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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 system follower - Thanks to eelfranz 9 replies

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Trading Made Simple

  • #81,621
  • Aug 25, 2017 9:09pm Aug 25, 2017 9:09pm
Quoting blackfriday
{quote} Hi Emmanuel, stunning results as ever! Thx for sharing and motivation us! One question about trade invalidation: usually, you have been teaching us trade invalidation as TDI cross and PA below/above EMA 5+3 or PAC. Lately (if I remember correctly) you have suggested "change of color of HA/APB". Looking at your EN MEME trades, you seem to ignore both rules. Since I still struggle with ti, and I'm still not happy with all possibilites I have tried so far (incl. W1 ABP color change, D1 color change and then switch to lookback and a lot more)...

I think you missed some important posts I made in recent months.

Trade Invalidation still is important for those who trade only looking at one chart timeframe and trade with single entry.

But for those trading the D1 chart must do our top down analysis and form our Big Picture Plan to be able to see the market type and know what we are trading. There are PLAN, BUILD and RUN phases. In the case of EURNZD, there is opportunity to trade in the RUN phase(trading into empty space we see on our charts) and when we trade with multiple entries, we build up our positions in the market over a longer period, hence we do not just look at D1 for trade invalidation on D1 and not look at the bigger view on the Weekly and Monthly. The pull back on Weekly can be huge and the D1 will show change in the APB/HA colour many times during those weekly price pull back.

Note, I mention this many times, I do not use the TDI on the Weekly and Monthly charts, I look at the price action and historical price swing levels. Also I do not look at the APB /HA candles on the Weekly and Monthly. These APB/HA candles don't make any sense when I take Position trades. Remember, Position trading can last several weeks.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #81,622
  • Aug 25, 2017 9:25pm Aug 25, 2017 9:25pm
Nice work (words) by Yellen and Draghi yesterday.

EURUSD where will it head to?

technically, there is region it had not tested and it won't be one single line move.
there will be many events which will move this either way starting next week.
so be prepared for those corrective moves and make money.

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD MN Big Picture.png Size: 41 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #81,623
  • Aug 25, 2017 10:19pm Aug 25, 2017 10:19pm
Quoting emmanuel7788
Nice work (words) by Yellen and Draghi yesterday. EURUSD where will it head to? technically, there is region it had not tested and it won't be one single line move. there will be many events which will move this either way starting next week. so be prepared for those corrective moves and make money. {image}
Thank you so much for continuous help to us, trading newbies. Waiting for your outlook for next week's trading. I am also learning programming too. Hope I can program your ME system to an EA, at least to do some of the work. It's very hard to code to judge the big trading outlook. It might need a systematic machine learning program.
  • #81,624
  • Aug 26, 2017 6:32am Aug 26, 2017 6:32am
Quoting eelfranz
So many new traders... Do not think you can trade with us without reading the thread and taking notes. READ & STUDY. .. Big E

just a reminder by the OP, his last post here before he went offline. He passed away in 2012.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #81,625
  • Aug 26, 2017 8:36am Aug 26, 2017 8:36am
Hi, I have problems with this indicator. I get: "zero divide in 'TradeReport(1).mq4' (427,28)", and I can't use it.

Could someone help me with this??? Thank you.....
Attached File(s)
File Type: mq4 TradeReport(1).mq4   50 KB | 445 downloads
  • #81,626
  • Aug 26, 2017 8:48am Aug 26, 2017 8:48am
Quoting emmanuel7788
{quote} just a reminder by the OP, his last post here before he went offline. He passed away in 2012.
yes. i put all my offwork time on reading this thread and practice. thank you. big e and emm.
  • #81,627
  • Aug 26, 2017 9:02am Aug 26, 2017 9:02am
Quoting emmanuel7788
{quote} just a reminder by the OP, his last post here before he went offline. He passed away in 2012.
Thank you, yeah it is very useful thread
  • #81,628
  • Aug 27, 2017 5:00am Aug 27, 2017 5:00am
Quoting emmanuel7788
{quote} When we trade several pairs in the same account, must always manage the account balance, equity, margin used and the margin level. I did mention before that we should not trade more than 5 pairs at the same time, this also means we should keep maximum 5 pairs in one trading account. Treat your trading account like one basket of trades with several different pairs traded at the same time. This way we also manage the account not just trades. You should have several accounts with same broker and preferably with a broker who allows your accounts...
Hello and good Sunday morning.

In your opinion, what brokers fit in this category? Could you name a couple?

Thanks.

