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Trading Made Simple

  • #42,901
  • Oct 28, 2014 5:49pm Oct 28, 2014 5:49pm
Quoting MrAussieFX
GJ Trade {image} Didn't take EA trade yesterday as I was in GJ already. Kindest Regards
It would be magnificent if seniors share their overall analysis with the areas or points they are waiting to watch.
I'm with you on GJ MrAussie, here is my newbie chart, I'm particularly waiting for breakout of RN (175) after which we have a wide space.
Attached Image (click to enlarge)
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  • #42,902
  • Oct 28, 2014 7:22pm Oct 28, 2014 7:22pm
Quoting Kouroushi
{quote} It would be magnificent if seniors share their overall analysis with the areas or points they are waiting to watch. I'm with you on GJ MrAussie, here is my newbie chart, I'm particularly waiting for breakout of RN (175) after which we have a wide space. {image}
With increased market liquidity we should be looking at 330pips weekly range trading. Nice trending with recent weeks' swing levels nearby, we should expect reaction at these levels as well as the round numbers.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPY Big Picture.png Size: 25 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #42,903
  • Oct 28, 2014 8:03pm Oct 28, 2014 8:03pm
UCAD short opened on Daily, PT expecting at 38%fib, SL 10pips above confirmed candle
Attached Image (click to enlarge)
Click to Enlarge Name: UCAD D1 short Wed 29.10.14.png Size: 38 KB
Appreciation is the key to wealth and happiness
  • #42,904
  • Oct 28, 2014 8:46pm Oct 28, 2014 8:46pm
EA short on D1 opened, PT expecting at 50@fib, SL 10p above confirmed candle.

By the way, I am starting to move my trading toward H4, D1 (still having M15 on during LO/NY).
Appreciate that Seniors could give out your comments so we all have opportunities to learn together , and newbies pls do not follow my trades without doing your own works
Attached Image (click to enlarge)
Click to Enlarge Name: EA D1 short Wed 29.10.14.png Size: 34 KB
Appreciation is the key to wealth and happiness
  • #42,905
  • Oct 28, 2014 10:09pm Oct 28, 2014 10:09pm
Quoting likica
EA short on D1 opened, PT expecting at 50@fib, SL 10p above confirmed candle. By the way, I am starting to move my trading toward H4, D1 (still having M15 on during LO/NY). Appreciate that Seniors could give out your comments so we all have opportunities to learn together , and newbies pls do not follow my trades without doing your own works {image}

Good trade!...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #42,906
  • Oct 28, 2014 10:11pm Oct 28, 2014 10:11pm
GBPNZD and EURNZD H1 trades 29 Oct:

Attached Image (click to enlarge)
Click to Enlarge Name: GBPNZD 29 Oct H1 trade.png Size: 25 KB


Attached Image (click to enlarge)
Click to Enlarge Name: EURNZD 29 Oct H1 trade.png Size: 25 KB


Both trades are trading away from the Day Open and following previous day price action.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #42,907
  • Oct 28, 2014 10:41pm Oct 28, 2014 10:41pm
Likica,

Hope you don't mind if I chime in to your question regarding the 4 hour & daily charts.
I only trade the 4 hour & daily charts. For me, they are the most profitable charts. However,
they are boring to watch. So I end up placing my trade and shutting down the
computer for the next 4 hours. Be sure to set a emergency stop...

Thanks.

sj
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  • #42,908
  • Oct 29, 2014 12:46am Oct 29, 2014 12:46am
Quoting snarlyjack
Likica, Hope you don't mind if I chime in to your question regarding the 4 hour & daily charts. I only trade the 4 hour & daily charts. For me, they are the most profitable charts. However, they are boring to watch. So I end up placing my trade and shutting down the computer for the next 4 hours. Be sure to set a emergency stop... Thanks. sj {image}
Hi, Jack

How much is your emergency SL?

