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Trading Made Simple

  • #131,541
  • May 3, 2022 2:58pm May 3, 2022 2:58pm
Quoting snakecharmer
{quote} How far would you cut your loss....A third negative? Half negative? would be good to know this from people who done it. Market structure is definitely what I need to work on, identifying consolidation, s/r etc...
How far would you cut your loss...

That is a strictly personal decision. How much are you REALLY willing to lose in a single trade? Does your loss rate with that loss level enable your account to grow at a "reasonable" rate, or does it show that your account will eventually be drained?

In some cases, you may have decided that you are willing to lose 1% of your account on a trade, but then after the trade goes negative but still far from 1% loss, you see price stall and ATR drop significantly, you might decide to simply cut the trade there because price is hardly moving at all, and you prefer not to wait to see which way it breaks out of the consolidation.

A "purist" would simply set his SL and not intervene on a trade that is running negative, because he has already run the statistics for his system and knows that in the long run, he will grow the account.
To free Gazans of Hamas, use whatever it takes.
  • #131,542
  • May 3, 2022 3:04pm May 3, 2022 3:04pm
Quoting DrDave
{quote} A "purist" would simply set his SL and not intervene on a trade that is running negative, because he has already run the statistics for his system and knows that in the long run, he will grow the account.
I would like to be that "purist".
  • #131,543
  • May 3, 2022 3:10pm May 3, 2022 3:10pm
Quoting snakecharmer
{quote} How far would you cut your loss....A third negative? Half negative? would be good to know this from people who done it. Market structure is definitely what I need to work on, identifying consolidation, s/r etc...
Only a suggestion:
Use TDI it self on a lower time frame.
> When the lower time cross over agains your trade close the trade on the higher timeframe.

Hindsight make it look so easy > be careful, it is not.
You are trading on H4 and entered a trade with post#647.
Price start to move against your entry,
H4 Yellow trend line indicate a loss.
H1 Yellow trend line is the indicate loss from H4.
H1 Blue trend line show potential profit
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 34 KB

Keep it simple and follow BigE's advice:
#53..... The safest way is to place your S/L at the last high or low a couple of candles back... I've never had one taken out that way...
#1543... When I'm trading a 1HR chart... when I enter a trade...
I click on it and select "close the trade"... a box pops up and I put it on the left side of my screen not using a normal S/L...
If my trade goes against me 12-15 pips I click to exit... and watch for a possible re-entry when PA goes back in my direction...
(BigE full.pdf)
  • #131,544
  • May 3, 2022 3:23pm May 3, 2022 3:23pm
Quoting Tekkies
{quote} Only a suggestion: Use TDI it self on a lower time frame. > When the lower time cross over agains your trade close the trade on the higher timeframe. Hindsight make it look so easy > be careful, it is not. You are trading on H4 and entered a trade with post#647. Price start to move against your entry, H4 Yellow trend line indicate a loss. H1 Yellow trend line is the indicate loss from H4. H1 Blue trend line show potential profit {image} Keep it simple and follow BigE's advice: #53..... The safest way is to place your S/L at the last high...
Always open to suggestion and criticism also my friend ...
I understand exactly what you mean, I will put this in practice, what lower TF would you use for 1H entries counter cross the 15M ?

That's exactly how I put my trades on with the SL, tomorrow will be more clear because I will post the charts at entries too.

I actually read that in his pdf #1543 but I can never understand when people talk about pips because everything makes sense for me in percentage, so I am not sure if he means a third or half drawdown..... All my trades have a 1% risk. I have always, always used SL. That's how I measure everything.
  • #131,545
  • May 3, 2022 3:31pm May 3, 2022 3:31pm
Quoting snakecharmer
{quote} Always open to suggestion and criticism also my friend ... I understand exactly what you mean, I will put this in practice, what lower TF would you use for 1H entries counter cross the 15M ? That's exactly how I put my trades on with the SL, tomorrow will be more clear because I will post the charts at entries too. I actually read that in his pdf #1543 but I can never understand when people talk about pips because everything makes sense for me in percentage, so I am not sure if he means a third or half drawdown..... All my trades have a...
"what lower TF would you use for 1H entries"
M30 for H1.
M15 would be a tad to fast for H1. I think you will cut short many good long trades, on the other hand it can also save your butt.
>>> I don't know, it was only a suggestion Snake.
----
I don't understand pips or percentage, however I do understand the meaning Margin Call very well.
  • #131,546
  • May 3, 2022 3:37pm May 3, 2022 3:37pm
Quoting Tekkies
{quote} "what lower TF would you use for 1H entries" M30 for H1. M15 would be a tad to fast for H1. I think you will cut short many good long trades, on the other hand it can also save your butt. >>> I don't know, it was only a suggestion Snake. ---- I don't understand pips or percentage, however I do understand the meaning Margin Call very well.
No problem 30M it is.
You are the same as me, I like your style.
  • #131,547
  • May 3, 2022 5:22pm May 3, 2022 5:22pm
Quoting Fake'Dr'Dave
{quote} How far would you cut your loss... That is a strictly personal decision. How much are you REALLY willing to lose in a single trade? Does your loss rate with that loss level enable your account to grow at a "reasonable" rate, or does it show that your account will eventually be drained? In some cases, you may have decided that you are willing to lose 1% of your account on a trade, but then after the trade goes negative but still far from 1% loss, you see price stall and ATR drop significantly, you might decide to simply cut the trade there...
"A "purist" would simply set his SL and not intervene on a trade that is running negative, because he has already run the statistics for his system and knows that in the long run, he will grow the account.."

@Fake'Dr'Dave

You mean your 2020 TE is an example of your "purist' IMT trading strategy?

How many years is your "long run" statistics since that 2020?
Please show us your 2021 and 2022, for all of us here to follow and keep up with your progress.

Attached Image (click to enlarge)
Click to Enlarge Name: FakeDr GU sell 40 weeks DD 2-1-2021 1-29-14 pm.png Size: 98 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #131,548
  • May 3, 2022 5:29pm May 3, 2022 5:29pm
Quoting Tekkies
{quote} Only a suggestion: Use TDI it self on a lower time frame.
Please tell me how many candles we need to calculate TDI? For example on 30m TF. Thank you!
Observer effect
  • #131,549
  • May 3, 2022 5:30pm May 3, 2022 5:30pm
Quoting snakecharmer
{quote} No problem 30M it is. You are the same as me, I like your style.

@snakecharmer

I am like you regarding @Tekkies.
I like @Tekkies' style too. He is honest sharing to show others he still is very passionate about his holy grail TDI even when he has not been making money with his holy grail TDI.
He is doing his best wanting to teach others here how to trade like Big E. But he still struggling to fill the void (#76,129) Big E left behind.

#71,385
Quoting Tekkies
TDI for me is the Holy Grail. My win rate is about 85 - 90% with with all rules applied. It really does work, however got this major bad habit of not knowing when to close a losing trade. Maybe it is that I have taken this sentence to heart. It has called many a time an margin call. Is there an EA that can be used to set stoploss at mmm say $20.00 Have found many and all use either points, pips, support/resistance, pivots to place SL. Would rather learn in layman's terms how to get rid of this major annoying, bad losing, moral...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #131,550
  • May 3, 2022 5:32pm May 3, 2022 5:32pm
Quoting Tekkies
{quote} Hi marionetka BigE have left a void behind that members need to full on their own. Emmanuel filled that void and did it very good. Somewhere along the way he lost track that he is dealing here mostly with members that do not know how to trade at all. Members that have learned from BigE and emmanuel have moved on and left this forum. Most probable successful traders in own right. Those old members are replace by new members that do not know how to trade. Every couple of days / weeks the cycle repeat it self. So after many years the level...

hey @Tekkies

we have a new member here this week... @snakecharmer.
and he can trade.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #131,551
  • May 3, 2022 5:37pm May 3, 2022 5:37pm
Quoting Tekkies
{quote} "what lower TF would you use for 1H entries" M30 for H1. M15 would be a tad to fast for H1. I think you will cut short many good long trades, on the other hand it can also save your butt. >>> I don't know, it was only a suggestion Snake. ---- I don't understand pips or percentage, however I do understand the meaning Margin Call very well.

