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Trading Made Simple

  • #83,841
  • Dec 3, 2017 4:39pm Dec 3, 2017 4:39pm
Quoting Jordi
{quote} Hi. Change your broker, I think is the best solution for this issue.

You dont need to change broker just because of the Sunday candle.

Simple solution is when you use the platform ATR , make a volatility check and if the ATR calculated is low because of the small Sunday candle, simply set the ME order distance to minimum 100 pips as the default parameter.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #83,842
  • Dec 3, 2017 6:52pm Dec 3, 2017 6:52pm
Quoting iyerkedar
Hi, Is there a MT4 expert advisor file based on this indicator so that I can place trades automatically?

Yes.

Do want an expert advisor EA that can place trades automatically for you base on the TDI entry in M5 like this trade chart below?

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD Weekly trades with M5 entries.png Size: 91 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #83,843
  • Dec 3, 2017 7:09pm Dec 3, 2017 7:09pm
GBPUSD Week 49 Dec 04

We see a Weekly close breakout of that big candle range.

If we buy on D1 chart today , I would place my initial Stop Loss below the previous 2 weeks low

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD Week 49 Dec 04.png Size: 33 KB


what shall we do during the retracement in the Weekly candle?
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #83,844
  • Dec 3, 2017 7:49pm Dec 3, 2017 7:49pm
Quoting ReverseFlash
you having wet dreams with Van Tharp,
Sure I do! But I know another one who gets more wet when thinking of Van Tharp. See below.

Quoting emmanuel7788
Folks, I am a big fan of these authors and have their books in my library.
Ah lets see. In this post you mention about Brett Steenbarger, Alexander Elder, and ARI KIEV and in your previous posts you have also mentioned about Kathy Lien.

Lets do a search in emmanuel's posts with those words, including the words "Van Tharp"

Kathy - 28 Results
ARI KIEV - 0 Results
Brett - 13 Results
Alexander - 37 Results
Van Tharp - 114 Results

Sure emmanuel doesn't have anything special with Van Tharp.
  • #83,845
  • Dec 3, 2017 8:04pm Dec 3, 2017 8:04pm
Also love Mark Douglas, do another search using keyword "Mark Douglas"... what do you find?
Attached Image


And this one by Jason Williams - Mental Edge in Trading.

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Click to Enlarge Name: Mental Edge in Trading by Jason Williams.png Size: 567 KB


Adventures of a Currency Trader by Rob Booker
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Click to Enlarge Name: Adventures of a Currency trader.png Size: 147 KB


And also try search "BWILC" by Dirk Tu Toit. Never read that book.
Attached Image
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #83,846
  • Dec 3, 2017 9:08pm Dec 3, 2017 9:08pm
Quoting emmanuel7788
{quote} You dont need to change broker just because of the Sunday candle. Simple solution is when you use the platform ATR , make a volatility check and if the ATR calculated is low because of the small Sunday candle, simply set the ME order distance to minimum 100 pips as the default parameter.
Wait, you're recommending people to allow a 100 pip DD on their account?

Are you serious?
Trade with confidence, trade without fear.
  • #83,847
  • Dec 3, 2017 10:09pm Dec 3, 2017 10:09pm
Quoting Cryptosurf
{quote} Wait, you're recommending people to allow a 100 pip DD on their account? Are you serious?
Yep he is. You should watch the video where the guy say it is not septicaemic to start with a drawback 20% as an newbie
https://www.forexfactory.com/showthr...10547829#reply
  • #83,848
  • Dec 3, 2017 10:20pm Dec 3, 2017 10:20pm
Quoting Tekkies
{quote} Yep he is. You should watch the video where the guy say it is not septicaemic to start with a drawback 20% as an newbie https://www.forexfactory.com/showthr...10547829#reply
That's crazy IMO. Excessive DD's only adds harm and detriment to the psychology of the trader. ie cut your losses early.
Trade with confidence, trade without fear.
  • #83,849
  • Dec 3, 2017 10:40pm Dec 3, 2017 10:40pm
Quoting Cryptosurf
{quote} That's crazy IMO. Excessive DD's only adds harm and detriment to the psychology of the trader. ie cut your losses early.

Of course it's crazy...for the very reasons you state. It's a sign of incompetence and failure to read the market. What it isn't though, is Trading Made Simple by eefranz
Doing what you like is Freedom. Liking what you do is Happiness.
  • #83,850
  • Dec 3, 2017 10:57pm Dec 3, 2017 10:57pm
Quoting emmanuel7788
Also love Mark Douglas, do another search using keyword "Mark Douglas"... what do you find? {image} And this one by Jason Williams - Mental Edge in Trading. {image} Adventures of a Currency Trader by Rob Booker {image} And also try search "BWILC" by Dirk Tu Toit. Never read that book. {image}
Mark Douglas - 22 Results
Jason Williams - 1 Result
Rob Booker - 3 Results
Dirk Tu Toit - 1 Result

Still they cannot beat Van Tharp with 114 Results!

I found a picture of a guy who trades TMS with ME/ME like you:

Attached Image
  • #83,851
  • Dec 3, 2017 11:15pm Dec 3, 2017 11:15pm
Quoting emmanuel7788
{quote} Yes. Do want an expert advisor EA that can place trades automatically for you base on the TDI entry in M5 like this trade chart below? {image}
Can you share the file? I did not understand your second line.
  • #83,852
  • Edited 1:33am Dec 4, 2017 12:46am | Edited 1:33am
Quoting ReverseFlash
{quote} Thank you Saman. When will you start your Renko EA signal service? You can start here: https://www.forexfactory.com/forumdisplay.php?f=158 ...
Only when you sign up.
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Edit: 26 min later you could have banked some pips. Better then that Trade Explorer you had up awhile ago.
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  • #83,853
  • Dec 4, 2017 1:28am Dec 4, 2017 1:28am
Quoting iyerkedar
{quote} Can you share the file? I did not understand your second line.

