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Trading Made Simple(r)

  • #3,101
  • Aug 16, 2019 3:16pm Aug 16, 2019 3:16pm
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.

Emmanuel, thank you for your consistent outpouring here on FF. You tirelessly seek to uplift others in their trading. Here's my personal look at EU and where I have my orders placed. Personally, I hate trading this ranging pair and usually avoid it so I go in with multiple small lots and peel off profits as it goes... most of the time I just avoid it though.
Attached Image (click to enlarge)
Click to Enlarge Name: EU H4.PNG Size: 184 KB
  • #3,102
  • Aug 16, 2019 3:58pm Aug 16, 2019 3:58pm
Quoting RobinHood
{quote} 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).
Nothing wrong with your comment; old habits die hard.

Have a good weekend.

Cheers.
  • #3,103
  • Aug 16, 2019 6:11pm Aug 16, 2019 6:11pm
Quoting DrDave
{quote} The EU m30 tiny rally looks over and the return kicking in. Did you get in?
Sure I did and closed 1 candle earlier on H4. Will re-enter as price should continue down...
  • #3,104
  • Aug 16, 2019 6:14pm Aug 16, 2019 6:14pm
Quoting Marcusv007
{quote} Hi Rav, Thats a neat bar you've got there above the TMMS Oscilator, please may you share it here, Id like to have a look at it. Thanks!
it’s not as good as it looks like... repaints badly and it doesn't look like this with standard settings. I will be dumping it soon just checking something....
  • #3,105
  • Edited 7:24pm Aug 16, 2019 6:43pm | Edited 7:24pm
Quoting RobinHood
{quote} Yeah, don't believe your lying eyes. You should go start your own thread and teach us all how to make 10 pips a day. ====== OH, and from Post # 1... And Lastly... If you are blatantly rude, obnoxious, insulting, or try to dissuade others in the thread with false information, you will be placed on IGNORE without warning (which means that you will no longer ever be able to post in the thread). No one wants those disruptions. We are here to help each other by teaching, learning, or both and so we need a nice, cordial environment that EVERYONE...
RH,

Think you fired shoots at the wrong Man. He’s been talking about others requesting proof or something... As far as I know, DrDave didn’t question your methods and been defending it actually... or am I wrong...??? Did you “ignored” him? Think he didn’t deserve it.... but it’s your thread and your call anyway...

Anyway I’m loving it.... (methodology)

Keep the good work RH
  • #3,106
  • Aug 16, 2019 7:34pm Aug 16, 2019 7:34pm
Does anyone testing New version "smTMMS Oscillator_v5.0" ??? Any comments welcome...
sorry for all this posts but working night shift and got some spare time now to catch up with everything here...
  • #3,107
  • Aug 16, 2019 7:42pm Aug 16, 2019 7:42pm
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?
totally right... thx for your words, i have been thinking about that for 3 weeks, but didnt take action as thinking too little sample size.. i have been fishing using only 1 fishing line even though there are 2 available... and at the moment i experienced more fails than not... the most recent friday trade, if i were to split my R, i would get -0.5R(AC) and +1(GF) -> +0.5R... but since only 1 fishing line is used, i get -1(AC)... lol... '3x' the difference..
  • #3,108
  • Aug 17, 2019 12:27am Aug 17, 2019 12:27am
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...
well done, forexdg
this are all valid questions and the answers to them must be part of any setup routine.
  • #3,109
  • Aug 17, 2019 1:29am Aug 17, 2019 1:29am
Quoting RaV1307
Does anyone testing New version "smTMMS Oscillator_v5.0" ??? Any comments welcome... sorry for all this posts but working night shift and got some spare time now to catch up with everything here...
Yah looking at it now. I like the levels idea
  • #3,110
  • Aug 17, 2019 5:01am Aug 17, 2019 5:01am
Hi, I don't understand what moRTal means to posts
2951 and 3072
n hull
LL (+)
LC (- / +)
HH (+)
HC (+)
I searched with Google I found little on this topic.
Where can I find documentation to understand how to use ADR indicator that uses moRTal?
Thank you, I really appreciate your support.
Good weekend everyone.
Carpe diem, quam minimum credula postero. "Orazio"
  • #3,111
  • Edited 9:43am Aug 17, 2019 7:33am | Edited 9:43am
Quoting Ubi.Major
Hi, I don't understand what moRTal means to posts 2951 and 3072 n hull LL (+) LC (- / +) HH (+) HC (+) I searched with Google I found little on this topic. Where can I find documentation to understand how to use ADR indicator that uses moRTal? Thank you, I really appreciate your support. Good weekend everyone.
Hi,
hull is hull moving average (hull ma)
LL is lower low
LC is lower close
HH is higher high
HC is higher close

