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Trading Made Simple

  • #26,061
  • Oct 9, 2013 10:10am Oct 9, 2013 10:10am
AUDusd / NZDUSD thanks phx62
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  • #26,062
  • Oct 9, 2013 10:12am Oct 9, 2013 10:12am
Today's trade on GU.

This morning I saw that price failed to break yesterday H. and formed a double top on H1. On H4 TDI crossed so I drilled down to H1 to seek for an short. Just before LO price broke a support formed by three H1 candles. I entered. 50% closed on +59 pips, 0,25 % closed on +71 pips. 0.25 % is still running up +109 pips now. Target for this last part is just above round number 1.5900.
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  • #26,063
  • Oct 9, 2013 10:27am Oct 9, 2013 10:27am
Quoting baokydev
Potential GJ Long {image} H1/H4 both show green cross red. Open at Candle #1 Oversold zone - 32 SL at below swing low +5 pips
Position close for +10 Pips.

Reason: FOMC minutes release soon, staying out of news.
Trading is something special.
  • #26,064
  • Oct 9, 2013 10:38am Oct 9, 2013 10:38am
Quoting baokydev
{quote} Position close for +10 Pips. Reason: FOMC minutes release soon, staying out of news.

good idea... hopefully we get some movement soon
.... laughing all the way to the bank
  • #26,065
  • Oct 9, 2013 10:45am Oct 9, 2013 10:45am
let see with FOMC
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  • #26,066
  • Oct 9, 2013 11:19am Oct 9, 2013 11:19am
Good evening all

Yesterday I took USD/JPY, got stopped out -15 pips.

TDI 1H bounced from the red line, TDI H4 was touching the red line, stoch confirmed direction, D1,W1 and MN were all down, trade was in the trend line. There were no news scheduled.

Any ideas why this trade ended in loss?

Thank you in advance for your ansvers and I wish all green pips.
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  • #26,067
  • Oct 9, 2013 11:37am Oct 9, 2013 11:37am
Quoting Riconico
Good evening all Yesterday I took USD/JPY, got stopped out -15 pips. TDI 1H bounced from the red line, TDI H4 was touching the red line, stoch confirmed direction, D1,W1 and MN were all down, trade was in the trend line. There were no news scheduled. Any ideas why this trade ended in loss? Thank you in advance for your ansvers and I wish all green pips. {image}
Hi Riconico

In trading we never know exactly why we lost. Its a numbers game and our role is just to trade the setups according to our plan and wait for the probabilities to play in our favour. Now, going more specifically to this trade setup there are 2 items that i would like you to consider:

1 - When you entered short, we were already very far from the previous swing high (around 40 pips) which wouldn't give us a good RR. Trading TDI is also trading momentum, but, being almost 23h Europe time, this is the period with least volatility so, you run the risk of having signals that dont play out due to lack of momentum.

2- UJ is at the moment in a very confused place... look at the amount of lines that are touching yesterdays price action. Price is completely trapped in this mess.....
When this is the case either we stay out of the market or we trade small timeframes with lower targets and stops.
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you shouldn't be worried with this loss.
You should only consider a "loss" when you don't follow your trading plan.If you followed your plan, this is just one more loser making space for the coming winners!

all the best

Munir
  • #26,068
  • Oct 9, 2013 11:52am Oct 9, 2013 11:52am
Lets see if this plays out....

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  • #26,069
  • Oct 9, 2013 11:54am Oct 9, 2013 11:54am
two high low candles ? look like it going up to me.
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  • #26,070
  • Edited 12:31pm Oct 9, 2013 12:20pm | Edited 12:31pm
Quoting Imi
{quote} Hey Snarly, nice trade, nice profit too, so how did you manage $220 on 5 microlot for 22 pips? just asking...
Perhaps he has a couple of accounts and uses multitrader, a lot of people do.
  • #26,071
  • Oct 9, 2013 2:16pm Oct 9, 2013 2:16pm
Quoting lastingwell
{quote} Perhaps he has a couple of accounts and uses multitrader, a lot of people do.
perhaps.... trading microlots on one , and full standard lots on the other...odd.. but everything is but possible.
Lot size is not even important, it's showing one thing and talk about an other that put me off.
Talk about money and lifestyle sounds like luring new people to the thread and trading forex. imo

