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Trading Made Simple

  • #148,801
  • Oct 21, 2024 12:50am Oct 21, 2024 12:50am
Quoting emmanuel7788
{quote} @lyncc thanks. R:R 1:3.5 is good More question, What are the two moving averages on your chart ? How do you use them ? {image} ...
Well it should be the 5ema typical shift 2 but I noticed over the weekend its set at 5sma, not sure why but I've changed it back, I like to see a candle close above it, but if a trade looks good I have taken trades below it as well. The other MA is the 1hr 62ema which I use as an ema it tends to bounce off if it hasn't visited it for a while. I don't like to take trades too close to it unless its been tested at least once.
  • #148,802
  • Oct 21, 2024 1:02am Oct 21, 2024 1:02am
I am going to an long position in this place, is it correct?

Something bothered me which the USD/JPY is having an down trend now and i am going long. is the signal more important or the trend?
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  • #148,803
  • Oct 21, 2024 2:18am Oct 21, 2024 2:18am
Quoting tony228
I am going to an long position in this place, is it correct? Something bothered me which the USD/JPY is having an down trend now and i am going long. is the signal more important or the trend? {image}
If I were in your position I’d wait for a stronger bounce from the support level and a break above the short-term moving averages before going long given the current downtrend
  • #148,804
  • Oct 21, 2024 2:44am Oct 21, 2024 2:44am
@emmanuel
Thank you very much for what you do, you help me a lot.
Currently I have problems configuring the TMS correctly because the values I need are those of Spain and the default ones come from the USA
I could take a larger screenshot of your TMS and post the same.
First of all, thank you very much for responding and I follow your posts.
delighted to be able to read you.
sorry for the english it's from google translate
  • #148,805
  • Oct 21, 2024 3:47am Oct 21, 2024 3:47am
Quoting tony228
I am going to an long position in this place, is it correct? Something bothered me which the USD/JPY is having an down trend now and i am going long. is the signal more important or the trend? {image}

USDJPY 4Hr/Daily/Weekly is a crossroad

where Bulls will make money, Bears will make money, ... only the PIGS get slaughtered.

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...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #148,806
  • Oct 21, 2024 3:51am Oct 21, 2024 3:51am
Quoting tommydoginti
{quote} Certainly. {image}
@tommydog....

thanks for the Daily statistics.

but you did not show your Monthly statistics for 2023 and 2024.

Quoting emmanuel7788
{quote} hey @tommydog... Your Hourly trade statistics show 220 trades closed. Please show the same 220 distribution on the Monthly base for 2023 and 2024, and the Daily statistics. Thank you. ...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #148,807
  • Oct 21, 2024 6:37am Oct 21, 2024 6:37am
Quoting lynnc
{quote}Well it should be the 5ema typical shift 2 but I noticed over the weekend its set at 5sma, not sure why but I've changed it back, I like to see a candle close above it, but if a trade looks good I have taken trades below it as well. The other MA is the 1hr 62ema which I use as an ema it tends to bounce off if it hasn't visited it for a while. I don't like to take trades too close to it unless its been tested at least once.
thanks for the tip.
i'm adding the 62 ema too
""TP is whatever you can get before it goes against you.""
  • #148,808
  • Oct 21, 2024 6:56am Oct 21, 2024 6:56am
Quoting 1dominican
{quote} thanks for the tip. i'm adding the 62 ema too

I recall a trader from Jack Schwager Market Wizard added a 63EMA to his trading system sold online.

When asked why he changed the original 50EMA to 63EMA, his answer was 63 was his age that year.

Google 62EMA The River system
https://www.forexstrategiesresources...iver-modified/


you can also add a 72EMA from Start's PASR thread and learn how to use the 72EMA with Big E' 21/233 Method.

https://www.forexfactory.com/thread/...s-free-trading


..
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #148,809
  • Oct 21, 2024 7:06am Oct 21, 2024 7:06am
Quoting 1dominican
{quote} fellow trader his past trade or if he made momey or not, that do not help us that is he money what could help us is that we post our bias before we take that trade or right after we take it then we can check it out to see if we like it =============================== this is my bias for usa 30 {image}

@1dominican

Do you know Big E mentioned for his 8 pairs there are 3 to 4 setups per evening and he make $500 to $1000 per evening.

If he take 3 trades per evening that would work out to 15 trades per week and 780 trade in one year.

He risk 15% to 30 % of his USD10,000 trading full standard lots. His high risk low reward trades mean he need a very high win rate of 85% .

The key point here is the Expectancy of the system trader.


...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #148,810
  • Oct 21, 2024 7:31am Oct 21, 2024 7:31am
Quoting emmanuel7788
{quote} I recall a trader from Jack Schwager Market Wizard added a 63EMA to his trading system sold online. When asked why he changed the original 50EMA to 63EMA, his answer was 63 was his age that year. Google 62EMA The River system https://www.forexstrategiesresources...iver-modified/ you can also add a 72EMA from Start's PASR thread and learn how to use the 72EMA with Big E' 21/233 Method. https://www.forexfactory.com/thread/...s-free-trading ..
thank you for the tips
""TP is whatever you can get before it goes against you.""
  • #148,811
  • Oct 21, 2024 7:33am Oct 21, 2024 7:33am
Quoting emmanuel7788
{quote} TMS-II Trades Closed XAU Week 42 Oct 18 trades closed - total 3 batches - total 696 pips {image} ...
Attached Image (click to enlarge)
Click to Enlarge Name: XAU Oct18 TMS-II trades closed 18-10-2024 3-34-59 pm.png Size: 17 KB




