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Trading Made Simple

  • #50,041
  • Jan 15, 2015 5:06pm Jan 15, 2015 5:06pm
Quoting Greenb
{quote} i feel like it could be a choppy ride though. specially around the current price. but yes, primary direction is southward too for me. would type more but my mac is at 2% so gtg Greenb

Well, after yesterday's market reaction to the Libor rate, there is a lot of 'fear and greed' factor in play today.
Next week will be the BoJ action which will move the market again.
In all the chaos there are opportunities.
Many traders got caught by that huge plunge, even their SLs were not triggered as orders were huge way past where their stops were placed.

So trade safe.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #50,042
  • Jan 15, 2015 5:15pm Jan 15, 2015 5:15pm
Quoting MrAussieFX
EA Trade Asian Session {image} Kindest regards
http://www.forexfactory.com/attachme...1&d=1421335298

Excellent trade!

I like that NO Trade Zone you marked. But there is a Master Candle to the left, you can use that MC to identify NO Trade Zone until the PA breaks out of that MC.
For D charts traders, the PASR setup was a D Pin Bar at 200EMA and BRN 1.4500 on 14 Jan was the setup.
H4 was also a Master Candle at 1.4500.

Combining these HTF trade setup and on what we see on H1, that was a high probability A+++ trade.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #50,043
  • Jan 15, 2015 6:35pm Jan 15, 2015 6:35pm
Quoting emmanuel7788
{quote} {image} Excellent trade! I like that NO Trade Zone you marked. But there is a Master Candle to the left, you can use that MC to identify NO Trade Zone until the PA breaks out of that MC. For D charts traders, the PASR setup was a D Pin Bar at 200EMA and BRN 1.4500 on 14 Jan was the setup. H4 was also a Master Candle at 1.4500. Combining these HTF trade setup and on what we see on H1, that was a high probability A+++ trade.

Thanks Emmanuel, Thanks Marin0s.

Kindest regards
  • #50,044
  • Jan 15, 2015 6:38pm Jan 15, 2015 6:38pm
Hi Montego,

I trade the 1 hr and 30 min, but look back at the 4 hr for confirmation. I dont trade long term and try never to hold over night.

I started trading 4 hr and daily and failed for 5 years but i was not using TMS. With forex its different strokes for different folks and you need to find which trading style suits you. The one thing I have found is that I cannot trade the 15 minute, I fail here as well. Try them all to find your slot.
I cannot at this stage confirm that my trading style will continue to keep me green but past 4 months have been very positive and I have never ever enjoyed this before. I cannot take holding trades that go against me , I find it very draining, I like to be in and out and never take a big draw down. Thats me but you might be comfortable on the daily and hate the 30 min.

I wish you all the best Montego and let me add that 300 pips is not a normal day for me. I to am happy with 20 to 30 pips per day as with money management you can make a healthy income from this. I have been over trading on purpose , sort of testing my entry skills before working on holding etc. I have always found timing the entry of a trade very difficult. I am only trading a demo 0.01 leverage but want to go up to 1 lot within a year.

Anyway post your trades, It helps a lot to have others comment and keeps you on your toes. I hope I can help in any way I can.
All the best.
  • #50,045
  • Edited 7:56pm Jan 15, 2015 7:02pm | Edited 7:56pm
EA +30pips & GA currently 10-20pips??? set to BE+comm BE+comm (nearly hit TP on GA but got really jumpy, no worries was not after much ) - both 30M cross...

Just to make up for the previous loss due to psycho non-disclosed red news (conveniently released just after LO)...
Attached Image (click to enlarge)
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  • #50,046
  • Jan 15, 2015 7:27pm Jan 15, 2015 7:27pm
Quoting snarlyjack
{quote} Griffinssoul, Your a very good trader I enjoy your posts, thanks for all your help! I think your doing great! sj
Congrats on your trades SJ - glad to read you didnt get caught up in this event. I was just about to let UJ run for 50pips (after having great trades on GJ & EJ) - was using UJ as an indi cause the three were heavily correlated (just a simple method i developed but you have to stare @ PA for a while). Well, after the tsunami hit it was jumping around 30-50pip per Tick ... LOL! Got SL hit ... the rest is history...
  • #50,047
  • Jan 15, 2015 7:31pm Jan 15, 2015 7:31pm
In yesterday's chaos, I managed to get a handful of pips.

But in these trading situations, it seems there are too many opportunities but not all are the best ones.


