Trading Made Simple | Page 3057 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Monitor for 'Trading Made Simple' system 565 replies

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

Indicators for the 'Trading Made Simple' system 343 replies

MTF Indicators for the 'Trading Made Simple' system 241 replies

Trading Made Simple system follower - Thanks to eelfranz 9 replies

Attachments: Trading Made Simple
Exit Attachments

Trading Made Simple

  • #61,121
  • Oct 6, 2015 4:37am Oct 6, 2015 4:37am
Quoting Javforex
{quote} 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.
Couple of things buddy ...
Traders here, now, use more of 5 and 10 ema, than 23/221 MA's .......
The candlesticks and their patterns are more important than any MA ...
  • #61,122
  • Oct 6, 2015 4:40am Oct 6, 2015 4:40am
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}
If you entered on the 2nd blue candle price went up 50 pips from there before falling back.
  • #61,123
  • Oct 6, 2015 5:13am Oct 6, 2015 5:13am
Is it just me or has the past 2 weeks been kinda funky for those trading the original Big E method on the 4hr and 1 hr according to the times he used?
Scared money DON'T make money!
  • #61,124
  • Oct 6, 2015 5:25am Oct 6, 2015 5:25am
Quoting lastingwell
{quote}If you entered on the 2nd blue candle price went up 50 pips from there before falling back.

Hi lastingwell,

Not quite getting you there. Since the opening of 2nd candle, only 15 pips went up at max.

Am I defining it wrongly? (definition of 2nd candle is 2nd blue candle after cross over)?

Unfortunately, as everyone mentioned, it was countertrending, therefore, the tick in TDI
Attached Image (click to enlarge)
Click to Enlarge Name: 2nd Candle.jpg Size: 92 KB
  • #61,125
  • Oct 6, 2015 5:29am Oct 6, 2015 5:29am
Quoting Javforex
{quote} 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?

Exit just because the market pull back 20 pips against your entry is not a proven Exit Strategy. You need to give room for the trade to breathe.

Look at the TIMING of the market at the time of your H1 entry. Who is buying, who is selling?

In the first place, you chased after the market by entering after a 'big candle'. The market has the habit to set up traders who do not see what inside a 'big candle'.

Sure that can be counter trend, but when we trade intraday H1 and M15, we can trade both ways.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #61,126
  • Oct 6, 2015 5:40am Oct 6, 2015 5:40am
Quoting emmanuel7788
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. {image}
http://www.forexfactory.com/attachme...1&d=1444107533
Hi E this was the chart and the BRN indi was what I was referring to.
Scared money DON'T make money!
  • #61,127
  • Oct 6, 2015 5:45am Oct 6, 2015 5:45am
Quoting emmanuel7788
{quote} Exit just because the market pull back 20 pips against your entry is not a proven Exit Strategy. You need to give room for the trade to breathe. Look at the TIMING of the market at the time of your H1 entry. Who is buying, who is selling? In the first place, you chased after the market by entering after a 'big candle'. The market has the habit to set up traders who do not see what inside a 'big candle'. Sure that can be counter trend, but when we trade intraday H1 and M15, we can trade both ways.
Got it. Should have set my SL to the low of previous candle.

I don't quite get the timing of the market, and the buyer/seller. Would you mind elaborate and how they can affect the trade?

I've entered as TDI crossed, which happened on this big candle. By looking inside the big candle, do you mean looking at the PA of the lower TF and deduce the trend?

Thanks for the reply.
  • #61,128
  • Edited 6:08am Oct 6, 2015 5:56am | Edited 6:08am
Quoting Javforex
{quote} Hi lastingwell, Not quite getting you there. Since the opening of 2nd candle, only 15 pips went up at max. Am I defining it wrongly? (definition of 2nd candle is 2nd blue candle after cross over)? Unfortunately, as everyone mentioned, it was countertrending, therefore, the tick in TDI {image}
My bad, I hadn't even looked at the date of your trade just thought it was the one on ECad this morning. EDIT: Now I understand, on your original post you showed an Ecad trade, but now your showing a GJ
  • #61,129
  • Oct 6, 2015 5:58am Oct 6, 2015 5:58am
Quoting profitman
{quote} {image} Hi E this was the chart and the BRN indi was what I was referring to.

