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Trading Made Simple

  • #69,301
  • May 31, 2016 12:29pm May 31, 2016 12:29pm
Quoting Saripefx
Good afternoon everyone. I'm having good results with Mehdi strategy. But today I had a great loss -175 pips. I find it hard to leave when the market comes against me, always I think it will come back. I would like to Emmanuel and other opinions. 1) Tdi was a rebound, or was not a valid configuration? 2) When the price comes against what time I leave, I look for a smaller TF like H1 to know? Thank you very much. {image} I could have left at this point in H1? {image}
Hi saripefx

Price reaching at the top when we look at daily chart. You tried to buy at the top. If i were to buy i would wait till it break the RN-164.000 and later test it to get a signal then to long. Or price bounce from RN-164000 and give a signal to short. Which in this case happened. Do you like to look at HTF when trading H4?
Attached Image (click to enlarge)
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Sad i'm not trying to understand PA
  • #69,302
  • May 31, 2016 4:43pm May 31, 2016 4:43pm
Thank Omonisha the answer. I am new to forex, I tried several TF, but I'm having the best results in H4. Do you think H4 is better than H1, or is that too particular? What are your rules for entering a trade? Good luck.
  • #69,303
  • May 31, 2016 4:51pm May 31, 2016 4:51pm
This is a very useful trading system. I have used this earlier from GBP/USD. But I did have some losses like alot of losses. It's because I was rushing it and didn't look at the rules very carefully I should have read all or some of the post before and I could have done a lot better. I look at my entry points on the 1 hour chart and make appropriate stops on the 1 hour candle as well. 4 hour chart is the main trend though. I am really glad I found this one and I will choose this as my trading system from now on .
  • #69,304
  • May 31, 2016 8:08pm May 31, 2016 8:08pm
Quoting Saripefx
Good afternoon everyone. I'm having good results with Mehdi strategy. But today I had a great loss -175 pips. I find it hard to leave when the market comes against me, always I think it will come back. I would like to Emmanuel and other opinions. 1) Tdi was a rebound, or was not a valid configuration? 2) When the price comes against what time I leave, I look for a smaller TF like H1 to know? Thank you very much. {image} I could have left at this point in H1? {image}

Hi Saripefx,

As a technical trader, we have many tasks to preform before we start to trade.
One is to do a proper top down analysis what I call Big Picture Planning. With BPP, you will see the market starting from the Monthly, Weekly, then down to the Daily chart timeframes, you will see the market conditions, the market price swing levels and also where the support and resistance are closer to the current price action.
Timing of the market - yesterday was the last trading day of the month, so we expect long term traders to exit their positions and price will pull back. Also, we had Monday bank holidays in the UK and US, so when London session open yesterday, many traders are 'hungry' to make money.

Back to your GJ H4 trade:-
1) you were too eager to jump into the market and chase after the market. You jumped in after that very big candle and did not see the resistance level.
2) when we trade H4, we manage your trades in H4 as a general rule. We do not manage in lower timeframe because of the 'noise' in lower timeframe will cause more fear and greed.

See my comment on your posted chart.
- observe the previous price action and the behaviour of the TDI, where previous 'reversal' took place.
- both the Stochastics and the TDI (which is based on the RSI data) are oscillators, They work great is ranging market but when market is trending, these osciallators are not effective. Follow the price action and proper use of support and reistance seen using price action.
- when market is strong trending, both the Stochastics and TDI(RSI) can remain above their Overbought OB and below the Oversold OS regions for long time. Therefore we must look at the price action for buy and sell decisions and never use the Stochastics or the TDI alone for making any trade buy/sell decision.
- look at previous TDI 'reversals' (something mentioned by Big E in his posts) market repeats itself.

