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Trading Made Simple

  • #40,481
  • Aug 21, 2014 9:47am Aug 21, 2014 9:47am
Quoting TheScorpS
Third 100 pipers in 3 consecutive weeks, TMS is paying off, anyway took this trade based on M15, an early entry , guess what a deeper draw-down, but GJ failed to make new structure low, so decide to take the plunged after news , closed manually for +117 pips I don't know how many hours stayed into this trade, but long enough to test discipline {image}
Great trade Scorps
  • #40,482
  • Aug 21, 2014 9:53am Aug 21, 2014 9:53am
Quoting TheScorpS
{quote} I will send you a PM later regarding EW and how to stay with the trend and sometimes even avoid fakeys Need to write a detailed one so give me time
If not too much trouble, will you copy me in with that as well.
Thanks TheScorpS...
  • #40,483
  • Aug 21, 2014 10:14am Aug 21, 2014 10:14am
Quoting forexday
{quote} If not too much trouble, will you copy me in with that as well. Thanks TheScorpS...
Yes I will PM you later, since my eyes are totally strained off computers , will take sometime off

Since Gold has been in a downtrend recently, thought to follow the trend , now the question is from where, what level etc, any I was watching the 100 pips spike early morning, and done some work on Gold and plotted where I wanted to be involved, but since I was busy with currency , I totally forgot about it, only to see the trade took off, but since the trend is yours, just search for the next train stop and jump in with the rest

Took +51 pips on the way down, how I done it? Simple and easy, waited the spike up to touch EMA 10 on H1 and shorted from there

Thanks for all your support likica and Forexday
Attached Image (click to enlarge)
Click to Enlarge Name: Gold.jpg Size: 340 KB
I Have Learned to Take Some Losses to Make Profits
  • #40,484
  • Aug 21, 2014 11:09am Aug 21, 2014 11:09am
Quoting robuk
{quote} Hey Scorps , very interesting and great trades -- I wonder if you could possibly send the same PM to me ? would be very much appreciated .
Hi

Will do so tomorrow, so until then, have a great one
I Have Learned to Take Some Losses to Make Profits
  • #40,485
  • Aug 21, 2014 11:59am Aug 21, 2014 11:59am
Thanks very much , I need all the help I can get .
Quoting TheScorpS
{quote} Hi Will do so tomorrow, so until then, have a great one
  • #40,486
  • Aug 21, 2014 12:31pm Aug 21, 2014 12:31pm
Quoting TheScorpS
{quote} Yes I will PM you later, since my eyes are totally strained off computers , will take sometime off Since Gold has been in a downtrend recently, thought to follow the trend , now the question is from where, what level etc, any I was watching the 100 pips spike early morning, and done some work on Gold and plotted where I wanted to be involved, but since I was busy with currency , I totally forgot about it, only to see the trade took off, but since the trend is yours, just search for the next train stop and jump in with the rest Took +51 pips...
You welcome Scorps..
Thank you for sharing your knowledge and charts..makes learning much easier.

Regarding the info, no hurry, when you have some free time..
Take care..
  • #40,487
  • Aug 21, 2014 3:58pm Aug 21, 2014 3:58pm
Quoting likica
{quote} Kmw, Why do you need 2 same tdi on your chart? 2nd tdi should be for higher TF?
it is the MTF, but it's on a monthly chart, there is no next time frame for it to use so I guess it defaults to TDI, set the chart back on weekly MTF and it displays correctly. As to why I have it on there, I think I saw Livingwell using both TDI and MTF on one of her posts and like her explanation.

I'll look again tonight, work calls
"You know what needs to be addressed , completely completely reverse that".
  • #40,488
  • Aug 21, 2014 5:04pm Aug 21, 2014 5:04pm
Hi TheScorpS,
recently Axitrader released a 60page pdf on trading setups, was reading it the past week and also added the 10ema.
some quotes on the 10EMA trend filter:
Quote
The art of the chart – some damn good technical set-ups
The 10-day exponential moving average (EMA) is my favourite indicator to determine the major trend. I call this ‘red light, green light’ because it is imperative in trading to remain on the correct side of moving average to give yourself the best probability of success. When you are trading above the 10-day, you have the green light, the market is in positive mode and you should be thinking buy. Conversely, trading below the average is a red light. The market is in a negative mode and you should be thinking sell.”
– Marty Schwartz
......
You simply apply a trend-following indicator to a chart and never trade against it, like Marty Schwartz with his 10-day EMA.
You would never trade against the 10-day EMA. In this case your entry would be on a lower timeframe.

I found the 10ema also sits in the middle of the 5ema Price Action Channel...
  • #40,489
  • Aug 21, 2014 6:14pm Aug 21, 2014 6:14pm
Quoting omonisha
{quote} File/Open data folder...mql4/indicator.......did you paste there?
Yep, thats the folder I pasted it in. I'll ring my broker and see if they can clear it up for me.

