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Trading Made Simple

  • #44,601
  • Nov 23, 2014 2:24am Nov 23, 2014 2:24am
Quoting dennis4u15
Thanks everyone for the reply...I did not take a look at the news calendar that day...will make sure that I take note of trendlines and the EMAs...I thought I had a good trade on hand but there is always room for improvement and fine tuning our entries....Thanks once again to all of you. Regards Dennis
Hi dennis4u15, I've been asking every trader I know about the (red) news. There seems to be two/three groups of thought; one group, including traders like SJ say no worries ignore it - just step aside when non-farm payrolls comes around. Others say pay attention its important. The difference (as far as I can tell) is the first group trade longer TF while the second shorter like 1H. The third try and actually trade the volatility during news... . So, if you're going in for a 15M/1H scalp on the lower or even a 1H/4H trade its good to be aware of the Market Conditions. Never forget the market comes first... PA is the market come to life... red news is the market sneezing (gross!... think about it)... lol!
  • #44,602
  • Nov 23, 2014 6:07am Nov 23, 2014 6:07am
Quoting TheScorpS
{quote} Allows me to answer your ques before seniors arrvied and put thier thoughts According to the chart, there is Trend Line forming at the time for the short trade, as long as EMA 200 acting as support below that, yes there was valid sell entry but which has to be taken aggressively at the break of the hanging man candle ,, and considered to be an aggressive entry , and I would not recommend that since TL and EMA 200 was below that {image}
Hi TSS,

I like your charts and you are consistent using them. I notice the London session boxes you have on your H1 chart. Looking just at the London session boxes, it tell us that the London session make new high and new low on consecutive days. But the range was getting smaller. That is the first sign of potential change in the price structure. Note on the D chart, market has been sideways ranging but rising.

However, since you practise Elliot Wave, you can zoom out on H1 chart to see the waves better. Using Jeffrey Kennedy' method to identify price channels tracing the waves, I see the following highlighted on my H1 chart below.

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD wave projection.png Size: 135 KB


Sometimes, I feel it is better to get rid of the indicators and session boxes when we zoom out, otherwise the objects on our charts may distract us from the bigger picture.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #44,603
  • Nov 23, 2014 6:27am Nov 23, 2014 6:27am
Quoting dennis4u15
Hi Emmanuel, Lastingwell and seniors, Could u have look at the chart please...it was a good sell cross on 1hr TF...the 4hr TDI(green) was also pointing down..the APB was also red on both the TF...the cross also happened below the 50 level so there was momentum. The cross was also quite strong on the 1 hr TF...somehow it did not work. Any input will be much appreciated. Regards {image}
Hi Dennis,

When trading intraday using H1 chart we must be careful of the day events and economic data release timing.
eelfranz taught us to wait until the news release and then look for price momentum, if there is momentum we take the trade. Other wise, we stand aside and look for another currency pair to trade.

When I trade intraday, I start the day by looking first at the D1 charts and see how the previous days traded.
EU D1 chart clearly shows us it was in a range starting on the 7 Nov. You can see the D1 candles were chopping up and down on the 19Nov.
Then check the trading ranges. the ADR for past 10 days was 90pips, ADR 20 days was 92 pips, and the 100 day ADR is 73 pips. Thiis is a good sign that the daily range is increasing in the past 10 to 20 days.
The wekly range for 100-weeks is 190pips and the last 5 weeks was 228 pips, increasing. This is good range to catch the weekly high and ride the trend down to the weekly low.

But to trade this way, I do my big picture planning ahead in the week.

See my EURUSD week 47 POMO attached. Details on the charts in the pdf.
Learn to trade on the H1 chart but with the D1 and H4 charts views in sight always all in one same H1 chart.
I know its hard to do this way, but it takes some practice to view all things in one H1 chart.

Ask questions and pick my brain. This way you learn from my experience and you learn much quicker.

regards,
Attached File(s)
File Type: pdf EURUSD week 47 POMO.pdf   433 KB | 717 downloads
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #44,604
  • Edited 7:36am Nov 23, 2014 6:38am | Edited 7:36am
Quoting Harryhoudini
{quote} hi guys... Trend line breaks are very important. I use personally use 150ema, I think it grasps the price better than 200. But, always watch for trend line breaks no whatever TF you use or EMA you use..
Hi Harryhoudini,

Trading with moving averages do help us in defining our own trading rules and can help us look for high probability trading oppotunities.