Attached Image (click to enlarge)
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regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #69,305
  • May 31, 2016 8:18pm May 31, 2016 8:18pm
Quoting Saripefx
Thank Omonisha the answer. I am new to forex, I tried several TF, but I'm having the best results in H4. Do you think H4 is better than H1, or is that too particular? What are your rules for entering a trade? Good luck.
Quoting taiki11
This is a very useful trading system. I have used this earlier from GBP/USD. But I did have some losses like alot of losses. It's because I was rushing it and didn't look at the rules very carefully I should have read all or some of the post before and I could have done a lot better. I look at my entry points on the 1 hour chart and make appropriate stops on the 1 hour candle as well. 4 hour chart is the main trend though. I am really glad I found this one and I will choose this as my trading system from now on .
There is a 'trend' in every timeframe. In every timeframe, the market move in waves - ebb and flow as what described in trading books.
The lower the timeframe, the small the price swings, the higher the timeframes, the larger the price swings. Therefore we must know the market trading range of the timeframe we chose to trade.
.
Attached Image


Most traders report better trading results when they trade the higher timeframes like H4 and D1.
Then again, some traders report that they make money trading the lower timeframes.
But statistics shows that most traders will be in that 95% of losers group in long term trading.
So what is your winning edge that will keep you in that 5% winners group?
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #69,306
  • May 31, 2016 11:53pm May 31, 2016 11:53pm
Hi everyone,
I've been watching, copying and learning and I need some help with a few things. I've attached a copy of what I've been working on. I'm a newbie at trading.
I'm using Fxglory so I know the platform looks different a bit. However, is there any way for me to get rid of the line chart on my template so it doesn't look so crowded?
Also, I see majority of everyone using one MA. What period do I use for it? Or are the 2 MAs ok?
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  • #69,307
  • Jun 1, 2016 12:24am Jun 1, 2016 12:24am
Quoting AWells
Hi everyone, I've been watching, copying and learning and I need some help with a few things. I've attached a copy of what I've been working on. I'm a newbie at trading. I'm using Fxglory so I know the platform looks different a bit. However, is there any way for me to get rid of the line chart on my template so it doesn't look so crowded? Also, I see majority of everyone using one MA. What period do I use for it? Or are the 2 MAs ok? {image}
Attached Image (click to enlarge)
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simply change your chart to Bar Chart view.

You can use the 5EMA, Typical Price, Shift +3.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #69,308
  • Edited 12:47am Jun 1, 2016 12:37am | Edited 12:47am
(USD/JPY) Quick two bounce trading +40 pips.
Need control fear ?


( AUD/USD ) I shoud not chase big candle and check 1st resistance in day TF. Exit trade with 10 pips lose.
Attached Image(s) (click to enlarge)
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  • #69,309
  • Jun 1, 2016 2:53am Jun 1, 2016 2:53am
Quoting rjcarey99
Hi all, another quick question if I may.... What is the relevance of the H1/H4 periods - i.e. why are we observing the indicators in line with the formation of a NEW candle? My assumptions is that it is purely superstition as those points in time appear to have no special qualities. Surely if I configured my charts to print a new candle at 16 minutes and 45 seconds past the hour it would make no difference to the system? Apologies if I am missing something? Regards Richard

My answer to this question is a little different than the others.... the reason we look at finished candles is because you have to look at price action. A Blow off bar or pullback or rejection candle look pretty convincing until the bar is finished and then it plainly shows reversal. If you use indicators, most indicators change while a bar is forming (TDI can go up and down and APB can change colors). So it's kind of the same reason as looking at price action. If you configure your charts to print a candle at 16 minutes and 45 seconds. That would be fine because you can backtest and forward test and get consistent results (good or bad) because you are printing a finished candle before you make decisions. If you don't wait, you won't get consistency of results because you are working interbar and cannot back test such a way of trading very well. As for the relevance of H1/H4 candles: I watch the h4,daily,weekly,monthly and their relevance is that I want confirmation and confluence on my trading and I get a higher win rate when I have them. Good luck

LL
"IN CASH WE TRUST"
  • #69,310
  • Jun 1, 2016 3:02am Jun 1, 2016 3:02am
Quoting emmanuel7788
EURAUD Big Picture Plan update Week 20 May 19. Just had a quick review with a few full time traders here and thought I share my BPP for EA to trade in the coming days ahead. May not happen this week, but the current PA is very close to the BRN which was tested by several days Highs. The market does not promise anything to anyone. As traders we need to be diligent in our work and be consistent in everything that we do. Remember DISCIPLINE is one of the many keys to unlock your potential and create your own winning edge in this trading as a business....
Sir,

With yesterday price action on EURAUD, would you consider closing the basket / cut loss short? Did you start a recovery trade? How should one manage the trade under such situation?

