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Trading Made Simple

  • #92,061
  • Oct 18, 2018 11:26am Oct 18, 2018 11:26am
Quoting SmartKenya
For the naysayers.. BigE Method just works.. Sometime it fails but most of the time it works. {image}
Good for you. But these are only a few trades. To say something works in general you might want to present the last 2 years trades instead.
  • #92,062
  • Oct 18, 2018 11:36am Oct 18, 2018 11:36am
Quoting SmartKenya
For the naysayers.. BigE Method just works.. Sometime it fails but most of the time it works. {image} {image}
What the ProfitKeeper EA on your chart do ?
  • #92,063
  • Oct 18, 2018 11:41am Oct 18, 2018 11:41am
Quoting VanTharp
The biggest challenge I have when trading this method is to determine S/R levels; because whenever I look left for S/R I always find one. How do you guys determine which S/R levels are likely to hold and which aren't?
Yes, there is a lot of SR-levels and it's important to know the strongest ones. I do not use TMS but for mine system I draw the levels for the 2 higher time frames from my trading timeframe. I trade 4h so I draw weekly and daily. The strongest is weekly. I use different color so I can difference between weekly and daily. On the 4h i do not draw levels but I will notice if there is any level that look clear and that isn't visible on daily.

I prefer to draw the levels on candle chart. I know there are many that use line chart but then you only see the close price and not wicks.

Regards

Paal
  • #92,064
  • Oct 18, 2018 11:52am Oct 18, 2018 11:52am
Quoting lddd
{quote} Good for you. But these are only a few trades. To say something works in general you might want to present the last 2 years trades instead.
Yes it is few trades I know but I started using TMS a while back played very well but left FX due to time now am back and ready... I have my tricks that am still working on so yes again to the naysayers if you follow the system and stop second guessing you will always have something to smile about everyday...
  • #92,065
  • Oct 18, 2018 11:54am Oct 18, 2018 11:54am
Quoting ING.WIZARD
{quote} What the ProfitKeeper EA on your chart do ?
It just a code to close my trades when it reaches my targeted amount in cash..

Nothing much to it
  • #92,066
  • Oct 18, 2018 12:03pm Oct 18, 2018 12:03pm
Quoting SmartKenya
{quote} Yes it is few trades I know but I started using TMS a while back played very well but left FX due to time now am back and ready... I have my tricks that am still working on so yes again to the naysayers if you follow the system and stop second guessing you will always have something to smile about everyday...
I'm not trading this method but what I see it's work nice in trending market (we have had that in a couple of weeks now). I think the method at first glance looks easy but it's not easier than other systems. I also think if you are profitable with another system that require knowledge of price action it should be easy to trade this system profitable too.

Regards

Paal
  • #92,067
  • Edited 3:11pm Oct 18, 2018 2:59pm | Edited 3:11pm
Quoting anti-flash
{quote} No offense, but I assume it must be very hard trying to make a living trading this method in a cent account. {image}
1. Why oh why are the there so many people out there trying to turn this into a job?

2. In second and third world countries, a cent account will greatly augment their standard of living. Why do you think there are so many traders on here who do not speak good English?

Quoting onejester
{quote} Human emotion. That's why cars crash and men will never fully understand women.
Ha!

Cars crash because of a distracted driver 90% of the time, same reason that traders lose.

The average( there are many above average) woman is not driven by logic, this has been well documented throughout the history of writing. Many times she does not understand herself, and she will admit that if you ask her.

Quoting lddd
{quote} Good for you. But these are only a few trades. To say something works in general you might want to present the last 2 years trades instead.
But then you would say it was photo shopped.
If you are good at something, never do it for free--Joker
  • #92,068
  • Edited 3:29pm Oct 18, 2018 3:10pm | Edited 3:29pm
Quoting jmn5611
{quote} ... third world countries, a cent account will greatly augment their standard of living..
It will not... electricity plus internet cost is way too much

Quoting jmn5611
{quote} Why do you think there are so many traders on here who do not speak good English? {quote}
I think they need to consider that there are actually a lot of people from English speaking countries having difficulties in speaking or constructing their own sentences properly.
Since Frank Sinatra sings in his own way, my chart sing... I did it, my way
  • #92,069
  • Edited 4:05pm Oct 18, 2018 3:37pm | Edited 4:05pm
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What about this H4 trade? The H4 chart here is more like sideways than doing lower lows. But the Daily Chart making lower lows. So i took this short opportunity.

However i was not checking for S/R either on Daily or H4. Also i didn´t care about the TDI green angle at the crossover or the levels of TDI or Stoch 68,32, 80,20 (Still do not really understand these, to me they just don´t tell much as price doesn´t seems to respect these levels more often than not).

So i just took the trade mainly due to the facts "the market structure" looked "okay" to me e.g not ranging with big candles and large wicks up and down at the execution TF (H4) and within the overall direction (down) on the longer-term picture (Daily).

