Trading Made Simple

Hey, I'm going to be trying this strat for the next couple of weeks, was wondering if there was a skype group or something like that for chat ?

Couple of trades I took earlier on UCAD and UCHF below, welcome any comments on the trades 1-1 so far and i've got trades currently on UJ and GJ.


(on a demo account right now)
Thanks,
Ben

ok I need some help I work full time from 7am till 3pm uk time the 1 hour isn't suitable for me as I miss entries or I am busy to observe charts what can I do on the 4hr to help me make trades so that I can continue working stress free

you can trade the D1 chart TF and at any time during the day when you have access to your trading platform, you make your market entry without looking at H4 chart.
This should be simple enough only after you have done your top down analysis and have decided whether you want to be buyer or seller.
The questions you must answer is what is your entry price EP, your initial stop loss SL Exit and where will be your target profits Exits. The you need to decide when you want to move your SL to reduce your initial risk R.

there are not many entries often enough on the daily I think 4hr would be suitable for me

that is a valid Sell H4 setup with the PA insdie bar breakout setup from the 50EMA and the BRN 132.00.
the risk of this trade is where will you place your initial and how you move that. Too tight SL mean you may not survive any strike to 132.15.

but something need to happen before the next big move.
I will be back into this one in Jan 2016.

Hello Emmanuel hope you are enjoying your holiday, I have read most of your posts on this thread, you are a great trader no doubt, I have notice you have quite a high success in Counter Trend Trades, can you give me some tips on Counter trading, what rules and checklists do you follow? Thanks[/quote]

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there is a trend in every timeframe.
a counter trend seen in lower timeframe is different in the higher tiemframe.



what is more important is know know if the market is trending or if it is sideways wide range or narrow range.

The right decision. You know who a trader's friend is. Cherish that friendship.

Thank you Stefan. Will try it out. Cheers

Just be careful. EJ is in a triangle. Plus, it is at the support. You want to see trend, then retracement, then signal to enter when the move in the direction of the trend resumes, and you need to see space between the entry point and the last swing or S/R area, so that you can have a good R:R.

Seem to be static.

It might be just a retracement to the next resistance (blue). If it breaks that resistance, we're in a valid uptrend, until it hits the next resistance (black) or inner trendline (red), and then drop back down. It might wiggle a little between those levels, and have some bounces/retests before coming down on red and black scenarios. I'd like to see the blue scenario. I like the dollar so much! I want it strong. But too much thinking in the future. Let's see what the present has to say.

there is a trend in every timeframe. a counter trend seen in lower timeframe is different in the higher tiemframe. {image} what is more important is know know if the market is trending or if it is sideways wide range or narrow range.[/quote]

Thanks Emmanuel, so if I understand right, for example I want to counter trade a uptrend in the 1hr Tf, I must look on the 30 min and 15 min to see that is not in congestion and trending down.

Its because you havent take of the bars of your chart, or the line chart, if its on line chart make the line chart black(none).

Hi, what i'm doing wrong here?
is it just change of trend? I follow the rule given, any advice is appreciate, thank you so much

Guys, I hope your trading went well today. I didn't do any trading so far, because I was not at my PC. But I see there were some opportunities. I'll post charts soon. And I'll also post my 2 losing trades taken last night on H4. Currently, I am having success with H1. Hopefully, with more practice, H4 will follow.

Hi See my viewpoint below

This is a trade I would have taken if I were at my PC. It has everything I want to see. Look at the guppies... They are up and spreading apart... Uptrend. Series of HHs and HLs on PA... Uptrend. So once I know the pair is trending up, I just need a reason to buy.

I want to enter after a retracement, to buy cheap. So I see a series of red APBs. Retracement in progress. I then see that the last red APB is smaller, then a blue APB shows up, very small, with red wicks. It is a spinning top, which shows indecision, therefore I know chances are that the upward movement is about to resume. I wait for my reason to enter. A new APB opens, and I am waiting for it to close. It closes as the candle marked with the arrow. That's my EP (entry point). Why? Well, just look at that candle. It's a handsome blue fellow, isn't it? Look, it closed with no wick under, has a decent size body, has a wick on top, and it closed above the PAC.

Then I immediately go take a look at the TDI and see that the cross happened with a favorable angle. I can even add more confluence, and see that there is hidden divergence and APBs bounced up off of my TL. More reasons for bulls to take over. Everything so far is screaming: "buy, buy, buy!" So I enter as soon as my candle closes, put my SL under the PAC (or swing low, whichever you feel more comfortable with), and my TP at the swing high (conservative). 16 pips SL and 24 TP. Or I can use fibs extensions for targets. Or 1:1 R:R, if I want to be more conservative. But in this example (and most of the times) I would have chosen the swing as TP, and PAC as SL.

When trade progresses, and I am near my target, I will take a look at the APBs. Do they show strength? If they do, then I secure my profits, by moving SL to 12 pips profit and my TP further up, and let the APBs break the swing high. My new target would be near the green short line plotted by the ADR, which is the ADR high, but you cannot see it in this chart, because it is a little higher. The green short line would have been my aggressive type of TP, if I chose it instead of the swing. And I would have trailed the profits until PA reached ADR high. This is how I would have taken and managed this trade if I were in front of my PC.

As you can tell, this would have been a loss if I stayed in the trade, because of my option to use PAC for SL and not the swing low. But if you are someone who prefers swings for SL, you would still be in the trade, or at least BE. I said " this would have been a loss if I stayed in the trade", because news were coming and I would have closed it manually with a few pips profit, or at BE. It's not a good idea to be caught on a trade when important news are coming, as we all know.

That's basically how I look to trade and what I am looking for when I want to enter a trade. I am looking for all the pieces of the puzzle to fit together.

I hope this was helpful to someone.

I'll post my losing H4 trades later, as I have some errands to run.

Have a great day, guys!

This has also hit daily R2 support plus 1h 200 ema and bounced off.