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Trading Made Simple

  • #89,081
  • Aug 2, 2018 9:02am Aug 2, 2018 9:02am
I also like the Reversal on GBPJPY.
There was a nice Cross and a Double Bar High with Lower close across the 10EMA which was good enough for me to take 70 pips. I had to close trade before GBP Red news was presented.
Now I am searching for a strong M5 move down in the next 24 hours for me to consider taking another short soon.
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Trading thin liquidity at the boundary of the charts
  • #89,082
  • Aug 2, 2018 9:56am Aug 2, 2018 9:56am
I have a holiday coming up and wonder what members would recommend for Forex trading reading material.

There have been many books posted here. If there is just one PDF book you would take to read again and why?
  • #89,083
  • Aug 2, 2018 11:18am Aug 2, 2018 11:18am
Quoting lddd
{quote} I think you don’t see the big picture and what I am trying to say. The decrease of volatility affects day traders trying to make like 20 pips if they risk 10 dramatically if the average you can get is that movement is already 50% of what you can expect to see the market is moving. Just tell me how many of these „high profibility trades“ based on the TMS you have done for the ongoing week? It’s Thursday and for me i got 0 so far watching charts every day from the H4 to the M15. How many good trades there have been ? 1,2?
??????
I see from your post's over at TMS for M30 charts you have been asking the same questions.
One post stood out that you are not serious about learning to trade. Apologies Iddd for saying this: You want us to do your homework, study for you and give feedback on the results. That aren't going to happen. Emmanuel gave you more then enough information, now you better find that time you don't have.
-----
Quoting Khangfm
{quote} You ask way too much, how many pages did you read? Re-read again and again.
Sorry but i donīt have time to read through 893 pages... Also things might have changed so i donīt see a problem with asking questions.

Quoting nigpig
I have a holiday coming up and wonder what members would recommend for Forex trading reading material. There have been many books posted here. If there is just one PDF book you would take to read again and why?
TMS BigE full.pdf
Always something that went unnoticed or did not understood fully the previous read. As you become more familiarized with the method the better is the understanding of what is posted.
  • #89,084
  • Aug 2, 2018 12:15pm Aug 2, 2018 12:15pm
Here trade from my live account, NOT DEMO!

Running +77 pips.

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  • #89,085
  • Aug 2, 2018 1:17pm Aug 2, 2018 1:17pm
GBPJPY tf H1 bullish heading 146.506
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The more you know cryptocurrency, the more you realize forex is much better
  • #89,086
  • Aug 2, 2018 1:17pm Aug 2, 2018 1:17pm
Will try to share this data on-time... next time every Saturday or Sunday or early Monday.

CoT data (Legacy):
No fundamental or macroeconomic factor, sentiment or behavioral analysis and price-volume & market profile structure considered. The CoT based bias on this table may have become unreliable for various reasons, including changes in the market conditions or economic circumstances.

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Since Frank Sinatra sings in his own way, my chart sing... I did it, my way
  • #89,087
  • Aug 2, 2018 2:26pm Aug 2, 2018 2:26pm
Quoting DJsignals
Here trade from my live account, NOT DEMO! Running +77 pips. {image}
The entry is quiet far away from the TDI cross or i canīt see it properly.
  • #89,088
  • Aug 2, 2018 6:00pm Aug 2, 2018 6:00pm
Quoting nigpig
I have a holiday coming up and wonder what members would recommend for Forex trading reading material. There have been many books posted here. If there is just one PDF book you would take to read again and why?
start with this book.

buy the print copy... worth the money.

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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #89,089
  • Aug 2, 2018 6:06pm Aug 2, 2018 6:06pm
Quoting DJsignals
Here trade from my live account, NOT DEMO! Running +77 pips. {image}

Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #89,090
  • Aug 2, 2018 6:36pm Aug 2, 2018 6:36pm
Quoting lddd
{quote} The entry is quiet far away from the TDI cross or i canīt see it properly.
@lddd

You have been in FF since May 2009,

If you had paid attention and do your own work, you will learn quicker like many others.

those who are patient and follow since May 21 would have harvested lots of pips.

https://www.forexfactory.com/showthr...8#post11080798

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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #89,091
  • Aug 2, 2018 7:09pm Aug 2, 2018 7:09pm
Did Big E posted anything about trading psychology?

If you had read all his posts here in FF, you would know.

here is just one example where he used cut-and-paste, from Lance Beggs.

https://www.forexfactory.com/showthr...08#post2288808
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #89,092
  • Aug 2, 2018 9:24pm Aug 2, 2018 9:24pm
Quoting lddd
{quote} The entry is quiet far away from the TDI cross or i canīt see it properly.
Here the answer.
Post 89,090
  • #89,093
  • Aug 2, 2018 9:24pm Aug 2, 2018 9:24pm
Quoting emmanuel7788
{quote} @lddd You have been in FF since May 2009, If you had paid attention and do your own work, you will learn quicker like many others. those who are patient and follow since May 21 would have harvested lots of pips. https://www.forexfactory.com/showthr...8#post11080798 {image}
Perfect
  • #89,094
  • Aug 2, 2018 10:29pm Aug 2, 2018 10:29pm
What missing in this thread?

