ola olaf , yes you take 1 h i 4 hour, but we see the evolution
- #44,023
- Edited 3:04am Nov 17, 2014 2:48am | Edited 3:04am
- Joined Aug 2014 | Status: Membership Terminated | 4,544 Posts
- #44,025
- Edited 3:09am Nov 17, 2014 2:58am | Edited 3:09am
{quote} Hi Lorbax, if i may, i have a few questions/observations from your chart. ...
Second thing, keep in mind that simulator can be very fast-forward, i usually set it around 30-31 speed but often times I let it go to 32 which can be quite harsh, some trades are taken out from the normal session times (quite wrong) and some other are skipped because I was just too slow to slow down or pause the simulator in that moment .... said so, let's see your points...
1. On that trade #3, what makes you not want to take long after the 1st blue APB and TDI cross just before the good short trade? specially when the 1st blue APB is so much bigger compared to the candles before it. (its the blue candle in the blue box)
I actually didn't take neither of them because it was out of the normal session I would be awake at (I live @GMT+1) , but mostly, the 'long trade' you pointed out, I didn't like it because it was just out of a ranging area, and looked like a fake-out, if I don't see a #3 confirmation bar, I often expect PA to move to the opposite, which actually did - I didn't enter short because I got distracted or simply didn't notice during the simulation...
2.after missing the short trade, there are 2 bounce opportunities that you missed (observation). any reason why your not taking it?
I don't like bounces too much, and especially I don't like them when TDI green and signal red line are spread apart, I don't know if it's a real rule, but I don't get a nice feeling in that sense, in the very moment when this is happening it's difficult to spot it out, you only really notice it afterwards. IMHO good bounces are only when TDI green and red signal are very close or touch and then TDI bounces off instead of cut crossing it.
3.same thing with bounce after trade #4
same as question #2
4. Trade #5, i noticed that TDI went flat, i believe that's a signal to exit (observation)
Yes, probably it was the right thing to do, but it could also have led to a bounce situation, and so you could have said "hey it was a sell bounce, you should have stayed in" so you know, it's just shoulda/coulda/woulda ...
5. entry on trade #8 on the 2nd apb candle is a bit late? (the arrow hinted that you got in at 1.721ish instead of the start?) what was your trail anyway? for my own trade i usually activate trailling after +50 profit and i set it for 30 pips trail. same thing with trade#9 which i believe is a bounce and a reversal pattern. did you get in late as well?
This happened in the typical situation when the simulator goes too fast, and I skipped the perfect entry - the good thing about it is that it puts some real variables in the simulation (such as your computer freezes, internet connection falls .... ) it can happen you have to enter later than perfect entry-point, and I tested it, I was curious of the outcome
6. what about the TDI cross between trade #9-10 that bullish push for 3 candles, what is your reason for not getting in on it? i'm curious.
TDI cross happened below MBL (yellow) so basically we had a short sentiment, PA was going down (after trade #9) so I didn't like to enter counter-trend, probably I could have brought green pips, but I consider it a bit too aggressive for me now, I prefer making conservative green pips rather than the adrenaline of the red ones haha
7. trade #10, how did you find the courage to get in on candle 4 i have no idea
. although technically without using TDI, you can probably see how the price reacts around 1.74 regions and it has been rejected 3 times. so you could have gotten in sooner. on the 2nd red apb. 7c is the nice long bounce just before the sudden bear push ya? p.s good testing I don't over-analyze the candles, when I see a perfect cross of the TDI and the APB in the right direction/color I jump it - You are right it was bar#4, but as you can see bar#1 was a big doji or a so-called 'spinning top' , I just didn't take it into account, so I entered bar#3 , which yes, it's too late anyway usually, but that's the simulator ... in a matter of seconds you are fast-forward of a bunch of hours ...
Hope this can be useful to you all and to me too
please feel free to add comments - have a nice day
cheers
Lorenzo
- #44,026
- Nov 17, 2014 3:24am Nov 17, 2014 3:24am
- Joined Dec 2013 | Status: Trader | 1,680 Posts
Sad i'm not trying to understand PA
- #44,027
- Nov 17, 2014 3:32am Nov 17, 2014 3:32am
Whether you think you can or whether you think you can't, you're right. - Henry Ford
I really liked GBPJPY @H4, good ol' henry helped ...
half lot out +50, other half running, SL set to BE+5 .
wish some of you jumped in too..
cheers
I really liked GBPJPY @H4, good ol' henry helped ...
half lot out +50, other half running, SL set to BE+5 .
wish some of you jumped in too..
cheers
Lorenzo
- #44,029
- Nov 17, 2014 3:52am Nov 17, 2014 3:52am
- Joined Aug 2014 | Status: Membership Terminated | 4,544 Posts
Whether you think you can or whether you think you can't, you're right. - Henry Ford I really liked GBPJPY @H4, good ol' henry helped ...
