Trading Made Simple

I am here just want to say "Thank you, emmanuel7788".
Your dedication and commitment to this thread means a lot to TMS followers.
Big E's physical body is not here, but I can see his spirit on you.

Hi,

You are welcome.
I am here to help anyone who needs help to get started and learn to trade and trade with TMS 5-Method. Everyone need to clock that 6,000 trading hours like Big E did.

Trading this spot forex market is not an easy business. We all need to hours of practice and to gain experience, not simply any sort of experience but the right experience which will help you find your winning edge. Often we hear members here telling us we need to gain experience in order to build confidence. But we need to learn from the type of experience which will help us gain confidence.

Trading Demo account is not the same as trading Live account. Many traders do well when trading Demo but fail when they turn to Live account trading. The psychology behind Demo account trading is very different from Live account trading. Also trading a $500 account and trading a $50,000 account is also very different.
Therefore you need to know what sort of trading experience you need to go through and what you will learn for that trading experience.
You need to know the ups and downs of Demo account trading. When you Demo trade, you first must know what you objectives are and how your demo trading will help you learn and achieve your objectives. Most trader demo trade to learn the trade setups, the entry and exit rules, etc. They do not demo trade to test their Money management strategy, such as the use of the % risk model and do position sizing, the R-Multiple trade management for exit strategy.

How does demo trading help you develop the mental fitness to trade in live market with your hard-earned money?
My suggestion is to demo trade with the trading capital which you plan to trade live as a business.
Start with one year of your annual salary as your base capital. If you live in the US, the median annual income is about $55k. Use that $55K as your base capital.
Demo trade and see if you can achieve your financial goal which you have set for yourself when you want to trade this spot forex market.

Set SMART objectives and goals for your trading business. Ask yourself, do you want to supplement 20% to you annual income by trading this spot forex market? Is 20% per annum realistic and achievable?

Forget about thinking of doubling your base capital in one year for the start. You first must learn to trade and achieve consistent results. You read some traders double and triple their trading account, did they show you what their trading account size other than just the equity curve chart? For all you know, that trading account is only $5K, and losing $5k to margin call is no big deal because they can top up another $5k and start all over again. As long as they top up their trading account, they do not have the winning edge. Trading becomes a game not a business to make money.

Do not believe in compounding that it will work for you when you trade this spot forex market. In theory it does work, but when you are the trader it will not likely to work out over a long period of time. Do Not have that newbie dream of how t turn $5k into $1 million in 4 years of trading. Compounding theory work best in banking, which is almost risk free. Put your money in a bank and see how your interest gain will add up to your principal when compounding over many years.

Be realistic, make some sacrifices and be prepared to do the hard work spending 3 to 5 hours every day for the next 2 to 3 years.

regards,

you will find the links in this post:

post#70,672
http://www.forexfactory.com/showthre...98#post9081798

make sure you read the pdf which explains the pipware minicharts setup.

audjpy
what's think gayz

is this is a valid entry or should we wait for the candle close?

EURUSD - looking at the strength of today's bullish move, it should make a new high for this month above 1.1233

so we must now keep close eye on this pair when London open in about one hour.

when I see a Day Inside Bar breakout potential, it is always good to trade.

breaking the low of the previous week low is good sign of bearish continuation trading especially after a narrow range week which is also a W1 Inside Bar.
keep any eye on the last 2 weeks low i.e. the low of the W1 Mother Bar.
if this works out, then the target is 60% of the 52-weeks Average Traded Range which is 305pips.

AUDUSD going strong, do you see any sign of weakness?

where is your target?

between May MN High and April MN high is the BRN 0.7800

can AU reach this BRN? check its 52 weeks average traded range ~ 200pips,

NZDJPY Aug 16 H1 pre-LO:

We have about 7 mins to LO, do you want to take this H1 setup?

Hi Emmanuel7788,

Thanks for your guidance and help. After reading the instructions, I managed to successfully get the desired TDI on the multi charts.. pipware charts.

Thanks for the help rendered to new traders like me.

closed the trade with 50.6 pips. trailing stop hit
GBPUSD

Unfortunately i wasn't near PC at time of execution. In hindsight i would have entered off H1 candle as TDI & Stoch in sync. TP1 at today's open & BRN then i would trail by candle close as Daily & Weekly currently sideways PA (support ~72.2).

Enjoy the session.

now we have a H4 setup, but risky as we see previous support now become resistance and BRN 73.00 above.

take some risk with strong Kiwi?

took a short trade on usdjpy. yen appears to be strong. my next support area is around 99.75. targeting 50 pips only.

Gcad counter about 40 green
Im using the volatility bands ( touch )as a confirmation for a " Ping Pong "

TP was aound the 50 Ema .

Stay green
Guido

I second that man. Looks like USDJPY is gonna tank!

anyone know why JPY is to strong beat US dollar?

TP of 50.9 pips hit on AU

well if the trade goes against me i will hedge it.