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Trading Made Simple

  • #58,481
  • Jul 1, 2015 2:26am Jul 1, 2015 2:26am
Quoting birdnest
I would like to understand a bit more about big picture planning. For instance GBPNZD, in its monthly chart - we saw the strong trend in bullish in June but in the weekly chart - it is in extremely overbought areas with TDI hooking down. In the day chart, there is a divergence. Is it right to analyse that the GN will continue to have strong momentum to trade up to 2.41 region - the next nearest resistance area? {image}

On Monthly, Weekly and Daily chart TFs, I ignore the TDI overbought and oversold levels. Price action will tell you the volatility and range for trading. Just look out for big candles and small candles.

Have you done your Big Picture Planning? Are there any Historical Price swing levels in the regions where the market is trading now?

Is the June MN candle a WRB? what is its range? Do you know a 50% retracement is good for 500 pips?

What about the Weekly chart, what do you see in the PA?

Look at GBPUSD and NZDUSD correlation strength with GBPNZD.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #58,482
  • Jul 1, 2015 2:46am Jul 1, 2015 2:46am
Quoting hsn100
{quote} Hi emmanuel7788! I've some questions regarding ME/ME trading. Just wanted to have your opinion on this: If I buy a certain pair on H1 TF and then switch to lower TF like M15 and when i see a tdi cross showing buy signal, i enter other position and exit when tdi crosses again or when APB color changes. Likewise, as the trade on H1 TF is on, whenever i got a buy signal on M15 i keep on adding the other positions. Regards,
You cannot trade H1 the way you described/ Theoretically it sounds logical using the TDI and APB. But in real market this is just another way to blow a trading account.

ME/ME is a money management strategy which is more suitable for trading the Day and Weekly charts. The conventional trading with one Entry, one SL and one TP is very difficult many traders and will not grow an account in short time.

We cannot simply add positions when the lower TF TDI cross say in M15 becasue the TDI can cross and uncross many times in M15 when market is very narrow range. We will end up with too many open positions at very short time intervals. It will over expose you account and very difficult to control and manage. When we are using the position building method, we must distribute our positions spread over time and at distances (grids) using the market volatility. It is averaging down to get an overall average entry price. I must emphasize that we do not use martingale strategy which is for gambling not trading.

We need to fully understand the concepts and the pros and cons of scaling-in and scaling-out, and also average down and average up. Use this concepts in a creative way in your trading system development.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #58,483
  • Jul 1, 2015 2:48am Jul 1, 2015 2:48am
  •  Hpt
  • Joined Jun 2015 | Status: everybody trade at one`s own risk | 648 Posts
Hallo,
I found this thread with traders looking for higher TF and big picture. TF = D1
I'm trading this along time .So hier is my view EURAUD. You can see the NFP and the relationship to historical levels

have a nice day
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from level to level - you need mental strength to reach the summit
  • #58,484
  • Jul 1, 2015 3:55am Jul 1, 2015 3:55am
Quoting emmanuel7788
{quote} You cannot trade H1 ................creative way in your trading system development.
Thanx a lot emmanuel7788 for such a comprehensive explanation, i was thinking in wrong way and I'm on live acc. so that could b detrimental, thnx for sharing such a valuable piece of information. One question:

  1. Few posts back you drawn distances (grid) on your chart on ATR basis, when u explained ME/ME strategy. How u hav drawn those grids on your chart. I've tried to google it but in vain. Pardon me, if I'm asking too much.

Regards,

Winners Never Quit, Quitters Never Win
  • #58,485
  • Jul 1, 2015 3:56am Jul 1, 2015 3:56am
Quoting emmanuel7788
{quote} On Monthly, Weekly and Daily chart TFs, I ignore the TDI overbought and oversold levels. Price action will tell you the volatility and range for trading. Just look out for big candles and small candles. Have you done your Big Picture Planning? Are there any Historical Price swing levels in the regions where the market is trading now? Is the June MN candle a WRB? what is its range? Do you know a 50% retracement is good for 500 pips? What about the Weekly chart, what do you see in the PA? Look at GBPUSD and NZDUSD correlation strength with...
On Monthly, Weekly and Daily chart TFs, I ignore the TDI overbought and oversold levels. Price action will tell you the volatility and range for trading. Just look out for big candles and small candles.

Have you done your Big Picture Planning? Are there any Historical Price swing levels in the regions where the market is trading now?
As I zoom out the weekly chart candle, I noticed a historical resistance at 2.314 region. Market is trading in this region and the weekly is going for a hookdown

Is the June MN candle a WRB? what is its range? Do you know a 50% retracement is good for 500 pips?
About 1,690 pips range. Retracements for GN is scary big.

What about the Weekly chart, what do you see in the PA?
Last week was in range. Yesterday had some upward movement but the hook down seems like it is heading for a correction.

