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Trading Made Simple system follower - Thanks to eelfranz 9 replies

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Trading Made Simple

  • #76,341
  • Feb 24, 2017 12:15am Feb 24, 2017 12:15am
Quoting falisco
{quote} you are right for that trade here's another trade trading with the trend still lost weird! any ideas why? is it news or something else im missing? {image}
I think you drive right into a SR-zone, avoid to enter in these zones.

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regards
  • #76,342
  • Feb 24, 2017 12:17am Feb 24, 2017 12:17am
Quoting fcaldas
{quote} Thanks for sharing. Are you setting TP or just following the trade? And, if you're setting TP, what's your strategy?
Hi fcaldas, I do not set a TP but follow the trade. I trade the 4 hour time frame and cancel the trade if I see the TDI go flat, curve back or become a check mark - these are all signals developed by Eelfranze. Also I close all trades at 6 a.m. pacific time whether in profit or not.
Just as Eelfranze did, I look for trades at 10 p.m. and 2 a.m. I set a SL t the most recent highs or lows, I think you can see them around my completed trades.

Just checked my charts, no trades for me at 10 p.m. Off to bed, back at 2 a.m.

Cheers.
Enter Signature
  • #76,343
  • Feb 24, 2017 1:23am Feb 24, 2017 1:23am
Quoting Frank0
falisco, the bar marked with a white v is your signal bar. it's a big bar or called by others a wide range bar. (WRB) their characteristics are in general high momentum with action taken to buy or sell following low-high close if it's being used as a sig bar. if the low-high wick is modestly large it's a sign of buyers-sellers backing off and it's best to wait for that close. eelfanz mentioned staying away from them because they require a large stop. my tdi green line is down but not yet crossed below the red one. stoch line is dotted green line...
thanks for your analysis, I think the biggest reason is there's no room for price to go down since it's close to 32
I didnt expect price to break through the broken support which turned into resistance right away,
I learned that is supposed to bounce from the broken support and continue to go down
but anything can happen in forex
  • #76,344
  • Feb 24, 2017 1:24am Feb 24, 2017 1:24am
Quoting Deichkind
{quote} I think you drive right into a SR-zone, avoid to enter in these zones. {image} regards
thanks bro
  • #76,345
  • Feb 24, 2017 1:48am Feb 24, 2017 1:48am
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Losing trade. ( It's seems like market has memory )

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  • #76,346
  • Feb 24, 2017 1:57am Feb 24, 2017 1:57am
Quoting inforserve
Winning Trade {image} Winning Trade {image} Losing trade. ( It's seems like market has memory ) {image}
Hi Info

Great trades.

Just wondering why you did not take EN trade 3-4 candle before when TDI crossed ( was you waiting for some other confirmation like HTF or ?

Please can you give more info if any

Thanks

MK
  • #76,347
  • Feb 24, 2017 1:57am Feb 24, 2017 1:57am
Hi everyone,i think that EurGbp is interesting for long on H1.On Daily it's in bearish trending,but i think there may be a small retracement
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  • #76,348
  • Feb 24, 2017 2:10am Feb 24, 2017 2:10am
Quoting mkfx
{quote} Hi Info Great trades. Just wondering why you did not take EN trade 3-4 candle before when TDI crossed ( was you waiting for some other confirmation like HTF or ? Please can you give more info if any Thanks MK
You are right. I was waiting for clear direction in D1 TF and entered trade after I saw double inside bar break out.
Since All TF had been down trend, I put the stop loss near swing high at consolidation area (MN line ) and wait see what happen.
As you know if All TF agree on the direction, you rarely get wrong. (IMHO)

Cheers;
  • #76,349
  • Feb 24, 2017 2:19am Feb 24, 2017 2:19am
Quoting inforserve
{quote} You are right. I was waiting for clear direction in D1 TF and entered trade after I saw double inside bar break out. Since All TF had been down trend, I put the stop loss near swing high at consolidation area (MN line ) and wait see what happen. As you know if All TF agree on the direction, you rarely get wrong. (IMHO) Cheers;
Thanks inforserve,

Yes you are right ALL TF should agree. but when entered on 4hr TF already 6 red bar in red, so it became risky ( or more chances of pullback which happened) . But me personally think in such case, we should take trade on a fresh crossing (after agreeing on HTF). IT is my opinion.


