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Trading Made Simple

  • #60,261
  • Sep 3, 2015 7:40am Sep 3, 2015 7:40am
Quoting OuterWest
Heres an interesting PDF to read and digest by Sam Eder, The-Definitive-Guide-to-Building-a-Winning-Forex-Trading-System can also be obtained directly from here: https://www.axitrader.com/au/educati...mocode=fxrenew {image}

Thanks for the link. I will read and study as soon as possible !

Best,
  • #60,262
  • Sep 3, 2015 8:54am Sep 3, 2015 8:54am
USDJPY H1 +50
Price had been trying to break 120.270 all morning, which was a S/R zone. Waited for break below Asian low with a TDI bounce and the MBL curling down. Also expected some help from US data as Unemployment was bound to be up during August holiday season.
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Never argue with a fool; onlookers may not be able to tell the difference.
  • #60,263
  • Sep 3, 2015 9:02am Sep 3, 2015 9:02am
Quoting Lookleft
USDJPY H1 +50 Price had been trying to break 120.270 all morning, which was a S/R zone. Waited for break below Asian low with a TDI bounce and the MBL curling down. Also expected some help from US data as Unemployment was bound to be up during August holiday season. {image}
Nice trading and green pipin , my version on EJ H1 after news , following my back-testing collected data, even late entry but still there might be room for a trade, so took it based on that, +50 pips
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I Have Learned to Take Some Losses to Make Profits
  • #60,264
  • Sep 3, 2015 9:04am Sep 3, 2015 9:04am
just entered long on gold

https://charts.mql5.com/8/738/goldmi...g-point-of.png

valid?
  • #60,265
  • Sep 3, 2015 9:09am Sep 3, 2015 9:09am
Quoting TheScorpS
{quote} Nice trading and green pipin , my version on EJ H1 after news , following my back-testing collected data, even late entry but still there might be room for a trade, so took it based on that, +50 pips {image}
Nice trade I did the same after news on EURAUD H1 for 50 pips for the same reasons.
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Never argue with a fool; onlookers may not be able to tell the difference.
  • #60,266
  • Sep 3, 2015 9:14am Sep 3, 2015 9:14am
Quoting shay14
just entered long on gold https://charts.mql5.com/8/738/goldmi...g-point-of.png valid?
This is a counter trade, but it looks good to me. A bit too big R/R for me...
Best regards, Zef
  • #60,267
  • Sep 3, 2015 10:00am Sep 3, 2015 10:00am
a bit off topic:
on a smaller screen i like to reduce the border padding size of the chart sub windows in mt4
heres how to do it in win7 & 8
http://www.floatingcharts.com/support/kb/faq.php?id=21
  • #60,268
  • Sep 3, 2015 10:24am Sep 3, 2015 10:24am
Quoting tibovwh
Hi all, The TMS System has been one with ups and downs for me aswell. But most importantly, I'm giving myself enough time to learn the system. Many of the great TMS traders have lots more experience with forex in general i think and also a huge amount of screentime with tms and with other systems. As long as I don't jump from one system to another every week and I continue to study TMS then I'm progressing. On the other hand, within the TMS system I have been moving from TF to TF depending on the amount of time I had during the day. In the coming...
Hi tibovwh,
Excellent post and some points that all new traders should take note of but you seem to be addressing.
The harsh facts are.
1. "I'm giving myself enough time to learn the system" - 90% of new traders don't do this. They blindly follow what is written here without understanding
2. " I always have a tendency to overtrade" - 90% of new traders do this. They just repeat the same mistakes.
And unfortunately 1 + 2 = 90% of new traders fail and blame the method.
As for a trading plan, only you can write that as it is very dependent on your personal mindset and comfort zone.
Looks to me that you have got back onto the right path and there are plenty of people here that can help guide you along the way but remember that trading is an individual activity that you have to learn for yourself. If you haven't done already, reading Ballistical's posts and taking onboard his discipline and methods is a great place to start.
I wish you all the best on your journey
cheers
Never argue with a fool; onlookers may not be able to tell the difference.
  • #60,269
  • Sep 3, 2015 11:24am Sep 3, 2015 11:24am
Quoting Lookleft
{quote} Hi tibovwh, Excellent post and some points that all new traders should take note of but you seem to be addressing. The harsh facts are. 1. "I'm giving myself enough time to learn the system" - 90% of new traders don't do this. They blindly follow what is written here without understanding 2. " I always have a tendency to overtrade" - 90% of new traders do this. They just repeat the same mistakes. And unfortunately 1 + 2 = 90% of new traders fail and blame the method. As for a trading plan, only you can write that as it is very dependent...

