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Trading Made Simple(r)

  • #1,661
  • Jul 18, 2019 6:49am Jul 18, 2019 6:49am
Quoting emmanuel7788
{quote} 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... https://www.youtube.com/watch?v=Npvho3Hn6M0
Many hanks!,

Now, I am reading Trading beyond the Matrix from Van K. Tharp Nextbook, will be Daniel Coyle.
  • #1,662
  • Edited 7:41am Jul 18, 2019 7:00am | Edited 7:41am
Quoting RobinHood
{quote} 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.
Thanks.

AUDUSD D1 has an strog resistance area becareful.

EURUSD Short. When and where did you enter? It is a very big short candle do to ECB (European Central Bank) statement.

USD in half an hour there is important data

Philadelphia Fed Manufacturing Index (Jul) Philadelphia Fed Manufacturing Index (Jul)
  • #1,663
  • Jul 18, 2019 7:03am Jul 18, 2019 7:03am
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}
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD Jul18 H4 buy 18-07-2019 16-10-32.png Size: 52 KB


with less than one hour to H4 close, trade management decision ...

anythingcan happen during NY session until London close today.

move all positions to BE and get free trades.

Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD Jul18 H4 1H left 18-07-2019 19-58-59.png Size: 52 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #1,664
  • Jul 18, 2019 7:05am Jul 18, 2019 7:05am
Quoting emmanuel7788
Here is an example using script to plot the EP SL and TPs using R and R-Mutliple exit management. EURAUD Jul18 H4 {image}
Attached Image (click to enlarge)
Click to Enlarge Name: EURAUD Jul 18 H4 trade example 18-07-2019 16-04-22.png Size: 35 KB


looking at the situation right now, it is unlikely to make it to TP1 level.

if it does, then take out one lot at +1R and BE remaining 2 lots and wait.


Attached Image (click to enlarge)
Click to Enlarge Name: EURAUD Jul18 H4 IH left 18-07-2019 19-58-35.png Size: 49 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #1,665
  • Jul 18, 2019 7:06am Jul 18, 2019 7:06am
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}
Attached Image (click to enlarge)
Click to Enlarge Name: EURGBP Jul18 H4 sell 18-07-2019 17-43-35.png Size: 54 KB


with NY open now, there is no time for TP1.

if price move to TP1, take out one lot at +1R and BE remaining 2 lots .

Attached Image (click to enlarge)
Click to Enlarge Name: EURGBP Jul18 H4 1H left 18-07-2019 19-58-08.png Size: 53 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #1,666
  • Jul 18, 2019 7:07am Jul 18, 2019 7:07am
Anyone else in EURJPY are we still confident, everything looks solid on the 4hr/ 1 Day/ Weekly/ Monthly...

I closed it when it spiked in profit, waiting to see conditions atleast met at the 15min TF to re-enter.

Any thoughts ?
The more you learn, the more you see
  • #1,667
  • Jul 18, 2019 7:10am Jul 18, 2019 7:10am
Quoting marcara
{quote} Thanks. AUDUSD D1 has an strog resistance area becareful. EURUSD Short. When and where did you enter? Is i very big short candle do to ECB statement. USD in half an hour there is important data Philadelphia Fed Manufacturing Index (Jul) Philadelphia Fed Manufacturing Index (Jul)
I don't pay any attention to any of those things. I just do what the indicators tell me to do and I trail my stop 2 candles back unless there was a large candle immediately behind the current candle and then I only trail my stop 1 candle back.
Always a Student, Never a Master - Emulate What Works
  • #1,668
  • Jul 18, 2019 8:10am Jul 18, 2019 8:10am
Well, that sucks. Not much you can do about these things except a wider stop but that comes with its own challenges.
Attached Image (click to enlarge)
Click to Enlarge Name: USDCHF+H4.png Size: 56 KB
Emotion - it steals your money.
  • #1,669
  • Jul 18, 2019 8:12am Jul 18, 2019 8:12am
Quoting Marcusv007
Anyone else in EURJPY are we still confident, everything looks solid on the 4hr/ 1 Day/ Weekly/ Monthly... I closed it when it spiked in profit, waiting to see conditions atleast met at the 15min TF to re-enter. Any thoughts ?
I'm in the trade on the 4 hour. Stop has been trailed to 0.2R
Emotion - it steals your money.
  • #1,670
  • Jul 18, 2019 8:15am Jul 18, 2019 8:15am
Quoting carmelina
Hi, the Spoof, would you be able to give us the link to the indicator that you use to plot the R1, etc. Thanks for all your free knowledge along with that of all the other great members in here. Also, would you be able to tell me as to what lot sizes you make.? Thanks, Camen.
That is just the standard Fibo tool in MT4 that I modified the properties of to show my levels.
Emotion - it steals your money.
  • #1,671
  • Jul 18, 2019 8:18am Jul 18, 2019 8:18am
Quoting emmanuel7788
{quote} {image} with less than one hour to H4 close, trade management decision ... anythingcan happen during NY session until London close today. move all positions to BE and get free trades. {image}
Note: This is using Multi-Lot (3-lots) entry as explained in the pdf posted earlier.

