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Trading Made Simple

  • #132,221
  • Jun 14, 2022 8:38am Jun 14, 2022 8:38am
Quoting emmanuel7788
{quote} very good trade! well done You caught last week's Swing Low and that Thursday' True REVERSAL on the Daily . It's also Phx62' 3 bars/candle PCRF setup Using TMS_V19 Expert Advisor for its technical analysis information, new traders have this nice tools developed by experienced TMS traders. Weekly shows a WRB and also the new WCC. Note the Trend 2/8 has changed from sideways to trending. Daily is the swing low + True REVERSAL {image} There were also news and market events that probably is hindsight reason which many...
Thanks emmanuel7788
Cut your losses. Cut your losses. Then maybe you have a chance
  • #132,222
  • Jun 14, 2022 9:27am Jun 14, 2022 9:27am
Is MEME = Multi Entry Multi Exit?
  • #132,223
  • Jun 14, 2022 10:15am Jun 14, 2022 10:15am
Quoting Aussi
{quote} i have been preaching a single pair to learn first for our 10 years on forex factory no one cares its the greed that gets them to skit around threads to look for good traders and leech the trade,s only a few want to learn mate thats why 95% of traders lose money , greed overtakes them
I agree with your point. On top of that, if a strategy is working well, trading 1 pair or multiple pairs has little correlation to profitability. Traders buy and sell in Fx so able to capture the price movement is key, not which symbol or how many positions.

I trade mostly GU but sometimes other pairs when setups are there. Comfortable to trade only a couple major pairs and no need to force more pairs or trades. If desiring more return, simply increase risk or capital.

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  • #132,224
  • Jun 14, 2022 10:35am Jun 14, 2022 10:35am
Quoting OwaisJam
{quote} Then they will keep losing in a day or day after no matter how much they earn they will lose all in the end...
Risk management is paramount in trading. Trading can be seen as gambling, but better be a smart gambler.

Risk of Ruin is a way to assess risk management. A calculated risk per trade and accumulative win rate can help position risk tolerance of your account.

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Another “risk-free” approach is prop firms. The trading cost is sunk cost. It does switch your mindset compared with trading with your own money. When funded basically you are trading for free. Granted any cost inflicted is 100% risk (ie sunk, or gone for good) until success and refunded

To keep greed at bay, try to think in %. Risk of ruin %, win rate %, risk per trade % and profit in %. For example, 1% monthly return equates 12.7% p.a..

If you evaluated your monthly performance is 2% growth per month under safe risk management, then if you wish to earn, say $1000, then an account size of $50000 is needed, or adjust your expectation to be more realistic.

work hard, play smart. Trading as a kill time hobby. But if failing miserably and blow accounts after all the work because of newbie mistakes like poor management, then better quit trading and spend the money in other hobbies that are more fun.

trade well
  • #132,225
  • Jun 14, 2022 7:41pm Jun 14, 2022 7:41pm
usd jpy hour chart
no more than idea
tdi slope good
return from montly resistance
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Cut your losses. Cut your losses. Then maybe you have a chance
  • #132,226
  • Jun 14, 2022 7:58pm Jun 14, 2022 7:58pm
one of the best pyschological rules in trading
never be happy when hit profit
never be sad when hit stop
the two scenarios are the same effect
Cut your losses. Cut your losses. Then maybe you have a chance
  • #132,227
  • Jun 14, 2022 8:01pm Jun 14, 2022 8:01pm
Quoting tommydoginti
{quote} Risk management is paramount in trading. Trading can be seen as gambling, but better be a smart gambler. Risk of Ruin is a way to assess risk management. A calculated risk per trade and accumulative win rate can help position risk tolerance of your account. {image} Another “risk-free” approach is prop firms. The trading cost is sunk cost. It does switch your mindset compared with trading with your own money. When funded basically you are trading for free. Granted any cost inflicted is 100% risk (ie sunk, or gone for good) until success and...
Rookie Talk:

.....................


The Gambler

Inserted Video
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #132,228
  • Jun 14, 2022 8:07pm Jun 14, 2022 8:07pm
Quoting holyGrill
Is MEME = Multi Entry Multi Exit?
Yes!

Big E on using multiple entries in the CHS thread
Post#2622 , Post#2629 , Post#2771 , Post#2912 and Post#2193

Read those posts and learn from Big E how he traded with multiple entries. Try it and see and the benefits for yourself. Do not simply trust anybody' words in FF.
I developed my system strategy TMS MEME with Big E' 5-Method and can grow an account following SMART plans.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #132,229
  • Jun 14, 2022 8:15pm Jun 14, 2022 8:15pm
Quoting emmanuel7788
London 10am day-trading the H1 today, - waiting to see if/when the three amigos ride in the same direction - amigo AU making its change after FO and LO - will it be GU, then EU?
I picked GU H1 at London 10am

- Follow Daily price action which is an establish swing / trend , look for retracement entry Fibr50.

- simple 5-Method Price Action + Support/Resistance

- PA at BRN 1.2200 plus a previously price action PPA swing high seen the the left

- 5bars/candles Swing High confirmed, then the MOMENTUM setup candle shows up.

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- use trade manager EA to move initial SL to BE+
+100pips profit

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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #132,230
  • Jun 14, 2022 8:29pm Jun 14, 2022 8:29pm
Quoting holyGrill
Is MEME = Multi Entry Multi Exit?

another Big E old post on money management and use multiple lots

#392
<>
You guys/gals are making smokin' trades here. I hope you keep it up and even more post their charts and results. Once you get the hang of it you begin to see how simple it is and yet powerful for making your daily goal for pips in the bank. Make your goals reasonable and increase it slowly as this method becomes concrete in your mind.

PipCop made a killing last night making trades, using a trailing stop and then back to bed. PipTalk did the same thing with success. If you have never done that before... try it on your demo account.

Make sure your using sound money management only trading 2-3% of your account per trade. If you can afford it... trading multiple lots is good. If your real account is too low to do that... demo multiple lots so you can get the feel and experience.

Because most traders open a live account with the minimum balance required... they are strapped on the amount they can trade safely and not burn up their live accounts. I encourage everyone to make the time to study your favorite chart or two... learn how it generally moves, average number of candles per swing on a specific time frame, etc. Go back 30 days to 3 months or more and carefully study it's every move and it's repeating moves, repeating times. In the long run it will pay you back mightly for the time you invested in your own education.
<>
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #132,231
  • Jun 14, 2022 8:32pm Jun 14, 2022 8:32pm
Quoting emmanuel7788
London 10am day-trading the H1 today, - waiting to see if/when the three amigos ride in the same direction - amigo AU making its change after FO and LO - will it be GU, then EU?

AU made the move earlier

- same London hour, same Swing High with that 5bars/candles swing high, and then the same MOMENTUM setup when dollar bulls rushes in

- missed my TP so I had to close manually

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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #132,232
  • Jun 14, 2022 8:38pm Jun 14, 2022 8:38pm
Quoting emmanuel7788
{quote} US Markets Jun 13 Trades Closed - off to a good start this week when the markets got spooked by recession fears - on my way to hit $5000 average this week probably early before Friday Jun 17 close. - take Big E' Post#7555 advice ...: "If I put all of my eggs in one basket... it was hit or miss..." - I spread my total risk money into smaller trades and take it one trade at a time. - look at more pairs for setups and pick only the best setups or what I consider at A+++...

