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Trading Made Simple

  • #93,021
  • Jan 11, 2019 5:38am Jan 11, 2019 5:38am
After all the mud-slinging. Regardless of what get's posted use what ever float's your boat.
I follow the advice of BigE as how I understand them and it works for me.
In case the black dot's confuse a reader then he does not know how to apply Post#647
There are many chart's posted that show where, how to look.
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  • #93,022
  • Jan 11, 2019 8:00am Jan 11, 2019 8:00am
Quoting emmanuel7788
{quote} DCA is One TMS old timer taught us in 2014 about this and we have implemented this in our TMS MEME trading. He could maintain 20 consecutive months 10% consistent profit.
Just to confirm. DCA is MEME?
Play the hand you were dealt.
  • #93,023
  • Edited 8:27am Jan 11, 2019 8:15am | Edited 8:27am
For quite some time, I was trading "immediate reaction to TLs and S/Rs on weekly, daily, H4 time frames. So for example I would locate a wedge on weekly/Daily time frame and trade the bounce off the boundaries. I did not care how far price will go. I only cared about the immediate bounce.
However, I was trying to confirm my entry on LTfs by small PA patterns or by divergence, etc..
I was also looking for a system to give me this confirmation on LTF for such type of setups. They are reversals by nature and risky.

I was testing TMS on some charts and I found this interesting one of USDCHF.

On daily chart, we had a downtrend until price met the upward trend line. At this moment I would be looking for any sign of reversal . I am quite sure there will be a bounce for a hefty amount of pips. The only challenge was where to put the stoploss so as not to get hit with a spike or a fakey.

see below
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On H1 chart, price passed the checklist--TDI crossing at the vertical line, stochastics crossing at good level, price closed above EMA, etc...

see below
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Preferably, I would like the TMS setup be on H4...But in this case, it was bit late from the immediate bounce. The entry would be on the following candle to the vertical line. I moved the vertical line to where the cross is. ----Unless you would enter while the candle is forming and TDI shows the cross.

see below...
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Any way, this example was very clean and clear one. Many bounces are 'Zigzag'y by nature and this would allow confirmation on H4 and more trades in the small waves forming.

Experimenting with TMS....
  • #93,024
  • Jan 11, 2019 8:45am Jan 11, 2019 8:45am
Quoting my previous post: "I went long with EURUSD just now.........

A bit worried about stop loss. Should I move it lower?"


My stoploss got hit....And I accidentally deleted the content of my previous EURUSD post. very frustrated now from myself...

I should have moved it much lower at the red horizontal line.

If it gets hit, then most likely price would fall more.

Lesson=====If I could not tolerate such a big stop loss, I should have waited for a retest or not to trade. Hoe come I did this to myself?
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  • #93,025
  • Jan 11, 2019 10:24am Jan 11, 2019 10:24am
Hello everyone . I would like to ask if anyone is still trading the 4H charts staring st 7pm eastern NY time following this method , checking the charts at 7pm , 11pm and 3 am , close all trades by 7 am if they are still running ?

Volatility appears low during those times with little movement . Just also wondering how many pips one would expect to get out of a month or week following the 4h at night with little chart movement . Any response appreciated and good work here on this TMS !
  • #93,026
  • Jan 11, 2019 12:49pm Jan 11, 2019 12:49pm
Quoting emmanuel7788
{quote} How I keep it simple when trading the H4 chart timeframe, start the week by first looking at the W1 charts, if the W1 shows sideways market, check the range. Avoid trading narrow range sideways. if W1 is trending, then move on and look at D1, if D1 is trending in the same direction as W1, then trade H4 in the direction of both the W1 and D1. If D1 is in a 'correction' / retracement against the W1 trend, WAIT.... for D1 reversal A good example is my USDCAD trade this week. {image}


You've been posting variations of this chart like forever

but whilst doing a lot of studying and trading another system, without realising it i started trading similar to the concept here, then had a bit of an "aha" moment and realised it was also what you've been saying.

