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Trading Made Simple

  • #68,321
  • Apr 14, 2016 4:45pm Apr 14, 2016 4:45pm
Setup candle on AUDCAD D1?
Attached Image (click to enlarge)
Click to Enlarge Name: 05.PNG Size: 77 KB
  • #68,322
  • Apr 14, 2016 5:02pm Apr 14, 2016 5:02pm
Quoting mokuro89
Setup candle on AUDCAD D1? {image}

nice but this pair has very small weekly trading range compared to EURCAD and GBPCAD.

I leave these pairs - AUDCAD and AUDNZD to big speculators and forex gamblers...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #68,323
  • Apr 14, 2016 5:23pm Apr 14, 2016 5:23pm
Quoting BridgeWater
Emm, im found alot of fun with ME/ME on daily chart, thanks for that. But why ME/ME? what advantages of ME/ME on daily chart?

Hi,

we can spend all day talking about pros and cons of anything.
but let me say why I chose to trade with ME/ME over SE/SE like Big E.

Big E suggested that those who have days job can trade the Day chart. He also mention that we should not be afraid to trade the H4 and Day thinking that the stop loss can be much bigger. However, he dislike to trade the Day because of the pull back which he said can be 100 pips on Day. Reason is because he traded with very high risk of 15% to 30% of his $10k account and making one single entry of 2 to 5 standard lots.

But why not use the pull back on Day chart to build up our position instead of missing the setups when we trade with SE/SE.
We never know if the reversal setup will run into a new trend, so by trading with smaller risk and small lots size get into the market and let it develop. Only when we see a new trend established, we add-on more trades in the trending market. As the market continues to trend, we can take profits by using multiple exits during the 'pause' and re-enter again after the 'pause'. This is how I as an investor-trader would trade any market.

The key is that we are always in the market to make money. We don't make money standing at the sideline watching and waiting for the setups.
The fun part for me is that I have more free time to do other more fun things in life everyday. I only spend 2 to 3 hours every weekend to update my Big Picture Plans for 16 pairs and prepare my weekly trade plan. With my weekly trade plan, I know which day I will need to open my trades and let my trade manager run and manage the all my trades. I only check occasionally once every 4 ~ 6 hours and I can have my full 8 hours sleep every night. Trading has never been so easy but it took me many years to reach this stage. I am not even trading for a living. I trade to build wealth and my children' and grandchildren' inheritance. I seriously doubt there are many retail traders who can trade for a living. Its only all rookie talk here in FF. I know very few people can do it but these people have large capital base and also passive income which pay for their family and living expenses.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #68,324
  • Apr 14, 2016 5:28pm Apr 14, 2016 5:28pm
Quoting leescofield
{quote} HI,Emm.The pdf "how to build a position"you shared is very interesting.Thanks!

You want to learn to trade this spot forex market and make some money, you need a lot of knowledge and experience.

Go learn from people who do it professionally. Not here in FF. Rookies talk about having the edge. These rookies have no clue what their edge is.

Attached Image
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #68,325
  • Apr 14, 2016 5:39pm Apr 14, 2016 5:39pm
Quoting Trader MT4
{quote} Yes, thanks. initial SL cca 100 pips

Here is USDCAD training chart.
Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD Week 15 April 15 training chart.png Size: 80 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #68,326
  • Apr 14, 2016 6:05pm Apr 14, 2016 6:05pm
Quoting TheRock
Hey everyone,​ Just wanted some opinions on my analysis of a short on the USDJPY. I'm seeing a strong bearish movement monthly and weekly. Last two days have been a bullish correction. We did get a bearish engulfing candle a few candles back as we can see below. We also got a bounce off the Fib Pivot Monthly S78 level. We could potentially see a MC(3), if there is a close between the two gold lines below, and wait for the bearish breakout closing below the 109.000 level with momentum. or if the current candle closes below the bottom gold line...

It is Friday, I won't open any 4H swing trades or new Positions.
No buyers will push this higher today. But if that happens, then come back next week to catch the entry on retracement.

But good for very short term trading today - M15 and H1. Do not expect 50 to 100 pips today. 10 to 20pips for M15, 30 pips for H1.... for 2 ~ 3 hours on screen time.

Attached Image (click to enlarge)
Click to Enlarge Name: USDJPY Week 15 April 15.png Size: 71 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #68,327
  • Apr 14, 2016 9:59pm Apr 14, 2016 9:59pm
Quoting emmanuel7788
{quote} You want to learn to trade this spot forex market and make some money, you need a lot of knowledge and experience. Go learn from people who do it professionally. Not here in FF. Rookies talk about having the edge. These rookies have no clue what their edge is. {image}
I've searched the thread for your PDF about "How to Build a Position".

The forum wont let me search back far enough to find it, I found very many other useful materials though!

Could you re-post the document?

