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Trading Made Simple

  • #46,861
  • Dec 15, 2014 4:40pm Dec 15, 2014 4:40pm
Hi Guys,

Just needed some input on this EA long that didn't work. The Tdi cross on 30 minute was good and the Tdi was also hooking on 1 hr time frame...the size of the 2 candles on 30 minute time frame was also good..The only reason I got was that it could be a fake move at Frankfurt open. Could the pros take a look and advice please.

Regards
Dennis
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  • #46,862
  • Dec 15, 2014 6:13pm Dec 15, 2014 6:13pm
Quoting adikashyap
{quote} I remember Phx62 mentioning ... not to enter the same trade ... same day ... If not for absolute confirmation .... Was not feeling Absolute with AU (what witha Red NEWS due in next 8 hours) ... Went with GU ... We are all here for the same ... Green Pips ... Irrespective of the pairs ... TF's ... I have decided to retire from my professional life in next 6 months ... So I do take all education ... in this thread very seriously ... Its my retired life at the end of the day ..
Adikashyap,

I think we have given excellent advice to how to trade.
I would take it slow and really learn how to trade. Just
stick to this 1 system & don't deviate from it!
Learn, practice & absorb it (like the back of your hand)!
sj
  • #46,863
  • Dec 15, 2014 6:15pm Dec 15, 2014 6:15pm
Quoting redcloudxlll
Good Morning Guys!!! Excited for getting on this thread, I see you guys are off to a great start. Because of work I'm unable to look at charts at the moment but definitely great trades I see you guys have taken. I'm starting off with 1k account and hope to build on it little by little. I will post my charts and my first trade later on tonight once I find the right setup. I read up alot this weeked. and again i appreciate everyone here that's helping each other out. Thanks SJ again for your help last week I read up alot and have my indicators all...
Redcloud,

Learn, practice & go for it!
That's what I did & it worked out great!
sj
  • #46,864
  • Dec 15, 2014 6:20pm Dec 15, 2014 6:20pm
Quoting snarlyjack
{quote} Adikashyap, I think we have given excellent advice to how to trade. I would take it slow and really learn how to trade. Just stick to this 1 system & don't deviate from it! Learn, practice & absorb it (like the back of your hand)! sj
Thanks a ton buddy ... You are always there ... whenever one needs a guidance ... Be rest assured I'm not deviating either from this system nor from the enormous education I keep getting here ......
  • #46,865
  • Dec 15, 2014 6:36pm Dec 15, 2014 6:36pm
Hello SJ could u please look at my previous post and advice me on that...will be very much appreciated.

Regards
Dennis
  • #46,866
  • Dec 15, 2014 6:52pm Dec 15, 2014 6:52pm
Quoting dennis4u15
Hello SJ could u please look at my previous post and advice me on that...will be very much appreciated. Regards Dennis
Dennia4u15,

I don't trade the 30 minute chart so it's kinda hard
for me to give advice on it.

However, when I look at the weekly, daily & 4 hour charts
they all look bullish to me! What I would do is hold it &
see what happens. I would try to convert it to the 4 hour chart
if I could...

sj
  • #46,867
  • Dec 15, 2014 6:57pm Dec 15, 2014 6:57pm
Quoting dennis4u15
Hi Guys, Just needed some input on this EA long that didn't work. The Tdi cross on 30 minute was good and the Tdi was also hooking on 1 hr time frame...the size of the 2 candles on 30 minute time frame was also good..The only reason I got was that it could be a fake move at Frankfurt open. Could the pros take a look and advice please. Regards Dennis {image}

Hi Dennis,

It has to do with Multi-TimeFrame Analysis and reconciliation. Nothing to do with fakey at Frankie or whatsoever what we only can see on hindsight.
You traded M30 chart but you still need to look at the higher TF what the price action and TDI is showing us at that time. You also need to look at the most recent Support and Resistance by looking just to the left of your chart.

