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Trading Made Simple

  • #82,321
  • Oct 5, 2017 6:02pm Oct 5, 2017 6:02pm
Today is NFP.

When I trade the D1 chart, I don't let NFP worry me because the market knows its longer term direction / trend.

NFP will create volatility to fills orders - your trades stop loss are also orders which the market will use volatility to fill them too.

Trade Safe, use Stop Loss but where are safe Stop Loss for NFP today?

When trading with ME/ME, we do not worry about the volatility stops. We have our Equity Protection stops which your broker will not see them.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #82,322
  • Oct 5, 2017 6:35pm Oct 5, 2017 6:35pm
NFP Oct 6 2017

Look at this D1 chart below with all the NFP days marked.

Today's pre-NFP for UJ is sideways. You can either buy or sell because it is speculative day.

Will post-NFP be bullish or bearish? UJ is holding 113.00 for many days since.


Attached Image (click to enlarge)
Click to Enlarge Name: USDJPY NFP Days Oct 6.png Size: 50 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #82,323
  • Oct 5, 2017 11:25pm Oct 5, 2017 11:25pm
Quoting s854110
{quote} hi emmanuel I have questions, please answer Thank you {image}
Attached Image


The answer to your question is simple and easy:

take profits whenever your positions are in profits.
Do Not wait for retracement to build up your positions to fill up one basket of trades because when the trend breaks out, the retracement maybe be very shallow or no retracement at all like this GBPUSD example trade this week.

you should consider trading a basket of 3 to 5 currency pairs in one same trading account. Pick the pairs from each of the 5 groups of the 19 pairs.
there is reason for doing this.


Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD Week 40 take profits.png Size: 33 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #82,324
  • Oct 5, 2017 11:54pm Oct 5, 2017 11:54pm
I will do ME/ME for EURNZD D1 Chart, it looks good~
  • #82,325
  • Oct 6, 2017 12:10am Oct 6, 2017 12:10am
Quoting mousteven
I will do ME/ME for EURNZD D1 Chart, it looks good~

do you want to sell or buy?

technically, I see potential for buy when there is increase in price volatility in a few days or maybe 1~2 weeks.
we have the Sep and Aug MN highs to overcome for buyers.

do we have fundamentals support for bull rally?
Spain and Catalonia independence will need a lot more time to resolve itself.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #82,326
  • Oct 6, 2017 12:44am Oct 6, 2017 12:44am
Quoting RickM
{quote} Hi Tomgu I am running the Tibovwh's EA along side another version I have being using this year and will let you know the results. It looks good so far with less effort. I will see if the final target price, where it turns off the EA after reaching this point, works correctly. I must add its been on my platform for over a year and never got around to testing it till Emmanual mentioned it again.
Thanks for your feedback. This Target is an issue, always overieded by itself once a new pending order filled. It should be a key Pivot level which user input. Like Xauusd, the target is only $7 away.
  • #82,327
  • Oct 6, 2017 12:56am Oct 6, 2017 12:56am
Quoting tomgu
{quote} Thanks for your feedback. This Target is an issue, always overieded by itself once a new pending order filled. It should be a key Pivot level which user input. Like Xauusd, the target is only $7 away.

do not use any kind of Pivot because Pivot calculation changes every new day or week or month.

that trade manager by tibovwh still have a few add-on features to improve on the Exit Management profit taking.

1) need to include Profit Lock feature. this will lock the Minimum Profits (in pips or $$$) when the price move in favour of your trades/basket.

2) Exit on on TDI(RSI MA) M5 cross after Profit Lock set.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #82,328
  • Oct 6, 2017 2:14am Oct 6, 2017 2:14am
Quoting emmanuel7788
{quote} {image} The answer to your question is simple and easy: take profits whenever your positions are in profits. Do Not wait for retracement to build up your positions to fill up one basket of trades because when the trend breaks out, the retracement maybe be very shallow or no retracement at all like this GBPUSD example trade this week. you should consider trading a basket of 3 to 5 currency pairs in one same trading account. Pick the pairs from each of the 5 groups of the 19 pairs. there is reason for doing this. {image}
Hi Emmanuel

