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

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Trading Made Simple(r)

  • #7,561
  • Feb 21, 2022 4:45am Feb 21, 2022 4:45am
[quote=RobinHood;13904223]{quote} I would like to PROVE that we have a former disgruntled poster who has started a thread and is telling lies about me.

RH
Those that know, know how. And don't need to prove anything.

  • #7,562
  • Feb 21, 2022 6:05am Feb 21, 2022 6:05am
RobinHood! don't get upset, we all here respect and admire you.


Green pips to all!
  • #7,563
  • Feb 21, 2022 2:43pm Feb 21, 2022 2:43pm
Quoting Michael.MSA
{quote} ... Here you go. Please let me know if you have any questions. {file} Regards ___________________ Michael.MSA
Hi Michael, many thanks for posting the Zip file for this template/indicators, the "market Price label" seems to be fixed on AUDCHF, do you have any answers to activating it ???.

Cheers,
Donald.
  • #7,564
  • Edited 10:15pm Feb 21, 2022 6:51pm | Edited 10:15pm
Quoting Coffeebuff
{quote} Hi Michael, many thanks for posting the Zip file for this template/indicators, the "market Price label" seems to be fixed on AUDCHF, do you have any answers to activating it ???. Cheers, Donald.
Hi Coffeebuff.
No problem. I have some subfolders in my indicators folder where I have indicators that I basically include on every chart. That's why the template didn't find the indicator. Well, the solution is: make a right-click with the mouse in the template, and open indicators.
What you see now, are the active indicators from this template. I'm sure the Market Price indicator is not included. That means you have to insert it now.

Open the MetaTrader4 Indicators folder,
Attached Image (click to enlarge)
Click to Enlarge Name: SetUp2.jpg Size: 120 KB


find the Market Price indicator and paste it into the template. On the picture in the attachment you can see the setup.
Attached Image (click to enlarge)
Click to Enlarge Name: SetUp.jpg Size: 208 KB

I hope it helps.

Regards
______________
Michael.MSA
Don't trade because you think you have to do something.
  • #7,565
  • Feb 22, 2022 3:28am Feb 22, 2022 3:28am
Quoting Michael.MSA
{quote} Grazie mille. Ho così tante cose belle. Ma quello che purtroppo non ho è tempo per fare trading, quando la Borsa di Londra è aperta di solito dormo. Quando la Borsa di New York apre, i ragazzi mi chiamano. Per questo motivo, sono sempre alla ricerca di un modo per fare trading in modo rapido e ragionevolmente sicuro. {image} {image}Questo è uno zoom dal primo. La linea verde è H4. La linea rossa è D1. Ho solo bisogno di cambiare. {image} Saluti ______________ Michael.MSA
Hi Michael, I like both the method you describe in # 7524 and those described in # 7539 including the one (all to try) with double dashboard and subsequent verification on the chart. I want to ask you if it is possible to know what parameters you assign to the SwingForce, SS.SupportResistence and Exclusive MTF.RSI indicators. For me it is important to make an excellent pre-selection (based on robust and reliable parameters on the TF vatios) before obviously going to the verification and eventually to the entry with TMSr) Thanks
  • #7,566
  • Feb 22, 2022 3:08pm Feb 22, 2022 3:08pm
Quoting filipasca
{quote} Hi Michael, I like both the method you describe in # 7524 and those described in # 7539 including the one (all to try) with double dashboard and subsequent verification on the chart. I want to ask you if it is possible to know what parameters you assign to the SwingForce, SS.SupportResistence and Exclusive MTF.RSI indicators. For me it is important to make an excellent pre-selection (based on robust and reliable parameters on the TF vatios) before obviously going to the verification and eventually to the entry with TMSr) Thanks
Hi filipasca.

Here you go. I send you the desired setups.

