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Trading Made Simple

  • #26,161
  • Oct 10, 2013 6:59pm Oct 10, 2013 6:59pm
Quoting heispark
{quote} Considering 200 pips movement of yesterday, i may better cut TP reasonably short.... Let see how it plays out.
Until some news about the next USD bonds, I am just playing the RN levels 00,25,50,75. Keeping my eyes on the WRBs hitting these RNs.
For GU and EU, also UChf, Buy USD only when the price is right.
  • #26,162
  • Oct 10, 2013 7:11pm Oct 10, 2013 7:11pm
Quoting adamjhdavis
{quote} Hi Vtayha, I use single entry, I tend to take partial profit at 20pips, move to BE and let the rest run moving my stop loss to the bottom of each APB on the hour. Could you expand on your last two questions please?
When you take profit at +20pips and move stop to Breakeven for remaining positions, you are effectively banking in some profits and make trades risk free with the BE move.
But if you take profit at +20pips, and leave your initial stop loss at its original level which is your initial risk R. This will reduce your overall risk and also preventing your other position from being stopped out at BE. This is one way how investors reduce their risk and remaining in the market trend. The question is when to use this reducing risk management. The answer is we trade the trend and when there is no invalidation of the trend, we remain in the market. So we must have different exit management strategy according to the market condition.
  • #26,163
  • Oct 10, 2013 7:21pm Oct 10, 2013 7:21pm
Vtayha,

Can you explain your R method to me? I really don't know
what it is and it would be interesting to know.

snarlyjack
  • #26,164
  • Oct 10, 2013 7:59pm Oct 10, 2013 7:59pm
Quoting snarlyjack
Pips, I like your analysis. Looking good, it's kinda fun isn't it. A good analyst can draw everything out, look at it and go hmmm. What do I think? Your doing everything correct, keep doing it! snarlyjack
thanks Snarlyjack! It is fun. I try to analyze well and just take the best trades when they come. Works well for me. Appreciate your forum info and feedback.
  • #26,165
  • Oct 10, 2013 10:16pm Oct 10, 2013 10:16pm
audjpy short possible ?
Attached Image (click to enlarge)
Click to Enlarge Name: audjpy.JPG Size: 78 KB
  • #26,166
  • Edited 11:02pm Oct 10, 2013 10:47pm | Edited 11:02pm
Quoting kepo38
audjpy short possible ? {image}

From what we see, a price pullback from 93.25 is happening but no reversal.
Your other sell near 92.42 is in drawdown so unless the pullback is enough for you to have a breakeven for both buy trades, you may have to cut losses before this week/today close.

Where is your breakeven level for both trades?

Edit:

There is another possible level for price pullback at 93.85 and we may see a run up to 95.60 before a reversal. This is log term trading on D chart.
Intraday trading wise, anything can happen with swing up and down.
  • #26,167
  • Oct 10, 2013 10:57pm Oct 10, 2013 10:57pm
Quoting snarlyjack
Vtayha, Can you explain your R method to me? I really don't know what it is and it would be interesting to know. snarlyjack

Hi snarlyjack

R-Multiple was shared by Emmanuel7788 earlier in this thread. Post#23340 has a video where Dr Van Tharp explains that briefly. There are also scripts provided to do this plus several posts made.

Below is my GU trade chart where I show how I manager this GU trade open yesterday and how I managed that trade before an after the US data release. Trade still running with a Jumping SL of 25pips.

Attached Image (click to enlarge)
Click to Enlarge Name: GU H1 Trade Management 10 Oct.png Size: 41 KB


Cheers!
  • #26,168
  • Oct 10, 2013 11:10pm Oct 10, 2013 11:10pm
EU H1 trade 10 Oct update3

Here is my trade update.
Attached Image (click to enlarge)
Click to Enlarge Name: EU H1 trade 10 Oct update 3.png Size: 23 KB
  • #26,169
  • Oct 10, 2013 11:11pm Oct 10, 2013 11:11pm
GU H1 10 Oct trade update3.

Here is my trade update showing JSL moved +25pips.

