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Trading Made Simple

  • #59,041
  • Jul 22, 2015 2:14am Jul 22, 2015 2:14am
Thank you, Guido, for my chart analise.

You know, I still can not fix one thing in my mind. Topicstarter said about looking for a cross at the appearance of a candle. But this candle can change its direction from bullish to bearish in the process of its printing (during current H4). Also the cross can disapear during it.

So in my example
Attached Image (click to enlarge)
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1st bullish candle gives no cross at the beginnig and at the end of its forming
2nd bullish candle gives cross at the end of its forming
and only after it, at the appearance of the 3rd bullish candle, I can enter the trade

Is this vision right?
Just an opinion. Based on research
  • #59,042
  • Jul 22, 2015 2:19am Jul 22, 2015 2:19am
Quoting since80808
Thank you, Guido, for my chart analise. You know, I still can not fix one thing in my mind. Topicstarter said about looking for a cross at the appearance of a candle. But this candle can change its direction from bullish to bearish in the process of its printing (during current H4). Also the cross can disapear during it. So in my example {image} 1st bullish candle gives no cross at the beginnig and at the end of its forming 2nd bullish candle gives cross at the end of its forming and only after it, at the appearance of the 3rd bullish candle, I...
Yes, the cross can repaint and " uncross" and the HA candles as well ..
But the original information was " Candle open " .. I use it that way in h4 and D1 next to Choros system ( Choros/ Dance only M5 to H1 ).
And I can say it makes green pips how I do , no doubt .

A really good advice is " use the simulator" .. it makes with you in weeks what normally needs months !
Load up any free tradingsimulator in forexfactory.. i postred one in this thread last september .
Not sure if it stilll works.. try it :http://www.forexfactory.com/showthre...86#post7743986
Daily 20-30minutes .. done !
Guido
Risiko birgt immer auch die Chance.
  • #59,043
  • Jul 22, 2015 2:54am Jul 22, 2015 2:54am
Quoting birdnest
{quote} Dear Emman, For trade no. 2, is it usually that the SL is so huge for Day trades? It seems hard to "accept" that there are so many retracements within the day.... and what if we get stopped out?
Hi,

Trading higher TF requires us to look at the volatility of the currency pairs in the higher TF.
When we trade the D1 chart TF, we look at the Average Daily Range ADR of the pair.
GBPJPY has and ADR between 165 and 195. You cannot trade this pair on D1 chart with 50 pips SL and expect to ride through the intraday market noise.

It does not matter if the SL is 50pips or 150pips, your risk is the same 1%.
If you get stopped out you lose 1%.

Read up on what Position Sizing can do for you.
http://www.babypips.com/school/under...ion-sizes.html

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #59,044
  • Jul 22, 2015 2:55am Jul 22, 2015 2:55am
Quoting dewdrops
{quote} Hey Lukass, That's great success. When you say you read a lot, do you mean books or this huge thread posts? What TF do you primarily trade on? Congrats
Hi Dewdrops

Thank you for your support. Slowly but surely...I read quite fast so for me it is no problem to read few hundreds of pages in one free day I like to make a quick summary of every chapter in any book you read and after whole book, go through your notes again in few days - this will help to memorize more things.

Also, as for example Emmanuel suggests - make notes into your chart, save those charts with trades, go through them from time to time and you will see more things. As you will progress you will see more things.

I primarily trade H1, yet I am thinking more and more about H4. I have a job so for me it is better to trade H4. I am lucky that I am working in small company and I am mostly for international (GB and USA mostly) relations, so in USA they start at 2PM my local time (and I start at 8AM, so at that time I have already 6 hours in work). For H1 I prefer only morning trades from 8-12AM my local time.

And here on ForexFactory I read mostly TMS. But I also read other topics as well - to see other's approach, other charts, ideas, etc.

I had those times when I figured out a plan - it worked for few days/weeks and then few losses and I moved to another one....Overall I was just jumping from one to another with no reason...Now I would like to trade TMS for few months, according to the rules, now I understand that you cannot be always profitable. I hope I will make it!

Good luck in trading and in your life :-) Take care,


Lukas
MACD SCS All Time Pips: 8,722
  • #59,045
  • Jul 22, 2015 2:57am Jul 22, 2015 2:57am
EURxxx and GBPxxx pairs waking up slowly.... mid-week.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #59,046
  • Jul 22, 2015 3:36am Jul 22, 2015 3:36am
  •  313
  • | Joined Jun 2015 | Status: Strive and Overcome! | 46 Posts
Hi guys my first post in here, it's been already 3 month to learn fx, this is the first time i used Big E strategy, and i like it. any comment or advised welcome
EUR/USD 30M
loss -171 pips
Attached Image (click to enlarge)
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  • #59,047
  • Jul 22, 2015 4:04am Jul 22, 2015 4:04am
Quoting 313
Hi guys my first post in here, it's been already 3 month to learn fx, this is the first time i used Big E strategy, and i like it. any comment or advised welcome EUR/USD 30M loss -171 pips {image}
I think thiss loss is because your signal is not confirmed by the higher TF - it was uptrend at H4
Just an opinion. Based on research
  • #59,048
  • Jul 22, 2015 4:09am Jul 22, 2015 4:09am
  •  313
  • | Joined Jun 2015 | Status: Strive and Overcome! | 46 Posts
Quoting since80808
{quote} I think thiss loss is because...
ooh i get it.. thx since
  • #59,049
  • Jul 22, 2015 4:09am Jul 22, 2015 4:09am
Quoting emmanuel7788
{quote} GBPJPY: You can do one of the two below: 1) Wake up tomorrow when Sydney open, and if there is a Day Inside Bar breakout by today candle, you buy. 2) Buy now, SL 192.00 TP 195.00. make you do your position size with 0.2% risk of your demo account $50k. If you do 2) now, I will explain how to build position tomorrow.