Thanks,
Simplicity is the ultimate sophistication - Leonardo da Vinci
  • #42,909
  • Oct 29, 2014 12:50am Oct 29, 2014 12:50am
Quoting likica
EA short on D1 opened, PT expecting at 50@fib, SL 10p above confirmed candle. By the way, I am starting to move my trading toward H4, D1 (still having M15 on during LO/NY). Appreciate that Seniors could give out your comments so we all have opportunities to learn together , and newbies pls do not follow my trades without doing your own works {image}
How come you move to higer TF? You had so good performance even at lower TF.... Are you a part time trader?
Simplicity is the ultimate sophistication - Leonardo da Vinci
  • #42,910
  • Oct 29, 2014 2:31am Oct 29, 2014 2:31am
EURNZD partial closed and BE,
GBPNZD trades closed.

Attached Image (click to enlarge)
Click to Enlarge Name: EURNZD 29 Oct H1 trade close1.png Size: 26 KB


Attached Image (click to enlarge)
Click to Enlarge Name: GBPNZD 29 Oct H1 trade close2.png Size: 27 KB


Today is FOMC in New York session.
London will open in about 30minutes, a new H4 candle.
Now I will look at H4 to manage my 4H swing trades and also if there is any new opportunities.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #42,911
  • Oct 29, 2014 3:53am Oct 29, 2014 3:53am
EURAUD and GBPAUD trades London Open.

This morning we saw AUDUSD bullish rally so I look at to sell EA and GA.
Keeping it simple as the way I trade intraday H1 and watching the Tokyo morning session, the first 5 hours which I call TOK_5H.
A narrow range TOK_5H usually will give good breakout trades during this sesaon when LO is later by one hour due to DST change.

Same approach, in simple steps.
1) when new day open, check D chart for the Day candle bias.
2) every 4H period interval, check H4 chart to see where the price action is and the TDI position.
3) look at today' Day Open price level, look at any 10EMAs nearby and also the three EMAs 10, 50, 200.
4) wait for first 5 hours of Tokyo to complete then draw the TOK_5H high -low.
5) look for TMS H1 setup using Price action with candlestick/bar patterns and let the TDI confirm.
6) pull the trigger.

Always trade away from the Day Open with the TDI confirming the PA and away from the 10EMAs.

Attached Image (click to enlarge)
Click to Enlarge Name: EURAUD 29 Oct H1 LO trades.png Size: 45 KB


Attached Image (click to enlarge)
Click to Enlarge Name: GBPAUD 29 Oct H1 LO trades.png Size: 45 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #42,912
  • Oct 29, 2014 4:01am Oct 29, 2014 4:01am
Quoting emmanuel7788
{quote} With increased market liquidity we should be looking at 330pips weekly range trading. Nice trending with recent weeks' swing levels nearby, we should expect reaction at these levels as well as the round numbers. {image}
Emmanuel,
I'm still amazed how different our charts are. Look at pin bar of yours with the body covered by previous bar & compare it with mine!!!
Analysis would be totally different this way.
Attached Image (click to enlarge)
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  • #42,913
  • Oct 29, 2014 4:06am Oct 29, 2014 4:06am
Quoting Kouroushi
{quote} Emmanuel, I'm still amazed how different our charts are. Look at pin bar of yours with the body covered by previous bar & compare it with mine!!! Analysis would be totally different this way. {image}

