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Trading Made Simple

  • #118,681
  • May 11, 2021 7:40pm May 11, 2021 7:40pm
Quoting emmanuel7788
GBPUSD H4 May12 SYD 9am - I am not going to trade this crap no matter what the TDI green line does and the divergence thingy. - use my trading capital for better trades and trading hours - come back to the next 4hr new candle {image}
GBPUSD H1 May 12

Tokyo Open May12

- looking at the Daily candles, today possible for both buy and sell day-trading

- not my trading hours for this pair, but when this current active H1 closes this H4 candle, are you the risk taking type of trader?
- you can afford to make 2 mistakes Plan A and Plan B both fails, then you need a Plan C today.

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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #118,682
  • May 11, 2021 7:58pm May 11, 2021 7:58pm
AU May12 H4 TOK Open+1hr

- we have a H4 'big candle'

- we had many discussions on this type of candle before .. painting and re-painting, etc.


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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #118,683
  • May 11, 2021 8:03pm May 11, 2021 8:03pm
TMS Monitor May 12 Tokyo 10AM local

H4

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H1

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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #118,684
  • May 11, 2021 8:20pm May 11, 2021 8:20pm
Quoting hasib
Find YOUR style and concept, take the indicators for your needs and test it. Don't take random indicators without a concept and mess up your chart. You fail because you have no concept. Today I read this, After reading the sentence, I just realize I have to think differently. TMS work for BigE because it has certain concept that I don't have. TMS will not work for so many people here because they are missing the concept. A stupid looking system works for certain people may not works for others it is the reality of manual trading. when people say...

That is good for your development. Hope you will soon realise this aligns with all the advice people have been giving you. The people you have insulted in their face.
  • #118,685
  • May 11, 2021 8:47pm May 11, 2021 8:47pm
Quoting emmanuel7788
{quote} hi yahya11 Top priority is to look for another job and receive a regular salary. I know many people lost their jobs due to the pandemic affecting all industries. I have a family friend who lost his job as a commercial cargo pilot working in UK and Europe. He has return to NZ and found a job as long haul truck driver. You may have to consider jobs in other industries which you may not require your qualifications and experience, and lower your salary expectations. A job that will help you pay bills and living expenses is top most priority....
Thank you for a such a wounderfull guide. You are right Nala66 is my mentor, He teach me well but unfortunately i want reaults so early but as you mentioned it is time taking process. He traded only GBPUSD thats why i was searching for a metod work for all pairs but now i will continue with Nala66's method and learn BigE method too, i have to follow your guideline that you gave in this post
Thank you once again i will join successfull traders club one day and very soon inshaALLAH
  • #118,686
  • May 11, 2021 9:28pm May 11, 2021 9:28pm
Quoting hasib
{quote} Hi yahya11. I want to tell you 1. 1st stop live trading. Don't open live trading account until you triple your demo account balance with low acceptable DD (DD could be 5 to 10%) 2. Develop your trading concept, are you trend trader, are you reversal trader or are are you momentum trader, every methods has their weakness know them and decide yourself. 3. pick one instrument for learning, don't trade many instrument. if you trade gold trade gold if you trade stock index trade stock index. if you like to trade currency pair trade only currency...
I agree with most of your point but a bit curious about your point 1 in terms of goal setting.

300% growth with <10% DD is also very challenging considering the trading performance it has to get, or the time it needs.
There are threads in FF doing similar things and I see 2 major issue.

1) Risk Management is unrealistic. Say 10% DD is maximum allowance, then risking 5%+ each trade. Yes eventually one may succeed, just 5%/trade is not sustainable unless having a very high win rate strategy.
2) Time is opportunity cost. You can play safe and finally triple your account in demo, but how long it has to take. Some say 20% growth per year with a sustainable strategy is top-notch performance. That implies 6 years to triple account size. Should one choose to multiply P/L to shorten the time, then the problem in (1) comes again.

One alternative of goal setting is outrun the inflation, which is ~3-5% per year. In the first phase simply trade your way and find out your risk tolerance.
Then start trading demo/live following your risk tolerance and strategy, and see a few things: actual growth, max DD, and the Sharpe/Sortino ratio. Depending on the frequency of trades, preliminary result can be obtained in as short as 3 months. Then you can think about progression in trading with constant monitoring of the risk control. FF has the Trading Explorer that does the calculation to you. I also link my 2 accounts to keep track of the numbers.

