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Trading Made Simple

  • #22,101
  • Jul 18, 2013 8:54pm Jul 18, 2013 8:54pm
Quoting emmanuel7788
{quote} do you use M15 PAC to scalp ? that should work for you...

I'll give it a try.Now I am looking at H1 and H4 only.
Failure, is a wonderful teacher!
  • #22,102
  • Jul 18, 2013 8:55pm Jul 18, 2013 8:55pm
Quoting mike1349
{quote} Come on Emmanuel.....you don't need my "Praying System" It is for newbies like me so please DO NOT make God busy....your TP is already hit I am praying for my SL not to hit
I was counting on Bruce Almighty to answer my yahoo prayers ...
Inserted Video
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #22,103
  • Jul 18, 2013 8:58pm Jul 18, 2013 8:58pm
Quoting mike1349
{quote} I'll give it a try.Now I am looking at H1 and H4 only.
what exactly do you look for in H1 and H4?
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #22,104
  • Jul 18, 2013 9:06pm Jul 18, 2013 9:06pm
Quoting emmanuel7788
{quote} what exactly do you look for in H1 and H4?

I loaded up TMS-Ocs to get the alert when TDI crosses.I put it in 5-6 pairs and when it happens I analyze it with other stuff like S/R to see if I would go in or not.

Then I watch the result later.Right now everything works perfect but as soon as I come to live then everything would be messed up.
Failure, is a wonderful teacher!
  • #22,105
  • Jul 18, 2013 9:16pm Jul 18, 2013 9:16pm
Quoting emmanuel7788
{quote} I was counting on Bruce Almighty to answer my yahoo prayers ... https://www.youtube.com/watch?v=n0cG11lTS1E

I pray like this guy.........All religious

Inserted Video
Failure, is a wonderful teacher!
  • #22,106
  • Jul 18, 2013 9:20pm Jul 18, 2013 9:20pm
Trade Management

Using yesterday's EJ trade example, we compare two different setting for the Jumping Stop Loss

1) we used a abitrary 20pips

2) we use a ATR H4 which is between 45 and 55pips. Use lower figure 45pips.

and we use MPTM as the trade manager.

you can see the illustration in the two charts below...

what do you learn from these?

you want to trade TMS successfully, you must particiapte and answer this questions and validate your answers in back-testing.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EJ 18 Jul POMO JSL 19-7-2013 9-08-24 AM.png Size: 60 KB
Click to Enlarge Name: EJ 18 Jul POMO2 H4 JSL 19-7-2013 10-07-15 AM.png Size: 54 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #22,107
  • Jul 18, 2013 9:21pm Jul 18, 2013 9:21pm
Quoting mike1349
{quote} I pray like this guy.........All religious http://www.youtube.com/watch?annotat...&v=pDWR5RkWRTY

that character in movie reminds me of the two things : Greed and Fear.... doom
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #22,108
  • Jul 18, 2013 9:24pm Jul 18, 2013 9:24pm
Quoting mike1349
{quote} I loaded up TMS-Ocs to get the alert when TDI crosses.I put it in 5-6 pairs and when it happens I analyze it with other stuff like S/R to see if I would go in or not. Then I watch the result later.Right now everything works perfect but as soon as I come to live then everything would be messed up.

like many traders who fall in the statistics 95% ... one of many causes is the process they got wrong.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #22,109
  • Jul 18, 2013 9:25pm Jul 18, 2013 9:25pm
Quoting emmanuel7788
Trade Management Using yesterday's EJ trade example, we compare two different setting for the Jumping Stop Loss 1) we used a abitrary 20pips 2) we use a ATR H4 which is between 45 and 55pips. Use lower figure 45pips. and we use MPTM as the trade manager. you can see the illustration in the two charts below... what do you learn from these? you want to trade TMS successfully, you must particiapte and answer this questions and validate your answers in back-testing. {image} {image}

I think in trending market we get a retrace when the price hits a supply level(Res). Am I right?

I still don't know how to figure out ATR H4

Good night for now.Going to bed.
Failure, is a wonderful teacher!
  • #22,110
  • Jul 18, 2013 9:26pm Jul 18, 2013 9:26pm
Quoting emmanuel7788
{quote} like many traders who fall in the statistics 95% ... one of many causes is the process they got wrong.

I don't get you....What do you mean?
Failure, is a wonderful teacher!
  • #22,111
  • Jul 18, 2013 9:27pm Jul 18, 2013 9:27pm
Quoting emmanuel7788
{quote} that character in movie reminds me of the two things : Greed and Fear.... doom

Failure, is a wonderful teacher!
  • #22,112
  • Jul 18, 2013 9:29pm Jul 18, 2013 9:29pm
Quoting Mohendran
Hi, Just a little clarification, I noticed that the TDI indicator uses MA 5,2. Do I have to change it to EMA 5,2 ?
place both MAs on your charts and do back-testing using data going back to Jan 2013.. Manual back-testing by scrolling back your charts will do.

observe and learn to see how difference that two MAs had made in history.

do you trade H1 or H4 ? or both?
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #22,113
  • Jul 18, 2013 9:37pm Jul 18, 2013 9:37pm
Quoting mike1349
{quote} I think in trending market we get a retrace when the price hits a supply level(Res). Am I right? I still don't know how to figure out ATR H4 Good night for now.Going to bed.
1) TIMING - always be mindful when market session open and close. When London open, 2 hour later Tokyo close. What do Tokyo traders do? most will exit, right? what happen when traders exits their trades? next thing is liquidity flows between markets - stock, futures,, options, forex,...

