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Trading Made Simple

  • #70,061
  • Jul 8, 2016 9:41pm Jul 8, 2016 9:41pm
Quoting emmanuel7788
My believe is there is no such thing as 'stress free trading' when you are trading with real money, your hard-earned money. If you are still trading with your hard-earned money, you do not have your winning edge and you will still lose more of your money. The "secret" to making money is still this thingy known as Money Management. If you have not read the Money Management Report, here is the link: http://www.forexfactory.com/attachme...3&d=1457172259
I absolutely agree....
Simplicity is the ultimate sophistication - Leonardo da Vinci
  • #70,062
  • Jul 9, 2016 4:24am Jul 9, 2016 4:24am
Quoting emmanuel7788
{quote} EURAUD Week 27 trades closed. Manually close at BRN. Next week will still be sell only but there will be corrections, so how do we trade this pair next week? {image}
Thank you Sir. After closing the EURAUD sell position, you did not reenter a new position. Are you expecting a pullback next week (hence planning to enter at a better price during the pullback)? If so, why?

Thank you.
  • #70,063
  • Jul 9, 2016 6:06am Jul 9, 2016 6:06am
Quoting antonym
{quote} Thank you Sir. After closing the EURAUD sell position, you did not reenter a new position. Are you expecting a pullback next week (hence planning to enter at a better price during the pullback)? If so, why? Thank you.

Hi,

There will be opportunity to sell on Monday morning. Correction is imminent with strong AUD. I trade with ME/ME I don't worry with the correction.
Also must pay attention to the elections results with the votes counting still ongoing and will be completed next week. As t stands today, the coalition will most likely win the next term. How will the market react next week? My view is there will continuity in the Government hence the confidence is there. Good for AUD.
My concern is with the other EURxxx pairs next week.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #70,064
  • Jul 9, 2016 6:18am Jul 9, 2016 6:18am
Quoting emmanuel7788
{quote} Hi Plutodev, Here are some old posts which will help you test and decide on the TDI. Traders Dynamic Index description: Post#18,264 Post#24,705 If you want to trade the way Big E described in Post#1, make sure you use his template , the Synergy APB / HA candles and use that TDI Red Green version. These are in Post#25....
Hi emmanuel,
thanks for your sharing about TDI
i have read about TDI,
now i want to learn about price action,

could you give the tips or the link where i can learn about price action.
  • #70,065
  • Jul 9, 2016 7:09am Jul 9, 2016 7:09am
Quoting plutodev
{quote} Hi emmanuel, thanks for your sharing about TDI i have read about TDI, now i want to learn about price action, could you give the tips or the link where i can learn about price action.
Hi,

If you search this thread using keyword: PASR you will find many posts.

But start with this post:

PASR=Price Action Support and Resistance

Start with this Post# 53,670

no hurry, take your time and read each post, take notes and make your own trading manual.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #70,066
  • Jul 9, 2016 9:06am Jul 9, 2016 9:06am
Quoting antonym
{quote} Thank you Sir. After closing the EURAUD sell position, you did not reenter a new position. Are you expecting a pullback next week (hence planning to enter at a better price during the pullback)? If so, why? Thank you.
Look at E/A m30 on the 7th. You see it came down form a lower top. If you look at that as the first down leg of a 1-2-3 pattern, it went about 55 bars. The following retracement went up for about 40 bars and about 60% price retrace. Just use that 2nd high in the double top for the end of leg 2 and start of leg 3. The following down leg has gone only about 30 bars but has already gone the length of leg1; it is extremely common for leg1 and leg 3 to be the same length. So, this gives a suggestion that the down leg could be over for this price chart and a new up leg begin. Note I said down leg and not down trend.

(Note the H4 might be considered as the next chart in line that needs to go into an uptrend. However, the H2 did not really make an uptrend with conviction, so we should probably put it next in line instead. Every chart below the H2 has already made an uptrend with conviction and a return back down. So every chart below H2 is overdue to get into an uptrend.)

Before the market can turn around and be in a big-level uptrend, every chart below the h4 has to get into an uptrend, stay in the uptrend while it retraces, then make a continuation up far enough that the next chart above it can go into an uptrend. Every time a bigger chart goes into a new uptrend, it must not fail on its retracement and go into a down trend. If it does, it's back to chart 1 and working up through them again.

The only way we will see the market make a big turn up is when the money makers finish all this selling, do their little game playing to pull in maximum number of bulls and bears so they can have plenty of contracts in both directions to whip us around, do fake breakouts, stop hunting, and all their tricks for sucking dry us retail traders while doing their final bit of distribution.
To free Gazans of Hamas, use whatever it takes.
  • #70,067
  • Jul 10, 2016 5:06am Jul 10, 2016 5:06am
Quoting emmanuel7788
{quote} Hi, There will be opportunity to sell on Monday morning. Correction is imminent with strong AUD. I trade with ME/ME I don't worry with the correction. Also must pay attention to the elections results with the votes counting still ongoing and will be completed next week. As t stands today, the coalition will most likely win the next term. How will the market react next week? My view is there will continuity in the Government hence the confidence is there. Good for AUD. My concern is with the other EURxxx pairs next week. regards,
Ok I see. Thank you Sir. I see that apart from EURNZD and EURAUD, other EUR pairs are still within the Brexit WRB range. Would it be possible for you to share your BPP of one of those pairs. Which one do you think has the best selling potential?

