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Trading Made Simple

  • #90,441
  • Sep 4, 2018 8:04am Sep 4, 2018 8:04am
Quoting fxterrapin
{quote} You are not making this return without significant tail risk on a larger account. FX simply isn't that liquid, although people think it is. This is risk you cannot manage or control. Remember that liquidity gaps occur without notice and trigger your stops at prices you do not want to sell at, sometimes at a signifiant loss (see CHF in 2015 or GBP shortly after, among other examples). You can probably make 50% on a very small account with less risk, but what's the point if you cannot scale? Again, this is a game for well-capitalized traders...
Do you have further reading on this? Is this your observation or have you evidence? If this is indeed true, why are you trading?
I don't ask in an attempt to challenge you; I'd like to understand more
  • #90,442
  • Sep 4, 2018 8:21am Sep 4, 2018 8:21am
But that doesn't mean we can't trade manually because we need to trade this way as well.
We need to understand price action etc. to get that feel for the market before we could understand how to create a good EA. This evening using PA I have gathered 220 pips on GBPUSD / EURJPY / EURNZD / USDCAD / GBPJPY while planning my next strategy.

But lets be honest, no one cares.
I don't care either.
Tomorrow night it could be a lost.

This is the point of trading with EA's,

ONLY THE YEARLY RESULT MATTERS - TODAY'S RESULTS DO NOT MATTER
Attached Image (click to enlarge)
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Trading thin liquidity at the boundary of the charts
  • #90,443
  • Sep 4, 2018 11:33am Sep 4, 2018 11:33am
Quoting emmanuel7788
{quote} TMS Monitor Pipware multi-charts lookup these posts below. Post#76,270 for the pipware tool and Post#193 for the TMS Monitor tool setup your charts with those simple tools the way you want to see them and use them. save them as your own templates. most important is you know the 5-Method and how to trade the 5-Method. make sure you read those threads for more information how to set up...
Thanks
THE DIFFERENCE BETWEEN GOOD AND EXCELLENT IS ATTENTION TO DETAILS.
  • #90,444
  • Edited 1:56pm Sep 4, 2018 1:38pm | Edited 1:56pm
Quoting onejester
{quote} I'm as bored with the spam posts as much as anyone. But just cos you have a mental illness, doesn't mean that you don't have have skills that can in some instances outweigh that of individuals who are classed by 'society' as 'normal'. Agreed, there needs to be some accountability in terms of performance. I went out with a girl who suffered with mental illness, she was as nutty as a fruitcake. But she was one smart off the scale mf, had to respect her for that. Her career was in nursing, but she was so obsessive about detail - no standard...
OCD can be a good thing, a lot of CEO types have it. It was the schizo affective disorder that made me perk up. If treatment is ongoing that's one thing, if not, well......

It explains why the sufferer cannot leave the thread, and lacks the self esteem to start their own. It explains why they throw all kinds of ideas at the wall to see what sticks. It explains the conflated sense of self importance. It explains some fairly obvious fabrications. I am not saying that mentally ill people should be locked up and the key lost, but I am saying it is good to know who you are dealing with.

Quoting realjumper
{quote} I agree with you, up to a point. Of course there is no way to prevent human greed and stupidity, but FF provides the vehicle (this website) that allows the scammer to meet the victim(s). In my opinion, if FF doesn't do all that is in it's power to legitimize those who post with trading systems by way of a forced TE, then it is itself complicit in any deception...moreso as FF makes money off the backs of the members.
I look at FF like any other market maker. They make a market of ideas, and they have absolutely zero incentive to get into the morality business and reduce eyeballs. The more eyeballs, the better for them. Like a level two book, some of the the ideas are good and close to the market, others are terrible. What is your thought on a market maker undoing a fat finger episode that a trader would make, or just flat out buying a stock with a negative cash flow?

That is why I don't give FF too much flack. I feel that an aspiring trader's first lesson is to overcome the greed/fear cycle, and the second one is diligence. When I was starting out, I bought courses, but I could not even read the financial pages of the newspaper back then and I had to start somewhere. There was no FF back then. No way to get any ideas of any sort.

