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Trading Made Simple

  • #66,201
  • Feb 25, 2016 7:05am Feb 25, 2016 7:05am
Quoting makron
4 loses for today: GU H1 -45p GJ H1 -30p EU H1 -11p EJ H1 -20p {image} {image} {image} {image}
Hi makron,
I think you might be looking at divergence and trend lines and missing some of the basics.
EJ - You traded into the DOL and RN (123.500) which can act as S/R. Also look back a couple of days and you'll see that the 123.500 had acted as strong S/R.
GJ - Very similar with BRN (156.00) acting as S/R. Also it looks like the APB you entered on had already pulled back from the BRN.
Don't force it, be patient and it'll work
Never argue with a fool; onlookers may not be able to tell the difference.
  • #66,202
  • Feb 25, 2016 8:04am Feb 25, 2016 8:04am
Is this correct opportunity?
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  • #66,203
  • Feb 25, 2016 8:13am Feb 25, 2016 8:13am
Quoting Islandfx911
Shorted EC, Bearish Engulfing with trend, TDI X. {image}
Nice setup candle but I'm interested by your TP... Howcome you decide on this 90p exactly?
  • #66,204
  • Feb 25, 2016 8:18am Feb 25, 2016 8:18am
Quoting Trader MT4
Is this correct opportunity? {image}
Hi Trader,

On my chart I see: Double top / Double Inside Bar / BEOB. This BEOB candle is still live and has 40 min to close (on my broker). You could find some pips here.

Risks:

Longer term is up
Previous structure .7850

GL
  • #66,205
  • Feb 25, 2016 8:31am Feb 25, 2016 8:31am
EA short for +50 pips, APB changed color to red, TDI cross
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I Have Learned to Take Some Losses to Make Profits
  • #66,206
  • Feb 25, 2016 8:44am Feb 25, 2016 8:44am
The ME/ME trades for 2016 Week 8

I have closed all the trades for week 8 because I am both mentally and physically tired, I choose to leave no orders in the market this week so I can take a long break and have enough time to reflect and evaluate my performance thoroughly. I will have a good start next week


The summary for Week 8 is shown below:
Total Trades: 73
Winning Trades: 50
Losing Trades: 23
Average Winning Pips per Trade: 32.79
Average Lot Size per Trade: 0.13
Average Winning Amount per Trade: $54.43
Attached Image (click to enlarge)
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  • #66,207
  • Feb 25, 2016 8:56am Feb 25, 2016 8:56am
Hi Everyone. Does anyone know of an alert that can text when the tdi crosses by any chance? Cheers
  • #66,208
  • Feb 25, 2016 9:42am Feb 25, 2016 9:42am
Quoting Trader MT4
Is this correct opportunity? {image}
Little tip when trading EURGBP. Always look at EURUSD and GBPUSD if they are going in opposite directions EURGBP will follow.
EURUSD up and GBPUSD down = EURGBP up and vice versa.
Never argue with a fool; onlookers may not be able to tell the difference.
  • #66,209
  • Feb 25, 2016 11:09am Feb 25, 2016 11:09am
EC short for 87 pips!

- The information on this thread has really changed the way I trade. I'm only 20 years and i can say missing a few nights of partying to study this thread has been worthwhile.
Attached Image (click to enlarge)
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- On the second chart - I took a trade on AUDJPY but ended up closing it manually with a loss but after i closed it the pair went in the direction of my setup. Checking smaller time frames influenced my being skeptical of the setup. How do you guys deal with such situations?
Attached Image (click to enlarge)
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I'm Darth Vader's lost child!
  • #66,210
  • Feb 25, 2016 11:56am Feb 25, 2016 11:56am
one of my open trades

breakout through WRB (if i am correct?)

