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Trading Made Simple

  • #58,181
  • Jun 22, 2015 1:36pm Jun 22, 2015 1:36pm
Quoting rabhni
{quote} I see a short trade on EU, would you take this if you had seen this? {image}
Hi Rabhni,
Sorry I didn't see this as I had shut up shop for the day. Nik gave pretty much the same answer as I would have done. If you look back at EU you will see that once NY closes it tends to go into consolidation mode (sleep time). Having just looked at it, if it doesn't do anything silly overnight (Greek news) a long might be on the cards. But we'll have to wait for the market to come to us
cheers
Never argue with a fool; onlookers may not be able to tell the difference.
  • #58,182
  • Jun 22, 2015 2:31pm Jun 22, 2015 2:31pm
Quoting faust91
{quote} Multiple entries/ Multiple exits.. look in attachments, you will find pdf`s about that..
Hello Faust,
I cant find it,

please help me,

dan
  • #58,183
  • Jun 22, 2015 2:46pm Jun 22, 2015 2:46pm
New trader here. I read that 70 pages pdf over the weekend and set up the pro indicators on MT4.
But I am lost between 1hr and 4 hr charts. Is there any general rule when to follow 1 hr and when to follow 4 hr charts?
I read at big E's post that he recommended 4 hr TF. He also mentioned he used 1 hr at US open for few hours. Is that
still right route to follow?
Thanks
  • #58,184
  • Jun 22, 2015 3:14pm Jun 22, 2015 3:14pm
Hi Trader Mt4 , if i understood your request , this is the doc of Emmanule of Money mangment (MEntry, MExit).. i'm studing it now :-) .
This is his file/doc :
Attached File(s)
File Type: pdf Money management strategy ideas (1).pdf   371 KB | 1,315 downloads
  • #58,185
  • Jun 22, 2015 5:05pm Jun 22, 2015 5:05pm
Uhm , GBP/CAD i see a divergence ( PA/TDI) , i don't take other long-entries (my loewer tf is tf5 min) and, in the weekly chart , the price is on resistence area ...
I find other FXcross
Attached Image (click to enlarge)
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  • #58,186
  • Jun 22, 2015 6:09pm Jun 22, 2015 6:09pm
On the Euro pairs, they look messy on the D chart except for EUR/NZD on a strong bullish trend. Waiting for a re-entry on H1.

As for the GBP pairs, they look like its holding up a pause for next few days....
  • #58,187
  • Jun 22, 2015 6:36pm Jun 22, 2015 6:36pm
Quoting tibovwh
{quote} Hi emmanuel, What exactly gives this pair potential for breakout? Is this based on what you see in the chart or based on your beliefs about Euro / Greece? Best,

Hi,

Follow those posts I made in the past 2 weeks on EURAUD and you will see how I do my technical analsyis.
That has nothing to do with the Greece situation. I look at the currency strength of EURUSD, AUDUSD and look at the correlation in different time periods.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #58,188
  • Jun 22, 2015 9:22pm Jun 22, 2015 9:22pm
Hi TMS traders,

Here is the Synergy-Pro pack with all the indicators which are working and tested.
The previous pack had a few indicators which weren't working and were crashing on MT4 such as the Synergy MTF (multi time frame indicator) and the Synergy Arrows.
I have tested these indicators and they do work but when loading the indicators such as the Synergy Arrows and the Synergy MTF there is a loading delay when changing time frames etc. so be patient when loading them onto your charts.

I am currently using Big E's old method and a few of the new Synergy Pro indicators which includes:

  1. Stochastic 8, 3, 3
  2. TDI Red and Green (old version)
  3. Synergy Pro APB (average price bars)
  4. Synergy Pro PAC (price action channel)
  5. Synergy Pro MTF (multi time frame indicator)
  6. Synergy Pro ASR (average support and resistance lines)

The only reason I'm using the old TDI which Big E used is if you load the blue volatility bands on the older TDI you'll notice that it will show where the green RSI line "breaks" through the blue volatility bands and this is a great indication that the price will continue to rally in that direction. With the new Synergy Pro TDI it rarely "breaks" through the blue volatility bands.

Moving away from smaller time frames such as the 1M and the 5M I'm now trading the 1H hour charts during the day and the 4H charts when I go to bed and it's so much easier and secure than trading the lower time frames.

Let me know if there are any issues.

Attached Image (click to enlarge)
Click to Enlarge Name: MetaTrader - Pepperstone.jpg Size: 254 KB
Attached File(s)
File Type: zip Synergy-Pro Revised.zip   29 KB | 1,351 downloads
  • #58,189
  • Jun 22, 2015 9:33pm Jun 22, 2015 9:33pm
hi guys can i assume that the blue cricled bar is WRB and make it s/r? for today or no trade today on eurusd becuz of this movement?
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 38 KB

i have no idea to do with this situation (rarely ecounter it in my 3 month experience)
Take What You Can , Give Nothing Back
  • #58,190
  • Jun 22, 2015 9:40pm Jun 22, 2015 9:40pm
Quoting pwnstars
{quote} Hi Emmanuel.. If you have time, can you please elaborate on why you took these trades last week and how you managed it.. To me it is cluttered and confusing.. Thanks

Hi,

Those were trades in week 24 and 25 shown on D charts.

This week 26, I start using EURAUD on 4H swing to show how the entries and exits can be done in live market. When you follow these trades, you will see how I make the entries and exits progressively. This way of trading takes time as it in done in higher TF. It demands patience and also gives the trader time to think, to make decisions and to take action.

