Trading Made Simple | Page 3365 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Monitor for 'Trading Made Simple' system 565 replies

Trading Made Simple the right way, and other trading lessons 334 replies

Indicators for the 'Trading Made Simple' system 343 replies

MTF Indicators for the 'Trading Made Simple' system 241 replies

Trading Made Simple system follower - Thanks to eelfranz 9 replies

Attachments: Trading Made Simple
Exit Attachments

Trading Made Simple

  • #67,281
  • Mar 21, 2016 7:22am Mar 21, 2016 7:22am
Quoting mkfx
{quote} Hi Emmenual, Thanks for giving a very clear example of M Entry system. I may be wrong But as per my understand, in this scenario we need to have around 17K equity to trade even a minimum lot (0.01 Lot) . I assumed 1pip =$10 for a STD lot (100K). so for 0.01 lot 1 pip is 10 cent. and total pips distance to SL for all 5 entries is over 1700 pips. Which about $170 and 170 is equal to 1 % than required capital is 17K. Please correct me if I am wrong. Thanks MK MK
hey mkfx - hope u r well buddy - i ran ur numbers thru my risk sheet .... here is the result 4 EU [side note - the pip value will change for other pairs ] .... hope this helps
Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 10 KB
  • #67,282
  • Mar 21, 2016 7:59am Mar 21, 2016 7:59am
Quoting emmanuel7788
{quote} Hi, please write all these on a chart otherwise it is very difficult for me to read your post and try visualize what you are saying on my chart. it is best your write on your chart so that I can also see what you see and also you have other stuff on your chart, it create a visual bias. best is to use the basci TMS template without other stuff. regards,
Hello, Emm!

I am talking about this chart, where your notes say what the entry candle is, and also where the exit is. The exit is at the MN support, according to your notes. I thought you target only 60% of W1 52 ATR, not the S/R of MN chart. The exit you marked on the chart would make some sense if you measure 60% from the entry point, but from what I understood from another post of yours, we measure it not from the entry, but from the H or L of the current W1. 60% of last W1 ATR would be around 140 pips, which is about the distance between your setup candle and exit area. But as I said, we do not measure from the entry, correct? So the exit area you marked is way more than 140 pips. Your setup candle closed at a distance of 145 pips from the high of last week, which was "current week" at that time. So there was no signal to be taken, since we were beyond 140 pips (60% W1 ATR).

So how do you define targets: by the use of 60% ATR measured from the H/L of the current week, or by targeting the MN S/R areas? Your chart doesn't not pint to an ATR percentage as target. I hope you can eliminate my confusion.

Thanks in advance, Emm!
  • #67,283
  • Mar 21, 2016 8:18am Mar 21, 2016 8:18am
Quoting emmanuel7788
{quote} that GBPNZD Weekly WRB has been 'detached' from the previous week' seller
May I ask what you mean by that? Do you mean it is not valid anymore? If not, why?
  • #67,284
  • Mar 21, 2016 8:21am Mar 21, 2016 8:21am
Quoting mkfx
{quote} Hi Emmenual, Thanks for giving a very clear example of M Entry system. I may be wrong But as per my understand, in this scenario we need to have around 17K equity to trade even a minimum lot (0.01 Lot) . I assumed 1pip =$10 for a STD lot (100K). so for 0.01 lot 1 pip is 10 cent. and total pips distance to SL for all 5 entries is over 1700 pips. Which about $170 and 170 is equal to 1 % than required capital is 17K. Please correct me if I am wrong. Thanks MK MK
Hi MKFX,

I think you might be interested in this post.

Emmanuel has suggested using ADR(100) to calculate trade lot size for every entry when you are trading with small account. This means every ME will be same size.

In this case, the important question is how much are we actually risking based on where our SL is? Atleast that's something Im trying to understand better myself.

