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Trading Made Simple

  • #97,221
  • Jul 23, 2019 5:21pm Jul 23, 2019 5:21pm
Quoting nigpig
Not one of my best entries recently. Went wrong from the start and I should have not continued. However, I know trade management would help by getting a better average entry price. Eventually, manually closed in profit.-51+258 +532=789pips. {image}
The Weekly looks okay and favour selling at the top of the rising channel and in worst case scenario your cut-loss is previous 2 weeks high so that is safe.

Do you have your 'safety valve' when you trade with MEME?
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #97,222
  • Jul 23, 2019 5:23pm Jul 23, 2019 5:23pm
Quoting emmanuel7788
EURAUD Jul 23 H1 Frankfurt Open ... double top with Asian High and jumping in with Stoch(8,3,3) cross and TDI Realtime mode ... {image}
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EURAUD Jul 23 H1 Frankfurt Open

Got stopped out after taking some profits.

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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #97,223
  • Jul 24, 2019 2:39am Jul 24, 2019 2:39am
Quoting emmanuel7788
{quote} The Weekly looks okay and favour selling at the top of the rising channel and in worst case scenario your cut-loss is previous 2 weeks high so that is safe. Do you have your 'safety valve' when you trade with MEME?
I set my safety valve at 2ADR of the average entry price.
  • #97,224
  • Jul 24, 2019 12:59pm Jul 24, 2019 12:59pm
Quoting nigpig
{quote} I set my safety valve at 2ADR of the average entry price.
No, 'safety valve' is not the ADR.

back to this post by Mingary:
https://www.forexfactory.com/showthr...82#post9893382

<>
I needed a safety valve to release the pressure when opening too many "Monty Hall doors" ...
So, I found this indicator:

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<>

I like his analogy using the steam engine. When trading forex, what is equivalent to 'the pressure'? ...Where does the steam generated go to and what it does? ...What controls the speed of the locomotive? etc.

Did Big E used any safety valve when he traded back in 2010 and 2011? ...What was his 'safety valve'?

In trading forex, what is synonymous with a Monty Hall door?

How do we correlate Big E' trading style with a modeling of this steam engine?

It was fun when I did this and forward tested MEME strategy in that thread.

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https://www.forexfactory.com/showthr...93#post9907493
https://www.forexfactory.com/showthr...43#post9909243
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #97,225
  • Edited 1:34am Jul 25, 2019 12:54am | Edited 1:34am
Down, down, down she goes. Where she stops, nobody knows.

Now in an area where there were buyers in April and May. Back in August, 2016, there were sellers in this area; are then any left, or did they already unload all of their sell requests?

Look at last 5 days of EUR Index--down, down, down. ANd USD Index--up, up, up.
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To free Gazans of Hamas, use whatever it takes.
  • #97,226
  • Jul 25, 2019 7:14am Jul 25, 2019 7:14am
Have not posted in a long time.
What is the point?
Same rules, same chart, same set up.

This was a beautiful set up wich don't come everyday.
M15 gave a timely warning with a nice angle below 5 almost 5H30 and H1 confirmed with a better angle of 6
----
Follow TDI
How read: Post 97,086, Post 97,098
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  • #97,227
  • Jul 25, 2019 8:04am Jul 25, 2019 8:04am
Quoting Tekkies
Have not posted in a long time. What is the point? Same rules, same chart, same set up. This was a beautiful set up wich don't come everyday. M15 gave a timely warning with a nice angle below 5 almost 5H30 and H1 confirmed with a better angle of 6 ---- Follow TDI How read: Post 97,086, Post 97,098 {image}
Tekkies, so good to hear from you again....
  • #97,228
  • Jul 25, 2019 1:17pm Jul 25, 2019 1:17pm
Quoting emmanuel7788
In trading forex, what is synonymous with a Monty Hall door?
How do we correlate Big E' trading style with a modeling of this steam engine?
I have no idea. Clues please?
  • #97,229
  • Jul 25, 2019 6:20pm Jul 25, 2019 6:20pm
Quoting nigpig
{quote} I have no idea. Clues please?

Clue No.1

Note what Mingary said: "...opening too many "Monty Hall doors"

in the entertainment TV game show, there are only 3 doors. In trading, we can have more than 3 doors to open, right? You decide how many doors.

when he did his back-testing you know MT4 strategy tester can only test one currency pair, right?

but when do forward testing and trade live in real market conditions, we can trade several pairs in one account, right?

Big E treated his money like entertainment money he would take to Las Vegas and he used to risk 15% to 30% of his $10k account in one single entry trade. And on some occasion he would divide his risk 15% to 30% and take several trades in different pairs, Did you know this?

Rather than betting 2 to 4 standard lots in one single entry on one currency pair, why not trade smaller lots and spread these out over time and different prices? How many smaller lost trades and the time distribution is variable which you have to figure out on you own. I posted different examples since 2015 till 2017 and with live trade examples.

