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Trading Made Simple(r)

  • #6,121
  • Sep 21, 2020 8:41am Sep 21, 2020 8:41am
Quoting noke8868
@emmanuel7788 Could you please let me know if you use buy/sel limit or market execution when you see the chance thank you
Hi noke8868

I use both limit and stop orders.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #6,122
  • Sep 21, 2020 8:44am Sep 21, 2020 8:44am
Quoting emmanuel7788
{quote} Hi noke8868 I use both limit and stop orders.
Thanks you so much for your prompt response, @emmanuel7788
  • #6,123
  • Sep 21, 2020 7:16pm Sep 21, 2020 7:16pm
Quoting Varkeer
As a naked chart price action trader, it's always interesting to see all the other things people can use to trade for similar results.

all the clothes we wear over our body but the inside remains the same what we were all born in... naked.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #6,124
  • Sep 21, 2020 7:24pm Sep 21, 2020 7:24pm
Quoting emmanuel7788
{quote} Hi Jonhathan When trading the H4, my approach is the same. Look at Weekly and to see if the market is trending and what the range of the weekly high-low. For example, we look at AUDUSD and decide if we can trade H4 next week. Weekly chart: This part has been trending and you can follow using RH template#1. The Weekly candles above the HMA(12) is good but once we see the candles getting small and closing inside the HMA(12) and 5EMA, starts to make trading H4 difficult. We see Weekly has one big candle high-low and few candle within its high-low....
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD H4 Sep 18 closed 20-9-2020 8-09-36 pm.png Size: 62 KB


AUDUSD Sep 22 H4 Update:

yesterday was a good day and market fell to the region below.

but today is a new day, if US market is weak and USD weakens, then AU can rally back up to 7280 and 7300 region. Watch the 3 amigos EURUSD, GBPUSD and AUDUSD closely.

Use template#1 in Post#1


Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD Sep 22 H4 22-9-2020 8-17-52 am.png Size: 57 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #6,125
  • Sep 21, 2020 8:14pm Sep 21, 2020 8:14pm
Quoting emmanuel7788
{quote} {image} AUDUSD Sep 22 H4 Update: yesterday was a good day and market fell to the region below. but today is a new day, if US market is weak and USD weakens, then AU can rally back up to 7280 and 7300 region. Watch the 3 amigos EURUSD, GBPUSD and AUDUSD closely. Use template#1 in Post#1 {image}
Yesterday I buy on AU's H4 and expected it to go up to the week's high but as you said it fell terribly and scanned the SL. Today I am still waiting for the AUDNZD pair and the recovery of AUDUSD.
  • #6,126
  • Sep 22, 2020 2:20am Sep 22, 2020 2:20am
Quoting Jonhathan123
{quote} Yesterday I buy on AU's H4 and expected it to go up to the week's high but as you said it fell terribly and scanned the SL. Today I am still waiting for the AUDNZD pair and the recovery of AUDUSD.

Today we sell since it broke the lows yesterday

AUDUSD Sep 22 H4

Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD Sep 22 H4 sell 22-9-2020 3-17-29 pm.png Size: 57 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #6,127
  • Sep 22, 2020 2:32am Sep 22, 2020 2:32am
GBPUSD Sep 21 and 22 H4 sell

- hope this will inspire some of you to work hard at trading

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD Sep 22 sell 22-9-2020 3-30-56 pm.png Size: 59 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #6,128
  • Sep 22, 2020 2:56am Sep 22, 2020 2:56am
Quoting emmanuel7788
Trading Forex Baskets Some of you already know this but for those who do not, you can read more about Forex Basket here: https://www.fxcm.com/markets/forex-baskets/ I took two trades today - JPY basket and USD basket {image}
Attached Image (click to enlarge)
Click to Enlarge Name: JPY Basket Sep 21 closed 21-9-2020 8-51-01 pm.png Size: 49 KB


JPYBasket trading Sep22

yesterday I closed one batch of 6 trades/basket and re-open a new batch and now running up.

will close these soon and look for another entry for a new batch.

Attached Image (click to enlarge)
Click to Enlarge Name: JPY BAs ket Sep22 22-9-2020 3-52-16 pm.png Size: 50 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #6,129
  • Sep 22, 2020 3:24am Sep 22, 2020 3:24am
EURUSD Sep 22 H4

- closing sell for +100 pips

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD Sep 22 sell closing 100pips 22-9-2020 4-22-28 pm.png Size: 55 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #6,130
  • Sep 22, 2020 6:45am Sep 22, 2020 6:45am
Quoting emmanuel7788
{quote} {image} JPYBasket trading Sep22 yesterday I closed one batch of 6 trades/basket and re-open a new batch and now running up. will close these soon and look for another entry for a new batch. {image}
Hello emmanuel7788
When you think it's time to add more to the position, do you use lower time frame such 1hour or 30mins template#1 to do that?
thank you
  • #6,131
  • Sep 22, 2020 2:58pm Sep 22, 2020 2:58pm
Quoting emmanuel7788
Trading Forex Baskets Some of you already know this but for those who do not, you can read more about Forex Basket here: https://www.fxcm.com/markets/forex-baskets/ I took two trades today - JPY basket and USD basket {image}
USDollar basket Sep22

- closing soon and re-starting a new batch run into tomorrow
Attached Image (click to enlarge)
Click to Enlarge Name: USDollar Sep 22 trades open 23-9-2020 3-52-01 am.png Size: 51 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #6,132
  • Sep 22, 2020 3:18pm Sep 22, 2020 3:18pm
Quoting noke8868
{quote} Hello emmanuel7788 When you think it's time to add more to the position, do you use lower time frame such 1hour or 30mins template#1 to do that? thank you

Hello noke8868

Good question. It is about scaling-in positions and also scaling-out positions, ... both ways.

