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  • #41,781
  • Oct 4, 2014 6:38pm Oct 4, 2014 6:38pm
Quoting toppo qqq
{quote} Thanks heispark for the heads up. I did the search as you suggested and what I got is a pdf by caveman, the creator, covering all the parameters. Are you saying this is the setting Phx62 uses in his trades? T.
What I meant was:
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Simplicity is the ultimate sophistication - Leonardo da Vinci
  • #41,782
  • Oct 4, 2014 7:29pm Oct 4, 2014 7:29pm
Quoting emmanuel7788
{quote} Hi Dennis, At that time of our post, it was looking good for a H4 setup trade as the price ade a huge pullback seen on the D chart. Here my comments on the charts below: D chart: {image} H4 chart: {image} Regards,

Hi Emannuel,
Please can you share your inside bar indicator that marks the IBs with number2? And also the indicator that draws two short purple horizontal lines on consolidation candle.

I will apreciate it, thanks.
  • #41,783
  • Oct 4, 2014 7:35pm Oct 4, 2014 7:35pm
Quoting robuk
+30 pips today , a bit of a miracle for me . stopped trades before NFP time .I cant post charts today for some unfathomable reason . So , I am feeling a bit more confident now but know I have a lot more to learn NO,1 Big picture planning . I will be studying Emmanuel's posts for this , and many thanks to him for all the help and guidance he offers us. NO.2 , Backtesting -- If anyone can offer any advice on this I will be most gratefull as it seems that either I don't do it right or I am missing the point somewhere .as I don't seem to learn much...
Hi Rob,

On Big Picture Planning.
My Big Picture Planning is complicated for some people in this thread. Don't go there because ... you should keep it simple,
I read your posts and you trade mainly H1 and M15 chart timeframes so focus your time in backtesting in your trading timeframes.
I trade intraday on H1 charts quite differently as I look for price action with momentum breakout. There is an indicator name ISM ADR Marker posted in this thread by other members. I use that but adjusted the period to 100-days instead of the default parameter simply becasue I am a conservative trader.

I do mostly 4H swing trading and position trading using Monthly>Weekly > Day charts as my approach, therefore doing my own Big Picture Planning and to identify those historical price swing levels work well for me especially in setting realistic target objectives.
The method I use to draw those historical price swing is nothing original nor new. Is it is taught in babypips School of Pipsology and many traders use this same method and adapt it to their own trading system.

I'll find time later and share somethings on back testing. A big topic but I hope I can help you on this.

Regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #41,784
  • Oct 4, 2014 7:36pm Oct 4, 2014 7:36pm
Quoting heispark
{quote} What I meant was: {image}

Thank you heispark. You are great help.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #41,785
  • Oct 4, 2014 7:54pm Oct 4, 2014 7:54pm
Quoting pips29
{quote} I saw this following your top down analysis with this pair N/U. On monthly chart, I drew fibs levels, on weekly trendline ( candle broke TL decisively with a full candle below TL). On the daily I find a bearish engulfing candle and finally on H4 saw retest of fib, level 23.6 and not one candle can close above this level. To me all these time frames show N/U moving south. Care to share? {image} {image} {image} {image}

Yes, I am still sell bias for this month but the D range is very narrow now and approaching the psych level 0.7700.
Weekly is in RSI oversold and D also with small D range very noticeable and that TDI narrow Volatility Band VB. ... Market Type identification: narrow range sideways, but to the downside.
With two historical swing levels below current price, the room down is much smaller than in September month. H1 intrady day trading, I'll be careful with trading lower timeframe bullish corrections and trade with tight stops for the rest of this month.

Attached my charts in pdf.

Attached File(s)
File Type: pdf NZDUSD Review and Big Picture Planning.pdf   214 KB | 592 downloads


Good Trading and Trade Safe!
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #41,786
  • Oct 5, 2014 1:01am Oct 5, 2014 1:01am
Quoting Esosa
{quote} Hi Emannuel, Please can you share your inside bar indicator that marks the IBs with number2? And also the indicator that draws two short purple horizontal lines on consolidation candle. I will apreciate it, thanks.

Hi,

You should find them in the attachments.

