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  • #66,561
  • Mar 6, 2016 11:31am Mar 6, 2016 11:31am
hey,

check weekly EURGBP.

can we say last week formed a valid bearish engulfing or not?

because open was slight under the close of the week before.
  • #66,562
  • Mar 6, 2016 12:58pm Mar 6, 2016 12:58pm
Quoting ruben7222
hey, check weekly EURGBP. can we say last week formed a valid bearish engulfing or not? because open was slight under the close of the week before.

it is bearish engulfing weekly candle and market is sideways.
drop down to H4 and look for possible trade.
Attached Image (click to enlarge)
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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #66,563
  • Mar 6, 2016 1:00pm Mar 6, 2016 1:00pm
Quoting Donquixote
{quote} whats the 10 important things weve forgot about technical trading?

Ten (10) things : post#19,618 Post#21,856 Post#32,889
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #66,564
  • Mar 6, 2016 1:08pm Mar 6, 2016 1:08pm
Quoting makron
Hi to all! My second week with TMS. Did not trade thu and fri Try to understand ME/ME, but its hard for me yet {image}

Nice.

So long as your Absolute Drawdown is small and you stay above your opening balance, you should be good.
Watch your maximum drawdown %. Anything above 10% is very difficult to recover in short time.

Attached Image (click to enlarge)
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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #66,565
  • Mar 6, 2016 1:10pm Mar 6, 2016 1:10pm
Quoting tibovwh
Hi, Couple of us were discussing some aspects of ME/ME. We came to the conclusion that we were uncertain about a vital aspect of this. I feel kind of embarassed to ask this as I have been studying this for quite long and this seems something important that should have been clear long ago. I will try to explain clearly: It is regarding re-entering the lot when the basket moves back in our favor. In this post I found that after we have built a couple...

what is the question?
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #66,566
  • Mar 6, 2016 1:11pm Mar 6, 2016 1:11pm
Quoting emmanuel7788
{quote} Hi, in that pdf example, the price action is clear and where swing high was and what the market volatility using ADR 100 days was explained in there. instead of me showing my trades trades and all the calculation details , etc. why not you start doing your big picture plan and post them and we can discuss which pairs to pick fro next week to trade with ME/ME. regards,
Good morning Emmanuel:

I did what you told me to do last week. And I picked these 5 pairs to trade for WK10

AJ (LONG)
http://screencast.com/t/AK0C2zWA
GJ (LONG)
http://screencast.com/t/otrQkYsVkYm
EJ (LONG)
http://screencast.com/t/0gRLjX0vr
EU (LONG)
http://screencast.com/t/kx4fDr4c0WF
EG (SHORT)
http://screencast.com/t/JNvtL2guMt

I will concentrate on these 5 pairs for this week and also my backup pairs: EN, GN, GU.


Regards,

Steven
  • #66,567
  • Mar 6, 2016 1:16pm Mar 6, 2016 1:16pm
Quoting v2vboni
{quote} Hi Emmanuel, I like your illustration with regards to build and run phase. Thanks! EJ: Daily, it seems going up further. {image}

nothing on your charts are real until they happen.
we do not need to re-invent the work of John Bollinger.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #66,568
  • Edited 1:54pm Mar 6, 2016 1:17pm | Edited 1:54pm
Quoting tibovwh
Hi, Couple of us were discussing some aspects of ME/ME. We came to the conclusion that we were uncertain about a vital aspect of this. I feel kind of embarassed to ask this as I have been studying this for quite long and this seems something important that should have been clear long ago. I will try to explain clearly: It is regarding re-entering the lot when the basket moves back in our favor. In this post I found that after we have built a couple...

Hi, Couple of us were discussing some aspects of ME/ME. We came to the conclusion that we were uncertain about a vital aspect of this. I feel kind of embarassed to ask this as I have been studying this for quite long and this seems something important that should have been clear long ago. I will try to explain clearly: It is regarding re-entering the lot when the basket moves back in our favor. In this post I found that after we have built a couple of positions and it moves in our favor we re-enter at the same position size. So we carry over our basket through the trend. This was how I thought this was done and I never really questioned it anymore. But when discussing this with a couple of guys they were all opening a new basket every time we hit our re-entry target back in direction of our trade. I found a couple of older posts (Back when the concept of Technical SL with position sizing (R-multiples...) was used more) that talk about scaling in when the position moves in our favor so this actually ADDED lots when it goes in our favor I think. I think this is what you refer to as adding when all previous positions are protected? I think that perhaps there is no clear-cut answer. Is there discretion involved here or do you use the same approach every time? I would think that when we are in RUN phase for instance, we would prefer to carry over the position and kind of "leverage" our trade keeping the basket of 1% risk running. Or perhaps when we are approaching some levels where we expect some resistance that we could close some of the most profitable trades we have been carrying? I hope Emmanuel can shed some additional light on this very important aspect. I searched a lot in the thread but I did not find any posts that removed all my doubts. But anyone else is more than welcome to share their view and provide feedback! Best


Not sure if my post was too unclear or whether you are implying something else. I will assume the first and hope we can still talk about this...

