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Trading Made Simple

  • #65,661
  • Feb 10, 2016 5:39pm Feb 10, 2016 5:39pm
Quoting Bladerunn3r
Hello guys, some advice if possible. I have just purchased a new android phone and have installed the MT4 Mobile app on it. I can see that custom indicators are not possible so my question is, whats the best way to create a similar indicator to the TDI from the available indicator list? Edit.. Problem solved I think, using the double MA (2 and 5 sma on a blank RSI) and it looks pretty good.
. Look at post #65103
  • #65,662
  • Feb 10, 2016 5:41pm Feb 10, 2016 5:41pm
GBPCAD:

MN in consolidation
W1 in consolidation seen by IB. Previous week: Bullish

D1 Tested 1.99 again with a long wick and closed bullish yesterday. TDI crossed.

I will try to build ME/ME position with positions atleast 80 pips apart. We will see how it turns out.

Best,
Attached Image (click to enlarge)
Click to Enlarge Name: Schermafdruk 2016-02-11 00.36.40.png Size: 84 KB
  • #65,663
  • Feb 10, 2016 6:11pm Feb 10, 2016 6:11pm
Quoting TheScorpS
EA short +30 pips and a re-entry at LO for regular +50 pips = 80 pips for the day {image}
Hi TheScorpS fantastic 1hr trade

Do you trade EurAud only? at the moment I am looking for suitable 1hr method to trade during free time. Do you mind to share your method(briefly)?

Thank you
  • #65,664
  • Feb 10, 2016 6:17pm Feb 10, 2016 6:17pm
Quoting tibovwh
GBPCAD: MN in consolidation W1 in consolidation seen by IB. Previous week: Bullish D1 Tested 1.99 again with a long wick and closed bullish yesterday. TDI crossed. I will try to build ME/ME position with positions atleast 80 pips apart. We will see how it turns out. Best, {image}

MN is sideways , but very wide range. this years' target is the high of 2015.

W1 - we have a Bullish Engulfing Bar BUEB close last week, and with 1.9900 as support, this week is buy with ME/ME.

the ADR (100days) is about 190 pips, use this for the trade lot size.

minimum distance between trades, is 0.5ADR(100)... ca 95pips, round up to 100pips distance between each ME trade entry.

D1 chart - couple of near term resistance, these should not pose any problem when we trade with ME/ME ... but that historical resistance 2.0450 RN 2.0500

other factors:

- Chinese market will re-open on Mnday next week. Be prepared.

- USDCAD is sideways, look out for bullish reversal which will help this pair.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPCAD Week 06 BPP.png Size: 96 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #65,665
  • Feb 10, 2016 6:19pm Feb 10, 2016 6:19pm
Quoting tibovwh
Two closed trades EURCAD 4H Short and EURUSD 4H Short. Taken at 12:00 CET EURCAD: 95pips = 0.8R = 1.6% {image} EURUSD: 76pips = 1R = 2% Closed half at 1.12 and half at Yesterday Low {image} pictures are GIF's
Hi tibovwh Fantastic trades

EURCAD - counter trend trade
EURUSD - Range trading

Cheers,
  • #65,666
  • Feb 10, 2016 6:27pm Feb 10, 2016 6:27pm
Quoting tibovwh
{quote} Hi there, These signals have been pretty good! I was wondering if you were still holding this. These are the tricky parts imo... i.e. when EURAUD hits the previous structure we can expect some resistance. Should we be happy with what we got or try to hold for longer. I would love to see how you managed this position if this is possible. Best,

hi,

both these pairs are running nicely in profits since this month open.
remember this is D1 chart trading, and we are still in the BUILD phase, still early for the RUN phase.
use same entry and exit strategy as for AUDJPY, but different ADR(100) day.
EURAUD ADR(100) is 215pips
EURCAD ADR(100)) is 185pips

should start looking at EURNZD too (PLAN phase) and to be prepared when things starts running again.
Also the GBP crosses - GBPAUD, GBPCAD and GBPNZD.

Trade Well,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #65,667
  • Feb 10, 2016 7:59pm Feb 10, 2016 7:59pm
Quoting emmanuel7788
EURAUD BEFORE: {image} AFTER: {image} did someone missed the first H1 setup?
Who caused that sharp sell..? then continuation..
Could it be the big boys hunting stops clearing the sell orders before driving the price higher.. i wonder..
By failing to prepare, you are preparing to fail - Benjamin Franklin
  • #65,668
  • Feb 10, 2016 8:20pm Feb 10, 2016 8:20pm
Quoting Downunder
{quote} Who caused that sharp sell..? then continuation.. Could it be the big boys hunting stops clearing the sell orders before driving the price higher.. i wonder..
To me its just the course nature of how price moves, EUR/AUD on the daily chart has finished 5 waves upside, so yesterdays was wave A correction into zigzag ABC correction, so sell off might continue u a lot more
I Have Learned to Take Some Losses to Make Profits
  • #65,669
  • Feb 10, 2016 10:56pm Feb 10, 2016 10:56pm
Quoting emmanuel7788
{quote} AUDJPY ME/ME trades update_2 10 Feb: so far taken 400pips profits. we had some retracement today so it was possible to add ME trades at 0.5ADR distance. shown here in H4 for better clarity where the entries were. {image}

AUDJPY Week 06 ME/ME trades Update 11 Feb.

Total trades profits taken so far - 671 pips
with re-entry now at 79.80.
next target level is 79.11.

trades shown here in H4 for better clarity of the entries.
Attached Image (click to enlarge)
Click to Enlarge Name: AUDJPY Week 06 D1 chart trades 11Feb update 3.png Size: 43 KB


below the D1 chart view of same trades.

Attached Image (click to enlarge)
Click to Enlarge Name: AUDJPY Week 06 D1 view 11Feb update 3.png Size: 36 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #65,670
  • Feb 10, 2016 11:27pm Feb 10, 2016 11:27pm
Quoting emmanuel7788
{quote} AUDJPY Week 06 ME/ME trades Update 11 Feb. Total trades profits taken so far - 671 pips with re-entry now at 79.80. next target level is 79.11. trades shown here in H4 for better clarity of the entries. {image} below the D1 chart view of same trades. {image}
Hi Emmanuel

as always, very impressive!!!

I know you had mentioned that, you need to know all three way of trading as you do, daily, swing etc.

Just curious, what percentage of your monthly earning is from daily position building trades? Do you leverage higher for 4hr swing trades and intraday trades?

Thanks,
  • #65,671
  • Feb 10, 2016 11:50pm Feb 10, 2016 11:50pm
Hi Folks,

I get numerous PMs from members asking if I use an EA expert advisor for TMS trading. For those who asking if I use a trading robot EA, the answer is NO.
But I use a trade manager EA to manage my trades when I don't have time to login and look into my remote VPS where I run all my live trades.

The trade manager EA which i used for many years is known as Multi Purpose Trade Manager MPTM and there have been newer version available.
Please go to this Commercial Content forum where you will find MPTM.

Go to this link and follow from that point onwards,

http://www.forexfactory.com/showthre...06#post8746706

Sorry I can't answer all PMs about MPTM because I simply don't have time anymore these days. Priority has changed, I have to stop trading H1 intraday and focus more in my D1 chart position trading which I need only to login once a day at minimum.

I also have PMs from members who genuinely need help to get profitable. I will try my best and need to find time to think of ways to help you. Please be patient becasue learning to trade takes time. You don't become a trader in weeks or months. You need to have a structured education approach and follow that.

Trade Well.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #65,672
  • Feb 11, 2016 1:44am Feb 11, 2016 1:44am
Quoting emmanuel7788
{quote} AUDJPY Week 06 ME/ME trades Update 11 Feb. Total trades profits taken so far - 671 pips with re-entry now at 79.80. next target level is 79.11. trades shown here in H4 for better clarity of the entries. {image} below the D1 chart view of same trades. {image}
Thanks again for this update!

