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Trading Made Simple

  • #119,941
  • Jun 4, 2021 8:56am Jun 4, 2021 8:56am
Quoting sathishkbala
Hi tommydoginti, hasib, Many thanks for your feedback & valuable suggestions. Yes I know EA was not part of this thread, but then, since the thread was about Trading Made Simple.. I thought I will share my idea... being a rookie... I am neither allowed to like or directly reply to your threads... FF doesnt allow... the previous post was my first post... So hope u guys dont take it otherwise, if my post was Off Topic.. Regarding Grid & Martingale, yeah, infact, I dont want to trade these strategies.. but most EAs available in market or from some...
Hi

If you are interested in a dashboard go here.

An alternative is here and you can also get the coders info in the mq4 file to contact them.

Trade well / Mos
Don't limit yourself!!
  • #119,942
  • Jun 4, 2021 10:03am Jun 4, 2021 10:03am
Quoting tommydoginti
{quote} GU Buy at TDI green cross red {image}{image}
After Big RR trading the news.

Scalped the reaction.

have a nice weekend.

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  • #119,943
  • Edited 3:17pm Jun 4, 2021 10:17am | Edited 3:17pm
Quoting sathishkbala
hi Fellow Traders, Greetings of the day.! I have been doing manual trading & EA trading for a little less than 4 months now... (so i m quite new to this).. in this short time, i learnt MQL coding, I did my first script too (I am not a coder by the way, I am an Automobile engr and in that core profession). this script, i run it at the end of week session, to download the history data of a set of 30 pairs (which i follow), to analyse the market movement... basically all these are potential PIP profits (Sky is the limit right).. I know this is a Whole...
I suggest that you not waste more time with MQL but instead, try NinjaTrader 's NinjaScript or cTrader's cAlgo.

In fact, you will be amazed at how easy it is to create custom alerts, even complex ones with multiple conditions, without having to do any coding.

And not to forget to mention custom timeframes, a quality backtester, and much, much more.
To free Gazans of Hamas, use whatever it takes.
  • #119,944
  • Jun 4, 2021 10:40am Jun 4, 2021 10:40am
One thing I can share from my years of forex trading experience.

When you have a successful trading on small account and want to apply the same rules to the big account.

Lets say from 1000 USD successful account now you want to move to 10000USD OR 20000USD.

The main issues is phycological burden dealing with big account. As a human being naturally are not indifferent towards money. Good way is to use only % terms for profit and loss but still its very taxing thing.

One of my students started using a tool called forex copier where you can copy and scale the trade from one account to another. From his 1000 USD live account he is copying and scaling his all trades by 10 times to his another live 10000 USD account and he so far removed his fear of dealing with big account.

We are calling this is as "SCALING SYNDROME"

have a look on the web page if it helps.
https://forexcopier.com/

Regards Tushar
  • #119,945
  • Jun 4, 2021 10:41am Jun 4, 2021 10:41am
Quoting tommydoginti
{quote} GU Buy at TDI green cross red Update: 8.4R after spread {image}{image}
Some additional fundamental analysis to supplement this 8.4R trade, are the red news today, forecast and actual, were favouring USD Drop.

There are academic studies explain in detail why the latest labor market condition in US is the more likely causing USD to drop than raise

One of the reference thesis I read. Something for weekend if have time

https://commons.ln.edu.hk/cgi/viewco...ntext=econ_etd
  • #119,946
  • Jun 4, 2021 10:46am Jun 4, 2021 10:46am
Quoting DrDave
{quote} Well, when a person doesn't understand the inter-relationships between the TFs, he cannot understand that the XAUUSD H4 is OVERDUE to go up now that it has painted the downswing of the H16. M15 has already confirmed trying to end theH16 downswing with a swing up, a pullback, and an up continuation that could have been bought. But most folks, even though they have no winning system, reject anything that does not fit into their "comfort zone" analysis methods, and instead jump from one hyped (failng) system to another.
the XAUUSD H4 is OVERDUE to go up now

