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Trading Made Simple(r)

  • #3,081
  • Aug 16, 2019 9:11am Aug 16, 2019 9:11am
Quoting 40PipsAlan
{quote} I think DrDave might have been eluding to Vortexz comments from post 3021
That's definitely not the case:

Here's why... 40PipsAlan said in reference to MY POST:

Quoting 40PipsAlan

Wow. Is that not proof the system works.


DrDave responded with:

Not for some people. They need at least 6 months of live trade results. Otherwise, it can't be anything other than luck and/or smoke and mirrors.
Always a Student, Never a Master - Emulate What Works
  • #3,082
  • Aug 16, 2019 9:14am Aug 16, 2019 9:14am
Quoting RobinHood
{quote} It's up to your own personal preference. I do it both ways, BUT ONLY IN THE DIRECTION OF THE TREND (using most or all of the 7 indicators we use). I like trading baskets of pairs because it USUALLY helps to assure that you catch some big fish, but it also can entail many small losers. Think of it like this... Which way are you most likely better off when fishing? Having 1-2 fishing lines in the water? OR Having 10-20 fishing lines in the water?
Clear up to a certain point, because from what i understood the new indicators already comprehend the prior 7 indicators in the first post, consequently if the conditions are met i just enter.

It might be much clearer for me, if you post some trades of yours when you take them, putting some notes on the screen with the reasoning used.

many thanks
  • #3,083
  • Edited 11:08am Aug 16, 2019 9:21am | Edited 11:08am
Quoting luca5594
{quote} Clear up to a certain point, because from what i understood the new indicators already comprehend the prior 7 indicators in the first post, consequently if the conditions are met i just enter. It might be much clearer for me, if you post some trades of yours when you take them, putting some notes on the screen with the reasoning used. many thanks
That should not be necessary. Post #1 tells you methods on HOW and WHEN to enter. That's all I am using for entries. For exits, I am using 1-2 bars back.

Why 1 OR 2 bars back?

Because if the current bar is very LONG, I use that. If the current bar is very SHORT, I use 2 bars back. If it's neither, I just choose between 1 or 2 bars back.

In essence, I am just trying to place a stop that gives price some room to move around, but not TOO MUCH.
Always a Student, Never a Master - Emulate What Works
  • #3,084
  • Aug 16, 2019 10:43am Aug 16, 2019 10:43am
Quoting forexdg
{quote} thank you I will use two candles for stoploss I didnt knew we have to check indicators in d1 before to take entryon h4 {quote} thank you thatswhy I post all trades, I dont want to post just winning unfortunately I didnt had no win trades but maybe from now I will have {quote} thank you avoidance of sideways trends is hard part many times for me because its hard to identify, because we all see market in different way thank you for the trend indicator {quote} thank you I confess I didnt looked at corelation but maybe robinhood and emmanuel...
No, you does not need to check indicators on d1, but it may improve your trading if you follow the daily trend and the indicators on daily window will help you with that.
  • #3,085
  • Aug 16, 2019 11:51am Aug 16, 2019 11:51am
Quoting 40PipsAlan
{quote} Hi Emm, A picture says a thousand words. I am still examining your EUR/USD trades and can see that you spotted the consolidation very well. Its probably where we are going wrong. We are being mechanical and taking all signals whereas the proper traders seem to have an instinct to pass the trade. I also like the RSI with arrows if you can post it please. Plus a couple more pics would be nice. Keep up the good work.
good traders think any one detect trends and range zones with easy, but its hard even after many years of tradding and I get whip saw often
maybe this is what we need help most
  • #3,086
  • Aug 16, 2019 12:08pm Aug 16, 2019 12:08pm
Quoting emmanuel7788
{quote} Hi forexdg It is too easy for me to comment using hindsight analysis. First of all, this is a 100% rules based mechanical trading method based on 7 indicators. When all the technical conditions (Post#1) are fulfilled there is a trade setup condition. If we take every trade setup, we will end up with many wins and many losses. Only after a long cycle of thousands of trades then we will learn many things from all the wins and losses. Every trade is unique on its own, hence every trade with its outcome is a lesson for us as the trader. This...
Question for you:
Is taking every tradesetup one of your written rule?
If NO, then what is your discretionary decision totake a trade or not to take a trade?
Just now I read robinhood post where he say he trade only with trend
that mean this can be my discretionary decision
but how you know when start of trend happen? this is the milion dollar question
if I know now its the start of trend, I begin look for signal by use this mechanical method
but many tiems I believe trend started and it turns out its jsut range
many times I use moving averages to see trend and also many times I lost because moving averages is lagging
then may timesI use lowerlows and higherhighs but I still lose because price goes to stop loss first or because afer I enter trend ends
Is trading every 4 hours in your business plan?
If NO, then define your business hours i.e. your trading hours.
I consider d1 because its less stress and it dont interfere with my workplace time
I change next week from h4 to d1
Is trading all currency pairs in your trading business plan?
If NO, then you need to know which currency pairs include in your business plan.
eur usd and gbp pairs now
  • #3,087
  • Aug 16, 2019 12:15pm Aug 16, 2019 12:15pm
Quoting 40PipsAlan
{quote} Hi Emm, A picture says a thousand words. I am still examining your EUR/USD trades and can see that you spotted the consolidation very well. Its probably where we are going wrong. We are being mechanical and taking all signals whereas the proper traders seem to have an instinct to pass the trade. I also like the RSI with arrows if you can post it please. Plus a couple more pics would be nice. Keep up the good work.
Hi Alan

