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Trading Made Simple

  • #46,141
  • Dec 9, 2014 9:53am Dec 9, 2014 9:53am
Quoting Ballistical
Had one of those days... Took an early entry once LO candle moved down, on the basis that FO had formed a pin bar like yesterday and the TDI had already crossed. Price came within 3 pips of my 50 pip TP following LO. Got stopped out at BE on the retracement only for price to blow straight through my original 50 pip TP (marked by the aqua line on my chart) Still happy with my method and discipline though. No more trades for me until LO tomorrow. Nice trades from everyone else including some big winners from Likica and Vladbold! ...
Ballistical,

That happens to the best of us
You are a very good trader by the way!
sj
  • #46,142
  • Dec 9, 2014 9:57am Dec 9, 2014 9:57am
Quoting snarlyjack
{quote} Nods, Your welcome! I think the guppy's are excellent. To save yourself some money, Their is no need to purchase their system. You basically have the system! What I would do, is get very good at trading the this system. Remember that the system is only 30% of your success. The other 70% is your trading psychology, money management and fine tuning what you are doing! Practice, practice, practice... I would watch the Dots video's at Compass Fx... to get really dialed in. sj
Thanks, might keep the XBOX one on my shopping list instead then,

Those videos are great.
Intelligence is the ability to adapt to change. Stephen Hawking
  • #46,143
  • Dec 9, 2014 9:59am Dec 9, 2014 9:59am
Quoting Landline
{quote} Thanks SJ I'm not familiar with the Dots method, so I can't comment on that. I use AutoFib Trade Zones (the red and grey zones on the chart) and these act as my ob and os or s&r areas and where a reversal is most likely to occur if indeed it does. Anyway, for now, I shall be using the cross system of the Price and Gann Lines (with candle colur change) and the TDI cross to confirm, in the knowledge that the best moves are likely to occur at the zones. Maybe the PAC and Guppies will help me once I get a proper handle on how they react as you...
Landline,

Your most welcome!

sj
  • #46,144
  • Dec 9, 2014 10:01am Dec 9, 2014 10:01am
Quoting nods80
{quote} Thanks, might keep the XBOX one on my shopping list instead then, Those videos are great.
Nods,

I would, the new xbox's are awesome and much more fun!

sj
  • #46,145
  • Dec 9, 2014 10:05am Dec 9, 2014 10:05am
Quoting MrAussieFX
I was looking for the setups on daily charts this morning (AEST) and spotted GA weekly setup. GA Weekly Trade {image} GA Weekly PT and SL {image} The trade went like this 1. I usually enter 2 trades (Buy or Sell) both same size when the right setup develops. 2. 1st Profit target is set to nearest support/resistance (always look left) 3. SL can be set equal to 1st TP or final TP (if you know your final TP before taking the trade) 4. If you are monitoring the trade, as soon as your 1st TP got hit move your SL to BE plus spread I learnt this money...
MrAussieFx,

I like how you trade!
Your dialed in
sj
  • #46,146
  • Dec 9, 2014 10:20am Dec 9, 2014 10:20am
Quoting Landline
{quote} Thanks SJ I'm not familiar with the Dots method, so I can't comment on that. I use AutoFib Trade Zones (the red and grey zones on the chart) and these act as my ob and os or s&r areas and where a reversal is most likely to occur if indeed it does. Anyway, for now, I shall be using the cross system of the Price and Gann Lines (with candle colur change) and the TDI cross to confirm, in the knowledge that the best moves are likely to occur at the zones. Maybe the PAC and Guppies will help me once I get a proper handle on how they react as you...

Hi Landline

Here is the link - http://www.compassfx.com/video/ip/111914/111914.html

  • #46,147
  • Dec 9, 2014 10:25am Dec 9, 2014 10:25am
Here's one with some really useful info on TDI reversals and ADR,

http://www.compassfx.com/video/ip/111011/111011.html

http://www.compassfx.com/video/flash/80311/80311.html
Intelligence is the ability to adapt to change. Stephen Hawking
  • #46,148
  • Dec 9, 2014 10:30am Dec 9, 2014 10:30am
Hi all

AU 4hr chart attached showing entry.

