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Trading Made Simple

  • #73,041
  • Nov 4, 2016 4:49am Nov 4, 2016 4:49am
Quoting Daniel 777
{quote} Entered 1 hr TMS set up on NZD/USD. {image}
Closed out before NFP - trade just sat in narrow range - made a mistake entering too close to NFP.
  • #73,042
  • Nov 4, 2016 5:44am Nov 4, 2016 5:44am
Have closed MT4, that's it for this week and very unlikely to trade before the US election unless it's an entry where 'all ducks are aligned'. A positive week but nothing to write home about however, I did learn a lot from everybody's inputs these last weeks and it has helped enormously. You can spend over 30 years in The City (which I did) but that doesn't mean you know how to trade. (much easier with other peoples money!).

Thank you all and have a great weekend Mine has just started
All for one and one for all
  • #73,043
  • Nov 4, 2016 6:25am Nov 4, 2016 6:25am
Quoting emmanuel7788
{quote} One hour after Tokyo open is a new H4 candle... i.e GMT 0900. Is this what your trading chart shows?
Hi emmanuel,
sorry for the same question again,
seem my broker's server time is GMT+2. hence the 4hour candle open 3 hour after the Tokyo market open...
and from Google, seem I cannot change it.

May I ask for a suggestion on which broker can have a correct time?
Thanks
  • #73,044
  • Nov 4, 2016 7:21am Nov 4, 2016 7:21am
Quoting fleurdelys
bad week for me yesterday. lost on eur usd, aud jpy and usd jpy h4 I try to understand my mistakes ...not easy ^^ {image} With the US election approaches, the volatility increases.
good work fleurdelys ....... keep ask'n this question when u get loses ....... my 2 pips ...... the BRN80 is a huge D1 resistance ....... just b aware its there & watch PA ..... read omonisha's superb analysis 2 get a idea of wat u need [also IMO u need RN indi like wat Big E used - grid10] - IMO good analysis should take a few minutes per trade otherwise u will confuse urself the more u do ...... keep going buddy
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  • #73,045
  • Nov 4, 2016 7:25am Nov 4, 2016 7:25am
Quoting fleurdelys
griffinssoul : Hello, the moving average does not seem to be a MA 5? Typical Expodentielle?
thats right fleurdelys - its MA 1 - not MA 5

Quoting hsn100
CADCHF D1..... {image}
this is just superb trade'n ....... it seems so simple it might just b impossible
  • #73,046
  • Nov 4, 2016 7:37am Nov 4, 2016 7:37am
Quoting hsn100
CADJPY D1 chart..... {image} NZDCAD D1 chart..... {image} NZDUSD D1..... {image}
if u keep do'n these superb & simple trades u will b asked 2 leave the thread ....... amazing trade'n buddy - a joy 2 see this
  • #73,047
  • Nov 4, 2016 8:33am Nov 4, 2016 8:33am
gj ga runing trade
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  • #73,048
  • Nov 4, 2016 10:32am Nov 4, 2016 10:32am
Looks like I am ending Break even on the week with my UsdCad Long, thanks to Oil popping higher, price missed take profit by 15 pips... some 210 pips with ME.ME potential lost...

This is why you need tough mental fitness that Emmanuel talks about..

Onto the next week...
It's in fear when people show what they truly value.
  • #73,049
  • Nov 4, 2016 4:36pm Nov 4, 2016 4:36pm
Quoting emmanuel7788
USDCAD Nov 4 CONSOLIDATION within that Master Candle at 1.3400 ... with big news / data release today. note the very little "daylight' between the price and the 5EMA , the moving average has caught up with the price. today may be the day to see the move to see more "daylight" again. {image}
both Canadian and US data did not surprise and kept a balance sentiment for USDCAD around the BRN 1.3400.
reaction to the data release created some volatility but not enough to cause a breakout of that master candle range.
USDCAD trading remain inside that MC[3].
we shall see next week how the market sentiments will change after the elections.


Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD Week 44 Big Picture view Nov 4_closed.png Size: 62 KB


took a H1 trade before the news/data release.
it was 'set and forget' trade with SL below the MC[3] low.

Attached Image (click to enlarge)
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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #73,050
  • Nov 4, 2016 4:58pm Nov 4, 2016 4:58pm
Quoting brian661
{quote} Hi emmanuel, sorry for the same question again, seem my broker's server time is GMT+2. hence the 4hour candle open 3 hour after the Tokyo market open... and from Google, seem I cannot change it. May I ask for a suggestion on which broker can have a correct time? Thanks
Hi Brian,