Attached Image (click to enlarge)
Click to Enlarge Name: GU H1 10 Oct trade update 3.png Size: 24 KB
  • #26,170
  • Oct 10, 2013 11:20pm Oct 10, 2013 11:20pm
Quoting crazyewok
Can I ask what leverage is normaly used and how much do you normaly risk and what do you normaly set your take profit as?
The leverage I use depends on the account type and broker I trade with.
I use leverage 1:50 for one account, another 1:100 and 1:200.
All different leverage for different money management strategy.

Risk per trade is not more that 2% per trade. Usually 1% to 2%.

Take profit is set to 5 times the initial risk, i.e. when I risk 2% my target is 10%.
R=2%
Target 5R.
  • #26,171
  • Oct 10, 2013 11:24pm Oct 10, 2013 11:24pm
Quoting mifa1407
Hi guys, does anyone know how to add pop up alert on MT4 indicator?

yes, I do.

But you have to post your indicator at the Platform Tech forum and not here please.

http://www.forexfactory.com/forumdisplay.php?f=69

Here in this thread, we share and discuss TMS trading method. Hope you do not mind.
  • #26,172
  • Oct 10, 2013 11:25pm Oct 10, 2013 11:25pm
Quoting bluejack
I know PHX62 would have made 100+ pips on EJ today.. I got around 30 pips..

Now we have 3 persons who knows.
  • #26,173
  • Oct 11, 2013 12:20am Oct 11, 2013 12:20am
Quoting dogal3x
no i ment this line http://screencast.com/t/fM54vHsTDL

Hi Dogal3x, that line is from a sonic channel (Sonic SHI Channel MTF)
Attached File(s)
File Type: ex4 m15-Sonic SHI Channel MTF.ex4   11 KB | 367 downloads
File Type: mq4 m15-Sonic SHI Channel MTF.mq4   9 KB | 428 downloads
  • #26,174
  • Oct 11, 2013 12:23am Oct 11, 2013 12:23am
price action all messed up. gonna take a nap and come at us open
Come tomorrow, I'll wake up new
  • #26,175
  • Oct 11, 2013 12:24am Oct 11, 2013 12:24am
Pips,

I think 1 of the secrets to forex & the markets is:

You have to enjoy drawing out your lines and plotting everything out.

I've always enjoyed market timing. I've always known in the back
of my mind that once I got really, really good at market timing that
no one would be able to stop me. What I like about tms & ff is
for the most part we all enjoy hardcore market timing. It's a
great challenge.

snarlyjack
  • #26,176
  • Oct 11, 2013 12:25am Oct 11, 2013 12:25am
Hi guys, im new to trading and i just find out about this method yesterday and it looks preaty sollid. But i cant make it work.
I know its an error from my part but i dont know exacly what it is. I think my mistake is that i didnt apreciate well the support and resistances.
I used 1H charts for the orders but i looked at the 4H versions to mo make decisions. So let me explain what is in the charts.
White lines are support and ressistences plum lines are BUY-entry, TP-take profit, SL-stop loss, ?SL-maybe where i should have put the SL.
Please point me to where the mistakes ware made!

http://imageshack.us/a/img14/2447/q4a9.jpg

http://imageshack.us/a/img12/4972/3mft.jpg

http://imageshack.us/a/img27/412/cz7i.jpg
"The trend is your friend, until the end, when it bends"
  • #26,177
  • Oct 11, 2013 12:26am Oct 11, 2013 12:26am
Vtayha,

Thankyou, I will check it out.
I enjoy learning new things, especially market timing with
pin point accuracy.

snarlyjack
  • #26,178
  • Oct 11, 2013 12:40am Oct 11, 2013 12:40am
Quoting gsbharaj
price action all messed up. gonna take a nap and come at us open

when you wake up from your nap, it will still be the same.

just trade the RN levels 00,25,50,75....
  • #26,179
  • Oct 11, 2013 12:47am Oct 11, 2013 12:47am
Quoting Helee
{quote} Hi Dogal3x, that line is from a sonic channel (Sonic SHI Channel MTF) {file} {file}

We have been warned on using the SHi channel.

here post 18708
  • #26,180
  • Oct 11, 2013 12:52am Oct 11, 2013 12:52am
EU strong breakout.
Did you see the several test and re-test., then we see TOK_5H now break above.

EU trade update 4
JSL +25pips.
Attached Image (click to enlarge)
Click to Enlarge Name: EU H1 trade 10 Oct update4.png Size: 23 KB
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