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Trading Made Simple

  • #57,541
  • Jun 2, 2015 5:42am Jun 2, 2015 5:42am
Quoting pips29
I took a breakout trade on H1 with e/y and have taken 1/4 out now. Wondering what cause the spike {image}
I think the Greeks found some money under the mattress to pay their bills
I've been in EJ H4 since yesterday, looking very nice
Never argue with a fool; onlookers may not be able to tell the difference.
  • #57,542
  • Jun 2, 2015 5:56am Jun 2, 2015 5:56am
Quoting Lookleft
{quote} I think the Greeks found some money under the mattress to pay their bills I've been in EJ H4 since yesterday, looking very nice
yes, looking very nice indeed for you. Yesterday's trade would be a price below 136.50
the cautious seldom err....C
  • #57,543
  • Jun 2, 2015 6:24am Jun 2, 2015 6:24am
Do we buy right after they cross or wait till daily closes after cross before buying?
Attached Image
  • #57,544
  • Jun 2, 2015 6:36am Jun 2, 2015 6:36am
Took only one trade today. Decided to take more quiet EUR/AUD, because there was a better long possibility since LO. Didn't take GBP/AUD at the right moment unfortunately, there was also really good possibility after GBP news + nice DB and divergence on M15. Both pairs went really well, but i got profit only on EA. Could have more pips, but my TP was hit when i didnt see it, so couldn't move my TP higher. Anyway, 50-85 pips a day is a good result for me on 1-2 trades a day.
Attached Image (click to enlarge)
Click to Enlarge Name: EURAUDH1.png Size: 39 KB


Also attach M15 chart, which always helps me to take a trade and to manage it.
Attached Image (click to enlarge)
Click to Enlarge Name: EURAUDM15.png Size: 28 KB
  • #57,545
  • Jun 2, 2015 6:44am Jun 2, 2015 6:44am
Quoting adikashyap
{quote} Yes Emm, A small advice from you helped me make a fortune yesterday. Initially I was long, made 140 pips. Once it started pulling back, I remembered your advice of treating WRB L as support and went short. Made another 90 pips. Thanks a lot buddy.

I don't trade XAU on H1 intraday basis but only on D1 chart.
But when I zoom out on my H1 chart, it looks very interesting how those 2 D1 WRBs showed up around historical swing price levels.
Attached Image (click to enlarge)
Click to Enlarge Name: XAU WRB and MN S&R.png Size: 76 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #57,546
  • Jun 2, 2015 6:50am Jun 2, 2015 6:50am
Quoting Mashiro
Do we buy right after they cross or wait till daily closes after cross before buying? {image}
zoom out to see where support and resistance on your chart.

basic rule: Always wait for a candle to close to confirm if it is a setup candle.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #57,547
  • Jun 2, 2015 6:56am Jun 2, 2015 6:56am
Quoting Karado58
.... Have a chart window with any pair open, better make it monthly TF for easier verification, then place Horizontal line, then drag a different pair from Market Watch over to same window. Are you experiencing the same thing? Thanks.

From your description what you did, there is nothing wrong with the platform.

All objects drawn manually in the chart window will remain in that same chart window at the exact chart position date time and price position.
when you drop another currency pair from the market watch the way you did onto the same chart window, all previously drawn objects will still be there in its original chart position. They will appear out of place on the new currency pair.

Objects drawn by indicators will not have this 'problem' as indicators will be refreshed by the price tick.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #57,548
  • Jun 2, 2015 7:11am Jun 2, 2015 7:11am
EURAUD H1 +100 (+25, +50, +25)
Almost the same trade as toledoFX
Price rejected from 200ema, first blue APB rejected YL. Entered on close of 2nd APB outside of PAC.
TP1 +25 (risk reduction) HIT
TP2 +50 (just above DOL) HIT
TP2 +75 (just above YH) NOT HIT closed manually at +25 after DT formed and M15 APB color change.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 35 KB

Not sure where the extra 4 pips came from unless the EUR spike confused CM.
Never argue with a fool; onlookers may not be able to tell the difference.
  • #57,549
  • Jun 2, 2015 7:16am Jun 2, 2015 7:16am
Quoting Lookleft
EURAUD H1 +100 (+25, +50, +25) Almost the same trade as toledoFX Price rejected from 200ema, first blue APB rejected YL. Entered on close of 2nd APB outside of PAC. TP1 +25 (risk reduction) HIT TP2 +50 (just above DOL) HIT TP2 +75 (just above YH) NOT HIT closed manually at +25 after DT formed and M15 APB color change. {image} Not sure where the extra 4 pips came from unless the EUR spike confused CM.
Well done
  • #57,550
  • Jun 2, 2015 8:22am Jun 2, 2015 8:22am
EURO spike has just crashed the USD. Trade very very carefully
Never argue with a fool; onlookers may not be able to tell the difference.
  • #57,551
  • Jun 2, 2015 8:43am Jun 2, 2015 8:43am
Great move in EURUSD, I hope it lasts!
  • #57,552
  • Jun 2, 2015 9:02am Jun 2, 2015 9:02am
EURJPY H4 +450 (+100, +150, +200)
Took this yesterday, straight forward TMS entry on APB close outside of PAC
Closed partial positions along the way.
Moved stop tight when EURO spiked (which was hit) in case it reversed on me
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 33 KB

