My first 2 entry with this technique....entries - obvious reasons...stops - top of the pivots, TP...still considering...
Welcome any and all critique...please
Welcome any and all critique...please
Monitor for 'Trading Made Simple' system 565 replies
Trading Made Simple the right way, and other trading lessons 334 replies
Indicators for the 'Trading Made Simple' system 343 replies
MTF Indicators for the 'Trading Made Simple' system 241 replies
Trading Made Simple system follower - Thanks to eelfranz 9 replies
DislikedEmmanual, good points on TP, however some of us still working other jobs/business and got to make our living here, in forex land....so we must find a middle ground as it relates to TP's when we are not watching... Let's say there are 30 4H bars each week ...what if we take ATR 30 on 4H and use it as final PT, do you think it can be a good compromise?Ignored
DislikedMy first 2 entry with this technique....entries - obvious reasons...stops - top of the pivots, TP...still considering... Welcome any and all critique...please {image} {image}Ignored
DislikedEmmanual, R-Multiple levels...do you use 1X, 2X, etc..of the difference between H and L of the bar of entry?....or, can you expand on how you use R levels for 4H ST and PT...Ignored
DislikedEmmanuel, do you move your full position as each R level is reached? or do you use partial positions and get out partially with each R is reached?Ignored
DislikedHey guys any advice appreciated {image}{image}{image}{image}{image}{image}{image} London P/L: -150 New York P/L: NA Daily total: -150 London P/L: 450 New York P/L: -60 Aggregate Trades: 112 Aggregate P/L: 390Ignored
Disliked{quote} Over trading will shorten your career as a trader.... Dont say I did not warn you. Learn to pick A+++ trades and use smart money management to make the money and aim for higher Expectancy in your trading.Ignored
Disliked{quote} Hi, Very good points made by Harlem. I just want to add the following: 1. H4 trading is considered as short swing trading. It take 2 to 4 days to run within a week. Usually, I would prefer to close my H4 trades by NY close on Friday and not hold over the weekend. But that depends on situation , for example how much profit banked in and how much protected before NY close. Also look at calendar events on the weekend and see if there are key events, meetings, etc. It is better to closed all trades with profits and avoid weekend price gaps....Ignored
Disliked{quote} Thank you emmanuel for warning me. The two trades for the eur.usd and usd.chf was because I was trying to chase losses. Even though there was a cross and a bar, I knew that it was one of those long apb you were talking about and I was chasing the market.Ignored
Disliked{quote} Now the matter get more serious. You chase losses...revenge trades will damage your trading account faster than you think. Only A+++ trades + higher R trades + high Expectnacy will help build your trading account rapidly. It will also recover your account drawdowns quicker when your work the SMART way. Note: SMART is acronym and has nothing to do with the word meaning smart.Ignored
Disliked{quote} Yes emmanuel. I always remind myself to look at braekouts, psych numbers, fibs. But everytime I see 2-3 apb in a row and a cross, I consider that an entry and forget and disregard the other criteria.Ignored
Disliked{quote} Yes emmanuel. I always remind myself to look at braekouts, psych numbers, fibs. But everytime I see 2-3 apb in a row and a cross, I consider that an entry and forget and disregard the other criteria.Ignored
Disliked{quote} Hi tenmilewalk, You could write a checklist of things you might want to check before you enter a trade. I actually did that while I was learning and it helped me gain the discipline to check before entering. Eventually it will become second nature the more you do it as it becomes a habit. Don't give up!!Ignored
Disliked{quote} Hi tenmilewalk, You could write a checklist of things you might want to check before you enter a trade. I actually did that while I was learning and it helped me gain the discipline to check before entering. Eventually it will become second nature the more you do it as it becomes a habit. Don't give up!!Ignored
DislikedOne more thing emmanuel. This is the part of trading where I have experienced many times by now. Profit the first batch of trades, then the draw down. Whether it be nature of the strategy, personal judgement (most probable) or careless mistakes, this will be the part where I begin to venture on other strategies. The true test begins here. The first month and a half of results are negligible compared to what I need to do now.Ignored