Thanks
  • #76,350
  • Feb 24, 2017 2:56am Feb 24, 2017 2:56am
Quoting inforserve
{image} {image} Losing trade. ( It's seems like market has memory ) {image}
at your loosing trade, don't you trail your SL?

regards
  • #76,351
  • Feb 24, 2017 3:07am Feb 24, 2017 3:07am
Quoting Deichkind
{quote} at your loosing trade, don't you trail your SL? regards
Yes, I should use THV trade manager.
  • #76,352
  • Feb 24, 2017 4:01am Feb 24, 2017 4:01am
Quoting inforserve
{quote} Yes, I should use THV trade manager.
yes, or something similar like MPTM oder DB_MTStop(makes candle-trailing)

regards
  • #76,353
  • Feb 24, 2017 5:24am Feb 24, 2017 5:24am
Hi @ all..
....about 70 green in EA H4
... TP was the 50 Ema what is my own interpretation how to see a good exit in this case .

Single entry, single exit ..working on a plan for MeMe ... under construction ;-)

Have a nice weekend
Guido
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Risiko birgt immer auch die Chance.
  • #76,354
  • Edited 6:56am Feb 24, 2017 6:44am | Edited 6:56am
daily GBPJPY
inside bars and MCs , it will move probably soon or we prepare for next week
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  • #76,355
  • Edited 7:31am Feb 24, 2017 7:18am | Edited 7:31am
Quoting inforserve
{image} {image} Losing trade. ( It's seems like market has memory ) {image}
If you are going to look at the daily and when you drill down to the lower timeframes ignore the amount of candles it has already moved, a better way to trade would be to just look at the daily timeframe and put your stop loss at the swing high there. When you drill down to use a smaller stop loss you need to note how many candles it has already moved in that direction and if necessary wait for a pullback. To trade like you are you need to use multiple entries so split your trade into smaller lots and then put in the first entry and subsequent entries on the pullbacks it is the only way that sort of trading can be done. As you have experienced, the way you are doing it is going to give you large drawdown as each trade did before going into profit. If you cannot afford to split your entry size as a lot of people cannot then you need to pick the entries better by waiting for a pullback first if it has already moved a long way in that direction.
Success means going from failure to failure without loss of enthusiasm
  • #76,356
  • Edited 7:40am Feb 24, 2017 7:25am | Edited 7:40am
Trading bear CHFJPY. What do you think?

The M2 Chart is a renko chart with box size of 3.
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  • #76,357
  • Feb 24, 2017 7:34am Feb 24, 2017 7:34am
Hi guys,

Just want to ask, in this 5 method, what does our 5 Ema tell us? because i still dont understand what does it indicate.

Thank you in advance.

Regards,
Miner
  • #76,358
  • Feb 24, 2017 7:55am Feb 24, 2017 7:55am
Please....

I need a close all open trades script for MT4....

You just move to chart and all open trades will close...

I can't find any that work...

Thank You
  • #76,359
  • Feb 24, 2017 8:04am Feb 24, 2017 8:04am
Quoting Miner88
Hi guys, Just want to ask, in this 5 method, what does our 5 Ema tell us? because i still dont understand what does it indicate. Thank you in advance. Regards, Miner
Miner
Some members use it, some do not.
Use Search to right of webpage Advance search. Read up on how it came to be. Then you can deiced yourself.
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  • #76,360
  • Feb 24, 2017 8:13am Feb 24, 2017 8:13am
Quoting Miner88
Hi guys, Just want to ask, in this 5 method, what does our 5 Ema tell us? because i still dont understand what does it indicate. Thank you in advance. Regards, Miner
The 5 EMA enhances the signal. A close above or below it strengthens the signals. As with any filter this will cost you some trades.
If you are good at something, never do it for free--Joker
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