Pls highlight the 5 groups of 19 pairs
  • #82,329
  • Oct 6, 2017 2:30am Oct 6, 2017 2:30am
Quoting emmanuel7788
{quote} do you want to sell or buy? technically, I see potential for buy when there is increase in price volatility in a few days or maybe 1~2 weeks. we have the Sep and Aug MN highs to overcome for buyers. do we have fundamentals support for bull rally? Spain and Catalonia independence will need a lot more time to resolve itself.
Emmanuel,

I entered BUY.... hope it will be okay.
Attached Image (click to enlarge)
Click to Enlarge Name: 2017-10-06_152705.png Size: 9 KB
  • #82,330
  • Oct 6, 2017 3:01am Oct 6, 2017 3:01am
Quoting emmanuel7788
{quote} do not use any kind of Pivot because Pivot calculation changes every new day or week or month. that trade manager by tibovwh still have a few add-on features to improve on the Exit Management profit taking. 1) need to include Profit Lock feature. this will lock the Minimum Profits (in pips or $$$) when the price move in favour of your trades/basket. 2) Exit on on TDI(RSI MA) M5 cross after Profit Lock set.
Hi Emmanuel,

I understand that you have your own modified steup a bit different than the original BigE's. I'm trying to replicate both setups and run both on demos. My problem is your posts scattered everywhere and I can't find the complete steup. e.g. Which TDI indi you use and settings. It is same one of Synergy pro TDI (where you can change only the RSI value) or something else. Are you using HA indi or Synergy pro APB (which draw the PAC) and you draw the PAC on top on HA candles? Do you use Stoch for confirmation and if so what is the settings? S/R indi, pivot indi or not... etc... etc... Maybe if you share your templates (maybe one for analysis another for placing the orders) it will help, along with the indicators and a screenshot of the settings). Along with that a short doc explaining your orders setup, rules, SL/TP, etc... and which trade manager do you use/recommend?

I'm sure I'm not the only one who would like to see all of this.


Thanks in advance.
  • #82,331
  • Oct 6, 2017 4:40am Oct 6, 2017 4:40am
Quoting jkay7214
{quote} Hi Emmanuel Pls highlight the 5 groups of 19 pairs

these old posts will help your question:

https://www.forexfactory.com/showthr...70#post9132070

https://www.forexfactory.com/showthr...67#post9574867
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #82,332
  • Oct 6, 2017 4:51am Oct 6, 2017 4:51am
Quoting emmanuel7788
{quote} these old posts will help your question: https://www.forexfactory.com/showthr...70#post9132070 https://www.forexfactory.com/showthr...67#post9574867
Thank you Emmanuel.
You are really a great guy for spending the time to help the newbies here. Hats off to you
  • #82,333
  • Oct 6, 2017 7:26am Oct 6, 2017 7:26am
Quoting emmanuel7788
{quote} Trade Report - trades closed for the week Sep 25 to 29. Still within the first 10 trading days of a new 20-trading days cycle although it was month end. The 20-trading days cycle runs into the new month October. {image}

Trade Report - Week 40 trades closed Oct 02 to 06. Closing some trades before NFP . One loss this week - AUDJPY.

Attached Image (click to enlarge)
Click to Enlarge Name: Trade Report Week 40 trades closed Oct 02 to 06.png Size: 38 KB


For those who PM me for the Trade Report indciator, it is in this post link below.

https://www.forexfactory.com/showthr...3#post10231193

download that and use it on any chart and set the dates you want to see.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #82,334
  • Oct 6, 2017 8:37am Oct 6, 2017 8:37am
Hello! I hope all is well with everyone. Emmanuel7788, can use send me the indicator for this setup. I use to be on here 4 or 5 years ago. I decided to start trading again. Have a great day. Thanks, carlen68.

https://www.forexfactory.com/attachm...6&d=1507197081
KYSS - KEEP YOU SCREEN SIMPLE - GO WITH THE HEARD - TREND IS YOUR FRIEND
  • #82,335
  • Oct 6, 2017 3:26pm Oct 6, 2017 3:26pm
Quoting carlen68
Hello! I hope all is well with everyone. Emmanuel7788, can use send me the indicator for this setup. I use to be on here 4 or 5 years ago. I decided to start trading again. Have a great day. Thanks, carlen68. {image}
Hi carlen68,

From Emmanuel7788 post 82,267:

