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Trading Made Simple

  • #65,401
  • Feb 3, 2016 1:40am Feb 3, 2016 1:40am
Quoting TheScorpS
Set and forget EA trade long + 50 pips {image}
Great trade TheScorps...Thanks for sharing.

Do you use any SL and TP? What is your opinion?
FXafrica " it is in giving that you receive..."
  • #65,402
  • Feb 3, 2016 1:50am Feb 3, 2016 1:50am
Quoting emmanuel7788
Today we have EURAUD and EURCAD D1 setups {image}
Hi Emm,

Thanks for sharing.

I like D1 trade. My candles get refreshed at 12:00 (midnight). If the entry is there and we get in my questions are:

- Do you let it run for the entire day till the next candle refreshes?

- Do you exit the next day no matter what?

- Do we still apply the rules of "expect 2-3 candles profit - which in principle 2-3 days" (i can't know that because it only refreshes once a day)?

- Do the rules apply for anytime frame?

Many thanks in advance...
FXafrica " it is in giving that you receive..."
  • #65,403
  • Feb 3, 2016 1:55am Feb 3, 2016 1:55am
Big E - DAILY chart
"I guess what I don't like about the Dailies they have big pull back often and on a Daily chart that is a lot of pips... and as always I hate giving 1 pip back to my broker... I'll do more research on it... Thanks..."


Anyone here has any of his research specifically on D1 or your own after trading TMS for so many years.

Thanks for sharing.
FXafrica " it is in giving that you receive..."
  • #65,404
  • Feb 3, 2016 2:07am Feb 3, 2016 2:07am
Quoting emmanuel7788
{quote} What is a A+++ trade set-up? A technical setup is seen with Price Action at Support & Resistance as a Continuation in an established Trend. The Trend must be reconciled in three different timeframes using Multi TimeFrame analysis and there must be Momentum seen in both the real Price Bar and APB candles. The market must not be in narrow Range consolidation and the Timing must be right for market entry and when the market shows Volatility and Strength. Note: For reversal setups with entry using APB candle #1 and candle#2, these are aggressive...
HI Emm,

Would you please post a chart (or point me in the right direction) that shows Real Price, PA and APB? i am not sure it is clear for me...


Many thanks
FXafrica " it is in giving that you receive..."
  • #65,405
  • Feb 3, 2016 2:19am Feb 3, 2016 2:19am
optional trades for today -

USD JPY - 1H looks like nice setup. anyway ill wait for a better entrance in 4H

EURUSD - looks like the pair touch the resistence in 4H, waitng for setup.

EUR JPY - also touch ressitence, looking for setup in 1D.

EUR AUD - looks like setup almost ready in 1D, im in it anyway - hope the 1 day candle want surprise me.

cheers.
  • #65,406
  • Feb 3, 2016 2:22am Feb 3, 2016 2:22am
Quoting emmanuel7788
its 5am in London. Don't lose sleep just because you want to trade. yesterday, GBPAUD, GBPCAD and AUDNZD all ran nicely and you should have made the hundred of pips easily off the Day chart. Plan your trades, .. Build your positions and Run your profits. that's PLAN, BUILD and RUN.
I am not sure if you are referring to me, but I am in the far east now .I hope to be back in the UK in 2 months from now..I go to sleep just after Lon. closes
the cautious seldom err....C
  • #65,407
  • Feb 3, 2016 2:55am Feb 3, 2016 2:55am
Quoting pips29
{quote} I am not sure if you are referring to me, but I am in the far east now .I hope to be back in the UK in 2 months from now..I go to sleep just after Lon. closes
Didn't know you are in the far east now.
I was online this morning and few PMs from folks living in the UK asking about trade setups when Tokyo open.
I have to send them back to bed...

BTW, long holidays coming up in Asia next week.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #65,408
  • Feb 3, 2016 2:59am Feb 3, 2016 2:59am
yup. chinese new year
the cautious seldom err....C
  • #65,409
  • Feb 3, 2016 2:59am Feb 3, 2016 2:59am
Quoting Fxafrica
{quote} HI Emm, Would you please post a chart (or point me in the right direction) that shows Real Price, PA and APB? i am not sure it is clear for me... Many thanks

TMS alone won't make you big money. You can make some money like many people like to. But you want to make big money to supplement your annual income, you need to know something else. Big E mention "PA and supp/res" but he never shared anything about PA and Support and Resistance.

That's PASR...
PASR=Price Action Support and Resistance
Start with this Post# 53,670
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #65,410
  • Feb 3, 2016 3:01am Feb 3, 2016 3:01am
Quoting pips29
yup. chinese new year

yes, that's their spring festival.
so be careful what the Chinese may do when their markets are closed...
they have done it before, and they can do it again.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #65,411
  • Feb 3, 2016 3:05am Feb 3, 2016 3:05am
Quoting Fxafrica
Big E - DAILY chart "I guess what I don't like about the Dailies they have big pull back often and on a Daily chart that is a lot of pips... and as always I hate giving 1 pip back to my broker... I'll do more research on it... Thanks..." Anyone here has any of his research specifically on D1 or your own after trading TMS for so many years. Thanks for sharing.

that's one of Big E 'weakness' in trading.
he trade wit fix lot sizes like 3 to 5 standard lots per entry.
when market pull back 20 pips on his 5 standard lots, that is -$1000 ... he can't take that.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #65,412
  • Feb 3, 2016 3:05am Feb 3, 2016 3:05am
EA short +400 pips , multiple positions
Attached Image (click to enlarge)
Click to Enlarge Name: EA_H1.jpg Size: 350 KB
I Have Learned to Take Some Losses to Make Profits
  • #65,413
  • Feb 3, 2016 3:12am Feb 3, 2016 3:12am
Quoting TheScorpS
EA short +400 pips , multiple positions {image}

that is only 1 position but with 10 trade entries...
you need to look at the average entry price of all 10 trades, which is the average entry price of that 1 position.
total 400pips divide by 10 trades, that the average pips 40pips per trade.

