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Trading Made Simple

  • #71,601
  • Edited 11:54pm Oct 2, 2016 11:39pm | Edited 11:54pm
My current H4 candle will close in about 30mins.
I see only potential H4 setups - NZDUSD in my watchlist pairs.

other pairs which I do not trade : NZDCAD and AUDNZD.

If you trade like Big E's style and risk 15% to 30% of his $10k account deposit, and with single entry trade, you should follow his exit style when the market pull back 10 to 15 pips against his single entry trade.
This is to protect his account from severe damage when you trade with 3 to 5 standard lots in one single entry.
Cut your losses fast because there is no such thing as trade recovery when you trade with single entry single exit.
Look for other trade opportunity and try recover from that one single entry loss.

Recovery trade is only when I trade a basket of trades and when I have one losing basket of 5 trades, I will look for another trade to recover my losses in the shortest time possible. Keep my drawdown low as possible, i.e. below 10% or else recovery from drawdown is very difficult to achieve. Keep my drawdown period as short as possible. I have not share what my recovery trading method in this thread so do not jump to any conclusion.

Good trading folks.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #71,602
  • Oct 3, 2016 12:02am Oct 3, 2016 12:02am
Is this NZDUSD H4 setup valid?

Attached Image (click to enlarge)
Click to Enlarge Name: NZDUSD Week40 Oct 3 H4 setup.png Size: 31 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #71,603
  • Oct 3, 2016 12:21am Oct 3, 2016 12:21am
Quoting emmanuel7788
Is this NZDUSD H4 setup valid? {image}
My observation is that it is not a good entry. The latest H4 bar is IB. Need some momentum to make it valid
Trade your belief, trade like Emmanuel
  • #71,604
  • Oct 3, 2016 12:24am Oct 3, 2016 12:24am
Quoting emmanuel7788
My current H4 candle will close in about 30mins. I see only potential H4 setups - NZDUSD in my watchlist pairs. other pairs which I do not trade : NZDCAD and AUDNZD. If you trade like Big E's style and risk 15% to 30% of his $10k account deposit, and with single entry trade, you should follow his exit style when the market pull back 10 to 15 pips against his single entry trade. This is to protect his account from severe damage when you trade with 3 to 5 standard lots in one single entry. Cut your losses fast because there is no such thing as trade...
I just found something last week about recovery

http://www.forexfactory.com/showthre...1622&page=2969
Trade your belief, trade like Emmanuel
  • #71,605
  • Oct 3, 2016 12:52am Oct 3, 2016 12:52am
Hi Emm,


I think GBPCAD has empty spaces on the left of D1 chart
Attached Image (click to enlarge)
Click to Enlarge Name: 2016-10-03_1316.png Size: 41 KB


On H4 chart, currently the price pullback near WK WRB low and BRN 1.7000, perhaps wait for the continuation to confirm based on TMS setup and enter the market?

Attached Image


ISL -> ADR(100)*1.5 (above previous D1 swing high)
ME Trade distance -> ADR(100)*0.2
cut loss area -> near HPSL 1.71100-1.71400

What do you think?




regards,


Steven
  • #71,606
  • Oct 3, 2016 1:22am Oct 3, 2016 1:22am
Quoting Tekkies
{quote} It is never easy
it cant b easy - cause if it was there would b no market ......... here is a utube on the psychology of the SL ...... Big E had a mental SL & 4 his set&forget he had a emergency SL

