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Trading Made Simple

  • #65,901
  • Feb 17, 2016 4:58pm Feb 17, 2016 4:58pm
Quoting mortezakh
Hi and thanks for your reply My yesterday trade {image}{image}{image}{image}{image}{image}{image}{image}{image}{image}{quote}
Hi,

just one example using EUDAUD H1.

Big E post#647 pre-trade checklist -

- look at the candles at the last reversal...big , small, what. Why?
>>> big candle e.g. WRB, small candles e.g. IB,

- are we in or near consolidation?
>>> Do Not take a trade setup when market is in consolidation.

see example below on the chart you posted.

Always remember, TMS 5-Method is trend trading. We need to see a trend. But what is more important is we pick the right moment when there is price momentum, i.e. we pick the setup and entry candle which has momentum. Price Action reading the price bar (over the APB candle) will show if there is price momentum and the TDI will confirm this momentum. When you can read the price bar action, you are ahead of the TDI and will be well placed for trade decision.

Attached Image (click to enlarge)
Click to Enlarge Name: EURAUD H1 trend with momentum entry.png Size: 71 KB




regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #65,902
  • Feb 17, 2016 5:04pm Feb 17, 2016 5:04pm
Thanks a lot
One more questions
You advise me h1 with 20tp or h4 with 50tp ,or daily ???
I want to spend time for that please help Emanuel
Quoting emmanuel7788
{quote} Hi, just one example using EUDAUD H1. Big E post#647 pre-trade checklist - - look at the candles at the last reversal...big , small, what. Why? >>> big candle e.g. WRB, small candles e.g. IB, - are we in or near consolidation? >>> Do Not take a trade setup when market is in consolidation. see example below on the chart you posted. Always remember, TMS 5-Method is trend trading. We need to see a trend. But what is more important is we pick the right moment when there is price momentum, i.e. we pick the setup and entry candle which has momentum....
  • #65,903
  • Feb 17, 2016 5:07pm Feb 17, 2016 5:07pm
Quoting mortezakh
{image}{quote}

you have positive win rate - more wins than losses..
and you are trading with fix lot size all the time.
you can improve that win rate quite easily.

you may want to consider trading with %risk and position sizing?
also consider trading with multi-lots entry?
and how about scaling-out and scaling-in?
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #65,904
  • Feb 17, 2016 5:15pm Feb 17, 2016 5:15pm
Quoting mortezakh
Thanks a lot One more questions You advise me h1 with 20tp or h4 with 50tp ,or daily ??? I want to spend time for that please help Emanuel {quote}

you cannot simply use fix SL and TP for any pair.

different currency pairs have different volatility at different times of the day.
also the daily news / data release create volatility in H1 and lower.
this make trading H1 more difficult.

you need to know the market volatility of the currency pair you want to trade.

50pips SL for the EUR crosses and GBP crosses will not work all the time on H1. It will work on EURGBP very well.

learn about market volatility here:

http://www.investing.com/tools/forex...ity-calculator
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #65,905
  • Feb 17, 2016 5:16pm Feb 17, 2016 5:16pm
I get with 5000 balance 0.1 and 0.2
I get multi for test tp
I use 20 tp and 30 sl with h1 .i get a lot of positive but I think h1 its not always .whats your idea about h1 and h4 and tp and sl
Quoting emmanuel7788
{quote} you have positive win rate - more wins than losses.. and you are trading with fix lot size all the time. you can improve that win rate quite easily. you may want to consider trading with %risk and position sizing? also consider trading with multi-lots entry? and how about scaling-out and scaling-in?
  • #65,906
  • Feb 17, 2016 5:18pm Feb 17, 2016 5:18pm
Hi Emm!
Thanks for your enormous effort helping here!

Here is one of my successful baskets the last couple of weeks...
The Monster GJ!
It is definitely not as organized as yours but I do everything manually with a little spread sheet for position size and then hopefully in front of screen for good entries.
Missing a lot of add-on opportunities this way but I feel I am in control so all good for now.

