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Trading Made Simple

  • #65,741
  • Feb 13, 2016 8:07am Feb 13, 2016 8:07am
Quoting pete.alfa
{quote} Thank you TheScorpS for your 1 hour method(very simple & easy to understand). And also thanks for Phx62 study books(I will have something to read about 450 pages) Best regards
As TheScorps has pointed out, those pdf's contain a wealth of information about how the tdi reacts, what to look for and how to trade. Read every single word in there over and over, and you won't go far wrong, then open a small live account and practise, practise, pracise on just one currecy if necessary until you see what he saw, then you can apply it to other currencies as you see fit when you have become profitable, which you will.
  • #65,742
  • Feb 13, 2016 8:25am Feb 13, 2016 8:25am
Quoting emmanuel7788
{quote} Hi Dennis, Basic rule for trade management is : when you trade D1 chart timeframe, you manage only in that chart timeframe. Do not manage in lower timeframe. Another rule is to add positions only with banked in profits from earlier positions. Make your money work for you. The money you make in the market is your money, it is not 'house money' which only gamblers think. Think like an investor , trade like an investor. Add positions when the dominant trend in which you are trending is still intact and that last setup is still valid. There...
EMMA,
Hi, thank you for your posts about AUDJPY which taught me how to trade MEME step by step. this is really helpful for me to understand MEME trading method. i also trade AJ PAIR with DEMO account last week. on thursday there is huge pullback on D TF as USDJPY pair which mean high possiblity to be in consolidation in few days. but my problem is i have opened 5 MEME orders during Thursday pullback and Friday, how can i handle those orders? in simple words， if you alrealdy open several positions with MEME before the price go into consolidation area, will you close all those orders, or wait for more time to make the next trade decision which may cause more loss?
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  • #65,743
  • Feb 13, 2016 8:36am Feb 13, 2016 8:36am
EURCAD: Big Picture

When Monday open EURCAD could be crossing down. Nice shooting star + BEEB. Is this a also a correct PCRF on a D1 chart?!

Would this be a possible short for next week or is it too early?

Best,
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  • #65,744
  • Feb 13, 2016 8:38am Feb 13, 2016 8:38am
In the build up phase of ME/ME, at the moment when you decide to place the first entry, do you place a max of four entry limits at the opposit direction hoping for a better price?
  • #65,745
  • Feb 13, 2016 8:45am Feb 13, 2016 8:45am
Quoting pinoismo
In the build up phase of ME/ME, at the moment when you decide to place the first entry, do you place a max of four entry limits at the opposit direction hoping for a better price?
Hi Pino,

This is one possibility. However, keep in mind, that when building a positions you want to spread out your entries both in terms of PRICE and in terms of TIME. Emmanuel advocates a minimum pip distance (based on ATR) and a minimum 4H delay between entries. Ultimatly, you have to find what works for you.
  • #65,746
  • Feb 13, 2016 8:48am Feb 13, 2016 8:48am
Quoting lastingwell
{quote}As TheScorps has pointed out, those pdf's contain a wealth of information about how the tdi reacts, what to look for and how to trade. Read every single word in there over and over, and you won't go far wrong, then open a small live account and practise, practise, pracise on just one currecy if necessary until you see what he saw, then you can apply it to other currencies as you see fit when you have become profitable, which you will.
Thanks lastingwell for helping me here , good luck for all
I Have Learned to Take Some Losses to Make Profits
  • #65,747
  • Feb 13, 2016 8:58am Feb 13, 2016 8:58am
Thanks
Quoting tibovwh
{quote} Hi Pino, This is one possibility. However, keep in mind, that when building a positions you want to spread out your entries both in terms of PRICE and in terms of TIME. Emmanuel advocates a minimum pip distance (based on ATR) and a minimum 4H delay between entries. Ultimatly, you have to find what works for you.
Thanks tibovwh. Can I ask what's the minimum 4H delay?
  • #65,748
  • Feb 13, 2016 9:24am Feb 13, 2016 9:24am
Quoting pinoismo
Thanks {quote} Thanks tibovwh. Can I ask what's the minimum 4H delay?
In case there is a huge news spike that takes out your SL in one go (even if its really far, it can happen) and you have your limit orders placed alltogether then they will all fill and your loss will always be for your full risk%. If you allow for entries to be spread over time, i.e. atleast 4h between 2 entires, you will not have this problem.
  • #65,749
  • Feb 13, 2016 9:50am Feb 13, 2016 9:50am
Quoting kevinfeng
{quote} EMMA, Hi, thank you for your posts about AUDJPY which taught me how to trade MEME step by step. this is really helpful for me to understand MEME trading method. i also trade AJ PAIR with DEMO account last week. on thursday there is huge pullback on D TF as USDJPY pair which mean high possiblity to be in consolidation in few days. but my problem is i have opened 5 MEME orders during Thursday pullback and Friday, how can i handle those orders? in simple words， if you alrealdy open several positions with MEME before the price go into...
You have some big floating loss there..why trade this way?..It's such a pain
the cautious seldom err....C
  • #65,750
  • Feb 13, 2016 1:07pm Feb 13, 2016 1:07pm
Quoting kevinfeng
{quote} EMMA, Hi, thank you for your posts about AUDJPY which taught me how to trade MEME step by step. this is really helpful for me to understand MEME trading method. i also trade AJ PAIR with DEMO account last week. on thursday there is huge pullback on D TF as USDJPY pair which mean high possiblity to be in consolidation in few days. but my problem is i have opened 5 MEME orders during Thursday pullback and Friday, how can i handle those orders? in simple words， if you alrealdy open several positions with MEME before the price go into...

