Trading Made Simple(r) | Page 308 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Trading Made Simple 151,881 replies

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

Indicators for the 'Trading Made Simple' system 343 replies

MTF Indicators for the 'Trading Made Simple' system 241 replies

Trading Made Simple system follower - Thanks to eelfranz 9 replies

Attachments: Trading Made Simple(r)
Exit Attachments

Trading Made Simple(r)

  • #6,141
  • Sep 23, 2020 6:50am Sep 23, 2020 6:50am
Quoting Brinet16
{quote} 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
easy one.
Drag the trade from the account history in your terminal window onto the chart.
  • #6,142
  • Sep 23, 2020 7:22am Sep 23, 2020 7:22am
GJ short closed for +137 pips.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 43 KB
  • #6,143
  • Sep 23, 2020 10:55am Sep 23, 2020 10:55am
Quoting Marcusv007
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,. {image}
Very impressive, I'll wait for your "finalized" method,... Do you only trade DAX?..
Thank You
"Great Men are not born great, They Grow Great."
  • #6,144
  • Sep 23, 2020 6:50pm Sep 23, 2020 6:50pm
Sep 24 Daily chart trading - Open positions

taken some profitable positions and kept some open to run today.

Attached Image (click to enlarge)
Click to Enlarge Name: EMBakset open pos 24-9-2020 7-46-19 am.png Size: 54 KB


Attached Image (click to enlarge)
Click to Enlarge Name: JPYBasket Sep 24 open pos 24-9-2020 7-45-07 am.png Size: 58 KB

Attached Image (click to enlarge)
Click to Enlarge Name: USDDollar Sep 24 open pos 24-9-2020 7-45-42 am.png Size: 48 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #6,145
  • Sep 23, 2020 7:03pm Sep 23, 2020 7:03pm
Quoting 40PipsAlan
GJ short closed for +137 pips. {image}
very good trade!

with that 137 pips move down,

you can make 2 to 3 times that amount of pips by scaling-in with add-on positions
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #6,146
  • Sep 23, 2020 7:08pm Sep 23, 2020 7:08pm
Quoting 40PipsAlan
{quote} Reached my TP for +56 pips {image}
nice to have profit.

but why do you open sell position after a bullish APB+HA candle unless you are following the higher TF ...

and have plan to average down to build up a sell trade basket of 2 to 5 positions in one sell basket.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #6,147
  • Sep 23, 2020 7:20pm Sep 23, 2020 7:20pm
Quoting 40PipsAlan
{quote} Reached my TP for +56 pips {image}

Hi Alan

Here my AUDNZD D1 trades,

now one sell basket open with 5 positions, SL and TP remains and I manage this basket with its average entry (1.07877) price of 5 open positions.

floating loss -75pips but I don't sweat about this minus pips ... why?

Attached Image (click to enlarge)
Click to Enlarge Name: AUDNZD Sep 24 D1 update 24-9-2020 8-15-47 am.png Size: 53 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #6,148
  • Sep 24, 2020 2:53am Sep 24, 2020 2:53am
Quoting MyProfit
{quote} Very impressive, I'll wait for your "finalized" method,... Do you only trade DAX?.. Thank You
Thank you,

Yes, only Dax.... for the time being! Such Volatility I'm sure you've noticed it can shift 100pips in 10mins or even for example 300 - 500pips over 30mins to an hour ...its a wild German horse

The reason behind the one asset: study the asset and determine a means of recognizing when to trade only moves "that have the prevailing force behind them" before they happen and hold them for their entirety or at least in the stages of momentum so as to lock in profit at/before (the fib level retracements).

Anything else, other than the met conditions of a "perfect setup" I've learnt not to trade its just not worth it. (visually it is very easy to see the met conditions and otherwise)

@Alan; On a good note the method can be traded on the 4 hour chart...
The more you learn, the more you see
  • #6,149
  • Sep 24, 2020 3:00am Sep 24, 2020 3:00am
Quoting emmanuel7788
{quote} nice to have profit. but why do you open sell position after a bullish APB+HA candle unless you are following the higher TF ... and have plan to average down to build up a sell trade basket of 2 to 5 positions in one sell basket.
Hi Emm
All good info for us.
I am trying to follow WTDA as per your posts and I see you went short a while after. The pair then started pulling back and I figured it was going to turn around at the H4 middle BB which it did for a short time so I went short. Unlucky for me it decided to go up a bit more before turning round again. I saw a red candle on H1 so that was where I put the short on. My entry points still need more patience but I am working on it.