Hi,

You will find that BN Levels in this post:

BN Levels : Post#22,389 (also read post#49,341)

set the parameters to what you want to see on your chart.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #61,130
  • Oct 6, 2015 6:26am Oct 6, 2015 6:26am
Quoting Javforex
{quote} Hi lastingwell, Not quite getting you there. Since the opening of 2nd candle, only 15 pips went up at max. Am I defining it wrongly? (definition of 2nd candle is 2nd blue candle after cross over)? Unfortunately, as everyone mentioned, it was countertrending, therefore, the tick in TDI {image}
Hi Javforex, I reckon you should let us know what pair you are trading and the time of entry to avoid mis-reading. I was also caught out like Lw
the cautious seldom err....C
  • #61,131
  • Oct 6, 2015 7:17am Oct 6, 2015 7:17am
EURCAD H4 GMT1216 NYO

Attached Image (click to enlarge)
Click to Enlarge Name: EURCAD week 41 6 Oct H4 NYO.png Size: 73 KB


Go/No Go?
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #61,132
  • Oct 6, 2015 7:21am Oct 6, 2015 7:21am
I'll wait for Cad and US gdp in 10 mins before doing anything
the cautious seldom err....C
  • #61,133
  • Oct 6, 2015 7:53am Oct 6, 2015 7:53am
IMHO, daily is downtrending in the short term.
But seems like a good 4H setup, with PA breakout on 1.47 major level.
  • #61,134
  • Oct 6, 2015 8:06am Oct 6, 2015 8:06am
Quoting emmanuel7788
{quote} Hi, You will find that BN Levels in this post: BN Levels : Post#22,389 (also read post#49,341) set the parameters to what you want to see on your chart. regards,
Appreciate it.
Scared money DON'T make money!
  • #61,135
  • Oct 6, 2015 8:08am Oct 6, 2015 8:08am
Update on my EURNZD 1H Trade

Opened on the OPEN of LO+1. Countertrend into 200 EMA but there is room. LO closed above some 4H narrow range consolidation and 1.72 is Daily WRB (Black Monday) low.

Closed 1/3 at BRN 1.73 and 2/3 on close of candle after on bearish close and EURUSD looking weak also. Good for about 40 pips but very small Reward / Risk.

Feedback on entry and exits are welcome. I'm afraid I have exited this too early
Attached Image (click to enlarge)
Click to Enlarge Name: Schermafdruk 2015-10-06 16.01.12.png Size: 55 KB
  • #61,136
  • Oct 6, 2015 8:12am Oct 6, 2015 8:12am
Quoting emmanuel7788
EURCAD H4 GMT1216 NYO {image} Go/No Go?
Hey E ... just wondering if you decided to take that trade where would you put your stop loss?
  • #61,137
  • Oct 6, 2015 8:13am Oct 6, 2015 8:13am
EURUSD 1H Trade I had running:

Enter during LO on a break of Asian range and BRN 1.12 (a bit late). Then it went into consolidation

I exited 1/3 on break of the LO MC[3] and added a smaller second lot on that breakout. Next bar closed very bearish and I exited with a small loss.

We were trading in 4H WRB (NFP Friday) but I thought there was some room.

Best,
Attached Image (click to enlarge)
Click to Enlarge Name: Schermafdruk 2015-10-06 16.10.09.png Size: 60 KB
  • #61,138
  • Oct 6, 2015 8:47am Oct 6, 2015 8:47am
Quoting B1h1
{quote} Hey E ... just wondering if you decided to take that trade where would you put your stop loss?

No.
I avoid trading against the Weekly setup.
Also there is resistance above and H4 pull back. Always pay more attention to previous support turned resistance.
There is also a H4 WRB high to consider.

If you take the setup, there is only room for 60 pips and the SL at the last swing low is 100 pips.

Attached Image (click to enlarge)
Click to Enlarge Name: EURCAD week 41 6 Oct H4 NYO setup.png Size: 137 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #61,139
  • Oct 6, 2015 9:16am Oct 6, 2015 9:16am
Hi Traders,

I found your post looking for a TDi indicator. Thanks for the great information. Just a bit lost with abbreviations used but very informative thanks.
  • #61,140
  • Oct 6, 2015 9:20am Oct 6, 2015 9:20am
Love the smell of Green Grass and Greener Pips ... Yummmmmmmmmmmm

2 full lots on 4H TF ... 1st one taken after the previous candle broke the D O and added after the last candle showed good PA
Attached Image (click to enlarge)
Click to Enlarge Name: XAUUSDH4.png Size: 39 KB
37 traders viewing now