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Trading Made Simple

  • #38,301
  • Jun 12, 2014 6:57pm Jun 12, 2014 6:57pm
Here is more help to clarify things.

http://www.forexfactory.com/showthre...99#post4746699

Top of the morning to my dear friends. Can't smell or taste yet but feel better..

Why do I suggest entering at the BEGINNING OF CANDLE 1 OR 2 INSTEAD OF THE END. Go back and look at any 1hr or 4hr chart. HOW MANY CANDLES AVERAGE PER REVERSAL?

The sooner you get in the higher your adds.... sure you will have a few losses here and there. So what....
If you are good at something, never do it for free--Joker
  • #38,302
  • Jun 12, 2014 7:09pm Jun 12, 2014 7:09pm
Here is a change on bar 1. This bar is 5 minutes old, but it is small. Green below red, and above 68.
Attached Image (click to enlarge)
Click to Enlarge Name: nzdusdh4.png Size: 40 KB
If you are good at something, never do it for free--Joker
  • #38,303
  • Jun 12, 2014 7:10pm Jun 12, 2014 7:10pm
Here is a robust long bar number 2, again 5 minutes old, good cross, but an extended move. Stoch is also showing divergence this trade is quite risky in my view.
Attached Image (click to enlarge)
Click to Enlarge Name: eurgbph4.png Size: 35 KB
If you are good at something, never do it for free--Joker
  • #38,304
  • Jun 12, 2014 7:15pm Jun 12, 2014 7:15pm
This is a follow up chart to the GBPAUD trade I posted earlier. If you had waited for bar 1 to close and entered at the start of bar 2, you just left 60 pips on the table.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpaudh4.png Size: 40 KB
If you are good at something, never do it for free--Joker
  • #38,305
  • Jun 12, 2014 8:11pm Jun 12, 2014 8:11pm
Quoting jmn5611
.... sure you will have a few losses here and there. So what....
Good point. Get in early.
Everything you can imagine, is real - Pablo Picasso
  • #38,306
  • Jun 12, 2014 8:16pm Jun 12, 2014 8:16pm
Quoting jmn5611
This is a follow up chart to the GBPAUD trade I posted earlier. If you had waited for bar 1 to close and entered at the start of bar 2, you just left 60 pips on the table. {image}

Very nice trade man, was thinking about joining you in it but decided not too, now kicking myself x.x
Luck is what happens when preparation meets opportunity
  • #38,307
  • Jun 12, 2014 9:04pm Jun 12, 2014 9:04pm
Quoting jmn5611
{quote}

The whole point of Big E's thread was to show people how his system works.
That's the way people learn.

If he just posted screenshots of his H4 charts, no one would ever learn anything because anyone can hit the 'Print Screen' button.

But Big E named this thread of his Trading Made Simple.
Your screenshots do not show any trades whatsoever.....they are just screenshots of your charts.

So, how about showing your entry and exit on your chart.....why is that such an unreasonable thing to expect.

You know what I mean?.....to show "Trades", not just screenshots of charts....anyone could do that.
  • #38,308
  • Jun 12, 2014 10:25pm Jun 12, 2014 10:25pm
Emmanuel, Brizle and other seniors,
While I'm still making notes (till this week end), I have a question on SL.
Big E said SL should always be the H/L of previous swing, that way he said most of the times, his SL never got hit.
Now what if the previous H/L is 100 pips and beyond?
If and when SL gets hit, should not a % of the margin on that trade come back to the equity?
Margin for a .1 lot trade with 100 leverage, other things being equal, will be 100$.
In this case, if SL of 100 pips gets hit, my whole margin on that trade is gone from my equity ......
Thanks.
  • #38,309
  • Jun 12, 2014 10:38pm Jun 12, 2014 10:38pm
Quoting adikashyap
Emmanuel, Brizle and other seniors, While I'm still making notes (till this week end), I have a question on SL. Big E said SL should always be the H/L of previous swing, that way he said most of the times, his SL never got hit. Now what if the previous H/L is 100 pips and beyond? If and when SL gets hit, should not a % of the margin on that trade come back to the equity? Margin for a .1 lot trade with 100 leverage, other things being equal, will be 100$. In this case, if SL of 100 pips gets hit, my whole margin on that trade is gone from my equity...
Hi

Your margin is $ 100 ( based on 100 times liverage).
When trade closed Margin come back to equity but profit or loss on that trade added/ substracted back to equity.