Risk is the first thing to consider. Being profitable is the side effect of good risk management.
  • #118,687
  • Edited 11:18pm May 11, 2021 11:01pm | Edited 11:18pm
GU bounce trade back to support.

This ranging market is a golden chance for TDI crosses to shine. Study BigE's posts and see how to trade reversals & continuations.

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  • #118,688
  • May 11, 2021 11:06pm May 11, 2021 11:06pm
Quoting emmanuel7788
{quote} Today I took 3 trades based on the 4hr see Post#118,645 Just pick one from each of the 6 groups. Trade only the best setups. No best setups, no trade. Preserve trading capital and Do not overtrade. EurUsd, EurJpy and EurCad, all H1 trades and based on the 4hr H4 candle close. {image} {image} {image}
Very good brother! Yesterday I found the EC very nice but since it was below 200 EMA I was more wary of me compared to EU (price above 200 EMA).
Do you have any advice for me to put 200 EMA on my H1 chart + EMA 200 H4 as in the chart I am using below.
I have an order to shorten UJ, do you have any advice for this UJ order, bro?
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  • #118,689
  • May 11, 2021 11:45pm May 11, 2021 11:45pm
Quoting mistdraw28
{quote} Very good brother! Yesterday I found the EC very nice but since it was below 200 EMA I was more wary of me compared to EU (price above 200 EMA). Do you have any advice for me to put 200 EMA on my H1 chart + EMA 200 H4 as in the chart I am using below. I have an order to shorten UJ, do you have any advice for this UJ order, bro? {image} {image}

no selling UJ now as current H4 shows bullish MOMENTUM.

dynamic TDI green is 4.75 slope

currrent H4 will close in 15 minutes

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I have open buy positions H1 with TP1 +10pips

and THV CM CSTSL activated.
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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #118,690
  • May 12, 2021 12:16am May 12, 2021 12:16am
Quoting emmanuel7788
{quote} no selling UJ now as current H4 shows bullish MOMENTUM. dynamic TDI green is 4.75 slope currrent H4 will close in 15 minutes {image} I have open buy positions H1 with TP1 +10pips and THV CM CSTSL activated. {image}
So the 200 H1 and H4 EMAs are not that important when we trade intraday with the candle set to H1, tp + 10, + 25, + 35, right bro? So I will remove them.
  • #118,691
  • May 12, 2021 12:20am May 12, 2021 12:20am
Quoting yahya11
{quote}what is the disadvantage of high leverage my broker give 1:3000 leverage and also tell me regulated broker
disadvantage of high leverage
https://trustedforexbroker.online/th...forex-trading/
https://www.thehartford.com/business...eraged-finance
https://forums.babypips.com/t/the-pr...leverage/78718
https://www.cfdspy.com/leverage/disa...s-of-leverage/

Broker that gave you a leverage of 1:3000 is a scumbag. No wonder you lost so much money.
Did you checked with the regulated authority if broker is list with them and when was the last time a audit was done.
Did you do a google search to find any bad reviews about that broker, start with forexpeacearmy
  • #118,692
  • May 12, 2021 1:43am May 12, 2021 1:43am
Quoting emmanuel7788
{quote} no selling UJ now as current H4 shows bullish MOMENTUM. dynamic TDI green is 4.75 slope currrent H4 will close in 15 minutes {image} I have open buy positions H1 with TP1 +10pips and THV CM CSTSL activated. {image}
I believe if you do not use EAs that manages your trades based on fixed pip values, you would be more profitable
  • #118,693
  • May 12, 2021 2:03am May 12, 2021 2:03am
Quoting mistdraw28
{quote} So the 200 H1 and H4 EMAs are not that important when we trade intraday with the candle set to H1, tp + 10, + 25, + 35, right bro? So I will remove them.
The 10EMA, 50EMA and 200EMA are good to have on your trade planning charts.
All moving averages are derived from the market price hence they will eventually catch up with the price.
Price can move past the MAs as much as 20 to 50 pips depends on the pair and market liquidity.
What is important is to use them as dynamic 'support & resistance' and check for CONFLUENCE of other support&resistance like previous price action PPA swing highs/swing lows, BRN and RN 00 and 50 levels. Some traders use the pivots levels. I stopped using them.

