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Trading Made Simple

  • #51,921
  • Edited 11:27pm Jan 30, 2015 9:27pm | Edited 11:27pm
Quoting mch1970
{quote} Nice trades likica - what ADR indicator are you using. Is it in the paperclip. Thanks
Hi mch1970, sorry I missed your quote.
Here is the indie for you named ADR_v2
Attached File(s)
File Type: ex4 ADR_v2.ex4   11 KB | 575 downloads
Appreciation is the key to wealth and happiness
  • #51,922
  • Jan 30, 2015 9:45pm Jan 30, 2015 9:45pm
Quoting sknight1
$10 says Likica is long EA & GA right now, & up 50 pips each.
just having time reading post and found your bet. You won as I was in both and got killed by EA for entering at the wrong place (at YH and ATR projection up), I am looking at it and wondering what was on my mind at that moment...? come to clean the bin as I had too much on the day before ? and forgot about Friday and end of the month? GA did well right at ATR
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 30.1.15 EA trade - (facing ATR).png Size: 78 KB
Click to Enlarge Name: 30.1.15 GA trade +.png Size: 87 KB
Appreciation is the key to wealth and happiness
  • #51,923
  • Jan 30, 2015 10:59pm Jan 30, 2015 10:59pm
How do you manage the DOTS indicator in terms of chart drawing and things like that? I explain myself: Right now I have three identical profiles, TMS LO, TMS TO and TMS NY. The three of them have the same indicators, but the DOTS is configured for each session. If I draw a fibonacci retracement for example in TMS LO, and then I move to the NY session, I have to draw it again, which is quite tedious (besides making 3x changes if I add an indicator). So, guys, what is your approach to managing DOTS session changes? Hope my question is clear. Thanks!
Had to be me. Someone else might have gotten it wrong.
  • #51,924
  • Jan 30, 2015 10:59pm Jan 30, 2015 10:59pm
Quoting likica
{quote} just having time reading post and found your bet. You won as I was in both and got killed by EA for entering at the wrong place (at YH and ATR projection up), I am looking at it and wondering what was on my mind at that moment...? come to clean the bin as I had too much on the day before ? and forgot about Friday and end of the month? GA did well right at ATR {image} {image}
I decided to give up on yesterday. 😡
Intelligence is the ability to adapt to change. Stephen Hawking
  • #51,925
  • Jan 30, 2015 11:24pm Jan 30, 2015 11:24pm
Quoting cigarguy
{quote} Congrats!! Good scalping
Hi Cigarguy,
Do you use SL for your scalping strategy?

Thanks
Lydia
  • #51,926
  • Jan 31, 2015 1:25am Jan 31, 2015 1:25am
Quoting mordin
How do you manage the DOTS indicator in terms of chart drawing and things like that? I explain myself: Right now I have three identical profiles, TMS LO, TMS TO and TMS NY. The three of them have the same indicators, but the DOTS is configured for each session. If I draw a fibonacci retracement for example in TMS LO, and then I move to the NY session, I have to draw it again, which is quite tedious (besides making 3x changes if I add an indicator). So, guys, what is your approach to managing DOTS session changes? Hope my question is clear. Thanks!...
Hi mordin,

Using the DOTS indicator, it will plot several Buy TP and Sell TP price levels for you to trade with. So why do you want to use Fibonacci?

You need to decide what your trading hours are and make a firm decision which market session you want to set your DOTS indicator for use.
If you are trading the London session, then set that as your Day Open in DOTS.
I set my DOTS according to Sydney Open and that is also my broker' open hour(GMT+2). There is no a lot of difference is I use Sydney open or Tokyo Open.
That is how I keep it simple.

Attached Image (click to enlarge)
Click to Enlarge Name: DOTS different market session.png Size: 74 KB


regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #51,927
  • Jan 31, 2015 1:47am Jan 31, 2015 1:47am
Quoting emmanuel7788
{quote} Hi mordin, Using the DOTS indicator, it will plot several Buy TP and Sell TP price levels for you to trade with. So why do you want to use Fibonacci? You need to decide what your trading hours are and make a firm decision which market session you want to set your DOTS indicator for use. If you are trading the London session, then set that as your Day Open in DOTS. I set my DOTS according to Sydney Open and that is also my broker' open hour(GMT+2). There is no a lot of difference is I use Sydney open or Tokyo Open. That is how I keep it simple....
Thank you for your answer. Fib was just an example to illustrate my question, so be it a Fib, a trendline, channel, whatever. Any kind of drawing basically.
I trade 4H, so I catch two different sessions and usually the last candle of TO session, because it is not a hassle for me to check every four hours as long as I'm not sleeping. If I traded 1H, I would indeed pick a session, but it is not the case.

