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

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Trading Made Simple

  • #58,101
  • Jun 20, 2015 9:12am Jun 20, 2015 9:12am
Quoting emmanuel7788
{quote} .....If there are more interest here, I can post some trades live and let you all follow during the week and have more interactive discussions. have a good weekend.
Hi emmanauel7788! Will be a great learning experience. So, i'll b looking forward to your posts in coming days in this regard.

Regards,
Winners Never Quit, Quitters Never Win
  • #58,102
  • Jun 20, 2015 10:02am Jun 20, 2015 10:02am
Hi emmanuel7788! I've got the following ATR based indi here on FF. I've found it useful on D charts because when i installed, it clearly shows TS and SL on the chart. It's parameters can also be changed.

  1. What's your opinion about it?
  2. Can i use its parameters in my CM settings?

Regards,
(Note: I'll remove the attachment, once i've your opinion about it as it is related to MM and have nothing to do with 5 method)

Attached File(s)
File Type: ex4 ATR in SL-TP(1).ex4   10 KB | 455 downloads
Winners Never Quit, Quitters Never Win
  • #58,103
  • Jun 20, 2015 9:05pm Jun 20, 2015 9:05pm
Quoting emmanuel7788
{quote} Hi mazingaz, The Multiple Entries / Multiple Exist ME/ME will work in all timeframes too. But in lower TF like M15, it would require too much time in front of the computer to place add on positions. Big E traded multiple entries in M15 using the 21/233 method. I trade mostly H4 and D1 chart TF. On H4, I only need to check my trading charts 2 to 3 times during the day. On D1 chart, I check only once a day. The multiple entries are placed at certain pips distance (like a grid) base on price action and the ADR of the pair. We need to consider...
Hello Emmanuel, I think it would be awesome if you do that, it will be a great learning experience.
  • #58,104
  • Jun 21, 2015 12:26am Jun 21, 2015 12:26am
Quoting redfan
{image}1699502Traders I have put two moving averages on my chart. The orchid moving averages Line is 21 exponential close The yellow moving averages line is 4 exponential close What I have observed and tested is when the yellow line crosses The orchid line and the TDI crosses with in one candle, on the one hour it turns out to be a very good entry, I dismiss all other TDI crosses, I have check this out on the one hour chart 4 hour and monthly If you follow the yellow line you will see where they line up with the Tdi, I would be very happy to read...

This is great mate. How are you finding it so far? I've also sent you a PM asking if your two EMA's would do well for 5 and 15 minute charts
  • #58,105
  • Jun 21, 2015 1:24am Jun 21, 2015 1:24am
GA buy trade early Asian session (19-06-15)
Attached Image (click to enlarge)
Click to Enlarge Name: GA M30 190615 Buy trade.png Size: 98 KB


GJ Sell trade late NY session (19-06-15)
Attached Image (click to enlarge)
Click to Enlarge Name: GJ M30 sell trade 190615.png Size: 86 KB


Kindest Regards
  • #58,106
  • Jun 21, 2015 4:12am Jun 21, 2015 4:12am
Quoting MrAussieFX
GA buy trade early Asian session (19-06-15) {image} GJ Sell trade late NY session (19-06-15) {image} Kindest Regards
Can you let me know the reason you took profit on g/a so early leaving a lot behind and with g/y what is your r:r.Thanx
the cautious seldom err....C
  • #58,107
  • Jun 21, 2015 5:46am Jun 21, 2015 5:46am
Quoting Dimi.A
{quote} This is great mate. How are you finding it so far? I've also sent you a PM asking if your two EMA's would do well for 5 and 15 minute charts

I have only been back testing .what I have found it is a very good entry.
On 1hour 4 hour and monthly.
Ps. The time between entries can be up to 2 days or longer,
  • #58,108
  • Jun 21, 2015 5:49am Jun 21, 2015 5:49am
Quoting emmanuel7788
{quote} Hi nbfx, As promised I have closed my trading for this week and have time to reply you.
Thank you for the detailed repsonse.
  • #58,109
  • Jun 21, 2015 6:29am Jun 21, 2015 6:29am
Quoting emmanuel7788
{quote} If there are more interest here, I can post some trades live and let you all follow during the week and have more interactive discussions. have a good weekend.
That would be great Emmanuel! You're being so helpful!
Best regards
LS
  • #58,110
  • Jun 21, 2015 6:42am Jun 21, 2015 6:42am
Quoting brownboy
wow redfan nice strategy and simple ,can you do an indicator for that with signal to buy and sell to make it easier for our eyes Who will be kind enough to create sell and buy based on redfan indicator
I never thought about that,

But that’s a good idea.
I will asked someone if they can make one for me.
  • #58,111
  • Jun 21, 2015 9:33am Jun 21, 2015 9:33am
Quoting pips29
{quote} Can you let me know the reason you took profit on g/a so early leaving a lot behind and with g/y what is your r:r.Thanx
Hi Pips29,

I started using CM in my trading recently and thanks to @lookleft for posting the CM pdf here which I believe is giving new dimension to my trading. When I set my profits, I always look for potential recent confluence zones on the left of chart. Two reasons;

1. It gives you ball park idea where you can have your partial profits set using CM and PA has more probability to test those areas or zones.
2. It helps you in your capital protection which is the essential part of trading and CM can handle those PA spikes which are hard to manage manually.