I think members like you and others are helping to keep the neighborhood clean and free from crime. The more of us that are on the scam watch, the more information can be provided about what to look for. I understand clearly that you want some police in our neighborhood, but they are not going to do that, so it is up to us to expose and report.

Quoting RickM
But that doesn't mean we can't trade manually because we need to trade this way as well. We need to understand price action etc. to get that feel for the market before we could understand how to create a good EA. This evening using PA I have gathered 220 pips on GBPUSD / EURJPY / EURNZD / USDCAD / GBPJPY while planning my next strategy. But lets be honest, no one cares. I don't care either. Tomorrow night it could be a lost. This is the point of trading with EA's, ONLY THE YEARLY RESULT MATTERS - TODAY'S RESULTS DO NOT MATTER {image}
I admire anyone who can trade with an EA. I do not trust those things.
If you are good at something, never do it for free--Joker
  • #90,445
  • Sep 4, 2018 6:41pm Sep 4, 2018 6:41pm
Quoting RickM
{quote} Hi FXterrapin Your'e looking at this as a manual trader with a single strategy on a single account. Using this thought process allows your broker to greatly profit of your account unless your a great trader. I'm not a great trader but street wise. My risk is spread out over many many markets as I'm trading with 8 EA's with 8 different strategys. Each EA is designed to compliment each others weakness. You would compile say three trending strategy's, two ranging strategy's, two reversal strategy's and one MEME strategy Emmanual talks about....

Even traders of E/U fell into a liquidity gap when CHF went crazy, but that is besides the point. Diversifying does remove some of the liquidity gap risk, true.

However, now you are facing an increase in directional risk due to having to time multiple markets.

Are you saying that you are able to anticipate the continuous switching between ranging and trading markets over a long period of time? If so how??
  • #90,446
  • Sep 4, 2018 6:45pm Sep 4, 2018 6:45pm
Quoting MaxZen
{quote} Do you have further reading on this? Is this your observation or have you evidence? If this is indeed true, why are you trading? I don't ask in an attempt to challenge you; I'd like to understand more


There was an article by Oanda a while back on this, showing that while E/U had high liquidity, USD/CAD only had a fraction of that liquidity. In other words, good luck trying to apply your strategies with scale with any other markets than E/U.

It's a fact that liquidity is not evenly distributed over time in FX. You simply can't know that when your stop gets triggered that you will exit at the price you want.
And the longer you trade, the more of these gaps you will encounter.

Again, you can make a return. 20-30% if you are good. This is not enough for most traders.
  • #90,447
  • Sep 4, 2018 8:04pm Sep 4, 2018 8:04pm
Quoting catalin_eros
{quote} Hi, Emm! I have to admit I am intrigued by your post. Isn't that selling into strong W1 support? Wouldn't it be safer to wait for the level to be broken, then a retest, and then a PA signal, making it PASR? {image}

Hi catalin,

There is no PASR in TMS. TMS is Price Action trading and the use of Support and Resistance and following with mechanical rules using both the TDI and Stochastics.
Also some people confused PASR with PSAR.

Nice H4 chart you posted.
You are looking at H4. I am swing trading on D1 and I see support too. I am selling between levels - 1.6450 to 1.4450, monthly swing levels. In between thse levels are weekly S&R, daily S&R, but the H4 S&R have less importance because there are 4 timed S&R in the H4 timframe.

How to deal with support and resistance? Like Big E said in his old thread, use them as target for your take profit. But we also need to look at PA using the HA candles in relation to the 5EMA and know when to stay in the trade(s) and when to pull out.

An example is this post in his old thread. It is H4 but it can also apply on Daily charts.
Pay attention to Big E comment 'resting' , see those price bars, they are Inside Bars and also a Master Candle ...I see them as CONSOLIDATION. Do Not trade in that timeframe where there is CONSOLIATION. Trade one timeframe lower.

