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Trading Made Simple the right way, and other trading lessons 334 replies

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Trading Made Simple

Quoting emmanuel7788
{quote} There is no H1 triple top... what you see is 3 bars having same high. and you missed the divergence. {image} {image}

Divergence is useless because of the daily trend yesterday?

Was confused, Thank you for clarifying what a triple top truly is!
why do we fall? So we can learn to pick ourselves up.
A nice shot with UJ with 1:4 R:R
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Quoting emmanuel7788
{quote} There is no H1 triple top... what you see is 3 bars having same high. and you missed the divergence. {image} {image}
A stupid question after over 60000 posts. What is the TDI indicator you are using?
Thanks in advanced
Quoting emmanuel7788
{quote} Hi Bordy, We first be careful with this pair because the Average Weekly Range is between 350 pips and 410 pips. The recent 2 weeks was above 700 pips and there was Black Monday. How to manage depends on :- - your initial open position price level, - the number of ME positions planned (usually max 4 pos) and the distance (in pips) used. - the position size of each ME position. How many positions have you opened? Depending on the price action, I would normally close oldest positions when I find the opportunity to. Remember one rule is to "cut...
I have 4 opened positions (max allowed), opened at 4 fixed pips intervals. Planned to finish the building process at the 61.8% ret (because is a trend following case). The total risk is 2% managed with position size and emergency SL above last week High.

The entry method could be different, the point on what i struggle is to find a good rule based strategy to exit the losing pos and so "cut losses short".

Could u give us some more clues on this last point about the reasons on how you close the oldest pos?

Thank you.
Quoting rabhni
Hi Lookleft When you say H1 price was in Conflict with H4, you only look at color of the previous H4 candle? When there is an uptrend for the whole week and if u get an opportunity to short you wouldn't do it? {quote}
Hi rabhni,
What I was pointing out was the the H1 TDI cross and H4 TDI cross were in different directions and the ABP were opposite colors. I wouldn't take this trade because who is in charge, buyers or sellers?
I look at it as there being 3 trends long term, mid term and short term. As I am trading the short term trend I would prefer to trade in the same direction as the mid term trend but am quite happy to trade against the long term trend.
Regarding the TDI lines. I didn't say that I don't trade if the MBL isn't going in the same direction as the red and green but much prefer it. What 3 things do the red, green and yellow lines show you? I would much prefer to trade with them all on my side. As we don't make the market we have to follow it and the more things that show us the direction to go the less risk we take.
Remember these are my trading rules that work for me. Each trader needs to formulate the rules within the TMS method that work for them in a profitable and consistent manner.
Hope this answers your questions.
Cheers
Never argue with a fool; onlookers may not be able to tell the difference.
Quoting antoniomago
{quote} A stupid question after over 60000 posts. What is the TDI indicator you are using? Thanks in advanced

Hi,

I use the TDI realtime version and set that to be the same as the Synergy_Pro_TDI.

See post#59,624 for the details.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
Quoting emmanuel7788
{quote} Hi, I use the TDI realtime version and set that to be the same as the Synergy_Pro_TDI. See post#59,624 for the details. regards,
Thanks
Lookleft, Thank you very much for your detailed explanation.

Quoting Lookleft
{quote} Hi rabhni, What I was pointing out was the the H1 TDI cross and H4 TDI cross were in different directions and the ABP were opposite colors. I wouldn't take this trade because who is in charge, buyers or sellers? I look at it as there being 3 trends long term, mid term and short term. As I am trading the short term trend I would prefer to trade in the same direction as the mid term trend but am quite happy to trade against the long term trend. Regarding the TDI lines. I didn't say that I don't trade if the MBL isn't going in the same direction...
Quoting omonisha
GBPAUD-H4..News in 10 min {image}
Hello. Can you share the indicator that shows W, D Hi-Lo?
Thanks in advanced
Quoting WayneTech
{quote} Divergence is useless because of the daily trend yesterday? Was confused, Thank you for clarifying what a triple top truly is!

Hi,

If you look at yesterday day chart, there was a 5-bars Swing Low which indicate a bullish reversal.
On H1 was a 'big candle' or what I call as Wide Range Bar. We do not trade any TDI cross setups when the price action is within the high-low of any WRB.
When any WRB appears and that is early warning that we should avoid trading TDI setups in that chart TF the WRB appears. Both M15 and M5 were good trade opportunities.

