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Trading Made Simple

  • #112,121
  • Dec 2, 2020 1:09pm Dec 2, 2020 1:09pm
Wrong time of the day to be trading the H4 no matter how good the TDI slope and signals are.

Attached Image (click to enlarge)
Click to Enlarge Name: TMS Monitor Dec 02 2PM EST 3-12-2020 3-06-08 am.png Size: 25 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #112,122
  • Dec 2, 2020 1:10pm Dec 2, 2020 1:10pm
http://traderfeed.blogspot.com/2020/...r-trading.html

At SMB Capital, the first week of every month includes team meetings, where traders share with the group their performance statistics, their progress on the goals they had set for the month, and their goals and plans going forward. Reviewing the good, bad, and ugly about your trading in front of your peers is a great way of staying accountable, and it's also a powerful practice that enables every trader to learn from the experience of their teammates. You don't need to belong to a trading firm or a team in order to benefit from this dynamic. All you need is one or two partners that you meet online that trade similar markets and strategies to you and that show a similar dedication to learning and performance. (A listing of trading communities and mentoring resources appears in the Appendix to my free blog book and can provide an excellent place to start in identifying potential trading partners.)
When risk manager Carlton Bryan kicks off the team meetings at SMB, what's the first thing he asks of each trader? He asks them to give themselves a grade for the recent month's trading and then explain why they gave themselves that grade.
Why is it helpful to grade our trading?
Most of us who participate in financial markets are achievement oriented. We seek mastery and success, as in any sport or competitive game. When we publicly give ourselves a grade for our trading, we engage that competitive instinct. Once we have a grade, we want to improve upon that grade, and once we get good grades in one area of trading, we look to master another. Over time, the sequence of our grades provides a different kind of P/L: a learning P/L. Indeed, if we can focus on steadily improving our learning P/L, we create a powerful path toward a consistently profitable financial P/L.
Giving yourself a grade makes you face yourself: your successes and your shortcomings. Sharing that grade with others can create a teamwork where everyone helps everyone else improve their grades.
One trader I work with grades his trading every single day and sends that report card to me daily! It's no surprise that he is profitable month after month, year after year. Good traders look to improve when they fall short. Great traders look to improve when they do well. They learn from successes and continually find new areas to master.
Can we truly expect to improve if we don't actively keep score?
MA provides the market's current direction and strength.
  • #112,123
  • Dec 2, 2020 1:29pm Dec 2, 2020 1:29pm
Quoting Jamesneil
Hi newbie here, been demoing this strategy for a while but have a high amount of losing trades. Anyone got any tips on how i can become profitable?
Hello newbie

You did not provide any information on your 'high amount of losing trades'.
- how many trades have your done in Demo account?
- what was the trading period?
- which currency pairs traded?
- which chart timeframes were those trades taken?
etc. etc.

Tip#1
The OP Big E has one piece of advice in his Post #281

Don't get fired ! Just make the necessary transition to trading 4hr charts during the London session... or Daily charts.

Perhaps, you may want to consider to start over again - read and study all the OP posts again and review the notes you have written down the last time.
At some point when you read the OP posts in this thread, you have to go back to the OP' old thread and also study all those things he shared in FF.
Also read all other posts he made in FF other threads. In all, you have 1488 posts to read again.

Attached Image (click to enlarge)
Click to Enlarge Name: eelfranz profile.png Size: 200 KB

Next, start be active and participate in this thread, post charts and ask any questions here.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #112,124
  • Dec 2, 2020 1:37pm Dec 2, 2020 1:37pm
Quoting emmanuel7788
{quote} quite nice except the ATR quite small and to get 5pips 10pips and 15 pips can be difficult with this setup otherwise it looks like a 'dead cat bounce' {image}
Attached Image (click to enlarge)
Click to Enlarge Name: USDCHF dec 02 H4 V19 info.png Size: 78 KB


that was a dead cat bounce ... from the Day Open
note the TDI in the above chart and the new below

