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Trading Made Simple

  • #64,361
  • Jan 5, 2016 12:08pm Jan 5, 2016 12:08pm
[quote=Scrambleguy;8672830]
Quoting Lookleft
{quote} catalin I hope you don't mind me saying so but that is sure fired over trading especially with an average gain of only 20 pips per winning trade. R:R per trade is important but one of the big money management things that most people forget is how much of their capital is at risk at any one time. Assuming say 6 of your trades were running at the same time and you risked 2% on each trade you have 12% of your capital at risk
Hi Lookleft, do you not like the long term guppies? If not why?
  • #64,362
  • Edited 12:42pm Jan 5, 2016 12:39pm | Edited 12:42pm
Trying to get familiar with TMS on demo...

My first trade of the year
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Been stopped out twice and re-entered... have to learn to be more patient and rely on TMS

I have started to print out a screenshot of my entries and exits to keep a trading journal, following the suggestions of Alexander Elder. Hopefully I will learn from my mistakes...
Any suggestions about a trading journal, any recommendations?

Thank you
Best regards, blackfriday
  • #64,363
  • Jan 5, 2016 12:58pm Jan 5, 2016 12:58pm
Quoting blackfriday
Any suggestions about a trading journal, any recommendations? Thank you
A lot of traders say that a trading journal is a must, but I tend to disagree, it might be OK for some, but most of trading is psychological, so is a journal any use?

Also, if you do keep a journal, what do you keep, and would you end up with pages and pages of useless information.

Just my view, others will disagree and it's down to the individual.
  • #64,364
  • Jan 5, 2016 1:17pm Jan 5, 2016 1:17pm
NY's about to close and a new day begins.

EURGBP D1 - Divergence on day. Trade is countering against weekly. TDI bounce with good angle. SL at yesterday high with ME/ME.

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Would you experts take the trade? Thanks for the advices.
  • #64,365
  • Jan 5, 2016 1:26pm Jan 5, 2016 1:26pm
Hi Javforex
May I ask you, what ME/ME means?

Thank you
Enter Signature
  • #64,366
  • Jan 5, 2016 2:13pm Jan 5, 2016 2:13pm
Quoting Fbps
{quote} Great trade Catalin! A good start for the New Year
Thanks, Fbps!

Yeah, a good start, except for that losing trade, which was based on divergence, and I messed it up. But it was just a test, cause I am not really a divergence trader, and that trade did not qualify per my usual criteria of trading. But even so, I still ended up nicely green.

I hope your trading is well.
  • #64,367
  • Jan 5, 2016 2:25pm Jan 5, 2016 2:25pm
Quoting plutodev
{quote} Hi catalin_eros Thanks a lot for your sharing. could you share your template ? thanks in advance
Here you go!
Attached File(s)
File Type: tpl TMS guppy.tpl   14 KB | 464 downloads
File Type: ex4 Average Daily Range Pro Calculator.ex4   63 KB | 461 downloads
File Type: ex4 Synergy_Pro_APB(1).ex4   7 KB | 455 downloads
File Type: ex4 Synergy_Pro_TDI.ex4   14 KB | 494 downloads
  • #64,368
  • Jan 5, 2016 2:27pm Jan 5, 2016 2:27pm
Hi All,

I am relatively a newbie started to play with the market from July 16. While playing with different strategies I lost 35% of my account. I happened to come across this forum and I liked it very much. I read about first 250 pages and important posts by eelfranz and others seniors. My problem has been consistency so far. I am using micro account now a days due to the draw down. I am back to drawing board and hope this strategy works for me as well. I will actively share my trades from now on and feel free to point my mistakes.

Happy New Year!!
  • #64,369
  • Jan 5, 2016 2:34pm Jan 5, 2016 2:34pm
Quoting Lookleft
{quote} catalin I hope you don't mind me saying so but that is sure fired over trading especially with an average gain of only 20 pips per winning trade. R:R per trade is important but one of the big money management things that most people forget is how much of their capital is at risk at any one time. Assuming say 6 of your trades were running at the same time and you risked 2% on each trade you have 12% of your capital at risk Far better to pick 2 or 3 good quality trades and earn 120 pips with far less capital risk. Oh and by the way,...
No problem, buddy, why would I mind?

I am aggressive by nature, and that reflects in my trading. But it worked out well for me trading TMS like this.

