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Trading Made Simple the right way, and other trading lessons 334 replies

Indicators for the 'Trading Made Simple' system 343 replies

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Trading Made Simple system follower - Thanks to eelfranz 9 replies

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Trading Made Simple(r)

  • #2,541
  • Aug 8, 2019 1:06am Aug 8, 2019 1:06am
Quoting chnp
{quote} Hi Emm, Do you have HMA for mt5? Thanks.

Hi chnp

you will find one here:

https://www.mql5.com/en/code/549

make sure to follow the instructions and to copy the smooth algorithms library file to the include folder.

once setup correctly, save your own chart template as shown below.

Attached Image (click to enlarge)
Click to Enlarge Name: MT5 colorhma.png Size: 46 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #2,542
  • Aug 8, 2019 1:07am Aug 8, 2019 1:07am
Quoting Supreme1394
Update : UJ stopped out at -1R {image}
Yah, kicked me out at break even +a couple. Protect the capital
  • #2,543
  • Aug 8, 2019 1:08am Aug 8, 2019 1:08am
Quoting Supreme1394
Update : UJ stopped out at -1R {image}
Hi Bud, Did it not go atleast 30pips in the green? Perhaps you need to consider locking in atleast 15pips after any trade retracts. I managed my customary 23pips i.e. 20 profit plus 3 for my trouble.
You can always re-enter if everything still looks ok later, Ive done it several times and banked more good profit.

My motto: Never let a winning trade become a losing trade.
The more you learn, the more you see
  • #2,544
  • Edited 5:07am Aug 8, 2019 1:58am | Edited 5:07am
Swingmans Risk calculator is the biz. U Da man
Attached File(s)
File Type: ex4 smTMMS RR-Calculator_v1.1.ex4   22 KB | 350 downloads
  • #2,545
  • Aug 8, 2019 1:59am Aug 8, 2019 1:59am
Quoting emmanuel7788
{quote} Hi chnp you will find one here: https://www.mql5.com/en/code/549 make sure to follow the instructions and to copy the smooth algorithms library file to the include folder. once setup correctly, save your own chart template as shown below. {image}
Thank you so much!
  • #2,546
  • Aug 8, 2019 3:41am Aug 8, 2019 3:41am
Hi Everyone

Just wondering if anyone can help/direct me to the post where I can find the ways to fix the 'Market Price Label' and 'The Bar Clock'. It seems I missed it if it has been discussed already. I have read up to the current page or post to date.

After I've downloaded, saved the templates under the templates folder and applied Template 1 for the charts, the Market Price Label showed and stayed at 139.85 it didn't seem to update or work. It's been a couple of days now that I've got it.

Also, the Bar Clock doesn't appear on the charts. I was wondering if it's because I've got Windows 8 on my laptop? Yep, pretty old computer am afraid!

Thanks for the help in advance!
  • #2,547
  • Aug 8, 2019 3:51am Aug 8, 2019 3:51am
Quoting emmanuel7788
{quote} you were 23 hours late.... your Daily bar/candle has 9 minutes to its Close. scan Daily when the bar/candle closed and a new daily bar/candle opens. do you see the bars/candles made higher high with higher Close? what do the APB/HA candles look like with the HMA and 5EMA? what do the Stoch(8,3,3) and Stoch(14,3,3) lines look like what does the RSI(14) line looks like?
Thank you emmauel for your thoughts !
I don‘t get the part with the daily close though....
My workflow is to scan the H4 charts for continuation setups. If I find any, I look at the corresponding daily ( and eventually weekly ) to see if the signal is with the main trend direction.

When you say „your daily candle has 9 minutes to it‘s close“ it sounds like I‘m only supposed to trade the H4 at the beginning of a new daily candle ??
Best,

Mark
  • #2,548
  • Aug 8, 2019 4:20am Aug 8, 2019 4:20am
Quoting 40PipsAlan
{quote} Yah, kicked me out at break even +a couple. Protect the capital
But why? The candle didn't close lower, aren't we supposed to protect our trade by means of 2 candle trail stop? Moving your trade to BE within the same candle itself will cause you to get kicked out of many winning trades, no room for small retracements.
Detach yourself from the value of money - Mr. Pip
  • #2,549
  • Aug 8, 2019 4:23am Aug 8, 2019 4:23am
Quoting Marcusv007
{quote} Hi Bud, Did it not go atleast 30pips in the green? Perhaps you need to consider locking in atleast 15pips after any trade retracts. I managed my customary 23pips i.e. 20 profit plus 3 for my trouble. You can always re-enter if everything still looks ok later, Ive done it several times and banked more good profit. My motto: Never let a winning trade become a losing trade.
Hi, thanks for your feedback. if you lock in your pips so fast, won't you get bad risk reward in the long run? As you will get stopped out for small number of pips very often.
Detach yourself from the value of money - Mr. Pip
  • #2,550
  • Aug 8, 2019 4:33am Aug 8, 2019 4:33am
Quoting Supreme1394
{quote} But why? The candle didn't close lower, aren't we supposed to protect our trade by means of 2 candle trail stop? Moving your trade to BE within the same candle itself will cause you to get kicked out of many winning trades, no room for small retracements.
100% correct, Its a personal preference for me.... I mostly day trade and will let the odd trade go max 3 days. This from a reply Emmanuel shared the other day (Big E - TMS thread) sums it up for me. At the end of the day you will see what works for you as to what level of time you're able to keep an eye on your trades. However I risk 5 % my account per trade. TMSr works solid for me to ensure that hardly lose on a trade because of this method Im right over 94% of the time. So you must work out what works for you. Its only a problem if its happening more often that winning. I only wanted to shared that thought.

