Trading Made Simple | Page 3302 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Monitor for 'Trading Made Simple' system 565 replies

Trading Made Simple the right way, and other trading lessons 334 replies

Indicators for the 'Trading Made Simple' system 343 replies

MTF Indicators for the 'Trading Made Simple' system 241 replies

Trading Made Simple system follower - Thanks to eelfranz 9 replies

Attachments: Trading Made Simple
Exit Attachments

Trading Made Simple

  • #66,021
  • Feb 21, 2016 12:50am Feb 21, 2016 12:50am
Hello Traders, could anyone suggest a good Forex Broker in the US.My friend just relocated to the US and looking for a Forex Broker in US to open a trading account with.

Thanks
Enter Signature
  • #66,022
  • Edited 3:27am Feb 21, 2016 2:11am | Edited 3:27am
Hi Emm,
please send some more informations:
Attached Image

This is valid Daily Entry.
I took a trade.

ME/ME setups:
Only in Daily chart.
We need ADR100

If price Will go in our direction, after 0.5 ADR we take another (second) trade position.
If price continue in our direction. After 0.5 ADR, we take another (3rd) trade position again.
We have now 3 positions. Different between positions is 0.5 ADR.
Attached Image (click to enlarge)
Click to Enlarge Name: ista 1.png Size: 18 KB

Question:
We take 2nd and 3rd positions without looking lower TF (H4)?
Or we must after first Daily setup change to H4 chart and wait and take 2nd position in second H4 candle, 3rd position in next H4 candle?



NEXT QUESTION:
price went in opposite direction after our First Daily Entry.
After 0.5 ADR in opposite direction, we take 2nd trade in main direction (short).
Price continue in daily oposite direction.
After 0.5 ADR in opposite direction, we take 3rd trade in main direction (short).
Attached Image (click to enlarge)
Click to Enlarge Name: nasprotna 1.png Size: 22 KB

Question:
We take 2nd and 3rd positions without looking lower TF (H4)?
Or we must after first Daily setup change to H4 chart and wait and take 2nd position in second H4 candle, 3rd position in next H4 candle?


Of course, I read your posts about ME/ME sistem.
Em I correctly understend your posts?

Excuse me about English language, it is not my mother's language.
Good wishes to you Emmanuel and of course other friends here, who halp me with answers. Best wishes from Slovenia, Dan
  • #66,023
  • Feb 21, 2016 2:57am Feb 21, 2016 2:57am
Quoting emmanuel7788
{quote} tell you what I benefit from this thread. I learn about the members here by looking at their charts and reading what they wrote... their personality, their trading style, habits, knowledge, experience,etc. somethings posted by members here are of value to my own development as a trader and to be a better trader. but then many things that I learn here I learn not to do nor to follow. from past experience, to unlearn somethings take a lot more time than to learn the same things. I keep an open mind when I am in this thread. thank you to all...
hey
Emmanuel:

For the past two months I have done my best to disregard most other posters, choosing instead to read only your inputs as they align with what I wish to accomplish. To learn how the markets move while using a frame of reference in space (trading screen) in which to interpret those movements. Training my eyes and doing my best to forget all the other crap I have learned before. This trading baggage seems to be one of my own personal obstacles because I started learning this stuff 6 years ago and only recently decided to get rid of most indicators because they were a way of taking the "burden of decision making" off my own shoulders. Reading your posts has taught me a better way: become an ACTIVE trader instead of a PASSIVE one. I used to think that a discretionary trading system was merely a way of saying "I can't teach this to you" and thus merely a scheme of some sort. Now I understand there should be more to that saying. " I can't teach this to you. YOU HAVE TO LEARN IT" Yes folks. We have to use that lump three feet above our arses and between our ears to learn this discretionary method. Since then everyday I eagerly await your replies to the other questions to get another glimpse into my future. Please do not listen to angry people. I have found that most questions I have get answered by waiting and watching rather than speaking. Please keep up the great insights.
"IN CASH WE TRUST"
  • #66,024
  • Feb 21, 2016 3:13am Feb 21, 2016 3:13am
Quoting LazyLobster
{quote} hey Emmanuel: For the past two months I have done my best to disregard most other posters, choosing instead to read only your inputs as they align with what I wish to accomplish. To learn how the markets move while using a frame of reference in space (trading screen) in which to interpret those movements. Training my eyes and doing my best to forget all the other crap I have learned before. This trading baggage seems to be one of my own personal obstacles because I started learning this stuff 6 years ago and only recently decided to get...