if your risk is 2% per position, that is 0.2% per trade.
the $profit per trade is important , not just the total pips.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #65,414
  • Feb 3, 2016 3:22am Feb 3, 2016 3:22am
Quoting emmanuel7788
{quote} TMS alone won't make you big money. You can make some money like many people like to. But you want to make big money to supplement your annual income, you need to know something else. Big E mention "PA and supp/res" but he never shared anything about PA and Support and Resistance. That's PASR... PASR=Price Action Support and Resistance Start with this Post# 53,670
Thx for this link I hadn't seen it before!
  • #65,415
  • Feb 3, 2016 3:24am Feb 3, 2016 3:24am
Quoting Fxafrica
{quote} Great trade TheScorps...Thanks for sharing. Do you use any SL and TP? What is your opinion?
Yes 50 pips stop and 50 pips take profit most of the times , good luck to ur TMS trading
I Have Learned to Take Some Losses to Make Profits
  • #65,416
  • Feb 3, 2016 3:46am Feb 3, 2016 3:46am
I just made 1000 pips in my dreams 😜
  • #65,417
  • Feb 3, 2016 3:46am Feb 3, 2016 3:46am
Hi guys,

Yesterday I took a short entry in AUDUSD 4H after a BEOB and after forming a LH. TDI had not closed across but crossing so this is agressive entry I think. But I had noticed that on this type of BEOB the TDI set to TP hardly ever crosses on APB #1. Is this a correct entry?

The 4H BEOB rolled into a D1 BEOB. So I decided to try and manage as a D1 position trade (this is probably advanced and pretty hard but anyhow)

I re-entered at 0.7005 locking in 2.3%

Currently in heavy DD. We have confluence on the 15M chart with WOL + Previous structure + Yesterday 50% retracement. I took a new short on the 15M TDI cross.

We'll see how this goes !

Best,
Attached Image (click to enlarge)
Click to Enlarge Name: AU.png Size: 87 KB
  • #65,418
  • Feb 3, 2016 3:48am Feb 3, 2016 3:48am
Quoting Dimi.A
{quote} No, sorry you're not right there. Big E knowingly stated that he didn't trade with a stop loss. Now think about this for a second. Big E said he would cut his trades off at "15 pips". And he also mentioned that he would leave his trades on overnight while he "napped". How did he cut his trades off at 15 pips while he was napping and he didn't have a stop loss? Exactly... So there were times that Big E would have been in drawdown. Have a look at his old chart examples, there are trades he took which went against him over 50 pips first before...

Here's an extract from our OP:

During the day time: If I'm in a 1 or 4 hr trade I monitor the trade by glancing at the active chart ever now and then... every 5 - 15 or 30 min. When I'm up 30-40 pips I usually drop in a S/L at break even + the spread and don't check back for an hour or so....

At Night: I only look at the 4hr charts. If there is a set up I'll take the trade, place a S/L at the last hi or lo and go to bed. I check it again in the morning when I get up. If I wake up during the night I'll take a peek usually... moving my S/L up to lock in profit and then check it again when I wake up.


So at night he used a large emergency SL I think...

Best,
  • #65,419
  • Edited 6:57am Feb 3, 2016 3:54am | Edited 6:57am
Quoting Fxafrica
{quote} He says: "I never knowingly take a draw back of 40-50...
No, sorry you're not right there. Big E knowingly stated that he didn't trade with a stop loss.

Now during the times that he did use a "stop loss" while he was sleeping there were times that Big E would have been in drawdown even if he used an emergency stop loss at the "last high". Why? Because the last high on a 4H chart can be anywhere from 40 to 150 pips away at times or even more.

Have a look at his old chart examples and go to those charts in MT4 and count the drawdown. There are trades he took which actually went against him over 50-60 pips first before turning around and going his way. But he would pull through and extract pips from the market this way.

Now, you seem to be whinging about having a "small account". That's fine. If you're running a small account you need to drop your lot sizes down so you can accommodate the larger stop loss.
Common sense.

Read the whole PDF i sent you again and soak your brain with information before posting suggestions please.

If you need help or have an issue send me a PM as I don't want to clutter the thread with meaningless banter.
I've sent you a PM, we can continue the conversation there if you need to.
  • #65,420
  • Edited 5:47am Feb 3, 2016 3:55am | Edited 5:47am
Quoting tibovwh
{quote} Here's an extract from our OP: During the day time: If I'm in a 1 or 4 hr trade I monitor the trade by glancing at the active chart ever now and then... every 5 - 15 or 30 min. When I'm up 30-40 pips I usually drop in a S/L at break even + the spread and don't check back for an hour or so.... At Night: I only look at the 4hr charts. If there is a set up I'll take the trade, place a S/L at the last hi or lo and go to bed. I check it again in the morning when I get up. If I wake up during the night I'll take a peek usually... moving my S/L...
That's right. Emergency stop loss at the "last high". The last high on the 4H chart. Think about the size of that stop loss on a 4H chart and refer to my edited post above.

Any way guys, I won't be responding to these types of posts any more so let's get back to sharing helpful information please.

Share your trades, your entries and your issues. I'm on the charts now waiting for my next entries. You should all be looking at your charts too.
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