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Trading Made Simple

  • #40,761
  • Sep 1, 2014 7:11pm Sep 1, 2014 7:11pm
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  • #40,762
  • Sep 1, 2014 7:15pm Sep 1, 2014 7:15pm
Quoting brath
{image}
I m not sure if you are aware of RBA cash rate announments today which can drive AU wild...
Appreciation is the key to wealth and happiness
  • #40,763
  • Sep 1, 2014 9:35pm Sep 1, 2014 9:35pm
Quoting froglicker
{quote} My, i should expand my plate for more lunch and dinner options 1H trade on the Aussie, H4 is nearing 68 on TDI, but my analysis tell me it's going down. I may be wrong, thou. {image}
Initially set TP to 40 pips, moved to 45 pips coz it felt right.
Didn't come back in time to TP due to workplace meeting, closed out at 32 pips.
Oh well. You win some you lose some.
Some profit is always better than none.
Cheers!
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P.S.: Honestly can't bear the swap on AUSD, considered closing at 8pips profit, just barely enough to cover my swaps and commish. Thankfully, i held on
  • #40,764
  • Sep 2, 2014 2:25am Sep 2, 2014 2:25am
Quoting likica
{quote} I m not sure if you are aware of RBA cash rate announments today which can drive AU wild...
Good morning likica,

Did you see my post 40727 on Page 2037?
Can you help me with this indi..
Thanks and take care..
  • #40,765
  • Sep 2, 2014 3:21am Sep 2, 2014 3:21am
Quoting forexday
{quote} Good morning likica, Did you see my post 40727 on Page 2037? Can you help me with this indi.. Thanks and take care..
not sure if this is what you want.. but a quick google search of adx indi gives me this.
mind you, I've not tried it out as I'm at work, but the recent download was of last month, so unless MT4 ninja'd an update, it should work.

Offtopic:
Any1 care to provide insight on the gold market lately?
Been looking for long opportunities since the end of July, but it seems to be stuck in a perpetual downtrend.
Anyway, been looking at gold from a TMS perspective, and I think the M15 seems to be a decent timeframe to capture 15-20pips at each TDI cross on the XAU.
Although, its a preliminary thought, will have to expand on that.
  • #40,766
  • Sep 2, 2014 3:30am Sep 2, 2014 3:30am
Quoting froglicker
{quote} not sure if this is what you want.. but a quick google search of adx indi gives me this. mind you, I've not tried it out as I'm at work, but the recent download was of last month, so unless MT4 ninja'd an update, it should work. Offtopic: Any1 care to provide insight on the gold market lately? Been looking for long opportunities since the end of July, but it seems to be stuck in a perpetual downtrend. Anyway, been looking at gold from a TMS perspective, and I think the M15 seems to be a decent timeframe to capture 15-20pips at each TDI cross...
I do trade Gold regularly.
Fundamentally (USD strengthening) and other factors will not support Gold heading North. What with NFP this week end, Long Gold could be devastating ...
Technically as well, as you observe higher TF's and EMA 10, none give any iota confidence to go Long ... Next nearest support is around 1445 / 1450 levels.
Since morning, 5 Short trades on 30M, 1H and 4H .. all ended in Green pips ..
Better to keep shorting with every pull back ...
My two cents ...
Aditya
  • #40,767
  • Sep 2, 2014 4:30am Sep 2, 2014 4:30am
Quoting adikashyap
{quote} I do trade Gold regularly. Fundamentally (USD strengthening) and other factors will not support Gold heading North. What with NFP this week end, Long Gold could be devastating ... Technically as well, as you observe higher TF's and EMA 10, none give any iota confidence to go Long ... Next nearest support is around 1445 / 1450 levels. Since morning, 5 Short trades on 30M, 1H and 4H .. all ended in Green pips .. Better to keep shorting with every pull back ... My two cents ... Aditya
I see.
I'll brush up on my gold trading skills then.
Do you use any resources to help with trading gold?
The 1445 support level seems far away for me, but I'm not a real pro here.
Had good times and bad times, always looking to improve thou.
By the way, the entries on M30, H1 and H4, were they off the TDI or just by your own methods?
I'd really love to learn more.
If its not TMS related, do PM me.

