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Trading Made Simple

  • #82,021
  • Sep 17, 2017 6:38am Sep 17, 2017 6:38am
Quoting okoso
{quote} Hi Emmanuel, Would you mind sharing your trades for the past week on GBPCAD as you show on AUDJPY? Thanks in advance, Okoso

Hi,

Screen shot of all trades from Sep 04 to Sep 14 closed.

I did not open new trades on Sep after the last batch closed as according to my trade plan. Next week will start a new 20-trading days cycle.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPCAD trdae Sep 04 to 15.png Size: 40 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #82,022
  • Sep 17, 2017 6:40am Sep 17, 2017 6:40am
https://www.forexfactory.com/attachm...8&d=1263946609
  • #82,023
  • Sep 17, 2017 7:50am Sep 17, 2017 7:50am
Quoting saad007
This weeks reading list's {image}
Hi, can you join these together and share them here? I think it should be welcomed by most people.
  • #82,024
  • Sep 17, 2017 10:34am Sep 17, 2017 10:34am
Emmanuel, what is your take on Big E's rule about not taking trades where Green TDI is above or below the 70/30 levels?
Has there been a discussion/revisit of that in the last 50,000 posts which I probably missed?

I have passed on H1 and H4 GBPJPY trades this week mainly because of that but I realize this wasn't necessarily a good idea.
Thanks
D
  • #82,025
  • Sep 17, 2017 12:33pm Sep 17, 2017 12:33pm
Quoting tomgu
{quote} Hi, can you join these together and share them here? I think it should be welcomed by most people.
You will find all of them here.
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  • #82,026
  • Sep 17, 2017 5:19pm Sep 17, 2017 5:19pm
Quoting darko2010
Emmanuel, what is your take on Big E's rule about not taking trades where Green TDI is above or below the 70/30 levels? Has there been a discussion/revisit of that in the last 50,000 posts which I probably missed? I have passed on H1 and H4 GBPJPY trades this week mainly because of that but I realize this wasn't necessarily a good idea. Thanks D

this does not work in strong trending market type.

oscillators like TDI, RSI, etc. work best in ranging market type.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #82,027
  • Sep 17, 2017 5:23pm Sep 17, 2017 5:23pm
Quoting emmanuel7788
{quote} this does not work in strong trending market type. oscillators like TDI, RSI, etc. work best in ranging market type.
Thanks
  • #82,028
  • Sep 17, 2017 5:40pm Sep 17, 2017 5:40pm
Quoting mazibee
Hi All Experts/ Emmanuel Last week was not very good. USDCAD was manually closed on loss AUDUSD closed on breakeven EURGBP in good profit Though overall it was net profit for the week Here is my Big Picture Analysis for the coming week. Any sugestion/criticism is most welcome. USDJPY Can be bought straight when the market opens There is a BUOB in the day Week and Month are Bullish NZDUSD Can be bought when the market opens or wait till Tuesday open There is a BUEB in the day Week and Month are bullish (Though the price here is somewhat trapped in...

nothing nice for D1 chart trading in the 19 pairs I have on my watchlist.

which means there will be breakouts potential anytime this week and next.

questions is: How do you get into the market before the breakout?
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #82,029
  • Sep 17, 2017 9:14pm Sep 17, 2017 9:14pm
Quoting emmanuel7788
{quote} Hi, Screen shot of all trades from Sep 04 to Sep 14 closed. I did not open new trades on Sep after the last batch closed as according to my trade plan. Next week will start a new 20-trading days cycle. {image}
Hi Emma,
I learn a lot about how to reduce Loss and catch right opportunity to exit when REVERSAL happened from the GBPCAD pair. thank you very much.
what i learned including:
1:WHEN to colse ME1/ME2 and add more ME.
2:WHEN to colse the basket.
hope every one can catch this and improve your skill of MEME from the post.
  • #82,030
  • Sep 17, 2017 10:48pm Sep 17, 2017 10:48pm
Quoting emmanuel7788
{quote} nothing nice for D1 chart trading in the 19 pairs I have on my watchlist. which means there will be breakouts potential anytime this week and next. questions is: How do you get into the market before the breakout?
Hello Emm,

