Spoof's Trading Made Simple(r) Journal

Was your take profit reached, trailing stop hit or did it close out manually?

Hello Spoof and everyone
I just discovered this discussion, thank you for sharing.
I am in Europe (French), and I would like to know if you did tests on the indices (CAC40, DAX ....).
Among the many Members, are there people who trade with FXCM's TS2 platform.
How do you do for some indicator like "sms TMMS oscillator" that does not exist.
Thanks in advance and sorry for the faults

Best regards

Hey rch05,
This methodology will work on any instrument. Click the link to the original Trading Made Simple(r) thread on Post #1 for more information as well as the original indicators instead of the smTMMS oscillator. This journal is my take on the original methodologies and is different than the way others are trading.

I am not sure I follow what you are asking about Fibonacci parameters to evaluate entries and stops. I don't use Fibonacci for entries and stops. I do use the tool to locate my R values to aid in trailing my stop loss and taking profit.

exactly I am talking about the same tool,is that possible to share it?

The tool is a standard feature of the MT4 platform. Here is a video explaining how I use it:

you clarified it , thank you

Hey guys...here is a video discussing my general thoughts on trading systems and how we need to pick one and focus on trading it well.

END of TRADING WEEK

Well...that concludes this week. What a sloppy sideways mess it was for the pairs I trade. I came away this week with +0.88R in profit with floating profits of around +2R as of this post on GBPUSD and GBPAUD with stops trailed to less than 50% of initial risk and break even plus a tad respectively. I'll leave those trades running over the weekend and hopefully the GBP behaves and continues on in my favour next week. That 3R trade I took on EURUSD really saved my butt this week Hopefully next week has some better movement but perhaps this is why many traders take August off

Stats for the week:
- 9 trades closed - 4 positive & 5 negative
- win rate 44%
- best trade +3R
- worst trade -0.72R

The markets I trade didn't really give any profitable moves to be taken this week, but because I was able to shed my risk on trades during these choppy times I was still able to come ahead and by not taking a single full 1R loss my one win of the week was enough to keep me in the black. This just speaks to the importance of solid money management and defensive trading. Those 5 losses I had this week totaled about 2.7R...not bad for 5 losses. We are going to give money back, but let's make it as small as possible. Imagine what happens when a nice profitable week comes along?

Spot on Boss, great video, nailed it totally

Makes sense to me

Just need to spot the chop sharpish and avoid it. Holy grail again

If you find a way to spot chop before you know you are in it let me know! I am all ears

Look at the sideways mess GBPUSD was this week (almost two!). Absolutely gross The oscillator sure helped to stay out of most of that sideways stuff. Hopefully the breakdown continues and gives me some $$ next week. Big moves often happen after these ranging periods.

Hi. the Spoof, thanks for the latest video. I find them all very informative. I stopped out of my trades manually because the weekend was coming and I wanted to take some profit after the choppiness that had occurred with the GPB?JPY pair after I had bought. In hindsight, I should have held but the choppiness was doing my head in. Still learning and I'm beginning to see that it's all about probability and money management. With GBP/AUD, originally I was going to hold for 3R but decided to close at about 2R.

Hi guys, may i ask what trade decision made you all enter this GA trade? it was tempting at first sight when the oscillator shown red, but i was kind of uneasy when it is the 6th candle.. i hope i can get onboard such trade in the future. Thx.

Hi Mortal, my apologies I put the wrong entry on my last chart. I didn't enter until the third red bar on the smooth oscillator.

Sorry, wrong chart. I meant this one

HI jado911,

Long ago I am looking for EA like this. Please can you tel me where to find it or send here?


Regards
Vesko

Hey moRTaL,
Oh boy...do we really want to open this can of worms? I took this trade based on a different entry method and the fact that the smTMMS oscillator happened to jive was a bonus bit of confluence. Guys...don't forget that I was finding success with price action based methodologies that I am now starting to marry with with this system. I do not wish to confuse traders by adding more information when people can't consistently follow one method for several months and display that they have profitably mastered the concept and more importantly mastered themselves. Yes, technically this trade was risky under the current rules of this system because several candles had passed before the signal candle appeared and I don't know why traders took this particular trade but I know precisely why I took it. Super bonus points to anyone that figures it out

This trade, at the moment is working out, but really guys, stick to the method of the using the first or second candle to enter...maybe the third. This is just simply based on the observation that the HA candles are typically only the same colour for a limited number before things start to change and we want to get in as early as we can. Remember...typically we see late entries failing, but sometimes a late entry does work out. I want to share my trading with this particular method, but don't forget that there is more than one way to skin a cat and I have the trading experience to trade additional entry methods. The methods I used to trade have some congruencies with these methods and I am seeing some additional opportunities to trade. I post these "extra" trades because an astute trader may eventually catch on via my Trade Explorer that not all my trades are as per these particular rules. I am trying to be as transparent as possible here. At a later date I may share my other price action based entries, but for now I just want people focusing on trading these methodologies consistently. These rules are sound and profitable and are all that is required to make money in the markets and they undoubtedly make up the core of my current trading.