- #44,030
- Nov 17, 2014 3:59am Nov 17, 2014 3:59am
- Joined Nov 2008 | Status: Trader | 50,190 Posts
{quote} Hello Emmanuel7788. Can you please clear up my confusion. In the image that accompanies the above post you state "To be a valid 3-bar PCRF, Bar 3 must close higher than the High of Bar 1". I can't recall Phx62 (who defined a PCRF) saying that. Can you please tell me where I can find it.
Hi Kanderpro,
Sorry for this late reply. I start my year-end vacation this week so I have only time at night to catch up with this forum.
PCRF is a term created by Phx62. I studied all his charts very closely and learned that there are many of such PCRF which consist of 3 price bars.
Hence I specifically call them 3-bar PCRF in my posts. This is also consistent with what I learned from a Japanese Candlestick course by Steve Nison few years ago. There are also other PCRF type of chart patterns.
To trade the PCRF with higher probability it requires the TDI version to go along wih the price action.
Attached chart is an example using GBPJPY H1. You will notice that different TDI version and different parameter setting will show different TDI PL slope/angle.
Therefore, TMS traders must know what they are trading price action with price momentum which the TDI is telling us.
Phx62 uses the version which was posted by eelfranz. That is the version shown as the lower second TDI on the chart I post below.
Hope this explains the 3-bar PCRF which differentiate from other PCRF chart patterns.
regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #44,031
- Nov 17, 2014 4:04am Nov 17, 2014 4:04am
- Joined Nov 2008 | Status: Trader | 50,190 Posts
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #44,032
- Nov 17, 2014 4:08am Nov 17, 2014 4:08am
Hi Folks, please be cautious when trading JPY pairs. Japan is in "technical recession" as you may already heard the news. expect some erratic volatility. Preserve trading capital is prudent thing to do when you are uncertain with some TMS setups. Trade Safe!
Lorenzo
- #44,033
- Nov 17, 2014 4:10am Nov 17, 2014 4:10am
- Joined Aug 2014 | Status: Membership Terminated | 4,544 Posts
Hi Folks, please be cautious when trading JPY pairs. Japan is in "technical recession" as you may already heard the news. expect some erratic volatility. Preserve trading capital is prudent thing to do when you are uncertain with some TMS setups. Trade Safe!
- #44,034
- Nov 17, 2014 4:11am Nov 17, 2014 4:11am
- Joined Nov 2008 | Status: Trader | 50,190 Posts
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #44,038
- Nov 17, 2014 4:24am Nov 17, 2014 4:24am
- Joined Aug 2014 | Status: Membership Terminated | 4,544 Posts
- #44,039
- Nov 17, 2014 4:26am Nov 17, 2014 4:26am
- Joined Nov 2008 | Status: Trader | 50,190 Posts
hello emmanuel please but how do on dmi indicator to see if an intersection has a good angle to get in? is there any other indication or go to your eye? and as an indicator dmi we have to use that does not repaint ? thanks
when you use visual to see the TDI angle, that becomes subjective.
look at the same TDI on the same chart below.
upper one is 1x window size
lower one is 2x window size
so what is the optimim window size?
Answer: use keyboard "CTRL + A".
or use an indcator which calculates the TDI angle using its real price data.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #44,040
- Nov 17, 2014 4:26am Nov 17, 2014 4:26am
{quote} Help me lorbax - you're my only hope... lol. I took EJ [Yes, Wqiang... but long] - it looked good at first then it developed this funny kink shape - I'm getting smashed! Its hitting support so I'm hanging on for dear life! Thanks for the comments in the previous post - that bit about the bounce is so right, thanks! {image}
please don't put your hopes on me haha...
Whatever was the reason of your entry, once you realize you're on the wrong direction, JUMP-OUT immediately !
I suggest you not to enter in the mentality loop of saying "there is this support, that resistance, let's hope it will bounce off ... " because you could always find N+1 excuses to justify your decision, just check what you see on the PA ... is it going up or down? up-long , down-short ... that's the only thing that matters.
Don't put the word 'hope' in your trading, A is A, B is B.
I really suggest you to read "The zen in the markets" book by Toppel. It's a short and easy book to read ... but it's one of a kind!
check it out: http://goo.gl/DQOk6w
have a good day
Lorenzo