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Trading Made Simple

  • #66,681
  • Mar 8, 2016 12:34pm Mar 8, 2016 12:34pm
Quoting emmanuel7788
{quote} simply trade in the direction of the D1. {image}


ok, so even if the lower timeframe we are on is currently trending against the d1 it is best to look for setups on that tf which go in the direction of the d1.

so i am guessing if that h1 setup had materised we could have used ME/ME trades as it in the direction of the d1 trend?

[i would like to start using these me/me trades at some point but first i think i'd better work on getting most of my trades to be winners]

thanks,
  • #66,682
  • Mar 8, 2016 1:43pm Mar 8, 2016 1:43pm
Hi

On your charts your have lines displaying yesterdays low and high price. Are these manually added or is it an indicator and if latter then can you point me in right direction to get it? Thanks


Quoting Lookleft
EURAUD H1 +90 (+25 +50 +15) Big price rejection from BRN(1.4900) followed by price rejection from RN(1.4850). Entered after price had broken last low with nice TDI angle and red and green separating . CM managed trade with trade closed when pull back hit trailing stop. TP3 not hit was set for DOL and TP4 not hit was set for YL {image} AUDUSD H1 +45 (+25 +20) Bounce from the TDI with good angle and red and green separating. TP1 hit and TP2 set for yesterdays high but price didn't break DOL so closed manually when pull back occurred. {image}
  • #66,683
  • Mar 8, 2016 1:48pm Mar 8, 2016 1:48pm
Quoting emmanuel7788
{quote} Hi, I don't use trade explorer TE to analyse my trading performance. TE does not analyse ME/ME trades, it does not keep track of average entry price of open trades/position based on lot size, it does not manage basket of positions, etc. I use my own tools for trade management and system performance management. Please tell me what you want to learn and what TE will teach you, I can look into this and maybe find a way to help you. regards,
thank You Emmanuel7788. because i am a newbie i wanted to see the trades you were taking.
reading the start of this thread it looks v. easy but the most recent posts seem quite complicated with different indicators and such. would you be able to post one potential trade per day with an explanation? or is that asking too much? I feel like eelfranz - post one - i bought a trading course thinking that i was set... well more like a big loss TMS looks pretty good so far. just a lot of guidance and help cause once bitten twice shy!!!! far too nervous to take trades in case they reverse, i guess i need to build that confidence that a solid trading system brings
Fib(onacci) my way to glory
  • #66,684
  • Mar 8, 2016 3:28pm Mar 8, 2016 3:28pm
Quoting bluemosaic
Hi On your charts your have lines displaying yesterdays low and high price. Are these manually added or is it an indicator and if latter then can you point me in right direction to get it? Thanks {quote}
Here you go
Attached File(s)
File Type: ex4 Yesterday High & Low.ex4   4 KB | 308 downloads
Never argue with a fool; onlookers may not be able to tell the difference.
  • #66,685
  • Mar 8, 2016 3:44pm Mar 8, 2016 3:44pm
many thanks

Quoting Lookleft
{quote} Here you go {file}
  • #66,686
  • Mar 8, 2016 4:01pm Mar 8, 2016 4:01pm
Quoting kain775
{quote} ok, thanks. what was your initial stop loss on the trade at entry? i think i entered one or two candels prior to you and my initial SL was atr 7 x 1.75 which was around 75ish pips. an early close for me is if price closes above the 10 ema [which it did] my TP is also atr x 1.75 it used to be 2.00 atr but price was frequently missing this. now it gets to the 1.75 atr a bit more but still sometimes it missed it by a bit and comes back. i notice for that trade you had 4 tp's of 25 pips, 50 pips, 75 pips and 100 pips, and you broke even after...
Hi kain,
I have various presets for CM and use one that is appropriate to the pair and market condition.
On this trade I used a 30 pip S/L and initial TPs of 25 50 75 and 100. There was room for price to move for the first 2 TPs and I had decided my 3rd TP would be DOL which just happened to be about 75 pips. If need be I would have adjusted the CM setting for this. Once I had opened the trade I actual changed TP4 to 90 pips which was a stronger S/R zone in my opinion. I don't use ATR to determine TPs but look at S/R zones. Depending on the trade I also use a CM function that moves the last TP a certain number of pips ahead of price so that if the trade runs away I say in it.
Slight misunderstanding on the break even point. CM has a Capital Protection function which moves the S/L to open price after price has moved a certain number of pips. With the testing I've done on this pair I find that setting this to 20 pips works for me. In other words, once price has moved 20 pips I can't loose money. I'm a great believer in picking trades that allow you to move to BE as soon as possible.
Hope this helps.
Never argue with a fool; onlookers may not be able to tell the difference.
  • #66,687
  • Mar 8, 2016 5:22pm Mar 8, 2016 5:22pm
Quoting Lookleft
{quote} Hi kain, I have various presets for CM and use one that is appropriate to the pair and market condition. On this trade I used a 30 pip S/L and initial TPs of 25 50 75 and 100. There was room for price to move for the first 2 TPs and I had decided my 3rd TP would be DOL which just happened to be about 75 pips. If need be I would have adjusted the CM setting for this. Once I had opened the trade I actual changed TP4 to 90 pips which was a stronger S/R zone in my opinion. I don't use ATR to determine TPs but look at S/R zones. Depending on...
Hello there LL!

