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Trading Made Simple

  • #81,521
  • Aug 20, 2017 5:58pm Aug 20, 2017 5:58pm
Quoting emmanuel7788
{quote} Very good trades! Well done. With this breaking last MN high, we have two other MN highs to target next.... {image} its small Kim vs Trump rhetoric.

XAUUSD makes new 2017 high ...
breaking its double tops.
more new highs in the making for the coming weeks and months.
keep eyes on D1 chart price action and buy only when its close price is above its 10EMA.

Attached Image (click to enlarge)
Click to Enlarge Name: XAUUSD Week 34 target 1308.png Size: 49 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #81,522
  • Aug 20, 2017 6:08pm Aug 20, 2017 6:08pm
CAD seems to have gain some strength looking at Weekly and Daily charts price action, so its back to selling USDCAD on D1.
But the threat is Monthly has to face its 50EMA just below current price.

Watch out for AUDUSD and NZDUSD, these may follow so we look for opportunities to buy AU and NU.

Listen to London markets.

Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD multi charts.png Size: 47 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #81,523
  • Aug 20, 2017 6:16pm Aug 20, 2017 6:16pm
Strength, Weakness, Opportunities and Threats (SWOT analysis) of both AUDUSD and NZDUSD pairs.

Looking at the price action on all timeframes - MN, W1 and D1 and the 10EMA and 50EMA respectively, we see the threats as well and opportunities.

Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD Week34 multicharts.png Size: 40 KB


Attached Image (click to enlarge)
Click to Enlarge Name: NZDUSD Week 34 multicharts.png Size: 40 KB


there are both short termed opportunities and also the longer term opportunities.

You need to have patience to trade both short and long term 'trends'.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #81,524
  • Aug 20, 2017 6:25pm Aug 20, 2017 6:25pm
Quoting emmanuel7788
{quote} XAUUSD makes new 2017 high ... breaking its double tops. more new highs in the making for the coming weeks and months. keep eyes on D1 chart price action and buy only when its close price is above its 10EMA. {image}
Hi Emmanuel,

Last week my plan for XAUUSD was to trade long MEME. Looking at the chart over the weekend I realize that I could have made good pips in reality I lost. I had 3 open positions by Tuesday and I was reading some forex related news that said the tensions between Nkorea and US is more relieved and if US retails sales data comes up stronger it could push XAUUSD even lower. When I saw stronger US retail sales data I decided to close my positions.

I didn't stick to my plan so paid the price.

Okoso
Attached Image (click to enlarge)
Click to Enlarge Name: XAUUSDH420.08.17.png Size: 48 KB
  • #81,525
  • Aug 20, 2017 6:29pm Aug 20, 2017 6:29pm
Quoting emmanuel7788
{quote} well, it can be worst for rookie traders when they formed a bias based on their beliefs and held on to all their trades and not wanting to cut losses when they market went against for weeks and months , these rookies want to see market reverse back in their favour and they may even top up their accounts to avoid margin call. At the end of it all, the beauty of their trade bias turns very ugly when they have to lose their hard-earned monies from their day jobs.
LOL I know.

Thanks to Mingary, here's an approximation of the way they trade there:
Attached Image (click to enlarge)
Click to Enlarge Name: GoodTrader.png Size: 88 KB
  • #81,526
  • Aug 20, 2017 8:21pm Aug 20, 2017 8:21pm
Hi Emmanuel and everyone
I try to make a trading plan as your guide. And here is what i see in EU.
In W1 TDI green cross red above 68 line
in D1 TDI trending down--> its going to bound down
so, i waiting to short in H4

Am i right???
Please advise
Koala
Attached Image
  • #81,527
  • Aug 20, 2017 9:51pm Aug 20, 2017 9:51pm
Quoting ReverseFlash
{quote} LOL I know. Thanks to Mingary, here's an approximation of the way they trade there: {image}
It is dangerous for those who do not use stoploses. Aniway, is a collective image of a typical trader with all his mental enemies sitting in him.
  • #81,528
  • Aug 21, 2017 1:44am Aug 21, 2017 1:44am
Quoting emmanuel7788
{quote} CUG = Closed User Group. see this very old post when the idea started, https://www.forexfactory.com/showthr...69#post7956269 there is no free lunch, everyone who wants to join a trading group must bring something to the table. its team work. {image}
ok thank you for answering.
  • #81,529
  • Aug 21, 2017 4:43am Aug 21, 2017 4:43am
Quoting okoso
{quote} Hi Emmanuel, Last week my plan for XAUUSD was to trade long MEME. Looking at the chart over the weekend I realize that I could have made good pips in reality I lost. I had 3 open positions by Tuesday and I was reading some forex related news that said the tensions between Nkorea and US is more relieved and if US retails sales data comes up stronger it could push XAUUSD even lower. When I saw stronger US retail sales data I decided to close my positions. I didn't stick to my plan so paid the price. Okoso {image}
Hi,

since you are trading manually, your distance between ME trades should be calculated based on 0.5ADR 100 days. You can use limit orders to place your ME trades number 2 to 5 after ME1 has been opened.
If you had used 0.5ADR, then you simply follow the rules and let the market trigger your limit orders. Your stop loss should be the low of the previous 2 weeks.
And when you do not have all 5 ME trade open, the dynamic cut loss will not take effect.
With these rules, you do not have to think too much when you have trades running and you simple manage according to the written rules and follow your trade plan. You focus on your trading tasks and your emotions will not influence you and you are better under control.

