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Trading Made Simple

  • #45,341
  • Dec 1, 2014 4:35am Dec 1, 2014 4:35am
Quoting bigcakex
GBPUSD H1. 50pips by TP..but it was 31 pips againest my trade; so ancious. I am learning to usd the TDI system ,Can anyone give me some suggestion? {image}
First of all, you have wrong set session boxes. London opens on 1 hour later than on your chart. So that was Frankfurt open candle on GU. Also you may know that very often FO and LO candles can be fakey candles, so you have to be careful and wait for a good confirmation to enter on them. Another thing you should do is always put a SL when you enter the trade. You were lucky to get +50 from GU trade but you should had SL somewhere. I don't see on your chart if you had it or not. So that's my advice. And the main thing to understand the system is to do a lot of backtests. Choose 1-2 pairs and concentrate on them at first if you want to trade H1. Later you can add few pairs more, but to learn is better on 1-2 pairs and not more. That's enough for H1 to have few good signals a day, believe me.
Also i had almost the same entry on EUR/AUD today, but i exited with +18, because of unpredicted market today's morning. But that was first London candle, not the second as on your chart. That happens, BE trades are better then loss ones. Entry was good, so keep going and keep learning!
  • #45,342
  • Dec 1, 2014 4:45am Dec 1, 2014 4:45am
So far didn't see any setup that is comfortable to pull the trigger... Seem like the 4hr trend is different from the daily trend.
For me... No Trade is the best trade...

USDCAD - awaiting for suitable Long entry.
EURUSD - awaiting for suitable Short Entry
  • #45,343
  • Dec 1, 2014 4:53am Dec 1, 2014 4:53am
Quoting erelation
So far didn't see any setup that is comfortable to pull the trigger... Seem like the 4hr trend is different from the daily trend. For me... No Trade is the best trade... USDCAD - awaiting for suitable Long entry. EURUSD - awaiting for suitable Short Entry
You did something extremely beautiful, you didn't shoot.
This is better than a closed gain, it teaches you much more.

If you pick a "weak signal" and you shoot anyway, and by luck it goes in profit, you will tell yourself it was a strong signal, but that's not true.
So, EXACTLY WHAT YOU DID is way better as you understood it wasn't a good signal for you, good - stay out and wait next one ...

Sun Tzu — 'If you wait by the river long enough, the bodies of your enemies will float by.'
Lorenzo
  • #45,344
  • Dec 1, 2014 4:55am Dec 1, 2014 4:55am
Hi ToledoFX and Lorbax

Im now really confused - Im in but the next 4hr candle is so far away Im quite worried - how do you cope!! What SL do you think I should add in? 1.57?
  • #45,345
  • Dec 1, 2014 5:05am Dec 1, 2014 5:05am
Quoting toledoFX
{quote} First of all, you have wrong set session boxes. London opens on 1 hour later than on your chart. So that was Frankfurt open candle on GU. Also you may know that very often FO and LO candles can be fakey candles, so you have to be careful and wait for a good confirmation to enter on them. Another thing you should do is always put a SL when you enter the trade. You were lucky to get +50 from GU trade but you should had SL somewhere. I don't see on your chart if you had it or not. So that's my advice. And the main thing to understand the system...
Hi,toledoFX
Vice nice to read your advice ,and i changed the session boxes as you said .
I had a 50 pip SL when i entered the trade.so when the price againest me about 31 pips ,i was so worry about the SL,and wanted to close the trade because the pullback, but i see the Month low S/R near the price ,so i stayed in the trade unless PA break blow it .
i really feel good in this thread ,everyone is friendly and in patience
  • #45,346
  • Dec 1, 2014 5:08am Dec 1, 2014 5:08am
Quoting twellve
Hi ToledoFX and Lorbax Im now really confused - Im in but the next 4hr candle is so far away Im quite worried - how do you cope!! What SL do you think I should add in? 1.57?
Don't be confused, stay simple .... Is it a trade along with the main big trend ?

  1. yes = I expect a longer run, check S/R for SL and TP you should find something around 50-60 SL and 70-80 for TP (just an idea)
  2. no = I reduce those ranges to 30-40 for TP ... maybe I need to keep SL quite large

​
If it's a yes you will have R:R quite high, from 1:1 to 1:2 ... or something like that, while if it's a no, you will have maybe 1:0.50, it's good too.
Once it reaches +20 or +30 pips ... you set your SL to BE+2 and if you like, you can closed half of position, or a part , and let the rest run.

I did this ... my position was quite big for my normal sizing, I closed a portion at +20, one at +18 (set SL to BE) , one +30 , and one +35 ... i'm letting run the rest.

