Disliked{quote} No. Not so easy. Post a chart, show me where you want to place an order entry and I can explain better.Ignored
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- #76,942
- Mar 11, 2017 6:29am Mar 11, 2017 6:29am
- Joined Nov 2008 | Status: Trader | 50,196 Posts
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #76,944
- Mar 11, 2017 6:53am Mar 11, 2017 6:53am
- Joined Nov 2008 | Status: Trader | 50,196 Posts
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #76,946
- Edited 9:43am Mar 11, 2017 7:30am | Edited 9:43am
- Joined Sep 2015 | Status: ob-la-di, ob-la-da, life goes on... | 4,499 Posts
Since Frank Sinatra sings in his own way, my chart sing... I did it, my way
- #76,950
- Mar 11, 2017 1:33pm Mar 11, 2017 1:33pm
{quote} emmanuel, i searched for the different types of markets, only to conclude BEARISH, BULLISH, or RANGING. Do you have any information on Van Tharps Market Types 1 thru 3?
Type 2 and Type 3 are variations of the RANGING market.
So according to the post, there are 4 types of markets:
- Bullish
- Bearish
- Sideways-narrow
- Sideways-volatile
Here are rough examples:
- #76,952
- Mar 11, 2017 11:01pm Mar 11, 2017 11:01pm
- Joined Nov 2008 | Status: Trader | 50,196 Posts
{quote} This was a loss for me when i hit SL 2 Candles back low. Is this what you mean about Master candle and failed attempts emmanuel? {image}
But looking at your chart and your trade entry, the market was sideways and your entry was not in a trending market.
You cannot use the 2-bars look back for SL when the market is not trending. In sideways market, look at the consolidation raneg, the high and low of the consolidation area and place your initial SL below the low of consolidation area.
Take a look at the big picture of EurChf. Start looking at its MN chart, then the Weekly chart. What do you see?
MN is showing it is still trading within the Brexit candle June 24, 2016.
Look at the Weekly in my chart below and how it traded last 2 weeks. Buying last week was ok but it depends on how you want to trade. Remember, when trade H4, always have a look at the Weekly at the beginning of the week and plan your trade.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #76,953
- Edited 3:30am Mar 12, 2017 3:05am | Edited 3:30am
{quote} This was a loss for me when i hit SL 2 Candles back low. Is this what you mean about Master candle and failed attempts emmanuel? {image}
One other thing I'd like to point out is to not overthink every trade. There's no 100% success. While it's important to analyze your trades, overthinking will freeze you. According to the arrow pointing to your stop loss, you lost maybe a dozen pips. If you had re-entered at the trend continuation, you would have been net positive and profited a dozen plus pips.
- #76,957
- Edited 7:21am Mar 12, 2017 6:25am | Edited 7:21am
- Joined Nov 2015 | Status: Member's sanity currently on AWOL | 8,930 Posts
{quote} This was a loss for me when i hit SL 2 Candles back low. Is this what you mean about Master candle and failed attempts emmanuel? {image}
The daily(D1) has 6 * H4 bars had will show the change in trend direction sooner. Bar 0 will also tell you more how the buyers and sellers are feeling about the trades placed so far in that day.
Use D1 to get the overall trend direction. According to chart at the time the trade was placed - up.
Switch back to.................. more detail can been given to really confuse you with a detailed chart included. (Which take a lot of time to do)
or you can use BigE Trading Made Simple. Read the following post's by him as in BigE full.pdf
post#686, #1726, #7476, #4005 for trend direction
Reading your post you asked why the buy order's S/L got hit. The answer is on the chart you posted.
- Not useing the indicator's that are to be used. - Multiple time frame indicator leads to multiple confusion.
- Main chart has candle bar and indicator has Heiken Ashi - Again confusioning.
- Which time frame are you useing as the main chart to manage your trade's?
H4? Then use H4 to do your tradeing. Use the information from the chart you trade only, and only trade that chart. Jumping for time frame to time frame is not going to do you any good. It will lead to paralysis by analysis.
