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  • #56,101
  • Apr 21, 2015 2:08pm Apr 21, 2015 2:08pm
Eu was a massacre for the early hours of the London session, I set a pending buy stop 4 pips (2 + 2 spread) above the ZEW candle it put me in a trade and as I was looking at it, I started to worry about it and closed it for a mere 12 pips profit as it failed to stay up there (previous price structure around the 1.0710-15 levels).
It then proceeded to drop, and I had to leave at this point, so basically TP would've been hit despite the numerous resistances obstructing the way up. I'm happy I didn't risk it, because I may have taken it for a loss instead of holding it out, even though my stop was pretty tight (I used m15 swings to set it, so it was about 20-25 pips away from entry). Oh well..
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  • #56,102
  • Apr 21, 2015 3:17pm Apr 21, 2015 3:17pm
Three trades yesterday and today on GA H1.
Attached Image (click to enlarge)
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  • #56,103
  • Apr 21, 2015 3:21pm Apr 21, 2015 3:21pm
Hi All

Can any one of you kindly show why all the trades below ended in a loss except EUR/JPY had small gain its H4 using 5_method taught by Eelfranz ?
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  • #56,104
  • Edited 3:51pm Apr 21, 2015 3:33pm | Edited 3:51pm
Quoting abofar
Hi All Can any one of you kindly show why all the trades below ended in a loss except EUR/JPY had small gain its H4 using 5_method taught by Eelfranz ? {image} {image} {image} {image}

abofar

You are using TMS without taking care of the sup/res key.

For the first trade, i suppose you have been long. You bought the pair closed to Previous Day High and the Previous Weekly High. NOT too much space to go long over there. No reason to go long, almost if you don't even get a strong and clear breakout of those levels.
You have been also in proximity of EMA 50. Additionally, you traded against the mid term trend and the market is still so choppy and quite ranging on that pair (low volatility, small candles etc.)

That trade got few pips, but too risky.

On AUDUSD, same reasons. You have traded in a range market, far from key levels and with no clear price action. Anyway, the double bottom would have pushed you to go long but maybe your SL has been too taught.
I think these are some of reasons why you failed.

Keep in mind that you need to link TDI with some kind of price action which you have to find not only on your TF, but on the higher TF too.
If you check Daily, a nice entry signal would have been the pin bar on 17th of month. Check it out.

Find more confluences and you will trade better.



Seniors can help you more for sure about other failed trades.
  • #56,105
  • Apr 21, 2015 4:12pm Apr 21, 2015 4:12pm
Quoting abofar
Hi All Can any one of you kindly show why all the trades below ended in a loss except EUR/JPY had small gain its H4 using 5_method taught by Eelfranz ? {image} {image} {image} {image}

Abo,
I am not letting you off that easy!!... please explain your trading plan on all of the above trades, I am looking for you to explain why you entered and what your plan with the trade was (where was your SL, where was your TP area)...

Thanks
  • #56,106
  • Apr 21, 2015 4:22pm Apr 21, 2015 4:22pm
cr1982

Thank you very much for your advice and quick response. It is very useful. I hope I can get more response from senior traders here.
  • #56,107
  • Apr 21, 2015 4:35pm Apr 21, 2015 4:35pm
Quoting Andyvix833
{quote} Abo, I am not letting you off that easy!!... please explain your trading plan on all of the above trades, I am looking for you to explain why you entered and what your plan with the trade was (where was your SL, where was your TP area)... Thanks
I am glad that you care, thank you very much. I was reading this thread from post1 onward till page 250. I am trying to follow Eelfranz way of trading H4. I look at chart every 4hrs. This is my first trade using tdi. No TP so far . I follow tdi crossing signal line . I take profit when green line flat or hooking. I do not use stoploss I have lost so much money using stoploss ,I watch my trades. In future I may use stoploss same way Eelfranz did at the low or high two bars back. I like simple systems.
  • #56,108
  • Apr 21, 2015 4:40pm Apr 21, 2015 4:40pm
Quoting Phx62
Three trades yesterday and today on GA H1. {image}

Phx62,

did you use CaveManager to set SL, TP and manage those trades?

thanks

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #56,109
  • Apr 21, 2015 5:07pm Apr 21, 2015 5:07pm
Quoting abofar
Hi All Can any one of you kindly show why all the trades below ended in a loss except EUR/JPY had small gain its H4 using 5_method taught by Eelfranz ? {image} {image} {image} {image}
Hi,

When I trade the H4 chart, I am trading the 4H swing during the week. 4H swing trades can last several days during the same week. We believe each price swing will run 3 to 8 candles.
You need to zoom out and look at what the big picture is and know the market type you are in.

