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Trading Made Simple

  • #47,641
  • Dec 23, 2014 4:22pm Dec 23, 2014 4:22pm
[quote=snarlyjack;7960396]{quote} Dforant, Ok...what would you suggest? sj[/quote

There are lots of newbies here and throwing 80% around is not manageable. Some may be if one wants to push the limit and risk a lesser profit. 50 to 80% per trade more realistic. Thanks for the helping out with this thread. It has been quite lively for some time now. I am a profiter of it.

Merry Christmas.....
  • #47,642
  • Dec 23, 2014 5:11pm Dec 23, 2014 5:11pm
Quoting sknight1
{quote} He's not joking, he's absolutely correct. SJ is talking about catching 80% of a leg up / down. Here's an example from two weeks ago on eur/aud. The yellow lines are roughly 80% of each leg up when the TDI crosses above the 50 line. I don't know about you but, I could live quite well on the dollar amounts traded for those moves.... actually, I could live quite well by catching 50-75% of those moves. {image}
Imagine...Just for a minute...

Look at Sknight chart (post # 47,649).
That is basically what were doing!
It's the safest way to trade that I know of, their are no guarantees!

Once you get good & you know what your doing.
Imagine trading this way on 5-8 pairs...their is always something
going on. Some longs, some short...your taking what the market
is giving you. You don't really care about %. What you do care about
is money per day or per week or per month.

The point I'm trying to make is, how much money can we make each week
(good weeks & bad weeks)! Then if I need more money I can use money
management to really drill down. I can increase my money per pip.
Remember that Eelfranz bet $10.00 per pip. A 50 point move (which is easy)
could mean $500.00 per day on 1 contract. 2 contracts would be $1,000.00
per day.

Let's say were trading 8 pairs. And out of those 8 pairs, 3 of them are really moving.
$10.00 per pip x 3 contracts x 50 pip move = $1500.00 per day. I can live on that!

Just something to think about! Don't think %, think money !

sj
  • #47,643
  • Dec 23, 2014 5:28pm Dec 23, 2014 5:28pm
Quoting snarlyjack
{quote} Imagine...Just for a minute... Look at Sknight chart (post # 47,649). That is basically what were doing! It's the safest way to trade that I know of, their are no guarantees! Once you get good & you know what your doing. Imagine trading this way on 5-8 pairs...their is always something going on. Some longs, some short...your taking what the market is giving you. You don't really care about %. What you do care about is money per day or per week or per month. The point I'm trying to make is, how much money can we make each week (good weeks...

  • #47,644
  • Dec 23, 2014 7:25pm Dec 23, 2014 7:25pm
Quoting snarlyjack
{quote} Imagine...Just for a minute... Look at Sknight chart (post # 47,649). That is basically what were doing! It's the safest way to trade that I know of, their are no guarantees! Once you get good & you know what your doing. Imagine trading this way on 5-8 pairs...their is always something going on. Some longs, some short...your taking what the market is giving you. You don't really care about %. What you do care about is money per day or per week or per month. The point I'm trying to make is, how much money can we make each week (good weeks...
  • #47,645
  • Dec 23, 2014 8:30pm Dec 23, 2014 8:30pm
Hi Folks,

I see we have a few new members - michael_k, shoe, Marin0s, GreenGoblin recent posts and they have made commitment to start trading TMS and have plans made for 2015. I am sure there are others but did not post and share their intentions yet. It is festive holidays time and most of us will have some time to make new plans and resolution for 2015.
When you make your business trading plan for trading TMS in 2015 and you are considering which currency pairs to trade during your trading hours, I would recommend you spend time and learn the currency pairs - its volatility and also what their pip $value are.

Here is a good website which I been in for many years.

Learn the currency pairs Volatility:
https://www.mataf.net/en/tools/02-01-volatility

Pips $value:
https://www.mataf.net/en/tools/04-02-pip-value

Knowing both the volatility range and pips value is important so that we keep your Exits (Initial SL and TPs) within expectations and when you trade with position sizing, the pip value is use to calculate your Risk and Trade position size.

There are other tools available at that website which I find very useful.

regards,

Seasons' Greetings
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #47,646
  • Dec 23, 2014 9:07pm Dec 23, 2014 9:07pm
Quoting emmanuel7788
Hi Folks, I see we have a few new members - michael_k, shoe, Marin0s, GreenGoblin recent posts and they have made commitment to start trading TMS and have plans made for 2015. I am sure there are others but did not post and share their intentions yet. It is festive holidays time and most of us will have some time to make new plans and resolution for 2015. When you make your business trading plan for trading TMS in 2015 and you are considering which currency pairs to trade during your trading hours, I would recommend you spend time and learn the...

emmanuel...any idea what the time zone is for that volatility?
Daniel
  • #47,647
  • Edited Dec 24, 2014 2:13am Dec 23, 2014 9:12pm | Edited Dec 24, 2014 2:13am
Here is one more suggestion to those who intent to trade TMS in 2015 and will be making your trading plans over the year-end holidays.

