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Trading Made Simple

  • #77,901
  • Mar 20, 2017 4:33pm Mar 20, 2017 4:33pm
hoping for a couple of late night pips signal confirmed from 1d trough to 30m lol.
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  • #77,902
  • Mar 20, 2017 4:40pm Mar 20, 2017 4:40pm
Quoting baidovich
Euuh , a beautiful simple trade {image}

Yes. That is a beautiful trade entry.

Market looks toppisch on your chart with wide range consolidation. seen with that big bar on the far left side.
The sell-off from the consolidation range top with H4 bars making high-low, lower high-lower low, lower high-lower low, ......makes perfect trend confirmation to short.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #77,903
  • Mar 20, 2017 4:45pm Mar 20, 2017 4:45pm
Quoting ftwforex
Hi all, Anyone else thinks the GBPUSD looks good on 1H, 4H and daily? - From a TMS view https://charts.mql5.com/14/450/gbpus...ivision4-2.png https://charts.mql5.com/14/450/gbpus...ivision4-2.png https://charts.mql5.com/14/450/gbpus...ivision4-4.png

H4 looks like price has lost its bullish momentum while D1 HA candle is still blue.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #77,904
  • Mar 20, 2017 4:49pm Mar 20, 2017 4:49pm
Quoting Sup3rnov4
hoping for a couple of late night pips signal confirmed from 1d trough to 30m lol. {image}

H1 bars and HA candles are very small and that usually means bigger things to happen.

I stay in buyer side on H4 until the next H4 HA candle close with colour change.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #77,905
  • Mar 20, 2017 4:54pm Mar 20, 2017 4:54pm
For TMS - is there a preferred "Broker" time for the start of H4 and Daily candles? (GMT+5), (GMT-2), or GMT ?????
  • #77,906
  • Mar 20, 2017 5:06pm Mar 20, 2017 5:06pm
Quoting emmanuel7788
NZDUSD Week 12 - Resistance seen on chart Mar 20, {image} we need to look at the Price Action - to see if there will be more buyers to push price higher, until that happens we look after the downside of our trades. Protect our trading capital, protect floating profits. When there is no resistance above, it will be empty space where we look to trade into empty space. Is this simple enough? "Practice what you preach", I heard that one recently.

NZDUSD Mar 21 H4 update:

No exit yet with HA candles. but if you are a die-hard TMS purist and trade like Big E risking 15% to 30% per trade with $10k account, then you would be out of the market when price pulls back.

Attached Image (click to enlarge)
Click to Enlarge Name: NZDUSD Week 12 Mar 21 H4 update.png Size: 79 KB


Using the HA candles they give you smoother view of the market but the HA candles are not the real price. Know it and use them HA candles because it had its intrinsic value which tell us half the story. The other half of the story is in the real price bars or candlesticks. We trade the price.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #77,907
  • Mar 20, 2017 5:08pm Mar 20, 2017 5:08pm
This is why I'm still learning and not wasting money.. I will get there one day lol
  • #77,908
  • Mar 20, 2017 5:09pm Mar 20, 2017 5:09pm
Quoting Kopan
For TMS - is there a preferred "Broker" time for the start of H4 and Daily candles? (GMT+5), (GMT-2), or GMT ?????

broker server time does not matter
brokers do change their server time when DST.
TDI uses the RSI data, and when there is change in price OHLC and or price gaps, the RSI data changes accordingly. This when the TDI is not reliable.

The same for the HA candles. When there are price gaps, the HA will not show the price gaps. It smoothen the price ...


Trade by looking at the price action
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #77,909
  • Mar 20, 2017 5:14pm Mar 20, 2017 5:14pm
Quoting Sup3rnov4
This is why I'm still learning and not wasting money.. I will get there one day lol

You will get there but not before you pay some tuition money. I did for 10 years, paying tuition money using my salary.
After 10 years, I got smart, smarter, ..... that is why I am here to tell you people this:

Too much time is being spent on TDI and Stochastics,
Too little 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
  • #77,910
  • Mar 20, 2017 5:21pm Mar 20, 2017 5:21pm
Definitely won't get there then if I need to spend money as I don't have it or the time I'm a chef but I taught myself everything I know as a chef without tuition and I dam good so I won't give up. To be honest my brain runs at a mile a minute and I needed something to keep it focused that's why I have been trying to self educate in this field
  • #77,911
  • Mar 20, 2017 5:38pm Mar 20, 2017 5:38pm
Quoting Sup3rnov4
Definitely won't get there then if I need to spend money as I don't have it or the time I'm a chef but I taught myself everything I know as a chef without tuition and I dam good so I won't give up. To be honest my brain runs at a mile a minute and I needed something to keep it focused that's why I have been trying to self educate in this field

There is one thing you have as a chef which a trader must have too - the passion and the special ingredient in their recipes, " the amore".
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #77,912
  • Mar 20, 2017 5:52pm Mar 20, 2017 5:52pm
Quoting Uk1
{quote} Emm, Is this something you coded yourself? I am looking to get something similar coded for back-testing / optimising ME/ME, (I PM'd you on this).
Hi Uk1,