Best,
  • #67,285
  • Mar 21, 2016 9:46am Mar 21, 2016 9:46am
EA short at LO for +50 pips, TDI crossing Red, MBL and 50L at the same time
Attached Image (click to enlarge)
Click to Enlarge Name: H2.jpg Size: 349 KB
I Have Learned to Take Some Losses to Make Profits
  • #67,286
  • Mar 21, 2016 10:11am Mar 21, 2016 10:11am
Quoting TheScorpS
EA short at LO for +50 pips, TDI crossing Red, MBL and 50L at the same time {image}
Hi TheScorps,

can you please share the indicator to display the spread on the chart.

thanks in advance.

ven
  • #67,287
  • Edited 6:11pm Mar 21, 2016 10:38am | Edited 6:11pm
Hello everyone,

New here, discovered this forum and specifically this thread on another site.

My short time here I have devoured Big E's posts, but have yet to start applying in it in a demo account first. Ultimately, you don't really learn until you go "live" and use your hard earned money, taming your emotions only happen when you have real money at stake. I have also spotted the main players, that know this system best, and are willing to share their knowledge. So, my journey begins!!

Anyway, since I'm new, I'm unfamiliar with the unwritten rules on this thread of late, I'm wondering if newbies very basic questions are frowned upon and ignored (I know that was not the case in Eric's time). If that's the case, I would appreciate a heads up so I can avoid it in the future?!

Just In case I'm wrong, and my first post of the thread, and question to Mr. Emmanuel's BPP post: Post 67,257 was accidentally overlooked, I'll try again.

Thank you.
"Summer grasses, are all that remains of soldiers' dreams" - Matsuo Basho
  • #67,288
  • Mar 21, 2016 11:36am Mar 21, 2016 11:36am
Quoting catalin_eros
{quote} May I ask what you mean by that? Do you mean it is not valid anymore? If not, why?
I think what Emmanuel means here is that there is a gap that has not yet been filled.

Maybe he can explain more but this is a bit outside the scope of TMS I think

Best,
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Schermafdruk 2016-03-21 17.31.56.png Size: 55 KB
Click to Enlarge Name: Schermafdruk 2016-03-21 17.34.03.png Size: 25 KB
  • #67,289
  • Mar 21, 2016 11:47am Mar 21, 2016 11:47am
Quoting emmanuel7788
{quote} Hi Nik, Your 4K display sure creates a lot of bytes in the graphics files. Anyway, I just manage to cut only the relevant portion and made my comments on it. See below. The order distance between each ME trade can be simplified to just 50pips. We do not need to be precise because we want to get an overall better entry pruce with maximum 5 ME trades. This is the only comment I have. The other comments are technical which i wrote on the chart attached below. There are several system components on ME/ME money management strategy. I will PM...
Emmanuel,

Yes, the 4k screenshots can be a bit cumbersome, i will resize my charts so that screenshots are more practical.

Thanks for the comments, they have been noted.

I look forward to your PM with the additional components, i'm not sure whether me/me trading on d1 will be for me, but i do want to understand it fully and increase my knowledge of other trading methods. This is one of the reasons i enjoy this thread.

Thanks,
N

(PS, i also sent you a quick PM yesterday)
  • #67,290
  • Mar 21, 2016 11:54am Mar 21, 2016 11:54am
Quoting ven16
{quote} Hi TheScorps, can you please share the indicator to display the spread on the chart. thanks in advance. ven
Hi Scop I'm sort of new here, been following for awhile. Where do you get your chart indicators, like spread, direction of different timeframes etc.
Thanks
Craig
  • #67,291
  • Mar 21, 2016 12:10pm Mar 21, 2016 12:10pm
Dear Emmanuel,

As per your BPP, we have a D1 setup candle for a long position.

In the other hand, H4 showed a sell setup, we have a weekly resistance and the March MC high (the price is above but could once again go back to finally close inside the High/Low.)

So bet for a long could be quite risky.
Could you please tell me if my analyzis is correct?
Do you also think that this tradehas an high risk?

Thank you very much.

Cheers.

the D1 set up for
Quoting emmanuel7788
EURUSD Week 12 trading: This BPP attached should explain that question which I asked in this post#67,162. If you understand this BPP and trade plan, you can either make 200pips or 1000pips over the next 20 trading days.\ I can make 200 pips and still make more money than those who will make 1000pips. Do you want to make 1000pips? Ask if there is anything which you do not understand. Also GBPUSD has a D1 setup last week and you can also trade the pair instead. Please post...
  • #67,292
  • Mar 21, 2016 12:38pm Mar 21, 2016 12:38pm
Dear Emmanuel,

Should we considere the 17/03 D1 candle as MC now because the 3 following D candle closes between its HL?

