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Trading Made Simple(r)

  • #41
  • May 21, 2019 7:31am May 21, 2019 7:31am
Thank you very much for sharing your system and experience
  • #42
  • May 21, 2019 7:38am May 21, 2019 7:38am
Quoting juantrader
Thank you very much for sharing your system and experience
You're Welcome!
Always a Student, Never a Master - Emulate What Works
  • #43
  • May 21, 2019 8:06am May 21, 2019 8:06am
Quoting kirinda
Two crossover trades. Is my entries correct? Crossover trade 4H AUDNZD: {image} Crossover trade 4H EURAUD: {image}

EURAUD hit SL.
  • #44
  • May 21, 2019 8:07am May 21, 2019 8:07am
Quoting kirinda
NZDUSD 4H crossover trade: {image} EURUSD 4H continuation trade: {image}
EURUSD hit SL.
  • #45
  • May 21, 2019 8:14am May 21, 2019 8:14am
Hi Rob,

Just want to ask if this is ok.
- entry was a bit late tho.

Thank you.
Attached Image (click to enlarge)
Click to Enlarge Name: o.png Size: 79 KB
  • #46
  • Edited 4:10pm May 21, 2019 9:43am | Edited 4:10pm
Quoting kirinda
{quote} EURAUD hit SL.
The way you trade and where you place your stops is obviously up to you.

But here's how I do it in case anyone is interested...

When every indicator reversed to long on the 4 Hr. EURAUD, I would have exited the short and re-entered long. I didn't take the short because I didn't like that big down bar, but I did take the long.

Otherwise, very often if I get 2 or more indicators changing colors and/or any of the lower window indicators crossing the Purple 50 Line, I move my stop close, or I get out. You can always get back in when/if things turn back around.

I took the long trade on the 4 hour chart entering at 1.6225 and placed my stop at 1.6180. Most likely I will move my stop in about 20 minutes when the new candle starts to about 1.6200 thereby reducing my exposure by 20 pips.

---------

Concerning the EURUSD, I rarely ever trade it intraday because I don't like how it moves most of the time.
Always a Student, Never a Master - Emulate What Works
  • #47
  • May 21, 2019 9:49am May 21, 2019 9:49am
Quoting Yudax
Hi Rob, Just want to ask if this is ok. - entry was a bit late tho. Thank you. {image}
YES, you did it exactly right...except you obviously dramatically increased your risk on the trade (and potentially lost out on profits) for what looks like approximately 70 pips (the best I can tell).

But hey, the same thing happens to me sometimes because I don't stayed glued to the screen all the time.
Always a Student, Never a Master - Emulate What Works
  • #48
  • May 21, 2019 9:54am May 21, 2019 9:54am
Quoting RobinHood
{quote} YES, you did it exactly right...except you obviously dramatically increased your risk on the trade (and potentially lost out on profits) for what looks like approximately 70 pips (the best I can tell). But hey, the same thing happens to me sometimes because I don't stayed glued to the screen all the time.
Thank you Rob,

Really really late .I entered because I saw the setup and wanted to make sure if I did the rules correctly.
---
May I ask how many pairs do you trade?
  • #49
  • May 21, 2019 10:38am May 21, 2019 10:38am
Quoting Yudax
{quote} Thank you Rob, Really really late .I entered because I saw the setup and wanted to make sure if I did the rules correctly. --- May I ask how many pairs do you trade?
It fluctuates a lot. It mostly depends on my mood. There's really no rhyme or reason why I trade what I trade. If I have a losing trade on a pair and it upsets me enough, I just switch to a few other pairs for a while. If I have a big winning trade on a pair. I may only trade that pair for a while but I trade it bigger.


I like trading the GBPJPY 4 Hr. chart the best. I also like trading several of the JPY crosses. And, as of late, I like trading the daily USDTRY because it has been trending so well.
Always a Student, Never a Master - Emulate What Works
  • #50
  • May 21, 2019 3:13pm May 21, 2019 3:13pm
Hi Guys,
For those of us who do not use MT4, can you please advise what are the settings for the stocks besides the 8 3 3 and 14 3 3?

Are you using only the Ks or the Ds, and are there other considerations as in you apply to close, etc?

Much appreciated as I am trying to set this up and test it in prorealtime.
Cheers,
  • #51
  • May 21, 2019 4:08pm May 21, 2019 4:08pm
Quoting Carludo
Hi Guys, For those of us who do not use MT4, can you please advise what are the settings for the stocks besides the 8 3 3 and 14 3 3? Are you using only the Ks or the Ds, and are there other considerations as in you apply to close, etc? Much appreciated as I am trying to set this up and test it in prorealtime. Cheers,
I wish I could help you but I only use MT4 for Forex trading.
Always a Student, Never a Master - Emulate What Works
  • #52
  • May 21, 2019 4:14pm May 21, 2019 4:14pm
Quoting RobinHood
{quote} It fluctuates a lot. It mostly depends on my mood. There's really no rhyme or reason why I trade what I trade. If I have a losing trade on a pair and it upsets me enough, I just switch to a few other pairs for a while. If I have a big winning trade on a pair. I may only trade that pair for a while but I trade it bigger. I like trading the GBPJPY 4 Hr. chart the best. I also like trading several of the JPY crosses. And, as of late, I like trading the daily USDTRY because it has been trending so well.
Thanks for sharing your system.
Daily USDTRY..do you trade that only short? Some hefty swap on that one otherwise...
  • #53
  • May 21, 2019 4:30pm May 21, 2019 4:30pm
Quoting RobinHood
{quote} I wish I could help you but I only use MT4 for Forex trading.
Hi RobinHood,

I understand, just wondering if anyone that is using this setup knows if only the K or the D line are used.

Cheers,
  • #54
  • Edited May 22, 2019 12:38am May 21, 2019 5:58pm | Edited May 22, 2019 12:38am
Quoting Go5
{quote} Thanks for sharing your system. Daily USDTRY..do you trade that only short? Some hefty swap on that one otherwise...
So far, I have only traded it long.
Always a Student, Never a Master - Emulate What Works
  • #55
  • May 21, 2019 6:00pm May 21, 2019 6:00pm
Quoting Carludo
{quote} Hi RobinHood, I understand, just wondering if anyone that is using this setup knows if only the K or the D line are used. Cheers,
I use 2 Stochastics.

On one the K period is the 8 and the 3 is the D period

On the other one the K period is the 14 and the 3 is the D period
Always a Student, Never a Master - Emulate What Works
  • #56
  • May 22, 2019 2:32am May 22, 2019 2:32am
Quoting Yudax
Hi Rob, Just want to ask if this is ok. - entry was a bit late tho. Thank you. {image}
Just my 2 cents on the trade set up. Even though your mechanics may have been sound on the 4 hr chart you may want to check the next higher up time frame before you pull the trigger.

Look at the daily chart and you will see the last support level has been broken and all indicators on the daily show short.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYDaily Trend.png Size: 116 KB
  • #57
  • May 22, 2019 6:05am May 22, 2019 6:05am
CADJPY 4H continuation trade:
Attached Image (click to enlarge)
Click to Enlarge Name: 20190522CADJPYH4.png Size: 79 KB
  • #58
  • May 22, 2019 6:51am May 22, 2019 6:51am
Quoting kirinda
CADJPY 4H continuation trade: {image}
Excellent!
Always a Student, Never a Master - Emulate What Works
  • #59
  • May 22, 2019 7:01am May 22, 2019 7:01am
Excellent documentation and seems simple(r), once the rules are memorized. I'll give this some tests since TMS has always held a special place in my heart. Shall report back.
  • #60
  • May 22, 2019 8:05am May 22, 2019 8:05am
Just Passing
Just in case they are required add these to the indicators folder for ease of use :-)
Great simple thread with a wonderfull conclusion! :-) Pho
Attached File(s)
File Type: ex4 JF_TradingTimes.ex4   32 KB | 1,333 downloads
File Type: ex4 rsi.ex4   68 KB | 1,149 downloads
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