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Trading Made Simple

  • #99,081
  • Nov 13, 2019 7:36pm Nov 13, 2019 7:36pm
EURJPY Nov 14 M15 EXAMPLE

if you buy this M15 candle, you run into resistance recent price action to the left and the 50EMA which near equivalent of the W1 10EMA

it is counter trend and also not the best time of the day to be trading EJ now.

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Click to Enlarge Name: EURJPY Nov 15 M15 buy 14-11-2019 09-31-02.png Size: 61 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #99,082
  • Nov 13, 2019 9:33pm Nov 13, 2019 9:33pm
Post 99,060: why do you make such baseless allegations that I hijack this thread?

Post 99,081:The Power of 10EMA
-----
#486
I'm disappointed in a few of you and your actions. This is my thread and my method... traded the way I've laid it out.
I don't want to see any more posts that discuss other indicators... other ways...
-----
baseless allegations Proven fact's
Have gained nothing to respond with post after post.
Easy: Stop feeding the troll Tekkies.
  • #99,083
  • Nov 13, 2019 11:10pm Nov 13, 2019 11:10pm
Quoting Tekkies
Post 99,060: why do you make such baseless allegations that I hijack this thread? Post 99,081:The Power of 10EMA ----- #486 I'm disappointed in a few of you and your actions. This is my thread and my method... traded the way I've laid it out. I don't want to see any more posts that discuss other indicators... other ways... ----- baseless allegations Proven fact's Have gained nothing to...

hey Tekkies

You are still a laggard when it comes to reading this thread.
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That Post#486 was on April 11, 2011. Did you read those posts by other members ? I am sure you did not.
Now go back and read from Post#343 to Post#485 and you will learn what other members posted and why Big E responded with his Post#486.

From that point (Post#486) on, read all the way up to his last Post#12,912 and you will learn a few more things which you still have not learned. Try contact X-Man as he lives in South Africa too. He was in Big E skype group and he knows a lot more than you and I. 10EMA was his 'baby' and price action is king is also his 'baby'.

Long before April 11, 2011 Big E already mentioned that we can trade his 5-Method without any indicators and he was right. Big E was a honest man and I beleive him like many of us do. I can trade without his TDI#25 and still maintain my consistent profitable months. The secret(if there is one) is not in the TDI.

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Trade Well and Trade Safe.


Links to two of most successful TMS traders:

LE1 TMS M15
https://www.forexfactory.com/showthread.php?t=345586

X-Man TMS H1 and H4
https://www.forexfactory.com/showthread.php?t=327972

and of course also Medhi343
https://www.forexfactory.com/showthread.php?t=588548
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #99,084
  • Nov 13, 2019 11:17pm Nov 13, 2019 11:17pm
Quoting emmanuel7788
{quote} The Power of 10EMA Post#8,528 by FF member named tango-1 Go to that link and learn it. we can discuss with live market charts how to find better and higher probability trade setups when trading the lower timeframes M15 and H1. {image} attached 10EMA indicator {file}

Here is today' example how I trade the Daily and use the Power of 10EMA to pick an entyr on M5.

Look at D1, it is a CONTINUATION of the established trend and when the D1 PA closed below its 10EMA, I look for sell.

Be patient and wait for the D1 retracement on lower timeframe and pay attention to the H1 price action.
There was a spike which is the high of the H4 big candle. I set a sell limit at the M5 200EMA which is near the H4 spike.
Limit order got triggered...
My favourite is to use M5 for entry trigger which programmed in my trade manager.

Attached Image (click to enlarge)
Click to Enlarge Name: EURJPY Nov 14 M15 trade spike of H4 High 14-11-2019 10-37-33.png Size: 107 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #99,085
  • Nov 14, 2019 12:55am Nov 14, 2019 12:55am
Tekkies, don't respond you will only feed the troll
  • #99,086
  • Nov 14, 2019 1:14am Nov 14, 2019 1:14am
GBPUSD Nov 14 H1

I see a narrowing range and look at the D1 ... it is at its 10EMA acting like its 'pivot'can swing either ways ... Up or Down.

within that narrowing range, it is unlikely that we can pick a swing of 3 to 8 candles.

