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Trading Made Simple(r)

  • #1,641
  • Jul 18, 2019 3:42am Jul 18, 2019 3:42am
Quoting RobinHood
I am LONG the NZDUSD and SHORT the EURCAD and the AUDCAD, and I am currently losing on all 3...for a grand total of -8 pips. LOL! {image}
It will be lovely if you can show us how you are managing these trades you put yesterday 20 hours ago. Thanks
  • #1,642
  • Jul 18, 2019 3:56am Jul 18, 2019 3:56am
Quoting emmanuel7788
{quote} Please post a chart of that trade(s).
Screenshot attached. USD/CAD with a couple of arrows showing valid shorts in my opinion. I must be missing something, maybe news, or consolidation. I put the trade on and it reverses next candle. Even the continuation trades don't continue, just keep reversing.
I did have some joy with the original TMS strategy as well as a double stochastic strategy but nothing consistant enough to lose the demo account.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 158 KB
  • #1,643
  • Jul 18, 2019 3:58am Jul 18, 2019 3:58am
Quoting emmanuel7788
Another example using EP SL and TPs levels with additional -0.5R between EP and SL AUDUSD Jul18 H4 this is a breakout setup with CROSSOVER {image}
Hey Emmanuel,
Can you please share this expert/script for that?
Thanks a lot
Trade Safe !
  • #1,644
  • Jul 18, 2019 4:08am Jul 18, 2019 4:08am
Quoting 40PipsAlan
{quote} Screenshot attached. USD/CAD with a couple of arrows showing valid shorts in my opinion. I must be missing something, maybe news, or consolidation. I put the trade on and it reverses next candle. Even the continuation trades don't continue, just keep reversing. I did have some joy with the original TMS strategy as well as a double stochastic strategy but nothing consistant enough to lose the demo account. {image}
And this one. Is this not a continuation trade?
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 159 KB
  • #1,645
  • Jul 18, 2019 4:13am Jul 18, 2019 4:13am
Quoting neil001
{quote} Do you have this in English perhaps?? Both .PDF's are in Russian
I'm sorry. that's all i have. i don't think it's confusing! try it : )

/

I'm short EURCHF.
Attached Image (click to enlarge)
Click to Enlarge Name: EURCHFH4.png Size: 30 KB

also long GBPUSD.
  • #1,646
  • Edited 4:42am Jul 18, 2019 4:25am | Edited 4:42am
Quoting 40PipsAlan
{quote} And this one. Is this not a continuation trade? {image}
Hi there Alan:

Check the System-Rules:

Attached Image (click to enlarge)
Click to Enlarge Name: RULES.jpg Size: 160 KB


Also, hop over to the D1 and W1 and look at those Charts.

Now compare with the pair below (flip to D1 and W1 as well):-

Attached Image (click to enlarge)
Click to Enlarge Name: EURAUD.jpg Size: 118 KB


Trading doesn't get any easier than this; read Posts 1 and 9 until you are clear.

Trade Well.
  • #1,647
  • Edited 4:44am Jul 18, 2019 4:29am | Edited 4:44am
Quoting 40PipsAlan
{quote} Screenshot attached. USD/CAD with a couple of arrows showing valid shorts in my opinion. I must be missing something, maybe news, or consolidation. I put the trade on and it reverses next candle. Even the continuation trades don't continue, just keep reversing. I did have some joy with the original TMS strategy as well as a double stochastic strategy but nothing consistent enough to lose the demo account. {image}
More experienced people may comment but for what it is worth I would not have taken this trade. The RSI is very flat, the daily is beginning to consolidate and range and you entered after a big candle. I think USDCAD is consolidating before deciding on where it will go next.

I have learnt recently that D1 time frame is very important - throw a 200EMA on your H4 chart as this will help you see what the larger trend is.

Secondly, go down to a lower time frame before entering and catch the momentum down. I have had more success with this last step as trades don't go against me as much at the beginning. The aim is to catch a short at the top and a long from the bottom.
  • #1,648
  • Jul 18, 2019 4:31am Jul 18, 2019 4:31am
Quoting marcara
{quote} sorry my mistake, yes USDCHF short CADJPY short seems very good! I ll try to catch it. CL is going down helping the CAD down and SP500 is going down heping the JPY UP. The only issue is that daily chart has a support area.
EURUSD I have just closed the trade BE, I do not lke how is it moving it The price is just on the SMA200 H1 chart

USDCHF was too late to enter, so many red candles, The signal was before, My mistake
  • #1,649
  • Jul 18, 2019 4:46am Jul 18, 2019 4:46am
Quoting Goodgame42
{quote} Hey Emmanuel, Can you please share this expert/script for that? Thanks a lot
Scripts for plotting EP SL and TPs levels on trade entry on chart

read Post#1397

https://www.forexfactory.com/showthr...8#post12381788


Example *LIVE* EURGBP Jul18 H4 London session.


Attached Image (click to enlarge)
Click to Enlarge Name: EURGBP Jul18 H4 sell 18-07-2019 17-43-35.png Size: 54 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #1,650
  • Jul 18, 2019 4:54am Jul 18, 2019 4:54am
Quoting 40PipsAlan
{quote} Screenshot attached. USD/CAD with a couple of arrows showing valid shorts in my opinion. I must be missing something, maybe news, or consolidation. I put the trade on and it reverses next candle. Even the continuation trades don't continue, just keep reversing. I did have some joy with the original TMS strategy as well as a double stochastic strategy but nothing consistant enough to lose the demo account. {image}
Brown RSI is a key indicator for me ive noticed problems with trades if it doesnt cross the 50, even if it looks close, touching the purple 50 line but hasnt yet crossed I stay away until it crosses. As pointed out, i would say for now make sure all indicator conditions are met while you get a feel of the method before working on less than all.

