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Trading Made Simple

  • #45,361
  • Dec 1, 2014 6:35am Dec 1, 2014 6:35am
Quoting griffinssoul
{quote} Thanks nods80 (structurally, I see a nice 5-wave move on the D and (fractal) higher TFs, just my 2pips... LOL!!!)
Hi Griffinssoul

What does 5 wave move on the D mean or is it really simple?
  • #45,362
  • Dec 1, 2014 6:37am Dec 1, 2014 6:37am
Quoting twellve
{quote} Hi Griffinssoul What does 5 wave move on the D mean or is it really simple?
Hi twellve, it is a part of Elliot Wave Theory... something that I use on the higher TFs to decided the structure of the pair... have you heard of it?

P.s. you don't need it for this method...
  • #45,363
  • Dec 1, 2014 6:49am Dec 1, 2014 6:49am
Thanks griffinssoul. Just waiting for the 4hr candle to close on audchf. Cant see many set ups today. Good day to read up and study old graphs.

Attached Image (click to enlarge)
Click to Enlarge Name: AUDCHF.PNG Size: 53 KB
Intelligence is the ability to adapt to change. Stephen Hawking
  • #45,364
  • Dec 1, 2014 6:53am Dec 1, 2014 6:53am
Quoting griffinssoul
{quote} Hi twellve, it is a part of Elliot Wave Theory... something that I use on the higher TFs to decided the structure of the pair... have you heard of it? P.s. you don't need it for this method...
Thanks GS

I havent heard of it - is there a paper in the paperclip or a post I can read - tbh its all a bit much at moment as when I think I see something - its not really there.....
  • #45,365
  • Dec 1, 2014 6:56am Dec 1, 2014 6:56am
Quoting nods80
Thanks griffinssoul. Just waiting for the 4hr candle to close on audchf. Cant see many set ups today. Good day to read up and study old graphs. {image}
...stay frosty nods80, mate, we're crouching in the jungle... if you rush out in open view you'll get slaughtered... LOL!

AChf... hmmm... wicky/bit congested... makes me nervous...
  • #45,366
  • Dec 1, 2014 6:56am Dec 1, 2014 6:56am
Good morning everyone,

It's Monday morning (6:00 a.m. my time) December 1st 2014.
Traders are starting the last month of the year and trying to position
themselves for year end (year end profit/bonus etc).

I won't be trading for a day or two. When Fxcm bought out Ibfx they
put everyone into 6 day charts. Today I'm switching to true 5 day
chart using N/Y close as the final bar for the end of the trading day.

Everything I've read over the years is that 5 day charts are more accurate
than 6 day charts. Especially for price action traders. The candles will
look different and the 4 hour candles will start at a different time. It
will get you more in sink with the market.
  • #45,367
  • Dec 1, 2014 6:58am Dec 1, 2014 6:58am
Quoting twellve
{quote} Thanks GS I havent heard of it - is there a paper in the paperclip or a post I can read - tbh its all a bit much at moment as when I think I see something - its not really there.....
Hi twellve, take your time mate ... you have come to a great thread ... I recommend learning the stuff here first and then expanding your knowledge from there... (EWT is hard to learn and even harder to use for trading signals...)
  • #45,368
  • Dec 1, 2014 7:00am Dec 1, 2014 7:00am
Quoting twellve
{quote} Thanks GS I havent heard of it - is there a paper in the paperclip or a post I can read - tbh its all a bit much at moment as when I think I see something - its not really there.....

When i'm unsure. I take an imaginary trade. Draw a line through the graph, chose an entry and exit point. I then record it in a spread sheet called 'training trades' and make a note of my reasoning behind the trade. If it goes wrong I look back and see why. Did I enter to late, against the trend, sl to short etc. The more I get right the more confident i get. The more I get wrong, the more I learn. Win, Win.
Intelligence is the ability to adapt to change. Stephen Hawking
  • #45,369
  • Dec 1, 2014 7:01am Dec 1, 2014 7:01am
Quoting snarlyjack
Good morning everyone, It's Monday morning (6:00 a.m. my time) December 1st 2014. Traders are starting the last month of the year and trying to position themselves for year end (year end profit/bonus etc). I won't be trading for a day or two. When Fxcm bought out Ibfx they put everyone into 6 day charts. Today I'm switching to true 5 day chart using N/Y close as the final bar for the end of the trading day. Everything I've read over the years is that 5 day charts are more accurate than 6 day charts. Especially for price action traders. The candles...
Hi SJ! I think the Japaneses rice traders use to have a full 6 day trading week but it never caught on in the West? Is that right? This is were the Ichimoku settings came from but are still used on the D5 trading charts...
  • #45,370
  • Dec 1, 2014 7:09am Dec 1, 2014 7:09am
Quoting griffinssoul
{quote} ...stay frosty nods80, mate, we're crouching in the jungle... if you rush out in open view you'll get slaughtered... LOL! AChf... hmmm... wicky/bit congested... makes me nervous...
lol. I want to be the hunter not the hunted. All the set ups to day seem to be counter trend. Gonna add that AUDCHF trade to my training trade book. Use today as a learning day.
Intelligence is the ability to adapt to change. Stephen Hawking
  • #45,371
  • Dec 1, 2014 7:17am Dec 1, 2014 7:17am
Quoting nods80
{quote} When i'm unsure. I take an imaginary trade. Draw a line through the graph, chose an entry and exit point. I then record it in a spread sheet called 'training trades' and make a note of my reasoning behind the trade. If it goes wrong I look back and see why. Did I enter to late, against the trend, sl to short etc. The more I get right the more confident i get. The more I get wrong, the more I learn. Win, Win.
I do the exact same thing nods80 ;-)
Repetition is the Mother of Skill
  • #45,372
  • Dec 1, 2014 7:17am Dec 1, 2014 7:17am
It took me a long time to really get a handle on my trading.

