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Trading Made Simple

  • #82,741
  • Oct 25, 2017 2:04am Oct 25, 2017 2:04am
New Here. Found this TMS just 2 weeks. And start to reading, taking notes. Will look back again. Just want to say thank you everyone here today. Really enjoy this.

Best.
  • #82,742
  • Oct 25, 2017 2:38am Oct 25, 2017 2:38am
Quoting okoso
{quote} Hi Emmanuel, I went short on GA last Thursday and that trade ended up a losing one. So I was making some POMO analysis. I knew there was a support around 1,67 but I thought that was broken as last Thursday candle closed below 1,67 at 1.6697 to be precise. But last Friday candle reversed and ended up a BUEB which resulted into a bullish pin bar on W1. 4 hours passed since your post and at the moment price is trading above W1 50 EMA because of probably weaker than expected quarterly CPI. If I traded long based on last week's bullish pin bar,...

Good POMO analysis. We cna leanr a lot by doing such POMO analysis, its like back-testing and often see things which we do not see when we are in the trades and formed recency bias in our brains.

Than Week 39 Sep 18 - 22 W1 candle is very interesting Doji like candle. Not the best looking WCC by definition but it is significant. Looks like price has been pivoting above and below this Doji for few weeks. Both Weekly and Monthly are sideways in very large range trading. We can possibly but low or sell high.

Today price has rallied to above 1.7000 and I am waiting to see what happens between 1.7000 and 1.7050. Its a minefield which has to be cleared. If there is any sell opportunities.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #82,743
  • Oct 25, 2017 2:46am Oct 25, 2017 2:46am
Quoting catalin_eros
{quote} EU sell? Hm, maybe you meant NU? I just do not see it on EU (last two days small candles, no LL, very close to S area, and last W1 was an IB, therefore we assume it is ranging market, until a break out).

Yes. Looking to sell EU today.

You are right about those small D1 candles.... they can grow big ...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #82,744
  • Oct 25, 2017 4:15am Oct 25, 2017 4:15am
Quoting emmanuel7788
Trading with Moving Averages - many trading systems are based on price action and moving averages. Looking at GBPAUD this week, we see the price action is in the proximity of the 10EMA and 50EMA in different timeframe charts D1 chart traders will find it hard to sell when the PA is above its 10EMA. H4 traders may think PA is trapped between 10 and 50 EMAs. W1 also shows PA 'trapped' between 10 and 50 EMAs. In such situation, what will you based on trade decision today? {image}
Hi Emmanuel, maybe this is not the correct answer, but I think that if the picture, the situation, is not clear, the best option is to choose another pair.

By another hand, I'm slowly progressing with MEME trading. I started the week only with GBPUSD, then I added EURUSD, and today USDCAD. Anyway, I don't closed any trade yet. I'm planning to add more pairs next week, up to 6.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: USDCADH1.png Size: 55 KB
Click to Enlarge Name: EURUSDH1.png Size: 63 KB
  • #82,745
  • Oct 25, 2017 4:37am Oct 25, 2017 4:37am
Quoting irishcraig09
{quote} Hi forexrocks If you go to the attachment page you can download a PDF called Money Management Strategy ideas from Emmanuel which may help you. There is also links to different post explaining stuff. Hope this helps you out, Cheers Craig
thank you sir!
Always be humble, and Stay Vigilant
  • #82,746
  • Oct 25, 2017 6:08am Oct 25, 2017 6:08am
Quoting Jordi
{quote} Hi Emmanuel, maybe this is not the correct answer, but I think that if the picture, the situation, is not clear, the best option is to choose another pair. By another hand, I'm slowly progressing with MEME trading. I started the week only with GBPUSD, then I added EURUSD, and today USDCAD. Anyway, I don't closed any trade yet. I'm planning to add more pairs next week, up to 6. {image} {image}

Very good!

When you trade several USD majors in one same account, you must take into consideration that these pairs are either correlated or inverse correlated.
When one pairs goes wrong then you can have 2 or 3 pairs going wrong.
I usually pick only one pair from this USD major group.

