Trading Made Simple | Page 3510 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Monitor for 'Trading Made Simple' system 565 replies

Trading Made Simple the right way, and other trading lessons 334 replies

Indicators for the 'Trading Made Simple' system 343 replies

MTF Indicators for the 'Trading Made Simple' system 241 replies

Trading Made Simple system follower - Thanks to eelfranz 9 replies

Attachments: Trading Made Simple
Exit Attachments

Trading Made Simple

  • #70,181
  • Jul 15, 2016 12:57pm Jul 15, 2016 12:57pm
Quoting emmanuel7788
{quote}
What is most important is how we interpret Big E's posts - Post#261 and Post#647 and with consistency.

Hi Emmanuel,
Thanks for the reply, indeed you should post this link in your signature!!
http://www.forexfactory.com/showthre...58#post8962658

By the way.. Rip Big E... condolences to his people and friends..

I will continue my reading of his posts thoroughly.

I found a 113 pages pdf containing all the ones from this thread:

Attached File(s)
File Type: pdf BigE full.pdf   3.4 MB | 1,031 downloads


So... I guess maybe I do lack some forex basics making it hard for me to interpret correctly, even if I'd read the whole babypips, I'm not sure I'd know exactly what he meant by the followings. If you don't mind, would you please correct my interpretations / share with us your interpretation of these?

How close am I to the previous high or lo
This one I really don't get.. What to look for and when?

If there was a long down trend and then now a reversal is happening, a TDI cross (up) occurs.
Should I care about previous Lo / Hi in a way of targeting: SL=lo and TP=hi?

Or did he just meant
If in uptrend look for previous high as next support
if in downtrend look for previous low as next resistance?

Am I in an uptrend or downtrend.. short & long term...
Must both short and long term go in the same direction for me to take the trade?
Skip the trade if short term trend is opposite long term trend because that means I'm entering on a retracement of the longer term trend.

Am I in or close to a consolidation area
Being in a consolidation is obvious.
If I'm in a consolidation avoid trading.

Being close to one I'm not sure why would I care?
If I'm close to it means I'm not in it anymore (there was a breakout) which mean I'm in a new starting trend..
Should I avoid that new starting trend and wait for a reversal?

Are the previous candles small...
How many pips is a small candle in H4?
How many pips is a small candle in H1?

If I look at GBPUSD H4 full screen, MT4 resizes to fit everything in the window, making most candles after Brexit look very small!
What I mean is, this can be subjective to view configuration.

Look at the candles on the last reversal... big, little, what
If they were little ones = last reversal not trustable = so then the one I'm trying to enter is not trustable either?

How does the momentum look right now (12-2, 4-6)
This to me is very hard and subjective too.
Many times a 1 or a 5 results in false signal.

So I guess this point is just avoid the flat 3 o'clock ones?

Does Stoch's confirm the TDI signal
If green TDI points in opposite direction of white Stoch, avoid trade.

If Stoch over 80 avoid long
If Stoch over 80 then turned downwards and crossed 80 go short

If Stoch below 20 avoid short
If Stoch below 20 then turned upwards and crossed 20 go long

If Stoch is in the middle going up from near 20 go long
If Stoch is in the middle going down from 80 go short


Thanks so much again for your help!!
  • #70,182
  • Jul 15, 2016 10:16pm Jul 15, 2016 10:16pm
Quoting emmanuel7788
Trade Example using the TDI setting with Synergy TDI pro settings: Chart pattern - Triple Tops Reversal pattern Price Action BEEB setup with TDI Green bounce off Red. How to manage trade using Trail by Previous Candle High-Low for maximum profit. {image}
very nice trading example emmanuel...how much pips did you get by the way?
i am also trying to immitate your ME ME strategy but with max 2 pair GU and EU only and 5 open trader per pair....
hope can becoming a PRO trader like you thank you so much for always giving example on how to pick and not to pick trades
  • #70,184
  • Jul 16, 2016 10:07pm Jul 16, 2016 10:07pm
Hi TMS folks,

Do your Big Picture Planning and trade plan for next Week 29, July 18 to 22 trading.

