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Trading Made Simple

  • #69,401
  • Jun 7, 2016 2:47am Jun 7, 2016 2:47am
Quoting okoso
{quote} Hi Emmanuel. I am sure this has been asked but I'll ask it again. Why do you open a new basket instead of just keeping the existing position open? Cheers,
One of my rule is "take what the market gave me, give little back..." and close observation of the BPP and price action.

Look at the PA and S7R on Day chart, there is a support level where potential bounce. So I first took profits with the 2 trades, and so long as my trade setup is still valid and there is no trade invalidation, I will let the bounce re-open new ME trades. This way, I can get a better average entry price with several ME trades during the price bounce.

In other scenario where there is no S&R in the direction of the 'trend', I will protect the older trades and add new one with ME and also can use larger trade lots size to increase profits.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPCAD Week 23 ... support bounce.png Size: 62 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #69,402
  • Jun 7, 2016 2:48am Jun 7, 2016 2:48am
Quoting emmanuel7788
GBP pairs
Hi dear friend, I took notice of it, thanks anyway. I've read somewhere the 16 pairs you are trading on. It's remarkable that you don't trade the CHF currency. I think, there is a good reason for it and you are an experienced trader and for the time being I changed my pairs to yours. There is no doubt that you have been told why you don't trade the Swissy but please, can you tell me again why? Otherwise I have to search in this huge topic. Thanks and keep up the good work.
Keep it simple without too many crappy indicators!
  • #69,403
  • Jun 7, 2016 2:57am Jun 7, 2016 2:57am
Quoting mizi123
EUR/CAD in good position to be selled (im allsaw in on EUR/AUD ) {image}
Hi Mizi, I like your style of trading, keep it simple and get in on significant crossings green/red together with color changing Bars. One question/remark : I see your Stochastic is on 10/3/3. Why is that, original is 8/3/3. It's not that important because I have loaded the stoch in my charts but most of the time I forget the stoch but please, let me know. Maybe you have a good reason for it? And what is your shift setting of the EMA5? I use 2, maybe you use 3? This is also less important in my opinion because PA Bars together with TDI green crosses red is King. Some people are using the PAC, a little bit slower but also very good. Stick to your plans!!! I know, it sounds easy but it isn't. Everybody here, keep up the good work and happy trading!
Keep it simple without too many crappy indicators!
  • #69,404
  • Jun 7, 2016 3:09am Jun 7, 2016 3:09am
Quoting luvene
{quote}Hi Mizi, I like your style of trading, keep it simple and get in on significant crossings green/red together with color changing Bars. One question/remark : I see your Stochastic is on 10/3/3. Why is that, original is 8/3/3. It's not that important because I have loaded the stoch in my charts but most of the time I forget the stoch but please, let me know. Maybe you have a good reason for it? And what is your shift setting of the EMA5? I use 2, maybe you use 3? This is also less important in my opinion because PA Bars together with TDI green...

Hi,

EURUSD and USDCHF are inverse correlated pairs, they move in opposite direction all the time. So it is enough for me to trade EURUSD alone.

The other reason is SNB intervention. Remember what happen in the week of Jan 11 2015, that Day was 15 Jan 2015 and that crazy big move by SNB closed down a few brokerage firms. Forex trading is not the same after that day. Those who traded without stop loss lost their trading accounts.

With 16 pairs in my watchlist, there are enought trade opportunties every week for 4H swing and also for Day Positon trading every month. It;s quite a lot of work to prepared my BPP, trade plan, etc. every weekend.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #69,405
  • Jun 7, 2016 3:18am Jun 7, 2016 3:18am
Quoting emmanuel7788
{quote} One of my rule is "take what the market gave me, give little back..." and close observation of the BPP and price action. Look at the PA and S7R on Day chart, there is a support level where potential bounce. So I first took profits with the 2 trades, and so long as my trade setup is still valid and there is no trade invalidation, I will let the bounce re-open new ME trades. This way, I can get a better average entry price with several ME trades during the price bounce. In other scenario where there is no S&R in the direction of the 'trend',...
Hi Emmanuel.

Thank you very much for the clear answer. I am learning a lot by being on the same trade as you even if mine is on demo, but my feeling is this time the trade is going well as per your plan so it is more or less simpler. Next time, I would love you show us how you manage a trade that goes against you. Thank you very again.

