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Trading Made Simple the right way, and other trading lessons 324 replies

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Attachments: Trading Made Simple
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Trading Made Simple

DrDave gave advice to go for 10 pips a day.
It changed the way how I traded. Always trying to get the maximum profit from each trade, from TDI crossover to TDI crossover.
Now when members post I made xxx pips today or all my trades I closed for xxx profit.

Can only ask: What's the big deal?
So easy to fill that wheelbarrow with pips.

It is what you do with that xxxx pips profit.
- Do you increase the lot size as the account grows?
- Like for every 1000 pips profit the lot size increase by 0.01? (Compound)
- Reduce lot size after a loss of 250 pips?
- Reduce lot size after withdrawal from account?
Attached File(s)
File Type: mq4 Summary.mq4   19 KB | 157 downloads

Money Management is never discussed in this thread. Maybe it is a good thing there are many webpage dedicated to MM.
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Now waiting for New York open for some more pips.
Quoting Loker921
{quote} Honestly , i still dont really get it for the 21/233 method . Do you mind to do some further explanation or show more example ? Although I had read through this post last week , but whats make the confirmation to let the OP enter the trade and exit . When trading live account the emotional is there and when you are in a stressful environment you tends to make bad or wrong decision . Furthermore , why BigE exit the trade on that particular moment ? For me i think i will exit on the same trade as the TDI . Because there is 2 red HA bar and...

Big E did not always exit his trades based on the TDI. When he risked 15% to 30% of his $10k account, he has his discretionary exit which is conservative.

His trading style is aggressive entry, conservative exit.

21/233 Method is another of his trading methods and we do not discuss that in this thread. All I want to say is 21/233 Method is also price action trading based on his posts in his old thread.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
Post 99,895 : > Price does not take trade into profit with in 15min get out.
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Quoting Loker921
{quote} So Tekkies , your TDI Vline RG is there any difference from the post #25 or just only different name itself ? Correct me if i am wrong . Cheers

When you talk about the TDI version in Post#25, you must also know that all the TDI version posted both threads repaints to some degree.

The TDI#25 repaints "big time" much worst that what this youtube video highlighted.

Inserted Video


but the repainting of the TDI #25 green line was not a problem to Big E because he look at the price action of the HA candle and the 5EMA.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
Quoting emmanuel7788
EURCAD Week 04 this week's trades, do not be afraid to trade the Daily and Weekly chart timeframes, less time spend during the day and definitely more profitable but with fewer trade setups and opportunities. learn and look for low risk trading ideas and use proven money management strategy and fill your wheel barrow with pips ... LOL. {image} see these old posts examples by the OP Big E, Daily trade charts examples #357 https://www.forexfactory.com/showthr...50#post4577150 #283 https://www.forexfactory.com/showthr...96#post4576096...

EURCAD Week 04

closed my batch of trades today .

not bad for $2517 profit and 156 pips total and trading once a day.
that is average $161 for every 10 pips...

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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
Always pick only the best setup.... aka A+++ setups.

Do not be hasty and jump in when the candle still active, wait for the candle to close and confirm the price action with momentum.

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THE MARKET will pay and reward you to be DISCIPLINED.... Rule#1 and #2.

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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
GBPUSD Week 04 Jan 22

trading only the Weekly and Daily

another batch running nicely and taking profits soon...

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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
XAUUSD Week04 Jan 22 Weekly

someone asked me via PM, so here is my Weekly chart.

what do you see? one big bar/candle and after that small bars/candle.

a momentum high and it failed to close high and pulled back.

we have a Weekly WRB and also a WCC... market type conditions is sideways and narrow ranged for second week now.

swing and position trading must wait!

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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
NASDAQ ENQH20

waiting for NY Open soon ...

