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Trading Made Simple

  • #82,821
  • Oct 27, 2017 3:19pm Oct 27, 2017 3:19pm
Quoting emmanuel7788
{quote} I was wrong about 'big'... its was huge 200pips move LOL
Did you anticipated Draghi's speech results? Are you pals or something? Or on what was your entry based? Because technicals did not look that good to me. Maybe you can explain, as I have already said that W1 was printing small candles, the 8th of October candle printed a HH/HL, and the last two weeks were an IB, and the low of the IB hadn't been broken at the time you entered short.

My second question is if you cut losses when D1 printed candles with HHs/HLs, or if you stayed in, because the W1 did not make a HH/HL (therefore, no sign of buyers).

Thanks, Emm!
  • #82,822
  • Oct 27, 2017 6:13pm Oct 27, 2017 6:13pm
Quoting catalin_eros
{quote} Did you anticipated Draghi's speech results? Are you pals or something? Or on what was your entry based? Because technicals did not look that good to me. Maybe you can explain, as I have already said that W1 was printing small candles, the 8th of October candle printed a HH/HL, and the last two weeks were an IB, and the low of the IB hadn't been broken at the time you entered short. My second question is if you cut losses when D1 printed candles with HHs/HLs, or if you stayed in, because the W1 did not make a HH/HL (therefore,...

who is Draghi? Speech, what did he say? LOL

I simply trade what I see and I listen to the "little bird" that sings everyday.

Be discipline, trade what you see. Without discipline you will not achieve CONSISTENT results. CONSISTENT results is what you must achieve and maintain over a period of 3 to 5 years otherwise with 1 ~ 2 months of losses can cause you to lose your whole year profits which you build up. Some people lost their life savings , some lose the house they live in, their wife, their family, everything they once owned.
In the past 10 years I have seen people ruin their lives because they gamble when they were trading forex.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #82,823
  • Oct 27, 2017 6:41pm Oct 27, 2017 6:41pm
Quoting Jordi
Hi, I'm done for the week. I'm very happy with the results ( almost 1%), considering I only have been trading 3 pairs ( only one on Monday, and 2 Tuesday, 3 from Wednesday to today). I've realized that a 5000$ account is a bit little for this kind of trading, even with microlots. This week, I've been trading manually, next week I would like to trade with some kind of EA. I would like to try it with the MPTM EA, but it looks like Steve doesn't accept more members in his web, so I can not download his new version. Can somebody upload the EA? or another...

With $5000 account deposit and leverage 1:50, I trade only one currency pair and grow that to $10,000.
At $10,000, you then can trade 2 currency pairs.
Grow that account gradually to $25,000 and you will then be able to trade 5 pairs at the same time.
By the time you have $25,000 in your trading account and trading 5 pairs with the account growth can be exponential but you must have the DISCIPLINE and maintain CONSISTENCY in trading with MEME. This is the biggest challenge for most traders. There is a lot of work that need to be done.

Use Steve Hopwood' MPTM as your trade manager and use scripts to place the ME orders. This will save you a lot of screen time.
THV CaveManager cannot manage multiple trades on one chart.

I have used MPTM for years and you really need to do a lot of trades and learn ow this EA work. It is a monster EA and you have to tame this monster.

BTW, I just read your PM and I'll reply you this weekend.


Have a Good Weekend,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #82,824
  • Oct 27, 2017 6:45pm Oct 27, 2017 6:45pm
Quoting nigpig
I'm feeling quite pleased that I'm finally making sense and good decisions for entry/exit. My first week with MEME ending in a profit. {image} No trades left open.

Good results for 5 days trading.

But did you over traded so many pairs in one week? only you can answer that.

This week I scaled down my trading as it is near month end and I have year end vacation soon.

Five trading days, small amount of profit in this account.

Attached Image (click to enlarge)
Click to Enlarge Name: Trades closed Week 43 Oct 23 to 27.png Size: 15 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #82,825
  • Oct 27, 2017 8:04pm Oct 27, 2017 8:04pm
Quoting Giannis95
Emmanuel, your posts are always a source of help and inspiration and a reason for improvement. Thank you. I have some questions and I hope you know how to answer. {quote} When price retrace what should we use to calculate the next ME position? 1. Account Balance (value before opening any trade) or 2. Core Equity = Account Balance - Amount used in Open Positions or 3. Total Equity...
All these questions are good but the answers were in my posts made between 2015 and 2017. Some people reading my posts and taken notes of what I wrote and on my post charts will have these answers already. The same people went on and wrote ( still writing) their own trading manual and do their own system development.

Here is another summary to answer your questions.

1. Use allocated amount of trading capital for trading each currency pair. Deposit that allocated amount into your broker trading account. The account deposit is your %Risk. If you risk 1%~2% for each currency pair and you want to trade 5 pairs in one same account, then deposit 10% into your trading account.

