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Trading Made Simple

  • #56,081
  • Apr 21, 2015 3:48am Apr 21, 2015 3:48am
Shorted EA on LO for +50 pips, on a continuation to the channel lower trend line
Attached Image (click to enlarge)
Click to Enlarge Name: 2015-04-21_13-42-15 EA.jpg Size: 386 KB
I Have Learned to Take Some Losses to Make Profits
  • #56,082
  • Apr 21, 2015 4:46am Apr 21, 2015 4:46am
Quoting ZeF
+40 green on a 4-6 TDI Angle on FO, following the breakout of Asian Master Candle and 200 EMA. Action heading out of the overbought zone. Closed in anticipation of red EURO news coming in an hour. Also was not too convinced of momentum since it was heading straight into the black MBL. Trade actually would have hit initial TP but gave it a bit more space and ended up closing it. Have a good day everyone. {image}


Hello ZeF

Please would you share indicators of previous weekly/day High/low? Does it contain London/Nyo H/L too?

Thanks
  • #56,083
  • Apr 21, 2015 5:05am Apr 21, 2015 5:05am
Quoting WDays
{quote} My advice to you is to stick to the lower-spread, lower volatility pairs. A EU, GU, EJ or EA pair have good ranges, but aren't nearly as volatile as let's say EN, GN or heck even GJ. Let me tell you that a purely volatile pair that goes all over the map in eradic moves higher and then lower IS NOT the same thing as a pair that just tends to move more pips than others. Not only is spread higher on pairs like GN, but they tend to be a little crazy and that's where you get trapped... Focus on EU and maybe GU for now, as you can see, every time...
WDays, thanks! I will focus on the easier pairs first.
  • #56,084
  • Apr 21, 2015 5:12am Apr 21, 2015 5:12am
Quoting cr1982
{quote} Hello ZeF Please would you share indicators of previous weekly/day High/low? Does it contain London/Nyo H/L too? Thanks
Here's the daily weekly monthly indicators.
Attached File(s)
File Type: ex4 Daily_High_Low .ex4   9 KB | 440 downloads

Attached File(s)
File Type: mq4 Daily_High_Low .mq4   4 KB | 416 downloads

Attached File(s)
File Type: ex4 Daily-Weekly-Monthly Hi-Low4.ex4   26 KB | 440 downloads


For the session high/low I use a sessions indicator where I just disabled all sessions except London. I can see the high/low points and the ADR of the session itself by simply looking at it. I don't have a NY box because I don't trade the NY session. I just have a name indicator which turns green when NY starts, it's just a heads up for trend changes that might occur. (bottom right of screen)
Best regards, Zef
  • #56,085
  • Apr 21, 2015 5:25am Apr 21, 2015 5:25am
GBPAUD 21 Apr H1 LO trades:

Exited TP1 and TP2 before NYO, move SL to BE.
Now let trade run into the NY session.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPAUD week 17 21 Apr LO trades.png Size: 51 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #56,086
  • Apr 21, 2015 5:43am Apr 21, 2015 5:43am
[quoting Emmanuel 7788]GBPAUD 21 Apr H1 LO trades:
Exited TP1 and TP2 before NYO, move SL to BE.
Now let trade run into the NY session[/quote]
Hi Big Eman: Amazing how u guys r doing that on consistent basis. I'm trying to trade on 4H TF for the last two months or so by using this method but consistency is still a problem.
Regards.
Winners Never Quit, Quitters Never Win
  • #56,087
  • Apr 21, 2015 5:44am Apr 21, 2015 5:44am
Quoting mordin
{quote} Hi Emmanuel, first thank you for your last answer to my question, the one about the SLs and TPs. I have a question about your entry in this trade, what triggered your entry? TDI bar was past #3. I see three possible things, but I'm not pretty sure. I see that the APB body is strong, and that it just closed under the PAC. Perhaps that TDI angle was still good? I avoided CAD and AUD pairs today due to the news, but I don't know if I would have taken that trade. Thank you for your explanations.

Hi mordin,

that entry also considered looking at H4 candle close below the BRN...

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #56,088
  • Apr 21, 2015 6:02am Apr 21, 2015 6:02am
Quoting hsn100
[quoting Emmanuel 7788]GBPAUD 21 Apr H1 LO trades: Exited TP1 and TP2 before NYO, move SL to BE. Now let trade run into the NY session
Hi Big Eman: Amazing how u guys r doing that on consistent basis. I'm trying to trade on 4H TF for the last two months or so by using this method but consistency is still a problem. Regards.[/quote]

I agree ... just when I think I'm getting it on a consistent basis, I do something stupid again and there goes some of my profit .. eish.
But patience and hard work (old charts and Phx studies) is the solution according to the senior members .. so that is what I'm doing !!!
Definitely making progress ...... my nett profit is growing as long as I do not over trade but wait for great setups only.
Never give up !!!
  • #56,089
  • Apr 21, 2015 6:03am Apr 21, 2015 6:03am
Was this a valid H4 setup candle?
Attached Image (click to enlarge)
Click to Enlarge Name: Capture.PNG Size: 66 KB
  • #56,090
  • Apr 21, 2015 6:17am Apr 21, 2015 6:17am
Quoting theunis
{quote} Hi Big Eman: Amazing how u guys r doing that on consistent basis. I'm trying to trade on 4H TF for the last two months or so by using this method but consistency is still a problem. Regards. I agree ... just when I think I'm getting it on a consistent basis, I do something stupid again and there goes some of my profit .. eish. But patience and hard work (old charts and Phx studies) is the solution according to the senior members .. so that is what I'm doing !!! Definitely making progress ...... my nett profit is growing as long as I do not over trade but wait for great setups only.
I started reading this forum in 2012, took me a long time to understand such a simple method, but you will find which TF and pairs click for you... For example, 99.9% of my trades are at the EO/LO open on the 1hr chart and I only really look at two currency pairs and this provides more than enough pips each month.

