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Trading Made Simple

  • #43,041
  • Oct 30, 2014 8:18am Oct 30, 2014 8:18am
Quoting Kouroushi
{quote} Totally got you... Thanks... But why not taking GA today... I got it for +28 pips as you can see on the chart... my reasons were: Good H1 cross H4 stepping down Good M15 momentum Enough space to run it What were your reasons for not taking it & weren't my reasons compelling enough? And regarding my exits, I exited at 1st & 2nd as shown on the chart, if I exited all at 1st for +28, there wouldn't be any stress during that huge retracement. Even I could decide to close the remaining half with a small loss in the retrace!!! I mean do you think...
I didn't like it because of the asian session candles, I felt the market was in turmoil because of the FOMC data, the dust seems to still be settling. It's just my personal preference, I look for really neat and clear PA for my trades. There's a couple of bar formations that I enjoy and trust when I'm entering a trade that is against the most recent move, I didn't see any of them here, for all I knew back in LO, this may well have been some consolidation. When I see how choppy the market has been since this morning, I'm all the more sure I did the right thing I'm not saying you SHOULDN'T have shorted, I'm saying I wouldn't.
What's more, if you do some TA, you'll notice that H4 hit against the .618 fibonacci level, but price is still reluctant to turn down, and besides even if it did we'd have to put up with the demand area right below, where yesterday's low is at. Too much of a hassle for me

As far as TP goes, I enjoy a 50 or 100 pip TP. I'm still working up the nerve to leave trades running for 100 pip targets, so far there hasn't been much opportunity for me to enter such a trade. However, I knew it would be painful to get 50 off this morning's setup so I just decided not to do anything. That being said, in hindsight I would have been taken out at b/e anyway.
  • #43,042
  • Oct 30, 2014 8:38am Oct 30, 2014 8:38am
Anybody have Heikin Ashi chart pattern book? I am trying to find this but unfortunately I am not able to find it ... If someone have please kindly share here!

Thanks.
I Win, I Lose, It's my Job... And I Love it!
  • #43,043
  • Oct 30, 2014 8:50am Oct 30, 2014 8:50am
Quoting umairsheikh2
Anybody have Heikin Ashi chart pattern book? I am trying to find this but unfortunately I am not able to find it ... If someone have please kindly share here! Thanks.
What's a heiken Ashi chart pattern book?
  • #43,044
  • Oct 30, 2014 9:09am Oct 30, 2014 9:09am
Quoting WDays
{quote} What's a heiken Ashi chart pattern book?
Like Doji, uper shadow candle and lower shadow candle etc ...
I Win, I Lose, It's my Job... And I Love it!
  • #43,045
  • Oct 30, 2014 9:32am Oct 30, 2014 9:32am
There you go , my wired trades today, first one took it before news, put a stop of 50 below LO low, was couple of pips I guess before hitting that, got out at BE

Next one, chasing PA on what seems to me breaking the bullish pin outside bar, closed at BE again

I dont know if I can call this is a positive day but I guess the win win is over
Attached Image (click to enlarge)
Click to Enlarge Name: EU_H1.jpg Size: 311 KB
I Have Learned to Take Some Losses to Make Profits
  • #43,046
  • Oct 30, 2014 9:33am Oct 30, 2014 9:33am
Quoting umairsheikh2
{quote} Like Doji, uper shadow candle and lower shadow candle etc ...
have a look at this.
Attached File(s)
File Type: pdf What Is Heikin-Ashi-1.pdf   1.1 MB | 934 downloads
the cautious seldom err....C
  • #43,047
  • Oct 30, 2014 9:46am Oct 30, 2014 9:46am
Quoting pips29
{quote} have a look at this. {image}
Thanks but I already have this book!
I Win, I Lose, It's my Job... And I Love it!
  • #43,048
  • Oct 30, 2014 9:52am Oct 30, 2014 9:52am
GJ Buy Trade Followup post#42,932

I forgot to put my initial TP at 88.6 fib expansion when I posted my GJ buy trade and the PA did went to the 88.6 fib before it reversed with FOMC news. I didn't close my trade for two reasons:
1. My overall bias was bullish on GJ and daily TDI (Green above red above MBL)
2. The news did reversed the PA but PA failed to close below previous day low and previous week high

I moved my initial TP to 88.6 this time and it got hit while I was at work, trade closed. Nearly end of the month, If I got lucky this time better to stay safe.
Attached Image (click to enlarge)
Click to Enlarge Name: GJ Buy 311014 TP hit.png Size: 203 KB



EA Sell H4 Trade
Attached Image (click to enlarge)
Click to Enlarge Name: EA sell H4 311014.png Size: 315 KB


Kindest Regards
  • #43,049
  • Oct 30, 2014 10:01am Oct 30, 2014 10:01am
Quoting MrAussieFX
GJ Buy Trade Followup post#42,932 I forgot to put my initial TP at 88.6 fib expansion when I posted my GJ buy trade and the PA did went to the 88.6 fib before it reversed with FOMC news. I didn't close my trade for two reasons: 1. My overall bias was bullish on GJ and daily TDI (Green above red above MBL) 2. The news did reversed the PA but PA failed to close below previous day low and previous week high I moved my initial TP to 88.6 this time and it got hit while I was...
Bro, What indicator you are using for pivot points? Its look really good.
I Win, I Lose, It's my Job... And I Love it!
  • #43,050
  • Oct 30, 2014 10:10am Oct 30, 2014 10:10am
Quoting umairsheikh2
{quote} Like Doji, uper shadow candle and lower shadow candle etc ...
Oh you mean basic price patterns? You don't need a special book on HA patterns... as a matter of fact I don't think such a thing even exists Set your chart to barchart, set chart to foreground, zoom in once and voila, you can see open, high, low close of candles and price action

