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Trading Made Simple

  • #41,981
  • Oct 8, 2014 8:38pm Oct 8, 2014 8:38pm
I have a problem of closing positive trades early, and hanging on losing trades. When am I gonna learn?
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  • #41,982
  • Oct 8, 2014 9:49pm Oct 8, 2014 9:49pm
Quoting fxtrain
I have a problem of closing positive trades early, and hanging on losing trades. When am I gonna learn? {image}
You will learn but can you tell me what are you doing exactly to learn, and I might add something to the table
I Have Learned to Take Some Losses to Make Profits
  • #41,983
  • Edited 10:11pm Oct 8, 2014 10:01pm | Edited 10:11pm
Quoting emmanuel7788
{quote} farhad, your second trade is a good example TDI bounce trade. See your first trade, that was aggresive chasing after a very long candle, but when that candle broke above BRN 137.00, then market pulls back, consolidates with that Inside Bar and created that TDI hook over and then as more buyers jumo in and created that RSI momentum, increase price momentum casue the TDI Green to bounce off the Red TSL line. That is an inside bar setup for an established trend....these are high probability setups, low risk initial SL hence small R and good...
emmanuel;

All u mentioned was the reason of taking the second also the one! but when u want to go into the first u don't think that price will consolidate. why? because of the perv reasons. because they are such nice reason for taking the first
i think for the first one if the stop loss was a bit bigger, so the trade would be the same as second.
when trend is in a small range one, so we should see if price break or not. right? if go earlier in the first, the last candle's high would be the RES for new one.

thank u emmanuel
  • #41,984
  • Oct 8, 2014 10:12pm Oct 8, 2014 10:12pm
[quote=TheScorpS;7789647]{quote} You will learn but can you tell me what are you doing exactly to learn, and I might add something to the table[/quote

When I have a winning entry trades, pa would go zig zag, back and forth on the +-, i would chickened out thinking
it would reverse. As soon as I exit, it would go into my favor. And on losing trades, i would think price will come back
in my favor. I guess you call this" cutting your winners and holding on to your losers!"

I could learn from you guys! Thanks in advance.
  • #41,985
  • Oct 8, 2014 10:47pm Oct 8, 2014 10:47pm
[quote=fxtrain;7789664]
Quoting TheScorpS
{quote} You will learn but can you tell me what are you doing exactly to learn, and I might add something to the table[/quote When I have a winning entry trades, pa would go zig zag, back and forth on the +-, i would chickened out thinking it would reverse. As soon as I exit, it would go into my favor. And on losing trades, i would think price will come back in my favor. I guess you call this" cutting your winners and holding on to your losers!" I could learn from you guys! Thanks in advance.
All I can say is you need to practice your eyes to seeing your trade setup, TDI crosses, location, mbl location, so on so forth, how to do that is by backtesting, you need hundreds or hours of doing that, occasionally going through backtesting isnt not enough, at least its not enough for me, as I said many time before I do that every single day before market opens, and doing that at the moment of writing this post, by doing that you will know your setups, and you will keep taking them, you will not be ready for exit so far in good timings because that needs a lot more practice than entries, entries will will be the first you learn about them then you will face when PA is ranging or trending, and based on that you will start to ask your self if you are going to take more pips or taking just a little , TDI in that will help but you need to understand first how TDI works , what it does, etc

If you start to do backtesting on daily basis, you would come to conclusion, that it takes time before you master everything related to Trading in general, and that will keep you working hard to improve, and you will improve, just give it a shoot and see yourself
I Have Learned to Take Some Losses to Make Profits
  • #41,986
  • Edited 11:18pm Oct 8, 2014 10:53pm | Edited 11:18pm
Quoting farhad10
{quote} emmanuel; All u mentioned was the reason of taking the second also the one! but when u want to go into the first u don't think that price will consolidate. why? because of the perv reasons. because they are such nice reason for taking the first i think for the first one if the stop loss was a bit bigger, so the trade would be the same as second. when trend is in a small range one, so we should see if price break or not. right? if go earlier in the first, the last candle's high would be the RES for new one. thank u emmanuel
farhad,

at that time when you took that first trade, you do not know if the market will breakout UPwards.
Looking at the chart during the Tokyo session, I notice the previous D was very strong move down, so I was Sell bias but there was no sell setup during the first 5 hours of Tokyo session. I would normally mark the Tokyo 5H high low and wait for a setup to break this TOK5H High Low.
You first trade entry was a breakout of TOK5H high and I trade that candle but with SL below the TOK5H Low.
If I do not use the TOK5H method, and looking at that H1 candle which you enter, I would not be chasing after long candles as against my Entry rule. For long candles with a confirm TDI, I would be looking for a retracement entry. This is usually a Fib 38/50 type entry, one of my Entry rule. It is too risky to enter one candle before that breakout candle. Hindsight is 20:20 vision.

In the Craig Harris Stochastic 5-Method thread, eelfranz showed many trades how he trade using the Tokyo Channel. I only change that Tokyo channel to the first 5 hours of Tokyo session after trading that for a few years. The original Tokyo channel is the Asian session High-Low.
http://www.forexfactory.com/showthre...12#post3302012

regards,

Edit: add chart with comments
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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #41,987
  • Oct 8, 2014 11:09pm Oct 8, 2014 11:09pm
guys its my trade for the begining of the day

U/CAD Long
G/U SHort
E/U Short

anyone also in?
i know its counter trending but the TDI cross at very near 68 and 32 line
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  • #41,988
  • Oct 8, 2014 11:51pm Oct 8, 2014 11:51pm
Quoting TheScorpS
Quoting fxtrain
{quote} All I can say is you need to practice your eyes to seeing your trade setup, TDI crosses, location, mbl location, so on so forth, how to do that is by backtesting, you need hundreds or hours of doing that, occasionally going through backtesting isnt not enough, at least its not enough for me, as I said many time before I do that every single day before market opens, and doing that at the moment of writing this post, by doing that you will know your setups, and you will keep taking them, you will not be ready for exit
...
Good advice!
It's so funny. Trading is a 50-50 game. Either up or down, yet many people loses(at least me) There's an obstacle at the middle that many people trip over. Once we know what that obstacle is, only then we can get over it..

