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  • #55,701
  • Apr 9, 2015 3:01am Apr 9, 2015 3:01am
First trade since last week. Classic entry on LO with a great momentum and easy and clear setup. Took GBP/AUD and missed EUR/AUD. Original TP was 50 pips, but then i moved it to 60, then to 70 as price was going down and nothing showed that it's going to reverse. Then quick movement and i have no time to move my TP to +80 or bigger, only moved it as i could and price quickly hit it. So +78 pips. Very nice start of the week on thursday ...
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  • #55,702
  • Apr 9, 2015 3:11am Apr 9, 2015 3:11am
Bag filled from a TDI bounce right on the LO candle:

60 green on GA, TP just above 1.92, short of the 75pip target but price seemed to go nowhere.....
BE+comm (5.5) on unsuccessful EA entry.

Price on GA stalling around 1,92, will enter again if it breaks through during LO.

Attached Image (click to enlarge)
Click to Enlarge Name: GA60.png Size: 43 KB
Best regards, Zef
  • #55,703
  • Edited 3:33am Apr 9, 2015 3:21am | Edited 3:33am
Thank you for discussing my trade - I take profit in stages (mainly when the 5min chart starts to range) so I took profit at 25 pips and then 68 pips and let the rest run until the 5ema was hit at 50 pips. I leave the last part of my trade open in that way to catch any TDI bounces when I enter with another trade and thus build up a bigger position. I must say that I only leave a fifth of my profit open so even if it spikes down, I still end with a winner overall.

Regarding your quiz:
Nr 1 - I would not have taken nr 1 because the first candle is too small and it has not broken through the resistance of the preceding channel.
The second candle did but then the entry would have been on the third candle and that is too late.

Nr 2 - The second candle looks better but is also not a good breakout candle that shows momentum, so no go.

Four candles later was n proper breakout candle with a TDI bounce that was in my opinion a better entry.
Never give up !!!
  • #55,704
  • Apr 9, 2015 3:22am Apr 9, 2015 3:22am
Quoting omonisha
EURJPY-H4 {image}
Fantastic as always!
  • #55,705
  • Edited 3:58am Apr 9, 2015 3:30am | Edited 3:58am
Quoting emmanuel7788
Here is a test of your trading skills and how well you understood Big E's post#647. Using the same EU H4 chart, would you have taken those two trades [1] and [2] marked? There was TDI cross and TDI bounce. If you did not take those two trades, what was the one reason for your trading decision. {image}
Emmanuel,

I can't answer for sure because I don't see any yellow MBL line on the TDI. But if in the case of trade 1, the action would have been above the MBL, I would have entered for sure.

Second trade no - too weak candles..

LE: But then again the second setup is a hammer or pin bar you were mentioning again and again. So in the second trade I'd have been watching it for reversal due to the pinbar, but would have not entered on the pinbar itself.
Best regards, Zef
  • #55,706
  • Apr 9, 2015 4:03am Apr 9, 2015 4:03am
Quoting toledoFX
{quote} Fantastic as always!
Hi Toledofx, could you please post for me the indicator in right top in your chart,thanks.
  • #55,707
  • Apr 9, 2015 4:03am Apr 9, 2015 4:03am
Quoting ZeF
Bag filled from a TDI bounce right on the LO candle: 60 green on GA, TP just above 1.92, short of the 75pip target but price seemed to go nowhere..... BE+comm (5.5) on unsuccessful EA entry. Price on GA stalling around 1,92, will enter again if it breaks through during LO. {image}
wow very nice trade there buddy
i also enter but on G/U pair and E/U pair both on short
the G/U i set the tp 50 but i see the movement quite wild so set it to 60 pips

the E/U trade I broke my rule i enter short very near the previous daily low...better next time if near the daily low/high i should just wait till the signal is very clear after the LO candle my e/U got stopped on my SL-30 pips.Should just let the SL on the previous daily high so my SL will not get hit if i exit now i should got profit 10pips not loss 30

still waiting for another signal on London hour...
  • #55,708
  • Apr 9, 2015 4:04am Apr 9, 2015 4:04am
Quoting fxforever
{quote} Hi Toledofx, could you please post for me the indicator in right top in your chart,thanks.
here it is fxforever
Attached File(s)
File Type: ex4 TMS 10EMA Dashboard.ex4   10 KB | 306 downloads
  • #55,709
  • Apr 9, 2015 4:09am Apr 9, 2015 4:09am
Quoting toledoFX
First trade since last week. Classic entry on LO with a great momentum and easy and clear setup. Took GBP/AUD and missed EUR/AUD. Original TP was 50 pips, but then i moved it to 60, then to 70 as price was going down and nothing showed that it's going to reverse. Then quick movement and i have no time to move my TP to +80 or bigger, only moved it as i could and price quickly hit it. So +78 pips. Very nice start of the week on thursday ... {image}
Excellent trading. Ea is now crossing weekly low with heavy momentum.
Sad i'm not trying to understand PA
  • #55,710
  • Apr 9, 2015 4:31am Apr 9, 2015 4:31am
Quoting emmanuel7788
Here is a test of your trading skills and how well you understood Big E's post#647....
Hi Emmanuel

Like your quiz : heres my pennies worth....I would be have initially cautious due to the down trend in the small picture, in the big picture (daily) downtrend was confirmed so still cautious. Therefore myself I wouldnt have taken trade at 1 or 2.
However, if I was to trade counter trend I would have preferred trade 2 as both signal lines are heading north and the candle closed above the previous high. The second bounce i see after trade 2 looks better for me as it closes above the consolidation which 1 & 2 seem to be within.

