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Trading Made Simple(r)

  • #6,261
  • Oct 9, 2020 8:23pm Oct 9, 2020 8:23pm
Quoting emmanuel7788
Trade Report Week 41 Oct 05 to 09 Closed most pairs that were in profit just before London market session closed. Kept some basket/position with open positions to rollover to next week Oct 12 to 16. This is completion of the first 6 trading days of a new 20-trading days cycle which will run till Oct 29. {image} Am I showing off? NO. Just want to inspire you all to work even harder at trading during this current pandemic while you have more time to be at home. Learn EVERYTHING that come your way. Take those things and make them work for you and develop...
That's great Emmanuel! That shows that the method always works very well, as long as we comply with the law and the transaction plan. I still practice with small volume to improve chart reading skills
  • #6,262
  • Oct 10, 2020 4:38am Oct 10, 2020 4:38am
Quoting Jonhathan123
{quote} That's great Emmanuel! That shows that the method always works very well, as long as we comply with the law and the transaction plan. I still practice with small volume to improve chart reading skills
spend some time during the weekend and do your weekly top down analysis.

several pairs have WCC and you know the market type conditions to trade next week and be prepared for the move out of the WCC.
catch a few runaway train and falling knife and you will be done making bonuses for the October month and will be well ahead into November with 'free trades'.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #6,263
  • Oct 10, 2020 8:42pm Oct 10, 2020 8:42pm
Week 42 Oct 12 to 16

EURGBP Daily Sell Swing Trade Planning

- Weekly market type is wide range with a WCC high-low 366pips, Weekly ATR(52) is 164pips
- D1 setup is a BEOB Bearish Engulfing Outside Bar
- #1 Sell Entry can be any time when Monday market open
- initial SL is 2 x ADR(10)
- between #1Sell EP and iSL, you can build up a basket with a maximum 5 positions .... maximum risk $amount+ position sizing
- when price move lower below #1SellEP you can add positions ONLY when you have a basket with locked profit.

- check news & event calendar and be vigilant at all times especially during the European market sessions
- be prepared to cut-loss when D1 condition changes ... small APB/HA candles closing inside the HMA/5EMA
- also be prepared if market condition allows trade run into the following week 43 Oct 19 to 23

Attached Image (click to enlarge)
Click to Enlarge Name: EURGBP Oct 12 D1 SELL basket 11-10-2020 9-24-45 am.png Size: 58 KB

Trade Safe!
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #6,264
  • Oct 11, 2020 2:43am Oct 11, 2020 2:43am
Quoting emmanuel7788
Week 42 Oct 12 to 16 EURGBP Daily Sell Swing Trade Planning - Weekly market type is wide range with a WCC high-low 366pips, Weekly ATR(52) is 164pips - D1 setup is a BEOB Bearish Engulfing Outside Bar - #1 Sell Entry can be any time when Monday market open - initial SL is 2 x ADR(10) - between #1Sell EP and iSL, you can build up a basket with a maximum 5 positions .... maximum risk $amount+ position sizing - when price move lower below #1SellEP you can add positions ONLY when you have a basket with locked profit. - check news & event calendar and...
Hi Emm,

this is excellent info for us newbies. I can see from looking over your posts from years back that getting the market type correct is critical in our weekly analysis. I suppose it’s simple if the weekly candles are making HH and HL but this master candle concept is a whole new ballgame. I will need to work on that.

