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Trading Made Simple

  • #65,281
  • Feb 1, 2016 5:46am Feb 1, 2016 5:46am
Quoting Bushy
... emmanuel, you have so much patience, but more than that you put so much effort into helping others, obviously I don't know you peronally, but I see signs of a very good man indeed, indeed. You must have a barrow full of karma chips as well as pips

I definitely second that
  • #65,282
  • Feb 1, 2016 6:46am Feb 1, 2016 6:46am
well, i did my first trade ever last night -- demo, sadly -- and it was a small success, happily. did it on the two hour e/u. in 1.0840, out at 1.0870, 30 pips to the good, using TP while i slept. took the trade based on extreme low TDI reading, along w/ green/red crossover. that first green candle was not ideal -- too much wick, too little body -- but at least the upper wick was larger than the lower. also, it looked to me like the last red candle had made a lower low, so maybe a change was in order.
can anyone confirm this analysis for me? would you have taken the trade? i'm just trying to learn.
thanks!
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  • #65,283
  • Feb 1, 2016 7:17am Feb 1, 2016 7:17am
Quoting floydd
well, i did my first trade ever last night -- demo, sadly -- and it was a small success, happily. did it on the two hour e/u. in 1.0840, out at 1.0870, 30 pips to the good, using TP while i slept. took the trade based on extreme low TDI reading, along w/ green/red crossover. that first green candle was not ideal -- too much wick, too little body -- but at least the upper wick was larger than the lower. also, it looked to me like the last red candle had made a lower low, so maybe a change was in order. can anyone confirm this analysis for me? would...
Hi floydd, as a total newbie myself I would not have taken the trade, assuming you went long at the red vertical line. The reason is that price closed way below the EMA. Also, the TMS crossing is not very steep. But again, I am a noob at trading let alone TMS, and with 30 pips in the pocket I would probably be dancing and treat myself a beer.
  • #65,284
  • Feb 1, 2016 7:20am Feb 1, 2016 7:20am
Quoting floydd
well, i did my first trade ever last night -- demo, sadly -- and it was a small success, happily. did it on the two hour e/u. in 1.0840, out at 1.0870, 30 pips to the good, using TP while i slept. took the trade based on extreme low TDI reading, along w/ green/red crossover. that first green candle was not ideal -- too much wick, too little body -- but at least the upper wick was larger than the lower. also, it looked to me like the last red candle had made a lower low, so maybe a change was in order. can anyone confirm this analysis for me? would...
Candles too small.
  • #65,285
  • Feb 1, 2016 7:34am Feb 1, 2016 7:34am
The biggest problem I have encountered with my trading of TMS is that I cut trades short when I see I am losing when I wake up at 4am CST. I was in the same trades as others,but I don't know how to let a trade run. Maybe I'm too rigid as BigE had said. I would like to know what you are looking at in your chart I'm not seeing.I will have to start posting charts for all to see what I'm saying. Shit, I think I just figured it out, maybe, just by typing this post. I haven't been watching the TDI for exits, Duh. Sorry for the answering of my own dumb question, now I see how me/me works. It pulled back this morning, the USD/CHF and I exited and if I would have added another position on the pullback and stayed in the trade I might be OK.
  • #65,286
  • Feb 1, 2016 7:51am Feb 1, 2016 7:51am
I don't have any time to post any charts but the USDCHF and USDCAD h1, h2, or h4 have price action testing a support level. Potential longs.
  • #65,287
  • Feb 1, 2016 7:53am Feb 1, 2016 7:53am
Quoting Tman72
The biggest problem I have encountered with my trading of TMS is that I cut trades short when I see I am losing when I wake up at 4am CST. I was in the same trades as others,but I don't know how to let a trade run. Maybe I'm too rigid as BigE had said. I would like to know what you are looking at in your chart I'm not seeing.I will have to start posting charts for all to see what I'm saying. Shit, I think I just figured it out, maybe, just by typing this post. I haven't been watching the TDI for exits, Duh. Sorry for the answering of my own dumb...
I have exactly the opposite problem, I stay in too long.
  • #65,288
  • Feb 1, 2016 8:07am Feb 1, 2016 8:07am
Plan your trade and trade your plan , EA long after LO sets the low of the day for +50 pips
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I Have Learned to Take Some Losses to Make Profits
  • #65,289
  • Feb 1, 2016 8:09am Feb 1, 2016 8:09am
Quoting Bardy
I don't have any time to post any charts but the USDCHF and USDCAD h1, h2, or h4 have price action testing a support level. Potential longs.
I entered EUR/USD long, just to oposite of USDCHF,

