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Trading Made Simple

  • #75,341
  • Jan 31, 2017 2:01am Jan 31, 2017 2:01am
Quoting jmn5611
{quote} Hi, I cannot see any charts from. Make sure I can also see the bars on on the HA candles.
Doh! Attached now.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: GBPJPYDaily.png Size: 49 KB
  • #75,342
  • Jan 31, 2017 2:28am Jan 31, 2017 2:28am
Quoting irishtoffy
{quote} Doh! Attached now. {image} {image}
Those are both technically sound. Good luck and don't over leverage!
If you are good at something, never do it for free--Joker
  • #75,343
  • Jan 31, 2017 2:47am Jan 31, 2017 2:47am
Quoting jmn5611
{quote} Those are both technically sound. Good luck and don't over leverage!
Thats good to hear. Do you see any reasons that would have kept you out of them? Any reasons against for my future reference?
  • #75,344
  • Jan 31, 2017 2:52am Jan 31, 2017 2:52am
Quoting jmn5611
I closed my NJ position. Reason? Stochs are going against the position. Lots of wicks on the HA candles. Bulls are buying at this level. {image}
Aren't those wicks the exact thing you want to see in a short
the cautious seldom err....C
  • #75,345
  • Jan 31, 2017 3:13am Jan 31, 2017 3:13am
Quoting pips29
{quote} Aren't those wicks the exact thing you want to see in a short
No. You do not want to see wicks on the bottom of candles if you are short. Wicks mean buying pressure. At some point the bulls will win and the bears will give up and the market will rise.

Here is a follow up chart after I decided to get out. The bulls are winning.
Attached Image (click to enlarge)
Click to Enlarge Name: NZDJPYH4.png Size: 46 KB
If you are good at something, never do it for free--Joker
  • #75,346
  • Jan 31, 2017 3:34am Jan 31, 2017 3:34am
are you not referring to HA candles. http://www.investopedia.com/articles.../04/092204.asp
the cautious seldom err....C
  • #75,347
  • Edited 4:06am Jan 31, 2017 3:54am | Edited 4:06am
Thanks emmanuel

How I keep it simple:
when trading the H4 chart timeframe,
start the week by first looking at the W1 charts,
if the W1 shows sideways market, check the range. Avoid trading narrow range sideways.
if W1 is trending, then move on and look at D1,
if D1 is trending in the same direction as W1, then trade H4 in the direction of both the W1 and D1.
If D1 is in a 'correction' / retracement against the W1 trend, WAIT.... for D1 reversal

I am not sure this pair had been trending very well within my back testing period. But the result was good even though there were small number of setups available within three months time. I only select when H4 breakout with same direction with D1, W1.




Attached Image (click to enlarge)
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  • #75,348
  • Jan 31, 2017 4:11am Jan 31, 2017 4:11am
"The TDI is not in the winning edge equation"
and
"The TDI is the heart of our method"

Above are two extracts from two post in Trading Made Simple.
Both are done by Very Important Person(VIP) in this thread.
Both members used an catchphrase that will be remembered for a long time. (At least by me)
Only the catchphrase are used.

It is like a really bad itch that you just can't seem to scratch.
Both are contradicting each other

Which is the right why to go?
  • #75,349
  • Jan 31, 2017 4:12am Jan 31, 2017 4:12am
Quoting pips29
are you not referring to HA candles. http://www.investopedia.com/articles.../04/092204.asp
Maybe you missed this in the article you posted.

Constructing the Chart


The Heikin-Ashi chart is constructed like a regular candlestick chart (except with the new values above). The time series is defined by the user--depending on the type of chart desired (daily, hourly, etc.). The down days are represented by filled bars, while the up days are represented by empty bars. Finally, all of the same candlestick patterns apply.

Read more: Heikin-Ashi: A Better Candlestick | Investopedia http://www.investopedia.com/articles...#ixzz4XKh6aI00
Follow us: Investopedia on Facebook

Quoting Tekkies
"The TDI is not in the winning edge equation" and "The TDI is the heart of our method" Above are two extracts from two post in Trading Made Simple. Both are done by Very Important Person(VIP) in this thread. Both members used an catchphrase that will be remembered for a long time. (At least by me) Only the catchphrase are used. It is like a really bad itch that you just can't seem to scratch. Both are contradicting each other Which is the right why to go?
Both ways.

TDI is the heart of the method. It does not mean it will give you a winning edge. It has been stated many times that if you do not understand price action you will be in trouble.
If you are good at something, never do it for free--Joker
  • #75,350
  • Edited 7:21am Jan 31, 2017 4:28am | Edited 7:21am
Quoting Tekkies
{quote} Do you mean this Sesamstrasse a lot of hindsight trading XM MT4.png;2163631 {image}
Nope , I meant the stupid words I quoted before ..

"Quoting Tekkies
No Trader can manage a trade. A trader has only two choices on any chart 1. When to place an order. 2. When to close an order. Everything between those two points the market does the management. Don't wast time and try to make plans The market will always laugh at your plans.. "

Silly stuff , no doubt .

By the way..
Your positive contributions in this thread very rare ...
And these are the last words with you ..ignore.... just to make it clear ..
Wish you good success in trading ..

