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Monitor for 'Trading Made Simple' system 565 replies

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Trading Made Simple

  • #148,941
  • Oct 29, 2024 12:00am Oct 29, 2024 12:00am
Quoting 1dominican
{quote} Yes good trade, to exit i saw a reversal using 5 minutes chart and closed my trade with profits.
i reentered short
usdcad 4h chart
Attached Image (click to enlarge)
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""TP is whatever you can get before it goes against you.""
  • #148,942
  • Oct 29, 2024 12:12am Oct 29, 2024 12:12am
Quoting tony228
Is this an good entry that if I enter here? {image}

@tony228

It is a good entry when you have your stop loss 'R' in pips and use %risk$amount and have done your trade Position Size.
The win rate for such setup is 32%

But that is not best A+++ trade setup which has the potential for a +5R to +9R trade exit if you had done your #647 top down analysis and follow Big E post#281.

Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD Oct 29 H1 29-10-2024 3-10-50 pm.png Size: 31 KB



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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #148,943
  • Oct 29, 2024 12:22am Oct 29, 2024 12:22am
Quoting lynnc
2 attempts on gold yesterday, first one went back to breakeven, second went to take profit this morning, 1:5RR, set the take profit just under last weeks high and it just about made it. {image}

@lyncc

both your trades are not A+++ setup according the OP rules in this thread.

you are not consistent with your own rules.

both your buy entries hit the previous swing high which was significant and obvious.

some days retail traders do get lucky.

Attached Image (click to enlarge)
Click to Enlarge Name: lyncc XAU swings 29-10-2024 3-25-24 pm.png Size: 49 KB





Attached Image (click to enlarge)
Click to Enlarge Name: XAU Oct28 m30 review 29-10-2024 3-21-12 pm.png Size: 31 KB




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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #148,944
  • Oct 29, 2024 1:02am Oct 29, 2024 1:02am
Quoting emmanuel7788
{quote} @lyncc both your trades are not A+++ setup according the OP rules in this thread. you are not consistent with your own rules. both your buy entries hit the previous swing high which was significant and obvious. some days retail traders do get lucky. {image} {image} ...
The only rule I have when it comes to swing highs or lows is that there must be enough room to move to breakeven before hitting it, after all everything gets taken out eventually or price wouldn't move anywhere.
  • #148,945
  • Oct 29, 2024 2:14am Oct 29, 2024 2:14am
Quoting lynnc
{quote}The only rule I have when it comes to swing highs or lows is that there must be enough room to move to breakeven before hitting it, after all everything gets taken out eventually or price wouldn't move anywhere.

@lyncc

this explains why you have not been consistent for many years and why you have not been successful the last 3years.
Too many BE trades, few high EXPECTANCY trades above 5.0

your second trade +1.5R , it took many hours for price to move +1R for you to move your SL to BE+

Attached Image (click to enlarge)
Click to Enlarge Name: lyncc XAU swings 29-10-2024 3-25-24 pm.png Size: 49 KB





IF you take quality trades according to the OP rules in this thread and focus on picking only best A+++ setups with Risk Reward 1 :5, you do not need to move SL to BE.
Just set-and-forget ... one entry, two exits , ...

you can be rich in a few years.

Attached Image (click to enlarge)
Click to Enlarge Name: XAU Daily RR 1to5 29-10-2024 5-12-05 pm.png Size: 8 KB


...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #148,946
  • Oct 29, 2024 2:31am Oct 29, 2024 2:31am
Quoting emmanuel7788
{quote} @lyncc this explains why you have not been consistent for many years and why you have not been successful the last 3years. Too many BE trades, few high EXPECTANCY trades above 5.0 your second trade +1.5R , it took many hours for price to move +1R for you to move your SL to BE+ {image} IF you take quality trades according to the OP rules in this thread and focus on picking only best A+++ setups with Risk Reward 1 :5, you do not need to move SL to BE. Just set-and-forget ... one entry, two exits , ... you can be rich in a few years. {image}...
Firstly, my stop loss was nowhere near down there, I always place it just underneath the candle I have used as the setup candle, so yes it was 1:5, my risk calculator is always set at that and I just click to buy or sell. It was a 44.9 pip stop and take profit set at 224.5 take profit. Secondly, I would prefer to move to breakeven, thank you very much for the advice, but not asked for. Thirdly, it took less than an hour to move to breakeven.
  • #148,947
  • Oct 29, 2024 5:19am Oct 29, 2024 5:19am
Quoting lynnc
{quote}Firstly, my stop loss was nowhere near down there, I always place it just underneath the candle I have used as the setup candle, so yes it was 1:5, my risk calculator is always set at that and I just click to buy or sell. It was a 44.9 pip stop and take profit set at 224.5 take profit. Secondly, I would prefer to move to breakeven, thank you very much for the advice, but not asked for. Thirdly, it took less than an hour to move to breakeven.

