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Trading Made Simple

  • #19,821
  • May 26, 2013 6:20am May 26, 2013 6:20am
Over the weekend I was thinking about a more philosophic question:

What comes first: success or money?

I assume that money is coming after success and not reverted. I assume that only successful people can be a profitable trader. In other words: the way you design your life, your attitude, your organizational skills, self-management skills and your intelligence are much more important than any trading system.
Many people get the idea of becoming rich by trading. They jump into the markets and get burned. I assume that people who are not already successful in their life can’t be successful as a trader. That means only people, who are successful in their job, already earn good money, have a car, a nice family or are very successful in any other discipline like sport or whatever can be successful as a trader. Being already a successful person is the main reason of being a profitable trader.

The next question comes: why should people who are already successful in their life start as a trader? Trading can be so boring: stick to the rules, stick to the rules, stick to the rules… I assume to survive as a trader, you need goals apart from being rich: as I mentioned above you already should be successful in any other discipline so why focusing on becoming rich if you are already rich? I think it’s about goals, it’s all about the question: once I am done with my job on this earth, what should be my personal contribution at this moment?

Am I already successful in my life?
I think yes.

What shall be my contribution to this planet?
I have some ideas but still developing my master plan...

Cheers Bernhard
  • #19,822
  • May 26, 2013 6:23am May 26, 2013 6:23am
Quoting emmanuel7788
Exit question: Here is your Saturday night quiz before I go out to party this wild Sat night. Tell me which candle will you exit this trade example. See chart below. Just give me the candle number and your reason(s). Try it first and before I post the next lesson on Exit Management using PA. {image}
Hello emmanuel. I hope you are having a wonderful weekend and getting time away from computer.
Saturday night - wild - i bet you party hard. Rumors have it you are a Party Animal!!!!!!(LOL!!)
For some great time, you are most welcome back at Lygon street, Carlton. You are probably due for another visit soon.

LOL!! on a less serious note,regarding your Exit question quiz, I would exit the trade at candle nr 5. It is the first candle with a strong pullback, compared to all the previous
candles that had strong closes above their opens. Obviously strong momentum there.
The upthrust ran for many hours along with a strong tdi. Other strong evidence of a pullback at candle nr 5 is the tdi passed the 68 line and outside of the volatility bands
and started to hook back inside of the bands, down at 4-6 o'clock. Finally the green and red started getting tighter.
I hope my understanding of these similar setups are getting clearer.
Your critique will be of most benefit.
Thank you.

Steve
  • #19,823
  • May 26, 2013 6:47am May 26, 2013 6:47am
Hi,

Just wanted to check my weekly bias results from the Big Picture planning, so as to be sure I am not trading against the trend!

AudUsd - Sell
EurGbp - Sell
EurUsd - Sell
EurYen - Not sure? W I think says Buy, but friday had a big bear CS
GbpUsd - Sell
GbpYen - Not sure? W trend says buy, but last 2 weeks have red CS
NzdUsd - Sell
UsdCad - Buy
UsdChf - Not sure? W trend says buy, but last 2 weeks CS have been red
UsdYen - LT trend says buy, but last week red CS?


Thanks, any and all advice appreciated!
  • #19,824
  • May 26, 2013 8:02am May 26, 2013 8:02am
Quoting Greenb
{quote}

Loss no1:At 1 point, trade move in your direction for more than 50 pips. when that happens, i would have put my SL at BE. after all if price move your way 50 pips, it should not do a u turn suddenly and bite you right. Also notice how on the 3rd bear candle it has a big pullback closing the candle with a long wick and a flat TDI? that should have been your exit point.

Loss no2:2nd bull candle has a long pull back wick. Price close at exactly where it opens no?what does that tells you? (try to imagine bear and bull as playing tug...
Hi Greenb,
thanks for your response.

Loss Nr 1: according to my rules I should have exited after green line got flat which is actually at the 4th red bar. Additionaly I just figured out that this trade hase been done on Friday an should have been closed before weekend-close.

Loss Nr 2: yes, next time I will have a look at that.

Loss Nr 3: I saw a trend channel and expected the market won't change the direction. I agree I din't looked at 1.3600. (see attachement)

Loss Nr 4: yes, I din't follow the TMS rule "green goes flat: take your bag" or something like that...

Loss Nr 5: "TDI turnes flat: take your bag"

My conclusion: counter trend is not my friend!

Cheers Bernhard

Attached Image (click to enlarge)
Click to Enlarge Name: eurusdh4-loss-nr3.png Size: 50 KB
  • #19,825
  • May 26, 2013 9:49am May 26, 2013 9:49am
Quoting thewriter30
Bernard, hi mate. just wondering if you attached your indicator to your posts, i couldn't see it! Great job! Emanuel, I know many questions take your time, so will only ask 1 at a time, you do what you call good (thanks in advance) ALSO OTHERS are welcome to help!!! i mean if I knew the answers I would, so why only Emmanuel answers questions guys? it's like we all rely on one guy Emmanuel, so I attached you previous diagram on GU explaining all the potential trade that I definitely missed. I see many of them do NOT respect the rule which I thought...
TDI 32/50/68

When we see TDI cross at these level 32/50/68, ... we must look back to previous PA to see if the TDI Green cross Red is a high probability setup top take a trade.

