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Trading Made Simple

  • #37,661
  • May 20, 2014 9:21am May 20, 2014 9:21am
EURAUD trade update shown using H1 chart to see where the Trailing Stop TS is behind the APB candle.

Attached Image (click to enlarge)
Click to Enlarge Name: EURAUD week21 19May H4 trade update2.png Size: 30 KB


Time for me to hit the sack. Way pass my bedtime and need to be up when ASX open.

Goodnight folks!
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #37,662
  • May 20, 2014 9:30am May 20, 2014 9:30am
Quoting emmanuel7788
{quote} Morevover, as a team we share many resources and split the costs too. This has worked out for me and my 8 trading buddies as a team and we share a live trading room together. Lots of fun everyday especially when we read posts in FF.
I wonder what he means by this.
Thanks for your help, warmth and straight talking Heather.
  • #37,663
  • May 20, 2014 10:20am May 20, 2014 10:20am
Trade taken shown on Post # 37,648 and it hit my TP of 114 pips while I was away. Great start to week.
Attached Image (click to enlarge)
Click to Enlarge Name: GA Daily Closed trade.png Size: 216 KB


Regards
  • #37,664
  • May 20, 2014 11:23am May 20, 2014 11:23am
Quoting emmanuel7788
EURAUD trade update shown using H1 chart to see where the Trailing Stop TS is behind the APB candle. {image} Time for me to hit the sack. Way pass my bedtime and need to be up when ASX open. Goodnight folks!
Hello...I am new to the thread and my broker 4 hr candle starts 12 midnight new york... Most start at 5:00 pm New york... Does it matter or is one start time better than the other... Remember one will start and close 1 hr earlier than the other.. Is there a preference..

I believe this to be the best trading system out there...

Thank You
  • #37,665
  • May 20, 2014 12:59pm May 20, 2014 12:59pm
Quoting Flipper58
Emmanuel, whilst I respect your talents from what you show on here I've been following the Big E thread since way before Eric passed away and what you've just shown above has absolutely nothing at all to do with TMS. Since when did the TMS thread advocate to adding to losing positions?
Have to agree as a long time advocate of the TMS system, its beauty and why it works is because of its simplicity.

If by adding indicators, bells and whistles helps you as a trader then use them by all means, the method put forward by Emmanuel contradicts the TMS method in a number of respects and while I'm sure it works, should maybe be put in its own thread as other variants have been (including my own).

I have to say that I am a little dismayed by the way this thread no longer seems to represent the TMS method as set out by the author. Coming to this thread now would only confuse me rather than provide a clear and profitable system that has been proven to be profitable over time.
We're all just one trade away from humility.
  • #37,666
  • May 20, 2014 1:36pm May 20, 2014 1:36pm
Quoting Drewas
{quote} Have to agree as a long time advocate of the TMS system, its beauty and why it works is because of its simplicity. If by adding indicators, bells and whistles helps you as a trader then use them by all means, the method put forward by Emmanuel contradicts the TMS method in a number of respects and while I'm sure it works, should maybe be put in its own thread as other variants have been (including my own). I have to say that I am a little dismayed by the way this thread no longer seems to represent the TMS method as set out by the author....
This happens to most if not all especially successful threads. I'm sure Eelfranz is not happy. This is the result of lack of gatekeepers to control the mob. I'm sure most who initially set out to use this system read up until content gets diluted. My advise, when the Artisans show up stop reading.
  • #37,667
  • May 20, 2014 2:06pm May 20, 2014 2:06pm
Quoting dforant1
{quote} This happens to most if not all especially successful threads. I'm sure Eelfranz is not happy. This is the result of lack of gatekeepers to control the mob. I'm sure most who initially set out to use this system read up until content gets diluted. My advise, when the Artisans show up stop reading.
Hi dforant,

I, for one, would love to see how both you and Drewas are doing trading this as per page one.

If you can get consistent results trading, as per post one, good for you both I'm sure we could all learn from you.

I've read, back through, a lot of the thread and can see the H4 charts, from a few years ago, have changed the daily ADR has changed year on year and the volatility has changed.

What worked well then won't necessarily work so well today.

If BigE was still with us I'm sure he would have had to adapt his method to keep it's competitive edge. Unfortunately we no longer have the benefit of his wisdom so if either of you would like to step up to the plate, I am ready to learn from you both.

We can all take as much or as little of what is being used here as we feel will be useful to us.

Regards
  • #37,668
  • May 20, 2014 2:15pm May 20, 2014 2:15pm
Quoting emmanuel7788
EURAUD trade update shown using H1 chart to see where the Trailing Stop TS is behind the APB candle. {image} Time for me to hit the sack. Way pass my bedtime and need to be up when ASX open. Goodnight folks!

Hello... What hours do you trade... I see you in here all the time... I would like to follow your post as they are posted..