hey, steak and eggs at McDonals.. no big deal
If you're going through hell, keep going. Winston Churchill
  • #26,072
  • Oct 9, 2013 2:54pm Oct 9, 2013 2:54pm
Quoting Bizzzle
Trade this morning! If we break the white line we could see a nice push lower... {image}
Update on my GJ trade, looks like support could become resistant.
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Give yourself a chance and trade it like it's layed out...
  • #26,073
  • Oct 9, 2013 2:54pm Oct 9, 2013 2:54pm
Quoting vtayha
{quote} Hi Erol, The price vs RSI relationship is something we developed and use to the define the market type and to trade the short term weekly swing using 4 hour periods. Just spoken to Emmanuel over breakfast and he will contact you privately. Cheers!
Thanks for this Vtayha! Really appreciate this.

Erol
  • #26,074
  • Oct 9, 2013 3:57pm Oct 9, 2013 3:57pm
Imi & Everyone,

perhaps.... trading microlots on one , and full standard lots on the other...odd.. but everything is but possible.
Lot size is not even important, it's showing one thing and talk about an other that put me off.
Talk about money and lifestyle sounds like luring new people to the thread and trading forex. imo

hey, steak and eggs at McDonals.. no big deal

I'am sorry everyone and I apologize!

I do trade multiple accounts and different lot sizes. I showed you the wrong chart.
I will try to clean up my act and be very professional and not talk about money, only pips.
And no steak or eggs, sorry about that. I was just trying to show you the system
and a trade I made.

If I offended anyone I apologize...

Please accept my apologies for any miscommunication on my part. Thankyou...

snarlyjack
  • #26,075
  • Oct 9, 2013 4:07pm Oct 9, 2013 4:07pm
Quoting vtayha
EJ H1 trade, now protected at 131.70. Watching if it will break lower to 131.25. TP likely Prev D Low.

Well, market did hit 131.25 and rebounded. My MPTM manage my trades while I slept through FOMC and now seeing a new positive wave.
A lot of RN play these days around the 00,25,50,75 levels with increase tick volume activity. So better watch those wide range bars.
  • #26,076
  • Oct 9, 2013 4:12pm Oct 9, 2013 4:12pm
One trade taken today on GBP/JPY 1hr timeframe. +50 pips.

My reasons for entry were:

1. The Yen had reached a critical demand level, so demand (buyers) overwhelmed supply (sellers).

2. The TDI had crossed up in a nice smooth direction 2 o' clock position.

3. TP hit before the next supply area was reached I calculated about 50 pips or so potential profit.

Took a few hours to finally reach my TP, but was a successful trade. I'll post some more as they come along.

Yes, this is a real live account i'm trading. I don't believe in demo trading.
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  • #26,077
  • Oct 9, 2013 4:14pm Oct 9, 2013 4:14pm
EU and GU view for today' trading.
It will be intraday on H1 only.

GU D looks very bearish but the Primary trend is till Up seen on weekly. No reversal yet but the range is good for shorter trades.

EU both D and W still bullish but H4 is showing bearish sign. So I trade both ways in H1 for intraday.

It is the market for smart money so we trade with extra caution with our stops in well place levels.
  • #26,078
  • Oct 9, 2013 4:41pm Oct 9, 2013 4:41pm
Quoting snarlyjack
Imi & Everyone, perhaps.... trading microlots on one , and full standard lots on the other...odd.. but everything is but possible. Lot size is not even important, it's showing one thing and talk about an other that put me off. Talk about money and lifestyle sounds like luring new people to the thread and trading forex. imo hey, steak and eggs at McDonals.. no big deal I'am sorry everyone and I apologize! I do trade multiple accounts and different lot sizes. I showed you the wrong chart. I will try to clean up my act and be very professional and...
Snarlyjack,

On the flip-side I wasn't offended by this. It is nice to hear your stories of success with TMS. It is better you have been here on this thread since its inception and are one of the closest links we have to Ellfranz who made this thread possible. Your stories of success are inspiring to read especially the picture of you reaping the rewards of your dedication to your system (you and your Harley). It gives the newer guys the confidence and an extra nudge in the benefits of this system regarding its application to a system that works for the individual trader looking to refine TMS to their own style. There is enough confusion on this thread being posted during the week anyway and it is turning into an art form on here to be able to spot the good input from the not so good input....and your posts are looked at in great detail (by myself anyway) and i'm sure I'm not the only one.

