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Trading Made Simple

  • #57,601
  • Jun 4, 2015 12:03pm Jun 4, 2015 12:03pm
Quoting tibovwh
{quote} that's some nice pips you got there I thought I had a good day Some quick questions (forgive me if you have answered these before): I see you don't use a PAC or MA to confirm your signal. Is there any particular reason behind this? Do you think you loose too many pips waiting for it? I also assume you dont wait on the close of the 1H candle to get in? best,
Hi,
My personal reason for not using a PAC or MA to confirm is that in my experience if i use those, when i have a negative trade the SL is too big.
Thats what i think however you should try the things that fit you best and have been worked well for you.

About the entries i would recommend you to look at Phx62 entries and make your own conclusion. I think he is the best at entries. http://www.forexfactory.com/search.p...rchid=15788398

Have the best day ever my friend
Rajitomate.
  • #57,602
  • Jun 4, 2015 12:35pm Jun 4, 2015 12:35pm
Quoting bigcakex
{quote} Hi,Vnp, Thanks for your reply,i found that GU is a good pair to trade ,and i also pay a lot of attention on this pair , Here is my GU trades today. 4 trades. Regards. {image}
great
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  • #57,603
  • Jun 4, 2015 12:36pm Jun 4, 2015 12:36pm
Quoting Rajitomate
{image} {image}{image}{image}{image}{image}

You are the silent killer here...
  • #57,604
  • Jun 4, 2015 12:37pm Jun 4, 2015 12:37pm
Hi Rajitomate, could you tell me what HA candles are you using..I use Synergy bars from begining of this threaad, and the color on some bars is different on mY chart?
  • #57,605
  • Jun 4, 2015 4:05pm Jun 4, 2015 4:05pm
Quoting emmanuel7788
{quote} Hi Fortunemaker, Sorry, I am busy this week and will reply your post 57,534 later. It will take time as I need to do the charts with explanation which I feel is important for trading the D1 chart. regards,
Hi Emmanuel,

I really appreciate your self-less and unconditional help to the new traders. I will wait for your valuable guidance. If possible, please also include H4 charts for trading. Thanks.
  • #57,606
  • Jun 4, 2015 6:17pm Jun 4, 2015 6:17pm
I have been reading up some more on volatility of currency pairs and on pip values. I sorted important pairs on ATR of last 2 weeks and it appears GBPNZD EURNZD GBPAUD EURAUD GBPJPY EURJPY are some of the more volatile pairs. I compared this to the ATR (14) values on daily charts from my platform and the results were alike (although the numbers were a bit different). Looking at volatility in terms of $ (thus corrected for pip values) the results remain robust.

I went on to look at historical 4H charts of GBPAUD. When going through I did find a lot of big moves. However, I also saw a few signals that retraced quite a bit before continuing in the direction of our trade. I included some charts with a few examples. This made me think about my S/L. I've read a few posts that seemed to suggest an emergency S/L of 50 pips. I believe this is quite wide tho and many ppl use a smaller S/L? What's your experiences with being stopped out only to see it continue?

Basically, I'd love to hear some of your opinions on S/L levels and its relation to TF. Do you use different S/L levels per TF? Do you apply a fixed S/L on all pairs or do you use wider S/L on the more volatile pairs?

Also, how many of our trades should be expected to reach a S/L? I mean, if I look at my charts and I close when the TDI hooks or w/e I can close manually. So as long as I can watch all new candles our S/L can be more of an actual 'emergency' stop.

I've included some example charts. Mainly I wanted to illustrate my S/L questions but feel free to comment on the entries if you like! Any feedback is welcome

(My apologies if this is something that has been discussed and documented extensively in the thread. I'm still struggling my way through the pages )
Attached Image(s) (click to enlarge)
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  • #57,607
  • Jun 4, 2015 6:42pm Jun 4, 2015 6:42pm
Quoting omonisha
GBPUSD-D1 {image}
You always have such beautiful clean trades. What time of day do you generally trade? Is it LO?
  • #57,608
  • Jun 4, 2015 6:53pm Jun 4, 2015 6:53pm
Quoting MrAussieFX
This afternoon (around 3:00 pm AEST) when I get a new 4Hr candle, I spotted a strong TDI cross on EA daily, one of a kind you don't wanna miss which I'll discuss in next post but below is how I prepared myself for this particular trade and what were the results. How was my Daily chart looking ? {image} How was my EA H4 was looking ? {image} Why did I put the pending order ? Candlesticks view {image} APB view {image} Pullback confluences on H1 chart ? {image} Profit target hit {image} Kindest Regards
Great explanation. Thanks for that!

