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Trading Made Simple

  • #76,781
  • Mar 8, 2017 11:31am Mar 8, 2017 11:31am
Hi,

I've been here for some time learning from all of you this 5 Method trading methodology.
By now i think a have basic knowledge and tools to apply the method. Thank you all.

Here are 2 open trade on usdjpy. The first one with SL at breakeven, and a second one at 1R multiple with 0.5% account risk.
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  • #76,782
  • Edited 12:36pm Mar 8, 2017 12:21pm | Edited 12:36pm
Quoting bistolis
hi how do we take advantage of this double inside bar and now bullish engulfing, on the daily EURJPY {image}
bistolis use post#647
W1
- TDI cross is forming Green already visible to the upside
- Candle (doji) is indecision
- Wait for conformation candle
D1
- Green rebound
- Candle got same size wick both side is also an form of indecision
- Wait for conformation candle
H4
- Bar 2 after cross
- Level at 55 (good)
- Angle above 02H30 (good)
- Cross close to resistance (not good)
- Green is going up + candle going down (not good)
- Candle got long wick at top - Seller's are strong
H1
- TDI cross already formed down
- Angle below 05H30 (very good)
- 3*candle's show resistance (good)
- Candle's are big (long)
Would go with H1 that angle is will give momentum for trade to go to breakeven + spread.

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  • #76,783
  • Mar 8, 2017 12:28pm Mar 8, 2017 12:28pm
Quoting Maule
Hi traders. Found an on-line chart that's been programmed to help you identify which pairs correlate with each other. eg: EURUSD & USDCHF. http://www.currensys.com/correlation.php Instruction manual http://www.currensys.com/resources/C...0Explained.pdf Page 7-9.
Maule
Read BigE's post#63 and you will see how TMS use correlation
  • #76,784
  • Mar 8, 2017 12:59pm Mar 8, 2017 12:59pm
EURJPY update

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MC holds so far
  • #76,785
  • Mar 8, 2017 2:41pm Mar 8, 2017 2:41pm
Update for few trades.

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  • #76,786
  • Mar 8, 2017 3:47pm Mar 8, 2017 3:47pm
Off-topic

Did anybody here see the match: Barcelona vs PSG?


Incredible.
Vtayha7788 has suspended me and Twee is missing!!!
  • #76,787
  • Mar 8, 2017 4:25pm Mar 8, 2017 4:25pm
Quoting Mt7
Off-topic Did anybody here see the match: Barcelona vs PSG? Incredible.
yes, great game, great goals.

It shows that when you have the team work, different sets of skills, common passion, monster appetite and a huge hunger to want to win, you can make it happen.

the same here when we want to win and win big in forex trading.

What has this piece Bolero has to do with forex trading?

Inserted Video
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #76,788
  • Mar 8, 2017 4:51pm Mar 8, 2017 4:51pm
Quoting emmanuel7788
just went selling EU, GU and buying UJ.... if any one else has other ideas?

3 H1 trades, managed using THV CaveManager.
EURUSD just closed manually since it went no where.
GBPUSD stopped out when price pull back closed using Capital Protection
USDJPY peformed the best made it full run.
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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #76,789
  • Mar 8, 2017 5:04pm Mar 8, 2017 5:04pm
XAUUSD lost it glitter after a good performance.

XABCD and that AB=CB did not complete.

Market sentiments is strong dollar, safe haven currency for many.

Which country has the largest gold reserves and foreign currency reserves?
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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #76,790
  • Mar 8, 2017 5:08pm Mar 8, 2017 5:08pm
Folks,

I posted the work by FF member Tipster long time ago.

he has new development which you may to try and perhaps use his tools in your trading.

It visual trading using lines on your charts, i.e. using MT4 trendlines tool, draw lines where you want to buy/sell, set SL, TP, etc.


https://www.forexfactory.com/showthr...74#post9628574
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #76,791
  • Mar 8, 2017 5:46pm Mar 8, 2017 5:46pm
Quoting emmanuel7788
{quote} USDCAD Week 09 Mar 3 update: With US markets bullish and DOW hitting 21,000, this pair moves higher. Next target in sight 1.3445. Notice the TDI is 'wriggling' with rising small candles above and way above the 80-level (strong uptrend seen in H4) Should be interesting to take note of the H4 TDI in the next weeks. Pay attention to the Volatility Band it will change from current balloon shape to a narrow sausage shape responding to the changing price momentum. {image}

Remember this post above,
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now look at your USDCAD H4 chart below, see the 'sausage' forming and look at the price above.

For those of you trading with the Weekly pivots, Do Not sell blindly at R61 , R100, etc. when the market is strong trending.
The fine art of trading with pivots is to look at Price Action for corrections/retracements and trade in the direction of the dominant trend. Do Not try to pick tops and bottoms, it flawed way to trade and you will suffer floating DD which locks up your trading capital and can force margin calls.
Always look at your Weekly charts and study the Price Action PA of the real price bars when you use the APB/HA candles.
Combine the PA of both the real price bars and the APB/HA.
Know the relationship between the market price and its volatility, and you will learn how the TDI works.
Remember Price leads lead the indicator it is derived from.
Price Action trading is the leading edge over the use of the TDI.

