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Trading Made Simple

  • #72,801
  • Oct 28, 2016 8:39pm Oct 28, 2016 8:39pm
Quoting ItaTrader93
Hy Emm {quote} I love news like that, Especially when i have a clear wiev of what market is doing. I found that in most of the case the news is just a way to "accelerate" the technical situation, and it's not unusual to find good entry points with exceptional R/R. About money management. I keep having problems in defining what kind of MM suits me. I think there are basically 2 systems: let the profits run as much as you can or pick a trade with estabilished risk reward ratio (am i wrong?). Now, I prefer the second phisolosphy as i did...
Hi,

People talk about money management so easily in public forums. It is just two simple words "money management, money management,money management,... " you can repeat that ten thousand times. What I have not read is anything concrete and proven to work. What is money management?

You read Dr Van Tharp books, that's great. I think soon you will have to embark on your transformation journey. Your transformation journey will be the breakthrough which you will make you succeed long term as an investor and trader. It will be life changing experience, one that will not only change your life but that of all your family and future generations.

This book image below you still do not have yet I am sure.


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No worries now, it may still be too early for this book now. First you finish the book - Trading Beyond the Matrix - The Red Pill for Investors and Traders.


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Have Good Weekend.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #72,802
  • Oct 28, 2016 8:59pm Oct 28, 2016 8:59pm
hey emu are u have THV CaveManager v1.3 ea?
  • #72,803
  • Oct 28, 2016 9:52pm Oct 28, 2016 9:52pm
Quoting lisat
{quote}Everyone has their own idea of what makes for a good trade especially on the lower timeframes. But one thing that stands out is that it was completely against the timeframe above it, I am not talking about the general trend I am talking about the last candle on H4 was a very big bearing engulfing candle that closed below the 5ema. I would not go against it I would find a better trade that was in line with the higher timeframe.
Hi lisat, i would have entered the trade like Fbps if i noticed it too.

The point i want to bring up for discussion is that action in smaller tf generally always move first, followed by the next bigger tf. (slightly aggresive trading and there are more opportunities)

However, of cause the lower tf can move in the same direction with the next bigger tf. (more conservative trading but lesser opportunities)

please correct me if im wrong.
  • #72,804
  • Oct 29, 2016 2:10am Oct 29, 2016 2:10am
Quoting bunne
Hi guys, I want to thank all of you for being so helpful, I really love the teamspirit in here One of my first trades, please feel free to comment. Good entry? Bad entry? Did I better avoid because of something (like the stoch not being so favorable to buy)? I went in but now the trade turned into a little loss and the "real price" is under the 5ema. I understood that I only need to see to the AH candles, but suppose if the AH candle goes below the 5ema, do I wait out the candle or sell in certain conditions immediately? thanks! bunne {image}...
Bad entry.
Whyt late. You have to enter at the candle the cross take place or second candle. #post142 #
  • #72,805
  • Oct 29, 2016 3:47am Oct 29, 2016 3:47am
Quoting Tekkies
{quote} Bad entry. Whyt late. You have to enter at the candle the cross take place or second candle. #post142 #
Of course we all want to enter a reversal trade on APB#1 and APB#2 in the ideal situation.

But I looked at his post chart and I see the other problem is how he managed that trade entry knowing it was a rather late entry during that swing.
Even if he had entered on APB#2 after that APB#1 setup candle which closed above the 5EMA, would he have followed Big e exit rule when that candle pulled back to below the entry level?
The issue here is really the price action at support and resistance PASR. I often enter a trade even when it is the 5th candle after a reversal provided I see the PASR and there is Higher TimeFrame HTF reconciliation.

Trade management is a real problem for many traders... where to place stop loss, when to move SL, when to exit and take profit, when to close the trades, etc.
All these are common problems faced by newbies and even rookie traders with 5 years trading experience.

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Have a Good Weekend,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #72,806
  • Oct 29, 2016 4:38am Oct 29, 2016 4:38am
Quoting saranga
hey emu are u have THV CaveManager v1.3 ea?
The version is here in this post:

http://www.forexfactory.com/showthre...44#post9073644

there are many features in that version and if you need help to set up the parameters according to your trade exit strategy, let me know I can help you.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #72,807
  • Oct 29, 2016 5:10am Oct 29, 2016 5:10am
Quoting emmanuel7788
{quote} Trade management is a real problem for many traders... where to place stop loss, when to move SL, when to exit and take profit, when to close the trades, etc. All these are common problems faced by newbies and even rookie traders with 5 years trading experience. {image} Have a Good Weekend,
Hi Emm, I had my SL taken out before when I moved to BE.
Is there a minimum # of pips? How do you handle this?
  • #72,808
  • Oct 29, 2016 5:59am Oct 29, 2016 5:59am
Quoting Fbps
{quote} Hi Emm, I had my SL taken out before when I moved to BE. Is there a minimum # of pips? How do you handle this?

