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Trading Made Simple

  • #45,561
  • Dec 2, 2014 8:29pm Dec 2, 2014 8:29pm
Quoting sknight1
{quote} I admire your ability Greenb. ! However, I must still be doing something wrong because every time I enter a trade, the darn thing turns against me immediately (not counting the spread). Drives me nutz. Just once I'd like to see one take off in the intended direction.
you need time to reach that stage, PA often go against the trade I think is because of late entry at most cases, in that nature, with time and enough back testing, you can certainly reach the time when you enter a trade and has minimal drawdwons, within 2-4 pips max

U need to understand timings, with TMS you would not worry about DD, only when some cases u cant help it you get to manage a less damage loss or getting a deep DD and then managing to get the trade to BE or even get it all the way to TP.
I Have Learned to Take Some Losses to Make Profits
  • #45,562
  • Dec 2, 2014 8:36pm Dec 2, 2014 8:36pm
Quoting sknight1
{quote} I admire your ability Greenb. ! However, I must still be doing something wrong because every time I enter a trade, the darn thing turns against me immediately (not counting the spread). Drives me nutz. Just once I'd like to see one take off in the intended direction.
i think one of the thing we do differently is when we enter the trade. i almost always exclusively enter -2 LO or +2 LO candle(4h candle).
i almost never trade 1h candle unless its during london market. and if i made a wrong entry and i'm still awake, i will usually hedge it by entering the opposite side, or get out and change to other side.

Greenb
Daniel
  • #45,563
  • Dec 2, 2014 8:56pm Dec 2, 2014 8:56pm
EA,H1,finally 50 pip TP hit because the au GDP news releases.
I entered it before the TDI crosses,because of the triple top and the pullback &break below the pre candle.
It took a long time to hit my TP,when it gained +21 pips ,i moved my SL to BE ,and then went to sleep .
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  • #45,564
  • Dec 2, 2014 9:05pm Dec 2, 2014 9:05pm
Quoting Greenb
{quote} i think one of the thing we do differently is when we enter the trade. i almost always exclusively enter -2 LO or +2 LO candle(4h candle). i almost never trade 1h candle unless its during london market. and if i made a wrong entry and i'm still awake, i will usually hedge it by entering the opposite side, or get out and change to other side. Greenb

Thanks Scorps.

Greenb ~ my 4H candles open right on the LO. Which is 2am for me. Then, obviously, 6am, 10am, 2pm, 6pm, 10pm.
  • #45,565
  • Dec 2, 2014 9:15pm Dec 2, 2014 9:15pm
My Trading Plan today for GBPNZD.... wait for signal to short.
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  • #45,566
  • Dec 2, 2014 9:37pm Dec 2, 2014 9:37pm
Quoting twellve
{quote} Great Trade Griff - wish i could see the charts like this!
Hi twellve, theres one simple way to do it --- practice, then practice ... oh, and then practice some more... LOL! Keep going. you'll get there if you want to
  • #45,567
  • Dec 2, 2014 9:43pm Dec 2, 2014 9:43pm
Quoting erelation
My Trading Plan today for GBPNZD.... wait for signal to short. {image}
Hi erelation,
I'm also watching the same pair. I won't be near the system to trade on lower TF (H1 or H4) but for daily this is what I expect from this pair. Market is random and your plans may fail but the vital part of your journey is that you have a plan.

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Kindest Regards
  • #45,568
  • Dec 2, 2014 9:47pm Dec 2, 2014 9:47pm
Hi MrAussieFX,

Thanks for sharing your thought....

I think it all depend on price action to see how it is reacting to the 200ema on the 4hr chart
and whether it can build up momentum.... i just waiting and watching how price move now...