go look for another better pair to trade.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD Nov 14 narrowing range 14-11-2019 15-11-21.png Size: 49 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #99,087
  • Edited 1:30am Nov 14, 2019 1:16am | Edited 1:30am
Quoting emmanuel7788
{quote} Here is today' example how I trade the Daily and use the Power of 10EMA to pick an entyr on M5. Look at D1, it is a CONTINUATION of the established trend and when the D1 PA closed below its 10EMA, I look for sell. Be patient and wait for the D1 retracement on lower timeframe and pay attention to the H1 price action. There was a spike which is the high of the H4 big candle. I set a sell limit at the M5 200EMA which is near the H4 spike. Limit order got triggered... My favourite is to use M5 for entry trigger which programmed in my trade manager....
Nice trades Emmanuel, here is how one of my Scalping trade manager works.
I discarded the TDI & Stoc and just kept the 5EMA+3. Really its just the 10 EMA of course.
Here I build it into my Scalping trade manager which takes a trade on every cross of the EMA provided its to the positive of the last trade.
Its just so easy to make green pips this way but the secret is to keep your targets small, then re-enter.
Here trade size is 0.02 because of the large amounts of EA's I run, I probably have 200-300 trades opened over many accounts.
EA has currently trades on these pairs, up +85 Buying USDCAD, +90 Selling EURUSD, +130 Selling AUDJPY, +90 Buying GBPAUD.
Only losing basket this week was EURJPY for 80 Pips.

Then I have Scalping model B which is like your old version, buying or selling on pullbacks.
Scalping Model A is good because its 95% of times always in profit and makes safe money, Model B spends 95% of its time in draw down but makes better money, but takes some big hits.
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Trading thin liquidity at the boundary of the charts
  • #99,088
  • Nov 14, 2019 5:31am Nov 14, 2019 5:31am
Quoting RickM
{quote} Nice trades Emmanuel, here is how one of my Scalping trade manager works. I discarded the TDI & Stoc and just kept the 5EMA+3. Really its just the 10 EMA of course. Here I build it into my Scalping trade manager which takes a trade on every cross of the EMA provided its to the positive of the last trade. Its just so easy to make green pips this way but the secret is to keep your targets small, then re-enter. Here trade size is 0.02 because of the large amounts of EA's I run, I probably have 200-300 trades opened over many accounts. EA has...
hi rick
where is entry on trade 3? it doesnt looks like enter was when bar closed under 5 ema
it look like entry was after many bars closed under 5 ema
you say keep targets small and reenter
where is your target on audusd and where you would reenter?
  • #99,089
  • Nov 14, 2019 8:17am Nov 14, 2019 8:17am
Quoting forexdg
{quote} hi rick where is entry on trade 3? it doesnt looks like enter was when bar closed under 5 ema it look like entry was after many bars closed under 5 ema you say keep targets small and reenter where is your target on audusd and where you would reenter?
Hi Frexdg

Yes, I was too quick to draw that chart up, trade 3 was on the last set of lows.
This EA is design to hunt a set dollar amount, on trade size 0.02 its $60 ( stop loss $30 ), on trade size 0.05 its $160 ( Stop Loss $80 ).

It will shut down when it hits either target. I only re-enter at the start of the next day if PA looks like a nice bearish or bullish trend.
So I only need 15 minutes after Aussie open to select the pairs to trade by looking at the recent Day charts, then this EA work is done.

Trading with Algo's is best done by trading a portfolio of EA's that contain many many small size trades. We are trying to earn at least 100% per account per year of each EA which is NOT HARD. Some will fail of course, that's just the nature of this business.

Here is the Chart for the first four days on this EA, I changed a few things and restarted it on a new account. So in 4 days the account is up 4.2% and 808 pips in profit. My point is you do not have to trade 1 Lot size trades to make great money, just a handful of profitable EA's turning over thousands of pips per month and you have a $5K wage a month.

I have never met anyone who became rich trading Forex, some make a nice income ( If you have a great income already, forget this game ).
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Trading thin liquidity at the boundary of the charts
  • #99,090
  • Nov 14, 2019 8:33am Nov 14, 2019 8:33am
Actually, just for fun, I opened up a EA on trade explorer that is testing a model on DEMO that opens both a Buy & Sell at the same time then closes them when in profit at various sizes. It started back in September and to be honest, it isn't great.
The close- outs need changing and one pair GU loses half the profits

BUT - it is still making $1K a month - Somehow, bloody mystery really ( $3,000 and 11,000 pips Ha Ha)
My point here is it is not hard for a Algo to make money, just needs a trader to do the hard yards.

Check out BBH

Footnote - its on a $5K demo account but should really be run on a $20K account instead so may little attention to the draw down %. It was designed to close out at 20% on a $20K account.
Trading thin liquidity at the boundary of the charts
  • #99,091
  • Nov 14, 2019 9:13am Nov 14, 2019 9:13am
Quoting RickM
{quote} If you have a great income already, forget this game
Brilliant
  • #99,092
  • Nov 14, 2019 5:57pm Nov 14, 2019 5:57pm
Quoting RickM
{quote} Nice trades Emmanuel, here is how one of my Scalping trade manager works. I discarded the TDI & Stoc and just kept the 5EMA+3. Really its just the 10 EMA of course. Here I build it into my Scalping trade manager which takes a trade on every cross of the EMA provided its to the positive of the last trade. Its just so easy to make green pips this way but the secret is to keep your targets small, then re-enter. Here trade size is 0.02 because of the large amounts of EA's I run, I probably have 200-300 trades opened over many accounts. EA has...

