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Trading Made Simple the right way, and other trading lessons 329 replies

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Trading Made Simple

[quote=snarlyjack;8120637]{quote} Hsn, Nice meeting you. See post # 50,214 for template. Be sure to read the ebook! sj[/quo
Hi SJ!
I've read the ebook as per ur kind guidance. That was very helpful.
Winners Never Quit, Quitters Never Win
Quoting emmanuel7788
{quote} weekly in conflict with monthly. which is the trend?
You said conflict and i see both are overall Bullish what am i doing wrong EMU
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GBPJPY MN.png Size: 30 KB
Click to Enlarge Name: GBPJPY WK.png Size: 33 KB
Sad i'm not trying to understand PA
Quoting omonisha
{quote} You said conflict and i see both are overall Bullish what am i doing wrong EMU {image} {image}
Isn't the Monthly bullish (HH and HL) but weekly bearish (LH and LL)? How come you think the Weekly is bullish if you don't mind explaining please. Thank you in advance.
Quoting emmanuel7788
{quote} Hi Shadownet, OK. Sorry, I forgot that version was a test one with expiry test date. I will post a new H4 Hi-Lo version when I get back to my PC later. Kind of busy with guests from the big city dropping by yesterday for a nice surprise visit. Trade Well. regards,
Hello Emmanuel,

Did you manage to upload this indicator that isn't a trial version (! H4 Hi-Lo lines (White).ex4)? I really like it as it shows the previous H4 High and lows Candles in the H1 TF. I'd be grateful if you can share it with me please. Thank you in advance.

I'm sorry that I do not participate as much in this thread. I am scalping using a combination with TMS and LoveEvery1's EMA10 method with Price action (although that thread isn't really active, I am catching up with the previous posts). So I am not strictly using BigE's method and do not wish to disrespect people's wishes in KISS with his method. Although I do keep up on reading this thread as I definitely do refer to the the Higher TFs whilst trading the H1 and M15.

My UCAD scalp last week. I hope I don't offend anyone.
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Quoting Shadownet
{quote} Isn't the Monthly bullish (HH and HL) but weekly bearish (LH and LL)? How come you think the Weekly is bullish if you don't mind explaining please. Thank you in advance.
Oh that is because I see price broke previous low and made a new high. That is why i am thinking the bias is bullish.
Sad i'm not trying to understand PA
Quoting omonisha
{quote} Oh that is because I see price broke previous low and made a new high. That is why i am thinking the bias is bullish.
Hi Omonisha,

Appreciate your analysis on GJ as this is my second favourite pair. However, I may not have much time this week for trading due to my work so I took a sell trade on Weekly and will try to monitor whenever I could. My weekly outlook is little different than yours, I believe.

I was bearish on GJ last week on this post#54,637 and would like to continue from there.

GJ monthly
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Click to Enlarge Name: GJ Monthly 090315 Sell.png Size: 229 KB


GJ Weekly
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Click to Enlarge Name: GJ weekly 090315 sell trade.png Size: 259 KB


Attached Image (click to enlarge)
Click to Enlarge Name: Bearish Engulfing Sell Trade on GJ Weekly.png Size: 184 KB


GJ Daily
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Click to Enlarge Name: GJ daily fib level.png Size: 191 KB


Moreover, Please don't take these outlooks as trade suggestions or recommendations.

Kindest Regards
Quoting emmanuel7788
{quote} {image} Phx62, Did you use the THV CaveManager to manage all these trades? If, you did, did you use the same settings for all these trades? Please post some screen shots of your CaveManager settings used this week. I am trying to optimise CaveManager for a few traders here. Thank you. regards,
emmanuel,
Sorry for the delay in answering. We had a big birthday weekend for a family member and I just got back to the computer.
To answer your question, I have experimented with using the CaveManager to manage my trades but have had some issues along the line. I intend to do an in-depth study in the next few months to determine how I can better use this tool. Right now, the only parts of the CM that I use are to set the initial TP & SL when I open a trade and to move my SL to BE after a certain number of pips (based on the ADR of the pair). I then usually move the SL a few pips into profit when I can check the trade at the open of the next candle.
Thanks,
Phx62
Another popular pair of TMS thread EA

Are we patient enough for the right setup ?

EA H1 LO session outlook

Attached Image (click to enlarge)
Click to Enlarge Name: EA Expected move 090315.png Size: 265 KB


Your EA outlook will be much appreciated, please feel free to comment.

