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Trading Made Simple

  • #20,121
  • May 31, 2013 3:43am May 31, 2013 3:43am
Quoting emmanuel7788
Hi Everyone, Here is something for your weekend reading: But remember priority is still time for your spouse/partner, children, friends and neighbours, .... trading is best kept after this order. Enjoy! {image}
Hello Emmanuel7788,

Thanks for the ebook..
I just sent to you a messenger, could you please check?

Thanks you!
  • #20,122
  • May 31, 2013 4:13am May 31, 2013 4:13am
AUD/NDZ

what happened here ? entered at red line and reveres hardcore. someone explain
Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 45 KB
  • #20,123
  • May 31, 2013 4:33am May 31, 2013 4:33am
31 May USD pairs 4H:

are there no trade setups?

Do you known how to 'scalp' 4H the way Big E did it?
Attached Image (click to enlarge)
Click to Enlarge Name: USD pairs 4H setups 31 May LO+ 31-5-2013 5-28-43 PM.png Size: 130 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #20,124
  • May 31, 2013 5:05am May 31, 2013 5:05am
Closed my Eur trade when TDI crossed... Just under 4% for the trade.
No more trading for me tonight.

But keen to learn how Big E scalp 4h!!

thanks for all your time Emmanuel!


Quoting emmanuel7788
31 May USD pairs 4H: are there no trade setups? Do you known how to 'scalp' 4H the way Big E did it? {image}
  • #20,125
  • May 31, 2013 5:31am May 31, 2013 5:31am
Quoting emmanuel7788
Hi Everyone, Today no trading for me as I close shop for the month after clsoing my trades yesterday. Today is relaxing time but I am addicted to my charts so I keep watch and do some back-testing. Also followup with FF PM I realised I missed quite a few PMs and had to apologise to those whom I did not reply you last week. Three Powerful FOREX Price Patterns Anyway, here is attached one pdf titled above on price candlestick patterns which I think is useful to explain how a few common candlestick patterns can be traded using TMS as the base system....

Hi Emmanuel,

What do you mean by scale in and scale out of positions?

Is this the same as using the R multiple method of trade management for SL/TP?
  • #20,126
  • May 31, 2013 5:40am May 31, 2013 5:40am
Quoting irishtoffy
{quote} Hi Emmanuel, What do you mean by scale in and scale out of positions? Is this the same as using the R multiple method of trade management for SL/TP?

you can read up first and get a general idea what is scaling in trading:

http://www.babypips.com/school/what-is-scaling.html

R multiple is used to determine the price movements and profitability in relation to the initial risk R of each trade.

Then with R multiple we determine the Expectancy of your trading system.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #20,127
  • Edited 6:32am May 31, 2013 5:55am | Edited 6:32am
Quoting rxJano
AUD/NDZ what happened here ? entered at red line and reveres hardcore. someone explain {image}
http://www.forexfactory.com/attachment.php?attachmentid=1204283&stc=1&thumb=1&d=1369991583

This happens when we trade the market. Therefore we should be glad we have SL in all our trades to protect our capital from going to ruins.

Anyway, before we start our trading day, I usually look my my Weekly to see where the market is going. Then I look at Day charts to see what happened the previous day.

This is what I see on the D chart below. There are risks for every trade. You sell at previous day close and think of price reversal against a strong bull D candle.
Usually D corrections can be shallow or deep down to Fib-r 61%.
As buyers, we wait for Fib-r and buy at Fib-r 38/50% using PA on lower TF like H4 and H1.

Hope this explains what I see that happened. Well hindsight is 20/20 vision, pardon me for this.

Regards,
EMMANUEL
Attached Image (click to enlarge)
Click to Enlarge Name: AUDNZD 31 May POMO 31-5-2013 6-41-53 PM.png Size: 66 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #20,128
  • May 31, 2013 6:02am May 31, 2013 6:02am
I would like to know how to set ATR for the original BIG E system.
I have been using ATR(5) , is that a good solution ?
  • #20,129
  • May 31, 2013 6:06am May 31, 2013 6:06am
good morning..
overslept and miss EJ and GJ mve from london open but caught EU short on 4h tf, 20 some pips in black at the moment.
lets see if it has momentum to keep on the downward pressure hey.
also is waiting on EJ and GJ see if there is any reversal chance as 1h tf seems to be consolidating
going back to bed, back in....40 mins
Daniel
  • #20,130
  • May 31, 2013 6:10am May 31, 2013 6:10am
Quoting Prominent88
{quote} Hi Emmanuel, I have heard you post a few times in previous post mention about having Plan A, B, C. Although I know what is Plan A, B, C, but I do not know how to have Plan A, B, C when I am in the trading. Usually I will only have 1 open trade for a pair in a time. Can you elaborate more about Plan A, Plan B and Plan C. Thanks, Prominent88

Prominent88,

For now, you can continue to trade 1 open trade per pair at a time. You post your trades showing on charts and I will show you using your trades as example what is Plan A and what a Plan B should be. This is the better way for you to learn and practice using realtime trades as examples.

regards,
EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #20,131
  • May 31, 2013 6:10am May 31, 2013 6:10am
Quoting emmanuel7788
Hi Everyone, Here is something for your weekend reading: But remember priority is still time for your spouse/partner, children, friends and neighbours, .... trading is best kept after this order. Enjoy! {image}

Hi Emmanuel,

As tomorrow is a new month, can you please advise any special preparation that we need to do.
Do we refer to the previous month for the trend, or.....?

Still studying reading and trying,
Regards,
Rosemary
  • #20,132
  • May 31, 2013 6:11am May 31, 2013 6:11am
Quoting Greenb
good morning.. overslept and miss EJ and GJ mve from london open but caught EU short on 4h tf, 20 some pips in black at the moment. lets see if it has momentum to keep on the downward pressure hey. also is waiting on EJ and GJ see if there is any reversal chance as 1h tf seems to be consolidating

good morning too...

don't sleep on the job .
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #20,133
  • May 31, 2013 6:14am May 31, 2013 6:14am
Quoting emmanuel7788
{quote} good morning too... don't sleep on the job .
need one of those high school alarm clock. also coffeeeeeeeeeee
Attached Image
Daniel
  • #20,134
  • May 31, 2013 6:21am May 31, 2013 6:21am
Quoting Prominent88
{quote} Hi Emmanuel, I like this TOK 5H breakout also, and sometimes I do trade this TOK 5H breakout also, just that I have a few questions: a. which pairs are suitable for using this breakout? b. how to measure the range for breakout? c. which TF is the most suitable to trade this breakout? d. is there any indicator, template or EA in the market use to trade this breakout? Appreciate for any reply. Regards, Prominent88

answers to Questions a. , b. and c.
- are in my written post and that chart.

answer to Question d.
Do you know that i am a very lazy person and trader? I develop my own indicators and scripts to do charting work for me and make my life easy.
I don't trade using EA robots if that is what you asked. I can't be that lazy to let some software do my trading for me and lose my hardearn money quicker that I can.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #20,135
  • May 31, 2013 6:31am May 31, 2013 6:31am
Quoting Greenb
{quote} need one of those high school alarm clock. also coffeeeeeeeeeee {image}

this is how traders should be sleeping ... without need for alarm clock
Attached Image (click to enlarge)
Click to Enlarge Name: sleeping position for traders.png Size: 294 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #20,136
  • May 31, 2013 6:33am May 31, 2013 6:33am
Quoting emmanuel7788
{quote} this is how traders should be sleeping ... without need for alarm clock {image}
Hahahaha gravity alarm clock, i like it!!!
Daniel
  • #20,137
  • May 31, 2013 6:43am May 31, 2013 6:43am
Quoting suhail.shah
I would like to know how to set ATR for the original BIG E system. I have been using ATR(5) , is that a good solution ?

Do you trade 4H like Big E?

He places his initial SL above/below the last price swing high or low. Sometime he does use SL when he sit and monitor his trades for the first 3 hours during NY open session.

I know many experienced traders uses ATR(7) for D trading.

For 4H swing trading, I use the previous swing high or lows and compare that with the average of the sum of {ATR(5)+ATR(10)+ATR(15)+ATR(20)} of H4.
I am a very complicated person that's what my wife tells me all the time.

Or you can make things very simple and use Volatility Stop like the one called ChandelierExit indicator attached here.
To know what this ChandelierExit is all about go to this website and study.
http://forex-indicators.net/volatili...handelier-exit


Have fun!
Attached File(s)
File Type: mq4 ChandelierExit.mq4   4 KB | 917 downloads
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #20,138
  • May 31, 2013 6:52am May 31, 2013 6:52am
Quoting rosiew7
{quote} Hi Emmanuel, As tomorrow is a new month, can you please advise any special preparation that we need to do. Do we refer to the previous month for the trend, or.....? Still studying reading and trying, Regards, Rosemary
hi rosiew,

Tomorrow market is closed for me to total up my pips made for this month.

Seriously, what I do is the same every weekend i.e. to update my Big Picture plan for all my traded pairs. Then I do my trade plan for next week.
All these requires me to look at the trends for different trading strategy - position trades, and short term 4H swing trades.
Study carefuly those currency pairs which have been trending for quite long time like the JPY pairs and recently the NZD.
Identify for each currency pair the market type - trending, narrow range consolidation or wide range consolidation.

Generally this is all I do on Sunday night at UK time 1900hour.

Regards,

EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #20,139
  • May 31, 2013 7:01am May 31, 2013 7:01am
Hello Emmanuel,

I sent you a PM, hope you got it?
  • #20,140
  • May 31, 2013 7:03am May 31, 2013 7:03am
looks like its continuation for EJ to see if it can keep hold and break range trading .. no reversal for me. oh well.
EU is still slow too. 1 last push for hte day...maybe :hopeful:
Daniel
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