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Trading Made Simple

  • #55,361
  • Mar 30, 2015 2:51am Mar 30, 2015 2:51am
Quoting emmanuel7788
{quote} one of the simpler way to identify and draw support and resistance on our charts is to use the previous months open, high, low and close OHLC. you should see these on H1, H4 and D1 charts. one Big Picture Plan and you trade all three different timeframes. this is the way to make your own blueprint for trading success. {image} what you should look for is the Price Action at these Support and Resistance. Know you SL and TP before you decide to take a trade. {image} https://www.mataf.net/en/tools/02-01-volatility
Emmanuel, what is the best value for AVperiod APB/HA w/ H1 chart?
Regards
Regards
  • #55,362
  • Mar 30, 2015 7:26am Mar 30, 2015 7:26am
+50 on EA H1

Taken on a break of the double top, originally established on Friday.

I watched as the LO candle dropped and pulled back, setting, what looks to be, the low of the session.

With no high impact news today I expect this could keep going higher but I won't be pushing my luck on a Monday.

A good start to the week
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Focus on the process and the profits will follow
  • #55,363
  • Mar 30, 2015 8:06am Mar 30, 2015 8:06am
Quoting Ballistical
+50 on EA H1 Taken on a break of the double top, originally established on Friday. I watched as the LO candle dropped and pulled back, setting, what looks to be, the low of the session. With no high impact news today I expect this could keep going higher but I won't be pushing my luck on a Monday. A good start to the week {image}
hi ballistical i also trade the E/A but i got stopped out by SL got -30 pip the read line is my entry and i got stoped at the 2nd candle...I always has the habit of maintaning my loss to -300 pip...can you help me so my trade didnt get easily stopped by SL but the risk can always be small...should i just let the SL to -50 pip than 30 pip for all pair like E/A G/A E/J G/J etc??
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  • #55,364
  • Mar 30, 2015 8:29am Mar 30, 2015 8:29am
I'm still fighting w/ EJ ... went long from 130.00 which formed an IB after close, not sure if I should keep it open ...
this morn H1 & H4 looked good for long ...
Regards
  • #55,365
  • Mar 30, 2015 9:02am Mar 30, 2015 9:02am
Quoting vayzardos
{quote} hi ballistical i also trade the E/A but i got stopped out by SL got -30 pip the read line is my entry and i got stoped at the 2nd candle...I always has the habit of maintaning my loss to -300 pip...can you help me so my trade didnt get easily stopped by SL but the risk can always be small...should i just let the SL to -50 pip than 30 pip for all pair like E/A G/A E/J G/J etc?? {image}
Place your stop on previous swing high/low. Thats the way im doing it!
MY SITTING, NEVER MY THINKING!
  • #55,366
  • Mar 30, 2015 9:24am Mar 30, 2015 9:24am
GU - H1 ABCD completed , target on this trade slightly above D leg for +50 pips, waited price to settle after a deep retracement, and entered short as soon as price broke below LO H1 candle opens

First chart at the time of opening the trade and second one final target
Attached Image(s) (click to enlarge)
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I Have Learned to Take Some Losses to Make Profits
  • #55,367
  • Mar 30, 2015 10:24am Mar 30, 2015 10:24am
Hi all
I know the clocks altered for the UK yesterday but does anyone know if the rest of Europe altered theirs? or does the Frankfurt candle now open 2 hours before the London open.
I always struggle to get my head around these clock alterations.
Thanks
  • #55,368
  • Mar 30, 2015 10:44am Mar 30, 2015 10:44am
Quoting Next4467
Hi all I know the clocks altered for the UK yesterday but does anyone know if the rest of Europe altered theirs? or does the Frankfurt candle now open 2 hours before the London open. I always struggle to get my head around these clock alterations. Thanks
I do not trade frankfurt, but this site is useful for session times. If you click on the name of the city it will show you past and futures DST dates.

http://forex.timezoneconverter.com/?timezone=GMT;

Nick
  • #55,369
  • Mar 30, 2015 11:15am Mar 30, 2015 11:15am
Quoting Next4467
Hi all I know the clocks altered for the UK yesterday but does anyone know if the rest of Europe altered theirs? or does the Frankfurt candle now open 2 hours before the London open. I always struggle to get my head around these clock alterations. Thanks
Yes, all the Europe changed the clocks last weekend for +1 hour.
  • #55,370
  • Mar 30, 2015 11:17am Mar 30, 2015 11:17am
Quoting TheScorpS
GU - H1 ABCD completed , target on this trade slightly above D leg for +50 pips, waited price to settle after a deep retracement, and entered short as soon as price broke below LO H1 candle opens First chart at the time of opening the trade and second one final target {image} {image}
Really great trade, my friend! Very well done!
  • #55,371
  • Mar 30, 2015 11:44am Mar 30, 2015 11:44am
Quoting vayzardos
{quote} hi ballistical i also trade the E/A but i got stopped out by SL got -30 pip the read line is my entry and i got stoped at the 2nd candle...I always has the habit of maintaning my loss to -300 pip...can you help me so my trade didnt get easily stopped by SL but the risk can always be small...should i just let the SL to -50 pip than 30 pip for all pair like E/A G/A E/J G/J etc?? {image}
Hi Vayzardos,

I'm a little unsure from your description but believe you entered two candles before me? This was correct entry per basic TMS rules, however, when trading H1 we must consider various other factors. If you entered on the 2nd blue candle, then this was risky for two main reasons that I can see.