Trade based on Price line (white) crossing Gann line (black), in the OS zone, with candle colour change, all confirmed by TDI cross

Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSDH4.png Size: 22 KB
  • #46,149
  • Dec 9, 2014 10:32am Dec 9, 2014 10:32am
Quoting Ballistical
Had one of those days... Took an early entry once LO candle moved down, on the basis that FO had formed a pin bar like yesterday and the TDI had already crossed. Price came within 3 pips of my 50 pip TP following LO. Got stopped out at BE on the retracement only for price to blow straight through my original 50 pip TP (marked by the aqua line on my chart) Still happy with my method and discipline though. No more trades for me until LO tomorrow. Nice trades from everyone else including some big winners from Likica and Vladbold! ...
Just thought fro future trades if they do the same, and shows weakness, ie exit before a reversal or BE trade

At the time of taking the trade, pullback candle and M15 divergence as well, was good setup at LO, I took the new candle and closed for +12 pips, my entry was a bit late tho, reasons for exiting the trade is a trend line was forming, that might do things as u know, reverse the trade or forms retracement, that retracement is enough to mess up with the trade, just search for these trend-line while forming especially at LO

If shows weakens at that stage, then you can plan an early exit

So basically PA hits forming trend-line that convergence with 38.2 fibs as well as support, might be minor support, not obvious tho, but most of the time when TL forming , if you find a support or resistance that convergence with major fibs level, you can anticipate an exit, reversal, even before the trend line is fully emerged
Attached Image (click to enlarge)
Click to Enlarge Name: TL.jpg Size: 344 KB
I Have Learned to Take Some Losses to Make Profits
  • #46,150
  • Dec 9, 2014 10:37am Dec 9, 2014 10:37am
Afternoon everyone.

I managed to leave this one on a bit today. A benefit of having to be in the day job. I'm still struggling with exits if anyone can point me in the right direction it would be appreciated.

Thank you again for all the advice.

Attached Image (click to enlarge)
Click to Enlarge Name: 09.12.14.png Size: 42 KB
  • #46,151
  • Dec 9, 2014 10:38am Dec 9, 2014 10:38am
Quoting snarlyjack
{quote} Adikashyap, Nice meeting you! You are correct the guppy system has two sets of Ma's. The short term traders & the long term investors. I trade using the pac (price action channel). Imho the pac shows me more information than the short term guppy's. The pac gives you entry/exit signals & value points. The short term guppy's will not show you entry/exit or value points. If you put the pac on your chart along with the short term guppy's you will see they are almost exactly the same. But displayed differently. The pac shows both short term traders...
You mean ... You use medium term / long term Guppy only ... In other words, You use Guppy to tell you the medium / long term trend, whereas you rely on PAC for the immediate zones to take trades ... And what are your values for PAC?
And somewhere you mentioned about 2% on each trade .. 2% on what leverage? On an equity of, say, 10,000$ .. on a 100 leverage 2% is 200$ ... but on a, say, 500 leverage it becomes 1000$ .... and what about the profit and the loss, there of?
I believe, as you also mentioned in lots of posts ... that Trading is more about the Psyche of the trader ... This being the case, what motivation will I have if I keep trading mini lots?
Rather than having trade based MM, what if I have equity based MM?
For example, on an equity of 10,000$, my RMS (Risk Management Strategy) is 20% ... meaning I'm ready to loose 2,000$ ... Should not I trade full lots? I do not think I will loose 4 trade consecutively to loose all 2000$ ...
I'm so very sorry, if I'm asking something not very related to TMS .... But all helpful mentors / seniors are all ... seemed to be available only on TMS ...
  • #46,152
  • Dec 9, 2014 10:40am Dec 9, 2014 10:40am
Quoting Ballistical
Had one of those days... Took an early entry once LO candle moved down, on the basis that FO had formed a pin bar like yesterday and the TDI had already crossed. Price came within 3 pips of my 50 pip TP following LO. Got stopped out at BE on the retracement only for price to blow straight through my original 50 pip TP (marked by the aqua line on my chart) Still happy with my method and discipline though. No more trades for me until LO tomorrow. Nice trades from everyone else including some big winners from Likica and Vladbold! ...
Just plain bad luck man, but no losses is still good!

You're still well up this week.
  • #46,153
  • Dec 9, 2014 10:51am Dec 9, 2014 10:51am
Quoting adikashyap
{quote} You mean ... You use medium term / long term Guppy only ... In other words, You use Guppy to tell you the medium / long term trend, whereas you rely on PAC for the immediate zones to take trades ... And what are your values for PAC? And somewhere you mentioned about 2% on each trade .. 2% on what leverage? On an equity of, say, 10,000$ .. on a 100 leverage 2% is 200$ ... but on a, say, 500 leverage it becomes 1000$ .... and what about the profit and the loss, there of? I believe, as you also mentioned in lots of posts ... that Trading is...
Adikashyap,

For the long term trend I use the 200 ema/close.
For the medium term trend I use the long term guppy's (ema/close, 30,35,40,45,50,55,60).
For the short term trend I use the pac ( 5 smoothed hi, low).
I use Lastingwells s/r sup/dem indicator for levels.
I use the Tdi indicator to gage the market & look for crosses.
Trend, levels & tdi...

