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Trading Made Simple

  • #64,321
  • Jan 4, 2016 12:26pm Jan 4, 2016 12:26pm
Hello, folks! I hope you all had a nice party on New Year's Eve. I started warming up my engines today, and got 129 pips.

UC, M15, long, losing trade:
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EN, M15, long, losing trade:
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AJ, M15, short, BE trade.
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GJ, M15, two trades, both short, one loss of 16 pips, one win of 46 pips.
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NU, M15, two trades, both short, one loss (9 pips), one win (20 pips):
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EA, M15, long, losing trade:
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UJ, M15, short, losing trade:
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EJ, M15, two trades, both short, both winners:
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USDCHF, H1, long, winning trade:
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GU, H1, short, winning trade:
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I hope your day went well, too. Many green pips to everyone!
  • #64,322
  • Edited 2:33pm Jan 4, 2016 2:19pm | Edited 2:33pm
T1 .1. Update:
PA rose another 3.7 pips then began its descent to a low of 39 pips. Had I of stayed in the trade I would have not reached my TP1 but would have set SL to BE at 20 pips.

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T1.2 +28.75
I entered this GU trade a little late I missed the open of the bar so set order at low of previous bar (2) which gave away 8.7 pips (from open of bar). TP1 and SL set at 40 pips. TP1 came in quickly so let the other half run. My ea closed trade on cross of 5ma which was slightly less than TP at 37.5 pips. (40+37.5)/2= +38.75 pips
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T1.3 + 53.75
The Dollar coming back after NYO. A UJ trade with TDI cross near OS levels and with good angle (I think?). TP1 and SL at 40 pips but I closed half at +28 after a halt of PA. Second half closed at 22 pips by EA at cross of 5ma.
(28+22)/2 = +25 pips
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Cr@p.... I'm clearly still learning how to post images in context with narrative..
  • #64,323
  • Jan 4, 2016 5:01pm Jan 4, 2016 5:01pm
Best wishes all and good and safe trading in 2016 !
  • #64,324
  • Jan 4, 2016 7:19pm Jan 4, 2016 7:19pm
Quoting Donquixote
{quote} whats the difference between dblhc and bulish engfull?
Hi,

The difference is the DBLHC must have both bars with the same Low.
This makes these bar patterns - DBLHC and DBHLC rare these days because very seldom we see two price bars with precise same Low or same High especially when we have fractional pips pricing 3 and 5 decimals. This is one reason technical pattern indicators will show very few DBHLC/DBLHC. There is s solution ...

The more common price bar patterns are the BUEB,BEEB, BUOB and BEOB.

DBHLC=Double Bar High Lower Close
DBLHC=Double Bar Low Higher Close
BUEB=Bullish Engulfing Bar
BEEB=Bearish Engulfing Bar
BUOB=Bullish Outside Bar
BEOB=Bearish Outside Bar

Note, there are hundreds of price bar patterns and we keep it simple and use only the few which appear more often on our trading charts. Anything more than our ten fingers can count is too many.

PASR=Price Action Support and Resistance
Start with this Post# 53,670 learn from the best PASR professional trader here in FF. Follow his free education THE PATH.

Also read all posts in this thread where PASR is mentioned.

regards,

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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #64,325
  • Jan 4, 2016 7:33pm Jan 4, 2016 7:33pm
Quoting emmanuel7788
{quote} Market just re-open after the 2 weeks of rather low liquidity. I will not trade this week but will follow the developments closely. Jan 2016 is a month which we should listen to the fundamentals as most corporation would have known their last year's performance results and also the big economies will know have their GDP data. We should wait and see how the various markets will react to the 2015 GDP data. EURUSD MN has been sideways since March 2015. With 3 major historical price swing levels in play, it can go either way this new month....

EURUSD 5-Jan update:

The market is in chaos as you may have already read what happened in the Chinese stock market yesterday. Things won't get any better with lower PMI data. the other world events in other regions is not going to be resolve so soon. Expect more volatility in the market and as usual the safe haven currency is the better choice for short term direction rally. Also not forget the precious metal - XAU.

If you sold EU yesterday, where did you place your initial SL?

Looking at yesterday's big D1 candle with long wicks at both ends, it is uncertain where to go except sideways, but will that we sideways UP or sideways DOWN?

You should know what to do after we have a 'big candle'.

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Trade Well and Trade Safe.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #64,326
  • Jan 4, 2016 8:29pm Jan 4, 2016 8:29pm
Quoting emmanuel7788
{quote} EURUSD 5-Jan update: The market is in chaos as you may have already read what happened in the Chinese stock market yesterday. Things won't get any better with lower PMI data. the other world events in other regions is not going to be resolve so soon. Expect more volatility in the market and as usual the safe haven currency is the better choice for short term direction rally. Also not forget the precious metal - XAU. If you sold EU yesterday, where did you place your initial SL? Looking at yesterday's big D1 candle with long wicks at both...
Thanks for the analysis.

If I were to sell EU yesterday, I'll be placing my SL on the monthly resistance, which is also last week high.

