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Trading Made Simple

  • #48,981
  • Jan 7, 2015 2:42pm Jan 7, 2015 2:42pm
Quoting Greenb
Finally have the time to start trading again GU +35 unrealized at the moment tp at 50 got in 2hours before LO following the trend down. small tp because it has been moving southward for quite a while now, and i don't expect an extra big push south unless there is something big. changed sl to BE so i can have a peace of mind Greenb EDIT: price hit tp (50) pips collected {image}
Welcome back Greenb! Congrats...
  • #48,982
  • Jan 7, 2015 3:03pm Jan 7, 2015 3:03pm
Quoting griffinssoul
{quote} Great trading cristy1980 Yeah, Dean Malone is a great trader (he looks a bit and sounds like Nicolas Cage... LOL!)... problem is you can only fit so much on one chart... LOL... hmmm more monitors hey... LOL

Now that's funny ! I never thought of the Nicolas Cage comparison.
  • #48,983
  • Jan 7, 2015 3:04pm Jan 7, 2015 3:04pm
Quoting snarlyjack
{quote} Likica, Your teaching me. I enjoy watching your trades...it's fun. We still have snow & it won't melt until late Feb. and your sun bathing, what's up with that sj
Late February ...? I'm in Iowa and right now it feels as though the recent snow and below zero degree temps won't ease up until June !

I hate winter.
  • #48,984
  • Jan 7, 2015 3:06pm Jan 7, 2015 3:06pm
It is almost New York Close Candle and I'm doing my daily analysis. I think there is confluence in EURJPY Daily charts. Round numbers 141,00, support and EMA200. TDI is over VB line and in oversold region, so should reverse sooner or later. There is congestion in H4 and H1. In my opinion should be ready for a BUy, Waiting for a TDI confirm in H4.
Attached Image (click to enlarge)
Click to Enlarge Name: EURJPYDaily.png Size: 44 KB
  • #48,985
  • Jan 7, 2015 3:18pm Jan 7, 2015 3:18pm
Quoting redcloudxlll
In two trades. EUR/Cad and AUD/USD Finally some pips {image}
Nice job Red. I decided to sleep through NY session today.
  • #48,986
  • Jan 7, 2015 3:59pm Jan 7, 2015 3:59pm
Quoting sknight1
{quote} Nice job Red. I decided to sleep through NY session today.
Sleep is good. I haven't slept
Positive anything is better than negative thinking.- Elbert Hubbard
  • #48,987
  • Jan 7, 2015 4:53pm Jan 7, 2015 4:53pm
I didn't find any setup for daily trading (for me is GMT+1 and NY candle is closed and asian session is opening). Any of you found a TDI setup candle cross for a BUY or SELL on daily TF? Anyone wants to discuss trade opportunities?

Regards
  • #48,988
  • Jan 7, 2015 4:57pm Jan 7, 2015 4:57pm
Quoting stevepatt
{quote} Hi sj; I completely agree with you, the most difficult thing, I find, is not having enough data, from my Trading results, to be able to make the optimum choice of Trade Management For all I know my best choice could well be Set & Forget. I try to get 1:Risk/2:Reward from every Trade I take, of course I don't achieve that as an average, my average Return is 0.5R after Winning/Losing/Break Even Trades have been totalled and averaged. I've found trying to achieve more than 2R consistently is hard to do because of the reduced Daily ADR. Usually...
Trading the H1 and lower TF is indeed stressful, I found myself bouncing onto the computer to check on every candle and sometimes in the midst of dwelling into the motion of things, I forget about the big picture trading too. H4 and daily charts are great way to start trading and test a whole lot on my patience level and discipline which secretly, I enjoy . I believe trading speaks a lot about one's character too and in this thread, I am amazed there are such great traders here who are not only experts in this business but who are willing to share and teach. Even in the world today, very few are willing to do so.

I am on my 2nd year into trading, and through the 1st year, I learnt through MANY mistakes without asking questions on WHY I made them. And in just a couple of posts (and the help of LIKICA & STEVEPATT), I realised my mistakes in what I could not see in a year. For new and experienced traders, I hope we could not only share our wins but our losses because mistakes teach us a lot too Quoted from Thomas A. Edison, I have not failed. I've just found 10,000 ways that won't work. Let's ROCK 2015 with more green pips and improving our trading skills! This journey is a great learning experience!