That has nothing to do with spotting consolidation.
The 2 Stochastics and RSI produce many signals crossing the 50-levels. I have my own simple rule which signals to trade and which signals I'll wait...
in this case, after that 1st trade closed, I chose to wait for the next better signal ... what is the better signal?

Now I locked in 1.5R and see what happens till NY closing today.

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD Aug 16 H4 trade update 0107 17-08-2019 01-06-46.png Size: 58 KB


My MT5 RSI shows arrows when it crosses its 50-level. Will post it next week.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #3,088
  • Aug 16, 2019 12:17pm Aug 16, 2019 12:17pm
Quoting emmanuel7788
{quote} Hi forexdg It is too easy for me to comment using hindsight analysis. First of all, this is a 100% rules based mechanical trading method based on 7 indicators. When all the technical conditions (Post#1) are fulfilled there is a trade setup condition. If we take every trade setup, we will end up with many wins and many losses. Only after a long cycle of thousands of trades then we will learn many things from all the wins and losses. Every trade is unique on its own, hence every trade with its outcome is a lesson for us as the trader. This...
I study this chart and Ichecked d1 and notice you ignore what d1 said because it didnt said same thing like h4
this mean this trades on this h4 chart you used only one time frame although I saw other posts of you where you said to use multiple time frames
Idont understand entry 2 because you sold with out red ha bar
today I read again robinhood post1 and noticed I didnt apply exit rules correct for my lost trades and I will be more careful next week
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD MT5 H4 trades update Aug 16 16-08-2019 05-24-37.png Size: 93 KB
  • #3,089
  • Aug 16, 2019 12:19pm Aug 16, 2019 12:19pm
Quoting emmanuel7788
{quote} Hi Alan That has nothing to do with spotting consolidation. The 2 Stochastics and RSI produce many signals crossing the 50-levels. I have my own simple rule which signals to trade and which signals I'll wait... in this case, after that 1st trade closed, I chose to wait for the next better signal ... what is the better signal? Now I locked in 1.5R and see what happens till NY closing today. {image} My MT5 RSI shows arrows when it crosses its 50-level. Will post it next week.
we can know this simple rule to help us?
  • #3,090
  • Aug 16, 2019 12:27pm Aug 16, 2019 12:27pm
Quoting forexdg
{quote} I study this chart and Ichecked d1 and notice you ignore what d1 said because it didnt said same thing like h4 this mean this trades on this h4 chart you used only one time frame although I saw other posts of you where you said to use multiple time frames Idont understand entry 2 because you sold with out red ha bar today I read again robinhood post1 and noticed I didnt apply exit rules correct for my lost trades and I will be more careful next week {image}

there is no entry 2 sell at red ha.

1st trade entry is 3lots ...

that is 1st trade last lot exit no 3 when ha colour changed... price pulled back.

after exit no 3... I don't take the first cross, why?

hint: it is MT5 and has more timeframe options... H6 and H8... therefore it has nothing to do with D1.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #3,091
  • Aug 16, 2019 1:15pm Aug 16, 2019 1:15pm
Quoting emmanuel7788
{quote} there is no entry 2 sell at red ha. 1st trade entry is 3lots ... that is 1st trade last lot exit no 3 when ha colour changed... price pulled back. after exit no 3... I don't take the first cross, why? hint: it is MT5 and has more timeframe options... H6 and H8... therefore it has nothing to do with D1.
I dont have mt5 and I looked in internet how to create h8 in mt4 and solved your hint
its inside bar and you got out because this patern its sign of range
this is the the correct answer?
  • #3,092
  • Aug 16, 2019 1:20pm Aug 16, 2019 1:20pm
Quoting forexdg
{quote} I dont have mt5 and I looked in internet how to create h8 in mt4 and solved your hint its inside bar and you got out because this patern its sign of range this is the the correct answer?

no, in this TMSr thread I don't talk about inside bar and other price bar patterns stuff.

I look at the price OHLC, the APB and HA candles and the HMA and 5EMA,Close,Shift+2.
And when I mention price action, I only refer to these 5 components above.
I am not saying trade price action as in trading naked charts without any indicators on the charts.

no need to create new chart timeframes in MT4.

if you trade only MT4 then all your trade decisions are based on the available chart.

