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

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Trading Made Simple(r)

  • #3,861
  • Sep 18, 2019 12:33pm Sep 18, 2019 12:33pm
Quoting moRTaL
{quote} No prob Do you mean the step like bands? TMA+CG 4C AA MTF TT.mq4 -> Inputs tab: Time Frame (click it once or twice) then select H1 and change the colour to yellow; while the orange one is TimeFrame: Current, Light salmon colour is H4.. same setting for all as posted above except different time frame applied on M15. {image}
Thank you
Always a Student, Never a Master - Emulate What Works
  • #3,862
  • Sep 18, 2019 4:40pm Sep 18, 2019 4:40pm
Quoting NewbTrader7
{quote} take a look to the left, immediately there you will see an area of demand. In my opinion, its best to wait for that area to be cleared, tested, rejected and then when the indicators line up you take the short.
thank you but I thought this method dont need sup and res and suply and demand
I thought it need only indicators to align
  • #3,863
  • Sep 18, 2019 4:44pm Sep 18, 2019 4:44pm
another lose d1 continuation trade eurusd
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  • #3,864
  • Edited 7:18pm Sep 18, 2019 5:38pm | Edited 7:18pm
Quoting forexdg
another lose d1 continuation trade eurusd {image}
I don't see how that qualifies as a legitimate Continuation Trade. Maybe you could explain it?
Always a Student, Never a Master - Emulate What Works
  • #3,865
  • Sep 18, 2019 8:53pm Sep 18, 2019 8:53pm
Quoting RobinHood
{quote} Here's just a part of my trading library... {image} Now try to imagine the investment in money and time that I've made...because that's how bad I wanted to succeed at trading. Ask yourself how much you've actually spent on your trading education. "If You Think Education is Expensive...Try Ignorance"
Hi RH, can you please recommend 3 to 5 books in your opinion are best read in terms of psychology and money management aspects. And in what order should I read them in your opinion. Or best read at all about trading...Thank You in advance....
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  • #3,866
  • Sep 18, 2019 11:08pm Sep 18, 2019 11:08pm
EURGBP.

Been sitting here waiting for this guy to go one way or the other for what feels like Ages!
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Trade well.
  • #3,867
  • Sep 18, 2019 11:30pm Sep 18, 2019 11:30pm
Running profit with TMS system
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  • #3,868
  • Sep 18, 2019 11:36pm Sep 18, 2019 11:36pm
Quoting RaV1307
{quote} Hi RH, can you please recommend 3 to 5 books in your opinion are best read in terms of psychology and money management aspects. And in what order should I read them in your opinion. Or best read at all about trading...Thank You in advance.... {image}
Hey Rav - I love your question as each trader has their favourites and i'd like to see some answers.... I have many as well but the only ones i have re-read multiple times and have Autographed copies of are 1) Mark Douglas - Trading in the Zone 2) Van Tharpe - Trading beyond the matrix and 3) Covel's Trend Following (not autographed but really worn out)......If you don't know these titles i'll give you a little spoiler alert - 90% of it is about the Psyche of trading!!!
  • #3,869
  • Sep 19, 2019 2:06am Sep 19, 2019 2:06am
CURRENT TRADES.

Been trading the NZD this week.

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Trade well.
  • #3,870
  • Sep 19, 2019 2:08am Sep 19, 2019 2:08am
Nice one. AUD/JPY sell and EUR/AUD buy romped home while i was sleeping. Must have been the news last night
2R on each one to make up for the rest of this weeks rubbish trades.
  • #3,871
  • Sep 19, 2019 2:17am Sep 19, 2019 2:17am
And some JPY Pairs

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Trade well.
  • #3,872
  • Sep 19, 2019 2:26am Sep 19, 2019 2:26am
Quoting 40PipsAlan
Nice one. AUD/JPY sell and EUR/AUD buy romped home while i was sleeping. Must have been the news last night 2R on each one to make up for the rest of this weeks rubbish trades.
Cool Bro.

Working on my Exit strategy. Don't want to continue getting out of potential +5R Trades at +1R or 2R, so I'm checking out the RSI as the main indicator to inform my Exits.