it is valid entry, not?
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  • #66,211
  • Feb 25, 2016 12:32pm Feb 25, 2016 12:32pm
Saw this set up this morning before going to work, thought I'd share. 50 quick pips...
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Click to Enlarge Name: GBPJPY.png Size: 71 KB
  • #66,212
  • Feb 25, 2016 12:40pm Feb 25, 2016 12:40pm
AJ +50 slow pips
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  • #66,213
  • Feb 25, 2016 1:51pm Feb 25, 2016 1:51pm
Quoting Islandfx911
Shorted EC, Bearish Engulfing with trend, TDI X. {image}
Nicely done Island,

Good to see people having success with basic TMS + PASR. I like the clean chart as well

Keep up the green pips

Ballistical
Focus on the process and the profits will follow
  • #66,214
  • Feb 25, 2016 2:27pm Feb 25, 2016 2:27pm
Quoting ruben7222
one of my open trades breakout through WRB (if i am correct?) it is valid entry, not? {image}
Hi Ruben7222,

What EMA or SMA do youhave on your chart?

I like the 14 SMA.
kevinfxtrader blogspot com; 50 PIPS Per Day
  • #66,215
  • Feb 25, 2016 2:43pm Feb 25, 2016 2:43pm
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...

Quoting mousteven
{quote} I think good setup on EA , EC and EN for W1 are forming, and bearish divergence are seen. But this week's candle has not closed yet. Maybe we should start looking good entries on D1 chart now?


Updating EURCAD chart...

EURCAD D1 ME/ME summary
This week, I think many charts have shown sign of bearish for EUR pairs, especially divergence has formed in some W1 charts and TDI crossed as well.
I think this is why I decided to take the continuation on D1.

Same strategy, using ME/ME to build my position during the retracement.
Spaced out each entries using 0.5ADR(100) distance, my SL was 2*ADR(100)
If you think that my entries on H4 are unreasonable,
It's because I already set the pending orders and leave there waiting for them to hit.

To be honest, the retracement or consolidation last for about two days , same as other EUR pairs.
During the waiting time, it was actually painful to wait,
But I know that patience is one of the important elements in this game.
one or two thoughts flashed on my head telling me to breakeven the basket, but I refused

My Emotion during these two days
I had been seeing my equity increased then it decreased
and then the emotion was like that back and forth
then I tried to watching youtube videos or do something else
like TeslaYoung said"both mentally and physically tired".


What I learned:
It took me very long time to calculate each ME lot size and place pending orders, not to mention if I want to trade several pairs, all my time would be spending on that. Also, I have a full time job, it just inappropriate to monitor Forex for too long. So, I decide to make a EXCEL spreadsheet and type in the key variables , and all MEs lot size and entries and SL level will come out and then key in to Script for placing limit orders. In this way, I can focus more on price action and patterns.

I'm trading a demo account and a small live account, and I know one day I'll save 50,000 for a real live account. However, by then, greedy and fear would be much more stronger than now. I really want to know how to detach my emotion from trading, sort of like trading like a robot, be rational and make right decisions most of time.


Feel free to comment my trade or anything

Best regards,
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  • #66,216
  • Feb 25, 2016 4:08pm Feb 25, 2016 4:08pm
Hi mousteven,

thank you for updating us about your ME/ME trade! Unfortunately I missed the initial entry due to heavy work load at my day job.... so I am very interested in your report and thoughts. I think we all know your feelings when the PA goes against your trade ;-) IMHO, the best you can do is to keep to your trading plan as long as it is valid and to have a clear exit strategy just in case.... but sometimes it is very difficult. Maybe I wouldn't had closed the trades, on my screen the setup seems to be still valid. How many pips did you gain in total?

I did some simulator trading last weekend on EA, H1 TF, approx. one month, and I did it twice: during the first run, I tried to follow the TMS entry and exit rules, but had no real trading plan, so I placed SL according to my feelings, closed trades early when I expected the trade would go against me and didn't take care of London stock exchange hours etc. During the second run, I tried to keep to my trading plan as much as possible, to have a fixed TP and SL based on ADR, to avoid all emotions and mistakes.

