Attachments: Trading Made Simple

Trading Made Simple

#83,121
Nov 4, 2017 8:56pm Nov 4, 2017 8:56pm

DeepChill
| Joined Oct 2017 | Status: Trader | 27 Posts

Quoting emmanuel7788

Disliked

{quote}Five fundamental truths: 1. Anything can happen. 2. You don’t need to know what is going to happen next in order to make money. 3. There is a random distribution between wins and losses for any given set of variables that define an edge. 4. An edge is nothing more than an indication of a higher probability of one thing happening over another. 5. Every moment in the market is unique. – Mark Douglas

Ignored

Mark Douglas is a failed trader, please stop quoting him.

#83,122
Nov 4, 2017 9:07pm Nov 4, 2017 9:07pm

emmanuel7788
Joined Nov 2008 | Status: Trader | 50,193 Posts

Quoting DeepChill

Disliked

{quote} Mark Douglas is a failed trader, please stop quoting him.

Ignored

Hi,

Your are right. I read that somewhere.
That is why I said those famous quotations taken from his books are DISCLAIMERS when people fail to make money.
Like many great book authors on investing and trading, many failed to make money in long term. Even the great turtles traders failed at some point.

Honesty is a very expensive gift. You wont find it in cheap people.WBuffett

#83,123
Nov 4, 2017 9:16pm Nov 4, 2017 9:16pm

blueman
| Joined Jan 2010 | Status: Trader | 181 Posts

Quoting emmanuel7788

Disliked

Hey Folks, its weekend and good time for some reading ... but first, it is priority time with family and loved ones. BEING RIGHT and MAKING MONEY are two very different things. Read this [click to download]

Ignored

van very smart and great man and his wife so kind and smiley.

emmanuel you are doing an amazing work to help everyone! Thanks and enjoy your vacation

#83,124
Nov 4, 2017 9:43pm Nov 4, 2017 9:43pm

emmanuel7788
Joined Nov 2008 | Status: Trader | 50,193 Posts

Quoting blueman

Disliked

{quote} van very smart and great man and his wife so kind and smiley. emmanuel you are doing an amazing work to help everyone! Thanks and enjoy your vacation

Ignored

Yup, agree that Van is great person with high intellect and lots of experience in his field. He is a psychologist, investor and trader, all-in-one AIO which make it very important when we pick our mentor.
Van's wife is really very nice woman, they two make a great couple. She is an artist too and has her own studio.

Honesty is a very expensive gift. You wont find it in cheap people.WBuffett

#83,125
Nov 5, 2017 1:48am Nov 5, 2017 1:48am

Sun10
| Joined Oct 2017 | Status: Trader | 8 Posts

Hi,

Can some one help me to add Indicator on MT5 Platform.

I have downloaded some external Indicator on MT5 Platform but i am not able to use this on chart.

it's shown in the Indicator folder but not on the chart in custom folder.

Thanks

#83,126
Nov 5, 2017 3:58am Nov 5, 2017 3:58am

sabbah
| Joined Jun 2013 | Status: Trader | 64 Posts

Quoting emmanuel7788

Disliked

Hey Folks, its weekend and good time for some reading ... but first, it is priority time with family and loved ones. BEING RIGHT and MAKING MONEY are two very different things. Read this [click to download]

Ignored

Very nice read. Thank for sharing it.

#83,127
Nov 5, 2017 4:07am Nov 5, 2017 4:07am

ItaTrader93
| Joined Sep 2015 | Status: Flow follower | 262 Posts

About Mark Douglas, i wasn't aware he passed away 2 years ago.

It's not over, until I win.

#83,128
Nov 5, 2017 4:11am Nov 5, 2017 4:11am

emmanuel7788
Joined Nov 2008 | Status: Trader | 50,193 Posts

Quoting emmanuel7788

Disliked

{quote} TMS MEME Live trading account, so far the following members replied: ...

Ignored

Honesty is a very expensive gift. You wont find it in cheap people.WBuffett

#83,129
Nov 5, 2017 5:01am Nov 5, 2017 5:01am

tomgu
| Joined Nov 2015 | Status: Trader | 66 Posts

“I will inform you via PM when I have the live account ready and how you can view the trades.
I still need member tomgu to confirm with me what the account size he wants to see live trades done.”

Thanks Emma, you are a very kind teacher. I think most of us are small account holders, what is the proper size account? I think there are two groups: One is follow, the smaller the better, like you said $500. Two is view only, whatever you like to share at your convenience.

As you will start holiday soon, wish you a great trip and a nice holiday.

#83,130
Nov 5, 2017 6:14am Nov 5, 2017 6:14am

sabbah
| Joined Jun 2013 | Status: Trader | 64 Posts

Quoting tomgu

Disliked

“I will inform you via PM when I have the live account ready and how you can view the trades. I still need member tomgu to confirm with me what the account size he wants to see live trades done.” Thanks Emma, you are a very kind teacher. I think most of us are small account holders, what is the proper size account? I think there are two groups: One is follow, the smaller the better, like you said $500. Two is view only, whatever you like to share at your convenience. As you will start holiday soon, wish you a great trip and a nice holiday.

