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Trading Made Simple

  • #81,661
  • Aug 30, 2017 8:36am Aug 30, 2017 8:36am
Quoting emmanuel7788
{quote} using another MA of the RSi data, you are just looking at different average period of the price momentum. what about the RSI 50 level ? spend more time and study the price action and look at where the support/resistance were before. in the next advance version of '"TMS" I will drop the TDI and RSI. No more oscillator. .. just plain old price action. Without the TDI, it wont be TMS but just trading made simpler....

Hi Emmanuel
When can we expect a the new version??

How long do you spend a day studying charts and making judgements on good trades, I'm currently spending 1 - 1.5 hours a day studying on an evening do you think I should be doing more or studying the charts every 4 hours or is evening ok if you are trading day timeframe??
Thanks
Craig
  • #81,662
  • Aug 30, 2017 8:39am Aug 30, 2017 8:39am
My trades few minutes ago ...

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Perfection is the enemy of good enough!
  • #81,663
  • Aug 30, 2017 9:04am Aug 30, 2017 9:04am
Dear Emmanuel / experienced traders,

I hope you donīt mind if I ask you some question about Money Management.

* From the learning perspective, Is better to practise including ME/ME from the begining or is better to start with single entries only?
* What is the meaning of "lotto" money management? Does it means "averaging"?
* A balance of 2000 USD for each 0.01 lot of each currency is OK for ME/ME approach?
* How should be managed the overall emergency basket close system based on equity? Iīve read itīs ok to consider exiting at 10-15% loss but, Isnīt it too risky?
* What is maximum entries suggested per basket?

Iīm sorry if some of this questions have already been answered before. I have invested many hours reading the thread and have practise TMS during months with questionable results. Now my performance has improved a bit using a simulator but I havenīt used the ME/ME approach yet. If someone can help me a bit with this particular question Iīd be very happy.

Thanks in advance
  • #81,664
  • Aug 30, 2017 9:22am Aug 30, 2017 9:22am
Quoting emmanuel7788
{quote} using another MA of the RSi data, you are just looking at different average period of the price momentum. what about the RSI 50 level ? spend more time and study the price action and look at where the support/resistance were before. in the next advance version of '"TMS" I will drop the TDI and RSI. No more oscillator. .. just plain old price action. Without the TDI, it wont be TMS but just trading made simpler....
Thanks emmanuel7788.... waiting for it.....
  • #81,665
  • Aug 30, 2017 9:22am Aug 30, 2017 9:22am
Quoting tbarper
Dear Emmanuel / experienced traders, I hope you donīt mind if I ask you some question about Money Management. * From the learning perspective, Is better to practise including ME/ME from the begining or is better to start with single entries only? * What is the meaning of "lotto" money management? Does it means "averaging"? * A balance of 2000 USD for each 0.01 lot of each currency is OK for ME/ME approach? * How should be managed the overall emergency basket close system based on equity? Iīve read itīs ok to consider exiting at 10-15% loss but,...
The multi entry moneymanagement is very complex.

The benefits are: If you do it right, you have a better chance to gain.
The contra is: If you don t do it correctly, you īll have harsh losses very quick!!!

YOU must decide if houndreds of hours extra knowledge help you or confuse you.

My advice.. step by step.. finnish one and then do next..

Quick view Insurance or lotto way:
Lotto: you have a several satellite accounts with 1-5% of your trading capital
Benefit: when you are in one of these glory moments when one of these Black Swan Moments like the Swiss National Bank intervents with the Franken/Euro.
You don t risk thwe whole trading capital.

Insurance:You have ONE account and withdraw your gains by a plan. ..you risk the capital by trade risk (except Black Swan Moment).

Hope that helped you with a couple of lines.

Guido



Up to you
Risiko birgt immer auch die Chance.
  • #81,666
  • Aug 30, 2017 11:08am Aug 30, 2017 11:08am
Quoting johnzoe
{quote}Well, anyone, can please add the alert for this indicator?
Hi John, the sourcecode is decompiled and appears to be copyrighted material. Could be illegal to touch it!
Cheers.
  • #81,667
  • Aug 30, 2017 11:40am Aug 30, 2017 11:40am
Quoting tbarper
I have invested many hours reading the thread and have practise TMS during months with questionable results. Now my performance has improved a bit using a simulator but I havenīt used the ME/ME approach yet.
Hi, I had same questionable results at start, but lately I see a definite improvement in my results. I take small steps, and enter with small lot-sizes. Just hang in there and you will get the results eventually. And yes, I too invested hundreds of hours in reading, taking notes, asking questions. I came to the conclusion that TMS is the method that suits me. The ME/ME approach is very much beyond me. These screenshots from Emm and Deichkind look like magic to me. So I leave that for now until I am confident AND consistent for at least a couple more months. My goal is to at least double my account before I will try to extend on my current approach.

