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Trading Made Simple

  • #55,221
  • Mar 25, 2015 4:32am Mar 25, 2015 4:32am
Quoting mordin
{quote} Thank you Emmanuel, you always help me a lot and I'm still struggling I'm trading the D1, H4 and sometimes H1. H1 only if the tdi cross > mbl for long, tdi cross < mbl for shorts,and PAC (above for long, below for shorts) Sometimes if I see that H4 is about to give a signal, I drop to the H1 and see if there's a signal already. I entered at the H4 candle publication. Yesterday I closed an incredible trade for +150 pips, and on the same day I lost all the profit in another trades that also were losers. Will take into account what...

Hi Mordin,

Let me suggest one thing here. The drawdown 12% can be recovered over the next 20 trading days.
Focus on GBPNZD and trade the Daily chart TF.

Do not trade all three pairs - GBPAUD, GBPCAD and GBPNZD because they move in the same direction and when we are wrong, then we are caught 3 times.
Just focus on trading GBPNZD from today onwards and follow the Monthly and Weekly direction.

Study the volatility of these three pairs at the website link below.
https://www.mataf.net/en/tools/02-01-volatility

Next thing is to do your top down analysis / big picture plan to trade the D1 chart. Look at the D1 chart and then plan your entry on H1 at any time of the Day according to your own trading hours. Look for the intraday retracement using H1 chart during the day. Then plant your sell order carefully and know where to place your initial SL. Do not enter at full risk but use smaller % risk and as the trade develops in your favour, protect each open trade and add on new positions progressively on each new day.

Lets' look at the market on daily basis and I will try provide my daily update view on GBPNZD. Today we already missed a sell add-on entry therefore we wait for tomorrow.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #55,222
  • Mar 25, 2015 5:02am Mar 25, 2015 5:02am
Wow, that's really awesome Emmanuel! I'll take advantage of this as well!

Thank you so much for all the time and effort you put into teaching us newbies, it's really appreciated!


Quoting emmanuel7788
{quote} Hi Mordin, Let me suggest one thing here. The drawdown 12% can be recovered over the next 20 trading days. Focus on GBPNZD and trade the Daily chart TF. Do not trade all three pairs - GBPAUD, GBPCAD and GBPNZD because they move in the same direction and when we are wrong, then we are caught 3 times. Just focus on trading GBPNZD from today onwards and follow the Monthly and Weekly direction. Study the volatility of these three pairs at the website link below. https://www.mataf.net/en/tools/02-01-volatility Next thing is to do your...
  • #55,223
  • Mar 25, 2015 5:26am Mar 25, 2015 5:26am
Hi Guys,


Just wanted to also throw this out as well... If your new to the thread and really serious about learning how to trade Forex through TMS, your doing yourself a huge disservice by not going into the attachments and reading everything you can find from Emmanuel.

Also, Phx62 stuff is really good as well.. lots of good posters here not disrespect meant to anyone else, but if you study the pdfs that have been created on these guys you will certainly have a huge head start.

Finally, if I can recommend something else, focus on one pair for awhile, it really helps you filter out the noise, some guys follow a dozen currency pairs or more, that can seem overwhelming, focus on quality entries etc on one pair first, trust me, its all you need to make a decent return anyway.

That being said, nice LO on the Eur.Jpy, got 30 pips and am now enjoying a beautiful spring morning with a cup of tea
  • #55,224
  • Mar 25, 2015 5:32am Mar 25, 2015 5:32am
Quoting Andyvix833
Hi Guys, Just wanted to also throw this out as well... If your new to the thread and really serious about learning how to trade Forex through TMS, your doing yourself a huge disservice by not going into the attachments and reading everything you can find from Emmanuel. Also, Phx62 stuff is really good as well.. lots of good posters here not disrespect meant to anyone else, but if you study the pdfs that have been created on these guys you will certainly have a huge head start. Finally, if I can recommend something else, focus on one pair for awhile,...
Couldn't agree more...

I'll add, if you're new to Forex, go through Babypips school first. This will give you the basics of Forex. Then focus on the PDF's from the seniors in the attachments. Eelfranz, Emmanuel, Phx62, Snarlyjack, Lastingwell, etc.

