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Trading Made Simple

  • #67,981
  • Apr 6, 2016 4:55pm Apr 6, 2016 4:55pm
Quoting makron
{quote} Very nice! I took GA and GN like you. GA closed +120pips GN closed 1/3 and still running {image}
Thats a nice looking PASR TMS trade... Good job indeed.

N.
  • #67,982
  • Apr 6, 2016 5:34pm Apr 6, 2016 5:34pm
Hi catalin_eros,
I think you did quite well. I'm still learning, and entry seems much easier than exit. Can you tell me how you are determining your exit points or profit targets? A couple look clearly like S/R, but your EG trade isn't clear to me. Thanks in advance.
  • #67,983
  • Apr 6, 2016 6:00pm Apr 6, 2016 6:00pm
Quoting catalin_eros
{quote} Hi, Emm! Why would you wanna buy EA? It is within the W1 WRB, and it had 3 W1 dojis. That's sideways market. Why bullish? Why would you wanna buy EC? Very similar to EA. On EN is understandable: last week is a hammer.

my post said:

"outlook week 14 to 17"
and
"... looking to buy any of these"

we wait till we see technicals, fundamentals and market sentiments are in synergy then we do our Position Trading.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #67,984
  • Apr 6, 2016 6:09pm Apr 6, 2016 6:09pm
Quoting BridgeWater
{quote} i guess, all open trade closed now, nice catch {quote} you are right Emm, that pdf have no correlation with your outlook about GN Emm, if on one day ATR 100 days have reached, and ATR 52 weeks still far away, you still adding more entry? or waiting next day? (im talking about ME/ME daily chart)
Hi,

Those were very good hauls - GBPAUD, GBPCAD and GBPNZD. All in falling price channels, we sell the corrections while lower timeframes traders will buy the corrections.

On D chart position trading , I look at the 52-weeks average trading range. So long as there is no trade invalidation I will remain in the trade but must look at the next higher timeframe price action making sure there is still price momentum in the direction of our trades. Also keep track where the previous month OHLC are and trade in the direction of the MN OHLC . Look at EURGBP, it rally for 4 consecutive months after the TDI bounce... X'mas last year.
THE ADR-100 days is used for the lot size calculation and entry levels for the ME trades. This is the basic for ME/ME trading without the hassle to do %risk and position sizing for every individual add-on ME trades.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #67,985
  • Apr 6, 2016 6:14pm Apr 6, 2016 6:14pm
Quoting ensale
{quote} Full respect for your call on eurgbp this week..

we all made money on this X'Mas bounce trade ...

the market is always right,
follow the heart beat of the market ...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #67,986
  • Apr 6, 2016 6:26pm Apr 6, 2016 6:26pm
Quoting leescofield
{quote} Hi,Emm,May I ask which pairs are trend sideway most of time,because I am bad at trading ranging currency pairs.

I too have trouble to trade ranging pairs especially when they are in narrow range. TMS is not suitable when market is narrow range sideways, in every timeframe.
That is why it is so important that traders must know the basic forex stuffs which Big E mentioned in his Post#647. Look at the big candles and the small candles, know what is the short term trend , the long term trend, know how to identify consolidation, look at previous highs / lows, etc.

Go back to Big E's first thread Craig Harris Stochastic Method where the 5-Method originated. Read all his posts in that thread.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #67,987
  • Apr 6, 2016 6:29pm Apr 6, 2016 6:29pm
Quoting unigeni1
{quote} Thx for sharing the book! i took a look at it. it's a good book. {image}

Thanks for the pdf copy.
That hardcover cost me $30.... .
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #67,988
  • Apr 6, 2016 6:38pm Apr 6, 2016 6:38pm
Quoting mazibee
Hi TMS Traders On the previous post I put the stop loss of 100 pips each and they were hit. I took these trades please you comments and suggestion to improve will be higly appreciated as it will help me in imroving my trades. Also please if some can explain 1) How to use ATR for properly putting the SL and TP on H4 chart. ( I tried seraching google but could not find any good indicator and the study material to use in the way as the TMS traders are using on this thread) 2) Can we use ADR to put SL and TP 3) Is their any indicator that can be used...