I've been having about 50% success with the original TMS system. I read the entire pdf about Big E's most important posts about the TMS system.

I always look at basic Forex principals before entering trades, such as previous candle size, support and resistances in recent history, as well as making sure I don't open trades with pairs that contradict each other for a net profit.And, I ensure the TDI cross is at the 1 o'clock or 5 o'clock positions. I also only open trades right at the open of a new 4-hour candle.

I will be sure to provide screenshots of failtrades, but I'm sick and tired of waking up to half of my trades ending up losers.

Is there anything considerable that I can add to my screening arsenal outside of adding too much clutter? I like my charts as simple as possible.

I'm looking forward to gaining more insight via this epic thread and finding the best way to build trades, and collaborate with everyone to beat the brokers!
  • #68,328
  • Apr 14, 2016 11:44pm Apr 14, 2016 11:44pm
Quoting emmanuel7788
{quote} nice but this pair has very small weekly trading range compared to EURCAD and GBPCAD. I leave these pairs - AUDCAD and AUDNZD to big speculators and forex gamblers...
ha,ha,ha..amen
the cautious seldom err....C
  • #68,329
  • Apr 15, 2016 12:12am Apr 15, 2016 12:12am
Quoting Pipb0y
{quote} I've searched the thread for your PDF about "How to Build a Position". The forum wont let me search back far enough to find it, I found very many other useful materials though! Could you re-post the document? I've been having about 50% success with the original TMS system. I read the entire pdf about Big E's most important posts about the TMS system. I always look at basic Forex principals before entering trades, such as previous candle size, support and resistances in recent history, as well as making sure I don't open trades with pairs...
u can go to paperclip and sort it by names (by clicking on it)

but here's the document.
Attached File(s)
File Type: pdf app1.pdf   521 KB | 587 downloads
  • #68,330
  • Apr 15, 2016 12:12am Apr 15, 2016 12:12am
Quoting leescofield
[BL] Beat the Forex Dealer.zip.001 [BL] Beat the Forex Dealer.zip.002 [BL] Beat the Forex Dealer.zip.003 [BL] Beat the Forex Dealer.zip.004 [BL] Beat the Forex Dealer.zip.005 After downloaded ALL 5 files! change the each file name to above in sequence. Then extract them together with 7z or Winrar. Because the pdf book is big,so I seperated it into 5 parts. {image} {image} {image} {file} {file} {file} {file} {file} {image} {image}
I am unable to unzip or open these zip files--Windows is telling me the archives are empty, I'm not sure why since they were all ~10MB. This document looks really useful from what I've seen online though!
  • #68,331
  • Apr 15, 2016 12:57am Apr 15, 2016 12:57am
Quoting emmanuel7788
{quote} It is Friday, I won't open any 4H swing trades or new Positions. No buyers will push this higher today. But if that happens, then come back next week to catch the entry on retracement. But good for very short term trading today - M15 and H1. Do not expect 50 to 100 pips today. 10 to 20pips for M15, 30 pips for H1.... for 2 ~ 3 hours on screen time. {image}
​Cheers for the advice Emm.

I see that price has now closed above the MC(3), if this was any other day than Friday, would it have been a higher probable trade for a long?

Also, I was analysing for a short in my previous post, was my analysis incorrect from what you can see, or is this a case of Plan A and Plan B. What I find difficult is long term trend (monthly and weekly is bearish), however last 2 days have been bullish, how do we analyse which way we think it will go? How did you decide that we are more likely still looking at bullish movement over bearish?
  • #68,332
  • Apr 15, 2016 1:40am Apr 15, 2016 1:40am
Quoting emmanuel7788
{quote} Hi, we can spend all day talking about pros and cons of anything. but let me say why I chose to trade with ME/ME over SE/SE like Big E. Big E suggested that those who have days job can trade the Day chart. He also mention that we should not be afraid to trade the H4 and Day thinking that the stop loss can be much bigger. However, he dislike to trade the Day because of the pull back which he said can be 100 pips on Day. Reason is because he traded with very high risk of 15% to 30% of his $10k account and making one single entry of 2 to 5...
Emm, I try give opinion with my short trading journey. You are right, trading is never been easy, it took me 3 years to learn from basic, start 2010.
Before i using TMS on daily chart with ME/ME, i trade forex with fix lot about 3-5% of my account with TMS. i trade H4 using MTFA, sometimes just STFA, with SE/SE, because its fit to me. Yes, it profitable like 70%-80%, per month can banked 300-1000 pips for me. In Indonesia, i can make "trade for a living" with 300-1000 pips per month. Im always affraid of Daily chart, and never daring to learn your ME/ME on daily chart, because of big stoploss, big retracement, far swing to put SL, if im wrong it cost me big losses, etc. Someday, im boring with my trading style, and start to read allover your post again about ME/ME on daily chart, and try it live.
Guess what, actually its more fun anyway, more trade, more pips, more profit factor, more win rate, and most important its kill my fear about daily chart, i think its because of appropriate Money Management and use retracement for Multiple Entry, its really killing fear of daily chart. The concept of ME/ME is very good bonding with TMS. TMS more profitable, now i can banked over 1500 pips last week, before i only make 300-1000 pips per month with old style. This is big change to my trading journey. On daily chart i found its more easy to follow market. But it will hurt when i wrong make BPP/MTFA, but it not problem because Money Management that you teach us here. I think it will more fun again if i have Trade Manager to manage ME/ME on daily chart.

