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Trading Made Simple

  • #79,961
  • May 26, 2017 3:40pm May 26, 2017 3:40pm
Quoting Mattse
{quote} Will you include Cold, Silver, Cooper Markets at your analysis before open any trade??
I only look at Gold Daily chart every day... not other metals - Silver and Copper.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #79,962
  • May 26, 2017 3:55pm May 26, 2017 3:55pm
Thank you Emmanuel for the advice

Cheers and have a great weekend
  • #79,963
  • May 26, 2017 4:20pm May 26, 2017 4:20pm
Hi TMS Folks,

Markets are closed for the weekend now.
Its time for you to do your own homework and also do some more back-testing and learn.
Also do your weekly post-mortem aka POMO of those currency pairs you trade and see how many trade opportunities were there and how many you missed.

Then update your Big Picture Plan with the weekly candle closed. Next week we have month end closing mid-week and this will be another interesting trading week with month end trading.

Post charts and ask any question you may have and I will be here to help you.
I will wind down my trading a little bit next week as I have my summer June vacation from Week 23 to 26.

Have a good weekend.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #79,964
  • May 26, 2017 4:32pm May 26, 2017 4:32pm
Quoting emmanuel7788
{quote} sometimes we need .." a safety valve to release the pressure when opening too many "Monty Hall doors" ..." this I had to do twice today {image}
Hey Emm,

I have been thinking about your " Safety valve" and think maybe it is that your simply cut all losses on whichever pair it is that you made the wrong call on 2+ times and move to another?? I may be well off.. Probably am, just thinking out loud really.

Have a great weekend!
  • #79,965
  • May 27, 2017 1:20am May 27, 2017 1:20am
Quoting TheScorpS
Weekly trades on EA , I started the week with some break-even trades, they were good ones, some of em were late entries which costed me the pips , not exiting at the right time to save as much pips as possible so am working on that part in June Lastly today went long , moved it to BE and went out , couldn't trade the reversal which was one of the best trades thus far this week Hope this helps others keep trying your way around TMS Have a nice weekend y all {image}
Hi TSS ,

thank you for sharing your instructive and realistic charts ! your results are what an honest trader could show instead of those only showing always tremendous results . I have a question for you if I may : do you have an idea of what could be the secret of someone like PHX62 for having such incredible trades starting and ending at the best time , is it work , experiment , 6th sense ," trading in the zone" etc...?
As I told you though I read and re-read his PDF's (for my benefit each time ) , my results though increasingly better , are far from his huge , clear , neat trades .
I would really be interested if he could come back even only for some more examples but now , for me to really understand what are the differences step by step during a trade we could have taken both of us (or not) and see the results and differences at the end of the week !
  • #79,966
  • May 27, 2017 1:31am May 27, 2017 1:31am
Quoting emmanuel7788
{quote} tough week for EA, several choppy days trading in a range. opportunity ahead for that 150pips H1 trade when it start to trade out of the choppy range its 1.5000 and 1.5100 indecision with a Master Candle. I closed 2 buys positions this week and no more trading until price breaks out of that Master Candle. {image}
Sorry Emmanuel7788 but I did not understand you well (maybe my english not being my mother language ) : about Eur/Aud trading week
- do you want to say that it was a good opportunity to make a trade that could have a result of 150 pips ? (can you show me ?)
- what are the trades closed that you speak about ( on which time frame etc...)

Thank you in advance for your kind answer
  • #79,967
  • May 27, 2017 3:37am May 27, 2017 3:37am
Quoting bodal
{quote} Hi TSS , thank you for sharing your instructive and realistic charts ! your results are what an honest trader could show instead of those only showing always tremendous results . I have a question for you if I may : do you have an idea of what could be the secret of someone like PHX62 for having such incredible trades starting and ending at the best time , is it work , experiment , 6th sense ," trading in the zone" etc...? As I told you though I read and re-read his PDF's (for my benefit each time ) , my results though increasingly better...
Its doable , I think I will be able to reach this goal of entering and exiting the way phx62 does business, experience does matter a lot, I keep studying his chart to see what I will do to enter and exit the way he does

EA enterd a range this week due to forming a Mother Candle on the daily chart, that range was a reason of EA running aggressive between 30-50 pips range a trade , he even stated that for a trade to reach its target an early entry is a must which is what am working on
I Have Learned to Take Some Losses to Make Profits
  • #79,968
  • Edited 11:53pm May 27, 2017 11:39pm | Edited 11:53pm
Hello guys , I have created one Indicator to make it even Simpler Attaching a screenshot If you like it
https://www.forexfactory.com/showthr...64#post9916964

Shared it here already.. It will support you visually , Allso i am working on TDI Ultimate..
Will update when its ready

