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Trading Made Simple the right way, and other trading lessons 329 replies

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Trading Made Simple

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...
Quote
If she can do it, so can you.

this post comes across like 1 of those cheezy ads more than anyting else - notice the wording "use a proven Money management strategy" - noting in trade'n is proven for every1 - thats impossible cause there would b no market if it was ......... if u join the sydney group u can meet that lady & know her details - thats not weird at all http://www.forexfactory.com/showthre...04#post9184804
Quoting goathed1
I think the moral of the story here is please guys do your own DD.
I hear such statements often at trading workshops, seminars, etc. " trade with money you can afford to lose".

the hard truth about trading is the trading account size. let's take an example, for someone living in the US with a median income of $55k per annum.
he trades with small account of $500. that is small amount of money which he can afford to lose. it is like playing the weekly power ball game of chance. you never know when you hit that big one. you can even bet online too.
with a trading account of $500, you get margin call. no big deal just top up again.
in a good month, you can make 30% to 40% profit on that $500... it get eurphoria.

but when you trade an account the same size as your annual income, that's when you will get a different story. 30% to 40% win is no longer possible.
newbies should learn the game of risk in forex trading.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
Quoting catalin_eros
I tried ME/ME this week, most trades were taken on H4, and I know I made mistakes, perhaps too many, but I still managed to end up in profit. In the absence of a script, I even forgot to use TP on the GBP pairs, and last night would have given me much, much more profit. Instead, the spike went back up, and I closed the trades today, at a worse price than the price from last night. Still with gained pips, though. My rules were a bit different than Emm's, and these were taken on demo, not on the live account. Only the trades with 0,01 lots are ME/ME....
hey catalin_eros - congrats 4 ur results - wit the GBP pairs there will also b times when they will short squeeze them - so my conclusion - this is just another trend method wit a grid recovery - let me check how many of these systems there r - hang on .......... back again - there r 50 Mega Billion of them ........ do u feel u r really doing TMS like Big E ???
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...

There are lessons you can learn from this post I shared.
Keep an open mind.
Trading can make you money but you have to work hard at it. plus a lot of other things which you need to consider and learn. It takes time and diligent work on your part.
I posted that above and I did not ask you to pay me anything. No one has ask you to pay for anything not like in this website advertisement "Trading Made Very simple" I post above.
Some people have very negative attitude because they have experience losing in this forex trading.
What they should share is what they learn from their failures and what they did to do the turnaround.
They will continue to use my post in FF and make their negative comments. Let them continue.
You are all discerning people you know what is of true value to read and learn from.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
Quoting catalin_eros
I tried ME/ME this week, most trades were taken on H4, and I know I made mistakes, perhaps too many, but I still managed to end up in profit. In the absence of a script, I even forgot to use TP on the GBP pairs, and last night would have given me much, much more profit. Instead, the spike went back up, and I closed the trades today, at a worse price than the price from last night. Still with gained pips, though. My rules were a bit different than Emm's, and these were taken on demo, not on the live account. Only the trades with 0,01 lots are ME/ME....
Hi catalin_eros,

good results and thanks for sharing them.
We all make mistakes. I still make mistakes. It is an every day thing as I learn from my own mistakes.
What is more important is what we learn from our mistakes and do the tunr-around thing.
With more practice, you will learn how it will work and you can fine tune that to suit your own trading style and system.

Just a quick reminder to have a good understaing of the basics of using Multiple Entries and Multiple Exits ME/ME when trading with TMS.
- you manage your %Risk per currency pair you chose to trade
- you divide your %Risk into smaller portions using 5 maximum entries during a retracement after your initial trade entry. This looks like you are avergaing down to your 1st trade which is in floating loss. So some traders will say you are adding to losing trade.
- when you use ME entries, you are anticipating that the market will pull back 100 to 150 pips for example on D1 chart trading. This is exactly why Big E did not like to trade the D1 chart because his exit strategy is to close his trade when price pulls back 10 to 15pips.
- we use the pull back to build up our position in the market usually a basket of 3 to 5 trade ME entries. This will give us an overall average entry price.
- there are current 2 ME add-on entry methods. One is using a fix trade order distance using % of the ADR(100) days in #pips. the other is using a time delay in placing add-on ME trade entries with a minimum number of pips between the last trade entry using the TDI/RSI croos in M15 TF. I use the second method more often because I use position sizing with a technical Sl to calculate the trade lot size. But when you use the fix lot 0.01lot, it is the smallest lot size and the 1st method will work out but you must manage the floating drawdown very closely and keeping that below 5% per currency pair you trade.
- exit take profit, you can take some profits whenever some ME trades are in profit and not let the profitable trades go back into losses when market start to go sideways.
- also when you have maximum 5 ME trades open in one basket/position, you must try to look for breakeven of the most recent open trades and let those earlier open ones protected with trailing profit/SL and try let 'profit run'. I will show some live examples when I see them in the following weeks. you need to observe this more withm ore realtime trading.