Attached Image (click to enlarge)
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In the case of my EU trade, I have profit lock as one of my parameter. When price hit support and bounce back, profit lock will use the TDI M5 cross to exit with some profits. So far I have banked in 35 pips since Monday market open. PA can bounce several times for that support.

Also read Big E old thread post 4278 below

Look at PA using the HA candles and how PA reacts at the 5EMA.

Attached Image (click to enlarge)
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Trade Well.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #90,448
  • Sep 4, 2018 8:12pm Sep 4, 2018 8:12pm
It is 6am Portland time and Big E's trading time.

TMS Monitor Sep 05 Sydney, only EJ show a valid H4 but it is the 4th Ha candle. Big E won't take that.

Attached Image (click to enlarge)
Click to Enlarge Name: TMS Monitor Sep 05 6am Portland.png Size: 51 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #90,449
  • Sep 4, 2018 8:32pm Sep 4, 2018 8:32pm
Quoting Tekkies
{quote} Nice trading Emmanuel. Any hard stop loss?

use stealth mode stop loss by Steve Hopwood... MPTM tade manager

and

also use Capital Protection
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #90,450
  • Sep 4, 2018 8:34pm Sep 4, 2018 8:34pm
Quoting mistakesr
{quote} I sincerely hope it goes well Emanuel but isn't that a bit close to fairly major support?

1.1539 is another major trigger for sell.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #90,451
  • Sep 4, 2018 8:49pm Sep 4, 2018 8:49pm
Easy money with TDI facing 1 o'clock
Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 26 KB
THE DIFFERENCE BETWEEN GOOD AND EXCELLENT IS ATTENTION TO DETAILS.
  • #90,452
  • Sep 4, 2018 8:50pm Sep 4, 2018 8:50pm
Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 28 KB
THE DIFFERENCE BETWEEN GOOD AND EXCELLENT IS ATTENTION TO DETAILS.
  • #90,453
  • Edited 9:09pm Sep 4, 2018 8:53pm | Edited 9:09pm
Quoting fxterrapin
{quote} Even traders of E/U fell into a liquidity gap when CHF went crazy, but that is besides the point. Diversifying does remove some of the liquidity gap risk, true. However, now you are facing an increase in directional risk due to having to time multiple markets. Are you saying that you are able to anticipate the continuous switching between ranging and trading markets over a long period of time? If so how??
First of all I never trade CHF pairs so that’s the main problem solved. However you are correct that lack of liquidity does affect the mechanical process of EA’s opening and closing trades Therefore we need a few months of live testing on the open market for us to understand the real probability of any EA. Interesting a major issue is small gaps at the start of the trading day can jump over signals the EA uses to trade. We simply budget for these issues and re code to help avoid most of these issues.The big players never make it easy for the little guys.
There is no way any one EA can profit during this switching between consolidation to trend movements so we just need to limit the losses why our ranging EA can make the pips. Still any EA can have a bad month so we need to balance our income evenly between your portfolio over a 12 month period.
Trading thin liquidity at the boundary of the charts
  • #90,454
  • Sep 4, 2018 10:13pm Sep 4, 2018 10:13pm
Quoting jmn5611
I look at FF like any other market maker. They make a market of ideas, and they have absolutely zero incentive to get into the morality business and reduce eyeballs. The more eyeballs, the better for them. Like a level two book, some of the the ideas are good and close to the market, others are terrible. What is your thought on a market maker undoing a fat finger episode that a trader would make, or just flat out buying a stock with a negative cash flow? That is why I don't give FF too much flack. I feel that an aspiring trader's first lesson is...
Well yeah, as I mentioned, FF is a commercial website, and as such, they put their own interests 'front and centre.' I understand that, although I don't agree with many of their practices......one being the seemingly over zealous censorship in the News section, compared to just about nil on forums. I cannot even have the courtesy of a reply from Twee when I submit a Clean Up report.....which is pretty much par for the course at FF in the past 5 years more or less.