Looking at UJ, should we be looking for a breakout after 115.75 and then a pullback to run the short position?
  • #50,048
  • Jan 15, 2015 7:33pm Jan 15, 2015 7:33pm
Quoting Greenb
just woke up 30 mins ago, ... somewhere else moment Griffin, i hope you took that GN short you were looking before, cause that was 200 pure pips. also it does look like ECAD went south ;p see you guys much later (few hours before LO) i have class soon + car appointment blerghh Greenb {image}
Hey Greenb, i focus on two trades cause more than that i make mistakes - if i took the GN it would have been good (i think someone did!!!) but the ECad would have been bad long (LOL!) however the ECad did not break-out long (from 4H symmetric triangle) so i am not sure i would have taken it [also in these setups you would be looking for a fake-out break-out play which usually gives excellent TDI crosses ]. The XJ trades were much safer and more obvious PA wise

What do you do @ school?
  • #50,049
  • Jan 15, 2015 7:36pm Jan 15, 2015 7:36pm
Have you folks seen that Excel Markets has gone bankrupt on the SNB chf drop and that FXCM lost $225 million...???
  • #50,050
  • Jan 15, 2015 7:42pm Jan 15, 2015 7:42pm
Ohmiwosh. That's how insane FX is......
  • #50,051
  • Jan 15, 2015 7:44pm Jan 15, 2015 7:44pm
Quoting sknight1
Have you folks seen that Excel Markets has gone bankrupt on the SNB chf drop and that FXCM lost $225 million...???
"Excel Markets: Critical - Open Positions Must be Closed" http://www.forexfactory.com/news.php?do=news&id=521855
  • #50,052
  • Jan 15, 2015 7:55pm Jan 15, 2015 7:55pm
Take another red pill....
The rabbit hole is deeper than we all read in reports...
News published in forum calendars are history by the time they are stated for release.
Even when we know that there is news release, what can we do being small retail traders.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #50,053
  • Jan 15, 2015 8:06pm Jan 15, 2015 8:06pm
Quoting emmanuel7788
Take another red pill.... The rabbit hole is deeper than we all read in reports... News published in forum calendars are history by the time they are stated for release. Even when we know that there is news release, what can we do being small retail traders.

E,

If you're referring to the post directly above... that link is not to a "news event" that would've been on the FF.com calendar. It's a link to a news article regarding the losses and potential bankruptcy of different brokers. If a broker goes bankrupt, taking their client money with them, and one of those clients is a TMS thread member, it most certainly NOT history by the time that trader learns that his / her money is gone.
  • #50,054
  • Jan 15, 2015 8:10pm Jan 15, 2015 8:10pm
Quoting likica
{quote} CHF news caused lots of people in pain and I can't sleep thinking about what would happen to any of us here if GBP or AU or US bust out such news?), Came back to turn my pc on again and happened to read this quote making me . ya know why cos you cook fish so you have to see dead fish. Hope everyone is well. Goodnight/good day to u all.
Well said likica! I have been reading some horrible stories - traders are on the edge and we must be sensitive here - it could have easily been us in this situation. This is not the usual procedure of news release as per trading fx - if this could happen any time surely most traders would quite fx - i would!
  • #50,055
  • Jan 15, 2015 8:23pm Jan 15, 2015 8:23pm
Quoting sknight1
{quote} E, If you're referring to the post directly above... that link is not to a "news event" that would've been on the FF.com calendar. It's a link to a news article regarding the losses and potential bankruptcy of different brokers. If a broker goes bankrupt, taking their client money with them, and one of those clients is a TMS thread member, it most certainly NOT history by the time that trader learns that his / her money is gone.
That is right SK - they will simply close all open orders and will not give you a chance to manage your trades...
  • #50,056
  • Jan 15, 2015 8:39pm Jan 15, 2015 8:39pm
Quoting griffinssoul
{quote} That is right SK - they will simply close all open orders and will not give you a chance to manage your trades...

And if they go bankrupt... they close their doors and whatever money you, as a client, had left.... is GONE !
  • #50,057
  • Jan 15, 2015 8:39pm Jan 15, 2015 8:39pm
Here's a 100 pip total between three jpy pairs tonight. Just closed and cleared profit.

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  • #50,058
  • Jan 15, 2015 8:43pm Jan 15, 2015 8:43pm
Quoting sknight1
Here's a 100 pip total between three jpy pairs tonight. Just closed and cleared profit. {image}
Perfect SK! I see you dropped down to the 15M/30M... LOL! Yeah, same here cause you can see PA nicely...
  • #50,059
  • Jan 15, 2015 8:50pm Jan 15, 2015 8:50pm
Quoting griffinssoul
{quote} Perfect SK! I see you dropped down to the 15M/30M... LOL! Yeah, same here cause you can see PA nicely...

I didn't actually "change" time frames.... I take a pre-defined setup, according to my rules, regardless of the timeframe on which I find it.
  • #50,060
  • Jan 15, 2015 8:52pm Jan 15, 2015 8:52pm
Quoting sknight1
{quote} I didn't actually "change" time frames.... I take a pre-defined setup, according to my rules, regardless of the timeframe on which I find it.
So you look for a set candle pattern on a given TF? Do share
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