When TDI green/red cross below 32 or above 68, at S&R. Or elsewe must check for historcial support and resistance and look for trend reversal. There must be strong reversal PA showing reversal and at S&R.

Big E has very few mention about TDI 32/50/68...only post#270.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: TDI 68 example 2.png Size: 88 KB
Click to Enlarge Name: big E post 270 on scalp .png Size: 137 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #19,826
  • May 26, 2013 9:56am May 26, 2013 9:56am
Quoting BernhardA
Hi Emmanuel,Thanks for your hint using the CTRL + Y and CTRL + G! You gave me the idea to look for a complete list of short cuts. I found this: http://forums.babypips.com/newbie-is...tcut-keys.html Concerning your exit question:I would exit at the close of Nr 5. Reason: the green line is coming back and the candle has a wick. “Invest in a good high res LED monitor”: yes, that is the next step.“Do you live in Bavaria?”: no, I live in Stuttgart… but I am not a Swabian... I more feel like a cosmopolitan Cheers Bernhard...
how about your mouse scroll wheel?

when your are on your chart, press your mouse scrool wheel ... and your chart cross-hair pops up...

here in FF is all the good stuff on MT4 :

http://www.forexfactory.com/showthread.php?t=67529

Enjoy!
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #19,827
  • May 26, 2013 10:03am May 26, 2013 10:03am
Quoting Nellycopter
Hi All,I know this is the wrong place to ask but it is the most active thread with the most replies, answers,help and guidance.i am following the TMS and as a newbie agree have a lot to learn,i have added auto Fibs to my chart to make things a little easier for myself, i wait for the Tdi to give the signal but wait for it to happen as the price breaks out of the 100 or 0 levels from yesterday hi low (on h1 chart) or last week hi low (4h chart) i have found that i have much better chance of price continuing in that direction and exit as per the TMS...
post this in the Platform tech forum, there are many good techies there who are very willing to help in such things...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #19,828
  • May 26, 2013 10:21am May 26, 2013 10:21am
Quoting irishtoffy
Hi, Just wanted to check my weekly bias results from the Big Picture planning, so as to be sure I am not trading against the trend! AudUsd - SellEurGbp - SellEurUsd - SellEurYen - Not sure? W I think says Buy, but friday had a big bear CSGbpUsd - SellGbpYen - Not sure? W trend says buy, but last 2 weeks have red CSNzdUsd - SellUsdCad - BuyUsdChf - Not sure? W trend says buy, but last 2 weeks CS have been redUsdYen - LT trend says buy, but last week red CS? Thanks, any and all advice appreciated!
Monday UK and US bank holidays... so we shall see how market will be like then I decide to trade on Tuesday.
On Wednesday ...BoJ Kuroda will speak again. His speech will be crucial to see if Yen weakens further.

We are in the last trading week for this month MAY. checking the weekly chart for bias is a good thing which I do every week. But I will also look at Monthly chart to see where we are at for the MN candles. In some cases, we are trading in the shadow of this month' candle.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #19,829
  • May 26, 2013 12:42pm May 26, 2013 12:42pm
Hi

looking for a mentor regarding TD1
  • #19,830
  • Edited May 27, 2013 1:19am May 26, 2013 2:39pm | Edited May 27, 2013 1:19am
Here we are again, Sunday evening means 'Bigger Picture work' - followed by an hour in the pub - :nerd: then


I got a bit of interest from one of my posts last week so attached is a PDF showing how to back-up your MT4 installation, it also deals with how to get at your trades in an emergency and how to make your life a bit easier if you use multiple MT4 installations.


There is a 'Tips' section in it containing a few bits-and-pieces that generally make your trading life a bit easier, if anyone has anything new and pretty universally useful I'd be pleased to add it to the PDF - and use it myself of course.


'looking forward to another great week with TMS - last week I ended at +15% on each of my two main accounts - one of my best weeks ever, I currently only use the TMS method,


For me the secret of TMS is patience -- wait for the A+++ trade then take it for the full amount your money management allows - which for me is 2% at the moment.


Good trading everyone!


Andy.
Attached File(s)
File Type: pdf Backing up MT4.pdf   2.3 MB | 6,500 downloads
File Type: doc Backing up MT4.doc   2.5 MB | 728 downloads
Don't ask me, I have no idea what's going on.
  • #19,831
  • May 26, 2013 6:52pm May 26, 2013 6:52pm
Quoting madarwin
Hi looking for a mentor regarding TD1
Hi madarwin,

Welcome,

not sure if I understood your request, but if you are looking for explanation of the TDI indicator, there are several posted materials here.

