Attachments: Trading Made Simple

Trading Made Simple

#45,861
Dec 5, 2014 7:09pm Dec 5, 2014 7:09pm

AcerPhoon
| Joined Nov 2014 | Status: Trader | 340 Posts

Okay guys! Thanks for the all the help here. I took some advice and traded my next trade with 2 positions. 1 first, and then the second with half the size but higher TP.
First was +80 and second hit TP at 100 Pips on EUR/USD

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#45,862
Dec 5, 2014 8:41pm Dec 5, 2014 8:41pm

sstone1013
| Joined Dec 2014 | Status: Trader | 5 Posts

I've been trading this system for about a month now with moderate success, my only question is how do we set take profit levels? Or do we need to follow the trade candle by candle and get out when the TDI starts to flatten out? Any help is appreciated.

#45,863
Dec 5, 2014 10:09pm Dec 5, 2014 10:09pm

snarlyjack
| Commercial User | Joined Feb 2008 | 1,909 Posts

Quoting AcerPhoon

Disliked

Okay guys! Thanks for the all the help here. I took some advice and traded my next trade with 2 positions. 1 first, and then the second with half the size but higher TP. First was +80 and second hit TP at 100 Pips on EUR/USD {image}

Ignored

AcerPhoon,

Nice meeting you!

You are making great progress.
The only suggestion I can make is,
(if you go to properties on your platform) you
can remove the grid lines. That will free up your eyes
and will reduce your stress.

I would also put in a 200 ema/close, so you can see
the trend.

I think your doing great. Enjoy the learning process &
demo trade until you get really good at it. Their is no rush!

sj

#45,864
Dec 5, 2014 10:14pm Dec 5, 2014 10:14pm

snarlyjack
| Commercial User | Joined Feb 2008 | 1,909 Posts

Thanks again to all the seniors on this thread for sharing your knowledge, as well as everyone else contributing to this thread!

Ballistical & ScorpS,

You guys are doing great!
Thank you for being so courteous!
sj

#45,865
Dec 5, 2014 10:17pm Dec 5, 2014 10:17pm

snarlyjack
| Commercial User | Joined Feb 2008 | 1,909 Posts

Quoting sknight1

Disliked

{quote} Indeed...! Another 100 days like today and I'll have made back my total in losses thus far. lol

Ignored

Sknight,

You are doing great! I really like your charts.

Thanks for all your help!

sj

#45,866
Dec 5, 2014 10:21pm Dec 5, 2014 10:21pm

snarlyjack
| Commercial User | Joined Feb 2008 | 1,909 Posts

Quoting Greenb

Disliked

{quote} Acer, for the 1st part of the question (multiposition), it really depends on the traders. Some people like Emmanuel, or Lorbax on his few last trades he post go with multiposition. some other traders like me just go for 1 position. It really depends on your money management. How does it work with be sl? i dont understand what you are asking about? if you mean how to get break even SL, well, put your SL on your entry price +spread. but if its Sl, for multiposition, it is yet again depends on the trader. some traders open 2 identical position...

Ignored

Greenb,

What can I say, I think your doing great!
Thanks for all your help. This was excellent advise!
Enjoy Vancouver this weekend...
sj

#45,867
Dec 5, 2014 10:27pm Dec 5, 2014 10:27pm

griffinssoul
Joined Aug 2014 | Status: Membership Terminated | 4,544 Posts

Congrats MrAussieFX, Likica, lydia, Fd7999, Sesamstrasse, AcerPhoon, Ballistical (I like your style

), sknight1 & TheScorpS (the Master) !!!

... and anyone else I missed...

#45,868
Dec 5, 2014 10:35pm Dec 5, 2014 10:35pm

griffinssoul
Joined Aug 2014 | Status: Membership Terminated | 4,544 Posts

Quoting sknight1

Disliked

{quote} I worry about NFP sending price action in the opposite direction and taking me out for BE+5. That's happened more often than I care to think about.

Ignored

Great trading sknight1! Yep, you would be simply gambling not trading the NFP...

#45,869
Edited 11:00pm Dec 5, 2014 10:50pm | Edited 11:00pm

griffinssoul
Joined Aug 2014 | Status: Membership Terminated | 4,544 Posts

Quoting snarlyjack

Disliked

Hey guy's/gal's, Here is a guppy video that I thought you might really enjoy! Lot's of good idea's in this video... enjoy sj http://www.bing.com/videos/search?q=...FC66BEF7F4B623

Ignored

Hi SJ, Thanks for the video on guppy's guppy - just had a few comments/questions. This (really?) seems to apply to stocks where there is an underlining asset, so who takes the role of the long term investors in currency? The 'compression' that he refers to is more like (or due to) a simple cross of MA's so why couldnt you simply have (for example) a 10&15 and a 100&150 EMA? Why are so many MA's needed? Perhaps this is a visual thing? Thanks mate!

