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Trading Made Simple

  • #22,321
  • Jul 23, 2013 12:54pm Jul 23, 2013 12:54pm
Quoting evilmechy
{quote} I'm still in it actually. Currently at 43 pips. I haven't exited because there hasn't been a clear break back into the 5EMA high and low. I will probably close it soon though. Won't be letting it run when I go to bed.
To close it as soon as possible is the wise thing to do, because I cannot see any possibility for it going any higher that it has before retracing.
  • #22,322
  • Jul 23, 2013 1:02pm Jul 23, 2013 1:02pm
Quoting evilmechy
{quote} Sorry, I didn't place a line on the bar. Here's another screenshot with the line indicating the bar. {image}
Closed at +40 pips

Quoting dalytec
{quote} To close it as soon as possible is the wise thing to do, because I cannot see any possibility for it going any higher that it has before retracing.
Yep, just did that. Was taking a look at the 15 minute and it'll probably start retracing a little before moving further up. But I'll just try to catch another good one tomorrow. And I'd be asleep by then haha. A good day.
  • #22,323
  • Jul 23, 2013 2:13pm Jul 23, 2013 2:13pm
this is my first trade using this system . am in profits for 20pips.
1. is it proper to add to postion when the TDI green line crosses 50?
2. when is the best time to close this trade?
3. who is seeing what am seeing?
4. thanks for your contribution BigE
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpyh1july23.png Size: 42 KB
i am the lord that giveth thee power to create wealth.
  • #22,324
  • Jul 23, 2013 2:43pm Jul 23, 2013 2:43pm
Those of you who took my advise must be too happy by now with 60pips just today. eurousd closed and the usdjyp closed at Going to bed now.
Be the dragon master...
  • #22,325
  • Jul 23, 2013 3:24pm Jul 23, 2013 3:24pm
Quoting emmanuel7788
I use MPTM multi-purpose trade manager by Steve Hopwood. Posted here last week with EJ trade example. there are several trade manager EAs with features to move stop loss. it is s basic feature of EAs to move stops. winning systems is about entries and exits. enetry trade entry requires minum two exits: first exist is your initial stop loss second exit is your final target profit or take profit. in trend trading, between your first and second exits, are many other entries and exits. how is this possible? regards, EMMANUEL
Trying to reproduce your back tests. The EA has these parameters:

Quote
For TDI cross entry with fixed SL & TP set:
Order.Mode=0, SL=30, TP=40.
For TDI cross entry and exit with protective SL & TP set:
Order.Mode=1, SL=30, TP=40.
For TDI cross entry and exit only set:
Order.Mode=1, SL=0, TP=0.

I don't understand the difference between a "fixed" and a "protective" SL & TP and how to set these to get your 100 TP, 100 SL, +30 BE results.
  • #22,326
  • Jul 23, 2013 3:34pm Jul 23, 2013 3:34pm
hi all, im new here and trading in general. My question is, does this system work for wall st30 or us500.

Thanks in advance
  • #22,327
  • Jul 23, 2013 3:42pm Jul 23, 2013 3:42pm
Hello everyone !

Just deleted a bunch of useless indicators and lines off my charts.

And here are my 4 trades for today. Missed LO due to work issues ( GMT +2 is my zone ) , traded US session :

1. Usd/CHF
http://www.mql5.com/en/charts/554733...-international
Chose this pair instead of E/u cause i didn't feel like buying into the 1,32 line and i missed my entry there.
Entered short after H1 candles failed to close over the 94 level, TDI cross down and 1st red HA candle.

+25 pips
2. Aud/usd
http://www.mql5.com/en/charts/554740...-international
Actually entered on the m15 cross, after the pair failed to establish a lower low. TDI cross h1 confirmed. Set my TP just beneath a fib line.
The pair did move beyond that fib line, but i was happy with my :

+30 pips

3. Nzd/usd
http://www.mql5.com/en/charts/554745...-international
Bad trade in my opinion
It almost hit my 20 pip sl, 2 pips difference there. I enter on m15 , hoping to get the most out of the move, and PA continued lower for 2 more hours. TP eventually hit, just before the big round 80 number

+20 pips

4. Eur/jpy
http://www.mql5.com/en/charts/554749...-international
Went for the trade with a SL placed above the 132 line, and a triple top. Very easy trade actually.
+30 pips

That's 30 + 30 + 20 + 25 = 105 pips for me, done for the day.

I would very much appreciate your thoughts and comments. I have some things i would like to add:

1. The market this week has low ADR. I set TP's low to be sure they will be hit if my entry was ok. I didn't feel like chasing big moves, since i saw none so far this week, and the week before has been pretty much the same.

2. Loving the A/U more and more these days, it's much more reliable and with less wicks than many other pairs. And moves a lot, too.

3. I feel very good after this day. Love TMS, and big thanks to Big E ( may he rest in peace ) , emmanuel , Phx62, and all the people that contribute to this great thread. Starting August 1st, i'm taking this system into pro trading , since my broker named me project manager for one of their new projects.

