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Trading Made Simple

  • #82,341
  • Oct 6, 2017 8:45pm Oct 6, 2017 8:45pm
Quoting emmanuel7788
{quote} 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.
Thank you for putting all the time and effort in keeping this thread alive so people like me can learn!
  • #82,342
  • Oct 7, 2017 12:47am Oct 7, 2017 12:47am
Quoting emmanuel7788
{quote} 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 ...
Hi Emmanuel,
Thank you for your reply. I know it might be repeated question, but there is no way to find an answer unless one spend few years reading everything as you said, which is not practical. Since no one can edit post 1 with updates, it will always be like this, unless you or someone else puts the ME/ME system in it's own thread to follow. Anyway, actually I've done all what you mentioned and spent the last three weeks reading all the material about BigE , his 5 method , his style etc... and I have done good test results in a demo (although short period). I'm comfortable with it now and I like to go a step further and follow how the original system has evolved. I'm not looking for short cuts, all what I'm saying is that I'm ready for the next stage
So can you help with learning the ME/ME, your tools, indi, templates, process and your style?
  • #82,343
  • Oct 7, 2017 2:41am Oct 7, 2017 2:41am
Quoting sabbah
{quote} Hi Emmanuel, Thank you for your reply. I know it might be repeated question, but there is no way to find an answer unless one spend few years reading everything as you said, which is not practical. Since no one can edit post 1 with updates, it will always be like this, unless you or someone else puts the ME/ME system in it's own thread to follow. Anyway, actually I've done all what you mentioned and spent the last three weeks reading all the material about BigE , his 5 method , his style etc... and I have done good test results in a demo...
Can I respond this questions? Any wrong, forgive me pls.
1. Big E he has done aggressive way mainly on H4, it seems too aggressive due to the changed forex market circumstance. So we now focus on Daily time frame.
2. Tools, indi, you can download it from here. One is Mini charts, TMS monitor,round level, PAC etc.
3. Emmanuel has add price action, money management into TMS to get consistent profit. Not like Big E Single Entry Single Exit. Call MEME
4. MEME on daily time frame, entry on M15 TDI cross, add more positions when retraced, 0.5 ADR 4 hrs apart at least. You can set Stop loss at your want, like Equity total loss, how many ADR retraced etc.
5. MeMe not use same size, as we always banked profit so due to the account grows, the size of positions must be bigger step by step. But it is not easy on small account, as Like him said, if no big account, like your yearly income size account, difficult to build the new size accordingly. It looks like Martingale, but it is not against trend. Usually, Martin style is against trends. We use banked profits to increase size. That is why Emma even pips is negative, but money is positive.
6. I have same issues of small account, like $1000. I start 0.01, then use same size new positions to fill up. There is an EA to do this, but it looks it not working satisfactorily.
  • #82,344
  • Oct 7, 2017 3:09am Oct 7, 2017 3:09am
Quoting sabbah
{quote} Hi Emmanuel, Thank you for your reply. I know it might be repeated question, but there is no way to find an answer unless one spend few years reading everything as you said, which is not practical. Since no one can edit post 1 with updates, it will always be like this, unless you or someone else puts the ME/ME system in it's own thread to follow. Anyway, actually I've done all what you mentioned and spent the last three weeks reading all the material about BigE , his 5 method , his style etc... and I have done good test results in a demo...
I'll try but putting all my 12,182 posts into a summary pdf will not make anyone see a complete picture.