Why I took early profits on GA and left so many pips on the table ?
The early profit part is explained above (see the chart below) and to answer the second part of your question, I have a full time job as I mentioned many times which restricts me trading LO session and I try to find setups when ever I have time to browse through my favorite pairs (EA and GJ).

Attached Image (click to enlarge)
Click to Enlarge Name: GA Profits expalined on M30.png Size: 122 KB


My main concern while trading is
1. Have I understood the TMS (TDI+PA) concept correctly before taking a potential trade setup.
2. Do I have a plan if the right setup occurs and if it fails, Do I have a counter plan (backup plan).
3. Do I have an understanding of previous S/R, structure, fib levels and any other factors that can help me targeting my profits and my SL.
4. Can I minimize my risk in shortest amount of time.

rather than how much I left on the table.

I am sure most of us here have problem in managing profits and don't know when to exit the trades (greed factor I might add). We must focus on consistent profits rather than targeting random 50 to 100 pips on M15 or M30 timeframes.

To answer your question regarding GJ trade;

I consider lot of things before I jump into any potential trade and those annotations and planning goes on different templates that are open on my MT4. As promised before it is confusing to the new members if different templates are shared on every post but I believe to answer your question I have to post this Guppy template which has my CM settings to give you an idea of my R:R on GJ M30.

GJ M30 sell trade on Guppy 38.2 fib retracement was the trade determining factor
Attached Image (click to enlarge)
Click to Enlarge Name: GJ Guppy explained.png Size: 1.5 MB


GJ M30 CM settings
Attached Image (click to enlarge)
Click to Enlarge Name: GJ CM settings.png Size: 1.3 MB


I manually closed this trade as it seem to go nowhere and it was late in here.

Who are you ?
Attached Image (click to enlarge)
Click to Enlarge Name: Different Trade Styles.png Size: 55 KB


P.S. last image snippet taken from Dean Malone's Synergy_pro pdf and credit to the image goes to the owner.

Kindest Regards
  • #58,112
  • Jun 21, 2015 10:42am Jun 21, 2015 10:42am
Quoting redfan
{image}1699502Traders I have put two moving averages on my chart. The orchid moving averages Line is 21 exponential close The yellow moving averages line is 4 exponential close What I have observed and tested is when the yellow line crosses The orchid line and the TDI crosses with in one candle, on the one hour it turns out to be a very good entry, I dismiss all other TDI crosses, I have check this out on the one hour chart 4 hour and monthly If you follow the yellow line you will see where they line up with the Tdi, I would be very happy to read...

Hello Redfan,
Nice setup you got there,
I really admire your style of trading,
Do you mind sharing your template and indicators,

Thank you very much.
Regards
Festus
Motivation is what gets you started. Habit is what keeps you going
  • #58,113
  • Jun 21, 2015 12:15pm Jun 21, 2015 12:15pm
thanx Aussie, I am just trying to understand the thinking behind those entries and exits. From what I gather you don't rely on pa but more indicator-dependent. I trust pa rather than any indicator that's in the market. If it works for you that's fine.It just pain me to see so many pips left on the table. I saw the trades were taken on the 30 min. and as such thought you were monitoring them. I have no idea you are working f/t and doing 30 min. trades...a big no no for me. As concerned who am I , I am just one of the millions of ordinary guys who is trying to steal a few pips here and there from the Big Boys. Happy pipping
the cautious seldom err....C
  • #58,114
  • Jun 21, 2015 4:03pm Jun 21, 2015 4:03pm
2015 Week 25 - Trade Summary:

2 trades in total:
- 1 Win
- 0 BE
- 1 Loss

Some technical issues with my platform meant only two trades this week. For some reason, following Tuesdays trade, my charts froze and I couldn't get connected to the server. Having reinstalled everything over the weekend, it looks to be working again... just hope it lasts. Anyway, some good moves on this pair during London this week. The High or low of the session was set by the LO candle on 3 days this week, and LO+1 on the remaining 2 days. One small loss on Monday followed by a win on Tuesday left me with +4% on the account this week.

