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Trading Made Simple

  • #67,701
  • Mar 31, 2016 12:51am Mar 31, 2016 12:51am
sry for a noobie question, what is the use of CaveManager (CM) ? looks nice on the chart lol
  • #67,702
  • Mar 31, 2016 12:58am Mar 31, 2016 12:58am
Btw, im waiting of EU setup
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDH4.png Size: 56 KB
  • #67,703
  • Mar 31, 2016 1:26am Mar 31, 2016 1:26am
Quoting leonlee0116
sry for a noobie question, what is the use of CaveManager (CM) ? looks nice on the chart lol

when you don't read this thread, you miss a lot...

If you trade with Single Entry and Multiple Exits (scaling-out) SE/ME, CaveManager does a wonderful job taking profits for you and moving SL to protect your capital.
Lots of nice features and you can learn from how it many different ways you can defne your trade exit management.

Everything you need is in this post: Try it!

http://www.forexfactory.com/showthre...05#post8831405
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #67,704
  • Mar 31, 2016 1:26am Mar 31, 2016 1:26am
Quoting leonlee0116
Btw, im waiting of EU setup {image}
Hi leon,
Newbie question but what are you waiting for? Green has crossed Red and is overbought. Second candle is underway and is bearish colour too. What now?
  • #67,705
  • Edited 2:00am Mar 31, 2016 1:42am | Edited 2:00am
Quoting leonlee0116
Btw, im waiting of EU setup {image}

Post#647:

these checklist questions are basic forex stuff... that's what Big E considered them to be:

How close am I to the previous high or lo

Am I in an uptrend or downtrend.. short & long term...

Am I in or close to a consolidation area

Are the previous candles small...

Look at the candles on the last reversal... big, little, what

Edit:

add chart below

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD Week 13 Mar 31 H4 MC-3.png Size: 62 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #67,706
  • Mar 31, 2016 1:56am Mar 31, 2016 1:56am
Hi Emm,
1st question of the day
how i can get lesson about SCL system?
Joining The 10%
  • #67,707
  • Mar 31, 2016 2:02am Mar 31, 2016 2:02am
Quoting AcanaTrader
Hi Emm, 1st question of the day how i can get lesson about SCL system?

what is SCL?

we have far too many acronyms already and newbies will be confuse more.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #67,708
  • Mar 31, 2016 2:08am Mar 31, 2016 2:08am
Quoting emmanuel7788
{quote} what is SCL? we have far too many acronyms already and newbies will be confuse more.
is it Smart Cut Loss ?
Sad i'm not trying to understand PA
  • #67,709
  • Mar 31, 2016 2:08am Mar 31, 2016 2:08am
Quoting Bill618
{quote} Hi leon, Newbie question but what are you waiting for? Green has crossed Red and is overbought. Second candle is underway and is bearish colour too. What now?
im waiting for a larger candle, just like emmanuel7788 said
  • #67,710
  • Mar 31, 2016 2:15am Mar 31, 2016 2:15am
Quoting emmanuel7788
{quote} what is SCL? we have far too many acronyms already and newbies will be confuse more.
im sorry
SCL system = SmartCutLoss System

one of the best cutloss system
Joining The 10%
  • #67,711
  • Mar 31, 2016 2:16am Mar 31, 2016 2:16am
Quoting leonlee0116
{quote} im waiting for a larger candle, just like emmanuel7788 said

why wait for larger candle?
isn't one MC[3} enough for you to make a trade Go/No-Go decision?

goo look for another pair to trade, not for another larger candle in EU.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #67,712
  • Mar 31, 2016 2:18am Mar 31, 2016 2:18am
EURAUD H1 at London Open LO now...

Do you see LO candle set the high of the session?
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #67,713
  • Mar 31, 2016 2:20am Mar 31, 2016 2:20am
Quoting emmanuel7788
{quote} why wait for larger candle? isn't one MC[3} enough for you to make a trade Go/No-Go decision? goo look for another pair to trade, not for another larger candle in EU.
i thought a larger bear candle can make this signal valid
  • #67,714
  • Mar 31, 2016 2:20am Mar 31, 2016 2:20am
Quoting AcanaTrader
{quote} im sorry SCL system = SmartCutLoss System one of the best cutloss system

so your SCL mean SMARTCutLoss ...

who said it is one of the best cutloss system? I did not say that.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #67,715
  • Mar 31, 2016 2:27am Mar 31, 2016 2:27am
Quoting emmanuel7788
{quote} so your SCL mean SMARTCutLoss ... who said it is one of the best cutloss system? I did not say that.
for sure, im saying that
base on your post about smartcutloss system
i see that very effective, because its base volatility
very cool system
Joining The 10%
  • #67,716
  • Mar 31, 2016 2:31am Mar 31, 2016 2:31am
I have set up the CM ea according the pdf for the input. But the pdf does not state the usage.
i have to put sl and tp my own or the ea will manage all of it?
  • #67,717
  • Mar 31, 2016 2:44am Mar 31, 2016 2:44am
Quoting emmanuel7788
{quote} why wait for larger candle? isn't one MC[3} enough for you to make a trade Go/No-Go decision? goo look for another pair to trade, not for another larger candle in EU.
What is MC[3} ?
  • #67,718
  • Mar 31, 2016 2:49am Mar 31, 2016 2:49am
Quoting Bill618
{quote} What is MC[3} ?

MC[3] is Master Candle 3

here more old posts to read...
Master Candle (3): Post#54,546
Master Candle : Post#28,556 pdf in Post#25,594

then there are :

Inside Bar : Post#42,301
Mother Bar : Post#55,045

these are some of the Price Action stuff I use for TMS 5-Method trading instead of saying big candles and small candles, we have clear define price bar patterns to look for.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #67,719
  • Mar 31, 2016 2:55am Mar 31, 2016 2:55am
Quoting emmanuel7788
EURAUD H1 at London Open LO now... Do you see LO candle set the high of the session?
I'M short EA too but doesn't look like it's going anywhere, breaking through the 200MA to the upside. What's your thoughts? My GU short is running fine up 40+ so far. I will try to post charts later. Thanks
  • #67,720
  • Mar 31, 2016 3:07am Mar 31, 2016 3:07am
Quoting emmanuel7788
{quote} These two articles should explain the maximal drawdown statistics generated by MT4 accountung. https://forum.mql4.com/31751 https://www.mql5.com/en/articles/1486
Those two articles relate to the strategy tester where it is measuring equity, however in a normal running account with mt4 it is not looking at equity, but at balance/closed trades only. So my question was, if last week was the highest drawdown you had at $6304.69 you didn't have that high this week so how can the percentage go up?
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