Attached Image (click to enlarge)
Click to Enlarge Name: puzzles framed.png Size: 537 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #82,345
  • Oct 7, 2017 4:28am Oct 7, 2017 4:28am
Quoting tomgu
{quote} Can I respond this questions? Any wrong, forgive me pls. 1. Big E he has done aggressive way mainly on H4, it seems too aggressive due to the changed forex market circumstance. So we now focus on Daily time frame. 2. Tools, indi, you can download it from here. One is Mini charts, TMS monitor,round level, PAC etc. 3. Emmanuel has add price action, money management into TMS to get consistent profit. Not like Big E Single Entry Single Exit. Call MEME 4. MEME on daily time frame, entry on M15 TDI cross, add more positions when retraced, 0.5...
This is very helpful. Thank you Tomgu!
  • #82,346
  • Oct 7, 2017 4:37am Oct 7, 2017 4:37am
Quoting emmanuel7788
{quote} I'll try but putting all my 12,182 posts into a summary pdf will not make anyone see a complete picture. {image}
Well, you and other managed to put summery of Big E's posts, I'm sure a summery of your system will be helpful too. At least a good starting point to start seeing the big picture instead of getting lost in between 82k posts.
BTW, I just finished reading "Entry and Exits ebook pages", "Money management strategy ideas" and "How to Build a Position" pdfs. Your efforts are always appreciated Emmanuel.
  • #82,347
  • Oct 7, 2017 6:15am Oct 7, 2017 6:15am
Quoting sabbah
{quote} Well, you and other managed to put summery of Big E's posts, I'm sure a summery of your system will be helpful too. At least a good starting point to start seeing the big picture instead of getting lost in between 82k posts. BTW, I just finished reading "Entry and Exits ebook pages", "Money management strategy ideas" and "How to Build a Position" pdfs. Your efforts are always appreciated Emmanuel.
Here is a real example with AUDUSD.
A trader started his sell positions on July 17, the market went against his sell trades. He added more positions as the price rises against his sell trades, he thinks he is building positions and his belief was that the Aussie will fall due to fundamentals. He reported his trades in profits on Oct 06 when AU finally fell back to the level where he first sold.
Attached Image (click to enlarge)
Click to Enlarge Name: AU sell July 17 to Oct 05.png Size: 44 KB


I ran back-test using two models.

Model 1) is Sell only from July 17 and add on average down positions using M5 with minimum position distance. I take profits when the market retraces to give minimum 50 pips.

Attached Image (click to enlarge)
Click to Enlarge Name: Back-test AU July 17 to Oct05 Sell only TP 50pips.png Size: 89 KB


Model 2) Buy and Sell basket as initiated by the HA candle#2 using M5. Minimum TP 0.1 adr for open basket of trades. The risk for this model is 50% of the account deposit of $2,000.

Attached Image (click to enlarge)
Click to Enlarge Name: Back-test AU July 17 to Oct05 BuySell HA.png Size: 100 KB


What do you think of the above two models?
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #82,348
  • Oct 7, 2017 7:01am Oct 7, 2017 7:01am
First I dont like trading both way. Even it against me when put wrong direction. I have my SL, once hit, exit the market. Then wait, reenter. Even first, for small account, it is Martingale style trading. Is that MEME? For a successful MeMe trading, I think at least include 3 elements:
1, Accurate direction chosen, not a early bird. Like this example, it is a anti trend(D1), supposed to scalp some pips go.
2. Risk calculate, include SL for basket, Grid distance.If small account, may use bigger grid. Dont limit on 0.5 atr.
3. If right direction, we keep bank profits and keep open new positions to reduce our cost(buying price etc)

Sum up, we have confidence if our account is under floating profit. Even a little bit floating loss, that is fine.For small account <10%.
  • #82,349
  • Oct 7, 2017 8:21am Oct 7, 2017 8:21am
hi emanuel
you can show some exempels when exit in d1 with 3 patern bar please? with 2 bar in w1 exit i understand
  • #82,350
  • Oct 7, 2017 8:46am Oct 7, 2017 8:46am
Quoting emmanuel7788
{quote} Here is a real example with AUDUSD. A trader started his sell positions on July 17, the market went against his sell trades...
Well, I would not open a position without a SL, that's for sure. If it gets hit I move on to look for another trade. My live account is small and I will not make big risks to save one trade.
  • #82,351
  • Oct 7, 2017 2:59pm Oct 7, 2017 2:59pm
Hi All Experts/ Emmanuel

Last week I took 3 trades.
AUDUSD
NZDUSD
USDJPY
The trades are still running and I plan to let them run for the coming week as well

Any sugestion/criticism is most welcome.