Learn to use this forum features for example the paper clip to look for attachments...

If you have specific question, please post them and also attach your chart .

Regards
EMMANUEL
Attached Image (click to enlarge)
Click to Enlarge Name: FF use paper clip .png Size: 179 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #19,832
  • May 26, 2013 7:14pm May 26, 2013 7:14pm
Thank You Big E,
Since I'm new to trading its a start
  • #19,833
  • May 26, 2013 7:17pm May 26, 2013 7:17pm
Quoting Gizzledonk
Here we are again, Sunday evening means 'Bigger Picture work' - followed by an hour in the pub - :nerd: then I got a bit of interest from one of my posts last week so attached is a PDF showing how to back-up your MT4 installation, it also deals with how to get at your trades in an emergency and how to make your life a bit easier if you use multiple MT4 installations. There is a 'Tips' section in it containing a few bits-and-pieces that generally make your trading life a bit easier, if anyone has anything new and pretty universally useful...

Hi Andy,

Excellent document put together and shared here. Good content, structure and professionally done.
I am very impressed.
Thank you very much.

Regards
EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #19,834
  • May 26, 2013 8:38pm May 26, 2013 8:38pm
Quoting madarwin
Thank You Big E,Since I'm new to trading its a start
madarwin,

Correction:
I am not Big E... Big E is eelfranz and he is the starter and owner of Trading Made Simple (TMS).

Since you are new to trading, good to start at School of Pipsology and graduate there first. Here in TMS, we are quite advance into trading. You may find itb hard to catch up and keep pace with the experineced traders here.

http://www.babypips.com/school/preschool/

Have patience, take your time to learn to trade. Important to build a strong basic foundation and grow from it.

Regards,
EMMANUEL
Attached Image (click to enlarge)
Click to Enlarge Name: eelfranz aka Big E.png Size: 34 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #19,835
  • May 26, 2013 8:44pm May 26, 2013 8:44pm
Quoting Pipsmurfer
Hi folks, I saw that some people were asking about the ATR values that Emmanuel uses. I did some homework and made a template and a profile. Save the file atr.tpl in your Template folder and the ATR_WEEK in your Profiles folder. Restart MT4. You should see something like attached image. You only have to open the data window manually. This isn.t stored in the profile. When you move the mouse over an currency window you can see the value's of the ATR in the data window. Off course you can change the profile with your own currencies, or even add more...

Excellent share.

This is exaclty how I do it.No need for any fancy indicator to load our slow PC CPU.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #19,836
  • May 26, 2013 8:54pm May 26, 2013 8:54pm
Quoting sdff
Hello everyone, This is my first post. I found this thread some weeks ago and immediately liked the simplicity of this method. I also appreciate the good mood of the members discussions. I have tried few trades, demo and live on mini account, with a bit more loosers than winners. But I practise.Below is a EJ H1 trade I considered but finally did not take, although it turned positive. It was not a A+++ setup since: ejh11.Green line was not steep enough2.Candle 1 was hesitating (1st white line) ejd1Daily trend was in a range et current day had no...
Hi sdff,

Good first post. Note that your first fwe posts don't get shon in realtime as ther FF moderator will do his job before allowing your post to be seen by all.

Anyway, I saw your post while I catch up with all the posts of the recent days.

reading your post, I think you have a good fundamental understanding how to use multi-timeframe analysis and know how to pick and time your trading. This is very good.

Trade the momentum of the previous days and following the Primary Trend all the time.
Counter Trend (CT) trading is more risky hence I usually avoid CT trade unless there is s strong possibility of correction wqhich has enough room to pick up some pips.

Regards,
EMMANUEL
Attached Image
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #19,837
  • May 26, 2013 9:10pm May 26, 2013 9:10pm
Quoting emmanuel7788
Exit question: Here is your Saturday night quiz before I go out to party this wild Sat night. Tell me which candle will you exit this trade example. See chart below. Just give me the candle number and your reason(s). Try it first and before I post the next lesson on Exit Management using PA. {image}


so few members tried this quiz...
Attached Image (click to enlarge)
Click to Enlarge Name: Exit question.png Size: 27 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #19,838
  • May 26, 2013 9:24pm May 26, 2013 9:24pm
Close of candle 5. TDI flattening Large wick (I don't use a stoch)
  • #19,839
  • May 26, 2013 9:35pm May 26, 2013 9:35pm
Quoting emmanuel7788
{quote} so few members tried this quiz... {image}

I would exit at Candle 4 because of the TDI..

I also would like to take the opportunity to thank you for posting to educate us and help us learn this method and the PA actions. Thank you!
  • #19,840
  • May 26, 2013 10:08pm May 26, 2013 10:08pm
Hi,
I would exit beginning of Candle 6, change of colour, TDI crossing over, candle 5 closed low, (pullback) candle,
again confirmed with opening of candle 6. just my 2 cents FWIW.....
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