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

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Trading Made Simple(r)

  • #4,741
  • Apr 17, 2020 11:59am Apr 17, 2020 11:59am
Quoting Jonhathan123
{quote} Thanks for your advice! It helped me to realize that a low timeframe like M15 would give me pips very quickly but it would also take away very quickly the number of pips it gave. Maybe I'm not suited for scalping I will practice on higher time frames.
You could always try using a profit target like 10-15-20 pips and when it hits, you exit. Do that every day with enough size and you'll be smiling all the way to the bank.
Always a Student, Never a Master - Emulate What Works
  • #4,742
  • Edited 12:49pm Apr 17, 2020 12:09pm | Edited 12:49pm
Quoting krismitt
{quote} Smile. If oil is going lower (which is clearly probable from the two charts I have posted) my eyes are "popping" at the thought of Oil at or below $10.00/barrel (I hear some are already bidding $0.00, as storage facilities are full and overflowing, with supply exceeding demand!.) If I were trading Oil, I would be looking for a target price of circa $10.92 in the first instance. {image} Cheers.
Hi boss, can u share the fib indi with negative numbers please. Not to worry I have sussed it myself. Edited the fib properties
  • #4,743
  • Apr 17, 2020 12:35pm Apr 17, 2020 12:35pm
Quoting RobinHood
{quote} You could always try using a profit target like 10-15-20 pips and when it hits, you exit. Do that every day with enough size and you'll be smiling all the way to the bank.
I must confess that I am smiling at your sharing method. During 3 years of forex trading, today I have seen a green account, no longer red with 60% and R: R 1: 2 ratio. Once again thanks for your sharing I will implement the discipline methodically
  • #4,744
  • Apr 17, 2020 2:55pm Apr 17, 2020 2:55pm
Quoting Jonhathan123
{quote} I must confess that I am smiling at your sharing method. During 3 years of forex trading, today I have seen a green account, no longer red with 60% and R: R 1: 2 ratio. Once again thanks for your sharing I will implement the discipline methodically
You are welcome! I am really happy to know that it's working for you. Keep it up!
Always a Student, Never a Master - Emulate What Works
  • #4,745
  • Apr 17, 2020 5:45pm Apr 17, 2020 5:45pm
Quoting 40PipsAlan
{quote} Hi boss, can u share the fib indi with negative numbers please. Not to worry I have sussed it myself. Edited the fib properties
Hey Partner....trusting yo are good and well?.

Glad you got it figured out

Regards.
  • #4,746
  • Apr 17, 2020 8:22pm Apr 17, 2020 8:22pm
Quote
RobinHood

Hello RobinHood.

I don't see if anyone asked you or not but

Do you use default settings for TMMS Oscillator v4.0 or somewhat different?

Thanks!
Go big or go home
  • #4,747
  • Apr 18, 2020 2:16am Apr 18, 2020 2:16am
Quoting krismitt
OIL Now look at both the D1 and H4 Charts...! H4 {image} D1 {image} Disclaimer: I do not trade oil, just looking at the correlation between the two Time-frames (and what this COULD mean for the commodity). Trade well.
I was very tempted to put a short on this one after your analysis, maybe next week.
Just wondering if a commodity can go below zero?
  • #4,748
  • Apr 18, 2020 4:08am Apr 18, 2020 4:08am
Quoting 40PipsAlan
{quote} I was very tempted to put a short on this one after your analysis, maybe next week. Just wondering if a commodity can go below zero?
Check this out

https://www.bloomberg.com/news/artic...egative-prices

Trade well.
  • #4,749
  • Apr 18, 2020 6:11am Apr 18, 2020 6:11am
Quoting Deminsib
{quote} Hello RobinHood. I don't see if anyone asked you or not but Do you use default settings for TMMS Oscillator v4.0 or somewhat different? Thanks!
I use the default settings. But, I do change the green dots to blue, and I increase the width of the Slate Gray Line so I can see both of them better.
Always a Student, Never a Master - Emulate What Works
  • #4,750
  • Apr 18, 2020 6:32am Apr 18, 2020 6:32am
When the graph is reduced, MACD changes the value. This is worth considering!

Attached Image (click to enlarge)
Click to Enlarge Name: XAUUSDH4.png Size: 53 KB

Attached Image (click to enlarge)
Click to Enlarge Name: XAUUSDH4_2.png Size: 59 KB
  • #4,751
  • Apr 18, 2020 6:58am Apr 18, 2020 6:58am
Quoting RobinHood
{quote} 1. Download these and install them into your Indicators folder: {file} {file} 2. Close MT4 and restart it. 3. Open the Navigator (push Ctrl + N) 4. Click on the MACD True indicator and DRAG it over and on top of the smTMMS indicator. 5. Change the MACD True Color settings to what you see below (OR just use the Template below the image): {image} Here is the current Template that I use. I call it: # 4 {file}

Usually, you can avoid restarting MT4 "2. Close MT4 and restart it." by right-clicking in the navigator window and select refresh and Mq4 files will compile and they and ex4 files that were not available will appear.
  • #4,752
  • Edited 10:23am Apr 18, 2020 7:03am | Edited 10:23am
Quoting Skyfinger
When the graph is reduced, MACD changes the value. This is worth considering! {image} {image}
This is absolutely true but it does not repaint. It only changes if you enlarge or compress a chart. If you don't do that, the MACD line does not change. If you are going to use it, I would suggest finding your favorite chart compression size and never changing it while you are trading. I personally enlarge the chart all the way, and then shrink it down one size by clicking the Zoom Out button (the minus magnifying glass) once.