EDT: Ops: just realized I was referring to MrAussieFX guppy video (but related) - thanks MrAussieFX!

#45,870
Dec 5, 2014 11:21pm Dec 5, 2014 11:21pm

snarlyjack
| Commercial User | Joined Feb 2008 | 1,909 Posts

Quoting griffinssoul

Disliked

{quote} Hi SJ, Thanks for the video on guppy's guppy - just had a few comments/questions. This (really?) seems to apply to stocks where there is an underlining asset, so who takes the role of the long term investors in currency? The 'compression' that he refers to is more like a simple cross of MA's so why couldnt you simply have (for example) a 10&15 and a 100&150 EMA? Why are so many MA's needed? Perhaps this is a visual thing? Thanks mate!

Ignored

Griffinssoul,
(I like your user name by the way)

I have traded with the guppy mma's for at least 5-6 years now.

How I use them: I think of the long term guppy's as the institutional
investors & the pac (price action channel) as the short term traders.
***The pac is better at trading signals than the short term guppy's!***

The long term guppy's are excellent for trend trades & retracement trades.
For example, price goes into the guppy's & retraces out (retracement trades)
or the long term guppy's will show a strong trend. If you look at my
eur/usd & usd/jpy charts you can see the guppy's at work showing
the way.

I like to know what the long term investors are doing. Without the long
term investors the trade will not go very far. We need the support of
the long term investors to push the trade for us. I believe that the
long term investors are watching each other through the guppy's.
Think of the long term guppy's as institutions sitting on each line.
It takes a very, very strong move to break the long term guppy's on the
daily. Not that it can't be done but it is extremely difficult. I try to
watch the long term guppy's for the strength of the trend. If I know
the guppy trend is very strong I will not trade into them. You want
to trade away from the guppy's
sj

#45,871
Dec 5, 2014 11:59pm Dec 5, 2014 11:59pm

griffinssoul
Joined Aug 2014 | Status: Membership Terminated | 4,544 Posts

Quoting snarlyjack

Disliked

{quote} Griffinssoul, (I like your user name by the way) I have traded with the guppy mma's for at least 5-6 years now. How I use them: I think of the long term guppy's as the institutional investors & the pac (price action channel) as the short term traders. ***The pac is better at trading signals than the short term guppy's!*** The long term guppy's are excellent for trend trades & retracement trades. For example, price goes into the guppy's & retraces out (retracement trades) or the long term guppy's will show a strong trend. If you look at my...

Ignored

Thanks SJ, that makes sense, certainly from a trend point of view, much like investors use the 200EMA etc for securities/commodities etc. I suppose the compression doesnt need to follow a MA cross (just a sharper change of direction) so theres good information in it. I'll keep an eye on this... Many thanks

#45,872
Dec 6, 2014 2:45am Dec 6, 2014 2:45am

fxray
| Joined Jul 2007 | Status: Trader | 246 Posts

Quoting snarlyjack

Disliked

{quote} Griffinssoul, (I like your user name by the way) I have traded with the guppy mma's for at least 5-6 years now. How I use them: I think of the long term guppy's as the institutional investors & the pac (price action channel) as the short term traders. ***The pac is better at trading signals than the short term guppy's!*** The long term guppy's are excellent for trend trades & retracement trades. For example, price goes into the guppy's & retraces out (retracement trades) or the long term guppy's will show a strong trend. If you look at my...

Ignored

Thanks for the video on the Guppys very helpful. Do I take from your charts that you use them on both 4hr & Daily now? The advice about cleaning my charts was great advice. Experimenting now between either using the Syn dotted lines for S/R levels or Supedem mod. It is right that the more you trade this TMS method especially Daily + 4hr that it starts to become almost instinctive...though i've still some way to go. Thanks for all the great input this week from all you experienced traders...I've learnt a lot plus I've undone a lot of what I thought I knew

#45,873
Dec 6, 2014 2:49am Dec 6, 2014 2:49am

sknight1
| Joined Mar 2014 | Status: Trader | 1,228 Posts

Quoting snarlyjack

Disliked

{quote} Sknight, You are doing great! I really like your charts. Thanks for all your help! sj

Ignored

Help...? What "help"....? lol

I'm still learning as well. Two years live trading and I still have not had a profitable month.
However, I feel like that will change VERY soon.

#45,874
Dec 6, 2014 3:37am Dec 6, 2014 3:37am

griffinssoul
Joined Aug 2014 | Status: Membership Terminated | 4,544 Posts

Quoting sknight1

Disliked

{quote} Help...? What "help"....? lol I'm still learning as well. Two years live trading and I still have not had a profitable month. However, I feel like that will change VERY soon.