Scaling in will probably need to be done at a future point when we are full time traders. Is bad enough checking the H4 candle close with a full time job.
  • #6,150
  • Sep 24, 2020 3:01am Sep 24, 2020 3:01am
Quoting Marcusv007
{quote} Thank you, Yes, only Dax.... for the time being! Such Volatility I'm sure you've noticed it can shift 100pips in 10mins or even for example 300 - 500pips over 30mins to an hour ...its a wild German horse The reason behind the one asset: study the asset and determine a means of recognizing when to trade only moves "that have the prevailing force behind them" before they happen and hold them for their entirety or at least in the stages of momentum so as to lock in profit at/before (the fib level retracements). Anything else, other...
Good stuff boss, waiting in anticipation for the details
  • #6,151
  • Sep 24, 2020 3:09am Sep 24, 2020 3:09am
Quoting emmanuel7788
{quote} Hi Alan Here my AUDNZD D1 trades, now one sell basket open with 5 positions, SL and TP remains and I manage this basket with its average entry (1.07877) price of 5 open positions. floating loss -75pips but I don't sweat about this minus pips ... why? {image}
I have no answer Emm probably because I dont understand the question regarding averaging in positions. -75 pips would worry me.
Maybe total basket profits will outweigh the -75?
I will need to read up on it.
  • #6,152
  • Sep 24, 2020 4:02am Sep 24, 2020 4:02am
Quoting emmanuel7788
{quote} Hi Alan Here my AUDNZD D1 trades, now one sell basket open with 5 positions, SL and TP remains and I manage this basket with its average entry (1.07877) price of 5 open positions. floating loss -75pips but I don't sweat about this minus pips ... why? {image}
hI emmanuel ... do you place all 5 positions at the same time ...i.e both sell limits and sell stops .. how your averaging has an edge?
  • #6,153
  • Sep 24, 2020 4:30am Sep 24, 2020 4:30am
EURUSD Sep 24 D1 trades

- EU has been ranging in sideways market type conditions
- hitting the low of the Weekly WCC Low
- closing some soon and bank-in the profit

- will pay attention if the price bounce off the low near 1.1650
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD Sep 24 D1 trades clsoing soon 24-9-2020 5-26-40 pm.png Size: 55 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #6,154
  • Sep 24, 2020 5:53am Sep 24, 2020 5:53am
Hi all,

Great to see this thread is still active. I was making some headway back in April (after reading the entire thread) but unfortunately had to take a break due to a new project at work as I work FT. Have now caught up on all posts since then - looks like indicators have moved on slightly and some have shared learnings to take into account.

Does anyone have an updated template they could share please possibly with a screenshot of indicators from Charts > Indicators List in MT4 so I know which indicators to download on my side?

My last setup was based on RH's template #7 based on smTMMS Osc 7.1.

Thanks in advance and keep up the good work.
  • #6,155
  • Sep 24, 2020 6:44am Sep 24, 2020 6:44am
Quoting Vivi-l
{quote} hI emmanuel ... do you place all 5 positions at the same time ...i.e both sell limits and sell stops .. how your averaging has an edge?

Hi Vivi-I

I don't place all 5 positions at once. I can but I only place one stop and one limit order when I initiate the first market order.

Averaging is not necessary an edge. My system trading strategy is to leverage on trading multiple pairs in a pool of currencies. I trade several pairs as a pool in the same trading account. For each selected pair, I trade a basket of 5 positions each time and manage each basket with its average entry price. I can have 2 to 3 baskets open in the same pair when the market trends and each basket must be managed with locked profit.