Hi Rick

You are doing well with your Algo development. You know this game after all the years of hardwork put into this.

Dropping the custom indicator TDI is the best decision I made in 2017. Many traders still need to use only the common indicators provided in their platforms.

Over the past 5 years different members have moved on and have done their own variations of trading with MEME. One member in my group has developed another entry method purely based on price , not a single indicator being used.
Both your models A and B are sound and managing the account deposit margin levels is an important part of the money manager strategy.

Model B is very tough on the trader mental when they cannot handle the floating drawdown when they have many open positions/baskets and also traders are not used to trading the Daily and Weekly timeframes. The amount of their trading capital also need to be considered.
Allocating the trading capital into different account deposits is also an important part of the overall trading business strategy. Doing this has many advantages.

more...

Trade Well.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #99,093
  • Nov 14, 2019 6:08pm Nov 14, 2019 6:08pm
Quoting emmanuel7788
{quote} DE30 Nov 14 Tokyo Open market is open again and that pull back from 13136.7 looks even better. the HA candle changed colour but the HA body is very small. {image}

DE30 Nov 15 Tokyo Open

Looking at the Weekly and Daily now, the market type condition has changed but my rule is to wait until the Nov 15 Daily closed to confirm this.
Then this weekend's task is the same routine - to do the weekly top down analysis and update the Big Picture and prepare a new trading plan for next week. Repeat this for all the currency pairs/instruments I trade. This is a full time job task.

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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #99,094
  • Nov 15, 2019 4:42am Nov 15, 2019 4:42am
Quoting emmanuel7788
{quote} DE30 Nov 15 Tokyo Open Looking at the Weekly and Daily now, the market type condition has changed but my rule is to wait until the Nov 15 Daily closed to confirm this. Then this weekend's task is the same routine - to do the weekly top down analysis and update the Big Picture and prepare a new trading plan for next week. Repeat this for all the currency pairs/instruments I trade. This is a full time job task. {image}
Im waiting very much to see how you trade range market condition now because next week is not trending market condition any more
im very interested
Quoting RickM
{quote} Hi Frexdg Yes, I was too quick to draw that chart up, trade 3 was on the last set of lows. This EA is design to hunt a set dollar amount, on trade size 0.02 its $60 ( stop loss $30 ), on trade size 0.05 its $160 ( Stop Loss $80 ). It will shut down when it hits either target. I only re-enter at the start of the next day if PA looks like a nice bearish or bullish trend. So I only need 15 minutes after Aussie open to select the pairs to trade by looking at the recent Day charts, then this EA work is done. Trading with Algo's is best done by...
rick thank you
its interesting how this work
you target two time how much you risk and lets asume trade one in your chart stoped at 60 pips with profit
you look to open another one if daily is not closed? or you wait it to close and only in new day you look to open another position?
  • #99,095
  • Nov 15, 2019 8:12am Nov 15, 2019 8:12am
Quoting forexdg
{quote} Im waiting very much to see how you trade range market condition now because next week is not trending market condition any more im very interested {quote} rick thank you its interesting how this work you target two time how much you risk and lets asume trade one in your chart stoped at 60 pips with profit you look to open another one if daily is not closed? or you wait it to close and only in new day you look to open another position?
Hi Forexdg

I wait for a new day because major news events may change the Bias. I just check the candles after New York Closes for a new trade.
Also I wanted this EA to be a hands off model, just set my take profit and stop and DO NOTHING, let one me hit.
Its important to set your Take profit on Tick to capture any spikes moving in your favour and set the stop to candle close. This way we won't fall victim to those stop hunting spikes.
Trading thin liquidity at the boundary of the charts
  • #99,096
  • Nov 17, 2019 1:37am Nov 17, 2019 1:37am
Quoting forexdg
{quote} Im waiting very much to see how you trade range market condition now because next week is not trending market condition any more im very interested {quote} rick thank you its interesting how this work you target two time how much you risk and lets asume trade one in your chart stoped at 60 pips with profit you look to open another one if daily is not closed? or you wait it to close and only in new day you look to open another position?

Hi forexdg

You want to learn how to trade different market type conditions, first you can learn from Blessing 3 how it trade with averaging down.

Go to this thread and download the Blessing 3 v3.9.6.09 and run that using a demo account.
https://www.forexfactory.com/showthread.php?t=792598

Blessing 3 v3.9.6.09

Follow these two posts by the OP.
You can trade the 5-Method without the TDI and Stoch.
And trade only the Daily and Weekly charts.