Attached Image (click to enlarge)
Click to Enlarge Name: MTF-RSI.jpg Size: 268 KB
Attached Image (click to enlarge)
Click to Enlarge Name: SR-1.jpg Size: 269 KB
Attached Image (click to enlarge)
Click to Enlarge Name: SR-2.jpg Size: 261 KB
Attached Image (click to enlarge)
Click to Enlarge Name: SwingForce.jpg Size: 283 KB

Regards
__________________
Michael.MSA
Don't trade because you think you have to do something.
  • #7,567
  • Feb 22, 2022 4:04pm Feb 22, 2022 4:04pm
Michael,
Quoting Michael.MSA
{quote} Hi filipasca. Here you go. I send you the desired setups. {image}{image}{image}{image} Regards __________________ Michael.MSA
Any chance to get the advanced siffdogg?
Thanks
Attached Image (click to enlarge)
Click to Enlarge Name: advanced.png Size: 101 KB
"Great Men are not born great, They Grow Great."
  • #7,568
  • Feb 22, 2022 4:46pm Feb 22, 2022 4:46pm
Quoting MyProfit
Michael, {quote} Any chance to get the advanced siffdogg? Thanks {image}
Hi MyProfit.

Here you go.
I don't know if you know, the RSI is always one time frame higher than your template. If you are using an H4 chart, the RSI should be D1.

Here you can activate it according to your needs. I did it like this and created an indicator for each time frame I use.
Attached Image (click to enlarge)
Click to Enlarge Name: M-E.jpg Size: 199 KB


Attached File(s)
File Type: ex4 Advanced MTF RSI_SiffDogg-D1.ex4   38 KB | 291 downloads
Attached File(s)
File Type: mq4 Advanced MTF RSI_SiffDogg-D1.mq4   24 KB | 357 downloads

Regards
________________
Michael.MSA
Don't trade because you think you have to do something.
  • #7,569
  • Feb 22, 2022 5:19pm Feb 22, 2022 5:19pm
Michael,
Thank you for the explanation, I remember you from the "Blancas" thread, great work with the CCI.. still in my "arsenal".. Could you code "EAs"?...
Thank You..
"Great Men are not born great, They Grow Great."
  • #7,570
  • Feb 22, 2022 8:33pm Feb 22, 2022 8:33pm
Quoting MyProfit
Michael, Thank you for the explanation, I remember you from the "Blancas" thread, great work with the CCI.. still in my "arsenal".. Could you code "EAs"?... Thank You..
Hi MyProfit.

Thank you very much.
No, I'm sorry. I can't program EAs.

Regards
______________
Michael.MSA
Don't trade because you think you have to do something.
  • #7,571
  • Feb 23, 2022 12:44am Feb 23, 2022 12:44am
Quoting RobinHood
I have something interesting that I want to share. As many of you know, I am currently mostly only trading stocks. The trading platform that I use to trade stocks is called TC 2000 (or more properly: Worden TC 2000). It has a scanner built into it called EasyScan where you can use any of their many prewritten trading conditions (criteria), or write your own, or even edit theirs and it will then scan every stock almost instantly and then show you a list of all of the stocks that meet your specific trading criteria. So as many of you know, my favorite...
I have tested your method very well. but I can't avoid the sideway. Do you mind if there is a way to avoid the side market?
  • #7,572
  • Feb 23, 2022 4:05am Feb 23, 2022 4:05am
Quoting RobinHood
{quote} Because one ma will not show me a Continuation Trade. It takes at least 3 ma's to show me my definition of a Continuation Trade (when using TC2000). Look at the yellow ma, that, along with 2-3 other ma's gives me the signal. {image} This set-up happens on every chart, and on every time frame, and on EVERYTHING that is traded using prices on a chart.
Hi RH

I have found your post very important. For last 2 months i mostly trade US stocks options (it is totally new area for me). I think that your idea can be implemented to options strategies.

If your stock screener can find only bullish stocks in correction period i can use cash secured naked put strategy on 1 or 2 weeks options.
If your stock screener can find only bearish stocks in correction period i can use cash secured call strategy on 1 or 2 weeks options.

1st problem:
How to choose right formula?
This is my thinking based on your post and screenshots. It let us find bull stocks in shallow price correction.

CLOSE IS BELOW EMA(3)
AND
CLOSE IS ABOVE EMA(21)
AND
EMA(3) IS below EMA(9)
and
EMA(9) is above EMA(21)
and
EMA(13) is above EMA(21)

For finding stocks in deeper correction we can use
CLOSE is below EMA(13)

2nd problem is to find stock scanner.
I have found few but all are paid. The only free and customable is StockFetcher. BUT it displays only 5 results in free version.

