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Trading Made Simple

  • #117,621
  • Mar 15, 2021 4:06pm Mar 15, 2021 4:06pm
Quoting hasib
I am going to start prop trading for first time. I am excited and nervous. Started small, lets see how it goes. Keep me in your prayer. I was thinking of starting prop firm for long, but I was not confident enough. I think i will never be confident enough untill I pass the challenge. {image}
I think you should better donate the $150 bucks to a hospital for sick children instead of help funding such dubious company who will then let you trade a demo account and kick you out of business as soon as you violated against any of their TOS before you ever had a chance to have just any kind of real profits withdrawn. The chance that this will be your life changing opportunity as a trader is close to zero, if not zero and they know this. So all you will fund is them, not you. And for sure they won’t let you trade a real money account of let’s say 100k you have full control after making a upfront payment of a few hundreds bucks or what ever. I think in India this will come close to a yearly income, don’t be stupid.
  • #117,622
  • Mar 15, 2021 7:32pm Mar 15, 2021 7:32pm
Quoting Inthebox
{quote} .
thanks for the offer. i got the macd one from mt5 market, so do not require.
i am using rsi 13, just have to add ma 7 to it.
many traders enter trades on the cross of tdi without knowing why.
what is more important that the tdi turned is the structure, support resistance around the present price.
if one has problem drawing the SR zone, a simple solution tip is to look at d1 candle high/low.
one can see how it works in the chart. {image}
I like simple solution...

I look at the Daily Open, High, Low and Close OHLC all the time.
The same I look at the Weekly OHLC.

What matters more is the CONFLUENCE of 'support&resistance' ... use of the OHLC with the price Round Number RN and Big Round Number BRN and the Previous Price Action PPA the swing highs and swing lows. Some TMS traders go one step further and use the 10,50 and 200 EMAs as dynamic support and resistance.

If we study on our charts and what the OP Big E mentioned in his posts, he observed that on his price charts - "... how the price returns to previous highs and lows..." and on his TDI, "... also the previous highs and lows on the TDI...". These are just a few of his observations he made.

Whatever approach we follow and use, it all come back to CONSISTENCY in a simple approach and use that with DISCIPLINE. Over a long time and large number of trades, we will know the real results of the simple approach we adopt.

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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #117,623
  • Mar 15, 2021 7:54pm Mar 15, 2021 7:54pm
Quoting T4Trade
{quote} thanks for sharing invaluable information and guided to the posts,your generosity is immense.Dravas box strategy by Dravas is to be used on weekly chart and breakout of the chart may take several months.we can simply use Master candle on 52 weeks line ? Do u have any other better ideas? Edit: https://www.forexfactory.com/thread/...63#post8886763 says we not need to use dravas box.

Nicola Darvas was trading the stock markets and he used the 52-weeks as one of his rule.

Here we are trading the retail spot forex, we do not a 52-weeks rule. We can see the Price Action and the Darvas Box highs and lows on our charts be that H4, Daily and Weekly. I posted the chart example by the Op Big E #4231
You can observe the price action in this chart example and see the highs and lows and and the breakouts of the DB highs when the market is bullish trending.
The previous PA highs and lows are the same swing high and swing low mentioned in his old thread.

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Your question : "Do u have any other better ideas?"

Yes, follow Post#647 and learn to apply that with simple rules. Do Not trade when in or near a CONSOLIDATION. Pick only pairs that have the potential to breakout and trend.
For medium to long term swing trading, follow the Weekly, Daily and H4. Use anything timeframes below H1, for example I use M15 and M5 for entry signals for trad automation.
Develop a System Strategy based on Money Management - Make your money work harder for you ... Cut-Losses short and Let Profits run.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #117,624
  • Mar 15, 2021 8:36pm Mar 15, 2021 8:36pm
Do you trade such price action?