Cheers
  • #69,406
  • Jun 7, 2016 3:31am Jun 7, 2016 3:31am
Quoting pete.alfa
{quote} TMS friends, The reason I use 10ema instead of 5ema shift3 because the powerful of 10ema and both EMAs nearly give the same result. 10ema details(I copied from Emmanuel notes long time ago) I also attach 10ema dashboard indicator here too. I am doing very very short note(TMS Summary Pdf). I will share to you all when it done(soon). 10ema is the King M15 50 ema @ m15 = 10 ema @ h1 200 ema @ m15 = 50 ema @ h1 = 10 ema @ h4 800 ema @ m15 = 200 ema @ h1 = 50 ema @ h4 = 10 ema @ daily H1 50 ema @ h1 = 10 ema @ h4 200 ema @ h1 = 50 ema @ h4...
Cheers Pete!
  • #69,407
  • Jun 7, 2016 3:32am Jun 7, 2016 3:32am
Hi Emmanuel,

You should be proud!!

AU basket currently running... some profits taken, new basket started
Attached Image (click to enlarge)
Click to Enlarge Name: AU tp.jpg Size: 126 KB


UCad..I decided against GBP pairs just too risky for me at moment. UCad had similar set up according to my planning

Attached Image (click to enlarge)
Click to Enlarge Name: ucad.jpg Size: 119 KB
  • #69,408
  • Jun 7, 2016 3:46am Jun 7, 2016 3:46am
Quoting luvene
{quote}Hi Mizi, I like your style of trading, keep it simple and get in on significant crossings green/red together with color changing Bars. One question/remark : I see your Stochastic is on 10/3/3. Why is that, original is 8/3/3. It's not that important because I have loaded the stoch in my charts but most of the time I forget the stoch but please, let me know. Maybe you have a good reason for it? And what is your shift setting of the EMA5? I use 2, maybe you use 3? This is also less important in my opinion because PA Bars together with TDI green...
Nothing special bro i like ti when is flatern because it gives me better results when lines cros ech other
  • #69,409
  • Jun 7, 2016 5:01am Jun 7, 2016 5:01am
Hi,

It's always damned easy looking at history charts but it is the only way for learning. Hereby an example of the Daily Chart on EURUSD for the last couple of months. 7 significant and excellent setups with a lot of potential for profits.

Watch the image in the attachment.
The dotted yellow vertical lines are possible entries, as you can see they are damned good, good angle
The yellow line of the TDI is not important, keep it simple, of course you can't avoid some losing trades.

The red crosses before the yellow lines are the last Swing/High
Attached Image (click to enlarge)
Click to Enlarge Name: DAILIES_EXAMPLE.png Size: 87 KB
or Swing/Low.
That's the level you have to set your stoploss on it.
You have to do the same for the 4H timeframe.

Keep it simple!! That's rule number 1.

Happy trading to you all.
Keep it simple without too many crappy indicators!
  • #69,410
  • Jun 7, 2016 5:08am Jun 7, 2016 5:08am
  •  313
  • | Joined Jun 2015 | Status: Strive and Overcome! | 46 Posts
Man it's amazing this thread keep making money. i wonder tho how come i can't arrived at your place guys. simple and profitable. damn
  • #69,411
  • Jun 7, 2016 5:47am Jun 7, 2016 5:47am
Quoting bigpips
Hi Emmanuel, You should be proud!! AU basket currently running... some profits taken, new basket started {image} UCad..I decided against GBP pairs just too risky for me at moment. UCad had similar set up according to my planning {image}
Hi bigpips, would you mind sharing your EA????.... Thank you....
  • #69,412
  • Jun 7, 2016 7:05am Jun 7, 2016 7:05am
Quoting inforserve
There were many mistakes made wining trades to losing trades caused by greed and fear and not following my trading plan. Otherwise it could be another successful week. Try again next week. Have good weekend!!!! {image}
Hey guys, where can i get the acc details like this?
  • #69,413
  • Jun 7, 2016 7:18am Jun 7, 2016 7:18am
  •  313
  • | Joined Jun 2015 | Status: Strive and Overcome! | 46 Posts
Quoting leonlee0116
{quote} Hey guys, where can i get the acc details like this?
1. open account history on your terminal (it's between exposure and news)
2. right click save as report detail
  • #69,414
  • Jun 7, 2016 8:17am Jun 7, 2016 8:17am
Quoting emmanuel7788
{quote} My Currency Trading WatchList is now 16 pairs: AUDUSD EURUSD GBPUSD NZDUSD USDCAD EURAUD EURNZD EURCAD EURGBP GBPAUD GBPNZD GBPCAD USDJPY AUDJPY EURJPY GBPJPY These 16 pair watchlist will give me 5 good trades every week for 4H Swing. No need to overtrade and not need to aim for high win rate above 70 percent. Your risk percent management with position sizing and your exit strategy and a high Expectancy is what that matters more than win rate alone. I use the TMS Monitor to provide me the setup alerts without the need to monitor my charts...
Hi Emm,
Today i saw TMS Monitor on EURNZD Heiken Ashi MN=Red, W1=Red, D1=Green, H4=Red
After im reattach TmsMonitor-v1.1, Heiken Ashi D1 turn Red

Im sorry, it alittle bug?

