Trading Made Simple | Page 2954 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Monitor for 'Trading Made Simple' system 565 replies

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

Indicators for the 'Trading Made Simple' system 343 replies

MTF Indicators for the 'Trading Made Simple' system 241 replies

Trading Made Simple system follower - Thanks to eelfranz 9 replies

Attachments: Trading Made Simple
Exit Attachments

Trading Made Simple

  • #59,061
  • Jul 22, 2015 7:28am Jul 22, 2015 7:28am
TMS ME/ME trades closed Week 30.

Just closed some baskets of trades before NY Open. This is to complete my 20-days trading cycle so that I can start a new cycle next week.

The account started at $50k on 23 June and manage to break the $100k psych level. Over the next 2 days I think of my trading plan fro the next 20-days cycle.

Attached Image (click to enlarge)
Click to Enlarge Name: TMS ME_ME trades closed 22 July.png Size: 77 KB


TMS ME/ME trades history:
Week 29, July 13 to 17 Post#58,915
Week 27 & 28, June 29 to July 10 Post#58,672
Week 26 June, Post#58,353
Weeks 24 & 25 results, please see Post#57,868 and Post#58,085.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #59,062
  • Jul 22, 2015 8:10am Jul 22, 2015 8:10am
Quoting emmanuel7788
{quote} when trading H4, which is your Primary Trend? {image}
What is the right answer?
Just an opinion. Based on research
  • #59,063
  • Jul 22, 2015 8:15am Jul 22, 2015 8:15am
Quoting emmanuel7788
{quote} Hi, I see the next level for target is 198.00 but between now till 198.00 will be very choppy way up. First need to overcome June close and high. After that it will depends on market events/news, etc. regards,
Hi emmanuel. I took your suggested trade as well. +100 pips at the moment.

May I know how do you determine that it will go up till 198.0? is it based on fib ratio? It would be great if you could screen shot how or what you used to gauge the TP . Thank you so much. You're an inspiration.
  • #59,064
  • Jul 22, 2015 8:16am Jul 22, 2015 8:16am
Quoting since80808
{quote} What is the right answer?
When I trade H4 that is the Short term trend. The Intermediate trend is the Daily and the Primary trend is the Weekly.

Attached Image


Attached Image


Attached Image


Attached Image (click to enlarge)
Click to Enlarge Name: Market Trends M15 H1 H4.png Size: 372 KB


Its always the same to use three timeframes when trading.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #59,065
  • Jul 22, 2015 8:17am Jul 22, 2015 8:17am
Quoting emmanuel7788
TMS ME/ME trades closed Week 30. Just closed some baskets of trades before NY Open. This is to complete my 20-days trading cycle so that I can start a new cycle next week. The account started at $50k on 23 June and manage to break the $100k psych level. Over the next 2 days I think of my trading plan fro the next 20-days cycle. {image} TMS ME/ME trades history: Week 29, July 13 to 17 Post#58,915 Week 27 & 28, June 29 to July 10 Post#58,672...
Hi Emmenual

A great and smooth equity curve. Since your position size is dynamic % of allocated funds to a pair, is your lot size changed as equity increased every day in last 3-4 weeks.

Thanks

MK
  • #59,066
  • Jul 22, 2015 8:22am Jul 22, 2015 8:22am
Quoting emmanuel7788
TMS ME/ME trades closed Week 30. Just closed some baskets of trades before NY Open. This is to complete my 20-days trading cycle so that I can start a new cycle next week. The account started at $50k on 23 June and manage to break the $100k psych level. Over the next 2 days I think of my trading plan fro the next 20-days cycle. {image} TMS ME/ME trades history: Week 29, July 13 to 17 Post#58,915 Week 27 & 28, June 29 to July 10 Post#58,672...
Very nice trading Em
  • #59,067
  • Jul 22, 2015 8:31am Jul 22, 2015 8:31am
Quoting stcl
{quote} Hi emmanuel. I took your suggested trade as well. +100 pips at the moment. May I know how do you determine that it will go up till 198.0? is it based on fib ratio? It would be great if you could screen shot how or what you used to gauge the TP . Thank you so much. You're an inspiration.

Hi,

No need to use fibo.
The market remembers where it went before.
Do Big Picture Planning to see where the Monthly historical price swing levels were.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPY MN Big Picture week 30.png Size: 72 KB


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

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #59,068
  • Jul 22, 2015 8:42am Jul 22, 2015 8:42am
Quoting emmanuel7788
{quote} Hi, No need to use fibo. The market remembers where it went before. Do Big Picture Planning to see where the Monthly historical price swing levels were. {image} Big Picture Planning ; Post#27,200 Post#30,541 regards,
Thanks a lot Emma I also followed your advise from yesterday, now I am +157 pips with 3 trades

192.670
193.315
193.478
  • #59,069
  • Jul 22, 2015 8:55am Jul 22, 2015 8:55am
Quoting emmanuel7788
{quote} Hi, No need to use fibo. The market remembers where it went before. Do Big Picture Planning to see where the Monthly historical price swing levels were. {image} Big Picture Planning ; Post#27,200 Post#30,541 regards,
thanks thanks
  • #59,070
  • Jul 22, 2015 9:20am Jul 22, 2015 9:20am
Quoting emmanuel7788
TMS ME/ME trades closed Week 30. Just closed some baskets of trades before NY Open. This is to complete my 20-days trading cycle so that I can start a new cycle next week. The account started at $50k on 23 June and manage to break the $100k psych level. Over the next 2 days I think of my trading plan fro the next 20-days cycle. {image} TMS ME/ME trades history: Week 29, July 13 to 17 Post#58,915 Week 27 & 28, June 29 to July 10 Post#58,672...
I don't have any words for this, I'm speechless, very impressive sir
  • #59,071
  • Jul 22, 2015 12:53pm Jul 22, 2015 12:53pm
What a pippin mobster! Seriously, no better way to put it than straight gangster. yep.