Inserted Video
  • #71,607
  • Oct 3, 2016 1:27am Oct 3, 2016 1:27am
1 of Big E's golden rules is 2 never hold on 2 a losing trade - this is @ the heart of TMS - just move on2 another trade - just as Big E said ........ NEVER do this [see failed MEME below] hold on 2 losing trade & take trade another against Big E number 1 rule - sell is green cross under red <- NEVER BUY ...... in this chart for the NON-TMS MEME method we see a SELL for green cross over red - THIS IS NOT TMS
Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 118 KB
  • #71,608
  • Oct 3, 2016 1:32am Oct 3, 2016 1:32am
If you trade like Big E's style and risk 15% to 30% of his $10k account deposit, and with single entry trade, you should follow his exit style when the market pull back 10 to 15 pips against his single entry trade.
This is to protect his account from severe damage when you trade with 3 to 5 standard lots in one single entry.
Cut your losses fast because there is no such thing as trade recovery when you trade with single entry single exit.
Look for other trade opportunity and try recover from that one single entry loss.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #71,609
  • Oct 3, 2016 1:35am Oct 3, 2016 1:35am
Quoting muyir
{quote} My observation is that it is not a good entry. The latest H4 bar is IB. Need some momentum to make it valid
yup. there is an H4 Inside Bar close... some risk.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #71,610
  • Edited 1:49am Oct 3, 2016 1:38am | Edited 1:49am
Quoting mousteven
Hi Emm, I think GBPCAD has empty spaces on the left of D1 chart {image} On H4 chart, currently the price pullback near WK WRB low and BRN 1.7000, perhaps wait for the continuation to confirm based on TMS setup and enter the market? {image} ISL -> ADR(100)*1.5 (above previous D1 swing high) ME Trade distance -> ADR(100)*0.2 cut loss area -> near HPSL 1.71100-1.71400 What do you think? regards, Steven

yes.
there is 'empty space' below last MN low.
but these pairs GBPAUD. GBPCAD and GBPNZD have been in narrow range after Brexit June 26. These pairs are in sell mode on D1 chart.
so we got to adjust the ME trade distance and make up for that.

BTW, your dont always need to use the ADR(100) for your ME trade order distance. This was created for those trading with small acount and trading with small lot size 0.01lot.

I prefer to use the the 4-hour time delay and M15 TDI cross as subsequent ME trade order entry. Tibovwh knows this.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #71,611
  • Oct 3, 2016 1:49am Oct 3, 2016 1:49am
Quoting griffinssoul
1 of Big E's golden rules is 2 never hold on 2 a losing trade - this is @ the heart of TMS - just move on2 another trade - just as Big E said ........ NEVER do this [see failed MEME below] hold on 2 losing trade & take trade another against Big E number 1 rule - sell is green cross under red <- NEVER BUY ...... in this chart for the NON-TMS MEME method we see a SELL for green cross over red - THIS IS NOT TMS {image}
knowing were 2 put ur SL is mega important ...... Big E tells us how & when to get out ...... simple ...... u must admit 2 ur self u r wrong & go 2 the next trade just like Big E said we should do

Inserted Video
  • #71,612
  • Oct 3, 2016 1:56am Oct 3, 2016 1:56am
the mega major problem wit MEME is it is NOT TMS ...... in this example Big E would have told u 2 get out ..... he would have asked u y did u take a 2nd trade breaking my number 1 entry rule
Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 124 KB
  • #71,613
  • Oct 3, 2016 2:18am Oct 3, 2016 2:18am
Unfortunately we TMS traders do not predict the market.
We do no know when the market will go into narrow range which TMS 5-Method will fail to make money for us.
in his Post#647 , Big E taught us to check the trend -short term trend and long term trend.

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD trade June 28.png Size: 85 KB


If you do not understand what is Single Entry / Single Exit and what is Multiple Entries / Multiple Exits, and what is Position Building by professional traders,

go and read these posts and attached pdfs.

Big E on using multiple entries in the CHS thread
Post#2622 , Post#2629 , Post#2771 and Post#2912
Money Management Strategy for TMS: Post#48,008
Using Multiple-Lot Positions to Improve trading TMS: Post#33,507
Entry and Exits: Post#24,918 Post#18,422 Post#19,617
Multiple Entries / Multiple Exits for Day chart trading: Post#58,726
How to Build a Position: Post#19,588
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #71,614
  • Oct 3, 2016 2:27am Oct 3, 2016 2:27am
Quoting caah
{quote} Hi Emmanuel, based on my interruption tomato is a fruit- developed from fertilized ovary and seeds of a flowering plant. You could also raise question - how tomatos are sliced?

in general, people knew tomato is botanically is a fruit.
someone insist it is a vegetable because tomatoes are found in the vegetable section in the supermarket.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #71,615
  • Oct 3, 2016 2:32am Oct 3, 2016 2:32am
Quoting emmanuel7788
{quote} yes. there is 'empty space' below last MN low. but these pairs GBPAUD. GBPCAD and GBPNZD have been in narrow range after Brexit June 26. These pairs are in sell mode on D1 chart. so we got to adjust the ME trade distance and make up for that. BTW, your dont always need to use the ADR(100) for your ME trade order distance. This was created for those trading with small acount and trading with small lot size 0.01lot. I prefer to use the the 4-hour time delay and M15 TDI cross as subsequent ME trade order entry. Tibovwh knows this.


