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  • #68,341
  • Apr 15, 2016 3:03am Apr 15, 2016 3:03am
Quoting BridgeWater
{quote} you already ask me same question on post 68,236 see my picture at post 68,224 This is how i set TP: Entry-1 set TP +100 pips. Entry-2 triggered, and then TP moved to +100 pips from average entry price. Entry-3 triggered, and then TP moved to +100 pips from average entry price. This is how i set SL: Entry-1 set SL -400 pips. Entry-2 triggered, and then SL moved to -400 pips from average entry price. Entry-3 triggered, and then SL moved to -400 pips from average entry price. do not wait stoploss touched, see nearest swing, price action at...
Take EU as example,Entry-1 1.13000,TP is 1.14000,
Entry-2 1.13120,TP is （1.13000+1.13120）/2+100pips=1.13060+100pips=1.14060
Entry-3 1.13500,TP is （1.13000+1.13120+1.13500）/3+100pips=1.13207+100pips=1.14207
  • #68,342
  • Apr 15, 2016 3:32am Apr 15, 2016 3:32am
Quoting leescofield
{quote} Take EU as example,Entry-1 1.13000,TP is 1.14000, Entry-2 1.13120,TP is （1.13000+1.13120）/2+100pips=1.13060+100pips=1.14060 Entry-3 1.13500,TP is （1.13000+1.13120+1.13500）/3+100pips=1.13207+100pips=1.14207
No, you mistaken about ME/ME.
example: if you want to buy,

entry-1 = 1.1300, then set TP 1.1400
but price against your entry, then you buy again at 0.5xADR(100)
entry-2 = 1.1200, then set TP +100 pips from average entry price for that two opened trade

how to calculate average entry price?
(entry-1 + entry-2)/2= average entry price
so in this case:
(1.1300+1.1200)/2= 1.1250, then set TP 1.1350 for that two opened trade

if price still against you, , then you buy again at 0.5xADR(100)
entry-3 = 1.1100
this is how to calculate TP
(entry-1 + entry-2 + entry-3)/3= average entry price
(1.1300+1.1200+1.1100)/3= 1.1200, then set TP 1.1300 for that three opened trade

so if all opened trade closed,
you have 2 trade profit, and 1 trade BE with net profit +300 pips

thats it, hope it clear
  • #68,343
  • Apr 15, 2016 3:40am Apr 15, 2016 3:40am
Quoting leescofield
{quote} Take EU as example,Entry-1 1.13000,TP is 1.14000, Entry-2 1.13120,TP is （1.13000+1.13120）/2+100pips=1.13060+100pips=1.14060 Entry-3 1.13500,TP is （1.13000+1.13120+1.13500）/3+100pips=1.13207+100pips=1.14207
EDIT: Already answered by Bridgewater. Thank you

Hi Leescofield,

i understand your reckoning. But from where do you get the 1,3120? and the 1.13500?
from 1.1300 to 1.1312 is 12 Pip.
from 1.1312 to 1.1350 is 38 Pip.
How do you come to this?

best wishes

Candle
"Repetition is the mother of skill"
  • #68,344
  • Apr 15, 2016 3:50am Apr 15, 2016 3:50am
Quoting BridgeWater
{quote} No, you mistaken about ME/ME. example: if you want to buy, entry-1 = 1.1300, then set TP 1.1400 but price against your entry, then you buy again at 0.5xADR(100) entry-2 = 1.1200, then set TP +100 pips from average entry price for that two opened trade how to calculate average entry price? (entry-1 + entry-2)/2= average entry price so in this case: (1.1300+1.1200)/2= 1.1250, then set TP 1.1350 for that two opened trade if price still against you, , then you buy again at 0.5xADR(100) entry-3 = 1.1100 this is how to calculate TP (entry-1 +...
For understanding: Can you make another example for a normal Longtrade. I mean when the price tooks his normal way up?

best wishes

Candle
"Repetition is the mother of skill"
  • #68,345
  • Apr 15, 2016 3:51am Apr 15, 2016 3:51am
I am new to this thread.

I have got these charts and I need some help in deciding what should be done.

I have to admit that I have not read the 3417 pages of this thread(WOW, what a popular thread). Makes me wonder how many people are making money due to this.

Anyway, here are the latest 4H charts and advise will be greatly appreciated.

I will go through top left to Top right and then bottom explaining my view.

EU, Crossed y'day at 11am EST but BAR red. So, do you wait for bar to turn Blue(UP), before taking a trade?
GU, in the process of crossing!!!
EJ, corssed y'day 3pm EST, (MISSED)
AU, possibly turn coming!!!
UChf, This crossed 13th 7pm EST with RED Bar, it had crossed back and now has crossed down but on Blue bar. What to do?
UJ, crossing, possibly on the close of this bar.
GJ, Possibly cross soon?!?
UCad, in the process of crossing.

OK, have realised that there is G20 and IMF today. So, that might be the reason for all these crossings at the same time in these crosses. But, if they all show crossings, do you take them?

