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Trading Made Simple

  • #47,401
  • Dec 19, 2014 8:27am Dec 19, 2014 8:27am
Quoting MarioBalo
Anybody here taken a long at 1.2291 today on EU?
Testing the yearly low from earlier this month .. would like to see some bullish evidence before getting in .. if it closes on 4h below 1.225 the bottom could drop out
  • #47,402
  • Dec 19, 2014 8:40am Dec 19, 2014 8:40am
Quoting griffinssoul
{quote} Many thank SJ - cant express how grateful I am mate... you are hands down one of the best traders i have ever had the privilege to meet... 77% is just amazing... I just want to maintain this and keep repeating it...
Same from me. Learnt so much from you, Emmanuel, phx62, ilicka and lastingwell. Cant wait for the new year. Thanks a million.
Intelligence is the ability to adapt to change. Stephen Hawking
  • #47,403
  • Dec 19, 2014 9:01am Dec 19, 2014 9:01am
Quoting griffinssoul
Just a quick summary for the past 4 W (anything before this was embarrassing cause i didnt know what i was doing): W1(24/11) : 4 trades : 130pips W2(01/12) : 6 trades : 185pips W3(08/12) : 7 trades : 339pips W4(15/12) : 11 trades : 370pips (there was the AChf trade that I pushed from W3(triggered) to W4(exit)) This makes 27 trades, 21 wins, 5 BE, 1 lose : 1024pips (465 Heavy / 559 Light) Gaining confidence...
outstanding. Good work. Hope I can catch you up. 😃
Intelligence is the ability to adapt to change. Stephen Hawking
  • #47,404
  • Dec 19, 2014 9:42am Dec 19, 2014 9:42am
Quoting griffinssoul
{quote} USO might be a bit better but i think thats about it for me for 2014... apart from the US session there is always the beer drinking session which is very important on the financial calendar...

same, no more trades for 2014.
now it would be the read a book/ shopping time...bye bye all these wonderful green pips. i shall miss you much
i'm thinking 2nd week of 2015 before starting again.


Greenb
Daniel
  • #47,405
  • Dec 19, 2014 10:07am Dec 19, 2014 10:07am
@breezy and redcloud, i suggest you change the bar color so you can actually see the candle's OPEN and CLOSE.. how can you even trade without it?
  • #47,406
  • Dec 19, 2014 10:08am Dec 19, 2014 10:08am
Quoting moretti12
@breezy and redcloud, i suggest you change the bar color so you can actually see the candle's OPEN and CLOSE.. how can you even trade without it?
What colors do you suggest?
Positive anything is better than negative thinking.- Elbert Hubbard
  • #47,407
  • Dec 19, 2014 10:24am Dec 19, 2014 10:24am
Quoting redcloudxlll
{quote} What colors do you suggest?
doesnt matter... pick a color that is clear on your black background.. yelllow, lime or something.
look at the pic Emagine just posted
  • #47,408
  • Dec 19, 2014 10:27am Dec 19, 2014 10:27am
Quoting moretti12
{quote} doesnt matter... pick a color that is clear on your black background.. yelllow, lime or something. look at the pic Emagine just posted
I see what you mean thanks for the tip!!
Positive anything is better than negative thinking.- Elbert Hubbard
  • #47,409
  • Dec 19, 2014 10:50am Dec 19, 2014 10:50am
Quoting griffinssoul
Just a quick summary for the past 4 W (anything before this was embarrassing cause i didnt know what i was doing): W1(24/11) : 4 trades : 130pips W2(01/12) : 6 trades : 185pips W3(08/12) : 7 trades : 339pips W4(15/12) : 11 trades : 370pips (there was the AChf trade that I pushed from W3(triggered) to W4(exit)) This makes 27 trades, 21 wins, 5 BE, 1 lose : 1024pips (465 Heavy / 559 Light) Gaining confidence slowly... hoping to maintain this W results in the new year... a big thanks to all my fellow traders for the support day-in day-out...
Great job mate!
  • #47,410
  • Dec 19, 2014 11:09am Dec 19, 2014 11:09am
Quoting moretti12
@breezy and redcloud, i suggest you change the bar color so you can actually see the candle's OPEN and CLOSE.. how can you even trade without it?
I don't understand what you mean by this?
  • #47,411
  • Dec 19, 2014 11:10am Dec 19, 2014 11:10am
Quoting redcloudxlll
{quote} I see what you mean thanks for the tip!!
could you explain more please? like with a screenshot of before and after?
  • #47,412
  • Dec 19, 2014 11:14am Dec 19, 2014 11:14am
Quoting wyley187
{quote} could you explain more please? like with a screenshot of before and after?
My candlesticks are all one color red and blue. I have to change the outline in order to tell the difference between the open and close of each bar.
Positive anything is better than negative thinking.- Elbert Hubbard
  • #47,413
  • Dec 19, 2014 11:26am Dec 19, 2014 11:26am
Quoting redcloudxlll
{quote} My candlesticks are all one color red and blue. I have to change the outline in order to tell the difference between the open and close of each bar.
wow I must really be sleepy today, is it possible to post a screenshot of before and after, I'm not getting what you mean, I looked at your previous chart, could you give me something to compare it too?
  • #47,414
  • Dec 19, 2014 12:13pm Dec 19, 2014 12:13pm
Quoting moretti12
{quote} doesnt matter... pick a color that is clear on your black background.. yelllow, lime or something. look at the pic Emagine just posted
OK I see exactly what you mean... Thanks for the help
  • #47,415
  • Dec 19, 2014 12:36pm Dec 19, 2014 12:36pm
Do you guys have a general recommendation for where to put Stops Losses? Or does it depend on the trade?
  • #47,416
  • Dec 19, 2014 12:37pm Dec 19, 2014 12:37pm
Quoting wyley187
{quote} wow I must really be sleepy today, is it possible to post a screenshot of before and after, I'm not getting what you mean, I looked at your previous chart, could you give me something to compare it too?
See the diffrence? It's probably a default setting if you use somebody's template
Attached Image