different broker price feeds do have some differences.
also, different server times will see slight difference OHLC.
Alparii is GMT+2
FXCM server I have is GMT+0.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #42,914
  • Oct 29, 2014 4:24am Oct 29, 2014 4:24am
Quoting emmanuel7788
EURAUD and GBPAUD trades London Open. This morning we saw AUDUSD bullish rally so I look at to sell EA and GA. Keeping it simple as the way I trade intraday H1 and watching the Tokyo morning session, the first 5 hours which I call TOK_5H. A narrow range TOK_5H usually will give good breakout trades during this sesaon when LO is later by one hour due to DST change. Same approach, in simple steps. 1) when new day open, check D chart for the Day candle bias. 2) every 4H period interval, check H4 chart to see where the price action is and the TDI position....
Dear Emmanuel,
Could I say my GBPNZD had the same approach?
Attached Image (click to enlarge)
Click to Enlarge Name: gbpnzdh1.png Size: 34 KB
  • #42,915
  • Oct 29, 2014 4:28am Oct 29, 2014 4:28am
Quoting heispark
{quote} How come you move to higer TF? You had so good performance even at lower TF.... Are you a part time trader?
I am a full time trader Heispark. It s all about lifestyle so I need to change my habit to free myself from screening time. I am still trading Oil from M5 M15 during NY as usual (my main focus)
Appreciation is the key to wealth and happiness
  • #42,916
  • Oct 29, 2014 4:28am Oct 29, 2014 4:28am
Quoting Kouroushi
{quote} Dear Emmanuel, Could I say my GBPNZD had the same approach? {image}

what is the H4 candles average range?
what is the range of Tokyo first 5 hours?

that is one of the criteria I use to determine if there is potential for a breakout when liquidity increases in the market.

Edit:
Also for those TMS traders using CaveManager EA to manage trades,

how do you decide when to use 20 pips or 25 pips or 30pips for TP1_1st _Batch in Pips?
how many pips to set for Capital Protection ?
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #42,917
  • Oct 29, 2014 4:36am Oct 29, 2014 4:36am
Quoting likica
{quote} I am a full time trader Heispark. It s all about lifestyle so I need to change my habit to free myself from screening time. I am still trading Oil from M5 M15 during NY as usual (my main focus)
It's not easy I'll tell you that. I started on M1 charts, and after some time I realized I was actually a lazy person and the only place I'd work my butt off, is the only place I don't really have to - in trading. H1-H4 charts can be truly freeing - I'm still trading intraday, taking advantage of a daily move entirely, but with like 2 hours of screen time. I'm managing pipping for my livelihood, university, a few side projects as well as keeping my social life intact
  • #42,918
  • Oct 29, 2014 4:40am Oct 29, 2014 4:40am
Quoting emmanuel7788
{quote} what is the H4 candles average range? what is the range of Tokyo first 5 hours? that is one of the criteria I use to determine if there is potential for a breakout when liquidity increases in the market.
Sorry taking your time Emmanuel,
How H4 AR & TOK-5H range should be?
Besides, do you consider TOK-5h but you enter at the end of these 5 hours or LO? if you enter at LO, why not considering all TOK-8H range?
  • #42,919
  • Oct 29, 2014 4:54am Oct 29, 2014 4:54am
Quoting Kouroushi
{quote} Sorry taking your time Emmanuel, How H4 AR & TOK-5H range should be? Besides, do you consider TOK-5h but you enter at the end of these 5 hours or LO? if you enter at LO, why not considering all TOK-8H range?

GZ has an average H4 range of about 54pips and when the TOK_5H is less that 50pips, I consider that as narrow range which I pick for breakout.
An average H1 candle move about 27pips, so when when normal volatility returns, it is good to make quick pips with TP1_1st_Batch_ exit to scale out.
Most recent 5 days ADR is 120pips, so set your TP within expectations for intraday trading.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #42,920
  • Oct 29, 2014 5:13am Oct 29, 2014 5:13am
Quoting WDays
{quote} It's not easy I'll tell you that. I started on M1 charts, and after some time I realized I was actually a lazy person and the only place I'd work my butt off, is the only place I don't really have to - in trading. H1-H4 charts can be truly freeing - I'm still trading intraday, taking advantage of a daily move entirely, but with like 2 hours of screen time. I'm managing pipping for my livelihood, university, a few side projects as well as keeping my social life intact
WDays,
How can you do that?
When I trade H1, I still find it essential to be at the screen at least for the first 5 hours of London.
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