It is a risk management question. We need to consider the overall risk when we do scaling.
If you have traded with scaling it would be easy to work out a plan.
If not, then read up here to have some basic understanding about scaling :
https://www.babypips.com/learn/forex/what-is-scaling

There are other online resources on this subject, some are more complex with position building, averaging-down and averaging-up, risk sizing, position sizing, etc.

I would add on more positions, as the market moves in my favour and I would lock the positions already in profit as I add-on. Adding one can be done in lower timeframes what is available M5 is my favourite timeframe to use at the moment and I space out the positions using a maximum risk amount per batch/basket.
When to add depends on the timeframe duration of the trade and the market conditions. For example USDollar basket, I started trading H4 swing yesterday then it move nicely in Daily therefore I add-on to the new swing on the Daily today. The next higher TF would be the Weekly, but the retracements/corrections in Weekly can cause floating drawdown in your account so this need special attention to the market volatility.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #6,133
  • Sep 22, 2020 4:38pm Sep 22, 2020 4:38pm
Today look like a good trading day...

EMBasket Sep 23 Sydney Open sell

- use %risk money per batch/basket
- do Position Sizing

Attached Image (click to enlarge)
Click to Enlarge Name: EMBasket sell Sep 23 D1 23-9-2020 5-35-27 am.png Size: 52 KB

What is EMBakset:
here: https://www.fxcm.com/markets/forex-baskets/
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #6,134
  • Sep 22, 2020 5:05pm Sep 22, 2020 5:05pm
Quoting emmanuel7788
{quote} Hi Alan AUDNZD D1 trading next Week 39 Sep 21 to 25 I start my weekly top down analysis by updating my MN chart and see if there are new historical swing levels which I will trade on my Daily chart. Chart 1 Daily Big Picture {image} Then I look at the TMS(r) Weekly chart to see the weekly closed on Friday Sep 18. I see a strong breakout of the Weekly High-Low TMS(r) chart Weekly {image} next TMS(r) Daily with the Weekly breakout, D1 shows lower high lower low with lower Close on Friday, but wait for New York Sunday 5PM open and check the...

AUDNZD Sep 23 D1

- time to re-look at this pair and plan your trade.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #6,135
  • Sep 22, 2020 8:01pm Sep 22, 2020 8:01pm
NZDUSD Sep 23 D1 trades

- RBNZD rate announcement in about 60 minutes

- take the money before that event and start a new batch/basket

- if it runs down, I do scaling-in more positions

Attached Image (click to enlarge)
Click to Enlarge Name: NZDUSD Sep 23 D1 RBZ 23-9-2020 8-56-59 am.png Size: 54 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #6,136
  • Sep 22, 2020 8:07pm Sep 22, 2020 8:07pm
Quoting emmanuel7788
{quote} AUDNZD Sep 23 D1 - time to re-look at this pair and plan your trade.
AUDNZD Sep 23 H4

- sell batch/basket open

Attached Image (click to enlarge)
Click to Enlarge Name: AUDNZD Sep 23 H4 sell 23-9-2020 9-05-41 am.png Size: 61 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #6,137
  • Edited 2:06am Sep 23, 2020 1:49am | Edited 2:06am
Great to see the thread active once again.... thanks to all for their contributions.

Last couple of days I've received messages asking why I've been so quiet and also about perhaps setting up a means for interested parties to share Dax setups that come along which I think might be useful for us de30/Dax traders

I've been very concentrated devoting 100% of my time to developing a strategy for the DAX index a means of trading the varying market conditions and characteristics that the asset has from day to day; a means of trading its reversals where minimal 10 - 12pips are required for the SL but the R:R starts anywhere from x3 to x12 and the trading system may be applied statically.

A valid signal ensures that one opens the trade right before the asset is about to move in the prevailing forces direction, based purely on the position of the indicators, again the position of the indicators warn you when not to enter.

Attached are my results from yesterday where I managed almost 47%my trading equity of my live account, needless to say I will need to test it over a couple weeks and tweak it , but once complete I will share the idea for any interested parties to look at...

Green pips to all, have a great day,.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 159 KB
The more you learn, the more you see
  • #6,138
  • Sep 23, 2020 2:36am Sep 23, 2020 2:36am
Quoting Marcusv007
Great to see the thread active once again.... thanks to all for their contributions. Last couple of days I've received messages asking why I've been so quiet and also about perhaps setting up a means for interested parties to share Dax setups that come along which I think might be useful for us de30/Dax traders I've been very concentrated devoting 100% of my time to developing a strategy for the DAX index a means of trading the varying market conditions and characteristics that the asset has from day to day; a means of trading its reversals where...

Great Marcus, thank you for your DAX contribution. I'm very curious when you have the final results and trading rules.

Cheers
  • #6,139
  • Sep 23, 2020 2:42am Sep 23, 2020 2:42am
Quoting emmanuel7788
{quote} AUDNZD Sep 23 D1 - time to re-look at this pair and plan your trade.
Reached my TP for +56 pips
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 31 KB
  • #6,140
  • Sep 23, 2020 6:48am Sep 23, 2020 6:48am
Quoting 40PipsAlan
{quote} Reached my TP for +56 pips {image}
Hi,

Are you using an indicator to show the arrows and lines drawn on the chart of previous trades? If so, could you let me know the name please.

Thanks
B
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