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Trading Made Simple

  • #58,941
  • Jul 19, 2015 7:52pm Jul 19, 2015 7:52pm
Quoting emmanuel7788
GBPUSD charts: {image} {image} {image} Note: On D1 chart I have one open buy positions. When market retraces with the WRB High-Low, I will build more positions with 0.2% risk each and up to maximum 5 positions (1% total risk) with technical SL below the WRB Low. Should the breakouk happens before deep retracement, I will scale-in position above the WRB High. Let see how this pair will run this week. I will provide my trade update when I have time. Have a good trading week folks, make good pips!
Emmanuel

Thank you for everything you've done.
  • #58,942
  • Jul 19, 2015 8:21pm Jul 19, 2015 8:21pm
Quoting emmanuel7788
Multiple Entries / Multiple Exits ME/ME trades closed week 29 17 July. A good week and closing some profitable baskets of trades and also taking a few small losses. This account started at US$50K on 23 June and grew nicely and now a healthy balance. I will continue to use 0.2% per trade position lot size will increase. Will need to manage this properly so that I don't blow this one in the coming weeks. {image} Last week's results in post#58,674
Hi emmanuel,
Can share more about this? You start on 23 June 2015 or 2014, as I saw there is about 500+ trades? Is this trade based on higher time frames (e.g. H4/D1)? Would like to learn this system and learn from you.
  • #58,943
  • Edited 8:37pm Jul 19, 2015 8:21pm | Edited 8:37pm
Quoting mousteven
{quote} Emmanuel Thank you for everything you've done.

You are welcome!

For those who PM me asking me to show how ME/ME trading is done, here is my GBPUSD ME/ME trades done last week.
Remember, I do my Big Picture Plan first to see where the Historical Swing levels are near to where current market is trading.
With GBPUSD, it was much easier with the D1 price patter seen after 10 July D1 chart close. There was a bullish price pattern and after that , it will be buy only.
Similarly when 14July D1 candle closed, it was buy only.
And this week, we saw the previous week candle close bullish and with rhe previous month June close bullish MN candle, we are good ofro buy only this week.
But we have to handle the pullback/retracement during the week. This is very difficult thing for many traders when trades are in negative floating. This is how the use of ME/ME can help us handle the floating loss. We build position gradually during the retracement using smaller riks of 0.2% instead of one single entry of 1% to 2% full risk. With multiple entries of 0.2% risk, and after several ME build build positions we will get an overall average entry price. Remembr we do not use martingale in our ME positions. We calculate each position lost size using 0.2% risk of our allocated balance and using a technical Stop Loss. I use a 2 Days Look Back, menaing when I make my entry today, my technical SL is last Thursday Low, but in the case of GBPUSD last turdsday low is too small to consider for a SL, so I use the WRB low for my technical SL and do my position sizing.
I know many of you trade with small account and fix lot size. This may not make sense for you to do position sizing.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD ME_ME trades week 29..png Size: 95 KB


To learn this ME/ME, I suggest you open a bigger demo account where you can trade fraction standard lot. Try this with a $50K demo account and apportion $10k for each currency pair you want to trade with ME/ME. You will see and learn how Money management work with percentage risk and position sizing. Your target of 10% profit per every 20-trading days can be achieved and can be repeated over and over again with knowledge, practice and discipline in this business. This is a good way to trade yourself to financial freedom. Forget about those system which promises you to turn $500 into $100,000. Ask yourself how often or many times can your repeat turning $500 into $100,000.

Learn to trade, and trade well.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #58,944
  • Jul 19, 2015 8:32pm Jul 19, 2015 8:32pm
Quoting happytrade38
{quote} Hi emmanuel, Can share more about this? You start on 23 June 2015 or 2014, as I saw there is about 500+ trades? Is this trade based on higher time frames (e.g. H4/D1)? Would like to learn this system and learn from you.

Hi,

Its 23 June 2015. This is a new account after my previous broker decided to stop their MT4 business. The previous month ME/ME trades were posted earlier.
The reason for that many trades between 23 June and 17 July is because I trade 12 currency pairs concurrently.
All trade decision is based on top down analysis what I call Big Picture Planning hence I usually trade the H4 and D1 charts. This allows me more time to do other things in life and not having to look at my charts so often during the day. at most I check my trade once every 4 hours and if I missed one 4 hour period, no big deal, I check at time intervals 5th-hour or 6th hours. This time interval is good becasue we should not be opening too many ME trades too close to the previous open trades.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #58,945
  • Jul 19, 2015 8:36pm Jul 19, 2015 8:36pm
Quoting birdnest
This week on D trade, I am focusing on the GN. Next resistance to look out for is at 2.43 region.

yes. I am buy too ... and

all GBPUSD, GBPAUD, GBPNZD and GBPCAD pairs are buy only with ME/ME.