Some past posts with reading materials and also explanation.
Money Management Strategy for TMS: Post#48,008
Using Multiple-Lot Positions to Improve trading TMS: Post#33,507
Entry and Exits ... Post#19,617
How to Build a Position: Post#19,588
Reply to SJ : Post#52,347 using TMS 5-Method develop 3 systems...SMART objectives
Read Post#53,338 ........... reply to sknight

Many TMS traders find it difficult to make money trading single entry and single exit. Some members wants to trade higher TF but are afraid of the higher volatility, bigger stop loss, etc. and most get caught in sideways narrow range market type.
Using Multiple Entries / Multiple Exits to trade higher TF H4 and D1 is one tested and proven way to make money in longer term.

As full time traders, we must be able to trade in different timeframes - Intraday on H1 chart, short term swing trading on H4 chart and position trading on D1 charts
Money management strategy is just an integral part of the edge of a winning system over long term.


regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #58,191
  • Jun 22, 2015 9:46pm Jun 22, 2015 9:46pm
Quoting Donquixote
hi guys can i assume that the blue cricled bar is WRB and make it s/r? for today or no trade today on eurusd becuz of this movement? {image} i have no idea to do with this situation (rarely ecounter it in my 3 month experience)

Hi,

when you don't know what to do now, that's is simple.

you can walk away from your trading computer and come back tomorrow

or

you can start look at the Monthly , then the Weekly and then the Daily charts candles, this should help you decide whether you want to be buyer or seller later today.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #58,192
  • Jun 22, 2015 9:53pm Jun 22, 2015 9:53pm
Quoting dewdrops
New trader here. I read that 70 pages pdf over the weekend and set up the pro indicators on MT4. But I am lost between 1hr and 4 hr charts. Is there any general rule when to follow 1 hr and when to follow 4 hr charts? I read at big E's post that he recommended 4 hr TF. He also mentioned he used 1 hr at US open for few hours. Is that still right route to follow? Thanks

Hi,

price moves in waves, small waves in lower TF, larger waves in higher TF, much largest waves in much highest TF.
hence, there is a trend in every timeframe.
which trend or waves do you have time for to trade?


Attached Image
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #58,193
  • Jun 22, 2015 10:30pm Jun 22, 2015 10:30pm
To Sr.Members,

If we are aiming an average 100 pip profit by using CM, isn't it better to close the entire lot when you get to the first TP (around 30 pips) rather than closing half of the lots in the three TPs? I believe it will get you more or less same result by spending less time in front of the PC.

Hope it wasn't a stupid question
  • #58,194
  • Jun 22, 2015 10:40pm Jun 22, 2015 10:40pm
Quoting rabhni
To Sr.Members, If we are aiming an average 100 pip profit by using CM, isn't it better to close the entire lot when you get to the first TP (around 30 pips) rather than closing half of the lots in the three TPs? I believe it will get you more or less same result by spending less time in front of the PC. Hope it wasn't a stupid question

how about placing 10 x micro lots and close all when reach +10pips?
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #58,195
  • Jun 22, 2015 11:03pm Jun 22, 2015 11:03pm
Quoting emmanuel7788
{quote} how about placing 10 x micro lots and close all when reach +10pips?
That was a good explanation Thanx Emm. Spread is going to eat half of our profit though
  • #58,196
  • Jun 22, 2015 11:12pm Jun 22, 2015 11:12pm
Quoting rabhni
{quote} That was a good explanation Thanx Emm. Spread is going to eat half of our profit though
The good thing about spreading your trades is when your entry is not that accurate, you can always enter again with another trade of equal lot size.

Let's say you are selling EU at 3200, the price rises to 3250, sell again at 3250. Your average price will be higher than 3200 and thus reducing the risk. Then again, do this only when you are sure of the trend and not as a tool for your gambling game.

I believe a lot of people actually spread the trades to maximize their profts. close 5 trades, let another 5 to run free until reversal occurs.
  • #58,197
  • Jun 22, 2015 11:13pm Jun 22, 2015 11:13pm
Quoting Dimi.A
Hi TMS traders, Here is the Synergy-Pro pack with all the indicators which are working.....
Hi Dimi.A! I've downloaded the synergy pro revised zip file and installed in my mt4 indicator folder and restart it. But it was not starting and i've to reinstall the whole mt4 platform.
Winners Never Quit, Quitters Never Win
  • #58,198
  • Jun 22, 2015 11:39pm Jun 22, 2015 11:39pm
Quoting FxLapozi
{quote} The good thing about spreading your trades is when your entry is not that accurate, you can always enter again with another trade of equal lot size. Let's say you are selling EU at 3200, the price rises to 3250, sell again at 3250. Your average price will be higher than 3200 and thus reducing the risk. Then again, do this only when you are sure of the trend and not as a tool for your gambling game. I believe a lot of people actually spread the trades to maximize their profts. close 5 trades, let another 5 to run free until reversal occurs....
Thanks FxLapozi
  • #58,199
  • Jun 23, 2015 12:04am Jun 23, 2015 12:04am
my frist two yellow line buy trade this moring
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: AUDCADH1tu.png Size: 59 KB
  • #58,200
  • Edited 12:35am Jun 23, 2015 12:15am | Edited 12:35am
My yesterday trade hit my stop loss and i will be taking a break before i trade again.

Btw, how do i trade based on momentum, volatility and market strength? And where can i get the updated TDI indicator?
Does a big candle means a wide range bar?
When comes to support and resistance, i should look for buy at support and sell at resistance?
How do i look at the previous weekly candle to determine the trend? If the candle is green, it is uptrend and when the candle is red, it is downtrend?
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