Thank You
  • #37,669
  • May 20, 2014 2:15pm May 20, 2014 2:15pm
Quoting MrAussieFX
Trade taken shown on Post # 37,648 and it hit my TP of 114 pips while I was away. Great start to week. {image} Regards

Excelent trade Aussie...
Sad i'm not trying to understand PA
  • #37,670
  • May 20, 2014 2:42pm May 20, 2014 2:42pm
Quoting stevepatt
{quote} Hi dforant, I, for one, would love to see how both you and Drewas are doing trading this as per page one. If you can get consistent results trading, as per post one, good for you both I'm sure we could all learn from you. I've read, back through, a lot of the thread and can see the H4 charts, from a few years ago, have changed the daily ADR has changed year on year and the volatility has changed. What worked well then won't necessarily work so well today. If BigE was still with us I'm sure he would have had to adapt his method to keep it's...
Stevepatt totaly agree with you , you rock
  • #37,671
  • Edited 4:08pm May 20, 2014 3:47pm | Edited 4:08pm
Quoting Flipper58
Emmanuel, whilst I respect your talents from what you show on here I've been following the Big E thread since way before Eric passed away and what you've just shown above has absolutely nothing at all to do with TMS. Since when did the TMS thread advocate to adding to losing positions? From what I've seen it's just the opposite, cut your losers short and let your winners run. By doing this you are encouraging new people here to take far more risk than their experience can handle and personally I think it's garbage. From what I can see of that trade you were dead lucky, nothing more, nothing less.
I would say that "position building" (only called this by the way for "pro traders", if a newer trader does it its called "adding to a losing position") is a very dangerous thing for any new trader to be doing.
Here's a novel idea and not sure if its a good one or not wait for a good signal that its actually going to turn around and then add to winning positions instead.
  • #37,672
  • May 20, 2014 3:57pm May 20, 2014 3:57pm
Quoting lastingwell
I would say that "position building" (only called this by the way for "pro traders", if a newer trader does it its called "adding to a losing position") is a very dangerous thing for any new trader to be doing. Here's a novel idea and not sure if its a good one or not wait for a good signal that its actually going to turn around and then add to winning positions instead.
it works about 50% of the time; but in a good trend it'll work almost every time.

especially those m15 pinbars/2 bar reversals... once price exceeds the set-up to trigger the usual reversal entry you should fade the reversal and go with the trend - tend to do well.
Build good relationships with others.
  • #37,673
  • May 20, 2014 4:11pm May 20, 2014 4:11pm
Quoting emmanuel7788
{quote} Hi Flipper58, I started my learning journey in the Craig Harris Stochastic thread and I learn both the 21/233 Method and the 5-Method. Back then I was trading a version of the COWABUNGA system using 10,50,100,200 MAs, MACD and Stochastics. Finally I made the switch and stick to using the 5-Method as my core technical trading strategy. This TMS thread was started by eelfranz aka Big E for us to continue to discuss and share our trades using the 5-Method. TMS is not limited to post#1 only and I also look at post#261 and developed from there...
I'm not going to get in to an argument here Emmanuel but I still disagree. I'm not saying "things" shouldn't evolve and I also realise the swings have changed on H4 over the last year or so but by the third entry that trade was around 250pips in the red. Unless you're trading 10 cents a pip please don't tell me your heart wasn't beating like hell on that pin bar candle where you entered a third time. You got the trade totally wrong not once but 3 times and maybe your bank and experience can handle that but newcomers would most certainly not.
Per Ardua Ad Astra - Through Adversity To The Stars
  • #37,674
  • May 20, 2014 4:45pm May 20, 2014 4:45pm
Quoting Flipper58
{quote} I'm not going to get in to an argument here Emmanuel but I still disagree. I'm not saying "things" shouldn't evolve and I also realise the swings have changed on H4 over the last year or so but by the third entry that trade was around 250pips in the red. Unless you're trading 10 cents a pip please don't tell me your heart wasn't beating like hell on that pin bar candle where you entered a third time. You got the trade totally wrong not once but 3 times and maybe your bank and experience can handle that but newcomers would most certainly...
Maybe just as a general point. I think the real question here is, what is the average win and average loss size for these trades. Doesn't scaling in automatically favour taking a larger position on poorer trades because the good ones would have bounced earlier and you'd be left with only 1/3 of the full position size? How does these stats compare with say... using a full position on the middle level?