These are my picks for the week

EURNZD
Week is bullish,
I might take this trade straight on the market open

GBPCAD
Week and month are clearly bearish
I'll take straight on the market open


Will stay away from
EURCAD and AUDCAD as they are at strong support levels

Regards
  • #82,352
  • Edited 6:35pm Oct 7, 2017 5:14pm | Edited 6:35pm
I am still being consistently profitable with Big E's original system. I think the problem boils down to people not following it correctly. There is only one thing I do different with his system. Which most people would say is the big draw-down in pips. I changed that. That is having either a 10 , 20, or 30 pip stop loss (depending on the timeframe) if you get in a trade and it starts to go directly against you from the start. This strategy obviously relies on momentum. Which in most cases the strategy works. You will get some trades that go against you after entering. That's life. 10 pip stop loss for 15min charts. 20 pip for hourly charts. 30 pip stop loss for 4hr and daily. ALSO remember if your trade goes up one candle and starts to reverse, take half profit from the entry to the high of that candle(This solves ranging candles).( THESE ARE THINGS TO REMEMBER WITH BIG E'S SYSTEM.

-DO NOT TRADE AGAINST A STEEP ANGLE TREND ONLY IF A LARGE CANDLE CONFIRMS REVERSAL WITH STOCH

-DO NOT TRADE SMALL CANDLES ON TDI CROSSES

-ALWAYS FOLLOW THE TDI EXIT RULES. (HOOKING, CHECK-MARK, FLAT) YOU CAN GET BACK IN ON BOUNCES

-DO NOT TRADE AGAINST STOCH DIRECTION

-ONLY TRADE STEEP TDI ANGLES


I BELIEVE AND KNOW BIG E WANTED TO HELP PEOPLE. JUST SOME PEOPLE CANT SEE HIS SYSTEM CORRECTLY. HE HAD AN EYE FOR THE MARKET WITH THIS SYSTEM. I SEE IT TOO. MAY GOD HELP ALL OF YOU TO BE PROFITABLE. USE BIG E'S SYSTEM AND FOLLOW SOME OF MY TIPS AND YOU CAN'T GO WRONG!!!!!

LET ME KNOW WHAT YOU GUYS THINK. I'M SO EXCITED!
Make it as perfect as you can....
  • #82,353
  • Oct 7, 2017 6:51pm Oct 7, 2017 6:51pm
Quoting mazibee
Hi All Experts/ Emmanuel Last week I took 3 trades. AUDUSD NZDUSD USDJPY The trades are still running and I plan to let them run for the coming week as well Any sugestion/criticism is most welcome. These are my picks for the week EURNZD Week is bullish, I might take this trade straight on the market open GBPCAD Week and month are clearly bearish I'll take straight on the market open Will stay away from EURCAD and AUDCAD as they are at strong support levels Regards
mazibee,

I'm not an expert so I hope i'll do until one gets here.

You're AU trade is a tweek (that's a very little bit) above daily 200ma, weekly 50ma and monthly 10ma.
NU has been under the influence of a monthly WRB and a weekly WRB. both lower support lines
were broken with friday's close. First BPR is .69367 Friday was sig bar for me.
UJ has been in consolidation since 9-27 bar. Deserves a watchful eye.

EN I agree, go on market open. BPR approx. 1.66000 monthly R around 1.7000 then clear to 1.70894.
GC closed between 2 BP lines with good momo last 4 out of 5 bars. I see continuation to 1.61276.
I'll go on open too.

Good going to you,

Frank
  • #82,354
  • Edited Oct 8, 2017 2:14am Oct 7, 2017 8:18pm | Edited Oct 8, 2017 2:14am
Here’s my take for the week ahead for MEME trading.

