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Trading Made Simple

  • #61,321
  • Oct 9, 2015 10:46am Oct 9, 2015 10:46am
Quoting Ballistical
{quote} Superb TSS! Don't you just love it when LO prints a candle like that...
Thanks , Doing it over time makes it a lot simpler, EJ had ema 200 on the way on daily and that even didnt stop it

I think Id rather call LO entries alike , the surfing wave , like surfers when they jump on the best wave and ride it

Quoting omonisha
{quote} Superb trading TSS very well executed
OS tried to follow ur steps on this one, OB on H4 , when LO opened it was no-brainer, thanks a lot
I Have Learned to Take Some Losses to Make Profits
  • #61,322
  • Oct 9, 2015 10:57am Oct 9, 2015 10:57am
Quoting TheScorpS
EJ _ H1 long at LO on the break of FO H1 candle after breaking major triangle, rode it for 150+ pips combined {image}
Nice trade...do you mind to share your template... I like the indicator in the left top corner and the one in the top middle.
  • #61,323
  • Oct 9, 2015 11:26am Oct 9, 2015 11:26am
Quoting Ballistical
{quote} Agreed! They are some really impressive trade NN! Also agree on the R/R point... something I think is often overlooked in this thread... Do you always trade with such tight SL's? I thought I was aggressive with 25 pips on EA but 10 pips seems suicidal once you've accounted for spread etc. Regardless, really impressive! Keep up the green pips!
Hey Ballistical,

Thanks! We certainly agree. Pips are great and very useful for measuring momentum, range, etc, but ultimately pip counts are less useful than knowing the R:R, unless of course a trader is using Fixed-lots for their Money management. It's no surprise that Emmanuel consistently discusses the importance of MM strategies and how it's even more critical to equity growth than Entry/Exits. Many great PDF's are in the paperclip written by Van Tharp and others on different MM strategies and the additional edge they can provide with different trading styles. I'm sure you have read them, but newer traders should have a look as they are great weekend reading.

Specifically regarding my trades, the 10pip SL was on AUDUSD which is a very slow mover in comparison to EURAUD. It was still tight, but on an M15 chart with a nice breakout it can be doable. Essentially, that trade managed itself, my plan was to move to BE as price approached the DO line and either take a BE or grab some pips if it decided to move. Once it began moving i monitored the trade and decided i would exit if a candle closed bearish outside the PAC and its low was taken out(I'm still testing this trade management idea). In the end, that never happened and i closed it because it was 2AM, FO, and i wanted to sleep and start my weekend early. Had i been able to stay awake, given the above trade management rules the trade would have ended at 1:13. In case any one is wondering i did trail my stops behind PA jumping at every 1:2.5 (on candle closes).

This certainly is not typical, and i gladly take 1:1, 1:1.5, 1:2 trades all the time. However, when the market decides to be generous, it would be rude not to oblige it :-).

All the best,
N.

@Tibovwh, Thanks, and agreed!
  • #61,324
  • Oct 9, 2015 11:32am Oct 9, 2015 11:32am
Quoting Ballistical
{quote} Tib, I'm a little unclear on your entry but EA has been horrible today... typical for a Friday. I entered immediately at LO+1 with LO forming the bullish setup candle. Got out at BE after the double top formed. Price has since formed a double bottom around FO low... Unless the US news presents any really strong setups I'm done for the week
I entered on close of LO so open of LO+1 which is exactly when you entered I think but I did not close on double top. Should have spotted this and drawn conclusions!

Good weekend all
  • #61,325
  • Oct 9, 2015 12:02pm Oct 9, 2015 12:02pm
Hi all,

After i read 50 beginning pages of this thread in 2 days, and finally know that the founder is leave us, feel so sad.

Thanks Big E. I just tried this system after office today, and collect 84 pips in 7 transactions. looks good for beginner like me.
  • #61,326
  • Oct 9, 2015 10:52pm Oct 9, 2015 10:52pm
Quoting Pipsninja
Awesome trading emmanuel7788 on EJ, AJ and AU. Would you mind sharing what made you form a bullish bias for this week? Thanks in advance.
PASR = Price Action at Support & Resistance is one proven way to look for A+++ TMS trade setups.
I look for trades only after I have done my Big Picture Planning.
I look for trades using the top down approach. Knowing where previous price swings were on MN chart, then look at Weekly charts for 5-Method setups, then look at Day charts for 5-Method setups,...
... more

