GBPUSD H4 new H4 candle just open...
do we have an entry?
do we have an entry?
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- Post #61,281
- Quote
- Oct 9, 2015 1:05am Oct 9, 2015 1:05am
- Joined Nov 2008 | Status: Member | 30,239 Posts
- Post #61,282
- Quote
- Edited at 4:50am Oct 9, 2015 1:13am | Edited at 4:50am
- Joined Nov 2008 | Status: Member | 30,239 Posts
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- Post #61,283
- Quote
- Oct 9, 2015 1:17am Oct 9, 2015 1:17am
GBPUSD H4 new H4 candle just open... do we have an entry? {image}
First things first, congrats on you 10K's post. You are a perfect example of what makes this forum great. Your trading, teaching, and patients serves as inspiration to us all.
Regarding your question, i would move to a lower timeframe and wait for a close above the WRB and setup candle of the IB (candle previous to IB). Alternatively, i would place a buy stop order 15 pips above the high of the WRB/IB-setup, assuming i had a long bias. I'm not terribly experience with WRB/IB breakouts, but i seem to recall similar tactics in a pdf posted earlier.
All the best, and thanks again for all your contributions.
Nik
- Post #61,284
- Quote
- Oct 9, 2015 1:35am Oct 9, 2015 1:35am
- Joined Nov 2008 | Status: Member | 30,239 Posts
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- Post #61,285
- Quote
- Oct 9, 2015 1:42am Oct 9, 2015 1:42am
- Joined Nov 2008 | Status: Member | 30,239 Posts
USDCAD week 41 H4 ME/ME trades closed.
6 trades, total 318 pips.
6 trades, total 318 pips.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- Post #61,286
- Quote
- Oct 9, 2015 1:44am Oct 9, 2015 1:44am
- Joined Nov 2012 | Status: Member | 2,308 Posts
USDCAD week 41 H4 ME/ME trades closed. 6 trades, total 318 pips. {image}
amazing trades
I Have Learned to Take Some Losses to Make Profits
- Post #61,288
- Quote
- Oct 9, 2015 2:01am Oct 9, 2015 2:01am
- Joined Feb 2013 | Status: Member | 432 Posts
Focus on the process and the profits will follow
- Post #61,289
- Quote
- Oct 9, 2015 2:19am Oct 9, 2015 2:19am
- Joined Feb 2013 | Status: Member | 432 Posts
Focus on the process and the profits will follow
- Post #61,290
- Quote
- Oct 9, 2015 2:22am Oct 9, 2015 2:22am
Trading can't be taught but it can be learned
- Post #61,291
- Quote
- Oct 9, 2015 2:41am Oct 9, 2015 2:41am
Trading can't be taught but it can be learned
- Post #61,292
- Quote
- Oct 9, 2015 2:53am Oct 9, 2015 2:53am
Have not posted in a while so figured i would share both my trades from thursday as they were both conveniently winners and i just closed them out ;-)
EURAUD M30
+175pips, but more importantly, a 1:4 R:R ratio
Continuation PA trade taken on the break of Bearish Engulfing/Outside Bar, no TDI cross, but green did break the VB. Also price broke below 50 ema and my stop was now protected by it.
AUDUSD M15
+100pips, But more importantly my SL was only 10pips, this trade had a 1:10 RR
More of a classic 5-Method trade, except i was not convinced with first candle breaking the PAC, i wanted little more momentum and entered on a Bullish/Engulging Bar few candles later. I used a small SL because i planned an aggressive move to BE. Market was luckily kind.
This was obviously a particularly good/trendy day, by no means are these results typical.
The next time someone asks you whether you want 100p or 175p, make sure to ask how big the initial SL was because only R:R tells the full story.
Hope everyone is staying green,
Nik
EURAUD M30
+175pips, but more importantly, a 1:4 R:R ratio
Continuation PA trade taken on the break of Bearish Engulfing/Outside Bar, no TDI cross, but green did break the VB. Also price broke below 50 ema and my stop was now protected by it.