IMT tells you what is most likely to happen. Then you can look for the TDI green cross red and evaluate if there is an entry.
No EAs required!
The white Vline is about where I said that the H4 is overdue to go up. And of course, change comes from the bottom and moves upward.
The green dashed Vline is the entry bar. (Actually, the green cross red is confirmed on the close of the blue bar that is 2 bars back. But I want to see a convincing move out of the consolidation, which was not until the close of the following bar.)
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To free Gazans of Hamas, use whatever it takes.
  • #119,947
  • Jun 4, 2021 12:07pm Jun 4, 2021 12:07pm
Quoting tush1822
One thing I can share from my years of forex trading experience. When you have a successful trading on small account and want to apply the same rules to the big account. Lets say from 1000 USD successful account now you want to move to 10000USD OR 20000USD. The main issues is phycological burden dealing with big account. As a human being naturally are not indifferent towards money. Good way is to use only % terms for profit and loss but still its very taxing thing. One of my students started using a tool called forex copier where you can copy and...
Tushar I agree with you.
MA provides the market's current direction and strength.
  • #119,948
  • Jun 4, 2021 2:35pm Jun 4, 2021 2:35pm
A Time to Trade and a Time to Study
While the indicator hype has far from run its course, more and more traders are coming to see the virtues of the "less is more" philosophy. And with reason. There is something strikingly serene about a chart stripped down to the bare essentials. There are no riddles to decipher, no conflicting signals to evade, there is nothing cluttering up the screen. It's all about facts-and they are out in the open. The bars in the chart hold nothing back, nor will their message ever lag behind. With these benefits in mind, the price action trader adheres to a very simple premise: if a high-odds trade cannot be spotted straight off the chart, it is just no! there. Still and all, without a proper understanding of market mechanics, no trader of any kind is likely to escape the notorious lessons of the market and the costly fees that come with it. The journey through the learning stages is never an easy process and there will be pain and hardship along the way. Chances are, quite a few will never surpass this dreaded stage of initiation. On the good side, there is a lot a trader can do to increase his chances of survival, and at little cost to boot: in a nutshell, he needs to educate himself properly. Bear in mind, this is not to suggest that all can be taught from the drawing board; it merely serves to stress the importance of preparation. If the goal is indeed to survive in a field where so many others have perished before their time, how can it not pay to enter well prepared from the outset.
It is up to the student how long to commit to the safety of the sidelines. For some it may take several months of reviewing the same old principles over and over again, for others the light may turn green much sooner than that. But even when all the concepts and techniques are starting to make perfect sense, aspiring traders are well advised not to delve into the markets without a solid plan in place. Lessons need to be learned, but there is little point in allowing one's auditions to be unnecessarily costly or self-defeating. Next to jumping in headfirst, hurriedly adopting a third party method, just to get going, is another popular practice among many new entrants. But when applied as a mere shortcut to education, this approach, too, is not likely to hold up in the line of duty, particularly when the current market environment proves unfavorable to the chosen method in question. The preferable route, by far, is to always put ample time and effort into constructing a personal methodology, suited for all seasons, and devoid of the vagaries and whims of third party discretion. Although a fully functional and standalone method will be offered in the chapters ahead, and referred to as "our" methodology, please understand that this is done so for practical purposes and not to suggest that the reader should obligingly apply whatever is put forth. The concepts and techniques, of course, can serve as a structural groundwork for any customized method. It may take some time and experimenting to find out what style of trading suits a trader best. But regardless of personal preference, all techniques should at least harbor the same objective, which is to exploit repetition. The first task, therefore, for any student, is to build up a mental database of price action principles in action. In the following two chapters we will have a close look at these essentials, from both a theoretical and practical point of view. From there on, our focus will be on the finer subtleties of trading the 5-minute chart.
MA provides the market's current direction and strength.
  • #119,949
  • Jun 4, 2021 4:00pm Jun 4, 2021 4:00pm
Quoting emmanuel7788
Jun 04 H1 New York Open - how many setup alerts for you in your day-trading plan? - one of my favourite is Bullish/Bearish Engulfing Outside Bar. {image}
If you want to trade like a sniper and pick tops and bottoms,

learn a few tricks from the TMS old timers.

Wait for the ADR to get hit and turned red.... then pick the top!

then trade 5min MOMO with the old fashioned "Yellow Brick Road".

Attached Image (click to enlarge)
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Attached Image (click to enlarge)
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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #119,950
  • Jun 4, 2021 4:12pm Jun 4, 2021 4:12pm
Quoting emmanuel7788
Jun 04 H1 New York Open - how many setup alerts for you in your day-trading plan? - one of my favourite is Bullish/Bearish Engulfing Outside Bar. {image}
Attached Image (click to enlarge)
Click to Enlarge Name: TMS Monitor Jun 04 H1 NYOpen GU pick BUEOB.png Size: 52 KB


GU Jun 04 H1 New York Open

- Price Action setup BUEOB

- how many Rs profits depends on you ... your trade management exit strategy and your mental fitness as the trader.

Attached Image (click to enlarge)
Click to Enlarge Name: GU Jun 04 NYOpen BUEOB 5-6-2021 5-08-10 am.png Size: 57 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #119,951
  • Jun 4, 2021 4:21pm Jun 4, 2021 4:21pm
Quoting eelfranz
Guys.... /Starting out you should be 60-65% successful. Within 1 to two months you should be 70-80% successful.. IF... you follow the simple rules and simple exits... 3-6 months... 85% successful. Don't complicate it... keep it simple. Buy your wheel barrow.. I never knownly take a draw back of 40-50 pips even on the 4hr. I generally exit at 10-15 pips to keep my profit and I'll re-enter when it turns back. If it happens when I'M SLEEPING... SO WHAT ... I never know about it... S/L at last HH or LL. It turns out in my favor most of the time. I lose...
Having another losing week?

#495 Apr 29, 2011

"Starting out you should be 60-65% successful. Within 1 to two months you should be 70-80% successful.. IF... you follow the simple rules and simple exits... 3-6 months... 85% successful. Don't complicate it... keep it simple. Buy your wheel barrow.."

The OP made it sound so simple yet many traders after 6 months still paying the market tuition fees ....
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #119,952
  • Jun 4, 2021 4:37pm Jun 4, 2021 4:37pm
Quoting sathishkbala
@emmanuel 7788... that image is an awesome dashboard.. is that some kind of EA.. is it available for sharing with mql source code... because, i m thinking of developing something similar with additional info like Balance, available Margin, net profit / loss float, number of sell & buy trades count in each pair.. {image}

this post in that thread by arbinka, otherwise you will get lost in all the new changes he added with his other dashboard.
Post#193
https://www.forexfactory.com/thread/...68#post8753868


if you want other info like Balance, available Margin, net profit / loss float, number of sell & buy trades count etc. there are other tools, some are indicators not expert advisor.

look for Trade Report, iExposure, etc. in this thread attachments.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #119,953
  • Jun 4, 2021 4:50pm Jun 4, 2021 4:50pm
PM Q&As

- once again members are quick on their keyboards asking without doing their own research

What is 5Min MOMO?

here :

https://www.investopedia.com/article...p#whats-a-momo

has been around for 20 years since MACD was ...

Q. how can I use it for trading Big E' 5-Method?
YES. be innovative when you want to make good entries and multiple entries add-ons. Be creative how you use the MACD.
You can set your MACD(2,13,7) to replicate the TDI.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #119,954
  • Jun 4, 2021 7:57pm Jun 4, 2021 7:57pm
PM Q&As

- several members asked about the use of the 5LWMA cross 5EMA is the TMS_V19 EA settings

- also which is better? 5LWMA/5EMA is better or the PAC 5SSMA High-Low is better

Answer:

1) the 5LWMA cross 5EMA was used by some members in 2010 and 2011 as setup filter for Price Action REVESAL.

2) the Price Action Channel 5SMMA high-low has different usage and rules.

But both the 5LWMA/5EMA and 5SMMA Hi-lo can be use to pick the best setups, and the PAC can also be used in trade management, for example placing stop loss, trailing SL, and for exit when the PA HA candle closes inside the PAC.

Attached Image (click to enlarge)
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Attached Image (click to enlarge)
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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #119,955
  • Jun 4, 2021 8:01pm Jun 4, 2021 8:01pm
Quoting emmanuel7788
PM Q&As - several members asked about the use of the 5LWMA cross 5EMA is the TMS_V19 EA settings - also which is better? 5LWMA/5EMA is better or the PAC 5SSMA High-Low is better Answer: 1) the 5LWMA cross 5EMA was used by some members in 2010 and 2011 as setup filter for Price Action REVESAL. 2) the Price Action Channel 5SMMA high-low has different usage and rules. But both the 5LWMA/5EMA and 5SMMA Hi-lo can be use to pick the best setups, and the PAC can also be used in trade management, for example placing stop loss, trailing SL, and for exit...

