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Trading Made Simple

  • #82,661
  • Oct 21, 2017 10:47pm Oct 21, 2017 10:47pm
Quoting kain775
{quote} Trading without a stop loss is not advisable, but it can be done back when I was a frequent member at babypips there was this trader there with his own thread, His earnings averaged 100% - 300% per month verified by myfxbook [worst month was 50%] and he traded without stop loss, he had a 6 figure account stop loss is something i need personally. I could not trade like that, but some people can do it.............

to trade with a 6 figure account, he must have a trading capital of 7 figures.

if anyone who does not know this, he/she should not be trading this retail forex market.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #82,662
  • Oct 21, 2017 11:29pm Oct 21, 2017 11:29pm
More than 18,000 downloads since ... jan 2014,

if you have not read Trading in the Zone by Mark Douglas.

must read chapter 9 and 10 on Beliefs.

https://www.forexfactory.com/showthr...38#post7242738

what are your Beliefs about the Forex Market?

Can you make money with your Beliefs?
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #82,663
  • Oct 22, 2017 2:48am Oct 22, 2017 2:48am
Hi big E, and members

I am a very beginner for this FX. i have read many articles, many sites, more than 4 months i am studying about this. already have a live account but i have many troubles regarding this. first thing when i start to trade all the time market moves completely opposite from the beginning. i want to know wich direction it should be start a trade.
  • #82,664
  • Oct 22, 2017 5:01am Oct 22, 2017 5:01am
Quoting Sesamstrasse
{quote} Today the market closed a huge basket in GN. I was MEME in this pair since beginning September. Build phase from 26.9.-- and played out today. Reason to keep the trade?- My long term outcast.. I did my homework on every fu..ing weekend. enjoy Guido {image} {image}
You nailed it Guido.....fantastic result. All the hard work was worth it :-)
  • #82,665
  • Oct 22, 2017 5:49am Oct 22, 2017 5:49am
Quoting emmanuel7788
{quote} to trade with a 6 figure account, he must have a trading capital of 7 figures. if anyone who does not know this, he/she should not be trading this retail forex market.

I do not know his total bank balance outside of his forex account, ...but I know he was a very aggressive trader any typically risked 5-10% of his account on each trade. I think Big E was aggressive too?

He had his own rules and would trigger his stop loss manually when needed.

He received a 50k investment from an investor early in his trading career, I know he also had family who trade for a living

I managed to see some screenshots too from his photobucket account that he did not publish publically, and there were times I saw he was earning 50k+ a day through multiple trades.
  • #82,666
  • Oct 22, 2017 5:51am Oct 22, 2017 5:51am
Quoting emmanuel7788
More than 18,000 downloads since ... jan 2014, if you have not read Trading in the Zone by Mark Douglas. must read chapter 9 and 10 on Beliefs. https://www.forexfactory.com/showthr...38#post7242738 what are your Beliefs about the Forex Market? Can you make money with your Beliefs?

I downloaded the book last week, but honestly have not had much time to read much of it.

I am currently in the process of re-writing my trading plan though.....
  • #82,667
  • Oct 22, 2017 6:14am Oct 22, 2017 6:14am
Quoting catalin_eros
{quote} Hi, Emm! Would you be so kind and post the GA chart with only those three short orders, please? Thank you!

Hi,

here is the GBPAUD trades charts.

Total 3 trades,
Total lots 0.95
Total pips won = 245pips

If I had broken down the trades into very small lot size using the same risk%,
say 0.05 lot, I can report 1,377 pips in profits for the same amount of risk taken.
or if I used 0.03lot, then the profit in pips wold be 2,295pips.

Showing profit in pip count is very misleading without showing the actual $$$amount.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPAUD Week 42 trades H1 w D1 view.png Size: 53 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #82,668
  • Oct 22, 2017 6:19am Oct 22, 2017 6:19am
Quoting clinton.nada
Hi big E, and members I am a very beginner for this FX. i have read many articles, many sites, more than 4 months i am studying about this. already have a live account but i have many troubles regarding this. first thing when i start to trade all the time market moves completely opposite from the beginning. i want to know wich direction it should be start a trade.

Hi,

In case you do not know, Big E the OP of this thread passed away in 2012.

If you want any comments to your trades, you need to post your trades with charts so that other members here can help you.

As to the direction to take a trade, always pick the direction of the higher timeframe for example the Monthly and Weekly when you want to trade D1 and H4.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #82,669
  • Oct 22, 2017 7:16am Oct 22, 2017 7:16am
Quoting emmanuel7788
{quote} Hi, here is the GBPAUD trades charts. Total 3 trades, Total lots 0.95 Total pips won = 245pips If I had broken down the trades into very small lot size using the same risk%, say 0.05 lot, I can report 1,377 pips in profits for the same amount of risk taken. or if I used 0.03lot, then the profit in pips wold be 2,295pips. Showing profit in pip count is very misleading without showing the actual $$$amount. {image}
I had another reason for asking this, not the number of pips. And the reason was that at the time of your entry, the W1 was above the 10ema, which leads me to believe that you went into GA based on the mechanical system. Plus, if I look at 10 and 50, the W1 was squeezed between them, meaning that you probably wouldn't have entered based on your ema system, but more likely on the mechanical system. Let me know if I got it right or wrong, cause I do not see other explanation for the GA trade.