Best,
  • #66,569
  • Mar 6, 2016 1:27pm Mar 6, 2016 1:27pm
Quoting mousteven
{quote} Good morning Emmanuel: I did what you told me to do last week. And I picked these 5 pairs to trade for WK10 AJ (LONG) http://screencast.com/t/AK0C2zWA GJ (LONG) http://screencast.com/t/otrQkYsVkYm EJ (LONG) http://screencast.com/t/0gRLjX0vr EU (LONG) http://screencast.com/t/kx4fDr4c0WF EG (SHORT) http://screencast.com/t/JNvtL2guMt I will concentrate on these 5 pairs for this week and also my backup pairs: EN, GN, GU. Regards, Steven

very good.
be careful when you have 3 JPY pairs traded at the same time.

I have EJ, GU, EA, GA and GN or EN.
Have ECad and GCad as backup in case I need to recover some losses.

need to keep our ears on the ground next week,
1) Bank of Japan action
2) Commodities/Oil markets which can impact AUD, NZD and CAD. London session markets.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #66,570
  • Mar 6, 2016 1:37pm Mar 6, 2016 1:37pm
Hi guys I just want to say (with all due respect) that most of these forums and chats I read all to technical confusing and contradictory. Sometimes its best to keep it simple. What I mean is indicators and all these tools are all great but my most successful trades comes from reading the candles. I see the same patterns occurring over and over again. I spent years back testing all kinds of technical theory's and systems, I found that the best system for me is clean charts with bollingers.
  • #66,571
  • Mar 6, 2016 1:49pm Mar 6, 2016 1:49pm
Quoting emmanuel7788
{quote} very good. be careful when you have 3 JPY pairs traded at the same time. I have EJ, GU, EA, GA and GN or EN. Have ECad and GCad as backup in case I need to recover some losses. need to keep our ears on the ground next week, 1) Bank of Japan action 2) Commodities/Oil markets which can impact AUD, NZD and CAD. London session markets.


Hello Emmanuel:

How to really distinguish between my 5 pairs and the backup pairs? or they are just our least favorite pairs? Because when you mentioned "just in case I need to recover some losses", does it mean these pairs are like PLAN B, if the fav 5 pairs (Plan A) go wrong?

So, do you suggest for correlated pairs like EJ, GY, AJ , it's best to choose one of them even they are presented with good trading opportunity?


By the way, your recommendation reading , Money Management Report (Van Tharp), is good, eye opening for me~ i think i need to read it few times to get the ideas.

Best regards,

Steven
  • #66,572
  • Mar 6, 2016 1:59pm Mar 6, 2016 1:59pm
Quoting tibovwh
{quote} Hi, Couple of us were discussing some aspects of ME/ME. We came to the conclusion that we were uncertain about a vital aspect of this. I feel kind of embarassed to ask this as I have been studying this for quite long and this seems something important that should have been clear long ago. I will try to explain clearly: It is regarding re-entering the lot when the basket moves back in our favor. In this post I found that after we have built...
My apologies for my poor reply. I did not elaborate enough.

So we had some discussion on re-entering. I read Gravitons thread and I had always been under the impression that you keep open the existing lotsize when you re-enter. I always assumed that this is what "building a position" meant. But since we were discussing this with a few I realized that I had perhaps been wrong about this all along.

I added a chart to clarify. I know this is 15M but I'm sure the idea is the same. How do you actually trade (as this cannot be directly observed from your charts).

You talked a lot of scaling in when it moves in your favor in the past. How does this fit in, in the context on my question and added chart?

Do you have one of the two approaches that you use every time? Or am I completely missing something and is your real approach a third option?

Or do you utilize discretion in this? i.e. do you sometimes keep it open and sometimes start a new basket? If so, in what cases would we be doing this?

I hope we can resolve some of my questions!

Best,
Attached Image (click to enlarge)
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  • #66,573
  • Mar 6, 2016 2:32pm Mar 6, 2016 2:32pm
Quoting tibovwh
{quote} Hi, Couple of us were discussing some aspects of ME/ME. We came to the conclusion that we were uncertain about a vital aspect of this. I feel kind of embarassed to ask this as I have been studying this for quite long and this seems something important that should have been clear long ago. I will try to explain clearly: It is regarding re-entering the lot when the basket moves back in our favor. In this post I found that after we have built...

when you quoted that post 61296, you are looking at the ME/ME trades, right?
did you missed the TMS 5-Method trading part?

sometimes we look at the trees and we missed the forest, other times we see the forest and missed the trees.

that post was about how to trade TMS 5-Method when the trend already ran 3 to 8 candles in H4.
if we want to trade exactly like Big E did as he described in post#1, how many H4 entries were there based on TDI setups in that week?