the best thing about trading this way is that it is very lower stress when we manage our trades. We focus and follow our trade plan. We use a trade manager to manage the ME/ME and we only need to initiate when to buy and sell on our trading charts. All the rest is done by the trade manager and we need to check whenever we have time or when we want to. Otherwise, checking once per day is what I do for D1 chart trading.

a lot more I can write and share, but I have weekend activties now.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
Multiple Entries:

learn from our OP Big E, he gave us two trading methods;

5-Method and 21/233 Method Post#3018, Post#4104,

with experience of the two simple trend trading methods which work all the time when the market is trend,

you can also learn how he used Multiple Entries.

Money Management
Big E on using multiple entries in the CHS thread
Post#2622 , Post#2629 , Post#2771 and Post#2912

Big E passed away in Oct 2010, it has been 4 years since. We let our trading with TMS evolve with the experience and knowledge which Big E shared with us in his two threads.
Make good use of his knowledge and experience, and build upon that on your own. Some of us did just that and we progress year on year. So can you when you are committed with your own time to learn, practice and share in this thread. You never have to trade alone and I said that long time ago. Go and find people in your community and trade together. Form small trading groups with like-minded people.

about small Trading Groups here is my old post.
Post#47,428

I know a few members have gone and started their own trading groups. if you have interest to find members in your community, simply post your interest here that you want to join a group near where you live and let those groups members contact you via PM. If you look in the Forums "Member's Lounge" you will also find one new group there. I will also facilitate your request to join trading groups but only when I see that you are an active TMS trader and have often post often in this thread, and i will try match you to those groups I know. Right now there is a new request for TMS traders based in Taiwan but I have only one member interested.

have a good weekend.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
here is 1 of Big E's trade setups - u can do this on any TF ....... Big E did not exit on pulls back 10 to 15pips for HTFs [he did this 4 scalp'n which works superbly] ..... see his examples ......... the ME/ME method is clearly a different trading method
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Quoting catalin_eros
{quote} We'll learn together and be great traders someday, I am certain of it.
hey catalin_eros - could u plz post a copy of the trade manager for the ME/ME method ...... so every1 can use it on this thread thnx
Develop your own. It's easy.
Just study everything Emm has taught us here and work with a programmer if you can't do it yourself.
I did it, cost me a couple $$ but works a charm. Will only share it with my group...which I don't have yet.

Quoting griffinssoul
{quote} hey catalin_eros - could u plz post a copy of the trade manager for the ME/ME method ...... so every1 can use it on this thread thnx
Looking for A TMS group

Hi guys,
Im interested in forming a new group or joining a current group trading TMS.

More eyes on the charts and sharing BP planning can only improve us.
Im in NZ but location should not determine who joins I believe.

PM me if interested
Cheers

PS..ive got nice EA managing MEME and single entry trades that I will share if we got group working together
Quoting bigpips
Develop your own. It's easy. Just study everything Emm has taught us here and work with a programmer if you can't do it yourself. I did it, cost me a couple $$ but works a charm. Will only share it with my group...which I don't have yet. {quote}


I learn from my mistake. years ago I shared trading tools,EA, etc .things with another member. I discovered that he stole what I shared and sold them online.
Never share anything you paid for in any public forum even to members you meet online.

Take care!
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
Quoting bigpips
Looking for A TMS group Hi guys, Im interested in forming a new group or joining a current group trading TMS. More eyes on the charts and sharing BP planning can only improve us. Im in NZ but location should not determine who joins I believe. PM me if interested Cheers PS..ive got nice EA managing MEME and single entry trades that I will share if we got group working together

I shall join your team when I move to Queenstown or TeAnau.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
Folks,

Read the thread.

Trading Made Simple is the 5-Method. It started in the Craig Harris Stochastic Method thread which was moved to the Commercial Content Forum.
5-Method and 21/233 Method Post#3018, Post#4104. TMS will help you find the market trend using Price Action with Support & Resistance. TMS is to trade when the market is trending with price swings.

Multiple Entries / Multiple Exits ME/ME is a Money Management Strategy to help in risk management to place multiple trade entries in the market and to take profits out of the market with multiple exits. It is proven to work but only when you learn it and know how it work when the market is trending.

Did our OP Big E use multiple entries, read these posts and learn how he did that.
Post#2622 , Post#2629 , Post#2771 and Post#2912
Use his knowledge and experience to help you make money from the market.

