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Trading Made Simple the right way, and other trading lessons 334 replies

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Trading Made Simple

Quoting lastingwell
Trade taken on m15 with agreement from h1 and h4, trying to hold on for 200 pips, not sure what the RR is on that but its pretty good {image} {image}

Nice ! I saw that first little push down but, decided to watch it rather than trade it.
Quoting snarlyjack
{quote} Diamonddbw, Nice meeting you & welcome to Tms. What happened to me is: I traded the 5 method for a long time & I'm pretty good at it! The problem with it is you can get into counter trend trades very easily & start losing all your profits (especially when swing trading & position trading). One day a long time ago after I made a bunch of losing trades I went back to Dean Malone videos (Compass Fx) and tried to figure out why. I watched about 100 of his videos and kinda went hmmm... I saw how he was trading & why. I ended up tweaking the system...
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Thanks for the concise info. Will go back thru Oct 2014 to learn what I can.
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Quoting diamonddbw
{quote} ++++++++++++++++++++++++++++++++ ++++++++++++++++++++++++++++++++ Thanks for the concise info. Will go back thru Oct 2014 to learn what I can. {image}
That looks like my back yard !
Quoting emmanuel7788
GBPUSD and GBPJPY H1 trades 3 Feb. Trading with multiple entries on H1 for both pairs. GBPUSD market bounce from BRN 1.5000 all trades hit TP set at 1.5150. Total 288pips. {image} GBPJPY market bounce from BRN 176.00. Trades got hit by trailing stop. Total 212pips. {image}
Thank you Emmanuel for posting!

Can you explain on these 2 trades, it looks like you are first trading toward the daily open, then the PA moves through it and you are moving away from it. Or did you wait for price confirmation above the DO, then a pullback and enter from a lower TF? TDI and entry candle seem clear. There appear to be 2 doji candles the first with higher lows and highs, then with lower highs and lows just before your 1st entry candle. How do you use these clues in addition to the TDI and big blue candle to enter? Thanks in advance!
Quoting lastingwell
The minute I'd posted that and went back to my screen, it had reached 200 pips {image}
same indies different applications outstanding result Nice LW.
Appreciation is the key to wealth and happiness
EUR AUD killing me at moment was long from 4715 pin bar after tdi cross and rejection of prev res turned support, trendline and 62 fib and 4600 level , went straight against me will be stopped out tonight for bout -150
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Quoting streetcry
EUR AUD killing me at moment was long from 4715 pin bar after tdi cross and rejection of prev res turned support, trendline and 62 fib and 4600 level , went straight against me will be stopped out tonight for bout -150 {image}
It s pain. Not all pin bar will do the job, as LW mentioned it depends on location as well, from your chart I see 5MA too far from Guppy and TDI around 68 level (overbought), should expect a retracement/turn
Appreciation is the key to wealth and happiness
Quoting likica
neg news out of US which pushed my GA long getting PT +70 green, even though TDI angle was not beautiful but it bounced off S/R (200MA Guppy, DOL) and got TDI angleator all green with 10MA dashboard all blue and of course with the help from Cable rallied up. {image}
Hi there Likica with the wheelbarrow business,

Is your ADR with % and 1day 5 day, etc on the top of your chart an indi? That would be great to have. Thanks!
Quoting snarlyjack
{quote} Ycchong, Welcome to Tms... I basically started my trading profession here. Keep trading Tms...I have not blown an account yet using Tms & I've been trading it for a long time... Read & learn all the secrets to it... sj
SJ, thank you for your advice. Yes I will.

YC
Quoting fxray
GU trade today Clean cross daily open, TDI cross, MBL up, 4hr & 1hr guppies up. {image}
Hey FXRay! I was in that trade too, entered on the 4H at 2am PST. Looks like the 1H gave you a head start on me! 40pips in the hand is nice though.
Quoting rupasi
{quote} Thank you Emmanuel for posting! Can you explain on these 2 trades, it looks like you are first trading toward the daily open, then the PA moves through it and you are moving away from it. Or did you wait for price confirmation above the DO, then a pullback and enter from a lower TF? TDI and entry candle seem clear. There appear to be 2 doji candles the first with higher lows and highs, then with lower highs and lows just before your 1st entry candle. How do you use these clues in addition to the TDI and big blue candle to enter? Thanks in...
Hi rupasi,

You are looking more at the technicals and that is only 10% maybe even much lesser what trading is all about.

