Trading Made Simple | Page 4187 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Monitor for 'Trading Made Simple' system 565 replies

Trading Made Simple the right way, and other trading lessons 334 replies

Indicators for the 'Trading Made Simple' system 343 replies

MTF Indicators for the 'Trading Made Simple' system 241 replies

Trading Made Simple system follower - Thanks to eelfranz 9 replies

Attachments: Trading Made Simple
Exit Attachments

Trading Made Simple

  • #83,721
  • Nov 30, 2017 12:12pm Nov 30, 2017 12:12pm
Quoting Jordi
Emm, sometimes you said that your average positions for a basket are 3.5. Knowing this, why to open the 5th position (most probably, will be a loser)? why no to adjust the stop size? for example 2.5 ATR 100 (D1)?

I know from my trading statistics the average number of positions per basket is 3.5.

Without opening the 5th position, this average wont be the same.

The reason for using 5 positions per basket? the answer should be in that pdf you compiled.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #83,722
  • Edited 1:00pm Nov 30, 2017 12:24pm | Edited 1:00pm
Quoting Jordi
Hi, I'm done for this week. This has been a terrible week, almost all my profits are gone. I've preferred to close all my open trades today because if I didn't all my profits are in danger. So I 'm only 44.54 in profit (5044.52). Obviously, I need to revise my trades and changes some things, and I'm going to do it. {image} {image}

You still have the shirt on your back so do not let this first attempt discourage you. For someone doing this for the first time, you have done very very well and ahead of many others I know.
It took me almost 2 years to learn and fully understand the whole concept of scaling in and scaling out of the market, using multiple entries to build positions, etc.
After 2 years f forward testing in live market with demo money, I went live and the couple of years wasn't easy going either and paid the tuition fees to the the market to teach me to develop my mental fitness to trade.

Give it time, keep on practising. Professionals like doctors, surgeons, dentists, lawyers, etc. do not become professionals after they graduate from school. They practice, practice, practice,.. their entire professional life.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #83,723
  • Nov 30, 2017 12:27pm Nov 30, 2017 12:27pm
Quoting Giannis95
Hi Emmanuel, what is the criterion for taking profits in a trading range and in a trend? When do we stop opening new basket of trades? Thank you

I have one simple belief about taking profits.

it is "take what the market gave me and give little back".

When do I stop trading?
1) when the original trade setup conditions are not longer true.
2) when I reach mental exhaustion.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #83,724
  • Nov 30, 2017 12:45pm Nov 30, 2017 12:45pm
Quoting deltaone
{quote} hi emmanuell, to be honest, iīve never heard of a kedge account. what is the advantage? i mean, if one is trading the same underlying/instrument, i canīt see any with the exception of avoiding country-specific regulations (no hedging allowed f.e.) or separation of profits from the main account for security reasons when account is above deposit guarantee level. kind regards d1
Hi d1,

I learned this from a Berlin trader few years ago. Initially I thought the term "kedge" had to do with hedge but later learn more from him why he used the sailing term kedging. That has to do with certain sailing manoeuvring techniques which he uses as analogy and apply to using several trading accounts in the market.
One key point is the funding of the kedge accounts which is from profits banked in which effectively means all the trades taken using the kedge accounts are 'free trades' and to some people this has different impact on the trading psychology.
But for me, the main draw is that I can trade different trade plans using the kedge accounts along with one master account. I can copy some trades from the master account to the kedge account which is actually function as a slave account.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #83,725
  • Nov 30, 2017 12:58pm Nov 30, 2017 12:58pm
Quoting Jordi
HI Emm, I have a question regarding stop loss. There are old posts where you explained that the stop loss is calculated from average entry price. For example: https://www.forexfactory.com/showthr...15#post8810115 Now I have 2 trades (GBPNZD and EURCAD) with my 5th position filled (I'm short), because the average entry price is higher, the stop loss for the whole position is higher too. That means that the stop loss for the first position ( the first 0.20 %) is higher that the original stop loss ( the same happen with the 2nd,...

WOW, that very old post ... I need time to go back and refresh my memory on that example.

You account size and how your do your trades Position Sizing is critical when you want to scale in and scale out.

There is an old post with tutorial understanding trade on position sizing.
https://www.forexfactory.com/showthr...57#post8510757
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #83,726
  • Nov 30, 2017 1:11pm Nov 30, 2017 1:11pm
Quoting emmanuel7788
{quote} Hi d1, I learned this from a Berlin trader few years ago. Initially I thought the term "kedge" had to do with hedge but later learn more from him why he used the sailing term kedging. That has to do with certain sailing manoeuvring techniques which he uses as analogy and apply to using several trading accounts in the market. One key point is the funding of the kedge accounts which is from profits banked in which effectively means all the trades taken using the kedge accounts are 'free trades' and to some people this has different impact...
thanks for your reply, emmanuel.
as far as i understood, itīs at minimum a trick to gain mental strength.
as long as it helps, fine. (must be good since itīs from berlin )

all the best
d1
fortis fortuna adiuvat
  • #83,727
  • Nov 30, 2017 1:18pm Nov 30, 2017 1:18pm
Quoting emmanuel7788
{quote} Lesson on trading account DRAWDOWN and RECOVERY Managing drawdowns and recovery require constant attention to details and diligent work. I need to keep my drawdown to 10% and a maximum of 20% because the recovery is very difficult to do. Statistics taken from books shows that: <> {image} A drawdown above 30% is impossible to recover for any novice trader. Most novice short term traders only look at the platform drawdowns statistics as numbers but do not see the other details of the drawdowns. There is drawdown in absolute dollars and % of...

DRAWDOWN DURATION and RECOVERY

Hey Folks,

To the few who PM this week.
Sorry that I could not explain what drawdown duration is.
Perhaps this youtube video explain that simpler.

Inserted Video
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #83,728
  • Nov 30, 2017 7:12pm Nov 30, 2017 7:12pm
USDJPY Dec 01, 2017

First trading of the Dec month and last trading day of this Week 48.

If today price does not close above 112.70, we may see range next week. Quite narrow range of about 170 pips.

Talks about FED rate hike in December, will that happen?

But first we have NFP next week on Friday Dec 08.

There are 4 price levels - Nov OHLC, price will revisit any of the remaining 3 this month.

Attached Image (click to enlarge)
Click to Enlarge Name: USDJPY Nov closed.png Size: 31 KB


Big Picture below.
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPY BPP Dec 01.png Size: 53 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #83,729
  • Dec 1, 2017 4:12am Dec 1, 2017 4:12am
Quoting emmanuel7788
{quote} Hi d1, I learned this from a Berlin trader few years ago. Initially I thought the term "kedge" had to do with hedge but later learn more from him why he used the sailing term kedging. That has to do with certain sailing manoeuvring techniques which he uses as analogy and apply to using several trading accounts in the market. One key point is the funding of the kedge accounts which is from profits banked in which effectively means all the trades taken using the kedge accounts are 'free trades' and to some people this has different impact...
Hi emm.
Thanks for this explanation.
now your kedging aproach is "clean and clear".

I can see the benefits.

stay tuned + a happy weekend
Guido
Risiko birgt immer auch die Chance.
  • #83,730
  • Dec 1, 2017 6:43am Dec 1, 2017 6:43am
Quoting emmanuel7788
{quote} Hi d1, I learned this from a Berlin trader few years ago. Initially I thought the term "kedge" had to do with hedge but later learn more from him why he used the sailing term kedging. That has to do with certain sailing manoeuvring techniques which he uses as analogy and apply to using several trading accounts in the market. One key point is the funding of the kedge accounts which is from profits banked in which effectively means all the trades taken using the kedge accounts are 'free trades' and to some people this has different impact...
Very good info, thanks for sharing!
  • #83,731
  • Dec 1, 2017 9:17am Dec 1, 2017 9:17am
Hi, newbie question, just joined FF and new to forex, I have copied the four files in post 25 to a new folder on my desktop. I understand I need to go to "open data folder", where do I copy these four files to?

Kind regards to all
  • #83,732
  • Dec 1, 2017 9:36am Dec 1, 2017 9:36am
Hi. Question. @emmanuel

In this chart, GBPAUD H4

Will you enter here in vertical line (0800)? The Green line just crossed the Red line at the beginning,

If Yes, (why will you enter? The green line may just bounce back)

Thanks.
Attached Image (click to enlarge)
Click to Enlarge Name: gbp aud h4.png Size: 71 KB
  • #83,733
  • Dec 1, 2017 9:58am Dec 1, 2017 9:58am
.. and something productive ...

