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Trading Made Simple

  • #25,161
  • Sep 17, 2013 12:33am Sep 17, 2013 12:33am
Quoting Bangokar
{quote} and how many pips if your profit?
when scalping R:R 1:1 is good but you need high win rates.

But I like to use M15 entry for my intraday trading. Using multi-lot entry and multiple exits.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #25,162
  • Sep 17, 2013 12:44am Sep 17, 2013 12:44am
Quoting tx_sandman
When you say long term, are you talking daily? Looks to me like there are some rather nice super-long term longs setting up in EURAUD and USDCAD in that timeframe.

My 4H swing trading can last anything from 2 to 4 days during the week.

Position trading may last from two weeks to several weeks.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #25,163
  • Sep 17, 2013 12:50am Sep 17, 2013 12:50am
Quoting gsbharaj
hi everyone how are you this morning. ok, i have a question in mind. BTw i made 20 pips on eur/usd. now why the action has dried out? according to TMS we can enter the second candle. now if i even tried to do that i could have lost. i just wanted to know

First, you are fishing in the wrong tide,
Second, you are fishing in the wrong places.
There are Six coloured Thinking Hats and I read your posts, and most did not make any sense to me.
You must wear only one hat at a time and do the thinking according to the colour.
It is either you wear all Six Hats all at the same time or you did not wear any at all.

This sounds harsh. But it is the hard truth based on my reading of your posts.
Attached Image
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #25,164
  • Sep 17, 2013 12:54am Sep 17, 2013 12:54am
Quoting emmanuel7788
{quote} First, you are fishing in the wrong tide, Second, you are fishing in the wrong places. There are Six coloured Thinking Hats and I read your posts, and most did not make any sense to me. You must wear only one hat at a time and do the thinking according to the colour. It is either you wear all Six Hats all at the same time or you did not wear any at all. This sounds harsh. But it is the hard truth based on my reading of your posts. {image}
can you please explain why it was a wrong trade?
Come tomorrow, I'll wake up new
  • #25,165
  • Edited 1:17am Sep 17, 2013 1:03am | Edited 1:17am
Quoting gsbharaj
{quote} can you please explain why it was a wrong trade?

what wrong trade?
I don't see any chart being posted.
This is not a live trading room.
If you want to be in my trading room,
first, you need to be a thinking type of person because trading requires us to have a thinking process,
then you need to demonstrate that you can trade using TMS as the core technical method,
TMS is not a mechanical trading system.
It requires discretion by the trader.
And that requires us to develop TMS as a Discretionary Rules-based System and to make that our own Winning Trading System that will fit us individually.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #25,166
  • Sep 17, 2013 1:08am Sep 17, 2013 1:08am
Oh, please explain why it is a wrong trade. By the way I appreciate the attached image
  • #25,167
  • Sep 17, 2013 1:23am Sep 17, 2013 1:23am
Here is what I mean by a M15 Scalping entry:
I follow the H4 candle high low all the time.
Here we see a previous H4 Inside Bar and the breakout candle by TOK 4-h period, then a Fib retracement ..., bounce off EMAs 50/200, RN 00,25,50,75....

the rest you can read off the chart below.
Attached Image (click to enlarge)
Click to Enlarge Name: EJ 17 Sep M15 scalping entry 17-9-2013 4-06-20 PM.png Size: 36 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #25,168
  • Sep 17, 2013 1:31am Sep 17, 2013 1:31am
Quoting emmanuel7788
{quote} what wrong trade? I don't see any chart being posted. This is not a live trading room. If you want to be in my trading room, first, you need to be a thinking type of person because trading requires us to have a thinking process, then you need to demonstrate that you can trade using TMS as the core technical method, TMS is not a mechanical trading system. It requires discretion by the trader. And that requires us to develop TMS as a Discretionary Rules-based System and to make that our own Winning Trading System that will fit us individually....
people dont understand that tdi itself wont make money for them. you have to combine indicator with many other teqnique because market is changing
  • #25,169
  • Sep 17, 2013 1:48am Sep 17, 2013 1:48am
Ergo foget TDI and just watch the market LOL.
  • #25,170
  • Sep 17, 2013 1:59am Sep 17, 2013 1:59am
I love to watch Tsujiki Market too during the Tuna auction.

The only indicator they use is the Price.
Attached Image (click to enlarge)
Click to Enlarge Name: fish market.png Size: 2.0 MB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #25,171
  • Sep 17, 2013 2:06am Sep 17, 2013 2:06am
Now LO+2 hours, we are witnessing the breakout of the H4 Master Candle....

