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Trading Made Simple

  • #60,941
  • Sep 29, 2015 4:22am Sep 29, 2015 4:22am
Quoting DaveWebb
{quote} Here they are. Also use BN {image}
Hi Dave

Thanks Dave. Appreciate it.
  • #60,942
  • Sep 29, 2015 4:27am Sep 29, 2015 4:27am
Quoting DaveWebb
{quote} Here they are. Also use BN I trade the London and New York Crica 6am - 6pm GMT {image}
Hi Dave,

Mind to share the moving average setting? What it the period setting and MA method?

Looking forward for your reply.

Regards,
Jay
  • #60,943
  • Sep 29, 2015 4:33am Sep 29, 2015 4:33am
Quoting jay280584
{quote} Hi Dave, Mind to share the moving average setting? What it the period setting and MA method? Looking forward for your reply. Regards, Jay
Everything you need is right here, including all the indicators.

http://www.forexfactory.com/showthre...34#post8324434
  • #60,944
  • Sep 29, 2015 4:51am Sep 29, 2015 4:51am
Quoting DaveWebb
{quote} Everything you need is right here, including all the indicators. http://www.forexfactory.com/showthre...34#post8324434
Hi Dave,

Thanks a lot.
  • #60,945
  • Sep 29, 2015 6:25am Sep 29, 2015 6:25am
Quoting DaveWebb
A couple more entries I have just made on H4. AUD/USD Buy @ 0.69716 GBP/JPY Buy @ 181.989 The risk involved on both is that they are going against the 200MA, however both are bouncing of Weekly low and ADR low. I will trail the stops fairly tight. I'm also keeping an eye on USD/JPY. Yesterdays result was +179 pips. 4 trades, all winners. I'm not cherry picking my trades and only showing winners - these are all live! Dave {image} {image}

Both trades fininshed.

AUD/USD hit my trailing stop at +25 pips. I probably trailed that too tight, but I was getting up towards a resistance line.
GBP/JPY hit the S/L at -30 pips, but I managed to scalp +10 pips back on the M15 chart.


So overall +5 pips.
  • #60,946
  • Sep 29, 2015 6:34am Sep 29, 2015 6:34am
Quoting Migleon
{quote} Small candles, the upper and lower shadows, TDI around the 50 level, price between levels 134.0-135.0 - the market consolidates. No entry points. Is it only if the candle closes up with a good size, with no lower shadow and green line will rebound from the red under good angle - then you can consider the long input Thanks Emmanuel7788 for examples and comments

Hi Migleon,

Your observation about the small candles is correct. EJ is sideways trading in the range of the D1 candle high-low. See chart below.
There is not enough range for a 4H swing trade so I prefer to trade this pair in lower TF - H1 and M15.

Attached Image (click to enlarge)
Click to Enlarge Name: EURJPY week 40 D1 sideways range.png Size: 67 KB


regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #60,947
  • Sep 29, 2015 6:46am Sep 29, 2015 6:46am
Quoting catalin_eros
{quote} Very nice, Big Emm! I'd better start using the conservative approach, too, cause it looks like a lot of pips can be bagged with it, and the entry can be done later. So if first two candles are not confirmed by the TDI, there are also entry opportunities using the conservative style. I'd like to ask if the trades you took on H4, using the conservative approach, were taken after confirming the direction with D1, or if you just traded the H4 alone. Another question I'd like to ask you is how did you set the targets? Thanks in advance, Big Emm!...
Hi catalin_eros,

Note that when I trade the 4H swing, I look at the market type and the average weekly range. If you look at the weekly charts, these pairs are sideways but the range is good enough for H4 swing trade target. Check the 52-weeks average weekly traded range of the pairs and on the H4 charts look for recent swing highs and swing lows as support and resistance, use these for target exit.
When the market is sideways, I look at the weekly and daily candle for trading bias.