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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
Quoting emmanuel7788
{quote} EURCAD Week 04 closed my batch of trades today . not bad for $2517 profit and 156 pips total and trading once a day. that is average $161 for every 10 pips... {image}
18 trades in 3 days, trading once a day? Forgive me if I'm the only one confused by that post.
Success means going from failure to failure without loss of enthusiasm
Quoting lisat
{quote}18 trades in 3 days, trading once a day? Forgive me if I'm the only one confused by that post.

yes, that is correct. 18 trades in 3 trading days Jan 20 to 22.

trading the Daily and Weekly chart timeframe means that I only need to check my charts once a day, anytime of the day as I have time for many other better things in life. The number of trades placed has nothing to do with the chart timeframes I trade. Once I have done my top down analysis on the weekend and decide on the market type conditions, I will then decide to buy or sell. My trading is automated using M5 / M15 for multiple entries. I no longer spend my time in front of my computer every 5 mins, every 15 minutes , etc. looking for an indicator cross to place my multiple entries.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
Quoting emmanuel7788
USDCAD Jan 22 H1 ... nice swing! if you missed the last H1 reversal / setup candle then the only thing left to do is WAIT for the next setup. simple basic rules: - sell when HA candle close below 5EMA,Typical Price,Shift+3 - buy when HA candle close above 5EMA,Typical Price,Shift+3 - the 5EMA,Typical Price,Shift+3 is for direction of the price and its price action. {image}
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USDCAD ... WOW a big dipper!

hope you caught that.

its too late on H1 but what about H4?


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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
Quoting emmanuel7788
{quote} {image} USDCAD ... WOW a big dipper! hope you caught that. its too late on H1 but what about H4? {image}
Hi emm, good to see you posting quality stuff again...

imho, anyway UC structure is down, at the moment PA is around WCC high, MN close a breakout down from MNCC and below 5emas3, W1 WCC and below 5emas3, D1 is above 5emas3, H4 closing below 5emas3 is actually a good first position for multiple entry in a build phase, however D1 is in consolidation, maybe best is to wait for D1 to close as BEOB, even better is if it also breaks and close below the consolidation... yup, that depends on how conservative we are..
Quoting emmanuel7788
{quote} When you talk about the TDI version in Post#25, you must also know that all the TDI version posted both threads repaints to some degree. The TDI#25 repaints "big time" much worst that what this youtube video highlighted. https://www.youtube.com/watch?v=EDuzcUStPgQ&t=949s but the repainting of the TDI #25 green line was not a problem to Big E because he look at the price action of the HA candle and the 5EMA.
Yes i do know they all repaint . So actually what are your suggestion for TDI ? We should use BigE TDI post#25 or TDI RT ? One more question, why we still using when it repaint big time ?
Quoting Loker921
{quote} Yes i do know they all repaint . So actually what are your suggestion for TDI ? We should use BigE TDI post#25 or TDI RT ? One more question, why we still using when it repaint big time ?
Try to follow BigE's advice.
#1388- I don't refresh my TDI... just trade it like I see it...
#1827 - I don't refresh my charts while trading... creates more confusion I think...
#7622 - Do I refresh my TDI – NO
Quoting Loker921
{quote} Yes i do know they all repaint . So actually what are your suggestion for TDI ? We should use BigE TDI post#25 or TDI RT ? One more question, why we still using when it repaint big time ?
https://www.mql5.com/en/forum/198515
I just finished to read all BigE post about this topic (117 pages pdf)

little late about the entry, but guessing if can consider it a bounce?

chart with entry and exit.

any feedback will be appreciated because I’m studying charts and demo.
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Also did an enter on this trade (tdi reaching 68) so I monitoriced the operation each 10 min. Exit when tdi went flat
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Daily chart. Enter yesterday:
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Quoting moRTaL
{quote} Hi emm, good to see you posting quality stuff again... imho, anyway UC structure is down, at the moment PA is around WCC high, MN close a breakout down from MNCC and below 5emas3, W1 WCC and below 5emas3, D1 is above 5emas3, H4 closing below 5emas3 is actually a good first position for multiple entry in a build phase, however D1 is in consolidation, maybe best is to wait for D1 to close as BEOB, even better is if it also breaks and close below the consolidation... yup, that depends on how conservative we are..
Hi moRTal

that last Weekly swing ended with a WCC but that was not a WRB.

Tuesday Jan 21 Daily was a trigger for buy ahead of the BoC Rate announcement this week.

Many H1 and H4 sellers got caught ...

just read your PM and will reply later...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
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