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Trading Made Simple

  • #62,781
  • Nov 9, 2015 2:10am Nov 9, 2015 2:10am
Quoting emmanuel7788
{quote} excellent. Are these H1 trades? they look good.
Yes all of them wore 1H trades.
  • #62,782
  • Nov 9, 2015 2:15am Nov 9, 2015 2:15am
Hello Guys, I am new to the forum and pretty new to trading too. I have reading some of these threads starting from the beginning with Big E. Can anyone tell me if the system Big E developed is still relevant in today`s market and can any of you point me in the right direction to get started please? I am running a mt4 fxcm platform but also have esignal charts, much appreciated.
  • #62,783
  • Nov 9, 2015 2:33am Nov 9, 2015 2:33am
Long on H4 EU:

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  • #62,784
  • Nov 9, 2015 2:47am Nov 9, 2015 2:47am
Quoting emmanuel7788
{quote} It is very important when we do position buliding is not to open too many new trades very close to the previous trade. The minimum time delay between the last trade and the next add-on trade should be 4-hours minimum. The pip distance must not be smaller than 0.25ADR (100days) otherwise we will end up with too many open trades in the same day. The technical trading "trick" here is to use time delay and pip distance 'grid' and use the TDI cross either in M15 or H1 to add the trades for us. That is how a trade manager can be programmed to...
Hi Emmanuel

Do you have or find any such EA which can do all these functions as trade manager.

Thanks

MK
  • #62,785
  • Nov 9, 2015 2:56am Nov 9, 2015 2:56am
Quoting emmanuel7788
{quote} Hi tibovwh, Here this NU trade example will explain situations when I open a new basket with 0.2% for the first trade and there was no retracement for me to build position to get a better average entry price. In such situation, I will scale-in more trads as the price action move in favour of the dominant trend. With three open trades now, my total risk used is 0.6% and I am above my average breakeven price. I now have the option to close the first two trades taking some profits and re=open new ones with the 0.4% risk. I wait and see later...
Chart is very clear. Thanks!

So you could close 0.4% and reopen while keeping your Initial SL the same? You don't really lock in profits or anything? I don't fully see the benefit of this as the position can still go against us for the full risk. Or do you keep this in mind when you see any sign of invalidation you close quickly?

I have seen other charts where you add lots (say 0.2%) and you move your S/L to BE on the first lot (thus locking in a profit) while keeping initial risk the same on the full position.

So how do you decide on what type of averaging up to use? Is it the convinction you have in the trade? The more room you think it has, the more you prefer option 1?

Best,
  • #62,786
  • Nov 9, 2015 3:32am Nov 9, 2015 3:32am
Quoting emmanuel7788
{quote} Yes. That is a high probability intraday trade level which I often look at when I trade H1. The 50% rectracement of the previous Day High-Low is where seller/buyers will wait at. The same when we trade H4, the 50% retracement of the privious Week high-Low is also the places we look for Buy/Sell entries. These are what I call Fib38/50 entry and they often work out when the market is trending and the retracement are usually shallow in strong trends. We look for TMS setups at these Fib38/50 levels. It will not work when the previous Day or...
Your explanation is very good Emma, thank you very much, from you in a word or two can always get very good inspiration!
  • #62,787
  • Nov 9, 2015 4:01am Nov 9, 2015 4:01am
Quoting Kubiasty
Long on H4 EU: {image}
Hi, Kubiasty!

I have no idea what your reasons were for entering a long on EU H4, with those little APBs and when the HTF trend is down, but here is my reason for going long on EU H1: PA is in a WRB range on H4, so I took that long on H1 with SL under the PAC and TP at H1 resistance. After the long downward move of the pair, I expected a correction. I entered 2 minutes before candle close, when the APB looked better. Then it retraced, and I realized my entry APB didn't look that good anymore. That was mistake number 1. I should 't have traded the live candle. Mistake number 2 was that I only looked at the TDI bounce, I took it as a good signal. But only afterwards I looked under the TDI, and saw that the stoch did not confirm my bounce. I corrected both mistakes by closing the trade with a 1,5 pips loss. I got burnt, but the lesson was learnt. If I had stayed in the trade, then I would have placed my pips in the hands of Lady Luck.
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  • #62,788
  • Nov 9, 2015 4:08am Nov 9, 2015 4:08am
Quoting Scrambleguy
Hello Guys, I am new to the forum and pretty new to trading too. I have reading some of these threads starting from the beginning with Big E. Can anyone tell me if the system Big E developed is still relevant in today`s market and can any of you point me in the right direction to get started please? I am running a mt4 fxcm platform but also have esignal charts, much appreciated.

Hi,

WELCOME!

What has changed since 2011? The market liquidity has grown much more now.
Otherwise, the market remains very much the same. There is a trend in every timeframe. The market still move in waves, small waves, big waves. There are still the same swing highs and swing lows in every chart. Some charts just have more very big candles these days and weeks compared to before 2008. ...

start reading this post and you will save a lot of time having to read 62k posts.

Introduction to Trading Made Simple Post#57,854

and setup your charts with the latest indicators (in that post above) and be active in discussions here.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #62,789
  • Nov 9, 2015 4:26am Nov 9, 2015 4:26am
Quoting mkfx
{quote} Hi Emmanuel Do you have or find any such EA which can do all these functions as trade manager. Thanks MK

Hi,

There are many trade manager EAs out there but none of them do what I want in my ME/ME trading and trade management. There are a few good basket trade managers which you can consider and use. PM you details later and to avoid conflict with FF membership CoC.