Are you trading long term on D1 and W1 charts?

How often do you trade?

What are your regular trading hours when you have time to check your trading charts?
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #83,854
  • Edited 1:52am Dec 4, 2017 1:34am | Edited 1:52am
Quoting nigpig
{quote} Hi Emm. I'm getting different ADR(100) values from you and I cant work out why. Mine are consistently about 30% less. In the above example your two trades 5 and 6 are approx 1.1798 and 1.1844 making a difference of 0.0046 for 0.5 ADR100 on daily time frame. So that makes 1.0 ADR(100) = 0.0092. For the same trades I'm getting ADR(100)=0.0071539 and I'm using this to calculate the average of the daily high, minus the average of the daily low over 100 days. ADR100= (iMA(NULL,PERIOD_D1,100,0,MODE_SMA,PRICE_HIGH,1)-iMA(NULL,PERIOD_D1,100,0,MODE_SMA,PRICE_LOW,1));...

there is iATR which you can use to check the ATR on 1440.

if that is less than 100 pips, then use 100 pips as the parameter in your trade manager. Simple solution.

You can use any number of pips so long as you know the volatility of the pairs you trade. The Eur crosses and GBP crosses in my 19 pairs are volatile pairs.

The trade position size must be taken care of in separate calculation.

Edit.

This ADR100 days parameter has nothing to do with Drawdown DD and Stop Loss which are separate money management functions in the trade manager.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #83,855
  • Dec 4, 2017 2:49am Dec 4, 2017 2:49am
Let's talk about losing basket of trades.
I am doing backtests on the ME / ME strategy with a TMS entry taking into consideration the market conditions (Boss, BigBoss). (I'm quite good at coding)

Distance between MEs = 0.5ATR100 + MACD (5.7.7) cross 5M
Stop Loss = 2ATR100 from the average entry price
Lot size of every trade: 0.001
In the strategy, the opening of a basket of trades does not exclude the possibility of opening more basket of trades at the same time. In this way I can check all the entry signals.

Some basketball hit the stop loss sooner or later and profits are lost. I do not put these images to create controversy, but I hope these images are a source of constructive discussion. If Emmanuel's method works, I want to learn from him and understand what I'm doing wrong or missing.

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  • #83,856
  • Edited 4:40am Dec 4, 2017 4:30am | Edited 4:40am
Criteria are:
- breakout from consolidation in H4, Heiken-Ashi candle close below/above the smma high/low
- never heard of merge orders? merge the open positions you want and the final position guess which opening price does it have? average entry price
- The confusion is due to the fact that the entry signals are not ignored if a trade basket is opened, but every single basket trade is managed independently from the others
- Try to compare MACD (5,7,7) to the TDI, you'll see how they are similar
- The market conditions take into consideration the close of the BigBoss and the Boss, the presence or absence of WCC
- 5 max position in a basket
- Take profit to a measured move from the last consolidation in H4
- When a basket is closed, we do not open immediately a new basket, but wait for an other entry signal
- Stop loss at 2.0ATR
  • #83,857
  • Dec 4, 2017 5:10am Dec 4, 2017 5:10am
Average entry price is calculated and updated each time a position is added to the basket and is calculated using the formula
Attached Image (click to enlarge)
Click to Enlarge Name: Schermata 2017-12-04 alle 12.05.45.png Size: 36 KB


Quote
Yesterday's high + low / 2?
All of last week's orders counted or only currant order's?
I don't understand these question, maybe for my bad english, I'm sorry.
If you can be clearer I would be grateful.
And if you can use less hostile tones, I do not want to make controversy, I just wanted to share some of my results.

Thank you
  • #83,858
  • Dec 4, 2017 6:04am Dec 4, 2017 6:04am
Quoting emmanuel7788
{quote} Wow! that script was done almost 5 years ago. You mean you want to add the 141% retracement and extension levels in addtiion to 138%? these two levels can be very close to each other in small range market. sure can be done, but later after I my Sunday beauty sleep.
hi big emm .i hope you enjoy enough ...........your beauty sleep..lol
Say something meaningful or Silence!!
  • #83,859
  • Dec 4, 2017 6:40am Dec 4, 2017 6:40am
Quoting classy
{quote} hi big emm .i hope you enjoy enough ...........your beauty sleep..lol

Ok, I did the first version for you but I am not sure those Fib nodes you want.

Is this what you want?

- 127%
- 141%
- 161 %

Attached Image (click to enlarge)
Click to Enlarge Name: Fibo retracement tool example.png Size: 82 KB


I try find time and read your thread to better understand those fib nodes.
Attached File(s)
File Type: ex4 Draw_FiboFavourite(classy).ex4   7 KB | 690 downloads
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #83,860
  • Dec 4, 2017 6:45am Dec 4, 2017 6:45am
Quoting emmanuel7788
GBPUSD Week 49 Dec 04 We see a Weekly close breakout of that big candle range. If we buy on D1 chart today , I would place my initial Stop Loss below the previous 2 weeks low {image} what shall we do during the retracement in the Weekly candle?

GBPUSD Week 49 Dec 04 trades examples done today,
so far +113 pips from 3 positions.

Open first position at the level where last week Close. Add 2nd position at minimum order distance 25 pips but wait for M5 setup.
Take profit 50 pps from average entry price of 2 positions, then re-entry.
3rd position took profit +50 pips and now re-entry with 4th position.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD MEME trades Week 49 Dec 04.png Size: 62 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
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