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Monitor for 'Trading Made Simple' system 565 replies

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

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Trading Made Simple

  • #80,821
  • Jul 14, 2017 9:51pm Jul 14, 2017 9:51pm
Quoting irishcraig09
{quote} Hi Emmanuel Thanks for the help and response. Could you please point me In the direction on the one you are using?? Also are you running the TMS monitor EA on your charts as well or not ??? Thanks Craig

I do not run the TMS Monitor in my live trading charts. That EA is quite CPU intensive and I do not like it when I am running my trade managers EAs.

What I do is to install another MT4 in my PC and run some of these tools like this TMS Monitor. Use this separate MT4 and log into your live trading account using the Investor password or use different account (e.g. a demo). This way it will not interfere with your live trades, you can do analysis and study at anytime while your live trading can run in separate MT4 installation.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #80,822
  • Jul 14, 2017 10:01pm Jul 14, 2017 10:01pm
Quoting emmanuel7788
This is my trade results for the July' first week trading, clsoing Friday Jul 07. Only 69% win rate. No need to look for 80% or 100% win rate. Just learn and accept to take some small losses and ride the winners. When you work hard and can achieve a consistent win rate of 50%, you can make money from the market. {image}
Week 28 Jul 10 to 14 trades closed.

Closed some trades before the US retail data news released. Worked hard to maintain my win rate to above 60%. Did manage to hit 68% slightly lower than last week' 69%. No need to beat myself on this.

Attached Image (click to enlarge)
Click to Enlarge Name: TMS MEME trades closed Jul 14.png Size: 36 KB


For those who are struggling with win rate, do not be too ambitious and aim for 80%. All you should do is aim for 50% to 55% and work hard at maintaining consistency to maintain the 50%~55% win rate for 3 to 5 years. When you can reach and maintain consistency over 3 to 5 years, you can grow your trading capital exponentially.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #80,823
  • Jul 14, 2017 10:08pm Jul 14, 2017 10:08pm
Quoting investwisely
{quote} g'day mate. would it be possible to guide to the alert u mentioned in the post i.e. dbhlc alert? thank you.

if you are asking for that indicator, you will find it just few posts above yours.

read, pay attention to details and you will always find.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #80,824
  • Jul 14, 2017 10:12pm Jul 14, 2017 10:12pm
Hi Emmanuel7788,
just wanted to know how you manage the time differences being in Aus Im finding it particularly difficult to restrict myself to the London and NY sessions being that they are so late in day for us. I keep falling into the pattern of checking first thing in the morning after the close of the NY session then being drawn back during the day ( which i know i shouldnt being doing) and its during the day that I'm making mistakes. Unfortunately having a family, the start of the london session is right on dinnerand following the NY session will keep me up all night. Can this system work if its restricted to the london NY crossover.
  • #80,825
  • Jul 14, 2017 10:13pm Jul 14, 2017 10:13pm
Quoting anwaarkhan
{quote} would you mind to share this indicator/template please?

obviously not reading this thread on regular basis.

this same question was asked this week and replied.

https://www.forexfactory.com/showthr...4#post10084294
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #80,826
  • Jul 14, 2017 11:15pm Jul 14, 2017 11:15pm
hi emm, sorry ask you in weekend, im still confusing about ME/ME my question is
1) if i have trade entry based h4 how you calculated space betwen ME1,ME2,etc ?

2) do you use lot increment for ME/ME since more we take ME our sl more closer ?

3) where is tp for D trade ?is that 0.5 adr 100 same like distance betwen ME and if hit TP we reenter if trade still valid ?
  • #80,827
  • Jul 15, 2017 12:20am Jul 15, 2017 12:20am
Quoting emmanuel7788
{quote} obviously not reading this thread on regular basis. this same question was asked this week and replied. https://www.forexfactory.com/showthr...4#post10084294
thanks m8. appreciate ur kind advice in teaching to the fish
  • #80,828
  • Jul 15, 2017 1:50am Jul 15, 2017 1:50am
Quoting kmic14
{quote} Hi. Im currently trading in that 2 tipes. I.m traing get use to with the new candles and the new settings with the black background,or with the setting on white backgroud from the EURGBP. And in the same time i try to stick with the rools from the TF H4. But all i want to do is the multi TF chart. For the moment. Thanks. {image} {image} {image} {image}
No wonder you are confused. Not one of those charts are TMS. But hey, if you want to trade like that good for you.
  • #80,829
  • Jul 15, 2017 6:27am Jul 15, 2017 6:27am
Quoting emmanuel7788
{quote} Week 28 Jul 10 to 14 trades closed. Closed some trades before the US retail data news released. Worked hard to maintain my win rate to above 60%. Did manage to hit 68% slightly lower than last week' 69%. No need to beat myself on this. {image} For those who are struggling with win rate, do not be too ambitious and aim for 80%. All you should do is aim for 50% to 55% and work hard at maintaining consistency to maintain the 50%~55% win rate for 3 to 5 years. When you can reach and maintain consistency over 3 to 5 years, you can grow your trading...
Hi
Could you please tell how many pairs in your 184 trades?
Thanks
  • #80,830
  • Jul 15, 2017 7:57am Jul 15, 2017 7:57am
Can someone or emmauel help me sort out this squeezed lines on my BN Levels indicator on daily chart of EA.
Attached Image (click to enlarge)
Click to Enlarge Name: EURAUDDaily.png Size: 28 KB
  • #80,831
  • Jul 15, 2017 8:34am Jul 15, 2017 8:34am
Quoting macajos
Can someone or emmauel help me sort out this squeezed lines on my BN Levels indicator on daily chart of EA. {image}
it looks squeezed because this pair has a big range and there are alot of round numbers there.
try different timeframes and different pairs for a better look
  • #80,832
  • Jul 15, 2017 9:00am Jul 15, 2017 9:00am
Quoting bistolis
{quote} it looks squeezed because this pair has a big range and there are alot of round numbers there. try different timeframes and different pairs for a better look
Thanks Bistolis now I understand.
  • #80,833
  • Jul 16, 2017 1:33am Jul 16, 2017 1:33am
Quoting macajos
{quote} Thanks Bistolis now I understand.
Hi Macajos

Open up the inputs and click False Line 2 Enable / Line 3 Enable / Line 4 Enable at it should look like below. Set it to Day use only.