Thank you.
  • #69,311
  • Jun 1, 2016 3:32am Jun 1, 2016 3:32am
Quoting BridgeWater
Im create custom indicator, for anyone who need 52 Average Weekly Range represented on chart, this indicator give you looks like this: {image} {image} here the indicator: {file}
Hey BridgeWater,

whenever I use this indicator and insert it in my charts it makes MT4 very slow. I have 10 diff pairs charts Right now and the MT4 works great but when I start adding this indicator to my chart the mt4 slows down. the more I add it to diff charts the slower it gets.
is there a solution for this? I really like that Indicator.
thank you

Mabooz.
  • #69,312
  • Jun 1, 2016 5:23am Jun 1, 2016 5:23am
Quoting mabooz
{quote} Hey BridgeWater, whenever I use this indicator and insert it in my charts it makes MT4 very slow. I have 10 diff pairs charts Right now and the MT4 works great but when I start adding this indicator to my chart the mt4 slows down. the more I add it to diff charts the slower it gets. is there a solution for this? I really like that Indicator. thank you Mabooz.
Try this version.

Attached File(s)
File Type: ex4 AWR BridgeWater.ex4   11 KB | 351 downloads
  • #69,313
  • Jun 1, 2016 5:28am Jun 1, 2016 5:28am
Quoting mabooz
{quote} Hey BridgeWater, whenever I use this indicator and insert it in my charts it makes MT4 very slow. I have 10 diff pairs charts Right now and the MT4 works great but when I start adding this indicator to my chart the mt4 slows down. the more I add it to diff charts the slower it gets. is there a solution for this? I really like that Indicator. thank you Mabooz.

Mabooz.

There is a different way that you might not realize. What I want you to do is go to a chart say the Eur/Usd.... Apply your template with the indicator as is normal (I hope you know how to apply a template) Then open your market watch and drag and drop another currency say the Gbp/Usd and viola you have the same template with indicator applied to another curency without taking all the cpu cycles to make another chart. You can drag and drop any currencies in your market watch window to your chart and the chart will change to the new currency. I do this because I have more than one template that I wish to use when analyzing a currency. The idea is that you can have three charts open with applied templates with different indicators and then drag and drop your currency from the market watch to change currencies in the chart window. To get rid of the currencies you don't want in the market window (thus making it easier to find the currency you are looking for... I only trade 15) just highlight the currency and press delete on your keyboard. This will "hide" the currency. You can get them all back by right clicking the market watch and hit the "show all". You can drag and drop the currencies within the market watch window if you want a different order to them. Hope this helps. Play and experiment with these features and read the help topics in MT4 and it will educate you a bit. Another thing you can do is go to youtube and I'm sure there are plenty videos there. Take it easy friend

LL
"IN CASH WE TRUST"
  • #69,314
  • Jun 1, 2016 6:35am Jun 1, 2016 6:35am
Reason for enter : Triple top ?, downward thrust bar, nice tdi angle
Risk : MBL still pointing upward & above 50 line & Day TF tdi didn't cross to red line yet.

Got +40 pips for multiple entry/ single exit
Attached Image (click to enlarge)
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  • #69,315
  • Jun 1, 2016 6:35am Jun 1, 2016 6:35am
Bridge Water:
Thank you man I'll give it a try.

