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Trading Made Simple the right way, and other trading lessons 324 replies

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Trading Made Simple

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Click to Enlarge Name: TMS is 5 today.png Size: 357 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
Quoting emmanuel7788
{image}
Yes, Happy Anniversary TMS, and thanks again BigEric . . . !!!
Congratulations Everyone. Eric (RIP)- An inspiration to us all.
"IN CASH WE TRUST"
Quoting Saripefx
Good morning Emmanuel. Also posted this question on another topic, I would different opinions, since I see that despite all being TMS, many operate differently. I have a hard time when my trade goes against me I usually close it before reaching my SL. Sometimes he came near my SL and returned to me. What should I do once my difinido SL, I expect to hit it? Thank you in advance for the answer.

Hi,

Please post your chart and I'll explain the different ways to determine Initial Stop Loss, Position Sizing using R and R-Multiple trade management, Trailing Stop Loss, Jumping Stop, etc. and how we "let profits run" to maximise profits.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
Quoting smartsociety
Sir emmanuel7788 Many many thanks . That is really generous and very helpful which you all the best & highly appreciated . I'll go through the old links you gave me , then move on to your (Darvas Box) idea to implement as well. I do not trust 5Method or 21/233 to be enough used alone.... I'll be back needing the summary to understand about Darvas box and the following updates.

Hi,

We all must learn to trust 'trend following' trading methodology. Both the 5-Method and 21/233 Method are trend following methods. We learn to trade reversals and also continuation after a reversal has been confirmed. Darvas Box can only be used after a reversal and a new trend is established and we look for market consolidation using Darvas Box and trade the breakout of the Darvas Box into the established trend.
We do not trade trend fading what some members are doing in other TMS threads.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
Pivots are calculated using the previous week's OHLC data. If the previous week was narrow range, then this week pivots levels are close to one another. If the previous week range is wide range, then this new week pivots are much farther apart making target profit 'hard to achieve'.

However, when we use the Average Weekly Range over a several number of weeks, for example 52-weeks average traded range, the target profit levels are more 'realistic' and achievable.


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Click to Enlarge Name: AUDUSD Week 17 TP using AWR 52 weeks.png Size: 70 KB


AUDUSD, beware of intra-week reversal to the downside. When this happen, we look at the new swing high this week and measure the number of pips to the next swing low... usually 60% of the 52-weeks AWR.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
Quoting emmanuel7788
Pivots are calculated using the previous week's OHLC data. If the previous week was narrow range, then this week pivots levels are close to one another. If the previous week range is wide range, then this new week pivots are much farther apart making target profit 'hard to achieve'. However, when we use the Average Weekly Range over a several number of weeks, for example 52-weeks average traded range, the target profit levels are more 'realistic' and achievable. {image} AUDUSD, beware of intra-week reversal to the downside. When this happen, we...
Hello, Emm!

Hmmmm... I know MN is strongly bullish, but based on the last W1 candle (shooting star), I am short on this pair this week. Your picture tells me you are long, so should I assume the W1 shooting star is not important to you at all? Besides, H4 is kind of a very long way to the MN. I mean there is not really a connection between these two TFs, because the distance is too big between them. It's better to connect W1 with H4, in my opinion, in order to establish a direction. MN/H4 is like looking at D1 to trade M1. I am looking forward to your inputs.

P.S.: "we look at the new swing high this week and measure the number of pips to the next swing low... usually 60% of the 52-weeks AWR. " That tells me you are short, also? So your pic points to targets on the upside, and your text speaks of bearish targets. What am I missing?
Quoting catalin_eros
{quote} Hello, Emm! Hmmmm... I know MN is strongly bullish, but based on the last W1 candle (shooting star), I am short on this pair this week. Your picture tells me you are long, so should I assume the W1 shooting star is not important to you at all? Besides, H4 is kind of a very long way to the MN. I mean there is not really a connection between these two TFs, because the distance is too big between them. It's better to connect W1 with H4, in my opinion, in order to establish a direction. MN/H4 is like looking at D1 to trade M1. I am looking forward...