Kindest Regards
Quoting Vladbold
{quote} Thanks a lot for sharing this! A question, of course. Have you started using the PAC again ? Late edit : Found another question. Regarding the trade on Thursday. I took the EA long at FO, green crossing red, what seemed like a good TMS setup. I closed it when the following H1 candle turned red (LO) although my SL was below the asian low. You didn't take the FO trade because it is not according to your trading plan, or due to other reasons? Thank you !
I have never used the PAC in my trading before but because of the positive things some of the thread members have stated, I placed it on my charts to determine how it might fit into my trading plan. So far, I am finding most of my entries are more aggressive than the PAC entries might be but there are some questionable trades that I might not take, that might save me from a loss or a BE trade. I will continue to test it for a while.
RE the Thursday trade: I seldom take a trade during the Frankfurt session because many times price will reverse at LO. In this case, the LO candle had long wicks at both ends and the TDI did not cross back over the TS line or the MB line. When the RSI line bounced on the other two lines and the blue candle broke above the 2nd red candle and my trendline, I entered a long trade knowing that the London session had probably set the low of the session. You are correct, taking a trade at FO is not a part of my trading plan. I do occasionally trade a good setup during the Asian session that may continue into the London session but I very seldom enter during Frankfurt.
Good luck to you....
Phx62
Quoting MrAussieFX
{quote} Hi Omonisha, Appreciate your analysis on GJ as this is my second favourite pair. However, I may not have much time this week for trading due to my work so I took a sell trade on Weekly and will try to monitor whenever I could. My weekly outlook is little different than yours, I believe. I was bearish on GJ last week on this post#54,637 and would like to continue from there. GJ monthly {image} GJ Weekly {image} {image} GJ Daily {image} Moreover, Please don't take...
Thanks a lot Aussie. Yes i am looking at the flip area i marked to find opportunity to trade short.
Sad i'm not trying to understand PA
good to enter GA now?
or to early?
Quoting brekz1
good to enter GA now? or to early?
Yes. H1 setup is valid but risk is it is against the H4 and trading into the Day Open. Also reaction at 50EMA is seen.
I reduce my %risk and took this trade.


Attached Image (click to enlarge)
Click to Enlarge Name: GBPAUD week 11 9 Mar H1 trade.png Size: 36 KB


Edit: I update CM for Exit TP by Batch.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPAUD week 11 9 Mar H1 trade. update1.png Size: 45 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
Quoting Phx62
{quote} emmanuel, Sorry for the delay in answering. We had a big birthday weekend for a family member and I just got back to the computer. To answer your question, I have experimented with using the CaveManager to manage my trades but have had some issues along the line. I intend to do an in-depth study in the next few months to determine how I can better use this tool. Right now, the only parts of the CM that I use are to set the initial TP & SL when I open a trade and to move my SL to BE after a certain number of pips (based on the ADR of the...

Phx62,

Thanks. I think using ADR is good. I will work on this using CM.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
Quoting Shadownet
{quote} Hello Emmanuel, Did you manage to upload this indicator that isn't a trial version (! H4 Hi-Lo lines (White).ex4)? I really like it as it shows the previous H4 High and lows Candles in the H1 TF. I'd be grateful if you can share it with me please. Thank you in advance. I'm sorry that I do not participate as much in this thread. I am scalping using a combination with TMS and LoveEvery1's EMA10 method with Price action (although that thread isn't really active, I am catching up with the previous posts). So I am not strictly using BigE's method...
Shadownet,

Sorry about not posting the H4 Hi-Lo. I thought I posted that after our last post conversation but looking back, I must have posted it somewhere else.

Anyway, here is the latest version.

regards,

Attached File(s)
File Type: ex4 !# H4 OHLC Hi Lo only.ex4   10 KB | 830 downloads
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
Quoting emmanuel7788
{quote} Yes. H1 setup is valid but risk is it is against the H4 and trading into the Day Open.
good luck sir

but i dont take this trade
Quoting brekz1
{quote} good luck sir but i dont take this trade

Now is the fun hour as Tokyo closing hour and London just open.
We shall see if there will be sellers after Tokyo closed.
Trade management decision...decision...decision...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
Quoting Phx62
{quote} I have never used the PAC in my trading before but because of the positive things some of the thread members have stated, I placed it on my charts to determine how it might fit into my trading plan. So far, I am finding most of my entries are more aggressive than the PAC entries might be but there are some questionable trades that I might not take, that might save me from a loss or a BE trade. I will continue to test it for a while. RE the Thursday trade: I seldom take a trade during the Frankfurt session because many times price will reverse...
Thank you for the answers, as always !
GBPAUD H4 just closed with a BEEB Bearish Engulfing Bar ...the TDI angle is good but no cross seen yet.
so according to TMS H4 trading rules, we are in the APB#1 candle, anyone disagree with this?
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
Quoting emmanuel7788
{quote} Shadownet, Sorry about not posting the H4 Hi-Lo. I thought I posted that after our last post conversation but looking back, I must have posted it somewhere else. Anyway, here is the latest version. regards, {file}
Thank you Emannuel! It works perfectly. Thanks for your time.
GBPAUD Week 11 9 Mar H1 trade update:
CM took TP1 by Batch +30pips. This has reduce the overall risk.
Initial SL kept above the swing high.
The next move y CM would be to move SL to trail behind the previous price bar/candle high +5pips when market closes +30pips.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPAUD week 11 9 Mar H1 trade. update2.png Size: 48 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
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