"I don't understand pips or percentage, however I do understand the meaning Margin Call very well."

hey @Tekkies

I really like your honesty.

Tell us more please.

How does it feel when your broker contact you on your most recent Margin Call.

Margin Call is { here }
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #131,552
  • May 3, 2022 5:49pm May 3, 2022 5:49pm
Quoting Tekkies
{quote} Only a suggestion: Use TDI it self on a lower time frame. > When the lower time cross over agains your trade close the trade on the higher timeframe. Hindsight make it look so easy > be careful, it is not. You are trading on H4 and entered a trade with post#647. Price start to move against your entry, H4 Yellow trend line indicate a loss. H1 Yellow trend line is the indicate loss from H4. H1 Blue trend line show potential profit {image} Keep it simple and follow BigE's advice: #53..... The safest way is to place your S/L at the last high...
Folks,

Its fun learning from members post and old charts.

Example:

1) the 5bars swing high
2) NFF True REVERSAL
3) TDI confirms Stoch cross for the NFF True REVERSAL setup
4) PPA Previous Price Action PA+SR
5) no need blue line and yellow line crap

Attached Image (click to enlarge)
Click to Enlarge Name: Tekkies #131,544 4-5-2022 6-39-10 am.png Size: 344 KB



Attached Image (click to enlarge)
Click to Enlarge Name: Tekkies #131,544 4-5-2022 6-39-10 am.png Size: 344 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #131,553
  • May 3, 2022 5:57pm May 3, 2022 5:57pm
Quoting DrDave
{quote} But a lot of pips are not required if the lot size is large enough. Anyway, when an H1 TF has ATR running about 20 pips for most of a swing, how hard do you think it would be to hit a 10 pip TP before hitting a 20 pip (or even 10 pip) SL?
"But a lot of pips are not required if the lot size is large enough."

Folks

Listen to the IMT Academy guru.... @Fake'DR'Dave.

"if" the lot size is large enough.

but he lost total 3053pips and minus 12.5% of his account.

Attached Image (click to enlarge)
Click to Enlarge Name: FakeDr GU sell 40 weeks DD 2-1-2021 1-29-14 pm.png Size: 98 KB


but its okay he is DEMO trading.

...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #131,554
  • May 3, 2022 6:09pm May 3, 2022 6:09pm
Quoting ryuryu
{quote} Please tell me how many candles we need to calculate TDI? For example on 30m TF. Thank you!
Dont waste your time but here it is..
Attached File(s)
File Type: mq4 TDI Alerts v4 -1 for ryuryu.mq4   94 KB | 532 downloads
  • #131,555
  • May 3, 2022 6:15pm May 3, 2022 6:15pm
Quoting emmanuel7788
US Markets May03 NYSE Chicago 9am - the Weekly is clear for me - NYSE M30 opening range also quite clear - you can have different setup with this M30 - be focus, keep quiet and wait for the setups {image}
Attached Image (click to enlarge)
Click to Enlarge Name: S&P500 M30 3-5-2022 10-14-40 pm.png Size: 25 KB


{image}
US Markets S&P 500 May 03

- weekly no buyers above 4207

- short term day traders fear the Big Number 4200

- the NYSE M30 opening range did not break far enough to buy or to sell

> do you have a strategy to trade such market conditions?

Attached Image (click to enlarge)
Click to Enlarge Name: S&P500 May03 review 4-5-2022 6-09-01 am.png Size: 38 KB


...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #131,556
  • May 3, 2022 6:22pm May 3, 2022 6:22pm
Quoting Tekkies
Careful Snake, you have to live in the past to get that 10%. {image}

Folks,

@Tekkies is right.

Year 2018 is in the past.

Big E' 5-Method is also in the past 2010 and it worked in 2018 without the TDI.

Start with #10,000 and make 10% per month in 2018 and build up slowly.

You develop your EDGE ... Your Mental Strategies to trade in different market type conditions.

You need to earn your right to trade bigger account as your confidence grow with your account.