Attached Image (click to enlarge)
Click to Enlarge Name: USDCHF Dec 02 2.30PM EST 3-12-2020 3-32-04 am.png Size: 81 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #112,125
  • Dec 2, 2020 1:47pm Dec 2, 2020 1:47pm
Ask and it will be given to you; seek and you will find; knock and the door will be opened to you.
Matthew 7:7

Keep trying and Keep Learning One day we will get our success.
MA provides the market's current direction and strength.
  • #112,126
  • Dec 2, 2020 6:45pm Dec 2, 2020 6:45pm
Quoting Jamesneil
Hi newbie here, been demoing this strategy for a while but have a high amount of losing trades. Anyone got any tips on how i can become profitable?
Tip#2
a tip from May 2013,
https://www.forexfactory.com/thread/...29#post6652529

reduce your 'high amount of losing trades'
----------------------------------------------------------------------------------
How to increase your winning rate?

Quoting itrade44
{quote} .... My loosing trades are always alot more than my winning trades. Trying to work out what my problems are. ...
I was there before when my win rate was below 45% for a long period when I started trading. One of my mentor looked at all my trades, all my entries and all my exits...

Then the thing he told me to do was simply use multi-lots entry and manage exits differently.

This basic idea is also available in babypips school.
http://forums.babypips.com/analyst-a...rading-fx.html

I usually trade with a 2-lots or 3-lots entry and different exits each lot at different time/price.

Study this and conceptualise how this work on paper and then apply it in live/demo trading.

Trade Well.
------------------------------------------------------------------------------------
Few things which you can look into:

1) Improve initial SL using market volatility and technical stops. ATR is good.

2) Placement of initial SL and position sizing and using R and R-Multiple..

3) Using multi-lot entry and with multiple exits. This will improve win rate and help reduce initial trade risk.

4) Think of how to "Let Profit Run" in trade exit management.

5) Work on a strategic way on how to scale-in more trades with banked-in profits in a trend breakout situation. This will increase profit$. Think like an investor, Trade like an investor.


for Tip#1 { here }
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #112,127
  • Dec 2, 2020 7:00pm Dec 2, 2020 7:00pm
Quoting emmanuel7788
{quote} {image} EURGBP Dec 02 H1 5AM EST WOW! Better than I thought when price made a last second push up. {image} pull the trigger !
EURGBP Dec 02 trades closed.

- the usual TP1 +5pips, TP2 +10pips, TP3 +15 pips and final TP stopped out by the pull back +10pips
- total 4 wins 0 loss.

Attached Image (click to enlarge)
Click to Enlarge Name: EURGBP Dec 02 M15 trades closed 3-12-2020 8-55-29 am.png Size: 30 KB

make the transition to trade the 4hour H4 during the European / London sessions.
***TIMING the entry in M15***
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #112,128
  • Dec 2, 2020 7:30pm Dec 2, 2020 7:30pm
Quoting kirinda
{quote} Only hard work over years will help you. Then you have a change to get long term profitable. In addition: Learn by putting on trades and see what works and what doesn't work (I see you have started with that) Select one strategy and work on that for a long time to fit your trading style. The BigE TMS system is difficult to learn because the TDI crossing will give you a lot of false signals. A strategy (it's a indicator with a build-in stratergy) that is good for newbie is Ichimoku because everything is...
The BigE TMS system is difficult to learn because the TDI crossing will give you a lot of false signals.

A fully mechanical system based on technical indicators and with few rules is easy to learn and is often attractive to new traders with less knowledge and experience.

However, more advanced trading system requires more discretion on the part of the trader and this depends a lot more knowledge and the vast experience of the trader.

It is correct that the TDI do generate a lot of 'signals' - green line crosses red line, etc. but many of the 'signals' do not result in a good trade because in order for a higher probability trade, several other technical conditions must exist at the same time.

1) is the Stoch(8,3,3,) signal %K cross %D which importance is often neglected by new traders.
2) is the price action - the type of price action pattern that generate the REVERSAL patterns with the Stoch(8,3,3) signal. This is the most neglected condition by most new traders.

