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Trading Made Simple

  • #57,581
  • Jun 3, 2015 7:32pm Jun 3, 2015 7:32pm
Quoting MoneyMikeFx
{quote} Thanks Emmanuel for the advise, but unfortunately it did not work still having the same issue...

Hi,

On, use this script.

Just drag and drop this script on to any chart and it will load the data history from your broker server.

be warned!

this script will cycle through every currency pair in you Market Watch window and load the price data from M1 to MN for every currency pair. This will take some time and better when you do this during the weekend when market is closed.
OR
you should save your trading chart Profile and make a new profile with just one blank chart and sit back and watch how it work. Do not interrupt MT4 when the scrip is running.


copy this script to your MT4 MQL4/Script folder....

regards,
Attached File(s)
File Type: ex4 LoadHistoryData (script).ex4   8 KB | 562 downloads
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #57,582
  • Jun 3, 2015 7:35pm Jun 3, 2015 7:35pm
Quoting Karado58
{quote} Sorry Emmanuel, didn't mean to pi$$ you off. Thank you for the reply. Karado

No worries. you did not pissed me off.
We are good...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #57,583
  • Jun 3, 2015 8:01pm Jun 3, 2015 8:01pm
Quoting emmanuel7788
{quote} Hi Fortunemaker, Sorry, I am busy this week and will reply your post 57,534 later. It will take time as I need to do the charts with explanation which I feel is important for trading the D1 chart. regards,
Hi Emmanuel 7788! Since i'm trading D charts and using the CM as per settings that u taught me, i will also looking forward to this post of yours that u r referring. Again thnx for ur precious time.

Regards,
Winners Never Quit, Quitters Never Win
  • #57,584
  • Jun 3, 2015 9:36pm Jun 3, 2015 9:36pm
Quoting emmanuel7788
{quote} Hi brek1 I will not buy when the price bar and APB are Red and also momentum shown by the TDI is negative. These trades were not TMS 5-Method trades. This one you got lucky. regards,
Hi emm,

thank you for correcting me, i will learn more and more to be better

maybe safer if i take trade at the next blue candle on that chart?
its corrent to TMS 5-method?
  • #57,585
  • Jun 4, 2015 3:02am Jun 4, 2015 3:02am
GBPJPY M15 scalping +29

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Click to Enlarge Name: OT.png Size: 41 KB


Hi Emm,

i just make right decision?
  • #57,586
  • Jun 4, 2015 3:06am Jun 4, 2015 3:06am
Quoting brekz1
GBPJPY M15 scalping +29 {image} Hi Emm, i just make right decision?
And I did same on ALL GBP/... currencies, if one works, the other pairs should too
  • #57,587
  • Jun 4, 2015 3:34am Jun 4, 2015 3:34am
E/N trade, LO+1. Weak TDI signal. Since strong uptrend relied purely on PA.
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Repetition is the Mother of Skill
  • #57,588
  • Jun 4, 2015 4:23am Jun 4, 2015 4:23am
Attached Image (click to enlarge)
Click to Enlarge Name: 04-jun-GBPUSD.png Size: 154 KB
  • #57,589
  • Jun 4, 2015 4:36am Jun 4, 2015 4:36am
Quoting bigcakex
{quote} Hi,Vnp， I found that GU is the only pair you trade.isn't it ? Regards.
I will try to give a more complete answer. GU has a small spread in relation to volatility (at least at my broker).
From the great masters of trading, I learned that at the beginning KISS - is "to know the character of one pair." Then add a few more, no more than six - seven. More impossible to monitor. All the best, my friend
  • #57,590
  • Jun 4, 2015 5:13am Jun 4, 2015 5:13am
Quoting emmanuel7788
{quote} Hi pips29, here is my chart with some notes on it. We need to wait for the 'low' to be confirm and to confirm the new trendy move otherwise the current trend is down and we face likely consolidation. {image} GBPUSD is wide ranging with trendy moves on D and we will find some good position trades for the next few months.
thanx Emmanuel, I see what you mean but I took the low to be the previous bar ,the high of which was broken by the next blue apb bueb
the cautious seldom err....C
  • #57,591
  • Jun 4, 2015 7:29am Jun 4, 2015 7:29am
Quoting emmanuel7788
{quote} Hi, I wonder why you chose EURGBP. It has the lowest trading range among but the $value per pip is good. {image} Best times to trade H1 is during the European session when Frankfurt open till London close. When the 3 Amigos (AU,EU and GU) are not riding in the same direction, it will be when this pair will move better. Re-creating the TDI using the RSI on your platform is good. The RSI is a realtime indicator and will update on every price tick hence you will not have any repaintng and lagging TDI as in some versions of the MT4 TDI. You...
Thanks for the reply ! This was way better than any feedback I had expected.