AUDJPY Mar16 H4

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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #117,625
  • Mar 16, 2021 2:23am Mar 16, 2021 2:23am
eu h1 sell. protected.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #117,626
  • Mar 16, 2021 4:31am Mar 16, 2021 4:31am
TMS Monitor Mar16 H4 London 9am New York 5AM

- a few H4 alerts to consider

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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #117,627
  • Mar 16, 2021 4:33am Mar 16, 2021 4:33am
took this on H4,,taken 1/2 and leaving the balance at b/e and target
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the cautious seldom err....C
  • #117,628
  • Mar 16, 2021 4:38am Mar 16, 2021 4:38am
Quoting Inthebox
eu h1 sell. protected. {image}

good that you got your trade moved to BE+ very quickly...

the price action was chopping for hours and that is sign the H4 was in consolidation or what the Op Big E would say PA is 'resting' and the 5EMA is flat.

wait for an event to will move EU again.

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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #117,629
  • Mar 16, 2021 4:38am Mar 16, 2021 4:38am
I'm also short both NU and AU on H4
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the cautious seldom err....C
  • #117,630
  • Mar 16, 2021 4:44am Mar 16, 2021 4:44am
Quoting emmanuel7788
{quote} good that you got your trade moved to BE+ very quickly...
yes. i can't ignore the 3 day support. still selling if price does not close above asia high.
ITB - Seeing Orderliness amongst 'Randomness'
  • #117,631
  • Mar 16, 2021 6:22am Mar 16, 2021 6:22am
Quoting emmanuel7788
{quote} Nicola Darvas was trading the stock markets and he used the 52-weeks as one of his rule. Here we are trading the retail spot forex, we do not a 52-weeks rule. We can see the Price Action and the Darvas Box highs and lows on our charts be that H4, Daily and Weekly. I posted the chart example by the Op Big E #4231 You can observe the price action in this chart example and see the highs and lows and and the breakouts of the DB highs when the market is bullish trending. The previous PA highs and lows are the same swing high and swing low mentioned...
Develop a System Strategy based on Money Management - Make your money work harder for you ... Cut-Losses short and Let Profits run.

Inserted Video
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #117,632
  • Mar 16, 2021 6:53am Mar 16, 2021 6:53am
Quoting Inthebox
eu h1 sell. protected. {image}
please publish the screenshot in full so that you can see the currency pair. thank.
Trading has been and always will be, a hard way to make an easy living.
  • #117,633
  • Mar 16, 2021 7:12am Mar 16, 2021 7:12am
please someone open the telegram group,so we can discuss more often because its more user friendly.if there is already ,plz share it or if traders are agreeing and trading TMS and want to come together,i will open the group ?
  • #117,634
  • Mar 16, 2021 7:22am Mar 16, 2021 7:22am
Gold market conditions is not good. Wait for good move.
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MA provides the market's current direction and strength.
  • #117,635
  • Mar 16, 2021 7:31am Mar 16, 2021 7:31am
Quoting Boobligoom
{quote} please publish the screenshot in full so that you can see the currency pair. thank.
i stated eu h1 = EURUSD H1.
ITB - Seeing Orderliness amongst 'Randomness'
  • #117,636
  • Mar 16, 2021 7:45am Mar 16, 2021 7:45am
Quoting Inthebox
eu h1 sell. protected. {image}
eu m30 sell again. price turned down around rn 1.1950.
protected due to bad us retail sales.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #117,637
  • Mar 16, 2021 8:59am Mar 16, 2021 8:59am
result.
do not understand the us retails sales news and the surge downwards.
note the previous month low.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #117,638
  • Mar 16, 2021 10:51am Mar 16, 2021 10:51am
Yesterday was first day of my funding talent account trading. First day was not good I end the day will loss. I was afraid to open good trade, Took lot of bad trade. I kind of over trade. when little profit I see I close the trade that is way I kind of kill my good trade and my bad trades hit stop. I open few recover trade those are increase my loss. Today when gold started to move I Make nice profit. self confidence is important. I hope I will pass the challenge with in the time limit. I have to be positive. when negativity come I have to remove it for passing the challenge. we trade our believe about the market.
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MA provides the market's current direction and strength.
  • #117,639
  • Mar 16, 2021 7:33pm Mar 16, 2021 7:33pm
EURUSD Mar17 Daily

- Price Action sell setup

- use Money Management strategy

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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #117,640
  • Mar 16, 2021 7:48pm Mar 16, 2021 7:48pm
Quoting emmanuel7788
EURUSD Mar17 Daily - Price Action sell setup - use Money Management strategy {image}
EURUSD MN Swing Levels

- its not going to smooth between 1900 and 1788

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EURUSD Big Picture

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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
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