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TMS for M30 charts

  • #5,481
  • Jul 9, 2015 12:37pm Jul 9, 2015 12:37pm
GJ trade @US session...
Attached Image (click to enlarge)
Click to Enlarge Name: 9.7.15 GJ M30 hid div short off 50fib (US).png Size: 69 KB
Appreciation is the key to wealth and happiness
  • #5,482
  • Jul 9, 2015 2:39pm Jul 9, 2015 2:39pm
Quoting mary4x
{quote} Thanks for the pics, Dave. It's a terrible time for the people with no/little money. Do you have a few favorite pairs that you like to trade after NY close? Also, do you trade during that time because of work, or for other reasons?
Hi Mary
Few helpful tips if you are new in forex.
Avoid crosses GC GJ EN GA GN and so on.Spread is big on crosses but more importantly you need screen time and experience to succeed trading crosses.
Lets say you want to short a cross on GA 7pip spread that's substantial deffest already and should PA go against you just getting out will cost you minimum 10pips.That's expensive mistake.Do this few more times and your account will shriek in a hurry.Avoid them please.
I prefer majors

I trade late at night Frankfurt to London mostly.It just fits my schedule better.
Generally after London close 12pm volume drops and best not trade.
Regards
In trading, you have to be defensive and aggressive at the same time
  • #5,483
  • Jul 9, 2015 2:54pm Jul 9, 2015 2:54pm
[quote=Davit;8373312]{quote} Avoid crosses GC GJ EN GA GN..../quote]

Okay. "Avoid crosses." I don't know what that means.

I followed your trade suggestions earlier this morning (Pac time) and did very well. Thanks.
  • #5,484
  • Jul 9, 2015 3:03pm Jul 9, 2015 3:03pm
[quote=mary4x;8373328]
Quoting Davit
{quote} Avoid crosses GC GJ EN GA GN..../quote] Okay. "Avoid crosses." I don't know what that means. I followed your trade suggestions earlier this morning (Pac time) and did very well. Thanks.
Basically Any pair that does not have USD in it is a cross.
Some crosses are more expensive then others
NZ Aussie crosses most expensive and Yen crosses little cheaper.
Let me illustrate something concrete
AU travels 84 pips daily average last 20days
GA 205 pips last 20 days and 235 last 5 days
So it travels faster lot faster and getting it right on entry is crucial or you will pay for it.Basically you want something manageble and cheaper to trade and that's majors
AU EU GU NU UJ UC
on my chart those are pretty much what I look.
In trading, you have to be defensive and aggressive at the same time
  • #5,485
  • Jul 9, 2015 5:45pm Jul 9, 2015 5:45pm
Thanks for the help. I'll pay more attention to these pairs. The U.S. pairs trade okay after close of U.S. session?
  • #5,486
  • Jul 9, 2015 8:22pm Jul 9, 2015 8:22pm
Quoting mary4x
Thanks for the help. I'll pay more attention to these pairs. The U.S. pairs trade okay after close of U.S. session?

For new traders, learn to trade the majors pairs first.

After London market close, the liquidity drops and still can trade M15 and M5 if you want.
Same trading methodology using this simple 5-Method. It is price action so it work in all timeframes. You need to know the volatility and the range.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #5,487
  • Jul 9, 2015 9:39pm Jul 9, 2015 9:39pm
Quoting Davit
Looks like I am trading solo here EJ is at interesting level {image}
Hope you guys cashed on EJ up thrust which I posted earlier
that's over 100pips in 6hrs
Attached Image (click to enlarge)
Click to Enlarge Name: EURJPYM30.png Size: 43 KB
In trading, you have to be defensive and aggressive at the same time
  • #5,488
  • Jul 9, 2015 9:42pm Jul 9, 2015 9:42pm
EJ now
Attached Image (click to enlarge)
Click to Enlarge Name: EURJPYM30.png Size: 44 KB
In trading, you have to be defensive and aggressive at the same time
  • #5,489
  • Jul 9, 2015 9:54pm Jul 9, 2015 9:54pm
Quoting Davit
{quote} Hope you guys cashed on EJ up thrust which I posted earlier that's over 100pips in 6hrs {image}
It came down -80pips from that S/R and made a double bottoms before heading north, JPY neg news contributed to that move too
Appreciation is the key to wealth and happiness
  • #5,490
  • Jul 9, 2015 9:57pm Jul 9, 2015 9:57pm
Yes EJ would have been a good buy..i got into GJ maybe a couple of candles late...about 20 or so pips in profit now..wont hold for too long as TDI is in overbought zone on the 30 min tf.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYM30.png Size: 38 KB
  • #5,491
  • Jul 9, 2015 10:06pm Jul 9, 2015 10:06pm
Quoting likica
{quote} It came down -80pips from that S/R and made a double bottoms before heading north, JPY neg news contributed to that move too

Currently long on GU in 4 positions
aiming 55
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDH4.png Size: 35 KB
In trading, you have to be defensive and aggressive at the same time
  • #5,492
  • Jul 9, 2015 10:08pm Jul 9, 2015 10:08pm
Quoting Davit
{quote} Currently long on GU in 4 positions
May be EU or AU would have batter.