LL:
This is a really nice trick that I have never knew about. Thank you. This will make my trading life easier 😀
  • #69,316
  • Jun 1, 2016 6:44am Jun 1, 2016 6:44am
Quoting inforserve
Reason for enter : Triple top ?, downward thrust bar, nice tdi angle Risk : MBL still pointing upward & above 50 line & Day TF tdi didn't cross to red line yet. Got +40 pips for multiple entry/ single exit {image}
nice explanation, thanks ;-)
Regards
  • #69,317
  • Jun 1, 2016 7:32am Jun 1, 2016 7:32am
Old BigE's post

What you guys are aiming for a day ? Just curious !!!


" Like I trade several time frames... I trade each candle for it's individual merits... so I'm happy to take the profit on each one individually. If I get more than 1 candle I'm happy with it too.

I like to shoot for 50 pips a day... I'm not greedy. When I reach it I usually don't take any more live trades that day...

I trade full lots and sometimes multiple lots...

I'm retired and have sufficient income without any extra from trading the forex. I do it because I enjoy it... "
  • #69,318
  • Jun 1, 2016 7:36am Jun 1, 2016 7:36am
Quoting fulltilt
{quote} nice explanation, thanks ;-)
You're welcome.
  • #69,319
  • Jun 1, 2016 9:29am Jun 1, 2016 9:29am
​Is there any indicator that can give me alerts every time the TDI makes a cross?

Cheers
  • #69,320
  • Edited 3:01pm Jun 1, 2016 9:37am | Edited 3:01pm
Hello All,

First I would like to say thank you to all the regular posters on this thread. I wanted to spend 30 days reviewing it before I made my first post. In fact it is my first post on FF!

I have been demo trading Forex on and off for two years. Until I started using the TMS system I would take ME/SE fades for short profits. While it was profitable, the drawdowns were tough, and I feel this is a much better system. I backtested several pairs by hand (simple MBL cross not looking at news, trend,etc.).

In the past month I have made 7% and I am certain 10% is possible with a little help. I plan to trade the H4 and daily charts. I am using the Synergy Pro APB and Synergy Pro TDI, however I am open to other APB / TDI options.

I do have some questions:

1. PAC vs 5EMA shift 2 vs 10 EMA?? Pros and cons.... I am using PAC which seems to keep me out of some bad trade, however it also puts me into trades later than I would like costing some PIPS.

2. Trend or Counter Trend?? I know trend is your friend but I sure do see a lot of CT trades on the H4 chart. In fact I see several CT which turns into new trends.

3. What do you use to determine trend for H4 and Daily purposes? EMA, previous day candle, previous week candle.

4. When looking at EMA are you referencing the angle of the line or simply towards/away. (IE. Trade away from the 200EMA) (I use the 50, 200, 800EMA)

5. If the Daily chart is close to a TDI cross can you drop down to H4 and make the trade if it's TDI has crossed. I have done this a few times but It always puts me into the H4 Trade late.

6. Do you have to wait for the MBL cross? It kept me out a few bad trades but also put me into trades later than I would have liked costing many PIPS.

7. H4 and Daily MM - I have read several different MM systems but I really need to clean up my SL & TP. Do I take 1/2 profit at SL risk or 1/2 SL risk(i.e.. 50 SL close half at 25)? I see some traders closing half there trade at 1/2 SL risk while others wait until they are at the SL risk to close some or all the trade.

I am debating on the following:

H4 (1.5 or 2) ATR10 SL / (3 or 4) ATR10 TP - Close half position at SL risk and then move second to BE- May use CM trail by candle (although CM EA has been giving me issues and not doing the BE or trail stop at times....)

Daily - (1 or 1.5) ATR10 SL / (2 or 3) ATR10TP - Close half at SL Risk then second half to BE

8. Is there an easy way to see Japanese candles over the APB in MT4? I am able to get a gray Japanese Candle to show but the wicks do not show the proper color.

9. Is there a way to not have the APB MTF indicator color to change (ie. Daily closes red but 4 hours later it changes to blue if the pair is above the previous close).

Thanks I look forward to working with you all.

I attached a sample of my chart setup. I may remove the APB calculator since I added the figures to the TDI window.
Attached Image (click to enlarge)
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