Frankly, i'm relatively new to the use of HA and APB, for the previous posts, i compare the close of the HA and APB as i don't see the candlestick close in the MT5 chart (if i were to put bar chart over the APB and HA, it becomes difficult to see and messy; unlike in MT4, where the candlestick bar does not show itself, just the closes for the bar chart, it is very neat)... starting for next week, i will be comparing with HA, APB and candlestick closes, also whether this closes above hull ma and 5ema shift+2... why? i think Emm mentioned before in the posts and when i go through the week that has passed, it helps me better exclude currency pairs... and thats what i very much hope though.. post 2354, post 2538, post 2673, post 3100 and post 3099

********Oh by the way, when starting anew in this thread, actually it is much better to just follow the 7 criteria first strictly for continuation trades. We should not make the entering trades more complicated.. Only after we get comfortable and want to fine tune as well as learning more, then we can add a little at a time... If not, information overload is bad... just follow RH advice post3104, post76, post703, Emm post2517, post2176.**********

ADR is average daily range, D1 bar-> High-Low=Range, then 20ADR is the average of range for the recent 20 days.. frankly, i have not seen any documentation about that.. i used to trade lower time frame, usually i stop trading a particular pair if the ADR is more or less reached. Now, it is used as an approximation how large a H4 bar is... Even now, i'm unsure how large is large, how small is small, anyway if i see H4 bar which 80% of 20ADR, i tend to be more cautious whether to enter trade for that particular currency pair.. RH mentioned about SL for long candle in post 3090.

Also, Emm mentioned he used SL(Stop Loss)=3x100ADR and TP(Take Profit)=5X100ADR for W1 trades based on TMSr 7 criterias.. The indicator attached is downloaded in FF to calculate 100ADR, i have forgotten which thread. post 2268 and post 2183

If you need the ADR (screenshots i posted here)-> tuxTrader posted an improved version in post 2849. I'm still using the old version from pivot trading thread post 1 (for MT4). For MT5 get it from 'MT5 Indicators and EAs' thread post 1

edit: my brain is so dead...lol.. here i found an indicator to calculate size of any TF candles (for H4 use period 240) and average it, though i don't know what number to use, maybe 6 H4 candles/day x 20days =120, or maybe 60, i'm lost.. lol... anyway here it is in 'MT4 Average Candle size of X candles' thread post 9.
Attached File(s)
File Type: ex4 DWMRanges_wAlerts.ex4   22 KB | 286 downloads
  • #3,112
  • Aug 17, 2019 11:28am Aug 17, 2019 11:28am
Quoting moRTaL
{quote} Hi, hull is hull moving average (hull ma) LL is lower low LC is lower close HH is higher high HC is higher close Frankly, i'm relatively new to the use of HA and APB, for the previous posts, i compare the close of the HA and APB as i don't see the candlestick close in the MT5 chart (if i were to put bar chart over the APB and HA, it becomes difficult to see and messy; unlike in MT4, where the candlestick bar does not show itself, just the closes for the bar chart, it is very neat)... starting for next week, i will be comparing with HA, APB...
Frankly, i'm relatively new to the use of HA and APB, for the previous posts, i compare the close of the HA and APB as i don't see the candlestick close in the MT5 chart (if i were to put bar chart over the APB and HA, it becomes difficult to see and messy; unlike in MT4, where the candlestick bar does not show itself, just the closes for the bar chart, it is very neat)... starting for next week, i will be comparing with HA, APB and candlestick closes, also whether this closes above hull ma and 5ema shift+2... why? i think Emm mentioned before in the posts and when i go through the week that has passed, it helps me better exclude currency pairs... and thats what i very much hope though.. post 2354, post 2538, post 2673, post 3100 and post 3099

Ok. For this topic I understood it, I had already read the posts you listed, to better remember I reread it.

********Oh by the way, when starting anew in this thread, actually it is much better to just follow the 7 criteria first strictly for continuation trades. We should not make the entering trades more complicated.. Only after we get comfortable and want to fine tune as well as learning more, then we can add a little at a time... If not, information overload is bad... just follow RH advice post3104, post76, post703, Emm post2517, post2176.**********

Yes, I knew that for beginners like me it is better to follow the continuation.

ADR is average daily range, D1 bar-> High-Low=Range, then 20ADR is the average of range for the recent 20 days.. frankly, i have not seen any documentation about that.. i used to trade lower time frame, usually i stop trading a particular pair if the ADR is more or less reached. Now, it is used as an approximation how large a H4 bar is... Even now, i'm unsure how large is large, how small is small, anyway if i see H4 bar which 80% of 20ADR, i tend to be more cautious whether to enter trade for that particular currency pair.. RH mentioned about SL for long candle in post 3090.