Hello kevingfeng:

just like to share my thoughts about your chart.

Best regards
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  • #65,751
  • Feb 13, 2016 2:20pm Feb 13, 2016 2:20pm
Quoting emmanuel7788
Mastering TMS alone is not enough to be a successful profitable trader. TMS is nothing more than just a simple trend trading method know as the 5-Method. You also need to master money management and managing your mental fitness to achieve and maintain consistent profitability over a long term. {image} To achieve Peak Performance, we must work on and master the MindSet part.
Thanks so much Emm!!
This chart gives me a great overview of my long journey ahead in TMS and money management
  • #65,752
  • Feb 13, 2016 3:52pm Feb 13, 2016 3:52pm
USDJPY looks good to me. Should we start building in here?
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  • #65,753
  • Feb 13, 2016 4:39pm Feb 13, 2016 4:39pm
I just got confused about the different TDI Indicators, I am currently using the Synergy_Pro_TDI.

Is there a `right` version of the indicator that we should use for the TMS?

What are the Pros and Cons or the different use of the Version that moves with every tick and the one that updates when the next candle is opening?
  • #65,754
  • Feb 13, 2016 4:47pm Feb 13, 2016 4:47pm
Quoting tibovwh
Also: Here's the excel sheet I was talking about. I use to to calculate position sizes. Feel free to have a look and if you spot room for improvement, be sure to let me know! Unfortunatly, it is in , but the idea stays the same! Best, {file}
Hello Tibovwh

I use this Position Calculator to calculate position sizes every time I trade ME/ME. It saves me a lot of time so that I can focus on other areas of trading. And for cross currency pairs, you don't need to worry about calculating the pip value, it will work out for you. Below picture is a demonstration of how it works.


Hope this will help you.


Best regards,


ps. I found that the actual risk money is slightly different, but just a few dollars short, I'm not sure the reason, but it's okay for me.
Attached Image (click to enlarge)
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File Type: zip PositionCalculator.zip   103 KB | 401 downloads
  • #65,755
  • Feb 13, 2016 5:32pm Feb 13, 2016 5:32pm
Quoting emmanuel7788
{quote} spending too much time into those pdfs won't make you successful. better spend your time in forward testing in live market everyday with a demo account. your will learn more doing forward testing, you will learn to observe how the market move ... price action in realtime, you will learn to observe how the TDI reacts to the real price action in realtime, you will learn about yourself and how you will manage your trading psychology when you are trading live and reacting to the market movements, you will learn and apply your money management...
Thank you Emmanuel
That was my mistake - studied studied & studied more than trading. Now I concentrate on live trade will post some chart and there will be more questions to come.

Thank you for look after us
  • #65,756
  • Edited 6:59pm Feb 13, 2016 5:43pm | Edited 6:59pm
Quoting lastingwell
{quote}As TheScorps has pointed out, those pdf's contain a wealth of information about how the tdi reacts, what to look for and how to trade. Read every single word in there over and over, and you won't go far wrong, then open a small live account and practise, practise, pracise on just one currecy if necessary until you see what he saw, then you can apply it to other currencies as you see fit when you have become profitable, which you will.
Thanks lastingwell & TheScorps for helping me

I read Phx62 study I up to page 72 very good info indeed. I will concentrate more on practising EU(and GU if there is no action on EU) only during london session & I also will continue reading when I have spare time. Now I knew trading 1hr chart there is no need to look another TF only 1hr chart will do - I'm working on that.