Anyway, is there a quicker way to acquaint oneself with this method very quickly (i.e. is there a summary somewhere?)

Thank you guys for all your help and EelFranz for starting this thread.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Image1.png Size: 263 KB
Click to Enlarge Name: Image2.png Size: 81 KB
  • #68,346
  • Apr 15, 2016 3:58am Apr 15, 2016 3:58am
Quoting Candle-
{quote} For understanding: Can you make another example for a normal Longtrade. I mean when the price tooks his normal way up? best wishes Candle
i dont get what you mean, that example post 68,345, i use round number price for easy to learn

maybe normal way up like this?

entry-1 1.1300, set TP 1.1400 (100 pips)
if entry-1 cleared, then immediately re-entry, and set TP +100 pips
and repeat again and again
  • #68,347
  • Apr 15, 2016 4:06am Apr 15, 2016 4:06am
Quoting TheRock
{quote} ​Cheers for the advice Emm. I see that price has now closed above the MC(3), if this was any other day than Friday, would it have been a higher probable trade for a long? Also, I was analysing for a short in my previous post, was my analysis incorrect from what you can see, or is this a case of Plan A and Plan B. What I find difficult is long term trend (monthly and weekly is bearish), however last 2 days have been bullish, how do we analyse which way we think it will go? How did you decide that we are more likely still looking at...
Hi,

Look at D1 chart. There is a WRB to the left when price was driven down. This is the sideways range in which UJ is trading now.
Today is difficult with the 10EMa above the PA and that WRB high is potential resistance.

Attached Image (click to enlarge)
Click to Enlarge Name: USDJPY D1 chart WRB and Doji setup candle.png Size: 42 KB


On H4, price may test 110.00 but we do not know when.
Now H4 shows bearish pattern so we can take that sell for quick few pips.

BTW, there was no H4 MC[3] you mention on your chart. That was a WRB.
You may want to use the MC indicator which will help spot those MC[3] candles.
Master Candle : Post#28,556 pdf in Post#25,594

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #68,348
  • Apr 15, 2016 4:12am Apr 15, 2016 4:12am
Quoting BridgeWater
{quote} No, you mistaken about ME/ME. example: if you want to buy, entry-1 = 1.1300, then set TP 1.1400 but price against your entry, then you buy again at 0.5xADR(100) entry-2 = 1.1200, then set TP +100 pips from average entry price for that two opened trade how to calculate average entry price? (entry-1 + entry-2)/2= average entry price so in this case: (1.1300+1.1200)/2= 1.1250, then set TP 1.1350 for that two opened trade if price still against you, , then you buy again at 0.5xADR(100) entry-3 = 1.1100 this is how to calculate TP (entry-1 +...
Hi, Brigde,

that ME/ME rules is only to daily graph (daily candles)?


dan
  • #68,349
  • Apr 15, 2016 4:17am Apr 15, 2016 4:17am
Quoting Trader MT4
{quote} Hi, Brigde, that ME/ME rules is only to daily graph (daily candles)? dan
i dont know about this, but i have alot of fun with ME/ME on daily chart, maybe Emm can answer this question.
  • #68,350
  • Apr 15, 2016 4:19am Apr 15, 2016 4:19am
Quoting BridgeWater
{quote} i dont get what you mean, that example post 68,345, i use round number price for easy to learn maybe normal way up like this? entry-1 1.1300, set TP 1.1400 (100 pips) if entry-1 cleared, then immediately re-entry, and set TP +100 pips and repeat again and again
Thank you. That was what i want to here.

plz allow to ask another Questions to got it clear:

What about the entry when the rate retraces. I mean IF the rate retraces you only go ONCE in the retrace with the entry and when the rate envolve worser you got out with both entrys?

And at which moment do you decide to go with a new order IN the retrace. At every candle open? ore over the day?

The 3rd an least question do you set a Limit order at the TP over and over again?

Maybe you could post you ADR indicator with settings.

Thanks for your commitment

Candle
"Repetition is the mother of skill"
  • #68,351
  • Apr 15, 2016 4:21am Apr 15, 2016 4:21am
Quoting BridgeWater
{quote} i dont know about this, but i have alot of fun with ME/ME on daily chart, maybe Emm can answer this question.
You make a Entry on Daily chart (Daily candles), than you switch to H4 chart and make ME entries (using 0.5 ADR100) in H4 chart?
On Daily chart you make Countertrend Entry too, or not?

regards, Dan
  • #68,352
  • Apr 15, 2016 4:25am Apr 15, 2016 4:25am
Hi Em,
Thanks for posting charts, they have been a great help.
Traded AU yesterday for a very easy 30 pips.
Attached Image (click to enlarge)
Click to Enlarge Name: AU +30.png Size: 38 KB
Your trade order needs to be in the right place at the right time.
  • #68,353
  • Apr 15, 2016 4:28am Apr 15, 2016 4:28am
USD/JPY 4H chart

Is this the good setup?