Also agree that following one pair is a great place to start on demo. I would add, that focussing on one pair, one timeframe and one trading session really helped me simplify things further. Then its just a case of practice, practice and more practice!!
Focus on the process and the profits will follow
  • #55,225
  • Mar 25, 2015 6:31am Mar 25, 2015 6:31am
Today is a choppy market except EU,i got nothing but -73 pips losses.......
  • #55,226
  • Mar 25, 2015 7:10am Mar 25, 2015 7:10am
Quote
Today is a choppy market except EU,i got nothing but -73 pips losses.......

Me too so far -5.63. it's okay bcoz i'm demoing
Winners Never Quit, Quitters Never Win
  • #55,227
  • Mar 25, 2015 7:28am Mar 25, 2015 7:28am
GU _ H1 + 50 closed long and now into short trade currently set to BE
Attached Image (click to enlarge)
Click to Enlarge Name: GU_H1.jpg Size: 384 KB
I Have Learned to Take Some Losses to Make Profits
  • #55,228
  • Mar 25, 2015 7:53am Mar 25, 2015 7:53am
Reached target
Attached Image (click to enlarge)
Click to Enlarge Name: GU_H1_Sell.jpg Size: 348 KB
I Have Learned to Take Some Losses to Make Profits
  • #55,229
  • Mar 25, 2015 8:57am Mar 25, 2015 8:57am
If i want to focus on one pair to trade ,can anyone with lots of skills to remommend me to choose which pair to practice?
EU or GU or other pairs?
  • #55,230
  • Mar 25, 2015 11:27am Mar 25, 2015 11:27am
Quoting TheScorpS
Reached target {image}
Hi TSS

Please can you give some more details on setup/ reasons of this trade. or you took this on 15 min TF basis..

thanks
  • #55,231
  • Mar 25, 2015 1:31pm Mar 25, 2015 1:31pm
Quoting mkfx
{quote} Hi TSS Please can you give some more details on setup/ reasons of this trade. or you took this on 15 min TF basis.. thanks
Looks like a pinbar setup?

I love trading with price action, but i struggle with pinbars, i have no idea why they do not work, does anybody know a detailed explanation for trading with pinbars? I used these rules for a pinbar setup so far, correct me:

- Pinbar candle bigger than/ equal to the previous candles
- Wick touched SR Level
- Wick at least 3 times bigger than body
  • #55,232
  • Mar 25, 2015 1:51pm Mar 25, 2015 1:51pm
Quoting Bernardi
{quote} Looks like a pinbar setup? I love trading with price action, but i struggle with pinbars, i have no idea why they do not work, does anybody know a detailed explanation for trading with pinbars? I used these rules for a pinbar setup so far, correct me: - Pinbar candle bigger than/ equal to the previous candles - Wick touched SR Level - Wick at least 3 times bigger than body
The following document is in the paperclip . . . worth the read.

N.
Attached File(s)
File Type: pdf Pin bars-introduction.pdf   175 KB | 800 downloads
  • #55,233
  • Mar 25, 2015 2:02pm Mar 25, 2015 2:02pm
Quoting Nik-Nyc
{quote} The following document is in the paperclip . . . worth the read. N. {image}
Thats a good one, Thanks!
  • #55,234
  • Mar 25, 2015 2:10pm Mar 25, 2015 2:10pm
Quoting emmanuel7788
{quote} Hi Mordin, Let me suggest one thing here. The drawdown 12% can be recovered over the next 20 trading days. Focus on GBPNZD and trade the Daily chart TF. Do not trade all three pairs - GBPAUD, GBPCAD and GBPNZD because they move in the same direction and when we are wrong, then we are caught 3 times. Just focus on trading GBPNZD from today onwards and follow the Monthly and Weekly direction. Study the volatility of these three pairs at the website link below. https://www.mataf.net/en/tools/02-01-volatility Next thing is to do your...
Dear Emman,

On the D1 chart, it looks like the candles are completing its bearish movement and on W1 to its support and seems like a lower sell if its late entry if its nearing to month end too?
  • #55,235
  • Mar 25, 2015 2:27pm Mar 25, 2015 2:27pm
GBPNZD a quick outlook as of 26 Mar Sydney open.

MN view
Attached Image (click to enlarge)
Click to Enlarge Name: GBPNZD MN view 25 Mar.png Size: 51 KB

Note the MN is in wide range.

W1 view
Attached Image (click to enlarge)
Click to Enlarge Name: GBPNZD W1 view 25 Mar.png Size: 49 KB

Weekly is rather bearish with consecutive week down and now hitting the MN historical close level.