Hi mazibee,

About the use of the ADR, there are lots of tutorial videos in the CHS thread. I learn from the professional traders. All newbies are encouraged to learn from the professional traders.

follow this link:
http://www.forexfactory.com/showthre...84#post8852984

Please note, I have been reminded by FF Admin that we cannot post anything or mention anything that is Commercial related in this Trading Made Simple thread. So if you have anything that is related to commercial sites, please go and post in the CHS thread which is in the Commercial forum.

Thank you.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #67,989
  • Apr 6, 2016 6:45pm Apr 6, 2016 6:45pm
Bank of Japan Governor Kuroda will be speaking in about one hour. Expect market volatility and better stay out until the market settles down after his speech. But the JPY pairs already traded very strong this week, ahead of his speech. So the market sentiments was a bullish Yen since Monday, will this continue after today?

Trade Well and Trade Safe.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #67,990
  • Apr 6, 2016 9:12pm Apr 6, 2016 9:12pm
Thank u very much, Nik. I will look up that link & try. I'm just wondering why there is no one talking about this popular indicator in equity/equity options mkt? isn't in general all mkts behaving pretty much the same? I guess it maybe Forex is such a gigantic mkt there exists much more "trader dynamic"?
  • #67,991
  • Apr 6, 2016 10:13pm Apr 6, 2016 10:13pm
Quoting emmanuel7788
{quote} I too have trouble to trade ranging pairs especially when they are in narrow range. TMS is not suitable when market is narrow range sideways, in every timeframe. That is why it is so important that traders must know the basic forex stuffs which Big E mentioned in his Post#647. Look at the big candles and the small candles, know what is the short term trend , the long term trend, know how to identify consolidation, look at previous highs / lows, etc. Go back to...
Got it!
  • #67,992
  • Apr 7, 2016 12:08am Apr 7, 2016 12:08am
Hi Nik I tried on Think or Swim platform but couldn't follow Emmanuel's steps to replicate the tdi, any idea about possible way to create one on TorW? I personally use OptionsHouse but I don't like their charts. Thanks!
  • #67,993
  • Apr 7, 2016 1:51am Apr 7, 2016 1:51am
Quoting Li52
Hi Nik I tried on Think or Swim platform but couldn't follow Emmanuel's steps to replicate the tdi, any idea about possible way to create one on TorW? I personally use OptionsHouse but I don't like their charts. Thanks!

Try this:

https://futures.io/thinkorswim-progr...-platform.html
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #67,994
  • Apr 7, 2016 4:15am Apr 7, 2016 4:15am
From the many PM questions I got over the past months I found one common problem among the new TMS traders.
They all look for the H4 setups with entry using the APB#1 and APB#2 candles. But Once they missed the both of these candle, they do not know what to do and to find an entry in to the market. Why can you enter a trade when there is strong trends like this week. Many pairs trending very strong and many stood by and watch in frustration seeing many pips flow away. Post your charts and I will explain how you can enter on other APB# candles and where to place your initial stop loss. You want to learn to trade with TMS, you must participate in discussions, post your charts and ask any questions no matter how stupid you think your question may sound. Trust me, many members here have same questions too but are shy to post and ask.

Second common problem is broker server times and different H4 candles.
While some are still asking me which broker server time is more accurate with recent change in a few broker server time due to DST change in the US and also in the UK.
I have posted many times before, that you pick one broker and stick to the H4 chart they provide you. You do not change broker just because you want to see the same H4 open like my charts. If you post your H4 charts, I will explain the difference in H4 candles and what we see differently and how you can enter the market no matter how the different H4 candles.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #67,995
  • Apr 7, 2016 4:21am Apr 7, 2016 4:21am
Quoting lctrader11
Hi catalin_eros, I think you did quite well. I'm still learning, and entry seems much easier than exit. Can you tell me how you are determining your exit points or profit targets? A couple look clearly like S/R, but your EG trade isn't clear to me. Thanks in advance.
Hello!

All those trades were closed manually, before the TP got hit, because of the important news today.

I did a bad entry on GU this week and I posted it, I lost some good pips on that, and now I erased that loss with these manually closed trades.

