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Trading Made Simple(r)

  • #3,741
  • Sep 12, 2019 5:14am Sep 12, 2019 5:14am
Quoting itsDavid
Wow, that EURUSD move could have caused serious damage to peoples accounts. Hope no one got hit by it. I had just opened a buy on it about a minute before and while I got out of it with profit, I'm not sure a real money account would have. {image}
Going down was no surprise; H4 was either on a pullback being painted on the D1, or making a down continuation. The down continuation is lower probability. However, note that both options show DOWN. So it SHOULD have been causing some serious joy to peoples' accounts.
To free Gazans of Hamas, use whatever it takes.
  • #3,742
  • Sep 12, 2019 5:51am Sep 12, 2019 5:51am
Quoting itsDavid
Wow, that EURUSD move could have caused serious damage to peoples accounts. Hope no one got hit by it. I had just opened a buy on it about a minute before and while I got out of it with profit, I'm not sure a real money account would have. {image}
I was short, and I'm still in it.

Attached Image (click to enlarge)
Click to Enlarge Name: EU Short.JPG Size: 248 KB


And before anyone asks. I took it based on the 4 hr. chart, but I want to turn it into a daily trade so that's why my stop is where it is.
Always a Student, Never a Master - Emulate What Works
  • #3,743
  • Sep 12, 2019 1:13pm Sep 12, 2019 1:13pm
Quoting DrDave
{quote} Going down was no surprise; H4 was either on a pullback being painted on the D1, or making a down continuation. The down continuation is lower probability. However, note that both options show DOWN. So it SHOULD have been causing some serious joy to peoples' accounts.
Yeah. Even though it came out well ahead, it was probably the worst trade I've made, but also the best trade as far as learning. I ignored some pretty obvious news and other signals that it was heading down, and went long anyway. I'm going to replay it tomorrow ad see what else there is to learn from it.

Not sure how I managed to get lucky enough to make a profit on it!
  • #3,744
  • Sep 13, 2019 12:20am Sep 13, 2019 12:20am
GBPJPY - Looking good for Long.
Theres a breakout on all TF's. This one should be a steaming train IMHO, "BUT I could be wrong"
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 99 KB
The more you learn, the more you see
  • #3,745
  • Sep 13, 2019 1:04am Sep 13, 2019 1:04am
Quoting Marcusv007
GBPJPY - Looking good for Long. Theres a breakout on all TF's. This one should be a steaming train IMHO, "BUT I could be wrong" {image}
Tread lightly: H4 overdue to drop. M5 already started down.
To free Gazans of Hamas, use whatever it takes.
  • #3,746
  • Sep 13, 2019 1:19am Sep 13, 2019 1:19am
Quoting DrDave
{quote} Tread lightly: H4 overdue to drop. M5 already started down.
Comments like these are much needed my good sir, look at EURJPY yesterday went all the way from 119.33 down to 117.53 now today its back at 119.77 how does one explain that lol... proves without sound money management, you will get eaten alive i.e. taken out the game to exist on the sidelines assuming one does come back others their dream is taken away from them completely...

Book attached for fellow traders consideration.
Attached File(s)
File Type: pdf Money Management Report (Van Tharp).pdf   1.1 MB | 1,294 downloads
The more you learn, the more you see
  • #3,747
  • Sep 13, 2019 2:03am Sep 13, 2019 2:03am
GBP-JPY - I'm not greedy I'm happy to lock in my profit. Even if my TP was set at 134.72. Anyone still in may want to bank profit before 134.70 IMHO
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot2.png Size: 22 KB
The more you learn, the more you see
  • #3,748
  • Sep 13, 2019 2:07am Sep 13, 2019 2:07am
Quoting Marcusv007
GBP-JPY - I'm not greedy I'm happy to lock in my profit. Even if my TP was set at 134.72. Anyone still in may want to bank profit before 134.70 IMHO {image}