RH, do you think that criteria presented above are correct?
Attached Image (click to enlarge)
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  • #7,573
  • Edited 10:04am Feb 23, 2022 7:39am | Edited 10:04am
Quoting iwan73
{quote} Hi RH I have found your post very important. For last 2 months i mostly trade US stocks options (it is totally new area for me). I think that your idea can be implemented to options strategies. If your stock screener can find only bullish stocks in correction period i can use cash secured naked put strategy on 1 or 2 weeks options. If your stock screener can find only bearish stocks in correction period i can use cash secured call strategy on 1 or 2 weeks options. 1st problem: How to choose right formula? This is my thinking based...
2nd problem is to find stock scanner.
I have found few but all are paid. The only free and customable is StockFetcher.

RH, do you think that criteria presented above are correct?

1. You are on the right track FOR TRADING STOCKS (but those ema's are not the exact ema's that I use). Here's an important tip, you need more ema's. In total, you need to use at least 3 shorter lengths + 3 longer lengths, and each group of 3 is used together, like a micro group and a macro group. And, in some instances, I use 3 groups of 3. If you play with different settings in ema's groups, you will eventually come to see the purpose of doing this.

I was day trading yesterday, and here's what one of my charts looked like:

Attached Image (click to enlarge)
Click to Enlarge Name: Yesterday.PNG Size: 162 KB

* I removed the extra trade qualifier(s) from the chart that I use and just left some of the ema's I use to show some Continuation Trades.

** If I remember to do it, I will also post today's chart (after the market has closed) with the same ema's on them to show that this concept works every day (except during extremely choppy periods (where nothing works).

Which brings me to my next tip...you need to also add in one or more trade qualifiers along with the Ema's, such as: AND RSI(X) > Y Or Stochastics(X) > Y, Or MACD is XYZ, or, or, or, pick an indicator (or indicators) that you really like. Otherwise, you will have too many stocks on your list. By adding one or more qualifiers you shorten your list, and you usually get much better candidates to trade.

2. The screeners I use are paid also, but they're built into my trading platforms (TC2000, TradeStation & TradingView) that I already pay for, so for me I am not actually paying anything extra for them.

The best free screener that I know of is: Finviz ( https://finviz.com/screener.ashx ) but for $24.96/mo you can then access its really powerful features like: getting real time charts and the ability to back-test 100 technical indicators. BUT, I don't think that it has the ability to let you input your own code to test.

3. I guess that I have already just answered this question.

Regarding STOCKS, I hope everyone can understand and appreciate that I have spent nearly every day for the last 25+ years working on my trading in some form or fashion, and I can't just give others a fish, because what if it quits working, or you need to make some changes? So other traders are far better off if I teach them HOW to fish.

"People think that knowledge is power, but it's not, understanding is the real power"

Here's an interesting take on "knowledge is not power": https://medium.com/@cjgrasso/knowledge-is-not-power-298959beceb

My trading methods and concepts are not necessarily the best, but at least I have tried to give everyone here some tools and ideas that work well for me. I really hope that they also help others here because that was the always one of my 3 main reasons for starting this thread. The other two reasons being; to have a place where traders of a similar mindset can connect and interact, and where other traders can hopefully improve upon my ideas (that's how I benefit).

------------------------------------------

One last thing that I want to throw in...

One of the stocks that I day trade a quite a bit is Facebook.

Facebook stock is crashing (it's gone from $384 down to about $200 in the last 6 months), and it's crashing for numerous reasons...less users, lower future revenues predicted, lower future profits predicted, things Apple has done concerning privacy issues, and things Google is going to do concerning privacy issues, etc., etc., etc.


Attached Image (click to enlarge)
Click to Enlarge Name: Meta.PNG Size: 138 KB


So ironically, the CEO (Mark Zuckerberg) just recently changed the company name from Facebook to Meta Platforms. In Hebrew, meta means DEAD.
As in, Dead Platforms. You would think that with over 70,000 employees, at least one of them would have known Hebrew and would have told him BEFORE he did it.

