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Trading Made Simple

  • #60,741
  • Sep 23, 2015 3:10am Sep 23, 2015 3:10am
Quoting WayneTech
{quote} My trade got stopped. probably shouldnt enter trades during asian session no matter how tempting the setup looks like... {image} {image}
What was the TDI telling you about your trade entry ?
Extract from the Synergy Pro manual: "Green line < 32 Selling momentum will slow and reverse."
Learn what the TDI is telling you and use this as trade confirmation. Just following a cross without understanding what the TDI is telling you will get you into bad trades.
Also if you had set your TP just above the RN (183.50) there was at least 25 pips to be had.
Never argue with a fool; onlookers may not be able to tell the difference.
  • #60,742
  • Sep 23, 2015 3:25am Sep 23, 2015 3:25am
Quoting Lookleft
{quote} What was the TDI telling you about your trade entry ? Extract from the Synergy Pro manual: "Green line < 32 Selling momentum will slow and reverse." Learn what the TDI is telling you and use this as trade confirmation. Just following a cross without understanding what the TDI is telling you will get you into bad trades. Also if you had set your TP just above the RN (183.50) there was at least 25 pips to be had.
Good Day Lookleft,

i guess i should've been less greedy with the take profit, closed at 25 the 1st entry and set my stop loss to BE on the second entry.
I will look for the synergy pro manual on the attachments page and review first before i trade again.

Thank you for your comment!
why do we fall? So we can learn to pick ourselves up.
  • #60,743
  • Sep 23, 2015 3:35am Sep 23, 2015 3:35am
Quoting tibovwh
I took the close of this 1H candle as a signal on EURAUD. I set 3 TP's and a 1.5x ATR10 S/L. Best, {image}
Was stopped out by 3 pips before it went for my 3 TP's... Need to work on execution.
  • #60,744
  • Sep 23, 2015 3:48am Sep 23, 2015 3:48am
Quoting WayneTech
Entered 2nd candle sell GJ H1 after TDI cross and break out from previous support levels(Weekly low, Daily Low, BNL 184.000) Regards {image}

Hi,

It not easy to trade this pair with small SL. You entered after a big H1 candle which is never a good way for a trade entry.
On H1 there was a WRB consolidation and we should look to sell at the high of this H1 WRB. There was no H1 setup as I saw this morning. I did not want to comment this morning as you were already in the trade.
H4 still look decent but it is already the 6th H4 candle and usually not a good time to jump into the market. Wait for a retrace, i.e. to sell at a higher price.
There are several historical price swing levels on H4 and I usually trade between these historical swing levels using TMS setup for entries.
Also notice the H4 TDI has gone out of the VB with the drop yesterday and we must now look at the price action closely to see if there will be another consolidation / sideways market type before the next move. The TDI can move lower to the 20 level if the selling is strong.

Remember this:
Downtrend TDI level 60 to 20
Uptrend TDI level 40 to 80.

Read about RSI: The Complete Guide Post#27,110 by John Hayden
Trend Determination using the RSI (TDI) Post#26,774

Current price action is in a support zone therefore better to wait for the good timed entry if we want to sell this week.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPY week 39 H4 23 Sep.png Size: 85 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #60,745
  • Sep 23, 2015 3:56am Sep 23, 2015 3:56am
Quoting tibovwh
{quote} Was stopped out by 3 pips before it went for my 3 TP's... Need to work on execution.
Hi,

same trade I took.
Pos 1 +25pips
Pos 2 and 3 manual exit - 40pips x 2

it is sitting on 1.5700 for quite long now.... will be sideways until the breakout of that big candle.


Attached Image (click to enlarge)
Click to Enlarge Name: EURAUD week 39 H4 trades 22 Sep.png Size: 32 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #60,746
  • Sep 23, 2015 4:19am Sep 23, 2015 4:19am
GBPCAD week 39 H4 trading.

We have a D1 chart sell setup when today open.
Now looking at H4, we are reaching a 'support' zone and we need to see sellers over come this support zone . Should this happen, then the TDI will move lower and the Stoch will remain below the 20-level.

Do Not believe that just because oscillators are at their low levels the market will reverse. The priec volatility and its momentum will determine the lagging oscillators.

Have you ever asked why did the creator of the TDI use the level 32 and 68 levels? To me these levels a irrelevant when we trade TMS.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPCAD week 39 H4 chart 23 Sep.png Size: 64 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #60,747
  • Sep 23, 2015 4:32am Sep 23, 2015 4:32am
Quoting emmanuel7788
{quote} Hi, I am using the TMS Monitor which helps me monitor 15 currency pairs. It is an expert advisor EA not an indicator. I use the correct versions of the APB and TDI renamed these so that the EA will alert me of the chart conditions. Do No use that as trade signal but just for alert purposes and you still need to analyse the chart to see if there is a trade setup which is according to your trading plan. Link: http://www.forexfactory.com/showthread.php?t=303347 latest monitor show GBPCAD D1 chart sell... {image} regards,
Thank you very much Mr Emmanuel for this information.
This was exactly what i needed.
I do not intend use it as a trading signal, that like a road without lines, i only need it to analyze my trade for me to reassert the chart and look for A++ trades and avoid trades that are currently consolidating.
I shall make the changes as you have also made.
Thank you once again.

Regards,
Festus
Motivation is what gets you started. Habit is what keeps you going
  • #60,748
  • Sep 23, 2015 4:38am Sep 23, 2015 4:38am
Quoting emmanuel7788
{quote} Hi, same trade I took. Pos 1 +25pips Pos 2 and 3 manual exit - 40pips x 2 it is sitting on 1.5700 for quite long now.... will be sideways until the breakout of that big candle. {image}
Your entry must have been a lot better than mine. I bought at close of SO+1 and went straight back to hit S/L. In hindsight my S/L should have been below the low of SO.