Hi LL,

Good to hear from you again. We have been in this for quite long time going back to 2011 in X-Man's TMS H1/H4 thread. Also in that LE1 M15 thread we had our experience too. We have seen the worst and the best of people here in FF. But this is a business where we do not give up no matter how tough the situations can be at times. It is our own individual responsibility to work hard and make this business work.

All the best,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #66,025
  • Feb 21, 2016 3:26am Feb 21, 2016 3:26am
Quoting Trader MT4
Hi Emm, please send some more informations: {image} This is valid Daily Entry. I took a trade. ME/ME setups: Only in Daily chart. We need ADR100 If price Will go in our direction, after 0.5 ADR we take another (second) trade position. If price continue in our direction. After 0.5 ADR, we take another (3rd) trade position again. We have now 3 positions. Different between positions is 0.5 ADR. Question: We take 2nd and 3rd positions without looking lower TF (H4)? Or we must after first Daily setup change to H4 chart and wait and take 2nd position...

Hi Dan,

I think you did not get the ME/ME concept right.

See these recent posts:
http://www.forexfactory.com/showthre...78#post8751578
http://www.forexfactory.com/showthre...99#post8761299

One of the rule is..."take what the market gave and give little back".
When the market move in our favour, take the profit and re-enter again so long as there is no invalidation of the trade setup.
We are using 0.5ADR distance to add-on trades with small lots size which we calculate using 0.2% risk and the ADR(100).
We add-on trades (the initial entry plus 4 add-on trades to a maximum 5 trades in total) when the market retraces and this is to help us get a better average entry price. When the trend is strong, the retracement may not be deep enough to add-on more trades, in suhc situations we simply take the profit and start a new position all over again.

We trade this on D1 chart, and there is nothing todo in the lower TF H4. I only posted the H4 chart to show where the actual add-on entries are or else on the D1 chart, you will see several entry in the same D1 candle.

The chart below is one open position I have from last week. We shall see what happen next week to this EURAUD pair.
Maybe I have to cut loss or may it will continue downwards.

Attached Image (click to enlarge)
Click to Enlarge Name: EURAUD Week 07 open trades into week 08.png Size: 37 KB


regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #66,026
  • Feb 21, 2016 3:33am Feb 21, 2016 3:33am
Great post!
I feel the same.. We decide what we read and who we listen too!

I wish my trading was as good as Emmanuel's but it's not yet...but he has made me a helluva better trader than I was!


Quoting LazyLobster
{quote} hey Emmanuel: For the past two months I have done my best to disregard most other posters, choosing instead to read only your inputs as they align with what I wish to accomplish. To learn how the markets move while using a frame of reference in space (trading screen) in which to interpret those movements. Training my eyes and doing my best to forget all the other crap I have learned before. This trading baggage seems to be one of my own personal obstacles because I started learning this stuff 6 years ago and only recently decided to get...
  • #66,027
  • Feb 21, 2016 3:52am Feb 21, 2016 3:52am
Quoting pinoismo
I started coding an ME/ME robot. I know very little about Meta Editor, but I had few programing classes in college. I will be grateful if I can get some assistance from experience programmers. If anything else, it will be a good journey to learn programing in Meta Editor.
Hi pinoismo,

I will keep my reply very short as this type of discussion will be be like by other members.
You work will be good and better when we discuss this in the Platform tech forum.
http://www.forexfactory.com/forumdisplay.php?f=69
There are quiet a few very good coders in FF and they are very generous to help and contribute from this vast experience.
During my school days, I did machine code programming. Then when I started out to work way back in the 80's I was programming in assembly language.
I started to mql4 programming few years back and it was tough. If you are looking into it now, you may want to include GUI as it is now the in thing to have these on charts.
http://www.mt4gui.com/download/

One quick way to learn is to look at some of the trade managers here in FF and learn from the structure of the programs and especially how the orders management are coded in EAs.