I have tried to use CM in the past but have not been successful in getting it to execute. I would drag the indicator into the chart - above my trade for buy, below for sell - but nothing would happen. So i gave up on using it but would like to try again. Can you give suggestions? Thanks!
  • #66,688
  • Mar 8, 2016 6:07pm Mar 8, 2016 6:07pm
Quoting koukou
hello ...anyone know if exist the simple tdi (2 lines with cross alert?) thnx

yes, use the Synergy_Pro_TDI and set the alerts to true.

The only two indicators which we use and the most recent versions are:-
the Synergy_Pro_APB which has the Price Action Channel build-in
the Synergy_Pro_TDI, an updated version which work in realtime market
these are found in the package Synergy_Pro zip : Post#50,241
Attached Image (click to enlarge)
Click to Enlarge Name: Synergy_Pro_TDI alerts.png Size: 111 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #66,689
  • Mar 8, 2016 7:24pm Mar 8, 2016 7:24pm
EUDAUD and GBPAUD Week 10 9 Mar

If you are selling EA and GA today, your stop loss will be -yesterday's high using the high of the previous 2 days (2-days look back).
This stop loss will always trail the average entry price of all your open trades.
EA stop loss distance is 120pips
GA stop loss distance is 150pips

Attached Image (click to enlarge)
Click to Enlarge Name: EURAUD Week 10 9 Mar.png Size: 39 KB


Attached Image (click to enlarge)
Click to Enlarge Name: GBPAUD Week 10 9 Mar.png Size: 40 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #66,690
  • Mar 8, 2016 8:03pm Mar 8, 2016 8:03pm
Quoting emmanuel7788
EUDAUD and GBPAUD Week 10 9 Mar If you are selling EA and GA today, your stop loss will be -yesterday's high using the high of the previous 2 days (2-days look back). This stop loss will always trail the average entry price of all your open trades. EA stop loss distance is 120pips GA stop loss distance is 150pips {image} {image}

Emmanuel7788,

Do you have short entries in this pair ? If so, would you mind telling us where you are short from ?

Thanks
  • #66,691
  • Mar 8, 2016 8:34pm Mar 8, 2016 8:34pm
Quoting emmanuel7788
{quote}{quote} Hi Mbt, No problem with your written English, don't need to be sorry. It is far better than my German. USDCAD is reacting at the BRN1.3300 which is also the 10EMA on the MN chart. Both the Mn and W1 chart price action look good to support a sell today. But when we sell at today's open our initial is above last Friday' high ( 2 days look back). at this moment H4 is not looking nice with a WRB also Master Candle[4]. I suspect we may see short term buying up to 1.3400~1.3450 region. This is very threatening to the 2 days look back high....

Hello emmanuel,

Looking back at the USDCAD yesterday you seem to have a crystal ball to predict future. Could you explain your thinking behind this?

" I suspect we may see short term buying up to 1.3400~1.3450 region. "
  • #66,692
  • Mar 8, 2016 9:14pm Mar 8, 2016 9:14pm
Quoting antonym
{quote} Hello emmanuel, Looking back at the USDCAD yesterday you seem to have a crystal ball to predict future. Could you explain your thinking behind this? " I suspect we may see short term buying up to 1.3400~1.3450 region. "

Hi,

I wish I have a crystal ball. But my third eye tells helps me to see better.
What I see is there is plenty of daylight between short term and long term traders. Traders tends to roam more when there is much more daylight visibility.
...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #66,693
  • Mar 8, 2016 10:22pm Mar 8, 2016 10:22pm
Quoting antonym
{quote} Hello emmanuel, Looking back at the USDCAD yesterday you seem to have a crystal ball to predict future. Could you explain your thinking behind this? " I suspect we may see short term buying up to 1.3400~1.3450 region. "

Hi antonym
I think most likely there will be some resistance around 1.3457(50ema on H4) and also monthly S/R
Yesterday I mentioned about support at 200ema(daily)
http://www.forexfactory.com/showthre...82#post8799782
I missed the trade coz I was doing something else but at least I made some pips with AU

Good luck
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  • #66,694
  • Mar 8, 2016 11:00pm Mar 8, 2016 11:00pm
Attached Image (click to enlarge)
Click to Enlarge Name: EURNZD.png Size: 35 KB

Hello friends,

can u pls tell me where i went wrong in this chart ?

