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Trading Made Simple

  • #66,461
  • Mar 3, 2016 5:18am Mar 3, 2016 5:18am
Quoting Trader MT4
Hello friends, I have a suggest. Please attach here your every Picture with Entry position, not only positive closed pictures. With Entry pictures we get a many comments. Like my picture {image}

here my GBPJPY D chart ME/ME trades closed some and have some running since Tokyo open today.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPY MEME trades 3 Mar.png Size: 30 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #66,462
  • Mar 3, 2016 6:18am Mar 3, 2016 6:18am
Quoting emmanuel7788
{quote} here my GBPJPY D chart ME/ME trades closed some and have some running since Tokyo open today. {image}

can you explain why you made the trades a few candles later then TDI cross and bounce.

is it purely based on the tokio open, because is see no R broken or someting.

thanks
  • #66,463
  • Mar 3, 2016 6:33am Mar 3, 2016 6:33am
Quoting emmanuel7788
{quote} here my GBPJPY D chart ME/ME trades closed some and have some running since Tokyo open today. {image}
Hi Emmanuel,

Thx for the chart!

Could you talk a bit about your SL placement in this chart?

It seems to be around 250 pips away from your Avg EP? Is this based on an ATR Multiple?

Best,
  • #66,464
  • Mar 3, 2016 6:39am Mar 3, 2016 6:39am
Quoting Trader MT4
Hello friends, I have a suggest. Please attach here your every Picture with Entry position, not only positive closed pictures. With Entry pictures we get a many comments. Like my picture {image}
Made two entries today at LO, Sell for GA hoping it will follow yesterdays D1 bearish candle, and Buy on EU after two days D1 Double bottom pin bars. Both Entered on H1 with TDI cross confirmation.
Attached Image (click to enlarge)
Click to Enlarge Name: EU GA.png Size: 60 KB
  • #66,465
  • Mar 3, 2016 6:48am Mar 3, 2016 6:48am
Quoting emmanuel7788
{quote} you are trading inside the consolidation range...Master Candle[3] + TDI Green went outside the VB, then re-enters the VB, and that MC[3]... it may breakout to the upside, but we don't know that. {image} if you follow the Monthly, you may be good...
Clearly the MN is up. I spotted historical resistance however and W1 Seems to be forming a pattern that we would call a Reversal Pattern (which is the BEEB). So, I had expected you to become hesitant to go long further in this pair?

Am I too early and anticipating things or am I missing something?

Best,
Attached Image (click to enlarge)
Click to Enlarge Name: Schermafdruk 2016-03-03 13.24.20.png Size: 260 KB
  • #66,466
  • Mar 3, 2016 6:51am Mar 3, 2016 6:51am
Quoting emmanuel7788
{quote} here my GBPJPY D chart ME/ME trades closed some and have some running since Tokyo open today. {image}
Big Emm, on your GJ chart the SL is not under the last 2 D1 candles low, as you taught us. Not even 1 D1 candle low.May I know how you calculated that SL, please?

Another thing I am trying to understand is this: the W1 and MN are bearish. Why did you go with the bulls, if you are using MTF method? I would understand the buy setup if you only looked at the D1, and not at the HTFs.

As always, thanks in advance for the answers!
  • #66,467
  • Mar 3, 2016 7:00am Mar 3, 2016 7:00am
Quoting ruben7222
{quote} can you explain why you made the trades a few candles later then TDI cross and bounce. is it purely based on the tokio open, because is see no R broken or someting. thanks
Hi Ruben,

This particular TDI Cross is not a TMS-5 Setup.

Tuesday there was a "Bounce" setup with APB#1. This would be agressive but supported by the Bullish Engulfing bar

Wednesday APB#2 crosses EMA. This would be conservative I think.

If you look closely you could draw a trendline that was broken on Tuesday.

I hope Emmanuel can correct me if I am wrong.

Best,
  • #66,468
  • Mar 3, 2016 7:06am Mar 3, 2016 7:06am
Quoting tibovwh
{quote} Hi Emmanuel, Thx for the chart! Could you talk a bit about your SL placement in this chart? It seems to be around 250 pips away from your Avg EP? Is this based on an ATR Multiple? Best,

Quoting catalin_eros
{quote} Big Emm, on your GJ chart the SL is not under the last 2 D1 candles low, as you taught us. Not even 1 D1 candle low.May I know how you calculated that SL, please? Another thing I am trying to understand is this: the W1 and MN are bearish. Why did you go with the bulls, if you are using MTF method? I would understand the buy setup if you only looked at the D1, and not at the HTFs. As always, thanks in advance for the answers!

initial entry during Tokyo session

EP160.017

SL 158.521 below previous Day low.

I did not use 2 days look back as the PA was DBLHC + BUEB (day chart)
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #66,469
  • Mar 3, 2016 7:11am Mar 3, 2016 7:11am
Quoting ruben7222
{quote} can you explain why you made the trades a few candles later then TDI cross and bounce. is it purely based on the tokio open, because is see no R broken or someting. thanks

it is based on day chart PA setup (DBLHC +BUEB) with TDI cross confirmation.
the setup candle was Tuesday Day candle which close above the 5EMA.
i did not trade on Monday and Tuesday as I waited for my broker to migrate my account to a new server.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #66,470
  • Mar 3, 2016 7:12am Mar 3, 2016 7:12am
Quoting tibovwh
{quote} Clearly the MN is up. I spotted historical resistance however and W1 Seems to be forming a pattern that we would call a Reversal Pattern (which is the BEEB). So, I had expected you to become hesitant to go long further in this pair? Am I too early and anticipating things or am I missing something? Best, {image}

Weekly chart will tell the other part of the story.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #66,471
  • Mar 3, 2016 7:26am Mar 3, 2016 7:26am
For all who doesnt know, ore dont have the right workinghours to trade H4.