Eelfranz:

"I've never used money management rules like most people use it... 2-3% on a trade... never seemed to fit my personality and I'm sure it's frustrated more than a few of you out in Forex Land...

Most of my trades use from 15-30% of my account... why? That's where I feel most comfortable trading.... and why one of MY PERSONAL RULES is to exit the trade at the 12-15 pip pullback region... Regardless of the time frame... It's always worked for me... and made me pips...

I take the best trade set ups... I got the patience of Job and Moses...

I've always had the nack of making up any losses pretty fast so it doesn't scare me... I'm confident !

This secret is just between you and me...

I don't recommend it for anyone else...
The more you learn, the more you see
  • #2,551
  • Aug 8, 2019 4:33am Aug 8, 2019 4:33am
Quoting emmanuel7788
{quote} as usual very little will happen after the European markets are closed and NY afternoon session is 'boring'. TMSr does not have Bollinger Band BB in the method but you have BB(20,2) on your chart, right? today your 'ass got kicked' because the volatility is narrow range as the BB shows. If you want ot use the BB set it to (20,1) instead and that is one good volatility filter you can consider to use. if you change your BB(20,2) to BB(20,1) and post your chart again, I will explain how I use the BB(20,1) in my trade planning....
I would be interested to hear your thoughts on this if and when you have time.

Thanks in advance.
  • #2,552
  • Aug 8, 2019 4:37am Aug 8, 2019 4:37am
Quoting itsDavid
{quote} By TMMS indi do you mean the dashboard, or have I missed a post with an indicator? If so could you link to the post? ADDED: Do you mean the smTMMS Oscillator?
Yes I meant the smTMMS osci. It's much more easier to the eyes imo.
  • #2,553
  • Aug 8, 2019 4:56am Aug 8, 2019 4:56am
Quoting Marcusv007
{quote} 100% correct, Its a personal preference for me.... I mostly day trade and will let the odd trade go max 3 days. This from a reply Emmanuel shared the other day (Big E - TMS thread) sums it up for me. At the end of the day you will see what works for you as to what level of time you're able to keep an eye on your trades. However I risk 5 % my account per trade. TMSr works solid for me to ensure that hardly lose on a trade because of this method Im right over 94% of the time. So you must work out what works for you. Its only a problem if its...
It is not clear. If you risk 5% of yoir account it means that the 12-15 pips SL will be these 5% of your account.

When Big E. said that he risked 15-30% of the account, I guess that 12-15 pips WERE NOT the 15%-30% of his account. Maybe the 12-15 pips SL were 5% or probably 2% max of his account.
  • #2,554
  • Aug 8, 2019 4:56am Aug 8, 2019 4:56am
Quoting Marcusv007
{quote} 100% correct, Its a personal preference for me.... I mostly day trade and will let the odd trade go max 3 days. This from a reply Emmanuel shared the other day (Big E - TMS thread) sums it up for me. At the end of the day you will see what works for you as to what level of time you're able to keep an eye on your trades. However I risk 5 % my account per trade. TMSr works solid for me to ensure that hardly lose on a trade because of this method Im right over 94% of the time. So you must work out what works for you. Its only a problem if its...
Thank you, its really eye opening. Do you manage your trails manually or using an EA?
Detach yourself from the value of money - Mr. Pip
  • #2,555
  • Edited 5:19am Aug 8, 2019 5:07am | Edited 5:19am
Quoting Supreme1394
{quote} But why? The candle didn't close lower, aren't we supposed to protect our trade by means of 2 candle trail stop? Moving your trade to BE within the same candle itself will cause you to get kicked out of many winning trades, no room for small retracements.
Its the price I pay. I would rather go out a breakeven than take a 1R loss. I seem to be getting more winners than breakevens so I am happy with that.
We can always get back in on the pullbacks.
I believe the Cavemanager EA does a breakeven SL as well as the FPA trailing stop/breakeven EA that I am using
  • #2,556
  • Aug 8, 2019 6:06am Aug 8, 2019 6:06am
brother i want to thank u for the knowledge and pray that almighty God will continue to bless u...great work
  • #2,557
  • Aug 8, 2019 7:03am Aug 8, 2019 7:03am
Can someone recommend a good EA to use to help manage the stop loss/take profit points with this strategy? Something along the lines of:

Locks in around 5 pips profit once the trade has earned 40 pips.
Trails pip for pip from there.

Alternatively (and possibly ideally), something that automatically trails the same number of pips the initial stop loss is set at, and then automatically changes to trailing at a preset amount of pips from there. For example we set our stop loss at the bottom of the next candle back, which is (in this example) 75 pips. Then as soon as we hit breakeven the EA changes the trailing amount to (again, for example) 40 pips.
  • #2,558
  • Aug 8, 2019 7:05am Aug 8, 2019 7:05am
Quoting itsDavid
Can someone recommend a good EA to use to help manage the stop loss/take profit points with this strategy? Something along the lines of: Locks in around 5 pips profit once the trade has earned 40 pips. Trails pip for pip from there.
Take yer pick. I am using FPA trailing at the moment.
Attached File(s)
File Type: zip Experts.zip   114 KB | 373 downloads
  • #2,559
  • Aug 8, 2019 7:11am Aug 8, 2019 7:11am
Quoting 40PipsAlan
{quote} Take yer pick. I am using FPA trailing at the moment. {file}
Thanks, I'll look at that one now. I've taken a look at quite a few. None of them seem exactly right for what I'm looking for but I'm certain it's out there. It's not like my idea is new!
  • #2,560
  • Aug 8, 2019 8:03am Aug 8, 2019 8:03am
GU H4 continuation trade

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 138 KB
Detach yourself from the value of money - Mr. Pip
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