Thank you.
  • #70,068
  • Jul 10, 2016 6:46am Jul 10, 2016 6:46am
Quoting antonym
{quote} Ok I see. Thank you Sir. I see that apart from EURNZD and EURAUD, other EUR pairs are still within the Brexit WRB range. Would it be possible for you to share your BPP of one of those pairs. Which one do you think has the best selling potential? Thank you.
Aussie Elections results: Labour concedes defeat so Liberal/National Coalition wins.
expect gap when NY open later.

here the easy one EURAUD:

Attached File(s)
File Type: pdf EURAUD Week 28 D1 chart trade plan.pdf   507 KB | 769 downloads


tonight big match so I sleep now and wake up in 5 hours to see France win the Euro2016...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #70,069
  • Jul 10, 2016 11:21am Jul 10, 2016 11:21am
Hi Emm,

1)Im using HA chart, are we able to see the price action?
2) if im trading 4H, once tdi crosses, what else do i look for to confirm the trade?do we enter straight in the next candle??
3)what happen if i enter the trade when tdi crosses , theb on the the second or third candle bar it went in the opposite directions? If it a wrong trade?
  • #70,070
  • Jul 10, 2016 12:17pm Jul 10, 2016 12:17pm
NZDUSD for next week - this looks the best from all commodity majors, having just broken through 2016 highs. I will be looking to go long with targets 100 and 200 pips away.
Good luck to all!

Attached Image (click to enlarge)
Click to Enlarge Name: Unbenannt.png Size: 86 KB


Quoting jeff90
Hi Emm, 1)Im using HA chart, are we able to see the price action? 2) if im trading 4H, once tdi crosses, what else do i look for to confirm the trade?do we enter straight in the next candle?? 3)what happen if i enter the trade when tdi crosses , theb on the the second or third candle bar it went in the opposite directions? If it a wrong trade?
Heiken Ashi is going to smooth price action so you don't freak out every time a bar changes color. Since I use H4 charts, once a HA closes in different color and has a large enough body, I am looking to exit the trade. If it closes without body, or the trend is strong, I will tighten my stops and ride it out.
Best regards, Zef
  • #70,071
  • Jul 10, 2016 12:35pm Jul 10, 2016 12:35pm
Quoting emmanuel7788
{quote} Aussie Elections results: Labour concedes defeat so Liberal/National Coalition wins. expect gap when NY open later. here the easy one EURAUD: {image} tonight big match so I sleep now and wake up in 5 hours to see France win the Euro2016...
I go for France too.
Btw, you mention about ME/ME so much. However, I cant find any information of the EA. Coul you help me to clarify this out.
  • #70,072
  • Jul 10, 2016 7:55pm Jul 10, 2016 7:55pm
Quoting cmhoahongxan
{quote} I go for France too. Btw, you mention about ME/ME so much. However, I cant find any information of the EA. Coul you help me to clarify this out.

France did not win....

If you are looking for an auto-trading robot EA, there is none.

you can look for any trade manager expert advisor which can manage basket of trades in same pair and uses Magic Number aka EAN in its trade management.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #70,073
  • Jul 10, 2016 7:56pm Jul 10, 2016 7:56pm
Quoting ZeF
NZDUSD for next week - this looks the best from all commodity majors, having just broken through 2016 highs. I will be looking to go long with targets 100 and 200 pips away. Good luck to all! {image} {quote} Heiken Ashi is going to smooth price action so you don't freak out every time a bar changes color. Since I use H4 charts, once a HA closes in different color and has a large enough body, I am looking to exit the trade. If it closes without body, or the trend is strong, I will tighten my stops and ride it out.

very good trading tip.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #70,074
  • Jul 10, 2016 8:08pm Jul 10, 2016 8:08pm
Quoting jeff90
Hi Emm, 1)Im using HA chart, are we able to see the price action? 2) if im trading 4H, once tdi crosses, what else do i look for to confirm the trade?do we enter straight in the next candle?? 3)what happen if i enter the trade when tdi crosses , theb on the the second or third candle bar it went in the opposite directions? If it a wrong trade?
1)Im using HA chart, are we able to see the price action?

Yes. You should be able to see and trade the price action using the APB/HA candles. If you are trading price action with Price Bar Patterns, you can look at the Bar Chart over the APB/HA candles in the background.