Some follow up questions

I found the site where u got the screenshot from and I should probably study this a bit more. So I'm assuming it's always better to trade pairs with the highest volatility (ATR) over the past week or two weeks or something? In addition, your looking for high pip values ?

What exactly do you mean by the sentence : "When the 3 Amigos (AU,EU and GU) are not riding in the same direction, it will be when this pair will move better." I don't fully understand this. I have decided, however, that I will look at more than two pairs. In addition I'm going to use the different time frames for different setups for now. Perhaps it's not the best way but it'll become clear hopefully what I really want to trade eventually

I also have some trade examples.

AUDNZD 21 pips (third picture)
GBPAUD 152 pips (second picture)
EURAUD 19 pips (first picture)

my apologies for the weird chart formats

Any feedback on these trades? Perhaps I closed my trade on GBPAUD early but there was news and I had some good profit so I put my stop under a swinglow and it got taken out. AUD news did help my trades there tho so perhaps i got a bit lucky...
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  • #57,592
  • Jun 4, 2015 9:28am Jun 4, 2015 9:28am
Quoting tibovwh
{quote} Thanks for the reply ! This was way better than any feedback I had expected. Some follow up questions I found the site where u got the screenshot from and I should probably study this a bit more. So I'm assuming it's always better to trade pairs with the highest volatility (ATR) over the past week or two weeks or something? In addition, your looking for high pip values ? What exactly do you mean by the sentence : "When the 3 Amigos (AU,EU and GU) are not riding in the same direction, it will be when this pair will move better." I don't...
My 2 cents ....
It is always better to trade pairs with higher ADR (above 100) as they will have more space to breathe in and breathe out ... Will reach 30/50/70 pips targets. If the ADR itself is 50 pips ... what will be your target?
EG (EurGbp) will move when EU and GU go in different direction ... when EU and GU move in the same direction (they do travel in the same direction, more often than not), EG does not move ...
Pip and Pip value are not you should be looking at ... Look at ROI ... How much are you making in terms of USD with relation to your equity ...
Hope it helps ... Till Emm is busy in the week end ...
  • #57,593
  • Jun 4, 2015 9:54am Jun 4, 2015 9:54am
Quoting adikashyap
{quote} My 2 cents .... It is always better to trade pairs with higher ADR (above 100) as they will have more space to breathe in and breathe out ...
Hi ad! Just one question: Does higher ADR above 100 hold true if I'm trading D Charts?

Regards,
Winners Never Quit, Quitters Never Win
  • #57,594
  • Jun 4, 2015 10:05am Jun 4, 2015 10:05am
Quoting hsn100
{quote} Hi ad! Just one question: Does higher ADR above 100 hold true if I'm trading D Charts? Regards,
Of course yes ... 100 ADR * 3 days (if you are keeping the trade for 3 days) ... 300 pips ... Again more space to breathe ...
But ... D trades will need / have more DD ... in 100's of pips .... can you digest it .... I CAN NOT .....
My maximum DD / SL is 50 pips .... I'm more comfy on 1H trades and adding positions on 4H if earlier trade is already running in profit (BE)
  • #57,595
  • Jun 4, 2015 10:05am Jun 4, 2015 10:05am
Quoting adikashyap
{quote} My 2 cents .... It is always better to trade pairs with higher ADR (above 100) as they will have more space to breathe in and breathe out ... Will reach 30/50/70 pips targets. If the ADR itself is 50 pips ... what will be your target? EG (EurGbp) will move when EU and GU go in different direction ... when EU and GU move in the same direction (they do travel in the same direction, more often than not), EG does not move ... Pip and Pip value are not you should be looking at ... Look at ROI ... How much are you making in terms of USD with relation...
Hey there and thank you for your reply !

I do understand what you're saying about EG. Anyway, I have decided to look at more than two pairs so I can really train my eyes on signals. Afterall it's still a demo account so it won't cost me much making mistakes.

Less clear is what you said about ROI. I do understand the concept of ROI but I'm not sure how this will help me in looking for good pairs to trade? Or do you mean I should report the outcomes of my trades in ROI instead of pips?

Finally, I made another trade right after the U.S. news block (2:30 CET). I saw a nice wage growth number and I looked through some USD pairs and found a signal on USD/JPY. The one hour chart candle hadn't closed yet but it was pointing in the right direction. The 4H chart was also lining up for a possible cross through red and had been ranging for a few candles since it touched 125 (highest level ever).