Try these pairs - AUDUSD, AUDJPY and USDJPY. Target 10% profit with money management.

Have a good weekend.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #70,185
  • Jul 17, 2016 4:28am Jul 17, 2016 4:28am
Quoting warsito123
{quote} very nice trading example emmanuel...how much pips did you get by the way? i am also trying to immitate your ME ME strategy but with max 2 pair GU and EU only and 5 open trader per pair.... hope can becoming a PRO trader like you thank you so much for always giving example on how to pick and not to pick trades

Hi,

I am not a "PRO trader' so better not try imitate me. I have my good weeks and bad weeks like most full time traders. I learn to take losses and move on.
This week, I took one bad basket and a few cut small losses, suffered a DD 7.59% overall in one account.

Attached Image (click to enlarge)
Click to Enlarge Name: TMS MEME Jul 11 to 15.png Size: 61 KB



GBPUSD loss on a bad basket after US data on Friday.
Next week I need to work hard to recover the loss.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD Week 28 MEME loss basket.png Size: 65 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #70,186
  • Jul 17, 2016 4:50am Jul 17, 2016 4:50am
Quoting emmanuel7788
{quote} Hi, I am not a "PRO trader' so better not try imitate me. I have my good weeks and bad weeks like most full time traders. I learn to take losses and move on. This week, I took one bad basket and a few cut small losses, suffered a DD 7.59% overall in one account. {image} GBPUSD loss on a bad basket after US data on Friday. Next week I need to work hard to recover the loss. {image}
Why would you need to recover your loss when you actually made a profit on the account of $1005.58?
Success means going from failure to failure without loss of enthusiasm
  • #70,187
  • Jul 17, 2016 4:56am Jul 17, 2016 4:56am
Quoting lisat
{quote}Why would you need to recover your loss when you actually made a profit on the account of $1005.58?

Its because my target is to achieve 10% profit for every 20-days trading cycle.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #70,188
  • Jul 17, 2016 5:00am Jul 17, 2016 5:00am
Quoting emmanuel7788
{quote} Its because my target is to achieve 10% profit for every 20-days trading cycle.
Aah thank you now I understand.
Success means going from failure to failure without loss of enthusiasm
  • #70,189
  • Jul 17, 2016 5:05am Jul 17, 2016 5:05am
Quoting emmanuel7788
{quote} Next week I need to work hard to recover the loss.
I am about the furthest thing from a good trader you will find, but one thing I know effects me greatly: If i look at the next week thinking i need to make up the loss of the last week. I find it effects my decision making subconsciously. I try to treat each trade completely separate from whatever has happened previously (both winning and losing). If my strategy is profitable, I will recover losses in time regardless of if it is in the next week or the next month. The worst thing for me is to try and force it...
  • #70,190
  • Jul 17, 2016 5:32am Jul 17, 2016 5:32am
Quoting emmanuel7788
{quote} Hi Davson, Here is my back-test results for UJ using data from Jan to Jun 2016 run using my TMS MEME trade manager. Trades are done manually on D1 chart time frame and managed by the trade manager EA. I did some modifications for a very good friend living in South America so that he can trade with a small account of $500 and with the smallest lot size 0.01 per ME trade. The test results look quite good for a 6 months period. I should be able to run forward testing with a live account next week once I finished clean up some coding. {image}...

Hi Folks,

I promised my good friend that I will trade a $500 account with smallest 0.01 lot offered by my broker, leverage 1:50.
here is the results closing my trades on Jul 15.

Next week will be my challenge as usual to grow this account.

Trade Well.

