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Trading Made Simple

  • #61,101
  • Oct 5, 2015 11:07pm Oct 5, 2015 11:07pm
Quoting birdnest
{quote} It is in consolidation/narrow range. Why is the D1 TDI useless? I don't see a PA on D1 today. It looks undecided where it wants to go. On the other hand, GJ and GN is looking like something I will go with a buy and sell at H4 confirmation for a continuation in bull and bear.
For study, you look at both the GBPUSD and GBPJPY D1 charts.
Study the price action and the TDI characteristics.
If you think you have found the answer, then your third eye is developed and open.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #61,102
  • Oct 5, 2015 11:23pm Oct 5, 2015 11:23pm
Hello emmanuel, by your posts i can see that you have entry edge. Did you ever thought about multi time frame trading? Like have a plan on monthly time frame, entry area 4/1hour time frame and scouts (real time trading) at 5min time frame. It would make huge gap in risk & reward.

ps. I see you are open minded person, so wanted to change a bit perspective of view.

regards,
  • #61,103
  • Edited Oct 6, 2015 12:01am Oct 5, 2015 11:40pm | Edited Oct 6, 2015 12:01am
Quoting birdnest
{quote} Hi Emmanuel, Thanks. I have a love hate relationship with GN. It gives me most pips and also most losses. Just need to study when is the right entry for the ME/ME position. But the next weekly support, it has a long way south down.
Once you have done your Big Picture Plan for GN, you know its is bearish.
You can open sell when this week open i.e. Monday open. But you must be prepared to build more positions when it retraces against your first entry. This way you will get several entries and an overall better average entry price.
But what of it does not retrace? Simple, you take profit at every +50pips move, re-enter again. Keep doing this until one of your entry is caught in a retracement and you build positions again.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPNZD week 41 H4 trading.png Size: 61 KB



Question is , when do we add position during the retracement?
rule#1: Do not add position within a 4H period, wait for the next 4-hour.i.e space out your entries.
rule#2: Use the H1 or M15 TDI setup for add-on entry, but must follow rule#1.
rule#3: Know your cut-loss i.e. your Exit Strategy for the trade when the retracement go "too deep" and there is trade invalidation in the timeframe of your trade.
rule#4: Take what the market gave you and be prepared to come back the next day and be able to trade again.
rule#5: Do not pray when market goes against your positions. Remain calm and compose, be very focus on what you are suppose to do, your tasks as a trader.


If you do not want to use %risk and position sizing for every new entry position, you can trade the smallest lot size your broker allows you. For example, in a standard account, the smallest lot size is 0.01 lot and you can make some money this way. But using %risk and position sizing, you can grow an account much quicker.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #61,104
  • Oct 6, 2015 12:00am Oct 6, 2015 12:00am
AUDUSD week 41 H4 trades.
Trading the higher TF like H4 and D1, we are seldom affected by the market's knee jerk reaction when economic data release. Once the market direction/trend is established in the higher TF, news events do not reverse that direction so easily.

Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD Week 41 H4 trades.png Size: 48 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #61,105
  • Oct 6, 2015 12:20am Oct 6, 2015 12:20am
Quoting emmanuel7788
GBPJPY week 41 5 Oct H4 trade. Took this trade when Tokyo open today. Target the recent high and BRN183.00. We should now look at how today D1 candle will close and if we have a D1 buy setup tomorrow. {image}

GBPJPY looking bullish but there was no TMS 5-Method setup candle on D1.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPY week 41 6 Oct pre-LO.png Size: 62 KB


Buy on D1 chart means your SL is below last week' low...210pips.

How do you get an entry with smaller initial SL?
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #61,106
  • Oct 6, 2015 1:02am Oct 6, 2015 1:02am
Quoting emmanuel7788
{quote} How do you get an entry with smaller initial SL?
by going to smaller TFs i guess, i saw a chance to buy GJ on 30M but tdi couldnt cross yellow line so closed early

anyway i was just trying to answer your Q

happy trading
  • #61,107
  • Oct 6, 2015 1:35am Oct 6, 2015 1:35am
Quoting emmanuel7788
{quote} GBPJPY looking bullish but there was no TMS 5-Method setup candle on D1. {image} Buy on D1 chart means your SL is below last week' low...210pips. How do you get an entry with smaller initial SL?
Now bearish engulfing on H4 , tdi cross up stochastic down -- I'm confused
Attached Image (click to enlarge)
Click to Enlarge Name: BEAR.png Size: 51 KB
  • #61,108
  • Oct 6, 2015 2:21am Oct 6, 2015 2:21am
Quoting robuk
{quote} Now bearish engulfing on H4 , tdi cross up stochastic down -- I'm confused{image}
Almost 2 hours left for 4H candle to close ... will it be a bearish engluf by then ... I doubt ....looking at candle patterns ... Always wait for he candle to close, especially on FHT's ... to decide .....
  • #61,109
  • Oct 6, 2015 2:34am Oct 6, 2015 2:34am
waited for the LO candle to clear the FO candle H and entered ....
Attached Image (click to enlarge)
Click to Enlarge Name: EURAUDH1.png Size: 37 KB
  • #61,110
  • Oct 6, 2015 2:45am Oct 6, 2015 2:45am
Quoting adikashyap
{quote} Almost 2 hours left for 4H candle to close ... will it be a bearish engluf by then ... I doubt ....looking at candle patterns ... Always wait for he candle to close, especially on FHT's ... to decide .....
Thanks ADI , will do .
  • #61,111
  • Oct 6, 2015 3:09am Oct 6, 2015 3:09am
Quoting robuk
{quote} Thanks ADI , will do .
In between, I went Long just now ...
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYH1.png Size: 40 KB
  • #61,112
  • Oct 6, 2015 3:14am Oct 6, 2015 3:14am
Trading is What do I see (market data / chart) ... What does it mean (Data interpretation / analysis) ... What do I do (action) ...
Emm did his own big picture Planning ... I did mine ... Data, we got, were same ... Interpretations are poles apart ... specifically GN n EN ... I'm Bullish ... He is Bearish ...
Its not the question of who is right NOW?
Important aspect is ... Both of us have Plans ... If this and this happens, I will do this and this ...
If Plan A fails, we can always switch over to Plan B ...
If, with my small 7 years experience, I have a contingency Plan B, Emm (with his robust experience and expertise) will have Plans B, C and D as well ...
Plan your trades ... Trade your Plans ...
Stay in green pips ..........
  • #61,113
  • Oct 6, 2015 4:01am Oct 6, 2015 4:01am
Quoting robuk
{quote} Now bearish engulfing on H4 , tdi cross up stochastic down -- I'm confused{image}