Money Management and Risk Management are bot very important and requires experience.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #6,156
  • Sep 24, 2020 6:54am Sep 24, 2020 6:54am
Quoting 40PipsAlan
{quote} Hi Emm All good info for us. I am trying to follow WTDA as per your posts and I see you went short a while after. The pair then started pulling back and I figured it was going to turn around at the H4 middle BB which it did for a short time so I went short. Unlucky for me it decided to go up a bit more before turning round again. I saw a red candle on H1 so that was where I put the short on. My entry points still need more patience but I am working on it. Scaling in will probably need to be done at a future point when we are full...

Hi Alan

I know it is not easy when you have a full time job.

I am retired and have 24 hours to trade but I don't trade 20 hours. I sleep minimum 6 hours and I can monitor my charts once every 4 hours when I am awake. It is during this pandemic that I am at home more and have the time to day trade and scalp M15 too.
But most of trading is Daily/Weekly charts medium to longer term swing trading which can run into several weeks.


Quoting 40PipsAlan
{quote} I have no answer Emm probably because I dont understand the question regarding averaging in positions. -75 pips would worry me. Maybe total basket profits will outweigh the -75? I will need to read up on it.
One day you will decide to retire and trade the markets for additional income. Then you can start trading a £25,000 account deposit. This will be a good amount as starting base to swing trade using RH TMSr. 75 pips floating loss will not scare you once you know how I trade. You will develop your mental strategy over time.
Start with a Demo trading account £25,000 or even a £50,000 and try turn that to £400,000 in 3 years.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #6,157
  • Sep 24, 2020 11:22am Sep 24, 2020 11:22am
Quoting emmanuel7788
{quote} Hi Vivi-I I don't place all 5 positions at once. I can but I only place one stop and one limit order when I initiate the first market order. Averaging is not necessary an edge. My system trading strategy is to leverage on trading multiple pairs in a pool of currencies. I trade several pairs as a pool in the same trading account. For each selected pair, I trade a basket of 5 positions each time and manage each basket with its average entry price. I can have 2 to 3 baskets open in the same pair when the market trends and each basket must be...
Thanks for the explanation .. How much you risk on each basket?
  • #6,158
  • Sep 24, 2020 1:25pm Sep 24, 2020 1:25pm
Hi Emmanuel, perhaps you can elaborate more on the topic since scaling in is a big topic, discretionary scaling in vs systematically (e.g. using atr) is totally different. Hope to hear from you soon, as this has been a deep topic I have been studying for some time as well.

Cheers, and stay green.

-WF
Full Time Funded Trader. Occasionally drop by FF. Expect a delay in reply.
  • #6,159
  • Sep 24, 2020 4:33pm Sep 24, 2020 4:33pm
Quoting Vivi-l
{quote} Thanks for the explanation .. How much you risk on each basket?

first go back to this post #2852 and learn from that video. Mastering Risk Management Techniques.

then we can talk more and discuss the money management strategy to go with trading made simpler
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #6,160
  • Sep 24, 2020 4:46pm Sep 24, 2020 4:46pm
Quoting WindFreeze10
Hi Emmanuel, perhaps you can elaborate more on the topic since scaling in is a big topic, discretionary scaling in vs systematically (e.g. using atr) is totally different. Hope to hear from you soon, as this has been a deep topic I have been studying for some time as well. Cheers, and stay green. -WF

Hi WF

I think what you have learned so far is the TMS MEME model. I can repeat that basic model so that many more here can also learn that model.

I am trading an new MM strategy since 2018 more aggressive and hence more risk during the current trading cycle 2018 to 2020 ( a 3 years cycle).

But right now in this thread, members must focus on trading RobinHood's method using his templates and learn to look for good trades while we also study the market conditions so that we can take advantage of the ever changing market conditions and trade to make more money.
We are in a "pandemic market" now which will last a few years with a lot is going on and there will be extreme volatile periods where we can make more money if we know when to take trades correctly and with calculated risks. To grow $50,000 to $400,000 is a once every 3-years opportunity. It is not just maths as some traders think. It is real trading with the right mental strategy in the trading system of the trader.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
12 traders viewing now