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Trading Made Simple

  • #39,961
  • Jul 19, 2014 7:29pm Jul 19, 2014 7:29pm
Quoting pivotpower
Britpip7 Thanks for the insight on slowing down the RSI and TSL. I have been trading on the H4 so will be trying that out. When you say to try: RSI for 4 hour at 4 is that the RSI_Period that come standard at 13 or the RSI_Price_Line which comes standard at 2? Also refering to the TSL: your suggestion is to try 9 on the 4 hour and is that the Trade_Signal_Line which comes standard at 7 or the Trade_Signal_Line2 which comes standard at 18. I'm new to this indicator and don't know how all the different inputs work, but you suggestion does make a lot...
RSI = RSI Price Line in the TDI

TDL = Trade Signal Line in the TDI

attached are my day chart settings
Attached Image
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  • #39,962
  • Jul 20, 2014 4:14am Jul 20, 2014 4:14am
Quoting Britpip7
{quote} RSI = RSI Price Line in the TDI TDL = Trade Signal Line in the TDI attached are my day chart settings {image}


Hey brit. Which pairs you doing a look out for in this week? E/U looks good for a bounce back along with AUD/USD as both them move the same way really on the daily charts.

You seen anything promising :-)
Skype ID - jagpal.kooner1
  • #39,963
  • Jul 20, 2014 4:51am Jul 20, 2014 4:51am
Quoting jagpalsingh
{quote} Hey brit. Which pairs you doing a look out for in this week? E/U looks good for a bounce back along with AUD/USD as both them move the same way really on the daily charts. You seen anything promising :-)

a better question would be....

hey Britpip7,
here's my analysis based on xyz..... what do you think?
.... laughing all the way to the bank
  • #39,964
  • Jul 20, 2014 6:26am Jul 20, 2014 6:26am
@itsallover & @britpip7

CAD/JPY Weekly

TDi crossed above the 50 line but showing a 5 clock angle along with the stoch falling from 80 showing 5 clock angle too! Both meeting the rules of this system. The rectangles showing every time the cross occurred on the indicators the candles ran for minimum of 3 candles. The trend is uptrend but has many prevailing trends before it continues showing an indication that there could be 2 possibilities of sell and then buy.

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AUD/USD & EURO/USD Daily

Again both these pairs work together and following the same indication at the moment. Both showing 2 clock angles on the Stoch and aud/usd showing 2 clock on tdi too. Flat tdi for euro/usd no candle change as of yet but its a good one to watch right in case both indicators shoot up with candle change.

AUD/USD following its uptrend and EURO/USD may form a prevailing trend if you look at the recent prevailing trend and the tdi. It crossed around the same place as where the tdi is at the moment
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Is my analysis right or atleast on the right lines
Skype ID - jagpal.kooner1
  • #39,965
  • Jul 20, 2014 6:48am Jul 20, 2014 6:48am
Quoting jagpalsingh
@itsallover & @britpip7 CAD/JPY Weekly TDi crossed above the 50 line but showing a 5 clock angle along with the stoch falling from 80 showing 5 clock angle too! Both meeting the rules of this system. The rectangles showing every time the cross occurred on the indicators the candles ran for minimum of 3 candles. The trend is uptrend but has many prevailing trends before it continues showing an indication that there could be 2 possibilities of sell and then buy. {image} AUD/USD & EURO/USD Daily Again both these pairs work together and following the...

......blown away....

What timeframe do you trade jagpalsingh before I give you my opinion?
.... laughing all the way to the bank
  • #39,966
  • Jul 20, 2014 7:01am Jul 20, 2014 7:01am
Quoting itsallover
{quote} ......blown away.... What timeframe do you trade jagpalsingh before I give you my opinion?


Was my analysis right or wrong?

i use to do H4 before but because I work 9-5 it was hard to keep checking and I use to miss the good trades and catch the shit ones. So I moved to the daily ones as they come out 10pm UK time. I will be trying the weekly chart this week as well to see how it goes
Skype ID - jagpal.kooner1
  • #39,967
  • Edited 7:26am Jul 20, 2014 7:05am | Edited 7:26am
Quoting jagpalsingh
@itsallover & @britpip7 CAD/JPY Weekly TDi crossed above the 50 line but showing a 5 clock angle along with the stoch falling from 80 showing 5 clock angle too! Both meeting the rules of this system. The rectangles showing every time the cross occurred on the indicators the candles ran for minimum of 3 candles. The trend is uptrend but has many prevailing trends before it continues showing an indication that there could be 2 possibilities of sell and then buy. {image} AUD/USD & EURO/USD Daily Again both these pairs work together and following the...

