Sad i'm not trying to understand PA
- #42,703
- Oct 23, 2014 9:12pm Oct 23, 2014 9:12pm
- Joined Dec 2013 | Status: Trader | 1,680 Posts
Sad i'm not trying to understand PA
- #42,704
- Oct 23, 2014 10:55pm Oct 23, 2014 10:55pm
EURAUD. Double pin {image}
On the short time frame chart that is the pullback into demand I mentioned a few posts backs. Wait for 'fresh' demand and then the pullback.
- #42,705
- Oct 23, 2014 11:27pm Oct 23, 2014 11:27pm
- Joined Nov 2012 | Status: Trader | 2,339 Posts
{quote} Good trade TSS. You held on to your belief in the 10EMA used in all timeframes and exited your trade when price reacted at the H1 200EMA equivalent to 10EMA on Day. Despite missing the beakout trend, you traded according to your beliefs and trade plan. That is discipline to follow your own system. Very important! regards,
I Have Learned to Take Some Losses to Make Profits
- #42,708
- Oct 24, 2014 2:37am Oct 24, 2014 2:37am
- Joined Oct 2012 | Status: Trader | 1,813 Posts
Hi guys, can anyone redirect me to the page where the newest indicators are available ? and where is the for rules for entry exit and method explained ? thanks
Rules for entry and exit are all up to you... You are supposed to make your own conditions for different scenarios. In general, though, long when APB goes blue and the TDI lines go green over red and the opposite for short trades. Needless to say, that is highly insufficient for a good winrate, you need good (personal*) rules to filter out bad setups, when not to trade, what to expect from the market and so on.
Reading a quick summation of basic triggers simply won't do
You have to put in work! Good luck to you, we're open to further questions
*I say personal, because they're different for every one of us - some would filter trades with MA's, others using the MTF TDI and so on..
- #42,709
- Oct 24, 2014 5:17am Oct 24, 2014 5:17am
- Joined Nov 2008 | Status: Trader | 50,234 Posts
EURAUD H4 trade
Lazy day, slept through LO and now woke up late.
Kind of late to enter with that pullback candle seen earlier. But just to grab the 25 pips and BE quickly.
Lazy day, slept through LO and now woke up late.
Kind of late to enter with that pullback candle seen earlier. But just to grab the 25 pips and BE quickly.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #42,710
- Oct 24, 2014 5:29am Oct 24, 2014 5:29am
- Joined Nov 2008 | Status: Trader | 50,234 Posts
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #42,711
- Oct 24, 2014 5:31am Oct 24, 2014 5:31am
- Joined Nov 2012 | Status: Trader | 2,339 Posts
I Have Learned to Take Some Losses to Make Profits
- #42,712
- Oct 24, 2014 5:46am Oct 24, 2014 5:46am
- Joined Nov 2008 | Status: Trader | 50,234 Posts
{quote} Thanks a lot Emmanuel, good to know that EMA 10 on daily and EMA 200 on hourly represents each other , will use this information from day on
Hi TSS,
Here is a toy for you to play with since you trade with the 10EMA.
This indicator will show you where the higher TFs 10EMA is in realtime on lower TF chart like H1.
You know when price is near to the 10EMA of the higher TF and expect to see price reaction.
Note: there is no gaurantee that price will bounce from any moving average on the charts, it is just market reaction at the MAs. All moving averages are derived from the price, so the moving average will always catch up with the price not the other way around. The bigger the MA period, the longer ot takes to catch up with the price.
Have Fun.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #42,713
- Oct 24, 2014 6:33am Oct 24, 2014 6:33am
- Joined Nov 2012 | Status: Trader | 2,339 Posts
I Have Learned to Take Some Losses to Make Profits
- #42,716
- Oct 24, 2014 8:25am Oct 24, 2014 8:25am
- Joined Oct 2012 | Status: Trader | 1,813 Posts
Hi TSS, I was actually wondering if any of you masters got anything out of the market today. Except for and EUR/AUD trade i've missed at LO, i've managed to pick out some 25 pips long on gbp/jpy, rest BE. Ranging market and should stay out? And i have a question : How many pairs do you usually watch/trade? On one hand, i see Phx62 focuses on just one pair, maybe two, with highest ADR. Other tranders trade 3-4 pairs, and watch around 10.
- #42,717
- Oct 24, 2014 11:19am Oct 24, 2014 11:19am
- Joined Nov 2012 | Status: Trader | 2,339 Posts
I Have Learned to Take Some Losses to Make Profits
- #42,718
- Oct 24, 2014 11:27am Oct 24, 2014 11:27am
{quote} Everything moving in wicks on M15 today, even GJ was moving all day but any trades I get on get stopped out at BE, so not typical day for trading on my side, I don't mind drawdwons when PA hits BE +21 as long as it dosent takes me out, rather get ready for next week, at the end of the day what really matters is the ability to filter all this noise and save capital I watch 6 pairs, EU-GU-GJ-EJ-EA and Gold , I trade these because of their nice ADR all around, and the correlation going on and between them
Thanks a lot for the quick answer. And big thanks to you and Big E - i now trade multiple exits based on his advice.
Green pips to everyone, and looking forward to reading you usual weekend analysis!
- #42,720
- Oct 24, 2014 5:07pm Oct 24, 2014 5:07pm
- Joined Nov 2008 | Status: Trader | 50,234 Posts
{quote} Thank you for your educative posts. Please it will be nice if you explain your approach on inside bar entry and asian channel entry with tdi.
Hi Esosa,
Sorry for this late reply. On the road this week, so I have to read some backlog of posts and answer my PMs today.
The basic Inside Bar trading is explained in the attachment "Three Powerful FOREX Price Patterns" found in post#20,110.
The Inside Bar IB is one of my favourite CandleStick Pattern CSP because it is indication of market contraction or consoldaition. IBs appears very often in trending market, we see how price pulls back after a strong move. The price pull back often causes the TDI Price Line PL the green line to lose its angle or go flat, and in some extreme cases the PL hook backwards.
The Inside Bar indicator is just a visual aid on our charts to help use it when it is developing. Wait for that bar to close then plan your trade entry. The TDI Green PL over Red TSL for Buy and the Green PL below Red TSL for Sell. Use of the Yellow MBLline is to see the higher timframe price strength of the previous 13 period of the default TDI setting. Keep it Simple.
Below are two trade examples taken yesterday at New York open. Big E used to trade the H1 during the first 3 hours of the New York session. He traded the H4 chart at other times. IB trading can be adopted in the H4 chart trading.
In the above two trades, I use the CaveManager EA to manage these trades. Both were set to scale-out at +20pips and with Capital Protection set at 20pips, which means when price move further 20pips in favour and pull back, it will close the trade.
Asia Channnel aka Tokyo Channel trading is explained in the previous thread Craig Harris Stochastic Method which was move =d to the Commercial Contec forum. I treade a modified version of the Tokyo Channel which I use only the High-Low range of the Tokyo morning session. This suits my trading business hours and also next week is when I will trade this more. Reason is when the Daylight Saving DST changover takes place this weekend in Europe and the UK, there will be a longer period between Tokyo session and the London Open. This longer period is good to look for TOK_5H trades.
The TOK_5H trading is explained in post#20,111.
Hope this help with a better understanding. Please feel free to ask any questions and I do my very best to find time and will reply you.
Kind regards,
Have a Good Weekend.
Edit: Link to Craig Harris Stochastics Method thread here below:
http://www.forexfactory.com/showthread.php?t=211188
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett