Attachments: Trading Made Simple

Trading Made Simple

#73,281
Nov 14, 2016 2:42pm Nov 14, 2016 2:42pm

emmanuel7788
Joined Nov 2008 | Status: Trader | 50,214 Posts

Quoting carnifex

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Hi, Sorry to "dump" a question here with a new account and no contributions or whatever. I used to have an account long time ago but I cannot remember it anymore, so back again with a new account. I read nearly everything in this thread, which is like a LOT of information to process. One question keeps still spinning in my head. How important is it really to close all trades at the end of the london session, like Big E says. Ive read it, but not a lot and not many other traders are mentioning it. Is it important or are you guys just...

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that depends on your trading system developed with this 5-Method - your money management strategy, your risk management, your EXIT STRATEGY.

if you have read all of Big E's post and his training charts, you will know why that is so important to him.

Honesty is a very expensive gift. You wont find it in cheap people.WBuffett

#73,282
Nov 14, 2016 3:21pm Nov 14, 2016 3:21pm

bunne
| Joined Dec 2015 | Status: Trader | 95 Posts

Quoting emmanuel7788

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{quote} that's easy, 1) you should only have one chart with the pipware minicharts for trade planning and top down analysis only. 2) Do Not use the pipware mincharts template as your trading charts.

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I opened it in the demo account where no trades are ongoing and it does work faster with 16 pairs with no extra indicators etc... I can have more then one chart open but then I always have to change the time frame when I switch charts to get the TDI fully visible.

Thanks for the answer
bunne

#73,283
Nov 14, 2016 3:54pm Nov 14, 2016 3:54pm

TampaFX
| Joined Apr 2016 | Status: Trader | 136 Posts

Quoting emmanuel7788

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This hot question I get in PM last week. What is position building? How to Build a Position I don't have time to explain this over and over again. I know 73k posts is just too many to look for that 'needle in the haystack'. So please go back to this post and read that pdf attached and also try understand that chart in that post. http://www.forexfactory.com/showthre...86#post6953186 {image} Position building is not about trading in small lot sizes. It is about getting into the market at the best average entry price with the...

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Emmanuel,

I thought you posted H4 MEME details in the past but I went through all your posts with no luck. If you have a link or PDF that would be great!

Is it possible and/or practical to trade MEME on H4?? I have been having good success with the H4 time frame and I would like to add MEME. I am testing MPTM but if you have better EA I would like it try it.

My current plan is:

SL - 1.5 - 2*ADR100 (or swing high if higher)
Levels - .25 - .50 ADR100
TP - Still not sure maybe .60 AWR or 1*ADR100

Thanks!

Successful people do what unsuccessful people are not willing to do

#73,284
Nov 14, 2016 4:07pm Nov 14, 2016 4:07pm

mortezakh
| Joined Nov 2015 | Status: Trader | 274 Posts

I try trade daily with tms and me/me
Euraud
Eurcad

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#73,285
Nov 14, 2016 4:52pm Nov 14, 2016 4:52pm

carnifex
| Joined Nov 2016 | Status: Trader | 13 Posts

Quoting TampaFX

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{quote} What time frame are you trading? You will find several traders keep their trades open for more than 24 hours on the H4 & Daily Time Frames.

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I'm testing with 4hrs chart. And the lasts tests I've done on EURUSD for entire 2003 I managed to get a good result closing positions end of London session. However if I just wait for the typical TDI exit signals and keep positions over night my results are not improving.

But can I read between the lines of what your saying that good results should not be tied to closing at te end of London session and good results should also be able when waiting for the TDI exits?

#73,286
Nov 14, 2016 4:58pm Nov 14, 2016 4:58pm

carnifex
| Joined Nov 2016 | Status: Trader | 13 Posts

Quoting ensale

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{quote} ... What are you going to master? swing day charts including H4? Or trade intra,H1, M15/M5? What suits you and your personality?

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For now definitely 4hrs. Things can change if it suits me and my life better. For now 4hrs.

But if I understand correctly; 4 hrs is best during London session but for success it's not necessary to close everything at the end of the London session. Waiting for a proper TDI exit should give good results.

#73,287
Nov 14, 2016 5:05pm Nov 14, 2016 5:05pm

carnifex
| Joined Nov 2016 | Status: Trader | 13 Posts

Quoting emmanuel7788

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{quote} that depends on your trading system developed with this 5-Method - your money management strategy, your risk management, your EXIT STRATEGY. if you have read all of Big E's post and his training charts, you will know why that is so important to him.

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Thanks. I fully understand the necessity of my plan/system which consists of more than a few simple entry and exit rules. The thing I was wondering is whether the point of closing at the end of the London session in itself is a key thing to get a higher percentage of winning trades. Meaning that if one decides to keep positions and just exit on TDI rules neglects a key role and therefore cannot reach a high percentage of winning trades.

Hopefully I made myself clear. Sometimes it's a bit of a challenge to explain/express what I mean in text.

#73,288
Nov 14, 2016 5:21pm Nov 14, 2016 5:21pm

Daniel 777
| Commercial User | Joined Aug 2011 | 72 Posts

Quoting Daniel 777

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An example of the TMS method alongside some key fundamental divergence which emerged last week from Aussies, and New Zealand central banks. Nothing complicated, just trading the obvious with TMS signalling the way . AUD/NZD trade on the Daily timeframe... https://www.youtube.com/watch?v=WUNulfKU918

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Update on this Daily chart trade AUD/NZD from the end of last week- Have 5 positions (1% risk only) , long on AUD/NZD. RBA minutes (Red Event) out soon and Dairy Trade during the London session, so this is how I am playing it.....

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#73,289
Nov 14, 2016 5:34pm Nov 14, 2016 5:34pm

rovingmutt
| Joined Nov 2016 | Status: Trader | 17 Posts

Great video, I am watch this also,

#73,290
Nov 14, 2016 7:04pm Nov 14, 2016 7:04pm

emmanuel7788
Joined Nov 2008 | Status: Trader | 50,214 Posts

Quoting TampaFX

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{quote} Emmanuel, I thought you posted H4 MEME details in the past but I went through all your posts with no luck. If you have a link or PDF that would be great! Is it possible and/or practical to trade MEME on H4?? I have been having good success with the H4 time frame and I would like to add MEME. I am testing MPTM but if you have better EA I would like it try it. My current plan is: SL - 1.5 - 2*ADR100 (or swing high if higher) Levels - .25 - .50 ADR100 TP - Still not sure maybe .60 AWR or 1*ADR100 Thanks!

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here is one potential H4 trade with ME/ME.
its counter trend but you can mitigate this risk with ME/ME.

NZDUSD consolidates with Master candle[3] at BRN 0.7100.

Plan A is to buy.
Plan B is to sell when this week swing high is seen with PA at Resistance.

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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett

#73,291
Nov 14, 2016 8:52pm Nov 14, 2016 8:52pm

brian661
| Joined Jul 2016 | Status: Trader | 149 Posts

Quoting emmanuel7788

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{quote} you did not apply what you learn in Post#647 you sold right into a support which was a previous resistance... seen very clearly on your chart. there are also several reasons why this pair / trade should be avoided with TMS 5-Method. {image}

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Thanks Emmanuel, TampaFx and Daniel for the replies
I will bear in mind and check the post every time before enter a trade

#73,292
Nov 14, 2016 9:09pm Nov 14, 2016 9:09pm

TampaFX
| Joined Apr 2016 | Status: Trader | 136 Posts

Quoting emmanuel7788

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{quote} here is one potential H4 trade with ME/ME. its counter trend but you can mitigate this risk with ME/ME. NZDUSD consolidates with Master candle[3] at BRN 0.7100. Plan A is to buy. Plan B is to sell when this week swing high is seen with PA at Resistance. {image} {image}

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Thanks I will take a look at it. What type of ADR SL and ME levels would you use for H4?

Successful people do what unsuccessful people are not willing to do

#73,293
Nov 14, 2016 10:32pm Nov 14, 2016 10:32pm

emmanuel7788
Joined Nov 2008 | Status: Trader | 50,214 Posts

Quoting TampaFX

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{quote} Thanks I will take a look at it. What type of ADR SL and ME levels would you use for H4?

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do you trade with fixed lot size per trade or do you use %risk of your trading capital with R=initial SL and calculate your Position Size per trade?

Honesty is a very expensive gift. You wont find it in cheap people.WBuffett

#73,294
Nov 14, 2016 10:42pm Nov 14, 2016 10:42pm

saranga
| Membership Revoked | Joined Mar 2016 | 1,615 Posts

Quote

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emmanuel7788

gbp index gbp down shot?

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#73,295
Nov 14, 2016 10:48pm Nov 14, 2016 10:48pm

saranga
| Membership Revoked | Joined Mar 2016 | 1,615 Posts

emu erucad gap fill today?

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#73,296
Nov 15, 2016 12:16am Nov 15, 2016 12:16am

toosin_alade
| Joined Jul 2009 | Status: Trader | 21 Posts

Quoting emmanuel7788

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{quote} Post#60,281 Post#61,635 The biggest problem with many TMS traders who are still struggling to be profitable is they spend too much time looking for the TDI cross, 12-2 , 4-6 bounce, etc. and that APB#1 and APB#2 for trade entry. Most do not read Post#647 and do not understand how to use that post as their pre-trade checklist. They still think trading is made simple but the fact is trading...

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This is it... thanks emmanuel, you have nailed it (sinks into my mentality) for me all these years. am glad because i'd been struggling with consistency. anyhow, please share with us tools of measure to adjudge this WINNING EDGE and know (or possess) that am having it. I am following your advice cos i had a job to cater for the family and learning average of 1-2 hours each day except Saturdays and Sundays. thanks again emm.

#73,297
Nov 15, 2016 2:04am Nov 15, 2016 2:04am