In an older post, Emm talked about the percentage of the 52 W1 ATR we should be aiming for: in a ranging market (not narrow), we aim for 60%, in a trending market, we aim for 100%, and for a breakout entry, we aim for 120%. I am not sure where that post was, but that is what I remember from it. Emm can correct me if I am wrong.

So the trades you saw closed, were closed just because I did not want any surprises from the news today, and because those won pips washed away my mistake with GU. If there were no news, I would have let the trades run longer and aim for the percentages listed above.

Many green pips to you!
  • #67,996
  • Apr 7, 2016 4:22am Apr 7, 2016 4:22am
Hello seniors.
I am in a dilemma.
Attached Image (click to enlarge)
Click to Enlarge Name: CADJPYproH4_07Apr16.png Size: 74 KB


I have put vertical read lines where I could have potentially entered a trade but missed it or hesitated about pulling the trigger.

Line 1 --> I missed this window of opportunity. I waited for a bounce.
Line 2 --> The bounce happened. But it was already below 32 OS level. So I refrained hoping to get in at a favourable position.
Line 3 --> Green crosses back into Red. Trend down is as strong as ever and we are deep in the oversold territory.

My question is : Is this a time when we should see the price action and act rather than be guided by the other indications like the TDI being in the OS ?
Live life king size !
  • #67,997
  • Apr 7, 2016 4:57am Apr 7, 2016 4:57am
Quoting foxtrader16
Hello seniors. I am in a dilemma. {image} I have put vertical read lines where I could have potentially entered a trade but missed it or hesitated about pulling the trigger. Line 1 --> I missed this window of opportunity. I waited for a bounce. Line 2 --> The bounce happened. But it was already below 32 OS level. So I refrained hoping to get in at a favourable position. Line 3 --> Green crosses back into Red. Trend down is as strong as ever and we are deep in the oversold territory. My question is : Is this a time when we should see the price action...

Hi,

No worries, I was in dilemma for very long time until I learn how to trade with price action.

Read carefully every one of Big E' post and relate what he said on to a chart example. Whenever he mentioned about PA and candle, he was referring to the APB candles.
Look at the APB candles, their body size, its upper and lower wick. he mention entry when there is momentum, and place his stop loss above the previous candle high or 2 candle back.
When I trade H4 swing, I look at the next higher TF i.e. the D chart - the price action of the Day Price Bar or Japanese candlestick. In a string trend like this week with all the JPY pairs, I follow the Day chart candles and where possible convert my H4 trades to D1 trades and add positions as the trend continues.
There were several entry opportunities using H4. We always pay attention to the previous Week' OHLC and previous day OHLC. and also the BRN 00 and RN 50 price levels. These are natural support and resistance.
We do not concern with the H4 TDI in the oversold levels because in strong downtrend trend it will remain in oversold because of the selling pressure. This is where we look at the D1 TDI and make sure the cross is valid and the Red and Green widens.

see my chart below. I do not trade this pairs, but the other pairs UJ, AJ, EJ and GJ are the same.

Attached Image (click to enlarge)
Click to Enlarge Name: CADJPY price action entries with TDI confirmation.png Size: 71 KB


regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #67,998
  • Apr 7, 2016 5:52am Apr 7, 2016 5:52am
EA long later at LO session for +50 pips , TDI bounce trade
Attached Image (click to enlarge)
Click to Enlarge Name: EA-H1.jpg Size: 363 KB
I Have Learned to Take Some Losses to Make Profits
  • #67,999
  • Apr 7, 2016 6:20am Apr 7, 2016 6:20am
Quoting emmanuel7788
{quote} Thanks for the pdf copy. That hardcover cost me $30.... .
just finished reading the book. eye opener.

that neoac test is not available. because of the copyright.

found a substitute http://www.personal.psu.edu/~j5j/IPIP/

a bit like ej and gj today.
  • #68,000
  • Apr 7, 2016 6:34am Apr 7, 2016 6:34am
Quoting TheScorpS
EA long later at LO session for +50 pips , TDI bounce trade {image}
Hi TSS,

very good trade!
simple clean execution.
You have that kind of patience on H1 which I envy.

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