Attached Image


This is just what I did and what works for me, I'm not saying you need to do the same, or that I always do this ... it depends a bit.
Now I don't see GU super strong up, it ran already quite a bit, and I entered on the second H4 candle, so you know , I wanted to be more conservative.


hope it helps
Lorenzo
  • #45,347
  • Dec 1, 2014 5:12am Dec 1, 2014 5:12am
Quoting lorbax
{quote} Don't be confused, stay simple .... Is it a trade along with the main big trend ? yes = I expect a longer run, check S/R for SL and TP you should find something around 50-60 SL and 70-80 for TP (just an idea) no = I reduce those ranges to 30-40 for TP ... maybe I need to keep SL quite large ​ If it's a yes you will have R:R quite high, from 1:1 to 1:2 ... or something like that, while if it's a no, you will have maybe 1:0.50, it's good too. Once it reaches +20 or +30 pips ... you set your SL to BE+2 and if you like, you can closed...
  • #45,348
  • Dec 1, 2014 5:16am Dec 1, 2014 5:16am
GBP rally :-)
Attached Image (click to enlarge)
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  • #45,349
  • Dec 1, 2014 5:20am Dec 1, 2014 5:20am
Quoting twellve
Hi ToledoFX and Lorbax Im now really confused - Im in but the next 4hr candle is so far away Im quite worried - how do you cope!! What SL do you think I should add in? 1.57?
Hi Twellve! Lorbax gave you a really nice advice. It's hard for me to advice you something because i don't see your entry and i have no idea what's going on with your trade. But all i can say, that if you trade H4 you should have a lot of patience. Here are some really good H4 traders and you can learn from them. If you enter a trade, don't hurry, don't put you SL too tight. Patience and confidence. You took that trade, it means you had reasons to take it, right? So trust yourself and trust your system. If you feel you made a mistake, then it's better to cut your loss and move on. Have a plan and follow it, if you know that it works.
  • #45,350
  • Dec 1, 2014 5:46am Dec 1, 2014 5:46am
Quoting bigcakex
{quote} Hi,toledoFX Vice nice to read your advice ,and i changed the session boxes as you said . I had a 50 pip SL when i entered the trade.so when the price againest me about 31 pips ,i was so worry about the SL,and wanted to close the trade because the pullback, but i see the Month low S/R near the price ,so i stayed in the trade unless PA break blow it . i really feel good in this thread ,everyone is friendly and in patience
You are welcome! Also if you want to trade H1 successfully, you should read all posts of Phx62. He's a fantastic H1 trader. There is so much to learn from him, you can't even imagine.
I attach some selections of his posts in pdf, which another traders shared here before. In studies I, II, III there are Phx's posts since 2011. You can find more selections in the paperclip on this thread. But it's better if you open his profile and read his posts by yourself. Good luck!
Attached File(s)
File Type: pdf PCRF.pdf   764 KB | 1,663 downloads

Attached File(s)
File Type: pdf Phx_2014-04 (First Half).pdf   1.8 MB | 1,182 downloads

Attached File(s)
File Type: pdf Phx62 study I.pdf   6.2 MB | 1,695 downloads

Attached File(s)
File Type: pdf Phx62 study II.pdf   4.9 MB | 1,424 downloads

Attached File(s)
File Type: pdf Phx62 study III.pdf   2.9 MB | 2,105 downloads
  • #45,351
  • Dec 1, 2014 6:02am Dec 1, 2014 6:02am
I am watching usdcad Monthly tf. Price is in a congestion zone and It has hit the monthly piviot. tdi and stochs are turning. All lower TF's have turned (just waiting on daily). Could retrace back to 1.07.

What are your thoughts?

Attached Image (click to enlarge)
Click to Enlarge Name: usd cad.PNG Size: 54 KB
Intelligence is the ability to adapt to change. Stephen Hawking
  • #45,352
  • Dec 1, 2014 6:05am Dec 1, 2014 6:05am
Quoting nods80
I am watching usdcad Monthly tf. Price is in a congestion zone and It has hit the monthly piviot. tdi and stochs are turning. All lower TF's have turned (just waiting on daily). Could retrace back to 1.07. What are your thoughts? {image}
No need to a trend change .. itīs year end rally .
As long as you donīt have a valid signal , the market is monthly long .
In my case , Iīm not intrested in monthly charts .. or yearly..
I only enter in h4 and very rare a daily entry.
I īll give a look for the next higher tf for a confirmation , to know what to expect .. ( with the trend I can expect a larger TP )
Trend is great , but also a " counter " is okay for me .. , I take them all ..

