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Trading Made Simple

  • #35,881
  • Apr 14, 2014 4:02pm Apr 14, 2014 4:02pm
Quoting bdnfx86
{quote} 1st TP reached, 2/3 stopped out at b/e + ~1 {image}

bdnfx86,

That is a good Exit Strategy ... time tested and proven to improve win rate. I learned this years ago and use that since.
Thanks for sharing your trades here.

regards,

EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #35,882
  • Apr 14, 2014 4:06pm Apr 14, 2014 4:06pm
Quoting emmanuel7788
{quote} bdnfx86, That is a good Exit Strategy ... time tested and proven to improve win rate. I learned this years ago and use that since. Thanks for sharing your trades here. regards, EMMANUEL
Thanks Emmanuel

My main focus is to make conservative, consistent gains. I'll turn it up a notch if I close the month in the green.

Cheers
  • #35,883
  • Apr 14, 2014 4:16pm Apr 14, 2014 4:16pm
GBPJPY week16 H4 trading:

Here is a 4H swing trade attempt.
Lesson learned: move initial Sl too quickly to protect capital and suffered the stopped out. Next time, I will use scale-out with multi-lot trading.
That way, I can take one TP +20pips and either hold my inital SL and even when I move to BE, I still win 20pips.
If I held my initail SL, that first win 20pips will reduce the overall risk by 20pips.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPY week16 H4 14 April trade stopped out.png Size: 44 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #35,884
  • Apr 14, 2014 4:28pm Apr 14, 2014 4:28pm
Quoting Erol
I know a lot of people back-test their strategies, some jump in feet first seeing other people make $ and then realise they might be missing a few things when they have a string of losses (this is part of the learning curve). If that is the case for some of you right now, do you properly understand the expectancy of the system you are trading in the TMS thread, are you trading a system that is right for your personality and your beliefs about trading? More importantly, do you believe being right and making money are equivalent? If the answer is...

Erol,

At one stage in my trading career, I held on to my belief that I am always right until the market proves me wrong. This helped me build up my confidence and consistency in the way I do my Big Picture Planning and in the way I approach the market everyday. I love to be proven wrong by the market and that's when my Plan B will usually work out and I make money with Plan B while Plan A fails. To make money in the markets we trade, we first need to be a participant in the market. Having a Plan A and a Plan B, and sometimes a Plan C will help us make money in this belief 'always be in the market to make money'. Being a fulltime trader and trading for my retirement income, this works for me. I don't know about the professional traders out there what their views on this are. Would be good we hear from some professinal traders.

I notice on th cover page of the pdf The Trader's Journal you posted, there is an Interview with Joe DiNapoli. That featured article should be a good read too.

Thanks for the pdf.

regards,

EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #35,885
  • Apr 14, 2014 5:04pm Apr 14, 2014 5:04pm
Quoting thinkpad123
{quote} Yes you just have to load it and you are good to roll
Excellent thank you - I assume all the settings are for H4 charts?

Do you have a summary of what how the EA will manage trades based on your settings?

I live in New Zealand so 'normal' trading hours are when everyone else is going to bed - hoping I can 'set and forget' with this tool.

One last thing I am reading about the benefits of closing trades at 6am Pacific time (2am my time). Can Cave Manager be programmed to do that, or will I have to set my alarm and close trades manually? Hopefully without waking the family :-)

Regards,

Gavin
  • #35,886
  • Apr 14, 2014 6:27pm Apr 14, 2014 6:27pm
Hello All ,
I am new in FF forum and new in this thread since a couple of days. While I was viewing the news page I saw a link to this TMS and had to take a look.
Page #1 was so interesting that I subscribed to FF and this thread. (I also follow the ea thread a little bit).

Having read a lot of pages in here and experiencing the good work as it was intended by most of you, I am grateful to be here and hope to learn a lot, and maybe will be capable of helping out others too.

I started FX in Summer 2006 and went through all stages at 16 hours a day for the first 4 yrs. That cost me my relationship and my house. Needless to say that "I have been there, done that and wearing the t-shirt".
After taking a break from FX for 16 months or so, I am now ready to be serious about it. I found my discipline and my patience and am looking around for interesting ideas.

Ever since I read the explanations of Big E and the fact he uses the TDI and his very simple setup , I can't resist coming back and learn from your charts and trades. Thank you all guys for being here and making this wonderful idea from Big E into a practice for everybody!

Cheers,
lenny
  • #35,887
  • Apr 14, 2014 7:22pm Apr 14, 2014 7:22pm
Quoting vaper
Hello All , I am new in FF forum and new in this thread since a couple of days. While I was viewing the news page I saw a link to this TMS and had to take a look. Page #1 was so interesting that I subscribed to FF and this thread. (I also follow the ea thread a little bit). Having read a lot of pages in here and experiencing the good work as it was intended by most of you, I am grateful to be here and hope to learn a lot, and maybe will be capable of helping out others too. I started FX in Summer 2006 and went through all stages at 16 hours a day...
Hi vaper,

Welcome to TMS! Thanks for sharing your trading history.

I would recommend you get started with learning the 5-Method first. Then you will need to decide your trading business hours and your trading business plan.
The 5-Method is the core of TMS. Our late OP eelfranz had made it simple as he wrote in post#1 how he traded on the H4 charts. When the 5-Method started, he was trading the M15 and H1 chart timeframes. Those timeframe trading still work as you will learn from our H1 maestro Phx62.