Thanks again.
Had to be me. Someone else might have gotten it wrong.
  • #51,928
  • Jan 31, 2015 2:03am Jan 31, 2015 2:03am
I also created a template for dots for London and New York... I load the London Template on EUR and GBP crosses - and New York template on USD crosses... seems to work pretty well for what i can say by now. Only problem is, i have to reload the template everyday because DOTS does not show the correct levels when a new session opens.
  • #51,929
  • Jan 31, 2015 2:04am Jan 31, 2015 2:04am
Quoting mordin
{quote} Thank you for your answer. Fib was just an example to illustrate my question, so be it a Fib, a trendline, channel, whatever. Any kind of drawing basically. I trade 4H, so I catch two different sessions and usually the last candle of TO session, because it is not a hassle for me to check every four hours as long as I'm not sleeping. If I traded 1H, I would indeed pick a session, but it is not the case. Thanks again.

OK. I understand your question better now.
When you draw any objects on the charts, those objects remains only in that charts. Those objects can be saved in one chart template which you can call up later and apply the DOTS indicator. It is troublesome to do this.

DOTS levels are calculated based on market price volatility and the base-level is the market session open. It not possible to add more levels in the DOTS indicator without the mq4 file.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #51,930
  • Jan 31, 2015 2:35am Jan 31, 2015 2:35am
Quoting likica
{quote} Hi mch1970, sorry I missed your quote. Here is the indie for you named ADR_v2 {file}
Great - many thanks
  • #51,931
  • Jan 31, 2015 2:44am Jan 31, 2015 2:44am
USDJPY- Weekly closed with 2 IB. On D1 a descending wedge. If to trade short should we enter on the break of the IB's or we wait for the MC to break ?
Attached Image(s) (click to enlarge)
Click to Enlarge Name: USDJPY_WK_SYMERGY.png Size: 49 KB
Click to Enlarge Name: USDJPY_D1_SYNERGY.png Size: 59 KB
Sad i'm not trying to understand PA
  • #51,932
  • Edited 3:43am Jan 31, 2015 3:25am | Edited 3:43am
Quoting omonisha
USDJPY- Weekly closed with 2 IB. On D1 a descending wedge. If to trade short should we enter on the break of the IB's or we wait for the MC to break ? {image} {image}
Hi omonisha, i see a near perfect 5 wave (impulse) move up with classic correction characteristics - 61.8 (wave-2) and 38.2 (wave-4) - the first is simple the second is complicated, as we all well know. From here we are to move into an impulse 5th wave breaking the (wave-3) pivot high. Notice that the angle of the first impulse wave is less than the angle of the second (wave-3). Also note that the 3rd wave is the longest by price In short, i believe your flag/wedge is a Bull perhaps? That said it has over 100pips of movement (jumping around) each way
Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 44 KB
  • #51,933
  • Jan 31, 2015 4:09am Jan 31, 2015 4:09am
Quoting likica
{quote} just having time reading post and found your bet. You won as I was in both and got killed by EA for entering at the wrong place (at YH and ATR projection up), I am looking at it and wondering what was on my mind at that moment...? come to clean the bin as I had too much on the day before ? and forgot about Friday and end of the month? GA did well right at ATR {image} {image}
Likica, don't you use stops? Quite a bit of drawdown on E/A trading hourly chart
the cautious seldom err....C
  • #51,934
  • Jan 31, 2015 4:26am Jan 31, 2015 4:26am
Quoting omonisha
USDJPY- Weekly closed with 2 IB. On D1 a descending wedge. If to trade short should we enter on the break of the IB's or we wait for the MC to break ? {image} {image}

Here is my view and how I will be looking for the breakout of the Day master candle consolidation breakout.
Be careful with next week's NFP.