If you want to trade TMS H1 on Intraday basis, start simple and include in your Intraday H1 trade plan any five(5) types of H1 setups which you will look for and make samples of charts and include these in your trading business plan. I have done my H1 trade plan just this morning and it was pretty easy because I had them already and I only reviewed them and updated my document update to 2015.

The five(5) common setups I trade with are:-

Note: I use Tokyo Open at GMT+0000 as my Day Open.

(1) SYD_2H range breakout. This is to trade the early Asian - Tokyo session between GMT0000 to GMT0400. Syd ASX opens 2 to 3 hours (depends on DST) before Tokyo Open, so I marked the first 2 hours of the Sydney Open and use that high-low range to trade when Tokyo opens. Target is 20 pips. Trade only AUDUSD, AUDJPY and EURJPY.

(2) TOK_5H channel breakout. Quite similar to the SYD_2H range breakout, except this one I use the Tokyo first 5 hours range (40pips max) and trade when price action shows a breakout of the narrow TOK_5H range.

(3) London Session trading. Two types of trading.
a) Continuation of the early Asian session. Look at PA candle size for setups and trade away from the Day Open.
b) Reversal after London Open 2~3 hours, observing the Tokyo Close PA.

(4) Intraday Reversal. This can happen at anytime during the London session including the overlap market hours with the US session right up till London closes around GMT1600. I look for reversal when PA fails around the Previous Day Fib extension 127%.

(5) BRN00 Price Action Trade. Look at the PA setups around the BRN00 levels and trade away from the 50EMA and 200EMA as dynamic support and resistance.

Above are just five(5) common types of setups I look for when I trade intraday and these must comply with TMS use of the APB and TDI.
Price Action is kept to the simple use of a few common candlesticks/bar patterns - Inside Bar IB, Bullish Outside Bar BUOB, Bearish Outside Bar BEOB, Master candle, Bullish Engulfing Bar BUEB and Bearish Engulfing Bar BEEB. And also the 3-bars reversal patterns which I look for very often. Other traders calls them PCRF.


For (2) to (5), I trade the following pairs - EURUSD, GBPUSD, EURJPY, EURAUD, EURNZD, GBPAUD and GBPNZD. Ocassionally EURGBP when I see potential 'big moves' and when the three amigos are not riding in the same direction. Note, the pip $value is the best among all currency pairs.

When I resume trading in Week 03/2015 (12 Jan onwards) I will post daily H1 charts and explain the above types of H1 trades setups in live market.

Stay tune.

Seasons Greetings.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #47,648
  • Dec 23, 2014 9:54pm Dec 23, 2014 9:54pm
Quoting emmanuel7788
Hi Folks, I see we have a few new members - michael_k, shoe, Marin0s, GreenGoblin recent posts and they have made commitment to start trading TMS and have plans made for 2015. Learn the currency pairs Volatility: https://www.mataf.net/en/tools/02-01-volatility Pips $value: https://www.mataf.net/en/tools/04-02-pip-value Knowing both the volatility range and pips value is important so that we keep your Exits (Initial SL and TPs) within expectations and when you trade with position sizing, the pip value is use to calculate your...
Hi emmanuel,
Thank you for all the knowledge/experience/tools that you so freely share with us newbie traders making our learning time so much easier, quicker and simpler.

Much appreciated.
May I take this opportunity of wishing you a Merry Xmas and everything of the BEST for 2015.
  • #47,649
  • Dec 23, 2014 10:44pm Dec 23, 2014 10:44pm
Quoting sknight1
{quote} He's not joking, he's absolutely correct. SJ is talking about catching 80% of a leg up / down. Here's an example from two weeks ago on eur/aud. The yellow lines are roughly 80% of each leg up when the TDI crosses above the 50 line. I don't know about you but, I could live quite well on the dollar amounts traded for those moves.... actually, I could live quite well by catching 50-75% of those moves. {image}
Excellent sknight1 - well said!!!
  • #47,650
  • Dec 23, 2014 10:48pm Dec 23, 2014 10:48pm
Quoting erelation
My Trade Result for Today GBPUSD : +40 pips USDCAD : + 1 pip EURNZD : + 1 pip GBPAUD : +34.4 pips
Well done erelation - a great trading year for you mate - congrats!!!
  • #47,651
  • Edited 11:08pm Dec 23, 2014 10:51pm | Edited 11:08pm
Quoting GreenGoblin
Quoting Marin0s
Hello All! I would like to introduce myself with this post, as I am planning to follow this beautiful strategy and will post my analyses/trades here for questioning and advice. Been reading the thread for a few weeks now and got a lot of inspiration here. Begin 2014 I was very interested in stock trading, during my Hey Marin0s, I have been testing this system for 6 months and I suggest any newbie do the same before going live. You need to have full trust in any system and that comes through time with ups and downs. Im 1H behind
...
"one day I will make the 1000 pips a month Emmanuel makes, ..."