Examples 5LWMA cross 5EMA

AU M15

Attached Image (click to enlarge)
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GU M15

Attached Image (click to enlarge)
Click to Enlarge Name: GU M15 5LWMA cross 5EMA 5-6-2021 9-02-09 am.png Size: 42 KB


system development using Big E' 5-Method and "fine-tune" your entry and exit rules!


Big E : "you can trade without the TDI"

#3044 Jan 20, 2011

#3103 Jan 26, 2011

#3418 Feb 12, 2011

#2617 May 16, 2011

#296 Nov 4, 2008

he also shared these
#681
using an RSI (13) with a 50% line

#504
use a RSI(3)
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #119,956
  • Jun 4, 2021 8:20pm Jun 4, 2021 8:20pm
Quoting emmanuel7788
{quote} reminder: we look for the next 4H Swing Trade with 9R potential it has not started yet. Yesterday was just the 'teaser' to help me build up some profits for this next big one. Keep on stalking and also look at other pairs too. EU Jun 04 at Tokyo 8am {image} GU Jun 04 at Tokyo 8am {image} Last 2 days were good to make some profits for the coming next 4H Swing Trade 9R. {image} Trade Well Folks.

Reminder: we look for the next 4H Swing Trade with 9R potential

it has not started yet. ...

..... stay tuned for Daily Tokyo Open 9am / London 1am / New York 8pm ...

meantime,

Do your weekend homework if you want to make your bonus for this year!

WTDA = Weekly Top Down Analysis of all currency pairs you want to look for this 9R profit trade. Know the Market Type conditions and trade according to the Market Type conditions using three trading systems developed using Big E' 5-Method.

Post your WTDA charts each with its own Big Picture.

You should be able to pick out 5 pairs out of the 25 pairs with 9Rs potential.

https://www.forexfactory.com/thread/...2#post13567512
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #119,957
  • Jun 4, 2021 8:35pm Jun 4, 2021 8:35pm
PM Q&As

- how to show other alerts in TMS_V19 EA?

Answer: You select ShowAllAlerts = True

CCi included ...

But be warned! You will be overwhelmed 'frozen' by all the technical set up conditions and you won't be able to make a simple trade decision.

Attached Image (click to enlarge)
Click to Enlarge Name: TMS V19 set all alerts to True.png Size: 141 KB

Remember , Big E was rule-based discretionary type trader. No EA will ever be able to trade the way he did. Unless, of course there is AI learning based systems.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #119,958
  • Jun 4, 2021 10:48pm Jun 4, 2021 10:48pm
Quoting emmanuel7788
PM Q&As - how to show other alerts in TMS_V19 EA? Answer: You select ShowAllAlerts = True CCi included ... But be warned! You will be overwhelmed 'frozen' by all the technical set up conditions and you won't be able to make a simple trade decision. {image} Remember , Big E was rule-based discretionary type trader. No EA will ever be able to trade the way he did. Unless, of course there is AI learning based systems.
I can see atr, adx, cci indicator info with tdi and stoch.
Very useful info.
MA provides the market's current direction and strength.
  • #119,959
  • Jun 4, 2021 10:57pm Jun 4, 2021 10:57pm
Quoting emmanuel7788
PM Q&As - once again members are quick on their keyboards asking without doing their own research What is 5Min MOMO? here : https://www.investopedia.com/article...p#whats-a-momo has been around for 20 years since MACD was ... Q. how can I use it for trading Big E' 5-Method? YES. be innovative when you want to make good entries and multiple entries add-ons. Be creative how you use the MACD. You can set your MACD(2,13,7) to replicate the TDI.
Hi emm
3, 10 OS done good work too. You and your students here can try.
As RH suggest hma 12/3 done good work too.
but I think 3 10 os is good one.
Hope it will help some people.
MA provides the market's current direction and strength.
  • #119,960
  • Edited 11:47pm Jun 4, 2021 11:36pm | Edited 11:47pm
Quoting emmanuel7788
{quote} {image} GU Jun 04 H1 New York Open - Price Action setup BUEOB - how many Rs profits depends on you ... your trade management exit strategy and your mental fitness as the trader. {image}
Be careful about picking tops and bottoms.
here is the reality of picking tops and bottoms.
Yes you can say it because of NFP. But it happen without the schedule news. again and again and again.

BTW Do you have !SM ADR weekly and Monthly version ?
If anyone have can share it here.
Attached Image (click to enlarge)
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MA provides the market's current direction and strength.
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