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Trading Made Simple

  • #73,081
  • Nov 7, 2016 1:44am Nov 7, 2016 1:44am
emmanuel7788
targer 200pip thi;s good entry emu?
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  • #73,082
  • Nov 7, 2016 1:47am Nov 7, 2016 1:47am
target 132.30 risk free trade
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  • #73,083
  • Nov 7, 2016 2:13am Nov 7, 2016 2:13am
Quoting anfei1972
{quote} Quiz is a good way to learn. My answer: 1. Against H4 trend 2. very close to the support level. Cheers
Agree on 1 & 2 plus

3. Candle is very small (no momentum).
4. Candle above 5EMA.
  • #73,084
  • Nov 7, 2016 2:26am Nov 7, 2016 2:26am
Quoting saranga
target 132.30 risk free trade {image}
Good entry saranga ,but it looks flat and hook over now, is it signal to exit by rule, are you still hold it?
  • #73,085
  • Nov 7, 2016 2:58am Nov 7, 2016 2:58am
Good entry saranga ,but it looks flat and hook over now, is it signal to exit by rule, are you still hold it?
yes dr i am hold target 132.30
  • #73,086
  • Nov 7, 2016 4:07am Nov 7, 2016 4:07am
Took this trade on H1, is valid setup? appreciated any comments. thanks.
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  • #73,087
  • Nov 7, 2016 4:35am Nov 7, 2016 4:35am
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,
Hi emmanuel,
Confirmed with FxPro today and they said the server time will not be changed.
Hence my situation for the 4 hour time frame is:
new candle after 2 hour of London market start
new candle after 1 hour of New York / Toyko market start
I think this will be a great impact on using the strategy...

just tried to open a demo account on FXCM, which said is GMT+0 by some site,
but is still GMT+2 on the MT4...
  • #73,088
  • Nov 7, 2016 4:59am Nov 7, 2016 4:59am
I must admit I had some positions on over the weekend and it had negative effect on my month start... -30 usdcad..

Lesson learnt, never hold positions on a political weekend..
It's in fear when people show what they truly value.
  • #73,089
  • Nov 7, 2016 5:49am Nov 7, 2016 5:49am
Only two trades today...
CHFJPY D1 trade...
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and NZDJPY D1....
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Winners Never Quit, Quitters Never Win
  • #73,090
  • Nov 7, 2016 6:23am Nov 7, 2016 6:23am
Quoting hsn100
Only two trades today... CHFJPY D1 trade... {image} and NZDJPY D1.... {image}
IMO the number of trades is not important - but the process is mega important - excellent trading buddy ....... one suggestion/request is if u could mark the entry candle - that way noobs would benifit from this IMO ........ thnx 4 post'n
  • #73,091
  • Nov 7, 2016 8:48am Nov 7, 2016 8:48am
Quoting griffinssoul
{quote} IMO the number of trades is not important - but the process is mega important - excellent trading buddy ....... one suggestion/request is if u could mark the entry candle - that way noobs would benifit from this IMO ........ thnx 4 post'n
What griffinssoul said. Marking entry and possibly exit points would help us newcomers A LOT! Thanks a lot for all the work you guys and girls do.


Mike
  • #73,092
  • Nov 7, 2016 9:45am Nov 7, 2016 9:45am
Quoting emmanuel7788
{quote} http://www.forexfactory.com/showthre...34#post9237634 there are 6 H4 candles in one Day, and there are 5 Day candles in one Week. Look at EURNZD today and for rest of this week. Which is your Short-term Trend, Intermediate Trend and Primary Trend? If you take a trade in H4, which of the 3 trend are you trading? When Big E trade H4, which timeframe trend was he referring to as "short term and long term trends"?
Thanks Emm,

You made me think over and over and it drove me crazy today ;-) but I think I got it. 3-8 candles it is. When I am going to trade H4, I will be watching my daily trend to see if these upcandles are in the same uptrend or downtrend "shape" and I will be careful when those are trying to turning around (also 3-8 candles, unless its a longer or shorter trendperiod, by looking in the D1 history, so it can vary). I know now what my problem is: I was watching months back in the D1 trend and I realize now that this is the same as converting it in my mind as a weekly trend, which confused me about the real daily trend.
Also watching H1 trend for a better entry.

greetz,
bunne
  • #73,093
  • Nov 7, 2016 9:59am Nov 7, 2016 9:59am
Its going good :-)

But its a demo account, I just saw my real money is deposited... and I am scared to trade lol (bad experiences in the past)...

