Trading Made Simple

Good morning


I entered GU hope end correction. rules turned back from a good + level. AUUSD is close and trend line touch. I'm still waiting.

GU is a good pick ..

TMS Monitor Mar01 H4

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THE TRADING PLAN AND THE GAME PLAN What this book is all about is how to reduce the gambling aspect of trading. Many people perceive trading as nothing more than a gamble. And to many traders it is. But there are many traders, who year after year and month after month make money trading. They have learned how to separate gambling from trading and their results show that it is possible to do. I believe anyone can do it as well if they are willing to do the work it takes. For me, that hard work is developing and trading with a plan. There is probably no greater tool you can have then a proper, well thought out plan. When I talk about plans I refer to two types, the trading plan and the game plan. Though they work together, they are two different creatures that rely on each other to work. A good trading plan with no game plan won’t work. That’s like Pedro having the best fastball and curveball in world but not knowing when to throw them or who to throw them at. On the other hand, without a trading plan, a game plan is not nearly as strong. It’s like Pedro deciding he needs to throw a knuckleball in a tough situation, but realizing too late he never learned how to throw one. But once he gets both of these plans working together, he can win a lot of games and be the superb pitcher he is. This holds for traders as well. The main reasons for having these plans are to ensure you make smart trading decisions all the time, to help you exit a trade and to make sure you know what you are risking and how much you stand to gain prior to making a trade. Without the aide of plans, you are starting behind the eight ball. Your chances of succeeding are so much smaller if you are trading haphazardly, as opposed to when you a proper plan to guide you. Throughout this book you will see just how important a trading and game plan will be in making you a better trader. I’ve traded with and without a trading and game plan, and I know for sure, my results are exponentially better when I have the guidance of a proper plan behind me. If you have read my first book, High Probability Trading, you will know that I stress that having a plan is a very important ingredient in becoming a top trader. In that book, I had a chapter devoted to trading and game plans. And it is from there that I got the idea for this book. The Trading Plan The trading plan comes first, and it is the board based trading strategy each trader should have. It should reflect a trader’s trading style, trading strategies, and risk aversion. A trading plan doesn’t have to have a system set in stone, but it can have known-to-work strategies like “buy dips in an uptrend and don’t risk more then 5 percent of equity on any given trade.” A trading plan won’t change much from day to day, as it consists of a trader’s systems and money management plans. It does need to be reviewed on a regular basis, but overall it usually stays the same. Though this book is not about how to make a trading plan, I’ll expand on the basics of doing so in the next chapter. The Game Plan Once a trading plan is in place, a trader needs a plan to be able to attack the markets on a day-to-day basis. This will be the game plan and it will change constantly as it reflects new market conditions. Markets have something new to offer all the time and a well-prepared trader can take advantage of this by preparing how to react in advance. This may include moving stops, knowing what you will do after an unemployment number is released, or waiting for a market to reach a trend line before getting in. The game plan will include finding trades, timing, knowing how much to trade, where to exit, and how to adjust risk. You should reevaluate your positions on a regular basis and come up with new scenarios so that you can alter your game plan as the market changes. This book will focus more than anything on how to use a game plan to your advantage. And if you learn how to make and use one, you will become a trader who leaves very little to gambling.

collected from Book

DrDave lost his privilege to post here in ff. NOw this thread becomes very clean and free of disrespectfulness. Keep this thread clean and learn from each other with a respect. From Now on No personal attack. I expect we all can learn from eachother. we will be a better trader in the upcoming days.

EURNZD Mar02 H4 Sydney Open

- Weekly candle is interesting
- Weekly Trend 2/8 is bearish for many weeks already
- H4 is PA sideways as we see RSI green price line exited and re-enters the VB

- I am waiting for Daily to make the first move then I will decide

GBPUSD Mar04 H4 Sydney Open

- GU Weekly looks opposite that of EURNZD ...

- Weekly Trend 2/8 is bullish

- H4 went sideways after yesterday

- wait on Daily , be patient we don't have to jump into the market with full risk all the time.