I only use it on Daily charts. I never enlarge or compress my Daily trading charts while I am trading, and I primarily only use it for Exits.


EDIT: I may be wrong about the MACD Line not moving. I am looking at a Daily chart right now, where it does appear to move without changing the compression of the chart. But on another chart it isn't moving. I will investigate further to see what the difference is.
Always a Student, Never a Master - Emulate What Works
  • #4,753
  • Apr 18, 2020 7:06am Apr 18, 2020 7:06am
Quoting Fourxxxx
{quote} Usually, you can avoid restarting MT4 "2. Close MT4 and restart it." by right-clicking in the navigator window and select refresh and Mq4 files will compile and they and ex4 files that were not available will appear.
Ahh, I never knew this! All these years other traders have always said to close and restart MT4 so that's the only way I knew to do it. And personally, I always thought it was stupid to have to do it.
Always a Student, Never a Master - Emulate What Works
  • #4,754
  • Apr 18, 2020 7:15am Apr 18, 2020 7:15am
Quoting RobinHood
{quote} Ahh, I never knew this! All these years other traders have always said to close and restart MT4 so that's the only way I knew to do it. And personally, I always thought it was stupid to have to do it.
Who said you can't teach an old dog new tricks, happy to help, Just running some strategy tests on your system now and it is looking very good.
  • #4,755
  • Apr 18, 2020 8:41am Apr 18, 2020 8:41am
Quoting Nonip
USDJPY trade. Was a bounce trade. I feel a little comfy entering bounce trades. Feedback on entry would be really welcomed, entered at the vertical purple line. {image}
Hi Nonip, could you share your indicators and Template ?

Thank you
  • #4,756
  • Apr 18, 2020 10:02am Apr 18, 2020 10:02am
Quoting RobinHood
{quote} There are so many combinations that YOU can use these indicators to decide what to base your entries (and exits) on that I don't want to sway you with my opinions. I am not trying to avoid answering your questions, it's just that I don't have all the answers, because there are no concrete answers. You have to figure out which of these methods work for you, if any. I am just mainly trying to provide some really good visual tools to help in the decision making process. Remember these are trading methods, not systems, and only you can decide...
Why is this under "trading systems"? don't mean to be rude, i am just looking for a simple trading system that i can implement to my daily trading. Help me
  • #4,757
  • Apr 18, 2020 11:25am Apr 18, 2020 11:25am
Quoting T-Rex491
{quote} Why is this under "trading systems"? don't mean to be rude, i am just looking for a simple trading system that i can implement to my daily trading. Help me
Hold on a minute, I've got to go find a spoon.
Always a Student, Never a Master - Emulate What Works
  • #4,758
  • Apr 18, 2020 3:11pm Apr 18, 2020 3:11pm
Quoting T-Rex491
{quote} Why is this under "trading systems"? don't mean to be rude, i am just looking for a simple trading system that i can implement to my daily trading. Help me
How about this one?

https://www.forexfactory.com/showthread.php?t=989445
Always a Student, Never a Master - Emulate What Works
  • #4,759
  • Apr 18, 2020 11:45pm Apr 18, 2020 11:45pm
Quoting RobinHood
{quote} I use the default settings. But, I do change the green dots to blue, and I increase the width of the Slate Gray Line so I can see both of them better.
Thank you!
Go big or go home
  • #4,760
  • Apr 19, 2020 8:02am Apr 19, 2020 8:02am
Quoting Tracy58
{quote} Hi Nonip, could you share your indicators and Template ? Thank you
Hi Tracy58,

The indicators I use and the settings are as provided by RH on page 1 (with exception of the TMMS version 4 and MACD of course). The only addition is the TMS Angleator,some tool I picked from a thread related with TMS (Can't remember the name). But I think I should add that I use it exclusively to determine current price direction/trend on other time-frames,especially the lower ones when i want to make an entry. (saves me the trouble of switching from time frame to time-frame). RH always emphasizes the importance of entering a trade when the momentum is on your side. That's all.
The other one is the i-profittracker. I use it to see my general performance (profits or losses) in terms of daily,weekly,monthly and even yearly. I will upload these two that cannot be found anywhere on this thread and my template. Hope those will help.
Attached File(s)
File Type: ex4 TMS_Angleator.ex4   114 KB | 437 downloads
File Type: ex4 i-Profittracker.ex4   23 KB | 380 downloads
File Type: tpl TMS(r).tpl   60 KB | 356 downloads
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