Attached Image (click to enlarge)
Click to Enlarge Name: Myfxbook sg01 2018.png Size: 25 KB


...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #131,557
  • May 3, 2022 6:33pm May 3, 2022 6:33pm
Quoting DrDave
{quote} Yes, it does raise questions as to why Vincent has to keep referring to OLD results from as far back as 5 years ago when according to the tabs on the image, there are results for 2021 and 2022. Two obvious answers come to mind: 1. The results after 2019 are even worse than before that; 2. there are no results because he has mainly fake trades. {image}

@Fake'Dr'Dave

Attached Image (click to enlarge)
Click to Enlarge Name: Myfxbook sg01 2018.png Size: 25 KB


2018 was the first year I dropped the TDI as what Big E said in his posts "you can trade the 5-Method without the TDI..."

see these posts:
#3044 Jan 20, 2011,
#3103 Jan 26, 2011
#3418 Feb 12, 2011
#2617 May 16, 2011

You know how to count the tabs, it is old results 2018, but what do you have to show us in your trading year 2018.

You have no results to show people despite you started trading in 2011 and posting crap in Big E' old thread. Then you jump around from thread to thread in Forex Factory posting and talking like some trading guru and looking for some holy grail colourful lines indicators.

Stay Tuned for 2022 year end reveal.

Be patient, very very very patient.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #131,558
  • May 3, 2022 6:45pm May 3, 2022 6:45pm
Quoting DrDave
{quote} LOL. The W1 TF is essentially of NO VALUE at the present. In fact, it's not until you move down to the H8 is there anything to be interested in. But of course, you do something absurd like go all the way down to M30, trying to figure out what to do based on the first 30 minutes range. Thanks for more laughs!

@Fake'Dr'Dave

Thanks for yet another of your daily verbal diarrhea comments.

before you "...move down to the H8 is there anything to be interested in..."

Thanks for more of your daily laughs.

You first look at Daily after knowing the Weekly ... then you can move further down the timeframes and not just every 8-hour. Try every 4-hours.

You are still same 2011 newbie - ignorant and naive about the New York forex session and Chicago Exchange trading hours.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #131,559
  • May 3, 2022 7:05pm May 3, 2022 7:05pm
Quoting DrDave
{quote} Hmmm. Let's see how that worked out selling. in: 33077.1 out: 32950.0 {image}

hey @Fake'Dr'Dave

your IMT trade is what Big E considers a newbie would trade his 5-Method with training wheels.

you miss the PA + SR ... the core trading methodology of Big E' 5-Method.

if you do not have the experience and confidence of Phx62, there is his 3bars PCRF.
Phx62 was posting in Big E' old thread at the same time your were.

if you know Craig Harris NFF, then there is the 5bars swing high and True REVERSAL.... also explained by Big E and the many tutorial videos in his old thread.

in your example, we have a PCRF within NFF True REVERSAL ... a double setup confirmation.

After more than 10 years since starting in 2011, you are still trading with your learning wheels.

Attached Image (click to enlarge)
Click to Enlarge Name: FakeDrDave US30 m5 trade 4-5-2022 7-47-37 am.png Size: 296 KB


...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #131,560
  • May 3, 2022 7:13pm May 3, 2022 7:13pm
Quoting DrDave
{quote} there are several UK traders wanting to trade privately in a small group and not waste their time with all the noise in this thread. PM each other and get organised among yourself. LOL What's wrong with this??? Let's analyze ... 1. there are UK traders that want to trade in a small group OK, a statement of fact. 2. PM each other OOPS!! Who, if anyone, has the usernames of these UK traders so that it would be possible for someone to PM them? 3. IF these UK traders actually exist, why in the world hasn't Vincent or one of them ALREADY organized...

Folks

It is very simple.

If your are trading from the UK and would like to trade together with another trader from the UK,

snakecharmer is from the UK

and you read his posts and like what he does here,

you can contact him via PM.

Attached Image (click to enlarge)
Click to Enlarge Name: snakecharmer FF profile 4-5-2022 8-06-30 am.png Size: 45 KB

start your own Telegram group(s) like many others have done.

if you are in other locations and looking for trading buddies, you have to be active in this thread so that others will notice you and the others will have their own decision to contact you.

that's simple enough.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
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