Thanks for the explanation of ADR, in fact I had read that RH advised to put the SL previous candle if it is large, or if the candle is small fits SL 2 candles before.
I understand when he says how we know how big a candle is? Unfortunately I can't follow your reasoning (H4 bar which 80% of 20ADR)

Also, Emm mentioned he used SL(Stop Loss)=3x100ADR and TP(Take Profit)=5X100ADR for W1 trades based on TMSr 7 criterias.. The indicator attached is downloaded in FF to calculate 100ADR, i have forgotten which thread. post 2268 and post 2183

Remember that Emm uses ADR to calculate SL and TF is OK, thanks for reminding me.

If you need the ADR (screenshots i posted here)-> tuxTrader posted an improved version in post 2849. I'm still using the old version from pivot trading thread post 1 (for MT4). For MT5 get it from 'MT5 Indicators and EAs' thread post 1

I had already downloaded this indicator (ADR_v2 (1) .ex4 (I work with MT4 for now)) but I did not understand the values it plotted on the graph.
Therefore, if the ADR value is greater than 90, no assets are taken into consideration. Did I get it right? Can you explain this to me better?

edit: my brain is so dead...lol.. here i found an indicator to calculate size of any TF candles (for H4 use period 240) and average it, though i don't know what number to use, maybe 6 H4 candles/day x 20days =120, or maybe 60, i'm lost.. lol... anyway here it is in 'MT4 Average Candle size of X candles' thread post 9.

It is not true that your brain is dead, on the contrary you are very kind to write all this and to make things understood.
These indicators "DWMRanges_wAlerts.ex4" and "Average Candle.ex4" do not understand how they work.
Anyway, thanks for all your explanations for the time you spent.
Carpe diem, quam minimum credula postero. "Orazio"
  • #3,113
  • Aug 17, 2019 1:15pm Aug 17, 2019 1:15pm
I hope you guys are doing your homework and deciding on your trading plans for the coming week. We ARE gonna win this thing.
  • #3,114
  • Aug 17, 2019 1:31pm Aug 17, 2019 1:31pm
Quoting emmanuel7788
{quote} Ideal CONTINUATION setup when both D1 and W1 are in the same direction. {image} {image} {image}
hi Emm
you said w1 and d1 in same direction
d1 is up no doubt about it
why you said w1 is also up?
1 because previos ha candle from week that closed is blue and bar closed with hh and hc? (blue one after red one)
2 because current weekly candle that is still open is blue at the moment you posted live chart?
3 because candles are above yellow and hma is blue
4 because all 3 statement above
  • #3,115
  • Aug 17, 2019 1:44pm Aug 17, 2019 1:44pm
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.
why lot size is diferent? 3 lots in first trade and other two trades with 1 lot?
  • #3,116
  • Aug 17, 2019 4:29pm Aug 17, 2019 4:29pm
Quoting 40PipsAlan
I hope you guys are doing your homework and deciding on your trading plans for the coming week. We ARE gonna win this thing.
Hi Alan,
Personally I am doing my homework, I study every day reading and re-reading your posts, as you know my English is not perfect and therefore every time I read again I always understand something more.
This is why I will never stop saying Thanks to all of you.
But I can't understand what you mean by "deciding on your trading plans for the coming week"
If you find time, can you explain me?
It would be fabulous to have a screen or something to better understand.
Thank you
Carpe diem, quam minimum credula postero. "Orazio"
  • #3,117
  • Edited Aug 18, 2019 2:38am Aug 17, 2019 6:11pm | Edited Aug 18, 2019 2:38am
Quoting Ubi.Major
I had already downloaded this indicator (ADR_v2 (1) .ex4 (I work with MT4 for now)) but I did not understand the values it plotted on the graph. Therefore, if the ADR value is greater than 90, no assets are taken into consideration. Did I get it right? Can you explain this to me better?
Ok, i'll try to explain, i follow strictly RH initial 7 criterias to enter a trade or not... very simple definition, definitely not a number/percentage stated by ADR..

But sometimes a big candle appear.... we definitely have to avoid entering... but when? can it be more objective instead of subjective?
And worse for me this is a personal problem as it makes me doubt to enter straight or wait for a retrace. If it is a demo, i'll just enter the trade, but for real account, this creates a fear of being wrong or fear of missing out for me.. i want to get rid of these fears so i must have a plan that i can accept as emm stated in post 3068 (the video even makes this reasoning very logical in all our decision steps)..

and at the moment the tool is ADR to decide to enter or wait for a retrace (because my brain 'freezes', why couldn't i have search in FF for 'MT4 Average Candle size of X candles' since 3 weeks ago... it can be used to compare the size of the present H4 bar with the size of the average past of how many bars of H4, you have to decide.. i dont know the magic number)... Since before discovering that 'MT4 Average Candle size of X candles', i use 20ADR as a gauge. Why i trust this ADR so much? I really have no choice but work with what i've got, furthermore, i can say with confidence that in TF M15, in which the candle with sizes >=25%20ADR, more often than not, it will retrace first. So the number for 20ADR (the last column), not the ADR in percentage (first colomn), used as an unproven personal gauge where i compare the size of the H4 candle that gives me the TMSr signal with the average D1 bar size of the past 20 days to know that the H4 bar is 'large'enough.. this way i can trade with a plan, not with subjective feeling..