What I wrote above were just two very basic functions to add or build position.
There are more functions required and the money management part is very complex when trading with multiple pairs in one same account. Moreover, MT4 account is based on the account and it calculate its trade accounts statistics based on this account deposit. Is the account deposit the real trading account size? How many traders actually deposit their real trading capital 100% into their broker account.

The other part which is also rather complex is the trade management module. There are too many variables which the traders have to decide and have control over the EA. This is a very difficult part because as traders, we must do the control and make the decisions and not allow the EA to do everything for us.

Exit strategy has many variations and that depends on the trader. How to keep trading account equity healthy for ME/ME trading and how to keep drawdown to sizeable manageable amount for easier recovery is very difficult to program into any EA. An EXCEL spreadsheet work very much quicker and easier than any EAs.
There is no full functional EA that can do all that I want. I still do many trade decisions on my own and take control of my trade manager EA whenever I need to.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #62,790
  • Nov 9, 2015 4:38am Nov 9, 2015 4:38am
GBPJPY D1 Big Picture

We have been consolidating inside the Weekly MC for a while now (ignoring a wick in september).

Thursday saw a nice BEOB confirmed with TDI cross off the high of this weekly range.

However, today we are seeing weakness across all JPY pairs. (Strong USDJPY).

Are we retracing the BEOB to continue down later? i.e. Can we build short positions?

Looking only at this pair I would say yes, but USDJPY is cause for concern. What is your view?

Best,
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  • #62,791
  • Nov 9, 2015 4:48am Nov 9, 2015 4:48am
AUDUSD D1

Long term downtrend seems to be resuming. Friday NFP ; Nice bearish cross on TDI. We are below 10EMA , 50EMA, 200EMA

What is the best way to trade this pair short?

D1 position trading building ME? or 4H swing trading waiting for signal near 50EMA?

Where best to place S/L?
2 days loockback period at 0.7175?
above swing high at 0.7230?
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  • #62,792
  • Nov 9, 2015 5:01am Nov 9, 2015 5:01am
Quoting tibovwh
GBPJPY D1 Big Picture We have been consolidating inside the Weekly MC for a while now (ignoring a wick in september). Thursday saw a nice BEOB confirmed with TDI cross off the high of this weekly range. However, today we are seeing weakness across all JPY pairs. (Strong USDJPY). Are we retracing the BEOB to continue down later? i.e. Can we build short positions? Looking only at this pair I would say yes, but USDJPY is cause for concern. What is your view? Best, {image}
just looking at pa ,I would not short the dragon
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the cautious seldom err....C
  • #62,793
  • Nov 9, 2015 5:02am Nov 9, 2015 5:02am
GBPUSD D1

After last weeks bearish candle close we broke the Monthly Consolidation range. I think we can expect a correction, but I don't expect a reversal. So we try to sell high?

I will be paying attention to the 4H 50EMA and sell away from this.
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  • #62,794
  • Nov 9, 2015 5:06am Nov 9, 2015 5:06am
Quoting pips29
{quote} just looking at pa ,I would not short the dragon {image}
Thx for your view!

Fridays pin bar had indeed made HL but after such a big move on Thursday a small correction could be expected?

The short term trendline I had noticed too and is idd still in play.

Perhaps it is a bit early to build short positions

Best,
  • #62,795
  • Nov 9, 2015 5:22am Nov 9, 2015 5:22am
Quoting pips29
{quote} just looking at pa ,I would not short the dragon {image}
Quoting tibovwh
GBPJPY D1 Big Picture
Hello, Pips29!
Hello, Tibovwh!

If today's candle closes bullish, with big body and small upper wick, we have more reasons to buy, because we'll be having a morning star pattern.
  • #62,796
  • Nov 9, 2015 6:05am Nov 9, 2015 6:05am
Quoting catalin_eros
{quote} {quote} Hello, Pips29! Hello, Tibovwh! If today's candle closes bullish, with big body and small upper wick, we have more reasons to buy, because we'll be having a morning star pattern.
this pattern is good if formed in a downtrend....the daily is in an uptrend
the cautious seldom err....C
  • #62,797
  • Nov 9, 2015 6:10am Nov 9, 2015 6:10am
Good morning everyone,

It's 7:00a.m. Montana time,
(I need to go back to bed for a couple of hours).

When I was looking at my charts I saw this nzd/usd chart.
Now...don't look at the tdi.
Look at the apb.
See the red apb pin bar!
I look for things like that...nothing to do with the tdi!
Just a thought for you...
Good night for awhile.
sj
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  • #62,798
  • Edited 7:02am Nov 9, 2015 6:43am | Edited 7:02am
Quoting pips29
{quote} this pattern is good if formed in a downtrend....the daily is in an uptrend
I disagree. Morning star pattern indicates bullishness. You confuse it with the evening star pattern. That is bearish.

EDIT: I think you meant to say it is a reversal pattern. That's true. But if we combine the three candles forming the pattern, we get a hammer or dragonfly doji. That translates into a lot of buying pressure, which is very good since we are already in an uptrend. Let me know what you think. I know you are a very good trader.
  • #62,800
  • Nov 9, 2015 6:46am Nov 9, 2015 6:46am
Quoting snarlyjack3
Good morning everyone, It's 7:00a.m. Montana time, (I need to go back to bed for a couple of hours). When I was looking at my charts I saw this nzd/usd chart. Now...don't look at the tdi. Look at the apb. See the red apb pin bar! I look for things like that...nothing to do with the tdi! Just a thought for you... Good night for awhile. sj {image}
SJ

Excellent example where the Price Action is leading the TDI indicator.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
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