With fat finger events, and SNB pulling the pin on the peg type events, everyone down the chain suffers to a certain degree. Us retail traders are the bottom feeders and so it's up to us to protect our accounts as best we can. Those who don't use a SL have to accept the consequences. Those who got burned in the SNB event would not have been saved by the SL, but I also have little sympathy with them as they were playing with fire. SNB have been interfering with the Free Floating Market model for a very long time and I for one, would never, and never have, trade any CHF cross pair. The SNB is the worst of the worst imo. However, I digress!!

Without some form of proof, as best we can, by way of a TE, or MyFXbook or whatever, I view ALL claims as highly suspect, and that includes individual claims like, "I just closed a basket for 346 pips", as well a system claim of profitability. In essence, 'show a trade explorer or it didn't happen!'

As I said, seeing as we, the members, make the FF website what it is, and that is commercially successful, then we the members, should expect to be treated consistently, respectfully and honestly and we should expect that this place is at least doing what it can to ensure that the systems they allow to be presented here, can prove their worth via their own TE application, or another like Myfxbook etc etc

As you said though, that won't happen and that's why this place becomes more of a joke every day.
Doing what you like is Freedom. Liking what you do is Happiness.
  • #90,455
  • Sep 4, 2018 10:20pm Sep 4, 2018 10:20pm
Quoting emmanuel7788
{quote} use stealth mode stop loss by Steve Hopwood... MPTM tade manager and also use Capital Protection
This whole 'broker stop loss hunting' is a bit of a joke really, it's a myth for the most part. Brokers do not have the power to spike the market, let's be clear on that. Do they have the power to cause a spike in their own MT4 platform? Yes, I'm sure they do. If your SL gets taken out by a spike, it's very easy to check that against other platforms to see if the spike was genuine or not. If it's not genuine, get rid of the bucketshop broker and use a proper broker. It is not in the brokers interest to kill your account!!

I see this whole debate come up time and time again, and for the most part, it's people not understanding how the SL got hit (especially news times) when the candle never got to their SL. Simply, put the Bid and the ASK lines on your chart and learn how it depends on whether you're buying or selling as to which line trips your SL.
Doing what you like is Freedom. Liking what you do is Happiness.
  • #90,456
  • Sep 4, 2018 10:52pm Sep 4, 2018 10:52pm
Why do stop loss get taken and take profit avoid?
Google "place stop loss"
Almost all webpage say the same:
- Use S/R, HH, HL, ATR, ADR, Fibb or Pivot.
Those traders that can move the market read the same web page, they know where cluster's of stop loss will be.
Fell into that trap last week.
Attached Image
  • #90,457
  • Sep 4, 2018 11:18pm Sep 4, 2018 11:18pm
Quoting realjumper
{quote} Well yeah, as I mentioned, FF is a commercial website, and as such, they put their own interests 'front and centre.' I understand that, although I don't agree with many of their practices......one being the seemingly over zealous censorship in the News section, compared to just about nil on forums. I cannot even have the courtesy of a reply from Twee when I submit a Clean Up report.....which is pretty much par for the course at FF in the past 5 years more or less. With fat finger events, and SNB pulling the pin on the peg type events, everyone...
Question is will anyone post last month stats? Either TE or MyFxbook. One month of solid trading should show at least a little...
You will learn the most from your losing Trades
  • #90,458
  • Sep 4, 2018 11:31pm Sep 4, 2018 11:31pm
Quoting Chenzo25
{quote} Question is will anyone post last month stats? Either TE or MyFxbook. One month of solid trading should show at least a little...
Why?
  • #90,459
  • Sep 4, 2018 11:32pm Sep 4, 2018 11:32pm
Quoting Tekkies
{quote} Why?
Why Not?
You will learn the most from your losing Trades
  • #90,460
  • Sep 4, 2018 11:33pm Sep 4, 2018 11:33pm
Quoting Tekkies
{quote} Why?
Why should Demo Traders give advice? Why should losing traders open threads? Why should traders who don't know how to trade help others?
You will learn the most from your losing Trades
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