2) ATR - this had been discussed before on how to find the ATR.
very simple - use the MT4 standard ATR provided.
open a blank chart set to H4 TF,
drop the ATR in a new sub-window on your chart. Set the period to 20 period,
next drop a second ATR in the same sub-window. set the period to 100 period.
compare the two and read the values at the point when your trade entry is made.
what do you see?
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #22,114
  • Jul 18, 2013 9:44pm Jul 18, 2013 9:44pm
Quoting mike1349
{quote} I don't get you....What do you mean?
what I mean is most 95% traders failed because they do not have a process in their trading.

for example,

we first identify the S&R on our charts before we start looking for trade setups...

with known S&R on our charts, we observe price behaviour around the S&R ....

then when we see PA and TMS conditons as what detailed in our trading plan for the week/day,

our next task is to execute our actions as according to what we written in our trading plan
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #22,115
  • Jul 18, 2013 9:44pm Jul 18, 2013 9:44pm
Quoting Direwolf
{quote} The EJ, what stopped you from entering 1 candle earlier? That one also pass previous candle high?
That candle was an outside bar with wicks on both ends....no clear direction. I did break above the previous red candle but it also broke below the low of that same red candle. Which direction would you have traded....the break above or the break below? The TDI green was flat and on top of the red. On the entry candle, TDI gave a direction at the open of that candle and the break above confirmed entry. The previous candle also bounced off last weeks high adding credence to a long trade.
  • #22,116
  • Jul 18, 2013 9:57pm Jul 18, 2013 9:57pm
Proficiency in using MT4 trading platform:

I read many posts and I conclude that some members here are proficient in the use of MT4 platform and knows how to use many of its features and tools. This group learn faster and have more confidence as shown in their posts.

But, I also read that many new traders do not know MT4 well enough and this combine with the desire to learn how to trade make your life more difficult than it should be. For those of you who fall into this category, it is a struggle and will still be a struggle going forward. Sadly, there is no short here. You have to find the time and learn the trading platform be that MT4 or any other platform your broker offers.
Knowing one trading platform is important because you need to have good charting skills. MT4 is still easy to learn and to use. Does not matter if you do not trade live using MT4. Just use that for all charting work with the tools available. You can still place your live trades in other brokers platform.

Good charting skills is important and necessary, it will help you in your trading.

regards,
EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #22,117
  • Jul 18, 2013 9:58pm Jul 18, 2013 9:58pm
Quoting Armin2Forex
Hi Phx62 Can you expand on the back testing especially the procedure, thanks sounds very interesting One pair at a time is a good idea too
The easiest way to back-test is, over the weekend roll your charts back 3 or 4 months and then move them forward one candle at a time by pushing F12 on your computer. Each time you do this, analyze what you see and determine if there is a setup developing for a trade. From there, mark an entry on your chart along with a SL and "trade" it until you hit TP or get stopped out....then decide what you did right and what you did wrong and write that down....the push F12 again and move to another potential trade.
There is also a strategy tester built in to the MT4 platform but you will have to research how to use it and there are some EA's out there that you can speed up or slow down the process but it has been a while since I used one of those.
  • #22,118
  • Jul 18, 2013 10:01pm Jul 18, 2013 10:01pm
Quoting Phx62
{quote} That candle was an outside bar with wicks on both ends....no clear direction. I did break above the previous red candle but it also broke below the low of that same red candle. Which direction would you have traded....the break above or the break below? The TDI green was flat and on top of the red. On the entry candle, TDI gave a direction at the open of that candle and the break above confirmed entry. The previous candle also bounced off last weeks high adding credence to a long trade.

... super stuff.

trading is an art as I was told long time ago.
this confirms that.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #22,119
  • Jul 18, 2013 11:19pm Jul 18, 2013 11:19pm
Quoting emmanuel7788
{quote} dont base this trade on TDI cross. is the price action convincing ? London closing in less than 2 hours...
Hi Emmanuel,

May I know when is the time we need to enter trade base on TDI cross and when is not?

It is confusing me sometimes.

Regards,
Prominent88
  • #22,120
  • Jul 18, 2013 11:51pm Jul 18, 2013 11:51pm
Quoting Prominent88
{quote} Hi Emmanuel, May I know when is the time we need to enter trade base on TDI cross and when is not? It is confusing me sometimes. Regards, Prominent88
your question is rather vague.
if you are referring to my post reply to that particular trade, then the answer was there.

but if you are asking a gereral question,
which TF do you trade TMS? H1 or H4?
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
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