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Trading Made Simple

  • #86,381
  • Mar 24, 2018 12:01pm Mar 24, 2018 12:01pm
Quoting Divergence
https://youtu.be/TlDvaCNxqaU
Excellent video D. Very practical and logical. Need more video's of real time trading action.
every Saint has a past. Every Sinner has a Future
  • #86,382
  • Mar 24, 2018 12:01pm Mar 24, 2018 12:01pm
Quoting emmanuel7788
{quote} If TDI & Stochs are oppositre... I may pass on the trade.. Old post and training chart by the OP. {image}
emmanuel why do you post what BigE has posted in Craig Harris Stochastics Method?

In this thread BigE posted in:
Post#1:
The key to this method is the Traders Dynamic Index indicator for entries and exits. I also use a Stochastics (8,3,3) indicator. It is ONLY used to confirm direction. Nothing else.
post#119:
On this method the TDI is King. All trades are signaled by it as well as exits... does that keep it simple. Only red and green lines (double thickness) and remove the others... cut out any possible confusion... make it simple for YOU !

Don't mix the two methods please, they are not used in the same way.
  • #86,383
  • Mar 24, 2018 12:08pm Mar 24, 2018 12:08pm
Quoting Tekkies
{quote} emmanuel why do you post what BigE has posted in Craig Harris Stochastics Method? In this thread BigE posted in: Post#1: The key to this method is the Traders Dynamic Index indicator for entries and exits. I also use a Stochastics (8,3,3) indicator. It is ONLY used to confirm direction. Nothing else. post#119: On this method the TDI is King. All trades are signaled by it as well as exits... does that keep it simple. Only red and green lines (double thickness) and remove the others... cut out any possible confusion... make it simple for YOU...
Lol all I can say is wow
  • #86,384
  • Mar 24, 2018 12:32pm Mar 24, 2018 12:32pm
Quoting Divergence
{quote} Lol all I can say is wow
Wow indeed
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Attached Image (click to enlarge)
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  • #86,385
  • Mar 24, 2018 1:25pm Mar 24, 2018 1:25pm
Quoting Divergence
https://youtu.be/TlDvaCNxqaU
Thanks for the video sharing. Can I ask you how much you paid for the commision and fees? I guess you have to pay over $200 everyday. How many trades you made daily base?
FOR THE HORDE
  • #86,386
  • Mar 24, 2018 1:32pm Mar 24, 2018 1:32pm
Quoting JKLee
{quote} Thanks for the video sharing. Can I ask you how much you paid for the commision and fees? I guess you have to pay over $200 everyday. How many trades you made daily base?
I pay 4.25 per contract traded so when I get a +1 that covers it since each tick is 5.00 per contract.usually trade 3 to 4 trades a day in 1 hour of trading
  • #86,387
  • Mar 24, 2018 2:29pm Mar 24, 2018 2:29pm
Quoting Divergence
{quote} I pay 4.25 per contract traded so when I get a +1 that covers it since each tick is 5.00 per contract.usually trade 3 to 4 trades a day in 1 hour of trading
Thanks for the quick reply.
FOR THE HORDE
  • #86,388
  • Edited 4:01pm Mar 24, 2018 2:33pm | Edited 4:01pm
Quoting emmanuel7788
{quote} Hi RiskvzGain, There is light at the end of the tunnel. Wow! 10 years trading is quite long time. What have you learned in the last 10 years? Time to take stock of what you already know and build upon on them. Like I always said: If you spend 3 to 5 hours every day for 2 to 3 years, you can make it to become a trader. Question really is what do you do and learn in your 3 to 5 hours every day? I love trains since I was a young boy and always amazed by the Swiss how they build their train systems. The latest achievement is the Gotthard Base...
Hello Emmanuel, yes more than 10 years, I think 12.
In the first 3-4 years I spended even 6-8 hours in fron of my charts; of course you know how it works...holy grail research etc... luckily I always traded conservatively because (luckily) since from the beginning I understood what kind of beast is the market and that get rich quikly is only a mirage so in the end I have my main account slightly in profit, but I admit that I have not traded continuously in fact there were times when I wanted to give up everything.
My dream is still to become a professional trader (I'm 34 years old so I think to be still in time to follow this dream )

In the last periods I began to study again the matter and of course I already know that Van Tharp matter about market type, I saw a lot of things, articles, books (dozens), systems...name it and maybe I read it.
The problem I see with this concept is: you know market type only when it is developed; yes I know there are transition models but when it come to live trading the market type concept confuse me a lot.

Lately I started to become really scrupulous of the the TREND with much more awareness on its deep nature and now I can see waves clearly and I see where I can gain my edge so yes, I think it is like the light at the end of a tunnel!