Pipware mini charts

go back to this post:

https://www.forexfactory.com/showthr...7#post10248887
Real knowledge is to know the extent of one's ignorance.
  • #82,336
  • Oct 6, 2017 5:05pm Oct 6, 2017 5:05pm
Thanks, SanAshi. Have a great weekend.
KYSS - KEEP YOU SCREEN SIMPLE - GO WITH THE HEARD - TREND IS YOUR FRIEND
  • #82,337
  • Oct 6, 2017 6:35pm Oct 6, 2017 6:35pm
Quoting emmanuel7788
{quote} Example below, we have a new Day open and the D1 candle opened about 2 hours ago. You can still enter a trade at this beginning of a new D1 candle. {image} Initial Stop Loss above the PAC High to do your trade Position Size with %Risk.
Thnx Emmannuel,

Sounds very logical when you put it like that!

Gotta lot of reading to catch up to, the system seems very logical to me
  • #82,338
  • Oct 6, 2017 6:37pm Oct 6, 2017 6:37pm
Quoting emmanuel7788
{quote} Trade Report - Week 40 trades closed Oct 02 to 06. Closing some trades before NFP . One loss this week - AUDJPY. {image} For those who PM me for the Trade Report indciator, it is in this post link below. https://www.forexfactory.com/showthr...3#post10231193 download that and use it on any chart and set the dates you want to see.
you probably elaborated on this sometime, but could you tell me why the lot size so big for EURUSD?
  • #82,339
  • Oct 6, 2017 8:23pm Oct 6, 2017 8:23pm
Quoting sabbah
{quote} Hi Emmanuel, I understand that you have your own modified steup a bit different than the original BigE's. I'm trying to replicate both setups and run both on demos. My problem is your posts scattered everywhere and I can't find the complete steup. e.g. Which TDI indi you use and settings. It is same one of Synergy pro TDI (where you can change only the RSI value) or something else. Are you using HA indi or Synergy pro APB (which draw the PAC) and you draw the PAC on top on HA candles? Do you use Stoch for confirmation and if so what is the...
I know it is daunting but not impossible to read all the 82k posts in this thread. Every of your questions has been asked and answered moer than once in this massive thread. However, there is no short cut to become a trader and make money in this very brutal spot forex market.

First most important thing before you want to be able to trade like me is that you first learn the way the OP Big E traded during his time between 2008 and 2010.
You must learn what his 5-Method is all about, how he started trading as a newbie and what he did to the Synergy trading model to become the 5-Method. You have to know the man Big E, his money management, his risk appetite, his lifestyle. Also important is that he started trading in the lower timeframes M5, M15 then abandon these and traded only the H1 and H4.
He did not like to trade D1. Why? if you know his reasons, then you will know why a group of active TMS traders develop ME/ME back in 2013 and till today we are still evolving with more innovative money management ideas to mitigate trading risks and to suit individual risk appetite to help each one achieve his/her financial objectives.

It would help you if you follow this path:

Option #1 will help you in knowing the OP and the history of this 'system'.
Option#2 is what you can take along with you and read in your free time.
Option #3 is for you who have been trading for 5 years and you will get started very easily.

Option #1: Go to this post link, read and follow that post.

https://www.forexfactory.com/showthr...80#post9661780

Option #2: Go to this post link, download and read those two pdfs files.

https://www.forexfactory.com/showthr...31#post9656031

Option #3: Click and read One, Two and Three

If you are prepared to spend 3 to 5 hours every day for the next 2 to 3 years, your probability to make it to become a trader is high. But still it does not guarantee you that you will make enough money consistently to make forex trading into a full time career.
You will still be missing one thing.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #82,340
  • Oct 6, 2017 8:32pm Oct 6, 2017 8:32pm
Quoting TrendRider86
{quote} you probably elaborated on this sometime, but could you tell me why the lot size so big for EURUSD?
It is about balancing the use of my trading margin I have in that broker account. When I started with my trade plan some weeks back, I saw opportunity to trade the strong USD in that Group1 USD pairs. So I used more of the banked-in profits to trade EURUSD based on my Big Picture. However after 4 weeks of trading, it now seems like I was wrong and we saw GBPUSD and NZDUSD ran better this week.
With my EURUSD trades closed yesterday, I will review my trade plan for next week and most likely EURUSD will not be traded in the next 2 weeks.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
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