Look at GBPUSD and NZDUSD correlation strength with GBPNZD.
GU and NU is on a bearish trend... This I may need to read a bit to understand
  • #58,486
  • Jul 1, 2015 4:38am Jul 1, 2015 4:38am
  •  Hpt
  • Joined Jun 2015 | Status: everybody trade at one`s own risk | 648 Posts
EURJPY H4
wait and see
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from level to level - you need mental strength to reach the summit
  • #58,487
  • Jul 1, 2015 5:01am Jul 1, 2015 5:01am
Hi all ,
Nzd/Usd could be in area for new entries short (i think , im newer so i am not sure that this entries are good , )
H1 TF is noe my ''insidere TF'' :
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  • #58,488
  • Jul 1, 2015 5:29am Jul 1, 2015 5:29am
  •  Hpt
  • Joined Jun 2015 | Status: everybody trade at one`s own risk | 648 Posts
EURJPY
closed 10 green pips was too risky, against trend
from level to level - you need mental strength to reach the summit
  • #58,489
  • Jul 1, 2015 6:55am Jul 1, 2015 6:55am
Quoting birdnest
{quote} On Monthly, Weekly and Daily chart TFs, I ignore the TDI overbought and oversold levels. Price action will tell you the volatility and range for trading. Just look out for big candles and small candles. Have you done your Big Picture Planning? Are there any Historical Price swing levels in the regions where the market is trading now? As I zoom out the weekly chart candle, I noticed a historical resistance at 2.314 region. Market is trading in this region and the weekly is going for a hookdown Is the June MN candle a WRB? what is its range?...

Hi,

One place to get some general information of currency pair correlation is here:

https://www.mataf.net/en/tools/01-01-correlation

just select pairs you want to compare and see the analysis.

for example GBPUSD, NZDUSD and GBPNZD. Trading the higher TF, I would normally compare the Daily and Weekly correlation data.

then look at the individual currency pair charts and look at their movements.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #58,490
  • Jul 1, 2015 9:12am Jul 1, 2015 9:12am
EURUSD-H1
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Sad i'm not trying to understand PA
  • #58,491
  • Jul 1, 2015 9:13am Jul 1, 2015 9:13am
Quoting omonisha
EURUSD-H1 {image}
Positive anything is better than negative thinking.- Elbert Hubbard
  • #58,492
  • Jul 1, 2015 9:14am Jul 1, 2015 9:14am
Quoting redcloudxlll
{quote}
Thanks red. You are having a blast with NU superb trading
Sad i'm not trying to understand PA
  • #58,493
  • Jul 1, 2015 9:17am Jul 1, 2015 9:17am
Quoting omonisha
{quote} Thanks red. You are having a blast with NU superb trading
Thanks. Yea I slipped a month ago and lost some took a break now I'm regaining my glory again. EU Short.
Attached Image (click to enlarge)
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Positive anything is better than negative thinking.- Elbert Hubbard
  • #58,494
  • Jul 1, 2015 9:35am Jul 1, 2015 9:35am
Quoting omonisha
EURUSD-H1 {image}
Nice trades OS.

Quote
Thanks. Yea I slipped a month ago and lost some took a break now I'm regaining my glory again. EU Short.
Congrats redcloudxIII
Winners Never Quit, Quitters Never Win
  • #58,495
  • Jul 1, 2015 9:44am Jul 1, 2015 9:44am
Quoting redcloudxlll
{quote} Thanks. Yea I slipped a month ago and lost some took a break now I'm regaining my glory again. EU Short. {image}
WOW that is amazing red. Collect them all you missed during your break
Sad i'm not trying to understand PA
  • #58,496
  • Jul 1, 2015 10:18am Jul 1, 2015 10:18am
Quoting omonisha
EURUSD-H1 {image}
Nice Trade OS. That chart and entry should be in a text book
Never argue with a fool; onlookers may not be able to tell the difference.
  • #58,497
  • Jul 1, 2015 10:30am Jul 1, 2015 10:30am
Quoting omonisha
EURUSD-H1 {image}

Excellent setup. really a wonderful example how to trade a TDI bounce, congrats.
Guido
Risiko birgt immer auch die Chance.
  • #58,498
  • Jul 1, 2015 2:29pm Jul 1, 2015 2:29pm
GU for +50 pips, I would tho post the demo trade since it has better learning side to it

At the time I took the trade, my broker server didn't respond much , might be a lousy one, testing another broker here, so it didn't fully printed the whole candle
Attached Image (click to enlarge)
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I Have Learned to Take Some Losses to Make Profits
  • #58,499
  • Jul 1, 2015 3:50pm Jul 1, 2015 3:50pm
Quoting TheScorpS
GU for +50 pips, I would tho post the demo trade since it has better learning side to it At the time I took the trade, my broker server didn't respond much , might be a lousy one, testing another broker here, so it didn't fully printed the whole candle {image}
Nice trade TSS. It wasn't very easy out there today.
Never argue with a fool; onlookers may not be able to tell the difference.
  • #58,500
  • Jul 1, 2015 3:58pm Jul 1, 2015 3:58pm
Quoting LvCa
Hi all , Nzd/Usd could be in area for new entries short (i think , im newer so i am not sure that this entries are good , ) H1 TF is noe my ''insidere TF'' : {image}
Looks like it is going OK. Tomorrow (Thursday) might be a challenge as H4, D1 and WK are deep into the below 32 zone. Don't let this put you off, just manage what you have got. I think there is at least another days run on this trade but beware of the US data coming out. I've got a D1 trade running since 8th May so I have a vested interest
Hang tough and manage well.
Never argue with a fool; onlookers may not be able to tell the difference.
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