there is a pdf on trade management.

fits read that and see if you can manage your trade exit strategy using R and R-Multiple method.

http://www.forexfactory.com/showthre...98#post6958198
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #72,809
  • Edited 8:27am Oct 29, 2016 7:46am | Edited 8:27am
Quoting emmanuel7788
{quote} I LIKE when you build up a position when the market retraces by averaging-down with smaller risk trades, you must also think of scaling in (up-sizing) when the market run in your favour. Always have a maximum risk in your plan. I set my maximum risk to 2% of my trading account. Whatever the outcome , my risk is maximum 2%. Between your initial entry price and the maximum risk 'R' level, you can have maximum 5 average down entries aka ME trades to build up to one full position of 2%.. Sound complex, maybe but once you have a grasp of...

Hi Emmanuel ,

I have got building into a price retracement understood. I found the pdf on post #20,342 ( How to Build a Position taken out of the book title How to Beat the Forex Dealer by Agustin Silvani) that you shared very helpful. This makes a lot of sense to me and is excellent thinking.

However, the article did not go into specific detail about building into a winning position (aside from adding the final 2 positions as the market dropped away from his USD/CAD sell example). I had 2 trades last week that only retraced a little. One example was the EUR/JPY daily trade which shot out the blocks, but I only captured a small portion of the move with a small percentage. Should I have added positions in, say, 50 point blocks - taking profit, initiating new ones keeping an eye on total risk? Do you have anything else you have written on this topic that you could share ? Thanks again for all you do Emmanuel in helping traders.
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  • #72,810
  • Oct 29, 2016 11:48am Oct 29, 2016 11:48am
Quoting griffinssoul
{quote} hey Zuiko - im flattered u sign up to ask me a un answered question ........ u r right i dont use the 5ema - after i get more practice i find i didnt need it - the close line [ not 4 dry'n washing] is more important 4 me so i can see candle close wit HA candles ...... welcome 2 TMS
Griffin, i always want to know how you trade using "closed" candle (aka ema 1) of The current HA is because i want to be able take trade on my phone.
We can replicate TDI using rsi and ma, but the HA is not available on MT4 mobile. But since i saw your chart, it makes me wonder: can i use the closing candle stick only + TDI cross to trade on my phone? If yes, please give me more light
  • #72,812
  • Oct 29, 2016 3:19pm Oct 29, 2016 3:19pm
Manually back testing UsdJPy chart h4. Back test take too much time But it build more confident in the Trading method or system what ever you call it.
Anyway I found APB indicator volatility Band which called PAC yellow color is much better than EMA 5 Shift 3.
I think expert on this system agree with me.
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MA provides the market's current direction and strength.
  • #72,813
  • Oct 29, 2016 9:11pm Oct 29, 2016 9:11pm
Quoting emmanuel7788
{quote} looking at his 5 charts, the main problem is not overtrading. it is definitely something else.
I agree, greed, as this week was good for me and i wanted to do more trades for more profit (overtrade), and tired, that time on local is 2AM here and i usually take a power nap or something to be 100% or i don't trade, and technical errors that i think i wouldn't made them on other day, but well lesson learn.
Also seems i would have to demo on 1hr charts as i haven't but well everyone have a good weekend and best of luck next week
  • #72,814
  • Oct 29, 2016 9:18pm Oct 29, 2016 9:18pm
Quoting hasib
Manually back testing UsdJPy chart h4. Back test take too much time But it build more confident in the Trading method or system what ever you call it. Anyway I found APB indicator volatility Band which called PAC yellow color is much better than EMA 5 Shift 3. I think expert on this system agree with me. {image}
PAC = price action channel, the one that invented the TDI indicator also use PAC on his system its call synergy something but is another system.
if you read carefully Big E comments you will see that he made TMS in base of (not sure if is correct, english is not my mother lang) that system plus other but not same system. he took out some stuff to make it simple.. etc but work with what is good for you
  • #72,815
  • Oct 30, 2016 6:47am Oct 30, 2016 6:47am
Quoting emmanuel7788
{quote}
Just by using the information the TDI gave at that time without analyzing the chart like you did, bunne could have walked away with a profit instead of a loss.
bunne "mistake" trade has amplified that you have to studying and prakties TMS, over and over and over. Newbies must remember that if you place no order you still make money (preserve capital).
To place an order just because a chart shows strong moment and forget that "normally" afterwards there is a pullback will lead to a loss.
BigE has stated many times the following:
1. Enter on that bar or second bar from cross
2. 3de Bar - walk away
2. Angle between 12/2 or 3/6
3. Exit when green = flat, hook, check mark
4. Do not chase big bars
5. It is ok to enter on rebound
If bunne has used the info in post#142, he would have saved himself some pips
#142
The question was concerning why not enter on candle # 3. In this example the TDI indicates taking the trade on candle # 1. Had you entered on candle # 3 you would have been two candles late for the CORRECT ENTRY. Because a reversal normal runs 3-8 candles we were fortunate it has run so many candles...
The idea about entering on candle 1 or 2 if you get the TDI signal is if it only goes 3 candles you should get on average at least some profit... especially on higher time frames.
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  • #72,816
  • Oct 30, 2016 7:41am Oct 30, 2016 7:41am
Quoting lisat
{quote}I am quite sure once I get more used to it I will be able to see the setups without the need for the prompts but at the moment it helps me see things more clearly and of course with the logs it keeps helps to see how it really looked in realtime without the need for guesswork. For now I am off on my holidays to the Canary Islands tomorrow for some sun and relaxation not a computer in sight. I will be back in 2 weeks
wat ur do'n sounds excellent ........ i always try 2 push myself 2 improve - it never stops