Also try to see if there is a spike i.e big candle just before your entry as it makes your trade less likely to be a good one. just my 2 cents.
The more you learn, the more you see
  • #1,651
  • Jul 18, 2019 4:54am Jul 18, 2019 4:54am
Quoting emmanuel7788
{quote} Scripts for plotting EP SL and TPs levels on trade entry on chart read Post#1397 https://www.forexfactory.com/showthr...8#post12381788 Example *LIVE* EURGBP Jul18 H4 London session. {image}
Many Thanks Emmanuel, the trade is against D1, maybe the short is too early?

Nverthelles EURGBP D1 has a long trend run without retracementn!

And good GBP data is also helping the short!
  • #1,652
  • Jul 18, 2019 4:55am Jul 18, 2019 4:55am
Some one asked for the news events alert indicator.

Here you go.
Attached File(s)
File Type: ex4 News_Events.ex4   128 KB | 398 downloads
The more you learn, the more you see
  • #1,653
  • Jul 18, 2019 5:16am Jul 18, 2019 5:16am
Quoting marcara
{quote} Many Thanks Emmanuel, the trade is against D1, maybe the short is too early? Nverthelles EURGBP D1 has a long trend run without retracementn! And good GBP data is also helping the short!

it is a price pull back trade ... and risky. Maybe for advance price action type of traders.

So as traders we must mitigate the risk like for example placing a smaller risk amoun$$$.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #1,654
  • Jul 18, 2019 5:28am Jul 18, 2019 5:28am
Quoting 40PipsAlan
{quote} And this one. Is this not a continuation trade? {image}
That trade didn't meet the rules for a short as the HMA was yellow and there was blue within the red bar if you look closely.

Hope that helps

Cheers
Andy
  • #1,655
  • Jul 18, 2019 5:37am Jul 18, 2019 5:37am
Guys,
Thanks for all your words of wisdom. Must try harder
  • #1,656
  • Jul 18, 2019 6:08am Jul 18, 2019 6:08am
Quoting RobinHood
To be successful in trading, you need what I call: The 3 M's of Trading - Mind, Method & Money Management Without all 3, you will likely never succeed at trading.
Money Management is my next learning curve. I hope to see you explaining some tips soon
Begin with the end in mind
  • #1,657
  • Jul 18, 2019 6:16am Jul 18, 2019 6:16am
Quoting 40PipsAlan
{quote} Screenshot attached. USD/CAD with a couple of arrows showing valid shorts in my opinion. I must be missing something, maybe news, or consolidation. I put the trade on and it reverses next candle. Even the continuation trades don't continue, just keep reversing. I did have some joy with the original TMS strategy as well as a double stochastic strategy but nothing consistant enough to lose the demo account. {image}

Hi Alan

Accept the fact when we trade a mechanical method using 7 indicators some trade setups will fail.

You have some good comments by other members already, read them and learn from those comments and observations made.

Important that we understand that this method is trading with price momentum.

I just want to add how I pick the 'best setups'. I trade price action therefore I look at both the price bars and the APB/HA candles.
The 'best setups' are those when the conditions are 100% within APB/HA candles 2 to 3, maximum 3 candles for CROSSOVER setups. For CONTINUATION, it is 2 APB/HA candles.Anything more than 2 to 3 candles has more risk especially when the candle are larger than normal.

On your chart with two arrows I label them 1 and 2. Note how many candles were those setups.

There were two very good setups I marked as CROSSOVER , note the number of candles when the Stoch(8,3,3) & (14,33) crosses plus he RSI(14) cross near the 50-level. For the CONTINUATION setup note the number of candles when the two Stochs and RSI show the downward momentum.

Attached Image (click to enlarge)
Click to Enlarge Name: 40PipsAlan post USDCAD H4.png Size: 377 KB


Keep on learning. Do not give up. It will need lots of screen time and practice in live market.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #1,658
  • Jul 18, 2019 6:23am Jul 18, 2019 6:23am
Quoting emmanuel7788
{quote} it is a price pull back trade ... and risky. Maybe for advance price action type of traders. So as traders we must mitigate the risk like for example placing a smaller risk amoun$$$.
Congratulations! what a fantastic trade are you having! EURGBP

Only If I knww half of your trading knwoledge would be fanastic!
  • #1,659
  • Jul 18, 2019 6:35am Jul 18, 2019 6:35am
Quoting marcara
{quote} Congratulations! what a fantastic trade are you having! EURGBP Only If I knww half of your trading knwoledge would be fanastic!

when you spend 3 to 5 hours every day for 2 to 3 years, you will most likely make it to the next higher level trading.

it is DEEP PRACTICE...

Inserted Video
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #1,660
  • Jul 18, 2019 6:45am Jul 18, 2019 6:45am
Quoting marcara
{quote} It will be lovely if you can show us how you are managing these trades you put yesterday 20 hours ago. Thanks
I was stopped out on all 3 for about 20 pips each.

Now I am long the AUDUSD and the NZDUSD and I am short EURUSD and the USDJPY on the 4 hr. charts.
Always a Student, Never a Master - Emulate What Works
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