Attached Image (click to enlarge)
Click to Enlarge Name: USDJPY D chart trading Feb 2015.png Size: 109 KB


Trade Well and Trade Safe
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #51,935
  • Jan 31, 2015 4:58am Jan 31, 2015 4:58am
Quoting omonisha
USDJPY- Weekly closed with 2 IB. On D1 a descending wedge. If to trade short should we enter on the break of the IB's or we wait for the MC to break ? {image} {image}
I don't think there is a master candle on the weekly. However there is one on the daily which Emmanuel rightly pointed out
the cautious seldom err....C
  • #51,936
  • Jan 31, 2015 5:21am Jan 31, 2015 5:21am
Quoting pips29
{quote} I don't think there is a master candle on the weekly. However there is one on the daily which Emmanuel rightly pointed out

Hi pips;

There is definitely a perfect Weekly Control Candle on the USD/JPY chart
Attached Image (click to enlarge)
Click to Enlarge Name: 31st Jan 15 USD:JPY W1 Chart.png Size: 73 KB
  • #51,937
  • Jan 31, 2015 5:59am Jan 31, 2015 5:59am
Quoting griffinssoul
{quote} Hi omonisha, i see a near perfect 5 wave (impulse) move up with classic correction characteristics - 61.8 (wave-2) and 38.2 (wave-4) - the first is simple the second is complicated, as we all well know. From here we are to move into an impulse 5th wave breaking the (wave-3) pivot high. Notice that the angle of the first impulse wave is less than the angle of the second (wave-3). Also note that the 3rd wave is the longest by price In short, i believe your flag/wedge is a Bull perhaps? That said it has over 100pips of movement (jumping...
Awsome excellent wave analysis griffinsoul thanks for sharing

Quoting emmanuel7788
{quote} Here is my view and how I will be looking for the breakout of the Day master candle consolidation breakout. Be careful with next week's NFP. {image} Trade Well and Trade Safe
Thanks for the input EMU
Sad i'm not trying to understand PA
  • #51,938
  • Edited 6:54am Jan 31, 2015 6:39am | Edited 6:54am
Quoting lydia
{quote} Hi Cigarguy, Do you use SL for your scalping strategy? Thanks Lydia
lydia,

Once I enter my position, I have an EA that manages my TP and SL. Because I am trading at a low and fast t/f (M5 or M15) I set my EA for a small 5 pip profit (trading with multiple lots) and a 10 pip hidden stop loss (PA rarely hits my hidden stop as I will close manually if it reverses so the R:R is not an issue) and watch my trade to quickly close if it goes against me. Some find this type of scalping too stressful but I have been doing it for many years and have found that I it works well for me with little stress.

Good trading and happy to answer any questions......
Keep It Simple
  • #51,939
  • Jan 31, 2015 6:55am Jan 31, 2015 6:55am
Quoting stevepatt
{quote} Hi pips; There is definitely a perfect Weekly Control Candle on the USD/JPY chart {image}
Dont trade USDJPY yet. I believe it will be in consolidation for a while. I see unusual high correlation b/w USD and JPY indices in the hourly whole week last week. I theorize this is due to abandonment of CHF investors as safe haven, they are moving to USD or JPY.
  • #51,940
  • Jan 31, 2015 7:13am Jan 31, 2015 7:13am
Quoting robcole
hi there, ...To show other newbies of this system that success with it is not impossible i show my stats for 1,5 month (so long i trade TMS): {image} So, stay green and have a nice weekend !!! greetings robcole
Quoting faktmany
End of the month to summarize: Start Trading exactly 3 weeks ago. Aggressive trading method. I must say - I like it more than! {image}
Quoting Ballistical
2015 Week 5 - Trade Summary: 5 trades in total: - 2 win - 2 BE - 1 Loss A total of 75 pips this week. +6% on the account.{image} {image}
Quoting ladharimoham
Positive Week : +220 pips (14 trades) , I would thanks all who help us to make a positive results , Thank you all ... {image}
Hi guys - great management of your trading portfolios - growth through meticulous management is the core to consistency - congrats

January 2015: +1157pips (464 heavy & 693 light) - 84% win : W2 was the best W cause things seemed like they were getting back to normal, then we got hit by weird PA and i had to re-adjust accordingly (tightened up basically)

W1: +259pips
W2: +441pips
W3: +246pips
W4: +221pips
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