4H last candle was the enter.

what do you think about the trade
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  • #65,290
  • Edited 9:04am Feb 1, 2016 8:12am | Edited 9:04am
Quoting Bushy
{quote} Candles too small.
really? if you look at meihk's recent training chart (http://www.forexfactory.com/attachme...6&d=1454254829) several of his set ups show candles that are no bigger.

batvia: there's been some discussion recently about the 5-period MA. some folks don't use it at all. and i believe even Big E said a cross over wasn't always necessary to confirm a trade (see post 718). then again, that HA candle is pretty far away from it, so you might be right. as to the angle of the TDI, i agree with you, but nothing is ever going to be one-hundred-percent perfect, and given that we were coming out of a period of over-sold consolidation, it seemed worth the risk. plus, i was able to put my TP level right at about a fib 33% retracement of the decline. that was my thinking at the time, rightly or wrongly. worked this time, but it could just as easily gone the other way, i am sure.
  • #65,291
  • Feb 1, 2016 8:15am Feb 1, 2016 8:15am
Quoting omri89
{quote} I entered EUR/USD long, just to oposite of USDCHF, 4H last candle was the enter.
Likewise
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  • #65,292
  • Feb 1, 2016 9:18am Feb 1, 2016 9:18am
here's a point of confusion for me. in post 1199 (and elsewhere), Big E says re 4h charts, that he looks for set ups at 10pm his time and 2 am his time and exits all trades at 6am his time. so, on any given day, he has two possibilities to enter and is looking to stay in for only two HA candles (if entry is at 10pm) or one HA candle (entry at 2 am), because he says he exits all 4h trades at 6am. am i reading this right?
  • #65,293
  • Feb 1, 2016 9:25am Feb 1, 2016 9:25am
Quoting floydd
here's a point of confusion for me. in post 1199 (and elsewhere), Big E says re 4h charts, that he looks for set ups at 10pm his time and 2 am his time and exits all trades at 6am his time. so, on any given day, he has two possibilities to enter and is looking to stay in for only two HA candles (if entry is at 10pm) or one HA candle (entry at 2 am), because he says he exits all 4h trades at 6am. am i reading this right?
He also said that it would run 3-8 candles also I believe what he meant is if it still was doing good he could pop on the 1 hour charts for the first few hours of the NYO.
  • #65,294
  • Feb 1, 2016 9:36am Feb 1, 2016 9:36am
Quoting floydd
{quote} really? if you look at meihk's recent training chart (http://www.forexfactory.com/attachme...6&d=1454254829) several of his set ups show candles that are no bigger.
Good comment, made me have a good think that, meihk's chart looks great, couldn't understand it though, looks like he does very well.

It is comparing a 1hr chart with a 4hr chart, but I think the key thing here is, if you have small candles in consolidation, maybe 8 or more candles say around the same price then it's a no go, but meihks chart has small candles but they are in a trend.

On the checklist it would be
7. check candle strength/size-if small stay away vs 10.check market is trending not consolidating - check larger time frames to determine trend
  • #65,295
  • Feb 1, 2016 9:43am Feb 1, 2016 9:43am
Quoting MaxZen
{quote} Likewise {image}
Was hesitant taking the trade. Its volatility is near to the daily's ADR. Unless this trade is a swing trade. I would close if its a day trade.
  • #65,296
  • Feb 1, 2016 9:47am Feb 1, 2016 9:47am
Quoting Javforex
{quote} Was hesitant taking the trade. Its volatility is near to the daily's ADR. Unless this trade is a swing trade. I would close if its a day trade.
not a daytrade, 4H, predict its near the resistance now, so i will close it soon.
  • #65,297
  • Feb 1, 2016 9:49am Feb 1, 2016 9:49am
Quoting Javforex
{quote} Was hesitant taking the trade. Its volatility is near to the daily's ADR. Unless this trade is a swing trade. I would close if its a day trade.
It was at around 55% ADR when I entered so still room to move. TP1 closed at 30p and letting the the second half run with TP currently at BE.
  • #65,298
  • Feb 1, 2016 10:47am Feb 1, 2016 10:47am
GBPAUD H1:80 pips
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  • #65,299
  • Feb 1, 2016 11:11am Feb 1, 2016 11:11am
Is this long correct?? H4
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  • #65,300
  • Feb 1, 2016 11:19am Feb 1, 2016 11:19am
Quoting mortezakh
Is this long correct?? H4{image}
No. One of the principle rules is that you should enter on the close of the first or second (colour change) candle. You are entering on a later candle (4th or 5th depending on if we are looking at the red vertical line or arrow)
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