Overtrading is a symptom of either not having rules for entry, or ignoring them. Either way, it has no logical explanation.
Best regards, Zef
  • #60,270
  • Sep 3, 2015 1:55pm Sep 3, 2015 1:55pm
https://www.tradingview.com/x/hhrueo7Z/


Hi, everybody.

Is it ok for entry today and also for tomorrow, daily tf ? (bounce)
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  • #60,271
  • Sep 3, 2015 4:52pm Sep 3, 2015 4:52pm
Hello everyone.

1) If i want use H1 must i check H4 before enter?

2) If i want use H4 must i check Daily before enter?

3) If i want use Daily must i check Weekly before enter?

4) As resistence/support can i use Pivot Points only?

Many thanks for all these answers :-)
  • #60,272
  • Sep 3, 2015 6:15pm Sep 3, 2015 6:15pm
Quoting Lupo.Nero
Hello everyone. 1) If i want use H1 must i check H4 before enter? 2) If i want use H4 must i check Daily before enter? 3) If i want use Daily must i check Weekly before enter? 4) As resistence/support can i use Pivot Points only? Many thanks for all these answers :-)
HiLupo！
In my opinion

1)Yes I chack 4h TDI, dead cross? or golden cross? hook up?
I trade same direction 4H and 1H.

2)Up to you.
But I don't look. I look TDI cross, over/below yellow line, break PAC or 5EMA and PAB color.

3)Sorry, I cant answer, I didn't trade daily because, too long trade.

4)No.
I think PIVOT is good R/S but there are many point to be R/S such as BRN(Big round number) or Yesterday's High or low.
You should check them too.

All in my opinion.Thanks

Regards
  • #60,273
  • Sep 3, 2015 6:16pm Sep 3, 2015 6:16pm
Quoting Lookleft
{quote} Nice trade I did the same after news on EURAUD H1 for 50 pips for the same reasons. {image}
Good trade Look Left.

But can you show me h4 chart at that time?

Thanks
  • #60,274
  • Sep 3, 2015 7:00pm Sep 3, 2015 7:00pm
Quoting Lupo.Nero
Hello everyone. 1) If i want use H1 must i check H4 before enter? 2) If i want use H4 must i check Daily before enter? 3) If i want use Daily must i check Weekly before enter? 4) As resistence/support can i use Pivot Points only? Many thanks for all these answers :-)
1) No
2) No
3) No
4) No

Not so simple.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #60,275
  • Sep 3, 2015 7:13pm Sep 3, 2015 7:13pm
Quoting efestus
{quote} Thank you very much Mr Emma, i took a buy, but it was very short, the news just now spike it to a large sell.
to take any trade with TDI cross on H1 during the hour before the next market session opens is very risky.
you do not know if there are buyers or sellers because many traders exit the market before the next session open or close.
same when London closing.
...TIMING.. of the market 1/10 things.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #60,276
  • Sep 3, 2015 7:21pm Sep 3, 2015 7:21pm
Hmm...

I entered 10 min ago (9:10 GMT+9)

I must avoid Tokyo time.
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  • #60,277
  • Sep 3, 2015 7:24pm Sep 3, 2015 7:24pm
Quoting huseyindogu
https://www.tradingview.com/x/hhrueo7Z/ Hi, everybody. Is it ok for entry today and also for tomorrow, daily tf ? (bounce) {image}

market is sideways wide range and some one big sold at 1.1700.

selling is the better option, but sell only the rallies.

otherwise, stand aside till Monday next week.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #60,278
  • Sep 3, 2015 7:31pm Sep 3, 2015 7:31pm
Quoting yuki0912
Hmm... I entered 10 min ago (9:10 GMT+9) I must avoid Tokyo time. {image} {image}

if today's NFP drive price down, I will be buying more....follow the weekly and Monthly direction.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #60,279
  • Sep 3, 2015 8:19pm Sep 3, 2015 8:19pm
What is sideways market?

here is an example for those trading D1 chart.

Attached Image (click to enlarge)
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Will EU fall further to the Low of that MN WRB?
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #60,280
  • Sep 3, 2015 8:43pm Sep 3, 2015 8:43pm
Quoting emmanuel7788
{quote} if today's NFP drive price down, I will be buying more....follow the weekly and Monthly direction.
NFP?
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