And yes, almost all the pairs have WRB forming.... Lets just wait patiently for Breakout.
  • #64,327
  • Jan 4, 2016 8:54pm Jan 4, 2016 8:54pm
Quoting pips29
just taken +40 for 1 position. I am leaving the other two for lower...time for bed {image}
another position hit target for +96 moving stop to b/e+ for last position with a target way below...let's see....Presently, my a/y trade is showing +55
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the cautious seldom err....C
  • #64,328
  • Jan 4, 2016 9:02pm Jan 4, 2016 9:02pm
Quoting kumetto
{quote} Nice butterflies
I slept soundly..thank you and a very good morning to you . I see you are ripping them pips too
the cautious seldom err....C
  • #64,329
  • Jan 4, 2016 9:05pm Jan 4, 2016 9:05pm
My first 2 trades for the year 2016:
January 4,2016

11 AM (GMT +8)
WEAK Currency: Gbp

EurGbp: Buy @ 0.73842 WIN +15 pips

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WHY?
Weak GBP
Away from 200 EMA
Away from DOL
Previous APB closed above PAC
TDI crossed above MBL

TP set to 15 pips near ADR High
SL set to 30 pips Last Swing Low and near ADR Low

=====================

GbpChf: Sell @ 1.47088 WIN +20 pips

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WHY?
Weak GBP
Away from 200 EMA
Away from DOL
Previous APB closed below PAC
TDI bounced below MBL

TP set to 20 pips near ADR Low
SL set to 40 pips Last Swing High

=====================


PS Thanks pips29 for your CSM.
  • #64,330
  • Jan 4, 2016 9:09pm Jan 4, 2016 9:09pm
glad you are using the indicator and your trades are beautifully executed ( more than 90% chance win)
the cautious seldom err....C
  • #64,331
  • Jan 4, 2016 9:57pm Jan 4, 2016 9:57pm
Looking at the 4 hr chart of g/y I see buying interest. On the daily/weekly you will notice an area of R/S...I am tempted to go long but I think I will wait awhile longer to get a clearer picture..just my 2 cents
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the cautious seldom err....C
  • #64,332
  • Jan 4, 2016 10:22pm Jan 4, 2016 10:22pm
I was wondering if there are any active TMS traders in the Sydney area?
  • #64,333
  • Jan 4, 2016 11:47pm Jan 4, 2016 11:47pm
My 2 trades for yesterday EUR/GBP = 48 Pips Profit and EUR/USD = 30 Pips Profit = 78 Pips for the day
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  • #64,334
  • Jan 5, 2016 12:49am Jan 5, 2016 12:49am
Quoting emmanuel7788
{quote} EURUSD 5-Jan update: The market is in chaos as you may have already read what happened in the Chinese stock market yesterday. Things won't get any better with lower PMI data. the other world events in other regions is not going to be resolve so soon. Expect more volatility in the market and as usual the safe haven currency is the better choice for short term direction rally. Also not forget the precious metal - XAU. If you sold EU yesterday, where did you place your initial SL? Looking at yesterday's big D1 candle with long wicks at both...
use its high low as sup/res right?
Take What You Can , Give Nothing Back
  • #64,335
  • Jan 5, 2016 12:56am Jan 5, 2016 12:56am
stopped out on both while I was away for lunch...back to trading now
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the cautious seldom err....C
  • #64,336
  • Jan 5, 2016 2:57am Jan 5, 2016 2:57am
I'm trading on the 1 hour during the London open, anyone else trade this, and to any success?
  • #64,337
  • Jan 5, 2016 2:58am Jan 5, 2016 2:58am
First catch of the day:

GU, H1, short, 32 pips gained.
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  • #64,338
  • Jan 5, 2016 3:14am Jan 5, 2016 3:14am
Quoting catalin_eros
First catch of the day: GU, H1, short, 32 pips gained. {image}
Good Exit, I'm still in
  • #64,339
  • Jan 5, 2016 3:14am Jan 5, 2016 3:14am
Quoting pulubi28
My first 2 trades for the year 2016: January 4,2016 11 AM (GMT +8) WEAK Currency: Gbp EurGbp: Buy @ 0.73842 WIN +15 pips {image} WHY? Weak GBP Away from 200 EMA Away from DOL Previous APB closed above PAC TDI crossed above MBL TP set to 15 pips near ADR High SL set to 30 pips Last Swing Low and near ADR Low ===================== GbpChf: Sell @ 1.47088 WIN +20 pips {image} WHY? Weak GBP Away from 200 EMA Away from DOL Previous APB closed below PAC TDI bounced below MBL TP set to 20 pips near ADR Low SL set to 40 pips Last Swing High =====================...
Nice trades!

But you should try to have a R:R of at least 1:1, and advisable 1:2 or 1:3. A SL of 30 pips and a TP of 15 pips may not work out in the long run. But the other way around will. Look at my trades from yesterday. I had a pretty number of losses, but I ended the day with 129 pips profit (I am talking only about the TMS trades, cause I do take other trades using other strategies, too). So only from TMS I gained 129 pips, 6 losers, 6 winners, and a BE. Imagine 6 losers with 30 pips, and 6 winners with 15 pips. I would have been in a loss for the day.

You're doing pretty well for a newbie, so keep it up!
  • #64,340
  • Jan 5, 2016 3:18am Jan 5, 2016 3:18am
And a loss, cause I rushed in to push the trigger, based on the HD seen on H4 on GA. So I went short on M15. I should have waited for a close under the PAC on H4 first, and only afterwards switch to M15 and look for an entry. 51 pips lost.
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