At first I was attracted by the name "Trading Made Simple". I thought, "Aha, just what I need". Then I found out that TMS is not simple at all. So I started looking into other forums. Eventually, I came to the conclusion that this TMS works for me and that I was confident that I would be able to learn how to do it. Now I am happy I stuck to this forum.

Hope this helps you a bit making your choices
  • #81,668
  • Aug 30, 2017 12:27pm Aug 30, 2017 12:27pm
Quoting tbarper
Dear Emmanuel / experienced traders, I hope you donīt mind if I ask you some question about Money Management. * From the learning perspective, Is better to practise including ME/ME from the begining or is better to start with single entries only? * What is the meaning of "lotto" money management?
I have been studying MM from Emmanuel previous posts. Here one about LOTTO and INSURANCE MM.

https://www.forexfactory.com/emmanuel7788
  • #81,669
  • Aug 30, 2017 1:40pm Aug 30, 2017 1:40pm
Further tests ...
cool thing this TDI ...

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Perfection is the enemy of good enough!
  • #81,670
  • Aug 30, 2017 2:25pm Aug 30, 2017 2:25pm
EURGBP. I think it reached it's top and expect it will go down now.
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  • #81,671
  • Aug 30, 2017 6:43pm Aug 30, 2017 6:43pm
Quoting jansb000
EURGBP. I think it reached it's top and expect it will go down now. {image} {image}

yesterday D1 HA candle closed with change in colour, that is exit signal for buy.

it is month end, that is the upper wick of a very bullish MN bar/candle.

wait till the W1 closes.

meantime, can trade lower TF intraday, take small trades with this high pip value pair.

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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #81,672
  • Aug 30, 2017 6:51pm Aug 30, 2017 6:51pm
EURGBP Aug month

If you had follow D1 chart trading using the PAC,

you would have 2 trades - +66pips and +62pips.

you only need to trade once a day, checking when D1 candle close and a new one opens.

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If you do this for 19 pairs, you will find at least 5 good trades a month. Do you need more?
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #81,673
  • Aug 30, 2017 7:37pm Aug 30, 2017 7:37pm
Quoting RSP.fx
{quote} I have been studying MM from Emmanuel previous posts. Here one about LOTTO and INSURANCE MM. https://www.forexfactory.com/emmanuel7788

I think you mean this old post #80,775 link with that video.

https://www.forexfactory.com/showthr...3#post10080343
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #81,674
  • Aug 30, 2017 8:10pm Aug 30, 2017 8:10pm
Quoting tbarper
Dear Emmanuel / experienced traders, I hope you donīt mind if I ask you some question about Money Management. * From the learning perspective, Is better to practise including ME/ME from the begining or is better to start with single entries only? * What is the meaning of "lotto" money management? Does it means "averaging"? * A balance of 2000 USD for each 0.01 lot of each currency is OK for ME/ME approach? * How should be managed the overall emergency basket close system based on equity? Iīve read itīs ok to consider exiting at 10-15% loss but,...

Hi tbarper,

Let me jut answer your question very briefly without going into lengthy post reply.

1) It depends on your trading knowledge and experience. I don't recommend that everyone should start trading with multiple entries/multiple exits ME/ME. First you must know the different entry and exit strategies, their pros and cons, and how it can be used in your trading business plan to help you achieve your financial goal in this business. Every strategy has its strengths and weaknesses, some work in short term while others work better in long term.
Most important for a start is to pick one trading methodology, learn it well and master trading the methodology. Then use that methodology and develop your own winning system by following a systematic guide in developing a winning system that fits you.

2) Regarding the Lotto model, it has to do with risk management and how you manage your investment and trading capital. The post#80,775 above provided the link to that old post and video. Know that and what the two models are. I develop my own Cash Flow model after more than 20 years of trading.

3) Many traders trade with small amount of money. Mostly from money they earn from their day jobs and career. Basically, these part-time traders wanting to make some money from the markets and I say these traders finance their trading with their hard earned money. Some trading coaches will teach you to trade with money you can afford lose. Sounds logical and prudent, but that is a loser mind set to begin off.
Is a balance of $2,000 a good start? Well that depends on where you live and your annual income. How much do you expect to generate from that $2,000?
I work on the basis of one's annual income and to generate say 20% per annum from an annual income as your trading capital, how would you manage this trading capital?
From my experience, trading an account $2,000 using the smallest lot available 0.01lot per trade, you can possibly make 5% every every 20-trading days cycle. You will suffer a cut-loss drawdown of 10% about 3 to 4 times in one complete 12 times 20-trading days cycle (not calendar year).