Best regard
  • #65,757
  • Feb 13, 2016 6:09pm Feb 13, 2016 6:09pm
Quoting emmanuel7788
{quote} Hi Dennis, Basic rule for trade management is : when you trade D1 chart timeframe, you manage only in that chart timeframe. Do not manage in lower timeframe. Another rule is to add positions only with banked in profits from earlier positions. Make your money work for you. The money you make in the market is your money, it is not 'house money' which only gamblers think.
Hi Emmanuel
If we miss the first entry(the profit one) so we should not entry any trade during pullback(build the positions) because chances are losing trade during pullback. Am I correct?

Best regards
  • #65,758
  • Feb 13, 2016 7:41pm Feb 13, 2016 7:41pm
Hello,

I read this thread until page 50 in this weekend . I am going to test this method next week. I just want to make sure if my check list is right or I need to add something more. I prefer 4H .Thanks in advance.

1- Check daily news and time ( prefer to close before US open time)
2- Check TDI for cross
3) check the angles of green line ( 12-2, BUY & 4-6 SELL)
4) Check TDI not in 68 for BUY and 32 for SELL
5) Check the size of past candle -color of candle- #1 or #2 candles
6)Not open near S/R and pivot lines
7) check past swings : ( not in the same direction : Sell & SL or BUY & SH)
8) Check direction of stochastic
9) Not buy in 80 or Sell in 32
10) Not in the range Market
11) Direction of or pass through the 5 EMA = double confirm
12) Close before US open time
  • #65,759
  • Feb 13, 2016 7:47pm Feb 13, 2016 7:47pm
Quoting mousteven
{quote} Hello kevingfeng: just like to share my thoughts about your chart. Best regards {image}

Thank you mousteven for your reply.
Actually i have also build MEME orders during build phase you metioned in the picture and close them in profit. But i re-open order after that as emma do(on the picutre of his AUDJPY update5, he also re-opened some orders as me), but i dont know if he closed them or not because on his post he just said I will be closing most of my positions today and not risking anything over this weekend. (post 65698).
I believe that when we trade MEME method, we can not avoid such thing because we dont know when the price will pullback. For example, EURUSD keep long for few days last week and now it also might be in consolidation because of FEB 9TH BIG candle or reversal after i opened 3 orders.
Shall we close those orders or just wait for more days before making decision?
Attached Image
  • #65,760
  • Feb 13, 2016 9:16pm Feb 13, 2016 9:16pm
Quoting kevinfeng
{quote} Thank you mousteven for your reply. Actually i have also build MEME orders during build phase you metioned in the picture and close them in profit. But i re-open order after that as emma do(on the picutre of his AUDJPY update5, he also re-opened some orders as me), but i dont know if he closed them or not because on his post he just said I will be closing most of my positions today and not risking anything over this weekend. (post 65698). I believe that when we trade MEME method, we can not avoid such thing because we dont know when the...

hi kevin,

I will reply you later today as need to see my live trade chart but I have no access to my remote VPS now. My VPS trading server is now under weekend maintenance and will not be available till 8pm my local time.

you may recall my trade plan for AJ is from 8 Feb to 19 Feb ( 2 weeks) and I still have my trades open when New York closed last Friday. If you have started your trades on 8 Feb like I did, you will have some banked in profits. My banked in profits is more than sufficient to cover my exposure of the 5 open trades which I kept open over this weekend. The trend is still intact, there is not invalidation of the AJ setup and also there is no reversal. The pull back on Friday is huge but within tolerance. My concern is still what will happen on Monday when China market resume trading and also what the Chinese authorities will do if their market crash again.
On the other end, Japan' BoJ is not standing aside and doing nothing about their cheap Yen. But there is only that much the central banks of the big economies can do at the moment.

based on my last trade update, there is still the hard stop loss which is -400pips above the average price of all open trades. As of NY close last Friday, I have 5 open trades. Do you know your average entry price for your 5 open trades?

the other important thing is the SMART_CutLoss levels which is between 81.37 and 82.10
or you can use the Open of 10 Feb and 10 pips above the High of 10 Feb by following the price action on the Day chart of our trades.

the other thing which I hope you took notice is the 10 Feb Day Inside Bar and the breakout was on 11 Feb. Did you take advantage of that breakout?

hang on for now,


for those who did not follow this AJ trade,

here are the links from start and all the updates so far.

AUDJPY Week 06 MEME
The trade PLAN
http://www.forexfactory.com/showthre...39#post8737439
Trade plan execution
Day 1 _ first trade on 8 Feb
http://www.forexfactory.com/showthre...92#post8740792
Day_2 the updates 9 Feb:
http://www.forexfactory.com/showthre...39#post8741139
http://www.forexfactory.com/showthre...70#post8743170
Day_3 update 10 Feb :
http://www.forexfactory.com/showthre...68#post8746668
Day 4 update 11 Feb:
http://www.forexfactory.com/showthre...75#post8749375

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