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Monitor for 'Trading Made Simple' system 565 replies

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

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Trading Made Simple

  • #58,561
  • Jul 3, 2015 1:38am Jul 3, 2015 1:38am
Quoting hsn100
{quote} Hi dewdrops! What version of Synergy pac are u using? I've tried many a times but the APB arrows are not loading on my chart, the other synergy programs worked well, don't getting it why only synergy APB arrows are not working? regards,
Indicators are attached. I didn't have any issues.
Attached File(s)
File Type: ex4 Synergy_Pro_APB_Arrows.ex4   17 KB | 461 downloads
File Type: ex4 Synergy_Pro_APB_Arrows_notif.ex4   17 KB | 444 downloads
  • #58,562
  • Jul 3, 2015 4:46am Jul 3, 2015 4:46am
Quoting omonisha
{quote} Here i am in AUDJPY-D1. Almost same situation. We pick the one has more probability {image}
Update AUDJPY-D1- Banked maximum now moving TP little by little
Attached Image (click to enlarge)
Click to Enlarge Name: 2015-07-03_15-40-56AUDJPY-D1.png Size: 35 KB
Sad i'm not trying to understand PA
  • #58,563
  • Jul 3, 2015 5:01am Jul 3, 2015 5:01am
I could not find any good trade setup for the week and therefore i did not trade. Hopefully next week will have some nice setup for me to trade.
  • #58,564
  • Jul 3, 2015 5:04am Jul 3, 2015 5:04am
Quoting dreammore
I could not find any good trade setup for the week and therefore i did not trade. Hopefully next week will have some nice setup for me to trade.
You do right , if you donīt like the setup , donīt trade it . congrats !
I needed about 6 months to find this out when I started trading
Guido
Risiko birgt immer auch die Chance.
  • #58,565
  • Jul 3, 2015 5:19am Jul 3, 2015 5:19am
After time of trading here is my first trade in a while for 50 pips
Attached Image (click to enlarge)
Click to Enlarge Name: Screen Shot 2015-07-03 at 11.15.50.png Size: 504 KB
  • #58,566
  • Jul 3, 2015 8:17am Jul 3, 2015 8:17am
Last trade (fun trade) for the Aud/Usd and for me , for mutch time ,,, tomorrow i'll go in other city without nothing and i dont' know if my friend have internet .

Good luck all , i had good time to read this and other 3d.. You are fantastic peoples... see you .
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 239 KB
  • #58,567
  • Jul 3, 2015 8:36am Jul 3, 2015 8:36am
Quoting emmanuel7788
{quote} Your were wrong in Big Boss and Boss. Don't use these terms in TMS. You need to define what is your Primary Trend, your Intermediate Trend and Secondary Trend. Since we have a new month, start lookig at MN chart. what is the trend? Then move down to the Weekly, is the Weekly in agreement with the Monthly? Then next down to the Daily, what do you see when today market session open? Where is your neareast support and resistance? previous day Open, High, Low and Close OHLC. Are we near to a BRN? yes, there is 1.5600. What happens at BRN? are...
Big Emm.. you treat the candle as D WRB simply because it has the widest range of the last 3-5 candles? The criteria for WRB is always the 3-5 candles is it?

The links you shared are a gold mine.. did go through it but i guess without practice i get rusty..

Zz
  • #58,568
  • Jul 3, 2015 8:53am Jul 3, 2015 8:53am
Guys!!

A note of caution. Greek referendum this weekend. Do NOT have any trades open over the weekend as the gap (outcome of the referendum) might have you seeing big losses if you are on the wrong side.

Cheers!
Zz
  • #58,569
  • Jul 3, 2015 9:15am Jul 3, 2015 9:15am
Quoting GrantMcscott
After time of trading here is my first trade in a while for 50 pips {image}
Nice catch Grant!

Very nice, clean chart as well!

Keep it up!
Focus on the process and the profits will follow
  • #58,570
  • Jul 3, 2015 11:09am Jul 3, 2015 11:09am
About money management, we always say that never risk more than 2% per trade.
How about if we have 3 open trades? does it mean that 2% per trade * 3 = 6% risk or 0.67% per trade * 3 = 2% risk?
  • #58,571
  • Jul 3, 2015 11:49am Jul 3, 2015 11:49am
Dear Balut,
I'm not a senior trader so I only give you my humble opinion. Hopefully a senior member could correct or complete my answer.

Normally when we talk about 2%, it is 2% per trade.

But you're right, we have to take into consideration the global risk and fix a limit not to exceed it.

So when you want to open a new trade and you've already got other trades opened, you could decide not to open it, to close one previous trade because it does not look anymore promising, to move the SL at BE so you could control your global risk.

I hope it helps.


Quoting balut
About money management, we always say that never risk more than 2% per trade. How about if we have 3 open trades? does it mean that 2% per trade * 3 = 6% risk or 0.67% per trade * 3 = 2% risk?
  • #58,572
  • Jul 3, 2015 11:51am Jul 3, 2015 11:51am
hi all
Just joined the forum. I saw this thread few days back. I started trading in demo account. I won a couple of traded. The system is very simple and requires less time. It is best for ppl having full time jobs. I lost one trade In Eurtry currency pair. I entered in 2nd candle few hours back. I bought it at 2nd candle. But not in the begining of the candle. After 2hrs the tdi started moving side ways ie like flat line. I closed my position immediately with loss.

I was just thinking what mistake I made. I could not take screen shot of my chart or trade. I'm typing from mobile. I was thinking maybe I should have used pending order and entered at a lower price. My tp is always minimum ie 80 points. I thought it will easily hit 80 points.