4) Maximum number of trades entries per ME basket is 5 trades. But there are different variations to this and it depends on the trade plan which we develop from our top down analysis to form our Big Picture Plan for every currency pair that we trade. The trade plan is to trade a basket of 5 different currency pairs each from the 5 groups of currency pairs. We do not trade just one pair with ME/ME. This is part of the overall money management strategy. If you trade one pair with $2,000, you will need $10,000 to enable you to trade maximum 5 pairs in one same account.

so much for now, meantime keep practicing trading with live demo and you will learn.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #81,675
  • Aug 31, 2017 2:39am Aug 31, 2017 2:39am
Quoting emmanuel7788
AUDNZD Week 34 Aug 25: NZD major correction against USD means bullish AUDNZD. Do Not sell AUDNZD blindly just because some indicator(s) tell you to and some rookie trader believes that. {image} Note on the H4 chart, the 'daylight' between the 10EMA and 50EMA and 200EMA is huge. We can trade H4 counter trend when there is good amount of 'daylight'. 'daylight' is the pips space between moving averages.
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AUDNZD update Aug 31, last trading day for the month.

Still no sign of down move as the major trend on MN and W1 are both bullish. Do Not assume that the market will reverse at weekly pivot R61 and R100. Always do your top down analysis and have a view to the higher timeframes for high probability trades.

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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #81,676
  • Aug 31, 2017 3:14am Aug 31, 2017 3:14am
Quoting emmanuel7788
{quote} {image} AUDNZD update Aug 31, last trading day for the month. Still no sign of down move as the major trend on MN and W1 are both bullish. Do Not assume that the market will reverse at weekly pivot R61 and R100. Always do your top down analysis and have a view to the higher timeframes for high probability trades. {image} {image}
Excellent explained.
Bravo .
Risiko birgt immer auch die Chance.
  • #81,677
  • Aug 31, 2017 3:35am Aug 31, 2017 3:35am
Quoting Sesamstrasse
{quote} Excellent explained. Bravo .
EMM has put in a lot of work in helping others understand the market and is to be congratulated for his patience and willingness to share. Thanks Emmamuel7788
every Saint has a past. Every Sinner has a Future
  • #81,678
  • Aug 31, 2017 3:43am Aug 31, 2017 3:43am
Quoting jansb000
{quote} Hi, I had same questionable results at start, but lately I see a definite improvement in my results. I take small steps, and enter with small lot-sizes. Just hang in there and you will get the results eventually. And yes, I too invested hundreds of hours in reading, taking notes, asking questions. I came to the conclusion that TMS is the method that suits me. The ME/ME approach is very much beyond me. These screenshots from Emm and Deichkind look like magic to me. So I leave that for now until I am confident AND consistent for at least a...
Hi , may I ask you if you use the TMS system only , on SE/SE (single entry/exit) , in how many months do you expect to double your account ?
thanks in advance for your answer.
  • #81,679
  • Aug 31, 2017 3:58am Aug 31, 2017 3:58am
Quoting emmanuel7788
{quote} Hi tbarper, Let me jut answer your question very briefly without going into lengthy post reply. 1) It depends on your trading knowledge and experience. I don't recommend that everyone should start trading with multiple entries/multiple exits ME/ME. First you must know the different entry and exit strategies, their pros and cons, and how it can be used in your trading business plan to help you achieve your financial goal in this business. Every strategy has its strengths and weaknesses, some work in short term while others work better in...
"From my experience, trading an account $2,000 using the smallest lot available 0.01lot per trade, you can possibly make 5% every every 20-trading days cycle. You will suffer a cut-loss drawdown of 10% about 3 to 4 times in one complete 12 times 20-trading days cycle (not calendar year)." I totally agree with you , it is what I firmly believe (and do realise with same real account to see how it works with real money !) , and even 5%/month is still a target to be consistenly reached because my actual realisation is more around 2-4%/month !
  • #81,680
  • Aug 31, 2017 4:33am Aug 31, 2017 4:33am
Quoting bodal
{quote} "From my experience, trading an account $2,000 using the smallest lot available 0.01lot per trade, you can possibly make 5% every every 20-trading days cycle. You will suffer a cut-loss drawdown of 10% about 3 to 4 times in one complete 12 times 20-trading days cycle (not calendar year)." I totally agree with you , it is what I firmly believe (and do realise with same real account to see how it works with real money !) , and even 5%/month is still a target to be consistenly reached because my actual realisation is more around 2-4%/month...
name me any pair and I will run a back-test for the last 3 months to see if this 5% is really possible.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
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