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Trading Made Simple(r)

  • #2,261
  • Jul 31, 2019 5:04pm Jul 31, 2019 5:04pm
EURJPY Aug 01 Weekly chart open positions

Attached Image (click to enlarge)
Click to Enlarge Name: EURJPY Aug 01 W1 trades open 01-08-2019 07-56-26.png Size: 67 KB


same parameters:

SL 3.0 ADR(100) days
TP 5.0 ADR(100) days

Average entry price with 8 open positions is 120.868 ... if market retraces to that level I will perform my usual trading task with discipline... no ifs no buts.
To maximize profits I am prepared to give back 50% of what the market gave me.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #2,262
  • Jul 31, 2019 5:15pm Jul 31, 2019 5:15pm
Continuation trade on EURNZD.
Attached Image (click to enlarge)
Click to Enlarge Name: EURNZDH4.png Size: 65 KB
  • #2,263
  • Jul 31, 2019 6:14pm Jul 31, 2019 6:14pm
Quoting emmanuel7788
July month trading results best month of this year... not showing off nor boasting here but to inspire you folks to keep on working hard at it... do not give up so easily. {image} my decision to drop the TDI in 2017 was the right one. Just use the plain old common indicators Stoohastics and RSI.
Emmanuel, quick question, how do you deal with correlation, multiple positions opened at the same time in different pairs, do you pay attention to it or don't?
thinking outside the box
  • #2,264
  • Jul 31, 2019 6:15pm Jul 31, 2019 6:15pm
Quoting Jan81
Continuation trade on EURNZD. {image}
Okay, this trade isn't going great at all. Smaller TF's already turned down, so this is a loss.

A better continuation trade would have been this one for +45 pips, which I had missed.
Attached Image (click to enlarge)
Click to Enlarge Name: EURNZDH4.png Size: 65 KB
  • #2,265
  • Jul 31, 2019 7:53pm Jul 31, 2019 7:53pm
Quoting RobinHood
Tomorrow I am going on a long cruise and I just wanted to let everyone know that I will be gone for about the next 12 days or so. I wish everyone the best in their trading!
Have a great holiday!
Just trying to put a kiss on the cheek of success
  • #2,266
  • Jul 31, 2019 9:02pm Jul 31, 2019 9:02pm
Took this crossover trade short. All indicators agree, so let's see.
Attached Image (click to enlarge)
Click to Enlarge Name: EURAUDH4.png Size: 65 KB
  • #2,267
  • Jul 31, 2019 10:13pm Jul 31, 2019 10:13pm
Quoting Jan81
Took this crossover trade short. All indicators agree, so let's see. {image}
My screenshot says no. Is this a broker difference or TMMS repaint?
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 139 KB
  • #2,268
  • Jul 31, 2019 10:18pm Jul 31, 2019 10:18pm
Quoting 40PipsAlan
{quote} My screenshot says no. Is this a broker difference or TMMS repaint? {image}
Different broker. TMMS does not repaint once a candle is closed.
  • #2,269
  • Jul 31, 2019 10:37pm Jul 31, 2019 10:37pm
Just a thought...

This is clearly a profitable, low-stress system to trade with. It obviously emphasizes a TIME rather than PRICE-centric approach. That is, with each tick of the clock (i.e. bar close) of the H4 timeframe, indicators are assessed to determine if a signal is displayed; price is not assessed for signal determination.

So, if the core tenet of the entry is TIME/INDICATOR based, why is the exit based on price? And a somewhat arbitrary setting for the price. As a scientist, I have a fundamental question that I first apply--"What if...?", and when I arrive at an answer(s), my next question is "How?".

So, what if you look at a time/indicator signal for the exit rather than a price target? How can it be done? One approach that will not deviate much from your current entry system is to open the H1 chart and apply your entry conditions for closing the trade. Because of the fractal nature of the "normal" market moves, you can see with finer precision on H1 the thrust, pullback/consolidation, continuation legs that comprise a single leg of the H4. This provides at least two useful opportunities: 1.) You can make an add-on continuation trade on a signal of the continuation leg; 2.) you can see the continuation leg complete (via a signal in the opposite direction), and make an exit earlier than the using the H4.

I don't want to start a discussion here that could turn into forum dilution or out right hijacking, so I won't go into details. As I said, just a thought.

What if? How?
To free Gazans of Hamas, use whatever it takes.
  • #2,270
  • Jul 31, 2019 11:03pm Jul 31, 2019 11:03pm
Quoting emmanuel7788
{quote} Hey RH Enjoy the cruise ... Bon Voyage! {image} I am working very hard towards 2020 my retirement year-long cruise around the world. Its TMS MEME Evolution ... $50K to $400k in 18 to 36 months., anything can happen 2018 to 2020... if I hit with a drawdown of $25K then it is game over. so far so good ... no losing month ... my target is work on maintaining consistency.
Is that RH personal yatcht?
  • #2,271
  • Jul 31, 2019 11:13pm Jul 31, 2019 11:13pm
Quoting emmanuel7788
EURJPY Aug 01 Weekly chart open positions {image} same parameters: SL 3.0 ADR(100) days TP 5.0 ADR(100) days Average entry price with 8 open positions is 120.868 ... if market retraces to that level I will perform my usual trading task with discipline... no ifs no buts. To maximize profits I am prepared to give back 50% of what the market gave me.
So boss, the bottom line for EUR/JPY August is sell it. The monthly,weekly,daily candles all closed outside the HMA/EMA channel?
  • #2,272
  • Jul 31, 2019 11:13pm Jul 31, 2019 11:13pm
Quoting 40PipsAlan
{quote} Is that RH personal yatcht?
Yes! That is the one he takes on the longer cruises. For shorter cruises of just a day or two, he has a 40-footer.
To free Gazans of Hamas, use whatever it takes.
  • #2,273
  • Jul 31, 2019 11:49pm Jul 31, 2019 11:49pm
Quoting daeddie
Have fun RH and thanks for your method. OMG EMANNUAL! I want those % returns! ugh!
Congratulations Emmanuel! Good luck with your new set of pairs!

