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

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Trading Made Simple(r)

  • #3,161
  • Aug 20, 2019 12:46pm Aug 20, 2019 12:46pm
Quoting 40PipsAlan
GB/NZ up maybe? {image}


The entry looks good on 4H and with the trend on 1D. The indicators on the lower window is on the same side of the 50 line both for 4H and 1D.
The only thing is that your stop loss is small but if that your trading style it's okay.
  • #3,162
  • Aug 20, 2019 1:35pm Aug 20, 2019 1:35pm
Quoting foureggs
{quote} looks like you are ruining into resistance, be careful
Like to mention one more thing, I hope everybody knows already anyway.

MM if you dont have proper MM you are not going to make it

never risk more than 0.5 to 1% as a beginner, because you want to recoup your losses otherwise..!

if you like to double your account in one year, you only need about 60 pips a week with risking 1% and
TP of 2:1 sounds simple but believe me it is not
Trading is probably the most difficult biz you ever can get into,

BTW: its not your strategy what matters its your mindset..80% is in your mind
rest is analyzing and follow your plan, try to make at least 2:1 in each trade

Sorry if I repeat whats perhaps already mentioned in the threat, i did not read it, I just bounced on this threat by accident
and I see tons of traders struggling,
take only the best trades, with the best chance to win, not guesswork look for
S/D and Support/Resistance
never take a trade trading into S/R wait till its broke and than trade the retracement
no matter what the indicator tells you, indicators are not dictators and are lagging and if you dont know how to use them properly
you will make wrong entries..always go with the HT trend

I for myself trade only max 2 pairs, why because off correlation, e.g. EURUSD and USDCHF trade them in opposite dir. if you dont know what it is Google it

cheers
  • #3,163
  • Aug 20, 2019 2:03pm Aug 20, 2019 2:03pm
Quoting SwingMan
New version "smTMMS Oscillator_v3.0" @RobinHood has recommended to us the "HMA_Trend", but I and other members have difficulty installing it. - Now I have integrated it into the "TMMS Oscillator", but one can also turn it off. - Because some members also use the entry signals from my "Hashi-Chart" indicator, I post an updated version - good luck ... {image} {file} {file}
does anyone have the .ex4 file for these? and also for smTMMS Oscillator_v5.0.mq4 ??
  • #3,164
  • Aug 20, 2019 2:09pm Aug 20, 2019 2:09pm
Quoting daeddie
{quote} does anyone have the .ex4 file for these? and also for smTMMS Oscillator_v5.0.mq4 ??
When you place the mq4 files into the indicator folder and restart the terminal, it will make the ex4 files for you.
Success means going from failure to failure without loss of enthusiasm
  • #3,165
  • Aug 20, 2019 3:24pm Aug 20, 2019 3:24pm
Quoting lisat
{quote}When you place the mq4 files into the indicator folder and restart the terminal, it will make the ex4 files for you.
i tried. it doesnt work for me.

well if u have the .ex4 files can u post them please?
  • #3,166
  • Aug 20, 2019 3:37pm Aug 20, 2019 3:37pm
Tough strike for me, 4th loser in a row. In hindsight, I got too much exposure on the Pound, however the entries matched the conditions. But honestly, I had a strong bearish bias on the Pound pairs, which made me take the trades despite the clear congestion to the left.
Again in hindsight, probably not the best place to take a stab, and especially risk 3% overall.
Account now in the red.

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  • #3,167
  • Aug 20, 2019 5:27pm Aug 20, 2019 5:27pm
Quoting Barraka
Tough strike for me, 4th loser in a row. In hindsight, I got too much exposure on the Pound, however the entries matched the conditions. But honestly, I had a strong bearish bias on the Pound pairs, which made me take the trades despite the clear congestion to the left. Again in hindsight, probably not the best place to take a stab, and especially risk 3% overall. Account now in the red. {image} {image} {image} {image}

did you realize that the charts made HH and HL

also you expose yourself to basically the same three pair.. if the first Currency is GPB they usually go the same dir.
so just need one, and trade the one has the best chance.

just a tip..look up correlation currency pair

https://www.babypips.com/learn/forex...y-correlations

Please also keep in mind Indicators are only to use as help, they are always right until the turn against you.
Indicators develop from price, so price goes up so does the indi even he just was showing down..he goes with price not what you want them to do

all the time keep in mine you risk your money
  • #3,168
  • Edited 6:58pm Aug 20, 2019 6:44pm | Edited 6:58pm
Quoting 40PipsAlan
GB/NZ up maybe? {image}
yup, imho, it is in line with W1 up HH- HC+ (at least HC+ present), D1(before you entered that trade) HH+ HC+, but the stoch slope is not ideal as compared to post 3150, this is similar to variation continuation where the stoch8,3,3 goes below50 then goes up again, but takes more candle to go up.. today, D1 HH+, HC+... also, better choice than GU as FOMC in 18h, GJ similar to GA (W1 LL+, trapped within hull ma and ema), GS similar to GC(trapped within hull ma and ema).. but GN is a 137p candle vs 20ADR 187, which is a 73% move in one candle... makes me confused whether to wait for a retrace or not.. lol... oh GN similar to EG too... anyway, imho, in this case, maybe it is best to follow RH to go M5 first or follow DrDave (cycling from the lower TF)..
  • #3,169
  • Aug 20, 2019 6:50pm Aug 20, 2019 6:50pm
Quoting daeddie
{quote} i tried. it doesnt work for me. well if u have the .ex4 files can u post them please?

of course that did not work.

posting a .ex4 files will also not work for you.

1) you need to locate where your MT4 Data Folder in your roaming directories.... thanks to Microsoft for making it complex for security reasons.

if you know this foler location then you can copy and paste the files into the correct folder under mql4/indicator directory.

another way is,

2)start your MT4 editor,
then Open the downloaded smTMMS Oscillator_v3.0.mq4 files and do a Save-As into the correct folder, ...
do a Compile and Save.... next Exit.
Refresh your Navigator and you should see the "smTMMS Oscillator_v3.0" in the list of indicators.
there is no need to re-start your MT4....

this will work 100%.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #3,170
  • Edited 7:47pm Aug 20, 2019 7:31pm | Edited 7:47pm
Quoting Jefflee
Here is some trades, please let me know if any mistakes. {image} 1. Crossover trade {image} 2. Chance to be a continuation trade but need to wait the indicator give "instruction" {image} 3. a potential continuation trade, need to wait the candle change to red and below ema. {image} {image} 4. crossover trade is formed {image} 5. all of these chart for me is quite choppy and i will not open any trade.
Hi, imho, you have to know your trades as per below attached chart... TMS thread post 97160, now apply it to H4, D1 and W1... 'I usually look at next higher time frame to see confirmation of the direction.' as mentioned by RH in post 1959. so since you are trading in H4, confirm it in D1..

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also, in forex, even though we certainly want to earn some money from it every month, but instead of thinking of profit first, think of what you are risking first... follow post 1540.. it is much more difficult to build it up than destroy it, 'they have words saying like 90/90/90 -> 90%of traders lose their 90% money in 90%days... something like that..worse of all is that all kind of fears start happening.. yes it sucks and you do need the money badly... but it is kind of your fault to enter forex world without trying in demo first... so just accept it and move on...
so try to choose your trades per H4 time, post the best one, state your analysis, then someone will disagree or agree, just keep an open mind k... then you try to think and back test and forward test, and the cycle repeats, in order to get better result.. if you were to dump so many charts and ask for others to analyse it.. frankly, i skip it..



Edit: first 20 trades = +1.863R, 2nd 20 trades -4.617R... net -2.754R... stupid mistakes such as doubling position still occurs once due to bias... lol.. this made me appreciate those what the veterans mentioned that the best trades are those in line with D1 and W1.. now i prefer waiting for H4 trades that are in line with D1 and W1..
  • #3,171
  • Aug 20, 2019 7:41pm Aug 20, 2019 7:41pm
Quoting emmanuel7788
{quote} of course that did not work. posting a .ex4 files will also not work for you. 1) you need to locate where your MT4 Data Folder in your roaming directories.... thanks to Microsoft for making it complex for security reasons. if you know this foler location then you can copy and paste the files into the correct folder under mql4/indicator directory. another way is, 2)start your MT4 editor, then Open the downloaded smTMMS Oscillator_v3.0.mq4 files and do a Save-As into the correct folder, ... do a Compile and Save.... next Exit. Refresh your...
To locate the folder mt4 folder you can click on File ->Open data folder in the terminal.
Success means going from failure to failure without loss of enthusiasm
  • #3,172
  • Aug 20, 2019 7:51pm Aug 20, 2019 7:51pm
Quoting lisat
{quote} To locate the folder mt4 folder you can click on File ->Open data folder in the terminal.
I knew that long time ago ... years ago when Windows introduced UAC.

but I run MT4 in portable mode and UAC has not effect on where I place my MT4 folders.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #3,173
  • Aug 20, 2019 8:12pm Aug 20, 2019 8:12pm
Quoting emmanuel7788
{quote} I knew that long time ago ... years ago when Windows introduced UAC. but I run MT4 in portable mode and UAC has not effect on where I place my MT4 folders.
I posted that for daeddie's benefit, of course you know about it.
Success means going from failure to failure without loss of enthusiasm
  • #3,174
  • Aug 20, 2019 8:18pm Aug 20, 2019 8:18pm
Quoting lisat
{quote}I posted that for daeddie's benefit, of course you know about it.

surely you know how to quote that daeddie'Post#3172 when you want to reply to daeddie ... and not my post.

https://www.forexfactory.com/showthr...6#post12453136
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #3,175
  • Aug 21, 2019 12:31am Aug 21, 2019 12:31am
Only losing trades lately ... I can't see a single winning trade on charts
As soon as there is a valid signal, the price goes the other way
  • #3,176
  • Aug 21, 2019 12:51am Aug 21, 2019 12:51am
Quoting vortexz
Only losing trades lately ... I can't see a single winning trade on charts As soon as there is a valid signal, the price goes the other way
how many trades have you done lately?

post all those trades charts and I will see where your entries and exits , then only I will comment.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #3,177
  • Aug 21, 2019 12:58am Aug 21, 2019 12:58am
Quoting vortexz
Only losing trades lately ... I can't see a single winning trade on charts As soon as there is a valid signal, the price goes the other way
I feel sorry for you.
But if you - just to identiify the problem more easily - use SwingMan's setup and take a look at ANY tightly ranging market on ANY timeframe you choose, you will find:

that RH's signal very often comes just before price turns around.