No, I am not a good coder. That was done by a buddy of mine years ago.
I added into that some other Entry and Exit rules and run them to see the number of trades in give period of time and the number of pips won/loss.
We do this in our system development and using the backtest data to prepare our trading business plans for different trading systems - like for Intraday H1, 4H Swing trading and D1 Position trading.
The backtesting is done for all available currency pairs and we then select the pairs we want to trade. With the backtesting data, we know the number of possible trades per month, quarter and year. This will help us allocate our trading capital to each system to use that to plan our financial targets. This is how I arrived at target 10% per every 20-days trading cycle and not per month. There will be many days where you will not find good trades in any one of the 3 systems. But one system can make up for the other system. Usually the D1 chart trading system will produce more returns in terms of Rs with fewer number of trades.

Does this make sense?
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #77,913
  • Mar 20, 2017 7:04pm Mar 20, 2017 7:04pm
Quoting emmanuel7788
{quote} broker server time does not matter brokers do change their server time when DST. TDI uses the RSI data, and when there is change in price OHLC and or price gaps, the RSI data changes accordingly. This when the TDI is not reliable. The same for the HA candles. When there are price gaps, the HA will not show the price gaps. It smoothen the price ... Trade by looking at the price action

The basis of my question was actually more focused on when the H4 bar "Closes" and forms a New Bar, relative to when London "Opens".

If the H4 bar closes shortly "before" London Opens, then you will have to wait a couple of hours into the session before making an entry. (assuming you wait for the bar to close)

Is that good/bad/ or indifferent?

Or is it better to have a broker time that coincides directly to to London Open time?
  • #77,914
  • Mar 20, 2017 9:35pm Mar 20, 2017 9:35pm
Hello fellow traders.

I am looking at EA 4H trade. My 4H candle closes in about 30 minutes and it looks like we may have a TMS setup here. Pros for this trade are we have BUEB and as well as 3 bar reversal pattern at the most recent support in confluence with BRN 1.39. Cons for this trade are it is against both W1 and D1 and also price structure shows high-low, lower high-lower low.

Anyone watching this pair?

Okoso
Attached Image (click to enlarge)
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  • #77,915
  • Mar 20, 2017 9:45pm Mar 20, 2017 9:45pm
Okoso, I'm also watching EURAUD, but I'm on the sell side, looking now for a break of a monthly line which will also look like a bounce trade and then will entry with MEME, targets will be 1.3700/1.3600.

regards
  • #77,916
  • Mar 20, 2017 9:53pm Mar 20, 2017 9:53pm
Okoso - My Broker time is is New York. So my H4 candle does not close for another 3+ hours..... let me know how it goes.
  • #77,917
  • Mar 20, 2017 9:53pm Mar 20, 2017 9:53pm
Osko, caution here if it reverses and continues the down trend
Attached Image (click to enlarge)
Click to Enlarge Name: EURAUD 4.50amGMT.png Size: 150 KB
  • #77,918
  • Mar 20, 2017 10:05pm Mar 20, 2017 10:05pm
Quoting okoso
Hello fellow traders. I am looking at EA 4H trade. My 4H candle closes in about 30 minutes and it looks like we may have a TMS setup here. Pros for this trade are we have BUEB and as well as 3 bar reversal pattern at the most recent support in confluence with BRN 1.39. Cons for this trade are it is against both W1 and D1 and also price structure shows high-low, lower high-lower low. Anyone watching this pair? Okoso {image}

I am watching this pair everyday... we have a 5-bars Swing Low PA.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #77,919
  • Mar 20, 2017 10:10pm Mar 20, 2017 10:10pm
Quoting emmanuel7788
{quote} NZDUSD Mar 21 H4 update: No exit yet with HA candles. but if you are a die-hard TMS purist and trade like Big E risking 15% to 30% per trade with $10k account, then you would be out of the market when price pulls back. {image} Using the HA candles they give you smoother view of the market but the HA candles are not the real price. Know it and use them HA candles because it had its intrinsic value which tell us half the story. The other half of the story is in the real price bars or candlesticks. We trade the price.

NZDUSD Mar 21 H4 candle closed. Exit when HA candle closed and colour changed.

Attached Image (click to enlarge)
Click to Enlarge Name: NZDUSD Week 12 Mar 21 H4 update trade exit.png Size: 67 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #77,920
  • Mar 20, 2017 10:16pm Mar 20, 2017 10:16pm
Quoting Kopan
{quote} The basis of my question was actually more focused on when the H4 bar "Closes" and forms a New Bar, relative to when London "Opens". If the H4 bar closes shortly "before" London Opens, then you will have to wait a couple of hours into the session before making an entry. (assuming you wait for the bar to close) Is that good/bad/ or indifferent? Or is it better to have a broker time that coincides directly to to London Open time?

my H4 bar has the London Open LO in it.
Last week LO was the 3rd hour in my H4.
This week, after DST, the LO is now 4th hour of my H4.
after this weekend, London will do its DST and then it will be back LO is the 3rd hour of my H4.

This does not matter, as i look at the PA on my H4 chart when I trade the 4H Swing.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
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