is is so important that we must wait for the candle to close to confirm a setup.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPY week 41 6 Oct H4 closing.png Size: 65 KB


looking at the H4 chart above, there was a TDI cross and now a TDI bounce.
Why these two TDI trades must not be taken?
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #61,114
  • Oct 6, 2015 4:02am Oct 6, 2015 4:02am
Hi All,

I'm new to this thread but find it interesting and hope to learn from you guys.

Would like to know what have I missed out following this failed trade.

It seems well when I entered on the 2nd blue candle, after TDI make a 2 O'clock cross. Yet, price kept going down.

Have I missed out anything that indicates that this is not a good trade to take?

Hope to hear your expert opinions.

Regards,
Javien
Attached Image (click to enlarge)
Click to Enlarge Name: EC Long.jpg Size: 403 KB
  • #61,115
  • Oct 6, 2015 4:10am Oct 6, 2015 4:10am
Quoting adikashyap
waited for the LO candle to clear the FO candle H and entered .... {image}
I was looking at this but a couple of things held me back... Very bearish 4H bar in Asia. Not much room to the 200 EMA and DOL in the way. I took the LO close in EURNZD. Although the true setup candle was FO close it was indecisive.

Let's hope we can both come away with some pips


Best,
Attached Image (click to enlarge)
Click to Enlarge Name: Schermafdruk 2015-10-06 12.05.33.png Size: 130 KB
  • #61,116
  • Oct 6, 2015 4:15am Oct 6, 2015 4:15am
Quoting Javforex
Hi All, I'm new to this thread but find it interesting and hope to learn from you guys. Would like to know what have I missed out following this failed trade. It seems well when I entered on the 2nd blue candle, after TDI make a 2 O'clock cross. Yet, price kept going down. Have I missed out anything that indicates that this is not a good trade to take? Hope to hear your expert opinions. Regards, Javien {image}
Hi Jav,

Your chart shows price is in a strong down-trend so your long entry is counter-trend and right into your moving average. Tilt the odds in your favour by trading away from those moving averages and in the direction of the overall trend.

- When price is above the MA's look for TDI buy signals
- When price is below the MA's look for TDI sell signals

Eventually, you'll begin to spot high-probability counter-trend setups as well, but these are less common and since TMS is a trend-trading method, we should be looking for opportunities to trade with the overall trend.

Hope that helps

Ballistical
Focus on the process and the profits will follow
  • #61,117
  • Oct 6, 2015 4:16am Oct 6, 2015 4:16am
Quoting Javforex
Hi All, I'm new to this thread but find it interesting and hope to learn from you guys. Would like to know what have I missed out following this failed trade. It seems well when I entered on the 2nd blue candle, after TDI make a 2 O'clock cross. Yet, price kept going down. Have I missed out anything that indicates that this is not a good trade to take? Hope to hear your expert opinions. Regards, Javien {image}

But your trade is not done yet.
why do you see that as failed trade?
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #61,118
  • Oct 6, 2015 4:20am Oct 6, 2015 4:20am
Quoting adikashyap
{quote} Almost 2 hours left for 4H candle to close ... will it be a bearish engluf by then ... I doubt ....looking at candle patterns ... Always wait for he candle to close, especially on FHT's ... to decide .....
As 4H candle printed Hammer ... Added position ...
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYH4.png Size: 39 KB
  • #61,119
  • Oct 6, 2015 4:22am Oct 6, 2015 4:22am
Quoting emmanuel7788
{quote} But your trade is not done yet. why do you see that as failed trade?
Thanks Emmanuel for the reply.

The trade went 20 pips against me. And judging from the opening/closing, the next bar would be red, hence, a losing trade.

Would you have waited for the candle to finish before cutting?
  • #61,120
  • Oct 6, 2015 4:28am Oct 6, 2015 4:28am
Quoting Ballistical
{quote} Hi Jav, Your chart shows price is in a strong down-trend so your long entry is counter-trend and right into your moving average. Tilt the odds in your favour by trading away from those moving averages and in the direction of the overall trend. - When price is above the MA's look for TDI buy signals - When price is below the MA's look for TDI sell signals Eventually, you'll begin to spot high-probability counter-trend setups as well, but these are less common and since TMS is a trend-trading method, we should be looking for opportunities...
Hi Ballistics, thanks for the comment. So 23/221 MA is still valid to make a decision on whether to take a bias on the trend, rather than just entry? Got it.
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