Attached Image


Of course you can trade exactly they way eelfranz traded as he described in post#1. His entry and exit is purely based on the TDI. His entry is aggressive to pick on the reversal APB candles#1 and #2. In trading this way he did not wait for the new trend to be confirmed.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #56,110
  • Apr 21, 2015 5:17pm Apr 21, 2015 5:17pm
Quoting abofar
{quote} I am glad that you care, thank you very much. I was reading this thread from post1 onward till page 250. I am trying to follow Eelfranz way of trading H4. I look at chart every 4hrs. This is my first trade using tdi. No TP so far . I follow tdi crossing signal line . I take profit when green line flat or hooking. I do not use stoploss I have lost so much money using stoploss ,I watch my trades. In future I may use stoploss same way Eelfranz did at the low or high two bars back. I like simple systems.
Ok cool, well there a couple of things that I think you will want to pay attention too...
Now, this is all constructive advice/suggestions...

Trade #1: Eur/Jpy
1) Your apb bar are extremely small.. look at Eelfranz charts, you will see in most of his examples the candles are much larger
2) Look back to April 17th and what do you see? I see approx 6 bars that consolidated right where you were trading into and your not very far from that previous resistance, price actually acted very normal, it went up tested that hard-core resistance area and retraced back into the range
3) I don't know your broker times but is your entry based on any market opens? Europe or London or just random?
4) Your TDI cross sucks.. it's more of a tiny bounce, look back on your charts at big APB candles, you'll usually see a cleaner TDI if that makes any sense (if not let me know I will post examples).


Trade #2:
Again, more of what I posted in trade #1, small apb, look at April 9th, again heavy resistance your trading right into andd price acted reasonably... no momentum on these apbs... like you want clean breaks with larger candles..

Trade #3:
Same thing just backwards, your trading into a low, see all those small candles just to the left a couple of days ago?

Trade #4:
See Post #1

Now, its your trading plan, but you should start looking where you think price will move to and look to that for your TP, the TDI is a great help, but you should not base your entry/exit strictly on it's movements, think of it as a GPS, you don't always follow your car GPS if it's telling you to drive down a road with wet cement right? same idea here....

If your at all serious about making this work for you, I would really recommend you going up to the attachment tab and downloading pdfs by Emmanuell and Phx62, there are ton of example charts (even if they are not your 4hr TF, the idea is the same for what apb candles are good) and I think this will help you immensely.

Good Luck!
  • #56,111
  • Apr 21, 2015 5:21pm Apr 21, 2015 5:21pm
Quoting emmanuel7788
{quote} Hi Clive, First thing, I am not the master of this thread. There are many traders who were with Big E when he started out here in FF. Some of these pioneer members of the 5-Method are still reading this thread. The core of the 5-Method has not changed. The only two indciators we use are the APB/HA and the TDI. The 'issue' was with the TDI versions available in the public domain. Big E traded with the original version which he named TDI Red Green. It was known after a while that this TDI version re-paints several bars in the history but that...
Im seeing a range established within the MC indicated by A. Overall trend is to the downside, blue candles look to be only retracements. I would watch for a break out of the MC range. Candles have alot of wick also and no clear direction.
  • #56,112
  • Apr 21, 2015 5:26pm Apr 21, 2015 5:26pm
Quoting emmanuel7788
{quote} Phx62, did you use CaveManager to set SL, TP and manage those trades? thanks regards,
Yes, I used the CM to set the original SL, TP"s and to move SL to BE after 35 pips. I also am using a 65 pip emergency trailing SL but usually close manually on consolidation or pullbacks if TP's are not hit. I found the 50 pip trailing SL to be too close for this pair.
  • #56,113
  • Apr 21, 2015 5:51pm Apr 21, 2015 5:51pm
Quoting pmbaokhanh
Hi Emmanuel, Are you still using Multiple purpose Trade Management? Is it still one of the best EA as you mentioned. Sorry if you already reply recently but I'm still working through the thread just up to page 810 now. Thanks.

Hi pmbaokhanh,

I had used MPTM for many years but since I move 70% of my trades to another platform (non-MT4) after broker ibfx closed, I no longer use it.
MPTM is a good trade manager with lots of features and I like how it manages a basket of trades.