All entries are with initial risk of 0.2% to a max of 5 positions for 1% risk total per currency/Basket.
I try to take profits on 4 entries and let the 5th one run till stopped out at later stage..have a nice 1000pipper running!!

Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYH4.png Size: 49 KB


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  • #65,907
  • Feb 17, 2016 5:21pm Feb 17, 2016 5:21pm
Quoting mortezakh
I get with 5000 balance 0.1 and 0.2 I get multi for test tp I use 20 tp and 30 sl with h1 .i get a lot of positive but I think h1 its not always .whats your idea about h1 and h4 and tp and sl{quote}

it is not about SL and TP.
trading is more risk and money management, plus knowing about entries and exits.

got to go now. have a meeting with my broker this morning to sort out my account type change.

talk later when London open.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #65,908
  • Feb 17, 2016 5:25pm Feb 17, 2016 5:25pm
Thanks Emanuel
Quoting emmanuel7788
{quote} it is not about SL and TP. trading is more risk and money management, plus knowing about entries and exits. got to go now. have a meeting with my broker this morning to sort out my account type change. talk later when London open.
  • #65,909
  • Feb 17, 2016 5:31pm Feb 17, 2016 5:31pm
Another trade currently running:
EG
Had it on my radar for a while to break sideways movement..
Once again, missed a few nice opportunities to add on but so be it

Attached Image (click to enlarge)
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Attached Image (click to enlarge)
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  • #65,910
  • Feb 17, 2016 6:09pm Feb 17, 2016 6:09pm
Hi Friends

Anyone missed Ucad broke out WRB H4. I was sleeping at that time
Next time I will set pending order

Cheers
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  • #65,911
  • Feb 17, 2016 7:51pm Feb 17, 2016 7:51pm
Quoting bigpips
Another trade currently running: EG Had it on my radar for a while to break sideways movement.. Once again, missed a few nice opportunities to add on but so be it {image} {image}
Hi bigpips, do you mined to share the indicator that observe the high and low with short green and red lines up and bellow the candle? Many thanks in advance.
  • #65,912
  • Feb 17, 2016 8:18pm Feb 17, 2016 8:18pm
Here is my USDCAD 17-FEB first time ME/ME - TMS trade on both real and demo account. Suggestions are welcome.
Attached Image (click to enlarge)
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  • #65,913
  • Feb 17, 2016 8:32pm Feb 17, 2016 8:32pm
Quoting mousteven
Hello Everyone: Like to share with you guys my EURCAD D ME/ME Trade SUMMARY The setup candle was on D chart 2/16 and I entered short. Only set 3 sell limit pending orders usign 0.5ADR(100) distance, just in case, I was busy and missed an entry when price went up. If need to enter the 4th entry, I would like to do it manually. Luckily, 2 pending orders got triggered when price retraced. And 2 hours ago, I closed them all to prevent giving back some of my profit to the market. There are several reasons that I wanted to close: 1. The price reached...
Hi mousteven sorry for my lack of understanding. I did not understand your entry. You took the bias from D1 and start your entry from H4? On H4 why you entered after 10 12 red candle in a row? On your H4 chart i can understand 1 valid entry but you did not take thatwhat rules are you applying to enter the market?
Sad i'm not trying to understand PA
  • #65,914
  • Feb 17, 2016 9:11pm Feb 17, 2016 9:11pm
How does one truly learn anything?

NOT by seeing example after example, BUT by understanding the WHY!

There are less then a handful of tireless individuals in here that share their thought process; in avoiding, jumping into, or sharing losing trades!

Majority only toot their own horn by posting chart after chart after useless chart. Some with charts that belong at the spaghetti factory, not even coming close to Big E's (R.I.P.) original, SIMPLICITY!

There are plenty of other threads where you can go crazy with your useless indicators.

Please have enough respect for the thread starter to keep things simple and inline with his dream and passion!

