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Trading Made Simple

  • #57,761
  • Edited 2:49am Jun 10, 2015 2:22am | Edited 2:49am
Quoting birdnest
Calling in the D traders! On an average per week, how many setups do you guys see? Also, how do you curb the part of being obsessive with the trades? Maybe I should bite my fingers or tape my fingers up to like a ball.....
there are only 5 D1 candles in one week.
but there are 20 D1 candles in one month.

when you trade D1 chart TF, there will be more CONTINUATION setups than REVERSAL setups during the trading week,
there will always be CONTINUATION trade setups during the week.

out of the 12 currency pairs I monitor, I get at least 5 REVERSAL trades every month.

as TMS 5-Method traders, it is better to look for trade opportunities starting from the higher TF Weekly, Daily, H4 then H1.

Just look at the GBPUSD example I posted since last week. After that D1 WRB appeared, we did not have any D1 reversal trades for several days but we had several days where we could have taken H1 trades when market was sideways within the D1 WRB range.

Different TFs, same trading rules but different trading ranges, different volatility, ...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #57,762
  • Jun 10, 2015 2:25am Jun 10, 2015 2:25am
Quoting FxLapozi
{quote} Red news ahead in 1hour time. Might push it further up or might drag it back to the zone.

Once the market direction is set, news seldom reverse the higher TF. It is the intraday traders who get set up by the market.
Go back and study all the NFP days on D1 chart. How often do NFP reverses the established trend.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #57,763
  • Jun 10, 2015 2:32am Jun 10, 2015 2:32am
Quoting rupasi
{quote} Thank you! Sorry about your computer. Hope you had a great weekend. Would you be willing to share your thoughts about the steps you take before a trade? That is, when you post a winning trade, could you walk me through how you did your analysis? When I see your trade execution, it looks perfect. Then when I do my own analysis, it seems like there are more questions than answers. Perhaps if you did this a time or two, it would help me get inside your trading mind. I live in Big E's time zone so am not able to trade London session but do...
Hi rupasi

It depends on the situation how i approach to the trade. Different situation different approach. I am at learning stage too. But basically every weekend i analyse my pairs. Mark the recent strong and minor areas with the trend. If i see price heading to those area i quickly mark areas of confluence space etc.. wait to see a candle pattern or a pull back near those area with TDI confirmation.

Hope i understand you
Sad i'm not trying to understand PA
  • #57,764
  • Jun 10, 2015 5:29am Jun 10, 2015 5:29am
Can anyone tell me if this a proper setup? I couldn't resist taking this trade.
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  • #57,765
  • Jun 10, 2015 5:31am Jun 10, 2015 5:31am
Here is a better screen shot, sorry doing this for the first time.
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  • #57,766
  • Jun 10, 2015 5:41am Jun 10, 2015 5:41am
Quoting rabhni
Here is a better screen shot, sorry doing this for the first time. {image}
I'm in there too

Around the same time I took this one :
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  • #57,767
  • Jun 10, 2015 6:06am Jun 10, 2015 6:06am
Took only two trades per plan today on live acc.

UC trade
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GU trade
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Winners Never Quit, Quitters Never Win
  • #57,768
  • Jun 10, 2015 6:19am Jun 10, 2015 6:19am
Took GJ after news and H1 divergence with TDI crossover , +50 pips
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I Have Learned to Take Some Losses to Make Profits
  • #57,769
  • Jun 10, 2015 7:04am Jun 10, 2015 7:04am
Quoting emmanuel7788
GBPUSD D1 chart {image}
Hi Emmanuel,

In D1 this candle is in between 50 & 200 EMAs and near to 15500 level. In H4 and H1 it is not the first or second candle crossing PAC. How to take this trade. Thanks.
  • #57,770
  • Jun 10, 2015 8:59am Jun 10, 2015 8:59am
Quoting TheScorpS
Took GJ after news and H1 divergence with TDI crossover , +50 pips {image}
Nice catch TS I missed that one.
Never argue with a fool; onlookers may not be able to tell the difference.
  • #57,771
  • Jun 10, 2015 10:03am Jun 10, 2015 10:03am
Quoting Donquixote
{quote} i was like you i think this will help you {image} this will 80% answer your question
Hi Donquixote,

I knew there was at least one person wiling to help a newcomer in this gigantic thread. It's just I'm new to FF as well, and didn't realize the Paperclip and the quick access it gives to files posted.