Attached Image (click to enlarge)
Click to Enlarge Name: search master candle.png Size: 125 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #41,787
  • Oct 5, 2014 2:12am Oct 5, 2014 2:12am
Quoting heispark
{quote} What I meant was: {image}
Where is his setting for cave manager?
  • #41,788
  • Oct 5, 2014 4:25am Oct 5, 2014 4:25am
Quoting emmanuel7788
{quote} Hi Rob, On Big Picture Planning. My Big Picture Planning is complicated for some people in this thread. Don't go there because ... you should keep it simple, I read your posts and you trade mainly H1 and M15 chart timeframes so focus your time in backtesting in your trading timeframes. I trade intraday on H1 charts quite differently as I look for price action with momentum breakout. There is an indicator name ISM ADR Marker posted in this thread by other members. I use that but adjusted the period to 100-days instead of the default parameter...
Hi Emmanuel. Thanks so much for your reply and advices . I tried to trade H4 as per Big E, but find I seem to be doing better on H1 and trying to refine entries on M15.
I demo traded for a long time but started live 6 months ago and the last few weeks have been around B/E , so slow but ,getting steadier, progress .
I've been doing backtesting and now noticing more and more things as I do ,I think things are becoming clearer now , also discovered can look back historically on FF calendar ( seems strange that I've never seen anyone mention that before as I think it will be so important and a big help ).I would eventully like to learn about Big Picture Planning , but will take your advice and try to keep it simple for now. My old Mum always used to say to me '' You always try to run before you can walk''-- guess she was right .I will look forward to your further advice , when you have some time to spare .
  • #41,789
  • Oct 5, 2014 9:46am Oct 5, 2014 9:46am
can you guys tell me how to the the numbers on top of the session box. It's driving me nuts.
Thanks
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  • #41,790
  • Oct 5, 2014 9:49am Oct 5, 2014 9:49am
right click on chart, properties, common, uncheck show object descriptions
"You know what needs to be addressed , completely completely reverse that".
  • #41,791
  • Oct 5, 2014 12:51pm Oct 5, 2014 12:51pm
Quoting MrAussieFX
Last week I took 4 trades. I was more of in the looking at the market mode as my work overlap with the London session and eats first 2-3 hours of NY session, I missed some good trades too. I'm still trying to implement TMS to my daily trades as I get a new daily candle at 7 AM my local time. Trades {image} GBPJPY Sell Trade {image} {image} EURJPY Pending Sell Order {image} {image} AUDJPY Sell trade {image} {image} EURUSD Sell Trade {image} {image} Kindest Regards
Hi MrAussie, your chart look great. Please share the template if you dont mind
Or anyone know where i can get the template ?

Thanks.
  • #41,792
  • Oct 5, 2014 3:33pm Oct 5, 2014 3:33pm
[quote=manoj_3986;7778894]Tried PHX62 style H1 trading this week. I need to work out to not give back pips to market. Trade 1 = BE Trade 2=BE Trade 3 = -20 pips, TDI not crossed at the open of candle, Tdi crossed after some time of candle open which makes it more risky. Trade 4= +35 pips, Pull back candle confirmed by tdi cross at open of next candle with

Hi Manoj,

Good trades buddy and you are almost there in preserving your capital. I am also using the similar approach and trading one pair similar to phx62 approach. You spreadsheet were really helpful as I usually extract that information over and over again from phx62 pdf's and go through 354 pages almost every week I have a quick question, do you consider H4 TDI and trend before entering on H1? During back testing I have noticed each time H4 TDI is below MBL, good results at H1 sell and opposite with buy entries. Please let me know your thoughts. These are things I am currently using in my back testing and forward testing.

1. What is H4 Trend by 89 EMA?
2. If H4 TDI is above or below MBL and in synch with H1
3. Is TDI cross happened on H1 (only 1st and 2nd candle after cross. Only exception with bounce trade?
4. Is green crossing red above MBL (long) or below Below (Short) with good angle?
5. Any red News? If there is high impact news wait for next candle.
6. Is candle size is ok with no wicks?
7. If trade goes against before 21 pips in positive direction, close immediately after 20 pips or first solid different color candle. Whichever come first.

Good luck with your entries in new week.
hoperich
  • #41,793
  • Oct 5, 2014 7:33pm Oct 5, 2014 7:33pm
hi guys,

Could the pros please look at the attached chart and help me out what could have kept me out of this trade...I didn't take this trade but it looked really appealing.
1. Tdi Cross 2. Good sized candle 3. it was rejecting the support level.

it looked really good at the time but it all went wrong straight after the trigger candle closed.

Regards
Attached Image (click to enlarge)
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  • #41,794
  • Oct 5, 2014 8:18pm Oct 5, 2014 8:18pm
Quoting Kmw
right click on chart, properties, common, uncheck show object descriptions

thanks KMW
  • #41,795
  • Oct 5, 2014 8:44pm Oct 5, 2014 8:44pm
Quoting dennis4u15
hi guys, Could the pros please look at the attached chart and help me out what could have kept me out of this trade...I didn't take this trade but it looked really appealing. 1. Tdi Cross 2. Good sized candle 3. it was rejecting the support level. it looked really good at the time but it all went wrong straight after the trigger candle closed. Regards {image}
Hi Dennis,

We have bank holidays in Australia and China liquidity may be in question especially for this pair in the Asian session. Intraday trading for Euro cross pairs are best when the European sessions., more liquity for getting quick pips. Also it is Monday morning after last Friday' NFP, I will let the market settle down and wait till the European sessions open.
On your chart, the H1 setup appear valid when NY open on Sunday, usually not a good move unless there is continuation of the previous week and previous day move. Market is sideways for now. On D chart, there is support so I look for buy when price action shows me there is room for TP and it can break above last Friday' high. Buy Low this week but note that we have RBA rate annoucment this week.