As for the guppies, they work out quite well and I prefer them instead of 50 and 200 emas. And my trades are not taken just based on the guppies, they are taken based on the higher timeframe's direction, that's my main ingredient. Once I establishe the direction for the day or for the H4 interval, I am switching to the lower timeframe and trade according to guppies. So they play a role both in higher and lower tf.
  • #64,370
  • Jan 5, 2016 2:35pm Jan 5, 2016 2:35pm
Quoting JasonDeaN
{quote} PAC - full name Price Action Chanal or no? Thanks.
Yes, that is correct: Price Action Channel.
  • #64,371
  • Jan 5, 2016 2:50pm Jan 5, 2016 2:50pm
Quoting Bushy
{quote} A lot of traders say that a trading journal is a must, but I tend to disagree, it might be OK for some, but most of trading is psychological, so is a journal any use? Also, if you do keep a journal, what do you keep, and would you end up with pages and pages of useless information. Just my view, others will disagree and it's down to the individual.
Thanks for your input, Bushy, these are valid points. I hope to learn from a journal. After entering a trade, I often discover some mistakes - entered early or to late, against the trend, didn't check Stoch, similar constellations before, or yesterdays H/L etc. So maybe I should call it "book of rookie mistakes" :-) I think I will try it for some time
Best regards, blackfriday
  • #64,372
  • Jan 5, 2016 2:51pm Jan 5, 2016 2:51pm
Trades for the day:

T1.4 +133.75
EJ trade at LO. Entry bar was kind of the second red the previous two being near-doji.. Entered after clear break of previous bar low and below BRN. TP1 50 and SL 40. TP1 came in quickly. TP2 Was accidental close after applying my EA to manage trade (it closed half of remaining trade due to +50 pips). I re-entered that part that was closed (one quarter of original position) and am still in at 110 pips with SL moved to just behind the BRN.
(50+110/2) = +80 pips

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T1.5 +182.25
EU trade with near identical setup. Entered after TDO cross just below MBL and below BRN. SL 40 and TP1 40. TP1 closed at 47 due to being away from computer whilst a jolt in PA. Second half of position is still open with tight SL behind current bar.

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(47+50)/2 = +48.5 pips

T1.6 +175.25
XAGUSD trade with first loss of the series. Opened after cross of red/green over MBL and break of WRB. TP1 and SL at 7 (25% of 30d ADR). Price bounced back in short order.. The number of pips is low so doesn't affect the series tally too much but initial R:R was the same as all other trade 1% of account. Feedback on this trade (and all others) is very welcome and appreciated J

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-7 pips

T1.7 +207.75
USDCAD entry off TDI bounce, good momentum and (just) passing of BRN. TP1 and SL 40. TP1 came quickly, the second half of trade is still open with SL below last bar. I would have closed TP2 on close of first red bar, but seeing as we are just on the tip of highs from mid-December and before then 2004!) I plan to Iet it run J

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(40+25)/2 = +32.5 pips
  • #64,373
  • Edited 3:33pm Jan 5, 2016 3:09pm | Edited 3:33pm
Quoting Bushy
{quote} A lot of traders say that a trading journal is a must, but I tend to disagree, it might be OK for some, but most of trading is psychological, so is a journal any use? Also, if you do keep a journal, what do you keep, and would you end up with pages and pages of useless information. Just my view, others will disagree and it's down to the individual.
If one sees trading as a business, a journal/manifesto/logbook is handy
It is useful to write down trading plans, strategies and rules, reasons for taking the trades and reasons for closing them.. stuff that usually happens at work.
  • #64,374
  • Edited 7:41pm Jan 5, 2016 6:15pm | Edited 7:41pm
Quoting emmanuel7788
{quote} EURUSD 5-Jan update: The market is in chaos as you may have already read what happened in the Chinese stock market yesterday. Things won't get any better with lower PMI data. the other world events in other regions is not going to be resolve so soon. Expect more volatility in the market and as usual the safe haven currency is the better choice for short term direction rally. Also not forget the precious metal - XAU. If you sold EU yesterday, where did you place your initial SL? Looking at yesterday's big D1 candle with long wicks at both...
Hi Emmanuel,
Sorry for late reply I was very busy yesterday . But I think this EU is very interesting.
Look at EU monthly line chart
It will be ranging for a while.
Yesterday I would go short below Blue line(resistance) & SL 10pips above high monthly line chart(black)
Today I will be looking for long at support(magenta line) & SL 10pips below magenta line of course I have to confirm with H4 candle pattern and TDI.
Or it might BO at support(magenta line) become resistance & SL is 10pips above yesterday closed(look at daily chart)
Best regards,
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  • #64,375
  • Jan 5, 2016 7:17pm Jan 5, 2016 7:17pm
On the AU 4hr there looks to be an oppertunity for a long trade based on Emmanuels inside bar method. My question is do we use HA candles for our entry or do we use normal candles? See attached charts. Regards
Andrew
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  • #64,376
  • Jan 5, 2016 7:50pm Jan 5, 2016 7:50pm
Quoting pete.alfa
{quote} Hi Emmanuel, Sorry for late reply I was very busy yesterday . But I think this EU is very interesting. Look at EU monthly line chart It will be ranging for a while. Yesterday I would go short below Blue line(resistance) & SL 10pips above high monthly line chart(black) Today I will be looking for long at support(magenta line) & SL 10pips below magenta line of course I have to confirm with H4 candle pattern and TDI. Or it might BO at support(magenta line) become resistance & SL is 10pips above yesterday closed(look at daily chart) Best regards,...

