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Trading Made Simple 137,894 replies

MTF Indicators for the 'Trading Made Simple' system 241 replies

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Attachments: Trading Made Simple(r)
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Trading Made Simple(r)

Quoting emmanuel7788
{quote} you are doing well... your GBPAUD trade is a good example why we missed some trade opportunities when we are 'locked' in a trade following one instance of the exit rule. what if, you exited when the APB/HA candles changed colour when the price did not make higher high after that buy entry? you would then have another trade setup to sell, right? your AUDCHF is a good trade with 3 units of exit. Did you exit every unit with same size or do you prefer to exit with different size? Only your own experience will teach...
Yes I've thought about that GBPAUD trade and what would have happened with other alternatives. But first to answer your question, each unit has the same size, 0.5% each, so I risk 1.5% (1R), and potentially like here have 3% reward (2R). One of the disadvantages is that for setup that turn out not so great, I win 0.33R (0.5%) but lose -1R for a straight loss. That is partly the reason why, especially last week, my overall pips per trade ratio was too small. I'm preparing a different risk management approach starting next week.

I simulated if I had closed the 3rd unit exit rule was the HA color change:
Attached Image (click to enlarge)
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Overall I would have gotten 4.5R over the 3 trades, 1 loss & 2 winners. With my actual method, I would have gotten 3R with the same entries. So of course a trailing unit is better in those nice and long trends, which we never know in advance.
I think I'll try next week 2 units, 1 at 2R and one trailing at next HA color change.
Quoting emmanuel7788
{quote} no losing week is good... when we lose, we lose no more than 1R always when we win, we want to win more Rs .. 1.5R, 2.0R, 3.0R, 4.0R, 5.0R, .... so on. reward your effort with BE+ 2~3 pips
Hi Emmanuel,
What you've quoted above are my weaknesses....

BIG 1.) Losing more than 1R because I had the habit of thinking I need to give a trade an extra 20 - 30pips leeway sometimes even double because it has worked for me before but less than more, so Im realizing one must give back to the market so stick to your 1R firmly, take your loss like you said during the week, "No If's No Buts" so im getting on top of that behavioral flaw. Because that mentality can only open doors to big loses when really one should be doing the opposite and acting fast to limit a losing trade. Maybe even closing it before it hits your SL, WHY WAIT if the indicators have confirmed you're wrong.

2.) Im not winning 3R, R4, R5 where I SHOULD be so working on the indicator to help me there, I haven't really been letting my winners run.
ii) At a later stage I will look at developing a system to open positions in winning trades, in the book Phantoms Gift, he makes point that not only should we let our winners run but one should increase their position in such trades. I need to work out how I can do this in line with my beliefs to my trading plan (still in development).

The book Trading beyond the Matrix is helping me address my psychology and bad behavioral habits to my trading. This forum has been immense in so many different ways but number 1 my mindset. One truly needs self discipline to win at trading. Follow your rules to the T, dont deviate from the plan.

3.)This one I addressed, *not waiting for the candle to close, which means, what looks like a continuation hasn't been officially confirmed* or getting in ahead of first candle close.

So only when I get right with all of the above and a well practiced trading method, its confirmed rules based on plan of execution will I return to see consistent winning of a mature nature.

PS. I still have 3, maybe 4 books that I need to read before such a time, that I got off your profile attachment shares. Thankyou
The more you learn, the more you see
Quoting DrDave
{quote} That is rarely the case. Weaknesses are generally well established habits, and it has been demonstrated that changing of habitual behavior is extraordinarily difficult to do.
I would not use the words rarely the case & extraordinarily difficult to do, because Van Tharps methods and results are to the contrary. And I think Thespoof had a good post on this very subject on self destructive behavioral patterns and only when he addressed it has he now seen profits after years of failing.. Many people have corrected bad habits to become good traders.

This is why we correct our minds hopefully gaining knowledge and wisdom from the ones who have done it before us. Trading beyond the Matrix - Van Tharp and The Phantoms gift are great starting points to address such a notion. Because unless you correct it one will let their natural human behavior/ psychology run riot in a very dangerous arena. The success of Van Tharps courses/ books with tens of thousands of traders speaks for itself. Think Tharp!

Side note: Id just like to add, if we dont change our minds from systematic bad habits that are clearly 'self destructing' you might as well just give away the money you intend to trade at your local charity. I'm learning self discipline, trading psychology like managing emotions, NOT trading off feelings, NOT revenge trading, Not moving the SL, basically NOT breaking rules that are in place to protect you ....for example all these are fundamental to WINNING in this game, otherwise forget about it.

Find your weaknesses and work on them at the end of each day do a self assessment.