Back to the trade you placed and following can be seen:
post#647
- Your safest trades will always be when green crosses red and you enter on candle 1 or 2
Did you enter the trade at the begining of bar 2? Post#2, #6
--------- When wanting to enter a TDI trade... take a moment first to observe basic 4x things... like:--------
- How close am I to the previous high or lo
There is no High or Low close by. You could have asked yourself if this is a spike or a new trend direction
- Am I in an uptrend or downtrend.. short & long term...
Yes up trend
- Am I in or close to a consolidation area
Nothing close by.
- Are the previous candles small...
Got the red candle with the long wick at the top which means the sellers did not like the high buy price. Are they going to do the same with this bar?
Got a green candle also with a long wick at the top. That little wick at the bottom? Sellers are not happy.
- Look at the candles on the last reversal... big, little, what
Lot of small red candles. Not many trader's. Buyers are strong and the sellers also. Something is going to happen. Is this big green candle the reason.
- How does the momentum look right now (12-2, 4-6)
Green is pointing down.
- Stoch post#6 #360
Stoch is pointing down
Did you looked at support / resistance?
Why enter a buy when green and stoch is pointing down? Did you paid any attension to what the TDI green line is doing? Did you really spend time to study / learn / understand / read / practise what BigE has posted?
(faatkume this post is not an attack on you and I do apologize it if does appear like that. You are here to learn and honey coated word's will not help you or any member reading this post.)
Keep it Simple
- #76,958
- Mar 12, 2017 6:47am Mar 12, 2017 6:47am
- Joined Nov 2008 | Status: Trader | 50,196 Posts
EURccy Pairs Week 11 Mar 13 to 17:
With my six(6) favourite EU pairs all showing bullish Weekly candles closed and TDI crossed.
Next week will be chasing buys.
Pick any one pair and make money with ME/ME....buy only.
You can also trade H4 sell when you spot and intra-week swing high. (Plan A) Trade the correction if that presents itself.
But when you see a swing low, you can trade in the direction of the weekly candles. (Plan B) Trade the reversal after the correction.
Whichever you feel is safer for you and you must feel comfortable.
Good Trading TMS Folks.
With my six(6) favourite EU pairs all showing bullish Weekly candles closed and TDI crossed.
Next week will be chasing buys.
Pick any one pair and make money with ME/ME....buy only.
You can also trade H4 sell when you spot and intra-week swing high. (Plan A) Trade the correction if that presents itself.
But when you see a swing low, you can trade in the direction of the weekly candles. (Plan B) Trade the reversal after the correction.
Whichever you feel is safer for you and you must feel comfortable.
Good Trading TMS Folks.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #76,959
- Mar 12, 2017 6:53am Mar 12, 2017 6:53am
- Joined Nov 2008 | Status: Trader | 50,196 Posts
GBPCcy Pairs Week 11 Mar 13 to 17 :
GBP Ccy pairs look mixed, so I pick to trade the weak GBP pairs to trade.
GBP Ccy pairs look mixed, so I pick to trade the weak GBP pairs to trade.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #76,960
- Mar 12, 2017 7:18am Mar 12, 2017 7:18am
- Joined Nov 2008 | Status: Trader | 50,196 Posts
{quote} Trading Made Simple Trading Tools - Expert Advisors, Indicators and Scripts Updates and New Versions Please wait. I am preparing new updates with latest MT4 Version 4 Build 1045. Will PM you when these are completed. These will not be share in this public forum. For those who are non FF members you need to sign up and subscribed to me and I can PM you. For current members, you have to subscribe to me at my profile. This will be indication for me to include you in my PM list for downloads of the new updates. Thank you. Have a good...
Will wait till market opens and see if there are any bugs before I released these new toys to all members.
A quick look at an offline chart below using EURAUD as example to trade next week.
EURAUD daily and weekly both closed bullish. The bias it to buy next week but we must be careful with the timing of our buy trades when we trade with single entry trade.
Remember this pic below about Market Trends;
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett