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

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Trading Made Simple(r)

  • #3,621
  • Sep 6, 2019 6:44am Sep 6, 2019 6:44am
Quoting forexdg
{quote} robinhood, in 5 you said not to touch the trade until its take profit or stoploss but are we not suposed to trail stoploss when every new candle open?
I said: "Here's what I think you should when you are learning to trade OR trying to finally get profitable."

Doing what I suggested in Post #3604 is just an exercise to help new traders get used to taking trades, placing stops and targets, and making you stick with the trade...and not touch it.

It teaches you that placing trades is easy, and that there's nothing to fear.
Always a Student, Never a Master - Emulate What Works
  • #3,622
  • Sep 6, 2019 6:48am Sep 6, 2019 6:48am
Quoting Marcusv007
@ Emmanuel - RH Method with trading beyond the matrix collaboration. Multiple entries multiple exists. Thank you guys for lifting my trading game. Cant not extend my gratitude enough. {image} {image}
Great Job! I am glad to see that it's working for you.

Why don't you share with us what specifically you are doing to achieve those results?
Always a Student, Never a Master - Emulate What Works
  • #3,623
  • Sep 6, 2019 6:53am Sep 6, 2019 6:53am
Quoting RobinHood
{quote} Great Job! I am glad to see that it's working for you. Why don't you share with us what specifically you are doing to achieve those results?
Marcus masterclass next week
  • #3,624
  • Sep 6, 2019 7:36am Sep 6, 2019 7:36am
Quoting RobinHood
{quote} Great Job! I am glad to see that it's working for you. Why don't you share with us what specifically you are doing to achieve those results?
Hi RobinHood, thanks. Yes, I did share my progress here: https://www.forexfactory.com/showthr...9#post12459329 Post 3,244

In addition to the above, where I had left a question mark...

I concluded at present time:
I'm now of the understanding to risk 2 - 3% per trade never more than 4% of my equity. Once I confirm the trade is correct I will add anywhere from 3 - 6 modest lot positions as long as momentum is confirmed as noted in post Post 3,244 I will then scale out those positions but leave 1 as I see buying or selling is exhausted. I will then use THV/ trailing stop to manage the last trade because unlike my earlier post I was signing off in profit but not really letting a winner run further and therefore potentially missing out.

Many Thanks once again.
The more you learn, the more you see
  • #3,625
  • Sep 6, 2019 9:04am Sep 6, 2019 9:04am
Quoting Marcusv007
{quote} Hi RobinHood, thanks. Yes, I did share my progress here: https://www.forexfactory.com/showthr...9#post12459329 Post 3,244 In addition to the above, where I had left a question mark... I concluded at present time: I'm now of the understanding to risk 2 - 3% per trade never more than 4% of my equity. Once I confirm the trade is correct I will add anywhere from 3 - 6 modest lot positions as long as momentum is confirmed as noted in post...
You're welcome. And thanks for sharing!
Always a Student, Never a Master - Emulate What Works
  • #3,626
  • Sep 6, 2019 9:17am Sep 6, 2019 9:17am
Here is my result after a few trades.

Attached Image (click to enlarge)
Click to Enlarge Name: 1.PNG Size: 30 KB


THANK RH!!!
  • #3,627
  • Sep 6, 2019 9:36am Sep 6, 2019 9:36am
Quoting Jefflee
Here is my result after a few trades. {image} THANK RH!!!
You're welcome! Great job!
Always a Student, Never a Master - Emulate What Works
  • #3,628
  • Sep 6, 2019 12:57pm Sep 6, 2019 12:57pm
[quote=emmanuel7788;12437449]
Quoting Bleemus
{quote} Hi Bleemus I will explain this with a H1 live trade today. Meantime, you can set up your CM with these parameters. Important that you set those yellow highlighted in yellow to False and we will learn how the CM feature Capital Protection work in realtime live trade. {image} {image} {image} ...wait...
Hi there. I like to trade the Daily TF using TMS. What settings for the Cave Manager would you suggest?
  • #3,629
  • Sep 6, 2019 1:18pm Sep 6, 2019 1:18pm
My results for the week.
Thats +3.5R, slowly catching up the difficult past 2 weeks.
Attached Image (click to enlarge)
Click to Enlarge Name: Report.JPG Size: 72 KB
  • #3,630
  • Sep 6, 2019 1:49pm Sep 6, 2019 1:49pm
Quoting Barraka
My results for the week. Thats +3.5R, slowly catching up the difficult past 2 weeks. {image}
Excellent! Good job.
Always a Student, Never a Master - Emulate What Works
  • #3,631
  • Sep 6, 2019 2:10pm Sep 6, 2019 2:10pm
Quoting Barraka
My results for the week. Thats +3.5R, slowly catching up the difficult past 2 weeks. {image}
How do you generate a file/screenshot in that format Barraka?
  • #3,632
  • Sep 6, 2019 2:22pm Sep 6, 2019 2:22pm
Quoting itsDavid
{quote} How do you generate a file in that format Barraka?
Hi ItsDavid,
Just happened to see your request. Attached is the file your looking for, and I only add it to a chart when I choose to produce the results.
Take care,
TX15

