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

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Trading Made Simple(r)

  • #6,621
  • Mar 17, 2021 5:49pm Mar 17, 2021 5:49pm
Quoting MalvernTrust
Mr.abokwaik looks like already made an EA with these set of rules. EA location : https://www.forexfactory.com/thread/...4#post12460894
Thanks! I'll have a look. My approach has always been, I need to understand how things work behind the scene (indicators). Otherwise how can I trust them? I'm already intrigued now, because I cannot understand how the stochastic smma calculates its values.
  • #6,622
  • Mar 17, 2021 7:25pm Mar 17, 2021 7:25pm
Quoting cristeam
{quote} No, same as RobinHood who is trading now mainly stocks, I would like to use this system outside MT4, to cover other assets as well. On the other side, let's be honest, MT4 is an old platform, nothing wrong with it, it still does the job perfectly, but for me, it's much easier to monitor charts in TrandingView for example. So to break this task in multiple steps, there are various things which can be done, independent from each other. Personally, I would love to have the indicators and create a template for TradingView. But the main thing...
That makes sense to me and thanks for the clarifications. All the best Cristeam
  • #6,623
  • Mar 20, 2021 7:08am Mar 20, 2021 7:08am
My 3rd week using TMS(r), not a profitable week for my 12 selected pairs. Seemed they are in retrace on the Daily trend. This week: -1.16% (calculated from initial balance 5k USD on demo account), no floating. Each position open with max 1% risk and split into identic 3 lot size. Overall from 1 March +5.15%.
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  • #6,624
  • Mar 20, 2021 12:34pm Mar 20, 2021 12:34pm
Quoting etheldreda
My 3rd week using TMS(r), not a profitable week for my 12 selected pairs. Seemed they are in retrace on the Daily trend. This week: -1.16% (calculated from initial balance 5k USD on demo account), no floating. Each position open with max 1% risk and split into identic 3 lot size. Overall from 1 March +5.15%. {image}
There is no winning without some losing, especially in trading.

I have plenty of losing weeks, but I still make many, many multiple times my starting balance each year by the end of the year.

Stick to your trading plan. It was responsible for making you money, and unfortunately, sometimes it will also be responsible for losing you some money.
Always a Student, Never a Master - Emulate What Works
  • #6,625
  • Mar 20, 2021 7:14pm Mar 20, 2021 7:14pm
I want to share 1 new entry method and 1 new exit method that I have not discussed here before.

These 2 new entry and exit methods are not perfect, no entry or exit methods are, but, I think this exit method will really simplify Exits for some traders...should they choose to use it.

Look at this 4 hour chart:

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1. The green boxes in the image above represent the long trades.

2. The red boxes in the image above represent the short trades.

Here's how it works:

ENTRIES

There are 2 types of entries - one old (# 1) and one new (# 2).

1. The way we enter now (the 2 Stochastics and the RSI crossing the Purple 50 Line).

2. The new way...whenever either Stochastic turns from a gray line to blue or green for long trades OR red or orange for short trades.

WHICHEVER entry type happens first is the entry you take.

* The trades are marked on the chart telling you which type of entry it is.


EXITS

For long trades, you exit whenever the blue or green Stochastic line turns back to a gray line first.

For short trades, you exit whenever the red or orange Stochastic line turns back to a gray line first.
Always a Student, Never a Master - Emulate What Works
  • #6,626
  • Mar 20, 2021 8:16pm Mar 20, 2021 8:16pm
Quoting RobinHood
I want to share 1 new entry method and 1 new exit method that I have not discussed here before. These 2 new entry and exit methods are not perfect, no entry or exit methods are, but, I think this exit method will really simplify Exits for some traders...should they choose to use it. Look at this 4 hour chart: {image} 1. The green boxes in the image above represent the long trades. 2. The red boxes in the image above represent the short trades. Here's how it works: ENTRIES There are 2 types of entries - one old (# 1) and one new (# 2). 1. The way...
Great, let me try this, are we completely ignore RSI !? Also I don't see MA5 and HMA12 in the charts, discord these too !? Then its completely purely based on Stochastics.