I;m by no means an expert but sharing what Ive learnt so far that has improved my trading 1000%.
Attached File(s)
File Type: pdf Phantom's Gift.pdf   371 KB | 278 downloads
File Type: pdf Trading Beyond the Matrix.pdf   4.5 MB | 4,641 downloads
The more you learn, the more you see
Quoting Marcusv007
{quote} Hi Emmanuel, What you've quoted above are my weaknesses.... BIG 1.) Losing more than 1R because I had the habit of thinking I need to give a trade an extra 10 - 20pips leeway because it has worked for me before but less than more, so Im realizing one must give back to the market so stick to your 1R firmly, take your loss like you said during the week, "No If's No Buts" so im getting on top of that behavior flaw. Because that mentality can only open doors to big loses when really one should be doing the opposite and acting fast to limit a...
Break even at ADR/3 plus a coupla pips is doing it for me then trailing stop to 2R. I might consider a double trade and only trailing the second one, but for now all is good and I am cautious about breaking something that ain’t broke.
identifying the valid trade signals that won’t make break even point would be useful but that’s probably the holy grail indicator.
Does anybody have the synergy APB MQ4 file? Ive already have the ex4 file.

Many thanks
3 days are used to read and learn 118 pages and 2,352 articles.
This is what I need!
Thank you Robin Hood and everyone!
Quoting marcara
Does anybody have the synergy APB MQ4 file? Ive already have the ex4 file. Many thanks

This post is easiest to reply before I spend the rest of my weekend replying some of the PMs I see in my inbox.

See some of these old posts and related subject on APB and HA

Synergy APB
Post#15,275
https://www.forexfactory.com/showthr...92#post6039292

Post#2663
https://www.forexfactory.com/showthr...82#post5281182

Synergy APB HeikenAshi_DM
Post#28,535
https://www.forexfactory.com/showthr...03#post7184503

Heiken Ashi pdfs
https://www.forexfactory.com/showthr...68#post6649768

Synergy E.A.S.Y trading method pdf
https://www.forexfactory.com/showthr...88#post6791088
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
Quoting Marcusv007
{quote} so stick to your 1R firmly, take your loss like you said during the week, "No If's No Buts".
Yes. You have a set of rules for how and when to take action; applying them like a robot will reinforce the same behavior, making future actions under the same conditions becoming nearly automatic.
Quote
Maybe even closing it before it hits your SL, WHY WAIT if the indicators have confirmed you're wrong.
Is closing before hitting SL in your exit plan? Is a determination of indicator signals confirming "you're wrong" part of your trading plan? If not, this flies in the face of your statement above. If you SUSPECT that when price goes against your position there are some conditions that can be be formulated into a set of action rules, then by all means you should study/test these action rules and determine if it would improve your long-term results. I would suggest that you scrutinize and compare various components of trades such as the one you presented to determine if there is some common feature(s) that leads to a less than desired outcome.

Quote
Im not winning 3R, R4, R5 where I SHOULD be so working on the indicator to help me there, I haven't really been letting my winners run.
Again, do you have a concrete plan for how to do this? As I stated above, scrutinize these trades that gave less than desirable results and try to find some common feature that led to the results. It could be as simple as not having an action plan, or not following a plan that you do have.

Quote
Follow your rules to the T, dont deviate from the plan. This one I addressed, *not waiting for the candle to close, which means, what looks like a continuation hasn't been officially confirmed* or getting in ahead of first candle close. So only when I get right with all of the above and a well practiced trading method, its confirmed rules based on plan of execution will I return to see consistent winning of a mature nature.
Human emotion is a powerful dictator of our actions; it can cause us to over-ride all kinds of rules, regulations, plans, ... When trading with a plan, one of the most common reasons for deviating from the plan is human emotion. So why do we get emotional about a trade the seems to be going against us when we have a plan? Because, we have, at least for a moment, a lack of confidence in the plan. That is part of human nature; even after the plan has proven to operate AS DESIGNED, when the price action starts moving against the desired position, FEAR quickly steps in. And in the case where price action rockets our position to extreme profit levels unbelievably quickly, elation (and often greed) kick in.

Think about this: When talking about correcting behaviors, such as those from fear that are deemed negative, we see many talks, books, lectures, etc., Where are the same lectures and books about controlling ALL of the emotion-based behaviors? Why do we not strive to control those moments of elation? That is a powerful change of emotional state that surely must have an effect on our desired robot-like trading behavior. After all is said and done, isn't it logical to work on controlling ALL behaviors brought on by emotion, rather than selecting some subset of behaviors?
The markets are speaking to you. Do you know their language? I M T
Quoting DrDave
{quote} Yes. You have a set of rules for how and when to take action; applying them like a robot will reinforce the same behavior, making future actions under the same conditions becoming nearly automatic. {quote} Is closing before hitting SL in your exit plan? Is a determination of indicator signals confirming "you're wrong" part of your trading plan? I
Hi Dave, Thank you for taking the time to reply. I by no means wish to debate my findings you either drink the water or you don't, it really is that simple. I'm not here to convince anyone of my thinking but only to share and share alike.

But I will say: What I expressed I learnt from the 2 books I shared in my post. Period. Anyone here would do well to read them and make their own minds up.

