EJ H4 trade from yesterday:
268 pips this moment
268 pips this moment
Attached Image
- #43,102
- Oct 31, 2014 7:38am Oct 31, 2014 7:38am
- Joined Nov 2012 | Status: Trader | 2,339 Posts
I Have Learned to Take Some Losses to Make Profits
- #43,104
- Oct 31, 2014 8:40am Oct 31, 2014 8:40am
- Joined Jun 2013 | Status: Membership Rewarded | 3,206 Posts
Risiko birgt immer auch die Chance.
- #43,105
- Oct 31, 2014 8:43am Oct 31, 2014 8:43am
{quote} Hereīs my interpretation of EU , for a last Friday in a month. I just had in mind lower lows are possible . Hunted a short trade . TP 55 pips ( hit ) on a lower low. Green pips to all of you and wish you a wonderful weekend. Guido {image}
Lorenzo
- #43,106
- Oct 31, 2014 8:58am Oct 31, 2014 8:58am
This morning 09.00 am italian time (gmt+1) , on the H1 chart I entered the followings:
AUDCAD
It first went positive for something like 12-15 pips and then it retraced down, after three hours I was sick of it and I closed before the news on CAD, and then it boomed up. There are two way of reading it in my point of you
AUDCAD
It first went positive for something like 12-15 pips and then it retraced down, after three hours I was sick of it and I closed before the news on CAD, and then it boomed up. There are two way of reading it in my point of you
- I did well closing before the news
- Charts (markets) discounts everything, news included
Asking the big boys here, what is your opinion about this ? of course I closed +5 while I could have "easily" reached my target of +25
It's stressful sometimes, because it's a trade off in decision whether to let it run and maybe in 4hrs you have "+10...-10 ... 0 ... +20... +5... 0... -10.... 0... and then +30" or closing quickly on the first move after the candle open. Enter quickly at 00 minutes and exit fast ... Opinions ? Ideas ?
I know it's a never ending story, I know it's much more ranging then other periods so there are all small wings. I just wanna share my "frustrarion" sometimes, even though I'm ok with it, there are so many entry signals, not a big deal, there is always tomorrow and next trades... but still 
Lorenzo
- #43,107
- Oct 31, 2014 9:04am Oct 31, 2014 9:04am
- Joined Nov 2012 | Status: Trader | 2,339 Posts
I Have Learned to Take Some Losses to Make Profits
- #43,108
- Oct 31, 2014 10:27am Oct 31, 2014 10:27am
- Joined Nov 2012 | Status: Trader | 2,339 Posts
I Have Learned to Take Some Losses to Make Profits
- #43,109
- Oct 31, 2014 11:45am Oct 31, 2014 11:45am
- Joined May 2012 | Status: Happy trading n enjoy green pips | 5,322 Posts
oil scalping on M1 today bagged +48 green.
I did not do well with any fx pair today
I did not do well with any fx pair today
Appreciation is the key to wealth and happiness
- #43,112
- Oct 31, 2014 12:38pm Oct 31, 2014 12:38pm
- Joined Oct 2012 | Status: Trader | 1,813 Posts
emmanuel7788 & WDays & omonisha Thank you for your answers! This is all about experience, and thank you for sharing it
{quote} Hi emmanuel, Thank you for your time, chart postings and all the in depth explanations. Truly appreciate every bit of it and trying to absorb everything I'm reading. Soooo much to take in, but getting it slowly. I also want to take this opportunity to thank: Bizzle, WDays, Omonisha, TheScorps, Lastingwell, MrAussie and everyone else that is contributing in this wonderful thread. PS... hey Wdays, whenever you say "not to sound rude" you actually very politely direct the concerned trader in right direction. I couldn't help myself.. hehehe...
You make it a pleasure and an honor to be a poster in here - #43,113
- Edited 6:05pm Oct 31, 2014 5:27pm | Edited 6:05pm
- Joined Nov 2008 | Status: Trader | 50,214 Posts
{quote} Dear Emmanuel, I notice you mostly look for MCs & Carvas Boxs during Asian session, is that right? Do you wake up early for them? Another question I asked you & you probably didn't see is that for selling, whether TDI cross near overbought or tDI cross below MBL is more important for you? Thanks in advance
Here is a good example. Details and comments on chart below.There is a strong trend but there is first sign of a structure change.