EU

ok. I'll assume you're trading the Daily chart.
The only thing I'd add on your chart is Support and Resistance levels.
EU appears to be sitting on strong support and coupled by the fact that TDI is close to the 32 level..it looks set for a long. Maybe an entry once PA has crossed your trendline and tested it?

EDit
Analysis for EU NOT AU sorry
.... laughing all the way to the bank
  • #39,968
  • Jul 20, 2014 7:11am Jul 20, 2014 7:11am
CADJPY
This one is a bit tricky. TDI is at the 50 level so it could bounce either direction..... PA is also not coming off Resistance.... I'd say its an iffy one....

You want to take the highest probability trades ...PA coming off Support/Resistance with the TDI at the extremes 32/68 level
.... laughing all the way to the bank
  • #39,969
  • Jul 20, 2014 7:18am Jul 20, 2014 7:18am
.... and try not to trade signals from a different timeframe. I've been caught out so many times taking a signal on H4 and applying it on M15.... you have to be quite skilled to pull this off.
.... laughing all the way to the bank
  • #39,970
  • Jul 20, 2014 7:25am Jul 20, 2014 7:25am
... sorry I've had to edit my post on EU and AU .
.... laughing all the way to the bank
  • #39,971
  • Jul 20, 2014 7:29am Jul 20, 2014 7:29am
@itsallover

Thanks for the reply mate, I dont take signals of the H4 and trade daily. I use to trade signals on the H4 while watching that chart but I moved away from it as I had to keep checking every 4 hours.


I look at the daily charts and only trade the daily chart. I have been watching the AU and EU like a hawks eye as I believe they are gold mine at the moment they are fitting all the rules and even the AU is following its original trend which is always a good thing. EU has a prevailing trend which is good to take as long as it works out. Both charts need to be confirmed by the next candle 10pm Sunday (my time UK)..

I have not ever traded on weekly hence why my analysis for the cad/jpy might be wrong as I am looking to take 1 weekly chart trade a week to see how it goes. I have read that daily and weekly are the most profitable..

I follow a simple rule of taking 30pips minimum and switching off =) alot easier less greedy. Reaching 50 is alot harder than bigE made it sound in this post lol but hey it probs worked for him but its out of my reach as never reached the 50 pips mark.

You said you was blown away is that because that was the worst analysis ever? lolll

I did think the S/R help but there is a indicator on this forum that draws them for you but it makes the charts so untidy as I like t clean. Besides the indicators I have right nw is there anything else I could have to support me making the right decision?
Skype ID - jagpal.kooner1
  • #39,972
  • Jul 20, 2014 7:43am Jul 20, 2014 7:43am
You should be able to get a bit more than 30 pips trading the Daily charts..... still ...some pips is better than none....

Your analysis was a good attempt..... we're all a work in progress to some degree.
I was blown away because I didn't expect you to respond with the analysis... my bad... I've had my head bit off a few times when trying to give advice to newer posters.... lol

As long as you are aware where the Support and Resistance levels are you'll be on the right side most of the time
.... laughing all the way to the bank
  • #39,973
  • Jul 20, 2014 8:06am Jul 20, 2014 8:06am
Quoting jagpalsingh
@itsallover Thanks for the reply mate, I dont take signals of the H4 and trade daily. I use to trade signals on the H4 while watching that chart but I moved away from it as I had to keep checking every 4 hours. I look at the daily charts and only trade the daily chart. I have been watching the AU and EU like a hawks eye as I believe they are gold mine at the moment they are fitting all the rules and even the AU is following its original trend which is always a good thing. EU has a prevailing trend which is good to take as long as it works out. Both...

now all you need is chart time.....
.... laughing all the way to the bank
  • #39,974
  • Jul 20, 2014 8:06am Jul 20, 2014 8:06am
Quoting itsallover
You should be able to get a bit more than 30 pips trading the Daily charts..... still ...some pips is better than none.... Your analysis was a good attempt..... we're all a work in progress to some degree. I was blown away because I didn't expect you to respond with the analysis... my bad... I've had my head bit off a few times when trying to give advice to newer posters.... lol As long as you are aware where the Support and Resistance levels are you'll be on the right side most of the time

EU Daily - broken the support line and wick broken through the major support line to! it could just bounce tonight at 10. I will take the trade if the previous high was broken and a strong body candle

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AU Daily - Sitting on support showing a doji candle (indicating a change) if all good it should bounce off for a good long

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CAD/JPY - heres the S/R and I am lost i dont know haha