@lyncc

It is quite simple. If your trade is 1.5R profit, then your stop loss is -1R.

Attached Image (click to enlarge)
Click to Enlarge Name: lyncc XAU swings 29-10-2024 3-25-24 pm.png Size: 49 KB




...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #148,948
  • Oct 29, 2024 5:23am Oct 29, 2024 5:23am
Quoting emmanuel7788
{quote} @lyncc It is quite simple. If your trade is 1.5R profit, then your stop loss is -1R. {image} ...
emmanuel! look like lyncc learn from tommy
we miss doctor, tekkie,tommy. they are on vacation or things.
  • #148,949
  • Oct 29, 2024 5:54am Oct 29, 2024 5:54am
Quoting emmanuel7788
{quote} @lyncc It is quite simple. If your trade is 1.5R profit, then your stop loss is -1R. {image} ...
No I said my trade was 1:5RR not 1.5R.

Quoting lynnc
2 attempts on gold yesterday, first one went back to breakeven, second went to take profit this morning, 1:5RR, set the take profit just under last weeks high and it just about made it. {image}
  • #148,950
  • Oct 29, 2024 6:02am Oct 29, 2024 6:02am
Quoting havenoidea
{quote} emmanuel! look like lyncc learn from tommy we miss doctor, tekkie,tommy. they are on vacation or things.
I am simply posting plain, tdi entries. Nothing in my posts deserves what Emmanuel is throwing out, so please read again.
  • #148,951
  • Oct 29, 2024 9:45am Oct 29, 2024 9:45am
Hi everyone. Great thread. I looked at the pg 25, but did not see any indicators.
  • #148,952
  • Oct 29, 2024 11:49am Oct 29, 2024 11:49am
Quoting emmanuel7788
{quote} @lyncc this explains why you have not been consistent for many years and why you have not been successful the last 3years. Too many BE trades, few high EXPECTANCY trades above 5.0 your second trade +1.5R , it took many hours for price to move +1R for you to move your SL to BE+ {image} IF you take quality trades according to the OP rules in this thread and focus on picking only best A+++ setups with Risk Reward 1 :5, you do not need to move SL to BE. Just set-and-forget ... one entry, two exits , ... you can be rich in a few years. {image}...
@emmanuel7788

Can you show us some examples of transactions from this backtesting?

Thank you!
  • #148,953
  • Oct 29, 2024 12:48pm Oct 29, 2024 12:48pm
Hello everyone.

Great to see familiar people still keeping Big E's trading legacy and memory alive!!

Been away from trading and the forum for many years.

Unable to use MT4 with my new broker.

Emmanuel7788, or anyone else please, I need Information on replicating Big E's indicators setup on Ninja Trader.

Thanks.
  • #148,954
  • Oct 29, 2024 4:56pm Oct 29, 2024 4:56pm
Quoting ZapPow
Hello everyone. Great to see familiar people still keeping Big E's trading legacy and memory alive!! Been away from trading and the forum for many years. Unable to use MT4 with my new broker. Emmanuel7788, or anyone else please, I need Information on replicating Big E's indicators setup on Ninja Trader. Thanks.

OP' post #9189

Quoting eelfranz
For those not having a MT4 Platform : In place of the TDI -> use the CCI set to 6 and for the level enter a 0.0 line. When the line crosses the 0.0 line you normally have a set up. This info was PM'ed to me ...
This will help you pick the 5-Method Price Action setups for entries. You will have to decide your exits - first exit is your Stop Loss -1R and the other exit is your Take Profit +2R to +5R.

