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Trading Made Simple

  • #76,541
  • Mar 3, 2017 6:48am Mar 3, 2017 6:48am
Quoting Uk1
{quote} Hi Emm, I am still demo trading, but the real account base capital I have always anticipated starting with would be around 3000. Would be great to see you run live trades with this size account for me :-)

OK. No problem.

I will ask my broker to open a new live account AU$5,000 ( £3000 x 1.6) next week.
This will take a few days to move some of my money from another account to this new account.
Then I will make a new (scaled-down version 10:1 ) business plan and trade this AU$5,000 account.
Will update you when done and start trading.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #76,542
  • Mar 3, 2017 6:50am Mar 3, 2017 6:50am
Quoting pips29
{quote} Emm. can you post the download for the fibo pivots pls?

Ok. PM you the download.
Forbidden to post non-TMS stuff here.
People get upset when I do it.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #76,543
  • Mar 3, 2017 6:56am Mar 3, 2017 6:56am
Quoting mokuro89
{quote} Hi Emmanuel is it possible to post or pm me this loss trades? for learning purpouses. I belive there is much to learn from that as much as winner trades, since it's problem to me on "cutting losses" on D1 when MEME, when to spot that the losses must be cut instead of keep buying/selling the retracement Thanks

Here is my trade summary:

Note, this is not ME/ME trades. I use multi-lot strategy but instead of making 3 lot entries, I make one entry and using THV CaveManager to manage 3 exits .

Attached Image (click to enlarge)
Click to Enlarge Name: Trades closed Mar 1-3 H1.png Size: 60 KB


trade details below:
Attached Image(s) (click to enlarge)
Click to Enlarge Name: AUDUSD trades Mar 1 to 3 closed.png Size: 33 KB
Click to Enlarge Name: AUDJPY trades Mar 1 to 3 closed.png Size: 27 KB
Click to Enlarge Name: EURUSD trades Mar 1 to 3 closed.png Size: 29 KB
Click to Enlarge Name: EURJPY trades Mar 1 to 3 closed.png Size: 27 KB
Click to Enlarge Name: GBPUSD trades Mar 1 to 3 closed.png Size: 28 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #76,544
  • Mar 3, 2017 6:58am Mar 3, 2017 6:58am
more ...trade details

Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD trade Mar 1 to 3 closed.png Size: 27 KB


Attached Image (click to enlarge)
Click to Enlarge Name: USDCHF trade Mar 1 to 3 closed.png Size: 27 KB


Attached Image (click to enlarge)
Click to Enlarge Name: USDJPY trades Mar 1 to 3 closed.png Size: 29 KB


traded 8 pairs, instead of GBPJPY I traded AUDJPY.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #76,545
  • Mar 3, 2017 7:00am Mar 3, 2017 7:00am
Quoting emmanuel7788
{quote} OK. No problem. I will ask my broker to open a new live account AU$5,000 ( 3000 x 1.6) next week. This will take a few days to move some of my money from another account to this new account. Then I will make a new (scaled-down version 10:1 ) business plan and trade this AU$5,000 account. Will update you when done and start trading.
Thank you, very much appreciated. Could I ask that you trade this using no less than the D1 time frame for actual entries / exits (as I will be)? Of course HTF analysis above this is OK as normal.

Thanks
  • #76,546
  • Mar 3, 2017 8:24am Mar 3, 2017 8:24am
Quoting Uk1
{quote} Thank you, very much appreciated. Could I ask that you trade this using no less than the D1 time frame for actual entries / exits (as I will be)? Of course HTF analysis above this is OK as normal. Thanks
I switched to daily chart trading 2 days ago as well
put a EJ trade and cut it early (lesson learned) instead of getting in again with MEME