Peace!
  • #65,915
  • Feb 17, 2016 10:46pm Feb 17, 2016 10:46pm
Quoting omonisha
{quote} Hi mousteven sorry for my lack of understanding. I did not understand your entry. You took the bias from D1 and start your entry from H4? On H4 why you entered after 10 12 red candle in a row? On your H4 chart i can understand 1 valid entry but you did not take thatwhat rules are you applying to enter the market?
Omonisha:
Thank you for your comment and question~~ Sorry for not expressing well. Actually, my setup and initial entry, SL and TP were on all Day chart (right one), I entered few hours before the 2nd red candle closed. It was a big candle, so It usually would retrace for a while, so I placed sell limit pending orders with 0.5ADR distance to build position. So, basically, I just let them triggered automatically that was why in H4 chart those entries seems so awkward. (Maybe shouldn't post H4 chart for causing confusion)
I know that it would be better to build position and make entry in LTF when all TMS criteria meet. But I can't regularly monitor H4 chart while working and beside I hate when I missed good entry opportunity . I found D1 trading is suitable for my current lifestyle with higher winning rate. Please kindly share any advice to me so I can improve my trading everyday.
  • #65,916
  • Feb 17, 2016 11:18pm Feb 17, 2016 11:18pm
I'm in

I've been trading PA for a long time, I feel TMS could be a proper integration.
It's not over, until I win.
  • #65,917
  • Feb 18, 2016 12:49am Feb 18, 2016 12:49am
Quoting mousteven
{quote} Omonisha: Thank you for your comment and question~~ Sorry for not expressing well. Actually, my setup and initial entry, SL and TP were on all Day chart (right one), I entered few hours before the 2nd red candle closed. It was a big candle, so It usually would retrace for a while, so I placed sell limit pending orders with 0.5ADR distance to build position. So, basically, I just let them triggered automatically that was why in H4 chart those entries seems so awkward. (Maybe shouldn't post H4 chart for causing confusion) I know that it would...
These questions are all meant to understand for us the chart entry tp exit etc taking bias from the daily and make our entry on LTF to minimize risk.

1. You entered on daily candle that had moved near 500 pips. You didn't wait for it to retrace and give you signal for further move down. Don't you think you risked too much? Price could reversed. Where was price going to hit [ S/R ] first of that move? Did you anticipate that ?
2. Big move usually retrace. What sign was there it was retracing not reversing?
3. Set a limit order. There was a big bull candle on H4 after your entry. what did you see that it is retracing so you put a limit order ?
4. R:R ?

I have traded EURCAD too. Here is the chart closed 3 position already 1 remains. Do you see anything? You and i both entered near about same area.

Sorry for the Candlestick chart
Attached Image (click to enlarge)
Click to Enlarge Name: 2016-02-18_12-19-54EURCAD-H4.png Size: 50 KB
Sad i'm not trying to understand PA
  • #65,918
  • Feb 18, 2016 12:51am Feb 18, 2016 12:51am
Hi Emm. what is FO and IB and APB? Thank you so much. Your posts are so informative. Can you also post 1hr trades? Even if you don't take them I still belive that I could learn a lot from them...
  • #65,919
  • Feb 18, 2016 1:03am Feb 18, 2016 1:03am
Took some trades yesterday with nice TDI crosses.

EUR/AUD - Price broke support and signal candle was BEEB
Attached Image (click to enlarge)
Click to Enlarge Name: euraud-h4.png Size: 41 KB


EUR/CAD - Price broke support and signal candle was BEEB
Attached Image (click to enlarge)
Click to Enlarge Name: eurcad-h4.png Size: 40 KB


EUR/NZD - Spotted the higher low bar, the signal candle broke previous low
Attached Image (click to enlarge)
Click to Enlarge Name: eurnzd.png Size: 42 KB
  • #65,920
  • Edited 1:39am Feb 18, 2016 1:11am | Edited 1:39am
Hi Mehdi,
It's called Master_Candle_v2. If you do a search on this site I'm sure you'll find it. I use it as a visual aid when Im on APB candles. Hope that helps
Cheers

home.. here is link

http://www.forexfactory.com/showthre...31#post8111231



Quoting mehdi343
{quote} Hi bigpips, do you mined to share the indicator that observe the high and low with short green and red lines up and bellow the candle? Many thanks in advance.
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