Gu since 2 weeks Daily TF MeMe.

Happy weekend
Guido
Attached Images
Risiko birgt immer auch die Chance.
  • #83,734
  • Dec 1, 2017 10:01am Dec 1, 2017 10:01am
Quoting emmanuel7788
{quote} https://www.youtube.com/watch?v=mWO3IY6UWOE&t=34s
Trading Made Simple is getting better day by day.
Wonder what happend to: "Cut loses short and let profits run"

How far has this tread moved away from the core principle that BigE stipulated many times in posts like Post#6, 123, 513, 949.........

Is there a ulterior motive behind posting such a video?
One that hide the fact that MEME is an account killer.
  • #83,735
  • Dec 1, 2017 10:30am Dec 1, 2017 10:30am
Quoting ekoooy
Hi. Question. @emmanuel In this chart, GBPAUD H4 Will you enter here in vertical line (0800)? The Green line just crossed the Red line at the beginning, If Yes, (why will you enter? The green line may just bounce back) Thanks. {image}
Hope this helps
Attached Image (click to enlarge)
Click to Enlarge Name: TDI example.JPG Size: 127 KB
  • #83,736
  • Dec 1, 2017 10:40am Dec 1, 2017 10:40am
Quoting Black
Idiot, moron, simpleton, bozo, imbecile, clown
Which of those words best describes someone who trades like following?

Attached Image


Attached Image


I know your membership is revoked. But you the Van Tharp gang has hundreds of other usernames use to promote yourself here in this thread. You can use one of them to answer.
  • #83,737
  • Dec 1, 2017 10:46am Dec 1, 2017 10:46am
Quoting Tekkies
{quote} Trading Made Simple is getting better day by day. Wonder what happend to: "Cut loses short and let profits run"
He along with the rest of Van Tharp gang trades the Holy Grave

Holy Grave: Cut the winners short; let the losers run.

They have even brought Holy Grave to the next level with their ME/ME crap and keep adding positions to the losers! That is the secret of losing profit gained for months in a couple of hours!

You can also call it Inverse TMS, because they open buy trades when TDI is crossed down, and vice versa.
  • #83,738
  • Dec 1, 2017 11:31am Dec 1, 2017 11:31am
Quoting emmanuel7788
{quote} I did post the last 20-trading days here: https://www.forexfactory.com/showthr...5#post10439415 {image} I will keep this EA running in my VPS and will be post the results at the end of Nov again.

Hey Folks,

As I promised, here is my trades closed end Nov 30.
I will continue to run this very small kedge account in my VPS through Dec and to test this new EA during the next 4 weeks and see how it will perform especially during the last 2 week from Dec 18 to 31 when the market liquidity is expected to be very thin.

You don't need to stress yourself trying to achieve 90% to 100% win rate.
My win rate is average 65%. That is enough for you to use Money Management and make that 10% every month.
Trading should be something your love to do and be relax. If trading cause you to be stressed, then you are far from Peak Performance.

Attached Image (click to enlarge)
Click to Enlarge Name: TMS MEME Nov 30 closed trades.png Size: 71 KB



Read this old post about this EA being developed. It is not a auto trading robot which many would like. But as a trade manager EA, it will manage your MEME trades for you but you must do your weekly top down analysis and plan your trades. You need to initiate your trade decision - to buy or to sell at the beginning of the week and activate the EA to manage your trades during the week.
The EA will manage those trades for you and your have free time to enjoy life.

https://www.forexfactory.com/showthr...5#post10439415
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #83,739
  • Dec 1, 2017 11:33am Dec 1, 2017 11:33am
Folks,

I am a big fan of these authors and have their books in my library.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Psychology of Trading by Brett Steenbarger.png Size: 590 KB
Click to Enlarge Name: Steenbarger 101 Daily Coach.png Size: 264 KB
Click to Enlarge Name: Trading Psychology 2.0 by Brett Steenbarger.png Size: 447 KB
Attached Images
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #83,740
  • Dec 1, 2017 11:35am Dec 1, 2017 11:35am
Putting on a winning trade or even a series of winning trades requires absolutely no skill.
On the other hand, creating consistent results and being able to keep what we’ve created does require skill.
Making money consistently is a by-product of acquiring and mastering mental skills.
– Mark Douglas


Attached Image
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
72 traders viewing now