Be warned, there will be retracements/pullbacks, etc. .... and choppy times,
question is what shall we do when we have several ME open positions and market do not move where we want?

Post your chart and I will explain whatever I can using your charts.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #58,946
  • Jul 19, 2015 9:02pm Jul 19, 2015 9:02pm
Quoting emmanuel7788
{quote} Hi, Its 23 June 2015. This is a new account after my previous broker decided to stop their MT4 business. The previous month ME/ME trades were posted earlier. The reason for that many trades between 23 June and 17 July is because I trade 12 currency pairs concurrently. All trade decision is based on top down analysis what I call Big Picture Planning hence I usually trade the H4 and D1 charts. This allows me more time to do other things in life and not having to look at my charts so often during the day. at most I check my trade once every...
Interesting and impressive result. Mind to share more on the Big Picture Planning? thanks.
  • #58,947
  • Jul 19, 2015 9:05pm Jul 19, 2015 9:05pm
Hi Traders
The 1st. Trade in this week starts with another Scalp-Winner.
Im very Happy, maybe im a scalper :-) The Time will say me what am I.
Attached Image (click to enlarge)
Click to Enlarge Name: euraud4.jpg Size: 230 KB


Lazy
mia san mia since 1900
  • #58,948
  • Jul 19, 2015 9:07pm Jul 19, 2015 9:07pm
Quoting emmanuel7788
{quote} You are welcome! For those who PM me asking me to show how ME/ME trading is done, here is my GBPUSD ME/ME trades done last week. Remember, I do my Big Picture Plan first to see where the Historical Swing levels are near to where current market is trading. With GBPUSD, it was much easier with the D1 price patter seen after 10 July D1 chart close. There was a bullish price pattern and after that , it will be buy only. Similarly when 14July D1 candle closed, it was buy only. And this week, we saw the previous week candle close bullish and with...
Thanks Emmanuel, this is really priceless. Many a times, new traders like me risk too much into one trade hoping the $500 - $100K dream.

But for the truth, it is really a journey to financial freedom with NO overnight success.
  • #58,949
  • Jul 19, 2015 10:06pm Jul 19, 2015 10:06pm
Quoting emmanuel7788
here is my outlook for the Eur and Gbp pairs. {image} {image} Some good news is that the Greek banks will re-open next week so the folks can withdraw slightly larger sums of euros. But the bailout negotiations will continue. Let's hope that it will be a good way forward for Greece and its people.
Hi Emmanuel,

Thanks for sharing and educating about coming week outlook of EUR and GBP pairs. We are trying to understand the reasons / basis of outlook.
I am learner here and want to understand HTF big picture. I am not able to understand some of pair's outlook.

ECAD: Last week candle closed red (not bullish), however TDI angle is still very good. I feel there is conflict but your view is bullish, please can you explain in more detail how to take view in such conflicting situation.

EGPB: weekly candle bearish and TFI angle is also down , but you put CROSS, why ?

We learn lot from detailed explanations.

Thanks

MK



Thanks
  • #58,950
  • Jul 19, 2015 10:28pm Jul 19, 2015 10:28pm
Quoting LazyTrad3r
{quote} Yeah i like this style of scalping. But its a Demo Account. I will start with a real Account for 2016. Now i will try bit a bit to make more profit than loss. I start trading since this year. Im a big Fish Lazy
Keep it up bro. Once you're confident and ready, start out with micro lots on a Live account. Even at 10c a pip, set a nice 100 pip take profit and a 100 pip stop loss on each 4H trade and leave it overnight while you sleep. Wake up and check how your trade went.

The golden rule to follow is "triple your demo account balance first and you'll be ready to go live"
  • #58,951
  • Jul 19, 2015 10:34pm Jul 19, 2015 10:34pm
Quoting Dimi.A
{quote} Keep it up bro. Once you're confident and ready, start out with micro lots on a Live account. Even at 10c a pip, set a nice 100 pip take profit and a 100 pip stop loss on each 4H trade and leave it overnight while you sleep. Wake up and check how your trade went. The golden rule to follow is "triple your demo account balance first and you'll be ready to go live"
Hey Dimi wazz up? I hope you got a nice Weeknd?
Thx for your Motivation.
Its a good golden rule with "triple" the Demo Account. But I think imo its better i have to start with 100-500 bugs and then i will see how is my trading and my discipline. Demo its good, but real money its better.

