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Trading Made Simple

  • #84,581
  • Dec 21, 2017 11:05am Dec 21, 2017 11:05am
Quoting irishcraig09
Hi tekkies Thanks for the reply, I see what you mean about stopping the video and in hindsight. I also started reading starts page on pasr to see how much I can learn from that as a newbie. Cheers Craig

i dunno if i take all this trade correctly, but this is the result i try trade only with MC and Monthly line
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2% target/Month !
  • #84,582
  • Dec 21, 2017 11:22am Dec 21, 2017 11:22am
3 Current trades:

Divergence on the 4H charts on all, and the daily followed suit on the GBPUSD. Executed the GBPUSD trade after the piercing price action candlestick on 12-18. Buy limit order the next day, which I caught. Been waiting for the bullish follow through. It's moving up today so far, as bullish pin bars develop on the 4H and daily. This is a good sign.

Looking for a retrace, at least, to the Fib 38 line on the EURJPY. Comfortable with shorting this trade. I really like it...but daily hasn't followed suit yet with divergence, so there's a little risk involved.

The riskiest trade is the EURUSD. Shorting this. Divergence on the 4H, but not the daily yet. There definitely is room to move up to the next resistance zone at the 1.1900, so we could see a touch of that area...which is why the SL is above that. I will analyze this trade at each 4H candle close, to consider if I should stay in or not.

3:1 - profit:loss set for these 3 trades.

Happy trading!

-Dr. Ninja
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  • #84,583
  • Dec 21, 2017 12:19pm Dec 21, 2017 12:19pm
Quoting emmanuel7788
NZDCAD Week 51 Dec 21 Nice end to the month and year for this pair. rally from bottom 0.8700 to 09000 ... looks like it is not going any where for days, maybe or maybe not. {image}
Emmanuel7788 you are preparing us for naked PA trading in 2018 with advanced WRB Analysis. Keep the good work am learning a lot in your trading. Thanks mate.
  • #84,584
  • Dec 21, 2017 12:41pm Dec 21, 2017 12:41pm
Probably going to short the NZDUSD today and the USDJPY at US market close.
Yellow lines represent approx limit order, SL, and TP.
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  • #84,585
  • Dec 21, 2017 12:56pm Dec 21, 2017 12:56pm
here you go rick todays 1 trade a 2b break pullback price stalled just outside value high area
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  • #84,586
  • Dec 21, 2017 2:40pm Dec 21, 2017 2:40pm
Quoting RickM
{quote} Hi Jan I trade price action as it swings from one monthly control line to another. The Kings Candles are larger than normal candles that reach up to rest on a monthly control line as seen on the H4 chart.
Thanks for your excellent explanation.
  • #84,587
  • Dec 21, 2017 3:06pm Dec 21, 2017 3:06pm
Hi,
does anyone know of a good -RECENT- howto for the MT4 strategy tester? I have some trouble with the latest MT4 versions with performance. Even one run takes minutes, let alone doing an optimisation run with many parameters. Maybe the way I do it is not matching the newer versions of MT4 anymore or I am making some other type of mistake. I used to work the strategy tester without problems a year ago.
Sorry for being of topic! I want to optimise settings for my TMS Expert Advisor.
Thanks in advance!
  • #84,588
  • Edited 7:53pm Dec 21, 2017 3:07pm | Edited 7:53pm
Quoting irvanhidan
{quote} i dunno if i take all this trade correctly, but this is the result i try trade only with MC and Monthly line {image}
Good trading

Its amazing how price action seeks safety at the monthly lines. You will find if it goes into consolidation period here for a while, a big move will happen.
We do not know which way or when but it will happen so we need to ready for that large candle leaving the control line.
Trading thin liquidity at the boundary of the charts
  • #84,589
  • Dec 21, 2017 4:58pm Dec 21, 2017 4:58pm
Quoting Tekkies
{quote} Not that you can scale in with 0.01.
Oh, I am sure you can scale in with 0.01. Ask Trogger, a trader who even Strat has a very high opinion of.
  • #84,590
  • Dec 21, 2017 5:58pm Dec 21, 2017 5:58pm
Quoting catalin_eros
{quote} Oh, I am sure you can scale in with 0.01. Ask Trogger, a trader who even Strat has a very high opinion of.

there is a lot more to trading account management than knowing how to scale-in and scale-out.

when you want to combine both the Lotto model and the Insurance model to create a CashFlow model to trade TMS ME/ME, you need very good knowledge in how to manage your hard earned money which you would deposit with your brokers that becomes your trading account.

You must have a 'sound' financial plan to safeguard your investment and trading capital which usually is your hard-earned money from your day jobs/career. If you trade with money you can afford to lose, you will eventually lose it all.
Start and think of it differently starting in 2018, trade only with money you cannot afford lose when you want invest and trade the markets (stock, futures, forex, etc.) The mental strategies you will learn and develop as a trader will be very different.
You can train yourself in developing your mental strategies when you trade live markets with real money. You can also use demo account but only you can distinguish the differences in your own minds when it is real money and demo money.