SJ,

During the time of waiting for setups, I shall re-read babypips again to refresh my memory.


Now time for work... but Good morning and trading day for everyone!
  • #48,989
  • Jan 7, 2015 5:14pm Jan 7, 2015 5:14pm
NOOB here.
Can anyone point me to post with latest files to download. I've looked through many posts but only have original files.
Great sharing on this forum.
  • #48,990
  • Jan 7, 2015 5:24pm Jan 7, 2015 5:24pm
Quoting georgewashin
I didn't find any setup for daily trading (for me is GMT+1 and NY candle is closed and asian session is opening). Any of you found a TDI setup candle cross for a BUY or SELL on daily TF? Anyone wants to discuss trade opportunities? Regards

Nothing in the 15 currency pairs on my watchlist. Only continuation trading in established trends.

Try this on demo.
EURAUD H1 chart with D big picture view.

Sell one unit at Asian open, SL above this week' high.

When London open, sell another unit, same SL. Look at the average price of both entries.

Then check again when NY open to see if the market is below your average price.

will update post later LO today.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #48,991
  • Jan 7, 2015 5:38pm Jan 7, 2015 5:38pm
Quoting emmanuel7788
{quote} Nothing in the 15 currency pairs on my watchlist. Only continuation trading in established trends. Try this on demo. EURAUD H1 chart with D big picture view. Sell one unit at Asian open, SL above this week' high. When London open, sell another unit, same SL. Look at the average price of both entries. Then check again when NY open to see if the market is below your average price. will update post later LO today.
Hi Emmanuel, Happy new year.

What would your target be for tp?
Intelligence is the ability to adapt to change. Stephen Hawking
  • #48,992
  • Edited 5:52pm Jan 7, 2015 5:41pm | Edited 5:52pm
Quoting griffinssoul
{quote} Hope youre feeling better mate... great to have you back in action
Thanks griff it's good to be back. The break was well worth it had a chance to catch up on some reading and chill. Hope you had a good time.
Intelligence is the ability to adapt to change. Stephen Hawking
  • #48,993
  • Jan 7, 2015 5:41pm Jan 7, 2015 5:41pm
Greeting Everyone.Newbie over here.Been reading this thread since last Dec.And practiced in demo account for months.Found this strategy helped a lot.
Big thanks to those who contribute and who share their experience here.
I register a small live account with USD 100 but seem like trade in 4 hours 100 USD seem too tiny to put stop loss.
Shall i deposit more or go for lower TF first?

Below is the setup i just found in NZD/USD .
Attached Image (click to enlarge)
Click to Enlarge Name: NZDUSD8ofJan7.31Am.jpg Size: 178 KB
  • #48,994
  • Edited 6:17pm Jan 7, 2015 6:03pm | Edited 6:17pm
Quoting PipForDinner
Greeting Everyone.Newbie over here.Been reading this thread since last Dec.And practiced in demo account for months.Found this strategy helped a lot. Big thanks to those who contribute and who share their experience here. I register a small live account with USD 100 but seem like trade in 4 hours 100 USD seem too tiny to put stop loss. Shall i deposit more or go for lower TF first? Below is the setup i just found in NZD/USD . {image}
Welcome pipfordinner. I was watching this and decided to pass because I had to many if's and buts . The h1 and h4 tdi are pointing in the opposite direction and the h1 PAC is vertical. However the h4 would need to break the 200sma to continue rising but the guppys could provide resistance on the h1. I'm gonna wait for LO and see if the picture will be clearer then.
Intelligence is the ability to adapt to change. Stephen Hawking
  • #48,995
  • Edited 6:35pm Jan 7, 2015 6:22pm | Edited 6:35pm
Quoting nods80
{quote} Hi Emmanuel, Happy new year. What would your target be for tp?
for

Hi nods,

Happy New Year too and good trading in this new year.

We let the market decide the final TP.
But some basic information we must have from our big picture planning are:
1. The weekly range is about 280 to 300 pips, this is be the swing range in one week.
2. The average monthly traded range over the past 12 months had fallen to about 500pips.

Top down analysis:
MN we see a pullback candle in Dec
W1 we see consecutive bearish weeks

Daily is downtrend and I see consolidation yesterday. (Inside Bar). This occur around a support region and I pick the break to the lower side with TDI views supporting the price action.

