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Trading Made Simple

  • #132,141
  • Jun 7, 2022 7:47pm Jun 7, 2022 7:47pm
AUDUSD Jun08 review

- yesterday' RBA rate announcement did not change the Weekly and Daily market type

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- Weekly remain sideways to the upside trading within the WCC high-low

- Daily price action is intact above its 5LWMA/5EMA

- day traders need to deal with the intra-day volatility but stay on the Daily and Weekly bias

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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #132,142
  • Jun 7, 2022 8:00pm Jun 7, 2022 8:00pm
Quoting emmanuel7788
TMS Monitor Jun 06 H1 at 10PM PDT Big E' 4hr candle - nothing of interest now that fit my weekly trade plan - beware of the CAD pairs due to volatile oil price expected - also the COMMOD pairs AUD, NZD and CAD this week and month of June {image}

USDCAD Jun08 review and update

- the Weekly trend remains intact,

- but when will this end? WAIT for NY Friday Close and we shall do the usual Weekly Top Down Analysis and revise our sell plan for next week.

- meantime, so stay on the sellers side, sell the small rallies ...

- do you have a mental strategy which allows you to sell high, sell higher and sell even higher?

- you need a SMART Money Management Strategy + Mental Strategy to make Trading Simple

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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #132,143
  • Jun 7, 2022 9:02pm Jun 7, 2022 9:02pm
Quoting havenoidea
{quote} +30 pips so far
+46 pips so far (oh well, slow pair)
  • #132,144
  • Jun 7, 2022 9:14pm Jun 7, 2022 9:14pm
Quoting emmanuel7788
{quote} USDCAD Jun08 review and update - the Weekly trend remains intact, - but when will this end? WAIT for NY Friday Close and we shall do the usual Weekly Top Down Analysis and revise our sell plan for next week. - meantime, so stay on the sellers side, sell the small rallies ... - do you have a mental strategy which allows you to sell high, sell higher and sell even higher? - you need a SMART™ Money Management Strategy + Mental Strategy to make Trading Simple {image}

USDCAD Jun 08

- m5 sell entry re-test of Jun06 Monday' Low

- what-if it rallies again higher to 1.2250, sell some more and get a better AEP average entry price, with your SL above previous Day High and do Position Size


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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #132,145
  • Jun 7, 2022 10:37pm Jun 7, 2022 10:37pm
Quoting havenoidea
{quote} +46 pips so far (oh well, slow pair)
trade closed +25 pips. got a problem hm...
  • #132,146
  • Jun 8, 2022 8:56pm Jun 8, 2022 8:56pm
Quoting emmanuel7788
{quote} USDCAD Jun 08 - m5 sell entry re-test of Jun06 Monday' Low - what-if it rallies again higher to 1.2250, sell some more and get a better AEP average entry price, with your SL above previous Day High and do Position Size

{image}
USDCAD Jun 09 - Trading the Weekly chart timeframe

- do not enter the market with full risk all in one single entry type of trade

- use multiple entries to build up your positions in the market with risk management

- your initial risk amount is your 'R' and do your trade Positions Size for every open position

- manage your trades using the AEP average entry price of all open positions

Update, now with 2 open positions and AEP 1.2542,

- note the Weekly PA and HA candle below 5EMA, and the price is pulling back

- next build position would be sell setups somewhere near the previous price action swing highs

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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #132,147
  • Jun 9, 2022 12:58am Jun 9, 2022 12:58am
Short Gbpsgd @1.7232 (not like dis one dat much)
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  • #132,148
  • Jun 9, 2022 7:39am Jun 9, 2022 7:39am
Quoting emmanuel7788
{quote} US Markets Jun 07 review - New York 9:30am M30 opening candle - after that it was just one-direction - but it was my usual bedtime so missed this nice one-direction move {image}

US Markets Jun 09 Daily at New York Open

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- two days of narrow range trading looking at the Daily candles

- lets see if today US session will change that

yesterday's Jun 08 trades closed
- rather slow day missed my daily average

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today Jun 09 trades closed
- has a few rolled over


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> be careful when NYSE at EST9:30am


...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #132,149
  • Jun 9, 2022 8:44pm Jun 9, 2022 8:44pm
Gbpusd is looking good 4 short @ 1.2487
  • #132,150
  • Jun 10, 2022 9:52am Jun 10, 2022 9:52am
Trading in the zone - Mark Douglas
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  • #132,151
  • Jun 10, 2022 12:36pm Jun 10, 2022 12:36pm
Quoting LifesAbeach
Trading in the zone - Mark Douglas
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Are you certain??
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To free Gazans of Hamas, use whatever it takes.
  • #132,152
  • Jun 10, 2022 9:15pm Jun 10, 2022 9:15pm
Quoting emmanuel7788
{quote} US Markets Jun 09 Daily at New York Open {image} - two days of narrow range trading looking at the Daily candles - lets see if today US session will change that yesterday's Jun 08 trades closed - rather slow day missed my daily average {image} today Jun 09 trades closed - has a few rolled over {image} > be careful when NYSE at EST9:30am ...

