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Trading Made Simple

  • #72,641
  • Oct 26, 2016 3:49am Oct 26, 2016 3:49am
Quoting emmanuel7788
{quote} Hi, very nicely done... I am in NZDCAD and aiming for the BRN 0.9600 and I need USDCAD to wake up from it slumber. regards,
NC is in none of the 4 groups of pairs that you are trading. How come you've laid your eyes upon it this week?
  • #72,642
  • Oct 26, 2016 4:07am Oct 26, 2016 4:07am
Emmanuel did you exit uscad because of colour change on H4 candle.Appreciate all the information you and others are giving to newbies.
  • #72,643
  • Oct 26, 2016 4:40am Oct 26, 2016 4:40am
Win vs loss, AN vs EU:
Attached Image (click to enlarge)
Click to Enlarge Name: AUDNZDH4.png Size: 78 KB
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDH4.png Size: 95 KB

I failed with EU because I took it close to 32 level, but I thought that momentum candle actually cleared the support area and it would go further down. As my buddy, Guido, uses to say, 'the trades taken from 68 downwards and from 32 upwards are the best.' And if I remember correctly, Big E mentioned similar words.
EDIT: There was a cross on the TDI when I took it. Now I cannot see it anymore.
  • #72,644
  • Oct 26, 2016 5:03am Oct 26, 2016 5:03am
Catalin why didnt you buy the AN trade at the earlier cross?PS Thanks for all the posts and info.
  • #72,645
  • Oct 26, 2016 5:16am Oct 26, 2016 5:16am
Quoting emmanuel7788
{quote} Did you see this post and chart on early Monday morning? http://www.forexfactory.com/showthre...16#post9213716 '
Yes, I did. Both H4 and H1 TF had a valid setup.

However if the entry is on H1 TF, the outcome will be a profit. If the entry is on H4 TF, the outcome will be a loss. Hence, my confusion

P/S I reckon the TDI re-painted - hence H4 TF is not showing a TDI cross.
Purple line is the entry on the 24th Oct.
Attached Images
  • #72,646
  • Oct 26, 2016 5:19am Oct 26, 2016 5:19am
Quoting Fbps
{quote} Yes, I did. Both H4 and H1 TF had a valid setup. However if the entry is on H1 TF, the outcome will be a profit. If the entry is on H4 TF, the outcome will be a loss. Hence, my confusion P/S I reckon the TDI re-painted - hence H4 TF is not showing a TDI cross. Purple line is the entry on the 24th Oct. {image} {image}
Did you take notice of what he said though in that post:
Quote
Start this week you trade only D1 charts.
Success means going from failure to failure without loss of enthusiasm
  • #72,647
  • Oct 26, 2016 5:34am Oct 26, 2016 5:34am
Quoting emmanuel7788
{quote} What I see is the following: 1) The Weekly price action is above the 5EMA so it is buy bias according to the 5-Method basic rule. 2) On the D1 chart, any sell setup is short term and is against the longer term 'trend' which is the Weekly. 3) On the D1 chart, there is support seen to the left of your chart, so that is one of the risk in that setup. But it is still ok to sell and grab a few pips which often work for scalpers provided you look at one timeframe lower. This is something which Big E mentioned a few times in his old thread.


Thanks Smallpipper - I hadn't noticed that 'W' pattern before and the continuation it indicates, but I will look out for it now.
Thanks Emmanuel - I now know that a Daily sell setup (price action against Weekly trend e.g above 5 ema) maybe good for a scalp (on one timeframe lower).
Thanks Chino (and Emmanuel pointed that out too) - Very clear now that there was strong daily support (don't know how I missed it when I did my analysis) Think I was just focusing too much on the entry trigger and the rejection of the BRN...

Thank you for all your time and consideration. I have learnt.
  • #72,648
  • Oct 26, 2016 5:54am Oct 26, 2016 5:54am
Quoting lisat
{quote}Did you take notice of what he said though in that post: {quote}
Did u take notice of his other post on H1 short?

