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Trading Made Simple

  • #59,101
  • Jul 23, 2015 8:57pm Jul 23, 2015 8:57pm
Quoting mokuro89
{quote} No, It was 1 trade per chart, managed by THV CaveManager w/ multiple exits
I see. I think I should experiment with this EA, too. I suck at trade management and exits
Using the RobotFX EAs for a while https://www.robotfx.org/
  • #59,102
  • Jul 23, 2015 9:34pm Jul 23, 2015 9:34pm
Quoting birdnest
After a good 2 years of learning the strategy and MM skills, I have officially blew my 1st account of loss of -3K. For me, it does take some courage to admit it but I begin to truly understand FX trading is really not easy at all and have learnt SO many mistakes throughout my journey. I finally withdrew all that I have balanced left in my account and decide to take time off the chart and work on my DEMO account instead. I hope to double up my DEMO account first before I take on a new LIVE trade, and hopefully when I am back on trading live, it will...
The golden rule is to triple your demo account first before trading live mate.

How did you manage to blow $3000? How many lots were you trading? What is your risk to reward ratio (stop loss and take profit amounts in pips)?

Most importantly, what time frames are you trading?
One of the biggest mistakes a trader will make is trading the lower time frames. Anything under 1H is dangerous. You will fail miserably if you trade smaller time frames. Trust me, I was once a 1 minute and 5 minute trader and I blew thousands of dollars on all my live accounts no matter how solid the strategy was.
After moving to the 4 hour time frame, lowering my lot size, entering a trade only when the TDI green line crosses the red line on a pair and a new candle has opened, I am finally starting to see profit (see my trading explorer for proof!).

I trade these pairs (see attached screenshot below) and I set alerts in Trading View to e-mail me once the TDI crosses (see video below).
Once I get the e-mail alert, I look at the TDI and see if the green line is pointing at a strong angle. Then I will enter. I set my stop loss at 60-100 pips and take profit to 60-100 pips and walk away.
I'll check it again every hour or two and if i'm in profit, I might close or leave it for longer (as long as there are no major news releases coming up!)

Here is a video of my TDI alerts firing upon a new 4 hour candle.
Let me know if you need help, i'll be glad to chat to you via private message any time.

Inserted Video
Attached Image (click to enlarge)
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  • #59,103
  • Jul 23, 2015 9:39pm Jul 23, 2015 9:39pm
Quoting wattaman
{quote} I see. I think I should experiment with this EA, too. I suck at trade management and exits
on this emmanuel post I got it and the info on how-to
  • #59,104
  • Jul 23, 2015 9:42pm Jul 23, 2015 9:42pm
Quoting albuquettes
It's either been a fluke week or the TMS philosophy is working for me. {image}
Awesome job!

It has been a good week; if you trade Big E style there was the perfect setup on Tuesday night on his 4H 8 chart window, and you needed his wheelbarrow in the morning.
  • #59,105
  • Jul 23, 2015 10:43pm Jul 23, 2015 10:43pm
Quoting Donquixote
{quote} may i know what make you decide to go buy bias?
several posts where we discussed this GJ pair this week. You may have not read all my posts this week.

http://www.forexfactory.com/showthre...19#post8393119
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #59,106
  • Jul 23, 2015 10:47pm Jul 23, 2015 10:47pm
Quoting firas1980
{quote} i cant understand what is third eye this is buzzle oh my god this is a lot of information should be read . how can locate swing hi lo not in thread you gave
Hi firas,

I know language differences is a barrier here.

but before I spend my time and repeat explain the little details to you, please tell me why do you want to look for swing high and swing low?

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #59,107
  • Jul 23, 2015 10:49pm Jul 23, 2015 10:49pm
Quoting emmanuel7788
{quote} several posts where we discussed this GJ pair this week. You may have not read all my posts this week. http://www.forexfactory.com/showthre...19#post8393119
Hi Emmanuel
After reading many posts by you and your love for 10EMA I incorporated 10EMA in my trading chart and seeing things beautifully.Works great with 200EMA on 30min-H4- Daily
Thank you for your informative posts
Took AC today for 102+pips.Its beautiful on 30min how confluence of 200 and 10 came together and break out on south side
regards
Attached Image (click to enlarge)
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In trading, you have to be defensive and aggressive at the same time
  • #59,108
  • Jul 23, 2015 10:59pm Jul 23, 2015 10:59pm
Quoting since80808
{quote} Emmanuel, several times I read different pieces of your vision of TMS. If it's possible, could you answer, please: 1. which pairs do you trade? 2. at what TF are you looking for the first signals? (canlde color change+TDI cross) [I know that you make Big Picture Plan on several TF's and ask only about main, "signal" TF] I ask many questions in this thread, because I researched this strategy and demo it for 3 monthes (all major and minor pairs, TF=H1) Then I moved to real acount with 2000 USD In 1 month I increased it to 3000 USD Then I decreased...

