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Trading Made Simple

  • #70,341
  • Jul 25, 2016 3:54am Jul 25, 2016 3:54am
Hi guys,

Hope everybody had a good weekend.

Question. Do you have a rule about waiting for a trade to go in to profit or do you cut the loss early if it doesn't go your way within a reasonable time period?

Thanks
  • #70,342
  • Edited 5:36am Jul 25, 2016 4:08am | Edited 5:36am
Hi Folks....

since few days i trade this system. And yes im too beginer. Please dont slap me

what do you say about EURCAD

UP?
Attached Image(s) (click to enlarge)
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mia san mia since 1900
  • #70,343
  • Edited 6:13am Jul 25, 2016 5:58am | Edited 6:13am
Quoting LazyTrad3r
Hi Folks.... since few days i trade this system. And yes im too beginer. Please dont slap me what do you say about EURCAD UP? {image} {image}
that's a nice one taken on H4. Good for 100 pips when I look at the W1 price action.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #70,344
  • Jul 25, 2016 6:12am Jul 25, 2016 6:12am
Quoting Groves
Hi guys, Hope everybody had a good weekend. Question. Do you have a rule about waiting for a trade to go in to profit or do you cut the loss early if it doesn't go your way within a reasonable time period? Thanks

you can learn to use the APB/HA candles and manage your trades.
I look at the real price bars and want to see it makes higher high, higher low for buy trades, low high, lower low for Sell trades,
the APB/HA body must be of the same colour and there must not be long wicks below for Buy, long wick above for Sell.

When Big E mentioned look at the PA, he was always referring to the PA using the APB candles.


Attached Image (click to enlarge)
Click to Enlarge Name: Price Bar and APB.png Size: 70 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #70,345
  • Jul 25, 2016 6:20am Jul 25, 2016 6:20am
Quoting emmanuel7788
{quote} that's a nice one taken on H4. Good for 100 pips when I look at the W1 price action.
Hi EM and thx 4 your flowers^^You say maybe its good for 100 pips....where you see the TakeProfit. And SL? Whats is your opinion ? I want learn so i hope you understand.
mia san mia since 1900
  • #70,346
  • Jul 25, 2016 6:21am Jul 25, 2016 6:21am
Quoting emmanuel7788
{quote} that's a nice one taken on H4. Good for 100 pips when I look at the W1 price action.
Hi EM and thx 4 your flowers^^You say maybe its good for 100 pips....where you see the TakeProfit. Whats is your opinion ? I want learn so i hope you understand.Thx 4 adviceLT
mia san mia since 1900
  • #70,347
  • Jul 25, 2016 6:35am Jul 25, 2016 6:35am
Quoting LazyTrad3r
{quote} Hi EM and thx 4 your flowers^^You say maybe its good for 100 pips....where you see the TakeProfit. Whats is your opinion ? I want learn so i hope you understand.Thx 4 adviceLT

Look at W1 candles .. look at most recent price close as swing levels and support and resistance.... 1.45359
Attached Image (click to enlarge)
Click to Enlarge Name: EURCAD W1 target level for H4 swing.png Size: 49 KB


the H4 candles, watchout for reaction at BRN, mostly will pull back because some buyers will exit at BRN.

Attached Image (click to enlarge)
Click to Enlarge Name: EURCAD H4 BRN reaction.png Size: 50 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #70,348
  • Jul 25, 2016 6:57am Jul 25, 2016 6:57am
ok thx a lot for this super pictures!

Can you tell me at least any about your SL.....maybe in this Trade?

thx EM
mia san mia since 1900
  • #70,349
  • Edited 7:16am Jul 25, 2016 7:02am | Edited 7:16am
Quoting caah
{quote} Hi All Emmanuel from my analysis i agree re EURNZD, GBPNZD, also NZDUSD room to move to downside till ~BRN 6900 or lower support of ~6700. For visual purposes i have include two charts- USDCAD & EURJPY. USDCAD- Monthly Resistance above- 1.316 then last week high ~1.318, Patience to buy H4 dips i.e. H4 pullback to BRN ~ 1.31 before bullish run continues. On H4 look for clumps of 3 around support & PA to confirm swing change {image} EURJPY- Daily- MC then IB formed inside. Watch PA & TDI. Above last weeks high = room upside to ~ 121 or PA...
I'm still a rookie but after reading Emmanuel's post regarding EN & GN here is what I found.

EN - Bounced off the 50EMA, prev support, and 38.2 FIB (confulence).

GN - Not as clear however daily shows engulfing candle.

NU - Stalled @ previous support & 61.8 FIB.

I am in "WATCH MODE" for Long - EN & GN and Short - NU.
Successful people do what unsuccessful people are not willing to do
  • #70,350
  • Jul 25, 2016 7:18am Jul 25, 2016 7:18am
Quoting LazyTrad3r
Hi Folks.... since few days i trade this system. And yes im too beginer. Please dont slap me what do you say about EURCAD UP? {image} {image}
I agree nice trade I missed that one sleeping. I may enter on H4 or H1 if I see a pullback.
Successful people do what unsuccessful people are not willing to do
  • #70,351
  • Jul 25, 2016 7:21am Jul 25, 2016 7:21am
Quoting LazyTrad3r
ok thx a lot for this super pictures! Can you tell me at least any about your SL.....maybe in this Trade? thx EM

for initial stop loss, I use the last swing low or below the recent consolidation area.
see example below.

Attached Image (click to enlarge)
Click to Enlarge Name: EURCAD H4 initial SL and move.png Size: 29 KB


when this current H4 candle close,

two options:

1) move the SL to below the setup candle. This will reduce the overall loss in case the price reverses.