In such a case, we should look for a buy setup candle in H4 (direction of the trend) with a resistance on this 17/03 high?

Thank you for your time and attention

Quoting emmanuel7788
GBPUSD Week 12 D1 chart BPP. Technically, we should see both EU ad GU to ride in the same direction but we need fundamental support. The major rate announcements were made last week, unless any unforeseen market event happen next week and the week after that, buying will be good. EURGBP is sideways now and we must e=keep watch on this pair. GBPUSD ADR(100) days is 129 pips and the Average Weekly range is 300 pips. We should be realistic when we trade the 4H swing next week. Just pay attention to the D candles and those monthly price swing levels...
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot2.png Size: 30 KB
  • #67,293
  • Mar 21, 2016 1:20pm Mar 21, 2016 1:20pm
Quoting emmanuel7788
{quote} Hi ensale, Thank you for sharing your USDCAD BPP. USDCAD is in a major correction of the monthly up trend. And looking at the Weekly, it has already ran 7 weekly candles after that W1 setup. To be on a safer side, I would be waiting for a retracement and avoid jumping into the market when this week open. D1 ' TDI VB is narrowing indication that the price momentum has reduced significantly. the past 10 D1 candles. H4 TDI is in the oversold OS region and this will be tempting many H4 traders to buy which can bring price up. Wait here! After...
Hi emma, thanks for responding to my BPP, I agree with your insight, the weekly is oversold and we have had no retracement or correction. better to wait on this one.

This encourages me to post one BPP a week so I can learn and get feedback from others...I feel The BPP is critical to successful position trading..
It's in fear when people show what they truly value.
  • #67,294
  • Edited 6:06pm Mar 21, 2016 5:51pm | Edited 6:06pm
Quoting catalin_eros
{quote} Hello, Emm! I am talking about this chart, where your notes say what the entry candle is, and also where the exit is. The exit is at the MN support, according to your notes. I thought you target only 60% of W1 52 ATR, not the S/R of MN chart. The exit you marked on the chart would make some sense if you measure 60% from the entry point, but from what I understood from another post of yours, we measure it not from the entry, but from the H or L of the...

Hi,

I do it this way:

- check the ATR(52) weeks when I do my BPP and trade plan
- calculate the values and price levels for 40%, 60% 100% and 120% of that ATR(52) weeks
- on Monday open which is also the new week open, I draw a line from the the week open to each of the price levels 40%,60%,100% and 120% ( 4 levels) above the open and 4 levels below the open.
- these 2 x 4 levels are now your potential target profit levels for buy and sell. Trade away for the open.
- as the market progresses, a new high/or low will made for the week, when the new high/low is seen on your chart, you will then move those 4 levels, for example, after a new high for the week is seen, you move the 4 levels from the new high of the week. This will now show you have 40%, 60% 100% and 120% from the new high. These are now the new target levels if you sell after the hgh of the week has been seen.

with the other support and resistance levels on your chart, you can determine where you will exit.

regards

below link for those who want to know more about ATR.

forex-indicators.net/volatility-indicators/atr
Attached Image (click to enlarge)
Click to Enlarge Name: How to calculate ATR.png Size: 94 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #67,295
  • Mar 21, 2016 6:13pm Mar 21, 2016 6:13pm
Quoting ensale
{quote} Hi emma, thanks for responding to my BPP, I agree with your insight, the weekly is oversold and we have had no retracement or correction. better to wait on this one. This encourages me to post one BPP a week so I can learn and get feedback from others...I feel The BPP is critical to successful position trading..

Hi ensale,

I always emphasized that we must not trade alone. It is good to have a trading buddy because 4-eyes will see more and when each trader has a 'third eye', we have 6-eyes....

I just took another look at USDCAD. That week 11 candle is a WRB and on D1, it there is possiibility that it will rectrace to 1.3150 and 1.3300 region. Then we look for selling at resistance in the lower TF.... sell high for this one.

