{quote}Looks like you caught the news train.
I Have Learned to Take Some Losses to Make Profits
- #66,823
- Mar 10, 2016 8:38am Mar 10, 2016 8:38am
The ME/ME trades for 2016 Week 10 The summary for Week 10 is shown below: Total Trades: 113 Winning Trades: 93 Losing Trades: 20 Average Winning Pips per Trade: 33.80 Average Lot Size per Trade: 0.23 Average Winning Amount per Trade: $72.1 {image}
But I'd love more details about your trades... It's difficult to learn from this statement in my opinion
Best,
- #66,826
- Mar 10, 2016 9:04am Mar 10, 2016 9:04am
- Joined Sep 2015 | Status: ob-la-di, ob-la-da, life goes on... | 4,499 Posts
{quote} It is more a money management game we play in this market. the technical trading anyone can learn and master in time. the MM is not that easy because it is closely tied to our psychology when I trade with our hard earned money. but once you have the experience and start trade with "other people's money" like what Dr Van Tharp wrote in his money management report, the game change. my account is made up of "other people's money" the past 2 weeks.
hmmm... where can I get that PDF docs by Dr. Van Tharp?.
Anyway, I will try to ask one of my best friend named Google
Thanks Emmanuel for your continuous sharing of your wisdom in trading.
Kindest regardds
Since Frank Sinatra sings in his own way, my chart sing... I did it, my way
- #66,827
- Mar 10, 2016 9:14am Mar 10, 2016 9:14am
- Joined Jul 2013 | Status: Trader | 1,045 Posts
{quote} Hi catalin_erosMay I ask some questions 1. How do you scan the market? it seem to me that you always have many pairs to trade. 2. some charts you were using PAC & some you were using ema. Reason? 3. Were your entries according to prices broke PAC or ema with TDI confirmation? with or without 3bars reversal. 4. Ucad - Green TDI did not cross red TDI at that time(when you entered). Or you considered only Green TDI as Big E did? Thank you Best regards
Thank you!
1. You are absolutely right, I have many pairs. Maybe too many.
I am starting with W1, and decide the bias for that week. I have been trading H1 with the guppies, but I could not not keep up on that TF, due to my busy schedule, so I decided to try Emm's BPP method on a TF higher than H1, but I currently do not use the MN chart to start my analysis. But since I am new to the method that Emm is using, that means I am flexible until I have a very good and proven set of rules, so I might start with the MN in the future, if I feel that starting with W1 is having flaws.2. You got me there.
This is the old guppy template back from when I was using the PAC, and I've very recently decided to see how the 5 EMA is doing, and I changed the PAC to 5 EMA on some pairs, and I plan on doing it for all the pairs.3. No, I did not take into into consideration the PAC, I was focusing on PA. But I will be looking at 5 EMA from now on.
If the TDI cross is there, it's better. But if I have no cross, but a PA pattern exists, I can enter the trade. Look at my AJ trade:
The above is the D1 chart. Looking at W1 you will notice 2 WRBs, which you can see on my D1 chart as the black lines. Before the day I entered the trade, you can see that PA had been bouncing up and down between the high of the older WRB and the high of the newer WRB. We knew the range now. So on the following day I spotted the entry on H4. Let's take a closer look at H4:
The red vertical line clearly shows that the cross did not happen on the close of the first APB, but if you examine that ABP closer, you'll notice that it closed above the IB. That supported my bullish entry. I could have been more aggressive than that, and enter on the live candle (first APB) when it broke above the IB, without waiting for it to close. Decisions, decisions, decisions...
4. I agree, but I spotted the morning star pattern and potential hidden divergence, which made me rely on PA, and not on indi cross.
Not to mention that 5 EMA was not crossed by the candle at that time either. In a recent PM I sent to Emm, he said: 'First comes the PA, then the TDI.' These words were spoken in the same or similar manner by many other great TMS traders. So it's definitely worth putting some heavy weight on them.
P.S.: Emm will surely have something to say against that divergence, cause he won't like the distance between the highs. So he might scold me a little.
{quote} I guess that might being telling you something
Hi Lookleft, I had no problem with TMS, I think it is great and very simple. Been following exactly what Big E did, but the problem is the huge losses, been keeping my trading journal, and without the huge SL, it would never turn to profit as I had many occasions that the trade go the other way before turning to profit.
Another thing is if I did not have a small TP, 20-30 pips, most of my trade would've been a loss.
I'm still learning atm, and I think money management might be the answer.
- #66,835
- Mar 10, 2016 9:47am Mar 10, 2016 9:47am
- Joined Aug 2012 | Status: Trader | 18,655 Posts
the cautious seldom err....C
{quote} Great results TY !
There are no extra skills for me to gain pips, I just follow exactly what our mentor Emmanuel wrote down here, no secrete and shortcut to find out.
I repeat Emmanuel's post at least 3 times a day with my own understanding and interpretation, I take notes of what he said, keep repeating and understanding, then practice in the real market, summarise every losing trade and do the self reflection every day.
I do rarely ask questions because the contents posted here are more important and comprehensive for me, I can guarantee you that the existing contents posted here are enough for you to make the long term profit, but they are taking me really a lot of time to digest. In other words, the work for trading I have done everyday makes me no time to ask and post. This thread can teach you the way of thinking, but it can not make you rich. However, once you know the method, you can build on the top of it and form your own trading style.
Now, I am still too young in ME/ME, I keep forgetting things I have learnt here and sometimes I am quite emotional in trading, I am a bit worried that I will mislead the traders here. Before I feel confident answering questions and expressing my ideas, I would like to keep learning.
You can't imagine how grateful I am to Emmanuel, he gives all of us the great support and guidance, so I will not bother him too much and stay quiet, then learn.
{quote} Dear Emmanuel, thank you for the insight.The more I learn about price action, the more I am confused about TDI, as it is a lagging indicator. If there is no trend, it is very risky to trade with TDI.
Caught the early worm.
Had a sell stop 15 pips below support, made 30 pips TP.
You are the best
- #66,840
- Mar 10, 2016 10:25am Mar 10, 2016 10:25am
- Joined Sep 2015 | Status: ob-la-di, ob-la-da, life goes on... | 4,499 Posts
Since Frank Sinatra sings in his own way, my chart sing... I did it, my way