I have both MT4 and MT5 accounts ... migration to fully MT5 by end 2020.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #3,093
  • Aug 16, 2019 1:32pm Aug 16, 2019 1:32pm
Quoting forexdg
{quote} Question for you: Is taking every tradesetup one of your written rule? If NO, then what is your discretionary decision totake a trade or not to take a trade? Just now I read robinhood post where he say he trade only with trend that mean this can be my discretionary decision but how you know when start of trend happen? this is the milion dollar question if I know now its the start of trend, I begin look for signal by use this mechanical method but many tiems I believe trend started and it turns out its jsut range many times I use moving averages...

nobody knows when the trend starts.

therefore as RH suggested, it is better to trade the CONTINUATION setups ... when there is an established trend in that timeframe.

we don't need any use of moving averages to see a trend.
we have the 5EMA,Close,Shift+2 and the HMA ... these is our 'yellow brick road' like the PAC in the old Synergy system which the original TMS evolved from.
look at the price action of the APB and HA candles following our 5EMA and HMA.

I keep my chart clean use template#1.... and master trading with this template#1.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #3,094
  • Edited 3:37pm Aug 16, 2019 1:38pm | Edited 3:37pm
EURGBP

Thoughts on this for a possible continuation Trade next week (I missed the entry)?.
Potential Crossover trade on D1 also.....at Market Open.
Seems to me there is quite a bit of real estate below, but the BoJo Factor is playing on my mind.
What do you think?.
Attached Image (click to enlarge)
Click to Enlarge Name: EG H4.png Size: 219 KB

Trade well.
  • #3,095
  • Aug 16, 2019 1:50pm Aug 16, 2019 1:50pm
Quoting krismitt
EURGBP Thoughts on this for a possible continuation Trade next week (I missed the entry)?. Potential Crossover trade on D1 also.....at Market Open. Seems to me there is quite a bit of real estate below, but the BoJo Factor of playing on my mind. What do you think?. {image} Trade well.
Yah. If the signal says yes then do it
  • #3,096
  • Aug 16, 2019 1:54pm Aug 16, 2019 1:54pm
Quoting emmanuel7788
{quote} nobody knows when the trend starts. therefore as RH suggested, it is better to trade the CONTINUATION setups ... when there is an established trend in that timeframe. we don't need any use of moving averages to see a trend. we have the 5EMA,Close,Shift+2 and the HMA ... these is our 'yellow brick road' like the PAC in the old Synergy system which the original TMS evolved from. look at the price action of the APB and HA candles following our 5EMA and HMA. I keep my chart clean use template#1.... and master trading with this template#1.
Yeah revisiting template 1 myself, I had better results then but probably the poor results this week due to all the ranging.
  • #3,097
  • Aug 16, 2019 1:55pm Aug 16, 2019 1:55pm
Quoting krismitt
EURGBP Thoughts on this for a possible continuation Trade next week (I missed the entry)?. Potential Crossover trade on D1 also.....at Market Open. Seems to me there is quite a bit of real estate below, but the BoJo Factor of playing on my mind. What do you think?. {image} Trade well.
Don't take this the wrong way.

It's honestly a complete waste of your time to speculate about what may or may not happen on a chart.

Just wait for the indicators to give you a signal, and then AFTER it has fully developed into a legitimate trading signal, just take the trade and enter your stop (and profit target if you are so inclined).
Always a Student, Never a Master - Emulate What Works
  • #3,098
  • Aug 16, 2019 2:52pm Aug 16, 2019 2:52pm
Quoting emmanuel7788
{quote} no, in this TMSr thread I don't talk about inside bar and other price bar patterns stuff. I look at the price OHLC, the APB and HA candles and the HMA and 5EMA,Close,Shift+2. And when I mention price action, I only refer to these 5 components above. I am not saying trade price action as in trading naked charts without any indicators on the charts. no need to create new chart timeframes in MT4. if you trade only MT4 then all your trade decisions are based on the available chart. I have both MT4 and MT5 accounts ... migration to fully MT5...
only thing I see is ha bar close between hma and 5ema
this is why you closed
  • #3,099
  • Aug 16, 2019 2:56pm Aug 16, 2019 2:56pm
Quoting forexdg
{quote} only thing I see is ha bar close between hma and 5ema this is why you closed
Thats the answer.
  • #3,100
  • Aug 16, 2019 2:57pm Aug 16, 2019 2:57pm
Quoting emmanuel7788
{quote} nobody knows when the trend starts. therefore as RH suggested, it is better to trade the CONTINUATION setups ... when there is an established trend in that timeframe. we don't need any use of moving averages to see a trend. we have the 5EMA,Close,Shift+2 and the HMA ... these is our 'yellow brick road' like the PAC in the old Synergy system which the original TMS evolved from. look at the price action of the APB and HA candles following our 5EMA and HMA. I keep my chart clean use template#1.... and master trading with this template#1.
i take your sugestion and use original template and take only continuation trades
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