AUDUSD M15
+100pips, But more importantly my SL was only 10pips, this trade had a 1:10 RR
More of a classic 5-Method trade, except i was not convinced with first candle breaking the PAC, i wanted little more momentum and entered on a Bullish/Engulging Bar few candles later. I used a small SL because i planned an aggressive move to BE. Market was luckily kind.
This was obviously a particularly good/trendy day, by no means are these results typical.
The next time someone asks you whether you want 100p or 175p, make sure to ask how big the initial SL was because only R:R tells the full story.
Hope everyone is staying green,
Nik
- Post #61,293
- Quote
- Oct 9, 2015 2:54am Oct 9, 2015 2:54am
*** Shoot for the moon. Even if you miss, you'll land among the stars. ***
- Post #61,295
- Quote
- Oct 9, 2015 3:10am Oct 9, 2015 3:10am
- Joined Feb 2013 | Status: Member | 432 Posts
Focus on the process and the profits will follow
- Post #61,296
- Quote
- Oct 9, 2015 3:11am Oct 9, 2015 3:11am
- Joined Nov 2008 | Status: Member | 30,239 Posts
{quote} Congrats on the positive result Emmanuel, Would you mind noting your reasons for entry on each of the six trades? Apologies if you've posted this somewhere else previously... I understand you're attempting to follow the HTF with a basket of positions but specifically what conditions or patterns told you to enter in those six scenarios, as these don't all look like TMS trades. Whilst the first few seem like continuation positions following the trend on a break of the previous candle(?), the last two, for example are in fact bullish TMS signals...
Hi emmanuel7788, I have a few questions regrading your USDCAD multi-trade post, amazing trading by the way. It seems that you TP every +50 pips and then enter another trade. You also enter at times when you price retraces which is great you are selling high. I have three questions for you. First, why didn't you enter another sell after the first blue candle (retrace candle)? Second, what made you stay in your last batch of sell trades after the 2 consecutive blue candles when the first blue candle was a clear BOUNCE from 1.30000 level? Also, there...
Sorry, one last question. You were short a total of 3 trades simultaneously towards the end. Did you split your trade size there? There is a great wealth of info and knowledge in your charts that the more I can look at them, the more I learn from them.
See attached chart below with more details. Hope these will explain the trades.
Every initial first trade is based on using 0.2% risk for the position size. However, for those who do not want to using this position sizing method, you can consider the other which DM explained in this video. on Position Sizing.
As for the build positions, you can either use the same lot size of you can use the same 0.2% risk and calculate the lot size. there are other simpler way to do this and I will not talk about now.
I exit every trade at every 50pips, that is approx 0.5ADR (100 days) or you can use the H4 ATR. You don't need to accurate. The idea is to take what the market gave you and re-enter. Re-enter at same lot size.
Maximum build position is 4 in addition to the first entry.
This is a money management strategy for TMS 5-Method trading the higher TF.
regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- Post #61,299
- Quote
- Oct 9, 2015 4:02am Oct 9, 2015 4:02am
- Joined Nov 2008 | Status: Member | 30,239 Posts
{quote} I personally have yet to see one especially using the TDI that doesnt refresh. I dont care i would like to see this even on the 1hr and this is something that has to be called out in real time. Thanks buddy i will keep my eyes peeled. After looking at a few of Big Es charts, those entrys seemed flawless almost hindsight lookin...i dunno
Here some recent examples EURAUD H4 Price Action setups
and comparing the TDI Red Green and TDI RT both capture in realtime.
How do you interpret what he said below:
When wanting to enter a TDI trade... take a moment first to observe basic 4x things... like:
How close am I to the previous high or lo
Am I in an uptrend or downtrend.. short & long term...
Am I in or close to a consolidation area
Are the previous candles small...
Look at the candles on the last reversal... big, little, what
How does the momentum look right now (12-2, 4-6)
Does Stoch's confirm the TDI signal
Sounds like a lot of stuff but it's basic stuff and only takes a moment to observe it...
If you don't already know these things... don't trade live yet... www.babypips.com is a good place to learn about the basics of trading 4X.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- Post #61,300
- Quote
- Oct 9, 2015 4:06am Oct 9, 2015 4:06am
- Joined Nov 2008 | Status: Member | 30,239 Posts
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett