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Trading Made Simple the right way, and other trading lessons 334 replies

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Trading Made Simple(r)

  • #961
  • Jul 3, 2019 6:22am Jul 3, 2019 6:22am
Quoting Backspin
My morning update {image}
Why tvize the risk on the last trade ?

Best regards
  • #962
  • Edited 9:20pm Jul 3, 2019 6:25am | Edited 9:20pm
There were questions about my trade manager EA.

It is not free but it's worth the money, for me.

Yes it calculates the lots. In my case 1% risk on a $5k account and seems accurate. You can enter pendings at preset distances from price, including limit orders.
It does many other things.

I don't want to give them free advertising, but you can google it and the site has something to do with a nocturnal ball in the sky.
I've had this for several years and am happy with it. You can download their manual and read about it and they have a free trial.
  • #963
  • Jul 3, 2019 6:27am Jul 3, 2019 6:27am
Guys, good job on the trades! Please keep posting them. It gives others who may be new or struggling confidence that they too can make money using these methods.

NOW, I hope people can see why I wrote this in Post # 1:

In Conclusion...

This may sound harsh, but I really believe that if you cannot eventually learn to make money trading the Forex using these templates, then you should probably just give up trading the Forex.
Always a Student, Never a Master - Emulate What Works
  • #964
  • Jul 3, 2019 6:34am Jul 3, 2019 6:34am
Stops adjusted now.
Attached Image (click to enlarge)
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  • #965
  • Jul 3, 2019 6:51am Jul 3, 2019 6:51am
Quoting RobinHood
{quote} 4 Hr. and Daily
Thank you
Posting some live trades with clear entry price helps us so much to visualize on my chart to understand the way you trade.
Keep it good works. Cheers!
  • #966
  • Jul 3, 2019 6:54am Jul 3, 2019 6:54am
Quoting emmanuel7788
my current open positions will manage some with TP soon and others move higher TP {image} {image}
Hi Emmanuel,
Thanks for posting live trades.
Can you tell me the reason why you entried on GBPJPY and AUDUSD?
Thank you
  • #967
  • Jul 3, 2019 7:05am Jul 3, 2019 7:05am
Quoting hikaru259
{quote} Hi Emmanuel, Thanks for posting live trades. Can you tell me the reason why you entried on GBPJPY and AUDUSD? Thank you

each trade I took has a post before I make a trade decision...

AUDUSD Post#906

GBPJPY Post#932


do you know why and when I open my EURJPY trade?


EURNZD Post#933
and it was a M5 entry after I saw the H4 setup.

Attached Image (click to enlarge)
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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #968
  • Jul 3, 2019 7:22am Jul 3, 2019 7:22am
Here's another GREAT trading book.

Way of the Turtle
Attached File(s)
File Type: pdf Way of the Turtle - Curtis Faith.pdf   968 KB | 570 downloads
Always a Student, Never a Master - Emulate What Works
  • #969
  • Jul 3, 2019 7:59am Jul 3, 2019 7:59am
hi these are couple of losses from 1st. I struggle w the valid entries any advice is appreciated.
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  • #970
  • Jul 3, 2019 8:05am Jul 3, 2019 8:05am
A new 4 Hr. bar just opened at 9 am EST and I entered 4 new trades. Here are all of the trades that I am currently in.

Attached Image (click to enlarge)
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Always a Student, Never a Master - Emulate What Works
  • #971
  • Jul 3, 2019 8:50am Jul 3, 2019 8:50am
Thank you RH.
Thanks also Emmanuel.
  • #972
  • Jul 3, 2019 8:50am Jul 3, 2019 8:50am
Quoting mirzka
hi these are couple of losses from 1st. I struggle w the valid entries any advice is appreciated. {image} {image} {image} {image}
Did you check the daily bias to see if it agrees with the 4hr ?
  • #973
  • Jul 3, 2019 9:01am Jul 3, 2019 9:01am
Quoting RobinHood
A new 4 Hr. bar just opened at 9 am EST and I entered 4 new trades. Here are all of the trades that I am currently in. {image}
Hey RH. Thanks for the nice thread. Are you concerned about the daily on the AU and NU trades not lining up completely?
Thanks
  • #974
  • Jul 3, 2019 9:05am Jul 3, 2019 9:05am
It would be interesting as a group to see just how many different 4hr timings we have depending on which broker we use. My times are UTC (GMT)
My broker is city index in London

00:00
04:00
08:00
12:00
16:00
20:00
  • #975
  • Jul 3, 2019 9:10am Jul 3, 2019 9:10am
My currently open trades:
Attached Image (click to enlarge)
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  • #976
  • Jul 3, 2019 9:19am Jul 3, 2019 9:19am
Quoting mirzka
hi these are couple of losses from 1st. I struggle w the valid entries any advice is appreciated. {image} {image} {image} {image}
What you are doing looks mostly right. Check the Daily charts to confirm the direction of your 4 hr. trades. Keep at it. You'll eventually totally "get it".
Always a Student, Never a Master - Emulate What Works
  • #977
  • Jul 3, 2019 9:19am Jul 3, 2019 9:19am
EJ showing some blue. Bounced off the daily open area. GU did the same. GA looks like it might break through that BRN for a while.
Attached Image (click to enlarge)
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  • #978
  • Jul 3, 2019 9:21am Jul 3, 2019 9:21am
Quoting RobinHood
A new 4 Hr. bar just opened at 9 am EST and I entered 4 new trades. Here are all of the trades that I am currently in. {image}

Thnak you
this is extremely helpful for new people so they can verify with this stuff
  • #979
  • Jul 3, 2019 9:24am Jul 3, 2019 9:24am
Quoting spyderman
{quote} Hey RH. Thanks for the nice thread. Are you concerned about the daily on the AU and NU trades not lining up completely? Thanks
NO. Because on the Daily charts, both are MORE LIKELY than not to turn into Continuation Trades
Always a Student, Never a Master - Emulate What Works
  • #980
  • Jul 3, 2019 9:24am Jul 3, 2019 9:24am
Quoting RobinHood
A new 4 Hr. bar just opened at 9 am EST and I entered 4 new trades. Here are all of the trades that I am currently in. {image}
RH - I looked at the buy on the AUDUSD but was put off by resistance at 0.70209. I guess if it breaks through it will really go. What is your philosophy here, make the trade anyway and see where it goes or am I being sensible as an inexperienced trader to see if resistance is broken first?

Attached Image (click to enlarge)
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