Regards,
  • #68,333
  • Apr 15, 2016 1:48am Apr 15, 2016 1:48am
Quoting leescofield
{quote} Have you download all files? Then select all of them. Ctrl+A{image} Right click button,Select 7-Zip,Extract {image} {image} {image} {image}
Thank you, I figured it out. I'm going to learn many new principles here and in the documents, looking forward to more confidence and predictability in my system.
  • #68,334
  • Apr 15, 2016 1:49am Apr 15, 2016 1:49am
Quoting BridgeWater
{quote} Emm, I try give opinion with my short trading journey. You are right, trading is never been easy, it took me 3 years to learn from basic, start 2010. Before i using TMS on daily chart with ME/ME, i trade forex with fix lot about 3-5% of my account with TMS. i trade H4 using MTFA, sometimes just STFA, with SE/SE, because its fit to me. Yes, it profitable like 70%-80%, per month can banked 300-1000 pips for me. In Indonesia, i can make "trade for a living" with 300-1000 pips per month. Im always affraid of Daily chart, and never daring to...
how you set with the SL,TP.
Can you share it?Because there're always a big problems with SL
  • #68,335
  • Apr 15, 2016 2:11am Apr 15, 2016 2:11am
Quoting leescofield
{quote} how you set with the SL,TP. Can you share it?Because there're always a big problems with SL
you already ask me same question on post 68,236
see my picture at post 68,224

This is how i set TP:
Entry-1 set TP +100 pips.
Entry-2 triggered, and then TP moved to +100 pips from average entry price.
Entry-3 triggered, and then TP moved to +100 pips from average entry price.

This is how i set SL:
Entry-1 set SL -400 pips.
Entry-2 triggered, and then SL moved to -400 pips from average entry price.
Entry-3 triggered, and then SL moved to -400 pips from average entry price.
do not wait stoploss touched, see nearest swing, price action at S/R on daily chart, trade invalidation, how deep retracement is, cut you losses short.
  • #68,336
  • Apr 15, 2016 2:42am Apr 15, 2016 2:42am
Leescofield,
I can't open it.
Please share in googledrive,

dan
  • #68,337
  • Apr 15, 2016 2:50am Apr 15, 2016 2:50am
Title：Beat the Forex Dealer
FormatDF
Part1 1-70 pages
Part1 71-140 pages
Part3 141-200 pages
Part3 201-238 pages
Done.My network speed is dead slow！
Attached Image
Attached File(s)
File Type: pdf [BL] Beat the Forex Dealer1-70.pdf   9.8 MB | 31,573 downloads
File Type: pdf [BL] Beat the Forex Dealer71-140.pdf   9.5 MB | 759 downloads
File Type: pdf [BL] Beat the Forex Dealer141-200.pdf   8.5 MB | 1,958 downloads
File Type: pdf [BL] Beat the Forex Dealer201-238.pdf   7.3 MB | 717 downloads
  • #68,338
  • Apr 15, 2016 2:58am Apr 15, 2016 2:58am
Quoting leescofield
Title：Beat the Forex Dealer FormatDF Part1 1-70 pages Part1 71-140 pages Part3 141-200 pages Part3 201-238 pages Done.My network speed is dead slow！ {image} {image} {image} {image} {image}
thanks
  • #68,339
  • Apr 15, 2016 3:00am Apr 15, 2016 3:00am
Quoting BridgeWater
{quote} Emm, I try give opinion with my short trading journey. You are right, trading is never been easy, it took me 3 years to learn from basic, start 2010. Before i using TMS on daily chart with ME/ME, i trade forex with fix lot about 3-5% of my account with TMS. i trade H4 using MTFA, sometimes just STFA, with SE/SE, because its fit to me. Yes, it profitable like 70%-80%, per month can banked 300-1000 pips for me. In Indonesia, i can make "trade for a living" with 300-1000 pips per month. Im always affraid of Daily chart, and never...
Hey, what is STFA and MTFA?
  • #68,340
  • Apr 15, 2016 3:03am Apr 15, 2016 3:03am
Quoting TheRock
{quote} Hey, what is STFA and MTFA?
STFA = Single Time Frame Analysis
MTFA = Multiple Time Frame Analysis
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