Hi Fabio

I linked that thread "Opinions and Experiences with Hedging and Martingale" for reading the different views of traders. Some of the posters are very experienced traders and their views are important to know. I note that many experienced trades use hedging and also average down but not Martingale. They also do average UP.

You know original Blessing3 well, it has many features and options to choose. You do not have to average down and you do not need to use the default lot size multiplier, and definitely do not want to 'martingale' the lot size.
Trading the original Blessing3 is scaleable. I know many traders allocate $500~$1000 per currency pair and use a system strategy trading basket of with several pairs.
You can run Blessing3 in manual trading mode using FMC control.

My point in mentioning the OP Big E risking 15% to 30% in one single entry trade is to highlight to members here why he has different exit strategy and did not rely solely on the TDI conditions which he wrote in Post#6. He exit on price pullback in number of pips and did not wait for the RSI green price line to update at the end of the bar. This is where many newbies got it wrong.

Trade Well.

Yes. DISCIPLINE is top on my list why many traders failed.

The OP Big E shared two simple trading methods which he used his years of experience and spent 6,000 hours to developed. Both his methods work well but requires certain discipline to follow and to execute trades.
5-Method and 21/233 Method Post#3018, Post#4104,

For those who prefers to trade with multiple entries, his 21/233 Method has more trade opportunities.
What is stopping anyone here in using his 5-Method for reversal and then add more trades using his 21/233 Method?

Quoting Big E:
"
Both systems are easy to trade. You'll get more set ups on the 5 method and more re-entries using the 21/233. There are lots of examples from the charts I've posted previously."
"

Doug Zalessky' 25 points on DISCIPLINE { click to download }

AUDUSD Mar02 H4 Tokyo Open

- Weekly Trend 2/8 started sideways but it is early this week.

- Watch the PA and the TDI green price line and the volatility band VB

- also check the Daily PA and TMS_V19 information panel

EURNZD Mar02 H4 New York 3:15AM

- with 1hr 45mins to the H4 Close, Stoch crossed UP but the TDI #25 has to wait till the H4 candle time close to update the RSI green price line

- anything can happen in the next 1 hour 45 mins

- some traders jump in (Dynamic entry) based on the PA others would wait for the Static entry , what you do is your preference .

- you have the choice in TMS_V19 EA to select Dynamic or Static entry alert.

EURNZD Mar02 H4 New York 5AM 2AM PDT

- the H4 Close with too much pulled back
- and the Prev Slope 2 and Curr Slope 3 (hook over / bounce) comparison is not good enough for a A+++ setup.



TMS Monitor Mar02 H4

- RSI green price line cross red but ....

EURNZD Mar02 H1

- with the H4 pull back, H1 has a good setup



TMS Monitor Mar02 H1

G'day All,

Only new here - just thought I would share a tip.
I made my own trading mouse pointer for charts to check entry quickly.
Very simple, you can make you own easily enough on http://www.rw-designer.com/online-cursor-editor

Big E said he doesn't like weak crossovers between 2 and 4 o'clock so I made a quick cursor with those angles for quick identification.


Cheers,


Ken

Hello emmanuel7788! Where can I download TMS Monitor?

Hi

Just look left.

Mos

FAQs Frequently Asked Questions:

Post#193 for the TMS Monitor tool

setup your charts with this simple tools the way you want to see them and use them. save them as your own templates.

most important is you know the 5-Method and how to trade the 5-Method.

make sure you read that threads for more information how to set up the expert advisor(TMS Monitor).
if you have questions, post and ask in those threads and I'll try find time and help there.

Be warned: The TMS Monitor is an expert advisor and can be very CPU intensive if you select all pairs in the input parameter.
For optimum performance, I have only up to 20 pairs.
You should consider to select only the pairs you trade and input their symbol in the parameter.

Gold

Gold slow down

Ааhahah)) You made me laugh! In the same way, I do not notice profitable entry points))

Thanks to emmanuel7788 for the answer. I'll try to figure it out)