Best,
  • #60,749
  • Sep 23, 2015 5:34am Sep 23, 2015 5:34am
GBPJPY-H4.. Previously price broke the S/R. Took a chance when price retrace back to near S/R with a minimum SL
Attached Image (click to enlarge)
Click to Enlarge Name: 2015-09-23_16-30-20GBPJPY-H4.png Size: 42 KB
Sad i'm not trying to understand PA
  • #60,750
  • Sep 23, 2015 6:29am Sep 23, 2015 6:29am
Quoting emmanuel7788
{quote} Hi, It not easy to trade this pair with small SL. You entered after a big H1 candle which is never a good way for a trade entry. On H1 there was a WRB consolidation and we should look to sell at the high of this H1 WRB. There was no H1 setup as I saw this morning. I did not want to comment this morning as you were already in the trade. H4 still look decent but it is already the 6th H4 candle and usually not a good time to jump into the market. Wait for a retrace, i.e. to sell at a higher price. There are several historical price swing levels...
very good explanation, and I recommend reading the "RSI: The Complete Guide" book, it has really awesome material, thank you Emmanuel for sharing it.
  • #60,751
  • Sep 23, 2015 6:29am Sep 23, 2015 6:29am
Quoting omonisha
GBPJPY-H4.. Previously price broke the S/R. Took a chance when price retrace back to near S/R with a minimum SL {image}

You don't need the TDI on your chart for this trade...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #60,752
  • Sep 23, 2015 6:36am Sep 23, 2015 6:36am
Quoting emmanuel7788
GBPCAD week 39 H4 trading. We have a D1 chart sell setup when today open. Now looking at H4, we are reaching a 'support' zone and we need to see sellers over come this support zone . Should this happen, then the TDI will move lower and the Stoch will remain below the 20-level. Do Not believe that just because oscillators are at their low levels the market will reverse. The priec volatility and its momentum will determine the lagging oscillators. Have you ever asked why did the creator of the TDI use the level 32 and 68 levels? To me these levels...
Price has gone out of the VB, it might stagnate there for a while before going down(in case it continues down).
  • #60,753
  • Sep 23, 2015 6:53am Sep 23, 2015 6:53am
I've loaded up the old school TMS indicators (Heiken Ashi, TDI and Stochastics 8,3,3) for cTrader and trading the 4H charts.
GBPJPY +30 pips profit banked so far and +87 pips this week from trading the TMS.
4H TDI is currently at strong angle but hasn't officially crossed yet (new 4H candle due in 1 hour). Keep an eye on GBPJPY guys

Hope everyone is having a good day and trading well.
Attached Image (click to enlarge)
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Attached Image
  • #60,754
  • Sep 23, 2015 7:14am Sep 23, 2015 7:14am
Quoting elfanta
{quote} Price has gone out of the VB, it might stagnate there for a while before going down(in case it continues down).

we should start observe the H4 price volatility and see what happens to the TDI VB. Should the price remains bearish and volatile, the VB will respond by widening further as the yellow MBL starts to slope downwards. This would be a good sign to confirm the downward move on H4.

We have CAD retail data today. This may help.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #60,755
  • Sep 23, 2015 8:14am Sep 23, 2015 8:14am
GBPAUD and GBPNZD H4 sell setup on this currect H4 open...at GMT1300 candle
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #60,756
  • Sep 23, 2015 8:17am Sep 23, 2015 8:17am
3 trades....today...


GBPJPY +30

GBPUSD +30

EURGBP -9.7
I took position at 4:50 PM (GMT+9)
I should have thought about 2 points

1st) It's too late to take position I should have wait until 5PM

2nd) I forgot EU PMI I should avoid entry +1hour and -1 hour.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Screenshot_105.png Size: 53 KB
Click to Enlarge Name: Screenshot_106.png Size: 52 KB
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  • #60,757
  • Sep 23, 2015 8:27am Sep 23, 2015 8:27am
Quoting yuki0912
3 trades....today... GBPJPY +30 GBPUSD +30 EURGBP -9.7 I took position at 4:50 PM (GMT+9) I should have thought about 2 points 1st) It's too late to take position I should have wait until 5PM 2nd) I forgot EU PMI I should avoid entry +1hour and -1 hour. {image} {image} {image}

Good trades!

is that the Chandelier Exit you have on your charts? that red/blue lines.
that is very useful to see the price volatility and place your stops.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #60,758
  • Sep 23, 2015 8:40am Sep 23, 2015 8:40am
GBPUSD H4 Day 2 Update (+385 taken +295 unrealised)
Position 1
TP1 +50 closed
TP2 +100 closed
TP3 +120 closed
Unrealised +225 (+165 protected)
Position 2
TP1 +50 closed
TP2 +65 closed
Unrealised +70
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 23 KB
Never argue with a fool; onlookers may not be able to tell the difference.
  • #60,759
  • Sep 23, 2015 8:47am Sep 23, 2015 8:47am
Quoting Lookleft
GBPUSD H4 Day 2 Update (+385 taken +295 unrealised) Position 1 TP1 +50 closed TP2 +100 closed TP3 +120 closed Unrealised +225 (+165 protected) Position 2 TP1 +50 closed TP2 +65 closed Unrealised +70 {image}
Wow. Killing it mate well done
  • #60,760
  • Sep 23, 2015 9:13am Sep 23, 2015 9:13am
Quoting emmanuel7788
{quote} Good trades! is that the Chandelier Exit you have on your charts? that red/blue lines. that is very useful to see the price volatility and place your stops.
ya Emma

it's ATR level

But I dont use it now

because Look Left's method is good for me
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