I see that for the average entry price you only use the current active trades to calculate. So you don't actually use the previous profits in this calculation and consider these "banked"?

The concept of the hard emergency SL of 400 pips is clear to me and makes sense. But I think you will hardly ever let it hit this, right? Do you know, for this trade, exactly when you will cut losses? Is this purely based on %-risked or is it more complex? Because I don't fully understand why you don't place your actual cut-loss level in the market as news spikes can happen...

Did you use volatility based position sizing for these trades? i.e. if you risk 0.2% of 10.000 per entry you risk 20 with a pip value of 8.3 and ADR of 120, this means your $ADR is 996 so per entry we use 0.02 lot? Is this calculation correct?

Sorry for all these questions... I hope you don't mind

Best,
  • #65,673
  • Feb 11, 2016 3:18am Feb 11, 2016 3:18am
Quoting emmanuel7788
{quote} Hi, yes, technically we see bearish momentum. and with the current stock market conditions, investors are flocking to safe haven currencies. so shorting the JPY pairs make sense for a while more until we see some support. keep ears on the ground for BoJ action anytime. regards, Edit: we are still in BUILD phase, then when she drop between 79 and 76 is where we can 'let profits run'

AJ

we are in the RUN phase...

if you miss that falling knife, what shall you do now?
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #65,674
  • Feb 11, 2016 3:27am Feb 11, 2016 3:27am
Quoting emmanuel7788
{quote} XAUUSD - the next candle which close above 1206 will be one big candle... {image}

XAUUSD 11 Feb

we have big candle today, but will it close above 1206?
be patient and wait.

what shall you do tomorrow?

you know you will want to buy,right?

Attached Image (click to enlarge)
Click to Enlarge Name: XAUUSD Week 06 11 Feb 1206 breech.png Size: 54 KB


then next level is in sight but still many days ahead.

remember the Chinese market re-opens on Monday.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #65,675
  • Feb 11, 2016 3:44am Feb 11, 2016 3:44am
Quoting emmanuel7788
{quote} MN is sideways , but very wide range. this years' target is the high of 2015. W1 - we have a Bullish Engulfing Bar BUEB close last week, and with 1.9900 as support, this week is buy with ME/ME. the ADR (100days) is about 190 pips, use this for the trade lot size. minimum distance between trades, is 0.5ADR(100)... ca 95pips, round up to 100pips distance between each ME trade entry. D1 chart - couple of near term resistance, these should not pose any problem when we trade with ME/ME ... but that historical resistance 2.0450 RN 2.0500 other...
​Hi Emm, Can I just clarify what your doing with ME/ME do you only add to position once you have exited another position? so, open one then close, then open another then close etc? or do you have multiples running at the same time?
  • #65,676
  • Feb 11, 2016 4:34am Feb 11, 2016 4:34am
The ME/ME trades for 2016 Week 6

I just closed all the profitable trades for this week and still have 1 open trade for AUD/JPY and another one for EUR/JPY in the market, I plan to hold the trades and wait for tomorrow morning to see the close of their daily candlesticks, I expect some retracements then I can decide whether to hold or close.

The market has a significant move during this week as worldwide stocks fall and central banks look powerless, so we had many good opportunities to trade safe-haven JPY pairs using ME/ME method.

I do really appreciate Emmanuel7788 for the great support, guidance and advice to improve me and this beautiful community TMS, I am still learning hard to become a stable trader. You are always like the master to lead us to the right way, I know I am still too far to reach to your level, but I keep learning, repeating and understanding what you have written in this thread. Every time I go back to read the previous posts, I gain deeper understanding

The summary for Week 6 is shown below:
Total Trades: 82
Winning Trades: 77
Losing Trades: 5
Average Winning Pips per Trade: 48.23
Average Lot Size per Trade: 0.2
Average Winning Amount per Trade: $123.29
Attached Image (click to enlarge)
Click to Enlarge Name: week 6.png Size: 25 KB
  • #65,677
  • Feb 11, 2016 5:03am Feb 11, 2016 5:03am
Quoting teslaYoung
The ME/ME trades for 2016 Week 6 I just closed all the profitable trades for this week and still have 1 open trade for AUD/JPY and another one for EUR/JPY in the market, I plan to hold the trades and wait for tomorrow morning to see the close of their daily candlesticks, I expect some retracements then I can decide whether to hold or close. The market has a significant move during this week as worldwide stocks fall and central banks look powerless, so we had many good opportunities to trade safe-haven JPY pairs using ME/ME method. I do really appreciate...

Very good ... you have achieved a high level.

Inserted Video
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #65,678
  • Feb 11, 2016 5:11am Feb 11, 2016 5:11am
Quoting teslaYoung
The ME/ME trades for 2016 Week 6 I just closed all the profitable trades for this week and still have 1 open trade for AUD/JPY and another one for EUR/JPY in the market, I plan to hold the trades and wait for tomorrow morning to see the close of their daily candlesticks, I expect some retracements then I can decide whether to hold or close. The market has a significant move during this week as worldwide stocks fall and central banks look powerless, so we had many good opportunities to trade safe-haven JPY pairs using ME/ME method. I do really appreciate...
Hi Tesla Young

Great Trading.
This is the way to make consistent and stable profit with less stress from FX trading. Please can you post the details account history (CSV or excel) for this period to understand ME/Me in more detailed.

How much was max floating loss in this period (DD in this report shows only loss booked.)

Have you used any EA to open M entry and after that to manage Trade like TP for basket, BEP, Trailing Stop etc.

I am also exploring ME with Daily TDI cross.... only from this week need to wait for couple of weeks to see some outcome.


Thanks


MK
  • #65,679
  • Feb 11, 2016 5:33am Feb 11, 2016 5:33am
Quoting tibovwh
{quote} Thanks again for this update! I see that for the average entry price you only use the current active trades to calculate. So you don't actually use the previous profits in this calculation and consider these "banked"? The concept of the hard emergency SL of 400 pips is clear to me and makes sense. But I think you will hardly ever let it hit this, right? Do you know, for this trade, exactly when you will cut losses? Is this purely based on %-risked or is it more complex? Because I don't fully understand why you don't place your actual cut-loss...

Hi,

The average entry price is calculated using the open trades - entry price and lot size. Closed trades/positions goes into the account balance.

About SMART-Cut Loss, read these posts:
http://www.forexfactory.com/showthre...00#post8555100
http://www.forexfactory.com/showthre...09#post8555209

Trading the D1 Position trading, you don't worry about spikes caused by news. Just go back to your charts, how often do news spikes hit 2-day look back.

All trades are based on ADR-100 days to calculate the trade lot size. I said before, there is a system variable which you do not see on my charts.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #65,680
  • Feb 11, 2016 5:40am Feb 11, 2016 5:40am
Quoting mkfx
{quote} Hi Tesla Young Great Trading. This is the way to make consistent and stable profit with less stress from FX trading. Please can you post the details account history (CSV or excel) for this period to understand ME/Me in more detailed. How much was max floating loss in this period (DD in this report shows only loss booked.) Have you used any EA to open M entry and after that to manage Trade like TP for basket, BEP, Trailing Stop etc. I am also exploring ME with Daily TDI cross.... only from this week need to wait for couple of weeks to see...

Hi mkfx,

You do not trade ME/ME based on TDI cross on Day chart. That will not work.
You trade ME/ME by following then market dominant trend.

http://www.forexfactory.com/showthre...68#post8736468

The floating loss for open positions are within the hard stop loss and the SMART-Cut Loss levels. These are based on market volatility and are within your account margin and the account leverage you open with your broker.

Read my post above on SMART-Cut Loss.

Read all my posts this week on AUDJPY ME/ME trades done this week.

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