Have a good day/night/evening ( 23:41 here in Romania ) , and i'm waiting for your feedback !
  • #22,328
  • Jul 23, 2013 4:06pm Jul 23, 2013 4:06pm
Quoting emmanuel7788
{quote} you need to know your pip and fractional pip, price in points. about ATR, study here.
Thanks.Actually I got my answer in one of comments!!
Attached Image (click to enlarge)
Click to Enlarge Name: sample wrong.jpg Size: 17 KB
Failure, is a wonderful teacher!
  • #22,329
  • Jul 23, 2013 6:18pm Jul 23, 2013 6:18pm
Hi All,
took the EJ buy last night (my time) got in half way through the FRA session.
don't usually trade this time, prefer waiting for LON.
EJ was bouncing along the 23Fib level without really breaking it.
Had trouble with my platform so my sell 50% at T1 +30 pips did nor activate.
After shutting down and reopening the program, I entered the sell at 35 pips which was hit.
My T2 was set at 60 pips. I wanted to head to bed so I closed the remaing lots at +33 pips.
The 60 pips would have been hit it i stayed in. but very happy with result.
Attached Image (click to enlarge)
Click to Enlarge Name: 20130723 buy eurjpyh1.png Size: 53 KB
  • #22,330
  • Jul 23, 2013 6:59pm Jul 23, 2013 6:59pm
Quoting timlal17
hi all, im new here and trading in general. My question is, does this system work for wall st30 or us500. Thanks in advance
timlal17,

yes,
TMS is a trend trading method., hence applicable to all market instruments. you need to know the market condition. you need to decide the timeframe you want to trade and it works great for EOD trading.

it uses the TDI which is based on RSi ... realative strentgh index of price movements
and combine with the Japanese Heiken Ashi ... average price calculations.

like all trading methodology, it must be traded with certain set of rules for entry and exits following strict discipline.

you need to incorporate your own money management using this technical method

you also need to have the mental fitness to be a trader.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #22,331
  • Jul 23, 2013 7:06pm Jul 23, 2013 7:06pm
Quoting Kendal
{quote} Trying to reproduce your back tests. The EA has these parameters: {quote} I don't understand the difference between a "fixed" and a "protective" SL & TP and how to set these to get your 100 TP, 100 SL, +30 BE results.
Kendal,

simply put:

'fixed SL' is your trade initial stop loss.

once market move above you entry price, you move you stop loss to above you entry price. That stop loss is now call 'protective stop'... which means you already protected some profit as the market price is above you entry level.

when we move our initial stop loss to BE breakeven, usually it is good to add a few pips to the BE breakeven price level. this is your entry price + added pips.

how many added pips? well you must cover your spread and any other costs of that trade.

regards,
EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #22,332
  • Jul 23, 2013 7:18pm Jul 23, 2013 7:18pm
Quoting Vladbold
Hello everyone ! Just deleted a bunch of useless indicators and lines off my charts. And here are my 4 trades for today. Missed LO due to work issues ( GMT +2 is my zone ) , traded US session : 1. Usd/CHF http://www.mql5.com/en/charts/554733...-international Chose this pair instead of E/u cause i didn't feel like buying into the 1,32 line and i missed my entry there. Entered short after H1 candles failed to close over the 94 level, TDI cross down and 1st red HA candle. +25 pips 2. Aud/usd http://www.mql5.com/en/charts/554740...-international...
Vladbold,

You deleted a bunch of useless indciators... thats' great. It is what I see as progress.

Point 1) ADR is important. We must know when market volatility changes and we set our expcetations accordingly. Watch both Daily and Weeekly average traded range.

Point 2) on AU ... spot on. . Aussie rallied but when consolidation, we look for breakout again or it may reverse which looks likely.

Point 3) I too did a 3 months project for one broker which completed end- last month. Man you will learn plenty what goes on with data feed and how to use their trading platform and trading tools more efficiently.

Have fun and enjoy your project.

regards,
EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #22,333
  • Jul 23, 2013 7:21pm Jul 23, 2013 7:21pm
Quoting mike1349
{quote} Thanks.Actually I got my answer in one of comments!! {image}
when I started trading forex, there was 2 and 4 decimal places in the prices,
then came 3 and 5 decimal places,
now we see 4 and 6 decimal places, ...
will there be more to come?
yes I am sure.

we are living in a world evolving into nano technology ....
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #22,334
  • Jul 23, 2013 7:37pm Jul 23, 2013 7:37pm
Quoting emmanuel7788
{quote} EU is in buy mode since Monday open.... so no CT trade until I see a higher TF reversal. Today' NYO intraday H1 trade entry ... Price Action and TDI .... {image} {image}
Here is my trade update for EU. Comments on chart posted.