What your seeing in the market's is the ultimate form
of "Capitalism" being played out between countries
& institutions & traders.

The markets are uncontrollable! You have to trade knowing
that anything can & will happen. When your using Tms & the
system is giving off signals, you want to look at the signals
to see if it is logical action in the market. (news spike for example).

Tms is a very effective strategy. Our edge! But we have to
give each trade time to work out. I set my stop just above or
below the pac. I'm targeting tp1,tp2, tp3 or s/r levels. Then
I just let the market do it's thing & I sit back & watch. I try
not to interfere with the trade.

This is where traders psychology comes in. The more advanced
your trader psychology is the better off you will be. In my
mind the big secret to trading is your trading psychology.

Hopefully everyone will post up more trading psychology videos
because they are excellent for teaching & learning trading...
  • #45,373
  • Dec 1, 2014 7:23am Dec 1, 2014 7:23am
Quoting Pipsta972
{quote} I do the exact same thing nods80 ;-)
Great stuff - also you can take a screen shot and paste it into the log so you can see it later...
  • #45,374
  • Dec 1, 2014 7:25am Dec 1, 2014 7:25am
Quoting snarlyjack
It took me a long time to really get a handle on my trading. What your seeing in the market's is the ultimate form of "Capitalism" being played out between countries & institutions & traders. The markets are uncontrollable! You have to trade knowing that anything can & will happen. When your using Tms & the system is giving off signals, you want to look at the signals to see if it is logical action in the market. (news spike for example). Tms is a very effective strategy. Our edge! But we have to give each trade time to work out. I set my stop just...
Thanks SJ, well said!
  • #45,375
  • Dec 1, 2014 7:26am Dec 1, 2014 7:26am
Hi SJ - Im trading 26 second candles that way cant lose more than my house in a minute

I thank you for you your help on here and have a well deserved 2 days of drinking....um I mean not trading
  • #45,376
  • Dec 1, 2014 7:27am Dec 1, 2014 7:27am
Quoting griffinssoul
{quote} Great stuff - also you can take a screen shot and paste it into the log so you can see it later...

Oh really Griffinsoul!? ;-)
Repetition is the Mother of Skill
  • #45,377
  • Dec 1, 2014 7:31am Dec 1, 2014 7:31am
Kicked 3/4 out + 60 pips .. ( demo )


let the small portion run more 50 pips
Guido
Attached Image (click to enlarge)
Click to Enlarge Name: 1.12..png Size: 43 KB
Risiko birgt immer auch die Chance.
  • #45,378
  • Dec 1, 2014 7:31am Dec 1, 2014 7:31am
Quoting snarlyjack
It took me a long time to really get a handle on my trading. What your seeing in the market's is the ultimate form of "Capitalism" being played out between countries & institutions & traders. The markets are uncontrollable! You have to trade knowing that anything can & will happen. When your using Tms & the system is giving off signals, you want to look at the signals to see if it is logical action in the market. (news spike for example). Tms is a very effective strategy. Our edge! But we have to give each trade time to work out. I set my stop just...

Hi SJ are you using the synergy pro tpl? I am testing the synergy pro alert indicator that gives suggested exit points but the sl suggestions seem to be way to high?

Also Dr Tharp has some great material on trading psychology if anyone is interested.

Attached File(s)
File Type: zip Synergy Pro.zip   2.3 MB | 706 downloads
Intelligence is the ability to adapt to change. Stephen Hawking
  • #45,379
  • Dec 1, 2014 7:33am Dec 1, 2014 7:33am
Quoting Sesamstrasse
Kicked 3/4 out + 60 pips .. ( demo ) let the small portion run more 50 pips Guido {image}
Great trading!!!
  • #45,380
  • Dec 1, 2014 7:42am Dec 1, 2014 7:42am
Hi everyone
Started following this thread about a month ago having been in/out of trading for a few years with mixed results. TMS and the info by shared by experienced traders is excellent, so thank you to all.

So far my results demo trading have far exceeded any trading I have done previously though still need to improve a bit more before going live.

I have an indicator question and would be greatfull if someone has the answer. Some have an area on their charts showing horizontal grey areas of support/resistance or congestion. Which indicator is this please?

Secondly, I can upload mq4 indi's. However Metatrader 4 will not allow me to drag ea4 into the expert advisors folder - any thoughts? Or am I having a brain fade moment :-)

Thank you in advance
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