Never argue with a fool; onlookers may not be able to tell the difference.
  • #57,553
  • Jun 2, 2015 11:01am Jun 2, 2015 11:01am
Perfect Shooting Star formation formed and a possible TDI crossover setting up on EG H1.
Attached Image (click to enlarge)
Click to Enlarge Name: Shooting Star.png Size: 67 KB
  • #57,554
  • Jun 2, 2015 11:17am Jun 2, 2015 11:17am
Quoting emmanuel7788
{quote} From your description what you did, there is nothing wrong with the platform. All objects drawn manually in the chart window will remain in that same chart window at the exact chart position date time and price position. when you drop another currency pair from the market watch the way you did onto the same chart window, all previously drawn objects will still be there in its original chart position. They will appear out of place on the new currency pair. Objects drawn by indicators will not have this 'problem' as indicators will be refreshed...
Thank you Big Emm, I'm still getting used to MT4. Coming over from Ninja Trader it was a huge change!

When you have time, I would appreciate your thoughts on post: Post 57,494

Thank you again Emmanuel.
  • #57,555
  • Edited 6:28pm Jun 2, 2015 6:10pm | Edited 6:28pm
Hi! fortunemaker
As concerned your reference to post #302, I hope you won't mind me explaining. Below is the daily chart where candle 1 is the set up candle and candle 2 the entry candle. If you had entered at the beginning of candle 2 you would suffer a dd of 80 pips before the trade turns in your favour. This is what big E meant by the" pullback is big " ( someone correct me if I am wrong). There are traders who will time their entry using fibs i.e wait for a retracement to the 38.2 or 50 or moving to a lower timeframe for entry. Hope this helps. Incidentally, a similar situation is happening now .The daily closed with a change of apb colour and a bullish engulfing one too. How would you trade this?anyone? Edit: daily with candlesticks Edit: 15 min chart with fibs drawn on yesterday's candle
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GBPUSDDaily.png Size: 39 KB
Click to Enlarge Name: GBPUSDDaily2.png Size: 42 KB
Click to Enlarge Name: GBPUSDM15.png Size: 40 KB
the cautious seldom err....C
  • #57,556
  • Jun 2, 2015 8:14pm Jun 2, 2015 8:14pm
Quoting pips29
Hi! fortunemaker As concerned your reference to post #302, I hope you won't mind me explaining. Below is the daily chart where candle 1 is the set up candle and candle 2 the entry candle. If you had entered at the beginning of candle 2 you would suffer a dd of 80 pips before the trade turns in your favour. This is what big E meant by the" pullback is big " ( someone correct me if I am wrong). There are traders who will time their entry using fibs i.e wait for a retracement to the 38.2 or 50 or moving to a lower timeframe for entry. Hope this helps....

Good post!

The current D1 chart 3 Jun market type is not the same as in the earlier setup you mention candle 1 and 2.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD D1 chart 3Jun.png Size: 56 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #57,557
  • Jun 2, 2015 8:26pm Jun 2, 2015 8:26pm
Quoting Karado58
{quote} Hi Big Emm, We're going to have to start calling you Professor from now on; thanks so much for the detailed explanation! Unfortunately I live in the same time zone as eelfranz used to, midnight is my LO and close is at 8am. LO appears to be where the biggest moves occur, at least from my observations. Initially I really don't want to be concentrating on more then 1 or 2 pairs, it can get overwhelming for a beginner any more then that. Any recommendations? I read that EU and GU should be considered for a newbie to concentrate on initially?!...
Hi,

First, no more name calling. It can annoy some people.

For those who are completely new to trading forex and want to trade with TMS 5-Method and want to trade H1 intraday, starting by trading just one pair is good. It can be either EU or GU.

But for those who have already gain experience, looking at more pairs means you need to spend more time and do your Big Picture Plan and be better prepared ahead of the market session and your trading hours.

But when you are trading D1 chart, you won't find so often trade setup opportunities because there are only 5 D1 candles in one week. So that mean you will have to look at more pairs to get more trades.

H4, is something in between H1 and D1, there are 30 H4 candles in one week, so there will be more trade opportunties.

Besides, you need to know many things about the currency pairs you want to trade, its volatility periods, trading range, etc.

You also need to read up on the different currency pairs and what move the currency market.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #57,558
  • Jun 2, 2015 9:10pm Jun 2, 2015 9:10pm
Quoting emmanuel7788
{quote} Hi, First, no more name calling. It can annoy some people.
Sorry Emmanuel, didn't mean to pi$$ you off.
Thank you for the reply.
Karado
  • #57,559
  • Jun 2, 2015 9:25pm Jun 2, 2015 9:25pm
Attached Image (click to enlarge)
Click to Enlarge Name: 03jun15.png Size: 155 KB
  • #57,560
  • Jun 2, 2015 9:45pm Jun 2, 2015 9:45pm
Quoting Vnp
{image}
Hi,Vnp，
I found that GU is the only pair you trade.isn't it ?
Regards.
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