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Trading Made Simple

  • #66,241
  • Feb 26, 2016 2:35am Feb 26, 2016 2:35am
Quoting emmanuel7788
{quote} 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...
Hi Emmanuel,

I will create a separate 50K demo account in next week but I did some trades in existing demo account . Most of these were good. Please couple of trades were reached to 200 to 300 pips in loss so i closed and did not wait to hit 400 pips hard SL. Please advice when to close the basket to cut the losses , which is most important part of Me/ME system.

Please advice when trades is not in our favor what is the point of smart loss cut.

Thanks
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  • #66,242
  • Feb 26, 2016 2:57am Feb 26, 2016 2:57am
Quoting mousteven
{quote} {quote} 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...
Fantastic trade
  • #66,243
  • Feb 26, 2016 4:26am Feb 26, 2016 4:26am
Hi Emmanuel,

How would you anticipate a TDI cross or maybe TDI X might be happening soon enough?

I'm thinking if I tried to anticipate this, I would be falling into false breakouts. How would you prevent such misread on this one?

At the moment, I look from D1 down (sometimes W1) to 15 minutes (for an entry) as I learned from you here with the TMS Monitor

Many thanks
Since Frank Sinatra sings in his own way, my chart sing... I did it, my way
  • #66,244
  • Feb 26, 2016 5:03am Feb 26, 2016 5:03am
Trading EA so far for the day + 20 long + 17 and + 32 shorts
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I Have Learned to Take Some Losses to Make Profits
  • #66,245
  • Feb 26, 2016 6:05am Feb 26, 2016 6:05am
Is this correct opportunity?
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  • #66,246
  • Feb 26, 2016 6:33am Feb 26, 2016 6:33am
Quoting v2vboni
Hi Emmanuel, How would you anticipate a TDI cross or maybe TDI X might be happening soon enough? I'm thinking if I tried to anticipate this, I would be falling into false breakouts. How would you prevent such misread on this one? At the moment, I look from D1 down (sometimes W1) to 15 minutes (for an entry) as I learned from you here with the TMS Monitor Many thanks
Hi v2vboni,

I had been looking at some things and I think it might be relevant with respect to your question.

The TDI is a lagging indicator. It will do whatever the candlesticks (which is just a derivative of PRICE - which is made up of ticks) in a particular timeframe do. The ticks are the building blocks and show up in different timeframes in a different way because of the aggregation.

For example, if you use the Synergy PRO TDI (the one set to Typical Price) then BXOB formations will often lead the TDI cross. It is possible the TDI is crossing on the next candle but it's also possible it is still turning. So the formation is leading over the TDI. Wheter you want to be agressive / conservative depends on you and how the formation fits in your view of the pair.

I spend some time looking at EURCAD as this was a pair that was discussed here a bit. What you can see is that (because of the aggregation of timeframes) certain things roll down the timeframes. But, they all come from the same ticks!

The W1 chart showed a BEOB 6 weeks ago. The TDI crossed when the next candle closed. However, price pulled back significantly. (coincidence or not, it stopped right at the 10EMA). Price went back up and stopped at an important W1 close.

We can see this on the 4H chart. A candle moves into that W1 open and pulls back leaving a long wick. It consolidates, as seen by the double inside bar, followed by a BEOB. From there, we can see this "roll down" the timeframes, forming 2 interesting formations.


I'm not claiming i'm onto something and I'm not sure if this will make sense to you or anyone but I found it interesting charts.

Best,
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  • #66,247
  • Feb 26, 2016 6:48am Feb 26, 2016 6:48am
Quoting tibovwh
{quote} Hi v2vboni, I had been looking at some things and I think it might be relevant with respect to your question. The TDI is a lagging indicator. It will do whatever the candlesticks (which is just a derivative of PRICE - which is made up of ticks) in a particular timeframe do. The ticks are the building blocks and show up in different timeframes in a different way because of the aggregation. For example, if you use the Synergy PRO TDI (the one set to Typical Price) then BXOB formations will often lead the TDI cross. It is possible the TDI is...
Here's another chart (AUDNZD):
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  • #66,248
  • Feb 26, 2016 7:27am Feb 26, 2016 7:27am
Quoting jben10000
Is this correct opportunity? {image}
Here's my chart:

Candle has 90mins to close. I see TDI crossing now but PA is rubbish, angle is poor and APB very small. If we enter on next bar, this will be APB#4. Also, it is Friday afternoon... Do you want to open a 4H trade now and keep it open over the weekend?