PS. Barraka may be using a different app. but they appear to be the same.
Attached File(s)
File Type: mq4 TradeReport_compact - v.1.04.mq4   153 KB | 305 downloads
  • #3,633
  • Edited 2:43pm Sep 6, 2019 2:26pm | Edited 2:43pm
Quoting Tx15
{quote} Hi ItsDavid, Just happened to see your request. Attached is the file your looking for, and I only add it to a chart when I choose to produce the results. Take care, TX15 PS. Barraka may be using a different app. but they appear to be the same. {file}
Thanks
  • #3,634
  • Sep 6, 2019 2:49pm Sep 6, 2019 2:49pm
Quoting itsDavid
{quote} Is there anything I should know about the date settings in that indi? No matter what dates I input it's currently outputting exactly the same results.
Sorry your having an issue. I have attached a file that shows the dates from 9/2/19 through this week ending 9/6/19. I have not taking any trades with RH's method, but will very soon, so the Compact Report is not showing any closed trades. After you loaded the Compact Report file in the MT4 indicator section, did you restart the MT4 platform? The dates are the only input that I ever change...leave all others set to default.
Attached Image
  • #3,635
  • Sep 6, 2019 3:19pm Sep 6, 2019 3:19pm
Quoting itsDavid
{quote} How do you generate a file/screenshot in that format Barraka?
Yes, it's the trade report, like the one that was attached. I leave a tab (chart) specifically for it, so that it's always there, and I just update it once a week (at the end of week, just modifying the dates).
  • #3,636
  • Edited 4:02pm Sep 6, 2019 3:46pm | Edited 4:02pm
Quoting Tx15
{quote} Sorry your having an issue. I have attached a file that shows the dates from 9/2/19 through this week ending 9/6/19. I have not taking any trades with RH's method, but will very soon, so the Compact Report is not showing any closed trades. After you loaded the Compact Report file in the MT4 indicator section, did you restart the MT4 platform? The dates are the only input that I ever change...leave all others set to default. {image}
I think the issue is that I'm not understanding something about how the records are held on MT4, so it is making the results I am getting appear to be wrong. Currently I am getting a loss of £261 which accurately reflects the results on the left of the console. However both my manual record checking, and the right hand number on the console show a profit of £442, which is correct for the week. So I am a little confused where the loss is coming from in both the MT4 console and the indi. I have been through every profit and loss manually and get £442.06 as shown on the right of the console. I'm sure I'm misunderstanding something, but no idea what that might be.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Image1.jpg Size: 242 KB
Click to Enlarge Name: Image2.jpg Size: 393 KB
  • #3,637
  • Sep 6, 2019 3:56pm Sep 6, 2019 3:56pm
My detailed statement for the week also shows a loss of £261. However I have individually checked the profit and loss numbers and still get £442 profit. Obviously doing something wrong but can't figure out what, lol

7.90
22.71
39.83
56.56
56.56
47.34
5.57
45.94
16.90
5.57
29.68
19.19
11.33
17.09
17.17
48.69
24.74
24.74
2.22
101.90
30.62
25.80
55.99
9.13
28.50
31.06
36.00
89.33
26.19
31.96
64.09
41.23
30.88
6.24
24.81
19.43
Equals: 1152.89

-36.97
-74.41
-71.18
-76.04
-52.97
-131.19
-98.74
-169.33
Equals: 710.83

Total: +£442.06

*confused
Attached Image (click to enlarge)
Click to Enlarge Name: Image3.jpg Size: 1.1 MB
  • #3,638
  • Sep 6, 2019 4:29pm Sep 6, 2019 4:29pm
Hey itsDavid,

Confirm that the Trade Report is loading successfully by going to the very bottom of the MT4 and left click on the Journal Tab. You should see the comment as attached. I know it's very frustrating when things don't work like intended, but hang in there. Does anybody else have any suggestions to help itsDavid out?
Attached Image
  • #3,639
  • Edited 6:30pm Sep 6, 2019 6:06pm | Edited 6:30pm
Quoting Tx15
Hey itsDavid, Confirm that the Trade Report is loading successfully by going to the very bottom of the MT4 and left click on the Journal Tab. You should see the comment as attached. I know it's very frustrating when things don't work like intended, but hang in there. Does anybody else have any suggestions to help itsDavid out? {image}
Thanks. I appreciate the response. The issue isn't with the indi though, it is loading successfully and accurately showing the figures it's getting from the MT4 software. The issue is that those figures are actually incorrect.

It appears that £703.36 of the profitable trades are being treated as a deposit by MT4. If you deduct that figure from the total of profitable closed trades (£1152.89), and then deduct the trades closed at a loss (£710.83), you end up with a total of -£261.30, which is what it is incorrectly reporting as my weeks result. Has anyone else had this issue?

ADDED: OK, for some reason I can't fathom this MT4 install treats partially closed trades (using CaveManager to exit winning trades in stages) as a deposit, and therefore does not count them as profit! Very strange. I added all the trades closed in this way, and the figure was £703.36, the amount being counted as a 'deposit', and therefore not being included in the profit. Messing all the figures up. Does anyone know if there is there a setting I can change, or do I have an issue with my installation?
  • #3,640
  • Sep 6, 2019 6:26pm Sep 6, 2019 6:26pm
Quoting Marcusv007
{quote} Hi RobinHood, thanks. Yes, I did share my progress here: https://www.forexfactory.com/showthr...9#post12459329 Post 3,244 In addition to the above, where I had left a question mark... I concluded at present time: I'm now of the understanding to risk 2 - 3% per trade never more than 4% of my equity. Once I confirm the trade is correct I will add anywhere from 3 - 6 modest lot positions as long as momentum is confirmed as noted in post...
I have just re-read your post from a few weeks ago. Invaluable advice which I will read again several times until it sinks in fully. Thank you for offering it.
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