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Trading Made Simple 151,872 replies

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

Indicators for the 'Trading Made Simple' system 343 replies

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Trading Made Simple system follower - Thanks to eelfranz 9 replies

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Trading Made Simple(r)

  • #8,161
  • Edited 9:01am Jun 17, 2022 7:43am | Edited 9:01am
Quoting PipsAndGainz
{quote} It is the 12 period Hull MA. The color change comes from this: {image}
Thanks. I've used that extensively in the past, but, it always seemed like whatever settings I used I would give way too much profit back before it told me to exit or I would be getting out too soon. I just never felt like I was happy with whatever settings I used.

I most often used 10 and 1.5.

Edit: I just now realized that you changed the VS to reference the Hull instead of referencing Price. I had never thought of doing that.
Always a Student, Never a Master - Emulate What Works
  • #8,162
  • Jun 17, 2022 12:36pm Jun 17, 2022 12:36pm
Quoting RobinHood
{quote} Thanks. I've used that extensively in the past, but, it always seemed like whatever settings I used I would give way too much profit back before it told me to exit or I would be getting out too soon. I just never felt like I was happy with whatever settings I used. I most often used 10 and 1.5. Edit: I just now realized that you changed the VS to reference the Hull instead of referencing Price. I had never thought of doing that.
I have always had the doubt if the hma 12 source is close or another?
  • #8,163
  • Jun 17, 2022 1:41pm Jun 17, 2022 1:41pm
Quoting emequispips
{quote} I have always had the doubt if the hma 12 source is close or another?
I don't know, but I just always assumed that it was Close.
Always a Student, Never a Master - Emulate What Works
  • #8,164
  • Jun 17, 2022 1:47pm Jun 17, 2022 1:47pm
Quoting emequispips
{quote} I have always had the doubt if the hma 12 source is close or another?
It usually is a default setting on most platforms like MT or TV. Most indicators has an option to choose price field, but with HMA it makes little sense, close works best.
Trust the Awesomeness, monkeys.
  • #8,165
  • Jun 17, 2022 4:00pm Jun 17, 2022 4:00pm
Quoting PipsAndGainz
First two trades of the week using a combination of both methods: {image}{image} I'm not going to trail my stop two bars back as usual. We'll see how it plays out
Hi,i studied first posts,downloaded and installed all templates (#1 & #2).but all latest posts same as yours are with different indicator and template.would you please share the post number for download and also explanations?
thanks.
  • #8,166
  • Edited Jun 18, 2022 2:02am Jun 17, 2022 4:32pm | Edited Jun 18, 2022 2:02am
Quoting RobinHood
{quote} Thanks. I've used that extensively in the past, but, it always seemed like whatever settings I used I would give way too much profit back before it told me to exit or I would be getting out too soon. I just never felt like I was happy with whatever settings I used. I most often used 10 and 1.5. Edit: I just now realized that you changed the VS to reference the Hull instead of referencing Price. I had never thought of doing that.
You are right RH!

I think this is the closest we are going to get to replicate the original Hull MA from MT4.


See the two charts below as a comparison:
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPY Daily OANDA.png Size: 31 KB
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPY Daily TC2000.png Size: 50 KB


Quoting PipsAndGainz
First of all I want to thank you @RobinHood for all the knowledge you have given us. I've been lurking around for quite some time and read every post you made more than once. Now, I feel I can (probably) give something back. I noticed you are trading stocks but you use different indicators. I think I read the update on Post #1 on how you trade stocks nowadays but I can't find where it is anymore. This is off topic but I figured a way of trading this method using TC2000. {image} Hope this helps!
Also look at my first post. I had completely forgotten about it.
Only the Mediocre are Always at their Best
  • #8,167
  • Jun 17, 2022 4:48pm Jun 17, 2022 4:48pm
Quoting Caspian-swan
{quote} Hi,i studied first posts,downloaded and installed all templates (#1 & #2).but all latest posts same as yours are with different indicator and template.would you please share the post number for download and also explanations? thanks.
All the indicators and templates I use are here:
Attached Image (click to enlarge)
Click to Enlarge Name: Attachments.png Size: 5 KB


Except this one that I downloaded from another thread:
Attached File(s)
File Type: ex4 Symbol changer profit display v5.1.ex4   41 KB | 321 downloads
Only the Mediocre are Always at their Best
  • #8,168
  • Jun 18, 2022 2:52pm Jun 18, 2022 2:52pm
Hi
I anyone use a prop firm? It is good idea or not? I was interested in: https://www.blueguardiancapital.com/ because of the small profit target of 6%
Any sugestions please
  • #8,169
  • Jun 18, 2022 3:54pm Jun 18, 2022 3:54pm
Quoting PipsAndGainz
Nice work @40PipsAlan! First trade of the week: USDJPY M15 {image} USDJPY M5{image} Decided to enter on the M5 based on the H1 uptrend. The control chart was M15 - meaning I would only exit when the oscillator gives an opposite signal - but closed at 2R because I couldn't monitor the trade anymore.
Hi,is there any instruction on how to read smTMMS 7.3.1 indicator? or how to use it the correct way?
thanks in advance.
  • #8,170
  • Jun 19, 2022 1:45am Jun 19, 2022 1:45am
Quoting Caspian-swan
{quote} Hi,is there any instruction on how to read smTMMS 7.3.1 indicator? or how to use it the correct way? thanks in advance.
If you read RobinHood posts you will learn everything about it.
Only the Mediocre are Always at their Best
  • #8,171
  • Jun 19, 2022 6:08pm Jun 19, 2022 6:08pm
Hi RobinHood,
I have some problems for planıng the trade and money manegement in stock markt. I think you trade stocks by dividing the equity into parts and you enter to stock with each part.
If you had 15000 dollars, you would divide it into how many pieces?
And even if you were trading with H4 or D1 charts, would you put all the money in the game, when respectively(in order of) signals come?
Or should you leave a ratio in cash, if you think that some of it should remain in cash, what is this ratio? Thanks.
  • #8,172
  • Edited 9:02am Jun 20, 2022 6:01am | Edited 9:02am
Quoting Celal
Hi RobinHood, I have some problems for planıng the trade and money manegement in stock markt. I think you trade stocks by dividing the equity into parts and you enter to stock with each part. If you had 15000 dollars, you would divide it into how many pieces? And even if you were trading with H4 or D1 charts, would you put all the money in the game, when respectively(in order of) signals come? Or should you leave a ratio in cash, if you think that some of it should remain in cash, what is this ratio? Thanks.
1. I typically divide my whole account by 30 which has me allotting just over 3% to each stock. (My broker won't allow me to go under 5% cash).

2. I will put all of the money I am allowed to into the game.

3. I am not worried about having very little cash because I can almost instantly turn any stock back into cash any time I want to.

The thing that I realized was if you are only taking really good trading set-ups like Continuation Trades then most of your trades should be in profit or losing very little at any given time.

And so why worry? It's like if a baseball player saw his very favorite pitch 30 times in a row, why would he not swing at every one of those pitches?

Also something that is very important is: I tend to use relatively small stops on EVERY trade, so again, I don't worry about the losing trades.

And yes, you can have days where a majority of your trades will be going against you all at the same time, but if you are only picking "high quality" trading set-ups, then you should be having many more days where the majority of your stocks are going with you.

Another thing that I realized was that my indicators are MUCH BETTER than I am at picking when to get in, and when to get out (when in a profit), so with that being said, I virtually never just "get out" on my own, I only get out when my indicators tell me to OR when my SMALL stop gets hit.

Plus, I also always move my Stop to break-even whenever I see a good opportunity. This way, I have no chance of losing any money on the trade. I call it a "Free Trade".

This Daily chart of Exxon shows you where to enter and where to place your stop. As you can see, all of the stops are relatively small.
Attached Image (click to enlarge)
Click to Enlarge Name: Exxon.PNG Size: 162 KB
Always a Student, Never a Master - Emulate What Works
  • #8,173
  • Jun 20, 2022 7:21am Jun 20, 2022 7:21am
With or Without the RoadMap?? You Decide.

Without...
Attached Image (click to enlarge)
Click to Enlarge Name: Without the RoadMap.PNG Size: 138 KB
With...
Attached Image (click to enlarge)
Click to Enlarge Name: With RoadMap.PNG Size: 161 KB

I hope this clears up that question.
Always a Student, Never a Master - Emulate What Works
  • #8,174
  • Jun 20, 2022 8:22am Jun 20, 2022 8:22am
Quoting RobinHood
With or Without the RoadMap?? You Decide. Without... {image}With... {image} I hope this clears up that question.
Actually the more I use the roadmap the more I like it.


But I have a question:
Do you still look at the higher time frame or do you enter when the RHO and the EMAs tells you while the price is crossing the roadmap?

Like this for example:
Attached Image (click to enlarge)
Click to Enlarge Name: Example #1.png Size: 59 KB
Attached Image (click to enlarge)
Click to Enlarge Name: Example #2.png Size: 64 KB
Only the Mediocre are Always at their Best
  • #8,175
  • Jun 20, 2022 8:50am Jun 20, 2022 8:50am
Hi RobinHood,
Thank you very much for your detailed explanation. Good luck.
  • #8,176
  • Edited 11:57am Jun 20, 2022 8:58am | Edited 11:57am
Quoting PipsAndGainz
{quote} Actually the more I use the roadmap the more I like it. But I have a question: Do you still look at the higher time frame or do you enter when the RHO and the EMAs tells you while the price is crossing the roadmap? Like this for example: {image}{image}
I always look at the higher time frame and "try my best" to only trade in that direction. Meaning I do sometimes break that rule, but it has to be a special circumstance that I see on the Daily chart, such as a perfect 1-2-3 top or a 1-2-3 bottom pattern with a small amount of risk.