Attached Image (click to enlarge)
Click to Enlarge Name: TMS MEME acct 500dlrs Jul 4 to 15.png Size: 57 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #70,191
  • Jul 17, 2016 6:45am Jul 17, 2016 6:45am
Quoting emmanuel7788
{quote} Hi, I am not a "PRO trader' so better not try imitate me. I have my good weeks and bad weeks like most full time traders. I learn to take losses and move on. This week, I took one bad basket and a few cut small losses, suffered a DD 7.59% overall in one account. {image} GBPUSD loss on a bad basket after US data on Friday. Next week I need to work hard to recover the loss. {image}
actually im still opening 1 GU here is the screen shot
i still open this GU cause i sense the TDI is still in the buy but i will see in the next 2-3 more days
do you mind to share me the opinion on why you closed the buy on GU?
thank you so much emmanuel hope next week is better for all of us
Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 178 KB
  • #70,192
  • Jul 17, 2016 1:04pm Jul 17, 2016 1:04pm
Could anyone help me out why my trades got lost ? As the figure, I tried to place orders when TDI bounce off or Cross after price break S/R levels , but seems hardly to get profit . By now, I am on short position for GBPAUD and GBPUSD.
Attached Image (click to enlarge)
Click to Enlarge Name: Screen Shot 2016-07-18 at 2.59.53 AM.png Size: 58 KB
  • #70,193
  • Jul 17, 2016 1:14pm Jul 17, 2016 1:14pm
Quoting Jexodus
{quote} I am about the furthest thing from a good trader you will find, but one thing I know effects me greatly: If i look at the next week thinking i need to make up the loss of the last week. I find it effects my decision making subconsciously. I try to treat each trade completely separate from whatever has happened previously (both winning and losing). If my strategy is profitable, I will recover losses in time regardless of if it is in the next week or the next month. The worst thing for me is to try and force it...
I think the difference is Emmanuel did not have an overall loss he had a small profit but not as large as his target is.
Success means going from failure to failure without loss of enthusiasm
  • #70,194
  • Jul 17, 2016 1:18pm Jul 17, 2016 1:18pm
Quoting cmhoahongxan
Could anyone help me out why my trades got lost ? As the figure, I tried to place orders when TDI bounce off or Cross after price break S/R levels , but seems hardly to get profit . By now, I am on short position for GBPAUD and GBPUSD. {image}


Hey man, can I ask you what is the simulator you are using and if you'd be so kind to share info about it or upload it here?

I appreciate it!
  • #70,195
  • Edited 1:46pm Jul 17, 2016 1:31pm | Edited 1:46pm
Quoting cmhoahongxan
Could anyone help me out why my trades got lost ? As the figure, I tried to place orders when TDI bounce off or Cross after price break S/R levels , but seems hardly to get profit . By now, I am on short position for GBPAUD and GBPUSD. {image}
LOL CM. That chart you attached is H4 EURUSD, not GBPAUD or GBPUSD.

In any case, please include the time line on the bottom of your chart in the screen captures; I don't find any price patterns in my EURUSD H4 that look anything at al like you show, so it is a problem to help you.

On GBPUSD, you should be making some money on your short. I highly recommend that if you are going to use the H4 for your entry, then open the H1 to look for the exit. Likewise, if you enter using H1, open m15 to look for an exit. If I had sold GBPUSD, I would have at least taken off part of my position after 6 or 7 down bars on the H1, becasue I see there are small inside bars and even up bars after that.
To free Gazans of Hamas, use whatever it takes.
  • #70,196
  • Jul 17, 2016 1:38pm Jul 17, 2016 1:38pm
Quoting DrDave
{quote} LOL CM. That chart you attached is H4 EURUSD, not GBPAUD or GBPUSD. In any case, please include the time line on the botom of your chart in the screen captures; I don't find any price patterns in my EURUSD H4 that look anything at al like you show, so it is a problem to help you.
The figure is simulated . I am testing on EU. But on my real account, I am in short in CADCHF and GU and GA. Should I need close position when the market starts