Its risk management.
Its risk reward.
Its risk of ruin.
  • #89,095
  • Aug 3, 2018 3:52am Aug 3, 2018 3:52am
I think risk management is KING.

I think the reason why small amount of trader still survive in the market is because of respect towards risk.

If we pay attention to risk management, we can stay in this game for a long time.

I think, we do not need 85% accuracy in every trade.
maybe 35%-55% accuracy is enough, will be profitable in the end.
But if we manage risk reward, and risk of ruin.

Successful trading = 60% emotion + 30% money management + 10% strategy.

10% strategy we have TMS here.
30% money management is that rare to disscuss here.
60% emotion alot of book and video shared here.

Even profesional trader dont have accuracy 85%.

Eelfranz claiming 85% accuracy, its to soon, its need large sample of trade to said that.
I bet 85% is short run for eelfranz, because he is used 10% risk.
But in long run? I bet he wont make it.

I think we dont need to forced to have 85% accuracy like eelfranz said.
I bet in TMS thread, average only have accuracy below 60%.
Im too, i only have accuracy like 50%.

So how we can survive this market?
We need risk management that suit our entry style and personality.
and also we need our stoploss place correctly.

NOTE: Im not teaching, im not expert, this is only my view after learn risk of ruin.
  • #89,096
  • Aug 3, 2018 4:23am Aug 3, 2018 4:23am
Becareful with aiming R:R = 1:1

We need to study our accuracy, before applied that 1:1 risk reward.

Even with 1% risk per trade, and 50% accuracy, and risk reward 1:1.
We still faced possibility that our account have chance 100% of ruin.
See table below.

How to aviod that?
If we have 50% accuracy.
We need raise risk reward to 1:2.
and then risk of ruin became zero percent (0%).
We need to measured our trade must have minimum potential profit 1:2 risk reward.
If that trade dont have 1:2 risk reward, then dont take that trade.
Example below, trade with R:R = 1:2,7.

So after applied this risk management, we will survive in the market.
If we doing this with discipline, we will survived.
DO NOT risking our capital more than 1%.

Then the profit will be small according to our capital example $1000? You ask.
My answer is YES!
In this game we need big money to make big money.

Dont dreaming to rich fast.

NOTE: Im not teaching, im not expert, this is only my view after learn risk of ruin.

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  • #89,097
  • Aug 3, 2018 5:45am Aug 3, 2018 5:45am
Quoting DJsignals
Becareful with aiming R:R = 1:1 We need to study our accuracy, before applied that 1:1 risk reward. Even with 1% risk per trade, and 50% accuracy, and risk reward 1:1. We still faced possibility that our account have chance 100% of ruin. See table below. How to aviod that? If we have 50% accuracy. We need raise risk reward to 1:2. and then risk of ruin became zero percent (0%). We need to measured our trade must have minimum potential profit 1:2 risk reward. If that trade dont have 1:2 risk reward, then dont take that trade. Example below, trade...
Sweet... :-)
  • #89,098
  • Aug 3, 2018 6:14am Aug 3, 2018 6:14am
Quoting DJsignals
Becareful with aiming R:R = 1:1 We need to study our accuracy, before applied that 1:1 risk reward. Even with 1% risk per trade, and 50% accuracy, and risk reward 1:1. We still faced possibility that our account have chance 100% of ruin. See table below. How to aviod that? If we have 50% accuracy. We need raise risk reward to 1:2. and then risk of ruin became zero percent (0%). We need to measured our trade must have minimum potential profit 1:2 risk reward. If that trade dont have 1:2 risk reward, then dont take that trade. Example below, trade...
Don't understand half of what you have posted.
Leverage is important and how much is used of balance per lot size. That is understandable.

But this make no sense at all: " If that trade dont have 1:2 risk reward, then dont take that trade."
Basically how do you know the outcome of every trade to apply risk reward before placing a order?
  • #89,099
  • Aug 3, 2018 6:26am Aug 3, 2018 6:26am
Last trades for me used to be all winners but on the M30. So far didnīt catch any H4 Signal.

What about a H4 candle established during/because of news came out. Does this affect entering on such setup yes/no?

Hereīs an example for GU currently forming a "possible" long entry on the H4 (if i get this right..)

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  • #89,100
  • Aug 3, 2018 6:36am Aug 3, 2018 6:36am
Quoting Tekkies
{quote} Don't understand half of what you have posted. Leverage is important and how much is used of balance per lot size. That is understandable. But this make no sense at all: " If that trade dont have 1:2 risk reward, then dont take that trade." Basically how do you know the outcome of every trade to apply risk reward before placing a order?
Do not bother too much about leverage because its irrelevant for single entry single exit.
Because with only risking 1% per trade, leverage is has zero relevance.
Focus on how much you can lose per trade, and adopt correct position size for it.
Leverage is relevant if you using multiple entry like averaging your position.

Your question:
Basically how do you know the outcome of every trade to apply risk reward before placing a order?

My answer:
To apply risk reward, i already explain on picture above on gbpusd chart.
If you can not understand that, i dont know another way to explain to you.
Basically, before you take the trade, you know where is stoploss and where is your target price, right?
And then used that for calculating your risk reward ratio.
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