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Trading Made Simple

  • #58,661
  • Jul 9, 2015 8:01am Jul 9, 2015 8:01am
Quoting Donquixote
{image} -6 pips i thought that candle(circled) is a signal for reversal (long upper wick) and i have tdi cross , closed on -6 cuz like everybody , i hate when win trade turn to bad trade maybe that master candle line is blocking the price

you see that Master Candle [3] on H4 on your chart.
rule says no trading when the PA is withing the high-low of the MC[3} on that chart TF.
If you had gone done to M15 or H1, you will easily see a sell setup using the H4 MC[3] high as the resistance.

did you trade with your 'third eye' closed?
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #58,662
  • Jul 9, 2015 9:02am Jul 9, 2015 9:02am
i tried doing what you said but i was a little bit confused for which indicators to post and how to follow them
  • #58,663
  • Jul 9, 2015 9:10am Jul 9, 2015 9:10am
Took this trade way before my regular timings, since am on holidays and the time zone here allows me to trade Asian Session , reversal on GJ was due to correction and I took it as soon as I saw a nice TDI cross

Trade was taken on retracement back to ema 10 on m15 with target on yesterday impulse leg 50 % Fibonacci

+185 pips
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYH1.png Size: 42 KB
I Have Learned to Take Some Losses to Make Profits
  • #58,664
  • Jul 9, 2015 9:55am Jul 9, 2015 9:55am
Quoting Donquixote
{quote} now i feel sorry for closing it to soon {image}
Ohh man, I feel sorry too for that, and also how straw hat defeated you.
  • #58,665
  • Jul 9, 2015 10:13am Jul 9, 2015 10:13am
Quoting TheScorpS
Took this trade way before my regular timings, since am on holidays and the time zone here allows me to trade Asian Session , reversal on GJ was due to correction and I took it as soon as I saw a nice TDI cross Trade was taken on retracement back to ema 10 on m15 with target on yesterday impulse leg 50 % Fibonacci +185 pips {image}
  • #58,666
  • Jul 9, 2015 10:49am Jul 9, 2015 10:49am
Quoting emmanuel7788
It is so boring when you guys are posting only winning trades. No one talk about other aspects of trading like money management, risk management, managing your trading psychology when you are trading, what you do when you have losses, etc. And how about showing your equity growth graphs? your win rates, etc.
Exactly

  • #58,667
  • Jul 9, 2015 7:07pm Jul 9, 2015 7:07pm
Quoting emmanuel7788
{quote} USDCAD D1 chart update 9 July: {image} We have a consolidation day yesterday with that D Inside Bar closed. trading range gets narrow as it approach those swing levels as resistance. Weekly remain bullish and market sentiments favors the USD being the safe haven currency. With that 7Jul WRB, we use that WRB high-low as our range and the WRB high is resistance until there is breakout. Trading in lower timeframe H1 and M15 is best in both directions when market is in consolidation. Remember buy at support and sell at resistance. Profit Target...

USDCAD D1 chart update 10 Jul:

We have a first bearish D candle closed but the PA is still within the high-low of the 7July WRB..... ranging market now until we see the breakout. No sign of bearish reversal.
Best to trade M15 and H1 within the high-low of that WRB.

Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD week 28 D1 chart update 10 Jul.png Size: 66 KB


Trade Well.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #58,668
  • Jul 9, 2015 7:21pm Jul 9, 2015 7:21pm
Quoting Donquixote
{quote} now i feel sorry for closing it to soon {image}

Hi Don,

charts below,hopefully we learn something from these.

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD D1 chart WRB range 10 Jul.png Size: 42 KB


Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD M15 chart H4 WRB high low.png Size: 54 KB


always do your Big Picture and be prepared for trading.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #58,669
  • Edited 8:14pm Jul 9, 2015 7:45pm | Edited 8:14pm
Quoting mkfx
{quote} Hi Emmanuel Thanks for asking us to participate in other important aspects of trading as well. In my view MM is top most area of trading and we should have prefect. I have question what should be the ideal % risk per trade and % of total open trades at any point of time, for a beginner when you have 2:1 win/ loss ratio , where RR is 1:1. Thanks MK
Hi MK,

Not easy to answer this thoroughly in a restricted forum like this. There are many topics and also wider topics to cover in order to be have a complete lesson.
Most forex schools, coaches, books, etc. will teach people to risk 1% to maximum 3% per trade. Very few actually teach how to make money work for us. It is easy to say but very hard to do for forex traders.
I did system development years ago and from it I know my own trading systems and most important is the expectancy of each system. All three systems are based on the same trading methodology i.e. this 5-Method which we call TMS. I know every time I pull the trigger that the probability of my trades hitting the expectancy is very high. It took years to reach such conclusion.
I trade the higher timeframes H4 and Daily a lot better than my intraday on H1 charts. using Multiple Entries and Multiple Exits - combination of position building, scaling-in and scaling out help me achieve my financial goal easier with SMART objectives. using ME/ME strategy, I risk 1% to 2% for each currency pair and I don't jump into the market at full risk. Each entry is 0.2% and I build up a basket of trades slowly as the market moves. Doing it this was, I am able to follow the rhythm of the market movement. There will be times when I do have some losses when a basket goes bad. But there is recovery process which is part of my system.
Below is example of my how my ME/ME trades when closing as of end of 9 Jul. I am off to a weekend retreat summit for traders.

Attached Image (click to enlarge)
Click to Enlarge Name: TMS ME_ME trades Jul 9 closing.png Size: 78 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #58,670
  • Jul 9, 2015 8:13pm Jul 9, 2015 8:13pm
On GN, it has turned bearish and I am looking to short that with a PA on H1.


I started to take very very few trades now that I am on D1. Not much of consistent results but at least my losses don't sink further now. However, I am losing the perseverance to see through this journey and believe in myself that this will succeed....