No one buy GBPJPY yet?
you still have opportunity when this current H4 close.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #59,050
  • Jul 22, 2015 4:14am Jul 22, 2015 4:14am
Quoting emmanuel7788
{quote} No one buy GBPJPY yet? you still have opportunity when this current H4 close.
Why to buy?
D1 in downtrend (or a pullback) by HA and TDI
Just an opinion. Based on research
  • #59,051
  • Jul 22, 2015 4:15am Jul 22, 2015 4:15am
Quoting 313
Hi guys my first post in here, it's been already 3 month to learn fx, this is the first time i used Big E strategy, and i like it. any comment or advised welcome EUR/USD 30M loss -171 pips {image}

selling is good but yesterday was bullish and market now pause until there are more sellers to join in.
better to wait till we see sellers and look for that sell setup either in H1 or M15.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #59,052
  • Jul 22, 2015 4:18am Jul 22, 2015 4:18am
Quoting since80808
{quote} Why to buy? D1 in downtrend (or a pullback) by HA and TDI

http://www.forexfactory.com/showthre...19#post8393119

In an uptrend, we buy the dips.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #59,053
  • Jul 22, 2015 4:25am Jul 22, 2015 4:25am
Quoting 313
Hi guys my first post in here, it's been already 3 month to learn fx, this is the first time i used Big E strategy, and i like it. any comment or advised welcome EUR/USD 30M loss -171 pips {image}
I'm watching this impulse too. PA is bouncing between 100 and 23 fib...it could go anywhere from there. This is a bad area to get in as it's a coin flip at best. TDI at 50 shows also indecision.

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Best regards, Zef
  • #59,054
  • Jul 22, 2015 4:25am Jul 22, 2015 4:25am
Quoting emmanuel7788
{quote} http://www.forexfactory.com/showthre...19#post8393119 In an uptrend, we buy the dips.
Thanks! I've missed this dialog.
Do you use TDI (TMS) at all? It looks like you do usual trend lines analyse at several TFs
Just an opinion. Based on research
  • #59,055
  • Jul 22, 2015 4:31am Jul 22, 2015 4:31am
Big thanks to the boss for this system. Been following this thread for a while. Tried on my live last night, currently riding UJ with 700 pips and EU with 900 pips.

Apologize in advance if my question is not legit. My question for knowledge gathering purposes - For GBPNZD (pictures attached), would a Buy signal from H4 still valid if Day TF shows a sell trend ? I had hesitation this morning when I looked at it. Back testing shows that it's valid. But as this type of trade going against the trend, and being a super newly fresh trader, I rather not take the risk.
Attached Image(s) (click to enlarge)
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  • #59,056
  • Jul 22, 2015 4:38am Jul 22, 2015 4:38am
Quoting since80808
{quote} Thanks! I've missed this dialog. Do you use TDI (TMS) at all? It looks like you do usual trend lines analyse at several TFs

#1 importance is PA
#2 is the TDI
http://www.forexfactory.com/showthre...21#post4353021

I do my Big Picture Plan (top down analysis) starting with Monthly, Weekly then Daily. This is to determine the Market Type. Only when I know the Market Type, then I make my trading decision.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #59,057
  • Jul 22, 2015 4:49am Jul 22, 2015 4:49am
Quoting jack.hiro
Big thanks to the boss for this system. Been following this thread for a while. Tried on my live last night, currently riding UJ with 700 pips and EU with 900 pips. Apologize in advance if my question is not legit. My question for knowledge gathering purposes - For GBPNZD (pictures attached), would a Buy signal from H4 still valid if Day TF shows a sell trend ? I had hesitation this morning when I looked at it. Back testing shows that it's valid. But as this type of trade going against the trend, and being a super newly fresh trader, I rather not...
when trading H4, which is your Primary Trend?

Attached Image
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #59,058
  • Jul 22, 2015 4:58am Jul 22, 2015 4:58am
Quoting emmanuel7788
{quote} when trading H4, which is your Primary Trend? {image}
Hi thank you for taking your time to reply me. I look at Day for primary.
  • #59,059
  • Jul 22, 2015 5:45am Jul 22, 2015 5:45am
Dear Emmanuel,
I take this opportunity to follow your vision!
I've bought yesterday at 193.31 (+19 now)
I've also bought in a pull back at 192.67 (+81 now)
Should I move the second SL to BE SO FAR?

I had some doubt when the yesterday candle broke the 20 July IB and its MC. I believe that it wasn't enough to considered a reversal of the uptrend, was it?

Thank you very much for all.


Quoting emmanuel7788
{quote} No one buy GBPJPY yet? you still have opportunity when this current H4 close.
  • #59,060
  • Jul 22, 2015 7:07am Jul 22, 2015 7:07am
Quoting Arso
Dear Emmanuel, I take this opportunity to follow your vision! I've bought yesterday at 193.31 (+19 now) I've also bought in a pull back at 192.67 (+81 now) Should I move the second SL to BE SO FAR? I had some doubt when the yesterday candle broke the 20 July IB and its MC. I believe that it wasn't enough to considered a reversal of the uptrend, was it? Thank you very much for all. {quote}

Hi,

I see the next level for target is 198.00 but between now till 198.00 will be very choppy way up. First need to overcome June close and high. After that it will depends on market events/news, etc.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
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