Ignored

You can do it sknight1 !!!

#45,875
Dec 6, 2014 4:32am Dec 6, 2014 4:32am

fxray
| Joined Jul 2007 | Status: Trader | 246 Posts

Here is a question for the more experienced traders. I have posted a chart on the ESD/CHF 4hr. The daily trend is up. The last three vertical red lines indicate what i underrstand to be a valid 'with trend' entry ie: TDI cross, above DSR mean, moving away from Guppys. However the first red line (left on chart) has TDI cross, leaving the 200ema, but Guppys horizontal through the entry candle.
Question - is this first trade still valid?
Appreciate your thoughts, have a great weekend

Ray

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#45,876
Dec 6, 2014 6:06am Dec 6, 2014 6:06am

MrAussieFX
Joined Jan 2014 | Status: Trader | 635 Posts

Following up on my last Nov 1, 2014 post #43,134 the EA being bullish majority of the time in November moved roughly 520 pips from 1.42288 to 1.47500(as of today). I believe most of us had some great greens in our accounts.

As mentioned before my focus is mainly on NY candle close (daily candle) now and although I did my analysis on EA for November but due to work and sleep, I couldn't trade according to my own analysis.

Here is EA analysis for the next week.(This is for reference only and not a trade recommendation)
Small Guppy's MA is actually PAC in actual trading.

EA monthly

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EA Weekly

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EA Daily

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I'll be looking for potential Buy entries on this pair this coming week.

The Guppy videos helped me to look at the market in very different way and that is reflected in the above analysis. Rather than looking at what PA is doing I better try to see what traders and investors are doing, where are they taking the PA, what are they trying to test (200 EMA, Round numbers, Previous structure on the left etc.).

Although, Guppy's MA, 200EMA, RN's, Structure support resistance alone cannot guarantee the potential profitable entry/exit. This is where we use the TDI and TDI alone.

Please feel free to comment, suggest and leave your analysis on the above charts.

#45,877
Dec 6, 2014 6:46am Dec 6, 2014 6:46am

MrAussieFX
Joined Jan 2014 | Status: Trader | 635 Posts

Quoting fxray

Disliked

Here is a question for the more experienced traders. I have posted a chart on the ESD/CHF 4hr. The daily trend is up. The last three vertical red lines indicate what i underrstand to be a valid 'with trend' entry ie: TDI cross, above DSR mean, moving away from Guppys. However the first red line (left on chart) has TDI cross, leaving the 200ema, but Guppys horizontal through the entry candle. Question - is this first trade still valid? Appreciate your thoughts, have a great weekend Ray {image}

Ignored

Hi Ray,
I'm not experienced but would like to share my view on the chart. I believe others with more knowledge can give you more accurate explanation of your trade entry.
Ignoring the factors such as news pushed the price, ADR of the pair etc. I would like to go straight to the point that MA's are slow and react according to the PA which is moved by traders (PAC in your case) moves fast and institutions (Guppy MA in your case) moves slow.

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Even if your 1st (vertical line) trade entry was counter trend entry it has some good factors behind it and we should always have a valid justification for our entry or exit.
1. Previous 18-20 candles got stuck between 200 EMA, PAC, DSR (resistance) and Guppy MA. So the break on the either side will determine your entry short or long confirmed only by TDI (This is why we use TDI with al the Guppy MA and other fancy things)
2. Luckily, strong Bullish(trade setup) candle rejected from 200 EMA and closing outside PAC appears on the chart which can be your entry candle too.
3. But if you want more conservative approach and more solid base to enter wait for the (trade entry candle) to close above previous DSR resistance line, green to move above 50 line and always, always, always enter on the candle close.
4. There are many things that we can see on offline charts and can argue this could have been done and that could have been achieved but in live charts it is hard to see those things such as in your chart MBL trying to slope up, guppy MA going flat showing weakness in selling USDCHF on H4 etc. but what you can see on the live charts when you try to enter on the close of the candle is amazing (like the red got flat on MBL and as soon as green crossed it all your TDI conditions were met giving you an opportunity to enter long).

I hope, I have answered your question.

Kindest Regards

#45,878
Dec 6, 2014 6:52am Dec 6, 2014 6:52am

TheScorpS
Joined Nov 2012 | Status: Trader | 2,339 Posts

Ballistical

Good week after all, very good management, and thanks for sharing

I have totally forgot about the tip that Euro pairs tends not to move before major announcement , thanks for reminding , I need to dig into phx62 to find this reference, cause I read it somewhere in the books

I Have Learned to Take Some Losses to Make Profits