2. Technical stop loss is use for Position Sizing. If there setup is reversal then the last swing high or swing low should be the technical stop loss. But if the trade is a continuation setup, use 2 bars look back. Technical stop loss is not hard stop loss in your broker terminal. If you are running trades in a remote computer like using a VPS, you can lose connection to your VPS or your VPS can lose connection to your broker platform, so for safety reasons I use a hard stop loss in all trades. This hard stop loss will save you from losing more than what you have in your trading account.

3. As your trades progresses, you add new baskets of trades following the same rule 1) above.
It is always %Risk and Position Sizing. This is why when you see my Trade Report form the past months, a few trades have negative pips but the profits in $money is positive. Remember is is always a basket of trades not just one trade. With a basket of trades, you manage the Average Entry Price. You must not allow your trading account to be in floating Drawdowns for extended period of time like Weeks and Months. Holding onto trades in floating losses and waiting for the market to turn around is what gambler trader do. You let your trading capital be locked in the market when you could have cut losses short and use your trading capital for profitable trades.

4. Minimum Take Profit and Profit Lock apply to every trade/position and every basket. Not necessarily only when you have 2 or more open positions. It can be only one position like EURUSD trade yesterday, there was no retracement for you to add a second ME position. You either have taken 0.5ADR 40pips profit when price moved lower or you have locked 40pips profit and later got kicked out when the price retraced to that +40pips level.
But the next scenario can be if you had taken +40pips and re-open a new position to initiate a new basket, what is your trade situation when the NY session closed?

Which work better? Minimum Take Profit or Profit Lock?

In many of my posts, I did mention, for those trading with small accounts like a $500 account deposit and the smallest lot size is 0.01lot. Can you do Position Sizing with technical stop loss? What would you do? Answer are in my posts. Also a live account was posted before showing how I traded a $500 account for one member to show him that he can still make some money with that small account. Do I need to do this again? I can open another kedging account (not hedging, its kedging).

This is the Power of MEME with Position Sizing, which is just small part of the WINNING EDGE in a WINNING SYSTEM. I model my 3 trading systems using Think Tharp Trading Concepts and following the mental strategies coached by Dr Brett Steenbarger and Dr Van Tharp, both are well known professionals in psychology and are also investors/traders/authors.

... more,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #82,826
  • Oct 27, 2017 8:13pm Oct 27, 2017 8:13pm
Quoting tomgu
{quote} Hi, Emma, can you please write a detailed PDF to how to MEME. As I found it is ranging market, due to the end of year. I have seen you add Lock function etc, it is new stuff. Just demo a pair, step by step. How to build positions, how to exit step by step. I have a lock profit EA, I wanna share if you permit.

I think a few members already compiled my posts and made that pdf summary.
usually they add their own notes and make their own trading manual.
Several members did sent me their pdf/manual for 'proof reading' and feedback but these are private materials and I cannot share them in public forums.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #82,827
  • Edited 8:32pm Oct 27, 2017 8:20pm | Edited 8:32pm
Quoting jkay7214
{quote} Hi Emmanuel Could you pls explain a little bit more on the gap at 0.8720 {image}

EURGBP story

the price gap is between June 9 Close and June 12 Open . Different brokers will show different gaps. If you trade with Oanda, you will see what their price gap was than weekend.

One member posted in the week of June 13 that he sold EG, updated ... he sold for many months and waiting for 0.8500 to take profit.

Look at your charts now, how many weeks and months of floating losses since June 13 till this week 43 Oct 23 -28?

Edit: A picture is worth one thousand words.

Attached Image (click to enlarge)
Click to Enlarge Name: EURGBP sell sell sell.png Size: 44 KB


Picture B by Big E is what an artist sees.

Attached Image (click to enlarge)
Click to Enlarge Name: Market_trends and picking tops and bottoms.jpg Size: 99 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #82,828
  • Oct 27, 2017 9:30pm Oct 27, 2017 9:30pm
Do I need to do this again? I can open another kedging account (not hedging, its kedging).
Yes, We do. As most guys here are confusing and not big account holder, they need a live show how to finish a complete 20 days cycle of MEME. Just one pair please. May increase the leverage to normal one 1:400? Appreciated

Thanks.
  • #82,829
  • Oct 27, 2017 9:53pm Oct 27, 2017 9:53pm
Quoting tomgu
Do I need to do this again? I can open another kedging account (not hedging, its kedging). Yes, We do. As most guys here are confusing and not big account holder, they need a live show how to finish a complete 20 days cycle of MEME. Just one pair please. May increase the leverage to normal one 1:400? Appreciated Thanks.

Let's see how many more members want to see a live account trading with TMS MEME.
If it is only you, I can simply give your my account investor password and you can login into my live account and follow live trades in realtime. But you must agree to a simple NDA with me.

