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Trading Made Simple

  • #44,461
  • Nov 21, 2014 1:55am Nov 21, 2014 1:55am
Quoting Pipsta972
Hi Lastingwell! Good to meet you. I tend to get stopped out a lot for pulling my SL to BE too quickly (mostly within 20 pips, not matter what TF I'm trading on). I went through the thread and the trades you have posted over the last months but couldn't find out how you go about moving to BE. Could you possibly tell me from you experience? Thank you very much!
That situation is very often, when you move your SL to BE and then price hit it. This week i have a lot of BE trades... I place my SL to BE after price go 20-25 pips my way. This is very often situation, and you have to find the way to solve this problem. Only thing i can advice is try to close 50% (or 30%, or 70%, whatever you want) of profit at +20-25 pips. And let the rest run to hit BE or TP. I don't really like to close half positions, but i have the same story again and again, so i am thinking about it very serious right now.
  • #44,462
  • Nov 21, 2014 2:14am Nov 21, 2014 2:14am
Quoting toledoFX
{quote} That situation is very often, when you move your SL to BE and then price hit it. This week i have a lot of BE trades... I place my SL to BE after price go 20-25 pips my way. This is very often situation, and you have to find the way to solve this problem. Only thing i can advice is try to close 50% (or 30%, or 70%, whatever you want) of profit at +20-25 pips. And let the rest run to hit BE or TP. I don't really like to close half positions, but i have the same story again and again, so i am thinking about it very serious right now.
Thank you ToledoFX. Yes, exactly you're speaking my mind. I just set my trade manager to do exactly that - scaling out a portion of the trade even though I was not a fan of closing the position partially.
Repetition is the Mother of Skill
  • #44,463
  • Nov 21, 2014 2:52am Nov 21, 2014 2:52am
Trading the higher period retracement on EURJPY - b/e locked after it went 30 pips in my favor.
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  • #44,464
  • Edited 4:00am Nov 21, 2014 2:57am | Edited 4:00am
Quoting griffinssoul
I just spotted EChf (H4/D1)... anyone take this... entry would have been about 8 hrs ago (2 HA 4H) as a 4H TDI bounce with D1 confirmation (assumed) TDI cross: +70pips as far as I can see... Ok, sitting on hands & watching for now... lol... watching GChf H4/D1...
GChf +78... got hands full... back in a sec with chart... what did Draghi say...LOL! Ok, wow..., I'm playing a 4H/D1 TDI bounce with (assumed) TDI cross developing nicely on the D1 [notice the nice angles that they meet at and the nice angles of the lines themselves]. Also notice RSI type divergence on both TFs... PA @ D1 hitting heavy support...
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  • #44,465
  • Nov 21, 2014 2:58am Nov 21, 2014 2:58am
Quoting likica
{quote} If you look through my posts you will notice I took a lot of counter trend trades which considered high risk. Pay attentions to price actions.... TMS method itself is simple as it sounds but we need price actions to allow us to get us the edge. That s why Big E said always look left... I am not a good driver but I always say ' TDI crosses do not mean I can get in the market safely without looking how it behaved recently like yellow traffic lights telling me to get ready to turn but if coming cars not slowing down I can't turn or I will get...

Thanks for the explanation. Excellent!!

How do you exit? Do you have any set pips to target or when the TDI hooks back you will exit your trade?

When there are failure trade-> How do you decide when to get out of the trade.

Do you trade only London hours?

I know you scalp oil on M5,M15 ..... What about forex pairs? You trade only H1?

By looking at left -> how do you decide structure of PA?

Many questions. For the sake all of us, please try to answer, if possible. I know some of them and would like to know your view. That's what learning is all about.

Regards,
AB
  • #44,466
  • Nov 21, 2014 3:08am Nov 21, 2014 3:08am
GU +44pips atm, moved to BE+4

