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Trading Made Simple

  • #55,381
  • Mar 30, 2015 6:22pm Mar 30, 2015 6:22pm
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}

That's a good trade!
CONTINUATION of the previous day bullish candle.

I did the same trade and will post chart later.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #55,382
  • Mar 30, 2015 6:26pm Mar 30, 2015 6:26pm
There was a time the spread was > 20 (Twenty)
Attached Image(s) (click to enlarge)
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DON'T TRADE THE DIRECTION, TRADE THE MOVE
  • #55,383
  • Mar 30, 2015 6:28pm Mar 30, 2015 6:28pm
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}
Good trade TSS!...

When market is sideways narrow range, this is very difficult for TMS traders.

But for new TMS traders, learn to look for those simple setups which works most of the time. When you don't find a simple setup, just move to another currency pair. Always zoom out on your chart and see the big picture and look at the price action around support and resistance, and those Big Round Numbers.

My GBPUSD H1 trade done yesterday. I use a script to place 3-lots entry each with TP set to 25pips, 50pips, and 100pips. I move my Sl to BE when market move in my favour +50pips and this resulted in the 3rd position stopped out at BE.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD 30 Mar H1 trades.png Size: 61 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #55,384
  • Mar 30, 2015 6:39pm Mar 30, 2015 6:39pm
EURAUD 30 Mar H1 trades:

Note, there was a weekend price gap. Some traders would have sold when Tokyo open and to cover the gap, but with H4 and D1 bullish, I prefer to wait to trade the continuation.

Attached Image (click to enlarge)
Click to Enlarge Name: EURAUD 30 Mar H1 trades .png Size: 63 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #55,385
  • Mar 30, 2015 6:46pm Mar 30, 2015 6:46pm
Quoting matwhit
Just wondered what would be the best 4-5 pairs to use this method on? many thanks

Hi,

Since you live in the UK, start with EURUSD, GBPUSD, USDJPY and EURJPY. These are good pairs to trade and you will learn plenty about what moves the currency market.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #55,386
  • Mar 30, 2015 7:31pm Mar 30, 2015 7:31pm
Quoting emmanuel7788
{quote} Hi, Since you live in the UK, start with EURUSD, GBPUSD, USDJPY and EURJPY. These are good pairs to trade and you will learn plenty about what moves the currency market. regards,

many thanks for your reply, i really appreciate it
  • #55,387
  • Mar 30, 2015 9:46pm Mar 30, 2015 9:46pm
Would tomorrow be a bad day to trade with all the news?
  • #55,388
  • Mar 30, 2015 10:30pm Mar 30, 2015 10:30pm
Quoting Phx62
Per PM requests, here are my trades on EU for this week (my favorite pair to trade when the ADR is higher than 120 or so). Took a total of 7 EU H1 trades and 1 M15 trade. Six of them were with 3 standard lots with 3 different TP's, one was a 1 lot, 20 pip scalp and the other was a 1 lot trade (M15) for 50 pips following news announcements on Tuesday. Another very good week. Monday...LO candle set the low of the session and pulled back. Entry was made a little before the actual cross of green over red but was taken on a break above the LO candle....
Hi Phx,

Thank a lot for sharing & teaching...

Take a look at your entry candle and setup candle, I saw sometime you enter right after setup candle completed (beginning of entry candle), sometime you waiting for entry candle break above or below the setup candle. Could you please share what is your rule on that scenario?
  • #55,389
  • Mar 30, 2015 10:35pm Mar 30, 2015 10:35pm
Quoting emmanuel7788
{quote} Good trade TSS!... When market is sideways narrow range, this is very difficult for TMS traders. But for new TMS traders, learn to look for those simple setups which works most of the time. When you don't find a simple setup, just move to another currency pair. Always zoom out on your chart and see the big picture and look at the price action around support and resistance, and those Big Round Numbers. My GBPUSD H1 trade done yesterday. I use a script to place 3-lots entry each with TP set to 25pips, 50pips, and 100pips. I move...
Thanks Emmanuel for the heads up, your entry in my dictionary is the perfect one, was a really good trade, there was a spike in the duration of the trade that almost got me stopped out at BE after priced moved +40 pips
I Have Learned to Take Some Losses to Make Profits
  • #55,390
  • Mar 30, 2015 10:37pm Mar 30, 2015 10:37pm
Quoting toledoFX
{quote} Really great trade, my friend! Very well done!
Thanks Toledo, you have been doing great, keep up the vibe
I Have Learned to Take Some Losses to Make Profits
  • #55,391
  • Mar 30, 2015 10:38pm Mar 30, 2015 10:38pm
Quoting omonisha
GBPCAD-H4... {image}
Great clean chart and trade
I Have Learned to Take Some Losses to Make Profits
  • #55,392
  • Mar 30, 2015 10:45pm Mar 30, 2015 10:45pm
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}
Very nice trade TSS...