I can honestly say i really saw good benefit on high periods and colour changes.
Will update them when i get it done.
Attached Image (click to enlarge)
Click to Enlarge Name: TDI.png Size: 59 KB
Take it easy.
  • #79,969
  • May 27, 2017 11:42pm May 27, 2017 11:42pm
Quoting Quants
Hello guys , I have created one Indicator to make it even Simpler Attacing a screenshot If you like it https://www.forexfactory.com/showthr...64#post9916964 Shared it here already.. It will support you visually , Allso i am working on TDI Ultimate.. Will update when its ready I can honestly say i really saw good benefit on high periods and colour changes. Will update them when i get it done. {image}
And here is how TDI Ultimate looks like Not finished yet but it helps to filter out some noise. :
Attached Image (click to enlarge)
Click to Enlarge Name: 75.png Size: 51 KB
Take it easy.
  • #79,970
  • Edited 12:56am May 28, 2017 12:39am | Edited 12:56am
Quoting emmanuel7788
{quote} NZDUSD Week 21 D1 trades update May 26. yesterday D1 candle did closed Inside Bar but the HA did not change in colour. And today the bullish rally is intact. Will decide later to close and take profits or move SL to below today' low and rollover tol next week. Lets see if today make a higher high before it closing. If it does make a higher high, I trail using 2 days look back. {image}

NZDUSD Week 21 update when Friday closing.

D1 did make a higher high before the day close on Friday. In fact it closed a Bullish Engulfing Outside Bar BEOB which is also a breakout of the Thursday Inside Bar D1 .
I move my trades protective stops to below Friday's Low and keep my target near the spike high of Mar 21. That is below the BRN 0.7100 and we shall see how the market will trade next week.
It will be buy bias for next wee's trading looking at Weekly and Daily. But beware of price pullback due to profit taking as it near to month end. Use the pullback to build up buy positions or you may prefer to wait till next week MN close, update your Big Picture Plan and make a new trade plan for June trading.
Attached Image (click to enlarge)
Click to Enlarge Name: NZDUSD Week21 D1 closed May26.png Size: 53 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #79,971
  • May 28, 2017 12:53am May 28, 2017 12:53am
Quoting bodal
{quote} Sorry Emmanuel7788 but I did not understand you well (maybe my english not being my mother language ) : about Eur/Aud trading week - do you want to say that it was a good opportunity to make a trade that could have a result of 150 pips ? (can you show me ?) - what are the trades closed that you speak about ( on which time frame etc...) Thank you in advance for your kind answer

I think you misunderstood my previous post.
I did not mean there was a 150pips trade on H1 last week.
But if you look at my D1 chart posted above, the market went into consolidation range with that Master Candle confirmed on May 24.

What I meant was when the market breaks out of that narrow range there can be opportunity for a 150 pips trade on H1.
but we need to check the volatility of this EURAUD pair and the trading hours.
This pair tends to move during the Tokyo session and before London open. But after London session closes, it remain less volatile.
Trading intraday means you need to specific trading hours and you cannot afford to be watching your H1 chart for trade opportunities all day long.
If your trading hours starts from London open, you may miss the setups on H1.

Attached Image (click to enlarge)
Click to Enlarge Name: EURAUD H1 Volatility 20 weeks.png Size: 16 KB


the average trading range for this pair has dropped since Jan this year. Trying to catch 50 pips per trade on H1 is rather difficult in recent weeks unless you are at your charts every hourly close and know exactly when to pull the trigger. Trading based on hindsight charts is make trading looks easy. All it takes is do one trade and then replicate that into several trades on charts and post them like real trades. It is like back-testing.

https://www.mataf.net/en/forex/tools/volatility
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #79,972
  • May 28, 2017 1:08am May 28, 2017 1:08am
Quoting Seshwaan
{quote} Hey Emm, I have been thinking about your " Safety valve" and think maybe it is that your simply cut all losses on whichever pair it is that you made the wrong call on 2+ times and move to another?? I may be well off.. Probably am, just thinking out loud really. Have a great weekend!

the clue is here:

https://www.forexfactory.com/showthr...82#post9893382
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #79,973
  • May 28, 2017 1:13am May 28, 2017 1:13am
Quoting emmanuel7788
{quote} Here is a MC[3] pattern for next weeks trading. {image} And below, how we could have traded in the lower TF H1 with that MC[3] High-Low as support and resistance. {image}

did anyone trade the breakout of that MC last week?
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #79,974
  • May 28, 2017 1:35am May 28, 2017 1:35am
Quoting emmanuel7788
Hi TMS Folks, Markets are closed for the weekend now. Its time for you to do your own homework and also do some more back-testing and learn. Also do your weekly post-mortem aka POMO of those currency pairs you trade and see how many trade opportunities were there and how many you missed. Then update your Big Picture Plan with the weekly candle closed. Next week we have month end closing mid-week and this will be another interesting trading week with month end trading. Post charts and ask any question you may have and I will be here to help you....
Hi Emmanuel,

Last week, my trade plan was long GBPUSD, EURNZD, EURGBP, EURJPY, and also long XAUUSD. I made some good pips on EURGBP, EURJPY and XAUUSD trades while I lost on GBP about 60+ pips. But it looks like all my gains will get wiped out my EURNZD long trades which are still open but are in loss.

