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  • #66,121
  • Feb 23, 2016 6:05am Feb 23, 2016 6:05am
Good long entry ?
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  • #66,122
  • Feb 23, 2016 6:08am Feb 23, 2016 6:08am
I took a trade

please, friends, comment.
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  • #66,123
  • Feb 23, 2016 6:50am Feb 23, 2016 6:50am
Long EA on H1 for 50 pips, PCRF reversal trade with divergence
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I Have Learned to Take Some Losses to Make Profits
  • #66,124
  • Feb 23, 2016 6:56am Feb 23, 2016 6:56am
Quoting Trader MT4
Hello, I did not find, what is the function of EMA5 shift3 May I wait when HA cross EMA5 or not? Dan {image}
Hi Dan,
The 5ema is another trade confirmation if it is heading in the direction of your trade. By waiting for price to close above/below the 5ema it means there is momentum and it will help you not trade on small APB.
Never argue with a fool; onlookers may not be able to tell the difference.
  • #66,125
  • Feb 23, 2016 7:28am Feb 23, 2016 7:28am
I closed EURGBP trade with a 13 pips loss.

I just closed another position on AUDUSD with +61.

Any comments?

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It's not over, until I win.
  • #66,126
  • Feb 23, 2016 8:23am Feb 23, 2016 8:23am
[quote=Lookleft;8771637]{quote} Hi Dan, The 5ema is another trade confirmation if it is heading in the direction of your trade. By waiting for price to close above/below the 5ema it means there is momentum and it will help you not trade on small APB.[/quotefe]

Thanks Look

than, it is safe when price cross EMA5.
That means Momentum and momentum has a power

thanks again Lookleft
  • #66,127
  • Feb 23, 2016 9:02am Feb 23, 2016 9:02am
Quoting emmanuel7788
{quote} Hi rupasi, One of Dr Van Tharp's famous statement is: "You do not trade the market. You trade our beliefs about the market". Lets question our beliefs. Our core beliefs as TMS 5-Method traders: We believe TMS is a trend trading methodology. We believe TMS works in every timeframe because there is a trend in every time frame chart and we trade chose to trade the timeframe we are in. We believe in a price swing or trend run 3 to 8 candles. We believe that our entries must be using the APB#1 and APB#2 after a reversals (aggressive entry). We...

Thank you for taking the time to answer this so thoroughly! I appreciate you letting us inside your trading mind. I am working on the mental/emotional part as for me personally, that is the biggest challenge. And building confidence in myself. They TMS methodology is really a no brainer.
  • #66,128
  • Feb 23, 2016 9:03am Feb 23, 2016 9:03am
Quoting TheScorpS
Long EA on H1 for 50 pips, PCRF reversal trade with divergence {image}
thanks TSS, hope to see your posts
  • #66,129
  • Feb 23, 2016 9:43am Feb 23, 2016 9:43am
I have one more ME/ME trade running: EURNZD Sell

Initiated trade on 15/2 with D1 TDI crossing down. In hindsight I'm not entirely happy with this entry. Perhaps this was a bit premature. But there is 2 long wicks + divergence

Initial Entry on 4H based on a breakout of the Inside Bar. Quickly added 2 lots based on ATR distance. Could have added 4th lot on 19/2 but not sure why I did not do this.

Monday moved in our favor. Now added 4th lot and 5th entry order placed at 1.6649.

Avg Entry Price for full position will be 1.6760 which means full 5 lots risking 2.5%. This is more than my 5*0.4% risk per lot. Anyway, if it does turn I will close my position early and not accept loss bigger than 2%.

Best,
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  • #66,130
  • Edited 10:59am Feb 23, 2016 10:43am | Edited 10:59am
AU H4 sell: PB off resistance line, light div, TDI cross. Its counter trend trade, so looking for tight SL
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  • #66,131
  • Feb 23, 2016 10:51am Feb 23, 2016 10:51am
Quoting makron
AU H4 sell: PB off support line, light div, TDI cross. Its counter trend trade, so looking for tight SL {image}
I saw this one and looks pretty good I think. My chart shows a BEEB with TDI cross also but keep TP small! Risks 0.72 BRN and Prev structure like you said

Best,
  • #66,132
  • Feb 23, 2016 11:39am Feb 23, 2016 11:39am
EURCAD buy today for 100 pips! set the stop loss 3 candles back, take profit at 100 pips, (actually 100 pips this time, i had my coffee today!) went about my daily routine and when i got home..!! I was in the green!! I am concentrating on the basic rules right now, 15 out of 17 have been winning trades,
  • #66,133
  • Feb 23, 2016 12:01pm Feb 23, 2016 12:01pm
Quoting stefan17
{quote} Everything bud you obviously missing the big picture
TDI and apb?? bud.
  • #66,134
  • Feb 23, 2016 2:10pm Feb 23, 2016 2:10pm
My D1 candle closes in 1 hour. I'm seeing an interesting cross on EURGBP.