Hi since,

reading post, I am quite sure you do not have a business plan for trading.
asking questions is good way to learn. When I answer questions I learn too. Its two ways.
you can pick up many things shared here in FF especially in all the threads that evolved from TMS 5-Method and piece them together.
many pieces will not fit to form the big puzzle you want.
you need to have knowledge in many things in order to complete the puzzle for yourself. It is that difficult, and its the hard truth about becoming a trader.

It still early here and the restaurant won't open for breakfast till another 2 hours. So I laze around and watch BBC news instead.

Take Care trading today, its Friday.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #59,109
  • Jul 23, 2015 11:07pm Jul 23, 2015 11:07pm
This seems to be a good set up to me.
Attached Image (click to enlarge)
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  • #59,110
  • Jul 23, 2015 11:16pm Jul 23, 2015 11:16pm
Hi Emmanuel,

How long does one have to trade demo before going live? How does one tell that they are already suceessful in trading?

Thanks in advance.
  • #59,111
  • Jul 23, 2015 11:26pm Jul 23, 2015 11:26pm
Quoting dreammore
This seems to be a good set up to me. {image}
In my view its premature to sell H4 PA is still above 10EMA
Yes cross is there on TDI but Price action is tentative on bear side.As you can see price bounced off 10ema before and this could be another bull bounce
Attached Image (click to enlarge)
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In trading, you have to be defensive and aggressive at the same time
  • #59,112
  • Jul 23, 2015 11:48pm Jul 23, 2015 11:48pm
Quoting dewdrops
{quote} Sorry to hear that. In retrospective, what would you do differently? What were your major mistakes? We can learn from your mistakes if you kindly share.
Hi Dewdrops,

Some of my major mistakes:

1. Trading against the primary trend (usually getting caught in narrow ranges and retracements)
2. Taking too late trades
3. Over-leverage

The strategy has been proven by many senior traders but what is the MOST important is the money management skill that many too inexperienced traders fall prey.

Besides being sniper focus on PA and TDI, having a solid money management plan is the winning edge to many many more profits
  • #59,113
  • Jul 23, 2015 11:51pm Jul 23, 2015 11:51pm
Quoting Dimi.A
{quote} The golden rule is to triple your demo account first before trading live mate. How did you manage to blow $3000? How many lots were you trading? What is your risk to reward ratio (stop loss and take profit amounts in pips)? Most importantly, what time frames are you trading? One of the biggest mistakes a trader will make is trading the lower time frames. Anything under 1H is dangerous. You will fail miserably if you trade smaller time frames. Trust me, I was once a 1 minute and 5 minute trader and I blew thousands of dollars on all my live...
Hi Dimi A,

Thanks for your support! Ok, tripling sounds fun!

I have walked away from anything lower than H4 actually. But I guess greed got the better of me in some point and being too impatient as I wait upon a change on H4 or D chart.

Sure, we should catch up offline soon. Meantime I shall rest my eyes and mind off the charts and then work it through the weekends again.
  • #59,114
  • Jul 23, 2015 11:56pm Jul 23, 2015 11:56pm
Quoting mokuro89
{quote} Hi birdnest the hardest part in my opinion is to admit it to yourself like you did, once you be aware that you are full responsible for your actions you work better with your innerself I blew my account twice already, total around 2k, that in my currency was amost my year-sallary on that time, after a good time w/o charts now Im on journey to break-even from a much smaller account acctualy just wanted to say don't give up, learn from the chart mistakes and mistakes inside yourself trade safe!
Mokuro89,

Whoa, almost a year salary! But at this point of time, your rewards taste so much sweeter!