Trade Well.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #67,296
  • Mar 21, 2016 6:21pm Mar 21, 2016 6:21pm
Quoting Arso
Dear Emmanuel, Should we considere the 17/03 D1 candle as MC now because the 3 following D candle closes between its HL? In such a case, we should look for a buy setup candle in H4 (direction of the trend) with a resistance on this 17/03 high? Thank you for your time and attention {quote} {image}

Hi Arso,

You have a Sunday candle on your D1 chart, right?
You need to decide how you want to treat this small Sunday candle. I got rid of Sunday candles since 2015.

Your are right about that Mar17 big day candle. Use that D1 WRB high -low as your support and resistance to trade the lower TF.

Trade Well.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD Week 12 D1 WRB H-L.png Size: 37 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #67,297
  • Mar 21, 2016 6:21pm Mar 21, 2016 6:21pm
Quoting emmanuel7788
EURUSD Week 12 trading: This BPP attached should explain that question which I asked in this post#67,162. If you understand this BPP and trade plan, you can either make 200pips or 1000pips over the next 20 trading days.\ I can make 200 pips and still make more money than those who will make 1000pips. Do you want to make 1000pips? Ask if there is anything which you do not understand. Also GBPUSD has a D1 setup last week and you can also trade the pair instead. Please post...
Hello Emmanuel,

maybe these are dumb newbie questions but I'm curious about the time when you enter the trade on Eur/USD. Do you enter right on the beginning of the week because I saw no h4 setup for trading long. Or do we start trading if it breaks the last weeks high and the near resistance at 1.3340?
As i understood this system we should look on the h4 screen to see the breakout early. Pleasem correct me if I'm wrong.

Thanks, I appreciate what you do for this thread and I hope one day I will also be a successful trader, but it seems like a dream right now.
  • #67,298
  • Mar 21, 2016 6:37pm Mar 21, 2016 6:37pm
Quoting Arso
Dear Emmanuel, As per your BPP, we have a D1 setup candle for a long position. In the other hand, H4 showed a sell setup, we have a weekly resistance and the March MC high (the price is above but could once again go back to finally close inside the High/Low.) So bet for a long could be quite risky. Could you please tell me if my analyzis is correct? Do you also think that this tradehas an high risk? Thank you very much. Cheers. the D1 set up for {quote}

Hi,

I am watching how EU will trade today. It it does not close above the high of last Thursday M17 candle, there may be trouble for buyers... won't help.


something which Big E mentioned in his posts about the TDI.

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD Week 12 use TDI reversal.png Size: 60 KB


regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #67,299
  • Mar 21, 2016 6:47pm Mar 21, 2016 6:47pm
Quoting tibovwh
{quote} Hi MKFX, I think you might be interested in this post. Emmanuel has suggested using ADR(100) to calculate trade lot size for every entry when you are trading with small account. This means every ME will be same size. In this case, the important question is how much are we actually risking based on where our SL is? Atleast that's something Im trying to understand better myself. Best,

SL is your potential loss when the market goes against your trades.

But, what about the potential profits when your are right and the market is always right.

It is all about entries and exits.

When do you scale-in and up-size your trades?
This is something only experience will teach you. Learning to trade with ME/ME took me 18 months more then 10,000 trades demo trading in live market conditions and using an account size which I had planned to trade live eventually. This is a good way to test your money management strategy to make sure you do all the position sizing calculation correctly when trading live later. Using a demo account the same size as you live account also help you develop your mental fitness be conditioned for live trading. Sports man and women especially the athletes go for high altitude training to condition their bodies.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #67,300
  • Mar 21, 2016 6:55pm Mar 21, 2016 6:55pm
Quoting Wokou
{quote} Hello Emmanuel, Question on the "TMS H4 entry" after the D1 setup? In this case, when you move down to the H4, do you wait for the APB/HA close above the 5EMA and the TDI cross to pull the trigger? I guess my question really is, when you drill down one TF for entry, do you treat it like any other TMS 5-Method entry, with its rules? If "yes", is this the case in all instances where you drill down one TF for Entry? Do you always drill down one TF for entry, from where the Setup candle occurs? Thank you.

Hi Wokou,

Please read this post#67,231.
The answer is in that post.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
37 traders viewing now