Lazy
mia san mia since 1900
  • #58,952
  • Edited 11:20pm Jul 19, 2015 10:37pm | Edited 11:20pm
Quoting emmanuel7788
{quote} You are welcome! For those who PM me asking me to show how ME/ME trading is done, here is my GBPUSD ME/ME trades done last week. Remember, I do my Big Picture Plan first to see where the Historical Swing levels are near to where current market is trading. With GBPUSD, it was much easier with the D1 price patter seen after 10 July D1 chart close. There was a bullish price pattern and after that , it will be buy only. Similarly when 14July D1 candle closed, it was buy only. And this week, we saw the previous week candle close bullish and with...
.

hi Emmanuel,

Thanks for sharing this ME/ME chart and related information's.
1. Is this 0.2% risk is of he total equity or of a portion of equity allocated to that particular pair ( let say equity 100K, trading 6 pair and for GU allocated 20K so now this 0.2% per entry/ position built-up, is of 20K or 100K.

2. When you add ME in entry , your average price comes down on every addition, than Is your TP Price also changed (reduced) ?.

3. when in any entry you add ME, is your lot size remain same.

4. How you calculate the TP price in case of ME/ME.

Thanks

MK
  • #58,953
  • Jul 19, 2015 11:11pm Jul 19, 2015 11:11pm
Attached Image (click to enlarge)
Click to Enlarge Name: audjpy-h4-hf-markets-ltd.png Size: 42 KB

AJ - 1st trade this week. I've lost the exit on 91, but locked 30 pips. I'll let this run 'cause I see an increase in volume. Next exit target is 90.55.
Meanwhile, I'll be watching GJ - it may be the time for a trend change (MACD going down, TDI bottleneck, and GU looks like it is already going down). We shall see.
Using the RobotFX EAs for a while https://www.robotfx.org/
  • #58,954
  • Jul 19, 2015 11:15pm Jul 19, 2015 11:15pm
Quoting wattaman
{image} AJ - 1st trade this week. I've lost the exit on 91, but locked 30 pips. I'll let this run 'cause I see an increase in volume. Next exit target is 90.55. Meanwhile, I'll be watching GJ - it may be the time for a trend change (MACD going down, TDI bottleneck, and GU looks like it is already going down). We shall see.
Hy wattaman

Nice Trade Man. I have a question....what shows you the indicator Synergy Pro Volatility? sry for this question but i start trading since this year. im a noob.
Lazy
mia san mia since 1900
  • #58,955
  • Jul 19, 2015 11:20pm Jul 19, 2015 11:20pm
Quoting LazyTrad3r
{quote} Hy wattaman Nice Trade Man. I have a question....what shows you the indicator Synergy Pro Volatility? sry for this question but i start trading since this year. im a noob. Lazy
Well, you're not noober than me, dude The volatility is the gray curved line behind the macd.
Using the RobotFX EAs for a while https://www.robotfx.org/
  • #58,956
  • Jul 19, 2015 11:32pm Jul 19, 2015 11:32pm
Quoting wattaman
{quote} Well, you're not noober than me, dude The volatility is the gray curved line behind the macd.
hahaa okey.....yes i know it is the gray curved line....but how this line helps you????? make me an example pls.

Lazy
mia san mia since 1900
  • #58,957
  • Jul 20, 2015 12:22am Jul 20, 2015 12:22am
Quoting LazyTrad3r
{quote} hahaa okey.....yes i know it is the gray curved line....but how this line helps you????? make me an example pls. Lazy
They say that the line rises when the volume increases. So, if I understood right, when the line rises, the price will move faster.... hopefully in the desired direction. Opposite to this, when the line is below a certain level, not much is happening so you better move to another pair.
But, I'm still playing to this indi and it has nothing to do with this post. I suggest you try to master Eelfranz trading method first, then pay attention to other tools. As you can see, my chart is a little too crowded - that's usually a bad thing
Using the RobotFX EAs for a while https://www.robotfx.org/
  • #58,958
  • Jul 20, 2015 12:32am Jul 20, 2015 12:32am
Quoting wattaman
{quote} They say that the line rises when the volume increases. So, if I understood right, when the line rises, the price will move faster.... hopefully in the desired direction. Opposite to this, when the line is below a certain level, not much is happening so you better move to another pair.
Ok thx man....that is a answer where i need
mia san mia since 1900
  • #58,959
  • Jul 20, 2015 1:53am Jul 20, 2015 1:53am
Quoting happytrade38
{quote} Interesting and impressive result. Mind to share more on the Big Picture Planning? thanks.

Here you have some reading and catch up.

Big Picture Planning ; Post#27,200 Post#30,541

Also some previous posts which can be useful.
Attached Image (click to enlarge)
Click to Enlarge Name: FF keyword search Big Picture.png Size: 213 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #58,960
  • Jul 20, 2015 2:00am Jul 20, 2015 2:00am
First trade of the week and 2nd trade for a while, I dont normally enter before LO but it looked good and I had to go out to work, Trade closed by the time I got to the office.
Attached Image (click to enlarge)
Click to Enlarge Name: EAH1 20,7,15.png Size: 23 KB
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