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Trading Made Simple

  • #70,921
  • Aug 25, 2016 7:02am Aug 25, 2016 7:02am
Quoting bluemosaic
{quote} Great info - thanks Some days I just get the feeling I will never get the hang of this :-|
One day you will have enough experience and know enough about trading the markets and you will find your own way and reach peak performance as a trader. It wont come easy, Big E had 6,000 hours u to the time he share this 5-Method.
It is not the easiest business out there but there is money to be made when you know enough. I have been trading the stock market since 1908s and paid a lot of tuition money to learn to trade. Trading this spot forex market is no different and is a lot more brutal because it is 24-hours trading which tempts more people thinking it is easy money. Being a 24-hour market also means there are periods where the market liquidity is lower than most part of the day. We need to know when to trade and when not to trade. Different currency pairs are different, some pairs move during the Asian session , while other pairs move more during the European/London sessions. Most often after London closed, the market is very low volume due to lower liquidity.

Be patient, learn everyday until you reach 10,000 hours.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #70,922
  • Aug 25, 2016 7:11am Aug 25, 2016 7:11am
Quoting emmanuel7788
{quote} One day you will have enough experience and know enough about trading the markets and you will find your own way and reach peak performance as a trader. It wont come easy, Big E had 6,000 hours u to the time he share this 5-Method. It is not the easiest business out there but there is money to be made when you know enough. I have been trading the stock market since 1908s and paid a lot of tuition money to learn to trade. Trading this spot forex market is no different and is a lot more brutal because it is 24-hours trading which tempts more...
Thanks for your very positive message and great posts in this thread. I know it has been said before by many but also for me it is hugely appreciated.
I have been trading for past 6 years - although very much on/off due to work commitments.
I have made some, lost some, made some.. etc.. just ticking over around the same amount. So guess I am lucky compared ot some in that respect.
I fully understand money management side of things - my biggest issue, like many, is the constant changing of systems, timescales and markets etc.. - forex, stocks, commodities. I have realised this and need to now stock with one market (Forex), one method (TMS-5) and timescales of 1h and 4h (more likely latter).

I continue to learn from you and others on here.
thank you
  • #70,923
  • Aug 25, 2016 7:37am Aug 25, 2016 7:37am
Quoting bluemosaic
{quote} Thanks for your very positive message and great posts in this thread. I know it has been said before by many but also for me it is hugely appreciated. I have been trading for past 6 years - although very much on/off due to work commitments. I have made some, lost some, made some.. etc.. just ticking over around the same amount. So guess I am lucky compared ot some in that respect. I fully understand money management side of things - my biggest issue, like many, is the constant changing of systems, timescales and markets etc.. - forex, stocks,...

one more piece of advice, i.e.
to succeed in this business, there is a lot more you need to learn. you will not learn all you need in public forum like FF here.
most of the things I know I did not learn them in public forum. whatever you find here in FF is just a very small portion of what is required to make you into a successful trader.
I know a few TMS traders who have started here 5 years ago and they are doing well and making good money. They went on and build their own trading system but they all have one thing in common, i.e. they stick to the 5-Method as their core trading methodology. You will find many traders here jumping from 'system to system' in the last 4 to 5 years.
You need to have a reasonable capital base to be able to trade profitably to make sense. Forget about trading with small account and expect to make money to supplement to your annual income. If you want to supplement say 20% to you annual income, start with one year annual as your base capital. Forget about the idea of compounding. It is theory which work when we deposit our money in a bank. But that wont work in forex trading. Dont believe anyone who tell you he wants to trade a $5k account and make $1million in 5 years thinking he can compound his winnings. He forgot his losses can also compounded and he has no idea how to recover from drawdowns.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #70,924
  • Aug 25, 2016 7:49am Aug 25, 2016 7:49am
Inserted Code
one more piece of advice, i.e.
to succeed in this business, there is a lot more you need to learn. you will not learn all you need in public forum like FF here.
most of the things I know I did not learn them in public forum. whatever you find here in FF is just a very small portion of what is required to make you into a successful trader. 
I know a few TMS traders who have started here 5 years ago and they are doing well and making good money. They went on and build their own trading system but they all have one thing in common, i.e. they stick to the 5-Method as their core trading methodology. You will find many traders here jumping from 'system to system' in the last 4 to 5 years.
You need to have a reasonable capital base to be able to trade profitably to make sense. Forget about trading with small account and expect to make money to supplement to your annual income. If you want to supplement say 20% to you annual income, start with one year annual as your base capital. Forget about the idea of compounding. It is theory which work when we deposit our money in a bank. But that wont work in forex trading. Dont believe anyone who tell you he wants to trade a $5k account and make $1million in 5 years thinking he can compound his winnings. He forgot his losses can also compounded and he has no idea how to recover from drawdowns.

nice advice emu
  • #70,925
  • Aug 25, 2016 8:51am Aug 25, 2016 8:51am
Quoting emmanuel7788
{quote} . {quote} Looking at the big picture, last week was a very bullish close. So this week I am looking for a buy setup either on H4 and H1. But the Monday and Tuesday went into narrow range sideways and there were no valid setups during the London session. Yesterday was a very bearish day with nice sell setup. Today is the only day with a good setup during the London session with the LO candle is the direction following the weekly candle bias. The resistance and BRN 1.4800 was tested after last night London session closed and this morning Tokyo...
Sir,
Thank you very much for your detailed explanation.
My Trade closed with 20 pips profit. JSL of 20 pips hit.