When you use lot size increment you must take care of the margin requirements when total 5 trades are open. Manage the Equity and Margin Level.
Make sure you keep track of the average entry entry price of all open positions and whenever possible try breakeven some positions and let the largest position run with Minimum Profit Lock. This is one way to keep your Equity and Margin Level healthy.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #82,747
  • Oct 25, 2017 6:24am Oct 25, 2017 6:24am
Quoting emmanuel7788
{quote} Very good! When you trade several USD majors in one same account, you must take into consideration that these pairs are either correlated or inverse correlated. When one pairs goes wrong then you can have 2 or 3 pairs going wrong. I usually pick only one pair from this USD major group. When you use lot size increment you must take care of the margin requirements when total 5 trades are open. Manage the Equity and Margin Level. Make sure you keep track of the average entry entry price of all open positions and whenever possible try breakeven...
very important aspect in trading .. and good of you to remind folks.
It's in fear when people show what they truly value.
  • #82,748
  • Oct 25, 2017 6:25am Oct 25, 2017 6:25am
Quoting chrrmfbvk
{quote} In an earlier post about Big Trade Planning, you talked about empty space. What is the significance of this "empty space"? That the trend will continue for longer due to a lack of S or R stopping the trend?

On your Daily chart, you can zoom out and see the Monthly price action, right?

Seeing empty space to the left means you do not see any previous price action in the previous month which means there is not recent support or resistance. I usually look for 2 to 3 months of empty space and this is an indication of the monthy trend.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #82,749
  • Oct 25, 2017 6:43am Oct 25, 2017 6:43am
Quoting emmanuel7788
Oct 25 Wednesday I see a few mid-week opportunities on D1 chart AUDUSD - sell EURUSD - sell GBPUSD - sell USDCAD - buy USDCHF - buy EURAUD - buy EURCAD - buy EURNZD - buy USDJPY - buy EURJPY - buy AUDNZD - buy AUDCAD - buy NZDCAD - sell Determine where your initial Stop Loss for every trade setup condition,use your own Money Management with %Risk and do your trade Position Size. Do Not overtrade and get out of your trade(s) take the losses when you are wrong.
Hi Emmanuel
I caught the AUDUSD last night. I wasn't sure in taken it as looking back there was some S/R I see there was some around the 6/10/2017 and 15/3/2017. My question is if everything stacks up PAC, HA candle, TDI but we have S/R do we still take the trade as this could be a breakout. Sorry for the amateur question.
Craig
  • #82,750
  • Oct 25, 2017 6:57am Oct 25, 2017 6:57am
Quoting irishcraig09
{quote} Hi Emmanuel I caught the AUDUSD last night. I wasn't sure in taken it as looking back there was some S/R I see there was some around the 6/10/2017 and 15/3/2017. My question is if everything stacks up PAC, HA candle, TDI but we have S/R do we still take the trade as this could be a breakout. Sorry for the amateur question. Craig

Today's AUDUSD was a news driven trade but we followed the HA, PAC and TDI trading rules on D1 chart.
There was support to the left which is the current MN low but the empty space seen in September and August months that I talked about often on D1 chart is also there and with the TDI MBL sloping in the right direction, it should give us some confidence to take the sell setup when Sydney/Tokyo open .

Today has been a good trading day and take one trade per group. 4 winners and 1 loser is good result.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #82,751
  • Oct 25, 2017 7:06am Oct 25, 2017 7:06am
Quoting jkay7214
{quote} Hi Emmanuel, Strats method uses 20 50 100 and also 63 EMA which is different from what we in TMS use. Pls explain the difference in MA approach.

Hi.

I tried to type my reply but having some problems with explorer. It going to be a long reply so I will try again this weekend.
I feel it it important that TMS traders knows what I learned from strat's PASR and what I use and apply to TMS trading.

Meantime, you should read this Post # 20,265 in strat's old thread and you will understand why some of my trades posted looks like counter-TMS trades and I traded against the TMS 'trend' and still make money using ME/ME.

https://www.forexfactory.com/showthr...03#post8150603
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #82,752
  • Oct 25, 2017 7:09am Oct 25, 2017 7:09am
Quoting emmanuel7788
{quote} Yes. Looking to sell EU today. You are right about those small D1 candles.... they can grow big ...
Hm, I just cannot see it, Emm. Would you be so kind and explain your decision to sell? I have already explained why I see wrong in shorting EU. The pro that I see would be that we had an Arjun candle on D1. Is that your reason to sell EU today?
  • #82,753
  • Oct 25, 2017 10:20am Oct 25, 2017 10:20am
Excellent trading week!!!

I used the three mechanical rules on thé daily chart .... All going very well.