Thanks for the suggestion.
The consistency you seek is in your mind, not the markets. Mark Douglas
  • #40,490
  • Aug 21, 2014 6:37pm Aug 21, 2014 6:37pm
Quoting TheScorpS
{quote} I will send you a PM later regarding EW and how to stay with the trend and sometimes even avoid fakeys Need to write a detailed one so give me time
I too am interested, if you don't mind, that is.
Happy trading everyone!
  • #40,491
  • Aug 21, 2014 10:09pm Aug 21, 2014 10:09pm
Would like to thanks everyone that supports us, TMS and wish you all green pips, try , learn, make mistakes, learn from those, and you will make it

At times I thought that I would never make it, lost in the madness, but kept searching for my mistakes, back tested on daily basis, continuous reading , and slowly its paying off now

Anyway am testing something now, and I think it might add to the way I can make pips, or better avoid fakys too, if I find it helps am gonna share that else we will forget about it and continue our hard working to survive
I Have Learned to Take Some Losses to Make Profits
  • #40,492
  • Aug 21, 2014 10:17pm Aug 21, 2014 10:17pm
Quoting OuterWest
Hi TheScorpS, recently Axitrader released a 60page pdf on trading setups, was reading it the past week and also added the 10ema. some quotes on the 10EMA trend filter: {quote} I found the 10ema also sits in the middle of the 5ema Price Action Channel...
Thanks for the quote

I added EMA 10 a year ago, the way I added that was when I used to have EMA 5 as in TMS, I used to watch M5 to follow the trend of the trade, but kept seeing that PA would often break that EMA and goes in the trend mode again, so thought to my self why not try a bigger EMA and see what the results, the moment I added 10 EMA on the same chart , I was shocked by the results, not a single candle in the trade closed above EMA 10 signaling exit condition, left their the whole year and learnt a lot from it

Now will you TMS traders learn all the tips about this power EMA 10 in a short period of time, I am not sure, u can try it but at least give your self a year to cycle through all time frame to get the way EMA 10 works

Many times my emotion tells me to exit a trade, buy EMA 10 tells me not, I have to ignore those emotion and stay with EMA 10 and to my suprise at the end I make more pips most of the times
Attached Image (click to enlarge)
Click to Enlarge Name: EA_H1.jpg Size: 442 KB
I Have Learned to Take Some Losses to Make Profits
  • #40,493
  • Aug 22, 2014 2:55am Aug 22, 2014 2:55am
Quoting OzFXtrader82
{quote} Yep, thats the folder I pasted it in. I'll ring my broker and see if they can clear it up for me. Thanks for the suggestion.
Before you reinstalled MT4 did you completely remove the previous MT4 first? Secondly, after pasting into indicators you need to close MT4 and reopen. You've probably done those things but thats all I can think of for the moment. You could also download a demo account from a different broker and see if iMT4 works. Good luck.
  • #40,494
  • Aug 22, 2014 3:24am Aug 22, 2014 3:24am
Hi
I haven't traded for a while due to work commitments but had some time yesterday to look at some charts. I shorted EA at 3pm (UK time) and he are my reasons, please feel free to comment as i wish to learn from you traders.
1) Both 50MA and MBL were pointing down.
2)Stoch was pointing down
3)Retracement had failed to make a new high.
4) Green crossed the red then the yellow.
5)H1 confirmed.
Attached Image (click to enlarge)
Click to Enlarge Name: EURAUDSBH4.png Size: 43 KB
  • #40,495
  • Aug 22, 2014 3:26am Aug 22, 2014 3:26am
Quoting Next4467
Hi I haven't traded for a while due to work commitments but had some time yesterday to look at some charts. I shorted EA at 3pm (UK time) and he are my reasons, please feel free to comment as i wish to learn from you traders. 1) Both 50MA and MBL were pointing down. 2)Stoch was pointing down 3)Retracement had failed to make a new high. 4) Green crossed the red then the yellow. 5)H1 confirmed. {image}
I forgot to say, my SL and TP were both 25 pips, just to see if my analysis was correct.

Next4467
  • #40,496
  • Aug 22, 2014 4:32am Aug 22, 2014 4:32am
Pin Bar on 6th refusing to break the trend line....Nice area to form a Pin Bar....waited...Entered yesterday ....Added position as trade improve....last position added when the pin bottom taken out....Time to scale...
Attached Image (click to enlarge)
Click to Enlarge Name: EURNZD 8-22-2014.png Size: 43 KB
Sad i'm not trying to understand PA
  • #40,497
  • Aug 22, 2014 7:53am Aug 22, 2014 7:53am
Quoting omonisha
Pin Bar on 6th refusing to break the trend line....Nice area to form a Pin Bar....waited...Entered yesterday ....Added position as trade improve....last position added when the pin bottom taken out....Time to scale... {image}
Really good entries and management, can get enough of your chart, at least we can learn position adding to maximize profitably
I Have Learned to Take Some Losses to Make Profits
  • #40,498
  • Aug 22, 2014 8:25am Aug 22, 2014 8:25am
GJ long H1 + 50 first position hit and waiting second

The reasons for taking the trade, pullback candle on H4 that came to the pip below EMA 10, now on lower time frame ie M5 and M15, PA was above EMA 10 so I anticipated that next H1 will close above EMA 10 and H4 candle will continue up, and it did

Good Luck everyone and happy weekend a head
Attached Image (click to enlarge)
Click to Enlarge Name: GJ_H1.jpg Size: 437 KB
I Have Learned to Take Some Losses to Make Profits
  • #40,499
  • Aug 22, 2014 8:52am Aug 22, 2014 8:52am
Just a friendly reminder to do your homework before every trade session; pippage yield is so much higher when you come prepared. Trading (any system) is not just about triggers. A trade plan is needed. Identify your PPA zones, watch out for divergence signaling reversals, plan out trades early on. This is what my chart looks like at the end of the week, with some glances into the future (possible scenario for next week, no prediction just knowing my possibilities).
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYH4.png Size: 75 KB
  • #40,500
  • Aug 22, 2014 9:27am Aug 22, 2014 9:27am
My second trade was taken today on EURUSD 11am candle.
Reasons for the trade.
1) 50MA and MBL both pointing down
2) Green crossed yellow then red
3) All 3 GN Rd Y bellow 50 Line
4) Stoch dropping from overbought.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDSBH4.png Size: 43 KB


Again S/L 25 and T/P 25 pips
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