"How do you get into the market before the breakout?" YESSSS, that a question I asked myself many times before. When price breaks out market will often run in one way and we have no chance to build a good position with MEME imo How can we solved this problem? Look for a good situation on HTF monthly/weekly and than look on D1 for consolidation/beginning that markets will turn into right direction?

best regards

Thorsten
  • #82,031
  • Sep 17, 2017 11:06pm Sep 17, 2017 11:06pm
Quoting kevinfeng
{quote} Hi Emma, I learn a lot about how to reduce Loss and catch right opportunity to exit when REVERSAL happened from the GBPCAD pair. thank you very much. what i learned including: 1:WHEN to colse ME1/ME2 and add more ME. 2:WHEN to colse the basket. hope every one can catch this and improve your skill of MEME from the post.
can you please write your experince about MEME, answer your own 2 questions? thanks.
  • #82,032
  • Sep 18, 2017 12:14am Sep 18, 2017 12:14am
Quoting emmanuel7788
{quote} nothing nice for D1 chart trading in the 19 pairs I have on my watchlist. which means there will be breakouts potential anytime this week and next. questions is: How do you get into the market before the breakout?
My take is you look at the price action, e.g. EUR/AUD has had two weekly candles with long lower wicks, both of which have the body inside the previous down bar, daily is ranging but larger moves up than down the last few days, and no closes below 1.4800. I would expect a move up, but I'm still trying to learn this stuff.
  • #82,033
  • Sep 18, 2017 12:23am Sep 18, 2017 12:23am
Quoting emmanuel7788
{quote} No. Not this way. It is about % Risk per trade and Position Sizing. Then Build Positions in one basket of trades, manage the average entry price of the basket. Closed the basket in profit$$$ not the pip count.
Hello Emmanuel,

Acknowledging you're much more experienced than I am, I have a doubt:

You've stated many times that with ME/ME we get an average entry price from a basket while building positions.

So, if someone somehow finds a way to enter close to your average entry price with a single net position with the same size as your combined lots , then he/she would achieve your same results?

And that someone would not have incurred in the equity/floating drawdown that you had while 'building positions' since he/she was not in the market yet.

I assume it only works since we don't know how deep the retrace will be.

But anyway, is it not better to use a single entry, because ME/ME could end up being just another 'trading fallacy'?

Same concept can be applied to the guys trading bounces off imaginary pivots with multiple entries.

I do not want to seem like a know-it-all, these are just questions, maybe I am wrong.

(Of course, I guess if someone is successful using ME/ME, he/she must continue using it)

Thank you

Cheers
  • #82,034
  • Sep 18, 2017 2:41am Sep 18, 2017 2:41am
HI All, new member here. I have done extensive reading of this thread over the last few days and currently trying to implement the rules of the system to my trading.

Currently with one provider who has their own platform but does not have any functionality to import indicators so currently have the 2 & 4 sma set up to see how this performs with the system.

Will try and keep you updated on how I'm going. I'm also trying out a demo acct with another provider who utilises the MT4 and also the cTrader platform, already imported the TDI indicator. The only issue I have is that i can only trade that one after work...

Rob
  • #82,035
  • Edited 5:18am Sep 18, 2017 4:47am | Edited 5:18am
Quoting Black
{quote} Hello Emmanuel, Acknowledging you're much more experienced than I am, I have a doubt: You've stated many times that with ME/ME we get an average entry price from a basket while building positions. So, if someone somehow finds a way to enter close to your average entry price with a single net position with the same size as your combined lots , then he/she would achieve your same results? And that someone would not have incurred in the equity/floating drawdown that you had while 'building positions' since he/she was not in the market yet....
Hi Black
Excuse me for cutting in. If you could enter about the Average price with the same lots, you would be either a genius or extremely lucky. Many have tried to pick the sweet spot as a trend develops but you will probably blow your account trying. That's the point about multiple entry's, you don't need to be lucky. You just need to be disciplined.
Trading thin liquidity at the boundary of the charts
  • #82,036
  • Sep 18, 2017 10:58am Sep 18, 2017 10:58am
Long USDCAD anyone?
  • #82,037
  • Sep 18, 2017 11:10am Sep 18, 2017 11:10am
Quoting darko2010
Long USDCAD anyone?
Not entered.But potential buy position.W1,D1 divergence and bullish PB rejection.
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  • #82,038
  • Edited 11:40am Sep 18, 2017 11:25am | Edited 11:40am
Quoting mazibee
Hi All...Any sugestion/criticism is most welcome................ USDJPY Can be bought straight when the market opens There is a BUOB in the day Week and Month are Bullish........... Regards
Hi Mazibee.

