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Trading Made Simple

  • #46,921
  • Dec 16, 2014 2:20am Dec 16, 2014 2:20am
Quoting Greenb
{quote} trust me, most time i'm feeling like that too. but i always remember that if i just take all cross and bounce (the way i see it) backtesting proves that i can get more than 50% chance of success. so whenever its go with the trend, i fancy that i have higher success rate.
Great point Greenb, I've thought about this and I was hoping it would be a little higher - something like 55-60% on all signals (never tried to BT)...
  • #46,922
  • Dec 16, 2014 2:20am Dec 16, 2014 2:20am
Quoting sknight1
{quote} Ouch ! Sorry buddy. Time to stop and reverse, maybe??? Catch 100 pips on the upside retrace ????
maybe, maybe not, i don't know. its 19 minutes after and it's still sitting there. i think ill just stick with long GU instead of going to yen cross again.
Daniel
  • #46,923
  • Dec 16, 2014 2:23am Dec 16, 2014 2:23am
Quoting Landline
Heres a trade I've taken on GN from a 5 min chart purely for exoeriimentation purposes. The yellow vertical line shows my entry, and interestingly (for me at least) is that I wanted to see what would happen if I used just 2 out of the 4 elements that I've typically been using the past 2 or 3 weeks. In the image I used only - A . TDI cross and B . zone, and completely disregarded the other 2 things that I would normally apply. I used the 5 min chart to accelerate the process. The small position size for this will not affect my account win or lose....
Hmmmm..... it didn't fail...now thats interesting, but don't know whether it helps me if I'm honest. Time to have a think about this whist trading normally
  • #46,924
  • Dec 16, 2014 2:32am Dec 16, 2014 2:32am
Quoting Greenb
{quote} maybe, maybe not, i don't know. its 19 minutes after and it's still sitting there. i think ill just stick with long GU instead of going to yen cross again.
Needs more for a TMS signal anyway... perhaps later... ??? ... 4H could turn but the D1 is looking like it could dive down...
  • #46,925
  • Dec 16, 2014 2:36am Dec 16, 2014 2:36am
Quoting Landline
{quote} TP target achieved...+33 2nd long order order still progressing along
Morning Landline, what time do you start trading?

I see, like me, you are in UK.

Cheers

Alan
  • #46,926
  • Dec 16, 2014 2:37am Dec 16, 2014 2:37am
Quoting griffinssoul
{quote} Needs more for a TMS signal anyway... perhaps later... ??? ... 4H could turn but the D1 is looking like it could dive down...

NY open i would think. pretty sure its going to be bloody
Daniel
  • #46,927
  • Dec 16, 2014 2:38am Dec 16, 2014 2:38am
Quoting Greenb
{quote} NY open i would think. pretty sure its going to be bloody
LOL!
  • #46,928
  • Dec 16, 2014 2:45am Dec 16, 2014 2:45am
I guess this has been answered a couple of times but can anyone point me in the directin of The trade simulator talked about in the this thread and diections on how to set it up and use it ? Thanks
  • #46,929
  • Dec 16, 2014 2:50am Dec 16, 2014 2:50am
Quoting wnabo
I guess this has been answered a couple of times but can anyone point me in the directin of The trade simulator talked about in the this thread and diections on how to set it up and use it ? Thanks

I use Forex Tester 2 for back testing..... http://www.forextester.com/

Reasonably priced, directions (videos) for use on the website.
  • #46,930
  • Dec 16, 2014 2:57am Dec 16, 2014 2:57am
Quoting saintalan
{quote} Morning Landline, what time do you start trading? I see, like me, you are in UK. Cheers Alan
Hi Alan

Yes I'm in Herts.

I don't have any set time, but I'm normally taking a look at 8.30am at least. I've usually got a trade or perhaps several running during Asian, so I'm not too worried personally about being up and ready at LO.

I scan the markets for pairs that interest me...I have no preference to any one pair, so far as I can tell they all react similarly in accordance to the elements I'm looking for at least. Obviously spreads will be factored into any decision making.

How has your trading been going, have you applied some of the principles yet that have been outlined on this thread, there are a number of variations to the core theme, and at first it does seem a little confusing I know. Snarlyjack was extremely helpful and cooperative in particular when I started using TMS, and I can certainly recommend him if you need more detailed info...it just depends what style you are looking to adopt I guess.

Cheers - LL
  • #46,931
  • Dec 16, 2014 3:57am Dec 16, 2014 3:57am
USD/JPY daily looks like it is going down. Missed the H4 entry.
Attached Image (click to enlarge)
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  • #46,932
  • Edited 5:11am Dec 16, 2014 4:02am | Edited 5:11am
GA +20pips currently - just missed TP by 7pipettes ...LOL!!! break-out fake-out gave great TMS cross... also AN not doing much 10pips...[both heavy]...

EDT: wow, GA just got TP'd @ 50pips... while i as writing this... cool... BE on AN cause i dont want 2 take any chances

EDT2: LOL! AN just got TP'd @ 30pips ... WOW!!! TMS is the BEST!!!!!!!!!!!!!!!!!