Ignored

$500 is good and leverage 1:100 is a great starting point. It is wise not to over exaggerate.

#83,131
Nov 5, 2017 6:17am Nov 5, 2017 6:17am

Tanveer87
| Joined Jun 2014 | Status: Trader | 33 Posts

Quoting darko2010

Disliked

October was my biggest losing month in years. Why? Just one reason: complete lack of discipline. We all have the answers, yet some of us refuse to use them and look for the improbable rather than the probable which, sometimes, is uglier than our fantasies (e.g. Too late to enter a trade, drawdown already too painful etc...). The market is the market, applying one's fantasies on it doesn't change it. Winning by luck is even worse as it gives a false sense of skill. I am still struggling with some concepts such as WCC which I see everywhere now, but...

Ignored

Thanks for your answer! Do you have skype Darko? If yes just pm me. We both will discuss this strategy and will try to improve ourselves. I hope it will work for both. And when there will a problem we will ask over here

#83,132
Nov 5, 2017 6:41am Nov 5, 2017 6:41am

Sun10
| Joined Oct 2017 | Status: Trader | 8 Posts

Quoting emmanuel7788

Disliked

{quote} Here are the two important files for MT5: Note, these are name .ex5 not .ex4 {file} {file}

Ignored

I have downloaded Indicator on MT5 Platform but i am not able to use this on chart.

it's shown in the Indicator folder but not on the chart in custom folder.

Thanks

#83,133
Nov 5, 2017 7:14am Nov 5, 2017 7:14am

Simply-Me
| Joined Oct 2017 | Status: Trader | 597 Posts

Quoting emmanuel7788

Disliked

{quote} Updated list so far: https://www.forexfactory.com/tomgu https://www.forexfactory.com/reverseflash https://www.forexfactory.com/jaizy https://www.forexfactory.com/marto24 https://www.forexfactory.com/frank0 https://www.forexfactory.com/mdtrader https://www.forexfactory.com/dharmikpatel https://www.forexfactory.com/panzerfx https://www.forexfactory.com/deichkind https://www.forexfactory.com/simontw https://www.forexfactory.com/mazibee...

Ignored

emmanuel,
thankx for including me to your list

Whether you think you can, or you think you can't,you're right. H.F.

#83,134
Nov 5, 2017 9:32am Nov 5, 2017 9:32am

Nik-Nyc
Joined Dec 2014 | Status: Trader | 475 Posts

Quoting ItaTrader93

Disliked

{quote} Can't get the meaning of the first pic. I got the second, but I don't understand what it should prove, other than the (obvious) conclusion that you need around 48% of winning operations in order to be profitable with a 1,10 RR.

Ignored

ItaTrader,

The top row (2,3,4, etc) represent consecutive losing trades. For each hypothetical W/L% strategy (columns A & B), the body of the worksheet indicates the likelihood of the consecutive losers occurring. This is an important aspect of the Drawdown subtopic. Can you see how the likelihood of consecutive losers might be a more important factor when determining your risk size than a simple W/L% ? Also, ask yourself , does the likelihood of consecutive losers increase when the sample size of trades goes from 100 trades to a 1,000 trades?

The point was your chart was incomplete and potentially misleading to newbies. MM is crucial. It does not have to be overly complicated, but it is essential, and therefore it is imperative to look beyond simple W/L%.

Lots of good PDF's on the subject posted in this thread, many written by Dr Van Tharp. Check the paperclip or Emmanuel's profile under forum attachments.

N.

#83,135
Nov 5, 2017 10:23am Nov 5, 2017 10:23am

suirad0
| Joined Mar 2010 | Status: Trader | 191 Posts

Quoting emmanuel7788

Disliked

{quote} Updated list so far: https://www.forexfactory.com/tomgu https://www.forexfactory.com/reverseflash https://www.forexfactory.com/jaizy https://www.forexfactory.com/marto24 https://www.forexfactory.com/frank0 https://www.forexfactory.com/mdtrader https://www.forexfactory.com/dharmikpatel https://www.forexfactory.com/panzerfx https://www.forexfactory.com/deichkind https://www.forexfactory.com/simontw https://www.forexfactory.com/mazibee...

Ignored

Hi,
Count me in please

#83,136
Nov 5, 2017 10:28am Nov 5, 2017 10:28am

sailorvt
| Joined Jun 2013 | Status: Trader | 75 Posts

Quoting emmanuel7788

Disliked

{quote} Updated list so far:I will inform you via PM when I have the live account ready and how you can view the trades. I still need member tomgu to confirm with me what the account size he wants to see live trades done.

Ignored

Hi, am I late to the party?
Please count me in too, Thanks a lot!