Now think of what one Monty Hall door represents.

more.../
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #97,230
  • Jul 26, 2019 12:28am Jul 26, 2019 12:28am
So many small lot positions over many different currency pairs. Which can be MEME(one or more doors) with small lot(spread risk), spread out over different currency groups(even placing of risk).

Edit: So the safety valve is closing out some positions to reduce positions(close doors). Or possibly to match some open positions with managed opposite hedge.
  • #97,231
  • Jul 26, 2019 7:05pm Jul 26, 2019 7:05pm
Quoting nigpig
So many small lot positions over many different currency pairs. Which can be MEME(one or more doors) with small lot(spread risk), spread out over different currency groups(even placing of risk). Edit: So the safety valve is closing out some positions to reduce positions(close doors). Or possibly to match some open positions with managed opposite hedge.
trading with smaller lots can also lead to account destruction in the recent months when one does not have a 'safety valve' built in his system. This is even worst when the trader places many positions in very close range prices and did not have the advantage in the use of the average entry price with proper positions sizing.
Mingary quoted an example:
https://www.forexfactory.com/showthr...4#post12332434


you need to figure out the Clue No.1 above and what the Monty Hall Door is applied to trading and what each Monty Hall Door is in your trading strategy/system.
In that popular TV game show, they offer 3 doors to be open one at a time. If the 1 of the 3 MH doors is the GAME OVER exit but the other 2 doors keep you in the GAME. I made a game plan for TME MEME 2018/2020 and I am still in the game as of July Week 30 closed yesterday. I did not have to open the 3rd MH door so I play on next week/month.

I have already mentioned, I leverage on trading multiple pairs (at any one time I have 5 pairs open) in one same account. The pairs are selected from my watch-list of 20 pairs.

Do Not give up so soon, this took me almost 2 years (to be exact..18 months) practice in live market trading and that was more than 10 years ago. It is just a money and risk management game with daily mental fitness strategy development.

more.../
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #97,232
  • Jul 26, 2019 7:09pm Jul 26, 2019 7:09pm
Quoting Tekkies
Have not posted in a long time. What is the point? Same rules, same chart, same set up. This was a beautiful set up wich don't come everyday. M15 gave a timely warning with a nice angle below 5 almost 5H30 and H1 confirmed with a better angle of 6 ---- Follow TDI How read: Post 97,086, Post 97,098 {image}
Hey Tekkies

you asked:
<>
What is the point?
<>

The point is have you achieved CONSISTENCY in profitability with sames rules, same chart, same set up...?

Yes, I agree that kind of setup don't come everyday. It is one of those what Lotto model win is for you to hit the home run. But did you take full advantage of that setup? How much of that account grew with that setup?
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #97,233
  • Jul 29, 2019 5:46am Jul 29, 2019 5:46am
Other Setup
Took the trade with M15 crossover
- M15 green angle below 5
- Broke Resistence level
- Stoch confirm direction
----
H1 Green started to angle down and confirmed with a crossover angle at almost 5
----
Take note how H1 kept the trade open when M15 green angled up again.
Follow TDI
How? Read: Post 97,086, Post 97,098
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  • #97,234
  • Jul 29, 2019 6:52am Jul 29, 2019 6:52am
Quoting Tekkies
Other Setup Took the trade with M15 crossover - M15 green angle below 5 - Broke Resistence level - Stoch confirm direction ---- H1 Green started to angle down and confirmed with a crossover angle at almost 5 ---- Take note how H1 kept the trade open when M15 green angled up again. Follow TDI How? Read: Post 97,086, Post 97,098 {image}
Actually, the H1 did not keep the trade open, because H1 LAGS the action of m15. What actually happened was that m5, which is causing the up bars to paint on the m15, did not go up very far in the rally, so when m5 turned back down, THAT was what drove the continuation down. H1 was irrelevant for the continuation, other than to show that it was in a down leg so should sell rallies of the lower charts.

If m5 rally would have gone far enough up, it would cause the m15 TDI to cross up, which THEN, according to how you were trading it, would have killed your down move. For me, I would ALSO be looking at H1 to see if the TDI crossed up OR NOT before the m15 TDI crossed back down. If the m15 crossed down before H1 crossed up, then THAT is a continuation down to sell more on m15. If H1 also crossed up before m15 crossed back down, THAT is the killer for the m15 rally. (Well, with this condensed view it is. But we really need to look at the H2 and H4 and decide if H1 is also making a sellable rally. In any case, H1 would become our focus, and m15 only used later if we sell H1 rally.)
(m30 TDI hardly moved up, so you already saw on that time frame without looking up to H1 that the m15 rally was to be sold.)

The blue verticals mark your short entry and then where you saw the TDI make a rally, but "H1 kept you in" (not).