Those two trades were to show how having a proven money management strategy will help you make money in a small price swings under different market types.
Do you see the Strength, Weakness, Opportunities and Threats of those two trade setups and the market type?
Long term successful trading is to develop your own winning trading systems which fits you, - your personality, your temperament, your trading style, your financial position, etc.
A winning trading system can be broken down to:-
10% - the method, all the technical stuff on chart reading, analysis, proper use of technical indicators, price action skills, etc.
30% - is the money management strategy, choosing a proven money management strategy which matches the SWOT analysis.
60% - the mind, i.e. the mental fitness how the trader manages his/her psychology as a trader.
Doing your Big Picture Plan and having a trade plan after having done your SWOT analysis of your charts and deciding the money management strategy to adopt for the setups you see will determine your long term survival in this brutal spot forex market.
If you chose a currency pair which has a 20-days trading average of 210 pips and expect to hit a 200pips trade in one day, you are picking tops and bottoms and when you do that you are relying more on luck rather than your skills. When you rely on luck, it is very hard to make a supplement income to your day job and especially not possible if you want to trade for a living. When you want to make those pips, you can use multiple entries and doing it with a small initial risk will give you a healthy reward to risk for your trades. You can make 200pips in a price swing of 120pips.

We need to think outside the box. If you think only about the 5-Method, you will remain in the box.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
Quoting nods80
{quote} Thanks Emmanuel, I learnt the same acronym on a Business Analysis course and is the back bone of many companies.
Hi nod,

That's very good. Apply what you learn in business school and manage your business well. You know SWOT and apply the right strategy and you will succeed in this business.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
Quoting Shadownet
{quote} Hello Emmanuel. I really like the H4 High and Low indicator from your charts. But when I tried it I kept getting incessant alerts that the Trial has expired and the indicator does not show up on the chart? I appreciate your help. Thank you.

Hi Shadownet,

OK. Sorry, I forgot that version was a test one with expiry test date.

I will post a new H4 Hi-Lo version when I get back to my PC later. Kind of busy with guests from the big city dropping by yesterday for a nice surprise visit.

Trade Well.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
Quoting emmanuel7788
GBPJPY D1 chart: Four weeks back, some of us were discussing GJ and we saw an extended CD leg completion and now after many days, this pairs is still trading within the high-low of the W1 Mother Bar of the Inside Bar of 18 Jan week. For those Elliot Wave traders, it now looks like there are 5-waves pattern after the ABCDext completion. Question is what was the primary trend we should be considering for the 5-Waves trading going forward from here? Are we in a Bull or Bear market? See below: {image} {image}

GBPJPY D chart trading 5Feb.

Yesterda was a 'teaser' therefore no selling today if your are a position trader.

Waiting ....
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
Quoting snarlyjack
{quote} Blueseahorse, I know Rj. Rj is a great trader & I also traded Genesis. The 5 minute time frame was a tuff schedule for me living where I do. But I wanted to say that Tms works very good on the 4 hour charts. I have the same schedule that Eelfranz had. Read, read, read, practice, practice, practice. Welcome... sj
thnaks SJ. i will take time to review the past posts and use back and foarward testing to get invovled into the system. i am expecting to have a promising result here. green pips to you!
patience is a virtue
Quoting emmanuel7788
{quote} Hi rupasi, You are looking more at the technicals and that is only 10% maybe even much lesser what trading is all about. Those two trades were to show how having a proven money management strategy will help you make money in a small price swings under different market types. Do you see the Strength, Weakness, Opportunities and Threats of those two trade setups and the market type? Long term successful trading is to develop your own winning trading systems which fits you, - your personality, your temperament, your trading style, your financial...
Thank you! It makes sense. The question came about in an effort to better understand MC, IB, etc as it seems very helpful. Have fun with your out of town guests!
Quoting emmanuel7788
{quote} Hi Shadownet, OK. Sorry, I forgot that version was a test one with expiry test date. I will post a new H4 Hi-Lo version when I get back to my PC later. Kind of busy with guests from the big city dropping by yesterday for a nice surprise visit. Trade Well. regards,
Take your time Emmanuel. I am just catching up and finished reading the last 20 pages of this thread. Phew, that was a lot of new posts within just a few days. Do you guys have a notifications system for new posts or just check the thread regularly? I'd love to be trading and discuss together on potential trades during London Session.

Thank you for everyone's time.
Quoting Shadownet
{quote} Take your time Emmanuel. I am just catching up and finished reading the last 20 pages of this thread. Phew, that was a lot of new posts within just a few days. Do you guys have a notifications system for new posts or just check the thread regularly? I'd love to be trading and discuss together on potential trades during London Session. Thank you for everyone's time.
Hi Shadownet, clik on subscribe button on top right of the thread for new posts.

Quoting rupasi
{quote} Hi there Likica with the wheelbarrow business, Is your ADR with % and 1day 5 day, etc on the top of your chart an indi? That would be great to have. Thanks!
You need a new wheelbarrow too? The indie is ADR_v2 from paper clip on top right of this thread
Appreciation is the key to wealth and happiness
Quoting likica
{quote} Hi Shadownet, clik on subscribe button on top right of the thread for new posts. {quote} You need a new wheelbarrow too? The indie is ADR_v2 from paper clip on top right of this thread
Pretty soon! Do I get to choose my color? I want it green! Thanks for the indi.
Quoting ZeF
{quote}
I guess Zef you have never been trained or work in a prop house or a prop function in a Bank or investment Bank.
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