As always, I appreciate your answers and teachings.
  • #82,670
  • Oct 22, 2017 7:30am Oct 22, 2017 7:30am
Quoting Copernicus
{quote} You nailed it Guido.....fantastic result. All the hard work was worth it :-)
I really appreciate your comment.

Thank you buddy...
Risiko birgt immer auch die Chance.
  • #82,671
  • Oct 22, 2017 7:38am Oct 22, 2017 7:38am
Hi Emmanuel 2 screen shots as promised from my PM
Cheers
Craig
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 20171022_133441.png Size: 117 KB
Click to Enlarge Name: 20171022_133525.png Size: 114 KB
  • #82,672
  • Oct 22, 2017 8:16am Oct 22, 2017 8:16am
Quoting emmanuel7788
{quote} Hi, In case you do not know, Big E the OP of this thread passed away in 2012. If you want any comments to your trades, you need to post your trades with charts so that other members here can help you. As to the direction to take a trade, always pick the direction of the higher timeframe for example the Monthly and Weekly when you want to trade D1 and H4.

Hi emmanuel7788,

of course i never knew that.Here all TDI, Stoch, MA, all crosses this is the recent G/U chart. if you were me then what would you do and why?
i am just 25yrs so all the time i fall emotional. teach me the critical thinking.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot (11).png Size: 106 KB
  • #82,673
  • Oct 22, 2017 10:30am Oct 22, 2017 10:30am
Hi,

a few weeks ago someone in this forum asked if there was a script to copy SR-lines from one chart to another. With such a tool it would be easier to prepare a big picture plan in a separate chart and then import the result into the charts that you use for daily trading.

I created this little script that enables you to export the SR-lines and store them in a file. Next you can import those lines in another chart. This tool is intended to support the proces of creating a Big Picture Plan as often discussed in this forum. If you have suggestions for further improvement then please keep this in mind.

Please Note: This is a first version. So functionality is pretty basic.

Attached File(s)
File Type: ex4 SR-Lines Store v1.00.ex4   14 KB | 341 downloads


How to use:

  1. Install this script in your script folder
  2. When you execute you have to choose if it is to export or import SR-lines
  3. Export:
    It will only export horizontal lines with a name that starts with "BPP:". In this way you can control which lines you like to keep in the export.
  4. Import:
    It will import the SR-lines from the file.

The file will be stored in the Common File Area of MT4. So you can open it from multiple MT4 installations on the same computer. If you are comfortable editing CSV files then you can adjust the file manually if you like.

The stored information per SR-Line:

  1. Symbol
    Normally you should import into a chart of the same symbol.
  2. Timeframe
    In the future it will be possible to set line properties per timeframe.
  3. Price low & high
    These values are the same. Currently only lines are supported. In the future I may add zones.
  4. ADR-Factor
    This is an indication for Expert Advisors on how close they are allowed to trade into a SR-line. In this tool this value is not used.
  5. Color
    The color from the source chart is exported.
  6. LineStyle
    The line-style from the source chart is exported. (currently always 0).
  7. LineWidth
    The line-width from the source chart is exported. (currently always 0).
  8. Name
    This name will be used during import.

Feel free to suggest improvements.
Cheers!

  • #82,674
  • Oct 22, 2017 12:40pm Oct 22, 2017 12:40pm
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....
Emmanuel, what's is your analysis for your pair groups this week 43? Would like to compare how I did it. Thanks!
  • #82,675
  • Edited 5:16pm Oct 22, 2017 4:43pm | Edited 5:16pm
Hi I have some doubts about the ME / ME money management strategy.

1. If we divided our risk (1%) into 5 different trades, each with a 0.2% risk, it means that each trade has a different stop-loss based on the ATR (volatility) or all the trades of the basket have the same stop loss (cut losses?) ?
2. When we take profit and re-enter in the market, the new stop losses are always based on the ATR (volatility)?
3. When we re-enter, each trade is always 0.2% of the risk?
4. When we take profit and re-enter in the market, the Hard stop loss is always the same?
5. What is the difference between cut losses and hard stop?
6. When do we stop opening new basket of trades?

Thank you.

