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Lower risk, stress free TDI system

  • #3,101
  • Jun 16, 2016 1:30pm Jun 16, 2016 1:30pm
Quoting luvene
{quote}you're welcome buddy 😃
Here is a similar script, but this time it changes all timeframes at once. Nice.
http://www.luckscout.com/mt4-script-...s-all-at-once/
  • #3,102
  • Jun 16, 2016 1:47pm Jun 16, 2016 1:47pm
Quoting Pipb0y
{quote} You're checking these three TFS because you're long one higher and one lower since you're trading the H4? Are the H4 candle sizes what you base your stops from? You mentioned earlier that you use Sleep Tight differently for each pair. Are the differentiated stops just a fraction of the ADR for each pair, or what's left of the ADR at least?

If the trade has CHF I use a lower TP and Ptp than if I am trading Ausd. ie CHF i would use stop loss 20 Target profit 30 pips BE 15pips Partial close 15 pips 40%

AUS SL 30 Target profit 50pips BE 25 pips partial close 25 pips 40%.

Its not a hard and fast rule if I am overnight I just trade the 30 15pips combination.
  • #3,103
  • Jun 16, 2016 1:59pm Jun 16, 2016 1:59pm
Hello guys,
Im a complete newbie to forex, been looking into it(parttime) for a few months now, stumbled upon alot of crocks and scams (fortunately never paid them as I smelled them fast). This looks very promising, but as a newbie I fail to create a complete plan of trading. I'm kindly asking u guys, especially the leaders in this thread(subbed to all btw), would u kindly guide me to setup my mt4 demo acc? I would run it for 1 month to test it, as I am completely nonemotional about money I want to get into live trade asap.

I understand when to enter the trades (unfortunately I tried it 4 times and all 4 went downhill but I dont have any records of them to post here for analysis, will do in the future though).
1. Im GMT+2 timezone, london time starts at 8, so I should start at 10:00 am my timezone?(need confirmation on this one)
2. How long should I keep trades? Most of u guys trade on H1 chart, how long do you keep yours? (days or hours?)
3. Also is there anything missing in my chart setup?

4. Can anyone please guide me on a risk management if I have 2.000 euro to invest into a live acc? I still dont know how to quantify PIPS into value and I dont understand how the leverage affects me (other than 1:100 is for each euro i invest i'll use 100 from the broker)


You all guys rock! (I'll buy your e-book Mehdi when it's done)

Best regards,
dttsomh
Attached Image (click to enlarge)
Click to Enlarge Name: zd1.jpg Size: 170 KB
  • #3,104
  • Jun 16, 2016 2:11pm Jun 16, 2016 2:11pm
bob44, is it possible to place both buy/sell pending orders on the same pair at the same time with the EA?, or just enter separate orders, one buy and one sell?
  • #3,105
  • Jun 16, 2016 2:30pm Jun 16, 2016 2:30pm
Quoting dttsomh
Hello guys, Im a complete newbie to forex, been looking into it(parttime) for a few months now, stumbled upon alot of crocks and scams (fortunately never paid them as I smelled them fast)....I have 2.000 euro to invest into a live acc? I still dont know how to quantify PIPS into value and I dont understand how the leverage affects me (other than 1:100 is for each euro i invest i'll use 100 from the broker
Hi dttsomh,
Do not start trading with real money until you have a basic foundation, understanding of Forex and some time practicing on a demo account!!
The best place to start is at babypips.com
Good luck.
TS
  • #3,106
  • Jun 16, 2016 2:40pm Jun 16, 2016 2:40pm
Quoting sjps
{quote} Here is a similar script, but this time it changes all timeframes at once. Nice. http://www.luckscout.com/mt4-script-...s-all-at-once/
Fantastic, just what I was looking for.

Thanks sjps.