All the best..
By failing to prepare, you are preparing to fail - Benjamin Franklin
  • #55,711
  • Apr 9, 2015 4:54am Apr 9, 2015 4:54am
Quoting fxforever
{quote} Hi Toledofx, could you please post for me the indicator in right top in your chart,thanks.
Vayzardos was nice to share a link to download it. I will only add, that this indicator shows EMA10 on different timeframes and is price above or below it. Just a small addition to the chart, but dont take it as a signal to enter!

Quoting omonisha
{quote} Excellent trading. Ea is now crossing weekly low with heavy momentum.
Yes, EA had worse momentum this morning than GA. But i love the situations when these 2 pairs give exactly the same signals and have very similar situations on the chart. Usually, that works really good and today was exactly such situation. EA moved 60+ pips since LO signal for now.
  • #55,712
  • Apr 9, 2015 5:05am Apr 9, 2015 5:05am
Quoting emmanuel7788
{quote} Hi, Let's look at the chart posted by the member theunis. {image} the information show the Daily Av of 134 pips, Hi to Low 136. the entry price is seen on his chart above. if he waits for the price to pull back to the 5EMA to exit, then we lose too many pips. I posted GU volatility chart which shows a daily range of between 120 and 160. I would take profit and close all positions when market hit 160 pips range max. If you check the GU range from its low to its high, it is about 167pips. the pull back to the 5EMA would be ca 55pips, too much...
Thanks a lot. Very useful. I just started my trading journey with a TMS demo account. (See in my profile - still getting into it...) Keeping everything very simple as I don't have the experience to over-complicate things.

It seems for me that entering is not that hard - enter before LO according to TDI and EMA, and enjoy the pips coming. The harder part is trade management, where to put TP, when to move SL to breakeven etc.

Right now I'm operating with a fixed 50 pips TP, taking into account any whole/half numbers, past S/R levels a few days ago.
--I'm a demo newbie, please be cautious.
  • #55,713
  • Apr 9, 2015 5:13am Apr 9, 2015 5:13am
Quoting emmanuel7788
Hi TMS folks, There is a trade quiz in post#55,632 above. Take your time and try that simple TMS quiz. Never mind if you think your answer it is correct or wrong. What is more important is that you know how to pick those A+++ setup with TDI cross, angle 12-2 4-6, and bounce trades with higher win rates. You need to know your TDI to be able to trade with high win rate consistently. regards
I maybe would have taken both, bailing out early. It can be seen that at the 1st entry, I would be trading a retracement in a 4hr trend - need to be cautious.
The 2nd entry - entering into a rectangle range before breakout. But I would have had to exit 1-2 candles later because of the TDI (and no good price action).

So this would have been 2 entries with a small loss/breakeven.

But hey, a good entry point is the one not marked, apr 2 12:00. :-)

Looking forward to some warning signs about why not to enter at those 2 positions!
--I'm a demo newbie, please be cautious.
  • #55,714
  • Apr 9, 2015 5:14am Apr 9, 2015 5:14am
Quoting vayzardos
{quote} wow very nice trade there buddy i also enter but on G/U pair and E/U pair both on short the G/U i set the tp 50 but i see the movement quite wild so set it to 60 pips the E/U trade I broke my rule i enter short very near the previous daily low...better next time if near the daily low/high i should just wait till the signal is very clear after the LO candle my e/U got stopped on my SL-30 pips.Should just let the SL on the previous daily high so my SL will not get hit if i exit now i should got...
Thanks !

If ADR is reached, I would take no more entries today unless news release is scheduled which will drive price forward.
Best regards, Zef
  • #55,715
  • Apr 9, 2015 5:37am Apr 9, 2015 5:37am
Will EA set another Lower Low and complete the movement?

That should be at least 400 pips away.

I'll be monitoring it for any favorable PA at LO for entries.
Attached Image (click to enlarge)
Click to Enlarge Name: EA LHLL.png Size: 63 KB
Best regards, Zef
  • #55,716
  • Apr 9, 2015 6:28am Apr 9, 2015 6:28am
Hi all

My little contribution to this thread as pips starts to round up


patience patience patience
Michael
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  • #55,717
  • Apr 9, 2015 7:51am Apr 9, 2015 7:51am
update

+4 pips
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  • #55,718
  • Apr 9, 2015 7:51am Apr 9, 2015 7:51am
Hi Emmanuel,

What should be the Daily Open in my case? Is it at Sydney or London or New York Open? I am using MT4 Platform showing 15:00 (EET) in Market Watch at my time 08:00 (ET). 00:00 time is at Sydney Open. Thanks.
  • #55,719
  • Apr 9, 2015 8:23am Apr 9, 2015 8:23am
Quoting fortunemaker
Hi Emmanuel, What should be the Daily Open in my case? Is it at Sydney or London or New York Open? I am using MT4 Platform showing 15:00 (EET) in Market Watch at my time 08:00 (ET). 00:00 time is at Sydney Open. Thanks.
The London open has the highest impact. (Esp on EUR, USD etc. pairs) I'm using this tool: http://market24hclock.com
Pretty useful because it takes into account the various time zone and DST differences. Or there is a chart here on FF, too.

Also, there are MT4 indicators showing trading sessions, but I found this the most reliable. And, you can just look at the price action and see the London open... :-)

You just have to sync the sessions, the news and the 4hr candle update times.
--I'm a demo newbie, please be cautious.
  • #55,720
  • Apr 9, 2015 9:26am Apr 9, 2015 9:26am
GBPUSD-M30..Took this on M30 retrace
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD-30M.png Size: 33 KB
Sad i'm not trying to understand PA
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