Monday: Price had been moving sideways since the weeks open with all three TDI lines hovering around the 50 level. FO formed a pin bar and LO formed a blue setup candle. I entered a standard TMS entry at LO+1 with a break above the Asian session, assuming that the LO candle had now set the low for the session. However, this was a classic LO fake-out and price instantly reversed stopping me out for a loss. There was then a bearish TMS setup at LO+3 which would have been a nice trade however, I tend to stick to one trade per day, particularly in this case, since I'd already taken a loss and since it was Monday which can cause price to be unpredictable. (-25,-2%)

Tuesday: Got to my charts at FO to watch FO play out and create a large bullish move. After such a strong move, price was almost stood still as we entered LO. LO printed a slightly HH which is perfectly normal following such a strong move but ultimately I was looking for a reversal during the profit-taking at the end of the Tokyo session. LO+1 printed a large bearish pullback candle (setup candle) and I entered as soon as price broke below this. TDI green clearly crossed below red, at a steep angle with plenty of room to drop. Price had to fall through the 200EMA but it hadn't struggled on Monday and today was the same. (+150, +6%)

Wednesday: Tried to open my charts at LO but a technical issue stopped me accessing my platform. Strong setup at LO which I know a few in this thread caught. Price had now closed well above the 200EMA. FO formed a large BUOB engulfing the previous three candles (this is where OHLC candles are useful as APB's mask this PA.) The strong FO candle also caused a nice TDI bounce with green kicking away from red signalling price would continue upwards. Entry at LO was good for +50 but fell a few pips short of the +100

Thursday: Some really nice PA leading into this session. I don't often trade using divergence but this was hard to miss. Combined with an obvious double-top prior to Frankfurt, the bias for the day was clearly bearish. Classic TMS entry was at FO but even LO was good for 100 pips.

Friday: A fairly flat day as is common on Fridays. Immediate, classic TMS entry at LO (without waiting for a break of FO) would have been good for +50 but trading into the 200EMA on a Friday with very little news scheduled is risky. Certainly not a trade that I would have taken.

A quiet week but back in the green again which is nice. Hopefully I've got everything setup correctly now and I get a little more opportunity to trade this time round.

All the best for the coming week guys!

Ballistical
Attached Image (click to enlarge)
Click to Enlarge Name: Screen Shot 2015-06-21 at 21.24.12.png Size: 81 KB
Focus on the process and the profits will follow
  • #58,115
  • Jun 21, 2015 7:51pm Jun 21, 2015 7:51pm
Hi all , i', newer of this beutiful method .
I cant' write more becouse it isn't my lenguage but the chart can speach for me :-).
My first trade (demo) on Eur/Aud H4 and the weekly is in up trend.
Sorry if i wrong , it's only for understand if i get a correct trade .
Ps: my exit are on weekly chart , and SL on 5m chart
Attached Image (click to enlarge)
Click to Enlarge Name: euraud-h4-activtrades-plc.png Size: 46 KB
  • #58,116
  • Jun 21, 2015 8:13pm Jun 21, 2015 8:13pm
Week 26 - 21 to 26 June.

It's a new week so we start by looking at the Weekly charts.
I see many bullish previous candles. Will be looking to buy low on H4.
USD remains weaker, XAU is ranging but to the bullish side.

Good Trading Folks!
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #58,117
  • Jun 21, 2015 8:20pm Jun 21, 2015 8:20pm
Quoting Ballistical
2015 Week 25 - Trade Summary: 2 trades in total: - 1 Win - 0 BE - 1 Loss Some technical issues with my platform meant only two trades this week. For some reason, following Tuesdays trade, my charts froze and I couldn't get connected to the server. Having reinstalled everything over the weekend, it looks to be working again... just hope it lasts. Anyway, some good moves on this pair during London this week. The High or low of the session was set by the LO candle on 3 days this week, and LO+1 on the remaining 2 days. One small loss on Monday followed...

Monday's trade:
When what you see is no longer true, you can do the turn around... recovery trade!
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #58,118
  • Jun 21, 2015 8:45pm Jun 21, 2015 8:45pm
Quoting LvCa
Hi all , i', newer of this beutiful method . I cant' write more becouse it isn't my lenguage but the chart can speach for me :-). My first trade (demo) on Eur/Aud H4 and the weekly is in up trend. Sorry if i wrong , it's only for understand if i get a correct trade . Ps: my exit are on weekly chart , and SL on 5m chart {image}

Hi LvCa,

I can understand all that you wrote and the chart is our common language.

Few things I see on your charts:
1) there is a weekend gap , last Friday close and NY Sunday open. Market will often cover the gap.
2) D chart show a wide range bar WRB, and market is sideways in a range of about 220 pips.
3) technical stop loss is bes below last week low.

I have buy positions and will build up when price retraces lower to get a better overall average entry price

manage well.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #58,119
  • Jun 21, 2015 9:00pm Jun 21, 2015 9:00pm
many thanks emmanuel , your (helps?) are so precious for me.
Ps: for the gap.. i took the entry after that the price covered the gap.
Ps: i read one your post whre there are the links for the newer (it's a grat job emmanule) ; e read it in 3 days , and i want read all 3d (if i can) and now I am ''only at pag100 :-) .. it's so beutiful.
Thank for all
  • #58,120
  • Jun 21, 2015 11:42pm Jun 21, 2015 11:42pm
Trade Plan week 26:
EURAUD 4H Swing Trading with Multiple Entries / Multiple Exits.

Market type : Sideways Ranging. Weekly WRB with potential breakout of the WRB high.

Attached Image (click to enlarge)
Click to Enlarge Name: EURAUD week 26 H4 MEME trades.png Size: 135 KB


For those interested to learn and follow, please post your questions and only trade on demo as forward testing.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
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