I am very much interested to learn from all this too

thanks for all the info and charts emmanuel
  • #76,547
  • Mar 3, 2017 8:30am Mar 3, 2017 8:30am
Quoting bistolis
{quote} I switched to daily chart trading 2 days ago as well put a EJ trade and cut it early (lesson learned) instead of getting in again with MEME I am very much interested to learn from all this too thanks for all the info and charts emmanuel
Hi bistolis,
I can only trade EOD, due to working in the day, I'm based in the UK. It is very difficult for me to manage trades on any shorter time frame(s). I eventually plan to manage trades with the help of a trade manager run on MT4 hosted via VPS, but a method and understanding based around entries on no less than D1 would be ideal for me.
  • #76,548
  • Mar 3, 2017 9:32am Mar 3, 2017 9:32am
Quoting emmanuel7788
{quote} Ok. PM you the download. Forbidden to post non-TMS stuff here. People get upset when I do it.
got it..thanks
the cautious seldom err....C
  • #76,549
  • Mar 3, 2017 10:02am Mar 3, 2017 10:02am
Is my TDI lagging? Divergence is shown on Stochastic but not on TDI.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_2.png Size: 105 KB
Take what the market gives you.
  • #76,550
  • Mar 3, 2017 10:08am Mar 3, 2017 10:08am
Quoting Tiggrrr
Is my TDI lagging? Divergence is shown on Stochastic but not on TDI. {image}
how many candles are there overlapping ?
  • #76,551
  • Mar 3, 2017 11:18am Mar 3, 2017 11:18am
Quoting emmanuel7788
{quote} Here is my trade summary: Note, this is not ME/ME trades. I use multi-lot strategy but instead of making 3 lot entries, I make one entry and using THV CaveManager to manage 3 exits .
Hi Emmanuel.
I still learn to build a position with ME/ME and now I use only multi-lot strategy.
How do you solve to enter a position? (ME/ME or multi-lot).

Do I understand correctly, that it is ONLY result of H1 enter during 48 Days ?
There is no reason to trade if there is no reason to trade.
  • #76,552
  • Mar 3, 2017 12:08pm Mar 3, 2017 12:08pm
Quoting luvene
......
I have a few systems for the daily, not only with the TDI indicator but it is my favorite one. .....
{image}
Would you mind to tell abit more about your other D1 sysems ( or a link...)?

Dank je wel

Forex37
  • #76,553
  • Mar 3, 2017 12:15pm Mar 3, 2017 12:15pm
Quoting Forex37
{quote} Would you mind to tell abit more about your other D1 sysems ( or a link...)? Dank je wel Forex37
yes, I will. Ik doe dat komend weekend. And for this thread... The story never ends, it is a one man show with repeating multiple times. As Tekkies said, keep it simple. The opposite is true... Unfortunately....
Keep it simple without too many crappy indicators!
  • #76,554
  • Mar 3, 2017 1:56pm Mar 3, 2017 1:56pm
Quoting emmanuel7788
{quote} with small account the smallest lot size broker allow is 0.01. what account size do you want me to work on? I can always run live trades with an account size you specify. Let me know.
Oanda will let you trade smaller than 0.01. 0.01 is 1000 units of a currency, and the smallest Oanda would go is 1 unit (so $1).

Regards,
EZcurrency
  • #76,555
  • Mar 3, 2017 6:41pm Mar 3, 2017 6:41pm
Quoting inforserve
Anyone who want overlay High TF candle to current TF. I found following link for candle overlay indicator. https://www.forexfactory.com/showthread.php?t=240302 {image}
Hi Inforserve, do you know why this indicator only shows 3 day bars to some of the higher time frame candles (weekly?) on your screen, mine also?
Thanks
  • #76,556
  • Mar 3, 2017 7:12pm Mar 3, 2017 7:12pm
Quoting marionetka
{quote} Hi Emmanuel. I still learn to build a position with ME/ME and now I use only multi-lot strategy. How do you solve to enter a position? (ME/ME or multi-lot). Do I understand correctly, that it is ONLY result of H1 enter during 48 Days ?

Hi,

Those were H1 trades done from March 1 to 3, only 3 trading days (not 48 days) in this new month of March. These trades were done in a workshop live trading followup practice sessions this week.
Like most traders, I do not like to be glued to my PC and I do not like to monitor charts.
I did not have to monitor my trades, I just let THV CaveManager do the management.

What is Multi-lot money management strategy?
A quick revision going back to this old post
Using Multiple-Lot Positions to Improve trading TMS: Post#33,507

When do use Multiple Entries and when to use Multi-lot entries? Good question.
As the trader we must decide on our own once we have fully understood the benefits of different strategies.
First you need to understand the different concepts, its pros and cons. You must have tested that in various market conditions.
From your own trading results, you can then move on and develop your trading business plan. Your trading plan must help you achieve your financial goals of your business. Remember, profitability must be measure in a long term - 3 to 5 years. It must not be just a few months or short 2 years. Profitability must be show consistency during the 3 to 5 years period. This is one reason why trading the markets (stocks, futures, forex, etc..) is so difficult for many people ad why statistics shows that 95% of traders lose their money is true.

Trading Intraday H1 and M15 , there is very little room for errors. You need to pick your entries with good timing with price action, because the initial stop loss is small. In those pairs traded, I use a 50pips initial stop loss and a Capital Protection of 20pips, set in THV CaveManager CM. To let profit run, I use the CM's feature Trail_by_Prev_Candle_High/Low. This usually allow the trade to run until it get stopped out when small candle consolidation.