#83,137
Nov 5, 2017 10:40am Nov 5, 2017 10:40am

ecp
| Joined Jan 2016 | Status: Trader | 1 Post

Quoting emmanuel7788

Disliked

{quote} Updated list so far: https://www.forexfactory.com/tomgu https://www.forexfactory.com/reverseflash https://www.forexfactory.com/jaizy https://www.forexfactory.com/marto24 https://www.forexfactory.com/frank0 https://www.forexfactory.com/mdtrader https://www.forexfactory.com/dharmikpatel https://www.forexfactory.com/panzerfx https://www.forexfactory.com/deichkind https://www.forexfactory.com/simontw https://www.forexfactory.com/mazibee...

Ignored

Im interested too.

Thanks

#83,138
Edited Nov 6, 2017 1:12am Nov 5, 2017 10:51am | Edited Nov 6, 2017 1:12am

ItaTrader93
| Joined Sep 2015 | Status: Flow follower | 262 Posts

Quoting Nik-Nyc

Disliked

{quote} ItaTrader,

Ignored

Definitely a better way to introduce yourself rather than the stuff you wrote yesterday

.

I'll try to keep it short, but since we are talking about two crucial points like MM and psychology i want to make this point as clear as i can.

Quote

Disliked

Can you see how the likelihood of consecutive losers might be a more important factor when determining your risk size than a simple W/L% ?

No, i can't (and by the way, it is not what i do).

But i can see how it could EVENTUALLY be a more important factor, for some of us.

For those people it would be a smart choice to determine risk size basing on the likelihood of consecutive losses.

For me, as for many other traders, it would not be the best choice available.

I have a good risk tolerance. That means I can lose 10% of my equity in 2 days and still be completely comfortable 'cause the main focus IT'S NOT the drawdown but the number of winning trades out of the 220 i set as my goal for the year. I know that if i'm able to trade 220 times over a year (less than once per day) with a risk reward ratio of 1,10, i can obtain a 129% return on equity with 121 (55%) winning trades, if i risk 3% of my equity for each trade.

That being said, the only question i ask myself is: "am i able to tolerate a drawdown of x% without losing focus or getting upset/emotionally hurt? Does this MM fit myself as a trader and a person?"

For me, the answer is YES. And this doesn't make me special, just different from some traders and similar to others.

Quote

Disliked

The point was your chart was incomplete and potentially misleading to newbies.

Everything is potentially misleading, especially for newbies, including your chart.

And newbies tend to have lots of dark spots they need to clear in order to get to a more functional big picture: one of the most common is the belief about topic such as winning rate, R:R, and number of operations. They aim for 70%+ winning strategies with a 1:2+ reward ratio, without realize they will be able to turn 1$ into a million with that numbers.

Just think how much a newbie could be struggling looking for a way to reach that parameters. It would be a nightmare.

So, i thought it was a good idea to post that chart to prove that you don't need such incredible statistics to get great results.

Quote

Disliked

It does not have to be overly complicated, but it is essential, and therefore it is imperative to look beyond simple W/L%.

Of course it is, so what? That chart is way beyond simple W/L%, and was introduced by the following message:

Look, money management is just an expression to refer to countless strategy to handle our money, be aware of it and find the method which fits you the best.

You'd better put some effort to grasp the most profound essence of MM, don't stuck yourself into the theoretical books notions which have to be contextualized with experience.

First, you get to a point where you see the market for what they are (you get "in the zone", if you will).

Then you find out the trading style you're most comfortable with, what you're good at and what you're not, the type of approach that makes you feel more confident and at your ease.

Last but not least, you put together a set of rules based on your emotional and technical features in order to maximize your profit without blowing your account. That set of rules will be your money management.

Don't stay with static notions, everyone of us is different and from a different levels of risk acceptance and tolerance (as well as from different ways to trade) come countless different money management style. I know great traders who trade with the most different MMs, from time-based exits and Set&Forget trades up to totally discretionary approach, and so on.

Don't use absolutisms: this is what really put people on the wrong path.

It's not over, until I win.

#83,139
Nov 5, 2017 10:57am Nov 5, 2017 10:57am

darko2010
| Joined Apr 2010 | Status: Trader | 1,025 Posts

I don't see my name although I adked to be in

Quoting tomgu

Disliked

“I will inform you via PM when I have the live account ready and how you can view the trades. I still need member tomgu to confirm with me what the account size he wants to see live trades done.” Thanks Emma, you are a very kind teacher. I think most of us are small account holders, what is the proper size account? I think there are two groups: One is follow, the smaller the better, like you said $500. Two is view only, whatever you like to share at your convenience. As you will start holiday soon, wish you a great trip and a nice holiday.

Ignored

#83,140
Nov 5, 2017 11:00am Nov 5, 2017 11:00am

niltino
| Joined Jul 2017 | Status: Trader | 31 Posts

Quoting emmanuel7788

Disliked

{quote} Updated list so far:total count 69 members. I will inform you via PM when I have the live account ready and how you can view the trades. I still need member tomgu to confirm with me what the account size he wants to see live trades done.

Ignored

I would like to participate too.

Thanks

Trading Systems
/
Trading Made Simple
Reply to Thread
- 1 4155 4156 Page 4157 4158 4159 7594
- 1 Page 4157 7594

70 traders viewing now, 1 is registered:

Pathekiwi

Options

Similar Threads

Trading Made Simple