The result had been a real surprise to me: during the second run I counted 19 profitable trades out of 24! So my conclusion is similar to yours: sticking to the rules, having confidence in TMS seems to be profitable ;-)

BTW, I am on MT5, which might be easier for ME/ME, since all positions are added up and the entry price is calculated and shown automatically.
Best regards, blackfriday
  • #66,217
  • Feb 25, 2016 5:17pm Feb 25, 2016 5:17pm
Quoting thaboonline
EC short for 87 pips! - The information on this thread has really changed the way I trade. I'm only 20 years and i can say missing a few nights of partying to study this thread has been worthwhile. {image} - On the second chart - I took a trade on AUDJPY but ended up closing it manually with a loss but after i closed it the pair went in the direction of my setup. Checking smaller time frames influenced my being skeptical of the setup. How do you guys deal with such situations? {image}
Hi,

Don't spend all your nights studying the thread also... Trading is a marathon not a sprint. Enjoy your time as a student it's over before you realize it

I like your trades. Especially the second one. Good PA! If you have a plan, follow it and be confident.

Good to have you here!
  • #66,218
  • Feb 25, 2016 5:20pm Feb 25, 2016 5:20pm
Quoting teslaYoung
The ME/ME trades for 2016 Week 8 I have closed all the trades for week 8 because I am both mentally and physically tired, I choose to leave no orders in the market this week so I can take a long break and have enough time to reflect and evaluate my performance thoroughly. I will have a good start next week The summary for Week 8 is shown below: Total Trades: 73 Winning Trades: 50 Losing Trades: 23 Average Winning Pips per Trade: 32.79 Average Lot Size per Trade: 0.13 Average Winning Amount per Trade: $54.43 {image}
Another set of good results.

I'd love to see more of your individual baskets of trades. How do you choose your pair you trade every week?

Enjoy your long (trading) weekend!
  • #66,219
  • Feb 25, 2016 5:29pm Feb 25, 2016 5:29pm
Quoting teslaYoung
The ME/ME trades for 2016 Week 8 I have closed all the trades for week 8 because I am both mentally and physically tired, I choose to leave no orders in the market this week so I can take a long break and have enough time to reflect and evaluate my performance thoroughly. I will have a good start next week The summary for Week 8 is shown below: Total Trades: 73 Winning Trades: 50 Losing Trades: 23 Average Winning Pips per Trade: 32.79 Average Lot Size per Trade: 0.13 Average Winning Amount per Trade: $54.43 {image}
Hi TeslaYoung ,

Very nice trading result. In my openion most important thing in this system is managing your loss and closing basket in loss but when before it hit 1% Hard SL.

Have you had closed any basked in Loss before hitting SL. on what basis you decided , please can you share trades of a basked closed in loss on chart so we all can learn better.

Thanks

MK
  • #66,220
  • Edited 7:29pm Feb 25, 2016 5:42pm | Edited 7:29pm
Quoting mkfx
{quote} Hi TeslaYoung , Very nice trading result. In my openion most important thing in this system is managing your loss and closing basket in loss but when before it hit 1% Hard SL. Have you had closed any basked in Loss before hitting SL. on what basis you decided , please can you share trades of a basked closed in loss on chart so we all can learn better. Thanks MK
some important things are:-
1) to close some ME trades at breakeven and keep the oldest ones protected to run
2) never allow your trades to hit the Hard Stop Loss which is there to protect your entire account from being wipe out.
3) know when to cut some small losses
4) keep you drawdown small
5) know how to do the recovery from drawdown in short time

... more/-

your winning edge depens on many factors.
one of it is understanding and how youu Manage Drawdown .. Post#60,103

have you started a demo account for ME/ME trading yet? post your next ME/ME trade and let us see and share our thoughts.
you will learn much quicker by doing. it is one way to wire our brains.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
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