Good Luck and Have Fun.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #66,028
  • Feb 21, 2016 3:57am Feb 21, 2016 3:57am
Quoting ensale
{quote} Hi emmanuel If you don't mind me asking, this is for trades opened and closed this week.?
The summary is for all trades done since Jan 11 to Feb 19.
I keep my D1 trades over several weeks, so some were close last week and few are new ones open and closed.]
I have a few trades open which will be closed not week, maybe in profit or can be in losses.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #66,029
  • Feb 21, 2016 4:14am Feb 21, 2016 4:14am
Quoting emmanuel7788
{quote} Hi, you did better than me on this one. I think you missed the ME3 trade on your D1 chart posted. but when you take your trades in D1 better to show the entries and exits on D1 chart. our trade add-on entries are based on ADR 100 days so they are not TMS entries seen in lower timeframe chart. however, when we show our trade entries and exits on H4 it can confuse others when they look at the add-on entries were not H4 TMS setups. below is my trades for this pair shown both in D1 and H4. {image} regards,

Emm thanks.
In other words, When I take Daily trade, I stay in same Daily TF.
Than I take Limit order away 0.5 ADR100

Is it correct?
  • #66,030
  • Feb 21, 2016 4:19am Feb 21, 2016 4:19am
Quoting Trader MT4
{quote} Emm thanks. In other words, When I take Daily trade, I stay in same Daily TF. Than I take Limit order away 0.5 ADR100 Is it correct?
yes... that is an easy manageable way to use limit orders after your initial start trade.
this way, we don't need to be looking at M15 TDI cross and 4H delay before we place the next add-on trade.

but you must keep track of each trade levels and know where the average entry price is, this is your breakeven level.

I have an indicator for this. PM me for this.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #66,031
  • Feb 21, 2016 4:23am Feb 21, 2016 4:23am
Quoting emmanuel7788
{quote} Hi Dan, I think you did not get the ME/ME concept right. See these recent posts: http://www.forexfactory.com/showthre...78#post8751578 http://www.forexfactory.com/showthre...99#post8761299 One of the rule is..."take what the market gave and give little back". When the market move in our favour, take the profit and re-enter again so long as there is no invalidation of the trade setup. We are using 0.5ADR distance to add-on trades with small lots size which we calculate using 0.2% risk and the ADR(100)....