So, my advice is don't overwhelm yourself looking at 12 pairs right away, focus on some decent majors/crosses and you'll be able to take 2-3 solid trades a week and I bet you'll like the results
  • #56,091
  • Apr 21, 2015 6:20am Apr 21, 2015 6:20am
Quoting mokuro89
Was this a valid H4 setup candle? {image}
It could be a continueation of the 4h trend. - Go to the daily chart and check where the tdi is there!- Also check for sr levels on daily.
MY SITTING, NEVER MY THINKING!
  • #56,092
  • Apr 21, 2015 6:22am Apr 21, 2015 6:22am
Quoting theunis
{quote} Hi Big Eman: Amazing how u guys r doing that on consistent basis. I'm trying to trade on 4H TF for the last two months or so by using this method but consistency is still a problem. Regards.
I agree ... just when I think I'm getting it on a consistent basis, I do something stupid again and there goes some of my profit .. eish. But patience and hard work (old charts and Phx studies) is the solution according to the senior members .. so that is what I'm doing !!! Definitely making progress ...... my nett profit is growing as long as I do not over trade but wait for great setups only.[/quote]

Me too... when I think I'm starting to make any kind of progress, I make two or three bad trades that swipe every form of profit. On the demo I'm still in red, so no progress overall. So frustrating.
Had to be me. Someone else might have gotten it wrong.
  • #56,093
  • Apr 21, 2015 6:24am Apr 21, 2015 6:24am
Quoting Andyvix833
{quote} I started reading this forum in 2012, took me a long time to understand such a simple method, but you will find which TF and pairs click for you... For example, 99.9% of my trades are at the EO/LO open on the 1hr chart and I only really look at two currency pairs and this provides more than enough pips each month. So, my advice is don't overwhelm yourself looking at 12 pairs right away, focus on some decent majors/crosses and you'll be able to take 2-3 solid trades a week and I bet you'll like the results
Thank u guys (theunis and Anyvix833) for sharing ur own experiences. that's very helpful.
regards.
Winners Never Quit, Quitters Never Win
  • #56,094
  • Apr 21, 2015 6:34am Apr 21, 2015 6:34am
Quoting fortunemaker
{quote} Hi Emmanuel, How to check pairs volatility and best times to trade such pairs. Also, how to use 50 & 200 EMAs as S/R. Any example please. Sorry if you have already explained. Thanks.
Hi fortunemaker,

Many traders use the 50EMA and 200EMA as dynamic support and resistance. But it will more effective to use them to look at CONFLUENCE with other common support and resistance and look at the price action.
Below is an example using GBPUSD.
To see how I did the entry, you have to switch to M15 and see how the PA reacted at the 200EMA on M15 chart TF.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD week 17 @1 Apr NYO.png Size: 64 KB


Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD M15 entry details.png Size: 59 KB


regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #56,095
  • Apr 21, 2015 7:16am Apr 21, 2015 7:16am
Quoting ZeF
{quote} Here's the daily weekly monthly indicators. {file} {file} {file} For the session high/low I use a sessions indicator where I just disabled all sessions except London. I can see the high/low points and the ADR of the session itself by simply looking at it. I don't have a NY box because I don't trade the NY session. I just have a name indicator which turns green when NY starts, it's just a heads up for trend changes that might occur. (bottom right of screen)

Many thanks. Does it miss the session indicator?
  • #56,096
  • Apr 21, 2015 7:23am Apr 21, 2015 7:23am
Can anyone tell me why snarlyjack has stopped posting on this thread. I learn a lot from him but suddenly he stopped. A few members ask the same question but as far as I can see there isn't any answer. Hopefully someone can give me the explanation. Thanks.
  • #56,097
  • Apr 21, 2015 8:21am Apr 21, 2015 8:21am
Quoting cr1982
{quote} Many thanks. Does it miss the session indicator?
Here's the indi and the settings.

Attached Image (click to enlarge)
Click to Enlarge Name: Unbenannt.png Size: 74 KB
Attached File(s)
File Type: ex4 Sessions(auto) v1.5.ex4   21 KB | 404 downloads
File Type: mq4 Sessions(auto) v1.5.mq4   9 KB | 452 downloads
Best regards, Zef
  • #56,098
  • Apr 21, 2015 8:40am Apr 21, 2015 8:40am
EURAUD-H1
Attached Image (click to enlarge)
Click to Enlarge Name: 2015-04-21_21-38-07EURAUD.png Size: 32 KB
Sad i'm not trying to understand PA
  • #56,099
  • Apr 21, 2015 10:22am Apr 21, 2015 10:22am
Quoting ZeF
{quote} Here's the indi and the settings. {image} {file} {file}

Great thank you
  • #56,100
  • Apr 21, 2015 11:06am Apr 21, 2015 11:06am
I think I over trade a bit today .... two TMS trades saved my bacon and I ended at break-even but it feels like I have just finished a marathon ....
Never give up !!!
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