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Trading Made Simple

  • #70,021
  • Jul 7, 2016 11:46am Jul 7, 2016 11:46am
Quoting wannalearn12
Is this looking good for a short on the H4? {image}

you H4 candle has not close yet ...34 mins to go.

must wait till candle close to confirm as setup candle.

note that Weekly is sideways and this week this pair already made swing high and swing low.

also the timing of the market now after London close is not a good time to enter the market.

but we never know, you can make some pips now until Tokyo open tomorrow.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #70,022
  • Jul 7, 2016 11:47am Jul 7, 2016 11:47am
Quoting Mbt
{quote} Hello Emm, what do you think of NZD/CHF and NZD/CAD. The PA is about to break the high of the brexit week candle. If the D1 candle closes above the high of the weekly candle, can we look for long entries on h4 and target the next big resistance at 0.74000? I would very appreciate your opinion on these pairs. {image} {image}

strong kiwi ...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #70,023
  • Jul 7, 2016 12:06pm Jul 7, 2016 12:06pm
Quoting emmanuel7788
{quote} you H4 candle has not close yet ...34 mins to go. must wait till candle close to confirm as setup candle. note that Weekly is sideways and this week this pair already made swing high and swing low. also the timing of the market now after London close is not a good time to enter the market. but we never know, you can make some pips now until Tokyo open tomorrow.
I closed it. at plus 15
  • #70,024
  • Jul 7, 2016 1:49pm Jul 7, 2016 1:49pm
Quoting wannalearn12
Is this looking good for a short on the H4? {image}
AUDUSD H4

Although EEL did not really like using moving averages, I urge you to try the SMA50. Basically, the H32 chart is controlling the trend and it is trending up. (I know, I know, you use MetaTrader and don't have such charts. And sorry, but don't I have HA candles on this platform yet.) So, you are looking for a lower chart to make a pullback (leg 2), then go up on a leg 3 continuation. This FOCUS chart WAS the H4. You see I marked where your 2 buys would have been. The 1st one is actually leg1 of the pullback which I often don't trade, but the H4 is a big enough chart to make it worthwhile. So, as we see here, I want to see on this leg 1 the TDI green and red go down to the lower VB. I like to use the red hit yellow for a 1st TP, and then drop to the H1 and look for price to MOSTLY stay above the SMA50 while looking where obvious resistance is seen looking left. If it is significant, I go flat there and move to next setup. If it looks weak and price retraces very little , I'll move up my stop to a few pips below the SMA50 and either get stopped out or look for a logical place to make an exit.

With that said, if you are willing to do counter-trend trades against the H32 uptrend, then have at it. I would drop down to m30 and m15 to check for setups.

I should add that when you start going down the charts, you need to find one where the sma50 has price below it AND sma50 has definite down slope. At the moment, that is m15. M30 sma50 is still flat.

Also note the lower top on the H4, mirrored in the TDI red; be alert for at least H1 to make a good turn down if m30 makes one.
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD H4.png Size: 74 KB
To free Gazans of Hamas, use whatever it takes.
  • #70,025
  • Jul 7, 2016 2:16pm Jul 7, 2016 2:16pm
ok, time to stop today. It was a great morning but a very bad afternoon. Market was jumping around. the weakness of the system is during sideways market.
AND most importantly me being busy with 10 things at once. So lost some of the gains of the morning but gained back some. Also i had installed Cave manager last night whicht was managing my trades to Breakeven after 15pips. That was too tight for GBP pairs as they are quite volatile at the moment. It closed some of my trades right before they continued to go the right way. So i'm switching off Breakeven function for now. That was quite frustrating...

Net +71pips for today. Still happy.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 242 KB
  • #70,026
  • Jul 7, 2016 2:20pm Jul 7, 2016 2:20pm
Quoting wannalearn12
{quote} I closed it. at plus 15
Nice!

Now take a look at m15 and m5. Look where m5 DEFINITELY has sma50 sloped down and mark it. Now go to m15 and look where that mark is. On my chart, the m15 makes a retrace back up to sma50, so when it turned back down, there is a TDI green x red down for a sell. Green and red are already below the TDI yellow, so I would treat that as a leg 3. Leg 1 started about 20 bars before that. However, even on the m5, the sma50 was sloped up, so I would not have sold on that leg1.

But..., continuing with m5, IF I were in the mood to take a riskier trade, I would look for the TDI yellow, which is a good momentum indicator, so slope down and then look for red to go up and at least touch yellow (better if it crosses above yellow), and if the entry rules for a sell are met, I'll take that. In this example, the sma50 is still flat, but the yellow tends to lead it. Less risky is as I said before: Wait for sma50 to get sloped down on m5. After entry, I would check the m30 to see what is developing. Unfortunately, that is a bit far away from m5, so m5 will usually retrace before m30 shows the sma50 in a down slope.
To free Gazans of Hamas, use whatever it takes.
  • #70,027
  • Jul 7, 2016 6:03pm Jul 7, 2016 6:03pm
Quoting Downunder
{quote} Hi tibovwh EA only placed positions in direction of trend, for these UJ results Post 69,963 only sell positions. The EA closes the basket when TP or SL is hit, if two positons only then ME1 & ME2 are closed at BE of ME1 (ME2 in profit) then reentry start of new basket. My TP moves as more retracement positions are added so that TP will always be set amount of pips away from BE of average open price. with >2 positions the EA closes all but the last position at BE...

Hi,

here is my EU trades.
example how I closed 2 trades at breakeven (one winner, one loser) and left the last open trade running.
but now with a new day open, I manually close that trade and re-open a new trade to start a new basket/position.
this trade(s) will run into next week according to plan.