Before I up the "bet" I would practice, practice, practice and get really dialed in.
You need to know exactly what your doing...so that when different things happen
in the market, you handle them correctly. Your trading psychology is super important!
Trading psychology is more important than most people think...

sj
  • #46,154
  • Dec 9, 2014 11:12am Dec 9, 2014 11:12am
Quoting nods80
{quote} Exactly the same thing happened to me in EURNZD. So annoying. Could 50+ if had an extra 15 to my sl.
Frustrating as it is you did the right thing in stopping the trade at BE.

I have heard many seniors in this thread quote the following:

"Never let a winner turn into a loser" & "Manage the losses and the winners will manage themselves"
Focus on the process and the profits will follow
  • #46,155
  • Dec 9, 2014 11:14am Dec 9, 2014 11:14am
Quoting snarlyjack
{quote} Ballistical, That happens to the best of us You are a very good trader by the way! sj
That is high praise SJ!

I am only learning from all the guidance offered by yourself, Big E, Phx62 and everyone else contributing in here.

Thanks again for all you support!
Focus on the process and the profits will follow
  • #46,156
  • Dec 9, 2014 11:20am Dec 9, 2014 11:20am
Quoting TheScorpS
{quote} Just thought fro future trades if they do the same, and shows weakness, ie exit before a reversal or BE trade At the time of taking the trade, pullback candle and M15 divergence as well, was good setup at LO, I took the new candle and closed for +12 pips, my entry was a bit late tho, reasons for exiting the trade is a trend line was forming, that might do things as u know, reverse the trade or forms retracement, that retracement is enough to mess up with the trade, just search for these trend-line while forming especially at LO If shows...
Thanks for the detailed analysis Scorps!

I must admit I don't tend to use trend lines or divergence as much as I possibly should.

I wasn't sure how far down price would move since it was a counter trend move, however, given that price made a very similar pattern as yesterday, I entered early.

I thought about exiting early but have so many times been tricked into exiting only to see price go back in my direction. Recently I have been setting my SL, TP etc. and walking away to let the trades play out as advised by SJ (I know he trades longer TF's).
Focus on the process and the profits will follow
  • #46,157
  • Dec 9, 2014 11:24am Dec 9, 2014 11:24am
Quoting snarlyjack
{quote} Adikashyap, For the long term trend I use the 200 ema/close. For the medium term trend I use the long term guppy's (ema/close, 30,35,40,45,50,55,60). For the short term trend I use the pac ( 5 smoothed hi, low). I use Lastingwells s/r sup/dem indicator for levels. I use the Tdi indicator to gage the market & look for crosses. Trend, levels & tdi... Before I up the "bet" I would practice, practice, practice and get really dialed in. You need to know exactly what your doing...so that when different things happen in the market, you handle them...
Thanks a ton SJ ... Take a bow ....
Your spirit ... between the lines ... conveyed a lot ....
Though I was not contributing in the thread ... I was going through all your posts along with posts by Phx62, Lastingwell, TheScorpS, Omonisha, Bizzzle, Direwolf, Emmanuel, MrAussiefx .... The notes I have made itself should be bigger than Bible ....
Will start posting my live charts very soon ....
Big E should be really very proud you guys ... for carrying his thread, legacy and education ...
Thank you all for all selfless support .... God bless you all .....
  • #46,158
  • Dec 9, 2014 11:27am Dec 9, 2014 11:27am
Quoting Vladbold
{quote} Just plain bad luck man, but no losses is still good! You're still well up this week.
Can't be too disappointed with BE....

Trading EA H1 alone at LO over the last two weeks on EA H1 have given me:

9 Trades in total:
5 Winners - (260 pips total)
4 BE
0 Losses

I could only dream of results like that 6 months ago...

Congrats on your 100 pip block-buster this morning!!
Focus on the process and the profits will follow
  • #46,159
  • Dec 9, 2014 11:28am Dec 9, 2014 11:28am
Quoting Ballistical
{quote} Can't be too disappointed with BE.... Trading EA H1 alone at LO over the last two weeks on EA H1 have given me: 9 Trades in total: 5 Winners - (260 pips total) 4 BE 0 Losses I could only dream of results like that 6 months ago... Congrats on your 100 pip block-buster this morning!!
Fantastic Ballistical - hope to be like you in 6 months!
  • #46,160
  • Dec 9, 2014 11:57am Dec 9, 2014 11:57am
Got up a bit earlier today, got in 2 1htf trades during NY.
both trades taken close to NY+1

GA +49 pips
GN +41 pips
total 91 pips because of decimals....
i will usually shoot for 50 pips at least but i blame this on me 1/2 awake at the time (6-7AM) i was setting this
not TDI cross, just continuation based on PA with some help from TDI bounce as well.
no idea why price moves that quickly to hit tp, so i'll just be happy
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GBPAUDH1.png Size: 74 KB
Click to Enlarge Name: GBPNZDH1.png Size: 73 KB
Daniel
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