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Trading Made Simple

  • #57,221
  • May 21, 2015 12:35pm May 21, 2015 12:35pm
Quoting hsn100
{quote} Hi MrAussieFX! Thnk u for your simple and easy to understand explanation of your trades. Just one question: Will you explain "retest of previous structure" and how u draw the "structure lines" on your chart. Just wanted to know the technique about "structure". Regards,
hsn100, There are different ways of how you look at your charts and see the structure levels.

Some important points to remember:
1. Zoom out on your chart to see the structure levels
2. Daily and H4 structure levels plays important role if you are trading on H1 TF.
3. Resistance and support lines are not the set values but zones where PA reacts accordingly.


Below are some of the different ways one can see structure levels on his/her chart

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If you wanted to learn more about the structure watch the video below (Its Free nothing to buy here, just good stuff)

Inserted Video


Kindest Regards
  • #57,222
  • May 21, 2015 1:59pm May 21, 2015 1:59pm
Quoting MrAussieFX
{quote} hsn100, There are different ways of how you look at your charts and see the structure levels. Some important points to remember: 1. Zoom out on your chart to see the structure levels 2. Daily and H4 structure levels plays important role if you are trading on H1 TF. 3. Resistance and support lines are not the set values but zones where PA reacts accordingly. Below are some of the different ways one can see structure levels on his/her chart {image} {image} {image} {image} {image} If you wanted to learn more about the structure watch the video...
Thanks MrAussieFX for this!
  • #57,223
  • May 21, 2015 2:00pm May 21, 2015 2:00pm
I have a love hate relationship with the Daily Open Line, alot of the time, i wouldn't take trades due to price being close to it but price would go straight through it.

oh well, least i'm careful right
  • #57,224
  • Edited 6:22pm May 21, 2015 5:45pm | Edited 6:22pm
Quoting MrAussieFX
EA H1 sell losing trade {image} Kindest Regards
Hi MrAussieFX,

I like your honesty about this EJ trade.
The part about R:R being 1:1 with SL 50pips and TP 50pips, and without possibility to manage this trade manually, the 'set and forget' approach is best.
But single entry and single exit is not effective when we use 'set and forget'.

Technically, when we look back to the number of H1 candles before your entry, there were more than 20 small candles and this should have raised the alarm, what is H4 doing? Also looking at the H1 TDI, the Red is trailing above the Yellow for that same 20 H1 candles. This is what the H4 TDI Green over Red.
So, you traded against the H4 TDI in a very low volatility period where the momentum of the shorter term over the longer term is not in your favour.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #57,225
  • May 21, 2015 5:55pm May 21, 2015 5:55pm
Quoting emmanuel7788
{quote} Hi MrAussieFX, I like your honesty about this EJ trade. The part about R:R being 1:1 with SL 50pips and tP 50pips, and without possibility to manage this trade manually, the 'set and forget' approach is best. But single entry and single exit is not effective when we use 'set and forget'. Technically, when we look back to the number of H1 candles before your entry, there were more than 20 small candles and this should have raised the alarm, what is H4 doing? Also looking at the H1 TDI, the Red is trailing above the Yellow for that same 20...

Hi Emm

Thanks for such a valuable review of this trade.

Best Regards
  • #57,226
  • May 21, 2015 6:10pm May 21, 2015 6:10pm
80 points is enough, I decided not to risk more
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  • #57,227
  • May 21, 2015 7:09pm May 21, 2015 7:09pm
Quoting mokuro89
About MC, candle 1 closed outside the MC range, is candle 2 a valid entry, even being in the range of MC? One candle breaking the MC is enought to invalidate it? even if the price revert 1 candle after it? in this case the candle 2 had a good tdi setup {image}
http://www.forexfactory.com/attachme...1&d=1432219668
Quoting mokuro89
{quote} yes, there is many things to see before a good setup, my question is about WC specific, does candle 1 invalidate the WC? so I could check for all the other factors for entry at candle2, but would that WC be one of this factors, or is it already invalidated?
Answer: No, candle 1 will not invalidate the MC.
The MC will remain a MC on our chart.