RSP
  • #81,629
  • Aug 27, 2017 9:50am Aug 27, 2017 9:50am
NZDCAD trades taken on D1/W1 momentum, and seen on LTF
Attached Image (click to enlarge)
Click to Enlarge Name: ICMarkets-Live05 - NZDCAD,Weekly.jpg Size: 519 KB
  • #81,630
  • Aug 27, 2017 5:35pm Aug 27, 2017 5:35pm
Quoting emmanuel7788
{quote} remember this: a safety valve to release the pressure when opening too many "Monty Hall doors" ... https://www.forexfactory.com/showthr...82#post9893382
Is this what you mean with valve emmanuel? from this post

Attached Image (click to enlarge)
Click to Enlarge Name: GBPAUD Week 34 closing Aug 25.png Size: 66 KB


This basket in the square sounds like closed in BE or near and sounds to be the largest, simillar pattern on EURUSD trades
the valve would be something like closing the actual basket in BE and open another new one if something like: amount of %, or number of orders, or lots/etc thresold get passed ?
  • #81,631
  • Aug 27, 2017 9:04pm Aug 27, 2017 9:04pm
Quoting jjventural
Hi, I have problems with this indicator. I get: "zero divide in 'TradeReport(1).mq4' (427,28)", and I can't use it. Could someone help me with this??? Thank you..... {file}

use this compiled version .ex4
if the same error appears in your journal, let me know.
Attached File(s)
File Type: ex4 TradeReport(1).ex4   83 KB | 553 downloads
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #81,632
  • Aug 28, 2017 1:13am Aug 28, 2017 1:13am
Quoting emmanuel7788
{quote} use this compiled version .ex4 if the same error appears in your journal, let me know. {file}
Many thanks emmanuel7788, but I am still having the same problem, zero divide error....
  • #81,633
  • Aug 28, 2017 4:47am Aug 28, 2017 4:47am
Dear emmanuel7788, why is buying here?
thanks
Attached Image (click to enlarge)
Click to Enlarge Name: Trade Report week 34 Aug 24 TOK1.png Size: 69 KB
  • #81,634
  • Aug 28, 2017 6:25am Aug 28, 2017 6:25am
Quoting AskAngel
Dear emmanuel7788, why is buying here? thanks {image}

these posts should provide you the answer.

https://www.forexfactory.com/showthr...5#post10224735

https://www.forexfactory.com/showthr...5#post10224735

when you trade the higher timeframe charts, the pullback can be very large in pips. Why not use the pull back and build up your positions in the market instead of sitting and look at your trades go into drawdown and do nothing during the pullback.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #81,635
  • Aug 28, 2017 6:40am Aug 28, 2017 6:40am
Quoting mokuro89
{quote} Is this what you mean with valve emmanuel? from this post {image} This basket in the square sounds like closed in BE or near and sounds to be the largest, simillar pattern on EURUSD trades the valve would be something like closing the actual basket in BE and open another new one if something like: amount of %, or number of orders, or lots/etc thresold get passed ?
no, that is not what the safety valve as in Mingary's Monty Hall problem riddle.

that basket of 5 trades has 3 losers and 2 winners and nett is negative in pips but that basket is profitable in money$$$.

it is about the MEME Exit Strategy.

Attached Image (click to enlarge)
Click to Enlarge Name: mokuro89 post.png Size: 76 KB


we can discuss the specification for MEME trade manager separately in private, not here as there are many new traders who have not read all the posts of the past 3 years.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #81,636
  • Aug 28, 2017 6:49am Aug 28, 2017 6:49am
GBPJPY D1 LONG
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYDaily.png Size: 38 KB
  • #81,637
  • Aug 28, 2017 6:50am Aug 28, 2017 6:50am
Quoting emmanuel7788
{quote} Hi okoso, You are right I don't trade Gold on lower timeframes. I trade Gold on end-of-day EOD basis with stocks and indices. I only look for buy. As for XAUUSD, yesterday was another Inside Day candle, this make Triple Inside Bar. Take a look at Weekly chart, and decide next week where to buy. And for you who trade lower timeframe, buy the dips. Good trading!
Buying the dips in low timeframe was tough last Friday and for those who managed to jump into buy.

Now we possibly see 1308 as next target this week. Market sentiments is bullish.

Attached Image (click to enlarge)
Click to Enlarge Name: XAUUSD Week 36 target 1308.png Size: 53 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #81,638
  • Aug 28, 2017 7:09am Aug 28, 2017 7:09am
Quoting jjventural
{quote} Many thanks emmanuel7788, but I am still having the same problem, zero divide error....

I just PM you on this error.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #81,639
  • Aug 28, 2017 1:21pm Aug 28, 2017 1:21pm
Inspired from another thread and pick up what is told from the very first post here, i like to trade simple.
Why not scalp wiht this nice tool? Comes in mind and i have something build to test.

Attached Image (click to enlarge)
Click to Enlarge Name: Unbenannt.png Size: 23 KB


Really inspiring dear eelfranz.
Perfection is the enemy of good enough!
  • #81,640
  • Aug 28, 2017 1:29pm Aug 28, 2017 1:29pm
Just took this trade on my demo account and will see how it plans out. If anyone can see I have gone wrong please let me know.
Craig
Attached Image (click to enlarge)
Click to Enlarge Name: 20170828_192503.png Size: 114 KB
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