Thanks for your insight.
  • #71,616
  • Oct 3, 2016 2:52am Oct 3, 2016 2:52am
Big E trade'n ...... [NOT MEME ] ........ u can easy do this wit small account ..... i took 0.25% risk to make avg 0.75% ........ just like Big E said ....... no gambling hoping 4 market 2 recover ...... ..... time 4 a cup of ..... a gr8 start 2 the week ......
Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 34 KB
Attached Image
  • #71,617
  • Oct 3, 2016 3:12am Oct 3, 2016 3:12am
Hi TMS traders,

I just got this from one new TMS trader. Let me share with you her success. I met her in 2011 at a workshop for stock traders. She became interested in forex trading so she asked to join my group of traders in Sydney. She is an IT professional earning an annual salary of about $80k per annum. She has a trading business plan for stock trading and after about 2 years demo trading in Jan this year she decided to trade forex live. I advised her to start with $40k (half of her annual income she saved). She went live in July 2016 with a $50K account deposit.
Today she shared with me her trading results for Sep closed as of last Frdiay.
below is her equity chart. I am so happy she made it

Attached Image (click to enlarge)
Click to Enlarge Name: New TMS trader Sep closing.png Size: 61 KB


If she can do it, so can you. You have to believe in TMS and use a proven Money management strategy that can help you grow your trading account. You dont need to have 70% to 90% win rate. All you do is work hard to achieve average 60% to 65% and trade with ME/ME using TMS 5-Method as your core trading method.
Never mind what some may say ME/ME is not TMS and is not compatible with Big E money management, etc.
Big E passed away in Oct 2012, stop living in the past. His simple trading method continue to make money for some traders who believe in basic changes after 3 years of trading. And we do not change the 5-method which we use only the APB/HA candles and one basic TDI version for consistency. we believe in long term success with consistency. Forget about those short term win rates which intention is to mislead people to get rich quick scheme.

Good trading TMS folks,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #71,618
  • Oct 3, 2016 3:16am Oct 3, 2016 3:16am
Quoting emmanuel7788
Hi TMS traders, I just got this from one new TMS trader. Let me share with you her success. I met her in 2011 at a workshop for stock traders. She became interested in forex trading so she asked to join my group of traders in Sydney. She is an IT professional earning an annual salary of about $80k per annum. She has a trading business plan for stock trading and after about 2 years demo trading in Jan this year she decided to trade forex live. I advised her to start with $40k (half of her annual income she saved). She went live in July 2016 with...
Very inspirable, thanks for this sharing
Trade your belief, trade like Emmanuel
  • #71,619
  • Oct 3, 2016 3:28am Oct 3, 2016 3:28am
Quoting Tekkies
{quote} ........ (always trying to building an equity millipede). .....{image}
IMO thats the key Tekkies - build'n 1 small step at a time ....... master traders like Phx62, Big E & Lastingwell r on another level & very successful traders in there time ...... we cant match them - there skills r 2 good ...... so i take small small steps forward ........
  • #71,620
  • Oct 3, 2016 3:38am Oct 3, 2016 3:38am
Quoting mousteven
Hi Emm, I think GBPCAD has empty spaces on the left of D1 chart {image} On H4 chart, currently the price pullback near WK WRB low and BRN 1.7000, perhaps wait for the continuation to confirm based on TMS setup and enter the market? {image} ISL -> ADR(100)*1.5 (above previous D1 swing high) ME Trade distance -> ADR(100)*0.2 cut loss area -> near HPSL 1.71100-1.71400 What do you think? regards, Steven
First positive MEME entry/exit for week GBPCAD

Wkly- downtrend & IB. Last week PA tested 10ema and closed below
Daily- congestion, last 2 days pin bars
H4- entry at Daily low once PA tested Fri close.

TP1- 25pips
TP2- 50 pips
TP3- 81 pips
Attached Image (click to enlarge)
Click to Enlarge Name: GBPCAD- 3-10.JPG Size: 129 KB
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