The way I see it:
Candle 1 is the MC breakout candle setup without considering the HTF and the TDI in this example.
Candle 2 will invalidate this setup but not the MC.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #57,228
  • May 21, 2015 7:15pm May 21, 2015 7:15pm
EURJPY D1 chart trading:

I'll be staying away from this pair for a few more days until I see a clearer picture.

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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #57,229
  • May 21, 2015 7:22pm May 21, 2015 7:22pm
Quoting emmanuel7788
GBPAUD and GBPNZD H4 looking good ....

Took both trade setup using the H4 WRB breakout with view to the D1 candle. Closed both trades last night before London close hour as I plan to shutdown for the weekend.

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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #57,230
  • May 21, 2015 7:30pm May 21, 2015 7:30pm
Quoting shay14
I have a love hate relationship with the Daily Open Line, alot of the time, i wouldn't take trades due to price being close to it but price would go straight through it. oh well, least i'm careful right
To use the Daily Open Line effectively, you need to start the new day by looking at the Day candle close of the previous day.
Look at the Japanese candles - what is the body size in relation to the entire candle high-low. If small body with long wicks at both ends, avoid trading the follow through or the continuation H1.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #57,231
  • May 21, 2015 11:16pm May 21, 2015 11:16pm
is this right if i enter now ( during tokyo session )
price already break ema 10 ( blue ) which is quite strong resistent as price tried to break it before and fail
tdi also confirm bounce trade
my target is the blue circled

anyway , thanks omniosha and big emm for the information
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Take What You Can , Give Nothing Back
  • #57,232
  • May 21, 2015 11:30pm May 21, 2015 11:30pm
Quoting MrAussieFX
{quote} hsn100, There are different ways............Resistance and support lines are not the set values but zones where PA reacts accordingly. Below are some of the different ways one can see structure levels on his/her chart {image} {image} {image} {image} {image} If you wanted to learn more about the structure watch the video below (Its Free nothing to buy here, just good stuff) https://www.youtube.com/watch?v=9K0gfY9teAw Kindest Regards
Wow! Now i get a handle on this "structure thing". Bundle of thnx for such a great explanation and for your precious time!

Regards,
Winners Never Quit, Quitters Never Win
  • #57,233
  • May 21, 2015 11:43pm May 21, 2015 11:43pm
Quoting Donquixote
is this right if i enter now ( during tokyo session ) price already break ema 10 ( blue ) which is quite strong resistent as price tried to break it before and fail tdi also confirm bounce trade my target is the blue circled anyway , thanks omniosha and big emm for the information {image}
few things I always ask myself before I start looking for setups to trade.

what is the market type?
- is it trending? Up or down?
- is the trend short term of long term, MTF analysis.
- is it sideways? wide range or narrow range? sideways Up or Down? what is the range?

support and resistance
- where are the nearby support and resistance?

price action
- what are the size of the recent price bars or Japanese candles?
- what price action seen with the APB candles show

timing
- is the timing good for trading? which market session, session opening, session closing?
- how much time remaining till the current candle closing?
- if trading H1, how much time before the next news candle?
- if 4H swing trading, is today Friday? if yes means no opening of new trades.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #57,234
  • May 22, 2015 1:02am May 22, 2015 1:02am
Quoting MrAussieFX
{quote} hsn100, There are different ways of how you look at your charts and see the structure levels. Some important points to remember: 1. Zoom out on your chart to see the structure levels 2. Daily and H4 structure levels plays important role if you are trading on H1 TF. 3. Resistance and support lines are not the set values but zones where PA reacts accordingly. Below are some of the different ways one can see structure levels on his/her chart {image} {image} {image} {image} {image} If you wanted to learn more about the structure watch the video...
MrAussieFX:
Thank you for your self analysts, on this trade as well as others!! You are providing a very valuable insights for all us newbies!!
Thank you!!
  • #57,235
  • May 22, 2015 1:06am May 22, 2015 1:06am
Quoting hishamzz
Hi Guys, Another long time lurker of TMS . Been reading the entire thread and witnessed the evolution of TMS into a pip vacuum cleaner Just summarized most of what I have had read and have included them in the attached excel sheet. Tab 1 includes the checklist formulated by Dean who is unfortunately not active on the thread anymore. This tab could be removed. Tab 2 is somewhat like a dashboard of the trade criterias etc. Tab 3 has the candlestick patterns shared within this thread Would really appreciate if any of the seniors could have a quick...
hishamzz:
You managed to encapsulate a lot of TMS priceless knowledge into a single, easy to access document!!
Much appreciated, thank you!!
  • #57,236
  • Edited 1:37am May 22, 2015 1:26am | Edited 1:37am
I just finished reading and creating a rough document with all precious charts and posts going back to Big Emm's post for begginers, 55,982 till now, and extracting all the teaching materials!!! Amazing!! Once I clean it up (format it) I'll of course share it.