Guido
Risiko birgt immer auch die Chance.
  • #75,351
  • Jan 31, 2017 4:33am Jan 31, 2017 4:33am
Quoting jmn5611
{quote} Maybe you missed this in the article you posted. Constructing the Chart The Heikin-Ashi chart is constructed like a regular candlestick chart (except with the new values above). The time series is defined by the user--depending on the type of chart desired (daily, hourly, etc.). The down days are represented by filled bars, while the up days are represented by empty bars. Finally, all of the same candlestick patterns apply. Read more: Heikin-Ashi: A Better...
I have seen some videos on HA and they always say there will be little or no wicks at the top in a downtrend and vice versa..I must be doing it wrong for years...hmm
the cautious seldom err....C
  • #75,352
  • Jan 31, 2017 4:40am Jan 31, 2017 4:40am
Quoting pips29
{quote} I have seen some videos on HA and they always say there will be little or no wicks at the top in a downtrend and vice versa..I must be doing it wrong for years...hmm
It is entirely possible to do something wrong for a very long time. Sometimes for life. But if it works for you, by all means do not stop now!
If you are good at something, never do it for free--Joker
  • #75,353
  • Jan 31, 2017 4:40am Jan 31, 2017 4:40am
Quoting Sesamstrasse
{quote} Nope , I meant the stupid words I quoted before .. "Quoting Tekkies No Trader can manage a trade. A trader has only two choices on any chart 1. When to place an order. 2. When to close an order. Everything between those two points the market does the management. Don't wast time and try to make plans The market will always laugh at your plans.. " Silly stuff , no doubt . By the way.. Your positive contributions in this thread very rare ... And thats the last words...
Hi
We both agree on one aspect.
We both want to learn.

Now why the attack.
Why not say to me Tekkies this is way I do not agree with you.
Attack the post not the member.
  • #75,354
  • Jan 31, 2017 4:44am Jan 31, 2017 4:44am
Quoting jmn5611
{quote} It is entirely possible to do something wrong for a very long time. Sometimes for life. But if it works for you, by all means do not stop now!
yeah, I am saying the exact thing to you too
the cautious seldom err....C
  • #75,355
  • Jan 31, 2017 4:44am Jan 31, 2017 4:44am
Quoting jmn5611
...{quote} Both ways. TDI is the heart of the method. It does not mean it will give you a winning edge. It has been stated many times that if you do not understand price action you will be in trouble.
Too much time is being spent on TDI and Stochastics,
Too little time time on Price Action and Support/Resistance.
And no time spend on Money Management, Risk Management for entries and exits, When and How to Let Profits Run.
You need to find your WINNING EDGE and the TDI is not in the winning edge equation.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #75,356
  • Jan 31, 2017 4:51am Jan 31, 2017 4:51am
Quoting classy
{quote} Hi big em ,what is your trade plan? teach us please .how you prepare before news or after news .what you consider ? how you decide to enter or go sideline?

Hi Classy,

my trade plan is simple:
- when there is high impact news day, do not trade H1 intraday
- trade only after the news release and look at H4 and D1 charts only
- follow the higher timeframe W1, D1 and stay out of the intraday volatility created by the news.

BOJ rate annoucement and policy statement did not change the market direction of the JPY pairs.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #75,357
  • Jan 31, 2017 4:59am Jan 31, 2017 4:59am
Quoting Con
{quote} Hi emmanuel, Will you be able to share with me your approach on using the 10 EMA top down analysis for big picture planning? Thanks

Hi,

I have posted many times on the use of 10EMA. Look for the posts using the keyword serach.
Tell me a currency pair and I will do a top down analysis this weekend to prepare for next week's trading.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #75,358
  • Jan 31, 2017 5:16am Jan 31, 2017 5:16am
Quoting jmn5611
{quote} Emm... You put up weekly charts to ask about trends or range without putting up a higher TF. I could say they are trending. But I could also say they are bull legs in a trading range. Your thoughts?
Hi,

Looking at the November 2016 bull rally, that has come to a 'pause' and no clear sign of that bull rally continuing when I look at their weekly charts.
There is the top of that rally and we shall see how the JPY pairs will trade in the coming weeks. I prepare for more sideways range trading until there are consecutive weeks closing higher. If this happens, we can trade both buy and sell in the same week by catching the intra-week swings.

some added comments on my weekly charts.

Attached Image (click to enlarge)
Click to Enlarge Name: JPY 6 pairs bar chart update notes.png Size: 88 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #75,359
  • Jan 31, 2017 5:22am Jan 31, 2017 5:22am
Quoting jmn5611
I closed my NJ position. Reason? Stochs are going against the position. Lots of wicks on the HA candles. Bulls are buying at this level. {image}

long term bulls still have control of the market ... holding their support level.

we shall see how this level will hold.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #75,360
  • Edited 5:59am Jan 31, 2017 5:41am | Edited 5:59am
Quoting emmanuel7788
{quote}the rule for Position Building is to add positions during the retracement when the 'trend' is confirmed seen in the higher timeframe
Why add to a losing trade?
What would have stopped the pullback from going into a new trend up.
The higher time frame does not tell the lower time frame what to do.
The lower time frame always tell the higher time that is going to happen whether higher time frame like it or not.
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