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Yes mate any pip is good than no pip. Now i have told you about my analysis care to share yours? also I see you have ATR indicator could you explain about it whats it all about? What you mean all i need is chart timeee???
Skype ID - jagpal.kooner1
  • #39,975
  • Jul 20, 2014 8:18am Jul 20, 2014 8:18am
Quoting jagpalsingh
{quote} EU Daily - broken the support line and wick broken through the major support line to! it could just bounce tonight at 10. I will take the trade if the previous high was broken and a strong body candle {image} AU Daily - Sitting on support showing a doji candle (indicating a change) if all good it should bounce off for a good long {image} CAD/JPY - heres the S/R and I am lost i dont know haha {image} Yes mate any pip is good than no pip. Now i have told you about my analysis care to share yours? also I see you have ATR indicator could you...

... see if you like this indie for SR. Maybe use the 4Hr and Daily forced levels.

I've spent an obscene amount of time looking at my charts trying different things....only for the market to change its flow. I've had problems deciding which timeframe suits me..... I've only just now reached my eureka moment. Its taken me 3 years.

Thats what I mean by chart time
Attached File(s)
File Type: ex4 SupDem.ex4   13 KB | 405 downloads
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  • #39,976
  • Jul 20, 2014 8:30am Jul 20, 2014 8:30am
Quoting itsallover
{quote} ... see if you like this indie for SR. Maybe use the 4Hr and Daily forced levels. I've spent an obscene amount of time looking at my charts trying different things....only for the market to change its flow. I've had problems deciding which timeframe suits me..... I've only just now reached my eureka moment. Its taken me 3 years. Thats what I mean by chart time {file}
That indicator looks alot better doesnt overlap anything else thank you!

I will be sticking to 2 trades on Daily and 1 weekly trade a week. As i have to work full time =(

which chart time do you use?

Also could you explain to me about ATR
Skype ID - jagpal.kooner1
  • #39,977
  • Jul 20, 2014 8:30am Jul 20, 2014 8:30am
ATR is the average true range. Its the average pips that a pair is expected to meet during a given time period. So you'll have 87 pips atr for EJ during a 24 hour time period. Thats how far EJ is expected to travel in this period.
A few times a pair will exceed its ATR, but oftentimes PA will reverse once it meets its ATR.

You've asked about my analysis..... I don't normally trade with one. I try and read PA using SR as much as possible ..... but I haven't been disciplined enough to plan a trade with an analysis.
.... laughing all the way to the bank
  • #39,978
  • Jul 20, 2014 8:38am Jul 20, 2014 8:38am
Quoting itsallover
ATR is the average true range. Its the average pips that a pair is expected to meet during a given time period. So you'll have 87 pips atr for EJ during a 24 hour time period. Thats how far EJ is expected to travel in this period. A few times a pair will exceed its ATR, but oftentimes PA will reverse once it meets its ATR. You've asked about my analysis..... I don't normally trade with one. I try and read PA using SR as much as possible ..... but I haven't been disciplined enough to plan a trade with an analysis.

Do you use the ATR alot? seems abit confusing and looking at too many of these things could just make you talk yourself out of a trade.

Do you have any tips and tricks you could give me =) I think i have gathered and learnt the basics well now. Anything you would say i need to educate myself on more?
Skype ID - jagpal.kooner1
  • #39,979
  • Jul 20, 2014 8:41am Jul 20, 2014 8:41am
Quoting itsallover
ATR is the average true range. Its the average pips that a pair is expected to meet during a given time period. So you'll have 87 pips atr for EJ during a 24 hour time period. Thats how far EJ is expected to travel in this period. A few times a pair will exceed its ATR, but oftentimes PA will reverse once it meets its ATR. You've asked about my analysis..... I don't normally trade with one. I try and read PA using SR as much as possible ..... but I haven't been disciplined enough to plan a trade with an analysis.

The Daily ATR will be lower than the Weekly ATR. Some traders use the ATR to decide Take Profit levels. Have a look for an ATR indicator called LFL-ATR Projections in the attachment section ..... I can't seem to attach mine...
.... laughing all the way to the bank
  • #39,980
  • Jul 20, 2014 8:50am Jul 20, 2014 8:50am
Quoting itsallover
{quote} The Daily ATR will be lower than the Weekly ATR. Some traders use the ATR to decide Take Profit levels. Have a look for an ATR indicator called LFL-ATR Projections in the attachment section ..... I can't seem to attach mine...
oh ok it's mainly used for TP decisions.


Once a person has understood the basics of this system what else should I look for to help me?
Skype ID - jagpal.kooner1
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