Learn to trade, those are the skills you need for long term trading success and be independent traders. Do not rely on trade signal providers because trading is a skill based profession. Once you develop those skills, nobody can take them away from you. You can impart your skills down to the next generations.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EU week 30 3in1 22-7-2013 8-22-42 AM.png Size: 113 KB
Click to Enlarge Name: EU 23 Jul NYO trade 23-7-2013 10-55-10 PM.png Size: 49 KB
Click to Enlarge Name: EU 23 Jul NYO trade update PS1 24-7-2013 8-25-48 AM.png Size: 53 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #22,335
  • Jul 23, 2013 8:14pm Jul 23, 2013 8:14pm
Quoting fx light
this is my first trade using this system . am in profits for 20pips. 1. is it proper to add to postion when the TDI green line crosses 50? 2. when is the best time to close this trade? 3. who is seeing what am seeing? 4. thanks for your contribution BigE {image}

Hi fx light,

1) The PA seen with the use of 5EMA (close,shift+3) is good way to see the trend with the TDI as confirmation. When market volatility increases, it is good to ride the trend hence it is good to ride the trend by adding positions but only with banked-in profits. This is to keep the initial risk R of this trade the same when it started. TDI PL green crossing the MBL yellow is a good method to add postin with PA as the support reason to add postions. This works well in lower TF trading like H1 and below. Also when the TDI TSL crosses the MBL is also another method to add positions as seen in many low TF M15/M5 scalping trades.

2) When is the best time to close trades? well there is no correct answer to this. Follow your trade plan for entry and exits TPs. When we have trades in profit, we have the same fear factor and tend top close out early and then the trend runs away. However, if you start with H1 trade and market starts into strong trending, you can consider to convert that trade to a 4H swing trade with profit protected and then you manage that as 4H swing trade.
I find using the R-Multiple trade exit management is effective over a long time trading.

3) I see the same chart as yours. GJ is in consolidation, so expect price swings up and down until the next breakout move.

I am sure Big E also sees the same from above and he is smiling down on us as we stick to his trading methodology with clean charts.... no added indicators and slower moving averages for filtering and making trade decision complicated for new traders wanting to learn to trade and to trade TMS here.

regards
EMMANUEL
Attached Image (click to enlarge)
Click to Enlarge Name: GJ consolidation 24-7-2013 9-12-19 AM.png Size: 47 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #22,336
  • Jul 23, 2013 9:11pm Jul 23, 2013 9:11pm
Quoting emmanuel7788
{quote} Hi fx light, 1) The PA seen with the use of 5EMA (close,shift+3) is good way to see the trend with the TDI as confirmation. When market volatility increases, it is good to ride the trend hence it is good to ride the trend by adding positions but only with banked-in profits. This is to keep the initial risk R of this trade the same when it started. TDI PL green crossing the MBL yellow is a good method to add postin with PA as the support reason to add postions. This works well in lower TF trading like H1 and below. Also when the TDI TSL crosses...

thanks for your contribution.
1. how did you get those TP and SL lines?, is there an indicator for that?
2.what is the R-mutiple trade exit management ?
3. thanks for your reply
i am the lord that giveth thee power to create wealth.
  • #22,337
  • Jul 23, 2013 11:59pm Jul 23, 2013 11:59pm
Quoting fx light
{quote} thanks for your contribution. 1. how did you get those TP and SL lines?, is there an indicator for that? 2.what is the R-mutiple trade exit management ? 3. thanks for your reply

fx light,

1) those Buy Sell lines Etry with SL and TPs are drawn on my charts using MT4 scripts. Look for the attachments in this thread.

2) R-Multiple were discussed mnay times in my posts. The most recent one was last week.... post 21,987

watch this video introduction:

Inserted Video



To learn more, read these two books by Dr Van Tharp,

regards,
EMMANUEl
Attached Images
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #22,338
  • Jul 24, 2013 12:05am Jul 24, 2013 12:05am
Are you suitable to be a trader and to trade TMS?

time to take stock before you proceed and make that crucial decision and trade with your hard earned money. Look at yourself and do a self evaluation.

Inserted Video
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #22,339
  • Jul 24, 2013 12:12am Jul 24, 2013 12:12am
EU outlook before Frankfurt open in one hour.

we have a couple fo key data coming out of the Euro Zone today.

right now EU stalled at the CONFLUENCE of S&R we identified since Monday. Historical support and resistance in play right now and the Primary Trend is still intact.
Too early to sell, too late to buy now...
PATIENCE ..... let price action show the way after Tokyo closes today in about 4 hours.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EU week 30 3in1 22-7-2013 8-22-42 AM.png Size: 113 KB
Click to Enlarge Name: EU Week 30 3in1 update 24-7-2013 12-43-16 PM.png Size: 106 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #22,340
  • Jul 24, 2013 12:20am Jul 24, 2013 12:20am
Quoting emmanuel7788
{quote} do it slowly and surely ... trading with big account $100,000 target is 10% every 20 trading days. with lots of practice and aim for 10% per 5 trading days. trade for a living with $100,000.

That's $10 million Jamaican dollars to blouse and skirt!!
With God all things are possible.
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