It's no big deal to me you posted the wrong charts...people make mistakes...it's only natural :-) Instead - Can you maybe elaborate on how you use multiple accounts and different lot sizes for the guys in here that maybe interested in hearing about this. BTW, I didn't no they have steak and eggs in McDonald's...maybe its just because no one would go near a steak in Mc Donald's in Ireland, we have butchers for that sort of thing :-)

Thanks

Erol
  • #26,079
  • Edited 5:35pm Oct 9, 2013 5:20pm | Edited 5:35pm
Quoting Erol
{quote} Snarlyjack, On the flip-side I wasn't offended by this. It is nice to hear your stories of success with TMS. It is better you have been here on this thread since its inception and are one of the closest links we have to Ellfranz who made this thread possible. Your stories of success are inspiring to read especially the picture of you reaping the rewards of your dedication to your system (you and your Harley). It gives the newer guys the confidence and an extra nudge in the benefits of this system regarding its application to a system that...

Hi Erol,

I am sure snarlyjack will explain his use of multiple accounts for his trading.

But let me share with you something here.
I also have 3 different accounts for different timeframe trading.

I use different account for swing and position trading, and another for intraday. The reason is I can be long in some long term positions and I can trade short intraday for the same currency pair. Some brokers do not allow this and particularly for those living in the USA.
But my reason is that I use different risk model for different timeframe based strategy trading and also I want to see clean accounting and analysis for different timeframe based strategies.
Moreover those who uses MT4 will understand this when they use EA to do the trade size calculation based on account balance and it will be complicated when we trade the different strategy in the same MT4 account.
The other consideration is when traders uses hedging or recovery trades in their business hence having different account can work out better. It is a matter how one manages his account margin balance and keeping it healthy for his trades.

I know many experienced traders do not use percentage risk and position sizing. Eelfranz being one, he trades standard lots and his stop loss is 100pips and more. But he manages to move his stops seeing price action and the TDI. He did not calculate his trade position size using 100pips, he simply trade multiple standard lots at one time because he know how good and consistent his entries are and his high win rate. This is one of those "secrets" of successful traders. Forex coaches and trainers do not recommend this because there is industry norm on good money management which investors and traders must first learn to adopt.

There are other factors to consider too. Like spread, I use one broker with very small spread and no delay trade execution but I pay commission.

Hope this help.
  • #26,080
  • Oct 9, 2013 5:51pm Oct 9, 2013 5:51pm
Quoting snarlyjack
Imi & Everyone, perhaps.... trading microlots on one , and full standard lots on the other...odd.. but everything is but possible. Lot size is not even important, it's showing one thing and talk about an other that put me off. Talk about money and lifestyle sounds like luring new people to the thread and trading forex. imo hey, steak and eggs at McDonals.. no big deal I'am sorry everyone and I apologize! I do trade multiple accounts and different lot sizes. I showed you the wrong chart. I will try to clean up my act and be very professional and...

No worries. No offense taken.

I see charts posted, all I want to see are the entries and exits on the charts and what is more important to me is the thinking process of trader and how they execute their trades and in making trade decisions.
The money management, trade size, etc. are personal to the trader. I am the R-Multiple type of trader and am more interested in the overall numbers of R's at the end of one business cycle.
I prefer to see traders post their trades as soon as they have them open and then make updates posting progressively. This is how Emmanuel7788 had been doing here. This is more educational in realtime mode and more effective in showing live market trading. Big E always encourages people here to think and to participate but I find this very lacking these days.

Good to see you spend time and sharing here again after quite long time.

Cheers!
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