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Study the manual posted in that thread.
Blessing Manual v3.7

Take your time and learn how Blessing 3 trades. I learn that in 18 months forward testing in live market before I went on and developed my own trading strategy and trade live with real money.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #99,097
  • Nov 17, 2019 2:22pm Nov 17, 2019 2:22pm
Quoting emmanuel7788
{quote} Hi forexdg You want to learn how to trade different market type conditions, first you can learn from Blessing 3 how it trade with averaging down. Go to this thread and download the Blessing 3 v3.9.6.09 and run that using a demo account. https://www.forexfactory.com/showthread.php?t=792598 Blessing 3 v3.9.6.09 Follow these two posts by the OP. You can trade the 5-Method without the TDI and Stoch. And trade only the Daily and Weekly charts. {image}...
Quoting RickM
{quote} Hi Forexdg I wait for a new day because major news events may change the Bias. I just check the candles after New York Closes for a new trade. Also I wanted this EA to be a hands off model, just set my take profit and stop and DO NOTHING, let one me hit. Its important to set your Take profit on Tick to capture any spikes moving in your favour and set the stop to candle close. This way we won't fall victim to those stop hunting spikes.
thank you emmanuel and rick
rick you go on m5 after daily bar cross the yellow 5ema alone or its not enough and you also need price action on daily, like audusd example? in that example the red daily bar was cross down 5ema and it was price action bar too
emmanuel you look to see price action bar and same color apb and apb with good body and this way tdi and stochastic its not good anymore?
emmanuel I need computer to be on always for blessing to work? if I cant whats the solution?
  • #99,098
  • Edited 5:02pm Nov 17, 2019 3:24pm | Edited 5:02pm
Quoting forexdg
{quote} {quote} thank you emmanuel and rick rick you go on m5 after daily bar cross the yellow 5ema alone or its not enough and you also need price action on daily, like audusd example? in that example the red daily bar was cross down 5ema and it was price action bar too emmanuel you look to see price action bar and same color apb and apb with good body and this way tdi and stochastic its not good anymore? emmanuel I need computer to be on always for blessing to work? if I cant whats the solution?
Hi Forexdg

Yes, I am looking for a sign price action has clearly broken away from a consolidation area and is moving away with momentum. Often the best signal is a good decent size candle that's has its wick hitting a liquidity zone then closing outside the recent consolidation box. For me its all about small targets, getting your money in the account before the market changes its mind. The best tip I can give is study the charts and look at previous days highs and lows swings because price wants to do one thing, attack the Liquidity zones outside the previous days highs or lows.

Lastly I have no idea whether AU is going up today but I will look to trade this pair long only if price crosses above the Daily 5EMA Shift 3 as well as the H1, M15 and the M5 and I like the price action. The recent large candles hints at a Reversal.
I only spend 15 minutes on this strategy a day.
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Trading thin liquidity at the boundary of the charts
  • #99,099
  • Nov 18, 2019 6:19pm Nov 18, 2019 6:19pm
DE30 Week 47 Nov 18 to 22

Nov 19 Tokyo Open

The Weekly bull rallly has ended when wk46 did not close with Higher Close .
The Weekly wk45 candle high-low is the current trading range until we see a breakout of its high or low.
Possible to buy or sell during this week with the wk45 low as support and wk45 high as resistance.
I prefer to buy with MEME and with my initial Stop Loss (R) below wk44 low and do my trades/basket position size. Will also reduce my %R when I trade in ranging market type condition.
Cut-Loss is when PA is move below wk45 low (12792.2)

Attached Image (click to enlarge)
Click to Enlarge Name: De30 Nov 19 Tokyo Open 19-11-2019 08-05-39.png Size: 75 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #99,100
  • Nov 18, 2019 6:37pm Nov 18, 2019 6:37pm
Quoting RickM
{quote} Hi Forexdg Yes, I am looking for a sign price action has clearly broken away from a consolidation area and is moving away with momentum. Often the best signal is a good decent size candle that's has its wick hitting a liquidity zone then closing outside the recent consolidation box. For me its all about small targets, getting your money in the account before the market changes its mind. The best tip I can give is study the charts and look at previous days highs and lows swings because price wants to do one thing, attack the Liquidity zones...

AUDUSD Week 47

On my Weekly, I see PA in a rising channel.

On Daily rising channel, there is room for further move lower to region 0.6750 and 0.6700 ... to cover the gray zone.

Buying now with MEME is more risky now... better wait for a REVERSAL setup plus when the PA is above its 5EMA.

Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD Week 47 D1 Big Picture 19-11-2019 08-30-20.png Size: 41 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
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