Moonie.
  • #3,107
  • Jun 16, 2016 2:41pm Jun 16, 2016 2:41pm
Quoting mary4x
bob44, is it possible to place both buy/sell pending orders on the same pair at the same time with the EA?, or just enter separate orders, one buy and one sell?
Enter one buy one sell .
just entered an order for when the asian markets open
Attached Image (click to enlarge)
Click to Enlarge Name: sell 22.JPG Size: 260 KB


Note I do not put in a TP or SL on the trade on the chart only on the EA. The entry is based on the SAR value in this case the 1 H time frame as on the GGtrendbar in the left hand corner the SARs position will change to sell once the price has gone below the SARs.
Attached Image (click to enlarge)
Click to Enlarge Name: asian 2.JPG Size: 84 KB


Now I go through all the other charts looking for the crieria . then just sit back , some trade go the wrong way and dont open I just delete them if they go too far.
  • #3,108
  • Jun 16, 2016 2:57pm Jun 16, 2016 2:57pm
Quoting TibetSun
{quote} Hi dttsomh, Do not start trading with real money until you have a basic foundation, understanding of Forex and some time practicing on a demo account!! The best place to start is at babypips.com Good luck. TS
Hi TibetSun,
Thanks for guiding me. Ive spent few months (1-2h a day) on babypips, completed the school, but some information bored me so maybe thats the reason I still need to clarify some concepts. I practiced the "amazing crossover system" on the babypips forums from forexphantom and it was decently good, then it stopped working... (2 months on a demo acc) and after some more months of more research and trying stupid systems I ended up here.
Regards,
dttsomh
  • #3,109
  • Jun 16, 2016 2:59pm Jun 16, 2016 2:59pm
Quoting fmaher
{quote} That's correct, according to the above setting, 240ema on H1 chart should be equal to 60ema on H4 chart but they are not, both representing 10ema on D1. That was my question. Confused...
hi,
You got the 4H wrong, it should be 40ema NOT 60ema
  • #3,110
  • Jun 16, 2016 3:00pm Jun 16, 2016 3:00pm
Thanks, bob.
  • #3,111
  • Jun 16, 2016 3:09pm Jun 16, 2016 3:09pm
Quoting dttsomh
{quote} Hi TibetSun, Thanks for guiding me. Ive spent few months (1-2h a day) on babypips, completed the school, but some information bored me so maybe thats the reason I still need to clarify some concepts. I practiced the "amazing crossover system" on the babypips forums from forexphantom and it was decently good, then it stopped working... (2 months on a demo acc) and after some more months of more research and trying stupid systems I ended up here. Regards, dttsomh
if you really want to trade live, just open cent account and deposit small money i.e $20 - (it will be $2000 cent on your account). And you can feel trade like $2000 ..,and if you loss, it's not cost you too much
only 100 pips / week
  • #3,112
  • Jun 16, 2016 3:12pm Jun 16, 2016 3:12pm
Quoting bob44
{quote} Enter one buy one sell . just entered an order for when the asian markets open {image} Note I do not put in a TP or SL on the trade on the chart only on the EA. The entry is based on the SAR value in this case the 1 H time frame as on the GGtrendbar in the left hand corner the SARs position will change to sell once the price has gone below the SARs.{image} Now I go through all the other charts looking for the crieria . then just sit back , some trade go the wrong way and dont open I just delete them if they go too far.
Hi bob44
ATR distance DN and ATR distance up means what? Please I want to learn it. Thanks
  • #3,113
  • Jun 16, 2016 3:22pm Jun 16, 2016 3:22pm
Quoting nefilim
{quote} if you really want to trade live, just open cent account and deposit small money i.e $20 - (it will be $2000 cent on your account). And you can feel trade like $2000 ..,and if you loss, it's not cost you too much
Hi and thanks for your suggestion, it sounds interesting and I will probably try that, but all I want is to learn this system that mehdi shared with us, and I would be really glad if you could answer my other three questions instead, as the intro part I feel is not so important.
Regards
dttsomh
  • #3,114
  • Jun 16, 2016 3:27pm Jun 16, 2016 3:27pm
Quoting bob44
{quote} I go through all my charts and if the criteria is near enough on 3 time frames 1D 4H 1 H I put in a pending order then when my price is reached my EA Sleap tight comes into play. Some times I am enter ing the buy or sell trade one that I place earlier comes into play. I do nothing the EA does it all. so I can have 4 or 5 trades on the go all on auto.
Bob,

Does sleep tight EA place a hard SL and TP with the broker or is it just a hidden one on your terminal?