Guido
Risiko birgt immer auch die Chance.
  • #45,353
  • Dec 1, 2014 6:11am Dec 1, 2014 6:11am
Thanks Lorbax and TeledoFX for great advice - I worry as I am really new, I dont have the right level of stop loss - too small normally, I have never broke the trade down but a great idea - I will do in future

I got in at 1.57 and SL took me out - will get back in at next 4h candle
  • #45,354
  • Dec 1, 2014 6:17am Dec 1, 2014 6:17am
Quoting Sesamstrasse
{quote} No need to a trend change .. itīs year end rally . As long as you donīt have a valid signal , the market is monthly long . In my case , Iīm not intrested in monthly charts .. or yearly.. I only enter in h4 and very rare a daily entry. I īll give a look for the next higher tf for a confirmation , to know what to expect .. ( with the trend I can expect a larger TP ) Trend is great , but also a " counter " is okay for me .. , I take them all .. Guido
  • #45,355
  • Dec 1, 2014 6:19am Dec 1, 2014 6:19am
Quoting Sesamstrasse
{quote} No need to a trend change .. itīs year end rally . As long as you donīt have a valid signal , the market is monthly long . In my case , Iīm not intrested in monthly charts .. or yearly.. I only enter in h4 and very rare a daily entry. I īll give a look for the next higher tf for a confirmation , to know what to expect .. ( with the trend I can expect a larger TP ) Trend is great , but also a " counter " is okay for me .. , I take them all .. Guido

Thanks mate. wasn't thinking of taking the trade anytime soon. I'm gonna keep this in eye shot. I think if the signal appears on the monthly chart could turn into a good long term trade.
Intelligence is the ability to adapt to change. Stephen Hawking
  • #45,356
  • Dec 1, 2014 6:22am Dec 1, 2014 6:22am
Quoting twellve
Thanks Lorbax and TeledoFX for great advice - I worry as I am really new, I dont have the right level of stop loss - too small normally, I have never broke the trade down but a great idea - I will do in future I got in at 1.57 and SL took me out - will get back in at next 4h candle
to me, it doesn't sound like a great idea, as it will be the 3rd candle .... and it ran already quite a bit. JMHO.
Lorenzo
  • #45,357
  • Dec 1, 2014 6:28am Dec 1, 2014 6:28am
Quoting nods80
{quote} Thanks mate. wasn't thinking of taking the trade anytime soon. I'm gonna keep this in eye shot. I think if the signal appears on the monthly chart could turn into a good long term trade.
If you plan to trade weekly signals, itīs important , of course!

all my trades will be executed end of week , so I donīt watch " too many informations"
IMO : Less is more ,as simple as better !
I never make things more complicated than needed and it works fine with me .

I donīt like to have too many trades open at the same time and manage them .
Guido
Risiko birgt immer auch die Chance.
  • #45,358
  • Dec 1, 2014 6:31am Dec 1, 2014 6:31am
Quoting nods80
I am watching usdcad Monthly tf. Price is in a congestion zone and It has hit the monthly piviot. tdi and stochs are turning. All lower TF's have turned (just waiting on daily). Could retrace back to 1.07. What are your thoughts? {image}
Thanks nods80 (structurally, I see a nice 5-wave move on the D and (fractal) higher TFs, just my 2pips... LOL!!!)

EDT: unless there is an extension you have a high probability of correctness...
  • #45,359
  • Dec 1, 2014 6:32am Dec 1, 2014 6:32am
Quoting toledoFX
{quote} You are welcome! Also if you want to trade H1 successfully, you should read all posts of Phx62. He's a fantastic H1 trader. There is so much to learn from him, you can't even imagine. I attach some selections of his posts in pdf, which another traders shared here before. In studies I, II, III there are Phx's posts since 2011. You can find more selections in the paperclip on this thread. But it's better if you open his profile and read his posts by yourself. Good luck! {image} {image} {image} {image} {image}
Thanks for your reply!toledoFX
I had already read his Phx62 study I,Phx62 study II,Phx62 study III,because of his post ,i decided to trade H1,his trades were really perfect ,i can't image how he could do that so beautifully ,all of the trades were amazing....
i tried to learn from his way to find the entries ,but it is difficult for me now,i also posted him some mail ,but he didn't answer back to me .
i will read all the documents he posted again,also the PRCP&Phx_2014-04 (First Half) you given.
i am full of confidence that i can manager the system in the H1 TF.
Keep in touch!
Regards.
  • #45,360
  • Dec 1, 2014 6:33am Dec 1, 2014 6:33am
All opinions are good Lorbax - I just think I can wait to win pippage another day rather than getting in too late!
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