The simulator is free provided by FXBlue. if anyone need, just google it. http://www.fxblue.com/appstore/39/mt4-trading-simulator
  • #70,197
  • Jul 17, 2016 1:53pm Jul 17, 2016 1:53pm
Quoting cmhoahongxan
{quote} The figure is simulated . I am testing on EU. But on my real account, I am in short in CADCHF and GU and GA. Should I need close position when the market starts The simulator is free provided by FXBlue. if anyone need, just google it. http://www.fxblue.com/appstore/39/mt4-trading-simulator
On GBPUSD, this looks like the little up move was just a small rally and the down move will now continue. However, as I said before, I would take off part of my short position any way and have money in the bank. Can always add on more if there is good confirmation that there is indeed a continuation down.
To free Gazans of Hamas, use whatever it takes.
  • #70,198
  • Jul 17, 2016 2:09pm Jul 17, 2016 2:09pm
Quoting cmhoahongxan
{quote} The figure is simulated.
If you want to do some quality simulation and backtesting, why don't you use a much better package than Metrader? A package like NinjaTrader. I think all the indicators that we use in this system are available in Ninja Trader. . The simulator and backtester are also free.

Even if TDI is not available, you can create your own from overlaying these indicators:
- the Priceline, which is a SMA(2) of RSI(13)
- the Signalline, which is a SMA(7) of RSI (13)
- the Midband, which is a SMA(34) of RSI (13)
- BollingerBands around the SMA(34) using 1.62 StdDev
To free Gazans of Hamas, use whatever it takes.
  • #70,199
  • Jul 17, 2016 2:10pm Jul 17, 2016 2:10pm
Quoting DrDave
{quote} If you want to do some quality simulation and backtesting, why don't you use a much better package than Metrader? I think all the indicators that we use in this system are available in Ninja Trader. A package line NinjaTrader. The simulator and backtester are also free. Even if TDI is not available, you can create your own from overlaying these indicators: - the Priceline, which is a SMA(2) of RSI(13) - the Signalline, which is a SMA(7) of RSI (13) - the Midband, which is a SMA(34) of RSI (13) - BollingerBands around the SMA(34) using 1.62...
Thanks for your recommendation. I will try it.
  • #70,200
  • Jul 17, 2016 10:53pm Jul 17, 2016 10:53pm
Quoting cmhoahongxan
Could anyone help me out why my trades got lost ? As the figure, I tried to place orders when TDI bounce off or Cross after price break S/R levels , but seems hardly to get profit . By now, I am on short position for GBPAUD and GBPUSD. {image}



I will give a shot at analyzing your trades. Your first one has a couple issues. It looks like you might have been seeing a double bottom (price action) with a strong upward move (momentum). This would be a good thing with a TDI bounce entry. But heres a question.... What does the upper TF say before the trade? Were we in an uptrend? If the upper time frame agrees with your entry then bravo. If it doesnt well, maybe that would be a place to start looking next time. (since its on simulator, you might not have this option but in live trading MTF is the way to go) It would seem to me that your entry was also late. You should have been in the trade at the beginning of the bar. The fact that it closed with a long wick (rejection) should have clued you into the idea that some drawback was coming. Now lets say you saw the rejection and just figured that you assumed some drawback. Your stop loss is in the middle of the road and you got ran over. I have made this mistake many many times because I thought I could squeek by with a smaller stop. It only gets run over especially in the 4 hr. Dont shortchange your stops. Some good review that could help you in this area is support and resistance. What happened here is that price got above previous resistance and retreated back to that previous resistance and it is now support. This is very common. Your stop should have been placed below the previous low and your deal would have withstood the drawback. I dont see your targets on the chart, but that is another subject apart from your question. The second deal had a good impulse, but it didnt get past support. Also, how many red candles have we waited through till we got to that strong move? Eight? Thats a bit long and far for me (even on the 4hr) and gives you the first clue that we might be in consolidation along with the fact that the volbands have been getting closer together for some time. All warning signs. If you were wanting a short there, you should have waited for the beginning of the second wave. We can see it on your chart but it doesnt look good because it has no momentum. At that point you should look for another chart to to trade. Wait for quality setups. That last sentence is really important. Research Emmanuels posts and youll find many of them. On another note... If you decide to backtest using ninjatrader, you can see the higher time frame along with your trading time frame. This could help you practice Multi Time Frame analysis.I hope this helps. Good Luck.

Regards

LL
"IN CASH WE TRUST"
35 traders viewing now