Setting target is about exits.
Exit strategy Post#55,038

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #60,948
  • Sep 29, 2015 6:55am Sep 29, 2015 6:55am
Quoting emmanuel7788
{quote} Hi catalin_eros, Note that when I trade the 4H swing, I look at the market type and the average weekly range. If you look at the weekly charts, these pairs are sideways but the range is good enough for H4 swing trade target. Check the 52-weeks average weekly traded range of the pairs and on the H4 charts look for recent swing highs and swing lows as support and resistance, use these for target exit. When the market is sideways, I look at the weekly and daily candle for trading bias. Setting target is about exits. Exit strategy Post#55,038...
Thanks, Big Emm!
  • #60,949
  • Sep 29, 2015 7:09am Sep 29, 2015 7:09am
Quoting jay280584
{quote} Hi Mr.Emmanuel, Good day sir, could you tell:- 1. What approach you using and what time frame you look for entering the trade? 2. During what session you will enter and close the trade? 3. What are the indicator you will use for analysing the market before entering the trade and closing the trade. Looking forward for your reply. Regards, Jay

Hi Jay,

My approach to trade the market is by identifying the market type to trade. I trade both the trending market type and sideways wide range market type. I avoid trading narrow range sideways market type. I trade intraday on H1, 4H swing trading on H4 and Position trading on D1 charts. I do my Big Picture of the currency pairs I trade. using the MN chart, I look at historical price swing levels and uses these as support and resistance, set my trade target at these levels. With one same Big Picture plan, I trade 3 different timeframes. But when trading intraday, I can trade both ways - trend following and counter-trend so long as there is volatility and price momentum seen in that timeframe chart.
Big Picture Planning ; Post#27,200 Post#30,541

I do not open trade at specific time of the market session. I use a combination of Position Building and Multiple Entries / Multiple Exits for my 4H swing trading and Position trading.
Entry and Exits: Post#24,918 Post#18,422 Post#19,617
How to Build a Position: Post#19,588 Post#20,342

I do not use any indicator for market analysis just naked charts showing either Price bar or Japanese candlestick charts.

There are a lot of posts here and please find time and read my posts on many different topics shared here. Go to my profile and look for those files which I uploaded in this thread.

The better way to learn is to post your trades and trade planning charts and ask questions.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #60,950
  • Sep 29, 2015 7:21am Sep 29, 2015 7:21am
Quoting DaveWebb
Hidden
Hi Dave,

You have the right attitude and approach to learn to trade. You will be make it in short time and become successful.
Those DM training videos are very useful, and I still watch them whenever I have time and when I have a specific topic to study.
Reading those Big E pdf compiled by other members will not be enough because there are many other trading topics that are not covered Big E in that span of time. One can learn how Big E trade by reading the pdfs but this alone will not make anyone a trader. You will learn his 5-Method and also his trading style which may not suit you.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #60,951
  • Sep 29, 2015 7:21am Sep 29, 2015 7:21am
SL moved to BE on my AU trade, and PA heading towards TP.
Attached Image (click to enlarge)
Click to Enlarge Name: FF a.jpg Size: 152 KB
  • #60,952
  • Sep 29, 2015 7:29am Sep 29, 2015 7:29am
Quoting hishamzz
Big Emm, Any reasons for the revival of the Stochastic indicator on your template? I was under the impression that it was discarded as it did not provide sufficient proof of trades being more accurate. Zz