I am using THV CaveManager now.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #56,114
  • Apr 21, 2015 5:52pm Apr 21, 2015 5:52pm
Quoting Phx62
{quote} Yes, I used the CM to set the original SL, TP"s and to move SL to BE after 35 pips. I also am using a 65 pip emergency trailing SL but usually close manually on consolidation or pullbacks if TP's are not hit. I found the 50 pip trailing SL to be too close for this pair.

thanks!
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #56,115
  • Apr 21, 2015 5:57pm Apr 21, 2015 5:57pm
Quoting rupasi
{quote} Im seeing a range established within the MC indicated by A. Overall trend is to the downside, blue candles look to be only retracements. I would watch for a break out of the MC range. Candles have alot of wick also and no clear direction.
well, by now you know how to avoid taking those TDI cross setups when market is in consolidation.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #56,116
  • Apr 21, 2015 9:24pm Apr 21, 2015 9:24pm
GBPCAD week 17 22 Apr D1 chart:

A few of us discussing this pair today.
What I see is there is consolidation now that the price action is supported at a Historical swing level around 1.8150.
Too early to buy on D1 chart. Trading in the lower TF like H4 and H1 is better until we see the next big move.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPCAD week 17 D1 chart BPP.png Size: 85 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #56,117
  • Apr 21, 2015 11:06pm Apr 21, 2015 11:06pm
Quoting Phx62
Three trades yesterday and today on GA H1. {image}

dear Phx62,

can you share to me your setting EA Cave Manager for your trading? thanks

best regards
  • #56,118
  • Apr 21, 2015 11:07pm Apr 21, 2015 11:07pm
Quoting Andyvix833
{quote} Ok cool, well there a couple of things that I think you will want to pay attention too... Now, this is all constructive advice/suggestions... Trade #1: Eur/Jpy 1) Your apb bar are extremely small.. look at Eelfranz charts, you will see in most of his examples the candles are much larger 2) Look back to April 17th and what do you see? I see approx 6 bars that consolidated right where you were trading into and your not very far from that previous resistance, price actually acted very normal, it went up tested that hard-core resistance area...
My thanks to all of you.
Andy
I don't know what is small candle from large candle, to my eye it looks big to your eye it may look small ? what is small and big candle in terms of pips ?
All your points about consolidations and support and resistance is understood clearly , they will be great help I will look for that in the future. My broker time is GMT . I enter trade randomly at end of H4, do you have any suggestion that may help ?
What do you mean by Post1?. I did not see any attachment pdfs , can you please post a link to "Emmanuell and Phx62" pdfs?
Kindly, can you please show me some examples? also what is the practical way to do what Emmanuell was talking about in post56112.
Your help is indeed appreciated thank you all of you for your help.
My Regards
  • #56,119
  • Apr 22, 2015 12:14am Apr 22, 2015 12:14am
Quoting eelfranz
Entries and exits... We Enter a trade when green crosses red on the TDI at the beginning of that candle... If it's candle 3 or more don't enter... find another trade set up. The only exception is if green bounces off red and continues... it's ok to re-enter on the bounce... Exit your trade when the green TDI line goes flat, starts to hook over or makes a check mark reversal. If you add other things it will influence your decisions... usually to your detrament. Don't try to complicate it thinking it can't be this easy. Important to study TDI entries...
Can't I just use that , no higher TFs no MAs. How can that be simple if MAs and TFs S/R Wkly Monly Hi Lo Previous day Current day?.
I am really confused. Where is original TMS ? Which highs and lows I have to use previous or current ? what about Average daily range ADR , volatility?
  • #56,120
  • Apr 22, 2015 1:35am Apr 22, 2015 1:35am
Quoting emmanuel7788
NZDJPY week 17 H1 20 Apr Do we see a bearish reversal chart pattern? {image}
http://www.forexfactory.com/attachme...1&d=1429522394

Hi,

You may recall the post above where I asked if we see the Head and Shoulders chart pattern on the H1 chart.
That in my opinion was a chart pattern known as Head and Shoulders. That H&S pattern occur in H1 but the big picture Weekly candle pattern show a bullish W1 candle breakout of the range set by the Weekly Candle.

Attached Image (click to enlarge)
Click to Enlarge Name: NZDJPY week 17 H1 HnS failed.png Size: 105 KB


Chart patterns and candlesticks patterns do fail in the timeframe they occur. The big picture will show us the longer term direction much better. As it is now, we are looking at NZDJPY breaking the previous month' high and high probability for a bullish April month candle close.

Good trading ahead.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
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