Attached Image (click to enlarge)
Click to Enlarge Name: EJ week 38 17 Sep MC Breakout 17-9-2013 5-01-40 PM.png Size: 30 KB


Will that also give us the Day Inside Bar breakout....? we shall see how PA will tell us.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #25,172
  • Sep 17, 2013 2:20am Sep 17, 2013 2:20am
  • #25,173
  • Sep 17, 2013 2:51am Sep 17, 2013 2:51am
Quoting emmanuel7788
I love to watch Tsujiki Market too during the Tuna auction. The only indicator they use is the Price. {image}
and the smell!
  • #25,174
  • Sep 17, 2013 3:55am Sep 17, 2013 3:55am
Quoting kwonkicker
{quote} if i may, scorp, i stumbled upon this article, which is in a way an answer to another article, both debating who to manage trades. basicly "should we take fixed percentage risks, or fixed amount risks" http://t.co/bubGMMnS6P
Thanks a lot, very good article, I think the author is more into fixed ratios percentage , which I will follow as a starting point

Emmanuel, thanks for recommendation, I will look Dr. Van books
I Have Learned to Take Some Losses to Make Profits
  • #25,175
  • Sep 17, 2013 4:06am Sep 17, 2013 4:06am
Quoting TheScorpS
Emmanuel, Can you recommend a source about Money Management, I think its time to understand this concept, have not got into MM so far because I was still developing many habits in trading , now I think its time to indulge my self into MM, so can you recommend a book , a site or whatever reading there to help Thank You
Hi ScorpS

this is one of the best videos I have for money management :
Inserted Video


hope you enjoy and learn from it
  • #25,176
  • Sep 17, 2013 5:10am Sep 17, 2013 5:10am
Quoting emmanuel7788
Week 38: This week I am stalking the Euro vs the commodity currencies AUD, NZD and CAD for long term positions. Join me if you want trade EURAUD, EURNZD and EURCAD. Post your charts, we can discuss and share our thoughts behind the technical moves.
Hi Emmanuel

Im also looking at EUR/CAD and EUR/AUD. Here is a summary on my view:

EUR/AUD
- In the Weekly we had a Piercing Pattern followed by a Shooting star after a significant rally at a round Number of 1.50 and former Ressistance. This looks like a confluence area

My Plan is to short at the former Support of 1.4450-1.4480 if bearish Candlesticks appear near this area. If price shoots trough this ressitance i will wait to see if uptrend continues. If Price breaks below the Doij without testing former Support of 1.4450 this is also a Short opportunity but my favorite is short in the 1.4450 - 1.4480 area.

Attached Image (click to enlarge)
Click to Enlarge Name: fxcm metatrader 4.png Size: 180 KB
  • #25,177
  • Sep 17, 2013 5:46am Sep 17, 2013 5:46am
Quoting emmanuel7788
Week 38: This week I am stalking the Euro vs the commodity currencies AUD, NZD and CAD for long term positions. Join me if you want trade EURAUD, EURNZD and EURCAD. Post your charts, we can discuss and share our thoughts behind the technical moves.

Hi Emmanuel

Here my thoughts on the EUR/CAD

- Weekly uptrend since July 2012. Price made a powerfull retracement at the former Resistance around 1.41. The blue candle reaching the 1.41 and the following 2 red candles form a Shooting star if you look at the them as one.

- The Pair is supportet at the area around 1.3650 and there is also an uprising trendline which is in Place since July 2012 that can act as support. Therefore we have some support confluence below current PriceAction

- On the other hand there could be forming a H&S Formation in the Daily chart. I will put in a short order if i see a right shoulder forming and there will be bearish candlesticks at the top of the right shoulder. I would close it when Price reaches Support area described above. If bullish Patterns are forming i would go long there. If Price breaks trendline i would go short at the retracement on the back of the trendline

- If Price goes up and trades above left shoulder a long position could be possible and a continuation of the uptrend

Attached Image (click to enlarge)
Click to Enlarge Name: EURCAD.png Size: 193 KB
  • #25,178
  • Sep 17, 2013 5:59am Sep 17, 2013 5:59am
Quoting munirpt
{quote} Hi ScorpS this is one of the best videos I have for money management : http://youtu.be/4uItNovNvIM hope you enjoy and learn from it
Wow in time Munir, thanks a lot, this is what I need at the moment, learning about MM

Am almost somewhere where my calls in terms of PA and TMS spot on , still a lot to go but now its time for MM

Thanks for the help
I Have Learned to Take Some Losses to Make Profits
  • #25,179
  • Sep 17, 2013 7:59am Sep 17, 2013 7:59am
One of my longest trades ever in 1H charts.... 40 H in a trade....Ufff
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 104 KB
Click to Enlarge Name: Screenshot2.png Size: 108 KB
  • #25,180
  • Sep 17, 2013 8:42am Sep 17, 2013 8:42am
usd / jpy sold
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpy-proh1.png Size: 51 KB
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