Is this a good entry signal?
During the ranging on 15M chart I was a bit confused. As i took the trade mainly on the 15M chart, the levelling off would imply a close of my position. However, I liked my other charts and how they were looking so I decided to move to BE and wait. How would you manage this trade best?


best,
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPY.png Size: 171 KB
  • #57,596
  • Jun 4, 2015 10:25am Jun 4, 2015 10:25am
Quoting tibovwh
{quote} Hey there and thank you for your reply ! I do understand what you're saying about EG. Anyway, I have decided to look at more than two pairs so I can really train my eyes on signals. Afterall it's still a demo account so it won't cost me much making mistakes. Less clear is what you said about ROI. I do understand the concept of ROI but I'm not sure how this will help me in looking for good pairs to trade? Or do you mean I should report the outcomes of my trades in ROI instead of pips? Finally, I made another trade right after the U.S. news...
Demo account .... Can you treat it like a live account? .... Will it hurt you if you loose 50 pips ... Will you party by making 30$? ....
Demo trading is one of the most exaggerated aspects of Pro trading ... Every one needs Demo ... Every one needs back testing ... But how much is too much?
Can you back test your money management? Can you demo your emotional discipline?
"Treat your demo account like a Live account, with same seriousness ... Treat your live account like a demo account, with the emotional detachment we always have with demo accounts" ... has been my Mantra ...
Trading is more about the Psyche of the trader than anything else ...
Strategy / FA / TA / EM / Indi ... are all tools to identify the I / Psyche of the trader ....
ROI ... If you were to choose a fund manager ... whom will you choose ... a trader with 100 pip SL and 100 Pip target or a person who adds position at every 50+ pips ... thereby making better profit with same pip 100 pip movement ?
Pips and ROI are a huge conflicting aspect and this thread might not be suitable to discus that ...
Wage growth number ... If I were to trade a trade with a USD NEWS I will go with EU and GU because of their higher ADR (compared to UJ) and as you rightly observed UJ is literally teasing the highest high ... BOJ indicated this level few months ago ....
Hope all this banter helps .....
  • #57,597
  • Jun 4, 2015 11:06am Jun 4, 2015 11:06am

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  • #57,598
  • Jun 4, 2015 11:06am Jun 4, 2015 11:06am
Quoting adikashyap
{quote} Demo account .... Can you treat it like a live account? .... Will it hurt you if you loose 50 pips ... Will you party by making 30$? .... Demo trading is one of the most exaggerated aspects of Pro trading ... Every one needs Demo ... Every one needs back testing ... But how much is too much? Can you back test your money management? Can you demo your emotional discipline? "Treat your demo account like a Live account, with same seriousness ... Treat your live account like a demo account, with the emotional detachment we always have with demo...
I agree with the demo aspects you are pointing out to. Ofcourse I hope to move to live trading soon but I want to be able to see some consistent results first. So for now, a demo will suffice for me I appreciate your mantra and I will try to keep this in mind!

I must admit that I lack some basic knowledge about pip values and such and about how certain pairs trade better than others. So this is certainly I should start reading up on. I agree that this thread is probably not the best place to elaborate further tho. If you think you know some great stuff to read about this then feel free to PM me and I'd love to check it out !

The USD/JPY trade was also based on a entry signal. I preferred the USD/JPY over EU and GU because they has already seen a few small trending candles and UJ was coming out of a range. I closed it for 37 pips profit. There is a nice new 4H candle tho but I don't think too much is going to happen before tomorrow's news. The angle on the 4H candle is also relatively flat. What do you think? Did I exit too soon or does this make sense?
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPY.png Size: 165 KB
  • #57,599
  • Jun 4, 2015 11:16am Jun 4, 2015 11:16am
Quoting Rajitomate
{image} {image}{image}{image}{image}{image}
that's some nice pips you got there

I thought I had a good day

Some quick questions (forgive me if you have answered these before):

I see you don't use a PAC or MA to confirm your signal. Is there any particular reason behind this? Do you think you loose too many pips waiting for it? I also assume you dont wait on the close of the 1H candle to get in?

best,
  • #57,600
  • Jun 4, 2015 11:54am Jun 4, 2015 11:54am
Quoting Vnp
{quote} I will try to give a more complete answer. GU has a small spread in relation to volatility (at least at my broker). From the great masters of trading, I learned that at the beginning KISS - is "to know the character of one pair." Then add a few more, no more than six - seven. More impossible to monitor. All the best, my friend
Hi,Vnp,
Thanks for your reply,i found that GU is a good pair to trade ,and i also pay a lot of attention on this pair ,
Here is my GU trades today. 4 trades.
Regards.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD H1 0604.png Size: 38 KB
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