This morning' H1 trades based on the market conditions Post#118,684
All trades closed in overall profits and added 28% to my daily goal. Now I work harder during the London session.

AU

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AJ

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UJ

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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #118,694
  • May 12, 2021 2:21am May 12, 2021 2:21am
Quoting emmanuel7788
{quote} The 10EMA, 50EMA and 200EMA are good to have on your trade planning charts. All moving averages are derived from the market price hence they will eventually catch up with the price. Price can move past the MAs as much as 20 to 50 pips depends on the pair and market liquidity. What is important is to use them as dynamic 'support & resistance' and check for CONFLUENCE of other support&resistance like previous price action PPA swing highs/swing lows, BRN and RN 00 and 50 levels. Some traders use the pivots levels. I stopped using them. This...
I just got an order to short EC at LO. Is it enough for ++++? Do you have any advice, brother? Look to the left it looks like it hasn't broken the low yet
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  • #118,695
  • May 12, 2021 2:35am May 12, 2021 2:35am
Important when day trading H1 charts

1) the Frankfurt Open and London Open candles are part of the H4 candle 1AM EST 10PM PDT

2) the H4 HA candle above / below the 5EMA is the direction of the PA

TMS Monitor May 12 H4 current

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TMS Monitor H1 at London Open

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Pick the best setup is what the OP talked about many times when he was trading.

I say pick the A+++ setups making sure the setup fulfils 10 things.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #118,696
  • May 12, 2021 2:41am May 12, 2021 2:41am
Quoting mistdraw28
{quote} I just got an order to short EC at LO. Is it enough for ++++? Do you have any advice, brother? Look to the left it looks like it hasn't broken the low yet {image}

ECad has good potential if you look at Monday Tuesday Daily candle (Mo Tu)

when PA break previous days lows there is room for down move.

FO H1 provide the bounce setup

there is room for TP1 TP2 TP3 and let market decide TP4 using THV CM features.

Attached Image (click to enlarge)
Click to Enlarge Name: ECad May12 H1 12-5-2021 3-38-35 pm.png Size: 57 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #118,697
  • May 12, 2021 3:18am May 12, 2021 3:18am
Quoting emmanuel7788
{quote} ECad has good potential if you look at Monday Tuesday Daily candle (Mo Tu) when PA break previous days lows there is room for down move. FO H1 provide the bounce setup there is room for TP1 TP2 TP3 and let market decide TP4 using THV CM features. {image}
You use EA THV when TP2 +25, Will you change your SL to Entry level?
  • #118,698
  • May 12, 2021 3:34am May 12, 2021 3:34am
Quoting mistdraw28
{quote} I just got an order to short EC at LO. Is it enough for ++++? Do you have any advice, brother? Look to the left it looks like it hasn't broken the low yet {image}
Mistdraw keep it simple.

TDI is on time every time.
Did TDI green cross red > Yes
- Green angle above/below 2/4 > Yes
Did Stoch confirm direction > Yes
Add post#647: When wanting to enter a TDI trade... take a moment first to observe basic 4x things... like:
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You have your answer already on the chart right on the screen in front of you,
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  • #118,699
  • May 12, 2021 3:54am May 12, 2021 3:54am
Quoting mistdraw28
{quote} I just got an order to short EC at LO. Is it enough for ++++? Do you have any advice, brother? Look to the left it looks like it hasn't broken the low yet {image}
Here is an example why no trade was placed.

Blue V-Line
TDI green cross red > Yes
Stoch confirm direction > No
Post#647 > Am I in or close to a consolidation area

Yellow V-line
TDI green cross red > No Green bounce Red
(The only exception is if green bounces off red and continues... it's ok to re-enter on the bounce)
Stoch confirm direction > No
Post#647 > Am I in or close to a consolidation area
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  • #118,700
  • May 12, 2021 4:02am May 12, 2021 4:02am
Quoting Tekkies
{quote} Here is an example why no trade was placed. Blue V-Line TDI green cross red > Yes Stoch confirm direction > No Post#647 > Am I in or close to a consolidation area Yellow V-line TDI green cross red > No Green bounce Red (The only exception is if green bounces off red and continues... it's ok to re-enter on the bounce) Stoch confirm direction > No Post#647 > Am I in or close to a consolidation area {image}

hey @Tekkies

- are your having another bad day trading?

TDI (Post#25) is late as always, never on time because it is a lagging indicator

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Price Action is leading ...

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