although that chart simplified it too much for me grasp it properly into trading

tbh, i'm starting to wonder now if the m30 chart from a technical analysis standpoint should really be scrapped on mt4. mt4 does not have 2 hour charts. you cannot adhere to the diagrams concept using a m30 chart. you can "sorta", but not properly.
  • #93,027
  • Jan 11, 2019 1:44pm Jan 11, 2019 1:44pm
Quoting emmanuel7788
{quote} Stop Loss is what you place in your terminal for your broker to see.... commonly known a hard stops. there are other forms of stop loss which you can consider in your money management strategy.... 'soft stops' which your broker cannot see. when you trade with multiple entries and you manage using average entry price of all open positions, this is where you use 'soft stop loss' read carefully your broker' agreement fine print.
Dear Emmaunel,

I agree that SL /TP is visible by broker and can be manipulated. I haopehaopehap multiple times with Mr that my trade got SL or revetesed just befibeTP and come back. If started increasing the SL range but still not much success. SO I StopoSt this practice but start opening multiple positions to make average if price moves opposite direction but it gave me Huge loss loss. Price keep moving . Finally to save account I hedged it but then worse price reversed and I stuck bit atvlast I lost my all equity. Got frustrated lost confidence. So can you please suggest what to do in this situation.

Thanks
  • #93,028
  • Jan 11, 2019 2:06pm Jan 11, 2019 2:06pm
Quoting Simply-Me
{quote} I'm just wondering how you trade.What your MM,how many trades you take monthly,how many pips you make,what your RR.
With 5k CAD account size I never go above 0.15 total lot size combined.
I swing trade, so not a lot of trades. So far in 2019, I closed 14 trades. Made $300.
Also I don't use stop-losses at all because my account size allows riding out pretty deep opposite wave.
Not sure how many pips I make, I am pretty flexible taking pip profits, but I am learning to hold for longer (for better pips).
Key is being patient and learning the price action.
I started to consistently making profits when I cared less about trading ironically.
After for when to enter & exit I follow Big E's methods.

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market is a device for transferring money from the impatient to the patient
  • #93,029
  • Jan 11, 2019 3:50pm Jan 11, 2019 3:50pm
Quoting bs4
{quote} With 5k CAD account size I never go above 0.15 total lot size combined. I swing trade, so not a lot of trades. So far in 2019, I closed 14 trades. Made $300. Also I don't use stop-losses at all because my account size allows riding out pretty deep opposite wave. Not sure how many pips I make, I am pretty flexible taking pip profits, but I am learning to hold for longer (for better pips). Key is being patient and learning the price action. I started to consistently making profits when I cared less about trading ironically. After for when...
Funny to see all those Buffet quotes here. Buffet was never a trader, he's an investor, portfolio manager, which is completely different to 90% of all the technical based short to swing term traders you find here.
  • #93,030
  • Jan 11, 2019 8:39pm Jan 11, 2019 8:39pm
Quoting kain775
{quote} You've been posting variations of this chart like forever but whilst doing a lot of studying and trading another system, without realising it i started trading similar to the concept here, then had a bit of an "aha" moment and realised it was also what you've been saying. although that chart simplified it too much for me grasp it properly into trading tbh, i'm starting to wonder now if the m30 chart from a technical analysis standpoint should really be scrapped on mt4. mt4 does not have 2 hour charts. you cannot adhere to the diagrams concept...
I don't look at M30 timeframe.

Use a ratio of 4:1 and 3:1 for multi-timeframe annalysis

M15 / H1/ H4

H4 / D1 / W1

if you really must and want to trade once every 30 mins, then M30 / H4 / D1 would work. You trade the short-term trend or swing , in your case its is the swings seen on the M30 charts.

use the 10EMA/50EMA/200EMA (10EMA replaces Big E's 5EMA Typical Price Shift+3)

or the PAC(5SMMA)/50EMA/200EMA

that is simple enough. This is not holy grail using moving averages.