Attached Image (click to enlarge)
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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #61,327
  • Oct 10, 2015 12:18am Oct 10, 2015 12:18am
Quoting TheScorpS
EJ _ H1 long at LO on the break of FO H1 candle after breaking major triangle, rode it for 150+ pips combined {image}
sorry，i have one question,London session has change since 1 OCT,i know this is a good setup if the candle break the FO,but trade FO is low successful setup due to PHX62 method,so is there any reason you trade this way?
  • #61,328
  • Oct 10, 2015 12:26am Oct 10, 2015 12:26am
Traders, has anyone ever thought about using the TMS technique with something like longer expiry (20min up to like Daily Expiry) Nadex binary options? I know this was developed for spot FX but in theory it looks like u can do very well trading those as we arent really looking for pippage just the fact that contract expires at least a pippette ITM.
Scared money DON'T make money!
  • #61,329
  • Oct 10, 2015 12:29am Oct 10, 2015 12:29am
Quoting feidao273
{quote} sorry，i have one question,London session has change since 1 OCT,i know this is a good setup if the candle break the FO,but trade FO is low successful setup due to PHX62 method,so is there any reason you trade this way?
Hi Feidao,

My two cents

As far as I know nothing changed ref. London trading hours on Oct 1st... UK clocks do not change until the end of October.

TSS was not actively trading during FO. His entry was taken on the LO candle upon a break above the FO candle (as PHX62 demonstrated many times)

Hope this helps.

Ballistical
Focus on the process and the profits will follow
  • #61,330
  • Oct 10, 2015 1:11am Oct 10, 2015 1:11am
GBPNZD Week 42 Oct 12 to 16:

A challenge for next week's trading.
With 3 consecutive bearish weeks and price driven down from previous Historical level now down to pretty strong support which held on in June and July, will this support be broken next week?

Attached Image (click to enlarge)
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Longer term position trading selling is good. Sell high!
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #61,331
  • Oct 10, 2015 1:17am Oct 10, 2015 1:17am
Quoting TheScorpS
EJ _ H1 long at LO on the break of FO H1 candle after breaking major triangle, rode it for 150+ pips combined {image}
Beautiful trade as always
  • #61,332
  • Edited 6:03am Oct 10, 2015 2:37am | Edited 6:03am
Quoting feidao273
{quote} sorry，i have one question,London session has change since 1 OCT,i know this is a good setup if the candle break the FO,but trade FO is low successful setup due to PHX62 method,so is there any reason you trade this way?
As BS said , LO still didnt changed timings so we are still good for the rest of this month I guess , wish it stays like this
I Have Learned to Take Some Losses to Make Profits
  • #61,333
  • Oct 10, 2015 2:41am Oct 10, 2015 2:41am
Quoting Dimi.A
{quote} Beautiful trade as always
Thanks Dimi, Phx62 book are gym hidden in the paper clips, but need a lot of hard work to see what he says and do, so lets work it in our trading

Big E and Emmanuel teachings are too, it just takes me long time to get the grasp of em, they are the top A class traders and we should try our best to follow there steps
I Have Learned to Take Some Losses to Make Profits
  • #61,334
  • Oct 10, 2015 2:49am Oct 10, 2015 2:49am
Quoting smika
{quote} Nice trade...do you mind to share your template... I like the indicator in the left top corner and the one in the top middle.
Here both Multi Time Frame indicators I use

1- the one on the left side of my chart is EMA 10, when PA above it should be blue and when below it should be red

2- in the center of the chart, is another MTF but really dont know exactly how it works but am trying to incorporate that in my plan
Attached File(s)
File Type: ex4 MTF-EMA-Info.ex4   12 KB | 402 downloads
File Type: mq4 MTF-EMA-Info.mq4   5 KB | 447 downloads
File Type: ex4 TRO_Multi_Meter_CandleColor_Mid Full_ArialBold.ex4   17 KB | 396 downloads
File Type: mq4 TRO_Multi_Meter_CandleColor_Mid Full_ArialBold.mq4   15 KB | 486 downloads
I Have Learned to Take Some Losses to Make Profits
  • #61,335
  • Oct 10, 2015 6:48am Oct 10, 2015 6:48am
Anyone following GBPUSD as well? On the H4 TF I saw bearish trade appearing which I took but I'm now wondering if I didn't overlook something?
It seems like a sold trade and my STP is set at 1.5360. As for TP I'm looking at 1.5050 or even 1.49xx region.
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  • #61,336
  • Oct 10, 2015 7:42am Oct 10, 2015 7:42am
I finished the week up 2% which is in line with monthly target of 8%. I just reviewed all my trades and despite a whole bunch of bad trades I'm not unhappy with my week. I know there's lots of room for improvement which is positive.

