Trading Made Simple | Page 2255 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Monitor for 'Trading Made Simple' system 565 replies

Trading Made Simple the right way, and other trading lessons 334 replies

Indicators for the 'Trading Made Simple' system 343 replies

MTF Indicators for the 'Trading Made Simple' system 241 replies

Trading Made Simple system follower - Thanks to eelfranz 9 replies

Attachments: Trading Made Simple
Exit Attachments

Trading Made Simple

  • #45,081
  • Nov 26, 2014 8:33pm Nov 26, 2014 8:33pm
Quoting Greenb
{quote} in the same predicament, my finger is itching to pull the trigger on EA, but its candle #3. and its quite strong bull..... {image}
Yep, had you (we) shorted on the first candle, would've been an easy +50 on either pair. Could've very safely taken +30, conservatively.

Not a lot of momentum on either pair right now though. Slow time of day, asian session. Maybe we'll get something better at LO.

The nice part for me is, for the first time since I began "playing" the forex game two years ago, I finally "feel" like I truly know what I'm looking for on a chart. That's a nice change of pace for me.
  • #45,082
  • Nov 26, 2014 8:38pm Nov 26, 2014 8:38pm
Quoting sknight1
{quote} Yep, had you (we) shorted on the first candle, would've been an easy +50 on either pair. Could've very safely taken +30, conservatively. Not a lot of momentum on either pair right now though. Slow time of day, asian session. Maybe we'll get something better at LO. The nice part for me is, for the first time since I began "playing" the forex game two years ago, I finally "feel" like I truly know what I'm looking for on a chart. That's a nice change of pace for me.
could have, would have...dangerous thinking though.
i got into this trap last night, looking at EA that moves southward during FO, got in and price turned -35pips....never again.
and yes, not a lot of momentum, i figure tonight its only going to be EU market, once after EU its gonna be bad, low liquidity with no US market.
"I finally "feel" like I truly know what I'm looking for on a chart" 20/20 vision ?
Daniel
  • #45,083
  • Nov 26, 2014 9:00pm Nov 26, 2014 9:00pm
Quoting Greenb
{quote} could have, would have...dangerous thinking though. i got into this trap last night, looking at EA that moves southward during FO, got in and price turned -35pips....never again. and yes, not a lot of momentum, i figure tonight its only going to be EU market, once after EU its gonna be bad, low liquidity with no US market. "I finally "feel" like I truly know what I'm looking for on a chart" 20/20 vision ?

Not 20/20 vision at all... I wasn't referring to hindsight but, rather foresight. In foresight, I now know what I'm looking for in a setup. I had none of that feeling in any of my trading prior to this past week. I knew about TMS / TDI last year but, couldn't make sense of it. With a little additional explanation from some senior members here, it's beginning to click into place for me.

Can you speak a bit more about the FO...? I've read about a pre-LO spike and many successful traders state in their posts that they prefer to wait for the LO before placing any trades. Am I understanding this correctly...?
  • #45,084
  • Nov 26, 2014 9:07pm Nov 26, 2014 9:07pm
Nice Article to read (10 Forex Trading Tips for Newbies from Experienced Traders)

Read more: http://www.babypips.com/blogs/pipsyc...#ixzz3KEbc4CCW

I found it helpful, hope you it shed some light into your trading as well
I Have Learned to Take Some Losses to Make Profits
  • #45,085
  • Nov 26, 2014 9:28pm Nov 26, 2014 9:28pm
Quoting sknight1
{quote} Not 20/20 vision at all... I wasn't referring to hindsight but, rather foresight. In foresight, I now know what I'm looking for in a setup. I had none of that feeling in any of my trading prior to this past week. I knew about TMS / TDI last year but, couldn't make sense of it. With a little additional explanation from some senior members here, it's beginning to click into place for me. Can you speak a bit more about the FO...? I've read about a pre-LO spike and many successful traders state in their posts that they prefer to wait for the...
hmm, well, I'm not an expert on it or anywhere near it. i believe Phx62 or lastingwell, or emmanuel could explain it way better than me.
but essentially, FO is usually known also as Frankfurt Open or fake out time (for me). they can often times moves suddenly against primary trend to S/R level and reverse back to main trend.
i think of it as banks/brokers doing a small stop hunt before 8AM london market start for a quick profit. Of course there are times when it just moves the same way with main trend and LO continues with it.
Daniel
  • #45,086
  • Nov 26, 2014 9:37pm Nov 26, 2014 9:37pm
Quoting Greenb
{quote} hmm, well, I'm not an expert on it or anywhere near it. i believe Phx62 or lastingwell, or emmanuel could explain it way better than me. but essentially, FO is usually known also as Frankfurt Open or fake out time (for me). they can often times moves suddenly against primary trend to S/R level and reverse back to main trend. i think of it as banks/brokers doing a small stop hunt before 8AM london market start for a quick profit. Of course there are times when it just moves the same way with main trend and LO continues with it.
So, how do you manage that hour just prior to LO ? Do you kind of just take a "wait and see" approach?
  • #45,087
  • Nov 26, 2014 9:56pm Nov 26, 2014 9:56pm
Quoting sknight1
{quote} So, how do you manage that hour just prior to LO ? Do you kind of just take a "wait and see" approach?
i usually don't trade during FO. and when i do i ended up with a loss.....
so yea, i take the wait and see approach. or wait for 2h after LO when i get my new 4h candle

