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Trading Made Simple

  • #38,521
  • Jun 19, 2014 5:03am Jun 19, 2014 5:03am
Quoting pips29
{quote} I rather think this would be the 4th candle
Thanks for your reply -- and good luck !
  • #38,522
  • Jun 19, 2014 5:24am Jun 19, 2014 5:24am
Quoting robuk
{quote} Thanks for your reply -- and good luck !
Kiwi is still looking bullish. Monitor well. Green pips to you
the cautious seldom err....C
  • #38,523
  • Edited 5:59am Jun 19, 2014 5:32am | Edited 5:59am
Hi all,

Whats your approach to taking a trade where all everything looks good to enter but the average daily trading range has already been reached?
on say the 4 or 1 hr time frames.
  • #38,524
  • Jun 19, 2014 6:10am Jun 19, 2014 6:10am
Had cut loose my E/Y trade with minimum damage. Not liking price movement. Keeping 2 trades, G/U & G/Y (both long). Could be looking at a trade in 15 mins with E/Nzd
the cautious seldom err....C
  • #38,525
  • Jun 19, 2014 6:20am Jun 19, 2014 6:20am
Quoting connor95
Hi all, Whats your approach to taking a trade where all everything looks good to enter but the average daily trading range has already been reached? on say the 4 or 1 hr time frames.
Personally, I'd consider the trade a risky one and not take it.
.... laughing all the way to the bank
  • #38,526
  • Jun 19, 2014 6:29am Jun 19, 2014 6:29am
Quoting itsallover
{quote} Personally, I'd consider the trade a risky one and not take it.
thanks for the reply. yea sounds like the wise thing to do.
  • #38,527
  • Jun 19, 2014 6:35am Jun 19, 2014 6:35am
Quoting pips29
Had cut loose my E/Y trade with minimum damage. Not liking price movement. Keeping 2 trades, G/U & G/Y (both long). Could be looking at a trade in 15 mins with E/Nzd
I'm still in my E/NZ long trade , - 23 at the mo.
  • #38,528
  • Jun 19, 2014 6:40am Jun 19, 2014 6:40am
Quoting ElectroNitro
{quote} Thanks for your feedback. That said, the trade is not yet profitable and it is likely to reverse when the next 4-hr candle appears, about 30 minutes from now. Therefore, given the prevailing trade, uptrend, would it have been wise to take the trade in the opposite direction despite the clear short signal?
If you start second guessing the primary signal you will get paralysis by analysis. Then you will start adding indicators and before you know it, you are not trading simple anymore.

If the trade was a loser, then it was a loser. Close it and move on if you are a one in and one out trader.

If you scale in, wait until the next good signal and apply your money management.

It is important to understand that a good signal is not a guaranteed profit.
If you are good at something, never do it for free--Joker
  • #38,529
  • Jun 19, 2014 6:44am Jun 19, 2014 6:44am
Quoting robuk
Would BigE have considered the current candle as the second candle ? , as there is a doji between the last two candles and theprevious bull candle[attach]1451162 {image}
Big E would tell you that the HA candles need to be out front. They give an easier read.
If you are good at something, never do it for free--Joker
  • #38,530
  • Jun 19, 2014 6:53am Jun 19, 2014 6:53am
Quoting robuk
{quote} I'm still in my E/NZ long trade , - 23 at the mo.
no trade yet. waiting for signal on 15mtf. My £ trades looking good. G/u locked in with 60+ and G/y at b/e+
the cautious seldom err....C
  • #38,531
  • Edited 7:40am Jun 19, 2014 7:08am | Edited 7:40am
Quoting pips29
{quote} no trade yet. waiting for signal on 15mtf. My £ trades looking good. G/u locked in with 60+ and G/y at b/e+
I'm hoping your looking to long on E/NZ ,well done on the £ trades.
  • #38,532
  • Jun 19, 2014 7:40am Jun 19, 2014 7:40am
Broke resistence and RN by a few pips. Hopeful of another break and up to my TP (another 20 pips from here)
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpym15.png Size: 51 KB
the cautious seldom err....C
  • #38,533
  • Jun 19, 2014 7:49am Jun 19, 2014 7:49am
Quoting robuk
{quote} I'm hoping your looking to long on E/NZ ,well done on the £ trades.
This is the 15min chart
Attached Image (click to enlarge)
Click to Enlarge Name: eurnzdm15.png Size: 48 KB
the cautious seldom err....C
  • #38,534
  • Jun 19, 2014 8:16am Jun 19, 2014 8:16am
GPBCAD
Attached Image (click to enlarge)
Click to Enlarge Name: GPBCAD19-6-2014.png Size: 73 KB
Sad i'm not trying to understand PA
  • #38,535
  • Jun 19, 2014 9:27am Jun 19, 2014 9:27am
Quoting itsallover
{quote} Personally, I'd consider the trade a risky one and not take it.
Yes, I think this is good advice. I got burned by entering near the top of the ATR on good TDI crosses on the second candle. It reversed on me and I got stopped out with a vengeance on three trades and the others just languished around. So much for my 5 day win streak lol. Oh well keep swinging.
  • #38,536
  • Jun 19, 2014 9:47am Jun 19, 2014 9:47am
G/Y target hit. Only G/U left (stop moved to 80+)
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpym5.png Size: 48 KB
the cautious seldom err....C
  • #38,537
  • Jun 19, 2014 9:51am Jun 19, 2014 9:51am
Pips, you're on steroids!

I have nothing to show today. AUDUSD -10, EURAUD -15. Sad day.
Everything you can imagine, is real - Pablo Picasso
  • #38,538
  • Jun 19, 2014 10:25am Jun 19, 2014 10:25am
Quoting omonisha
GPBCAD {image}
http://i1248.photobucket.com/albums/...ps070f14f0.png

Hi omonisha,

I see you trade right at open price of the first HA candle. But, i think it's not confirmed because TDI not cross. How can you decide to entry like that?

I'm using EA to backtest realtime and above is GBPCAD chart that show your chart right at the open of first HA candle (note that TDI doesn't confirm). Can you explain what's the reason you take this trade?

Thank you for posting chart, omonisha. Your trades inspires me so much.

Regards,
khanhtrinhmd
  • #38,539
  • Jun 19, 2014 10:50am Jun 19, 2014 10:50am
Quoting pips29
G/Y target hit. Only G/U left (stop moved to 80+) {image}
Fantastic trading , well done ,
I'm still in that long E/NZ trade , was - 32 at one stage now - 12 at the mo (harmonics kept me hanging in )
It's a bit of a saga , death by a thousand cuts , I'm on 999 right now .
but also had one loser and one winner , flat on those two . It's hard work , only to lose money -- I still have a lot to learn .
  • #38,540
  • Jun 19, 2014 10:51am Jun 19, 2014 10:51am
Quoting Direwolf
Pips, you're on steroids! I have nothing to show today. AUDUSD -10, EURAUD -15. Sad day.
Just lucky, wolf. Anyway, took time off from the computer to look at some beautiful "fillies",some royal,some not so royal at the Royal Ascot. The gold cup was won by leading light and someone just won £100k on odds of evens before tightening at 10/11
the cautious seldom err....C
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