Here's what I mean
Attached Image
  • #43,051
  • Oct 30, 2014 10:17am Oct 30, 2014 10:17am
Quoting umairsheikh2
{quote} Bro, What indicator you are using for pivot points? Its look really good.
Attached File(s)
File Type: ex4 ###Daily-Weekly-Monthly Hi-Low.ex4   40 KB | 517 downloads

Attached File(s)
File Type: mq4 ###Daily-Weekly-Monthly Hi-Low.mq4   20 KB | 530 downloads


Kindest Regards
  • #43,052
  • Oct 30, 2014 11:18am Oct 30, 2014 11:18am
40 pips on WTI Crude Oil 15 min chart, even I entred a little late as the breakout happened with beginning of London session.
Attached Image (click to enlarge)
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  • #43,053
  • Oct 30, 2014 11:31am Oct 30, 2014 11:31am
Quoting MrAussieFX
{quote} {file} {file} Kindest Regards
Thanks. Take a look please!

Attached Image (click to enlarge)
Click to Enlarge Name: H4.png Size: 45 KB


Quoting WDays
{quote} Oh you mean basic price patterns? You don't need a special book on HA patterns... as a matter of fact I don't think such a thing even exists Set your chart to barchart, set chart to foreground, zoom in once and voila, you can see open, high, low close of candles and price action Here's what I mean {image}
Great!!
I Win, I Lose, It's my Job... And I Love it!
  • #43,054
  • Oct 30, 2014 11:59am Oct 30, 2014 11:59am
Quoting umairsheikh2
{quote} Thanks. Take a look please! {image} {quote} Great!!
You can always change the settings in the indicator to your liking.

Regards
  • #43,055
  • Oct 30, 2014 12:26pm Oct 30, 2014 12:26pm
Really want to thank everyone who contributes to this thread.
I know we're like 10 newbies who thank you guys every month, but you turn us into traders.

Using TMS, i've finished with +20% of my acc in October.

Plus, i've reached my first +50 pip TP today, eur/aud.

Entered on the break of the prev candle low, on LO, TDI confirmation, h4 TDI confirmation, exited half at +24 and half at +50.
Attached Image (click to enlarge)
Click to Enlarge Name: EURAUDH1 - 30.10.png Size: 41 KB


Took a quick eur/jpy trade at the break of the prev candle low, with TDI agreement, for quick +25. Put a small TP due to the low ADR of this pair in recent weeks.
Attached Image (click to enlarge)
Click to Enlarge Name: EURJPYH1.png Size: 40 KB


The GBP/AUD trade .. here i have one question. I exited half of the position at +25, then it returned, hit my BE SL, and proceeded to run 60-70 pips in my favor. Also, i see these things happen pretty often. If i enter on the break of the prev candle low at LO, the price will often go 20-30 pips in my favor, retrace to my initial entry then proceed to go 50-80 pips in the correct direction. Am i mistaken?

Attached Image (click to enlarge)
Click to Enlarge Name: GBPAUDH1.png Size: 37 KB



Again..want to thank everyone here.
I have a lot to learn .. how no to over-trade, how to be careful with HTF analysis, how to hold my profits, maybe not cut my losses so short .. a lot to learn.
But i feel that with all this thread, i'm on the right track.

KUDOS!
  • #43,056
  • Oct 30, 2014 12:42pm Oct 30, 2014 12:42pm
Dear traders !
Today I had only one trade.
I know there were more opportunities, biut I wasnīt at my office today .

hereīs my EA H4 trade .
I put an security SL with 40 pips , and a fix TP 50 pips.
After entereing the trade at the second candle open ,
I closed my notebook and left the house for meetings.

Itīs one of the trades that just donīt work .
-40 Demopips today.
next week Iīm back on my trading desk and have time to catch some pips on the market .
Guido
Attached Image (click to enlarge)
Click to Enlarge Name: EURAUDH4.png 30.10..png Size: 42 KB
Risiko birgt immer auch die Chance.
  • #43,057
  • Oct 30, 2014 1:22pm Oct 30, 2014 1:22pm
EURJPY..
Attached Image (click to enlarge)
Click to Enlarge Name: 2014-10-31_0-19-05O_EJ.png Size: 34 KB
Sad i'm not trying to understand PA
  • #43,058
  • Oct 30, 2014 2:55pm Oct 30, 2014 2:55pm
Quoting omonisha
EURJPY.. {image}

omonisha;
Look at your first blue candle and compare that with mine !
Attached Image (click to enlarge)
Click to Enlarge Name: EURJPY@H4.png Size: 33 KB
  • #43,059
  • Oct 30, 2014 2:59pm Oct 30, 2014 2:59pm
Quoting farhad10
{quote} omonisha; Look at your first blue candle and compare that with mine ! {image}
Different broker times;

US brokers are still 1 hour back, so the 00:00, 4:00, 8:00, 12:00, 16:00, 20:00 candles are at 11:00, 3:00, 7:00, 11:00, 15:00 etc.
  • #43,060
  • Oct 30, 2014 4:40pm Oct 30, 2014 4:40pm
I got killed by GJ and rescued by EA
Appreciation is the key to wealth and happiness
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