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Trading Made Simple(r)

  • #3,941
  • Edited 11:18am Sep 22, 2019 10:59am | Edited 11:18am
Quoting 40PipsAlan
{quote} I have just realised my trade report for the week is a bit off. The 1.13% account increase is based on the total demo account of 50K. I have been trading R based on 2% of 5k for the purpose of the RR calculator on the charts which is £100 per trade. The real profit for the week is 11.3% as I am only trading with 5k and not 50K. I could use the whole account for trading with but I suspect it would not last very long. Probably too scared to blow £1000 per trade. So the week before must have been 5% profit. Wouldnt get that in an investment...
You also have to consider the margin ratio you get on a real account. Im with forex dot com and have a real account on 20:1 margin. Its only small but I guess limited by balance. It is just to play my best trades and to stay grounded with reality. I'm up and down and not profitable overall. You may have very little to use within the margin of 20:1. I always use 0.01 lot size per £40 of real money as using above this I hit margin.

Edit: Im based in the UK as I know margin rules varry depending where you are.
  • #3,942
  • Sep 22, 2019 11:25am Sep 22, 2019 11:25am
Quoting 40PipsAlan
{quote} Is the answer 40320 for monthly?

I got the value ady. 43200 for monthly
  • #3,943
  • Sep 22, 2019 11:26am Sep 22, 2019 11:26am
Quoting 40PipsAlan
{quote} Is the answer 40320 for monthly?
i know the value already. Thank you!
  • #3,944
  • Sep 22, 2019 2:07pm Sep 22, 2019 2:07pm
Quoting nigpig
{quote} You also have to consider the margin ratio you get on a real account. Im with forex dot com and have a real account on 20:1 margin. Its only small but I guess limited by balance. It is just to play my best trades and to stay grounded with reality. I'm up and down and not profitable overall. You may have very little to use within the margin of 20:1. I always use 0.01 lot size per £40 of real money as using above this I hit margin. Edit: Im based in the UK as I know margin rules varry depending where you are.
Yah, Also in the UK. FXCM major pairs is 30:1 with minor pairs 20:1
Have also got a real account with Plus500 from the bitcoin boomdays with a little bit in and trades on there are lot size 0.01 as well. But we all have too start somewhere and playing with a demo to get a feel for it is fine by me.
I can understand why they dropped the leverage levels from 200:1 and more, because its very easy to wipe an account out. Even now with 10:1 on my other demo account its almost burnt out. Trading is a learning process and could take a while, but I am no hurry.
  • #3,945
  • Sep 22, 2019 3:59pm Sep 22, 2019 3:59pm
Quoting krismitt
{quote} Here is a Learning for you David.... See my AUDNZD Trade below. There was a valid H4 SHORT Trade using the 7 Indicators, but the RSI(14), D1 and RSI(14), W1 were both above 50 so I considered this to be a quick retracement and literally waited for the next BUY Signal. I'm not saying it is a great trade, I'm only saying that the 2 additional indicators kept me out of a possible bad trade and opened the door for a good one. My stop is now covered so it cannot be a loosing trade. #Learnings. {image} More #Learnings: This was my BIG Loosing...
Thank you for this and apologies for the slow reply. I have been away this weekend at a rather exhausting family event. I'll reply properly tomorrow when I've had a little sleep
  • #3,946
  • Sep 22, 2019 4:21pm Sep 22, 2019 4:21pm
Can someone code the smtmms oscillator for tradingview?
Thx
  • #3,947
  • Sep 22, 2019 4:26pm Sep 22, 2019 4:26pm
I killed demo acount when today d1 bar opened
last continuation trades of d1
eurcad
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gbpsgd
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I must open new demo acount and try harder
  • #3,948
  • Sep 22, 2019 7:08pm Sep 22, 2019 7:08pm
Quoting krismitt
{quote} Here is a Learning for you David.... See my AUDNZD Trade below. There was a valid H4 SHORT Trade using the 7 Indicators, but the RSI(14), D1 and RSI(14), W1 were both above 50 so I considered this to be a quick retracement and literally waited for the next BUY Signal. I'm not saying it is a great trade, I'm only saying that the 2 additional indicators kept me out of a possible bad trade and opened the door for a good one. My stop is now covered so it cannot be a loosing trade. #Learnings. {image} More #Learnings: This was my BIG Loosing...

AUDNZD ... COWABUNGA says that is good.

EURCHF ... COWABUNGA says that is not good.

7 indicators for the trade setup is quite enough. Do you need another indicator to 'confirm' the 7?
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #3,949
  • Sep 22, 2019 7:15pm Sep 22, 2019 7:15pm
Quoting forexdg
I killed demo acount when today d1 bar opened last continuation trades of d1 eurcad {image} gbpsgd {image} I must open new demo acount and try harder

no matter which timeframe you are trading, you always must know if you are trading in the direction of an established trend or a correction of the established trend or the retracement of another trend (Dr Alexander Elder ... Triple Screen Trading System approach)
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #3,950
  • Sep 22, 2019 7:22pm Sep 22, 2019 7:22pm
Quoting RobinHood
{quote} 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.

when you are done reading all the books listed above by RobinHood,

there is this book , my favourite one on my shelf.

it will help you deal with your trading issues.