Best,
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  • #66,249
  • Feb 26, 2016 7:31am Feb 26, 2016 7:31am
Correct. and I want Inside bar Indicator.
  • #66,250
  • Edited 7:48am Feb 26, 2016 7:36am | Edited 7:48am
Does anyone still trade strictly to Big E's original time frame (10pm to 6am PST) with success?
  • #66,251
  • Feb 26, 2016 7:44am Feb 26, 2016 7:44am
Quoting jben10000
Is this correct opportunity? {image}
NO Daily is against it.
  • #66,252
  • Feb 26, 2016 7:50am Feb 26, 2016 7:50am
Hello Friends, Emm, and others who help me

After many years I am first time Winner trader, after change small TF to H4 and Daily

THANKS ALL OF YOU WHO HELP ME

DAN
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  • #66,253
  • Feb 26, 2016 8:08am Feb 26, 2016 8:08am
Hello all,

What do you think of this countertrend NZDUSD opportunity? SInce it is Friday and also countertrend (againstD and W) i will not take but i am curious you guys think it is a good opportunity for a few pips ?

thanks a lot!
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focus, manage risk, rinse, repeat
  • #66,254
  • Feb 26, 2016 8:24am Feb 26, 2016 8:24am
Crazy day with EURUSD H1
First trade entered from M15 and set and forget using CM to manage the trade with TP1 at +25 and TP2 at +50. TP1 hit then a big pull with CM closing the trade using candle stop loss setting.
Second trade taken on the TDI bounce with CM managing trade both TPs hit (small as it's Friday). Didn't think it would keep going put it could reverse quickly at anytime so I'll take what I've got
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Never argue with a fool; onlookers may not be able to tell the difference.
  • #66,255
  • Feb 26, 2016 8:45am Feb 26, 2016 8:45am
Closed my first TMS week for some profit
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  • #66,256
  • Feb 26, 2016 8:53am Feb 26, 2016 8:53am
Quoting TheScorpS
Trading EA so far for the day + 20 long + 17 and + 32 shorts {image}
Scorps, are you trade only EA? Why this pair?
  • #66,257
  • Feb 26, 2016 10:48am Feb 26, 2016 10:48am
Quoting tibovwh
{quote} Hi v2vboni, I had been looking at some things and I think it might be relevant with respect to your question. The TDI is a lagging indicator. It will do whatever the candlesticks (which is just a derivative of PRICE - which is made up of ticks) in a particular timeframe do. The ticks are the building blocks and show up in different timeframes in a different way because of the aggregation. For example, if you use the Synergy PRO TDI (the one set to Typical Price) then BXOB formations will often lead the TDI cross. It is possible the TDI is...
hi tibovwh,

Thank you for your feedback. The information or observations that you have shared with me are really interesting. I'm going through these, and then I will try to find some others pairs that would go as it fits or pulling back one way or other.

Thanks again.
Since Frank Sinatra sings in his own way, my chart sing... I did it, my way
  • #66,258
  • Feb 26, 2016 10:49am Feb 26, 2016 10:49am
Quoting bill992
Hello all, What do you think of this countertrend NZDUSD opportunity? SInce it is Friday and also countertrend (againstD and W) i will not take but i am curious you guys think it is a good opportunity for a few pips ? thanks a lot! {image}
Before I took my train home I was watching this one. I took a very agressive entry. Spotted Double IB after that triangle formation broke to the upside and saw very strong US numbers... So figured it might have been a false breakout. Entered when breaking DOL with SL above structure. Came home and dropped hard. D1 chart forming BEOB atm. I will keep atleast part of this 4H trade open and see if we can see some follow through next week.

edit: I see you stressed this countertrend nature of the trade. I'm not sure about this however. i see W1 has Double IB (= consolidation = ideal for 4H swing trading if range is wide enough) and I see D1 choppy... So if there is no real trend it can't really be countertrend I think. Just my view

Best,
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  • #66,259
  • Edited 11:54am Feb 26, 2016 11:31am | Edited 11:54am
UPDATE: Just as planned for AUD/USD. It formed a double top for me at a key resistance level. Left a Take Profit at .71661
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  • #66,260
  • Edited 12:21pm Feb 26, 2016 12:10pm | Edited 12:21pm
Quoting emmanuel7788
{quote} very good trade. price momentum entry ... I have q uestion if you don't mind me asking. - when you trade H1 the way you do, when do you move your initial SL? I see many of your H1 trades that you keep your SL and did not move to BE., and simply let your TP hit. - sometimes you move your SL to BE, and extend your TP. I want to help some traders set up their THV cavemanager EA to manage their H1 trades.
I am more than willing to help

I watch the pair and TDI first before I decide to move stop loss to break even, if momentum and TDI confirm continuation , I move stop loss to break even since most likely I might be safe in this trade to hit TP beofre taking me out at BE, if my analysis was structure based , then if momentum picks while am on the trade, with good time of the day like LO opens or NYO opens then I will try and move TP to +100 pips , more or less

Now I dont move my stop loss to break even if PA and TDI confirm a continuation trade but TDI on higher time frame isnt ready yet for a move in the direction of the trade, but might be good to stay in the trade based on structure again and lower time frame TDI confirmation, based on that and backbone of EMA 10 and EMA 200, supporting my trade , then I will not move my stop loss to break even when it reaches my regular +21 pips to protect it , so I know that PA will consolidates for a little while in LTF which most likely will get me out of that trade and then continue in the direction anticipated but without me, so I have to risk it a little bit

I have since build my trading plan based on TMS and now I trade that with good consistency
I Have Learned to Take Some Losses to Make Profits
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