But both the 150EMA and 200EMA are derived from the same price. The EMA no matter what period we use will eventually catches up with the price and that is just a matter of time.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #44,605
  • Nov 23, 2014 7:25am Nov 23, 2014 7:25am
Quoting Greenb
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..... {image}
was on short too.. glad tat i see the chart correctly.. coz at 1st it's counter trend.. but i check D1 chart then.. i decided to short GU that day..
  • #44,606
  • Nov 23, 2014 10:24am Nov 23, 2014 10:24am
hello please feel emmanuel but adr is to calculate pips gain but also use it as a stop loss? because if you give me an answer
  • #44,607
  • Nov 23, 2014 11:57am Nov 23, 2014 11:57am
Quoting dennis4u15
Hi Emmanuel, Lastingwell and seniors, Could u have look at the chart please...it was a good sell cross on 1hr TF...the 4hr TDI(green) was also pointing down..the APB was also red on both the TF...the cross also happened below the 50 level so there was momentum. The cross was also quite strong on the 1 hr TF...somehow it did not work. Any input will be much appreciated. Regards {image}
Hi Dennis, here's my 2 cents on your EU 1hr short trade that didn't work out and the clues to look for - but first I'll admit it's easy to be an expert in chart history, not so easy in real-time. Initially the trade looked an OK trade, TDI had crossed down and below 50 as you say. However, always remember that 99.9% of indicators are a consequence of price action, not the other way around. At the point of the trade the TDI was giving no indication of what was already starting to cause concern for a short trade. For this you have to look at the candles themselves. You can't see it on the chart you posted because the red vertical line you put on to show the trade entry candle obscures the candle wick. But as TheScorps mention this candle is a 'hanging man' or some people call it a pin bar. Whatever you call it it's an exhaustion candle, with a long wick down and a higher close of the 'body'. This tells you that sellers aren't having it all their own way.

The next red candle looks better and closes lower, but the lower wick doesn't reach down as low as the previous trade entry candle wick, so a higher low on the wicks. The next candle is a real warning. It closes a fair bit higher and is a doji which indicates indecision. It opens and closes at the same point and closes towards the higher end of the candle. Buyers are starting to take control. The TDI has gone flat on this candle. If I wasn't out on this candle I'd wait for the next candle and as soon as it started up and blue I'd close the trade. The TDI has turned up on this candle. If you had the Synergy PAC (price action channel) on your chart you'd see that this last blue candle entered the pac which is a signal to exit the trade. Actually the exit signal may be if it closes within the pac, but I wouldn't have waited for that myself. With the Synergy pac you only go short below the pac, long above the pac and no trades within the pac. Hope some of this helps and good luck with your trading.
  • #44,608
  • Nov 23, 2014 12:28pm Nov 23, 2014 12:28pm
Tanglewood, That was a really good explanation. You just helped me to improve my individual candle reading skills.

Many thanks.
  • #44,609
  • Nov 23, 2014 1:36pm Nov 23, 2014 1:36pm
Hello Tms,

Hey, I just wanted to say 1 thing.

It seems to me that were trading 2 -3 different styles of Tms. And, I wanted
everyone to know that is ok... Tms is a really flexible system. That's why I
really like it.

We're also trading different time frames and that changes how you look at
the market. And, that's ok also. Their is no right way or wrong way, it all
comes down to your comfort level. And in my opinion where you live. For
example the London open and the London session is in my sleep pattern.
So I've had to learn Tms on the longer time frames. But if I lived in England
or Europe I would look at the 1 hour time frame very closely.

I think what you have to keep in mind is half the world kinda lives in 1 time
zone & the other half of the world lives in another time zone. And, were
all meeting in here. With different Tms system's that work for us in our own
time zones.

So...welcome to Tms! Their are some great traders trading this system.
Learn as much from one another as you can. We have a great thing
going on here! And, I hope everyone huge success!

sj
  • #44,610
  • Nov 23, 2014 2:48pm Nov 23, 2014 2:48pm
Hello Tms,

When I look at a chart and go hmmmm.

For example the eur/usd daily chart, I see a strong down trend.
When I look at the 4 hour chart I see a down trend.
Next week is going to be weird due to Thanksgiving in USA on Thursday.
A lot of traders are going to take Wed, Thr, Fri, Sat, Sun. off (Big weekend).

But because of the strong down trend if the eur/usd retraces back up
into the pac or guppy's, I would look to short the market on a Tms short signal.

