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Trading Made Simple

  • #55,261
  • Mar 26, 2015 5:46am Mar 26, 2015 5:46am
Closing manually:
- GBP/NZD long -52 pips
- GBP/AUD long -77.7 pips
- EUR/NZD long -52.3 pips


Congrats omonisha, TSS, nice trades!
Had to be me. Someone else might have gotten it wrong.
  • #55,262
  • Mar 26, 2015 5:58am Mar 26, 2015 5:58am
Quoting mordin
Closing manually: - GBP/NZD long -52 pips - GBP/AUD long -77.7 pips - EUR/NZD long -52.3 pips Congrats omonisha, TSS, nice trades!

what is missing?
a trading plan or trading discipline?
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #55,263
  • Mar 26, 2015 6:13am Mar 26, 2015 6:13am
Quoting emmanuel7788
{quote} what is missing? a trading plan or trading discipline?
I just trade what the market tell me... There was consolidation on the 4H, but on D1 was trending, so I entered to follow the trend. If I were in a trade at that point, it would be when I add a position.

Yesterday got stopped out because I had small SL, today I put a bigger SL, but with reduced position size... no success.

Had to be me. Someone else might have gotten it wrong.
  • #55,264
  • Mar 26, 2015 6:17am Mar 26, 2015 6:17am
Quoting emmanuel7788
{quote} Exit @1.1020 (+40 pips) as keeping in mind the master candle and just before the 1.1033 of the weekly candle range. Regards.Well, I had my h1 trade taken yesterday and got +25pips. Last night, i move my initial SL to BE and left the trade open with my TP exit set at the high of the Master Candle.... that is the resistance of the MC range. Today I got my 100pips. {image} EU is still a good pair to trade intraday with its recent increased volatility range. Keep your trading rules simple when day trading H1. Buy only when PA is above the 50EMA and above the 200EMA. this happen this week. It does not happen every week, but when it does, you simply follow simple rules. That the beauty of the 5-Method and why it is named Trading Made Simple.
Emmanuel, is it an IB indi u are using for entrys in above post?
Regards
Regards
  • #55,265
  • Mar 26, 2015 6:25am Mar 26, 2015 6:25am
Quoting fulltilt
{quote} Emmanuel, is it an IB indi u are using for entrys in above post? Regards
Hi,

No. I look at the H1 and see where the H4 high-low for every 4 x H1 candle.
this way, we can also see the H4 IB on H1 chart.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #55,266
  • Mar 26, 2015 6:29am Mar 26, 2015 6:29am
Trading this spot forex market is very tricky business.

With all the nice indicators on our charts and tools like dashboard, monitors, etc.

the market is not what we see ....

Attached Image (click to enlarge)
Click to Enlarge Name: market views what is.png Size: 1.1 MB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #55,267
  • Mar 26, 2015 7:14am Mar 26, 2015 7:14am
GBPUSD-D1... Struggling to go up. over a week closing below RN-1.5000. Today again testing RN-1.5000. It is also a recent low/ MN Low area.
Attached Image (click to enlarge)
Click to Enlarge Name: 2015-03-26_18-05-24GBPUSD.png Size: 55 KB
Sad i'm not trying to understand PA
  • #55,268
  • Mar 26, 2015 7:37am Mar 26, 2015 7:37am
Took 2 trades today. They didn't reach my target, but anyway, it's a nice profit for today, which also covers my yesterday's loss (-31).
Traget for EUR/AUD was 45 pips and 55 pips for GBP/AUD. Closed manually at +42 pip and +32, when total profit was enough for today. Took EA on LO and after some range it went my way. GA took only after news, because there was no good movement before it. EA almost hits TP, so i closed manually when price didn't reach it for 1 pip and became to pullback. GA is struggling and movement is not really good. So decided to take what i have and forget about it for today.
Attached Image (click to enlarge)
Click to Enlarge Name: EURAUDH1.png Size: 33 KB

Attached Image (click to enlarge)
Click to Enlarge Name: GBPAUDH1.png Size: 33 KB
  • #55,269
  • Mar 26, 2015 7:38am Mar 26, 2015 7:38am
Quoting toledoFX
Took 2 trades today. They didn't reach my target, but anyway, it's a nice profit for today, which also covers my yesterday's loss (-31). Traget for EUR/AUD was 45 pips and 55 pips for GBP/AUD. Closed manually at +42 pip and +32, when total profit was enough for today. Took EA on LO and after some range it went my way. GA took only after news, because there was no good movement before it. EA almost hits TP, so i closed manually when price didn't reach it for 1 pip and became to pullback. GA is struggling and movement is not really good. So decided...
Positive anything is better than negative thinking.- Elbert Hubbard
  • #55,270
  • Mar 26, 2015 7:52am Mar 26, 2015 7:52am
Quoting toledoFX
Took 2 trades today. They didn't reach my target, but anyway, it's a nice profit for today, which also covers my yesterday's loss (-31). Traget for EUR/AUD was 45 pips and 55 pips for GBP/AUD. Closed manually at +42 pip and +32, when total profit was enough for today. Took EA on LO and after some range it went my way. GA took only after news, because there was no good movement before it. EA almost hits TP, so i closed manually when price didn't reach it for 1 pip and became to pullback. GA is struggling and movement is not really good. So decided...
Nice trades again Toledo!