You can't fix stupid.
Always a Student, Never a Master - Emulate What Works
  • #7,574
  • Feb 23, 2022 12:38pm Feb 23, 2022 12:38pm
I've asked this question, but I probably expressed myself wrong and didn't get the explanation.
Can someone tell me the logic behind stochs getting yellow? On the same level (early after 50-cross) they sometimes spark yellow and sometimes they don't. Is it somehow connected to them being above/below each other? Or their rate of change? Or do they spark a few candles back after they've reached an extreme condition indicating where the strong move was?
Attached Image (click to enlarge)
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  • #7,575
  • Feb 23, 2022 12:45pm Feb 23, 2022 12:45pm
Quoting RobinHood
{quote} 2nd problem is to find stock scanner. I have found few but all are paid. The only free and customable is StockFetcher. RH, do you think that criteria presented above are correct? 1. You are on the right track FOR TRADING STOCKS (but those ema's are not the exact ema's that I use). Here's an important tip, you need more ema's. In total, you need to use at least 3 shorter lengths + 3 longer lengths, and each group of 3 is used together, like a micro group and a macro group. And, in some instances, I use 3 groups of 3.
At some point of your trading career you have familiarized yourself with Guppy system, haven't you? Is that a similar approach?
  • #7,576
  • Feb 23, 2022 1:15pm Feb 23, 2022 1:15pm
Quoting oohoo
I've asked this question, but I probably expressed myself wrong and didn't get the explanation. Can someone tell me the logic behind stochs getting yellow? On the same level (early after 50-cross) they sometimes spark yellow and sometimes they don't. Is it somehow connected to them being above/below each other? Or their rate of change? Or do they spark a few candles back after they've reached an extreme condition indicating where the strong move was? {image}
Could be wrong boss, but I think an oversold or overbought stoch level gets hit it paints the stoch line back to the previous candle as well.

if (KFull[i] > overBought) { Upper[i] = KFull[i]; Upper[i+1] = KFull[i+1]; }
else { Upper[i] = EMPTY_VALUE;
if (Upper[i+2] == EMPTY_VALUE)
Upper[i+1] = EMPTY_VALUE; }
if (KFull[i] < overSold) { Lower[i] = KFull[i]; Lower[i+1] = KFull[i+1]; }
else { Lower[i] = EMPTY_VALUE;
if (Lower[i+2] == EMPTY_VALUE)
Lower[i+1] = EMPTY_VALUE; }
  • #7,577
  • Edited 3:19pm Feb 23, 2022 3:05pm | Edited 3:19pm
In Post# 7573, this morning I wrote:

** If I remember to do it, I will also post today's chart (after the market has closed) with the same ema's on them to show that this concept works every day (except during extremely choppy periods (where nothing works).

Here's what happened today on the same chart:

Attached Image (click to enlarge)
Click to Enlarge Name: Chart 2-23-22.PNG Size: 147 KB

I drew square white boxes around the Crossover Trades and the Continuation trades.

What truly works on one chart truly works on any other chart, no matter what you are trading.

That's a little lesson for small minded people who think that trading stocks is so different from trading the Forex.
Always a Student, Never a Master - Emulate What Works
  • #7,578
  • Feb 23, 2022 3:24pm Feb 23, 2022 3:24pm
META Daily

Estimated Focal Point + 270 ( Halfway Point of the Downtrending Swing
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 75 KB
  • #7,579
  • Feb 23, 2022 3:28pm Feb 23, 2022 3:28pm
Quoting oohoo
{quote} At some point of your trading career you have familiarized yourself with Guppy system, haven't you? Is that a similar approach?
Yes, I studied the Guppy ma's in depth many, many years ago. I was honestly too overwhelmed with having that many ma's on a chart. But I really like the concept overall.

My concept (when trading stocks) is to have 2 groups of 3 ema's and treat them as separate groups, and I sometimes use 3 groups, but not very often.

This allows me to see the big picture, and the little picture as well.

Lastly, as I mentioned earlier, I do not ever just use ema's to make my trading decisions, I also use "trade qualifiers". For example, watching "one time frame higher" or the time of the day, the Opening and Closing prices, etc.
Always a Student, Never a Master - Emulate What Works
  • #7,580
  • Feb 23, 2022 3:31pm Feb 23, 2022 3:31pm
Quoting parisboy
META Daily Estimated Focal Point + 270 ( Halfway Point of the Downtrending Swing {image}
Interesting. I know nothing about it. How is the Focal Point used to help you trade?
Always a Student, Never a Master - Emulate What Works
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