I think the main framework is the trend definition on higher time frame, where is going the tide and so only after come the entries, surely I need to deepen also trade management matter in much more detail.

My request if possible is to give me your definition of the trend (maybe with some pictures on higher time frames) are you simply using higher high and higher low candles (monthly and weekly) to confirm that? Or maybe you use some moving averages too? Victor Sperandeo i.e. advice to use 200 Daily Simple MA to define the trend (or 30 Weekly MA)
In few words: what is the procedure you start to analyze the market and place a trade?

Last but not least, I like too much your generosity here

Cheers!
  • #86,389
  • Mar 24, 2018 2:52pm Mar 24, 2018 2:52pm
Learning Trading Made Simple

Good morning folks, its early morning here an before I hit the road again, though I post this.

To learn how this thread title got its title "Trading Made Simple", you should read all the posts by the OP aka Big E. You will get to know the man Eric aka Big E too.

In his other thread title "Craig Harris Stochastic Method", actually that thread started with a different name and was focus in trading M15 GBPUSD. Why did that thread name got changed to "Craig Harris Stochastic Method", well its has been a long story and if you had followed all the posts since 2009, you would know the answer.

Eric shared several methods in his old thread. He traded with Craig Harris's method rules and used the Tokyo Channel. He also traded Synergy by Dean Malone. He also traded another method using moving averages 21 and 233. All different trading methods with different set of rules for entries and exits.

But this post 149, he compared the entry of Craig and Dean.
https://www.forexfactory.com/showthr...49#post3320949

Attached Image (click to enlarge)
Click to Enlarge Name: Big E post 149 CHS.png Size: 218 KB


I learn a few things reading this post again.

Try it, read his posts again and again and zoom into his training charts. You will benefit more doing it this way.

TDI may be King, but PA is truly the King-maker.
X-Man is right, when you trade his S3, PA is the king.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #86,390
  • Mar 24, 2018 3:07pm Mar 24, 2018 3:07pm
The old saying is buy low sell high any crossover method will not allow you to do that think about that Trading pullbacks do
  • #86,391
  • Mar 24, 2018 4:45pm Mar 24, 2018 4:45pm
Quoting emmanuel7788
{quote} #1 in importance is PA, #2 is the TDI for confirmation & Stochs is just an indicator I note
I'm finding that out more and more. PA is the way to go rather than lagging indicators.
  • #86,392
  • Edited 6:25pm Mar 24, 2018 6:02pm | Edited 6:25pm
Quoting Tekkies
{quote} Hi Rick, Gable, Div Let settle this debut the right way. Come Monday on a live account (you got to put your money with your method) You do your chart magic and post immediately the chart and the order placed. I will do the same this side. To prevent trade copy I chose two chart's GBPUSD and EURUSD. Time frame does not matter. Are you game? Back to the topic on hand. Rick the point of my previous post was to point out that most methods use historical data to what the market may do or not do. (Wait 4 houers for an entry? Have you tried H1...
Hi Tekkies

As much as I would like to say - " Game On ", I only trade when there's a trade to be taken but if the EURUSD is on a strong trend, its pay day for me. I would flood the pair with multiple orders on a 1 minute Volume chart ( Not time ) with pullbacks, 123's etc. over a couple of hours. I will post an example when I get back from a break. But a great example can be found looking at Divergences videos.
The real point is we should both be happy to beat the market first, not each others pride.

Talking about S & R, I believe Support & Resistance levels ( Supply & Demand is a better description ) are just pools of liquidity of orders where supply still remains. Either not all the orders were closed or traders like Cable Guy have added new orders to this area knowing they may be closed in the near future. Here's a chart that clearly shows price action is returning for more supply, not bouncing off a wall.