Attached Image (click to enlarge)
Click to Enlarge Name: EURJPY H1 WRB week 37 9 Sep.png Size: 78 KB


that H1 divergence seem during the consolidation (WRB) and against the D1 chart make that H1 divergence useless.
trader should pick divergence setup correctly and know when to trade and when not to trade.


regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
Quoting antoniomago
{quote} Hello. Can you share the indicator that shows W, D Hi-Lo? Thanks in advanced
Hi antoni you can find the indicator here

Post 3,133
Sad i'm not trying to understand PA
2 Shot in LO, 4 R in my Purse always basic rule with manual move SL 1 R
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Quoting Trader20595
hello guys i like this strategy(in the firts posts),in your possible is it possible to create an EA to open trades in 4h charts with the eelfranz rules with stochastic and TDI?(in the first post) and is it at least profitable this strategy? thank you

if you can tell me how to incorporate post#647 into an expert advisor EA for post#1, then I may have time to do develop an EA for this.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
Quoting Bordy
{quote} I have 4 opened positions (max allowed), opened at 4 fixed pips intervals. Planned to finish the building process at the 61.8% ret (because is a trend following case). The total risk is 2% managed with position size and emergency SL above last week High. The entry method could be different, the point on what i struggle is to find a good rule based strategy to exit the losing pos and so "cut losses short". Could u give us some more clues on this last point about the reasons on how you close the oldest pos? Thank you.
Hi Bordy,

It is difficult without a chart to see where you have your first open positions.
But I imagine you have open initial sell position on Monday and Tuesday.
We have big news in about 2 hours and expect high volatility. SL above last week's high is too tight as it is now.
I would close those positions opened on Monday and Tuesday i.e. those open between 181.00 and 183.00.
or
close all open positions before and we wait for next week to do recovery

can you PM me with a link to your trade chart?
I try plan a recovery trade for next week.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
Quoting longbk
2 Shot in LO, 4 R in my Purse always basic rule with manual move SL 1 R {image} {image}
Are you in because of LO and TDI cross and HA change color within 2 bars?
Strange, I cant seem to set up indicators on MAC, anybody else experience this ?
Look at something long enough, you will eventually get it.
Quoting emmanuel7788
{quote} Hi Bordy, It is difficult without a chart to see where you have your first open positions. But I imagine you have open initial sell position on Monday and Tuesday. We have big news in about 2 hours and expect high volatility. SL above last week's high is too tight as it is now. I would close those positions opened on Monday and Tuesday i.e. those open between 181.00 and 183.00. or close all open positions before and we wait for next week to do recovery can you PM me with a link to your trade chart? I try plan a recovery trade for next week....

Yes,
i started to open positions on monday and tuesday.
Today, before LO i closed all the trade.

My question is: how do u evaluate when to close some pos (or all of them), so the initial plan is not good anymore.

  1. Price action/ break of structure, HH?
  2. maximum draw down of one position?
  3. ecc.


Attached is the chart with analisys.
Entry were with same pips distance between 0 and 61.8% ret.

Thanks.

Attached Image (click to enlarge)
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Quoting tibovwh
Still haven't fully debugged all the things on my platform so not fully focussed on setups. We'll get there tho. I did just get lured into this trade: I had 1H EURAUD chart open. FO bounced of prev low and 1.58 RN and LO broke a small trendline. Trading towards DOL and EMA isn't A++ however and trade did reject off 200EMA. Price then pulled back during London Session towards the trendline and consolidated during lunch. (2x NR4IB) When I saw some momentum come back into the market I switched to 15M chart to look for an entry. Ofcourse this is still...
My trade entry on 15M that was stopped out would have turned out great despite trading towards DOL and EMA. I think these setups are not neccesarily bad when they are combined with divergence.

Overnight price pulled back completely to familiar resistance. Price started consolidating inside LO+1. Before NYO momentum seemed to return and I looked for a breakout on 15M chart again. Just like yesterday we were trading towards DOL and EMA unfortunatly but we have rejected 1.58 a few times now. There was also divergence.

After the breakout we saw a double NR4IB and we were stopped out subsequently.

It's probably time that I start learning from these things... I think when I look for an early entry on the 15M after a 1H setup I need to make sure that I use Position Size and SL based on ATR(10) of the 1H chart and NOT of the 15M chart ! Feedback welcome



Best,
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GJ _ H1 long , with news spike, helped reach final TP , entered 2 positions , total +240 pips
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I Have Learned to Take Some Losses to Make Profits
GBPUSD H1 +60
First trade taken at LO on H1. Price had been bouncing on the 200ema and RN during Asian session. Big spike at FO which can catch you out if you are not careful TP set just below YH and local S/R.
Second trade taken at NYO +1 on M15 when price broke above BRN. TP set just below ADR.
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Never argue with a fool; onlookers may not be able to tell the difference.
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