If I had short on D1 AUDUSD without knowledge of ME/ME strategy, I will be pulling my hairs now.
Attached Image
  • #72,649
  • Oct 26, 2016 6:01am Oct 26, 2016 6:01am
Quoting johnn
Catalin why didnt you buy the AN trade at the earlier cross?PS Thanks for all the posts and info.
Hi, Johnn!

We can have two setups: crosses and bounces. My AN trade was a bounce trade, not a cross trade. Now to answer why I did not take the cross trade.
I marked with the green vertical line the entry candle based on the cross signal.
Attached Image (click to enlarge)
Click to Enlarge Name: AUDNZDH4.png Size: 81 KB

Leaving the guppies aside (which had not been spread at the time of the cross), I did not take that signal because the D1 was not confirming the buy setup at that time. Let's switch to D1 and see what it looked like, shall we?
Attached Image (click to enlarge)
Click to Enlarge Name: AUDNZDDaily.png Size: 82 KB

The D1 had not crossed the 5ema, as you can see on the vertical green line.
I entered on the bounce because besides what I have already mentioned, if you look at the D1, you will see a WRB. When I entered, the WRB had just been broken, so that was more confirmation that price may go up.

I hope that helps.

P.S.: The guppies are just something that I like using, based on what I learned from SJ. They are not part of the TMS original method.
  • #72,650
  • Oct 26, 2016 6:02am Oct 26, 2016 6:02am
Quoting Fbps
{quote} Did u take notice of his other post on H1 short? If I had short on D1 AUDUSD without knowledge of ME/ME strategy, I will be pulling my hairs now. {image}
Yes but that was not the post Emmanuel asked you about it was the other one. I do not follow me/me because I do not like it but just trying to show you that was the one he quoted.
Success means going from failure to failure without loss of enthusiasm
  • #72,651
  • Oct 26, 2016 6:34am Oct 26, 2016 6:34am
Quoting Fbps
{quote} Did u take notice of his other post on H1 short? If I had short on D1 AUDUSD without knowledge of ME/ME strategy, I will be pulling my hairs now. {image}

There is no need to pull out our hairs when we trade so long we have done our trade plan, know the %risk we place in each trade and have our stop loss in place.
Cutting loss is tough decision but that is one of the trading task we perform as traders. Doing that requires mental strength and discipline.
The problem with many traders is that they do not have the mental fitness required to be traders, they do not have a mental strategy when they are trading because they spend too much time thinking of the trading method looking at indicators, reading forums and get distracted by all the forum discussions and small talk.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #72,652
  • Oct 26, 2016 6:43am Oct 26, 2016 6:43am
Quoting Fbps
{quote} Yes, I did. Both H4 and H1 TF had a valid setup. However if the entry is on H1 TF, the outcome will be a profit. If the entry is on H4 TF, the outcome will be a loss. Hence, my confusion P/S I reckon the TDI re-painted - hence H4 TF is not showing a TDI cross. Purple line is the entry on the 24th Oct. {image} {image}

It takes years of experience to be able to trade the D1 chart. Not every day the market will run in the direction we picked but to know what to do in such situations is a test of your trading experience.
To be able to trade with ME/ME will take at least 2 years of live market practice and every trader will have a lot from learn from professional traders how they trade in all type of market situations. Very few retail traders will survive long term and make consistent profits year after year.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #72,653
  • Oct 26, 2016 6:47am Oct 26, 2016 6:47am
Quoting catalin_eros
{quote} NC is in none of the 4 groups of pairs that you are trading. How come you've laid your eyes upon it this week?

I am an opportunist and when I see a weak CAD for days, it is easy to pick some trade opportunities with the anti-CAD pairs and make pocket money every day.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #72,654
  • Oct 26, 2016 6:53am Oct 26, 2016 6:53am
Quoting johnn
Emmanuel did you exit uscad because of colour change on H4 candle.Appreciate all the information you and others are giving to newbies.