Another comment is you must trust your top down analysis and also trust your higher timeframe price action. using risk percent and Position Sizing you dont need to worry about losing trades and also you have profits from previous weeks, you look at the results at the end of the trading cycle and try not to look at the results of individual trades/baskets.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #81,530
  • Aug 21, 2017 4:47am Aug 21, 2017 4:47am
Quoting gold-dollars
Hi Emmanuel and everyone I try to make a trading plan as your guide. And here is what i see in EU. In W1 TDI green cross red above 68 line in D1 TDI trending down--> its going to bound down so, i waiting to short in H4 Am i right??? Please advise Koala {image}

When I trade, I do not look at the TDI on Weekly and Monthly charts. I look at the Weekly and Monthly for the price action and the support/resistance.

Look at D1, the candle have been small and trading withing the High-Low of the PAC. If I were to pick the breakout, I'll pick a higher probability upside breakout following Weekly.

H4 does not show empty space below which is indicative of recent buying support and it is near a BRN 1.1700
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #81,531
  • Aug 21, 2017 5:46am Aug 21, 2017 5:46am
Hi All,

Great method and thread, just wanted to know is someone still using the Original Big E's method with same rules... i wanted to start with it but if i could get some guidance would be great. As mentioned the original method was trading 4H in London Session, does it still stays valid? Are there any new rules we must keep in mind .

Any help will be appreciated.
Thanks
  • #81,532
  • Aug 21, 2017 7:43am Aug 21, 2017 7:43am
Short CADJPY on H1, there is a risk we may rebound on Daily EMA 50 (EMA 10 Weekly), but if we overcome that, 85.00 is my target
  • #81,533
  • Aug 21, 2017 8:15am Aug 21, 2017 8:15am
EURUSD Long was such a superior trade, I feel like kicking myself...
  • #81,534
  • Aug 21, 2017 9:00am Aug 21, 2017 9:00am
Quoting emmanuel7788
{quote}...your distance between ME trades should be calculated based on 0.5ADR 100 days. You can use limit orders to place your ME trades number 2 to 5 after ME1 has been opened. If you had used 0.5ADR, then you simply follow the rules and let the market trigger your limit orders....
Hi,
I was wondering, if I have opened a trade when the TDI crosses and all other indicators are in place, when I (say a couple of days later) see a continuation signal (TDI nearly crosses and then widens again) I could open a second order. Would this also be an example of Multiple Entry as meant by ME/ME?
Cheers.
  • #81,535
  • Aug 21, 2017 9:13am Aug 21, 2017 9:13am
Did anybody take the EURGBP long on h4?
  • #81,536
  • Aug 21, 2017 9:56am Aug 21, 2017 9:56am
Quoting jansb000
{quote} Hi, I was wondering, if I have opened a trade when the TDI crosses and all other indicators are in place, when I (say a couple of days later) see a continuation signal (TDI nearly crosses and then widens again) I could open a second order. Would this also be an example of Multiple Entry as meant by ME/ME? Cheers.
MEME entry is when you enter on price retracements after your first entry
  • #81,537
  • Aug 21, 2017 10:33am Aug 21, 2017 10:33am
I wish I could thank eelFranz in person. The work he put into create this methodology and the kindness he had in sharing it are two things I will never be able to repay him for.

For the first time in my trading career (stocks & FX) I can say that I am confident in my set ups, entries (and to a lesser extend) the exits. None of this would be possible had Big E not created this thread. In my opinion, this thread is the modern day equivalent of a treasure map, pile of gold at the end of a rainbow, whatever you want to call it.

I am still doing trades via my demo account, with varying degrees of success, and I am eager to try this out with a real account one day soon.
  • #81,538
  • Aug 21, 2017 10:40am Aug 21, 2017 10:40am
Quoting zonalmarking
{quote} MEME entry is when you enter on price retracements after your first entry

Hi Zonalm.
You limit the ME to open new positions during retraces..
Thatīs not complete.
ME means nothing else than Multi Entries
MEME= Multi Entries Multi Exits.

So.. it can also mean adding positions during a trade goes forward.. and you "scale " your positions.
Buy some during the period and close some positions in front of a "BRN" or any other S/D you see in your chart.

Many ways and needs a lot of training to get confidence with it.


...it just limits not only to buy in a retrace..

Stay tuned
Guido
Risiko birgt immer auch die Chance.
  • #81,539
  • Aug 21, 2017 2:44pm Aug 21, 2017 2:44pm
Quoting zonalmarking
Did anybody take the EURGBP long on h4?

Do not stop buying EG until we see a 2 bars W1 bearish reversal pattern.
There is room for more upside.
Buy the dips.

Attached Image (click to enlarge)
Click to Enlarge Name: EURGBP Week 34 MN big picture.png Size: 34 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #81,540
  • Aug 21, 2017 2:51pm Aug 21, 2017 2:51pm
Quoting jansb000
{quote} Hi, I was wondering, if I have opened a trade when the TDI crosses and all other indicators are in place, when I (say a couple of days later) see a continuation signal (TDI nearly crosses and then widens again) I could open a second order. Would this also be an example of Multiple Entry as meant by ME/ME? Cheers.

yes, you can scale-in more positions as the market moves in your favour but you should do this only when your other older positions have locked-in profits protected.
You scale-in with the profits already banked-in, i.e. to re-invest with profits from the market. Trade like investors.
This is one way to "let profits run".
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
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