Last week sold AUSUSD / GBPUSD / EURUSD …… Sorry, I couldn’t help myself here. I banked many pips here and even brought USDJPY (Don’t tell Emmanuel). Some weeks you just can’t help yourself when tradings running your way.
I still have GBPJPY and NZDUSD open both short and will run with it this week
I was most annoyed on EURNZD. I had planned a trade here for a week but missed it because I was busy. There was a a WRB bar breakout which happen on the Daily Charts.
Trades for next Week

GBPJPY- Short already opened
NZDUSD - Short already opened
EURNZD – Buy ( whats happening with the elections )
EURGBP – Buy and nice trend.
GBPCAD – Agree with Mazibee, Sell looks Good
USDCAD- Still like to Buy here but will wait to see if it tests the 50 EMA.

Cheers
Trading thin liquidity at the boundary of the charts
  • #82,355
  • Oct 7, 2017 10:52pm Oct 7, 2017 10:52pm
Quoting philstodd
I am still being consistently profitable with Big E's original system. I think the problem boils down to people not following it correctly. There is only one thing I do different with his system. Which most people would say is the big draw-down in pips. I changed that. That is having either a 10 , 20, or 30 pip stop loss (depending on the timeframe) if you get in a trade and it starts to go directly against you from the start. This strategy obviously relies on momentum. Which in most cases the strategy works. You will get some trades that go against...
How many trades have you done with these kind of stop loss which you claimed to be 'still consistently profitable'?
<"
10 pip stop loss for 15min charts. 20 pip for hourly charts. 30 pip stop loss for 4hr and daily
">

Which are the currency pairs you traded with consistent profits using such stop loss?

I want to learn because I must have been doing somethings wrong in the last 10 years trading.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #82,356
  • Oct 7, 2017 10:54pm Oct 7, 2017 10:54pm
Food for Thought while we enjoy the weekend:

Attached Image (click to enlarge)
Click to Enlarge Name: Van Tharp on beliefs.png Size: 113 KB


If you have been trading for say 5 years, starting in 2012 as a newbie and after 5 years of learning and trading, and still have not made any money. You should re-examine your beliefs about the market.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #82,357
  • Oct 7, 2017 10:59pm Oct 7, 2017 10:59pm
Food for Thought.

Attached Image
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #82,359
  • Oct 8, 2017 2:10am Oct 8, 2017 2:10am
Quoting philstodd
I am still being consistently profitable with Big E's original system. I think the problem boils down to people not following it correctly. There is only one thing I do different with his system. Which most people would say is the big draw-down in pips. I changed that. That is having either a 10 , 20, or 30 pip stop loss (depending on the timeframe) if you get in a trade and it starts to go directly against you from the start. This strategy obviously relies on momentum. Which in most cases the strategy works. You will get some trades that go against...
Valuable information , really comes from experience in the market and Big E trading strategy , thanks for sharing gold nuggets from the old days
I Have Learned to Take Some Losses to Make Profits
  • #82,360
  • Oct 8, 2017 4:25am Oct 8, 2017 4:25am
Quoting mazibee
Hi All Experts/ Emmanuel Last week I took 3 trades. AUDUSD NZDUSD USDJPY The trades are still running and I plan to let them run for the coming week as well Any suggestions/criticism is most welcome. These are my picks for the week EURNZD Week is bullish, I might take this trade straight on the market open GBPCAD Week and month are clearly bearish I'll take straight on the market open Will stay away from EURCAD and AUDCAD as they are at strong support levels Regards

Hi guys

Looking at week 41 BPP, if everything goes to plan, my focus will probably be mostly on:

Group 1 for possible bearish continuations (except USDCAD - bullish). I can not decide between the GBPUSD or NZDUSD. Will keep an eye on both as we get going.
Group 2 stand out is EURNZD, bullish
Group 3 GBPCAD, bearish
In group 4 again I cannot decide. I am conflicted. You'd have to be blind to miss the big red candles on the GBPJPY, but all pairs this group have a slight bullish bias on the weekly charts (USDJPY a bit flat), so not comfortable with counter trend positions.

Wait and see I guess. Mazibee and RickM, thanks for posting your ideas.

Best to all for a great week.
Real knowledge is to know the extent of one's ignorance.
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