I am truly exasperated.....
  • #58,671
  • Jul 9, 2015 8:17pm Jul 9, 2015 8:17pm
Quoting birdnest
On GN, it has turned bearish and I am looking to short that with a PA on H1. I started to take very very few trades now that I am on D1. Not much of consistent results but at least my losses don't sink further now. However, I am losing the perseverance to see through this journey and believe in myself that this will succeed.... I am truly exasperated.....

Take a break and clear your mind.
Its winter time DownUnder I don't like it when its cold outside, go to some place warmer...

GN end of bull run... maybe some RedBull will help it.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #58,672
  • Jul 9, 2015 11:59pm Jul 9, 2015 11:59pm
Quoting emmanuel7788
It is so boring when you guys are posting only winning trades. No one talk about other aspects of trading like money management, risk management, managing your trading psychology when you are trading, what you do when you have losses, etc. And how about showing your equity growth graphs? your win rates, etc.
Start my self!
the loser and the winner !
3 trades yesterday
2 winner
1 looser

My tp s and stops are not fix and round number. according to supp and res, are differ from 20 to 35
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EURJPY#M30.png Size: 57 KB
Click to Enlarge Name: EURNZD#M30.png Size: 52 KB
Click to Enlarge Name: EURUSD#H1.png Size: 54 KB
  • #58,673
  • Jul 10, 2015 2:09am Jul 10, 2015 2:09am
Quoting TheScorpS
Took this trade way before my regular timings, since am on holidays and the time zone here allows me to trade Asian Session , reversal on GJ was due to correction and I took it as soon as I saw a nice TDI cross Trade was taken on retracement back to ema 10 on m15 with target on yesterday impulse leg 50 % Fibonacci +185 pips {image}
good trade
-one question how do you know theres going to be retracement?

Quoting emmanuel7788
{quote} Hi Don, charts below,hopefully we learn something from these. {image} {image} always do your Big Picture and be prepared for trading.
i just know that master candle work on m15 too i was thinking that when master candle appear in h4 we trade on m15 , and when it appear on d1 we trade in h4 or h1 and about WRB ( sometimes i dont see it , dont have keen eyes ) thats why im training it these day anyway just realised that 10 ema is so helpfull thanks big emm for this and that


Quoting elfanta
{quote} Ohh man, I feel sorry too for that, and also how straw hat defeated you.
do you mean hes going to deafeat doflamingo right?
i check the movie its not released yet (straw hat defeat him) , any way i like how this doflamingo guy smile and voice and his appearance too
Take What You Can , Give Nothing Back
  • #58,674
  • Jul 10, 2015 2:15am Jul 10, 2015 2:15am
anyone can explain why this is trade is lose?

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDH1.png Size: 61 KB
  • #58,675
  • Jul 10, 2015 2:39am Jul 10, 2015 2:39am
Hi,

Yesterday we were talking about some thing addition to win trade pics. I am day trader following TMS on 15, 30, 60min TF. some time quick pips on news (AU,ND and JPY) related in Asian session. Because to make pips we need volatility and which comes immediately after the news and I trying to get some pips after that but wait for TMS setup.

summary of my trades today so far (lot size is 0.10 ( 10K). I am facing problem of overtrading and big drawdown , so today trying to keep control over emotions. But still closing trades too early.
Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 40 KB
  • #58,676
  • Jul 10, 2015 2:48am Jul 10, 2015 2:48am
Quoting brekz1
anyone can explain why this is trade is lose? {image}
Hi Brekz,
About the time your trade turned against you the Greeks announced that they had got a plan they had given to the Eurozone.
Monday could also be messy as the big debt meeting with the Euro leaders is Sunday evening (Europe time)
Never argue with a fool; onlookers may not be able to tell the difference.
  • #58,677
  • Jul 10, 2015 2:58am Jul 10, 2015 2:58am
Hi Emmenuel,

I ma facing a trading physiology issue. I need your help, how to develop a habit to stay long in at least profit trades. I am scared of LO reversal, and if I am in profit I do not want to give back or I keep my TP 20 instead of 50 if LO time is approaching. Any setup after close of LO candle I am comfortable to keep TP 40-50. Because of early close and re-entry my number of trades also increase, which also I want to reduce .

To day after the FO I was long in EA, GA and GCAD all I closed too early at resistance immediately after LO and all went to 50+.

Frankly. I do not any top down analysis , I just look HTF TDI (1hr, 4hr and daily TDI NOT PA) may this is the reason that why I am scared of reversal)

So I do not know how to overcome this problem.

Thanks for help

MKFX
Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 51 KB
  • #58,678
  • Jul 10, 2015 3:19am Jul 10, 2015 3:19am
  •  313
  • | Joined Jun 2015 | Status: Strive and Overcome! | 46 Posts
Quoting mkfx
Hi, Yesterday we were talking....
Hey man how did you get those drawdown? already tried the myfxbook but i dont like it. im looking for simple plain just like your screen shot..
  • #58,679
  • Jul 10, 2015 3:27am Jul 10, 2015 3:27am
Hi Folks

I start with this Strategy one week ago.....it looks easy but i have to learn.
Here 2 Trades from Today. EUR/GBP Winner and EUR/USD is a looser.....

Attached Image (click to enlarge)
Click to Enlarge Name: eurgbp12.jpg Size: 155 KB
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.jpg Size: 137 KB
mia san mia since 1900
  • #58,680
  • Jul 10, 2015 3:46am Jul 10, 2015 3:46am
Quoting 313
{quote} Hey man how did you get those drawdown? already tried the myfxbook but i dont like it. im looking for simple plain just like your screen shot..
Save account history from Mt4 and opened that file in the bottom you will find that graph.

Thanks
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