I will do what you said and hope for the best.

Fxtrain
  • #41,989
  • Oct 9, 2014 12:02am Oct 9, 2014 12:02am
Just took that second EA trade off the table at 30 pips as the pair seems to me to be just on the cusp of turning. That's 80 I'm up on this pair. Looking to ride back up if it does change direction as I did the silly monkey again and put two lots long earlier in the day.

Careful though, don't take it because I think it will reverse soon. Do your own analysis. Only one monkey around here and it's moi
"You know what needs to be addressed , completely completely reverse that".
  • #41,990
  • Oct 9, 2014 12:07am Oct 9, 2014 12:07am
EURJPY H1 trading 9 Oct London Session:

What is your trade plan now after seeing that the market has broken the TOK_5H low?

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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #41,991
  • Oct 9, 2014 12:10am Oct 9, 2014 12:10am
Quoting emmanuel7788
EURJPY H1 trading 9 Oct London Session: What is your trade plan now after seeing that the market has broken the TOK_5H low? {image}
wait for pullback and sell the continuation?
or ill just wait for 2 hours for my new 4hour bar to show up for an entry
Daniel
  • #41,992
  • Oct 9, 2014 12:26am Oct 9, 2014 12:26am
ah no my 3 trade

U/CAD Long
G/U SHort
E/U Short

1 got SL hit -30$ E/U
G/U +6$
U/CAD -15$

could anyone tell me whats wrong with my trade?those are my live account i already busted 300$ from my account because when i trade demo i always win but on the live account everytime i trade i always lose damn it...each pair i pick always turn out to be the loser.Any opinion guys?im new to forex and always learning since december 2013
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  • #41,993
  • Oct 9, 2014 12:42am Oct 9, 2014 12:42am
Quoting TheScorpS
{quote} You will learn but can you tell me what are you doing exactly to learn, and I might add something to the table
been on de sideline. want to know de setting of de 10ema, is it set to de close or what? thx.
  • #41,994
  • Oct 9, 2014 1:03am Oct 9, 2014 1:03am
Quoting dialpips
{quote} been on de sideline. want to know de setting of de 10ema, is it set to de close or what? thx.
EMA 10 set to close
I Have Learned to Take Some Losses to Make Profits
  • #41,995
  • Oct 9, 2014 1:32am Oct 9, 2014 1:32am
Quoting Greenb
{quote} wait for pullback and sell the continuation? or ill just wait for 2 hours for my new 4hour bar to show up for an entry
Hi Greenb,

Long time no see. How are you?

I waited for that LO candle to close to see if I get a H1 setup.

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Regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #41,996
  • Oct 9, 2014 1:47am Oct 9, 2014 1:47am
Hi Emmanuel,

Nice entry..I am in the exact trade..

I see some potential support just above.. Curious to know what your target is or how you will manage this one?

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Quoting emmanuel7788
{quote} Hi Greenb, Long time no see. How are you? I waited for that LO candle to close to see if I get a H1 setup. {image} Regards,
  • #41,997
  • Oct 9, 2014 1:47am Oct 9, 2014 1:47am
Quoting emmanuel7788
{quote} Hi Greenb, Long time no see. How are you? I waited for that LO candle to close to see if I get a H1 setup. {image} Regards,
On my platform the tdi cross happened above the mbl and I took the trade when price moves above 200ema
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the cautious seldom err....C
  • #41,998
  • Oct 9, 2014 1:57am Oct 9, 2014 1:57am
Quoting bigpips
Hi Emmanuel, Nice entry..I am in the exact trade.. I see some potential support just above.. Curious to know what your target is or how you will manage this one? {image} {quote}
Hi bigpips,

Yes, historical resistance 138.11 above and also BRN 138.00 and Prev W Fib 50%. Also we have UK data release today, that will have some impact with volatility of GBPJPY and liquidity can impact EURJPY movements. If price breaks across 138.00 it will be a large full body candle.
My trade manager will scale out at +20pips, then BE trade and with jumping stop at 30pips. Target is +2R for this trade.

Good Trading!
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #41,999
  • Oct 9, 2014 2:00am Oct 9, 2014 2:00am
Quoting pips29
{quote} On my platform the tdi cross happened above the mbl and I took the trade when price moves above 200ema {image}

Hi pips29,

Different TDI parameters shows up different on our charts. That's the issue with some many different TDI versions here in this thread.
Let PA leading indicator so we let PA lead the way. Price and price action dictates how the TDI will look on the chart.

Good Trading.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #42,000
  • Oct 9, 2014 2:01am Oct 9, 2014 2:01am
Thanks!
Im thinking along the same lines!
Cheers

Quoting emmanuel7788
{quote} Hi bigpips, Yes, historical resistance 138.11 above and also BRN 138.00 and Prev W Fib 50%. Also we have UK data release today, that will have some impact with volatility of GBPJPY and liquidity can impact EURJPY movements. If price breaks across 138.00 it will be a large full body candle. My trade manager will scale out at +20pips, then BE trade and with jumping stop at 30pips. Target is +2R for this trade. Good Trading!
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