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Trading Made Simple

  • #54,161
  • Feb 27, 2015 7:24am Feb 27, 2015 7:24am
Quoting Pervis
{quote} Two EA trade today, both at BE {image}
Can i ask how do you handle your SL's?
  • #54,162
  • Feb 27, 2015 7:28am Feb 27, 2015 7:28am
A lot of trading is being able to "visualize".
For example the aud/usd chart. I can visualize
it rolling over (it's not ready yet) but I'm watching
it & visualizing the move.

The problem with this trade is: You would be trading
"into" the daily open line. But on the smaller time frames,
you want to know where everything is!
sj
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSDM30.png Size: 57 KB
  • #54,163
  • Feb 27, 2015 7:28am Feb 27, 2015 7:28am
Quoting snarlyjack
{quote} Cigarguy, Their is a lot to be said for your style of trading. Get in...make your pips...and get out... In a way it's a low risk way of trading. All you gotta do is know exactly what your doing and do it. Congrat's sj
sj,

Thanks... Well as you know each traders must find what works for them. Like you, I have been around awhile and traded about every style/method out there and scalping is just the style and t/f's that work for me. Some find trading lower t/f's stressful and to the contrary, I find it very easy to make 5 or 10 quick pips with bigger lots rather then go for mega pips. Many here do make great big pips trades on the H1 & H4 t/f's but that tends to be more stressful for me watching higher t/f charts all day.

Anyway, just my style.......Stay GREEN My Friend!

Case in point. Look what happened here on the EU right after I closed my long scalp. Probably stopped out or taken a loss instead of the +9.5 (5 lots standard).....
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDiM5 tms.png Size: 80 KB
Keep It Simple
  • #54,164
  • Feb 27, 2015 7:36am Feb 27, 2015 7:36am
Quoting cigarguy
{quote} sj, Thanks... Well as you know each traders must find what works for them. Like you, I have been around awhile and traded about every style/method out there and scalping is just the style and t/f's that work for me. Some find trading lower t/f's stressful and to the contrary, I find it very easy to make 5 or 10 quick pips with bigger lots rather then go for mega pips. Many here do make great big pips trades on the H1 & H4 t/f's but that tends to be more stressful for me watching higher t/f charts all day. Anyway, just my style.......Stay...
Cigarguy,

I used to put in my trades in the Asia session & go
to bed using the daily & 4 hour charts. Now I'm finding
myself using all the time frames & intra day a lot more.

I still do both...Their was a big pin bar on the daily on the
usd/jpy a few days ago that I could not resist so I took
a long term short position in it. The usd/jpy has been thrashing around
but I have hi hopes for the usd/jpy breaking down.
sj
  • #54,165
  • Feb 27, 2015 7:39am Feb 27, 2015 7:39am
Is there anyone still use Scott Barkley's 4H heart-line method? It was a popular topic in this thread exactly a year ago.... Just popped up in my mind.
Simplicity is the ultimate sophistication - Leonardo da Vinci
  • #54,166
  • Feb 27, 2015 7:39am Feb 27, 2015 7:39am
Cigarguy,

In your example would you cut bait or ride
through it follow the guppy's for strength?
sj
  • #54,167
  • Edited 7:58am Feb 27, 2015 7:44am | Edited 7:58am
Quoting snarlyjack
{quote} Cigarguy, I used to put in my trades in the Asia session & go to bed using the daily & 4 hour charts. Now I'm finding myself using all the time frames & intra day a lot more. I still do both...Their was a big pin bar on the daily on the usd/jpy a few days ago that I could not resist so I took a long term short position in it. The usd/jpy has been thrashing around but I have hi hopes for the usd/jpy breaking down. sj
sj,

Hope it works out for you in the long run, but as a scalper, I just watch the PASR at the moment and could not care less about news or other outside rhetoric we are feed by brokers and financial wizards. IMO all of that stuff is reflected in the PA and I just watch and trade my charts as they tell the real story. No TV's or news for me just the charts leading the way....
Keep It Simple
  • #54,168
  • Feb 27, 2015 7:49am Feb 27, 2015 7:49am
Quoting snarlyjack
Cigarguy, In your example would you cut bait or ride through it follow the guppy's for strength? sj
sj,

On that trade, I just entered a scalp trade on the bounce from the 1.12250 level with a small target of about 10 pips in the 1.12500 area but closed early as PA stalled at LO, and luckily I did because down she went after I closed with a +9.5....just watching that trade closely and how the candles are moving....If I see a stall near a key level or number I will close with either a win or loss and wait for the next scalp set up. The chart I posted above depicts what I mean.

I find small pip trades are easy to mine with good profits and decent size standard lots.....
Keep It Simple
  • #54,169
  • Feb 27, 2015 8:02am Feb 27, 2015 8:02am
Here is a update on the aud/usd that I just
posted. You can just visualize the trades then
wait for the set-up.
sj
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSDM30.png Size: 61 KB
  • #54,170
  • Feb 27, 2015 8:06am Feb 27, 2015 8:06am
Quoting snarlyjack
Here is a update on the aud/usd that I just posted. You can just visualize the trades then wait for the set-up. sj {image}
sj,

Are you entering on the M30 time frame that you trade or drill down to M1 or M5 for a good entry? I ask because that is what I do and do not ignore the larger t/f/s but look at them for support/resistance levels and then drill down for scalp entries....because of the trends within a trend.
Keep It Simple
  • #54,171
  • Feb 27, 2015 8:09am Feb 27, 2015 8:09am
Quoting Vladbold
{quote} Can i ask how do you handle your SL's?
Hi Vladbold, I using EA to handling when I'm not able watching the market (I have daily job at a company, not a full-time trader)

I often set SL and TP at 1:1

Set stop loss to BE after 25-30 pip, for a CT trade I set at BE after 20pip.