Now I am asking what is my bias for EURNZD for next week? My answer is EURNZD is still in buy territory because W1 PA is still well above 10EMA and until pin bar low of Week 19 is not taken it is in buy bias. Also D1 looks like the market structure is making another LOWER HIGH?

Hope to have your view on this.

Okoso
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EURNZDWeekly28May17.png Size: 43 KB
Click to Enlarge Name: EURNZDDaily28May17.png Size: 53 KB
  • #79,975
  • May 28, 2017 3:50am May 28, 2017 3:50am
Hi fellow traders.

My pick for the next week MEME trade is long XAUUSD and short GBPJPY.

W1 XAUUSD is making Low, High, HL, HH, HL and last week we had 3rd consecutive bullish bar and D1 we had MC(3) breakout on last Friday.

Thanks for your comments.

Warning: I am a newbie, so this plan is for discussion and learning purpose only.

Okoso
Attached Image(s) (click to enlarge)
Click to Enlarge Name: XAUUSDDaily28.05.17.png Size: 47 KB
Click to Enlarge Name: XAUUSDWeekly28.05.17.png Size: 49 KB
  • #79,976
  • May 28, 2017 6:19am May 28, 2017 6:19am
Quoting okoso
{quote} Hi Emmanuel, Last week, my trade plan was long GBPUSD, EURNZD, EURGBP, EURJPY, and also long XAUUSD. I made some good pips on EURGBP, EURJPY and XAUUSD trades while I lost on GBP about 60+ pips. But it looks like all my gains will get wiped out my EURNZD long trades which are still open but are in loss. Now I am asking what is my bias for EURNZD for next week? My answer is EURNZD is still in buy territory because W1 PA is still well above 10EMA and until pin bar low of Week 19 is not taken it is in buy bias. Also D1 looks like the market...

The Weekly price bar pattern looks very bearish so be prepared for some follow through early next week with traders chasing sell.
You have your SL below and you need to decide to fight this one next few days to cut losses early.
But on a longer term I am bullish.You can review your trade plan and make changes if you want to.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #79,977
  • May 28, 2017 6:21am May 28, 2017 6:21am
Quoting okoso
Hi fellow traders. My pick for the next week MEME trade is long XAUUSD and short GBPJPY. W1 XAUUSD is making Low, High, HL, HH, HL and last week we had 3rd consecutive bullish bar and D1 we had MC(3) breakout on last Friday. Thanks for your comments. Warning: I am a newbie, so this plan is for discussion and learning purpose only. Okoso {image} {image}

I am bullish with this. Targets 1283 and 1295 are good.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #79,978
  • May 28, 2017 7:40am May 28, 2017 7:40am
Quoting okoso
Hi fellow traders. Thanks for your comments. Warning: I am a newbie, so this plan is for discussion and learning purpose only. Okoso {image} {image}
naa, I totally disagree with you in this case.

I really like your contributions here, they´re well explained with a clear view.

Stay tuned
Guido
Risiko birgt immer auch die Chance.
  • #79,979
  • May 28, 2017 3:42pm May 28, 2017 3:42pm
Hello everyone,

This is my first post on forexfactory. I'm new to trading Forex so technically I'm a noob, even tho I've spent about 3 years trading in Iran's stock market.

Quoting mizi123
When something works works allsao deserves publicity new month is coming have a nice weekend friends 11 days is older position. {image}
I'm currently using MT5 for trading forex, and I was wondering if these indicators can be added to MT5 as well? or do they only work on MT4?

Since I have other setups already in place on my MT5, it would be better if I didn't have to move back to MT4 in order to use this system.

any help or advice about this problem would be dearly appreciated.
  • #79,980
  • May 28, 2017 10:35pm May 28, 2017 10:35pm
Quoting emmanuel7788
{quote} The Weekly price bar pattern looks very bearish so be prepared for some follow through early next week with traders chasing sell. You have your SL below and you need to decide to fight this one next few days to cut losses early. But on a longer term I am bullish.You can review your trade plan and make changes if you want to.
Hi Emmanuel,

Thank you for your help.

My issue is not wanting to make changes but it is not knowing how to review the plan and make the necessary changes.

But possible options are:

- close positions right away, no matter what is the longer term outlook.
- Leave as it is and wait either SL or TP gets hit.
- Close the oldest position and start building if opportunities arise

Can you please tell me what would you do if you were in this situation?

I promise I will not be making complains if your suggestions wouldn't go as explained.

Okoso
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