Keywords for next week:

Discipline
Good signals on close of candle
Less focusing on BO trades of MC/WRB's
Don't close trades on a 'hunch'...
Use 5,50 and 200 EMA as filter for higher probabilities unless it's a very clear historical S/R

If I take these good signals I really need to give the trade room and time to develop. Therefor I'm also going to change a few things on my trade manager. I feel like a 2xATR(10) multiple is not always representative of the true volatility for LO/FO trades. These ATR values around this time are mostly biased down due to low volatility in Asia. I like the concept however, and want to keep using this ATR based S/L because it's less random when trading more than one pair and gives each pair a proper S/L and position size. I will try to use 2xATR(20) as a fixed S/L for next week. In addition I'm going to use a 3xATR(20) Trailing S/L that stops at +1xATR(20). (Thus it locks in BE when trade goes 3x in my favor and locks in 1x ATR when it goes 4x in my favor. For TP's I'm not gonne be too greedy. I want to build confidence in my trades so I don't want to get too greedy. When I gain more experience I can always optimize my TP's. So for now we will focus on high winrate with obvious consequence of lower R/R... I will take profit at 1xATR(20) 2xATR(20) and 4xATR(20). More weight will go to 2xATR(20) however. We'll see how this goes and adjust along the way after a few weeks.

To remind myself to stay disciplined: Some very poor trades I took this week (fortunatly I had better trades too ):

Feedback is always welcome!

Great weekend,
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  • #61,337
  • Oct 10, 2015 8:45am Oct 10, 2015 8:45am
Thank you again emmanuel7788 for your reply. I have just recently switched from trading the 5M and 15M charts to 30M, 1H and 4H charts and find it more relaxing and rewarding.

I have a few questions regarding your ME/ME trades. Would you kindly explain the benefits of splitting your trades? On the 4H charts on the high ADR pairs such as GBPAUD, GBPNZD, GBPJPY and EURAUD moves of 180-250 pips after a strong TMS signal are common place. If a trader enjoys a high win rate of nearly 85%, what is the advantage of trading, for example, five 0.2 lot trades with a TP of 50 pips each entered once the previous one reaches profit rather than trading one standard lot with a TP of 180-250 pips with a SL of 80-120 pips?

I can see that in ME/ME trades, one experiences less stress and anxiety while in a trade due to the smaller size and also this multiple position trading gives the opportunity to ride the trend. Your guidance is greatly appreciated.
Trading can't be taught but it can be learned
  • #61,338
  • Oct 11, 2015 1:31am Oct 11, 2015 1:31am
Quoting Pipsninja
Thank you again emmanuel7788 for your reply. I have just recently switched from trading the 5M and 15M charts to 30M, 1H and 4H charts and find it more relaxing and rewarding. I have a few questions regarding your ME/ME trades. Would you kindly explain the benefits of splitting your trades? On the 4H charts on the high ADR pairs such as GBPAUD, GBPNZD, GBPJPY and EURAUD moves of 180-250 pips after a strong TMS signal are common place. If a trader enjoys a high win rate of nearly 85%, what is the advantage of trading, for example, five 0.2 lot trades...
Hi Pipsninja,

You can read all about it here in these posts and the two books by Kathy Lien and Agustin Silvani.
Big E on using multiple entries Post#2622 , Post#2629 , Post#2771 and Post#2912
Money Management Strategy for TMS: Post#48,008
Using Multiple-Lot Positions to Improve trading TMS: Post#33,507
Entry and Exits ... Post#19,617 by Kathy Lien
How to Build a Position: Post#19,588 by Agustin Silvani
Multi-Lots Buy/Sell scripts : Post#55,407
Multiple Entries / Multple Exits for Day chart trading: Post#58,726

If a trader can achieve and maintain that 85% win rate consistently every 100 trades consecutive for every 100,200, 300,... trades over 3 years period with that Single Entry / Single Exit with those TP and SL you wrote, then he will be a super professional trader. He can trade for a living.

regards,

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Attached Image
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #61,339
  • Oct 11, 2015 6:14am Oct 11, 2015 6:14am
Thank you emmanuel7788. I will study the links you kindly provided and will add the 2 books to my trading library. Have a great weekend.
Trading can't be taught but it can be learned
  • #61,340
  • Oct 11, 2015 12:19pm Oct 11, 2015 12:19pm
Quoting coldvinc
Anyone following GBPUSD as well? On the H4 TF I saw bearish trade appearing which I took but I'm now wondering if I didn't overlook something? It seems like a sold trade and my STP is set at 1.5360. As for TP I'm looking at 1.5050 or even 1.49xx region. {image}
You are on the right track,keep going
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