Trade H4 manage every 4 hours when H4 candle closed.

UPDATE:

AUDUSD
I would lose all 3 lots and walk away... 3 small winners no regret good win rate.

Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD Jul18 H1 NY1 18-07-2019 21-10-12.png Size: 52 KB


Quoting emmanuel7788
{quote} {image} looking at the situation right now, it is unlikely to make it to TP1 level. if it does, then take out one lot at +1R and BE remaining 2 lots and wait. {image}

UPDATE:

EURAUD

Close 1 lot now. Move remaining 2 lots to BE+2 pips and set TP to TP2 ...fight! No loss situation.
Attached Image (click to enlarge)
Click to Enlarge Name: EURAUD JUl18 H1 NY1 18-07-2019 21-09-44.png Size: 49 KB



Quoting emmanuel7788
{quote} {image} with NY open now, there is no time for TP1. if price move to TP1, take out one lot at +1R and BE remaining 2 lots . {image}
UPDATE:

EURGBP

Close 1 lot. Move 2 lots to BE+2 pips and set TP to TP2 levels...fight! No loss situation
Attached Image (click to enlarge)
Click to Enlarge Name: EURGBP Jul18 H4 NY1 18-07-2019 21-09-16.png Size: 53 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #1,672
  • Jul 18, 2019 8:19am Jul 18, 2019 8:19am
Quoting TheSpoof
Well, that sucks. Not much you can do about these things except a wider stop but that comes with its own challenges. {image}
Yeah, it sucks, but DON'T use a wider stop. If anything, use a smaller one, but not bigger.

Just remember this: "The Best Trades Never Look Back"

But you never know which trades they will be.

So when you bait the hook, know going in that you are going to lose your bait sometimes but overall, by following these methods CONSISTENTLY, you WILL go home with a lot more that you lost.
Always a Student, Never a Master - Emulate What Works
  • #1,673
  • Jul 18, 2019 8:23am Jul 18, 2019 8:23am
Just placed a buy on GBPUSD. Tight stop and a 3R take profit. We will see how she goes.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD+H4.png Size: 52 KB
Emotion - it steals your money.
  • #1,674
  • Jul 18, 2019 8:23am Jul 18, 2019 8:23am
Quoting RobinHood
{quote} Yeah, it sucks, but DON'T use a wider stop. If anything, use a smaller one, but not bigger. Just remember this: "The Best Trades Never Look Back" But you never know which trades they will be. So when you bait the hook, know going in that you are going to lose your bait sometimes but overall, by following these methods CONSISTENTLY, you WILL go home with a lot more that you lost.
Absolutely The good trades take off quickly I have noticed. Just keep on keepin' on and wait for the next set up.
Emotion - it steals your money.
  • #1,675
  • Jul 18, 2019 8:26am Jul 18, 2019 8:26am
Quoting TheSpoof
Well, that sucks. Not much you can do about these things except a wider stop but that comes with its own challenges. {image}
i suggest you take all CHF pairs away. they are so hard to trade. as Davit do on his system and as i did today. lol

good luck
  • #1,676
  • Jul 18, 2019 8:37am Jul 18, 2019 8:37am
Quoting paroucia
{quote} i suggest you take all CHF pairs away. they are so hard to trade. as Davit do on his system and as i did today. lol good luck
Ya...I never used to trade CHF pairs and I am certainly in the hole on USDCHF with this method I'm doing far worse on EURJPY though. I am seriously considering pairing it down to AUDUSD, GBPUSD and EURUSD and maybe oil. I could throw USDCAD in there but it always seems to kick my ass, too.
Emotion - it steals your money.
  • #1,677
  • Jul 18, 2019 8:37am Jul 18, 2019 8:37am
Thanks for the scripts Emmanuel and Robinhood. I will try and use them on my charts.
  • #1,678
  • Jul 18, 2019 8:41am Jul 18, 2019 8:41am
Quoting paroucia
{quote} i suggest you take all CHF pairs away. they are so hard to trade. as Davit do on his system and as i did today. lol good luck
I agree, and I don't like the CAD much better.
Always a Student, Never a Master - Emulate What Works
  • #1,679
  • Jul 18, 2019 8:45am Jul 18, 2019 8:45am
Thanks "the spoof" for your reply.
  • #1,680
  • Jul 18, 2019 9:05am Jul 18, 2019 9:05am
Quoting RobinHood
{quote} I agree, and I don't like the CAD much better.
Aha. so i need to review them again!
Thanks sir.
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