Next week, is a good opportunity seen on the chart. See if you can spot that.
regards,
Have a Good Weekend.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #43,114
- Oct 31, 2014 5:44pm Oct 31, 2014 5:44pm
- Joined Nov 2008 | Status: Trader | 50,214 Posts
{quote} Hi emmanuel, Thank you for your time, chart postings and all the in depth explanations. Truly appreciate every bit of it and trying to absorb everything I'm reading. Soooo much to take in, but getting it slowly. I also want to take this opportunity to thank: Bizzle, WDays, Omonisha, TheScorps, Lastingwell, MrAussie and everyone else that is contributing in this wonderful thread. PS... hey Wdays, whenever you say "not to sound rude" you actually very politely direct the concerned trader in right direction. I couldn't help myself.. hehehe...
Thank you for your kind words of appreciation. In sharing and helping others here, it also helped me reinforced what I learned. Questions make me probe deeper into every topic and aspect of trading. I enjoyed doing this as much as you enjoyed reading my posts.
About the use of 21EMA, it is nothing new. Our late OP eelfranz whom we fondly call Big E used that 21EMA in his early trading days. Look at this post#2629 where he explained the 21/233 EMA setup.
http://www.forexfactory.com/showthre...01#post4114501
That is another proven trading method and we do not need to re-invent the wheel. It's there time tasted and well explained with many posts in that Craig Harris Stcohastics Method thread.
But in this TMS thread, we focus on the 5-Method only. That is the reason why this thread got started in the first place. Both these methods share same characteristics. You can trade all timeframes using either methods and not restricting to H4 charts.
regards,
Have a Good Weekend.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #43,116
- Oct 31, 2014 7:24pm Oct 31, 2014 7:24pm
- Joined Nov 2008 | Status: Trader | 50,214 Posts
This morning 09.00 am italian time (gmt+1) , on the H1 chart I entered the followings: AUDCAD {image} It first went positive for something like 12-15 pips and then it retraced down, after three hours I was sick of it and I closed before the news on CAD, and then it boomed up. There are two way of reading it in my point of you I did well closing before the news Charts (markets) discounts everything, news included Asking the big boys here, what is your opinion about this ? of course I closed +5 while I could have "easily" reached my target of +25...
Looking at your H1 chart, the buy decision was a good one. The previous Day was bullish and a piercing D candle closed. A lot of play between Big Round Numbers for the entire month after last month Sep very strong bearish candle closed.
However, when trading intraday we are always exposed to market reaction to news and events of that day. All the news release timings we see in forums are all late to the public. The economic data are collected by someone somewhere and are reported to someone somewhere, who will then decide on the official publication release of such data. That cannot happen in minutes. It take many hours, even days and maybe a week to collected the data, analyse them and make them in nice format for reporting purposes. By the time these data are available for reporting to that someone somewhere, the data are already known long before the official news times in forums. We retail traders have no chance to know. We trade the market noise created by the market itself and the smart money have the upper hand. That is what I believe and hold on to this belief. Therefore I am conseravtive when I trade intraday.
But on the higher timeframe like Day and Weekly, the news factor are already factored in the market. But trading the higher timeframe do require bigger stops to survive the volatility there too.
Now doing my usual weekend exercise, I update my MN chart below.
We saw that near perfect XABCD completion on MN chart and usually after such a nice harmonic wave, the following waves become not so nice.
Then, Sep MN we saw the nice move down to the BRNs. Oct early Days we see lots of activity around the Close and Low of Sep MN.
Now with Oct closed, we can conclude that it was sideways but pretty wide range +/- 100pips and we can look for the next move.
I would be looking for continuation of Sep but should be prepared for more sideways movements. Good enough for day trading and good RR.
regards,
Have a Good Weekend.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #43,117
- Edited 7:46pm Oct 31, 2014 7:35pm | Edited 7:46pm
- Joined Nov 2008 | Status: Trader | 50,214 Posts
Darvas Box I have searched the sites attachments, but I cannot find a Darvas Box indi, can someone please let me know where I could find it. Thanks
There are Darvas Box indicator in MT4 but not one works for me.
It is very simple to know where the swing high and swing lows just by looking at each bar and every subsequent 3 bars following that swing high or swing low.
Simply draw a line on the swing high which have 3 consecutive bars with lower highs than that swing high bar. Do the the opposite for swing low.
If you trade with TradeStation, you can find good ones but they are not free. I use them for stocks trading only.
Edit:
add an example below, took me 3 minutes to draw that on H1 but hat need some practice hours.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #43,120
- Oct 31, 2014 8:23pm Oct 31, 2014 8:23pm
- Joined Nov 2008 | Status: Trader | 50,214 Posts
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett