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

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Trading Made Simple

  • #143,821
  • Oct 21, 2023 7:49pm Oct 21, 2023 7:49pm
Quoting emmanuel7788
Its weekend time, time for more read, study and learn .... some testing ... #4752 June 05, 2011 {quote} then July 23,2011 #8703 {quote} I'm testing the Daily without the TDI. Just follow #2617 - taking clean trades on clean chart with price action S/U candles and simple rules for entries and exits. {image} First test results EU Daily {image} ...

More weekend back-testing after removing the TDI as in the OP' post #2617

UCad
Attached Image (click to enlarge)
Click to Enlarge Name: Your EA UCad 21-10-2023 11-02-34 am.png Size: 7 KB


UChf

Attached Image (click to enlarge)
Click to Enlarge Name: YouEA UChf 21-10-2023 1-44-30 pm.png Size: 7 KB



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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #143,822
  • Oct 21, 2023 7:51pm Oct 21, 2023 7:51pm
Quoting emmanuel7788
Its weekend time, time for more read, study and learn .... some testing ... #4752 June 05, 2011 {quote} then July 23,2011 #8703 {quote} I'm testing the Daily without the TDI. Just follow #2617 - taking clean trades on clean chart with price action S/U candles and simple rules for entries and exits. {image} First test results EU Daily {image} ...
More weekend back-testing after removing the TDI as in the OP' post #2617

JPY pairs

AJ

Attached Image (click to enlarge)
Click to Enlarge Name: YourEA AJ 22-10-2023 6-36-24 am.png Size: 7 KB


UJ

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Click to Enlarge Name: YourEA UJ 21-10-2023 8-15-15 pm.png Size: 7 KB


GJ

Attached Image (click to enlarge)
Click to Enlarge Name: YourEA GJ 22-10-2023 8-53-04 am.png Size: 7 KB



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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #143,823
  • Oct 22, 2023 8:38am Oct 22, 2023 8:38am
Week 43 Oct 23 to 27

Eur and Gbp crosses


Attached Image (click to enlarge)
Click to Enlarge Name: EUR and GBP crosses Oct20 NYC 22-10-2023 9-35-10 pm.png Size: 53 KB



Attached Image (click to enlarge)
Click to Enlarge Name: EA Oct20 NYC 22-10-2023 9-33-00 pm.png Size: 31 KB



Attached Image (click to enlarge)
Click to Enlarge Name: GA Oct20 NYC 22-10-2023 9-34-01 pm.png Size: 32 KB




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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #143,824
  • Oct 22, 2023 6:33pm Oct 22, 2023 6:33pm
New York Sunday 7:30PM

market is open again ...

Week 43 Oct 23 to Oct 27, 2023

This is an important week ...

Will tell you more ...

meanwhile , plan your trade and trade your plan ....

...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #143,825
  • Oct 23, 2023 2:21am Oct 23, 2023 2:21am
USDCAD Oct23 0400 4Hr Tokyo

- a good candle for the next 4hour

- all other information you see on the chart


Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD Oct23 4hr 0400 candle 23-10-2023 3-18-46 pm.png Size: 32 KB


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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #143,826
  • Oct 23, 2023 2:27am Oct 23, 2023 2:27am
Looks like a quiet day ...

so it is hit-and-run type of trade...

tomorrow will be the action day



Attached Image (click to enlarge)
Click to Enlarge Name: FF Cal Oct23 to 25 23-10-2023 3-24-35 pm.png Size: 41 KB




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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #143,827
  • Oct 23, 2023 5:17am Oct 23, 2023 5:17am
Quoting emmanuel7788
Looks like a quiet day ... so it is hit-and-run type of trade... tomorrow will be the action day {image} ...
I refreshed the News page, and the Hottest story was 11 hours old...

It takes a lot for me to IGNORE you, but you can try.
  • #143,828
  • Oct 23, 2023 11:26am Oct 23, 2023 11:26am
WHAT'S TAGERT GBPUSD
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_13.png Size: 56 KB
Amazing indicator SL Session Strength 28 Pair
  • #143,829
  • Oct 23, 2023 1:44pm Oct 23, 2023 1:44pm
Quoting thisara2
WHAT'S TAGERT GBPUSD {image}
Why exactly are you posting on this thread? It has nothing to do with the system.
  • #143,830
  • Oct 23, 2023 2:09pm Oct 23, 2023 2:09pm
Quoting lynnc
{quote}Why exactly are you posting on this thread? It has nothing to do with the system.
Why are you concerned about a post that has nothing to do with the system? The ToxicFakeTrader Emmanuel7788 has THOUSANDS OF SUCH POSTS ON THIS THREAD!
To free Gazans of Hamas, use whatever it takes.
  • #143,831
  • Oct 23, 2023 3:01pm Oct 23, 2023 3:01pm
Quoting DrDave
{quote} Why are you concerned about a post that has nothing to do with the system? The ToxicFakeTrader Emmanuel7788 has THOUSANDS OF SUCH POSTS ON THIS THREAD!
I know just didn't want to see yet another lot of people coming in here to confuse people.
  • #143,832
  • Oct 23, 2023 6:19pm Oct 23, 2023 6:19pm
Quoting thisara2
WHAT'S TAGERT GBPUSD {image}

@thisara2

I see you have the mini-charts D1, H4, H1, M30 ... on your trading chart screen...

Daily is sideways ranging
H4 is sideways choppy
best thing is to trade intraday on H1 and M15.

For day trading target, I would usually use the ADR(100)days

With your initial SL pre-determined, your exit strategy would be using the initial %risk 'R' and exit targets with the best +2R to +5R targets. Remember Position Sizing is an important key factor to achieve your winning edge.


Attached Image (click to enlarge)
Click to Enlarge Name: thisara2 #143,828 GU M15 chart 24-10-2023 6-57-17 am.png Size: 65 KB


You have the currency strength on your chart. I have tried that currency strength study after the OP passed away in 2012. I tried that too and gained some good learning experience.
How has that currency strength helped you in your trading?
If you can share with members here how you use that currency strength to pick the best pair from the list and what is your success like.

Quoting eelfranz
If any of you know something BASIC about trading the forex... that's helped you... post it for the benefit of others.. We have many newer traders it can help.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #143,833
  • Oct 23, 2023 6:27pm Oct 23, 2023 6:27pm
Quoting thisara2
WHAT'S TAGERT GBPUSD {image}

@thisara2

based on your M15 entry and exit +5R, I did a quick back-test using 2023 H4 and M15 price data.

with a win rate of 39% the +5R target is very good when we trade the H4 with M15 entries.

Using %Risk 'R' and Position Sizing one of the BASICs when trading the markets. Using R and R-Multiple is important over a long series of trades which will determine if your trading system has the WINNING EDGE.

Attached Image (click to enlarge)
Click to Enlarge Name: YourEA H4 M15 GU Jan to Oct 2023 24-10-2023 7-23-37 am.png Size: 20 KB



Quoting eelfranz
If any of you know something BASIC about trading the forex... that's helped you... post it for the benefit of others.. We have many newer traders it can help.
...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #143,834
  • Oct 23, 2023 6:48pm Oct 23, 2023 6:48pm
Quoting Fake'Dr'Dave
{quote} Why are you concerned about a post that has nothing to do with the system? The ToxicFakeTrader Emmanuel7788 has THOUSANDS OF SUCH POSTS ON THIS THREAD!
@Fake'Dr'Dave

Obviously Big E' 463 post in this thread did not helped you. He did direct you to babypips.com in his post #647 to learn the basics of trading forex.

You need to read all his posts in this thread again.

And when you are at babypips.com forum, you will learn from member named @Tymen there. He taught many traders how to use 2CLB for cut-loss in the worst case scenario. If you had learned that, then you would not have suffered that margin call in your TDA with IMT GU sell.

Your TDA with IMT is a failed system and thank you for sharing with people in FF. It hep people to stay away from many failed systems in FF.

minus 3053pips for 40 weeks...

Attached Image (click to enlarge)
Click to Enlarge Name: FakeDr GU sell 40 weeks DD 2-1-2021 1-29-14 pm.png Size: 48 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #143,835
  • Oct 23, 2023 7:24pm Oct 23, 2023 7:24pm
Quoting eelfranz
If any of you know something BASIC about trading the forex... that's helped you... post it for the benefit of others.. We have many newer traders it can help.
One of the many things about trading TMS 5-Method that has helped me in my ealry years back in 2010 is the correct use of the trading tools.

TMS_V19 expert advisor is a good trading tools to learn the 5-Method basics in post#261. It does not trade for you like an auto-trading robot. But I can help you with price action setup conditions which you then need to decide if you want to take a trade according to your prepared trade plan.

