial stop loss is my risk 'R' of my trade. With that R (in pips) , I calculate my trade position size.

I will move my trade(s) to BE when the market move +1R.

Only after my trade(s) are at BE level, then only I will activate my Jumping Stop Loss JSL.

Some traders activate their JSL immediately after opening a new position.
See chart example below using yeterday's GBPJPY trade as example.

Attached Image (click to enlarge)
Click to Enlarge Name: Jumping stop example explained.png Size: 51 KB


Hope I explain this clearly.

regards,

EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #37,913
  • May 29, 2014 12:06am May 29, 2014 12:06am
GBPAUD +19, AUDUSD +10.
Entered after massive H4 engulfing bar and set automatic 10 pips trailing stoploss. Probably too tight. Still happy to make some pips.
Attached Image


EURAUD hit TP +50 pips.
Had more luck with this one. Same engulfing bar entry except I entered on a H1 chart. Also 10 pips trailing stoploss.
Attached Image


2 trades still opened, GBPCHF and USDJPY both +10 pips
Everything you can imagine, is real - Pablo Picasso
  • #37,914
  • May 29, 2014 1:09am May 29, 2014 1:09am
USDJPY hit TP 20 pips. Simple TDI turning down, with the short term trend.
Average daily range is only 47 pips, so, I thought 20 was a reasonable target.

Attached Image


Only GBPCHF trade remains, currently at +6 pips.

edit - GBPCHF closed at BE +2 pips.
Everything you can imagine, is real - Pablo Picasso
  • #37,915
  • May 29, 2014 1:11am May 29, 2014 1:11am
Quoting Direwolf
{quote} Well in my case I spent 9 months away from this thread studying price action. So sometimes I can't help but notice them I guess, it's become second nature When I discovered this thread I was so new. I was so excited reading Phx62's trades and really, really wanted to be as good as him. But the amount of analysis he did really overwhelmed me... he considered so many things that I was totally lost and blown away. I tried to trade like Phx62, which I failed miserably. The word price action was mentioned many times in his pdf and that's...
Hi Direwolf,
Thanks so much for showing commitment to self improvement brings rewards and results... trading isnt easy.
FYI for those interested - the Jonathon Fox Price Action thread can be found at:
http://forums.babypips.com/free-fore...ce-action.html
  • #37,916
  • May 29, 2014 2:16am May 29, 2014 2:16am
Quoting emmanuel7788
{quote} Hi tryding90, Yes, that is a valid D chart TMS 5-Method setup. There is also a major support. Zoom out of your chart and you will see a support which was tested before that D Pin Bar occur. See my post above to explain the D chart setup and entry technique. regards, EMMANUEL Eidt: BTW, I replied your PM. Also I did a demo trade using your post but have not have time to post on Friday. Will do so later. It sunday morning and I am off to shoot some waves.

Emmanuel thank you very much. Sorry for the delay.
  • #37,917
  • May 29, 2014 2:32am May 29, 2014 2:32am
Quoting emmanuel7788
{quote} I did not know that. But I based that trade purely on H4 chart technicals I saw at that moment. Therefore I always have a Plan A and a Plan B. In some instances, I do have a Plan C to execute.
Even so, based on technicals, EURUSD was making lower highs/lower lows. Good thing you had a plan B, I guess.
  • #37,918
  • May 29, 2014 6:21am May 29, 2014 6:21am
CADCHF H1, -11 pips.
HA color changed, TDI crossed very steep angle.
Not enough momentum I guess. Price went back into the range.
Attached Image


EURAUD H1 rejection bar, +5 pips. Went 20 my way before pulling back.
Attached Image


Enough for the today before I go into negative. See you guys tomorrow
Everything you can imagine, is real - Pablo Picasso
  • #37,919
  • May 29, 2014 8:03am May 29, 2014 8:03am
Quoting MrAussieFX
1st trade profit completed, second part still running and added one more trade to the current GA daily trade. {image} regards
Nice trading MrAussie - Just took a look at your trade explorer, love it, I thought my leverage was high but its about a third of yours
  • #37,920
  • Edited 4:34pm May 29, 2014 4:14pm | Edited 4:34pm
EURAUD Week22 30May :
Attached Image (click to enlarge)
Click to Enlarge Name: ERUAUD Week22 30May D chart.png Size: 45 KB


This pair made a very strong down move.
So we form a D bias with that D candle, but look to the left where support and resistance is.
When Tokyo open today, do you want to by buyer or seller when trading intraday no matter what TMS setup condition shows.

Here is an example EURNZD how it traded today on H1 intraday.
Attached File(s)
File Type: pdf EURNZD H1 Intraday H1 Trading Example docx.pdf   256 KB | 897 downloads


Today is Friday and also the last trading day of this month. We shall be seeing all the MN candle close, then we update our Big Picture Plan and prepare for next month June trading.

Trade Well and make pips.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
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