Hi,

Sometimes our techncial analysis and approach will fail us. The world markets are in chaos after what happened in the China markets.
With current market sentiments leaning towards the safe haven currencies and Gold, I would not buy EURUSD till I see a higher timeframe bullish momentum in price which the RSI(TDI) will show us.
Intraday very short term corrections and profit taking may bring EU up but we must wait patiently for a bullish reversal for any 4H swing trading and Position trading.

Meantime, I am still in favour to sell, and to sell higher when the price retraces.
With ME/ME, we sell on Day Open, build position with ME trades when the M15 or H1 TDI crosses down.\
Remember, not to open too many new trades in a 4H period. Space the add on trades at 4H intervals and also check the ADR(100days) use distance of 0.5ADR for every add on trade with that 4H period intervals in mind.

Trade Well.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #64,377
  • Jan 5, 2016 7:53pm Jan 5, 2016 7:53pm
Quoting darrie23
On the AU 4hr there looks to be an oppertunity for a long trade based on Emmanuels inside bar method. My question is do we use HA candles for our entry or do we use normal candles? See attached charts. Regards Andrew {image} {image}
Hi,

Sure we see that H4 inside Bar which indicates price consolidation. But there is no buying of AUD under current market sentiments which favour the USD. Also without China market support, the AUD (also the NZD) will unlikely to be bullish so soon.

that H4 IB is also a setup possible for sell later, or go down to lower Tf H1 and take a sell trade would be my preference.

Edit: all trades entries and exits are based on real price bar or Japanese candles and never the HA. The HA Open is not real.

Trade Well.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #64,378
  • Jan 5, 2016 8:00pm Jan 5, 2016 8:00pm
Quoting emmanuel7788
{quote} Hi, Sure we see that H4 inside Bar which indicates price consolidation. But there is no buying of AUD under current market sentiments which favour the USD. Also without China market support, the AUD (also the NZD) will unlikely to be bullish so soon. that H4 IB is also a setup possible for sell later, or go down to lower Tf H1 and take a sell trade would be my preference. Edit: all trades entries and exits are based on real price bar or Japanese candles and never the HA. The HA Open is not real. Trade Well.
Thanks Emmanuel
  • #64,379
  • Jan 5, 2016 8:16pm Jan 5, 2016 8:16pm
Quoting Katfx
Hi Javforex May I ask you, what ME/ME means? Thank you
Hi Katfx,

ME/ME is multiple entries multiple exits.

For more details, pls read Emmanuel's past post:
http://www.forexfactory.com/showthre...38#post8607738
  • #64,380
  • Jan 5, 2016 9:40pm Jan 5, 2016 9:40pm
Quoting catalin_eros
{quote} Nice trades! But you should try to have a R:R of at least 1:1, and advisable 1:2 or 1:3. A SL of 30 pips and a TP of 15 pips may not work out in the long run. But the other way around will. Look at my trades from yesterday. I had a pretty number of losses, but I ended the day with 129 pips profit (I am talking only about the TMS trades, cause I do take other trades using other strategies, too). So only from TMS I gained 129 pips, 6 losers, 6 winners, and a BE. Imagine 6 losers with 30 pips, and 6 winners with 15 pips. I would have been in...

You are really doing well Catalin! I am still having a hard time increasing my TP of more than 20pips. Yesterday, I tried my TMS strategy with 30 pips TP, but I ended up on the losing side because it only went to 28pips and went the opposite way. It's still a long way on learning on how to catch the best entry, I guess.

Thanks for your suggestion, Catalin. How I wish I could catch the winning pairs like you do.
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