Weekly --> Daily

I never initiate a trade inside of the RoadMap, NEVER. The reason why is that often times Price will go "sideways" inside of the Roadmap and you can get chopped up.

I only initiate Long trades above the RoadMap and Short trades below the RoadMap.

-----------

Another thing that I want to emphasize is this...

We are all taught all throughout school that we must achieve at least a 70-75% win rate on all of our tests and quizzes or we are failures. That was deeply ingrained in us intentionally nearly every day for 12 or more years.

But it's not always true in everything.

Look at PROFESSIONAL baseball players. They often get paid millions of dollars to only hit the ball 2-3 times out of 10, thereby giving them a 70-80% failure rate.

But, just as I said with my trading entries, they only swing at the pitches that they like the best, the ones that they have the most confidence in, and yet they still miss 70-80% of the time.

So traders MUST learn AND accept that it's OKAY to be wrong more than they are right AS LONG AS THEY KEEP THEIR LOSSES SMALL and their winners bigger on average than their losers on average.
Always a Student, Never a Master - Emulate What Works
  • #8,177
  • Edited 5:38pm Jun 20, 2022 3:50pm | Edited 5:38pm
Quoting RobinHood
{quote} I always look at the higher time frame and "try my best" to only trade in that direction. Meaning I do sometimes break that rule, but it has to be a special circumstance that I see on the Daily chart, such as a perfect 1-2-3 top or a 1-2-3 bottom pattern with a small amount of risk. Weekly --> Daily I never initiate a trade inside of the RoadMap, NEVER. The reason why is that often times Price will go "sideways" inside of the Roadmap and you can get chopped up. I only initiate Long trades above the RoadMap and Short trades below the RoadMap....
I've been focusing a lot more on how much can I lose rather than how much can I win and I can say it has changed my trading a lot.


When you say you keep your losses small what do you exactly mean?

Because I always risk the same no matter the distance from the entry point to the stop loss.
Only the Mediocre are Always at their Best
  • #8,178
  • Jun 20, 2022 7:03pm Jun 20, 2022 7:03pm
Quoting PipsAndGainz
{quote} I've been focusing a lot more on how much can I lose rather than how much can I win and I can say it has changed my trading a lot. When you say you keep your losses small what do you exactly mean? Because I always risk the same no matter the distance from the entry point to the stop loss.
Personally imo as far as trading goes, without a doubt the most important part of trading is risk management. It sucks for new people because to manage risk means to be realistic and to be forced to live in reality. No dreaming of account flips and Ferraris, thus often shrugged off by newer traders. To live to trade another day is always the attitude, staying in the game aslong as possible.

As a trend trader i need to manage risk risk effectively and consistently, to handle the inevitable long losing periods before a trend comes. Without exceptional risk management it wont work. I too risk the same amount on every trade (relative to account size) i fully believe that is a must. Being subjective on your risk per trade based on how you feel is gambling.

The way i trade is of course 1% risk a trade (2 trades simultaneously i do) but i cant remember the last time i took a full 1% loss on either lower or higher timeframes. Even if i was completely 'wrong' and there was no trend continuation. I always always always, from the moment i enter a position, look for a exit timing. Not being scared or too subjective. I look for a minimum of 2 exit conformations (just entry signal reversed) and a break of some market structure on a lower timeframe. If there is, i just eat the loss. I do not get stubborn , this way i have a lot of 0.1% - 0.5% loss's (remember originally risking 1%) until a big 4-5% trade comes thru. If market trends i follow,

I wait for multiple conformations as to try not get shacked out of a position too early. This way of even more aggressive risk management then standard 0.5-1% risk per trade was game changing for me. Took a lot of time making the process lest subjective so it could be repeated more effectively.
Seeking Fair Value
  • #8,179
  • Jun 21, 2022 6:21am Jun 21, 2022 6:21am
Good morning everyone.

Please, I'll like to ask if this indicators work on MT5.

Thank you.
  • #8,180
  • Edited 7:13am Jun 21, 2022 6:28am | Edited 7:13am
I moved all my bussiness to the H4. It has it's pros and cons, but it think it's less riskier and more profitable overall. Loses are bigger but wins are so much bigger.
You could think it would be harder on the nerves, but it isn't.

156 pips profit (personnal best) long on EURJPY still open, i either go to the moon or lose it all

edit: sold. It was getting near a resistance level. Still, nice.
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RobinHood