A
  • #6,265
  • Oct 11, 2020 5:54pm Oct 11, 2020 5:54pm
Quoting emmanuel7788
Week 42 Oct 12 to 16 EURGBP Daily Sell Swing Trade Planning - Weekly market type is wide range with a WCC high-low 366pips, Weekly ATR(52) is 164pips - D1 setup is a BEOB Bearish Engulfing Outside Bar - #1 Sell Entry can be any time when Monday market open - initial SL is 2 x ADR(10) - between #1Sell EP and iSL, you can build up a basket with a maximum 5 positions .... maximum risk $amount+ position sizing - when price move lower below #1SellEP you can add positions ONLY when you have a basket with locked profit. - check news & event calendar and...
EURGBP Oct 12 Update:

- new basket open
- also marked the Aqua colour zone where price can fall to but anything can happen this week, the intra-week 'correction' can cause some stress for sellers.
Attached Image (click to enlarge)
Click to Enlarge Name: EURGBP Oct 12 D1 open basket aqua zone.png Size: 47 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #6,266
  • Oct 12, 2020 6:23am Oct 12, 2020 6:23am
Quoting emmanuel7788
{quote} EURGBP Oct 12 Update: - new basket open - also marked the Aqua colour zone where price can fall to but anything can happen this week, the intra-week 'correction' can cause some stress for sellers. {image}

EURGBP Oct 12 pre-NYOpen

- got some money on the table, just take the money and open a new basket.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #6,267
  • Oct 12, 2020 8:28am Oct 12, 2020 8:28am
Quoting emmanuel7788
{quote} EURGBP Oct 12 pre-NYOpen - got some money on the table, just take the money and open a new basket.
Hi emmanuel
You closed all your baskets and waited for the price to return to the original buying zone and start a new basket, right?
  • #6,268
  • Oct 12, 2020 7:36pm Oct 12, 2020 7:36pm
Quoting kecodon
{quote} Hi emmanuel You closed all your baskets and waited for the price to return to the original buying zone and start a new basket, right?

Hi kecodon

I do not simple close all my baskets. I close only the baskets which are in profit and
- re-open a new basket so long as the trade setup is valid, which means there is no trade invalidation of the original setup conditions.
- there is no reason to wait for price to return to any level to re-start a new basket,
- we build up each basket with several positions and get a better average entry price AEP and manage the AEP, this is the reason for using multiple entries... i.e. to get a better entry price into the market

I can also close those positions within a basket which are in profits and let that basket continue according to the trade plan.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #6,269
  • Oct 12, 2020 7:40pm Oct 12, 2020 7:40pm
Here is one to be in your watchlist,

AUDJPY Oct 13 Daily
Attached Image (click to enlarge)
Click to Enlarge Name: AUDJPY Oct 13 D1 watchlist 13-10-2020 8-19-52 am.png Size: 53 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #6,270
  • Oct 13, 2020 12:49am Oct 13, 2020 12:49am
Hi guys anyone with a MT5 template

Thank you
  • #6,271
  • Oct 13, 2020 5:33pm Oct 13, 2020 5:33pm
Quoting emmanuel7788
{quote} EURGBP Oct 12 Update: - new basket open - also marked the Aqua colour zone where price can fall to but anything can happen this week, the intra-week 'correction' can cause some stress for sellers. {image}

EURGBP Oct 13 ... "the intra-week correction is happening and will go 'deeper' into the Friday' 16:00 H4 candle.

Attached Image (click to enlarge)
Click to Enlarge Name: EURGBP Oct 13 retracement H4 14-10-2020 6-31-50 am.png Size: 50 KB

Plan B as discussed in our planning session!
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #6,272
  • Oct 13, 2020 5:36pm Oct 13, 2020 5:36pm
GBPNZD and AUDJPY D1 opportunity Oct 14 SYD Open

- anyone can post charts
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #6,273
  • Oct 13, 2020 5:40pm Oct 13, 2020 5:40pm
Quoting Mukomondera
Hi guys anyone with a MT5 template Thank you