Thanks
  • #5,493
  • Jul 9, 2015 10:11pm Jul 9, 2015 10:11pm
Hi Ppl

Just wanted to know how u guys set ur stop loss...is it a specific number of pips or S&R and do u guys keep moving it to protect ur profit??

Regards
  • #5,494
  • Jul 9, 2015 10:12pm Jul 9, 2015 10:12pm
Quoting mkfx
{quote} May be EU or AU would have batter. Thanks
Maybe but Euro situation with Greece is precarious and it could once again gap down in weekend should no resolution occur.This surly will effect GU as well but lesser extent.
I have too many trades to add AU but it was fantastic buy at 74 7380 which I cashed already
In trading, you have to be defensive and aggressive at the same time
  • #5,495
  • Jul 9, 2015 10:12pm Jul 9, 2015 10:12pm
Quoting mary4x
Thanks for the help. I'll pay more attention to these pairs. The U.S. pairs trade okay after close of U.S. session?
Hi Mary4x,
If you decide to trade using TDI indicator and price actions, any time frames and any pairs will works. In case you are new (from your profile you are not), concentrate to one pair and study the move of the session you are available to trade first.
Let say you are only available during UScah session (9.30am est -4pm est) and choose EU/GU because its spread is cheap, put M30, h1, h4 charts up (if you want to enter trade on M30), find your edge such as only trade off S/R and divergence with TDI crosses...
Do not enter a trade when TDI at overbought area (>68) or at oversold area (<32) even if TDI crosses until it moves out of those areas.
We can give you lots of advice when to enter/exit, but I found that many traders including myself only studying old chars and practise and practise can give us confidence.
Good luck.
Appreciation is the key to wealth and happiness
  • #5,496
  • Edited 10:31pm Jul 9, 2015 10:16pm | Edited 10:31pm
Quoting dennis4u15
Hi Ppl Just wanted to know how u guys set ur stop loss...is it a specific number of pips or S&R and do u guys keep moving it to protect ur profit?? Regards
I usually set it 10p-15p away from last swing low/high and move as trade in progress or exit early if things not going as per my plan.
Take a look at my mistake on EA trade where I should have put my SL 10p under last swing low, it stopped me out and went toward my PT.
My EN ended happily even it retraced
Set a proper SL will make a big different to our trading results if we are not avail to monitor our trades.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 9.7.15 EN DIV off SR +50.png Size: 41 KB
Click to Enlarge Name: 9.7.15 EA M30 DB loss as SL too tight, should ve put 10p under YL.png Size: 54 KB
Appreciation is the key to wealth and happiness
  • #5,497
  • Jul 9, 2015 10:18pm Jul 9, 2015 10:18pm
Quoting dennis4u15
Hi Ppl Just wanted to know how u guys set ur stop loss...is it a specific number of pips or S&R and do u guys keep moving it to protect ur profit?? Regards
Everyone is different.It took me 4 years to finally find the right balance of SL.My style is scaling in and that gives me wider stops.
Some are against this and I am fine with this sentiment since trading is and should adhere to your personality and tolerance.
Let me say flatly that 20pips stop is what brokers love since majority of times it will get hit.You must find the right balance based on trading style and willingness to allow more DD or not
In trading, you have to be defensive and aggressive at the same time
  • #5,498
  • Jul 9, 2015 10:25pm Jul 9, 2015 10:25pm
Let me show what I mean. Lets assume you went long at round number 74 and your stop was 7380.Price almost certain will knock you out before heading North.
Look at my green boxes.Notice the tails? Those are spikes.Some call them stop hunt but I disagree its little more then that.
It has lot to do how big orders get filled.
What I am trying to convey is this.Allow enough space for fluctuation of PA so you are not taken out and trade going your direction without you.That's painful to see.Look at any chart and you'll see spikes.One needs to adapt to this reality or continue paying up to your broker over and over.
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSDM30.png Size: 45 KB
In trading, you have to be defensive and aggressive at the same time
  • #5,499
  • Jul 9, 2015 10:36pm Jul 9, 2015 10:36pm
Quoting Davit
Let me show what I mean. Lets assume you went long at round number 74 and your stop was 7380.Price almost certain will knock you out before heading North. Look at my green boxes.Notice the tails? Those are spikes.Some call them stop hunt but I disagree its little more then that. It has lot to do how big orders get filled. What I am trying to convey is this.Allow enough space for fluctuation of PA so you are not taken out and trade going your direction without you.That's painful to see.Look at any chart and you'll see spikes.One needs to adapt to...
nice trading Davit. AU s sitting at double tops right now. Are you intend to add more in if it retrace? I m GA long btw
Appreciation is the key to wealth and happiness
  • #5,500
  • Jul 9, 2015 10:41pm Jul 9, 2015 10:41pm
Quoting likica
{quote} nice trading Davit. AU s sitting at double tops right now. Are you intend to add more in if it retrace?
Hi bro
No I have too many trades 6 UC shorts and 4 GU longs
Need to close at least half of these trades in profit to release margin space.UC may take a little longer but GU may get to 55 in a week.
Regards
In trading, you have to be defensive and aggressive at the same time
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