The chart below is a 1 minute chart, not my normal Volume Chart but they are very similar.
In the zone at 105.412, there were 21 candles over 2 hours that reached for supply.
Attached Image (click to enlarge)
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Trading thin liquidity at the boundary of the charts
  • #86,393
  • Mar 24, 2018 7:50pm Mar 24, 2018 7:50pm
Quoting RickM
{quote} Hi Tekkies As much as I would like to say - " Game On ", I only trade when there's a trade to be taken but if the EURUSD is on a strong trend, its pay day for me. I would flood the pair with multiple orders on a 1 minute Volume chart ( Not time ) with pullbacks, 123's etc. over a couple of hours. I will post an example when I get back from a break. But a great example can be found looking at Divergences videos. The real point is we should both be happy to beat the market first, not each others pride. Talking about S & R, I believe Support...
Enjoy the break Rick.
  • #86,394
  • Mar 25, 2018 5:05am Mar 25, 2018 5:05am
Quoting RickM
{quote} Hi Tekkies As much as I would like to say - " Game On ", I only trade when there's a trade to be taken but if the EURUSD is on a strong trend, its pay day for me. I would flood the pair with multiple orders on a 1 minute Volume chart ( Not time ) with pullbacks, 123's etc. over a couple of hours. I will post an example when I get back from a break. But a great example can be found looking at Divergences videos. The real point is we should both be happy to beat the market first, not each others pride. Talking about S &...
Great post Rick. Food for thought. Nice to read a measured , well thought out , response.
every Saint has a past. Every Sinner has a Future
  • #86,395
  • Mar 25, 2018 7:15am Mar 25, 2018 7:15am
Quoting Tekkies
I started with lot size 0.01 Post 83,934 It is now 0.30, can trade with lot size 3.00 and have all sorts of funny feelings. Rather prefer to enjoy my trading like it suppose to be. {image}
Hi Tekkies, do you have a standard lot size you are trading for all the pairs? or you are calculating the lot size by how much you want to risk?
for example, if you have an account of 1000, how big would be your lot size?
Cheers.
  • #86,396
  • Mar 25, 2018 1:28pm Mar 25, 2018 1:28pm
Quoting tzaru
{quote} Hi Tekkies, do you have a standard lot size you are trading for all the pairs? or you are calculating the lot size by how much you want to risk? for example, if you have an account of 1000, how big would be your lot size? Cheers.
You ask about lot size and forgot leverage.
Would say that is a bad oversight for the two go hand in hand.
Have posted previously to use max leverage that broker has to offer and be done with it. It had the side effect of very stressful trading environment which was not very nice to trade in. One mistake like Friday and the account will face margin call.

It was not worth the effort. The more the leverage come down the better the environment become. I kept the small lot size and settle for 1:100 leverage. It allows the market to breath. Wrong trades are not costly to close. The other side is also a reality. The account grow very slowly. Well nothing stop a trader to add a trade when in profit.

With low leverage a trade can also increase the lot size to the size he /she can tolerate to trade with and still be in full control of any runaway trade.
-------------
Most web page recommend 1 to 2% of account.
That will be 1000*2% = 20. From the start I did not like the 2% for one loss will and has wiped out my account, not once but three times. So I did this:
In ZAR with 1:100 leverage in a micro account
R 1000.00/100/10 = R 1.00
R 500.00/100/10 = R 0.50
R 300.00/100/10 = R 0.30
----------
Please google for more info because this work's for me and I am happy to trade like that.
  • #86,397
  • Edited 1:57am Mar 26, 2018 1:05am | Edited 1:57am
First trade Monday.
#686
Trend... long term and short term...
I take a chart and make the candles as small as they will go to find the direction of the long term trend...
Then I enlarge them to my normal trading size for the current short term trend...
If they are the same I feel I have better odds on my side...
if they are opposite I may trade less lots per trade...
I will pay more attention to the last swing (candle size & length)...
Attached Image

Miss the entry by one bar.
Just below S/R level
TDI angle is below 4
TDI few mm above level 50
Stoch down
Below 5EMA
Candle's and wick's are all over the show.

It becomes second nature when you do them over and over again. Later you will also be able to "glance" at the chart. For now do it the slow way, train yourself (brain) what look for, how to understand it
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  • #86,398
  • Mar 26, 2018 2:31am Mar 26, 2018 2:31am
EURUSD Week 13 Mar 26

Just one screen, one picture with multi-chart view.

Today London open one hour earlier after the weekend DayLight Saving Time shift. Beware of fakey setups between Sydney close and Frankfurt open.



Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD Week 13 Mar 26 BPP.png Size: 71 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #86,399
  • Mar 26, 2018 2:46am Mar 26, 2018 2:46am
Here is an example what is high probability trades.
If you trading timeframe is H4, then your higher timeframes for short term and long term trends are the D1 and W1.
But you have to do your own analysis and know where the recent support is when you are selling AN today.
It can bounce at support and also it is month end trading this week, sellers to exit the market and price will retrace and form the MN lower shadow. It is still too early, it is only Monday and MN will close on this Friday.


Attached Image (click to enlarge)
Click to Enlarge Name: AUDNZD Week 13 Mar 26.png Size: 67 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #86,400
  • Mar 26, 2018 2:57am Mar 26, 2018 2:57am
USDJPY Week 13 Mar 26

Here is another example where buying into resistance above will cause you unnecessary stress.

Pick pairs that go with the flow.
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPY Week 13 Mar 26 BPP.png Size: 63 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
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