Read the thread and you will learn.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
I think I need to say something about the direction of this thread. I don't post much because I am busy trading and learning by the examples other post here. I learned a lot but I also did not want to get caught up with the bickering that was going on. Now I see it is picking up again. And I see that this thread is going in many different direction. First everyone needs to reread the first page of this thread. Second, read post 5 where eelfranz tells us why he started this thread. Someone asked about the other method and eelfranz said:

"That was just one of many methods we discussed. Folks were getting confused by mixing up rules from different methods so this thread will only be about the 5 method"

So, can we keep it to the 5 method system and anything else should go back to the old thread which somehow keeps popping up. This is about the TMS 5 method system. Let's get back on track and talk about this. This ME/ME is another method developed from another system. And if we are to discuss this it should be from that thread or a new thread like the other similar TMS threads. Lets stop confusing people and do as eelfranz said when he started this thread. I think he would have asked you to start a new thread and just reference this thread on TMS 5 method.

And for the record these multiple extries multiple exit links are from his old thread, not this thread. You have to ask yourself why he did not post it here.
Quoting catalin_eros
{quote} Hello, Grif! I think you have mistakem me for a professional trader. I feel like I am still in the learning process, so there is no need for a trade manager from my part. The only person I want to prove something to is myself. Besides, those ME/ME trades I did were in the testing faze, and they were done on demo, as I previously said in that post. On another note, I do agree with you that Emm is not using the core of TMS. .... Have a great weekend, everyone!

@catalin-eros,

for my understanding, please explain to me what is 'core of TMS" and which part of this "core of TMS" that I am not using.
I am very eager to hear and learn from you too. Thank you.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
Quoting lca
I think I need to say something about the direction of this thread. I don't post much because I am busy trading and learning by the examples other post here. I learned a lot but I also did not want to get caught up with the bickering that was going on. Now I see it is picking up again. And I see that this thread is going in many different direction. First everyone needs to reread the first page of this thread. Second, read post 5 where eelfranz tells us why he started this thread. Someone asked about the other method and eelfranz said: "That was...

his post#5
http://www.forexfactory.com/showthre...05#post4569605
Quoting eelfranz
Divergence, That was just one of many methods we discussed. Folks were getting confused by mixing up rules from different methods so this thread will only be about the 5 method.
was a direct response to post#3
http://www.forexfactory.com/showthre...88#post4569588

Quoting Divergence
what happened craigs stoc method didnt work?
and I read it as he was referring to his old post in the CSH thread where members were mixng rules from different methods.
Post#3358
mixing different method rules from CH, Synergy, 21/233, 5-method, …and

moving forward, I will do as Big E did in his post:
follow Big E, its time to clean up your charts Post#3593
http://www.forexfactory.com/showthre...96#post4413296

why he did not post it here?
I don't know why. I won't want to make any wild guesses. I heard he stopped trading when he became very ill in late 2011. He passed away in Oct 2012.
I am sure he made a lot more money trading with multiple entries when the market is trending so I improvised and use multiple entries trading with the 5-Method too.
But I can see that the 21/233 Method would be visually simpler to add on multiple entries to ple up those pips.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
And Here We Are

#8286
You know the rules... please trade it as laid out.
Hi! Many new traders are here. Just want to share a post by the originator of the thread....
[/quote]I encourage everyone to Demo Trade the method to build confidence and study the charts posted... it's pretty cut and dried... don't make it more complicated... HA PA/5ema/TDI/Stochs is all you need. I've traded off the TDI many times with no PA showing and have been successful over and over.[/quote]
Winners Never Quit, Quitters Never Win
Quoting emmanuel7788
{quote} ... - also when you have maximum 5 ME trades open in one basket/position, you must try to look for breakeven of the most recent open trades and let those earlier open ones protected with trailing profit/SL and try let 'profit run'. I will show some live examples when I see them in the following weeks. you need to observe this more withm ore realtime trading. the best thing about trading this way is that it is very lower stress when we manage our trades. We focus and follow our trade plan. We use a trade manager to manage the...
I guess you meant it the other way round: "try to look for breakeven of the earlier open trades and let the most recent ones protected with trailing profit/SL"

Keep posting Emm! ... I guess the vast majority on this thread are learning good stuff from your posts
Quoting emmanuel7788
{quote} @catalin-eros, for my understanding, please explain to me what is 'core of TMS" and which part of this "core of TMS" that I am not using. I am very eager to hear and learn from you too. Thank you. regards,
Sorry, Emm! I do not want to quarrel with anyone. I will delete my reply to Grif. I will sit back until the dust settles down.
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