Van Tharp book is more than a trading book, it is a transformational book. THanks Emmanuel and Robin.

Some years ago I started ACIM but maybe I was not prepared, I have just started ACIM. Thanks again!
  • #2,274
  • Jul 31, 2019 11:55pm Jul 31, 2019 11:55pm
According to MN Chart:
EURGBP crossover trade long , It is in a resistamce area difficult to continue. ?¿¿?
EURUSD continuation trade short
USDCAD crosover trade short, the área is lateral ¿¿?¿
GBPAUD crossover trade short
GBPNZD crossover trade short

Nevertheless, I do not know if it is useful to look at MN chart if the trades are in H4. Any comments will be welcomed.
  • #2,275
  • Aug 1, 2019 12:14am Aug 1, 2019 12:14am
Quoting DrDave
{quote} Yes! That is the one he takes on the longer cruises. For shorter cruises of just a day or two, he has a 40-footer.
Best change his name to HRH
  • #2,276
  • Aug 1, 2019 1:57am Aug 1, 2019 1:57am
Quoting daeddie
Have fun RH and thanks for your method. OMG EMANNUAL! I want those % returns! ugh!

Hi deaddie

To achieve those %returns demands commitment and to treat trading as a business.

Quoting Big E the OP of Trading Made Simple in one of his early post in Forex Factory (Post#296)
"Learning to trade is a lifetime process. Develop a trading system that fits you and practice, practice, practice. When your confident... go live."

First, you must learn and master the trading methodology as RH laid out in Post#1. The next step is to work on and develop a Money Management strategy and develop your own winning system that fits you.

I made a trading business plan Plan_IX 2018/2020 which is to turn a $50K account to $400K in 36 months (3 years).
The first year 2018 started cautiously with small % return and as the account grew I trade more pairs.

Below is my 2018 results.

You can achieve the same, start with 5% per every 20-trading days cycle.

How much time you will take depends on you only.
Attached Image
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #2,277
  • Aug 1, 2019 2:13am Aug 1, 2019 2:13am
Quoting Mercennary
{quote} Emmanuel, quick question, how do you deal with correlation, multiple positions opened at the same time in different pairs, do you pay attention to it or don't?
I have 5 groups of currency pairs listed below,

Group#1
AUDUSD
EURUSD
GBPUSD
USDCAD

Group#2
EURAUD
EURNZD
EURCAD
EURGBP***

Group#3
GBPAUD
GBPNZD
GBPCAD

Group#4
USDJPY
AUDJPY
EURJPY
GBPJPY

Group#5
AUDCAD
AUDNZD
NZDCAD

With an initial $50K account deposit to start with, I allocate $10K to trade a pair from each group. I avoid taking trades in two pairs from the same group hence avoiding the correlation and increase risks. Only when the account grow and for every $10K growth, I will then add another pair from the same group but only when there are good setups with potential price swings which can produce positive R:R.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #2,278
  • Edited 4:42am Aug 1, 2019 3:02am | Edited 4:42am
Check GBPJPY in about 2 hours for continuation sell... (I already bagged 60 pips with 0.06 lots, but that was based on H1, not H4).
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 32 KB


Update: SOLD
To free Gazans of Hamas, use whatever it takes.
  • #2,279
  • Aug 1, 2019 3:05am Aug 1, 2019 3:05am
Quoting emmanuel7788
{quote} I have 5 groups of currency pairs listed below, Group#1 AUDUSD EURUSD GBPUSD USDCAD Group#2 EURAUD EURNZD EURCAD EURGBP*** Group#3 GBPAUD GBPNZD GBPCAD Group#4 USDJPY AUDJPY EURJPY GBPJPY Group#5 AUDCAD AUDNZD NZDCAD With an initial $50K account deposit to start with, I allocate $10K to trade a pair from each group. I avoid taking trades in two pairs from the same group hence avoiding the correlation and increase risks. Only when the account grow and for every $10K growth, I will then add another pair from the same group but only when there...
Thanks for sharing.

Wich % do you risk from the 10.000$ in each trade?
  • #2,280
  • Edited 3:51am Aug 1, 2019 3:37am | Edited 3:51am
Quoting Celal
... can you help mi to find this ''sm TMMS oscilallator'' filter for mt5 ...
In "Trading Made More Simpler" I have posted a MT5 version, many pips with it!

https://www.forexfactory.com/showthr...1#post12415711
Attached File(s)
File Type: mq5 smTMMS Oscillator-MT5_v2.0.mq5   6 KB | 447 downloads
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