Just think about it how you accept a "open" candle.

UJ monthly (I use only the closed bars for my view) was a bearish indecision bar.
-No critic!
-Just think about it if youīd give more weight to a open or a closed candle.

By the way.. the YEN and GBP crosses looks best at my big picture view some are candidates for the "year end rally".



Stay tuned
Guido
Attached Image (click to enlarge)
Click to Enlarge Name: InkedUSDJPYcMonthly_LI.jpg Size: 753 KB
Risiko birgt immer auch die Chance.
  • #82,039
  • Sep 18, 2017 11:27am Sep 18, 2017 11:27am
Quoting RickM
{quote} Hi Black Excuse me for cutting in. If you could enter about the Average price with the same lots, you would be either a genius or extremely lucky. Many have tried to pick the sweet spot as a trend develops but you will probably blow your account trying. That's the point about multiple entry's, you don't need to be lucky. You just need to be disciplined.
Hello Rick,

what you say sounds logic, that is why I wrote: Maybe it only works because we don't know how deep the retracement will be.

I will not blow my account, if I use Money Management which it's only useful to preserve capital but it doesn't directly provide success to the system.

Could you provide an example at a point where you would use ME/ME based on your long-term bias with your big picture plan, and the average entry price of your basket while builing position in the retracement (Pros and cons).

Then I'll try to do the same after the retracement develops (explaining my approach) using a single-entry (Pros and cons).

I'm not against ME/ME, I just want to see the real benefits of it.

Thanks.

Cheers
  • #82,040
  • Edited 1:41pm Sep 18, 2017 12:49pm | Edited 1:41pm
Quoting Black
{quote} Hello Rick, what you say sounds logic, that is why I wrote: Maybe it only works because we don't know how deep the retracement will be. I will not blow my account, if I use Money Management which it's only useful to preserve capital but it doesn't directly provide success to the system. Could you provide an example at a point where you would use ME/ME based on your long-term bias with your big picture plan, and the average entry price of your basket while builing position in the retracement (Pros and cons). Then I'll try to do the same after...

Hi Black.
You do absolutely right to jump not on every train. ..

In fact:
The "whole" MEME thing isn t that easy.
There are so many different settings possible :
" start with small and scale"
"start with larger positions and kick some step by step out"
"small TP"
"large TP"... and manymanymanymany more.

Trading isn t a sprint.... itīs a marathon.
And only those who learn before their whole capital is blown off are the survivors.

You need a lot of different demo acounts with the same pair, same entry, same exit but different small or wide TPīs to see the benefits or risks.
.. and NO.. thatīs not that easy, because only forward testing shows almost real results.
.. and just 10 trades don t say anything.
You need a valuable number of trades to make a statistic. (I learned at school 100), in a D1 chart it means 12-18 months !!!!! (1-2 trades a week)


I can strongly recomment to build small groups (with 2-6 traders on the same level) with the same IDEA .. no other systems, no intraday talk .. ..... seperate it from the main room.
Split the possible pairs and share results.. it safes a lot of time.

Patience is the key for trading, the sprinters pay the bill.

It requires a lot of time ... years.. to get the right way.

I am really happy with Emmīs postings in this thread..
Some of them are golden.

As higher the timeframe as easier it is.

I hope I could explain with a couple of lines how complex trading by itself is.
And learning a smart moneymanagement is additional.

Final word:
Yes, itīs productive.

Stay tuned
Guido
Risiko birgt immer auch die Chance.
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