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

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Trading Made Simple

  • #70,201
  • Jul 18, 2016 1:47am Jul 18, 2016 1:47am
EURUSD Week 29 July 18 - H1

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD Week 29 Jul 18 H1 setup example.png Size: 27 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #70,202
  • Jul 18, 2016 2:40am Jul 18, 2016 2:40am
Quoting emmanuel7788
EURUSD Week 29 July 18 - H1 {image}
Based only on the limited information that you supplied, no. Show me more of the left side of the chart plus the daily chart, and then I can make an informed decision.
To free Gazans of Hamas, use whatever it takes.
  • #70,203
  • Jul 18, 2016 3:17am Jul 18, 2016 3:17am
Quoting emmanuel7788
EURUSD Week 29 July 18 - H1 {image}
No more info needed. Yes. I'd like to see it close just a little lower on the bar, but yes. We are inside a wide range bar inside a downward trend, have experienced a double top, and an engulfing bar with obvious momentum. TDI will show a cross and a bounce off the market base line. My stop would be above engulfing bar by a few pips and target close of wide range bar or bottom of it depending on how candles were closing during the deal. That being said, I don't trade the 1hr and I could expect a possible triple top.
"IN CASH WE TRUST"
  • #70,204
  • Jul 18, 2016 3:30am Jul 18, 2016 3:30am
Quoting emmanuel7788
EURUSD Week 29 July 18 - H1 {image}
yes i would sell it cause the daily trend is going down so even though the h1 is not going down in another hour the price will go down with other h1 signals
  • #70,205
  • Jul 18, 2016 4:08am Jul 18, 2016 4:08am
Quoting emmanuel7788
EURUSD Week 29 July 18 - H1 {image}
I will sell and take profit at the low of that big candle which acted as a resistance.
  • #70,206
  • Jul 18, 2016 4:56am Jul 18, 2016 4:56am
Quoting emmanuel7788
{quote} 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. {image}
Dear Emm,

This is impressive, with a $500 initial capital, you have already gained net profit of $89, which is about 18% and not even 20days. Is it possible to show us a chart? I am just curios how to put the SL with a small account. I am trading with a £500 account but to follow the risk of 2% with .01 lot won't give me a spread of 5 entries using our .5*ADR(100) entry spacing. Maybe by looking at your chart how to set SL, plus your entries will give me more idea how i should manage my trades. I learn faster with visuals, so I hope you can help. I still trade SE/SE while growing my small account and increasing proficiency. Thank you again..
  • #70,207
  • Edited 6:09am Jul 18, 2016 5:55am | Edited 6:09am
Quoting LazyLobster
{quote} 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...
Thanks. The trades am on testing the exit methods of Big E.
Exits...
[COLOR=rgb(0.000000%, 0.000000%, 100.000000%)]Looking at your TDI... if you see: 1. TDI go flat[/color]
[COLOR=rgb(0.000000%, 0.000000%, 100.000000%)]2. TDI start to hook over[/color]
[COLOR=rgb(0.000000%, 0.000000%, 100.000000%)]3. TDI do a check mark reversal [/color]
So there is no TP/SL. I really get confused with the Exit methods. Maybe I will test with the low of the previous candle.
Btw, should I go short for EURCHF? There is a previous Wide Range Bar. So TP/SL can be the high and Low of the WRB, am I right?
Attached Image (click to enlarge)
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  • #70,208
  • Jul 18, 2016 6:17am Jul 18, 2016 6:17am
Quoting cmhoahongxan
{quote} Thanks. The trades am on testing the exit methods of Big E. Exits... Looking at your TDI... if you see: 1. TDI go flat 2. TDI start to hook over 3. TDI do a check mark reversal So there is no TP/SL. I really get confused with the Exit methods. Maybe I will test with the low of the previous candle. Btw, should I go short for EURCHF? There is a previous Wide Range Bar. So TP/SL can be the high and Low of the WRB, am I right? {image}
You cannot use the same exit strategy as eelfranz if you use the realtime tdi because that goes up and down with the candle. You need to use a tdi that only updates at the start of a new candle. He did also have an emergency stop loss which was set at the high or low of the swing.
Success means going from failure to failure without loss of enthusiasm
  • #70,209
  • Edited 7:29am Jul 18, 2016 7:18am | Edited 7:29am
Quoting cmhoahongxan
{quote} Thanks. The trades am on testing the exit methods of Big E. Exits... Looking at your TDI... if you see: 1. TDI go flat 2. TDI start to hook over 3. TDI do a check mark reversal So there is no TP/SL. I really get confused with the Exit methods. Maybe I will test with the low of the previous candle. Btw, should I go short for EURCHF? There is a previous Wide Range Bar. So TP/SL can be the high and Low of the WRB, am I right? {image}
wouldnt go short as long as the price is above 50% of the monthly range!!!
(.)(.) think first ...
  • #70,210
  • Jul 18, 2016 7:19am Jul 18, 2016 7:19am
Quoting BurnhamPark
{quote} Dear Emm, This is impressive, with a $500 initial capital, you have already gained net profit of $89, which is about 18% and not even 20days. Is it possible to show us a chart? I am just curios how to put the SL with a small account. I am trading with a 500 account but to follow the risk of 2% with .01 lot won't give me a spread of 5 entries using our .5*ADR(100) entry spacing. Maybe by looking at your chart how to set SL, plus your entries will give me more idea how i should manage my trades. I learn faster with visuals, so I hope you can...

Hi,

Here is my charts showing where the trades were taken.

Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD MEME trades.png Size: 152 KB


regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #70,211
  • Jul 18, 2016 9:28am Jul 18, 2016 9:28am
Quoting emmanuel7788
{quote} Hi, Here is my charts showing where the trades were taken. {image} regards,
Hi, Emm!