Trade Safe.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #41,796
  • Oct 5, 2014 8:49pm Oct 5, 2014 8:49pm
Thanks Emmanuel,

Yeah should have stayed away from this trade...will wait for euro session....I got our with a 12 pips loss...

Regards
  • #41,797
  • Oct 5, 2014 10:33pm Oct 5, 2014 10:33pm
Quoting dennis4u15
hi guys, Could the pros please look at the attached chart and help me out what could have kept me out of this trade...I didn't take this trade but it looked really appealing. 1. Tdi Cross 2. Good sized candle 3. it was rejecting the support level. it looked really good at the time but it all went wrong straight after the trigger candle closed. Regards {image}
All I can say is TIMINGS , understanding timings with TMS is mandatory important, extremely important, look up the pink lines that I plot for the last week, and see at what time the pair started good trade, on my local timings its at 4 .a.m in the early morning and I think it would be at 2 GMT, actually am thinking about waking up at this time to search for trades on EUR/AUD , understanding the pair personality is important as well
Attached Image (click to enlarge)
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I Have Learned to Take Some Losses to Make Profits
  • #41,798
  • Edited 11:12pm Oct 5, 2014 11:01pm | Edited 11:12pm
hi Scorps

Thanks for the reply...yeah I have to understand the trading times for different pairs...it looks like that EUR/AUD moves quite a bit in asia session...would you be kind enough to share the 4hr candle on the
1 hour time frame...the one that is at the far corner.

Regards
  • #41,799
  • Edited Oct 6, 2014 12:06am Oct 5, 2014 11:53pm | Edited Oct 6, 2014 12:06am
Quoting hoperich
Quoting manoj_3986
Tried PHX62 style H1 trading this week. I need to work out to not give back pips to market. Trade 1 = BE Trade 2=BE Trade 3 = -20 pips, TDI not crossed at the open of candle, Tdi crossed after some time of candle open which makes it more risky. Trade 4= +35 pips, Pull back candle confirmed by tdi cross at open of next candle with Hi Manoj, Good trades buddy and you are almost there in preserving your capital. I am also using the similar approach and trading one pair similar to phx62 approach. You spreadsheet were really
...
Good to know that this excel sheet has helped you.

 

  1. As mentioned by PHX62, I also based my decision based on H1 chart only
  2. I have updated trading plan sheet by adding divergence and closing order when APB candle closed with different color. Attaching herewith for your reference.
  3. TDI cross at open of 1st or 2nd candle is very important. If tdi cross happened at open of 1st candle and we wait for candle to close then it would cost some pips. Entery is very important as well as Exit as mentioned by PHX62.
  4. I have started backtesting to trade almost all tdi cross without looking at angle during London session. I could do backtesting of APRIL,MAY, JUNE. Attaching the same for your reference. I found that if tdi is above MBL for Buy and below MBL for sell then probability of success increases. When Tdi cross happens above MBL with price action signal for Sell & When Tdi cross happens below MBL with price action signal for Buy then also probability for success increases. But when tdi cross for buy happen below MBL without any price action signal then probability for success decreases & same for vice versa.
  5. When trade is closed with opposite color ABP candle, Trade should be closed, Which can cost almost around 20 pips.
  6. For News, you will find PHX62's tought in excel sheet by searching news
  7. My first target to implement this trading plan in my trading, once this will be implemented with experience we can learn to avoid losing trades.

I hope this will help to make your trading plan.

Wishing you all the best !

Thanks
Manoj

Attached File(s)
File Type: xlsx TMS PHX 62 trading plan .xlsx   28 KB | 896 downloads
File Type: xlsx TMS PHX62 backtest analysis.xlsx   13 KB | 648 downloads
  • #41,800
  • Oct 6, 2014 12:52am Oct 6, 2014 12:52am
Quoting toppo qqq
{quote} Where is his setting for cave manager?
See Post 20,314 (http://www.forexfactory.com/showthre...96#post6735696)

"I only use a couple of the options on the CaveManager EA......I use it to set my initial 50 pip TP and 50 pip emergency SL when I enter a trade.....I usually also set the No Loss after Pips to 21 when I am not going to be able to monitor the trade once it gets to the 21 pips.....and occasionally I will use the Trail By Candle on the H1 to trail behind candle HL by 5 pips and that is set to activate after 16 pips."
Focus on the process and the profits will follow
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