Unless scaling into losers is accompanied by a structured plan to scale into winners, I can't see how it wouldn't discriminate against the better trades.
Build good relationships with others.
  • #37,675
  • May 20, 2014 4:45pm May 20, 2014 4:45pm
Quoting stevepatt
{quote} Hi dforant, I, for one, would love to see how both you and Drewas are doing trading this as per page one. If you can get consistent results trading, as per post one, good for you both I'm sure we could all learn from you. I've read, back through, a lot of the thread and can see the H4 charts, from a few years ago, have changed the daily ADR has changed year on year and the volatility has changed. What worked well then won't necessarily work so well today. If BigE was still with us I'm sure he would have had to adapt his method to keep it's...
I trade one pair, EU. 2am till 10am EST H1. Generally I need 80 100 pips per week, but average aprox., 130pips. I control my profits with Lot size. Anything over 80 pips I bank for London Bank closes, vacations, etc. I cheat a lot by using the TDI green line prior to the cross as long as it is a strong angle and candle color. 15Pip stop loss. 70Pip TP. I use the break even Capital Protection option with Cave Manager. I also set the MT4 alerts halfway through to TP and SL. If I don't like the trade I get out. 5 minutes before each hour I check on TDI . If it qualifies I take the trade and go back to bed. I run the trend setting a new stop loss. And so on. I don't use the yellow market sentiment line with TDI nor the candle channel. Don't need them. Just a 5 period moving average for candle consolidations. Some would have sleep pattern problems with sleep but I don't. I will eventually ad a few more pairs to observe. I know E was crazy about H4. I cut my teeth on H1. So now being retired and no sleep problems I'll stick with H1. Patience is needed, some weeks only 5 trades using 1 pair. The long term average is good. I also have a user friendly broker that doesn't interfere as much as others during news . The spread is very consistent.
  • #37,676
  • May 20, 2014 4:56pm May 20, 2014 4:56pm
Quoting dforant1
{quote} I trade one pair, EU. 2am till 10am EST H1. Generally I need 80 100 pips per week, but average aprox., 130pips. I control my profits with Lot size. Anything over 80 pips I bank for London Bank closes, vacations, etc. I cheat a lot by using the TDI green line prior to the cross as long as it is a strong angle and candle color. 15Pip stop loss. 70Pip TP. I use the break even Capital Protection option with Cave Manager. I also set the MT4 alerts halfway through to TP and SL. If I don't like the trade I get out. 5 minutes before each hour I...
5 trades/week sound a lot actually... with the volatility these days how do you expect to bank 70 pips per trade on eur/usd and make 1 trade on average each day, it's like guessing the low/ high of the day everyday accurately and even then you might not get 70 pip moves; unless you open more than one trade at a time and many of your trades are correlated (in the same direction) and you stack them?
Build good relationships with others.
  • #37,677
  • May 20, 2014 5:02pm May 20, 2014 5:02pm
Quoting emmanuel7788
{quote} Hi Steve, Good analysis and consistent approach as I learn from your charts. There is resistance turned support at the region 1.3600 and the resistance region is around 1.3850. Using the D chart, I see a buy potential when the TDI is extended and went outside the Volatility Band VB , now crossing back insdie the VB. Under such condition, I will use position building on D-chart. I think this trade will be the one for this month May. Will post my Big Picture Plan later once I get back home. regards, EMMANUEL
Hi Emmanuel
When you said, "I think this trade will be the one for this month." I take it that your perspective on Euro/Usd is Bullish. But looking at the bigger picture which you are a fan of...I came to the understanding that E/U wont be able to make a smooth uptrend above 1.3950/4000 psychological level. Looking at previous 2 weeks bearish candle...that should give us a concern to first consider the set up on daily now as a consolidation of a downtrend and measure it first with Fib retracement. That will help us to contain an surprise from smart money or whatever they are called...
Attached Image (click to enlarge)
Click to Enlarge Name: eurusdweekly.png Size: 50 KB
  • #37,678
  • May 20, 2014 5:08pm May 20, 2014 5:08pm
Quoting shellsnail
{quote}with the volatility these days how do you expect to bank 70 pips per trade on eur/usd
He didn't say that Shellsnail, 80-100 pips per week and an average of 130pips.
Per Ardua Ad Astra - Through Adversity To The Stars
  • #37,679
  • May 20, 2014 5:10pm May 20, 2014 5:10pm
Quoting shellsnail
{quote} 5 trades/week sound a lot actually... with the volatility these days how do you expect to bank 70 pips per trade on eur/usd and make 1 trade on average each day, it's like guessing the low/ high of the day everyday accurately and even then you might not get 70 pip moves; unless you open more than one trade at a time and many of your trades are correlated (in the same direction) and you stack them?
He said he has a take profit of 70 pips, not that he expects to bank it on every trade. He said he averages 130 pips per week, thats an average of less than 30 pips per day.
  • #37,680
  • May 20, 2014 5:13pm May 20, 2014 5:13pm
Quoting Flipper58
{quote} He didn't say that Shellsnail, 80-100 pips per week and an average of 130pips.
yes, but why have a take profit of 70 pips if one doesn't expect it to be hit?
Build good relationships with others.
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