Goodluck folks.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #84,591
  • Dec 21, 2017 6:18pm Dec 21, 2017 6:18pm
Quoting jansb000
Hi, does anyone know of a good -RECENT- howto for the MT4 strategy tester? I have some trouble with the latest MT4 versions with performance. Even one run takes minutes, let alone doing an optimisation run with many parameters. Maybe the way I do it is not matching the newer versions of MT4 anymore or I am making some other type of mistake. I used to work the strategy tester without problems a year ago. Sorry for being of topic! I want to optimise settings for my TMS Expert Advisor. Thanks in advance!
running your expert advisors in MT4 to do back-testing is not very efficient. It takes a lot of time to run especially when you want to test the higher tmeframes like H4 and D1 chart.

when you have developed both technical trading and money management strategies to test, the best way is to do it in forward testing in live market with live accounts.
I do this usually for 6 to 12 months period just to be sure that the EA can handle the broker I chose - order execution, spread, re-quotes, latency issues, etc. most of the issues related to the broker of choice during live market situations for example around key news and events.

when you run back-testing you can test your technical entry and exit trade management, you can count the number of trade opportunities in the time frames, you can also check the best and worst hours, market session, etc. to trade with your entry and exit. You can simulate money management, risk and trade lot size, etc.

to improve the run time of you EA when back-testing, I did the following:-
- get rid of most iCustoms call routines as much as I can, for example calculate the HA candle prices in your EA instead.
- do not use customs indicators like the TDI, but instead use the platform RSI instead to simulate using MA on the RSI data.
- get rid of all other indicators which is not used for the entry and exit rules
- get rid of any all MTF indicators in your back-testing templates.

... just a few common things I do when I run back-testing.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #84,592
  • Dec 21, 2017 6:49pm Dec 21, 2017 6:49pm
Quoting emmanuel7788
NZDCAD Week 51 Dec 21 Nice end to the month and year for this pair. rally from bottom 0.8700 to 09000 ... looks like it is not going any where for days, maybe or maybe not. {image}
NZDCAD Dec 21 update:

about dealing with FEAR and GREED

you can't get rid of these two in you, so why not use them and trade what you see on your charts.

Attached Image (click to enlarge)
Click to Enlarge Name: NZDCAD Week 51 Dec 21_2.png Size: 226 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #84,593
  • Dec 21, 2017 7:53pm Dec 21, 2017 7:53pm
its one thing to show a chart its another thing to show how to trade it. trend is down price pullsback forms a 123 and point 2 is taken out sell a pullback at point 3 area then price makes a 2b (price takes out low or high buy a couple of ticks then price makes a higher high take a pullback to 2 b candle
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  • #84,594
  • Dec 21, 2017 8:11pm Dec 21, 2017 8:11pm
Quoting RickM
{quote} Good trading Its amazing how price action seeks safety at the monthly lines. You will find if it goes into consolidation period here for a while, a big move will happen. We do not know which way or when but it will happen so we need to ready for that large candle leaving the control line.

GbpAud SELL, what do you think rick ?
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2% target/Month !
  • #84,595
  • Dec 21, 2017 8:13pm Dec 21, 2017 8:13pm
Today I have 04 trade.
How do you find out about these trade?
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  • #84,596
  • Dec 21, 2017 8:23pm Dec 21, 2017 8:23pm
this is another trades
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2% target/Month !
  • #84,597
  • Dec 21, 2017 8:23pm Dec 21, 2017 8:23pm
What is a trend?
Which trend?

Attached Image (click to enlarge)
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there are many different ways 'to skin a cat' ...quote snarlyjack

https://www.forexfactory.com/showthr...46#post7934446
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #84,598
  • Dec 21, 2017 8:48pm Dec 21, 2017 8:48pm
Quoting macajos
{quote} Emmanuel7788 you are preparing us for naked PA trading in 2018 with advanced WRB Analysis. Keep the good work am learning a lot in your trading. Thanks mate.
2018 is just few days to go

start thinking and making plans for your trading in the new year 2018. I have completed mine plan for 2018/2019 and have my vision set for 2020.

know the difference,


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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #84,599
  • Dec 21, 2017 8:51pm Dec 21, 2017 8:51pm
Quoting irvanhidan
{quote} GbpAud SELL, what do you think rick ? {image}
Hi Irvanhidan

There was a good Kings Bar into the monthly control line to end the last move. The perfect setup for us is consolidation around the control line to create a master Bar. Bingo
Now we await for a large Bar to cross or leave from the control line which has also occurred a few bars back.
Bingo

Looks good to trade and I have already entered on last Bar so that’s perhaps two of us on this trade.

Warning - This is probably not a good idea taking trades this close to Xmas. I have entered on a smaller lot size than normal.

Lastly , hope you’re still in the control line set up on the AUDJPY, I am up 130 pips at present.
Trading thin liquidity at the boundary of the charts
  • #84,600
  • Dec 21, 2017 9:00pm Dec 21, 2017 9:00pm
Quoting emmanuel7788
What is a trend? Which trend? {image} there are many different ways 'to skin a cat' ...quote snarlyjack https://www.forexfactory.com/showthr...46#post7934446
i don't call up or down even better to call it shift momentum
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