Please go back to read my post#32,838 [click]
There will be some work you need to do and to get up to speed here. Not an easy task to read all the thousands of posts. But you can make it easy by reading the 861 posts by eelfranz in the 5-Method thread , then read the 463 post by ellfranz in this TMS thread. These will provide you the foundation to advance onwards.
Post here when you have any questions. There are several experienced members here who will help you.

regards,

EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #35,888
  • Apr 14, 2014 7:33pm Apr 14, 2014 7:33pm
AUDJPY week16 H4 trade closed.

Attached Image (click to enlarge)
Click to Enlarge Name: AUDJPY week16 H4 trade 14 Apr close.png Size: 27 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #35,889
  • Apr 14, 2014 7:51pm Apr 14, 2014 7:51pm
UK data release today.
It is now 3:45am in the UK.
so we prepare for this big trading day for GBPUSD and its Crosses.
Still have my eyes on GBPJPy since my posts yesterday... it is still narrow range sideways. .. and Weekly bias and Daily bias are in conflict.
Being a conservative trader, I stick to my money management strategy to mitigate the risks.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #35,890
  • Apr 14, 2014 8:37pm Apr 14, 2014 8:37pm
Quoting emmanuel7788
AUDJPY week16 H4 trade closed. {image}
Hello Emmanuel,

I see on your charts you are using the TMS_V19_MTF.

I am also somewhat conservative in my trading so wondered if you have a .set file for that EA that you could share with me for H4 and H1 charts?

Cheers!
  • #35,891
  • Edited 9:47pm Apr 14, 2014 9:31pm | Edited 9:47pm
Quoting emmanuel7788
AUDJPY week16 H4 trade closed. {image}
Looks like it hit straight into a trend line acting as resistance. Nice manual exit though Emmanuel. Pips are pips at the end of the day $$$.
  • #35,892
  • Apr 14, 2014 10:05pm Apr 14, 2014 10:05pm
EURAUD week16 15 Apr:

A valid setup with that 3 price candles/bars.

Our job as traders is to identify the risks and mitigate those risk.

Attached Image (click to enlarge)
Click to Enlarge Name: EURAUD week16 15 Apr valid setup.png Size: 29 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #35,893
  • Apr 14, 2014 10:11pm Apr 14, 2014 10:11pm
Anyone found any good 6am 4H London setups?

Only potential one I have is AUSUSD but decided to leave it since previous 10 or so candles are fairly small with no clear trend.

See you all at 10am!
Focus on the process and the profits will follow
  • #35,894
  • Apr 14, 2014 10:17pm Apr 14, 2014 10:17pm
A Candlestick Poster
Attached Image (click to enlarge)
Click to Enlarge Name: Candlestick+Poster.png Size: 1.1 MB
Sad i'm not trying to understand PA
  • #35,895
  • Apr 14, 2014 10:36pm Apr 14, 2014 10:36pm
AUDUSD week16 H4:

A valid setup with H-L, LH ....seen.
a 3 bar bearsih pattern with Inside Bar breakout. Also there is a trendline break for entry.

TMS setup TDI cross and APB#2 entry.
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD week16 H4 trade.png Size: 38 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #35,896
  • Apr 14, 2014 10:38pm Apr 14, 2014 10:38pm
Quoting omonisha
A Candlestick Poster {image}

Very nice poster I can hang on my wall.

Thank you omonisha.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #35,897
  • Edited 11:04pm Apr 14, 2014 10:38pm | Edited 11:04pm
im short AU - true about the small candles though - but bearish divergence swung it for me

long eurnzd

short audjpy (with bearish divergence too)

long euraud


quite a few 6am setups for me today...lets see what happens

Quoting Ballistical
Anyone found any good 6am 4H London setups? Only potential one I have is AUSUSD but decided to leave it since previous 10 or so candles are fairly small with no clear trend. See you all at 10am!
  • #35,898
  • Apr 14, 2014 10:43pm Apr 14, 2014 10:43pm
Quoting Ballistical
Anyone found any good 6am 4H London setups? Only potential one I have is AUSUSD but decided to leave it since previous 10 or so candles are fairly small with no clear trend. See you all at 10am!
I'm long EURAUD, short AUDCHF and short AUDJPY, 1 micro lot each. Going to sleep (I'm on Pacific time) and will be up in 4 hours to check the trades.
  • #35,899
  • Apr 14, 2014 10:44pm Apr 14, 2014 10:44pm
Quoting Kozij
{quote} Looks like it hit straight into a trend line acting as resistance. Nice manual exit though Emmanuel. Pips are pips at the end of the day $$$.

Hi Kozij,

Thanks.
Yeah, that trendline and that H4 pin bar woke me up. Decided to bail out.
Protection of trading capital is top priority.

regards,

EMMANUEL
Attached Image (click to enlarge)
Click to Enlarge Name: AUDJPY H4 trendline and pin bar.png Size: 30 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #35,900
  • Apr 14, 2014 10:47pm Apr 14, 2014 10:47pm
Quoting Ballistical
Anyone found any good 6am 4H London setups? Only potential one I have is AUSUSD but decided to leave it since previous 10 or so candles are fairly small with no clear trend. See you all at 10am!
Yeah, 10am for me, too Everything is counter-trend today. I marked AUDUSD, too, and GBPNZD, but neither looked too good
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