Now did i got this correct? Let me know what you think, and what about the average 5-8 HA candle runs here? Looking at the last down swings these runs were more like 3 HA candles and now the trade is already candle 3 but i entered on the second bearish candle. If you look to the left there was one larger bearish move resulting in more bearish HA candles (so a longer down "trend") BUT you never know if the trade you took will also be one of such larger moves...
  • #92,070
  • Edited 4:25pm Oct 18, 2018 3:57pm | Edited 4:25pm
Quoting jmn5611
1. Why oh why are the there so many people out there trying to turn this into a job?
Because not everyone is already half dead, retired, trading for a pastime or as a long term investment :-) If you are in your best years its just comprehensibly looking for ways spending as less time possible working 8-10 hours a day for somebody´s else pockets, if in the end they also will end up poor retired, half dead and then find out trading for a pastime .

And yes, there are for sure easier ways to achieve this but i think it´s one legitime way of many. You know there are a million ways to make a million dollars, do what you like...

Quoting jmn5611
But then you would say it was photo shopped.
I didn´t make any requests. If I had done that I would not be the type of guy blaming it on photoshop in retrospect. I commented to remind him not falling into euphoria because of a few postive trading results.
  • #92,071
  • Oct 18, 2018 5:37pm Oct 18, 2018 5:37pm
For all the technical analyse hardliners here this just gave me an interesting read, what you think about it?

https://seekingalpha.com/article/412...alysis-useless
  • #92,072
  • Oct 18, 2018 5:58pm Oct 18, 2018 5:58pm
Quoting v2vboni
{quote} It will not... electricity plus internet cost is way too much {quote} I think they need to consider that there are actually a lot of people from English speaking countries having difficulties in speaking or constructing their own sentences properly.
Augment is an English word that means to improve. It does not mean change. There are people making 5 dollars US a day. If they could make another dollar a day, that would be a significant improvement.That is a 20% increase in monthly wage, that will improve anyone's circumstances anywhere.

Quoting lddd
{quote} Because not everyone is already half dead, retired, trading for a pastime or as a long term investment :-) If you are in your best years its just comprehensibly looking for ways spending as less time possible working 8-10 hours a day for somebody´s else pockets, if in the end they also will end up poor retired, half dead and then find out trading for a pastime . And yes, there are for sure easier ways to achieve this but i think it´s one legitime way of many. You know there are a million ways to make a million...
Why oh why does every kid under 40 think everyone over 40 is "half dead"?

If you are that concerned with working 8-10 hours a day working for someone else, become a professional at something and work 8-10 hours for yourself. It will be much easier than trying to pull a wage from any sort of market. Some of us are hobby traders because we were smart enough to choose the right career in our early years, made money and investments in our best years, and now we get to smile at the rest of you.

Quoting lddd
For all the technical analyse hardliners here this just gave me an interesting read, what you think about it? https://seekingalpha.com/article/412...alysis-useless
I think you found another commercial. This guy has to put one thing down to build up his scheme. Then he sites a single example with absolutely no citation of source or analysis of technique. Makes me wonder if college was an option for this guy. This article would fail any first year composition course.
If you are good at something, never do it for free--Joker
  • #92,073
  • Oct 18, 2018 6:18pm Oct 18, 2018 6:18pm
Quoting lddd
For all the technical analyse hardliners here this just gave me an interesting read, what you think about it? https://seekingalpha.com/article/412...alysis-useless
Bullshit

Then he goes on to say traders who read his newsletter make money. The reason most traders don’t profit from forex is that have been trading for too short period of time then give up. Their numbers sway the ledge to many more losers than winners. It took me 5 years to start creating a income stream, most foolishly believe they can make a million dollars from year 1.
Trading thin liquidity at the boundary of the charts
  • #92,074
  • Oct 18, 2018 6:21pm Oct 18, 2018 6:21pm
I agree with that. It took me since 2012 and only just as of last week I completed my grail.
  • #92,075
  • Oct 18, 2018 6:39pm Oct 18, 2018 6:39pm
Quoting lddd
For all the technical analyse hardliners here this just gave me an interesting read, what you think about it? https://seekingalpha.com/article/412...alysis-useless

Stupid article!
  • #92,076
  • Oct 18, 2018 9:05pm Oct 18, 2018 9:05pm
Quoting jmn5611
{quote} 1. Why oh why are the there so many people out there trying to turn this into a job? 2. In second and third world countries, a cent account will greatly augment their standard of living. Why do you think there are so many traders on here who do not speak good English? {quote} Ha! Cars crash because of a distracted driver 90% of the time, same reason that traders lose. The average( there are many above average) woman is not driven by logic, this has been well documented throughout the history of writing. Many times she does not understand...

You know I have friends who do nothing else but forex and a running very well. The trick is taking forex like a regular job and treat it as it supposed to be treated.

I believe the best way to demo forex is to open a cents account rather than trying to trade with a 10,000 -100,000 demo account just get a 1000cents account as it is close to realistic to what you might start with.

Quoting kirinda
{quote} I'm not trading this method but what I see it's work nice in trending market (we have had that in a couple of weeks now). I think the method at first glance looks easy but it's not easier than other systems. I also think if you are profitable with another system that require knowledge of price action it should be easy to trade this system profitable too.
Regards
Paal
Lets not complicate the method yes it works and works very well on a trending market but why do you want to go an trade on a market that is ranging? It all matters on you trading style and how well you understand FX. Pick your method and do not over complicate just as simple as that.

