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Trading Made Simple(r)

oh man bad trading week. I think i over traded. I gotta be more diciplined in deciding what trades i should take and more patient on waiting for my entries. Losing is beating me down...
I've just finished to read all the thread and I decided to create this account so I could thank you for all the inputs, specially to RobinHood for providing this method!
Quoting DrDave
{quote} LOL. That, as you are well aware, is the exception. I think you will agree that we are talking about the usual events here.

Awesome, can you tell me opening price of AUDJPY tomorrow? Much appreciated.

Regards,
Bleemus.
Just finished reading all 135 pages of this thread. Very interesting strat. Looking forward to taking it for a test drive. Thanks for sharing Robinhood!
Quoting emmanuel7788
{quote} hello salimc Can be a 'iffy' case. I had earlier looked at Daily and formed a bullish bias ... RECENCY BIAS. But when I look at H4 alone - both the Stochs (8,3,3) and (14,3,3,) went below 50-level and turned back up and the RSI remained above 50-level, so I classify that as CONTINUATION. I considered the Variation(s) mentioned by RH in Post#1. Variation(s): If all indicators imply long, and the Stochastics 8,3,3 (the thin SlateGray Line) retreats below the Purple 50 Line, then it crosses back above the Purple 50 Line and all indicators still...
Hi Emm....I consider this as a Crossover Trade, since the entry is based on the crossing of the Fast Moving Averager (Hull) over the Slow Moving Average (EMA), notwithstanding the fact of the Stochs dipping below 50 and back.

In his Charts posted at Post#1 Robinhood has identified a similar entry as a Crossover Trade as opposed to a Continuation Trade. See Chart below with my Edit.
Attached Image (click to enlarge)
Click to Enlarge Name: Cover.jpg Size: 184 KB


Cheers.
Quoting Bleemus
Just finished reading all 135 pages of this thread. Very interesting strat. Looking forward to taking it for a test drive. Thanks for sharing Robinhood!
Well done Bleemus!.

Now drive carefully and be sure follow the rules of the road

Cheers.
Quoting krismitt
{quote} Hi Emm....I consider this as a Crossover Trade, since the entry is based on the crossing of the Fast Moving Averager (Hull) over the Slow Moving Average (EMA), notwithstanding the fact of the Stochs dipping below 50 and back. In his Charts posted at Post#1 Robinhood has identified a similar entry as a Crossover Trade as opposed to a Continuation Trade. See Chart below with my Edit. {image} Cheers.

Hi Krismitt

it is one of the 'iffy' case and I had a bias formed looking at my Daily chart when I made my trade plan for that day.
so I classify that under category CONTINUATION setup in my trade journal.

that can also be a CROSSOVER setup if we looked only at H4 and the previous established trend has ended and a new trend can emerge after a period of choppy H4.

one way to distinguish the difference of the two under these conditions is use the RSI(14).

bottom line is the R:R potential of the setups.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
Quoting Bleemus
Just finished reading all 135 pages of this thread. Very interesting strat. Looking forward to taking it for a test drive. Thanks for sharing Robinhood!

Good job... you reached your first milestone...

Keep on going and participate in this thread posting charts and be active in discussions... you will learn faster this way.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
Quoting daeddie
oh man bad trading week. I think i over traded. I gotta be more diciplined in deciding what trades i should take and more patient on waiting for my entries. Losing is beating me down...
we all have some poor performing weeks but look to the bright side, a new week to open soon and we have another shot at it.

you know your discipline issues so you can fix them.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
Quoting daeddie
oh man bad trading week. I think i over traded. I gotta be more diciplined in deciding what trades i should take and more patient on waiting for my entries. Losing is beating me down...

I am new here on this thread so take this with advice with caution. I found my results improved after I sat down on weekends and went over each pair I trade looking at weekly and daily trends. If they agreed then they get a green flag to trade in that direction for the following week. If not they got an X meaning I don't trade them. Hope you try this and see if it helps.

Cheers,
Bleemus
Quoting krismitt
{quote} Well done Bleemus!. Now drive carefully and be sure follow the rules of the road Cheers.

Thank you for the warm welcome!

Cheers,
Bleemus
Quoting emmanuel7788
{quote} Good job... you reached your first milestone... Keep on going and participate in this thread posting charts and be active in discussions... you will learn faster this way.

Thank you! I will do my best to contribute and learn from the group knowledge and keep my R smartly managed.

Cheers,
Bleemus.
Quoting MyProfit
Yes, I see a continuation to 0.9318 (a few pips more or less). And after that, a retracement to the 0.9220, then it will continue Up.. Let's see..... By the way Emmanuel, do you have a method or template where you save the probables trades for the new week, I mean a Pdf or Excel where we can annotate or input the next trades? to keep it handy...
I have updated my watchlist with another group below. Just added a few SGD pairs (Group#6) because I moved to a Singapore based MT5 broker this month.

I have my own tools for my trade planning which I keep on my server cloud storage which I can access at anytime form anywhere.
You can start use a simple spreadsheet and have each column for Weekly | Daily | H4

Note: I don't overtrade despite having 25 pairs in my watchlist. I pick one pair setup each time from each group. I trade longer term swings on Daily and Weekly. I and trade each pair with same amount of money allocated per pair, e.g. $10k for each pair up to maximum 5 pairs for a $50k account deposit. Always use risk R per currency trade traded with a cut loss plan in place and avoid running with floating drawdown of more than two weeks in any single pair traded. Do not run trades with floating DD of more than 15%. Once I see floating DD of 10% I prepare to look for exit and cut-losses, usually 10% to 15% I will cut some losses. I leverage on trading multiple pairs using money management strategy.