Hi,

Do not use APB colour change as general rule for your trade exit.
Look at your entry and where your initial SL is, then move your SL using price action to protect your trading capital. Better to move SL to BE at your entry price when you see price move in your favour. Let your trade hit your plan TP by managing your SL by trailing behind the previous candle close.

It would be better to explain this using live trade example. I'll try post one live trade example when I see one and have time to post.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #72,655
  • Oct 26, 2016 7:01am Oct 26, 2016 7:01am
Quoting catalin_eros
{quote} You used to say that we should not consider TDi when we are looking at TFs higher than D1. So how can we have 5-method on W1 then? Thanks to Grif, I have shown the reasons for entering that trade, so that the newbies won't get confused. So it should all be fine now. I have your average entry price indi, but I have developed my own method with ME/ME, and I am eager to discuss it with you. You are part of the group that Tibo initiated, but you are not active. I've also sent you a contact request on skype, because I want to share the method...

you are in the same league as Paul Tudor Jones.

I have a long list of skype requests ... but have no time to be in every group who invited me. I will join in the skype groups discussions only when the groups have specific topics and questions which they want me to help answer. I have my own group and too busy with my own trading.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #72,656
  • Oct 26, 2016 7:05am Oct 26, 2016 7:05am
Quoting catalin_eros
{quote} About this chart... one question, Emm: wasn't the candle that I marked an invalidation ? Or perhaps you took it from a HTF and you were only managing it on D1, because that would make sense. {image}

Nope. That is just a 2 days correction in a strong down trend. So that cannot be a trade invalidation when you are on the Weekly chart trading.
In any case, when we trade with ME/ME, most often your trade should be stopped out by the smart cut loss rule to protect your trading risk capital and that max 5% DD way before any trade invalidation happens.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #72,657
  • Oct 26, 2016 7:06am Oct 26, 2016 7:06am
Hello everyone,
Still trying with demo account to build confidence.
Would like to knows is my trade correct or not.
USDCHF H4
short on red line
1. TDI bounce downward to the 4 o'oclock direction.
2. second candle
Attached Image
  • #72,658
  • Oct 26, 2016 7:07am Oct 26, 2016 7:07am
Quoting emmanuel7788
{quote} There is no need to pull out our hairs when we trade so long we have done our trade plan, know the %risk we place in each trade and have our stop loss in place. Cutting loss is tough decision but that is one of the trading task we perform as traders. Doing that requires mental strength and discipline. The problem with many traders is that they do not have the mental fitness required to be traders, they do not have a mental strategy when they are trading because they spend too much time thinking of the trading method looking at indicators,...
Agree, if one is confident on their trade skills, I don't see any any issue with their mental strength to cut loss because there will be another trade that will bring positive results. It is when one is learning, we lose confidence over time if we don't trade right. Everyone goes through that process and hopefully find one that is suitable to the individual.
  • #72,659
  • Oct 26, 2016 7:32am Oct 26, 2016 7:32am
Quoting brian661
Hello everyone, Still trying with demo account to build confidence. Would like to knows is my trade correct or not. USDCHF H4 short on red line 1. TDI bounce downward to the 4 o'oclock direction. 2. second candle {image}
Hi,

That last H4 close with very steep slope = 6.
Set up looks valid.

To the left of the H4 chart is previous resistance turn support and that BRN 0.9900.
Good to scalp for few pips and we never know if more sellers will join the market to break the support and bring price lower.
It will up to how you manage your trade now.

Attached Image (click to enlarge)
Click to Enlarge Name: USDCHF Week 43 Oct 26 NYOpen.png Size: 91 KB


regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #72,660
  • Edited 10:18am Oct 26, 2016 8:26am | Edited 10:18am
Is anyone here willing to share some stats for this system? Win rate? Number of monthly trades? Number of wins? Number of losses? Number of consecutive wins/losses? Number of pips gained/lost? Your Risk/Reward? I've looked all over this thread, but can't seem to find any (Please redirect me if you know of any). Can you also say which TF you're using? Many thanks
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