Attached Image (click to enlarge)
Click to Enlarge Name: Steenbarger 101 Daily Coach.png Size: 264 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #3,951
  • Sep 22, 2019 9:06pm Sep 22, 2019 9:06pm
Thank you for the book Emmanuel, could you share cowabunga?

Edit: I found it...But, Emmanuel... you added any twist to it??
"Great Men are not born great, They Grow Great."
  • #3,952
  • Sep 22, 2019 10:59pm Sep 22, 2019 10:59pm
Quoting emmanuel7788
{quote} AUDNZD ... COWABUNGA says that is good. EURCHF ... COWABUNGA says that is not good. 7 indicators for the trade setup is quite enough. Do you need another indicator to 'confirm' the 7?
No; same 7 Indicators.

I prefer to take my trades when the RSI is "true" on D1 and W1.

LazyTrading perhaps; the indicator allows me to see this on my H4 without the need to switch to D1 and W1.

Cheers.
  • #3,953
  • Sep 23, 2019 1:15am Sep 23, 2019 1:15am
Quoting emmanuel7788
{quote} AUDNZD ... COWABUNGA says that is good. EURCHF ... COWABUNGA says that is not good. 7 indicators for the trade setup is quite enough. Do you need another indicator to 'confirm' the 7?
Hi Emm, are you one of the original ninja turtle traders? Master splinter perhaps!
  • #3,954
  • Edited 6:44am Sep 23, 2019 5:50am | Edited 6:44am
Hi,

I read first 40 pages of this thread, and the last ones from present. I like so much this method, consider it has many elements to consider. I traded on demo all summer and started on real. My problem is the time, I don't spend a lot of time on the pc and for now I feel comfortable on small TF, like M5 and M15.. Sometimes all the good trades pass because I was not looking at the phone in that moment.

So, is there somebody who made a notification for the crossover? and for the phone also? Thanks a lot !

Or even an EA?
  • #3,955
  • Sep 23, 2019 6:03am Sep 23, 2019 6:03am
Quoting emmanuel7788
{quote} when you are done reading all the books listed above by RobinHood, there is this book , my favourite one on my shelf. it will help you deal with your trading issues. {image}
The Daily Trading Coach

Attached File(s)
File Type: pdf The Daily Trading Coach.pdf   4.2 MB | 2,496 downloads
Always a Student, Never a Master - Emulate What Works
  • #3,956
  • Sep 23, 2019 1:58pm Sep 23, 2019 1:58pm
Attached Image (click to enlarge)
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Trade well.
  • #3,957
  • Sep 23, 2019 4:12pm Sep 23, 2019 4:12pm
Quoting emmanuel7788
{quote} no matter which timeframe you are trading, you always must know if you are trading in the direction of an established trend or a correction of the established trend or the retracement of another trend (Dr Alexander Elder ... Triple Screen Trading System approach)
how is this happen with this method? how I can see what big time frames say?
is with 5 ema or how?
I enter now on eursgd d1 continuation and I folowed the rules precisely for this entry, but Im afraid it will be again loss trade
two bar lookback stoploss and 2R takeprofit
can you say how its done with big time frames with triple screen?
Attached Image (click to enlarge)
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  • #3,958
  • Sep 23, 2019 5:08pm Sep 23, 2019 5:08pm
Is this a valid entry?
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  • #3,959
  • Edited 6:25pm Sep 23, 2019 5:21pm | Edited 6:25pm
Quoting forexdg
{quote} how is this happen with this method? how I can see what big time frames say? is with 5 ema or how? I enter now on eursgd d1 continuation and I folowed the rules precisely for this entry, but Im afraid it will be again loss trade two bar lookback stoploss and 2R takeprofit can you say how its done with big time frames with triple screen? {image}
Study this Post Forexdg.

https://www.forexfactory.com/showthr...7#post12407867

This "picture" is worth much more than 1000 words!.
Attached Image


Trade well.
  • #3,960
  • Sep 23, 2019 5:23pm Sep 23, 2019 5:23pm
Quoting forexdg
{quote} how is this happen with this method? how I can see what big time frames say? is with 5 ema or how? I enter now on eursgd d1 continuation and I folowed the rules precisely for this entry, but Im afraid it will be again loss trade two bar lookback stoploss and 2R takeprofit can you say how its done with big time frames with triple screen? {image}
Maybe this can clear the confusion about the Triple Screen Trading System....
Attached File(s)
File Type: pdf Elearn_Triple-Screen-Trading-System_04Aug17.pdf   369 KB | 7,746 downloads
"Great Men are not born great, They Grow Great."
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