2) Keep the initial SL where it is, scale-out 50% percent of the trade and this profit will reduce the overall risk should the price reverses and hit the SL. Let the remaining 50% of the trade run and let it hit the TP.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #70,352
  • Jul 25, 2016 7:24am Jul 25, 2016 7:24am
Quoting TampaFX
{quote} I agree nice trade I missed that one sleeping. I may enter on H4 or H1 if I see a pullback.

Thx & GL Tampa
mia san mia since 1900
  • #70,353
  • Jul 25, 2016 7:30am Jul 25, 2016 7:30am
Quoting emmanuel7788
{quote} for initial stop loss, I use the last swing low or below the recent consolidation area. see example below. {image} when this current H4 candle close, two options: 1) move the SL to below the setup candle. This will reduce the overall loss in case the price reverses. 2) Keep the initial SL where it is, scale-out 50% percent of the trade and this profit will reduce the overall risk should the price reverses and hit the SL. Let the remaining 50% of the trade run and let it hit the TP.
THX EM . Your advice is very easy to understand. Your Screens are very simple. I will now sleep 4 hours. its 06.29 hahahaahha
mia san mia since 1900
  • #70,354
  • Jul 25, 2016 8:58am Jul 25, 2016 8:58am
hello guys..
any review for this situation?

EURCAD H4
Attached Image (click to enlarge)
Click to Enlarge Name: EURCAD H4 25-07-2016 20.45 review.jpg Size: 310 KB


is it time to take long position?
but the price is toward major resistance, am i right?
should we just better watch this price where they gonna go?
thanks
  • #70,355
  • Jul 25, 2016 9:58am Jul 25, 2016 9:58am
Quoting emmanuel7788
{quote} USDCAD - I am in buy mode. EURJPY - no trade now. I have USDJPY and AUDJPY buy mode. GBPUSD D1 chart, price in contraction, so there is opportunity for expansion into volatility. Wait for the right moment when price enters into buy/sell zone.
what ur reason for buy USDCAD emma ? what i see is PA in resistence zone
2% target/Month !
  • #70,356
  • Jul 25, 2016 11:11am Jul 25, 2016 11:11am
Quoting emmanuel7788
{quote} you can learn to use the APB/HA candles and manage your trades. I look at the real price bars and want to see it makes higher high, higher low for buy trades, low high, lower low for Sell trades, the APB/HA body must be of the same colour and there must not be long wicks below for Buy, long wick above for Sell. When Big E mentioned look at the PA, he was always referring to the PA using the APB candles. {image}
Superstar!
  • #70,357
  • Jul 25, 2016 2:09pm Jul 25, 2016 2:09pm
Quoting irvanhidan
{quote} what ur reason for buy USDCAD emma ? what i see is PA in resistence zone
Look at the Weekly Chart very different situation.

Sadly I missed this entry on 7/20 last week on the Daily Chart. I'm waiting for a retrace on H4.....
Successful people do what unsuccessful people are not willing to do
  • #70,358
  • Jul 25, 2016 2:32pm Jul 25, 2016 2:32pm
Here are my todays trading and notes. Im on the holiday at south of France so not much time for trading.
I made a mistake with GBPUSD and GBPNZD. As GBPNZD moves like crazy and I went to the beach it had hit SL by the time I came back. But I could play almost breakeven on GBPUSD. So overall a little profit today.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot2.png Size: 145 KB
Attached File(s)
File Type: pdf 25-7 AUDUSD.pdf   559 KB | 490 downloads
File Type: pdf 25-7 GBPUSD.pdf   538 KB | 488 downloads
File Type: pdf 25-7 USDJPY.pdf   752 KB | 389 downloads
File Type: pdf 25-7 GBPJPY.pdf   399 KB | 401 downloads
File Type: pdf 25-7 GBPNZD.pdf   529 KB | 426 downloads
  • #70,359
  • Jul 25, 2016 4:21pm Jul 25, 2016 4:21pm
Quoting emmanuel7788
{quote} hi Rims, yes, I did very briefly and I tried to look at your trades and your trading hours. but your chart's zoom size and colours make it difficult for my eyes to see the details. so I look at your trade summary report. I think your approach using the H4 and D1 as the direction is good when you trade M15 and H1. Based on your trading hours, you need to pay attention to the overlap hours of the London session with the NY session when you have trades open during the London session. For H1 and M15 trades, I would normally closed them before...
Thanks Emmanuel, i stay away from news. Only take a trade when i know i can close the trade before Medium/high news announcement. Thats why i have FF calender always on the chart. For news trading i've an ea that does its work, no need to double up on that...news is a different kind of business

My trade durations are very variable. I try to get perfect entries to run a trade for 1 or 1,5hours. When it takes longer, there is almost always bad entry. Problem is, when TDI gives you the signal on H1 you HAVE to go down to M15 to see if you are not buying at the temporary high. If so, you need to have patience and wait the consolidation wave first. At times i'm impatience, it happens to me and i've to wait over 3 hours and look at my trade in DD but its learning by doing. Getting better at it.
1 thing i find very very difficult are the cross pairs. They can go up/down like hell before they go the right way. Very difficult pairs to trade on intradays basis. So i only trade them when i see them going... still, today i made the mistake with GBPNZD. Its like, man is ment to be hard in learnings
ok, enough nagging. No complains. I love TMS.
  • #70,360
  • Jul 25, 2016 5:34pm Jul 25, 2016 5:34pm
Quoting TampaFX
{quote} Look at the Weekly Chart very different situation. Sadly I missed this entry on 7/20 last week on the Daily Chart. I'm waiting for a retrace on H4.....
Still confusing about this,what i see is weekly chart not a good trade,pleasee help me to understand this and step2 by step analysis about this method
2% target/Month !
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