Thanks...
  • #45,569
  • Dec 2, 2014 11:17pm Dec 2, 2014 11:17pm
Quoting sknight1
{quote} Thanks Scorps. Greenb ~ my 4H candles open right on the LO. Which is 2am for me. Then, obviously, 6am, 10am, 2pm, 6pm, 10pm.
just have to figure out the best trading time for you ;p
Daniel
  • #45,570
  • Dec 2, 2014 11:23pm Dec 2, 2014 11:23pm
... XAU playing up (post bull#$@t Swiss referendum) : jumped up like 800USD (...left without VIX ... LOL!). Trade safe! Did anyone say holidays/party time
  • #45,571
  • Dec 2, 2014 11:52pm Dec 2, 2014 11:52pm
Quoting snarlyjack
{quote} Hi Paddy86, Nice meeting you. If I were you I would have a conversation with myself on why I'm losing money? 1). Do you have an effective strategy? 2). Have you mastered the strategy? 3). Do you have a structured trading routine? 4). Are you trading with "scared money" or risk money? 5). Are you trading the lower time frames (5, 15, 30 minute charts)? Once you determine why your losing money, what is your plan on turning it around into profitable trading? Look at my system & don't deviate from it! Learn exactly how to trade it! Can you commit...
Thanks for your advice SJ. Sounds like it s for me
Appreciation is the key to wealth and happiness
  • #45,572
  • Dec 3, 2014 12:01am Dec 3, 2014 12:01am
Quoting griffinssoul
... XAU playing up (post bull#$@t Swiss referendum) : jumped up like 800USD (...left without VIX ... LOL!). Trade safe! Did anyone say holidays/party time
???? referendum didn't pass.
Lorenzo
  • #45,573
  • Edited 1:13am Dec 3, 2014 12:44am | Edited 1:13am
Quoting lorbax
{quote} ???? referendum didn't pass.
(a game of deception perhaps...) ...referendum was somewhat irrelevant... LOL! Certainly to XAU which would have amounted to about an hours trading or so...

That said its good to track the Market as we approach the season...
  • #45,574
  • Dec 3, 2014 1:00am Dec 3, 2014 1:00am
Quoting sknight1
{quote} So am I.... for having my SL to tight on a GN long position. Got a cross up on the watchdog indi, 4H was stepping up also. Put on a long with a SL of 25 pips.... should've been 30 pips. First image is when I put the trade on and where I had my target. Second image was taken after being stopped out only to watch the aussie news release drive the GN right up to where my target was. Would've been +50. What was it that I just said a few posts back about feeling the pain of a loss when trading for more than $1 / pip....? Well, this...
Your stop loss should have been below the swing low or at the very least below the previous candle, don't watch every tick or you will drive yourself crazy, place the trade, set your stop loss and take profit along with a trailing stop or jumping stop if you want to, and then come back in an hour and see whats happened to it.
  • #45,575
  • Dec 3, 2014 2:11am Dec 3, 2014 2:11am
Quoting sknight1
{quote} Yep, I knew that and didn't do it. The thought of a 50 pip SL almost makes me nauseous. I try to imagine trading a full lot with a 50 pip SL and can't imagine risking $500-ish on a trade. I can't stomach that yet. Probably because I'm still developing my belief in the system. Edit to add: BTW RedPheonix.... the purple / orchid down bars are indeed more soothing to the eye than red bars.
Realjumper (one of the founders of the genesis thread) used to say tight stops are false economy, better to have a large SL that never gets hit than tiny ones that constantly get hit. Just because you have a 50 pip SL, doesn't mean you should let it be taken out - you can manually bail on trades when the setup is invalidated by having a mental stop (e.g: "if this candle turns and closes from red to blue and TDI hooks, I'm out" or something similiar).
  • #45,576
  • Dec 3, 2014 2:22am Dec 3, 2014 2:22am
Quoting WDays
{quote} Realjumper (one of the founders of the genesis thread) used to say tight stops are false economy, better to have a large SL that never gets hit than tiny ones that constantly get hit. Just because you have a 50 pip SL, doesn't mean you should let it be taken out - you can manually bail on trades when the setup is invalidated by having a mental stop (e.g: "if this candle turns and closes from red to blue and TDI hooks, I'm out" or something similiar).
Hey WDays, good to see you here. I've been anticipating your feedback. Thank you.
  • #45,577
  • Dec 3, 2014 2:30am Dec 3, 2014 2:30am
Quoting sknight1
{quote} Hey WDays, good to see you here. I've been anticipating your feedback. Thank you.
Thanks and you're absolutely welcome, hope it helps
  • #45,578
  • Dec 3, 2014 2:41am Dec 3, 2014 2:41am
Quoting WDays
{quote} Thanks and you're absolutely welcome, hope it helps
It does. Greatly appreciated.
  • #45,579
  • Dec 3, 2014 2:44am Dec 3, 2014 2:44am
The entry was borderline retarded, since I had to leave before LO, so I took the short during the FF candle. In my defense at the time I couldn't have known it would be a doji

70 pip target because it seems like an average of the latest moves on the pair, also 80% ATR projection.
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  • #45,580
  • Dec 3, 2014 2:47am Dec 3, 2014 2:47am
quick short on EU H1 for 38 green
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Appreciation is the key to wealth and happiness
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