S&P500 Jun 14 trades closed

- KEEP IT SIMPLE : Follow the Daily chart Price Action and the established Trend/Swing

- know the volatility ADR of the pair you trade and

- use SMART™ Money Management with Low Risk Trading Ideas

- keeping up with my daily average $1000 per day

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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #132,233
  • Jun 14, 2022 8:45pm Jun 14, 2022 8:45pm
Quoting holyGrill
Is MEME = Multi Entry Multi Exit?

more reading and study for those who want to learn to trade TMS MEME

Money Management Strategy for TMS: Post#48,008
Using Multiple-Lot Positions to Improve trading TMS: Post#33,507
Entry and Exits: Post#24,918 Post#18,422 Post#19,617
How to Build a Position: Post#19,588
Multiple Entries / Multiple Exits for Day chart trading: Post#58,726
Multi-Lots Buy/Sell scripts : Post#55,407
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #132,234
  • Jun 14, 2022 8:57pm Jun 14, 2022 8:57pm
Today and Tomorrow RED news

London time:

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> FED rate is top event to make money ***

next is

> SNB , do you remember that last time so be prepared for it

> EurUsd and EurChf will be hit 'hard'


*** check all your Weekly charts for volatility and direction for all pairs
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #132,235
  • Jun 14, 2022 10:01pm Jun 14, 2022 10:01pm
Gbpusd still ok 4 shorting @1.2036
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  • #132,236
  • Jun 15, 2022 2:02am Jun 15, 2022 2:02am
when Trading Made Simple, you know that your are still within the 4hr trade window of Big E 10PM to 2AM Pacific time zone.

It is now approaching London 8am and also the Sydney close and the Asian & Tokyo sessions closing hours.

If you trade blindly following the TDI' green line cross line and green line bounce off red line during this trade window of 4 hours, you will be slaughtered very often by during these fakey hour.

Example EU H4 at London 8am

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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #132,237
  • Edited 2:58am Jun 15, 2022 2:38am | Edited 2:58am
Quoting emmanuel7788
{quote} more reading and study for those who want to learn to trade TMS MEME Money Management Strategy for TMS: Post#48,008 Using Multiple-Lot Positions to Improve trading TMS: Post#33,507 Entry and Exits: Post#24,918 Post#18,422 Post#19,617...
Thank you appreciate it. (thinking will get to MEME once have got down just making +ve expectancy on single orders, probably wrong to do so but want to keep it simple for now, can see the power in MEME though).

Just took (small, 0.01 lots on Cent account) LONG on GU (TDI confirmed on both H4 + H1), but thinking not a great (A+) entry as the bars to the left are small especially on the H1 (I'm basing my trading on the H4 though, do bar sizes need to be checked for smaller TFs too?)

Thoughts on entry quality?

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Btw the GU daily, huge down bars last few days, but I am rooting for a reversal now
(How to take D1 trend into account? Trade in the direction of the trend for last few days?)

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  • #132,238
  • Jun 15, 2022 2:43am Jun 15, 2022 2:43am
Quoting emmanuel7788
when Trading Made Simple, you know that your are still within the 4hr trade window of Big E 10PM to 2AM Pacific time zone. It is now approaching London 8am and also the Sydney close and the Asian & Tokyo sessions closing hours. If you trade blindly following the TDI' green line cross line and green line bounce off red line during this trade window of 4 hours, you will be slaughtered very often by during these fakey hour. Example EU H4 at London 8am {image} {image}
Thanks Emm, noted. By avoid trading 'blindly' do you mean "don't trade at all" or just wait for higher quality (A++++ ) setups? Being 1hr ahead of London time this would cut out a lot of trading time (entire morning) for me which would kinda suck
  • #132,239
  • Jun 15, 2022 3:25am Jun 15, 2022 3:25am
Quoting havenoidea
Gbpusd still ok 4 shorting @1.2036 {image}
Quite a late entry @havenoidea? Can I ask why you didn't short at your vertical green line? (which was, if I understand the TMS guidelines correctly, the right place to enter - bar after the TDI cross?)
  • #132,240
  • Jun 15, 2022 4:23am Jun 15, 2022 4:23am
Quoting holyGrill
{quote} Quite a late entry @havenoidea? Can I ask why you didn't short at your vertical green line? (which was, if I understand the TMS guidelines correctly, the right place to enter - bar after the TDI cross?)
On D1, his "late" entry was not according to BigE's words: Enter on bar 1 or bar 2, and under special circumstances, bar 3. Maybe if he dropped down to m15 there was a valid entry, but I don't think on any TFs above that.
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