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What comes after a 'sausage'?
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #76,792
  • Mar 8, 2017 6:18pm Mar 8, 2017 6:18pm
do a search using keyword 'balloon"

guess what you will find:

https://www.forexfactory.com/showthr...52#post5410652

https://www.forexfactory.com/showthr...73#post6551273
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #76,793
  • Mar 8, 2017 9:20pm Mar 8, 2017 9:20pm
Quoting emmanuel7788
XAUUSD lost it glitter after a good performance. XABCD and that AB=CB did not complete. Market sentiments is strong dollar, safe haven currency for many. Which country has the largest gold reserves and foreign currency reserves? {image}
Hi Emmanuel,

I searched for this information and if the sources I got are correct the country with largest gold reserves is the USA, whereas the country with largest gold and foreign currency reserves combined is China. Of course the USA can print USD /reserve currency/ as much as they want so maybe that is why they are not ahead of China in the combined reserve list.

https://www.statista.com/statistics/...gold-reserves/
http://www.worldatlas.com/articles/c...the-world.html

Now I would love to ask you how you use the answer to your "Which country has the largest gold reserves and foreign currency reserves?" question to your XAUUSD trading.

Thank you as always.

Okoso
  • #76,794
  • Mar 8, 2017 9:59pm Mar 8, 2017 9:59pm
Quote
Quoting emmanuel7788
{quote} USDCAD Week 09 Mar 3 update: With US markets bullish and DOW hitting 21,000, this pair moves higher. Next target in sight 1.3445. Notice the TDI is 'wriggling' with rising small candles above and way above the 80-level (strong uptrend seen in H4) Should be interesting to take note of the H4 TDI in the next weeks. Pay attention to the Volatility Band it will change from current balloon shape to a narrow sausage shape responding to the changing...
can u share pivort indicator emmanuel7788 ?
maintain discipline
  • #76,795
  • Mar 8, 2017 10:08pm Mar 8, 2017 10:08pm
Double inside bar break out just happened on EU H1. H4, D1 and W1 all are in favor of this trade. Hope it gives few pips.

Okoso
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  • #76,796
  • Mar 8, 2017 10:39pm Mar 8, 2017 10:39pm
Quoting emmanuel7788
If you consider yourself to be a newbie trader, did you listen to Big E and go to babypips.com? Did he say, babypips.com/school? No but we took that for granted as default. I suggest you go to babypips forum and learn from some of the finest in forex trading, if you want to learn candlestick trading, here is Tymen in the newbie-island. I spent 2 years in there. http://forums.babypips.com/newbie-is...nger+band+walk that's only part one, part two continues from that....
Trying to read though the thread but seem most of the image cannot be view now...
  • #76,797
  • Mar 8, 2017 11:36pm Mar 8, 2017 11:36pm
Quoting Maule
Hi traders. Found an on-line chart that's been programmed to help you identify which pairs correlate with each other. eg: EURUSD & USDCHF. http://www.currensys.com/correlation.php Instruction manual http://www.currensys.com/resources/C...0Explained.pdf Page 7-9.

That is very good information.

Thanks for sharing this.

to check the correlation in different timeframes, I use this website.

https://www.mataf.net/en/forex/tools/correlation

on ceratin days, you may not see the 3 amigos - AU, EU and GU move in the same direction. But this week these 3 have been riding along nicely. And the oppsoite pair USDCAD and USDCHF are going like they should, in the oppsite direction.

The basic is to know the Base and Quote currency pair and when the USD is strong, you follow the USD when it is the Base and the Quote.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #76,798
  • Mar 8, 2017 11:52pm Mar 8, 2017 11:52pm
USD remains strong and since this morning' Sydney open, all these USD pairs - AUDUSD, EURUSD, GBPUSD, USDJPY, USDCAD, and USDCHF, are now trading away from their Day Open.

The question now is how do we trade H1 during the London session today?
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #76,799
  • Mar 9, 2017 2:09am Mar 9, 2017 2:09am
Quoting luvene
Looks like this, looks like that.............. I read many times....... The lower the timeframe the more "looks like this". Does that make sense? Try it first on the D1 candle on the demo with as less indicators. Only TDI and Price Action HA candles. Forget all others like EMA5, Stochastics, "support and resistance levels". Keep it simple. Of course there are losing trades, I hate that too but you can't avoid that. Sometimes I am in position for 2 weeks, sometimes even for 4 or 5 weeks. Be patient. I know, it's hard but when you are trading on higher...

@Luvene,

Share with us the following:

1) which currency pairs do you trade on D1 charts in the past 2 years, 2015 to 2016?

2) how many trades for each of the currency pair did you do in the last 2 years?


Thanks.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #76,800
  • Mar 9, 2017 2:13am Mar 9, 2017 2:13am
Trading Forex or stocks or whatever is 80% psycho logic and only 20% system/strategy. You can read a lot about it on the Internet. Don't forget this! In other words, don't make it too complicated. Trading is by far one of the most difficult jobs because your emotions take control over you. I know more than anybody else That said, why are you trading on the lower timeframes like 1H / 15M or even lower? It kills you and it makes you more and more nervous. Try it for yourself on the D1 candle for a couple of weeks or months on a demo account. Look at the historical charts for yourself when green crosses red on the TDI and changing color candle accordingly. What do you see? Is it the first or second and remember the words and thoughts of Eelfranz. I know, it can be boring, trading once a day and many times there isn't any signal at all on 12 pairs.

But.... So what!!!!

What is important... trading for trading or trading for money.

Good luck to you all.
Keep it simple without too many crappy indicators!
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