Thank you very much Donquixote!
  • #57,772
  • Jun 10, 2015 10:07am Jun 10, 2015 10:07am
Just entered this trade after closing the GJ for 50 pips. Any comments?
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  • #57,773
  • Jun 10, 2015 10:28am Jun 10, 2015 10:28am
Quoting fortunemaker
{quote} Hi Emmanuel, In D1 this candle is in between 50 & 200 EMAs and near to 15500 level. In H4 and H1 it is not the first or second candle crossing PAC. How to take this trade. Thanks.
Hi,

I use multiple entries when trading D1 chart.
You can use H1 and find PA entries today when you see yesterday D1 candle close above the WRB High.

I tried to PM you but I think you disable your PM in your profile. Can you PM me if possible.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #57,774
  • Jun 10, 2015 10:34am Jun 10, 2015 10:34am
Quoting emmanuel7788
{quote} Once the market direction is set, news seldom reverse the higher TF. It is the intraday traders who get set up by the market. Go back and study all the NFP days on D1 chart. How often do NFP reverses the established trend.
Kudos emmanuel. I did some reading of chart after your post.

Despite the red news, GBP pushed north more than the ADR.
  • #57,775
  • Jun 10, 2015 8:08pm Jun 10, 2015 8:08pm
Quoting emmanuel7788
GBPUSD D1 chart {image}
http://www.forexfactory.com/attachme...5&d=1433920113



GBPUSD D1 chart update Thursday 11 June:

We had a strong bullish rally yesterday after the breakout of the D1 WRB High. Market tested the Historical resistance 1.5539 and close just below it.
Today bias is to buy based on the price action and the positive momentum seen with the TDI.
But the challenge would be to get into the market with a good entry price.

Two possibilities:

1) Look for retracement entry in lower TF H1.

2)Trade away from today' Day Open in lower TF H1 also M15 is possible.

2) Take the PA break above yesterdays' high.

Caution: On days like this, there will be fakey in H1 because there will be many buyers stops below. Better not to take any counter trend trades.


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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #57,776
  • Jun 10, 2015 8:43pm Jun 10, 2015 8:43pm
Quoting emmanuel7788
{quote} http://www.forexfactory.com/attachme...5&d=1433920113 GBPUSD D1 chart update Thursday 11 June: We had a strong bullish rally yesterday after the breakout of the D1 WRB High. Market tested the Historical resistance 1.5539 and close just below it. Today bias is to buy based on the price action and the positive momentum seen with the TDI. But the challenge would be to get into the market with a good entry price. Two possibilities: 1) Look for retracement entry in lower TF H1. 2)Trade away from today' Day Open...
Hi Emmanuel,

I'm still a beginner reading through the thread, I just took 3 trades on the demo Big E style night time off the 4HR Chart; I've been doing them for a couple of weeks waking up to check them like he used to do, with good results.

Given your last post I saw what you meant on the day chart of the GBPUSD, should I always check the day chart before a trade at night, did I do anything wrong on these?

Thanks!

D
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  • #57,777
  • Edited 2:31am Jun 11, 2015 2:15am | Edited 2:31am
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i think i want to sell at the start of the next candle but, the next candle there will be news , what do you guys think?
anyone make trade today?
Take What You Can , Give Nothing Back
  • #57,778
  • Edited 3:09am Jun 11, 2015 2:46am | Edited 3:09am
Hello traders

Just noticed recently every pair I follow follows the euro usd, pip for pip is this true? Because if it is then really surely it only makes sense trading the euro usd surely?
I follow 6 pairs. And they all move when the euro moves, then stops when the euro stops. Or. Maby its just me? Or is it just at significant moments like now when the euro looks like its going sideways Moby??

Do every pair mirror the euro pip for pip all the time?

Thanks to this thed my trading has vastly improved, been trading mini lots for 2 weeks 5.4%, with. Real money so thank you very much, trading h4 / 1 is so much easer, thinking Moby trading just with daily weekly charts, I never ever switch to lower time frames so confusing.

Thank you
  • #57,779
  • Jun 11, 2015 2:53am Jun 11, 2015 2:53am
Quoting Donquixote
{image} i think i want to sell at the start of the next candle but, the next candle there will be news , what do you guys think? anyone make trade today?
Price has just broke a key area now testing. Not much room for H4 trade below. There is the 200 EMA just near RN-1.5400.

Trade safe
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Sad i'm not trying to understand PA
  • #57,780
  • Jun 11, 2015 2:57am Jun 11, 2015 2:57am
Quoting omonisha
{quote} Price has just broke a key area now testing. Not much room for H4 trade below. There is the 200 EMA just near RN-1.5400. Trade safe {image}
Hi omonisha is that an indi that draws the weekly and monthly hi & lo's? if it is would you mind sharing it.
thanks
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