Cheers!
  • #40,768
  • Sep 2, 2014 4:31am Sep 2, 2014 4:31am
Quoting froglicker
{quote} Should be fixed. Had some problems with uploading it. {quote} divergence? I'm not really that good at this. How do i determine div? Does this count? {image}
Some regular divergence examples... It's called a divergence, because there's one between what price is showing when it comes to structure highs and lows and what your oscillator is showing: price moving up, oscillator moving down or the other way around.

A bearish divergence is: higher high (or double top) on chart, lower high on oscillator.
A bullish divergence is: lower high (or double bottom) on chart, higher low on oscillator.

Divergence is good to confirm reversal points. The way I use it, I look for double bottoms or double tops at key levels and I wait for the setup to play out on the hourly chart.

Hope this helps
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  • #40,769
  • Sep 2, 2014 4:34am Sep 2, 2014 4:34am
Quoting Fx94
{quote} Hey traders, Here are 3 trades I made on E/J. Firstly you see a D1 chart with the support area (black circle). You can see that I went long and unfortunately I exited a long trade on daily timeframe that I wanted to let go until the 137.847 historical swing point. I think it´s a good trade because we see a range (two black lines). In addition the TDI is going to cross the red and the yellow line. Also the 50 mark is going to be achieved. So perhaps this trade will work. I will renter my exited trade ( -8 pips) The second chart shows a H1...
Hey traders,
Here are now 2 new charts of my E/J trades. You can see, that my trade went it the direction, I wanted it to have. I made +51 pips and I closed it because I became nervous. Should stay in it until my TP would be reached at about 137,847. Pffff.....to nervous

The second chart (black background) shows you exactly the same trade with the TDI template.
This trade made my first milestone: I reached a profit of 1% of my total trading account by about 5 days

Now I have no trades going on. I will wait until E/J will reach the monthly historical swing point at 137,847. Then I have two plans:
Plan A: Perhaps the price returns to the range and I can short the E/J
Plan B: Perhaps the SHS formation will push the E/J in a new bigger uptrend (take a look at D1 !). So perhaps it´s possible there to go long

Green pips to you !

Best regards,

Fx94
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  • #40,770
  • Sep 2, 2014 4:51am Sep 2, 2014 4:51am
Quoting Fx94
{quote} Hey traders, Here are now 2 new charts of my E/J trades. You can see, that my trade went it the direction, I wanted it to have. I made +51 pips and I closed it because I became nervous. Should stay in it until my TP would be reached at about 137,847. Pffff.....to nervous The second chart (black background) shows you exactly the same trade with the TDI template. This trade made my first milestone: I reached a profit of 1% of my total trading account by about 5 days Now I have no trades going on. I will wait until E/J will reach the...
Well done , can you tell me did you go actually long on the H1 bar , as shown , or did you use the H4 bar ? and do you usually leave trade open overnight ?
  • #40,771
  • Sep 2, 2014 5:06am Sep 2, 2014 5:06am
Quoting froglicker
{quote} not sure if this is what you want.. but a quick google search of adx indi gives me this. mind you, I've not tried it out as I'm at work, but the recent download was of last month, so unless MT4 ninja'd an update, it should work. Offtopic: Any1 care to provide insight on the gold market lately? Been looking for long opportunities since the end of July, but it seems to be stuck in a perpetual downtrend. Anyway, been looking at gold from a TMS perspective, and I think the M15 seems to be a decent timeframe to capture 15-20pips at each TDI cross...
hi froglicker,
Yes, i did a search and found a few but unfortunately they don't seem to work on the new mt4.