yes boss, now at breakeven
  • #3,749
  • Edited 3:17am Sep 13, 2019 2:57am | Edited 3:17am
Trade Report: Update. Its been a tough week with alot of lessons learnt. But I was able to do my 10% target consistently each day. Infact slightly more,I just want to find consistency balanced by good risk/ money management; I think that will be the key. But I'm glad to report I no longer trade with emotion. GBPCHF I will never ever trade again LOL
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 83 KB
The more you learn, the more you see
  • #3,750
  • Sep 13, 2019 3:44am Sep 13, 2019 3:44am
Quoting Marcusv007
{quote} Comments like these are much needed my good sir, look at EURJPY yesterday went all the way from 119.33 down to 117.53 now today its back at 119.77 how does one explain that lol... proves without sound money management, you will get eaten alive i.e. taken out the game to exist on the sidelines assuming one does come back others their dream is taken away from them completely... Book attached for fellow traders consideration. {image}
The Daily and Weekly are coming into play, so the Money Takers Market Makers will be making rather large swings to accumulate contracts at a preferred level from which to make a big move.
To free Gazans of Hamas, use whatever it takes.
  • #3,751
  • Sep 13, 2019 3:57am Sep 13, 2019 3:57am
Quoting DrDave
{quote} The Daily and Weekly are coming into play, so the Money Takers Market Makers will be making rather large swings to accumulate contracts at a preferred level from which to make a big move.
BIG MONEY never loses ...
The more you learn, the more you see
  • #3,752
  • Sep 13, 2019 4:36am Sep 13, 2019 4:36am
Quoting DrDave
{quote} Tread lightly: H4 overdue to drop. M5 already started down.
Now is M15's turn to give its attempt.
To free Gazans of Hamas, use whatever it takes.
  • #3,753
  • Sep 13, 2019 4:45am Sep 13, 2019 4:45am
Quoting Marcusv007
GBP-JPY - I'm not greedy I'm happy to lock in my profit. Even if my TP was set at 134.72. Anyone still in may want to bank profit before 134.70 IMHO {image}
Good job!

I missed that GBPJPY trade somehow, but I did get the EURJPY trade.

Attached Image (click to enlarge)
Click to Enlarge Name: EJ Daily Trade.JPG Size: 241 KB
Always a Student, Never a Master - Emulate What Works
  • #3,754
  • Sep 13, 2019 4:52am Sep 13, 2019 4:52am
TMS is very good system
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_12.png Size: 20 KB
  • #3,755
  • Sep 13, 2019 4:55am Sep 13, 2019 4:55am
Quoting mfaris12
TMS is very good system {image}
Agreed!
  • #3,756
  • Sep 13, 2019 8:26am Sep 13, 2019 8:26am
Is anyone using RMI as an additional confirmation indi with this system? Both for entering, and refining exits?

I added it a couple of days ago and have found it to be quite useful in gauging the likely strength of a move, gauging when a move is ending (for exits), and as an additional confirmation for entries.
  • #3,757
  • Sep 13, 2019 8:28am Sep 13, 2019 8:28am
I am currently making a consistent 1% account profit per day in demo with this system. Trading only very part time as work commitments mean I cannot put more time in currently.

If I am able to continue along the same lines for 3 - 6 months, is it realistic to think I could continue in the same vein after switching to real money?
  • #3,758
  • Sep 13, 2019 8:49am Sep 13, 2019 8:49am
Quoting itsDavid
Is anyone using RMI as an additional confirmation indi with this system? Both for entering, and refining exits? I added it a couple of days ago and have found it to be quite useful in gauging the likely strength of a move, gauging when a move is ending (for exits), and as an additional confirmation for entries.
What is RMI?
Always a Student, Never a Master - Emulate What Works
  • #3,759
  • Sep 13, 2019 8:52am Sep 13, 2019 8:52am
Quoting itsDavid
I am currently making a consistent 1% account profit per day in demo with this system. Trading only very part time as work commitments mean I cannot put more time in currently. If I am able to continue along the same lines for 3 - 6 months, is it realistic to think I could continue in the same vein after switching to real money?
There's no guarantee but what is for sure is that if you aren't profitable in demo, then you won't be profitable with real money because it's much harder emotionally.

Crawl, Walk, Run.
Always a Student, Never a Master - Emulate What Works
  • #3,760
  • Sep 13, 2019 8:56am Sep 13, 2019 8:56am
Quoting RobinHood
{quote} There's no guarantee but what is for sure is that if you aren't profitable in demo, then you won't be profitable with real money because it's much harder emotionally. Crawl, Walk, Run.
I think the emotion side should be fine for me. I was a pro-poker player for 5 years, as well as making a full time living staking other players. That's something I should have in my favour if nothing else!
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