YES.
Attached Image (click to enlarge)
Click to Enlarge Name: MT5 chart 14-10-2020 6-39-46 am.png Size: 40 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #6,274
  • Oct 13, 2020 10:28pm Oct 13, 2020 10:28pm
MT5 HMA with alert download:

https://www.mql5.com/en/market/produ...#!tab=overview

remember to change the period to 12 as in Post#1.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPNZD Oct 14 D1 HMA(12) 14-10-2020 11-27-45 am.png Size: 49 KB


when you get a HMA alert, check the APB and HA candles, the HMA(12) and EMA(5), then check the conditions of the Stoch(8,3,3) and Stcoh(14,3,3) and the RSI(14). Study old charts and learn the setups.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #6,275
  • Oct 14, 2020 1:21am Oct 14, 2020 1:21am
Quoting emmanuel7788
MT5 HMA with alert download: https://www.mql5.com/en/market/produ...#!tab=overview remember to change the period to 12 as in Post#1. {image} when you get a HMA alert, check the APB and HA candles, the HMA(12) and EMA(5), then check the conditions of the Stoch(8,3,3) and Stcoh(14,3,3) and the RSI(14). Study old charts and learn the setups.
Thank you very much
  • #6,276
  • Oct 14, 2020 2:18am Oct 14, 2020 2:18am
Quoting emmanuel7788
GBPNZD and AUDJPY D1 opportunity Oct 14 SYD Open - anyone can post charts
Hi Emm, It seems my entry points are improving but the trade management side of things is lacking and the trade gets taken out at BE too many times with a few trades going further back to SL taking the weeks total into negative. I have resurrected Cavemanger again with a few tweaks to the settings to try and save some trades. Keep up the good work. Is not easy managing trades with a full time job.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot2.png Size: 176 KB
  • #6,277
  • Oct 14, 2020 4:28am Oct 14, 2020 4:28am
Quoting emmanuel7788
{quote} EURGBP Oct 13 ... "the intra-week correction is happening and will go 'deeper' into the Friday' 16:00 H4 candle. {image} Plan B as discussed in our planning session!
Attached Image (click to enlarge)
Click to Enlarge Name: EURGBP Oct 13 retracement H4 14-10-2020 6-31-50 am.png Size: 50 KB


EURGBP Oct 14 update

- at this moment that intra-week correction has taken care of the seller stops.

- now its back to my original trade plan

Attached Image (click to enlarge)
Click to Enlarge Name: EURGBP Oct 14 H4 correction moves 14-10-2020 5-26-18 pm.png Size: 50 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #6,278
  • Oct 14, 2020 4:43am Oct 14, 2020 4:43am
Quoting 40PipsAlan
{quote} Hi Emm, It seems my entry points are improving but the trade management side of things is lacking and the trade gets taken out at BE too many times with a few trades going further back to SL taking the weeks total into negative. I have resurrected Cavemanger again with a few tweaks to the settings to try and save some trades. Keep up the good work. Is not easy managing trades with a full time job. {image}

Hi Alan

Once you have done your weekly top down analysis and know the market type condition to trade, finding entry levels will be easy and you will have confidence to place your trade baskets.

Do not use THV Cavemanager because it does not manage multiple entries on the same chart correctly.

Trading the Daily chart timeframes you have plenty of time to place you limit and stop orders using the ADR(100) days. There is no need to rush into managing open baskets so long you know the average entry price of every basket and move the SLs according to your trade plan. Keep the number of pairs to maximum 5 and you can relax just trading 5 pairs at the same time.

The covid19 situation in the UK isn't getting better as I hear from my family members there. So take care.

Trade Safe. Stay Safe.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #6,279
  • Oct 14, 2020 6:07am Oct 14, 2020 6:07am
USDCAD Week 42 Oct 14

Trade baskets closed, see reasons why I close today on my chart below.

Now back to waiting for the next trade opportunity.

Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD Oct 14 trades closed 14-10-2020 7-03-54 pm.png Size: 75 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #6,280
  • Oct 14, 2020 7:11am Oct 14, 2020 7:11am
GBPUSD Oct 14 trade basket management

- one basket with 2 open positions, I will exit and take the profit before the next buy stop level. not the market is above my buy average 1.2959 now.

- once I exit this basket, both the buy limit and buy stop will be deleted

- I will then decide if I want to open a new buy basket

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD Oct 14 basket management 14-10-2020 8-06-58 pm.png Size: 37 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
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