This is clearly a strategy that works with trending markets but doesn't do at all well in tightly ranging ones (probably you know that anyway but for some reason didn't react to it up to now).
Possible solutions to your problem:
a) don't trade during tightly ranging markets
b) use a strategy that is developed to trade ranging markets when you want to trade ranging markets
c) alter the TF you are trading (a range on H4 will often have trend moves on, say, M5)
d) choose the currencies you trade much more carefully - only trade currencies that are trending (but not exhausted just yet)
  • #3,178
  • Aug 21, 2019 1:37am Aug 21, 2019 1:37am
Quoting foureggs
... if the first Currency is GPB they usually go the same dir. so just need one, and trade the one has the best chance. just a tip..look up correlation currency pair https://www.babypips.com/learn/forex...y-correlations ...
It is easier and faster to find out the correlations on using the "smCorrelation MultiPairs_v2": https://www.forexfactory.com/showthr...6#post12444816
Attached Image
  • #3,179
  • Edited 4:57am Aug 21, 2019 4:44am | Edited 4:57am
Quoting josi
{quote} I feel sorry for you. But if you - just to identiify the problem more easily - use SwingMan's setup and take a look at ANY tightly ranging market on ANY timeframe you choose, you will find: that RH's signal very often comes just before price turns around. This is clearly a strategy that works with trending markets but doesn't do at all well in tightly ranging ones (probably you know that anyway but for some reason didn't react to it up to now). Possible solutions to your problem: a) don't trade during tightly ranging markets b) use a strategy...

Stop bragging around
You can't tell if a market will be trending or ranging when you enter the trade
Stop defending something that doesn't work
Nobody here, absolutely nobody is showing a proof that the strategy is working
They all just brag about how good it is and only show winning trades on charts, but nothing more.

I tell you what, Sign up a trader account on ZuluTrade and post there all trades so we can all copy you and see how good your strategy is, why nobody is doing this ?
Because then we will see how crappy the strategy actually is !

Here, I will even help you with the link
https://www.zulutrade.com/trader-program
Sign up here as a trader, describe the strategy used and send all trades from this strategy on the zulu trader account, then we will see how profitable this is (or not)
  • #3,180
  • Aug 21, 2019 5:12am Aug 21, 2019 5:12am
just my 2 cents k... forex result is random so an early bird trade can be successful, just the trade will be more risky and depending on how risk averse we are... i will try to take only seond mouse trades for the next 20 of my trades.. if you don't agree with my views, just reply, i don't mind.. i post as i have the time now and in the hope to get feedbacks, to know how i view things wrongly, to get better at my trades..

EJ W1 down LL+ LC+; D1 descending triangle HH- LL+ LC+, trapped betwen hull ma and ema; H4 long cross 2nd bar..
AJ W1 down LL- LC--+; D1 triangle HH+ LL+ LC+ trapped +--; H4 long cross 2nd bar..
SJ W1 down LL+ LC--+; D1 triangle, HH-LL-LC+; H4 long cross 2nd bar..
these 3 CPs, have been in a rally down, these triangle seems as though PA wants to go up... however H4 is not in line with D1... if we were to enter -> an early bird trade

NC W1 down LL- LC+; D1 descending triangle HH+ HC+ and trapped; H4 short cross 3rd bar.. this actually tempted me to enter, but D1 yesterday seems not bearish.. so D1 can be said not in line with H4.. when D1 is bearish and H4 has a bearish signal, it would be better as H4 will be in line with D1, and somehow someway in line too with W1.. so i'm waiting for this tomorrow.. however note the big D1 candle on the left, more risky than AN signal few hours ago..

ES W1 up HH+ HC--+; D1 up LL+ LC--+ and trapped +--; H4 short continuation 2nd bar.. W1 up and D1 retracing down after a clear rally up, now short is part of a retracement for D1.. this is a less early bird trade if you think that enough space below for TP to be reached and accept the risk, then you can enter... anyway, one can wait for ES signal up, but even then D1 is not confirmed yet to go up, so have to wait for D1 to show up first which will in turn also in line with W1 and be a second mouse trade...

AU W1 down LL- LC+--; D1 triangle HH+ LL+ HC++-; H4 long continuation... very tempted to enter, but H4 at the moment still not in line minimal with D1.. totally an early bird for this system..
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