Have you tried THV Cavemanager? Just wondering how they compared.
  • #3,115
  • Jun 16, 2016 3:32pm Jun 16, 2016 3:32pm
Quoting mary4x
Thanks, bob.
Tonight pending
Attached Image (click to enlarge)
Click to Enlarge Name: tommorrow.JPG Size: 50 KB
trades see what happens in the morning
  • #3,116
  • Jun 16, 2016 3:42pm Jun 16, 2016 3:42pm
Quoting dttsomh
{quote} Hi TibetSun, Thanks for guiding me. Ive spent few months (1-2h a day) on babypips, completed the school, but some information bored me so maybe thats the reason I still need to clarify some concepts. I practiced the "amazing crossover system" on the babypips forums from forexphantom and it was decently good, then it stopped working... (2 months on a demo acc) and after some more months of more research and trying stupid systems I ended up here. Regards, dttsomh
Hi dttsomh,
Unfortunately there are no shortcuts in Forex.
My other advice to you would be to stay and learn from just a few pairs, so you don't get overwhelmed.
My advice for a beginner: AU, EU, GU, UJ and EJ
Also choose 1 time frame that fits your lifestyle, and stay with it.
-TS
  • #3,117
  • Jun 16, 2016 3:44pm Jun 16, 2016 3:44pm
Quoting bob44
{quote} Tonight pending {image}trades see what happens in the morning
Based on wich TFrame you have made these decisions>?
  • #3,118
  • Jun 16, 2016 3:51pm Jun 16, 2016 3:51pm
Quoting TibetSun
{quote} Hi dttsomh, Unfortunately there are no shortcuts in Forex. My other advice to you would be to stay and learn from just a few pairs, so you don't get overwhelmed. My advice for a beginner: AU, EU, GU, UJ and EJ Also choose 1 time frame that fits your lifestyle, and stay with it. -TS
Thanks alot for taking your time to answer,
Will definitely keep in mind those currencies
  • #3,119
  • Jun 16, 2016 3:53pm Jun 16, 2016 3:53pm
Quoting dttsomh
Hello guys, Im a complete newbie to forex, been looking into it(parttime) for a few months now, stumbled upon alot of crocks and scams (fortunately never paid them as I smelled them fast). This looks very promising, but as a newbie I fail to create a complete plan of trading. I'm kindly asking u guys, especially the leaders in this thread(subbed to all btw), would u kindly guide me to setup my mt4 demo acc? I would run it for 1 month to test it, as I am completely nonemotional about money I want to get into live trade asap. I understand when to...
You can go to any broker you want, and choose a demo account, when you choose the demo deposit, choose a amount you would like to deposit when you are ready, thats make it more realistic. 1month is not much, take your time and enjoy the learning curve, it takes time, but if you really feel for trading i would be worth the time. I trade in the same timezone as you, and that means london open at 09:00 local time.
Its impossible to tell you how long to babysit a trade, some try to take it to the end, and some have a fixed tp. Personal i prefer dont to have trade open when i sleep, and when i cant babysit them. There is nothing missing on your chart, you could add some ma for you so you easy spot sr levels. I would not recommend you to go live when you dont got more knowhow of how the market works, the market would eat your deposit really really quick. But it you want to go live, only trade 0.01lot & make a micro account..

To calculate pip price you can use this
http://www.earnforex.com/pip-value-calculator/
Its very simple, but this gives i good guidence until the math is stuck to your head

Leverage is used to trade bigger orders than you got money on the account. With a 1:100 you could trade 200000 base currency, not that i would recommend that
MY SITTING, NEVER MY THINKING!
  • #3,120
  • Jun 16, 2016 3:55pm Jun 16, 2016 3:55pm
Quoting dttsomh
Hello guys, Im a complete newbie to forex, been looking into it(parttime) for a few months now, stumbled upon alot of crocks and scams (fortunately never paid them as I smelled them fast). This looks very promising, but as a newbie I fail to create a complete plan of trading. I'm kindly asking u guys, especially the leaders in this thread(subbed to all btw), would u kindly guide me to setup my mt4 demo acc? I would run it for 1 month to test it, as I am completely nonemotional about money I want to get into live trade asap. I understand when to...
....And to start with, only look for slow major pairs. Dont go for the wild girls, so no exotic
MY SITTING, NEVER MY THINKING!
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