Hi,

Your weekly shooting star candle will not reverse this pair so easily.
Day position traders remains in long positions and will hold out the correction.
4H swing traders can trade both ways this week if the correction is deep enough for 2R trades.
otherwise, 4H swing traders should wait for buy setups and ride with the longer term traders.... until the next RBA rate decision.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
Quoting emmanuel7788
{image}
Thank you again for your generosity in sharing the great system Sir Eric! RIP.........!!!!
Quoting emmanuel7788
{quote} Hi, Your weekly shooting star candle will not reverse this pair so easily. Day position traders remains in long positions and will hold out the correction. 4H swing traders can trade both ways this week if the correction is deep enough for 2R trades. otherwise, 4H swing traders should wait for buy setups and ride with the longer term traders.... until the next RBA rate decision. regards,
I see. I am not looking for the shooting star to reverse the pair. I am only looking to sell it high, for at least 60% of 52 W1 ATR. Just as you said: "4H swing traders can trade both ways this week".

Thanks, Emm!
​HI, Question? How do I figure the 52 week AWR? Is there an indicator for this.

Thanks
GU
seems strong buy H1 H4
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Quoting leescofield
GU seems strong buy H1 H4 {image}

GBPUSD buy targets...

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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
Quoting noahcraig54
​HI, Question? How do I figure the 52 week AWR? Is there an indicator for this. Thanks
Plot the ATR on the chart (you have it on your MT4), set its value to 52 (Inputs), and then read its value on the W1 chart (on the closed candle).
Quoting emmanuel7788
{quote} Hi, Please post your chart and I'll explain the different ways to determine Initial Stop Loss, Position Sizing using R and R-Multiple trade management, Trailing Stop Loss, Jumping Stop, etc. and how we "let profits run" to maximise profits. regards,
Good morning Emmanuel, thanks for the reply. Follows the graph. Good week.
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Quoting emmanuel7788
Pivots are calculated using the previous week's OHLC data. If the previous week was narrow range, then this week pivots levels are close to one another. If the previous week range is wide range, then this new week pivots are much farther apart making target profit 'hard to achieve'. However, when we use the Average Weekly Range over a several number of weeks, for example 52-weeks average traded range, the target profit levels are more 'realistic' and achievable. {image} AUDUSD, beware of intra-week reversal to the downside. When this happen, we...
Hi Emmanuel!
What is the name of this average weekly range indicator so I can find it on papperclip?

Thanks!
Quoting mokuro89
{quote} Hi Emmanuel! What is the name of this average weekly range indicator so I can find it on papperclip? Thanks!
find bridgewater
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Quoting emmanuel7788
{quote} Hi, There are many different ways how traders look at the Average Daily Range. Most traders use the platform's ATR which shows true range which include any price gaps. A good website to read up : http://forex-indicators.net/volatility-indicators/atr For those traders trading intraday on H1 or M15, there is a very good ADR marker posted in this thread: http://www.forexfactory.com/showthre...92#post5321992 http://www.forexfactory.com/showthre...04#post7972304 The defaults number of days...
Thank you Mr. Emmanuel, for your help and your time!!

EDIT:
To get the "52-Weeks average trading range", do I just do a ATR(52) on a weekly chart?
Is there indicator you have on the attached H4 chart available for public use?
Quoting emmanuel7788
{quote} GBPUSD buy targets... {image}
But.. to be aware of the resistance formed by the weekly WRB / Master candles..
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By failing to prepare, you are preparing to fail - Benjamin Franklin
Quoting leescofield
{quote} find bridgewater {image}
found it
Thanks!


Quoting TibetSun
{quote} Thank you Mr. Emmanuel, for your help and your time!! EDIT: To get the "52-Weeks average trading range", do I just do a ATR(52) on a weekly chart? Is there indicator you have on the attached H4 chart available for public use?
check above link
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