originally tp was 30 pips....for some reason i woke up and check and see it was almost hit, so i moved it a bit more.
right now i put it close to recent low spike.....i honestly have no idea where i should put the tp at.....
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Daniel
  • #44,467
  • Nov 21, 2014 3:09am Nov 21, 2014 3:09am
Nice friday moves. EU pairs going really good. Took EUR/AUD after braking Asian range - ADR for the day was about 35 pips that moment, so i was waiting for a good breakout. TP +40 was hit very quickly, i guess, i had to move it lower, but that's still ok. Done for the week with no losses this week, but a lot of BE trades.
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  • #44,468
  • Nov 21, 2014 3:11am Nov 21, 2014 3:11am
That was fast
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  • #44,469
  • Nov 21, 2014 3:13am Nov 21, 2014 3:13am
Quoting toledoFX
Nice friday moves. EU pairs going really good. Took EUR/AUD after braking Asian range - ADR for the day was about 35 pips that moment, so i was waiting for a good breakout. TP +40 was hit very quickly, i guess, i had to move it lower, but that's still ok. Done for the week with no losses this week, but a lot of BE trades. {image}
Well done mate!
Repetition is the Mother of Skill
  • #44,470
  • Nov 21, 2014 3:15am Nov 21, 2014 3:15am
Quoting WDays
That was fast {image}
well done sir!
are you done for the week now? or continues to look for opportunity before NY opens
Daniel
  • #44,471
  • Nov 21, 2014 3:20am Nov 21, 2014 3:20am
Quoting Greenb
{quote} well done sir! are you done for the week now? or continues to look for opportunity before NY opens
Thank you, I'm done I'd rather have less entries and not give back to the market, besides I'm up around 130 pips for the week which is perfectly fine by me
  • #44,472
  • Nov 21, 2014 3:22am Nov 21, 2014 3:22am
Quoting WDays
{quote} Thank you, I'm done I'd rather have less entries and not give back to the market, besides I'm up around 130 pips for the week which is perfectly fine by me
alrighty then, enjoy the rest of the weekends
that said, i'll do the same. Going to let GU bring home some bacon and then ignore my 2am signals.
no reason to get into new 4h trade at end of week hey.
Daniel
  • #44,473
  • Nov 21, 2014 3:23am Nov 21, 2014 3:23am
Went to short EurJpy too on retracement with TDI bounce.
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  • #44,474
  • Nov 21, 2014 3:23am Nov 21, 2014 3:23am
Quoting Greenb
{quote} alrighty then, enjoy the rest of the weekends that said, i'll do the same. Going to let GU bring home some bacon and then ignore my 2am signals. no reason to get into new 4h trade at end of week hey.
I completely agree Make money to live, don't live to make money... Pips are just there to pay for my weekend after-dark debauchery...
  • #44,475
  • Edited 3:46am Nov 21, 2014 3:24am | Edited 3:46am
Quoting ababias
{quote} Thanks for the explanation. Excellent!! How do you exit? Do you have any set pips to target or when the TDI hooks back you will exit your trade? When there are failure trade-> How do you decide when to get out of the trade. Do you trade only London hours? I know you scalp oil on M5,M15 ..... What about forex pairs? You trade only H1? By looking at left -> how do you decide structure of PA? Many questions. For the sake all of us, please try to answer, if possible. I know some of them and would like to know your view. That's what learning...
wow many questions but all good one. will try my best to dig in my not too long experience in fx to answer.
- PT = ATR(7) x 1.5 sometime x 2 or S/R (take a look at my most recent EA entry and exit as attached where I spot pin bar again and exit just above 21ema on H4)
- will exit with loss when a bar show the opposite momentum (pin bar, tdi hook,etc) if I was monitoring my trades. If I was away, too bad if market took my pips from SL.
- very basic PA by looking left for any near S/R if any room to move, candle sizes to show if bull strong or bear strong, you can't go short if your left showing only big full bodied blue candles/bars, etc.
- I am normally at my PC 1 hour before SO, LO, NY concentrating on my trading for 2 hrs of each session.
- open H4, H1, M15 charts for FX ( I am slowly moveing up to D1, H4, H1) since looking at lower TF making me tired and wanting to jump out early.

Gosh, just came back from my PC, EA moved more than 100 pips from my entry.
Attached Image (click to enlarge)
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Appreciation is the key to wealth and happiness
  • #44,476
  • Nov 21, 2014 3:29am Nov 21, 2014 3:29am
Left lots of pips on the table from EJ ( I was out for dinner, came back with 39 green from this short)
Attached Image (click to enlarge)
Click to Enlarge Name: EJ H1 short (bounced) Fri 21.11.14 +35.png Size: 33 KB
Appreciation is the key to wealth and happiness
  • #44,477
  • Nov 21, 2014 3:31am Nov 21, 2014 3:31am
Quoting WDays
{quote} Thank you, I'm done I'd rather have less entries and not give back to the market, besides I'm up around 130 pips for the week which is perfectly fine by me
Good for you WDays
I only managed to be at my PC for 2 trades this week, both EA both losers :0( to counteract last weeks 2 winners.
Oh well next week is a new start.

Happy pip hunting..
  • #44,478
  • Nov 21, 2014 3:32am Nov 21, 2014 3:32am
Quoting WDays
That was fast {image}

just read earlier post and realized your chart and mine look very ...the same. must be from the same source
Appreciation is the key to wealth and happiness
  • #44,479
  • Nov 21, 2014 3:47am Nov 21, 2014 3:47am
Missed EJ move. Entered GJ on M15. Broke structure and TDI's looked great.

Got stopped out at BE - as usual, I sadly have to add. It's my pattern. Set my trade manager to BE at 20 pips.
Attached Image (click to enlarge)
Click to Enlarge Name: FX_TS2237 Nov. 21 01.45.jpg Size: 234 KB
Repetition is the Mother of Skill
  • #44,480
  • Nov 21, 2014 3:54am Nov 21, 2014 3:54am
Quoting Pipsta972
Missed EJ move. Entered GJ on M15. Broke structure and TDI's looked great. Got stopped out at BE - as usual, I sadly have to add. It's my pattern. Set my trade manager to BE at 20 pips. {image}
i get that you want to set your trade at BE to minimize the risk as soon as possible because i do the same too on every trade.
the only problem however is 20 pips is small and most times is good only for the slow moving crosses.
for yen crosses you need more than 20 most time because of how fast it moves, i usually go with 30-50 pips before i set BE.
you really need to have a bit more trust on the system you know. We play the probability here; and when you know you will win 70% of the time.
you just need to sit back and not try to sabotage it by giving the trade no breathing room.
Daniel
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