Your entry was against the H1 and H4 price action and also the H1 and H4 TDI.
When you want to trade lower TF H1 and below, it is important that you use the full TDI, ... the Green Price Line, the Red Trade Signal Line and the yellow Market Base Line.

Also, I would not trade M30 but rather trade using M15 as timing chart for trade entry. The trade Setup should be H1 chart and Trend using H4 chart TF. This has a ratio of 4:1 when we look at M15, H1 and H4. Four M15 candles make aon H1 candle, four H1 candles makes one H4 candle. This is easy to read the candles price Open High Low and Close.

You need to look at your trading approach and find a consistent approach and follow that with discipline.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #46,868
  • Dec 15, 2014 7:26pm Dec 15, 2014 7:26pm
Quoting merrygold
{quote} Wow THAT is a risky trade. - Counter trend, all odds are against you, but well done! keep making' them pips!
Yes I agree that looking at the TDI on the Time Frame I entered all was against me but with PA being number 1 and TDI being NO2, with the production of the large wicks right on Weekly, Daily and 4H Resistance that was why I took the trade. Im actually looking for lower on this pair before going Long again.
  • #46,869
  • Dec 15, 2014 10:33pm Dec 15, 2014 10:33pm
Thanks for the reply Emmanuel,

Yeh there are quite a bit of things to look at...I find it a bit confusing when I look at higher time frame...I do look at weekly and daily for the 4hr time frame trades. Yes on most occasion I tend to get the trend on weekly and daily. When I get to 4hr time frame to place my trade after I see a TDI cross I always check where and how the TDI is pointing on higher time frame and this is where all messes up...the Higher time frame TDI is mostly flat and I am not able to place trades. The higher TF TDI should at least be pointing towards the lower time frame cross isn't it. I pass these trades only to see it go my way but after a couple of candles..at times when i do enter late the movement is over and price starts to consolidate. Mostly when there is a good cross on 4 hr time frame the daily TDI is just flat so it is hard to tell if it will go in my favour. These are some of the issues that i am facing. And then there is price action, inside bars, master candles and so on....ur input is needed please.

Regards

Dennis
  • #46,870
  • Dec 15, 2014 11:36pm Dec 15, 2014 11:36pm
Quoting Fd7999
GBPJPY hitting an interesting area.... 200ma on 4H
GBP/JPY _H1 , the pair is touching an ABCD completion zone, and EMA 200 as well, but regardless, momentum on daily and h4 still might has room to the downside

So having this pair for LO, or afterwards news on pound
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I Have Learned to Take Some Losses to Make Profits
  • #46,871
  • Dec 16, 2014 12:12am Dec 16, 2014 12:12am
Quoting TheScorpS
{quote} GBP/JPY _H1 , the pair is touching an ABCD completion zone, and EMA 200 as well, but regardless, momentum on daily and h4 still might has room to the downside So having this pair for LO, or afterwards news on pound {image}
Many thanks TSS... this is looking great... will add to watchlist LO
  • #46,872
  • Edited 12:59am Dec 16, 2014 12:18am | Edited 12:59am
Quoting dennis4u15
Thanks for the reply Emmanuel, Yeh there are quite a bit of things to look at...I find it a bit confusing when I look at higher time frame...I do look at weekly and daily for the 4hr time frame trades. Yes on most occasion I tend to get the trend on weekly and daily. When I get to 4hr time frame to place my trade after I see a TDI cross I always check where and how the TDI is pointing on higher time frame and this is where all messes up...the Higher time frame TDI is mostly flat and I am not able to place trades. The higher TF TDI should at least...
Hi dennis4u15, another way to look at this, rather simple I have to admit, is to realize its structure as a ABCD pattern on the D1... that way you have a bit of a heads-up down (lol... non-intentional) on the 1H/4H that something may happen that could effect your trade...