Thanks
Attached Image (click to enlarge)
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  • #70,926
  • Aug 25, 2016 9:27am Aug 25, 2016 9:27am
Looks like a nice buy set up on GBPCAD H1
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  • #70,927
  • Aug 25, 2016 9:42am Aug 25, 2016 9:42am
Gbpusd +30. the importance of critical points for reversal. We must be able to dance with the market. Must be good dancers
Attached Image(s) (click to enlarge)
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  • #70,928
  • Aug 25, 2016 9:43am Aug 25, 2016 9:43am
Euraud +40. the importance of critical points for reversal. We must be able to dance with the market. Must be good dancers
Attached Image(s) (click to enlarge)
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  • #70,929
  • Aug 25, 2016 9:44am Aug 25, 2016 9:44am
Eurgbp +30. the importance of critical points for reversal. We must be able to dance with the market. Must be good dancers
Attached Image(s) (click to enlarge)
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  • #70,930
  • Aug 25, 2016 11:14am Aug 25, 2016 11:14am
for lovers of the DAX. The monthly is being reversed. While the daily if the price breaks 10497.697 can get to 10435. As of H4 the price is bouncing on S38 to 10497,697. Here then either there will be a pullback up to 10618.6 or break S38 to reach 10435
Attached Image(s) (click to enlarge)
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  • #70,931
  • Aug 25, 2016 11:30am Aug 25, 2016 11:30am
gold. Target +200 pips. I hope
Attached Image(s) (click to enlarge)
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  • #70,932
  • Aug 25, 2016 12:34pm Aug 25, 2016 12:34pm
Quoting orestebufalo
gold. Target +200 pips. I hope {image} {image} {image}


very good trading ..sticking to what call pure TMS
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #70,933
  • Aug 25, 2016 12:38pm Aug 25, 2016 12:38pm
Quoting emmanuel7788
{quote} very good trading ..sticking to what call pure TMS
OK OK SORRY....!!!
  • #70,934
  • Aug 25, 2016 12:38pm Aug 25, 2016 12:38pm
In case some of you are not aware of this ongoing Jackson Hole Symposium,
better be prepared for some market volatility anytime, can happen when you least expected as information get leak out of the closed door meetings.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #70,935
  • Aug 25, 2016 12:42pm Aug 25, 2016 12:42pm
Quoting orestebufalo
{quote} OK OK SORRY....!!!

why sorry?
I meant well and you have shown consistency in your approach which show in the profitable trades.
you are trading well as I see what you write on your charts.
I hope newbies will study your charts and take away the good points.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #70,936
  • Aug 25, 2016 12:57pm Aug 25, 2016 12:57pm
Hey Orestbufalo can you maybe share your Template and Indicators and explain your screenshots more detailed.
thx a lot guys for your work here!
  • #70,937
  • Aug 25, 2016 4:18pm Aug 25, 2016 4:18pm
Quoting emmanuel7788
In case some of you are not aware of this ongoing Jackson Hole Symposium, better be prepared for some market volatility anytime, can happen when you least expected as information get leak out of the closed door meetings.
I just remembered about the jackson hole meeting, could be why it has been very quiet today...
It's in fear when people show what they truly value.
  • #70,938
  • Aug 25, 2016 6:06pm Aug 25, 2016 6:06pm
Hi Emmanuel,

Could you give some comments about my UC D1 trade this week?

Open long trade in 8.23, which is the end of second green APB bar for:
- UC is wide range side way, could do both direction
- From PA perspective, 2nd HH/LH
- TDI cross, good angle
- close above 5EMA and 10EMA

Close it today for:
- Green line goes flat
- the bar of 8.22 became MB. And for 3 days, it did not make a new high

In 8.23, add another 2 long position for retracement, using MEME. So finally made a small profit.

muyir
Attached Image (click to enlarge)
Click to Enlarge Name: usdcad-d1-0826.png Size: 41 KB
Trade your belief, trade like Emmanuel
  • #70,939
  • Aug 25, 2016 7:20pm Aug 25, 2016 7:20pm
Quoting muyir
Hi Emmanuel, Could you give some comments about my UC D1 trade this week? Open long trade in 8.23, which is the end of second green APB bar for: - UC is wide range side way, could do both direction - From PA perspective, 2nd HH/LH - TDI cross, good angle - close above 5EMA and 10EMA Close it today for: - Green line goes flat - the bar of 8.22 became MB. And for 3 days, it did not make a new high In 8.23, add another 2 long position for retracement, using MEME. So finally made a small profit. muyir {image}
Hi,

My observation as follows:
UCad made a strong bullish move last Friday and that continued with follow through on Monday this week. After that, the market had not made any sign of higher high,higher low or lower high,lower low. It is holding at 1.2900 with the last 2 days small candles and small APB bodies, that is a signal of change any time.
The MN candle shows sideways. The W1 show sideways ranging and more to the bullish side with a range about 480pips in a rising channel.
we have to see what happens today and over this weekend with the Jackson Hole meeting ongoing. The economic outlook is not very optimistic and with the geopolitical problems worldwide, I am sure the central banks, finance honchos, etc. are all cautious with what they will say during this meeting. We nenvber know how the market will react to positive and negative news leaks.

Close all trades before London session closes today is what I will do today.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #70,940
  • Aug 25, 2016 7:46pm Aug 25, 2016 7:46pm
Em,

Do u use moving average in your charts?

Besides the 10ema and 5ema? Thanks.

I am not sure whether to use 200ema / 100ema / 50ema. or use sma as additonal indicators.
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