wait till NY opens on Sunday afternoon because this weekend is DST change in the US.
also let me know which broker you use and to be sure that your broker doe not change their server time with DST.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #73,051
  • Nov 4, 2016 6:15pm Nov 4, 2016 6:15pm
Quoting saranga
{quote} nice trading mate
thank u saranga, have a good weekend.
Winners Never Quit, Quitters Never Win
  • #73,052
  • Nov 4, 2016 6:19pm Nov 4, 2016 6:19pm
Quoting griffinssoul
{quote} if u keep do'n these superb & simple trades u will b asked 2 leave the thread ....... amazing trade'n buddy - a joy 2 see this
thnx a lot griffinssoul! I'm here to learn from others.
Best regards and have a good weekend.
Winners Never Quit, Quitters Never Win
  • #73,053
  • Nov 4, 2016 9:56pm Nov 4, 2016 9:56pm
Quoting emmanuel7788
{quote} Hi Brian, wait till NY opens on Sunday afternoon because this weekend is DST change in the US. also let me know which broker you use and to be sure that your broker doe not change their server time with DST. regards,
Thanks,
I am currently using Fxpro, I use cTrader for trading and MT4 just for reading chart.
I will confirm again with FxPro on next Monday
  • #73,054
  • Nov 5, 2016 9:22am Nov 5, 2016 9:22am
Quoting emmanuel7788
{quote} Every hour there is some news/data release which affect the market. Every day there are events which also will affect the market. When we trade with the 5-Method, we follow the higher timeframe 'trend' or direction and know its volatility. We are seldom wrong when we know the market's direction and the market volatility. We must learn to place our stops away from price levels where the volatility range is. We must learn the use of % risk and do our trade position sizing to remain in the market by staying away from those volatility...
Hi emm,

For H4 trades, we look at the H4 trend AND the D1 trend (so we only entry the direction of the trend). We only enter when our buy/sell is in the same direction, but how much time do we look back for determing this trend? Or just look at H4 green/red crossing and checking D1 green is above/below red is this also ok (which can be a few candles back for D1). Do you have a tool for rapidly determing those trends? Do I just check the TMSmonitor green/red squares or are those timeframes not good?

thanks,
bunne
  • #73,055
  • Nov 5, 2016 9:03pm Nov 5, 2016 9:03pm
Quoting bunne
{quote} Hi emm, For H4 trades, we look at the H4 trend AND the D1 trend (so we only entry the direction of the trend). We only enter when our buy/sell is in the same direction, but how much time do we look back for determing this trend? Or just look at H4 green/red crossing and checking D1 green is above/below red is this also ok (which can be a few candles back for D1). Do you have a tool for rapidly determing those trends? Do I just check the TMSmonitor green/red squares or are those timeframes not good? thanks, bunne

Good question by bunne.

Before I answer his question, I suggest every TMS trader do this little weekend exercise and post your reply here.

In Post#647, Big E he wrote these:

1) he expects each price swing to run "3-8 candles... which is average..."

2) he asked " Am I in an uptrend or downtrend.. short & long term..."

Look at this pic below, when he was trading the H4, which trend was he trading?

the short term trend, the intermediate trend or the long term trend?

Attached Image


Your answer is important because if you are still struggling to be profitable trading with Big E's 5-Method you will learn the one of many reasons Why 95% Of All Traders Fail

Have Fun and enjoy the rest of your weekend.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #73,056
  • Nov 5, 2016 9:20pm Nov 5, 2016 9:20pm
Here is one example of a H1 trade setup on the Oct 28 London open session posted on the TMS M30 thread.

Why that H1 trade setup should avoided?

Attached Image (click to enlarge)
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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #73,057
  • Nov 5, 2016 9:46pm Nov 5, 2016 9:46pm
hey emmanuel7788
what;s week trand look good setting moving avarage?
200sma good week trand?
  • #73,058
  • Nov 5, 2016 10:06pm Nov 5, 2016 10:06pm
Quoting saranga
hey emmanuel7788 what;s week trand look good setting moving avarage? 200sma good week trand?
no moving average will be able to tell you what the market trend is.

I think this old post can help you better understand the use of moving average.

http://www.forexfactory.com/showthre...94#post9071094

and why do most traders including professional traders use multi timeframe analysis as their trading approach?

read these posts:

http://www.forexfactory.com/showthre...40#post8639940
http://www.forexfactory.com/showthre...46#post8896646
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #73,059
  • Nov 5, 2016 11:18pm Nov 5, 2016 11:18pm
Quoting emmanuel7788
Here is one example of a H1 trade setup on the Oct 28 London open session posted on the TMS M30 thread. Why that H1 trade setup should avoided? {image}
monthly and h4 support/resistance?
The only thing that will make us successful is if we can control ourselves!
  • #73,060
  • Nov 6, 2016 2:00am Nov 6, 2016 2:00am
Quoting emmanuel7788
Here is one example of a H1 trade setup on the Oct 28 London open session posted on the TMS M30 thread. Why that H1 trade setup should avoided? {image}
For me, First it is toward a range market zone, Second, It is still in the middle of a Master candle. Third, it is opposite of the main trend and the trend is not broken yet. Moreover, I will also consider stochastic movement which is not shown here.
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