Remember post #2617 below

[quote=eelfranz;4619118] most beneficial to learning this method for higher success... The answer was simple... study old charts for set ups... now strip down everything on that chart at that point... trends, angles, S/R levels, News times, Stoch angle within the 20-80 lines..etc. Burn it into your memory... I spent 2 years doing that.... so what does that mean? It takes me 15 seconds to strip a chart down to nothing including the TDI & Stoch's. Taking clean trades is a breeze for me... why? Read above... I can take you to water but I can't make you drink... follow the simple entry & exit rules. Forget other indicators. I went down those roads so you wouldn't have too... There is a handful who trade it correctly here who are rewarded nicely...[quote]
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #148,955
  • Oct 29, 2024 5:00pm Oct 29, 2024 5:00pm
Quoting moraru28
{quote} @emmanuel7788 Can you show us some examples of transactions from this backtesting? Thank you!

I can show you live trading

for example my post#148,811
https://www.forexfactory.com/thread/...4#post15035134

you can study the entries and exits in those posts link above and also on this chart below


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
  • #148,956
  • Oct 29, 2024 5:10pm Oct 29, 2024 5:10pm
Quoting Tfo4rex
Hi everyone. Great thread. I looked at the pg 25, but did not see any indicators.
it is Page 2 Post #25

and these posts links:

https://www.forexfactory.com/thread/...91#post4569691

https://www.forexfactory.com/thread/...05#post4569705

https://www.forexfactory.com/thread/...49#post4569749

and you need to correct the 5EMA setting to Exponential, Typical Price, Shift+2.

XAU Oct30

- Master Candle breakout

- Daily buy ... where and when to buy?

- what is your Stop Loss -1R?

- IF you lose, you lose -1R

- WHAT-IF you exit at +2R or better exit +5R



Attached Image (click to enlarge)
Click to Enlarge Name: XAU Oct30 Daily 30-10-2024 8-07-24 am.png Size: 35 KB


...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #148,957
  • Oct 29, 2024 5:16pm Oct 29, 2024 5:16pm
Quoting emmanuel7788
{quote} it is Page 2 Post #25 and these posts links: https://www.forexfactory.com/thread/...91#post4569691 https://www.forexfactory.com/thread/...05#post4569705 https://www.forexfactory.com/thread/...49#post4569749 and you need to correct the 5EMA setting to Exponential, Typical Price, Shift+2. XAU Oct30 - Master Candle breakout - Daily buy ... where and when to buy? - what is your Stop Loss -1R? - IF you lose, you lose -1R - WHAT-IF you exit at +2R or better exit +5R {image} ...

XAU Oct30

- first setup of the day BUEOB

- small SL

Attached Image (click to enlarge)
Click to Enlarge Name: XAU Oct 30 M30 BUEOB 30-10-2024 8-13-51 am.png Size: 21 KB


...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #148,958
  • Oct 29, 2024 5:26pm Oct 29, 2024 5:26pm
Quoting havenoidea
{quote} emmanuel! look like lyncc learn from tommy we miss doctor, tekkie,tommy. they are on vacation or things.
what if I told you the truth ...

they are all deep down their own rabbit hole after one thousand trades ...

and they need to follow Big E' post #2617 to get out from deep down their failure pit.

Attached Image (click to enlarge)
Click to Enlarge Name: Post 81 686 ReverseFlash.png Size: 171 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #148,959
  • Oct 29, 2024 5:34pm Oct 29, 2024 5:34pm
Quoting emmanuel7788
{quote} XAU Oct30 - first setup of the day BUEOB - small SL {image} ...

Here is my quick reply to Telegram groups questions:-

Trade Exit Management

- to maximise profit use the 50-30-20 rule and target +5R trade

- move SL to BE+ when the market gave you 50% i.e. move above TP3 level and closed.


Attached Image (click to enlarge)
Click to Enlarge Name: XAU Oct30 trade exit managent 30-10-2024 8-29-56 am.png Size: 16 KB




...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #148,960
  • Oct 29, 2024 10:36pm Oct 29, 2024 10:36pm
Quoting emmanuel7788
{quote} Here is my quick reply to Telegram groups questions:- Trade Exit Management - to maximise profit use the 50-30-20 rule and target +5R trade - move SL to BE+ when the market gave you 50% i.e. move above TP3 level and closed. {image} ...

Trade Management

XAU Oct30 M30 / Daily

- when price closed above the TP3 level,

- move SL to EP+5pips, this is BE+

- your trade is now considered a 'free trade'.

- you can look for another trade , can be this same pair or another currency pair.

- both the Stoch and TDI are useless here,


Attached Image (click to enlarge)
Click to Enlarge Name: XAU Oct30 TP3 move SL to BE 30-10-2024 1-30-23 pm.png Size: 57 KB



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