Group#1
AUDUSD
EURUSD
GBPUSD
USDCAD
NZDUSD

Group#2
EURAUD
EURNZD
EURCAD
EURGBP***

Group#3
GBPAUD
GBPNZD
GBPCAD

Group#4
USDJPY
AUDJPY
EURJPY
GBPJPY
SGDJPY

Group#5
AUDCAD
AUDNZD
NZDCAD

Group#6
AUDSGD
EURSGD
GBPSGD
USDSGD
NZDSGD

From these above groups, I see some good trade opportunities next week. You just start look at all Weekly charts and pick one from each group.

We can compare notes later when NY open a new Weekly candle.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
Quoting emmanuel7788
{quote} Hi Krismitt it is one of the 'iffy' case and I had a bias formed looking at my Daily chart when I made my trade plan for that day. so I classify that under category CONTINUATION setup in my trade journal. that can also be a CROSSOVER setup if we looked only at H4 and the previous established trend has ended and a new trend can emerge after a period of choppy H4. one way to distinguish the difference of the two under these conditions is use the RSI(14).

bottom line is the R:R potential of the setups.


Cheers.
Quoting Viv108
{quote} Hi mate. Thanks for the detailed reply. I've just read the whole thread and I can see this is far better system, than the original TDI - thanks to you and RobinHood also. Are the indicators required for this system here available on MT5?

Are the indicators required for this system here available on MT5?
YES

The beauty of this method is it uses the common indicators available in all trading platforms not restricted to just MT4 and MT5.
The Hull Moving Average HMA is also available most platforms, if not then you can use a substitute for it.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
Quoting Bleemus
{quote} Awesome, can you tell me opening price of AUDJPY tomorrow? Much appreciated. Regards, Bleemus.
On my chart, the HA candle Weekly candle will open well below the EMA5/HMA12 channel. Looking only at the Weekly bars, that will be a nice continuation sell.
On my Daily chart, that will open well within the channel.
The markets are speaking to you. Do you know their language? I M T
Quoting DrDave
{quote} On my chart, the HA candle Weekly candle will open well below the EMA5/HMA12 channel. Looking only at the Weekly bars, that will be a nice continuation sell. On my Daily chart, that will open well within the channel.
But we trade the H4 and if the lower timeframes say SELL then we push the button
Quoting 40PipsAlan
{quote} But we trade the H4 and if the lower timeframes say SELL then we push the button
By the daily moving into the EMA/HMA channel it is showing the first signs of reversal/consolidation so we need to look at the H4 and lower TF to confirm direction. Sounds about right Dave?
Quoting emmanuel7788
{quote} Are the indicators required for this system here available on MT5? YES The beauty of this method is it uses the common indicators available in all trading platforms not restricted to just MT4 and MT5. The Hull Moving Average HMA is also available most platforms, if not then you can use a substitute for it.
Here you have the indicators for MT5 (I am going to change):
Attached File(s)
File Type: mq5 Hull average 2.mq5   13 KB | 135 downloads
Attached File(s)
File Type: mq5 smTMMS Oscillator-MT5_v2.0.mq5   6 KB | 129 downloads
Attached File(s)
File Type: ex5 Stochastic extended.ex5   26 KB | 151 downloads
Attached File(s)
File Type: ex5 Synergy_APB.ex5   11 KB | 146 downloads


I am looking for something similar to the cave manager for MT5.

And It will be lovely to have the Swingmang dashboard.
Quoting 40PipsAlan
{quote} By the daily moving into the EMA/HMA channel it is showing the first signs of reversal/consolidation so we need to look at the H4 and lower TF to confirm direction. Sounds about right Dave?
Yes, at least the way that I would trade it.
Remember, the Daily is lagging the H4. So the Daily stochs turning up is CREATED by the H1 price bars marching up; check the chart yourself. Then what happened? Red bars marching down! But wait, how can that be if Daily shows stochs pointing up? Because the Daily is LAGGING the H4. Plus, it takes 6 H4 candles to make 1 Daily candle, so the nice down bars on H4 are "absorbed" into a single candle on D1.

So IF you are thinking about selling the H4 when the next bar opens if it has a continuation signal, then consult H1 and look at what that H4 down leg looks like. When was the last crossover sell? Have there been any continuation sells? How many? Is there a continuation sell setup if the next H1 bar opens inside the channel?

The information about the "quality" of the potential trade is right there! When the markets are closed, you should spend time going back through charts and working through these kinds of exercises and seeing what happens. Perhaps you will find that FOR YOU, when working down the charts you find a set of conditions that OFTEN results in a trade gone wrong, you will be able in the future to spot this quickly and simply stay out of that one. Sometimes the exact same set of conditions occurs and a great, highly profitable run happens. Hmmm, so your "filter" must be crap, right? NOT AT ALL! You are not going to find a filter that will remove EVERY bad trade while keeping EVERY good trade. But You can find a filter that will move ENOUGH bad trades without removing TOO MANY good trades so that your net profit will be higher than not using the filter.
The markets are speaking to you. Do you know their language? I M T
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