Another observation from my end Stochastic 15,5,5 working well than others.
  • #6,627
  • Mar 20, 2021 8:17pm Mar 20, 2021 8:17pm
Quoting RobinHood
I want to share 1 new entry method and 1 new exit method that I have not discussed here before. These 2 new entry and exit methods are not perfect, no entry or exit methods are, but, I think this exit method will really simplify Exits for some traders...should they choose to use it. Look at this 4 hour chart: {image} 1. The green boxes in the image above represent the long trades. 2. The red boxes in the image above represent the short trades. Here's how it works: ENTRIES There are 2 types of entries - one old (# 1) and one new (# 2). 1. The way...
Thank you for your sharing I am always here to follow all of your posts. I have a question with the new input method is candle counting necessary or we just need to see Stoch change color as you say. Candlestick counts only enter when the 1-2 -3 candlestick crosses the EMA5.
  • #6,628
  • Mar 20, 2021 8:44pm Mar 20, 2021 8:44pm
Quoting RobinHood
{quote} There is no winning without some losing, especially in trading. I have plenty of losing weeks, but I still make many, many multiple times my starting balance each year by the end of the year. Stick to your trading plan. It was responsible for making you money, and unfortunately, sometimes it will also be responsible for losing you some money.
Yes, thank you for the wisdom RobinHood. Will try my best to stick to the trading plan. So far I like the H4 period. I avoided H4 before because I was focus to the SL pip. Now with the risk management in percentage per position, I find it is okay to trade H4.
  • #6,629
  • Mar 20, 2021 8:55pm Mar 20, 2021 8:55pm
Quoting MalvernTrust
{quote} Great, let me try this, are we completely ignore RSI !? Also I don't see MA5 and HMA12 in the charts, discord these too !? Then its completely purely based on Stochastics. Another observation from my end Stochastic 15,5,5 working well than others.
We are still using everything. I only removed almost everything from the upper chart so that I could present the new methods without any unnecessary visual distractions. I simply added a new entry method and a new exit method.

Here's Some of What I wrote in Post # 1...

The two templates that I am providing have evolved over the course of more than a decade. And, they may continue to evolve even more over time if we find useful things to add or change. Nothing here is set in stone, EXCEPT my way means always trading with the trend, and that means: at the start of what appears to be a new trend, or the resumption of a previous trend.

I will start off for now by explaining just two of the ways that I trade using the templates, but I suspect that over time other traders here will expose some of the other ways they discover, as will I also.

What you must understand is that what's presented, as it's presented, is NOT a trading system. A system has concrete rules with no variables. Methods don't. What I am presenting are trading methods, tips, and suggestions. Multiple trading methods about ways to enter and exit trades (with others likely to follow). The only concrete rules there are, are the ones that you decide to make and follow.
Always a Student, Never a Master - Emulate What Works
  • #6,630
  • Mar 20, 2021 8:59pm Mar 20, 2021 8:59pm
Quoting Jonhathan123
{quote} Thank you for your sharing I am always here to follow all of your posts. I have a question with the new input method is candle counting necessary or we just need to see Stoch change color as you say. Candlestick counts only enter when the 1-2 -3 candlestick crosses the EMA5.
Using the entry method I just explained...

2. The new way...whenever either Stochastic turns from a gray line to blue or green for long trades OR red or orange for short trades.

So no counting candlesticks.
Always a Student, Never a Master - Emulate What Works
  • #6,631
  • Mar 20, 2021 9:15pm Mar 20, 2021 9:15pm
Quoting RobinHood
{quote} Using the entry method I just explained... 2. The new way...whenever either Stochastic turns from a gray line to blue or green for long trades OR red or orange for short trades. So no counting candlesticks.
I will add a new method this probably used to open a new position after entering method 1 like the string you shared. You trading advice can really write a book on trading psychology. It helps me a lot, sir. I am very grateful to you.
  • #6,632
  • Mar 21, 2021 7:09am Mar 21, 2021 7:09am
Quoting Jonhathan123
{quote} I will add a new method this probably used to open a new position after entering method 1 like the string you shared. You trading advice can really write a book on trading psychology. It helps me a lot, sir. I am very grateful to you.
Thank you. I am glad to know that I have helped at least a few other traders, including you.
Always a Student, Never a Master - Emulate What Works
  • #6,633
  • Mar 21, 2021 9:51am Mar 21, 2021 9:51am
Quoting RobinHood
I want to share 1 new entry method and 1 new exit method that I have not discussed here before. These 2 new entry and exit methods are not perfect, no entry or exit methods are, but, I think this exit method will really simplify Exits for some traders...should they choose to use it. Look at this 4 hour chart: {image} 1. The green boxes in the image above represent the long trades. 2. The red boxes in the image above represent the short trades. Here's how it works: ENTRIES There are 2 types of entries - one old (# 1) and one new (# 2). 1. The way...
Hello RobinHood.