So much to digest and I only went back to Apr 16, 2015; some charts require time to fully grasp what the poster is explaining, at least for me they do. Each chart tell a story. But, like Big Emm says, the best way to learn is to just post your charts and learn from the comments they generate.

The valuable contributors are are a few, but I have to single out Big Emm. Each and every of the many charts he posts, are full of insights on what a veteran and successful trader sees and reacts to each day!!

Big thank to all you trading veterans, in spite of having to do your trading, take the time to continually contribute to this thread and help us newbies!!!

THANK YOU!!
  • #57,237
  • May 22, 2015 1:53am May 22, 2015 1:53am
Quoting Karado58
{quote} hishamzz: You managed to encapsulate a lot of TMS priceless knowledge into a single, easy to access document!! Much appreciated, thank you!!
Most welcome Karado!

Big Emm/AussieFX/Senior folks - What pair do you guys suggest that I should start training on? Looking at the volatility (https://www.mataf.net/en/tools/02-01-volatility) alone would not provide you a perfect pair as some of them are quite erratic in their moves. is EURAUD a good starting point?

Also a quick question.. Where does the 10EMA come into play? I would have missed that unfortunately. I want to focus on H4 trading with H1 for intraday. My idea is to have the trades propagated through the timeframes. Kick off trade in H1 and a follow up trade in H4 if the conditions are right.

Please advice.

Thanking You,
Zz
  • #57,238
  • May 22, 2015 2:43am May 22, 2015 2:43am
GBPAUD, GBPNZD and GBPCAD pairs are looking good on H1 for some small moves.
With BoE Carney speaking today and later CAD key data release, these are the risk factor but also the prime mover for Friday weekly closing.

Good for demo to practise and test your exit strategy.
Preserving trading capital remains the top priority.

Trade Safe!
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #57,239
  • May 22, 2015 3:01am May 22, 2015 3:01am
Hello,I want to thank you everyone who's trying to progress or teach this method.I started to trade with this method and i have question: Can i use SYNERGY PRO TDI instead of TDI?
Which one is better or more reliable?
Thank you
  • #57,240
  • May 22, 2015 3:03am May 22, 2015 3:03am
Quoting hishamzz
{quote} Most welcome Karado! Big Emm/AussieFX/Senior folks - What pair do you guys suggest that I should start training on? Looking at the volatility (https://www.mataf.net/en/tools/02-01-volatility) alone would not provide you a perfect pair as some of them are quite erratic in their moves. is EURAUD a good starting point? Also a quick question.. Where does the 10EMA come into play? I would have missed that unfortunately. I want to focus on H4 trading with H1 for intraday. My idea is to have the trades propagated through the timeframes....
Hi hishamzz,
Good pairs to start with are EA, EU and GU as you will find a lot of traders here post their charts on these pairs which will help with your learning process. You could add GA and AU at a later date. Watch the pairs and see how they react with each other. I would suggest avoiding JPY pairs at first as they are quite volatile and can be tricky to trade.
As far as the 10ema goes, this is used by aggressive traders as a means of entry. If you are starting out stick with the PAC which will also help with setting your S/L.
Hope this helps.
Never argue with a fool; onlookers may not be able to tell the difference.
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