Took identical entry on EA.

Took a while to take off but just closed for +50
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 27 KB
Focus on the process and the profits will follow
  • #55,271
  • Mar 26, 2015 8:16am Mar 26, 2015 8:16am
Quoting Ballistical
{quote} Nice trades again Toledo! Took identical entry on EA. Took a while to take off but just closed for +50 {image}
Great trade as well, mate! Good discipline and patience

Quoting redcloudxlll
{quote}
Thank you!
  • #55,272
  • Mar 26, 2015 8:41am Mar 26, 2015 8:41am
Quoting mordin
Closing manually: - GBP/NZD long -52 pips - GBP/AUD long -77.7 pips - EUR/NZD long -52.3 pips Congrats omonisha, TSS, nice trades!
Sorry for the bad trades. Can you provide us with screenshot from the trades? - i find it hard to see why you are looking long E/N.
MY SITTING, NEVER MY THINKING!
  • #55,273
  • Mar 26, 2015 9:04am Mar 26, 2015 9:04am
GBPAUD-M30
Attached Image (click to enlarge)
Click to Enlarge Name: 2015-03-26_20-02-15GBPAUD.png Size: 32 KB
Sad i'm not trying to understand PA
  • #55,274
  • Mar 26, 2015 9:07am Mar 26, 2015 9:07am
Quoting merrygold
{quote} Sorry for the bad trades. Can you provide us with screenshot from the trades? - i find it hard to see why you are looking long E/N.
Thanks, don't worry, it's all my fault.

I post now E/N, and if I don't forget later I could post the others.

Attached Image


I've used this entry other times, and it worked. On the current timeframe is like a flag. Upmove - consolidation - upmove. I expected an upmove because the higher time frame was trending up.

Thanks
Had to be me. Someone else might have gotten it wrong.
  • #55,275
  • Mar 26, 2015 9:13am Mar 26, 2015 9:13am
Quoting mordin
{quote} Thanks, don't worry, it's all my fault. I post now E/N, and if I don't forget later I could post the others. {image} I've used this entry other times, and it worked. On the current timeframe is like a flag. Upmove - consolidation - upmove. I expected an upmove because the higher time frame was trending up. Thanks
You really think that entering on the 8th (!!!) candle of the same color is a good idea? I am sorry, but that's gambling...
  • #55,276
  • Mar 26, 2015 9:29am Mar 26, 2015 9:29am
Quoting toledoFX
{quote} You really think that entering on the 8th (!!!) candle of the same color is a good idea? I am sorry, but that's gambling...
Thank you for your comments. For this type of entry, I looked at the old charts, and seems to work most times. I attach a picture of the same pair:

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 59 KB


I think it worked those times
Had to be me. Someone else might have gotten it wrong.
  • #55,277
  • Mar 26, 2015 9:43am Mar 26, 2015 9:43am
Quoting mordin
{quote} Thank you for your comments. For this type of entry, I looked at the old charts, and seems to work most times. I attach a picture of the same pair: {image} I think it worked those times
Really, i hear about such a strategy for the first time... Why you decided that pullback means only continuation of the trend? There are much more loss opportunities on your example, than winning. Look better at your picture. Why you mark only winning opportunities? If you want to trade this way, maybe you need some other filters and some other confirmations?
  • #55,278
  • Mar 26, 2015 10:03am Mar 26, 2015 10:03am
Quoting toledoFX
{quote} Really, i hear about such a strategy for the first time... Why you decided that pullback means only continuation of the trend? There are much more loss opportunities on your example, than winning. Look better at your picture. Why you mark only winning opportunities? If you want to trade this way, maybe you need some other filters and some other confirmations?
Why are you criticising his method.... he has stated that it works most times, so whats wrong with most times?
  • #55,279
  • Mar 26, 2015 10:21am Mar 26, 2015 10:21am
Quoting toledoFX
{quote} Really, i hear about such a strategy for the first time... Why you decided that pullback means only continuation of the trend? There are much more loss opportunities on your example, than winning. Look better at your picture. Why you mark only winning opportunities? If you want to trade this way, maybe you need some other filters and some other confirmations?

I don't consider it a strategy, rather is like an easy way for me to enter (or add position) on trend continuations, or enter in the same direction of the HTF.
I entered on the pullback to obtain a better price.

I'm not 100% convinced, but I always miss the breakouts for continuations, so this is a way to anticipate.

Would it be better to just switch to the HTF and then switch back to my TF?

apart from entries on consolidations which are so-so, I use it to filter bad trades.

Thanks
Had to be me. Someone else might have gotten it wrong.
  • #55,280
  • Mar 26, 2015 10:24am Mar 26, 2015 10:24am
Quoting Landline
{quote} Why are you criticising his method.... he has stated that it works most times, so whats wrong with most times?
Don't worry, although I'm very insecure with my skills, and I can doubt about methods anytime lol.

It works most times, but I don't always take the trade because of fear, so not 100% sure. When it fails, the loss tends to be huge.
Had to be me. Someone else might have gotten it wrong.
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