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD Week 27 trade update Jul 8.png Size: 38 KB


Trade Well.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #70,028
  • Jul 7, 2016 6:42pm Jul 7, 2016 6:42pm
Quoting emmanuel7788
{quote} Hi, here is my EU trades. example how I closed 2 trades at breakeven (one winner, one loser) and left the last open trade running. but now with a new day open, I manually close that trade and re-open a new trade to start a new basket/position. this trade(s) will run into next week according to plan. {image} Trade Well.
Hi Emm,

I really like the detailed posts. Thanks a bunch! Still some questions tho: See attached chart.

So:

If you have two open positions, your TP is set how far from the avg entry price? Is this TP distance the same as the add-on distance?

If you have three open positions, you set TP of entry 1 & 2 to BE. What is the TP of entry 3?

Best,
  • #70,029
  • Jul 8, 2016 12:48am Jul 8, 2016 12:48am
Quoting emmanuel7788
{quote} the parameter DebugLogger = true will... {image}
ok thank you but may I ask you what are these information helpfull for ?
  • #70,030
  • Jul 8, 2016 1:56am Jul 8, 2016 1:56am
Quoting bodal
{quote} ok thank you but may I ask you what are these information helpfull for ?

don't worry about the DebugLogger data.
just use the ADR high low lines on your chart .
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #70,031
  • Jul 8, 2016 2:01am Jul 8, 2016 2:01am
Quoting tibovwh
{quote} Hi Emm, I really like the detailed posts. Thanks a bunch! Still some questions tho: See attached chart. So: If you have two open positions, your TP is set how far from the avg entry price? Is this TP distance the same as the add-on distance? If you have three open positions, you set TP of entry 1 & 2 to BE. What is the TP of entry 3? Best,

Hi,

For Position Trading on Day chart, I use those monthly price swing levels for my target profit. I simply trade between those levels i see on my big picture plan.

With position building, the average entry price is only to show what it is intended for. I do not set TP based on individual trade but I look at the price action and the market condition to see if the market will reach those MN swing level.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #70,032
  • Jul 8, 2016 4:35am Jul 8, 2016 4:35am
Quoting emmanuel7788
{quote} Hi ZawPow, I am quite sure he is making money because he is trading the original method with his own money management and risk management. He is an astute person and aspiring professional trader. The original 5-Method works best in both trending and wide range sideways market types. We avoid to trade when market is in consolidation , narrow range sideways market type. Also to add, if we focus our tradin in the H4 and D1 chart timeframes, and use %risk and position sizing strategy, our chances of success are very high. regards, Edit. Add...

AUDCAD Week 27 D trade:

the last time we talked about this pair, did anyone take the trade?
the setup was good on Day chart and direction on Day chart was also clear but the PA was in the H4 consolidation range.
Attached Image (click to enlarge)
Click to Enlarge Name: AUDCAD Week 27 D trade BE.png Size: 37 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #70,033
  • Jul 8, 2016 5:03am Jul 8, 2016 5:03am
Quoting emmanuel7788
{quote} Hi, here is my EU trades. example how I closed 2 trades at breakeven (one winner, one loser) and left the last open trade running. but now with a new day open, I manually close that trade and re-open a new trade to start a new basket/position. this trade(s) will run into next week according to plan. {image} Trade Well.
Very good, take what the market gives you and reopen basket for the next week according to the plan..
By failing to prepare, you are preparing to fail - Benjamin Franklin
  • #70,034
  • Jul 8, 2016 6:25am Jul 8, 2016 6:25am
NFP in about one hour.
The market direction in the higher timeframe will not change.
If a pair is sideways, it will remain sideways.
If a pair is trending, it will remain trending.
If you are trading H1 and smaller timeframes, this is where you will be slaughtered by the smart money.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #70,035
  • Jul 8, 2016 6:40am Jul 8, 2016 6:40am
EURNZD Week 27 D1 chart trades closed before NFP.

Attached Image (click to enlarge)
Click to Enlarge Name: EURNZD Week 27 D chart trade closed.png Size: 34 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #70,036
  • Jul 8, 2016 8:06am Jul 8, 2016 8:06am
tester Ea 6 month TMS system done
Attached Image (click to enlarge)
Click to Enlarge Name: StrategyTesterdone.gif Size: 8 KB
  • #70,037
  • Jul 8, 2016 8:07am Jul 8, 2016 8:07am
Quoting emmanuel7788
EURNZD Week 27 D1 chart trades closed before NFP. {image}
Hi emmanuel
Were you using a trail for these two positions before you manually closed before NFP. I am currently running previous back testing with 15TDI signal as apposed to trailing stop and looks like it closes positions earlier in the run so missing out on potential profit, as you can imagine the 15min TDI will cross many times during a daily candle, may have to add some additional conditions to let it run more. Will put up some comparison trades when testing finished.
Whats you thoughts on trailing with 15TDI signal as opposed to using trailing stop?
By failing to prepare, you are preparing to fail - Benjamin Franklin
  • #70,038
  • Jul 8, 2016 8:41am Jul 8, 2016 8:41am
Quoting emmanuel7788
EURNZD Week 27 D1 chart trades closed before NFP. {image}
Great work man! Your kindness and knowledge are admired.
Btw, how should I use ADR lines with TMS? As I found some posts in the thread, they mention about some multiple coefficient such as 0.5*ADR. How do you use it?
  • #70,039
  • Jul 8, 2016 8:42am Jul 8, 2016 8:42am
guys ea done but i need to test 1-3 years how to do
  • #70,040
  • Jul 8, 2016 9:20am Jul 8, 2016 9:20am
Quoting davson90
guys ea done but i need to test 1-3 years how to do
Open a micro live account on a vps, let i run for 3 years, then you will have real usable data.

Btw, open a thread in platform tech.
MY SITTING, NEVER MY THINKING!
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