Quoting emmanuel7788
TMS ME/ME trades closed Week 30. Just closed some baskets of trades before NY Open. This is to complete my 20-days trading cycle so that I can start a new cycle next week. The account started at $50k on 23 June and manage to break the $100k psych level. Over the next 2 days I think of my trading plan fro the next 20-days cycle. {image} TMS ME/ME trades history: Week 29, July 13 to 17 Post#58,915 Week 27 & 28, June 29 to July 10 Post#58,672...
  • #59,072
  • Jul 22, 2015 4:38pm Jul 22, 2015 4:38pm
Outstanding!!


Quoting emmanuel7788
TMS ME/ME trades closed Week 30. Just closed some baskets of trades before NY Open. This is to complete my 20-days trading cycle so that I can start a new cycle next week. The account started at $50k on 23 June and manage to break the $100k psych level. Over the next 2 days I think of my trading plan fro the next 20-days cycle. {image} TMS ME/ME trades history: Week 29, July 13 to 17 Post#58,915 Week 27 & 28, June 29 to July 10 Post#58,672...
  • #59,073
  • Jul 22, 2015 4:41pm Jul 22, 2015 4:41pm
That saying, 'a picture speaks a thousand words' in practice!!



Quoting emmanuel7788
{quote} When I trade H4 that is the Short term trend. The Intermediate trend is the Daily and the Primary trend is the Weekly. {image} {image} {image} {image} Its always the same to use three timeframes when trading.
  • #59,074
  • Jul 22, 2015 5:36pm Jul 22, 2015 5:36pm
Some small pips on NU and NJ M30
Attached Image (click to enlarge)
Click to Enlarge Name: NZDUSD.PNG Size: 75 KB
Attached Image (click to enlarge)
Click to Enlarge Name: NZDJPY.PNG Size: 72 KB
  • #59,075
  • Jul 22, 2015 5:39pm Jul 22, 2015 5:39pm
Impressive stuff Emmanuel

What do you use to define your primary trend? Would it be price action or an EMA?

Regards,

Derek
  • #59,076
  • Jul 22, 2015 7:48pm Jul 22, 2015 7:48pm
Quoting mokuro89
Some small pips on NU and NJ M30 {image}{image}
Good work mate. Nice chart colour too - easy on the eyes!
  • #59,077
  • Jul 22, 2015 9:18pm Jul 22, 2015 9:18pm
Quoting celord
{quote} Thanks a lot Emma I also followed your advise from yesterday, now I am +157 pips with 3 trades 192.670 193.315 193.478

good priced positions.

GBPJPY D1 chart update:

We are holding on to the weekly burning candle, ... it get warmer near the flame

some of us are holding on to the monthly burning candle.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPY D1 chart update 23 July..png Size: 91 KB


What do you do when trade management?

One of the rule is : "Take what they market gave you."

Close open positions, take profit. Re-enter with new positions, re-do position size if you want and re-invest banked-in profits. This will keep your account balance healthy for many more trades. Think of closing one basket and re-open a new basket of maximum 5 trades in the same currency pair.
Remember, in case market retrace which it often does, you must be prepared to build up positions again to maximum 4 build positions. So you must be careful when you increase your initial entry position size.
I am sure you have questions, so please ask.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #59,078
  • Jul 22, 2015 9:32pm Jul 22, 2015 9:32pm
Quoting Derek-305
Impressive stuff Emmanuel What do you use to define your primary trend? Would it be price action or an EMA? Regards, Derek

Hi Derek,

The moving averages will always catch up with the price.
So we follow the price action to determine the market conditions whether it is trending or sideways "Market Type".
There are different sideways market type, one is sideways wide range which can either be up or down. The other is sideways narrow range which we should not trade using TMS 4H swing.

The use moving averages like the 10EMA (10-period Exponential, Close Price, Shift=0) on any chart TF is a good filter nothing more and should be use consistently.
But use the MAs only after you have done your Big Picture Plan and know where the Historical price swing levels are and then determine the market type on all three timeframes - the primary trend, the intermediate trend and the short term trend.


regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #59,079
  • Jul 22, 2015 9:39pm Jul 22, 2015 9:39pm
Quoting mokuro89
Some small pips on NU and NJ M30 {image}{image}
Do you usually open more than 1 trade per signal?
Using the RobotFX EAs for a while https://www.robotfx.org/
  • #59,080
  • Edited 10:04pm Jul 22, 2015 9:44pm | Edited 10:04pm
Quoting mkfx
{quote} Hi Emmenual A great and smooth equity curve. Since your position size is dynamic % of allocated funds to a pair, is your lot size changed as equity increased every day in last 3-4 weeks. Thanks MK

Hi MKFX,

yes, the trade lot size will will get bigger when the account balance grow and we use an apportioned amount of the account for a currency pair.
But we need to manage the floating drawdown because there will be some trades/ baskets in floating losses. We must maintain in a healthy balance at all times and this is tricky because we are tempted by the greed factor and trade bigger lots.
What I do is to look at the starting account size as the Base Account ($50K is the Base Account) and when there is bigger profit, re-invest only a portion of the profits to the Base Account. Use that new larger Base Account which should be less that the actual account balance and do the same apportion to each currency pair. Have some reserves.

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