US Markets Jun 10 Trades Closed

- only two trades today, one each S&P500 and NASDAQ

- simple trade plan, trade follow previous Daily close , 'set-and-forget' and wait for the US data release at New York 8:30am

- moved SL to BE+ below Asian session low and let the market decide

- got my daily average target as in Big E' Post#557 and Post#7555



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...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #132,153
  • Jun 10, 2022 9:43pm Jun 10, 2022 9:43pm
Quoting LifesAbeach
Trading in the zone - Mark Douglas

https://www.forexfactory.com/attachm...l?d=1654872720 {image}
well that's in the full Chapter 7 of that book Trading in the Zone.

the typical trader has limited number of years of market knowledge and experience which limits his/her ability to do market analysis therefore the typical trade cannot think in probabilities. He/she look for holy grail systems that can generate win rate above 99% and expects the market to turn a $100 to one $million dollars.

Many new traders coming to this thread and got sucked into this Post#495 by the OP.

<>

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 about 2 trades out of 14-16 trades. I can live with that. I choose my trades carefully making sure they meet the entry rules spot on... and pass on the iffy ones and go hunt other charts.

<>
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #132,154
  • Jun 10, 2022 9:52pm Jun 10, 2022 9:52pm
Quoting Fake'Dr'Dave
{quote} Are you certain??{image} {image}
@Fake'Dr'Dave

thanks for the weekend laughs!

please continue with entertaining us.

hey TMS Folks

Fake'Dr'Dave want to impress newbies here with his once-upon-a-time 99.4% win rate...

that's still that same 345 trades 12 months ago ...way back in July 2021
>>> here https://www.forexfactory.com/thread/...6#post13616796

let's wait for his first 1,000 trades in 2022

we are all very patient people here.

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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #132,155
  • Jun 10, 2022 9:57pm Jun 10, 2022 9:57pm
Quoting havenoidea
Gbpusd is looking good 4 short @ 1.2487
trade 1: +77 pips
trade 2: +35 pips
trading is a boring job, made money but not really happy.
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  • #132,156
  • Jun 10, 2022 10:03pm Jun 10, 2022 10:03pm
Quoting emmanuel7788
{quote} well that's in the full Chapter 7 of that book Trading in the Zone. the typical trader has limited number of years of market knowledge and experience which limits his/her ability to do market analysis therefore the typical trade cannot think in probabilities. He/she look for holy grail systems that can generate win rate above 99% and expects the market to turn a $100 to one $million dollars. Many new traders coming to this thread and got sucked into this Post#495 by...

yes one has to have a plan that works for them , most an FF dont have a plan it seems but it is what it is,
people leave, but this thread will go on for ever
  • #132,157
  • Jun 11, 2022 2:42am Jun 11, 2022 2:42am
Quoting havenoidea
{quote} trade 1: +77 pips trade 2: +35 pips trading is a boring job, made money but not really happy. {image}
Yes, trading can indeed be a lonely endeavour, hence the reason it is good to band up with some trading buddies, trade the same system and discuss the set ups and entries.
Most people just want to trade alone. Search out like minded traders on your time zone and create groups like Emmanuel has mentioned before.

All the best and more green pips to us all.
Born to rule my Economic World and Make a Difference!
  • #132,158
  • Jun 11, 2022 3:27am Jun 11, 2022 3:27am
Quoting sharemaster2
{quote} Yes, trading can indeed be a lonely endeavour, hence the reason it is good to band up with some trading buddies, trade the same system and discuss the set ups and entries. Most people just want to trade alone. Search out like minded traders on your time zone and create groups like Emmanuel has mentioned before. All the best and more green pips to us all.

TMS traders we do not have to trade alone.

Big E did not trade alone during his time. He was active in different skype groups with active traders.

Today we have other social media like Telegram, Twitter, etc and we also have Zoom where we can discuss in real-time live markets and trade together.

It is up to you and what your personal objectives are and how you want to reach you trading goals.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #132,159
  • Jun 11, 2022 3:34am Jun 11, 2022 3:34am
Quoting eelfranz
Your safest trades will always be when green crosses red and you enter on candle 1 or 2... odds are in your favor. Why? Because I'm expecting 3-8 candles... which is average... With bounce trades the odds are lower for your success... but it still works. When wanting to enter a TDI trade... take a moment first to observe basic 4x things... like: How close am I to the previous high or lo Am I in an uptrend or downtrend.. short & long term... Am I in or close to a consolidation area Are the previous candles small... Look at the candles on the last...
This well known Post#647

which many traders here struggles with for more than 10 years.

When wanting to enter a TDI trade... take a moment first to observe basic 4x things... like:

How close am I to the previous high or lo

Am I in an uptrend or downtrend.. short & long term...

Am I in or close to a consolidation area

Are the previous candles small...

Look at the candles on the last reversal... big, little, what

How does the momentum look right now (12-2, 4-6)

Does Stoch's confirm the TDI signal

Sounds like a lot of stuff but it's basic stuff and only takes a moment to observe it...

If you don't already know these things... don't trade live yet... www.babypips.com is a good place to learn about the basics of trading 4X.

another member Erl made this post years ago, Post#23,079
https://www.forexfactory.com/thread/...02#post6887902

download that pdf Strat's PASR and learn more about trading with Price Action + Support/Resistance
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #132,160
  • Jun 11, 2022 4:38am Jun 11, 2022 4:38am
Quoting havenoidea
{quote} trade 1: +77 pips trade 2: +35 pips trading is a boring job, made money but not really happy. {image}
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