Cheers.
  • #3,873
  • Sep 19, 2019 2:57am Sep 19, 2019 2:57am
Quoting krismitt
{quote} Cool Bro. Working on my Exit strategy. Don't want to continue getting out of potential +5R Trades at +1R or 2R, so I'm checking out the RSI as the main indicator to inform my Exits. Cheers.
Greed is a poison. Some it kills quickly, others slowly, but all that have embraced it are gone.
To free Gazans of Hamas, use whatever it takes.
  • #3,874
  • Sep 19, 2019 3:20am Sep 19, 2019 3:20am
Quoting DrDave
{quote} Greed is a poison. Some it kills quickly, others slowly, but all that have embraced it are gone.
To each his/her own

Cheers.
  • #3,875
  • Sep 19, 2019 3:34am Sep 19, 2019 3:34am
Quoting krismitt
{quote} Cool Bro. Working on my Exit strategy. Don't want to continue getting out of potential +5R Trades at +1R or 2R, so I'm checking out the RSI as the main indicator to inform my Exits. Cheers.
I would be happy with any positive pips per trade and not so many losers.
  • #3,876
  • Edited 4:54am Sep 19, 2019 4:28am | Edited 4:54am
Quoting 40PipsAlan
{quote} I would be happy with any positive pips per trade and not so many losers.
Absolutely and totally agree Alan!.

In my earlier comment, however, I was sharing what I was doing/testing with my trading...emphasis on my (I do not trade anyone's money ).

There is nothing reckless nor risky about what I am doing. With H4 entries, I am watching the Daily Charts for all my Trades and will close any trade if there is a colour change on the Daily "Candle" (Synergy+Hieken Ashi) at 5:00pm New York Time.

Trade well.
  • #3,877
  • Edited 7:43am Sep 19, 2019 7:10am | Edited 7:43am
Quoting RaV1307
{quote} Hi RH, can you please recommend 3 to 5 books in your opinion are best read in terms of psychology and money management aspects. And in what order should I read them in your opinion. Or best read at all about trading...Thank You in advance.... {image}
I like all the ones Neil mentioned.

Reminiscences of a Stock Operator
Market Wizards
The New Market Wizards
How to Make Money in Stocks
Insider Buy Super Stocks
Zen in the Markets
Diary of a Professional Commodity Trader
The Trading Game: Playing by the Numbers to Make Millions
Phantom of the Pits
Way of the Turtle
You Can't Lose Trading Commodities

It doesn't matter what order you read them in.
Always a Student, Never a Master - Emulate What Works
  • #3,878
  • Sep 19, 2019 12:43pm Sep 19, 2019 12:43pm
Note to Self: If you have a fever and you think you can trade, DON'T, "I SWEAR I HAD A STOP LOSS," moment could happen:

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This was the AUD/CAD, it went well until it didn't. Would have gotten stopped out at b/e but you know, stupidity happened. Thought I'd share, its still open, will try to recover since its sitting at the breakout level. All signs point to bearish so if we get a daily close below the weekly low I'll be closing it and wagging my tail between the legs.

Stay Disciplined.
  • #3,879
  • Edited 2:14am Sep 20, 2019 1:37am | Edited 2:14am
ÈURGBP - Short: Yes it is the 3rd candle but there is a very strong sell (RSI diving to 4 oçlock) on H4 time frame, also I see a breakout on h1, h4, 1day.
But I could be wrong As always one needs to make their own mind up and never just follow blindly, it can lead to loss of profits.
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The more you learn, the more you see
  • #3,880
  • Sep 20, 2019 2:28am Sep 20, 2019 2:28am
Quoting Marcusv007
ÈURGBP - Short: Yes it is the 3rd candle but there is a very strong sell (RSI diving to 4 oçlock) on H4 time frame, also I see a breakout on h1, h4, 1day. But I could be wrong As always one needs to make their own mind up and never just follow blindly, it can lead to loss of profits. {image}
GBP Reminds us of its volatility, Brown RSI is signalling a change price speed and momentum. Proceed with caution...
The more you learn, the more you see
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