On H4 and H1 I see resistance re-tested, therefore I use to decide on Sell. There is also H4 consolidation and a IB setup.

In this demo, we are building up positions as market evolve so that we can get a good average entry price overall. This is to mitigate the unknown risk in instead of entering the market using full risk.
Caution, we have UK rate announcement and the volatility can affect the EUR.

Remember, this is a demo to show how we can trade at any time of the day for those having full time day jobs. You don't have to look for D chart setup and look for the TDI cross and APB candle#1 and #2 for entry. We can trade in any established trend and trade the continuation setups. Post#261.
To trade this way, we must use position building to get an overall average entry price. Do not trade single entry / single exit SE/SE on large timeframes.
Attached Image (click to enlarge)
Click to Enlarge Name: EURAUD EOD trading H1 H4 D.png Size: 67 KB


Above charts show a Triple Screen view of EA.

Hope this explains so far. We shall be tracking this demo later today when LO.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #48,996
  • Jan 7, 2015 6:35pm Jan 7, 2015 6:35pm
Quoting emmanuel7788
{quote} for Hi nods, Happy New Year too and good trading in this new year. We let the market decide the final TP. But some basic information we must have from our big picture planning are: 1. The weekly range is about 280 to 300 pips, this is be the swing range in one week. 2. The average monthly traded range over the past 12 months had fallen to about 500pips. Top down analysis: MN we see a pullback candle in Dec W1 we see consecutive bearish weeks Daily is downtrend and I see consolidation yesterday. (Inside Bar). This occur around a support region...
Thanks. I will demo this with you. If reaches Nov low could bag 300-400 pips.
Intelligence is the ability to adapt to change. Stephen Hawking
  • #48,997
  • Jan 7, 2015 6:40pm Jan 7, 2015 6:40pm
Quoting nods80
{quote} Thanks. I will demo this with you. If reaches Nov low could bag 300-400 pips.

You saw that Nov Low........
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #48,998
  • Jan 7, 2015 7:22pm Jan 7, 2015 7:22pm
Quoting mch1970
{quote} Hi Walter4X, The TDI indicators I use are attached in the paperclip, but for ease I have attached below. Can't help with the local time issue, although I believe the time relates to your broker settings. So for example I am in London, however my MT4 broker has settings that display a time 2 hours later than current GMT. Hope that helps. {file} {file}

Thanks mch1970,

I appreciate the files. I have downloaded a program from FXCM to get local times, but it doesn't work. My thinking is it takes flexibility to be a good trader, so I will adapt the times from GMT. I'm looking at 4hour and daily charts anyway. Coming over from equity day trading takes some adjustment, but I can unchain myself from the computer and enjoy life much more.

This thread is great. I can't even keep up with it, but I don't want to skip ahead either. I'm presently long AU.

Thanks everyone, especially Snarly Jack and StevePatt, love your analysis and your attitudes.

Walt
  • #48,999
  • Jan 7, 2015 7:26pm Jan 7, 2015 7:26pm
Quoting Andyvix833
{quote} Shabba, Hey pal, yeah, well if we take a moment and think about it logically without any skin in the game I think we can help clear this up for you. If you and and I are going to swim and we decide to race each other. Only, I am swimming against the current and you are swimming with the current and I told an outsider to bet money on the outcome, which would they chose and why?. I would certainly be staking the swimmer who is going with the current not against it. So if we were apply this to trading, if we look at your chart, where it looks...
Andy,
This is a excellent example
Thank you so much.
sj

Let's use the usd/jpy as a good training chart (daily, 4 hour & 1 hour).
What do you see...?
Attached Image(s) (click to enlarge)
Click to Enlarge Name: USDJPYDaily.png Size: 56 KB
Click to Enlarge Name: USDJPYH4.png Size: 63 KB
Click to Enlarge Name: USDJPYH1.png Size: 63 KB
  • #49,000
  • Jan 7, 2015 7:34pm Jan 7, 2015 7:34pm
GU short set up
Attached Image (click to enlarge)
Click to Enlarge Name: 8.1.15 Wed GU M30 short potential SO.png Size: 122 KB
Appreciation is the key to wealth and happiness
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