On the APB 4H view, you draw attention to the nice bounce exiting the VB. Is that to indicate that we should look for the pullback toward the fib levels before entering? In this case, you would then enter as a 4H trade after a pullback to the fib, given a signal on the 1H?
  • #57,609
  • Jun 4, 2015 7:28pm Jun 4, 2015 7:28pm
I took a trade on the 4H timeframe and I thought i'd let set S/L and TP and check in the morning. A bit later I checked the 1H TF. I guess this is the mistake in my trade already. Should have looked at this before entering.

Should I close it right away or can this still be a valid trade? What's your opinion?
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  • #57,610
  • Jun 4, 2015 7:36pm Jun 4, 2015 7:36pm
Quoting MrAussieFX
Which TDI cross will you take ?....
Hi MrAussie! Thnk u for your analysis of TDI, its very helpful for new traders like me.
Winners Never Quit, Quitters Never Win
  • #57,611
  • Jun 4, 2015 10:21pm Jun 4, 2015 10:21pm
Some old posts by Big E which I think is worth reading again for many traders here.
These posts should answer many questions asked frequently.

Attached Image (click to enlarge)
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Always remember that Big E traded with the TDI Red Green version of the TDI he posted early in the thread. That version updates (paints) only at the close of each candle.
Therefore when you read his posts written in English he meant exactly what he sees the chart in realtime.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #57,612
  • Jun 4, 2015 10:35pm Jun 4, 2015 10:35pm
I know this chart doesn't look like TMS at all, i am posting for the simple reason of maybe having some of the wiser members chime in (em and others)

A month or so ago I started out with TMS and had a bit of success then it seemed to die off, i have simplified things down to what suits me and my trading style and have also added in the use of trendlines and taken out the APB to get more of a feel more the market and chart patterns.

anyway as i said, just posting this up for anyone whos interested or may learn from it, this simple system has given me a 70% success rate over the last 2 months.

please let me know what you think or if this isn't relavant to the discussion i will kindly take it else where.

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-hayden
  • #57,613
  • Jun 5, 2015 12:22am Jun 5, 2015 12:22am
Quoting haydo147
I know this chart doesn't look like TMS at all, i am posting for the simple reason of maybe having some of the wiser members chime in (em and others) A month or so ago I started out with TMS and had a bit of success then it seemed to die off, i have simplified things down to what suits me and my trading style and have also added in the use of trendlines and taken out the APB to get more of a feel more the market and chart patterns. anyway as i said, just posting this up for anyone whos interested or may learn from it, this simple system has given...

Hi haydo,

... 70% success in 2 months does not mean much.
A winning system has to be tested over much longer term than 2 months. The market has its own cycle and definitely not 2 months.
Run your system for 100 trades, then 200 trades, then 300 trades and see what your win rate and expectancy is.

Eelfranz aka Big E spent 6,000 hours: Post#6 and he evolved as a trader and went on and developed two trading methods.
Please read all of Big E posts here in FF, he made a total of 1480 posts, 861 post in the original thread he started where he share the 5-Method and the 21/233 Method.
5-Method and 21/233 Method Post#3018, Post#4104,
After months of postings and answering many frequently asked questions FAQs,
Eelfranz said make the jump to to the new TMS thread 26 Aprl 2011... Post#4432
He moved the 5-Method discussion to this TMS thread and he made 463 posts here.

He wants us to discuss only his 5-Method in this TMS thread and he wants us to build this TMS thread together... Post#4,432

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #57,614
  • Edited 1:37am Jun 5, 2015 12:48am | Edited 1:37am
Quoting emmanuel7788
{quote} Hi haydo, ... 70% success in 2 months does not mean much. A winning system has to be tested over much longer term than 2 months. The market has its own cycle and definitely not 2 months. Run your system for 100 trades, then 200 trades, then 300 trades and see what your win rate and expectancy is. Eelfranz aka Big E spent 6,000 hours: Post#6 and he evolved as a trader and went on and developed two trading methods. Please read all of Big E posts...
While I understand what your saying and your 100% correct, your stats speak for themselves.