Emm,
EAUD is UPTrend, isnt it?
Attached Image (click to enlarge)
Click to Enlarge Name: euraud.png Size: 33 KB
  • #66,032
  • Feb 21, 2016 5:18am Feb 21, 2016 5:18am
Quoting Trader MT4
{quote} Emm, EAUD is UPTrend, isnt it? {image}
Look at 4H/1H....
Simplicity is the ultimate sophistication - Leonardo da Vinci
  • #66,033
  • Feb 21, 2016 6:45am Feb 21, 2016 6:45am
Thanks Heis
  • #66,034
  • Feb 21, 2016 7:08am Feb 21, 2016 7:08am
Quoting emmanuel7788
{quote} Hi, you did better than me on this one. I think you missed the ME3 trade on your D1 chart posted. but when you take your trades in D1 better to show the entries and exits on D1 chart. our trade add-on entries are based on ADR 100 days so they are not TMS entries seen in lower timeframe chart. however, when we show our trade entries and exits on H4 it can confuse others when they look at the add-on entries were not H4 TMS setups. below is my trades for this pair shown both in D1 and H4. {image} regards,
Hi Emm,
now I have clear head about Entries.
Why you closed both trades here?
Attached Image (click to enlarge)
Click to Enlarge Name: both close.png Size: 127 KB
  • #66,035
  • Feb 21, 2016 8:35am Feb 21, 2016 8:35am
Quoting Trader MT4
{quote} Hi Emm, now I have clear head about Entries. Why you closed both trades here? {image}
Position has reached its approximately average 100 pips. And possibly heading to S/R. Am I right Emm?
  • #66,036
  • Feb 21, 2016 9:26am Feb 21, 2016 9:26am
Quoting Trader MT4
{quote} Emm, EAUD is UPTrend, isnt it? {image}
Will see how this ones goes, here my plan on this pair for next week, this is H4 time frame
Attached Image (click to enlarge)
Click to Enlarge Name: EA_H4.jpg Size: 378 KB
I Have Learned to Take Some Losses to Make Profits
  • #66,037
  • Feb 21, 2016 9:36am Feb 21, 2016 9:36am
Quoting TheScorpS
{quote} Will see how this ones goes, here my plan on this pair for next week, this is H4 time frame {image}
I think market will go down for a short time. Then again it will go up.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_5.png Size: 29 KB
  • #66,038
  • Feb 21, 2016 9:45am Feb 21, 2016 9:45am
looking an indicator that show me how many pips to complete my loss.
example:
first trade of EURUSD 0.02 is open sell at 1.1130
after some time market will go up at 1.1150 (loss is 4.00$ so i need 20 pips to take level 0)
and i open 1 more lot of 0.02 at 1.1150 (loss is aprox 4.40 so i need 10 pips to take level 0)
show on chart
show total loss:
total running lots price (like 1st 0.02 and 2nd is 0.02 3rd is 0.01 so total is: 0.05)
total 1 pip loss and profit: (like total lots are 0.05 and if market will move in my favor then +0.50 and if against me then-0.50)
required pips for 0 level: (no profit no loss)
take profit: (if i set tp) (i need an option in tp like i want to set tp of all trades 1.1130 so this will apply on all open trades)

Thank you all seniors
  • #66,039
  • Feb 21, 2016 12:44pm Feb 21, 2016 12:44pm
Quoting emmanuel7788
{quote} Hi, you did better than me on this one. I think you missed the ME3 trade on your D1 chart posted. but when you take your trades in D1 better to show the entries and exits on D1 chart. our trade add-on entries are based on ADR 100 days so they are not TMS entries seen in lower timeframe chart. however, when we show our trade entries and exits on H4 it can confuse others when they look at the add-on entries were not H4 TMS setups. below is my trades for this pair shown both in D1 and H4. {image} regards,
Hello Emmanuel:

You got a pair of eagle eyes. Yes, I missed the ME3 trade on my D1 chart, didn't notice until you mentioned it. I guess I forgot to check before I posted. Also, thanks for your compliment, sorry for the late reply. I had a busy working days on last Thursday and Friday and took a rest during the weekend, maybe that would motivate me to learn and work hard on trading system, $ management and psychology, so one day I could no longer work for somebody else but only me and retire soon. Just done my weekly BBP. : )


Best regards,

steven
  • #66,040
  • Feb 21, 2016 5:51pm Feb 21, 2016 5:51pm
Quoting Trader MT4
{quote} Hi Emm, now I have clear head about Entries. Why you closed both trades here? {image}

read this post where I explained the TP marker.

http://www.forexfactory.com/showthre...83#post8763183


Quoting Ss45
{quote} Position has reached its approximately average 100 pips. And possibly heading to S/R. Am I right Emm?
yes, you are right about the TP 100 pips from the average entry price of two open trades.

I could have re-enter another trade when the earlier 2 trades closed. But I was busy and missed placing a sell stop order at that TP exit level.
There is also S&R below which can cause a bounce but I don't see that as major. I took a H4 buy trade when that bounce happen.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
48 traders viewing now