...... have a relax'n holiday!!!!

Quoting chino
{quote} Zuiko : TDI s KING on TMS. first if you see a TDI cross then check PA, if is candle 1-2 is your entry, you don't need to wait for the 2, but if for you works as confirmation is ok. but you can get in from the 1 candle when TDI cross, check forex basics and good luck {quote}
ur right chino - good post ........ keep practicing & keep post'n ur [bad & good] trades
  • #72,817
  • Oct 30, 2016 7:59am Oct 30, 2016 7:59am
Quoting Tekkies
{quote} Just by using the information the TDI gave at that time without analyzing the chart like you did, bunne could have walked away with a profit instead of a loss. bunne "mistake" trade has amplified that you have to studying and prakties TMS, over and over and over. Newbies must remember that if you place no order you still make money (preserve capital). To place an order just because a chart shows strong moment and forget that "normally" afterwards there is a pullback will lead to a loss. BigE has stated many times the following: 1. Enter...
good post Tekkies ....... IMO noobs must get the entries down perfect first ...... [the first 3 in ur list]
  • #72,818
  • Oct 30, 2016 8:21am Oct 30, 2016 8:21am
Quoting chino
{quote} A set up candle usually is the first candle, so if you see a clear cross (not a touch) btw red and green on tdi hand every things looks good is good for entry. Just remember to check the forex basics.
good post chino ......... yeah the setup [s/u] candle should give u the heads up alert like Big E describes ....... by the close of the 2nd there should b a clean & clear cross
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  • #72,819
  • Oct 30, 2016 8:29am Oct 30, 2016 8:29am
Quoting Zuiko
{quote} Griffin, i always want to know how you trade using "closed" candle (aka ema 1) of The current HA is because i want to be able take trade on my phone. We can replicate TDI using rsi and ma, but the HA is not available on MT4 mobile. But since i saw your chart, it makes me wonder: can i use the closing candle stick only + TDI cross to trade on my phone? If yes, please give me more light
Big E said that HA candles were better 2 use 4 noobs cause they show less noisey changes of candle color [when u first start trade'n this is hard 2 watch without get'n shaken out IMO]........ BUT! HA candles dont close on JPY candle close [CloseHA = (open + high + low + close) / 4] ...... so this is y i use the close line [MA1 makes it bigger line]
  • #72,820
  • Oct 30, 2016 9:09am Oct 30, 2016 9:09am
Quoting griffinssoul
{quote} Big E said that HA candles were better 2 use 4 noobs cause they show less noisey changes of candle color [when u first start trade'n this is hard 2 watch without get'n shaken out IMO]........ BUT! HA candles dont close on JPY candle close [CloseHA = (open + high + low + close) / 4] ...... so this is y i use the close line [MA1 makes it bigger line]
As i learn from past chart, i found that a TDI cross = HA color change (this mean setup candle #1).
so can i trade on candle #2 open (using japanese candle)? Is that safe?
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