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To free Gazans of Hamas, use whatever it takes.
  • #97,235
  • Jul 29, 2019 7:58am Jul 29, 2019 7:58am
Quoting DrDave
{quote} Actually, the H1 did not keep the trade open, because H1 LAGS the action of m15. What actually happened was that m5, which is causing the up bars to paint on the m15, did not go up very far in the rally, so when m5 turned back down, THAT was what drove the continuation down. H1 was irrelevant for the continuation, other than to show that it was in a down leg so should sell rallies of the lower charts. If m5 rally would have gone far enough up, it would cause the m15 TDI to cross up, which THEN, according to how you were trading it, would...
It is because H1 lag M15 action that the trade was not closed. H1 was going down at a steep angle and that kept the trade open
Post#6.........Exit your trade when the green TDI line goes flat, starts to hook over or makes a check mark reversal.
---
"If m5 rally would have gone far enough up, it would cause the m15 TDI to cross up, "
How do you read a chart? M15 did cross up.
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  • #97,236
  • Edited 9:25am Jul 29, 2019 9:13am | Edited 9:25am
Quoting Tekkies
{quote} It is because H1 lag M15 action that the trade was not closed. H1 was going down at a steep angle and that kept the trade open Post#6.........Exit your trade when the green TDI line goes flat, starts to hook over or makes a check mark reversal.
That all happens because of the price action on the LOWER charts, such as m5. Why do you think the H1 STAYED going down at a steep angle? Because of the FAILURE of price to continue up very far on m5!! It takes 12 m5 bars to create an H1 bar. So if those bars of m5 go REALLY FAR UP in a rally, don't you think that you will have a really nice BULL BAR on H1, that most likely will also turn TDI slope from down to up? And if the m5 rally is really weak so price goes up very little, isn't H1 at BEST going to paint an inside bar? So is it REALLY H1 that is controlling the M5 and "making" m5 stay down, or is it the m5 CREATING the H1?
Quote
--- "If m5 rally would have gone far enough up, it would cause the m15 TDI to cross up, " How do you read a chart? M15 did cross up.

HAHAHA! You call THAT a TDI crossing up??? Then I can only say that you think that support and resistance are marked by a very thin LINE rather than by a ZONE. LOL
To free Gazans of Hamas, use whatever it takes.
  • #97,237
  • Jul 29, 2019 9:48am Jul 29, 2019 9:48am
Quoting DrDave
{quote} HAHAHA! You call THAT a TDI crossing up??? Then I can only say that you think that support and resistance are marked by a very thin LINE rather than by a ZONE. LOL
Yep, that is a crossup.
Post#115........... A Normal entry is when green crosses red on the TDI (and you can actually see the green on the other side)
Many that use TDI would say that is a clasic bounce trade.
Post#6.............. The only exception is if green bounces off red and continues... it's ok to re-enter on the bounce...
Post#54............ A set up is NOT GREEN TOUCHING RED. Why? Many times green bounces back and the original direction continues. That's a bounce trade.
(Read BigE's post in this thread (bounce is mentioned many times)
-----
Don't use M5. Got all the information on those two chart's I need with a peek now and then at D1 and that is how I trade.
-----
What is so funny?
It all depends on how the trader sees support and resistance. Some will say: line, range, zone. Some even say it does not exist.
This is how I think: Post 95,696
Enjoy.
  • #97,238
  • Edited 11:33am Jul 29, 2019 10:58am | Edited 11:33am
Quoting Tekkies
{quote} Yep, that is a crossup. Post#115........... A Normal entry is when green crosses red on the TDI (and you can actually see the green on the other side) Many that use TDI would say that is a clasic bounce trade. Post#6.............. The only exception is if green bounces off red and continues... it's ok to re-enter on the bounce... Post#54............ A set up is NOT GREEN TOUCHING RED. Why? Many times green bounces back and the original direction continues. That's a bounce trade. (Read BigE's post in this thread (bounce is mentioned many...
Quoting Tekkies
{quote} .....This is how I think: Post 95,696 Enjoy.

Post#95696 ... LOL

Tekkies, I think you don't have any of the 8 EDGES above your Post#95696

Have fun Tekkies and do not ignore Post#261.
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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #97,239
  • Jul 29, 2019 11:21am Jul 29, 2019 11:21am
Likely that I will enter on a HA body close above red dashed line. At candle H, plus a few pips.
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Vincit qui se vincit.
  • #97,240
  • Jul 29, 2019 11:49am Jul 29, 2019 11:49am
Quoting emmanuel7788
{quote} {quote} Post#95696 ... LOL Tekkies, I think you don't have any of the 8 EDGES above your Post#95696 Have fun Tekkies and do not ignore Post#261. {image}
I "think" you will recognize yourself.

"Energy vampires are emotionally immature individuals who have the sense that the whole world revolves around them. They are almost incapable of seeing things from another person's perspective. They often lack empathy."

https://www.forbes.com/sites/melodyw.../#b15c6532cf33
Have a nice day Emmanuel.
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