Yes, I will persevere on especially knowing that I still LOVE this. Well, I would treat this as a good wakeup call!
  • #59,115
  • Jul 24, 2015 12:22am Jul 24, 2015 12:22am
Quoting birdnest
{quote} Hi Dimi A, Thanks for your support! Ok, tripling sounds fun! I have walked away from anything lower than H4 actually. But I guess greed got the better of me in some point and being too impatient as I wait upon a change on H4 or D chart. Sure, we should catch up offline soon. Meantime I shall rest my eyes and mind off the charts and then work it through the weekends again.
Depending on what pairs you work on, the daily can have swings of anywhere between 60 to 400 pips. As SL is generally at least 1.5x atr, you see where I'm going. I don't know how many have the stomach to look at a -280 pip status on the mt4 window. Leverage is a 2 edge sword.
Best regards, Zef
  • #59,116
  • Jul 24, 2015 1:24am Jul 24, 2015 1:24am
Quoting ZeF
{quote} Depending on what pairs you work on, the daily can have swings of anywhere between 60 to 400 pips. As SL is generally at least 1.5x atr, you see where I'm going. I don't know how many have the stomach to look at a -280 pip status on the mt4 window. Leverage is a 2 edge sword.
Hi ZeF,

Yes it is scary to see a -280 pip. The way I see it, is to go down to H4 chart for PA confirmation and then H1 for trigger entry. But if we are riding on a confirmed bullish and bearish trend, then it will be safe to say it wont definitely go lower/higher than the previous day close.
  • #59,117
  • Edited 2:45am Jul 24, 2015 2:27am | Edited 2:45am
Quoting birdnest
{quote} Hi ZeF, Yes it is scary to see a -280 pip. The way I see it, is to go down to H4 chart for PA confirmation and then H1 for trigger entry. But if we are riding on a confirmed bullish and bearish trend, then it will be safe to say it wont definitely go lower/higher than the previous day close.
Im in the situation you guys are talking about now. i know this is not a signal service but i could really use a more experienced eye now. where is eu going up or down.Its a daily trade The weeks over and I cant afford to lose any more pips I would really like to close out now (ouch!) if its not going to be bearish eventually. please help !

closed out! whether it continues to go my way or not. already missed a good trade cause i was distracted by the loss.
  • #59,118
  • Jul 24, 2015 2:50am Jul 24, 2015 2:50am
Quoting wnabo
{quote} Im in the situation you guys are talking about now. i know this is not a signal service but i could really use a more experienced eye now. where is eu going up or down.Its a daily trade The weeks over and I cant afford to lose any more pips I would really like to close out now (ouch!) if its not going to be bearish eventually. please help ! closed out! whether it continues to go my way or not. already missed a good trade cause i was distracted by the loss.
This week looks like it is in retracement. And H1 is still near 200EMA
  • #59,119
  • Jul 24, 2015 3:56am Jul 24, 2015 3:56am
Hi Emmanuele!

I used to set very big SL for having more space for pullbacks in main trend. It was not a random setting - only solid S\R levels. 79 positive trades were proof for my idea But only 5 trades with stops killed all collected pips.

So now I'm still trying to clear for me ways for less fake signals:
1. TF (is H1 to small?)
2. Pairs (is exotic less adequate?)
3. SL (nearer S\R or just SL=TP for better RR?)

Ofcourse, I'm not trying to delete MM, trend folowing and other basic rules of market. But if you could help me with that 3 questions I asked higher - I'd be very thankful!
Just an opinion. Based on research
  • #59,120
  • Jul 24, 2015 4:45am Jul 24, 2015 4:45am
Quoting Davit
{quote} Hi Emmanuel After reading many posts by you and your love for 10EMA I incorporated 10EMA in my trading chart and seeing things beautifully.Works great with 200EMA on 30min-H4- Daily Thank you for your informative posts Took AC today for 102+pips.Its beautiful on 30min how confluence of 200 and 10 came together and break out on south side regards {image}

Hi Davit,

That's a super one-shot trade for 102pips.

The 10EMA is just a simple way to use moving average to trade. We simply observe the Price Action around the 10EMA in very chart TF.

There is this very good post by FF member Tango-1 which explains the 10EMA.
http://www.forexfactory.com/showthre...11#post6075211

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