{image}

XAU Oct 21 New York Open

- bullish

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- today I closed another batch and now re-open new batch

- total 1255 pips


Attached Image (click to enlarge)
Click to Enlarge Name: XAU Oct21 closed trades 14 1255pips 21-10-2024 8-11-58 pm.png Size: 25 KB




...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #148,812
  • Oct 21, 2024 7:40am Oct 21, 2024 7:40am
Quoting lynnc
{quote}Well it should be the 5ema typical shift 2 but I noticed over the weekend its set at 5sma, not sure why but I've changed it back, I like to see a candle close above it, but if a trade looks good I have taken trades below it as well. The other MA is the 1hr 62ema which I use as an ema it tends to bounce off if it hasn't visited it for a while. I don't like to take trades too close to it unless its been tested at least once.
@lyncc

thanks again.

the 62EMA is also Rob Booker' system. Anyway its good so long you have written your rules on 62EMA use.

With Risk-Reward 1 to 4, you only need to take one trade per day and a Win Rate of 33%, trading 1 std.lot

you will rich.

Attached Image (click to enlarge)
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...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #148,813
  • Oct 21, 2024 7:50am Oct 21, 2024 7:50am
Quoting emmanuel7788
{quote} XAU Oct 21 New York Open - bullish {image} - today I closed another batch and now re-open new batch - total 1255 pips {image} ... {image}
thanks.
are still long gold or it was just a short term trade?
any bias for a daily chart trade any market?

There is power in the numbers if i like your trade after i checket it ou there will be Alignment a lot traders entering the same trade
""TP is whatever you can get before it goes against you.""
  • #148,814
  • Edited 8:23am Oct 21, 2024 7:58am | Edited 8:23am
Quoting emmanuel7788
{quote} @lyncc thanks again. the 62EMA is also Rob Booker' system. Anyway its good so long you have written your rules on 62EMA use. With Risk-Reward 1 to 4, you only need to take one trade per day and a Win Rate of 33%, trading 1 std.lot you will rich. {image} ...
please wich rules and time frame did you used to get that win rate?
""TP is whatever you can get before it goes against you.""
  • #148,815
  • Oct 21, 2024 1:33pm Oct 21, 2024 1:33pm
hello all

please how can we avoid this wrong setup ... in the first u think that a complete setup ???
Attached Image (click to enlarge)
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Fake it till you make it
  • #148,816
  • Edited 4:39pm Oct 21, 2024 3:37pm | Edited 4:39pm
Good evening family!!!, I would like to learn some TMS method. I operate supply and demand, I look for those zones in daily TF and I make the entries in H4 or H1, I don't like being glued to the screen, less stress and more free time, what TMS method do you recommend for operating in those TF and where do I have to start? I'll start reading from page 1, let's see how long it takes. Thanks!!!
  • #148,817
  • Oct 21, 2024 3:39pm Oct 21, 2024 3:39pm
Quoting Miloncef
hello all please how can we avoid this wrong setup ... in the first u think that a complete setup ??? {image}
Check at least 1 timeframe higher. Don't try to fight the trend, and especially know when you're wrong and come out of it so you can go into another setup. If you had come out when it signalled the other way, and with the htf trend you would have more than made up for the loss.
  • #148,818
  • Oct 21, 2024 5:13pm Oct 21, 2024 5:13pm
Quoting lynnc
{quote}Check at least 1 timeframe higher. Don't try to fight the trend, and especially know when you're wrong and come out of it so you can go into another setup. If you had come out when it signalled the other way, and with the htf trend you would have more than made up for the loss.

thanks for ur answer so u mean that should i work in 4H TF
Fake it till you make it
  • #148,819
  • Edited 8:11pm Oct 21, 2024 7:48pm | Edited 8:11pm
Quoting Miloncef
hello all please how can we avoid this wrong setup ... in the first u think that a complete setup ??? {image}

There is no such thing as a wrong setup. Some setup S/U candles has higher SQN than others.
Big E said several times you can overwrite the Stoch and TDI with more experience.

To become a super trader, you need to pick the best A+++ setup which meet the ten(10) criteria. MTFA is just one of 10 things you must master.

There is strong PPA support/resistance below the RN 1.0860.
Also the price action convergence / divergence is bearish.

IF you only look at H1, then you need to read the candles and the swing high and swing low. That candle of you buy was another swing low, two consecutive swing lows means you have a see the price close above the first swing low. THis where a True REVERSAL has been confirmed and a higher probability setup S/U for continuation.

Attached Image (click to enlarge)
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...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #148,820
  • Oct 21, 2024 8:07pm Oct 21, 2024 8:07pm
Quoting Xayanne
Good evening family!!!, I would like to learn some TMS method. I operate supply and demand, I look for those zones in daily TF and I make the entries in H4 or H1, I don't like being glued to the screen, less stress and more free time, what TMS method do you recommend for operating in those TF and where do I have to start? I'll start reading from page 1, let's see how long it takes. Thanks!!!
hi @Xayanne

WELCOME to Trading Made Simple thread by @eelfranz aka Big E

how long will it take you?

when you have finished, you start posting charts and I will be at base camp to guide you in further conditioning for the climb higher ...
If you think you need to go to boot-camp I will start one very soon.


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