What do you see?
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EURUSDDaily.png Size: 66 KB
Click to Enlarge Name: EURUSDH4.png Size: 79 KB
  • #44,611
  • Nov 23, 2014 7:41pm Nov 23, 2014 7:41pm
Has anyone seen this on TDI MTF?
Attached Image

It looks some pairs occasionally fail retrieving data feed at higher timeframes (4H and over)....
My broker is Pepperstone.
Simplicity is the ultimate sophistication - Leonardo da Vinci
  • #44,612
  • Nov 23, 2014 8:06pm Nov 23, 2014 8:06pm
Weird, I haven't seen that happen on my charts yet. My broker is FinFX.
  • #44,613
  • Nov 23, 2014 9:22pm Nov 23, 2014 9:22pm
Quoting snarlyjack
Hello Tms, When I look at a chart and go hmmmm. For example the eur/usd daily chart, I see a strong down trend. When I look at the 4 hour chart I see a down trend. Next week is going to be weird due to Thanksgiving in USA on Thursday. A lot of traders are going to take Wed, Thr, Fri, Sat, Sun. off (Big weekend). But because of the strong down trend if the eur/usd retraces back up into the pac or guppy's, I would look to short the market on a Tms short signal. What do you see? {image} {image}
I agree we should look for short trades. Like you said we are nearing the US holidays, so there may/probably will be ranging ahead of us with most traders taking off correct? I would look to short as long as there's momentum and all other TMS rules are satisfied as well as price clearing below the low set back around the 7th of November on the 4H TF.
  • #44,614
  • Nov 23, 2014 11:06pm Nov 23, 2014 11:06pm
Quoting griffinssoul
{quote} ...Hi likica, are you sure your internet connection didn't just drop-out? ... Have a great weekend everyone... keep practicing on MrAussieFX's simulator... ... keep sharp, make good decisions... lol
thanks Griffinsoul, my internet dropped out a minute earlier, maybe that was the cause.
Appreciation is the key to wealth and happiness
  • #44,615
  • Nov 23, 2014 11:12pm Nov 23, 2014 11:12pm
Quoting 0Bid
{quote} did you login to your account from different network (cell phone different internet connection)?? do you use proxy in your home network or VPN?? check your trading history is there any trade in your list that you didn't place ?? it happened to me once that the company i was with opened a trade that I had no clue about. check with them and see what they say.
Thanks for your quote OBid. luckily, there was no trade list that I did not place. will check with fxcm about it.
Appreciation is the key to wealth and happiness
  • #44,616
  • Nov 23, 2014 11:22pm Nov 23, 2014 11:22pm
Quoting likica
{quote} thanks Griffinsoul, my internet dropped out a minute earlier, maybe that was the cause.
Yep, that sounds about right cause is takes a bit for the modem/router to resync... Ockham had a beard... lol.
  • #44,617
  • Nov 23, 2014 11:56pm Nov 23, 2014 11:56pm
Quoting AnalogKid
Not sure anymore what TDI indicator works best. I used Trade Announcer TDI but it seems to miss crosses so I switched to TDI Mtf + alerts 600. But that seems to only alert when the direction has changed as opposed to a cross and it continually moves the line whereas trade announcer never moved until the candle closed. And one with alert capability is a must, so I'll keep looking and let you know what I find. If anyone has others please post. Thanks {quote}
Thanks a lot . If I find some new indicators , I will post it.
  • #44,618
  • Nov 24, 2014 12:01am Nov 24, 2014 12:01am
Quoting Sesamstrasse
{quote} YouŽll find all attached files in the right corner , earliest to latest . Click on the staple . Guido
Thanks a lot. But I can't find it...I just see the "latest post".Could you please tell me where it is ?
  • #44,619
  • Nov 24, 2014 12:10am Nov 24, 2014 12:10am
Quoting heispark
Has anyone seen this on TDI MTF? {image} It looks some pairs occasionally fail retrieving data feed at higher timeframes (4H and over).... My broker is Pepperstone.
If you leave it open a couple of minutes then right click on it and refresh the indicator it should be ok.
  • #44,620
  • Nov 24, 2014 12:25am Nov 24, 2014 12:25am
Quoting lastingwell
{quote}If you leave it open a couple of minutes then right click on it and refresh the indicator it should be ok.
Thank you LW for your feedback. I kept opened my charts for more than 4 hours and still AJ, GA, GC 4H-1D charts don't display MTF charts properply. Refresh doesn't work either. I guess this is a bug in this indicator or it's a broker issue....
Anyway, thanks and have a nice day~
Simplicity is the ultimate sophistication - Leonardo da Vinci
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