Attached Image (click to enlarge)
Click to Enlarge Name: usdjpy-h4-forex-capital-markets.png Size: 36 KB
  • #68,354
  • Apr 15, 2016 4:34am Apr 15, 2016 4:34am
Quoting Candle-
{quote} Thank you. That was what i want to here. plz allow to ask another Questions to got it clear: What about the entry when the rate retraces. I mean IF the rate retraces you only go ONCE in the retrace with the entry and when the rate envolve worser you got out with both entrys? And at which moment do you decide to go with a new order IN the retrace. At every candle open? ore over the day? The 3rd an least question do you set a Limit order at the TP over and over again? Maybe you could post you ADR indicator with settings. Thanks for your commitment...
if you read Emm post about ME/ME, you will find answer for all this question:

I mean IF the rate retraces you only go ONCE in the retrace with the entry and when the rate envolve worser you got out with both entrys?
answer is : between entry-1 and next entry, you must wait 4 hour. So you not too much open order.

And at which moment do you decide to go with a new order IN the retrace. At every candle open? ore over the day?
answer is:between entry-1 and next entry, you must wait 4 hour. You must remember about 1% risk divide to 5 to build one position.

The 3rd an least question do you set a Limit order at the TP over and over again? Maybe you could post you ADR indicator with settings.
Yes you can doing that, but not a limit order but stop order.

this is the indicator :
Attached File(s)
File Type: ex4 ATR BridgeWater.ex4   8 KB | 313 downloads
  • #68,355
  • Apr 15, 2016 4:34am Apr 15, 2016 4:34am
Quoting Trader MT4
{quote} You make a Entry on Daily chart (Daily candles), than you switch to H4 chart and make ME entries (using 0.5 ADR100) in H4 chart? On Daily chart you make Countertrend Entry too, or not? regards, Dan
Quoting BridgeWater
{quote} i dont know about this, but i have alot of fun with ME/ME on daily chart, maybe Emm can answer this question.

Folks,

I know ME/ME sounds like lots of fun. But you must first understand the concept and work that out on paper to see its effectiveness when trading in trending market type.
Some old posts to read first and get a basic foundation:

Entry and Exits: Post#24,918 Post#18,422
How to Build a Position: Post#19,588
Multiple Entries / Multiple Exits for Day chart trading: Post#58,726

For those bookworms who love to read, here is the book where the ME/ME was written.
It's in Chapter 11 " How to Trade Like a Hegde Fund Manager".

Attached Image (click to enlarge)
Click to Enlarge Name: Kathy Lien book.png Size: 201 KB


We are all technical Indicators traders. What we should work towards is to become Systems traders if we want to have high chance to make money to supplement what our day job pays us. Forget about trading for a living especially if you are indicator traders. Very few traders can make it to trade for a living.


regards,
Attached File(s)
File Type: pdf Day Trading and Swing Trading the Currency Market - Kathy Lien (2009) A9.pdf   5.8 MB | 3,179 downloads
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #68,356
  • Apr 15, 2016 4:38am Apr 15, 2016 4:38am
USDJPY Price action H4 setup , H1 trade entry:

Attached Image (click to enlarge)
Click to Enlarge Name: USDJPY Week 15 Apri 15 H4 setup H1 trade.png Size: 48 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #68,357
  • Apr 15, 2016 4:44am Apr 15, 2016 4:44am
Quoting Trader MT4
{quote} You make a Entry on Daily chart (Daily candles), than you switch to H4 chart and make ME entries (using 0.5 ADR100) in H4 chart? On Daily chart you make Countertrend Entry too, or not? regards, Dan
You must remember about Emm said, manage your trade from chart you trade, dont manage with lower time-frame.

I posted H4 chart, just for show how my entry take place on lower time-frame.
that Multiple Entry using 0.5 x ADR 100 Days, and i dont make countertrend entry on daily chart, TMS is trend trading, so follow the trend.
  • #68,358
  • Apr 15, 2016 5:03am Apr 15, 2016 5:03am
Quoting emmanuel7788
{quote} {quote} Folks, I know ME/ME sounds like lots of fun. But you must first understand the concept and work that out on paper to see its effectiveness when trading in trending market type. Some old posts to read first and get a basic foundation: Entry and Exits: Post#24,918 Post#18,422 How to Build a Position: Post#19,588...
Hi Emm, thanks to remember me about that post again.

Regards,
  • #68,359
  • Apr 15, 2016 6:27am Apr 15, 2016 6:27am
Quoting emmanuel7788
USDJPY Price action H4 setup , H1 trade entry: {image}
Hi Em,
Can you elaborate / discuss in detail why this setup / trade was taken.
Just trying to learn more from your charts but sometimes I cannot see the wood for the trees.
Regards Rob
Your trade order needs to be in the right place at the right time.
  • #68,360
  • Apr 15, 2016 6:40am Apr 15, 2016 6:40am
Quoting emmanuel7788
USDJPY Price action H4 setup , H1 trade entry: {image}
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