Then put a second BN Levels on your chart and set for H4 and below.

Cheers Rick
Attached Image (click to enlarge)
Click to Enlarge Name: ea.png Size: 165 KB
Trading thin liquidity at the boundary of the charts
  • #80,834
  • Jul 16, 2017 6:27am Jul 16, 2017 6:27am
Quoting mortezakh
{quote} Hi Could you please tell how many pairs in your 184 trades? Thanks

the past 10 trading days, I traded 9 different pairs in that master account.
Usually, better to trade 3 to 5 pairs maximum in one account.

I would not recommend anyone with little experience to trade so many pairs at the same time without proper planning and having a trade plan.
Managing many open trades in live market can cause stress if you are not focus in your trading tasks and following your trade plan.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #80,835
  • Jul 16, 2017 6:39am Jul 16, 2017 6:39am
Quoting Mentalist96
hi emm, sorry ask you in weekend, im still confusing about ME/ME my question is 1) if i have trade entry based h4 how you calculated space betwen ME1,ME2,etc ? 2) do you use lot increment for ME/ME since more we take ME our sl more closer ? 3) where is tp for D trade ?is that 0.5 adr 100 same like distance betwen ME and if hit TP we reenter if trade still valid ?

Hi,

1) for H4 swing trading, you need to know the 52-weeks ATR and also the retracement where you will build positions with multiple entries. You can still use the ATR-100 days but with reduce %ATR-100 days for e.g. 0.25ADR 100.

2) Yes, I do use lot increment. But your trading account deposit must be sufficient to cover the margin requirements and you trading capital has to be large enough for that 1% to 2% requirements in your account deposit. You need to do your calculation in your trade plan.

3) Final target TP is based on BPP and trade plan. Never set TP based on ADR. You can always do multiple exits when market run in your favour taking small profits and re-entry.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #80,836
  • Jul 16, 2017 6:53am Jul 16, 2017 6:53am
Quoting sarsippius
Hi Emmanuel7788, just wanted to know how you manage the time differences being in Aus Im finding it particularly difficult to restrict myself to the London and NY sessions being that they are so late in day for us. I keep falling into the pattern of checking first thing in the morning after the close of the NY session then being drawn back during the day ( which i know i shouldnt being doing) and its during the day that I'm making mistakes. Unfortunately having a family, the start of the london session is right on dinnerand following the NY session...
If you want to do this business, you must first decide on you business hours i.e. your trading hours. With a day job and family time, it will be difficult but not impossible. I traded the stock market form many years since mid-1980s, I trade only EOD i.e. based on D1 chart. I only take 20 to 30 minutes each night to scan for trade opportunities and place my orders before the stock market open the next morning.

Now I am retired so I have more time to trade during the day. I don't trade the NY session because by the time NY open, it near my bedtime and I prefer to wind down the day and sleep by 11pm my local time. I cannot trade the London-NY overlap hours, worst time to trade because of the news and data release during the US markets hours.
In my morning hours, I will trade the Sydney -Tokyo sessions for 3 to 5 hours only H1 and M15 charts.

Based on your schedule, I think it would be best to trade only the D1 chart. But on days when you have holiday in your country and the market is open, you can also trade the Tokyo morning session and the London open session right up to NY open. You don't have to lose sleep because you want to trade forex.
Plan your trading around your lifestyle with priority for family especially the younger ones. Enjoy time with them when they are still young because you don't get a second chance once they grow up.

Have fun trading.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #80,837
  • Jul 16, 2017 8:01am Jul 16, 2017 8:01am
Quoting emmanuel7788
{quote} obviously not reading this thread on regular basis. this same question was asked this week and replied. https://www.forexfactory.com/showthr...4#post10084294
Yes. Sorry to bother you.I don't go through this thread regularly and I just read your post often.
Thanks for your help.Stay blessed.
  • #80,838
  • Jul 16, 2017 8:15am Jul 16, 2017 8:15am
Hey guys,

I've been reading some info on the big picture plan and have been doing my best to put it in application. What I see so far is that by putting the line graph on my chart and drawing a s/r at the top and bottom of every spike, I have a lot of line...

How do you illimanate some of those line... how to determine what are the most important and so on.

ty for your help

Here is my bpp for MN, then W1, the red line are MN and the orange are W1
Is it ok? I would love to have your input ty
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 151 KB
Click to Enlarge Name: Screenshot2.png Size: 180 KB
  • #80,839
  • Jul 16, 2017 10:50am Jul 16, 2017 10:50am
Quoting RickM
{quote} Hi Macajos Open up the inputs and click False Line 2 Enable / Line 3 Enable / Line 4 Enable at it should look like below. Set it to Day use only. Then put a second BN Levels on your chart and set for H4 and below. Cheers Rick {image}
Thanks RickM, that worked out.
  • #80,840
  • Jul 16, 2017 11:02am Jul 16, 2017 11:02am
Quoting macajos
{quote} Thanks RickM, that worked out.

what indi is this?
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