EDIT: to add insult to injury, EA is telling me i should have pulled the trigger.....oh well...LO it is
Attached Image (click to enlarge)
Click to Enlarge Name: EURAUDH4.png Size: 82 KB
Daniel
  • #45,088
  • Nov 26, 2014 10:09pm Nov 26, 2014 10:09pm
Quoting TheScorpS
{quote} Hi Greenb, Rotation in price is when PA hit a major support or resistance, that convergence with Fibonacci restracement or extension, and forms weakness, ie reversal zones, but that is a lot deeper scope than this thread, we trade based on that at Mr.Pip thread, even tho I don't post much there, but its where I learnt about all these cool stuff and tips , ie the ABCD formation Lets see EJ as an example , on Friday there was the bearish momentum downword, on Monday PA hits major support and rotate upward, thats first rotation, now the expectation...
Hello Mr.Scorps,

Is it possible to include in the TMS 10EMA DASHBOARD a 45 Min 10 EMA?
I want to do some scalping using the 45 min 10 EMA .
If you or anyone else out there can help.It will be greatly appreciated.
Thank you.
With God all things are possible.
  • #45,089
  • Edited 11:01pm Nov 26, 2014 10:12pm | Edited 11:01pm
So many posts, and all great to read... congrats everyone... (either winning or learning )... I was watching GU yesterday (threw in a light trade over the Asian session... got BE) after the LO, and red news (stop hunt time, right...LOL!!!)... It was in a congested state and I was waiting for an opportunity for it to break-out long - a bounce on the 1H/4H - looked good on both, and the D1 (it had retraced 61.8 on W1)... I think other TMS'ers took this so that makes you feel good Currently +47 & SL set to BE(+Comm )... (going for 90 but will place my SL under the swing low if it breaks the highs... ok, set SL to +30 under swing low...)

Quoting lorbax
{quote} I doubled my position on GU at opening of H4 bar
lorbax, double up his position as it seems this was a good trade on the 1,4H&D1 - but now it has switched to the 4H/D1 as the 1H has rolled...
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Image1.png Size: 40 KB
Click to Enlarge Name: Image2.png Size: 40 KB
  • #45,090
  • Nov 26, 2014 10:22pm Nov 26, 2014 10:22pm
Time to look out for Short opportunity for GBPUSD?
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDH4.png Size: 33 KB
  • #45,091
  • Nov 26, 2014 10:25pm Nov 26, 2014 10:25pm
Targeted news release on Aud at 12:30am today. Did analysis yesterday and previous moves were in the region of 60-90 pips so set alarm to wake up 15 mins before hand. Alarm rang and I slammed the snooze button - finally got to computer 3 mins before news release. By the time computer switched on and had my charts up, I had 30 secs to go... Brain was still fuzzy though so I was actually about 55seconds late entering 4 AU pairs. Short on EA and GA, long on AU and AN.