I have been doing well with SE/SE, as usual, but with ME/ME I still have ups and downs. What I want to ask you is why you weren't taken out on the candle in the pic. If you tell me you were using a technical SL, that would make sense. But with 2 days lookback, you should have been stopped out. If that is the case, then how do you decide when to use a technical SL and when to use the 2 days lookback SL?
Attached Image
  • #70,212
  • Jul 18, 2016 10:41am Jul 18, 2016 10:41am
Waste Of time...
  • #70,213
  • Jul 18, 2016 1:58pm Jul 18, 2016 1:58pm
people PM to publish my trades again.
here are my trades of today (only 1 hour traded as had a busy day) and last Friday (traded for some hours)

starting to understand the system. The main thing is to be able to filter choppy market. Thats when the system fails.
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Click to Enlarge Name: Screenshot3.png Size: 106 KB
  • #70,214
  • Jul 18, 2016 2:24pm Jul 18, 2016 2:24pm
Quoting Rims
people PM to publish my trades again. here are my trades of today (only 1 hour traded as had a busy day) and last Friday (traded for some hours) starting to understand the system. The main thing is to be able to filter choppy market. Thats when the system fails. {image} {image}
Great trading, man! I am waiting for you for sharing your experiences with the TMS Method How do you set your TP? Using 0.5ADR?
  • #70,215
  • Jul 18, 2016 2:34pm Jul 18, 2016 2:34pm
Quoting Rims
people PM to publish my trades again. here are my trades of today (only 1 hour traded as had a busy day) and last Friday (traded for some hours) starting to understand the system. The main thing is to be able to filter choppy market. Thats when the system fails. {image} {image}
Could you show us a one of your trade on chart please? Thx
  • #70,216
  • Jul 18, 2016 2:39pm Jul 18, 2016 2:39pm
Quoting cmhoahongxan
{quote} Great trading, man! I am waiting for you for sharing your experiences with the TMS Method How do you set your TP? Using 0.5ADR?
everything is shared here. as said just avoid choppy market and get in when price has chosen its direction. than you only need to follow TMS.
for TP i do different things. Sometimes i use Fibo, sometimes S/R. but not too big TP's. Rather 4 small wins than 1 big loss
i also take only 1 single trade per pair. most of the time trading on M15 and getting confirmation on H1 or starting at H1 and chose momentum on M15.
But trend confirmation is the key. in choppy market it just wont work (in my experience).
  • #70,217
  • Jul 18, 2016 3:15pm Jul 18, 2016 3:15pm
Quoting catalin_eros
{quote} Hi, Emm! I have been doing well with SE/SE, as usual, but with ME/ME I still have ups and downs. What I want to ask you is why you weren't taken out on the candle in the pic. If you tell me you were using a technical SL, that would make sense. But with 2 days lookback, you should have been stopped out. If that is the case, then how do you decide when to use a technical SL and when to use the 2 days lookback SL? {image}
I am guessing and not answering on behalf on Emmanuel, but the two day look-back on aususd is too close to be considered as a SL for day trading.
It's in fear when people show what they truly value.
  • #70,218
  • Jul 18, 2016 4:32pm Jul 18, 2016 4:32pm
Quoting ensale
{quote} I am guessing and not answering on behalf on Emmanuel, but the two day look-back on aususd is too close to be considered as a SL for day trading.
But the second and third basket were started on the 1st of July. And after that, the SL should have been trailed using the 2 days lookback, according to the ME/ME rules of Emm. So on the 6th of July, the SL would have been where I put it on the image. Thus, the SL should have been hit.

Let's wait for Emm to answer and enlighten us both.
  • #70,219
  • Jul 18, 2016 7:22pm Jul 18, 2016 7:22pm
Quoting catalin_eros
{quote} Hi, Emm! I have been doing well with SE/SE, as usual, but with ME/ME I still have ups and downs. What I want to ask you is why you weren't taken out on the candle in the pic. If you tell me you were using a technical SL, that would make sense. But with 2 days lookback, you should have been stopped out. If that is the case, then how do you decide when to use a technical SL and when to use the 2 days lookback SL? {image}
Hi,

when you are doing well trading with single entry / single exit SE/SE, you should continue with it.

I did not do well with single entry therefore I use position building to get an overall average entry price with several multiple entries. Some people see this as averaging down which is not recommended and they look like adding to losing trades.

Every trade basket/position must have its technical SL ( hard stop loss send to the broker) to protect the account from unforeseen events like Black Monday 2015, etc.

Look at AUDUSD Day chart,

was the market trending or sideways wide range or sideways narrow range?

how do you read that Day close July 5 candle?

what was the 52-weeks average trading range?

when you trade SE/SE, do you manage your exit using Trail_By_Previous Candle High-Low? What market condition will this work effectively and maximise profit run ? when will this not work well?

Hope this explains.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #70,220
  • Jul 18, 2016 7:55pm Jul 18, 2016 7:55pm
Quoting emmanuel7788
{quote} Hi, when you are doing well trading with single entry / single exit SE/SE, you should continue with it. I did not do well with single entry therefore I use position building to get an overall average entry price with several multiple entries. Some people see this as averaging down which is not recommended and they look like adding to losing trades. Every trade basket/position must have its technical SL ( hard stop loss send to the broker) to protect the account from unforeseen events like Black Monday 2015, etc. Look at AUDUSD Day chart,...

Hi Emma...

This is just for thanking nothing else.....

You have crazy knowledge, thinking, experiences and helping mind to many newbies and all....
Thank for your time and dedication and I know you are having great fun and satisfaction by doing all this..
Wish you happy and healthy life to you and all your loving people...
rgds
imdi
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