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Trading Made Simple

  • #74,441
  • Jan 5, 2017 12:28am Jan 5, 2017 12:28am
GBPUSD H1 trade Jan 5:
A Bearish Engulfing Bar BEEB setup Frankfurt Open candle with Divergence.
Risk : UK PMI in about 2 hours, counter trend to yesterdays bullish close.

SL 50pips
TP 50pips


Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD H1 Jan 5 trade entry.png Size: 49 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #74,442
  • Jan 5, 2017 12:31am Jan 5, 2017 12:31am
Quoting emmanuel7788
GBPUSD H1 trade Jan 5: A Bearish Engulfing Bar BEEB setup Frankfurt Open candle with Divergence. Risk : UK PMI in about 2 hours, counter trend to yesterdays bullish close. SL 50pips TP 50pips {image}

Ha! Took the same trade, Tms monitor said strong sell, and I noticed the divergence. Must be on the right track. Although I'm targeting 1.2250ish, as I see it as the next support.
  • #74,443
  • Jan 5, 2017 12:36am Jan 5, 2017 12:36am
Quoting mortezakh
{quote} Could you please tell about your money management when trading h1

@Mortezakh,

For this week and also next week, I am only trading Intraday H1 with Single Entry/Single Exit SE/SE or if there is strong move then I switch to Single Entry/Multiple Exits SE/ME to let profit run.
I look for setup where the swing high is less than 50pips and use a 50pips as my initial Stop Loss which is my trade risk R. Risking only 1% to 2% of my trading account and use Position Sizing.

There are pdfs on Money Management in these posts link below:

http://www.forexfactory.com/showthre...53#post7968153

http://www.forexfactory.com/showthre...40#post8794840

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #74,444
  • Jan 5, 2017 12:39am Jan 5, 2017 12:39am
Quoting Rub
{quote} Ha! Took the same trade, Tms monitor said strong sell, and I noticed the divergence. Must be on the right track. Although I'm targeting 1.2250ish, as I see it as the next support.
@Rub,

Nice!

I will look at the current H1 close and move my SL to BE.
UK PMI is GMT 0930 ... and forecast is weaker PMI so this may fall lower.
Let's manage this one and we shall see...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #74,445
  • Jan 5, 2017 12:55am Jan 5, 2017 12:55am
For those of you who haven't read emmanuel7788 earlier posts on the power of time frames I suggest you take a gander. It helps to have larger TF bias on your side no doubt!! There's no point in swimming upstream. Kick back pop open a beer and just float down the stream in your inner tube. Let the current take you where it may.
Attached Image (click to enlarge)
Click to Enlarge Name: MTF TREND.png Size: 81 KB
  • #74,446
  • Jan 5, 2017 1:00am Jan 5, 2017 1:00am
Adding too many (crappy) indicators is the way to make it far too complicated and it is input for more doubt. Why would you do that?
Keep it simple without too many crappy indicators!
  • #74,447
  • Jan 5, 2017 1:11am Jan 5, 2017 1:11am
Quoting ensale
recommended pairs to swing trade for 2017, based on testing and crunching off the numbers.. {image}
Thank you. I see that most pairs in your list are very volatile. No problem, I like that, it's only an observation.
Keep it simple without too many crappy indicators!
  • #74,448
  • Jan 5, 2017 1:11am Jan 5, 2017 1:11am
Quoting luvene
Adding too many (crappy) indicators is the way to make it far too complicated and it is input for more doubt. Why would you do that?
I just gave you the holy grail. And this is the response i get. Im not saying put a bunch of indicators on your chart you idiot. Its merely a representation of the power of timeframes. You got dropped on your head as a baby didnt you. No wonder i dont come here anymore.
  • #74,449
  • Jan 5, 2017 1:14am Jan 5, 2017 1:14am
Quoting luvene
Adding too many (crappy) indicators is the way to make it far too complicated and it is input for more doubt. Why would you do that?

And by the way....... these (crappy) indicators your referring too.... Every hedge fund , and banking institution around the world has these (crappy) indicators on there charts. There called MOVING AVERAGES you moron.
  • #74,450
  • Jan 5, 2017 2:09am Jan 5, 2017 2:09am
Quoting emmanuel7788
GBPUSD H1 trade Jan 5: A Bearish Engulfing Bar BEEB setup Frankfurt Open candle with Divergence. Risk : UK PMI in about 2 hours, counter trend to yesterdays bullish close. SL 50pips TP 50pips {image}

GBPUSD H1 trade closed.
Moved my SL to BE before the UK services PMI data release. Got stopped out.
Breakeven ...

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD H1 Jan 5 trade closed.png Size: 42 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #74,451
  • Jan 5, 2017 2:13am Jan 5, 2017 2:13am
Quoting goathed1
For those of you who haven't read emmanuel7788 earlier posts on the power of time frames I suggest you take a gander. It helps to have larger TF bias on your side no doubt!! There's no point in swimming upstream. Kick back pop open a beer and just float down the stream in your inner tube. Let the current take you where it may. {image}
Whoa nice words to a follow trader.
Why so aggressive.
The few posts that you have posted has not contribute a dime to TMS. In fact nothing what you have posted has anything to do with TMS.