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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #93,031
  • Jan 11, 2019 8:42pm Jan 11, 2019 8:42pm
Quoting bs4
{quote} With 5k CAD account size I never go above 0.15 total lot size combined. I swing trade, so not a lot of trades. So far in 2019, I closed 14 trades. Made $300. Also I don't use stop-losses at all because my account size allows riding out pretty deep opposite wave. Not sure how many pips I make, I am pretty flexible taking pip profits, but I am learning to hold for longer (for better pips). Key is being patient and learning the price action. I started to consistently making profits when I cared less about trading ironically. After for when...

post.

the wisdom of Warren Buffett. I LIKE.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #93,032
  • Edited 9:26pm Jan 11, 2019 9:11pm | Edited 9:26pm
Quoting Tekkies
{quote} Hi Rick. Let see what you have posted. - you don't need to enter at the correct spot to make money. Are you serious Rick. Please show how that is done on any chart. (Live chart, first bar on the right hand-side). If that is true Rick then why do so many trader's lose all their money? 95% is the number given. (You need to explain in more detail because I only know what BigE has posted.) - You only need to develop a EXIT system that can collect green pips on CLOSE of a position. a EXIT strategy won't...
Hi Tekkies

Lets get the facts right first, 20-25 of retail traders actually make money. The 5% of winners is BS, its just a liar to make many traders think their special.

You can make money by selling in a strong upturn provided your trade size basket is designed to fall under a 10% draw down optimized over a previous years data.
Add a equity protection stop loss of this amount and you are ready to carry on trading your plan if this event occurs. Yes you do need a large account or trade with small trade sizes but the profits are there to be made year after year. The secret is to design a strategy that takes many trades and just harvests pips.
Infact look at my trades from EURCAD at the end of last year. I always had one trade on the live market, either short or long. The entry did not matter, I just need to be IN THE TRADE. My EA is then designed to take small profits, choose whether to buy or sell when the conditions suit and just remain in the trade for the whole year.


So its my Exit strategy that makes me money, I have a trade entered all the time so I don't need to care about correct entry's.
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Trading thin liquidity at the boundary of the charts
  • #93,033
  • Jan 11, 2019 9:20pm Jan 11, 2019 9:20pm
Quoting Maule
{quote} Just to confirm. DCA is MEME?
DCA what was mentioned in that video is not the way how we trade TMS with MEME.

I don't like black box software and I don't use them.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #93,034
  • Jan 11, 2019 9:41pm Jan 11, 2019 9:41pm
Dear all,

I am looking for an EA for money management that would:

1-enable me to drag a line to where I want my my stop loss to be and adjust the lot size according to my "Percentage" or "Money" I will risk.

2-Split my trade to Two or Three partial lots with two or three targets

3-ability to set breakeven or trailing stop after target 1 is hit for the remaining targets

If it is a commercial one, kindly PM me.

It will be great if it has a panel. I am tired of doing the math every time.

Thanks Regards
  • #93,035
  • Jan 11, 2019 9:51pm Jan 11, 2019 9:51pm
Quoting RickM
{quote} Hi Tekkies Lets get the facts right first, 20-25 of retail traders actually make money. The 5% of winners is BS, its just a liar to make many traders think their special. You can make money by selling in a strong upturn provided your trade size basket is designed to fall under a 10% draw down optimized over a previous years data. Add a equity protection stop loss of this amount and you are ready to carry on trading your plan if this event occurs. Yes you do need a large account or trade with small trade sizes but the profits are there to...
Winners total? Would say to read everything on the internet with a bag of salt.
Thanks for explanation Rick. It make's more sense.
  • #93,036
  • Jan 12, 2019 2:33am Jan 12, 2019 2:33am
Quoting mtharwat
Dear all, I am looking for an EA for money management that would: 1-enable me to drag a line to where I want my my stop loss to be and adjust the lot size according to my "Percentage" or "Money" I will risk. 2-Split my trade to Two or Three partial lots with two or three targets 3-ability to set breakeven or trailing stop after target 1 is hit for the remaining targets If it is a commercial one, kindly PM me. It will be great if it has a panel. I am tired of doing the math every time. Thanks Regards
Here is something close to what I mean:

https://www.fxcmapps.com/apps/multip...-take-profits/


FXCM has a "Multiple Take Profit and Stop Loss" MT4 indicator for its account holders. I don't have an account with them and I need more features as well Like a panel on the chart and few other things.