I see you are using the indicator at the left side like Phx (I'm not sure)?
Can you share the name of that indicator and how you USING that candle?

Thank you,
  • #55,393
  • Mar 31, 2015 1:05am Mar 31, 2015 1:05am
Quoting emmanuel7788
{quote} Good trade TSS!... When market is sideways narrow range, this is very difficult for TMS traders. But for new TMS traders, learn to look for those simple setups which works most of the time. When you don't find a simple setup, just move to another currency pair. Always zoom out on your chart and see the big picture and look at the price action around support and resistance, and those Big Round Numbers. My GBPUSD H1 trade done yesterday. I use a script to place 3-lots entry each with TP set to 25pips, 50pips, and 100pips. I move...
Hi emmanuel7788

if you can share this script,yesterday I trade the GBPCAD,but sad,I was stopped out at BE

thx a lot.
  • #55,394
  • Mar 31, 2015 1:59am Mar 31, 2015 1:59am
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.
Hello! You can find a lot about divergences in the PDF that Nik-Nyc shared. All i can add that using them on H1 and M15 is very useful during the trend. It can be another confirmation for your entry, if it's reversal trade, or it can be a signal for exit the trade, if the trend move has stalled. When you have double bottom/top on H1 and you have a divergence on M15/H1 on that DB/DT - that's a very nice situation for enter, if other stuff confirms. The benefits of divergences is better to show on charts, you can easily find them on any chart with help of TDI. Also a lot of traders here use them and show on charts (as far as i remember, Licika use divergences often), just look on them and try to use them in your trading. It takes a little time for your eyes to get used to them and you find them on charts easily. You can also use them on any timeframe, H4 and D1 divergences will show you long-term situations and are also very useful.
  • #55,395
  • Mar 31, 2015 2:06am Mar 31, 2015 2:06am
Quoting emmanuel7788
{quote} Good trade TSS!... When market is sideways narrow range, this is very difficult for TMS traders. But for new TMS traders, learn to look for those simple setups which works most of the time. When you don't find a simple setup, just move to another currency pair. Always zoom out on your chart and see the big picture and look at the price action around support and resistance, and those Big Round Numbers. My GBPUSD H1 trade done yesterday. I use a script to place 3-lots entry each with TP set to 25pips, 50pips, and 100pips. I move...
Hi emmanuel,

i have a question on a candlestick

Wqiang
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDH1_31032015.png Size: 51 KB
  • #55,396
  • Mar 31, 2015 3:02am Mar 31, 2015 3:02am
EURJPY-H4..Approaching towards weekly low
Attached Image (click to enlarge)
Click to Enlarge Name: 2015-03-31_13-59-46EURJPY.png Size: 38 KB
Sad i'm not trying to understand PA
  • #55,397
  • Mar 31, 2015 3:23am Mar 31, 2015 3:23am
Quoting omonisha
EURJPY-H4..Approaching towards weekly low {image}
Positive anything is better than negative thinking.- Elbert Hubbard
  • #55,398
  • Mar 31, 2015 3:40am Mar 31, 2015 3:40am
Quoting omonisha
EURJPY-H4..Approaching towards weekly low {image}

should be a nice month end candle close....not expecting a flat end candle.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #55,399
  • Mar 31, 2015 3:48am Mar 31, 2015 3:48am
Quoting Wqiang
{quote} Hi emmanuel, i have a question on a candlestick Wqiang {image}
http://www.forexfactory.com/attachme...1&d=1427785506


Hi Wqiang,

The price travel of that price bar (BEOB) is important. If you look at M15, you will see what I mean by the price travel ... it went up and down and pullback to close that H1 BEOB. That was sellers in control. It is always tricky during the overlap trading hours of the Tokyo and London sessions. Some traders may see buying during the LO candle but we don'r really know if that was buying or Asian sellers exiting before Tokyo close.
You have your 10EMA, what do you see? That is also a good example when we use the 10EMA.

Anyway, my emphasis was on the simple setup seen using the PAC and the 50/200EMA, We trade away from these as the simple setup and rule.

Hope this is clear.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #55,400
  • Mar 31, 2015 3:50am Mar 31, 2015 3:50am
It's now GMT 0850... 10mins till Tokyo close.
After this, we shall see where the buying and selling are then we shall decide on the setups we see.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
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