Lets make this work for us.. Lets ask right question and lets plan our trades accordingly.
  • #92,077
  • Edited 9:57pm Oct 18, 2018 9:13pm | Edited 9:57pm
Quoting jmn5611
{quote} Augment is an English word that means to improve. It does not mean change. There are people making 5 dollars US a day. If they could make another dollar a day, that would be a significant improvement.That is a 20% increase in monthly wage, that will improve anyone's circumstances anywhere
Oh... augment it is. And yes, probably in the U.S. and some other countries or places in the world, but not anywhere or anyone's circumstances in my opinion.

Anyway, I never said change, because it won't. I'm just stating the fact by having a cent account for trading will not "greatly augment" the standard of living (a degree of wealth & material comfort available to a person). It simply because the costs outweigh a dollar a day extra profit. Besides, the cent account is not made or meant for that at all, not unless or until one discovered a profitable/viable trading strategy and move on to a standard trading account that may eventually improve or even change his/her own standard of living.
Since Frank Sinatra sings in his own way, my chart sing... I did it, my way
  • #92,078
  • Oct 18, 2018 9:56pm Oct 18, 2018 9:56pm
Quoting v2vboni
{quote} Oh... augment it is. And yes, probably in the U.S. and some other countries or places in the world, but not anywhere or anyone's circumstances in my opinion. Anyway, I never said change, because it won't. I'm just stating the fact by having a cent account for trading will not greatly improve the standard of living (a degree of wealth & material comfort available to a person). It simply because the costs outweigh a dollar a day extra profit. Besides, the cent account is not made or meant for that at all.
You are from the DRP according to your profile. The average mall worker there makes about 400php a day, and I am rounding up. That is 8 dollars a day, again I am rounding up.

Are you suggesting that 30 extra dollars a month( one dollar a day) will not greatly augment their standard of living? Maybe if you live in Manila or central Cebu or Clark or Angeles City then not. For most of the rest of the country that is a decent amount of groceries and potable water. I would say that is a very significant improvement. An extra 1600 pesos is not something to sneeze at and many there would be most grateful for such an increase in income. You might be a Westerner living there and doing what you do, but to the regular people there, one dollar a day is a big deal.

Quoting SmartKenya
{quote} You know I have friends who do nothing else but forex and a running very well. The trick is taking forex like a regular job and treat it as it supposed to be treated. I believe the best way to demo forex is to open a cents account rather than trying to trade with a 10,000 -100,000 demo account just get a 1000cents account as it is close to realistic to what you might start with. {quote} Lets not complicate the method yes it works and works very well on a trending market but why do you want to go an trade on a market that is ranging? It all...
I would agree with you regarding trading and discipline as well as to start with a very small account. If a trader cannot turn one dollar into two, why in the world would they think they can turn 10K into 20K? The only difference is that the market is not going to give you a wage. And it may not give you a wage for a few months. During these periods of time, can a trader depending on FX for income not make trading errors? I seriously doubt it.
If you are good at something, never do it for free--Joker
  • #92,079
  • Oct 18, 2018 10:08pm Oct 18, 2018 10:08pm
Quoting jmn5611
{quote} You are from the DRP according to your profile. The average mall worker there makes about 400php a day, and I am rounding up. That is 8 dollars a day, again I am rounding up. Are you suggesting that 30 extra dollars a month( one dollar a day) will not greatly augment their standard of living? Maybe if you live in Manila or central Cebu or Clark or Angeles City then not. For most of the rest of the country that is a decent amount of groceries and potable water. I would say that is a very significant improvement. An extra 1600 pesos is not...
No, it will not... The Labor group here is asking for around 6 US dollars minimum wage increase. Right now, the inflation rate here is 6.2%. I've been to far-flung areas of the country and the Peso is so weak against the dollar at the moment.
Since Frank Sinatra sings in his own way, my chart sing... I did it, my way
  • #92,080
  • Oct 18, 2018 10:16pm Oct 18, 2018 10:16pm
Quoting jmn5611
{quote} You are from the DRP according to your profile. The average mall worker there makes about 400php a day, and I am rounding up. That is 8 dollars a day, again I am rounding up. Are you suggesting that 30 extra dollars a month( one dollar a day) will not greatly augment their standard of living? Maybe if you live in Manila or central Cebu or Clark or Angeles City then not. For most of the rest of the country that is a
Ydecent amount of groceries and potable water. I would say that is a very significant improvement. An extra 1600 pesos is...
Yes, you can depend on a income stream with forex trading in any market if you trade a few different strategy’s. Trending markets for me offer the least profitable results because markets spend maybe 2/3’s of the time with no major trend occurring. When there is no Major trend, we can trade the shit out of a ranging or reversing markets with ease. Check out AUDNZD, EURGBP, AUDUSD or a few others to see the profits need to come from any strategy that’s not Trend designed.
Trading thin liquidity at the boundary of the charts
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