Although i think the biggest issue with TMS is giving people a bunch of indicators and advice and saying when this happens do this, or when this occurs make this decision simply does not work. There are far too many variables in the market that without the basic and fundamental knowledge of forex (yes i did 2 years of complex study before entering this thread) simply does not work

I think thats the reason why this thread has so many newcomers coming and going and the real only money makers in here like yourself and the big names are people who take this stuff seriously and have the knowledge, not people looking for a quick fix or a signal based system.

Alot of the material posted here is simply the same stuff copy and pasted repeated over and over and over. In saying this I do hold the utmost respect to the late eelfranz and people like yourself and i hope you don't take what im saying in a attacking way,

Just my opinion
  • #57,615
  • Jun 5, 2015 3:36am Jun 5, 2015 3:36am
EA H1 long at LO opens for +50 pips on the break of FO H1 candle
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I Have Learned to Take Some Losses to Make Profits
  • #57,616
  • Jun 5, 2015 4:15am Jun 5, 2015 4:15am
Quoting TheScorpS
EA H1 long at LO opens for +50 pips on the break of FO H1 candle {image}
Nice and clean trade as usual TS
Never argue with a fool; onlookers may not be able to tell the difference.
  • #57,617
  • Jun 5, 2015 4:19am Jun 5, 2015 4:19am
Quoting emmanuel7788
{quote} Hi, AU strong bullish rally and just broke high this week. Low timeframe correction is possible and to close this month but no reversal seen yet. Divergence can fade away as they appear. Study divergence trading in John Hayden' book "RSI:The Complete Guide". You will learn lot about price behaviour and the RSI (TDI) behaviour, also also how to spot momentum discrepancy reversals. RSI: The Complete Guide Post#27,110 regards, Edit: added AU D1 chart AUDUSD was trading...
do you mark yourself the weekly high and low or is there a indicator for it?
  • #57,618
  • Jun 5, 2015 4:56am Jun 5, 2015 4:56am
Quoting TheScorpS
EA H1 long at LO opens for +50 pips on the break of FO H1 candle {image}
I tried the same entry but couldn't get my order filled for some reason kept trying and got a later entry, CM closed 1/3rd at 30 pips and moved SL to BE then got stopped out.
Attached Image (click to enlarge)
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  • #57,619
  • Jun 5, 2015 5:15am Jun 5, 2015 5:15am
Quoting TheScorpS
EA H1 long at LO opens for +50 pips on the break of FO H1 candle {image}
Same reason ... same result ...
Attached Image (click to enlarge)
Click to Enlarge Name: EURAUDH1.png Size: 35 KB
  • #57,620
  • Jun 5, 2015 5:23am Jun 5, 2015 5:23am
Quoting tibovwh
I have been reading up some more on volatility of currency pairs and on pip values. I sorted important pairs on ATR of last 2 weeks and it appears GBPNZD EURNZD GBPAUD EURAUD GBPJPY EURJPY are some of the more volatile pairs. I compared this to the ATR (14) values on daily charts from my platform and the results were alike (although the numbers were a bit different). Looking at volatility in terms of $ (thus corrected for pip values) the results remain robust. I went on to look at historical 4H charts of GBPAUD. When going through I did find a lot...
Hi tibovwh,
As far a S/L go there is no magic number which people seem to think. It all depends on the pair, TF, market session etc.
An initial S/L is used to minimize risk and I can say that mine never gets hit .
I trade mainly H1 and use an emergency S/L of either 50 pips or outside the PAC (never bigger than 70 pips). Once the trade is going in my favor I'll move the IS/L to 25-30 pips. If the trade goes against me 25-30 pips, I'll close it, put it down as a bad entry, accept it as a business expense and either look to re-enter or for another trade. As I trade for a living, there is no way I'm going to sit there and give 50 pips away due to a mistake.
Once the trade is going in my favor by 25-30 pips I'll move the S/L to BE (zero risk). As the trade progresses the S/L will me moved to protect profits. Leaving a trade to just run without management just won't work. Price will always get back to your entry eventually.
If you are trading H4 and worried about the size of S/L you can always take the trade initially on H1 and then manage it on H4 although this needs practice.
As the old saying goes, "If your S/L gets hit the market is telling you that you made a bad entry or had bad trade management"

Couple of video links that may help.
https://www.compassfx.com/video/flash/62711/62711.html
https://www.compassfx.com/video/ip/32512/32512.html

cheers
Never argue with a fool; onlookers may not be able to tell the difference.
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