TDI confirmed direction, news gave momentum. So despite my less than ideal entry, according to TDI rules, it was on the open of the first candle! Found it too difficult to watch 4 pairs so closed AN and AU for BE. Finally closed for +52 and +46. There's probably more pips to be had but

a) I would expect some sort of retrace and did not want to give back pips
b) I'd like to get back to bed! Not confident enough to leave trade to run
c) Daily target reached so no need to be greedy

See you folks in a few hours.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 100 KB


Congrats on your pips Griffinsoul
  • #45,092
  • Nov 26, 2014 10:37pm Nov 26, 2014 10:37pm
Quoting mact4
Targeted news release on Aud at 12:30am today. Did analysis yesterday and previous moves were in the region of 60-90 pips so set alarm to wake up 15 mins before hand. Alarm rang and I slammed the snooze button - finally got to computer 3 mins before news release. By the time computer switched on and had my charts up, I had 30 secs to go... Brain was still fuzzy though so I was actually about 55seconds late entering 4 AU pairs. Short on EA and GA, long on AU and AN. TDI confirmed direction, news gave momentum. So despite my less than ideal entry,...
Very impressive mact4!!! This is not luck mate, so no more excuses!!! LOL! EA is looking great, as you know the Asian session is hard to trade - its like a rolla-coaster at times... I find if I have more than 2 trades I start making mistakes... Congrats
  • #45,093
  • Nov 26, 2014 10:45pm Nov 26, 2014 10:45pm
Quoting Greenb
{quote} i usually don't trade during FO. and when i do i ended up with a loss..... so yea, i take the wait and see approach. or wait for 2h after LO when i get my new 4h candle EDIT: to add insult to injury, EA is telling me i should have pulled the trigger.....oh well...LO it is {image}

I Pulled the trigger on the second candle before I went to work, Just logged and found a nice surprise edit:also long on audchf
Intelligence is the ability to adapt to change. Stephen Hawking
  • #45,094
  • Nov 26, 2014 10:50pm Nov 26, 2014 10:50pm
Quoting Greenb
{quote} i usually don't trade during FO. and when i do i ended up with a loss..... so yea, i take the wait and see approach. or wait for 2h after LO when i get my new 4h candle EDIT: to add insult to injury, EA is telling me i should have pulled the trigger.....oh well...LO it is {image}

I was just thinking the same thing.... "wow, look at the EA and GA go.... without me."
  • #45,095
  • Nov 26, 2014 10:57pm Nov 26, 2014 10:57pm
Quoting mact4
Targeted news release on Aud at 12:30am today. Did analysis yesterday and previous moves were in the region of 60-90 pips so set alarm to wake up 15 mins before hand. Alarm rang and I slammed the snooze button - finally got to computer 3 mins before news release. By the time computer switched on and had my charts up, I had 30 secs to go... Brain was still fuzzy though so I was actually about 55seconds late entering 4 AU pairs. Short on EA and GA, long on AU and AN. TDI confirmed direction, news gave momentum. So despite my less than ideal entry,...
  • #45,096
  • Nov 26, 2014 10:58pm Nov 26, 2014 10:58pm
Quoting sknight1
{quote} I was just thinking the same thing.... "wow, look at the EA and GA go.... without me."
Heads up all - us bank holiday... things seem rather jumpy @ the moment in the wake of news....
  • #45,097
  • Nov 26, 2014 11:07pm Nov 26, 2014 11:07pm
Quoting erelation
Time to look out for Short opportunity for GBPUSD?
i Agree.. Price is consollidating at a strong level and making several tops on the 1hr.. preferably we get a TDI signal crossing both TSL and MBL on the 1hr chart..
Attached Image (click to enlarge)
Click to Enlarge Name: n1.png Size: 47 KB
  • #45,098
  • Nov 26, 2014 11:11pm Nov 26, 2014 11:11pm
Quoting griffinssoul
{quote} Heads up all - us bank holiday... things seem rather jumpy @ the moment in the wake of news....
Yep. I'm hoping for a setup for LO but, I won't trade anything during NY session on Thursday or Friday here in the US. Probably most US folks will be on vacation until Monday.
  • #45,099
  • Nov 26, 2014 11:12pm Nov 26, 2014 11:12pm
Quoting sknight1
{quote} Yep. I'm hoping for a setup for LO but, I won't trade anything during NY session on Thursday or Friday here in the US. Probably most US folks will be on vacation until Monday.
  • #45,100
  • Nov 26, 2014 11:16pm Nov 26, 2014 11:16pm
Quoting moretti12
{quote} i Agree.. Price is consollidating at a strong level and making several tops on the 1hr.. preferably we get a TDI signal crossing both TSL and MBL on the 1hr chart.. {image}
Many thanks moretti12! I'm going the other way... LOL! So, I locked in 30pips just in case... ... things are still looking good on the 4H/D1 (4H is in overbought area but RSI can stay overbought for a long time... )
41 traders viewing now