No wonder you picked a suitable nick. You like to goad (provoke) members into retaliation. Go read forexfactory Terms and Condition. When you have obtained knowledge how to behave according to those Terms and Condition come back

BigE would have ban you for sure. Are you here to learn or to insult members
#107
I have a wonderful group of traders... that know what theyre doing and they have been jumping in
to help... which I appreciate dearly... they have become close and trusted friends and they love
what they do here. Theyre here to help you learn...
  • #74,452
  • Edited 2:57am Jan 5, 2017 2:13am | Edited 2:57am
Quoting emmanuel7788
{quote} GBPUSD H1 trade closed. Moved my SL to BE before the UK services PMI data release. Got stopped out. Breakeven ... {image}
I had the same, currently in EUR/CAD based on the pin, but I think I'll close it before I go to bed.

EDIT: Took 20 pips. Sleepy time for me.
  • #74,453
  • Jan 5, 2017 2:54am Jan 5, 2017 2:54am
Lots of travelling over the Xmas and New Year period, a wonderful time with family and friends and today back at the desk. Screens on, charts up, TMS thread open... it's good to be back.

HAPPY NEW YEAR everybody and may all your efforts in 2017 be rewarded.
All for one and one for all
  • #74,454
  • Jan 5, 2017 2:59am Jan 5, 2017 2:59am
Quoting Rub
{quote} I had the same, currently in EUR/CAD based on the pin, but I think I'll close it before I go to bed.
EURCAD H1 looks good now and when this H4 closes in about 3 hours during NY session, it can be a good trade too.
But I don't trade H4 this week so I will not follow up on this later. my bedtime as usual when NY opens.

Trade Well folks.

Edit: add chart

Attached Image (click to enlarge)
Click to Enlarge Name: EURCAD Jan 5 H4 LS 2H55M.png Size: 48 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #74,455
  • Jan 5, 2017 3:04am Jan 5, 2017 3:04am
A quick first sweep through the charts and not much grabs my attention although EURAUD on H1 looks OK (bearish reversal candle and D1 confirms direction) so have taken a small short ... will add to the position if H4 TDI crosses later in the day. PA is in consolidation so potential pip target may be limited. First trade of the year.
All for one and one for all
  • #74,456
  • Jan 5, 2017 3:12am Jan 5, 2017 3:12am
Quoting cvgreen46
A quick first sweep through the charts and not much grabs my attention although EURAUD on H1 looks OK (bearish reversal candle and D1 confirms direction) so have taken a small short ... will add to the position if H4 TDI crosses later in the day. PA is in consolidation so potential pip target may be limited. First trade of the year.

based on current H4 price action, we can enter now with active APB#2.

Attached Image (click to enlarge)
Click to Enlarge Name: EURAUD Jan 5 H4 GMT 1110.png Size: 29 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #74,457
  • Jan 5, 2017 3:25am Jan 5, 2017 3:25am
Quoting emmanuel7788
{quote} based on current H4 price action, we can enter now with active APB#2. {image}
Thanks emm.

That's interesting, my APB#2 doesn't open for another 35 mins (1200PM - UK Time) ... no worries, I know these differences occur but the TMS principle is the same ...
All for one and one for all
  • #74,458
  • Jan 5, 2017 3:31am Jan 5, 2017 3:31am
Quoting goathed1
{quote} I just gave you the holy grail. And this is the response i get. Im not saying put a bunch of indicators on your chart you idiot. Its merely a representation of the power of timeframes. You got dropped on your head as a baby didnt you. No wonder i dont come here anymore.
There is no Holy Grail, people who say that are ..... and you call me an idiot, even moron whaaaaaaa! For you personally idiot and moron is even too much honor. Go study on the method of BigE and leave us in peace. I fully agree with the words of Tekkies. OK, back on topic now
Keep it simple without too many crappy indicators!
  • #74,459
  • Jan 5, 2017 3:34am Jan 5, 2017 3:34am
Quoting ensale
recommended pairs to swing trade for 2017, based on testing and crunching off the numbers.. {image}
Interesting post ensale ... will take a look and follow for a while. Thanks.
All for one and one for all
  • #74,460
  • Jan 5, 2017 4:05am Jan 5, 2017 4:05am
Comparing broker with different server time GMT+0 and GMT+2


GMT+0
Attached Image (click to enlarge)
Click to Enlarge Name: EURAUD Jan 5 H4 GMT0.png Size: 25 KB


GMT+2
Attached Image (click to enlarge)
Click to Enlarge Name: EURAUD Jan 5 GMT_2.png Size: 28 KB


It will not make much difference which broker server time you chose to trade.
Look at both charts above,
GMT+0, you enter on APB#2 while it is active

GMT+2, what is the different if you enter now?
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
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