Theres a TMS Daily Thread. With meanwhile origin TMS-Trading.

Take this!
http://www.forexfactory.com/showthre...34035&page=117

best wishes

candle
"Repetition is the mother of skill"
  • #66,472
  • Mar 3, 2016 8:03am Mar 3, 2016 8:03am
thanks for answering.



a nice GBPUSD sell opportunity on lower TF or not?
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDH1 nice shorting oppurtunity.png Size: 22 KB
  • #66,473
  • Mar 3, 2016 8:20am Mar 3, 2016 8:20am
Hi guys,

What are the advantages/disadvantages of having the normal candle bars and APB or Heiken Ashi type candle bars?
Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 8 KB
Since Frank Sinatra sings in his own way, my chart sing... I did it, my way
  • #66,474
  • Mar 3, 2016 8:28am Mar 3, 2016 8:28am
hello,

another question for you guys.

does somebody knows, what is wrong with this trade?

i entered on the close by the bar with the arror/red vertical line.

exited when i realised that it was a WRB

thanks in advance
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDH1 what is wrong with this trade.png Size: 67 KB
  • #66,475
  • Mar 3, 2016 9:17am Mar 3, 2016 9:17am
Quoting emmanuel7788
{quote} do you know of or used another approach to do top down analysis instead of the way I do Big Picture Plan? if you do, what is the outcome of doing your own top down analysis. does your top down analysis give you a clear view of the market and what to look for to trade. does your top down analysis help you identify support and resistance to be use in the new trading week. what other information does your top down analysis provide you. the best forward is to learn by doing and not just reading and reading. you pick one currency pair and I will...

Hi Emmanuel,

Thank you for the reply. I appreciate it a lot.

As a newbie, my approach is just very naive.. I am embarrassed to show it and it doesn't seem to work in so many occasions.

Weekly: bias derived from CSP from historical monthly swing level; often there is no CSP, then just assume continuation next week
Daily: look for the CSP of the past two days, also look for TDI cross

I often got weekly/daily bias completely wrong, more so on the weekly..... Often, I see a weekly hammer off a level, ok, I am thinking sell bias. But next week it just goes completely against me..

You are a much better trader than me. That's why I am spending a lot of time to learn from you. If I just use my own approaches to top down analysis, I find it hard to succeed, it works sometimes, but other times it fails, no consistency there... I didn't just read the BPP pdfs, I also went back to the thread where the BPP was posted, just to see any subsequent updates. But still I found it confusing and difficult to see the connection between the trades taken and the BPP itself. I guess I am just dumb.

Yes I agree. I see you have taken a buy on GBPJPY. Would you mind sharing how you plan ahead for this pair please?

Thank you very much for your time and patience.
  • #66,476
  • Mar 3, 2016 9:21am Mar 3, 2016 9:21am
Quoting ruben7222
hello, another question for you guys. does somebody knows, what is wrong with this trade? i entered on the close by the bar with the arror/red vertical line. exited when i realised that it was a WRB thanks in advance {image}
Hi Ruben,

Don't beat yourself up over onetrade. I think your entry is not that bad perse. You spotted a TDI cross with PA bouncing off 1.41 BRN... This is not a magic indicator. It will not work all the time. To trade forex we need more experience to learn various aspects of trading.

Couple of things: Have a look at yesterday. Maybe you could look for a Daily Open Line Indicator. This could be helpful. It is sometimes a good idea to follow yesterday's bullish day so today could be good to look for longs only...

A lot of strange things can happen around London Open. I don't trade Intraday 1H charts but I know Phx, TheScorpsS, Lookleft, many others studied London Open extensively. I'm sure they could provide some more feedback. You could also have a look at the Phx's PDF's as I know they are well advised by some

Gl,
  • #66,477
  • Mar 3, 2016 9:22am Mar 3, 2016 9:22am
Quoting ruben7222
thanks for answering. a nice GBPUSD sell opportunity on lower TF or not? {image}

Hi,
look bigger picture
If you are in Uptrend, Long is correct way
  • #66,478
  • Mar 3, 2016 9:48am Mar 3, 2016 9:48am
Hi everyone, just want to share some of Emmanuel's golden posts I have been reading recently. You can try to do the quiz yourself and then read all the follow-up post see what other members answers are. And also you can read the post #647 by BigE. Emmanuel considers that post to be of high importance.

post #65540: http://www.forexfactory.com/showthread.php?p=8737385#post8737385

post #64747http://www.forexfactory.com/showthre...21#post8697421

post #20710: http://www.forexfactory.com/showthre...68#post6756668

http://www.forexfactory.com/showthre...16#post7860816

http://www.forexfactory.com/showthre...66#post7860766

http://www.forexfactory.com/showthre...82#post7021682

Two other pictures I couldn't find the source are attached as well. Hope it helps.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 1.png Size: 177 KB
Click to Enlarge Name: 2.png Size: 168 KB
  • #66,479
  • Mar 3, 2016 10:29am Mar 3, 2016 10:29am
Quoting Trader MT4
{quote} Hi, look bigger picture If you are in Uptrend, Long is correct way
yes but longer TF you see it is probably a bullish retracement.
  • #66,480
  • Mar 3, 2016 10:33am Mar 3, 2016 10:33am
Quoting v2vboni
Hi guys, What are the advantages/disadvantages of having the normal candle bars and APB or Heiken Ashi type candle bars? {image}
Imo, to see the real PA of a candlestick we need to look at the Japanese candlestick to avoid confusion, cause sometimes you can't see the OHLC of APB candles which might lead you to a wrong decision. hereunder is an example.
Attached Image (click to enlarge)
Click to Enlarge Name: Difference.png Size: 56 KB
just my 2 cents..
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