1. Time of day. There is lots of volatility around Frankfurt Open and London Open which can be a good thing but can also create some large whipsaws whilst the trend direction for the day is established. Also the early London candles often reverse (you've probably heard traders in this thread talk about LO fake-outs). See on my posted chart with Friday's trade where I entered too early and got caught out by an LO fakeout.

2. Price had still not broken above Friday's high. This was an important level which had not been broken for several weeks. Price bounced off this level when you entered and dropped almost 50 pips around LO.

I currently use a 25 pip SL and 50 pip TP for all EA H1 trades. I like this setup with EA as it gives a nice Risk:Reward and usually once the trend direction is established, a 25 pip is enough to catch the move. Occasionally I have been stopped out at -25 only to see price reach the +50 but this is quite rare. More often than not, if the -25 SL is hit then I've got the daily trend direction wrong or price is moving sideways for the day.

Some of the senior H1 traders in this thread, like Phx62 and TheScorps use 50 pip TP and 50 pip SL, which they then move as their trades progress. This might also appeal to you if you find you keep getting stopped out with your 30 pip SL.

Hope this helps! If you're still having problems PM me.

Ballistical
Focus on the process and the profits will follow
  • #55,372
  • Mar 30, 2015 11:53am Mar 30, 2015 11:53am
Quoting Nik-Nyc
{quote} I do not trade frankfurt, but this site is useful for session times. If you click on the name of the city it will show you past and futures DST dates. http://forex.timezoneconverter.com/?timezone=GMT; Nick
Thanks Nik-Nyc
  • #55,373
  • Mar 30, 2015 12:18pm Mar 30, 2015 12:18pm
GBPCAD-H4...
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Sad i'm not trying to understand PA
  • #55,374
  • Mar 30, 2015 1:46pm Mar 30, 2015 1:46pm
Quoting toledoFX
{quote} Yeah, that happens to me very often... Can't hold my trades for a long time, always quit too early... That was 200 pips trade from my entry... {quote} Recently LO gives too many fakies, so always try to be cautios with LO trades now. And a lot of good movements on LO+1 and LO+2. And yes, i noticed long time ago, that we have very similar entries Divergences are working very well for me recently. That's a very and very great tool, if to use it like confirmation and addition to TMS on any timeframe.
Hi Toledo!

Can you explain how to benefit from divergence? That refers to TDI and PA trends moving in opposite directions, right? Thanks.
  • #55,375
  • Mar 30, 2015 2:25pm Mar 30, 2015 2:25pm
Quoting rupasi
{quote} Hi Toledo! Can you explain how to benefit from divergence? That refers to TDI and PA trends moving in opposite directions, right? Thanks.
Rupasi,

I am sure more senior members will chime in when they can, but in the meantime have a look at this PDF. It was posted in another tms thread (i think x-man's) and it is a good introduction. The second part of the PDF is a little advanced, but the intro will certainly be useful.

Best of luck,
N.

Attached File(s)
File Type: pdf Divergence Hidden Divergence Fibos.pdf   487 KB | 856 downloads
  • #55,376
  • Mar 30, 2015 3:01pm Mar 30, 2015 3:01pm
Quoting Nik-Nyc
{quote} Rupasi, I am sure more senior members will chime in when they can, but in the meantime have a look at this PDF. It was posted in another tms thread (i think x-man's) and it is a good introduction. The second part of the PDF is a little advanced, but the intro will certainly be useful. Best of luck, N. {image}
Thanks Nik-Nyc!
  • #55,377
  • Mar 30, 2015 6:09pm Mar 30, 2015 6:09pm
Forex Factory Homepage has some useful information. Use them.

Calendar of events:
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The DayLight Saving change took place on Sunday 29 March for Europe and the UK at the same day. Know that and make the necessary adjustments for your trading. If you use any indicator on your trading charts to show the market session, be sure to check and do the parameter changes needed.

Market Session hours and timings:

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The top row show your local time and you just need to adjust yourself to the local times of the market various sessions and that of your platform server time.

TIMING is very important when you trade intraday. Why?

1. the London session overlaps 2 hours with the Asian/Tokyo session. Buying and selling activity around open and close times are usually very tricky for TMS traders because many of us look at the LO candle.

2. Timing our trade entry is important because we want a good entry price with small initial SL, and because many TMS traders trade with fix lot size and do not use position sizing.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #55,378
  • Mar 30, 2015 6:15pm Mar 30, 2015 6:15pm
Market volatility:

Example EURAUD -
Look at the past 12-weeks data shown below.
Do you think if a 30 pips SL is sufficient to give your trades enough room to breathe?

Attached Image (click to enlarge)
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Monday has the lowest daily range.... knowing this, so we can plan ahead.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #55,379
  • Mar 30, 2015 6:19pm Mar 30, 2015 6:19pm
Just wondered what would be the best 4-5 pairs to use this method on?

many thanks
  • #55,380
  • Mar 30, 2015 6:20pm Mar 30, 2015 6:20pm
Quoting fulltilt
{quote} Emmanuel, what is the best value for AVperiod APB/HA w/ H1 chart? Regards

Hi,

When I look at the H1 APB in the sub-window, I use a 100-period MA and compare the average body size over a longer time. Anything above the 100-MA is good to hold onto any trades.

However, on the price chart, I look at the real price bar comparing the 20-period and 100-period H1 price data. I would take the mean of the two. I do the same for H4 chart.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
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