I have to say I’m very excited to see some updates I have been waiting for for so long.

Looking at a new method that you just presented my first thought was that if you enter a trade using #1 then it can be possible to add to that trade should you get #2 signal as a confirmation.

I was also watching the thinner stochastic line as a signal for exits confirmation whenever it crosses back 60 for buys or 40 for shorts. Just didn’t spend much time on it.

Thanks again and keep it up please.
I’m pretty sure there might be others like me who don’t post much but watch for all your posts very closely.

GBU
Go big or go home
  • #6,634
  • Mar 21, 2021 12:09pm Mar 21, 2021 12:09pm
Quoting RobinHood
{quote} We are still using everything. I only removed almost everything from the upper chart so that I could present the new methods without any unnecessary visual distractions. I simply added a new entry method and a new exit method. Here's Some of What I wrote in Post # 1... The two templates that I am providing have evolved over the course of more than a decade. And, they may continue to evolve even more over time if we find useful things to add or change. Nothing here is set in stone, EXCEPT my way means always trading with the trend, and that...
Awesome and Thank you very much RH for your detailed explanations. Seems like we can avoid more SL and many quick and Small TPs possible in the new method of entries and exits,

Thanks again.
  • #6,635
  • Mar 21, 2021 12:21pm Mar 21, 2021 12:21pm
Quoting Deminsib
{quote} Hello RobinHood. I have to say I’m very excited to see some updates I have been waiting for for so long. Looking at a new method that you just presented my first thought was that if you enter a trade using #1 then it can be possible to add to that trade should you get #2 signal as a confirmation. I was also watching the thinner stochastic line as a signal for exits confirmation whenever it crosses back 60 for buys or 40 for shorts. Just didn’t spend much time on it. Thanks again and keep it up please. I’m pretty sure there might be others...
Thank you for your comments.

Now see, you thought of something very interesting that I never did. A way to get in TWICE, in 2 different ways, near the start of a possible new trend. Well done!

Again, that's why I wrote in Post # 1 this:

"I will start off for now by explaining just two of the ways that I trade using the templates, but I suspect that over time other traders here will expose some of the other ways they discover, as will I also"

I am proud of the fact that there have been many contributions here by other traders...and very few conflicts. For anybody whose is well familiar with lots of threads on FF. Over the course of the 332 pages so far in this thread, that's really saying something!! LOL!
Always a Student, Never a Master - Emulate What Works
  • #6,636
  • Mar 21, 2021 12:26pm Mar 21, 2021 12:26pm
Quoting MalvernTrust
{quote} Awesome and Thank you very much RH for your detailed explanations. Seems like we can avoid more SL and many quick and Small TPs possible in the new method of entries and exits, Thanks again.
You're welcome!

These new methods may not make a fortune per trade (on a 4 hour chart), but it makes it really easy for newer traders to have an easy way to get in, and an easy way to get out without having to ponder it too much.
Always a Student, Never a Master - Emulate What Works
  • #6,637
  • Mar 21, 2021 1:05pm Mar 21, 2021 1:05pm
Totally agreed, I just checked few Charts its pretty amazing, Brilliant RH. Any suggestions on HTF, I think we can just stick with the current time frame still profitable.
  • #6,638
  • Edited 2:16pm Mar 21, 2021 1:57pm | Edited 2:16pm
Quoting MalvernTrust
Totally agreed, I just checked few Charts its pretty amazing, Brilliant RH. Any suggestions on HTF, I think we can just stick with the current time frame still profitable.
From the pairs that I have looked at so far, it also looks good on the Daily and Weekly charts.
Always a Student, Never a Master - Emulate What Works
  • #6,639
  • Mar 21, 2021 5:15pm Mar 21, 2021 5:15pm
Quoting RobinHood
{quote} From the pairs that I have looked at so far, it also looks good on the Daily and Weekly charts.
Thank you RH, Lets hope for the best :-)
  • #6,640
  • Mar 21, 2021 8:20pm Mar 21, 2021 8:20pm
Silver Short entered based on H1 new Stochastic color based entry method and H4 old confirmation. Also contra crowd is a perfect hedge. When Stochastic color changes, I will exit.
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