Hi Zz,

Well, from the many PMs I get every week it I think it is better to go back to the basics of the 5-Method. This should help the new traders to learn the 5-Method and they need to differentiate between aggressive trade entry and conservative trade entry. Once they know the difference, it is up to them to practice and gain more experience with Price Action trading and then they can dropped the Stochastics.
The proper use of the Stoch for confirmation will help identify the high probability setups. I know Big E dropped the 5EMA too and rely more on what he sees as price action and support and resistance. His Post#647 is important.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #60,953
  • Sep 29, 2015 7:53am Sep 29, 2015 7:53am
Quoting wjw
{quote} Below is my 2 cents. FYI, I'm a very new member to FF and this forum (less than a week old). Still learning. As pointed out by Emma on Post 57,801, the most important indicator is the PA. For USDCAD, the PA seem to indicate that it's consolidating - there is Mother/Master/WRB Candle on both H4 and H1 (see attached screenshot). According to TMS 5-Method Basic Rules.pdf , page...
Hi WJW,
How's trading going? Please could you upload the TDI indicator that shows signal for different timeframes, the *RecentCandles*? It's at the bottom of your chart. Thanks alot...
Attached Image (click to enlarge)
Click to Enlarge Name: H4.png Size: 69 KB
  • #60,954
  • Sep 29, 2015 8:15am Sep 29, 2015 8:15am
Quoting emmanuel7788
{quote} hi okoso, the 5-Method uses the 5 Exponential Moving Average set to Typical Price, with Shift+3. {image} This way in using shift is also known as 'Displaced Moving Average' or DMA. Google this keyword and you will find some good reading resources about the use of DMA. Many trading systems are built around using this DMA. For new traders, I recommend they use the Synergy_Pro-APB which has the PAC included. This PAC is build around the 9EMA with volatility factor added to the 9EMA to create the price channel. This is a good 'filter' to pick...
Hi emmanuel7788. I have no idea about de PAC. What is that means? The price channel means 5EMA & 9EMA make it or not?
  • #60,955
  • Sep 29, 2015 8:22am Sep 29, 2015 8:22am
Quoting emmanuel7788
EURJPY 29 Sep H4 pre-FO the current H4 will close 2 hours London Open, will there be a sell setup candle? what are the risks? {image} what is another possibility to trade this pair today?
Maybe i am not right. it should be waiting the candle finished. The TDI and stoch did not given the clear Signal。So, i think we should be waiting.
  • #60,956
  • Sep 29, 2015 8:30am Sep 29, 2015 8:30am
Quoting DaveWebb
{quote} Here they are. Also use BN I trade the London and New York Crica 6am - 6pm GMT {image}
Hi Dave. Thanks for you sharing. Could you share the indicator of avarage daily range pro caculator? Thanks a lot.
  • #60,957
  • Sep 29, 2015 8:54am Sep 29, 2015 8:54am
Lookleft..I took this GBPJPY trade today (went long at the close outside the DOL, see the arrow) and it hit my SL which was 75pips away (outside the channel). Is there anything that I should have done differently? Appreciate your comment.
Attached Image
  • #60,958
  • Sep 29, 2015 9:03am Sep 29, 2015 9:03am
Quoting emmanuel7788
{quote} Hi Jay, My approach to trade the market is by identifying the market type to trade. I trade both the trending market type and sideways wide range market type. I avoid trading narrow range sideways market type. I trade intraday on H1, 4H swing trading on H4 and Position trading on D1 charts. I do my Big Picture of the currency pairs I trade. using the MN chart, I look at historical price swing levels and uses these as support and resistance, set my trade target at these levels. With one same Big Picture plan, I trade 3 different timeframes....
Hi Emmanueal,

Thanks for the reply. Soon I will post my trade.

Regards
  • #60,959
  • Sep 29, 2015 9:13am Sep 29, 2015 9:13am
HI all,

Couple of trades I took today. I don't get that much feedback on my charts and I understand that I'm using a different broker / template so I try to make some things clear.

Blue slots are LO bars.
Small black = Yesterday H/L
Big blue = DOL

I wasn't in front of my charts during LO and I felt like I was chasing for the remainder of the day. Most of my entries were kinda late.

GBPUSD. Break of BRN after strong LO turned out to be a fake move. As i posted yesterday I would love some feedback on these trades as I find myself buying the tops waaay to often. Second trade on break of Yesterday Low but PA was choppy afterwards and closed manually after London Close for small loss.

EURAUD 2 entries again. Chasing the LO candle is never really a good idea... Last entry was perhaps even worse. Trading into EMA200 so should of just booked some pips.

GBNZD also entered too late but trade still moved in my favor and closed for 138 pips on average.

Have a good night all,
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Schermafdruk 2015-09-29 18.43.10.png Size: 77 KB
Click to Enlarge Name: Schermafdruk 2015-09-29 18.52.20.png Size: 63 KB
Click to Enlarge Name: Schermafdruk 2015-09-29 18.56.07.png Size: 74 KB
  • #60,960
  • Sep 29, 2015 9:28am Sep 29, 2015 9:28am
Quoting rabhni
Lookleft..I took this GBPJPY trade today (went long at the close outside the DOL, see the arrow) and it hit my SL which was 75pips away (outside the channel). Is there anything that I should have done differently? Appreciate your comment. {image}
Rabhni,

I saw the same setup. I hope lookleft can answer this. But here is my 2 cents because I tried my hands on a 4H trade building position (ME). I'm currently still in it with average entry 181.65 and S/L 180.90

Your S/L was only 1x ATR(10) and the setup candle was kind of large.. I would have adjusted my position to place my S/L below the low of the setup candle (181)

This is a trade into the 200EMA however so it is countertrend. but there is regular bullish divergence and some room to EMA so perhaps a reversal. I hope you were demo trading (like me)

Best,
Attached Image (click to enlarge)
Click to Enlarge Name: Schermafdruk 2015-09-29 19.21.36.png Size: 88 KB
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