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  • #73,094
  • Nov 7, 2016 10:50am Nov 7, 2016 10:50am
Quoting bunne
Its going good :-) But its a demo account, I just saw my real money is deposited... and I am scared to trade lol (bad experiences in the past)... {image}
good going and nice trading. keep it up.
It's in fear when people show what they truly value.
  • #73,095
  • Nov 7, 2016 1:49pm Nov 7, 2016 1:49pm
Euraud looking good
What's your idea?
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  • #73,096
  • Nov 7, 2016 1:58pm Nov 7, 2016 1:58pm
Hello thread, long time no see. Nice to see the community still active and helping each other out. As you all know, this thread is a gold mine with a few members who possess infinite patience. Hats off to those members.

Will be catching up with the thread, but figured i'd share a quick TMS PASR scalp from this afternoon.

AUDUSD M5
SL: 11.4p
TP: 25.5p
+2.23R

All the best,
N

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  • #73,097
  • Nov 7, 2016 2:59pm Nov 7, 2016 2:59pm
Guys I`m just confused how you usually enter to the trade one candle earlier? I always take position when I see the cross over on TDI when the candle close I make sure then enter.
can you give me some advice?
  • #73,098
  • Nov 7, 2016 3:02pm Nov 7, 2016 3:02pm
Quoting brian661
{quote} Hi emmanuel, Confirmed with FxPro today and they said the server time will not be changed. Hence my situation for the 4 hour time frame is: new candle after 2 hour of London market start new candle after 1 hour of New York / Toyko market start I think this will be a great impact on using the strategy... just tried to open a demo account on FXCM, which said is GMT+0 by some site, but is still GMT+2 on the MT4...
Hi brian,

The H4 candles and server time will not have any impact on the way we trade the 5-Method.
We trade the price when there is momentum. The RSI or TDI show the price momentum, nothing more.
Just pick your broker and stick to the chart they provide.
What is important is your trading hours and you have to be at your computer during your trading hours to trade.
Your trading hours must fit your lifestyle not the other way around.
You can also trade the D1 chart and you need to check your chart once a day at minimum. This is what I do for 30 years trading the stock markets.
When you trade H4, pick the currency pairs and study their H4 charts. You will see when are the best hours and market sessions of the week to look for trades.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #73,099
  • Nov 7, 2016 3:11pm Nov 7, 2016 3:11pm
Quoting mortezakh
Euraud looking good What's your idea?{image}

Do not chase after the market... that is an important rule.

That big D1 candle means your initial SL is above the last swing high and if you use fix lot size without using %Risk and Position Sizing, that is not good trade.

If you trade based on Position Building to get an overall better entry price, then ME/ME is the method for experienced traders.

However, with the US elections there will be more market volatility ahead of us so we must preserve our trading capital. Be very careful when the three amigos are not riding in the same direction.

If you are very long term seller, your stop is above last month's high... 1.4850.

three amigos = AUDUSD, EURUSD and GBPUSD.
the 4th amigo is NZDUSD.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #73,100
  • Nov 7, 2016 3:19pm Nov 7, 2016 3:19pm
Quoting ensale
I must admit I had some positions on over the weekend and it had negative effect on my month start... -30 usdcad.. Lesson learnt, never hold positions on a political weekend..

Weekend price gaps can work to your advantage if you are longer term trader. Gaps are there for a reason. If the price gaps in our favour we are happy. If the gap goes against our favour we are less happy but we can make use of the gaps.

But I see rookie H4 trader holding on to trade for longer than one month. They face margin call and so they had to top up their accounts hoping and praying that the CAD will be strong if Trump win the elections.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
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