As you see, at the first trade price reach 22 pip then reverse. The second trade I set at 30 pip but after I saw the pull-back of Frankfurt candle I closed the trade right after LO open.
  • #54,172
  • Feb 27, 2015 8:11am Feb 27, 2015 8:11am
Quoting cigarguy
{quote} sj, Are you entering on the M30 time frame that you trade or drill down to M1 or M5 for a good entry? I ask because that is what I do and do not ignore the larger t/f/s but look at them for support/resistance levels and then drill down for scalp entries....because of the trends within a trend.
Cigarguy,

I have dropped down to the 15 tf & then monitor
on the 30 tf. The only thing that concerns me is
the spread. I can see with the right pairs (majors,
with a low spread) that it would be very possible
to scalp them. The crosses I'm not so sure. I use
Fxcm...
sj
  • #54,173
  • Feb 27, 2015 8:16am Feb 27, 2015 8:16am
Quoting snarlyjack
{quote} Cigarguy, I have dropped down to the 15 tf & then monitor on the 30 tf. The only thing that concerns me is the spread. I can see with the right pairs (majors, with a low spread) that it would be very possible to scalp them. The crosses I'm not so sure. I use Fxcm... sj
sj,

Yes, the spread can be a problem in re; scalping. I have traded with FXCM, IBFX and others and now pay a flat low commission on each trade that fits my scalping style and allows for good profits....of course NO more can be discussed here about brokers on my end as I am an IB/Partner and closed my Commercial Thread and agreement with FF.
Keep It Simple
  • #54,174
  • Feb 27, 2015 8:27am Feb 27, 2015 8:27am
Cigarguy,

Thank you!
It's the concept that I like...
Once a person gets very good at doing this,
I don't think anyone can stop you from taking
profits from them. That to me is true freedom!
And you can do it for the rest of your life. Playing
the game when your 90 years old, saying to them
stop me if you can...imagine...
sj
  • #54,175
  • Feb 27, 2015 8:37am Feb 27, 2015 8:37am
Quoting snarlyjack
Cigarguy, Thank you! It's the concept that I like... Once a person gets very good at doing this, I don't think anyone can stop you from taking profits from them. That to me is true freedom! And you can do it for the rest of your life. Playing the game when your 90 years old, saying to them stop me if you can...imagine... sj

NO WAY.......
Keep It Simple
  • #54,176
  • Feb 27, 2015 8:38am Feb 27, 2015 8:38am
Quoting Pervis
{quote} Hi Vladbold, I using EA to handling when I'm not able watching the market (I have daily job at a company, not a full-time trader) I often set SL and TP at 1:1 Set stop loss to BE after 25-30 pip, for a CT trade I set at BE after 20pip. As you see, at the first trade price reach 22 pip then reverse. The second trade I set at 30 pip but after I saw the pull-back of Frankfurt candle I closed the trade right after LO open.
Thanks !

Thing is i can't monitor trades all the time. But how does this sound to you :

I usually have a 30-35 pip SL and a 50 pip TP, because the swing high or low on h1 is around that value. If i need a bigger SL, i sometimes feel like i've entered the trade late. So that's why i try to keep at least a 2:1 Tp : SL ratio.

/ rant over.
Noob MM trader here.
  • #54,177
  • Feb 27, 2015 8:39am Feb 27, 2015 8:39am
Aud/usd example:

We just hit our daily open line (first level).
Per Phx62 suggestion, I dropped down to the
15 tf & looked for a "blue apb" for a liquidate sign.
No liquidate out sign...so keep in trade & monitor
on 15 tf.
sj
Attached Image(s) (click to enlarge)
Click to Enlarge Name: AUDUSDM30.png Size: 60 KB
Click to Enlarge Name: AUDUSDM15.png Size: 57 KB
  • #54,178
  • Feb 27, 2015 8:47am Feb 27, 2015 8:47am
And their is our exit on the 15 tf.
The trade dropped down to the daily
open line (hit resistance on the line) & turned
on the 15tf.
sj
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSDM15.png Size: 57 KB
  • #54,179
  • Feb 27, 2015 9:11am Feb 27, 2015 9:11am
One more update.

See how the apb turned blue with a long tail.
Look at how the tdi is hooking up.
Look where price hit the levels.
Visualize the whole move...
See how important the daily open line is &
how price respected it...
sj
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSDM15.png Size: 57 KB
  • #54,180
  • Edited 9:36am Feb 27, 2015 9:19am | Edited 9:36am
Quoting snarlyjack
One more update. See how the apb turned blue with a long tail. Look at how the tdi is hooking up. Look where price hit the levels. Visualize the whole move... sj {image}
sj,

Although the TDI is essential within the TMS method, as you know it is just a visual of the past and current PA and in reality PASR can be traded with a simple chart utilizing APB's or HA's and support and resistance levels only, ie; key levels and 200 EMA. I personally like the Guppys and have traded them for a long time. Basically, when the MA's get tight and PA is in the middle no trade and when they are tight together a decent or big move is to be expected and PASR will show the entry, targets and exits.

The below EU chart; as shown when ema's are tight with price, no trade and as the ema's come together a move can be expected. You can just pick any pair and t/f and scroll back in time and see how they work. Darryl Guppy devised a great indicator and trading system.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDiM15.png Size: 99 KB
Keep It Simple
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