how large is large? someone may say just look to the left, yes, if it is >=100% of 20ADR for a H4 candle, it is for sure easily seen as large.. but i was thinking how about 50% 20ADR (for me this is big, for others may not be, as i was thinking 6 H4 candles per day, even if 3 H4 of good price movement during London till the first 4 hours of NY opens, the H4 candle with 33.3% size of the past 20 days ADR more likely than not still is an acceptable size... but what is the upper limit? Is it 50 or 75%? but i know 50% is acceptable for me to enter a trade without fear now.. Over time as we see H4 TF, we will know a better magic number..

Quoting Ubi.Major
{quote} These indicators "DWMRanges_wAlerts.ex4" and "Average Candle.ex4" do not understand how they work.
Oh i think they work the same way as the ADR_v2(1).ex4... ADR calculates the average daily range for the past 1/5/10/20 days.. I don't know how the % in the first column is derived, but more or less i get the idea of the range 0-100%, and extremes are more often than not, a bad thing.. but i do not use this in TMSr entry as explained above.

DWMRanges_wAlerts.ex4, you have to input the parameters as the screenshot below to get the 100ADR, so it helps me to give the value for the SL and TP for demo trades W1 TMSr entry as EMm posts... I do not use the lines produced by that indicator... It is there because it can not be turned off, even when the colour is set to "None", the lines are still there.. if the mq files is shared, i definitely delete those lines.... lol.. i would like to know the average weekly range for the past 52 weeks... just for fun.. as well as average monthly range for the past 12 months... why? i can not turn them off... so it is better to show a number that i like.. haha

Edit: you can make the colour None at the Inputs tab... not the Colour tab... lol... hahahahahaha

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 116 KB


Average Candle.ex4 same principle as the above but applied to H4 candles... i do not know the magic number for the candles to average, so i put 120 initially, the result is so low... so weird... then i change to 60.. again the number is not acceptable for me.. but i will leave it there just to see whether it is useful.. At the moment, i am still more comfortable using the comparison of the size of 20ADR with the H4 candle that gives me the TMSr signal as gauge, at least i can write it down, collect the data as time passes...

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot2.png Size: 112 KB


If you set the parameter as 1 for H4 bar, we can automatically get the previous H4 bar size... so much convenience not to mentally calculate... lol.. other settings there for data collection only..
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot3.png Size: 97 KB
  • #3,118
  • Aug 17, 2019 11:23pm Aug 17, 2019 11:23pm
Quoting 40PipsAlan
I hope you guys are doing your homework and deciding on your trading plans for the coming week. We ARE gonna win this thing.
imho, for W1, using SL=3x100ADR and TP=5x100ADR, multiple entries, after looking at W1 n D1 charts, just demo though, i like AN up, GN up, UC up, EJ down, USDSGD up.. i couldnt decide between EC/EA/EN, i think i'll skip this group... what about you? i hope Emm has some free time and share some thoughts..
  • #3,119
  • Aug 18, 2019 3:08am Aug 18, 2019 3:08am
Quoting moRTaL
{quote} imho, for W1, using SL=3x100ADR and TP=5x100ADR, multiple entries, after looking at W1 n D1 charts, just demo though, i like AN up, GN up, UC up, EJ down, USDSGD up.. i couldnt decide between EC/EA/EN, i think i'll skip this group... what about you? i hope Emm has some free time and share some thoughts..
Hi Mortal. I am still deciding and was hoping for some weekly insight from the pro traders using this system. I know we should just go with what the indicators are telling us but I believe a bit of weekly Tech analysis wont go amiss followed by some daily candle close analysis. If I can pick the pairs that are trending then surely my chances of winning improve. I am also considering starting a journal for my trades with reasons for pushing the button along with maybe a tickbox type of thing for all of the indicators in the right place. Then a post trade evaluation to see why a trade bust or went good. Its all to get me in a trading routine and hopefully lead to my trades improving. Trade well
  • #3,120
  • Aug 18, 2019 3:35am Aug 18, 2019 3:35am
Quoting moRTaL
{quote} imho, for W1, using SL=3x100ADR and TP=5x100ADR, multiple entries, after looking at W1 n D1 charts, just demo though, i like AN up, GN up, UC up, EJ down, USDSGD up.. i couldnt decide between EC/EA/EN, i think i'll skip this group... what about you? i hope Emm has some free time and share some thoughts..
Agree with AN, GN, U/cad, and EJ
Maybe EU, AU,NU, NJ N/Cad, E/Chf going down
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