EDT3: that makes 40+30+50+30 [drawdown was less than -5pips average] which is 150pips heavy & I'm out! switching to light...

EDT4: updated chart...
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  • #46,933
  • Dec 16, 2014 4:04am Dec 16, 2014 4:04am
Open question about Risk Reward. Just wondering what kinda opening risk reward you guys look for when opening trades.

For Example I'm looking at GAud continuing on the up trend. Daily and weekly are in a strong up trend. H4 is just starting to turn up but the candle has not closed above the TDI yet, the 1H has a good strong TDI cross and with the look of things given the Daily/weekly trend I would say we are going to test the recent high at least.

To take this trade I would be targeting 50 pips, all sounds good so far. But looking more closely with this pair having a ADR of 187 the 50pip target doesn't sound to good. And if I was to place my stop below the recent low it would be nearly 150pips away....

So any opinions on this set up would be welcome.....

EDIT: This pair has subsequently surged 50 pips while writing this text..... so now the question is did anyone take this trade given the risk/reward and if so where was your stop ect?
  • #46,934
  • Dec 16, 2014 4:07am Dec 16, 2014 4:07am
Quoting nods80
{quote} Glad I was waiting for the candle to close, {image}

Hi,

Yes, always wait for the TMS setup candle to close and confirm the setup with TDI confirmation.

Attached Image (click to enlarge)
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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #46,935
  • Dec 16, 2014 4:20am Dec 16, 2014 4:20am
Quoting griffinssoul
GA +20pips currently - just missed TP by 7pipettes ...LOL!!! break-out fake-out gave great TMS cross... also AN not doing much 10pips...[both heavy]... EDT: wow, GA just got TP'd @ 50pips... while i as writing this... cool... BE on AN cause i dont want 2 take any chances EDT2: LOL! AN just got TP'd @ 30pips ... WOW!!! TMS is the BEST!!!!!!!!!!!!!!!!! EDT3: that makes 40+30+50+30 which is 150pips heavy & I'm out! switching to light... EDT4: updated chart...
Great work
I was in GA stopped out from +30 to +5 TP was 50
Now thinking that GbpUsd could go low
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  • #46,936
  • Dec 16, 2014 4:30am Dec 16, 2014 4:30am
Quoting RedPhoenix
{quote} Great work I was in GA stopped out from +30 to +5 TP was 50 Now thinking that GbpUsd could go low {image}
The thing was it was only the change from candle 2 to candle 3 so too early for BE cause PA was looking great... ... it was the fake-out play that set this up and why PA was so good...
  • #46,937
  • Dec 16, 2014 4:35am Dec 16, 2014 4:35am
Good morning everyone,
(it's 5:30 a.m. my time & N/Y is getting started).

I think were going into interesting times for a bunch of reasons!
It's going to be fun to watch & trade the markets next year.

If you look at a daily chart & reduce it 1 click, just to see the big picture.
Then drop down to the 4 hour chart, to see what's going on their.
Then drop down to the 1 hour chart to see what's going on with it.

You'll have a pretty good idea of what is going on with the currency you trade.
Then you go from their, took at the tdi, look at the levels, look at the trend.
Just keep doing it & soon you can just see the whole picture of what the
market is trying to tell you.

This is going to be fun!

sj
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  • #46,938
  • Dec 16, 2014 4:39am Dec 16, 2014 4:39am
Quoting snarlyjack
Good morning everyone, (it's 5:30 a.m. my time & N/Y is getting started). I think were going into interesting times for a bunch of reasons! It's going to be fun to watch & trade the markets next year. If you look at a daily chart & reduce it 1 click, just to see the big picture. Then drop down to the 4 hour chart, to see what's going on their. Then drop down to the 1 hour chart to see what's going on with it. You'll have a pretty good idea of what is going on with the currency you trade. Then you go from their, took at the tdi, look at the levels,...
Thanks SJ Just wondering if you take a break from trading for holidays and how long? Whats your view, will it get too risky etc?
  • #46,939
  • Edited 5:00am Dec 16, 2014 4:43am | Edited 5:00am
Quoting griffinssoul
{quote} The thing was it was only the change from candle 2 to candle 3 so too early for BE cause PA was looking great... ... it was the fake-out play that set this up and why PA was so good...
Yep. Better faked-out then stoped-out.
Its that time of year when PA gets crazy and tomorrow is FOCM(maybe they will rise rates) so I will tread very lightly till the end of the year.
  • #46,940
  • Dec 16, 2014 4:46am Dec 16, 2014 4:46am
Quoting RedPhoenix
{quote} Yep. Better faked-out then stoped-out. Its that time of year when PA gets crazy and tomorrow is FOCM(maby they will rise rates) so I will tread very lightly till the end of the year.
Just follow what Big E says about news (holidays, hmmm?)- he sums it all up really well. For me on the 1H/4H, i hide until the dust settles and then have a look for nice calm setups...
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