--------------


This one has a panel but not everything I need.
https://www.pointzero-trading.com/Pr...w/PZTradePadEA

  • #93,037
  • Jan 12, 2019 4:36am Jan 12, 2019 4:36am
Quoting RickM
{quote} Hi Tekkies Lets get the facts right first, 20-25 of retail traders actually make money. The 5% of winners is BS, its just a liar to make many traders think their special. You can make money by selling in a strong upturn provided your trade size basket is designed to fall under a 10% draw down optimized over a previous years data. Add a equity protection stop loss of this amount and you are ready to carry on trading your plan if this event occurs. Yes you do need a large account or trade with small trade sizes but the profits are there to...
Hi Rick, I see a good example of MEME with EA, but just after the last date on you pic the trend continued up. Would you continue to enter short above the cloud (as it appears is your rule)? or do you go with the trend. If the latter how do you determine the trend and switch of EA direction?
  • #93,038
  • Edited 8:26am Jan 12, 2019 6:49am | Edited 8:26am
Edit:

I deleted this post.


Thanks
  • #93,039
  • Jan 12, 2019 9:05am Jan 12, 2019 9:05am
Dear all,

With the loss of EURUSD trade, I was re-analysing and double checking TDI and stochastic.

My observation are annotated on the chart.

Pls note that TDI crossed before entry candle and was flickering higher while entry candle was forming.
Stoch was sloping slightly upwards and sloped more while entry candle was forming.

What do you think? Also note that after the cross with any setup, the entry candle will usually show strong momentum in your direction while forming. So if
TDI appears flat, that is visible after the candle is formed. So the crossover happened first in first candle then the second candle ihas some momentum while forming, hen TDI responds by sloping in the direction. Only when the entry candle starts loosing momentum, then TDI gets flat.

Generally speaking, I believe I should wait for couple of daily bars after breakout of major Daily resistance. I think this is the reason why the trade lost. In addition to this, stoploss should have been placed much lower.
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  • #93,040
  • Jan 12, 2019 12:40pm Jan 12, 2019 12:40pm
Quoting nigpig
{quote} Hi Rick, I see a good example of MEME with EA, but just after the last date on you pic the trend continued up. Would you continue to enter short above the cloud (as it appears is your rule)? or do you go with the trend. If the latter how do you determine the trend and switch of EA direction?
Hi Nigpig

The answer is YES, its always on because we need to be smart when we trade any pair.
EURCAD favours Reversal EA's not Trending EA's over the past few years. But market types can change so I need to have a plan to avoid equity wipes out or other events like the recent flash crash. I want to run a balanced Account on any pair so I run EURCAD with a primary EA which is Reversal, a secondary reversal model which trades via different indicators and then most importantly, 2 Trending EA's to make money during these spikes to keep drawn down to around 4-5%. These Trending EA's hedge the two primary models and still manage to make about 10% each by the end of the year. So its a system of 4 EA's working together.
Actually I have added a fifth and sixth EA last week to deal with any flash Crashs in the future on this pair. The problem with the Reversal pairs is they could be caught out with a 400 - 800 spike so its set to hedge using a Starc Bands set to around period MA 50 / period 500 and around 3.5 with its own take profit and stop loss. Then I needed to create the same for the trending EA's where I am only interested in covering the "snap back " so its kind of the opposite.

So I have a lot of trades opened doing different things at the same time but with the same goal.
Trading thin liquidity at the boundary of the charts
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