Entry would be #3 but we break Previous week Inside bar. Is this a possible continuation trade?

How do we best manage this position? Can we build ME/ME in this case or is this best treated as a breakout trade with SL 2-candles lookback?

Thoughts welcome!

Best,
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  • #66,135
  • Feb 23, 2016 4:21pm Feb 23, 2016 4:21pm
Quoting TheScorpS
Long EA on H1 for 50 pips, PCRF reversal trade with divergence {image}
Hi TheScorpS
I was with you but I took profit(47pips) earlier coz I was going to bed and since it's was a counter trend trade.
My entry analyze
1. Daily chart pinbar at 200ema with quite many down bars it was going to be some correction for sure.
2. 1hr PCRF reversal signal with TDI crossed. I was not good at divergence and I think I'm going to put divergence in my tool box

Best regards,
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  • #66,136
  • Feb 23, 2016 4:23pm Feb 23, 2016 4:23pm
Quoting tibovwh
My D1 candle closes in 1 hour. I'm seeing an interesting cross on EURGBP. Entry would be #3 but we break Previous week Inside bar. Is this a possible continuation trade? How do we best manage this position? Can we build ME/ME in this case or is this best treated as a breakout trade with SL 2-candles lookback? Thoughts welcome! Best, {image}
ypu missed the Day Inside Bar breakout yesterday.

EURGBP has been in the Buy RUN phase since last month.

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just like USDJPY was in Sell RUN phase
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #66,137
  • Feb 23, 2016 4:28pm Feb 23, 2016 4:28pm
Quoting pete.alfa
{quote} Hi TheScorpS I was with you but I took profit(47pips) earlier coz I was going to bed and since it's was a counter trend trade. My entry analyze 1. Daily chart pinbar at 200ema with quite many down bars it was going to be some correction for sure. 2. 1hr PCRF reversal signal with TDI crossed. I was not good at divergence and I think I'm going to put divergence in my tool box Best regards, {image}

Hi Pete,

Good post sharing and explaining what you see and its all the thinking process which is very important.
Just few rules and simple ones too. We see such Price Action setups over and over again as in X-Man's H1 thread.

Thanks for sharing this.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #66,138
  • Feb 23, 2016 4:41pm Feb 23, 2016 4:41pm
Quoting TheScorpS
Long EA on H1 for 50 pips, PCRF reversal trade with divergence {image}

hi TSS,

good trade.

maybe if we add TDI cross above MBL would help many H1 traders to pick good trade setup.... more winners.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #66,139
  • Feb 23, 2016 5:04pm Feb 23, 2016 5:04pm
Quoting emmanuel7788
{quote} Hi Dan, I think you did not get the ME/ME concept right. See these recent posts: http://www.forexfactory.com/showthre...78#post8751578 http://www.forexfactory.com/showthre...99#post8761299 One of the rule is..."take what the market gave and give little back". When the market move in our favour, take the profit and re-enter again so long as there is no invalidation of the trade setup. We are using 0.5ADR distance to add-on trades with small lots size which we calculate using 0.2% risk and the ADR(100)....
Hi Emmanuel

I just want to clear my doubt about this ME entry basket of EURAUD, SL is 400 pips and TP is 100 pips from average entry price does it mean in this basket at this point, Risk revard is 4:1 ?

It looks hard stop loss Price point will change as we add postions on retrachment. stop loss price point will be recalculated to 400 pips from average entry price and TP will also recalculated from revised entry price. Will Risk reward will remain same 4:1 in this basket.

Thanks

MK
  • #66,140
  • Feb 23, 2016 5:44pm Feb 23, 2016 5:44pm
Quoting mkfx
{quote} Hi Emmanuel I just want to clear my doubt about this ME entry basket of EURAUD, SL is 400 pips and TP is 100 pips from average entry price does it mean in this basket at this point, Risk revard is 4:1 ? It looks hard stop loss Price point will change as we add postions on retrachment. stop loss price point will be recalculated to 400 pips from average entry price and TP will also recalculated from revised entry price. Will Risk reward will remain same 4:1 in this basket. Thanks MK

Hi mkfx,

the best way to learn this is to open a demo account of $50k and start doing demo trades. You will learn this much quicker and also learn many things which are not asked and answered here.

have you thought of equity protection instead of stop loss on charts?

you will find answers (pieces of puzzle) in these post:

http://www.forexfactory.com/showthre...74#post8761774
http://www.forexfactory.com/showthre...80#post8752480
http://www.forexfactory.com/showthre...75#post8749375
http://www.forexfactory.com/showthre...60#post8747560
http://www.forexfactory.com/showthre...69#post8743069
http://www.forexfactory.com/showthre...71#post5852071

and this ancient wisdom post:

http://www.forexfactory.com/showthre...78#post8614378

Multiple Entries / Multiple Exits is a money management strategy which help us to be in the market at the right time and take money out of the market. We don't need to be in the market all time. Make your money work for you. You don't have to work so hard for your money.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
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