I gave EURNZD sell ,at the beginning of the new candle open in 1 hour ( marked red vertical line )
my stop loss is the recent swing high .( the yellow line )
Reasons for taking the call :
1) Red cross green with a good angle
( should i look the angle of both red and green lines or the angle in between red and green line ?)
2) stochastics is in same direction
3) candle is big
4)big candle prior to this
5) 2nd candle after the crossover but third candle as per heiken ashi .
pls guide ..

thanks
  • #66,695
  • Edited Mar 9, 2016 12:09am Mar 8, 2016 11:30pm | Edited Mar 9, 2016 12:09am
Quoting emmanuel7788
EUDAUD and GBPAUD Week 10 9 Mar If you are selling EA and GA today, your stop loss will be -yesterday's high using the high of the previous 2 days (2-days look back). This stop loss will always trail the average entry price of all your open trades. EA stop loss distance is 120pips GA stop loss distance is 150pips {image} {image}
Can you tell me why you are shorting on this pairs today. On daily chart I don't See a Trend continuation if you look at yesterday's candle but maybe it's my failure in analysing. It bounced off my Support line
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_2016-03-09-06-29-47.png Size: 95 KB
  • #66,696
  • Mar 8, 2016 11:45pm Mar 8, 2016 11:45pm
Quoting dra.forex
{image} Hello friends, can u pls tell me where i went wrong in this chart ? I gave EURNZD sell ,at the beginning of the new candle open in 1 hour ( marked red vertical line ) my stop loss is the recent swing high .( the yellow line ) Reasons for taking the call : 1) Red cross green with a good angle ( should i look the angle of both red and green lines or the angle in between red and green line ?) 2) stochastics is in same direction 3) candle is big 4)big candle prior to this 5) 2nd candle after the crossover but third candle as per heiken ashi...
As EMA says, you first have to determine what type of trader you are, the short term or the long term trader? The appearance like if you are like the big E in 1 hour chart transaction, then I think you should follow his rules, in accordance with your point of view, first of all, your entry point late, in accordance with the big e rules, your entry point should be in before a candle. If your entry in the first candle at the beginning, then in your entry point position, you have probably 40-50 points of profit, so if later withdraw when you like big e as the retracement 15-20 points, to ensure your earnings, or even a bold, you can also stop loss in the profit and loss balance position. If you are a H4 traders, then you should like EMA as well your big picture plan, from 4 hours, you are in a narrow range of shocks, so now there is no trade, I think so, I hope this can help you
Attached Image (click to enlarge)
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  • #66,697
  • Mar 9, 2016 12:21am Mar 9, 2016 12:21am
Quoting Mbt
{quote} Can you tell me why you are shorting on this pairs today. On daily chart I don't See a Trend continuation if you look at yesterday's candle but maybe it's my failure in analysing. It bounced off my Support line {image}

I started shorting these pairs since Monday open ....
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #66,698
  • Mar 9, 2016 1:28am Mar 9, 2016 1:28am
Quoting rupasi
{quote} Hello there LL! I have tried to use CM in the past but have not been successful in getting it to execute. I would drag the indicator into the chart - above my trade for buy, below for sell - but nothing would happen. So i gave up on using it but would like to try again. Can you give suggestions? Thanks!
Hi rupasi,
You need to add CM to your chart before you enter a trade. You will get a message in the top left saying 'CaveManager v1.41 on (your broker) Waiting for action' and 'THV CaveManager v1.41' with a smiley face in the top right. There is a document I wrote in the paperclip that gives basic settings.
Never argue with a fool; onlookers may not be able to tell the difference.
  • #66,699
  • Mar 9, 2016 1:34am Mar 9, 2016 1:34am
Time for a new ME/ME basket?

GBPJPY looks good to me
Risk: GBP news today, RN/SR at 159.50, 158.5, 156.5
I would set initial SL at 200 pips = ADR100, which is about 80% of 2 days lookback
Sell limits at 0.5 ADR = 100 pips
TP = 100

What do you think?
Attached Image (click to enlarge)
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Best regards, blackfriday
  • #66,700
  • Mar 9, 2016 1:44am Mar 9, 2016 1:44am
Quoting tibovwh
{quote} {quote} Hi, I think you both might find this site interesting: https://www.mataf.net/en/forex/tools @ Scramble: I'm no expert but I think EA and GA might have a lot of correlation. If you can find uncorrelated pairs you reduce your risk on your bets. In addition to correlation you can have a look at ADR values. Certain pairs travel wider ranges, on average, on a given day. Combine this with $pip-values to find what pairs are most interesting to trade. From the top of my head GJ and EA look most interesting to me I'm sure there...
Thank you for your advice
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