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Trading Made Simple

  • #49,221
  • Jan 8, 2015 11:04pm Jan 8, 2015 11:04pm
Hi SJ,

What is your thought on AJ? Time to start thinking about LONG again?

Regards
erelation
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  • #49,222
  • Jan 8, 2015 11:33pm Jan 8, 2015 11:33pm
Quoting griffinssoul
GA +30pips : 1H(cross)/4H(funny kink shape?) : high prob trade with safe BE+comm entry - i had a bit of drawdown but hung tough cause i thought it was a good setup [i have lost my mojo a bit cause of confusing PA... it looks funny... nervous like] {image}
It's still bouncing back and forth we should expect more downtrend on these pairs though. I believe. Atleast 50+ pip move.
Positive anything is better than negative thinking.- Elbert Hubbard
  • #49,223
  • Edited Jan 9, 2015 12:01am Jan 8, 2015 11:51pm | Edited Jan 9, 2015 12:01am
Quoting birdnest
{quote} Both EA and GA seems to be in the overbought areas and the D working a hookover soon and hitting the previous resistances. Is it too late to go into the trend now? Or it is better to wait for the trend to complete itself before going in on a new leg?
Hi birdnest, you have to be careful with what you mean by over-bought/sold when considering a trend (especially an impulse wave) - the trend can stay in play for a very long time (and take out many counter-trend accounts while its at it ) - you can have 5-wave extensions of extensions etc. In this case we are looking at a 50% retrace on the D1 TF - and as you say we have hit heavy supp so what i typically do here is watch PA and see how it handles the supp - watch out here cause this is forex with psycho slams happening every where - quick PA spikes generally from red news events dont let PA fool you [I tend to think of over-bought/sold in terms of consolidation periods where you have a flat top and bottom trendline - fits in nicely with osc such as RSI etc]

Not to confuse you but notice that the D1 is in an up trend [we are correcting from a ABCD move as part of a 5-wave move long] but we are treating the 1H/4H as a downtrend Hope that makes sense
  • #49,224
  • Jan 8, 2015 11:55pm Jan 8, 2015 11:55pm
Quoting redcloudxlll
{quote} It's still bouncing back and forth we should expect more downtrend on these pairs though. I believe. Atleast 50+ pip move.
Roger that red
  • #49,225
  • Jan 9, 2015 12:15am Jan 9, 2015 12:15am
Quoting griffinssoul
{quote} I think it will continue... but you know me i always take my pips and run (and fast)... casue its usually much easier to enter the trade but these last few days i cannot find anything - hope its just the holiday thing... yes, but i will have a look at LO - see you then
Just got back to my desk and saw you got your pips good on you, but running and leaving all of us behind is not so nice

Quoting TheScorpS
{quote} Do you have the 3 charts opens at all times likica?
no, only before I decide to enter a trade, to see if everything in order
Appreciation is the key to wealth and happiness
  • #49,226
  • Jan 9, 2015 12:19am Jan 9, 2015 12:19am
Quoting likica
{quote} Just got back to my desk and saw you got your pips good on you, but running and leaving all of us behind is not so nice
... I am thinking of re-entry... retrace 1H TDI cross short... hmmm....

heads-up the Asian channel looks narrow from what i can see...
  • #49,227
  • Jan 9, 2015 12:20am Jan 9, 2015 12:20am
Quoting likica
{quote} Just got back to my desk and saw you got your pips good on you, but running and leaving all of us behind is not so nice {quote} no, only before I decide to enter a trade, to see if everything in order
I agree should of let us know. haha. still trading it's pretty low at the moment. we shall see where it goes from here.
Positive anything is better than negative thinking.- Elbert Hubbard
  • #49,228
  • Jan 9, 2015 12:22am Jan 9, 2015 12:22am
Quoting redcloudxlll
{quote} I agree should of let us know. haha. still trading it's pretty low at the moment. we shall see where it goes from here.
I was watching PA and then when i got the 1H TDI Green hook i was outta there... Asian session for +30 means narrow channel from what i know and can see so far...
  • #49,229
  • Jan 9, 2015 12:31am Jan 9, 2015 12:31am
Quoting griffinssoul
{quote} I was watching PA and then when i got the 1H TDI Green hook i was outta there... Asian session for +30 means narrow channel from what i know and can see so far...
Agree. Market rarely moves during the Asian session. Looking forward to seeing what's to come these next couple of hours. closer to the LO
Positive anything is better than negative thinking.- Elbert Hubbard
  • #49,230
  • Jan 9, 2015 12:33am Jan 9, 2015 12:33am
Quoting Walter4x
Hi MichaelK, Thanks for the Trading Station indis
You welcome, glad it helped


Quoting Dmc-12
Hi michael_k I have down loaded the indicators but the TMS + Pac doesn't seem to want to load?
This is just a template based on standard indicators. Did you load the custom indicators first before loading the template?

Anyway, here is what I would do:
1. Load custom indicators (there are two: TDI and MultiTF HA (the red/greed arrows for higher timeframes).
Marketscope > Insert > Add Indicator > Import


2. Remove these indicators from the chart because they will be added again when you apply the template
Marketscope > Chart > Remove Elements

3. Import and apply the template (actually it will be applied automatically)
Marketscope > Templates > Manage Templates > Import > OK

That should do the trick, I think.