Have a super weekend.
The more you learn, the more you see
Quoting emmanuel7788
{quote} Have you read this book? It can lift you to very high level in trading the markets. You will develop the skills to trade both 'good' and 'bad' market conditions. {image}
Post of the month [July]!
The more you learn, the more you see
Quoting chnp
{quote} hi emm, do we have any mt5 tms tool? thanks.
Hi chnp

what MT5 tms tools are your looking for?

you have the TMMS Osc by SwingMan now and that is a nice tool in addition to the 7 indicators which are already avalaible in MT5.

regards
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
Quoting nhanbiet
3 days are used to read and learn 118 pages and 2,352 articles. This is what I need! Thank you Robin Hood and everyone!
Well done nhanbiet.

Saves you asking a lot of (already answered) questions

Just for emphasis, you should ALWAYS wait for your Signal Candle to close before entering a trade.

Trade well.
[quote = krismitt; 12420167] {quote} Làm tốt như vậybiet. Tiết kiệm cho bạn khi hỏi rất nhiều câu hỏi (đă trả lời) Chỉ cần nhấn mạnh, bạn LUÔN LUÔN chờ Đèn tín hiệu của ḿnh đóng trước khi tham gia giao dịch. Giao dịch tốt. [/ Quote]

Thank you very much!
- I will always trade when the signal candle on H4 closes. And I will only trade signals from H4 or higher.
- When the signal on H4 moves properly, I can trade according to the signal developed on Day and Week.
- When there is a signal, I will move down to M5 to get a good entry point
- I only trade Forex with all 28 currency pairs. No Gold, No Oil, no indicators ... (because it's hard to identify when calculating pip for R)
- I will check the market every 4 hours to adjust the order or detect new signals.
- And I will manage orders, manage money according to the 3 stages that RH mentioned
That is an overview of some of the rules in my trading plan next time. I wish everyone luck and success!
USDTRY

Crossover Trade.
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Click to Enlarge Name: USDTRY H4.jpg Size: 109 KB

Or if you prefer, D1 Continuation Trade
Attached Image (click to enlarge)
Click to Enlarge Name: USDTRY - D1.jpg Size: 106 KB


Disclosure: I don't trade it; Spread too high for me.

Trade well.
Quoting emmanuel7788
{quote} Hi chnp what MT5 tms tools are your looking for? you have the TMMS Osc by SwingMan now and that is a nice tool in addition to the 7 indicators which are already avalaible in MT5. regards
Sir, I was wondering how do you manage your trade exits when using tmsr? In your vast experience, is it better to just aim for 1:2 rr? I believe the 3 part MM system which robin posted is geared for this, as most trades don't really run that long before reversing. But I also noticed that a 1:2 rr system can easily give back alot of profit to cover for full 1 r losses when pairs are ranging. So is it better not to set any fixed TP and just trail by 2 candles back, and also exit by 2 out of 7 indicator color change?
Detach yourself from the value of money - Mr. Pip
Hi everyone

I am a newbie and I am not good at analyzing the trend

I found there was a POP GUN pattern in EU daily chart, I want to see how experience traders see the market flow.

From daily chart, we can see there is a wedge at the bottom of that 'pop gun', and then I check with the H4[1,2,3,4 close] the closing H4 is putting the price back below that bottom(Is it just the taking profit of Friday or they did this intentionally).

In the weekly chart, the price didnt close below that level. The long wick means buyers and sellers did not agree to the low price and they agree at the Close.

What if they agree the price in weekly but not in daily, I might not describe it very clearly, here is my chart.

Thanks
Attached Image (click to enlarge)
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Anger begins with folly, and ends with repentance. Pythagoras
Quoting Ivan0901
Hi everyone I am a newbie and I am not good at analyzing the trend I found there was a POP GUN pattern in EU daily chart, I want to see how experience traders see the market flow. From daily chart, we can see there is a wedge at the bottom of that 'pop gun', and then I check with the H4[1,2,3,4 close] the closing H4 is putting the price back below that bottom(Is it just the taking profit of Friday or they did this intentionally). In the weekly chart, the price didnt close below that level. The long wick means buyers and sellers did not agree to...
Hi Ivan0901,

Are you in the correct thread, it looks like your charts are set up for trading made simple which uses the TDI. On this thread we use a different set of indicators.

Cheers
Andy
Please help me with one of the statament from the first post:

"It's often much riskier to enter a new trade immediately after an exceptionally large bar. So it's not suggested that you do it."

Can you please specifiy in terms of Pips or Percentage what kind of candle should I avoid?
Thanks in advance
Another question. Looks to me that one important brick of this method is the Synergy Candles.
This is a proprietary indicator and I would like to know the formula behind it, is there any documentation about it?
If not, can I use just the Heikein Ashi Candles?

Thanks in advance
Quoting sahara85
Another question. Looks to me that one important brick of this method is the Synergy Candles. This is a proprietary indicator and I would like to know the formula behind it, is there any documentation about it? If not, can I use just the Heikein Ashi Candles? Thanks in advance
Synergy APB are not required. I do fine using the Heiken Ashi indicator that comes with MetaTrader.
The markets are speaking to you. Do you know their language? I M T
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