P.S. I've searched in the posts of the past but I did not find clear answers to these questions
  • #82,676
  • Oct 22, 2017 6:51pm Oct 22, 2017 6:51pm
Quoting clinton.nada
{quote} Hi emmanuel7788, of course i never knew that.Here all TDI, Stoch, MA, all crosses this is the recent G/U chart. if you were me then what would you do and why? i am just 25yrs so all the time i fall emotional. teach me the critical thinking. {image}
Read the first 10 pages of the thread, particularly big E's posts. This is the fastest way for you to start earning money.
  • #82,677
  • Oct 22, 2017 7:05pm Oct 22, 2017 7:05pm
Quoting clinton.nada
Hi big E, and members I am a very beginner for this FX. i have read many articles, many sites, more than 4 months i am studying about this. already have a live account but i have many troubles regarding this. first thing when i start to trade all the time market moves completely opposite from the beginning. i want to know wich direction it should be start a trade.
Quoting clinton.nada
{quote} Hi emmanuel7788, of course i never knew that.Here all TDI, Stoch, MA, all crosses this is the recent G/U chart. if you were me then what would you do and why? i am just 25yrs so all the time i fall emotional. teach me the critical thinking. {image}
With less than one year trading experience, you have a very long way to go before you can start trading with real money. making money is another story because it wont be that easy as it looks. sounds. To make money out of this fores market, you need much more than just the trading method.

You should start the way the OP did back in 2008 when he was a newbie forex trader. Learn how he traded with the Synergy trading model and the Stochastics method back in 2008. Learn from what he did between 2008 and 2010.

I think to read all the 80k posts in this thread will take very long time and to get started trading with TMS 5-Method.

You can have three options:
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
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #82,678
  • Oct 22, 2017 7:22pm Oct 22, 2017 7:22pm
Quoting catalin_eros
{quote} I had another reason for asking this, not the number of pips. And the reason was that at the time of your entry, the W1 was above the 10ema, which leads me to believe that you went into GA based on the mechanical system. Plus, if I look at 10 and 50, the W1 was squeezed between them, meaning that you probably wouldn't have entered based on your ema system, but more likely on the mechanical system. Let me know if I got it right or wrong, cause I do not see other explanation for the GA trade. As always, I appreciate your answers and teachings....

1) do not worry too much about those moving averages 10EMA, 50EMA, 200EMA, ... because all moving averages are derived from the price. Market price do not stop at any moving average at the very pip. For some pairs like GBPAUD, price can move past the moving average 50 to 100 pips, other even much larger.

2) look at the price action . What did you see on D1? consolidation then breakout. Look at previous price bars/candlesticks. Do you see Inside Bar/Candles?
Also do you see the significant of flat end candles where the Close and Low or the Close and High price are the same.

3) those EMAs are there whether traders use them or not. Use them to see the herd behaviour and also systems that uses those EMAs. What is most important for me is look at my Big Picture Plan and the market condition which determine the market type I am trading in. Look at CONFLUENCE of various support and resistance typically what most systems traders. Many trading systems are build on using moving averages, and in fact the simplest stock trading systems uses only moving averages with contract volume. Too bad the spot forex market has not contract volume.

4) you can use the mechanical entry and exit approach using only the HA candles, PAC and the TDI Moderate mode. The win rate for Single Entry/Single Exit using this approach is between 45% and 55% for all the 19 pairs I trade. This win rate may not attract people but the Expectancy is very good when you trade with MEME.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #82,679
  • Oct 22, 2017 7:34pm Oct 22, 2017 7:34pm
Quoting chrrmfbvk
{quote} Emmanuel, what's is your analysis for your pair groups this week 43? Would like to compare how I did it. Thanks!

This week would be simple.
Just look at D1 charts and pick those pairs that are trading into "empty space" either above or below.
"Empty space" means there must be no previous months high above or below for the past two months at minimum.
This is the first visual eyeball check I use every weekend trade planning before I zoom into the details of top down analysis and doing my Big Picture Plan.

Example below:
Kiwi fell below its Sep and August low empty space ....
if anyone missed this, learn from this.

Attached Image (click to enlarge)
Click to Enlarge Name: NZDUSD Oct empty space.png Size: 62 KB


USDCHF pair which I don't trade,

Attached Image (click to enlarge)
Click to Enlarge Name: USDCHF empty space Oct.png Size: 60 KB


this is just one of many ways how I keep things simple and make money.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #82,680
  • Oct 22, 2017 8:02pm Oct 22, 2017 8:02pm
Quoting irishcraig09
Hi Emmanuel 2 screen shots as promised from my PM Cheers Craig {image} {image}

For single entry single exit SE/SE traders, the game was over last Friday for GBPAUD. Take the loss and walk away.

All the Kiwi buyers were slaughtered last week when post-elections final results who form the next Government was decided.
In hindsight 20:20, what did you learn from all the NZD pairs charts in the past 12 weeks/3months, leading to the elections and the post-elections last week?

This is something which Position traders trading TMS on D1 chart must do. Do Post-Mortem POMO analysis and learn from it.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
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