3) when to trade and when not to trade is the top most neglect by most new traders. Trading during periods when the market is in low liquidity and in narrow ranged sideways conditions will often lead to more bad trades and more losers than winners.

4) new traders with less experience should consider the less aggressive trading approach and follow the OP' conservative trading style and use the setup candle with the 5EMA Typical Price , Shift+1 (or +3).

5) new traders should be trading the 4hr ... H4 chart timeframe and only during those hours according to their own trading hours. The London session is the best session to start with.

Trading Made Simple is not just about trading the TDI cross to cross. New traders must get this right the first time.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #112,129
  • Dec 2, 2020 7:47pm Dec 2, 2020 7:47pm
Quoting Tekkies
{quote} Who do you follow? BigE or those that think they know more.
the usual rash post reply by Tekkies ... often lack substance, pointless and irrelevant.

Who do you follow?
BigE or those that think they know more

Of course, new traders coming to this thread would first be following the OP posts and learn EVERYTHING which the OP posted in this thread and then move on follow his advice to go to his old thread.

Since the OP last post in Oct 2011, that is 9 years since. Do you stop learning?

New traders must not stop learning because the OP had already said that learning { here } to trade is a lifetime process. Many successful people will tell you the same.

Who are the traders/members who know more?
Start with just two members and their threads. I learn from them too.

james16
https://www.forexfactory.com/thread/...6-chart-thread

strat
https://www.forexfactory.com/thread/...s-free-trading


continue your own trading journey, continue learning, never stop learning, ...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #112,130
  • Dec 2, 2020 7:54pm Dec 2, 2020 7:54pm
AUDUSD Dec 03

- low liquidity hours

- otherwise a bounce at BRN 0.7400 would be nice setup

- note the Daily price action for those who look at Daily chart timeframe.

Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD Dec 03 Tokyo 0952AM 3-12-2020 9-52-17 am.png Size: 45 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #112,131
  • Dec 2, 2020 8:05pm Dec 2, 2020 8:05pm
EURJPY Dec 03 H1

- TIMIMG my entry on M15 with the H1 completion

- trade away from the today' Day Open...

Attached Image (click to enlarge)
Click to Enlarge Name: EURJPY Dec 03 H1 with M15 entry 3-12-2020 10-02-29 am.png Size: 32 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #112,132
  • Dec 2, 2020 10:38pm Dec 2, 2020 10:38pm
Trading Hours ... trade once every 4 hours,

While we wait another 1hour 30mins for the next H4 candle period, we already know the market conditions now at 5:30Am Frankfurt local time. At 7:00AM Ffm (1AM EST) will be the new H4 candle.

USDJPY
Attached Image (click to enlarge)
Click to Enlarge Name: USDJOY Dec 03 0530am FFM 3-12-2020 12-28-58 pm.png Size: 80 KB


AUDJPY
Attached Image (click to enlarge)
Click to Enlarge Name: AUDJPOY Dec 03 0530am FFM 3-12-2020 12-29-45 pm.png Size: 72 KB


EURJPY
Attached Image (click to enlarge)
Click to Enlarge Name: EURJPY Dec 03 0530am FFM 3-12-2020 12-30-15 pm.png Size: 75 KB


GBPJPY
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPY Dec 03 0530am FFM 3-12-2020 12-30-42 pm.png Size: 78 KB

If you know how to trade the TOK_5H high-low range, you can easily pick out the 2 pairs to trade.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #112,133
  • Dec 2, 2020 11:53pm Dec 2, 2020 11:53pm
Quoting emmanuel7788
Trading Hours ... trade once every 4 hours, While we wait another 1hour 30mins for the next H4 candle period, we already know the market conditions now at 5:30Am Frankfurt local time. At 7:00AM Ffm (1AM EST) will be the new H4 candle. USDJPY {image} AUDJPY {image} EURJPY {image} GBPJPY {image} If you know how to trade the TOK_5H high-low range, you can easily pick out the 2 pairs to trade.
TMS Monitor Dec 03 M15 Tokyo 2:52PM

- waiting for the next candle

Attached Image (click to enlarge)
Click to Enlarge Name: TMS Monitor Dec 03 M15 TOK2.51PM 3-12-2020 1-51-22 pm.png Size: 19 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #112,134
  • Dec 3, 2020 12:34am Dec 3, 2020 12:34am
AUDUSD Dec 03 H4 Tokyo 0230PM

- waiting for the Frankfurt Open 8AM local

- will the Double Inside Bar become Triple Inside Bar later today?