AJ Oct24 H1 example today at Tokyo Open

- the basic settings in TMS_V19 EA

- when I get an alert, I will then look at the price action on my trading chart for the current reversal or the last reversal for possible trade entry

- AJ H1 shows a breakout of the Master Candle consolidation at Tokyo 9am

- note the nr4IB conditions




Attached Image (click to enlarge)
Click to Enlarge Name: AJ Oct24 H1 TMS_v19 H1 setting for alerts 24-10-2023 8-16-04 am.png Size: 53 KB



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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #143,836
  • Oct 23, 2023 7:49pm Oct 23, 2023 7:49pm
Quoting emmanuel7788
{quote} One of the many things about trading TMS 5-Method that has helped me in my ealry years back in 2010 is the correct use of the trading tools. TMS_V19 expert advisor is a good trading tools to learn the 5-Method basics in post#261. It does not trade for you like an auto-trading robot. But I can help you with price action setup conditions which you then need to decide if you want to take a trade according to your prepared trade plan. AJ Oct24 H1 example today at Tokyo Open - the basic settings in TMS_V19 EA - when I get an alert, I will then...

some members prefers to see the Daily on their H1 chart

- what do you see with the Daily candles?

> I see potential of the Daily IB breakout and run ...

> or it can also fail to run ...

Attached Image (click to enlarge)
Click to Enlarge Name: AJ Oct24 h1 w Daily IB 24-10-2023 8-47-39 am.png Size: 34 KB




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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #143,837
  • Oct 23, 2023 8:32pm Oct 23, 2023 8:32pm
Quoting emmanuel7788
{quote} some members prefers to see the Daily on their H1 chart - what do you see with the Daily candles? > I see potential of the Daily IB breakout and run ... > or it can also fail to run ... {image} ...

AJ Oct24 H1 Tokyo 10am update:

- price moved higher and hit TP1 +1R level

- but had not closed above TP1 +1R level,

- trade management rule,

> move SL to BE+ only when price closed above TP1 +1R level

Attachment g


notes:
> look at TMS_V19 info display take notes
> Trend 2/8 H4 is green ...
> TDIC1 H4 is green ....
> PA above 5EMA green ...

> Stock 72.5 cross between 20 and 80 level is good ... 72.5 strong


Attached Image (click to enlarge)
Click to Enlarge Name: AJ Oct24 H1 Tokyo10am 24-10-2023 9-24-00 am.png Size: 34 KB



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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #143,838
  • Edited 12:35am Oct 24, 2023 12:07am | Edited 12:35am
Quoting emmanuel7788
{quote} AJ Oct24 H1 Tokyo 10am update: - price moved higher and hit TP1 +1R level - but had not closed above TP1 +1R level, - trade management rule, > move SL to BE+ only when price closed above TP1 +1R level 4573739 notes: > look at TMS_V19 info display take notes > Trend 2/8 H4 is green ... > TDIC1 H4 is green .... > PA above 5EMA green ... > Stock 72.5 cross between 20 and 80 level is good ... 72.5 strong {image} ...

AJ Oct24 H1 Tokyo 2PM update

- so far so good as price moves higher and 'testing last Friday' Thursday Oct19 high

- another H1 Inside Bar breakout potential for possible entry

- we are in the next 4hr trade window London 6am and

- we face the risks with Frankfurt Open FO and London Open LO

- we shall see if today ADR would be the intraday target later

- I set my TP at 95.45 and protect at the previous 2HA candle open

Attached Image (click to enlarge)
Click to Enlarge Name: AJ Oct24 H1 Tokyo 2pm update 24-10-2023 1-00-06 pm.png Size: 28 KB


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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #143,839
  • Oct 24, 2023 12:57am Oct 24, 2023 12:57am
Quoting Erebus
{quote} I refreshed the News page, and the Hottest story was 11 hours old...

Don't be late today Oct 24 EST 1:55am

Attached Image (click to enlarge)
Click to Enlarge Name: FF Cal Oct24 155am EST 24-10-2023 1-55-53 pm.png Size: 27 KB




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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #143,840
  • Oct 24, 2023 1:00am Oct 24, 2023 1:00am
Quoting emmanuel7788
{quote} Don't be late today Oct 24 EST 1:55am {image} ...

GU Oct24 H1 ADR

- should be a good trading day

Attached Image (click to enlarge)
Click to Enlarge Name: GU Oct24 H1 ADR EST 0159am 24-10-2023 1-59-15 pm.png Size: 25 KB




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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
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