So my question to the senior ppl is whether pending order is better? It is difficult to enter the market in the start of the candle.
  • #58,573
  • Jul 3, 2015 2:27pm Jul 3, 2015 2:27pm
Quoting GrantMcscott
After time of trading here is my first trade in a while for 50 pips {image}
Did you wait for the first candle to close or entered right after the news release and spike (right when green crossed red)?
  • #58,574
  • Jul 3, 2015 7:16pm Jul 3, 2015 7:16pm
Quoting omonisha
{quote} Great EMU. i am thinking of it may run at least 1.46200

we are trading in the range of a D WRB and the WRB High is resistance, but I target the last swing high on H4. Got my 190pips.

Attached Image (click to enlarge)
Click to Enlarge Name: EURAUD 2 July H4 BUEB trade closed.png Size: 39 KB


Attached Image (click to enlarge)
Click to Enlarge Name: EURAUD 2 July H4 BUEB setup.png Size: 35 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #58,575
  • Jul 3, 2015 8:00pm Jul 3, 2015 8:00pm
Quoting emmanuel7788
{quote} we are trading in the range of a D WRB and the WRB High is resistance, but I target the last swing high on H4. Got my 190pips. {image} {image}
Hi Emmanuel

Did you open this trade before news or you opened after AU Retail news.

Thanks
  • #58,576
  • Jul 3, 2015 8:12pm Jul 3, 2015 8:12pm
Quoting mkfx
{quote} Hi Emmanuel Did you open this trade before news or you opened after AU Retail news. Thanks

mkfx,

this is H4 trading, it was on 2 July, the AU retail news was on 3 July, right?
I was in on 2 July , protected above EP before the news.

anyway, whatever news there is, the market follow the longer term 'trend' or direction.
it is the intraday traders that will get hit often when they trade with small stops.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #58,577
  • Jul 3, 2015 8:21pm Jul 3, 2015 8:21pm
Quoting iyerkedar
hi all Just joined the forum. I saw this thread few days back. I started trading in demo account. I won a couple of traded. The system is very simple and requires less time. It is best for ppl having full time jobs. I lost one trade In Eurtry currency pair. I entered in 2nd candle few hours back. I bought it at 2nd candle. But not in the begining of the candle. After 2hrs the tdi started moving side ways ie like flat line. I closed my position immediately with loss. I was just thinking what mistake I made. I could not take screen shot of my chart...

Hi, WELCOME!

good place to start reading is : Introduction to Trading Made Simple Post#57,857

To get a good 'entry price', you must work on using both market order and limit orders. This way will get you a better average entry price into the market.
But you skills to do this. It will take time to learn, then lots of real-time practice in live market to make it near perfect.

Have fun learning to trade. and trade with TMS 5-Method.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #58,578
  • Jul 3, 2015 8:32pm Jul 3, 2015 8:32pm
Quoting balut
About money management, we always say that never risk more than 2% per trade. How about if we have 3 open trades? does it mean that 2% per trade * 3 = 6% risk or 0.67% per trade * 3 = 2% risk?

Hi balut,

I use 0.2% risk per trade. in one basket per currency pair.
For each currency pair on my watch-list, I would risk 1% to 2% maximum.

I can have up to maximum 5 currency pairs open at any one time ( during a 20 trading days cycle). That mean a maximum risk 10% for all 5 pairs.
I manage my drawdown very closely and will cut loss if there is a 10% drawdown although I set a 20% drawdown limit. Recovery from drawdown is very difficult for most traders.
When we trade multiple pairs at the same time, it is advisable not to open new basket when the open basket are in negative.
Also, you must be aware of the currency pairs correlation when you trade multiple pairs. If one goes wrong, its cousin pairs will most likely follow. Nothing to do with % risk but overall consideration we trade longer term.


regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #58,579
  • Jul 3, 2015 8:47pm Jul 3, 2015 8:47pm
Only three trades during week as I was enjoying the Thurs and Fri in Mountain resort with family.

Two winners
one BE

Monday: Open the chart at LO but wasn't sure if PA will break the Daily resistance and 200EMA. So decided to wait until it is clear. Enter during NYO after price broke through 200EMA. Decided to exit at next candle with 40 pips profit. should have stay in the trade as my SL was at break even and no red candles yet. Here I need to learn more patience.

Tues: Open the chart at Asian to see the overall market. The price tried to break yesterday high and rejected created DT. The TDI was coming out of OB crossing red. Entered at second candle (didn't count the two small body red candles) and Profit was exactly at 200EMA. +75 pips.

Wed: Again in Asian, Market made LH after bounce from TL. Entered short; however as soon as I entered realized that it is a mistake as 800EMA and Daily support/BRN right ahead. Closed trade manually at BE after long pullback.

Thurs and Fri: They were both very easy days. Too bad I was away spending money instead of making some
Both days market was clearly making HL/HH and TDI was in sync so $$$$.
Attached Image (click to enlarge)
Click to Enlarge Name: 2015-07-03 21_16_50-EURAUD,H1.png Size: 43 KB
  • #58,580
  • Jul 3, 2015 10:02pm Jul 3, 2015 10:02pm
Quoting emmanuel7788
{quote} we are trading in the range of a D WRB and the WRB High is resistance, but I target the last swing high on H4. Got my 190pips. {image} {image}
Hi emmanuel7788!

  1. Which EMA u reckon good for 4 HTF, the traditional 5ema or 10ema, shift3, typical?

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