When you trade H1, you cannot use ME/ME because of the 0.5ADR trade distance which ME/ME uses. Of course you can reduce this trade distance to very small say, 0.1ADR to make it work. But CM is not designed to manage ME trades.

To keep it simple, I use the Multi-lot strategy when I trade H1 Intraday and I only use ME/ME when I trade the 4H swing and D1 Position trading.
Different Money Management strategies to trade the same 5-Method that is simple enough for me. I don't know about other traders because I have not seen anyone post their trade results. I read some members come here occasionally and post a lot of talk only. Talk is cheap, making money is not. Being right and making money is not equivalent.

other readings:
Money Management
Big E on using multiple entries in the CHS thread
Post#2622 , Post#2629 , Post#2771 and Post#2912
Money Management Strategy for TMS: Post#48,008
...
Entry and Exits: Post#24,918 Post#18,422 Post#19,617
How to Build a Position: Post#19,588
Multiple Entries / Multiple Exits for Day chart trading: Post#58,726
Multi-Lots Buy/Sell scripts : Post#55,407

...more in the coming weeks/-
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #76,557
  • Mar 3, 2017 7:20pm Mar 3, 2017 7:20pm
Quoting Uk1
{quote} Hi Inforserve, do you know why this indicator only shows 3 day bars to some of the higher time frame candles (weekly?) on your screen, mine also? Thanks

poor coding ...is the reason.

tell me exactly what you want to see using those higher TF candles in background?

- do you want to see D1 candles in background on H4, H1 and lower?
- do you want to see W1 candles in background on D1, H4, H1 and lower?
- do you want to see background D1 and W1 candles being painted in realtime while the low TF candles get painted?
- do you want to be able to turn on/off the b/g candles without removing the indicators?
- would it be sufficient to see only the previous D1 and W1 OHLC on lower TF charts instead of background candles?
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #76,558
  • Mar 3, 2017 7:24pm Mar 3, 2017 7:24pm
Quoting ezcurrency
{quote} Oanda will let you trade smaller than 0.01. 0.01 is 1000 units of a currency, and the smallest Oanda would go is 1 unit (so $1). Regards, EZcurrency

Yes. Thanks for this information.
I need to sort out other issues with my broker, e.g. they moved my account to different servers in Jan 2017.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #76,559
  • Mar 3, 2017 7:31pm Mar 3, 2017 7:31pm
Quoting Tiggrrr
Is my TDI lagging? Divergence is shown on Stochastic but not on TDI. {image}

Of course the TDI (RSI) is lagging the price action. It is derived from the Close price of the market.
So is the Stochastics, they are both lagging the real price action.
But this is not the problem when we trade with the 5-Method so long as we see the market trends.

Both the TDI(RSI) and Stochastics can show divergence at different places, they will never be synchronized.

You just have to make that decision to pick the price action setups first and use the divergence as another condition to add weight to your trade setups.

Keep is simple: Use only the TDI Divergence and not the Stochastics Divergence.
Why? The TDI as some believe is the heart of the method.
So what is the Stochastics? the lungs or the liver? LOL.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #76,560
  • Mar 3, 2017 8:09pm Mar 3, 2017 8:09pm
One member posted this:

<quote>
The best you can do is finding a broker on which the Daily Candle is closing on 5.00 PM NEW YORK. This is the real closing time of the Forex Market.
<upquote>

Is this really true that New York market closing is the real closing time of the Forex Market?

For many European and London based traders, they use the London session open as their start of day , so what is the impact for those trading forex D1 chart?
There are trading strategies and/or 'systems' build around London Open as start of day.

If you trade the stock markets, you follow the Day open of the stock markets of the country you trade. Different stock markets have different open and closing times. How do these affect the forex market? Why is the London market session so important? You need to know which markets are based in London.
The forex market has no central exchange, so what is the closing time of the Forex Market? make a guess.

Trading the higher timeframes be that on the Daily or 4Hour or (8Hour charts which some platforms offer) is proven to be more profitable then many who trade very short term Intraday in the lower timeframes. I have no doubt about this.
Being a full time trader, I can trade all different time frames as and when I chose to. It is not that complicated as it seems but you need to spend a lot of your time to learn how to trade the different markets and different market conditions. You need to learn and master the art of trading the markets. It is never simple thing to achieve because it take tons of hours to practice in live markets achieve trading mastery.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
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