Thanks
  • #38,310
  • Jun 12, 2014 10:45pm Jun 12, 2014 10:45pm
Quoting mkfx
{quote} Hi Your margin is $ 100 ( based on 100 times liverage). When trade closed Margin come back to equity but profit or loss on that trade added/ substracted back to equity. Thanks
Absolutely.
On a 100$ trade, If the SL is 100 pips, nothing comes back to equity ...
That is what I mean .....
  • #38,311
  • Jun 12, 2014 10:46pm Jun 12, 2014 10:46pm
@Adikashyap. You may have to look for broker that offers micro lot. Pepperstone for example allows you to open trade at 0.01 lot which 100 pip will only cost you around $10.
Everything you can imagine, is real - Pablo Picasso
  • #38,312
  • Jun 12, 2014 11:09pm Jun 12, 2014 11:09pm
Quoting Direwolf
@Adikashyap. You may have to look for broker that offers micro lot. Pepperstone for example allows you to open trade at 0.01 lot which 100 pip will only cost you around $10.
But risk and doubt remain same ...
Margin on .01 lot will gain will be 10$ ... on a 100 pip SL, I stand to lose all my 10$ margin ...
Whenever (IF) my trade hits SL, I want some % of the margin on that trade ... to come back to equity ... But that will mean having hard SL ... every time ...
Big E never supported or had hard SL, if I have understood him properly ....
  • #38,313
  • Jun 12, 2014 11:30pm Jun 12, 2014 11:30pm
Quoting adikashyap
{quote} But risk and doubt remain same ... Margin on .01 lot will gain will be 10$ ... on a 100 pip SL, I stand to lose all my 10$ margin ... Whenever (IF) my trade hits SL, I want some % of the margin on that trade ... to come back to equity ... But that will mean having hard SL ... every time ... Big E never supported or had hard SL, if I have understood him properly ....
He did have a hard stop loss, but it was well away from the market. He would put it at the last swing high or swing low. The TDI usually reacts in the opposite direction well before that.
If you are good at something, never do it for free--Joker
  • #38,314
  • Jun 12, 2014 11:43pm Jun 12, 2014 11:43pm
? I'm not sure if I understand you correctly. Say when a 0.01 lot hit 100 pips SL, you lose $10. Whatever amount is listed in your margin is never cut from your account, just that $10.

About stoploss being hit, you can definitely try it the Big E way - close trade manually when it doesn't go your way. It isn't as easy as it sounds tho and if you're still new, this will train yourself to bad habits.

You see your trade goes to -20 pips, what do you do? You don't know which way it's going and psychology will really make you panic when you have real money on the table and start closing trades after trades. The dangerous thing is that, if that becomes a habit, you'll start closing your winning trades when it gains 5 pips, too, being so scared that you will lose the profit you made. I know I've done this before.

Have a plan, and trade your plan. Think before entering a trade where you want to place your stop and when you want to move your stop. Try not to come up with plan while you're already in a trade, you'll make bad decision.
Everything you can imagine, is real - Pablo Picasso
  • #38,315
  • Jun 13, 2014 12:20am Jun 13, 2014 12:20am
Quoting Direwolf
? I'm not sure if I understand you correctly. Say when a 0.01 lot hit 100 pips SL, you lose $10. Whatever amount is listed in your margin is never cut from your account, just that $10. About stoploss being hit, you can definitely try it the Big E way - close trade manually when it doesn't go your way. It isn't as easy as it sounds tho and if you're still new, this will train yourself to bad habits. You see your trade goes to -20 pips, what do you do? You don't know which way it's going and psychology will really make you panic when you have real...
Direwolf,

Good post, very positive info for the newer members, good stuff.
Cheers
Mark up
Make sure that the light at the end of the tunnel is not an on coming train
  • #38,316
  • Jun 13, 2014 12:35am Jun 13, 2014 12:35am
Hi,

For those who are interested in ea based on TMS, not exactly as mentioned by Big E but inspired from TMS, development is being done by Xaphod & fxdaytrader here http://www.forexfactory.com/showthread.php?t=349418
Backtesting results are exciting at this stage. EA is taking trade based on tdi cross with trend filter and money management like BE and JSL.

Thanks
Manoj
  • #38,317
  • Jun 13, 2014 12:44am Jun 13, 2014 12:44am
More BE. USDJPY h1, +2pips.
Went 40 pips my way. TP was 50 pips. Perhaps a bit too ambitious since the average daily range is only 47.
Attached Image
Everything you can imagine, is real - Pablo Picasso
  • #38,318
  • Jun 13, 2014 1:08am Jun 13, 2014 1:08am
EJ Daily trade update

Trade started on Jun 10, 2014 here post#38,201
Partial profit taken and added to the position on Jun 10, 2014 here post#38,207
Trade update support resistance on Jun 11, 2014 here post#38,240
Trade update on Jun 13, 2014 here post#38,275
Trade closed manually with 31 pips profit as of the reasons shown below
EJ daily completed trade
Attached Image (click to enlarge)
Click to Enlarge Name: ej completed trade.png Size: 216 KB


EJ daily on normal candlestick
Attached Image (click to enlarge)
Click to Enlarge Name: EJ daily simple candles.png Size: 68 KB


EJ H4 chart
Attached Image (click to enlarge)
Click to Enlarge Name: EJ h4.png Size: 55 KB


I am done for the week as it is Friday and I'll be heading off to work now. Overall it was a good week.

Lessons learned from this trade
1. Pick and Analyse a pair on weekend. Pick any pair you want to work on.
2. Look for Round numbers, Support resistance, TDI (32, 68 areas) green and red aswell
3. On Monday, watch the PA movement (Is PA near your point 2 above)
4. On daily chart I was not worried about the news but still keep my eyes on news calendar.

I am planning to continue follow these steps religiously. Open to all comments and suggestions.

Kind regards
  • #38,319
  • Jun 13, 2014 4:16am Jun 13, 2014 4:16am
took this H4 trade as cross was good
Attached Image (click to enlarge)
Click to Enlarge Name: pic70.png Size: 59 KB
the cautious seldom err....C
  • #38,320
  • Jun 13, 2014 4:20am Jun 13, 2014 4:20am
took this on 2nd candle after bueb(H4)
Attached Image (click to enlarge)
Click to Enlarge Name: pic71.png Size: 60 KB
the cautious seldom err....C
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