thanks.
  • #40,772
  • Sep 2, 2014 5:10am Sep 2, 2014 5:10am
Quoting likica
{quote} I m not sure if you are aware of RBA cash rate announments today which can drive AU wild...
yup i knew of it and as you see the price continue in my direction for 50 pips yeahhhhhhh
  • #40,773
  • Sep 2, 2014 6:14am Sep 2, 2014 6:14am
Quoting forexday
{quote} hi froglicker, Yes, i did a search and found a few but unfortunately they don't seem to work on the new mt4. thanks.
Sorry, forgot the link
here:
http://www.forexfactory.com/showthread.php?p=7663421
  • #40,774
  • Sep 2, 2014 6:27am Sep 2, 2014 6:27am
Quoting WDays
{quote} Some regular divergence examples... It's called a divergence, because there's one between what price is showing when it comes to structure highs and lows and what your oscillator is showing: price moving up, oscillator moving down or the other way around. A bearish divergence is: higher high (or double top) on chart, lower high on oscillator. A bullish divergence is: lower high (or double bottom) on chart, higher low on oscillator. Divergence is good to confirm reversal points. The way I use it, I look for double bottoms or double tops at...
thanks mate, definitely take more time to study div's.
So to use it effectively i also have to take key S/R areas into consideration, no?
  • #40,775
  • Sep 2, 2014 6:28am Sep 2, 2014 6:28am
Quoting forexday
Hi likica, Hope you had a good week end. I've noticed that you like playing around with indis, so i think you might be able to help.. I'm trying to find a 3 line ADX indi for the new mt4, do you perhaps have one. I cant get one to work with the new mt4... Thanks {image}
You should have ADX under Trend indies folder ( standard indies provide with MT4). I don't use it here under TMS (only useful for NT and for 4 Range chart)
Appreciation is the key to wealth and happiness
  • #40,776
  • Sep 2, 2014 6:32am Sep 2, 2014 6:32am
Quoting froglicker
{quote} thanks mate, definitely take more time to study div's. So to use it effectively i also have to take key S/R areas into consideration, no?
Always... S/R is the bread and butter of trading. Have you noticed how some patterns work out into 100 pip trades, while others barely go anywhere and reverse only to take out your stop? How some TDI crosses can yield huge pippage, while others don't even go 1 pip into profit... Yeah, that's what Big E. meant when he said to never forget the basics.
  • #40,777
  • Sep 2, 2014 6:44am Sep 2, 2014 6:44am
Quoting froglicker
{quote} thanks mate, definitely take more time to study div's. So to use it effectively i also have to take key S/R areas into consideration, no?
divergences of current TF don't work if HTF tms still swimming under water (<32) or day dreaming (>68), u know what I mean, I hope.
Appreciation is the key to wealth and happiness
  • #40,778
  • Sep 2, 2014 6:55am Sep 2, 2014 6:55am
Quoting froglicker
{quote} I see. I'll brush up on my gold trading skills then. Do you use any resources to help with trading gold? The 1445 support level seems far away for me, but I'm not a real pro here. Had good times and bad times, always looking to improve thou. By the way, the entries on M30, H1 and H4, were they off the TDI or just by your own methods? I'd really love to learn more. If its not TMS related, do PM me. Cheers!
I m taking signals on M30 for Gold and M15 for USoil in conjunction with HTF TDI and PA which I always pay high respect to.
Appreciation is the key to wealth and happiness
  • #40,779
  • Sep 2, 2014 7:03am Sep 2, 2014 7:03am
Quoting robuk
{quote} Well done , can you tell me did you go actually long on the H1 bar , as shown , or did you use the H4 bar ? and do you usually leave trade open overnight ?
In this case I went long because of the D1 chart. So I saw a potential to go long because of the TDI indicator, the support area and the SHS formation. You are right: Somethimes (like in this trade) I leave trades over night and let them go. In this cases I use a trailing stopp loss of 21 pips. For the next time I also want to put a JSL on my trades.

Best regards,

Fx94
  • #40,780
  • Sep 2, 2014 7:04am Sep 2, 2014 7:04am
Quoting froglicker
{quote} I see. I'll brush up on my gold trading skills then. Do you use any resources to help with trading gold? The 1445 support level seems far away for me, but I'm not a real pro here. Had good times and bad times, always looking to improve thou. By the way, the entries on M30, H1 and H4, were they off the TDI or just by your own methods? I'd really love to learn more. If its not TMS related, do PM me. Cheers!
I do get Info from Reuters ... and my Bro who works for Barclays ... But that is for fundamental knowledge ...
But, entries are strictly on TMS ... Courtesy Big E ... can not thank him less or more ...
TheScorpS ... Thanks a ton for the importance of EMA 10 ... I'm learning it on charts ... Owe you a Scotch buddy ... ..
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