D1 view
Attached Image (click to enlarge)
Click to Enlarge Name: GBPNZD D1view 25 Mar.png Size: 66 KB


Looking at the D1 chart above, we have a bullish day close yesterday and the Day bias is against the Weekly bias. There is no bullish reversal seen yet, too early.
I will not trade on D1 chart today but will wait and see how the D1 will close today.
Intraday traders can trade on H1 based on this D1 bullish bias but must look out for the previous week's OHLC, especially last week Low and Close.

Overall, we are trading the month end with only 4 trading days left. And with current price action at historical price swing levels, it will be choppy.

Trade with caution.

Check the volatility range for this pair and prepare for next 20-days trading cycle.

I will be back when London open.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #55,236
  • Mar 25, 2015 2:33pm Mar 25, 2015 2:33pm
Quoting bigcakex
If i want to focus on one pair to trade ,can anyone with lots of skills to remommend me to choose which pair to practice? EU or GU or other pairs?

No one will dare reply you ...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #55,237
  • Mar 25, 2015 2:48pm Mar 25, 2015 2:48pm
Quoting emmanuel7788
GBPNZD a quick outlook as of 26 Mar Sydney open. MN view {image} Note the MN is in wide range. W1 view {image} Weekly is rather bearish with consecutive week down and now hitting the MN historical close level. D1 view {image} Looking at the D1 chart above, we have a bullish day close yesterday and the Day bias is against the Weekly bias. There is no bullish reversal seen yet, too early. I will not trade on D1 chart today but will wait and see how the D1 will close today. Intraday traders can trade on H1 based on this D1 bullish bias but must look...
Thank you for sharing your analysis. I was going to open a short trade, because I saw that D1,W1 and MN1 were bearish, but didn't notice about the resistance, so I'll wait for a clear reversal to open D1. Tomorrow will check if there's some H4 action.
Had to be me. Someone else might have gotten it wrong.
  • #55,238
  • Mar 25, 2015 2:51pm Mar 25, 2015 2:51pm
Quoting emmanuel7788
{quote} No one will dare reply you ...
I don't have "lots of skills" but can try and help

The pair you choose should depend on the trading sessions you'll be trading. That is, if you're talking about trading intra-day (M15, M30, H1 etc.). For example, I trade the London session and personally I would only be considering trading EUR or GBP pairs during this period. To narrow it down further, look at the Average Daily Range (ADR) of these pairs. The higher the ADR the better. EU and GU are both popular. Also many traders in here follow EA, EJ, GA, GJ so these might be worth a look.

If you're trading longer timeframes (H4, D1 etc.) you'll need a lot of patience to stick to one pair in order to wait for the best setups. I believe most of the successful longer timeframe traders using TMS (Emmanuel, Snarlyjack, Britpip etc.) monitor several pairs.

Hope this helps!
Focus on the process and the profits will follow
  • #55,239
  • Mar 25, 2015 2:57pm Mar 25, 2015 2:57pm
Quoting emmanuel7788
GBPNZD a quick outlook as of 26 Mar Sydney open. MN view {image} Note the MN is in wide range. W1 view {image} Weekly is rather bearish with consecutive week down and now hitting the MN historical close level. D1 view {image} Looking at the D1 chart above, we have a bullish day close yesterday and the Day bias is against the Weekly bias. There is no bullish reversal seen yet, too early. I will not trade on D1 chart today but will wait and see how the D1 will close today. Intraday traders can trade on H1 based on this D1 bullish bias but must look...

Thank you once again

I am following this like a die-hard fan on GBPNZD. Got to be smarter than the market with a laser sharp focus and win my losses back in APRIL!!!!!
  • #55,240
  • Mar 25, 2015 6:30pm Mar 25, 2015 6:30pm
Quoting Ballistical
{quote} I don't have "lots of skills" but can try and help The pair you choose should depend on the trading sessions you'll be trading. That is, if you're talking about trading intra-day (M15, M30, H1 etc.). For example, I trade the London session and personally I would only be considering trading EUR or GBP pairs during this period. To narrow it down further, look at the Average Daily Range (ADR) of these pairs. The higher the ADR the better. EU and GU are both popular. Also many traders in here follow EA, EJ, GA, GJ so these might be worth a look....
Thanks for your help, Ballistical.and i am also sorry for the words i used in my post.
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