Hi Emmanuel could u please explain how u protect positions and how to open more trades in the same direction.
Regards
Dennis
Regards
Dennis
- #48,783
- Jan 6, 2015 7:31pm Jan 6, 2015 7:31pm
- Joined May 2012 | Status: Happy trading n enjoy green pips | 5,322 Posts
Hi Guys, Caught this aud/usd 4hr short in the asia session...banked some profit....looking for the price to hit weekly pivot for exit... {image}
{quote}looks like I missed a couple of great weeks.
Appreciation is the key to wealth and happiness
- #48,784
- Edited 7:46pm Jan 6, 2015 7:33pm | Edited 7:46pm
- Joined Aug 2014 | Status: Membership Terminated | 4,544 Posts
- #48,785
- Jan 6, 2015 7:34pm Jan 6, 2015 7:34pm
- Joined Aug 2014 | Status: Membership Terminated | 4,544 Posts
{quote}
- #48,787
- Jan 6, 2015 7:42pm Jan 6, 2015 7:42pm
- Joined Aug 2014 | Status: Membership Terminated | 4,544 Posts
Hi all, I read it again and again what SJ said, that initial this system was developed from an US trader point of view... that it's nice, u can let over night the 4H graph to run, but now I still try to find the BEST solution to use this TMS system, due to the fact that I'm from Eastern Europe (GMT+2); a lot of people said that we are the lucky ones that we have access to both LO and NY O till NY lunch time, and also at night the Aussi Open, but the LO and NY O I'm at office...So if there are traders from my region can pls pls say to me...
great trades - ummm kind of hard to read your charts... but they look good cause its moving down right?
- #48,788
- Jan 6, 2015 7:42pm Jan 6, 2015 7:42pm
- Joined May 2012 | Status: Happy trading n enjoy green pips | 5,322 Posts
Appreciation is the key to wealth and happiness
- #48,789
- Jan 6, 2015 7:44pm Jan 6, 2015 7:44pm
- Joined Aug 2014 | Status: Membership Terminated | 4,544 Posts
{quote} so you are saying you took those GN pips without tdi? get out of here buddy, just kidding, hope you get over with that flu and keep trucking green pips I m good at seeing naked charts too, but now getting better with APB specially when in a trade. TDI + PA = $$$$$$$$
Phx62 is a gifted trader - sure we cant all trade like that but you can try 
- #48,790
- Jan 6, 2015 7:46pm Jan 6, 2015 7:46pm
- Joined May 2012 | Status: Happy trading n enjoy green pips | 5,322 Posts
AU +30pips & GU +20pips - GU so close to a +50pips psycho slam into the 1.51 round handle - just didnt get filled... {image} {image}
. Appreciation is the key to wealth and happiness
- #48,791
- Jan 6, 2015 7:48pm Jan 6, 2015 7:48pm
- Joined Aug 2014 | Status: Membership Terminated | 4,544 Posts
{quote} I think that s enough pips for u today GS, leave some for me too
- #48,794
- Jan 6, 2015 7:54pm Jan 6, 2015 7:54pm
- Joined Nov 2008 | Status: Trader | 50,185 Posts
Hi Emmanuel could u please explain how u protect positions and how to open more trades in the same direction. Regards Dennis
Hi Dennis,
here very briefly before I run out for lunch.
the basic approach is to use three TFs to see which is the Primary Trend,
when I trade H1, the D1 chart is the Primary Trend
then I plan my H1 trade, if there is counter-trend setups and those I see in my trade plan, then he MM is simple. I trade with multi-lot entry and with 2 exits.
like the trade I did yesterday Asian session.
Then came the reversal setup when LO which is following the Primary Trend, that is my H1 setup entry. Same multi-lot entry and 2 exits.
After the first exit, I saw a H4 PA setup so I re-enter an addition position using the first exit profits.
Then came the next H4 close still red APB , I enter another position after the early two are protected.
And the fourth position is now H4 view again and still in the direction of the Primary Trend.
Now the fun begins, we wait and see if yesterday high is this week high so we ride the Primary Trend to find a new low for this week. This H1 trade now becomes a H4 swing trade.
Price now approach Monday' open , we wait and watch if AUD make a lower close this week by looking at each Day Open and Close. We will see a red weekly candle close?
Every trade can be managed individually the same way we set the SL and TP in MT4 terminal. It is hard work doing these trade management of multiple orders.
make life easier, use a trade manager, like MPTM EA to manage basket of trades in chart.
More details later.
regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #48,795
- Jan 6, 2015 7:55pm Jan 6, 2015 7:55pm
- Joined May 2012 | Status: Happy trading n enjoy green pips | 5,322 Posts
Appreciation is the key to wealth and happiness
- #48,799
- Jan 6, 2015 8:04pm Jan 6, 2015 8:04pm
- Joined Nov 2008 | Status: Trader | 50,185 Posts
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett