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Trading Made Simple

  • #82,361
  • Oct 8, 2017 6:05am Oct 8, 2017 6:05am
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...
Your SL varies on both posts , which one is correct ????????

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  • #82,362
  • Oct 8, 2017 6:16am Oct 8, 2017 6:16am
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. 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. {image} 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....

To be honest, WAY over my head at this point in time, but I understand the concept of trying to explain different approaches to risk management. From what I have read the real problem with retail forex traders is their focus on their strategy and where price will go, and they miss the pivotal cornerstone to longevity in trading, risk management.

The fellow in your example had to suffer a big drawdown in his equity while he waited for his trades to play out and for the price to finally get to his TP. At this point, his profits were realised and Balance=Equity. Not a good idea for a micro account.

In model 1, I like the way the equity curve shoots up above the balance line. This still has a drawdown period where blue (balance) bounces over green (equity), but it seems to be a more controlled and sculpted curve.

In model 2, the unattractive parts are the drawdowns. Chaotic and seemingly more unpredictable.

I would like to control my trading to sculpt the Equity curve I want to, rather than chaos. I see the logic in the MEME methodology you are using. Cutting losses early and adding to positive positions (when the environment is right) makes a lot of sense. Just building the confidence and skill to do it is taking time.

I like the diversification into the different currency groups every week. It has a positive effect of spreading risk over a basket of currencies and will create another edge in our trading over time. TMS is not just a collection of indicators and a strategy of entries and exits, it needs to have the money and risk management to go with it.

Newbies perspective, I know, but I gave it a crack.

How did I do professor?
Real knowledge is to know the extent of one's ignorance.
  • #82,363
  • Oct 8, 2017 6:35am Oct 8, 2017 6:35am
Quoting bob44
{quote} Your SL varies on both posts , which one is correct ???????? {image}

obviously he edited his post.

I am excited to hear from him how those small Stop Loss will work in H1 and H4/D1. I have read all his posts (11 of them in total) and I have not seen any chart with trades done.

Until I see some of his trades going forward, I can only give him the benefit of doubt. I am still willing to learn from him and anyone here who trades like Big E did.
I have tried and I could never get those win rates of 70 to 80% Big E claimed.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #82,364
  • Oct 8, 2017 7:07am Oct 8, 2017 7:07am
September was another good month in trading the ME / ME trading Strategy for me. My Equity curve may not be as smooth as I would like but over all I'm gaining more confidence and I have began to develop strategy's to deal with loosing baskets. I am not afraid to trade several pairs in the same group but have Plans B and C ready in case all hell breaks loose. All these details I have entered into my trading plan so I feel all is under control. I well say it has taken me around 9 Months to really feel comfortable with the risks in trading this strategy. I however feel that a risk of 3% per pair works for me. If the risk is too low, we may not care enough to work on a get out parcel trade ( Plan B )
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Trading thin liquidity at the boundary of the charts
  • #82,365
  • Oct 8, 2017 7:10am Oct 8, 2017 7:10am
Week 41 Oct 09 to 13 D1 chart trading:

5 Currency Pair Groups

Group 1
AUDUSD
EURUSD
GBPUSD
NZDUSD
USDCAD

Groups 2
EURAUD
EURNZD
EURCAD
EURGBP

Group 3
GBPAUD
GBPNZD
GBPCAD

Group 4
USDJPY
AUDJPY
EURJPY
GBPJPY

Group 5
AUDCAD
AUDNZD
NZDCAD

Group 1 : With stronger USD, we would be buying USD, we look to sell AUDUSD, EURUSD, GBPUSD and NZDUSD, buy USDCAD and USDCHF(which I do not trade any of the CHF pairs). My pick for Week 41 is to buy AUDUSD, NZDUSD and GBPUSD.

Group 2: My pick is to buy EURNZD and EURGBP.

Group 3: My pick is to sell GBPAUD or GBPCAD.

Group 4: My pick is to sell either AUDJPY or GBPJY.

Group 5: My pick is to sell continuation NZDCAD.

Good Trading folks, always trade with Stop Loss and use SMART Money Managmenet with %Risk and Position Sizing.
Do Not over-trade and always manage your Equity.

Trade Well.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #82,366
  • Oct 8, 2017 7:15am Oct 8, 2017 7:15am
Quoting RickM
September was another good month in trading the ME / ME trading Strategy for me. My Equity curve may not be as smooth as I would like but over all I'm gaining more confidence and I have began to develop strategy's to deal with loosing baskets. I am not afraid to trade several pairs in the same group but have Plans B and C ready in case all hell breaks loose. All these details I have entered into my trading plan so I feel all is under control. I well say it has taken me around 9 Months to really feel comfortable with the risks in trading this strategy....

Excellent!

Always manage your Equity and keep that as close as possible to you Balance. This is one way I don't worry when I look at my baskets of open trades. Be prepared to close losing trades in any basket and keep the basket 'alive' to fight on, doing it this way will be less painful than having to close one basket in losses. The game is take small losses otherwise we end up having to take the "mother of all losses".
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #82,367
  • Oct 8, 2017 10:13am Oct 8, 2017 10:13am
Hello everyone,

Do you know the name of this ATR indi... or have it and can share please. Searched all possible names, couldn't find it
Attached Image
  • #82,368
  • Oct 8, 2017 10:57am Oct 8, 2017 10:57am
Quoting emmanuel7788
Week 41 Oct 09 to 13 D1 chart trading: 5 Currency Pair Groups Group 1 AUDUSD EURUSD GBPUSD NZDUSD USDCAD Groups 2 EURAUD EURNZD EURCAD EURGBP Group 3 GBPAUD GBPNZD GBPCAD Group 4 USDJPY AUDJPY EURJPY GBPJPY Group 5 AUDCAD AUDNZD NZDCAD Group 1 : With stronger USD, we would be buying USD, we look to sell AUDUSD, EURUSD, GBPUSD and NZDUSD, buy USDCAD and USDCHF(which I do not trade any of the CHF pairs). My pick for Week 41 is to buy AUDUSD, NZDUSD and GBPUSD. Group 2: My pick is to buy EURNZD and EURGBP. Group 3: My pick is to sell GBPAUD or GBPCAD....
Hi Emmanuel,
Stronger usd means we must sell AUDUSD , NZDUSD AND GBPUSD right?
  • #82,369
  • Oct 8, 2017 11:03am Oct 8, 2017 11:03am
Quoting emmanuel7788
1 : With stronger USD, we would be buying USD, we look to sell AUDUSD, EURUSD, GBPUSD and NZDUSD, buy USDCAD and USDCHF(which I do not trade any of the CHF pairs). My pick for Week 41 is to buy AUDUSD, NZDUSD and GBPUSD..
Was casually loking at this thread which I dont visit often then read this by E and was little perplexed as he is buying and selling same pairs.
Hey you can't be wrong when you are doing both
In trading, you have to be defensive and aggressive at the same time
  • #82,370
  • Oct 8, 2017 3:05pm Oct 8, 2017 3:05pm
Hello ALL,
Longest on FF. I have this thread on my mind always and reading it without login. EMMANUEL7788 is really doing great here. Most of his posts are really valuable. Thank you and God blessings always. Same goes to other contributors here.
Group 1 : With stronger USD, we would be buying USD, we look to sell AUDUSD, EURUSD, GBPUSD and NZDUSD, buy USDCAD and USDCHF(which I do not trade any of the CHF pairs). My pick for Week 41 is to buy AUDUSD, NZDUSD and GBPUSD.

Dear Davit, I adore you as a trader on FF who has got it worked out. From above post, E intention was already know but the latter part as posted below was clearly a typo. I know you are kidding.
My pick for Week 41 is to buy AUDUSD, NZDUSD and GBPUSD. This was clearly a typo. I hopr the good work here continues. Traders helping traders is an awesome spirit. God bless everyone. Peace out.
  • #82,371
  • Oct 8, 2017 3:13pm Oct 8, 2017 3:13pm
LOL it seems, we're gonna have some fun, I missed the good TMS times.
  • #82,372
  • Oct 8, 2017 3:17pm Oct 8, 2017 3:17pm
LOL tut tut typo
It's in fear when people show what they truly value.
  • #82,373
  • Oct 8, 2017 3:40pm Oct 8, 2017 3:40pm
Quoting emmanuel7788
Week 41 Oct 09 to 13 D1 chart trading: 5 Currency Pair Groups Group 1 AUDUSD EURUSD GBPUSD NZDUSD USDCAD Groups 2 EURAUD EURNZD EURCAD EURGBP Group 3 GBPAUD GBPNZD GBPCAD Group 4 USDJPY AUDJPY EURJPY GBPJPY Group 5 AUDCAD AUDNZD NZDCAD Group 1 : With stronger USD, we would be buying USD, we look to sell AUDUSD, EURUSD, GBPUSD and NZDUSD, buy USDCAD and USDCHF(which I do not trade any of the CHF pairs). My pick for Week 41 is to buy AUDUSD, NZDUSD and GBPUSD. Group 2: My pick is to buy EURNZD and EURGBP. Group 3: My pick is to sell GBPAUD or GBPCAD....
Slightly confused over the buy for GBP USD surely you mean sell ????
  • #82,374
  • Oct 8, 2017 4:54pm Oct 8, 2017 4:54pm
It seems to me that so many of you do not get what Emm was saying. He clearly stated that with stronger USD, we are selling AU, GU, EU, NU, and buying UC. Nothing false here. Then he said this week he is planning to buy GU. AU, NU. He meant that this week, the dollar is weak, since NFP was unfavorable.

And Bob44, about GU, he plans to buy it because he expects this pair to bounce back up, as it touched the 50 ema on W1.
  • #82,375
  • Oct 8, 2017 5:19pm Oct 8, 2017 5:19pm
Quoting catalin_eros
It seems to me that so many of you do not get what Emm was saying. He clearly stated that with stronger USD, we are selling AU, GU, EU, NU, and buying UC. Nothing false here. Then he said this week he is planning to buy GU. AU, NU. He meant that this week, the dollar is weak, since NFP was unfavorable. And Bob44, about GU, he plans to buy it because he expects this pair to bounce back up, as it touched the 50 ema on W1.
Thank you . My open trade luckily is sell GBP JPY
  • #82,376
  • Oct 8, 2017 5:33pm Oct 8, 2017 5:33pm
Quoting catalin_eros
It seems to me that so many of you do not get what Emm was saying. He clearly stated that with stronger USD, we are selling AU, GU, EU, NU, and buying UC. Nothing false here. Then he said this week he is planning to buy GU. AU, NU. He meant that this week, the dollar is weak, since NFP was unfavorable. And Bob44, about GU, he plans to buy it because he expects this pair to bounce back up, as it touched the 50 ema on W1.
NFP was not unfavorable! It was actually very bullish Unemployment down and more importantly earnings UP

BY the way I find it foolish to post what one should trade BEFORE even market opens!
Does not matter if it was typo or whatever, you seem to try hard to interpret things in his post when factually is not there.
In trading, you have to be defensive and aggressive at the same time
  • #82,377
  • Oct 8, 2017 6:05pm Oct 8, 2017 6:05pm
Quoting Davit
{quote} Was casually loking at this thread which I dont visit often then read this by E and was little perplexed as he is buying and selling same pairs. Hey you can't be wrong when you are doing both

Davit,

I am not making trade signals call every week in this thread.

Do your own technical analysis when the market is close and do your own trade plan before market opens.

With the previous Week's OHLC, you can calculate will know the next week Pivots and S&R levels to plan your trades. You will know where the R61, R100 to sell and S61, S100 to buy in Week 41 Oct 09 to 13 ahead of time even before the market opens.

Trade Well and always trade with stop loss.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #82,378
  • Oct 8, 2017 6:07pm Oct 8, 2017 6:07pm
Quoting Davit
{quote} NFP was not unfavorable! It was actually very bullish Unemployment down and more importantly earnings UP BY the way I find it foolish to post what one should trade BEFORE even market opens! Does not matter if it was typo or whatever, you seem to try hard to interpret things in his post when factually is not there.
Davit,

only fool thinks this way of others.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #82,379
  • Oct 8, 2017 6:12pm Oct 8, 2017 6:12pm
Quoting Davit
{quote} NFP was not unfavorable! It was actually very bullish Unemployment down and more importantly earnings UP BY the way I find it foolish to post what one should trade BEFORE even market opens! Does not matter if it was typo or whatever, you seem to try hard to interpret things in his post when factually is not there.
It was -33K, much lower than expected. I am not a fundamentals trader, I am actually very weak when it comes to fundamentals. That is why I do not trade them, and I am focused on technicals. But how can -33K be bullish, when the expected outcome was 82K? I am not trying to argue here, just trying to understand, since I know you are a good fundamentals trader.
  • #82,380
  • Oct 8, 2017 6:16pm Oct 8, 2017 6:16pm
Quoting emmanuel7788
{quote} Davit, I am not making trade signals call every week in this thread. Do your own technical analysis when the market is close and do your own trade plan before market opens. With the previous Week's OHLC, you can calculate will know the next week Pivots and S&R levels to plan your trades. You will know where the R61, R100 to sell and S61, S100 to buy in Week 41 Oct 09 to 13 ahead of time even before the market opens. Trade Well and always trade with stop loss.
Where can I find out more about determining these levels?
Thanks
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