Theres (usually) a yet more easier way to spot or measure such a ABCD pattern ... with good old trendlines (or you could do this with MA's)... i'd simply say this is why your long ran out of gas. From here it may break-out retrace extension, break-out fake-out, retrace or consolidate like for a few days...
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  • #46,873
  • Dec 16, 2014 12:24am Dec 16, 2014 12:24am
Quoting TheScorpS
{quote} GBP/JPY _H1 , the pair is touching an ABCD completion zone, and EMA 200 as well, but regardless, momentum on daily and h4 still might has room to the downside So having this pair for LO, or afterwards news on pound {image}
TSS,
I understand that to Counter Drive BC leg and / or Drive the CD trend leg of ABCD, prerogative is to identify the AB leg first.
I'm finding it little confusing to identify the AB leg ...
Can you advice few parameters / steps to identify the AB leg and the BC leg?
Thanks
  • #46,874
  • Dec 16, 2014 12:31am Dec 16, 2014 12:31am
Quoting griffinssoul
{quote} Many thanks TSS... this is looking great... will add to watchlist LO
Intelligence is the ability to adapt to change. Stephen Hawking
  • #46,875
  • Dec 16, 2014 12:37am Dec 16, 2014 12:37am
Quoting adikashyap
{quote} TSS, I understand that to Counter Drive BC leg and / or Drive the CD trend leg of ABCD, prerogative is to identify the AB leg first. I'm finding it little confusing to identify the AB leg ... Can you advice few parameters / steps to identify the AB leg and the BC leg? Thanks
If I may..... I was taught that the A to B leg is the impulse move up or down that makes a new structure high / low....

here's an example on EA.....
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  • #46,876
  • Edited 12:55am Dec 16, 2014 12:44am | Edited 12:55am
Quoting sknight1
{quote} If I may..... I was taught that the A to B leg is the impulse move up or down that makes a new structure high / low.... here's an example on EA..... {image}
Wonderful example! adikashyap this is also called a 'measured move' sometimes as the AB leg projects the CD - the AB is found from the pivot (swing low in this case to the swing high) points - starting from the lowest (priced) fractal (B. Williams) to the highest TSS is amazing at finding these...

In EWT these are considered 3-wave corrections and the way to find that is to consider the wave structure but that gets complicated but fast...
  • #46,877
  • Dec 16, 2014 12:54am Dec 16, 2014 12:54am
Quoting adikashyap
{quote} TSS, I understand that to Counter Drive BC leg and / or Drive the CD trend leg of ABCD, prerogative is to identify the AB leg first. I'm finding it little confusing to identify the AB leg ... Can you advice few parameters / steps to identify the AB leg and the BC leg? Thanks
Have a look at this chart, if you need to go more than that , prepare ur self to read at least 150 pages thread
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I Have Learned to Take Some Losses to Make Profits
  • #46,878
  • Dec 16, 2014 12:57am Dec 16, 2014 12:57am
Quoting sknight1
{quote} If I may..... I was taught that the A to B leg is the impulse move up or down that makes a new structure high / low.... here's an example on EA..... {image}
Yes that AB leg is often called an impulsive leg, some even wouldn't call it before it retrace to 38.2 to be valid
I Have Learned to Take Some Losses to Make Profits
  • #46,879
  • Dec 16, 2014 12:58am Dec 16, 2014 12:58am
Quoting griffinssoul
{quote} Wonderful example! adikashyap this is also called a 'measured move' sometimes as the AB leg projects the CD - the AB is found from the pivot (swing low in this case to the swing high) points - starting from the lowest (priced) fractal (B. Williams) to the highest TSS is amazing at finding these... In EWT these are considered 3-wave corrections and the way to find that is to consider the wave structure but that gets complicated but fast...
Griff, Sknight and Scorps. You guys are great at explaining your views and analysis. I learn loads from your posts.
Intelligence is the ability to adapt to change. Stephen Hawking
  • #46,880
  • Dec 16, 2014 1:05am Dec 16, 2014 1:05am
Quoting TheScorpS
{quote} Yes that AB leg is often called an impulsive leg, some even wouldn't call it before it retrace to 38.2 to be valid
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