EUR/aud
EUR/jpy
Usd/cad

Very happy.... Good day To all
  • #82,754
  • Oct 25, 2017 11:28am Oct 25, 2017 11:28am
Hi Emmanuel, first, thank you very much for your comments. Taking advantage of I have closed my position on usdcad, I've changed it for audjpy, so now I'm less exposed to the usd. So now, I have trades open with these pairs; GBPUSD; EURUSD; AUDJPY. Next week, I'm planning to trade up to 6 uncorrelated pairs.
Attached Image (click to enlarge)
Click to Enlarge Name: AUDJPYDaily.png Size: 72 KB
  • #82,755
  • Oct 25, 2017 1:45pm Oct 25, 2017 1:45pm
Quoting irishcraig09
https://www.forexfactory.com/showthr...53#post7968153 There is a little bit about me/me It maybe a starting point to help you out Cheers Craig
Thanks much!
  • #82,756
  • Oct 25, 2017 2:02pm Oct 25, 2017 2:02pm
Quoting emmanuel7788
{quote} Well, I was banned from his thread long time ago until 2 weeks ago for unknown reason I managed to post in that thread. I posted a few question about his trades history, etc. immediately he banned me again. Obviously he did not like my questions which could have expose his deeds. He will continue to use his thread and criticise me and I will not have the freedom to post to reply him there. But he can still come here and post whatever he wants. Patience .... I think member TheMark did make...
Hi Emm. It is unfortunate that you post links to a thread where the OP had his membership pulled. Doesn't do much for the credibility of the argument.
If you are good at something, never do it for free--Joker
  • #82,757
  • Oct 25, 2017 5:55pm Oct 25, 2017 5:55pm
USDJPY Week 43 Oct 26

UJ struggles and had not closed above 140.00 for 3 days.
But it did make a push to a higher high on H4 and we still need to wait to see if there is any sell opportunity.

Those who sold at average price 125.50 ~125.75 remains in huge DD and still pray and hope for UJ to drop to 125.00. Should have cut your losses because there were better pairs to trade this week.
Do Not let your hard earned money be locked in floating DD.
Make your hard earned money work harder for you.
Cut Loss to free up your trading capital and invest your trades in other pairs.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #82,758
  • Oct 25, 2017 6:04pm Oct 25, 2017 6:04pm
quote=emmanuel7788;10427353]USDJPY Week 43 Oct 26 UJ struggles and had not closed above 140.00 for 3 days. But it did make a push to a higher high on H4 and we still need to wait to see if there is any sell opportunity. Those who sold at average price 125.50 ~125.75 remains in huge DD and still pray and hope for UJ to drop to 125.00. Should have cut your losses because there were better pairs to trade this week. Do Not let your hard earned money be locked in floating DD. Make your hard earned money work harder for you. Cut Loss to free up your trading capital and invest your trades in other pairs.[/quote]
ButU/J=@113,65 at the Moment...;-)
  • #82,759
  • Oct 25, 2017 6:23pm Oct 25, 2017 6:23pm
Quoting jmn5611
{quote} Hi Emm. It is unfortunate that you post links to a thread where the OP had his membership pulled. Doesn't do much for the credibility of the argument.

Hi,

I think TheMark's membership was revoked by Forex Factory do have zero tolerance for certain online behaviour.
However, I read his thread post which title caught my attention "Pivot Trading with TDI" & Thinking Outside The Box

Thinking out of the box is what I encourage people to do all the time. Be open minded and accept criticism, and be open for robust discussions. I do agree with most of the points TheMark made in the context.

Over the past 20 years, I have studied many trading systems using different version of pivots indicators and trade very differently. Therefore such claims renaming a plain old Fibonacci pivots to another name will not create a technical edge. A lot of claims and disclaimers statements posted which are mostly misleading newbies especially the innocent ones. I see dubious trades posted and the duration of account floating drawdowns over very long periods of weeks and then when price returns to favourable level everything get concealed by posting a M15 charts which only shows trade levels at those near by levels.
Anyway, that's the work of a chartist.


regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #82,760
  • Oct 25, 2017 6:28pm Oct 25, 2017 6:28pm
Quoting zackery
quote=emmanuel7788;10427353]USDJPY Week 43 Oct 26 UJ struggles and had not closed above 140.00 for 3 days. But it did make a push to a higher high on H4 and we still need to wait to see if there is any sell opportunity. Those who sold at average price 125.50 ~125.75 remains in huge DD and still pray and hope for UJ to drop to 125.00. Should have cut your losses because there were better pairs to trade this week. Do Not let your hard earned money be locked in floating DD. Make your hard earned money work harder for you. Cut Loss to free up your trading...
ButU/J=@113,65 at the Moment...;-)[/quote]


Yes and for TMS traders, the PA is still above the PAC on the Daily.
Also very difficult to pick H4 and H1 trades with the choppy prices.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
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