Regarding shift in moving average: I personally don't use it but here is good explanation.
  • #49,231
  • Jan 9, 2015 12:34am Jan 9, 2015 12:34am
Quoting redcloudxlll
{quote} Agree. Market rarely moves during the Asian session. Looking forward to seeing what's to come these next couple of hours. closer to the LO
...and when it does expect the LO to be rocky .... [handy hints from the school of Phx62]
  • #49,232
  • Jan 9, 2015 12:37am Jan 9, 2015 12:37am
Hi Emmanuel,

Quoting emmanuel7788
{quote}When trades are in profits, subsequent orders can be place using lower TF setups during the following days, but this requires watching the charts during the day time market session.
....
So far, does this answer your question? regards.
Absolutely! Thanks for explanation, really appreciate it.
  • #49,233
  • Jan 9, 2015 12:56am Jan 9, 2015 12:56am
is EU still attractive for a short?
Attached Image (click to enlarge)
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Appreciation is the key to wealth and happiness
  • #49,234
  • Jan 9, 2015 12:56am Jan 9, 2015 12:56am
TMS Monitor

I get frequent PMs on how many pairs I trade and how do monitor so many pairs.

Here is how I do it using TMS Monitor.
http://www.forexfactory.com/showthread.php?t=303347

I setup the TMS monitor for 15 pairs, and run the EA on 3 charts to show H1, H4 and D1 TFs.
Set the SoundAlert to True and SendEmail to True (if you want email alert send to you while you are work).

When I am at my PC, and I see an alert, I simply switch to that currency pair to look at the chart if there is a setup I look for.

You can set this up using one instance of MT4 installed in your PC.
Install a second MT4 in another folder to run your live trading.

Attached Image (click to enlarge)
Click to Enlarge Name: TMS Monitor 3TFs.png Size: 144 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #49,235
  • Jan 9, 2015 12:59am Jan 9, 2015 12:59am
Quoting likica
is EU still attractive for a short? {image}
Wow, i was just going to put this to you - but it needs more percolating - could jump up still at this stage... alos its dancing around the 1.18 round handle...

I am also watching NU - you 2?
  • #49,236
  • Jan 9, 2015 1:00am Jan 9, 2015 1:00am
Quoting griffinssoul
GA +30pips : 1H(cross)/4H(funny kink shape?) : high prob trade with safe BE+comm entry - i had a bit of drawdown but hung tough cause i thought it was a good setup [i have lost my mojo a bit cause of confusing PA... it looks funny... nervous like] {image}
hi griffinsoul, can i have that panel ratio indicator in tdi windows? seems preety useful. thanks-ehh
  • #49,237
  • Jan 9, 2015 1:03am Jan 9, 2015 1:03am
Quoting griffinssoul
{quote} Hi birdnest, you have to be careful with what you mean by over-bought/sold when considering a trend (especially an impulse wave) - the trend can stay in play for a very long time (and take out many counter-trend accounts while its at it ) - you can have 5-wave extensions of extensions etc. In this case we are looking at a 50% retrace on the D1 TF - and as you say we have hit heavy supp so what i typically do here is watch PA and see how it handles the supp - watch out here cause this is forex with psycho slams happening every where - quick...
Hi Griffinssoul,

It looks like an uptrend to me on weekly, but how and starting from where do you identify the 5 wave move?


Now it seems to me that trading the H4 charts have a lot of analysis and waiting to be done. And its like knowing how to filer the top 1% best setups~!
  • #49,238
  • Jan 9, 2015 1:06am Jan 9, 2015 1:06am
Quoting likica
{quote} would love to hear your thought of GJ, Emman.

I am still bearish bias on D TF. With that AB=CD completed, it is now sideways.


H1 is narrow ranged and still has not manage to move above 180.75 and supported by 180.00

We see H1 double top formed by yesterday' high and today Asian high.
Today LO, should look to sell but the range is very small now and with NFP, not much will happen until after that.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #49,239
  • Jan 9, 2015 1:10am Jan 9, 2015 1:10am
Quoting griffinssoul
{quote} Wow, i was just going to put this to you - but it needs more percolating - could jump up still at this stage... alos its dancing around the 1.18 round handle... I am also watching NU - you 2?
hummm.... EU is facing that DOL
nah, I only like eating kiwi but not trading Kiwi , too slow I think
Appreciation is the key to wealth and happiness
  • #49,240
  • Jan 9, 2015 1:13am Jan 9, 2015 1:13am
Quoting birdnest
{quote} Hi Griffinssoul, It looks like an uptrend to me on weekly, but how and starting from where do you identify the 5 wave move? Now it seems to me that trading the H4 charts have a lot of analysis and waiting to be done. And its like knowing how to filer the top 1% best setups~!
...from Mar `13 as wave-1 with a very shallow (flat) correction - wave-3 (it just cant be the shortest wave) has a slightly greater ascent angle then a very complicated wave-4 correction before the ABCD

Absolutely we want the best setups
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