Hi GreenGoblin, good post - i think in Emmanuel's case its more like 1000pips per W, ... LOL! You will have to scroll back to Nov posts but his stats are incredible...

"In the first 2 weeks of Nov, I completed total 37 trades on just 4 currency pairs in weeks 45 and 46. There were 2 losers (-36pips, -54pips) and therefore leaving only 35 profitable trades out of the 37 trades. The 2959 pips is nett after deducting the 2 losses.", Emmanuel (post http://www.forexfactory.com/showthre...69#post7879669)
  • #47,652
  • Dec 23, 2014 11:05pm Dec 23, 2014 11:05pm
Quoting griffinssoul
{quote} Excellent sknight1 - well said!!!

Thanks Griff. Can you believe that I had +40 on GN short during Asian tonight and it slipped back and stopped me for BE ?!? And of course, now it's off and running again. lol Time for your favorite emoticon....



I have about this much hair left.
  • #47,653
  • Dec 23, 2014 11:12pm Dec 23, 2014 11:12pm
Quoting sknight1
{quote} Thanks Griff. Can you believe that I had +40 on GN short during Asian tonight and it slipped back and stopped me for BE ?!? And of course, now it's off and running again. lol Time for your favorite emoticon.... I have about this much hair left.
LOL... i just laugh so much when i see it... cant help it...

You know what i am going to say - i would have taken the 40 30 and run, especially in the Asian session...
  • #47,654
  • Dec 23, 2014 11:17pm Dec 23, 2014 11:17pm
Quoting griffinssoul
{quote} LOL... i just laugh so much when i see it... cant help it... You know what i am going to say - i would have taken the 40 and run, especially in the Asian session...
I tried, really ! I'd walked away from the computer for a moment and "zap".... it was running back in the wrong direction. I should just target 30 pips on every trade. That seems more reasonable (for a 1H chart). The times I get to 40-50 it seems to have stretched PA too tight and PA snaps back in the other direction.
  • #47,655
  • Dec 23, 2014 11:24pm Dec 23, 2014 11:24pm
Quoting sknight1
{quote} I tried, really ! I'd walked away from the computer for a moment and "zap".... it was running back in the wrong direction. I should just target 30 pips on every trade. That seems more reasonable (for a 1H chart). The times I get to 40-50 it seems to have stretched PA too tight and PA snaps back in the other direction.
I just look at the chart and PA and ask myself has it got room and does it look like it could go X pips (how fast/strong is PA, is it near local S/R etc)? It also depends on session. Safe is 30, normal is 50, 70 is extended... for 1H/4H trades... (around 100 and then you have clicked a gear up to the higher TF)
  • #47,656
  • Dec 23, 2014 11:39pm Dec 23, 2014 11:39pm
Quoting griffinssoul
{quote} I just look at the chart and PA and ask myself has it got room and does it look like it could go X pips (how fast/strong is PA, is it near local S/R etc)? It also depends on session. Safe is 30, normal is 50, 70 is extended... for 1H/4H trades... (around 100 and then you have clicked a gear up to the higher TF)

Yep, I'm now getting into the habit of going through the same process... long or short... is it pushing away from my MA's... how many pips to the next swing hi / low.... can I get in and out with good risk management....??? That's my checklist.

In the case of GN tonight.... I was targeting 50 pips, which was 15 less than the previous swing low. I think the idea and the process were correct but, PA didn't want to play ball.
  • #47,657
  • Dec 23, 2014 11:42pm Dec 23, 2014 11:42pm
Quoting sknight1
{quote} Yep, I'm now getting into the habit of going through the same process... long or short... is it pushing away from my MA's... how many pips to the next swing hi / low.... can I get in and out with good risk management....??? That's my checklist. In the case of GN tonight.... I was targeting 50 pips, which was 15 less than the previous swing low. I think the idea and the process were correct but, PA didn't want to play ball.
...i suspect Santa had something to do with it... LOL!
  • #47,658
  • Dec 23, 2014 11:43pm Dec 23, 2014 11:43pm
Quoting griffinssoul
{quote} ...i suspect Santa had something to do with it... LOL!

Bah !!! That darn trouble maker !
  • #47,659
  • Dec 24, 2014 3:08am Dec 24, 2014 3:08am
BrentOil is looking to take a dive??



Regards
  • #47,660
  • Dec 24, 2014 4:07am Dec 24, 2014 4:07am
Quoting griffinssoul
{quote} I just look at the chart and PA and ask myself has it got room and does it look like it could go X pips (how fast/strong is PA, is it near local S/R etc)? It also depends on session. Safe is 30, normal is 50, 70 is extended... for 1H/4H trades... (around 100 and then you have clicked a gear up to the higher TF)
I really like this...nice and simple
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