2) if im trading 4H, once tdi crosses, what else do i look for to confirm the trade?do we enter straight in the next candle??

Here below is Big E's post #647:

Your safest trades will always be when green crosses red and you enter on candle 1 or 2... odds are in your favor. Why? Because I'm expecting 3-8 candles... which is average...

With bounce trades the odds are lower for your success... but it still works.

When wanting to enter a TDI trade... take a moment first to observe basic 4x things... like:

How close am I to the previous high or lo

Am I in an uptrend or downtrend.. short & long term...

Am I in or close to a consolidation area

Are the previous candles small...

Look at the candles on the last reversal... big, little, what

How does the momentum look right now (12-2, 4-6)

Does Stoch's confirm the TDI signal

Sounds like a lot of stuff but it's basic stuff and only takes a moment to observe it...

If you don't already know these things... don't trade live yet... www.babypips.com is a good place to learn about the basics of trading 4X.


3)what happen if i enter the trade when tdi crosses , theb on the the second or third candle bar it went in the opposite directions? If it a wrong trade?

I would always look at the next higher TF when I trade. When I trade H4, then the W1 timeframe is my dominant trend.
There is no such thing as "a wrong trade". We trade the setups we see on our charts. All trades trade can either be a good trade (win) or a bad trade (loss). It depends on your entry and exits. Every trade must have one entry and two exits, why?
how you want to exit depends on your exit strategy. If you follow Big E post#1, he has his exit strategy the price action and TDI for entry and exit. make sure you use the TDI Red Green when you want to trade like in Post#1. I don't use this TDI Red Green because I am not a reversal trader like Big E and I can stay in the trade much longer using a different TDI version and settings.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #70,075
  • Jul 11, 2016 1:21am Jul 11, 2016 1:21am
USDJPY Week 28 Jul 11 - H4 trade

What to do when there is a valid setup but you missed the entry when the new H4 candle open?

Late entry, use ME approach.

Attached Image (click to enlarge)
Click to Enlarge Name: USDJPY Week 28 Jul 11 H4 trade TOK.png Size: 30 KB


also EURJPY H4:

Attached Image (click to enlarge)
Click to Enlarge Name: EURJPY Week 28 Jul 11 H4 trade TOK.png Size: 21 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #70,076
  • Jul 11, 2016 1:56am Jul 11, 2016 1:56am
Quoting emmanuel7788
USDJPY Week 28 Jul 11 - H4 trade What to do when there is a valid setup but you missed the entry when the new H4 candle open? Late entry, use ME approach. {image} also EURJPY H4: {image}
Tks for your reassuring post. I missed the H4 Open but entered on UJ/EJ/GJ about half an hour before coming across your post. To be honest, I hesitated quite a bit when making the entries. Also, I caught NU short.
  • #70,077
  • Jul 11, 2016 2:26am Jul 11, 2016 2:26am
Quoting kiwimark
{quote} Tks for your reassuring post. I missed the H4 Open but entered on UJ/EJ/GJ about half an hour before coming across your post. To be honest, I hesitated quite a bit when making the entries. Also, I caught NU short.

Don't thank me. You need to build confidence through more trading experience.

The 4 JPY pairs gave valid alerts with steep TDI C-slope. I pick UJ and EJ based on the price action, breakout of consolidation.

Attached Image (click to enlarge)
Click to Enlarge Name: TMS Monitor H4 alerts.png Size: 18 KB


USDJPY H4 trade closed +50pips.

Attached Image (click to enlarge)
Click to Enlarge Name: USDJPY Week 28 Jul 11 H4 trade clsoed.png Size: 23 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #70,078
  • Jul 11, 2016 2:36am Jul 11, 2016 2:36am
Quoting emmanuel7788
{quote} Don't thank me. You need to build confidence through more trading experience. The 4 JPY pairs gave valid alerts with steep TDI C-slope. I pick UJ and EJ based on the price action, breakout of consolidation. {image} USDJPY H4 trade closed +50pips. {image}
Nevertheless I say thank you. I need to win to build up confidence.
  • #70,079
  • Jul 11, 2016 3:48am Jul 11, 2016 3:48am
Hi Emmanuel,

Been following your posts for some time and have to say been EXTREMELY! helpful ... TRULY can't Thank you enough.

Request ..can I kindly ask your settings for TMs monitor....

Also with regard to your 4 Hr trades are there any specific times you enter and exit ..eg open during Asian and close trade into London open ..as seems you have today.

I trade the 1 hr at London open and USA open ..would really appreciate your thoughts on risk reward why you feel 4 hr is better (as I know you are right in your thnking ,but I just cant seem to make the transition over to 4 Hr and daily as always been scalp trader )...Thanks
  • #70,080
  • Jul 11, 2016 4:07am Jul 11, 2016 4:07am
Emmanuel

Following my previous post your thoughts on this 4 hr signal few minutes back ...would you enter ?

many Thanks
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