I have a small problem with leverage 1:400. My current broker only allow me 1:50 and they will reduce it to 1:25 in Jan 2018.
I have to consider another broker who can offer me 1:100 or 1:200. Let me talk to the account manager.

You do your weekly top down analysis post your Big Picture Plan. I review your BPP and we make a trade plan with TMS MEME, is this okay? You pick any currency pair and I will confirm.

NDA = Non-Disclosure Agreement.

Now folks, tell me who else wants to see a live account running TMS MEME.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #82,830
  • Oct 27, 2017 10:11pm Oct 27, 2017 10:11pm
Quoting emmanuel7788
{quote}I can open another kedging account (not hedging, its kedging).
Hey buddy.

I'm interested too
  • #82,831
  • Oct 27, 2017 10:39pm Oct 27, 2017 10:39pm
Quoting ReverseFlash
{quote} Hey buddy. I'm interested too

Good,

that makes 2 so far:

members:
tomgu
ReverseFlash

...counting
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #82,832
  • Oct 27, 2017 10:40pm Oct 27, 2017 10:40pm
Quoting emmanuel7788
{quote} Good, that makes 2 so far: members: tomgu ReverseFlash ...counting
Me too
  • #82,833
  • Oct 27, 2017 11:32pm Oct 27, 2017 11:32pm
Quoting emmanuel7788
{quote} Good, that makes 2 so far: members: tomgu ReverseFlash ...counting
Hi Emmanuel,

I would love to see a live trading account trading TMS MEME
  • #82,834
  • Oct 28, 2017 12:16am Oct 28, 2017 12:16am
{quote} Good, that makes 2 so far: members: tomgu ReverseFlash ...counting
Emmanuel,

I'm in.

Frank
  • #82,835
  • Oct 28, 2017 1:15am Oct 28, 2017 1:15am
Quoting emmanuel7788
{quote} Let's see how many more members want to see a live account trading with TMS MEME. If it is only you, I can simply give your my account investor password and you can login into my live account and follow live trades in realtime. But you must agree to a simple NDA with me. I have a small problem with leverage 1:400. My current broker only allow me 1:50 and they will reduce it to 1:25 in Jan 2018. I have to consider another broker who can offer me 1:100 or 1:200. Let me talk to the account manager. You do your weekly top down analysis post...
Count me in
  • #82,836
  • Oct 28, 2017 1:47am Oct 28, 2017 1:47am
count me also.I want to implement MEME along with pac + tdi system described by emmanuel.
  • #82,837
  • Oct 28, 2017 2:03am Oct 28, 2017 2:03am
Quoting emmanuel7788
{quote} Good, that makes 2 so far: members: tomgu ReverseFlash ...counting
Me too
Thanks
  • #82,838
  • Oct 28, 2017 2:34am Oct 28, 2017 2:34am
Quoting emmanuel7788
{quote} Let's see how many more members want to see a live account trading with TMS MEME. If it is only you, I can simply give your my account investor password and you can login into my live account and follow live trades in realtime. But you must agree to a simple NDA with me. I have a small problem with leverage 1:400. My current broker only allow me 1:50 and they will reduce it to 1:25 in Jan 2018. I have to consider another broker who can offer me 1:100 or 1:200. Let me talk to the account manager. You do your weekly top down analysis post...
HI Emm,

I'm interested too!

regards
  • #82,839
  • Oct 28, 2017 2:37am Oct 28, 2017 2:37am
Quoting emmanuel7788
{quote} Let's see how many more members want to see a live account trading with TMS MEME. If it is only you, I can simply give your my account investor password and you can login into my live account and follow live trades in realtime. But you must agree to a simple NDA with me. I have a small problem with leverage 1:400. My current broker only allow me 1:50 and they will reduce it to 1:25 in Jan 2018. I have to consider another broker who can offer me 1:100 or 1:200. Let me talk to the account manager. You do your weekly top down analysis post...
Count me in also to see live account. Thanks in advance.

Just getting started with TMS properly after being pure PA.
EX BBMA trader focusing on REE code.
  • #82,840
  • Edited 5:58am Oct 28, 2017 2:52am | Edited 5:58am
Hi Emmanuel7788
Hi made two indicators .
MMM-Trends draws trends lines of different Period Chart like your illustration.
AverageIndexHA draws PAC line of different Period Chart and one Moving Average calculated on HA. (I made also an Ea based on last one and works very well)
The first one works only if AverageIndexHA is present.

regards

UPDATE...Sorry i uploaded new version of MMM-Trends ...it contained an error.
Attached Image (click to enlarge)
Click to Enlarge Name: Image1.jpeg Size: 99 KB
Attached File(s)
File Type: ex4 AverageIndexHA.ex4   15 KB | 394 downloads
File Type: ex4 MMM-Trends.ex4   10 KB | 421 downloads
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