- what if we see a H1 breaks the Tokyo_5H high?



Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD Dec 03 H4 DIB or TIB 3-12-2020 2-29-48 pm.png Size: 78 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #112,135
  • Dec 3, 2020 1:05am Dec 3, 2020 1:05am
Quoting emmanuel7788
AUDUSD Dec 03 H4 Tokyo 0230PM - waiting for the Frankfurt Open 8AM local - will the Double Inside Bar become Triple Inside Bar later today? - what if we see a H1 breaks the Tokyo_5H high? {image}

AUDUSD Dec 03 M15 entry at FO

- plan the trade , trade the plan

Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD Dec 03 M15 FO entry 3-12-2020 3-02-43 pm.png Size: 36 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #112,136
  • Dec 3, 2020 1:24am Dec 3, 2020 1:24am
Quoting Jamesneil
Hi newbie here, been demoing this strategy for a while but have a high amount of losing trades. Anyone got any tips on how i can become profitable?
Are you reading what BigE has posted or all the huff and puff from other members?
Have notice that you follow philstodd.
Did you read his huff and puff Post 108,830
He said he made a million bucks and how he did it with referring to some key points:
The system gives you an advantage.
All I say is look:
- closely at that charts.
- how price moves up and down.
- what the indicators are showing when they move.
- at highs. at lows.
- at direction.
- at support/resistance.
Make it work for you. Use your own mind.

The same point's are mentioned in post#647.
Do you understand all those points, were they are on the chart and know how to use them?
  • #112,137
  • Dec 3, 2020 1:31am Dec 3, 2020 1:31am
Today is PMI data so be prepared for being set up by the market ....
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #112,138
  • Dec 3, 2020 1:33am Dec 3, 2020 1:33am
Quoting Tekkies
{quote} Are you reading what BigE has posted or all the huff and puff from other members? Have notice that you follow philstodd. Did you read his huff and puff Post 108,830 He said he made a million bucks and how he did it with referring to some key points: The system gives you an advantage. All I say is look: - closely at that charts. - how price moves up and down. - what the indicators are showing when they move. - at highs. at lows. - at direction. - at support/resistance....
point's are mentioned in post#647.

Your safest trades will always be when green crosses red and you enter on candle 1 or 2... odds are in your favor. Why? Because I'm expecting 3-8 candles... which is average...

With bounce trades the odds are lower for your success... but it still works.

When wanting to enter a TDI trade... take a moment first to observe basic 4x things... like:

How close am I to the previous high or lo

Am I in an uptrend or downtrend.. short & long term...

Am I in or close to a consolidation area

Are the previous candles small...

Look at the candles on the last reversal... big, little, what

How does the momentum look right now (12-2, 4-6)

Does Stoch's confirm the TDI signal

Sounds like a lot of stuff but it's basic stuff and only takes a moment to observe it...

If you don't already know these things... don't trade live yet... www.babypips.com is a good place to learn about the basics of trading 4X.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #112,139
  • Dec 3, 2020 1:35am Dec 3, 2020 1:35am
Quoting emmanuel7788
{quote} AUDUSD Dec 03 M15 entry at FO - plan the trade , trade the plan {image}

AUDUSD Dec 03 trade update

- so far TP1 and TP2

Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD Dec 03 TP1 TP2 so far 3-12-2020 3-31-28 pm.png Size: 32 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #112,140
  • Dec 3, 2020 1:52am Dec 3, 2020 1:52am
USDJPY Dec 03 H4

- showing a bit more life now and moving below the 5EMA and Day Open

Attached Image (click to enlarge)
Click to Enlarge Name: USDJPY Dec 03 H4 moving 3-12-2020 3-51-16 pm.png Size: 81 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
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