Regards,
  • #69,415
  • Jun 7, 2016 8:30am Jun 7, 2016 8:30am
I appreciate all the efforts done by every helpful member here. Before TMS, I lose about 70% of my deposit, and I felt hopeless because my study in harmonic pattern is kinda hard and keep losing money. In April, I found this thread accidentally, but what makes me stop by at here is I saw new posts everyday and it is the most active thread I ever saw in FF even this thread was created long time ago. Then I started to read the thread. At first I'm profiting but after a week I started to lose money. When I feel like to give up, I saw some other traders are also struggling with the trading method. I continue to study and until now, my account has profited around 200%. I think I found a way to trade, but never stop learning!

I think I started TMS at 15x ++
Attached Image (click to enlarge)
Click to Enlarge Name: 1.PNG Size: 9 KB
  • #69,416
  • Edited 8:50am Jun 7, 2016 8:35am | Edited 8:50am
Hi Emmanuel,
i am confused about how to determine the distance between ME orders. I noticed that you use 25 pips as distance of ME positions when trading AUDUSD 4H swing, it is just 1/4 of DAY ADR(100). so you use 0.25ADR when trading 4H swing and 0.5ADR for DAY trading, am i right? when you switch 4H swing to DAY position trade will you also change to 0.5ADR OF 100-days?

best regards!
kevin
  • #69,417
  • Jun 7, 2016 5:37pm Jun 7, 2016 5:37pm
Quoting BridgeWater
{quote} Hi Emm, Today i saw TMS Monitor on EURNZD Heiken Ashi MN=Red, W1=Red, D1=Green, H4=Red After im reattach TmsMonitor-v1.1, Heiken Ashi D1 turn Red Im sorry, it alittle bug? Regards,

Hi,

I have not seen it happen before. But very likely has to do with chart refreshing when new ticks arrive. Can be 'buggy' in the code.
I have two charts side-by-side with the EA running. One to show the D1 and the other I switch between H4 and H1.
Put the EA on GBPJPY pair in the background and turn off the price.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #69,418
  • Jun 7, 2016 6:03pm Jun 7, 2016 6:03pm
Quoting kevinfeng
Hi Emmanuel, i am confused about how to determine the distance between ME orders. I noticed that you use 25 pips as distance of ME positions when trading AUDUSD 4H swing, it is just 1/4 of DAY ADR(100). so you use 0.25ADR when trading 4H swing and 0.5ADR for DAY trading, am i right? when you switch 4H swing to DAY position trade will you also change to 0.5ADR OF 100-days? best regards! kevin

Hi Kevin,

The number of ME trades for every position/basket is for the trader to decide. I am used to having maximum 5 trades per position/basket. My trade statistics shows that the average of number of ME trades is 3.5 ME trades per position/basket.

In the case of AU, the NFP candle is a strong move after the breakout of the range. In a strong trending move, the retracement is seldom more than 50%. To see a strong trend move we look shallow retracement, usually between 10 to 35% retracement is indication of a strong buying or selling sentiments.

The initial SL for AU setup was 240pips, and the ADR(100 days) is 93 pips. If we use 0.5ADR(100days) , how many ME trades will there be in a shallow retracement?
The objective is to build up to a full position using %risk. Hence when I use 0.2% per ME trade, my objective is to build up to one full risk position of 1%. But this is seldom possible because the average is 3.5. Your own statistics will teach you.

Its the same for 4H swing and D1 Position trading, look at the chart price action and make decision. The trade distance between ME trades is something you can vary between 0.1 to 1.0 ADR 100 days. There is different for reversal setups and continuation setups. You know what I mean.

regards,

Edit:
BTW, after yesterday strong move following RBA decision, it will most likely rest today.
But, look at NZD and CAD strength and listen to what going on in the UK commodity exchange.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #69,419
  • Jun 7, 2016 6:15pm Jun 7, 2016 6:15pm
XAUUSD Buy or Sell?

Have not posted on Gold for sometime, historical price swing levels are still the same for many months.
After Friday gold rush, it rested for 2 days. Now it is our decision - buy or sell?
Attached Image (click to enlarge)
Click to Enlarge Name: XAUUSD Buy or Sell.png Size: 46 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #69,420
  • Jun 7, 2016 6:39pm Jun 7, 2016 6:39pm
Hi Guys/Gals

I am new to trading I was wondering should I get a EA or subscribe to a signal service? any suggestions
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