Attached Image
  • #47,417
  • Dec 19, 2014 12:43pm Dec 19, 2014 12:43pm
Quoting moretti12
{quote} See the diffrence? It's probably a default setting if you use somebody's template {image} {image}
If apply the APB indicator to a bar chart rather than Japanese candles it will show the open and close.
Intelligence is the ability to adapt to change. Stephen Hawking
  • #47,418
  • Dec 19, 2014 12:50pm Dec 19, 2014 12:50pm
Quoting emagine
{quote} Thank you for your replies Snarlyjack and Lastingwell Lastingwell, I am using a separate broker that uses a web-trader to execute my trades therefore I couldn't display my entries and exits on this MT4. My trades were taken as follow: 1. GBPJPY (17.12 at London Open + 4 hrs), 2. EURJPY (18.12 at LO when PA went below FO's low at 145.788) and 3. GBPNZD at (19.12 at LO + 4 hours). I think I remember your H4 candle open-s timing is a little different from mine. Attached is my H4 charts (Red Vertical and Horizontal marks entry). At entry,...
Ok I see where you went in on EJ now, by my reckoning there was 35 pips from the open of the candle you went in on, to where you actually went in. If the low is that far away, you have plenty of time (hopefully) to allow you to set your breakeven if necessary. Never wait that long before getting into a trade, if the low was close then I can understand it, but that is a very long distance to wait.

As far as the GJ trade goes, 12 noon London, is usually pretty quiet unless there is news of some sort to give it a spurt.
  • #47,419
  • Edited 1:38pm Dec 19, 2014 1:05pm | Edited 1:38pm
Quoting Breezy
Do you guys have a general recommendation for where to put Stops Losses? Or does it depend on the trade?
I would say it depends on the situation. Always look for good Risk Reward and don't make it too small. Minimum ~30 Pips in H4. For the most time it is best placed on the previous High/Low of the HA Candle. More aggressive would be at High/Low of current cundle that is forming.

Quoting michael_k
The main factor I am trying to implement now is setting realistic TP level and keeping the SL small.
In H1 I have made the experience that H4 Swing(5) Highs and Lows as well as previous day's high and low, which are often the same, are good for potential targets. The AsianSession low and high is also a level to consider taking profits.

As I see it getting out of the trade is fare more important than getting in. Another factor to consider is if the market is trending or not. For that I'm looking at D1 RSI(13) and H4 RSI(13) numbers if they are near 50 or far below/far above. When the market is trending, I usually don't close on end of day and let my profits run as a swing trade.

Do you think this approach is good in TMS? Because this is more my general experience...

Do you think it is better to only exit when the HA Candle is changing color (in H1 and M30)?

Do you change your behaviour of taking profits when you see the market is trending and what are your criterias to differentiate between a range and a trending market?

Many questions, I hope not too much. I'm just curious in which way you consider taking profits in H1/M30
  • #47,420
  • Dec 19, 2014 1:07pm Dec 19, 2014 1:07pm
Quoting moretti12
{quote} See the diffrence? It's probably a default setting if you use somebody's template {image} {image}
ok I got it now, I use heiken ashi so I was a little confused, I use fxcm Trading station II so I can't get APB's
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