when we look at those (little trees) ME/ME entries and exits, those risk per trade is 0.2% each and at 50pips each. So we take whatever the market give us during the week because that trade was a 4H swing trade which open and close in the same week, no rollover to the next week. This is a rule for 4H swing trading.
we do not increase the trade lot size.
we keep track of the average entry price when we have more than 2 open trades,
with the average entry price of several trades, we keep track of the target profit of 50pips from the average entry price.
monitoring the floating profits, you should know if and when you close all open trades whether you will have any losing trades among the basket of trades.
now comes the discretionary part, which is when you have several open trades and lets say 5 open trades and 3 are in profit and 2 are still in floating loss, we ask ourselves what is our exit plan according to our trade plan. do we exit before London session closed on Friday. if we exit and close all trades at that time, it would mean we have 3 winners and 2 loses in that basket of trades.
how will it affect your bottom line?
will you meet your target $ and % for the week?
how will that affect your win/loss ratio?
how will it affect your win rate %?
..../-

keep it simple:
- use the same trade lot size for every new trade entry.
- take what the market give us,
- and when the trade setup is still valid, re-enter with same trade lot size,
- when we close several trades in profit, and the setup has not been invalidated, we re-enter with same trade lot size.

.../-
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #66,574
  • Mar 6, 2016 2:40pm Mar 6, 2016 2:40pm
Quoting tibovwh
{quote} My apologies for my poor reply. I did not elaborate enough. So we had some discussion on re-entering. I read Gravitons thread and I had always been under the impression that you keep open the existing lotsize when you re-enter. I always assumed that this is what "building a position" meant. But since we were discussing this with a few I realized that I had perhaps been wrong about this all along. I added a chart to clarify. I know this is 15M but I'm sure the idea is the same. How do you actually trade (as this cannot be directly observed...


for demo and learning,
keep it simple, all use 0.2% risk...
take what the market give you and decide your next step.

when you are hungry and still have the appetite, can eat some more.
do not eat more simply because of having appetite.

you can have a very good appetite at anytime, but make sure you have your meals at home.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #66,575
  • Mar 6, 2016 2:48pm Mar 6, 2016 2:48pm
Quoting TheScorpS
A typical trading day yesterday, I still have ups and downs , as am trying my extreme best to crawl my way up, at the moment am at breakeven with a + percentage on my Demo account , been ups and downs with this account, but I still am on the positive side, am not sure if it was pure luck or am improving, if this account survive then I might be doing something correct Pls look into my chart , and see if theres anything that I can improve, my entries are getting better , so now am considering studying when is the right time to exit so that I can build...
Hi Scorps thanks for your explanation. I just came across this post, seems like you have come a long way! Fantastic
  • #66,576
  • Mar 6, 2016 3:42pm Mar 6, 2016 3:42pm
Quoting emmanuel7788
{quote} very good. be careful when you have 3 JPY pairs traded at the same time. I have EJ, GU, EA, GA and GN or EN. Have ECad and GCad as backup in case I need to recover some losses. need to keep our ears on the ground next week, 1) Bank of Japan action 2) Commodities/Oil markets which can impact AUD, NZD and CAD. London session markets.
Hi, Emm!
Why you dont trade UC, AU, AJ? They all have strong trend.
But you trade GU (Weekly CT with no strong bullish PA), GN (Weekly IB)?
  • #66,577
  • Mar 6, 2016 8:19pm Mar 6, 2016 8:19pm
Quoting emmanuel7788
{quote} do you know of or used another approach to do top down analysis instead of the way I do Big Picture Plan? if you do, what is the outcome of doing your own top down analysis. does your top down analysis give you a clear view of the market and what to look for to trade. does your top down analysis help you identify support and resistance to be use in the new trading week. what other information does your top down analysis provide you. the best forward is to learn by doing and not just reading and reading. you pick one currency pair and I will...

Dear emmanuel,

Sorry to ask you again. Could you guide me on the steps to do for the BPP this week? On GU or GJ perhaps?

Thank you.
  • #66,578
  • Mar 6, 2016 8:27pm Mar 6, 2016 8:27pm
Quoting antonym
{quote} Dear emmanuel, Sorry to ask you again. Could you guide me on the steps to do for the BPP this week? On GU or GJ perhaps? Thank you.

OK, but not right now. Very busy and tried after doing BPP for 16 pairs last night....
today i want to have fun, relax and play with grand kids.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #66,579
  • Mar 6, 2016 8:28pm Mar 6, 2016 8:28pm
Quoting makron
{quote} Hi, Emm! Why you dont trade UC, AU, AJ? They all have strong trend. But you trade GU (Weekly CT with no strong bullish PA), GN (Weekly IB)?
I can if I have more money in my trading account. But 5 pairs is quite many to manage already.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #66,580
  • Mar 6, 2016 8:30pm Mar 6, 2016 8:30pm
Quoting emmanuel7788
{quote} OK, but not right now. Very busy and tried after doing BPP for 16 pairs last night.... today i want to have fun, relax and play with grand kids.

Ok. Thank you very much emmanuel.

Have a nice day!
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