Trading Made Simple

Got it! Thanks a lot!
And it was "information", not "intonation" LOL

Euraud H4

Just wondering why you use 14 3 3 in RSI setting? EL franz always use 8 3 3

Those are settings for Stoch

RSI is:
RSI Period = 13
RSI Price = 0
Volatility Band = 34
RSI Price Line = 2
RSI Price Type = 0
Trade Signal Line = 7
Trade Signal Type = 0; //0-3

When bigE use (833) he don't trade up20 and under 80.but in 14.3.3 we trade because trend. I use 1433 from Mehdi theard .

thanks though, so this setting belongs to what timeframe?
and He mentioned in many posts never add any thing in the system and he use 8,3,3
how come?

Can you explain more?
I dont get the concept, and who`s the Mehdi? and you give me the treat link?

Post #1

I highly recommend you go and learn from babypips before trading the 5 method

all free time study forex ...........................ur?
this week green pip

share screenshots of your transactions dear friend?

Well-done which time frame do you trade?

Nice results

thank mate
i am trade week day h4 allways

Thanks for the post! Did you complete the PDF yet?

Remind me which PDF you after?

In your post# 73566 regarding ME you mentioned posting a PDF.

Which EA are you using for ME?

Thanks!

Nice .. today the WTI ran around 400 pips =8% in my direction ..
I added some positions the last days ..
We´ll see how it goes ..

Guido

GBPCAD Me.Me trades.. trade taken based on day chart.. trade Opened on Thursday. with a double Beob Bar. Went Long.





Total pips approx=480 Pips...

Even though oil did not go in my favour, Me,me enabled me to profit from bullish GBP.. Management was Key. Some mistakes as doing this manually which allowed me to miss out on 200 pips.

I would like to share a TMS trade taken yesterday during Tokyo session and offer a little food for thought on money & trade management.

The basis for this type of money and trade management comes from principal laid out by Petercrowns and Fezmar (links provided below). This post will not be sufficient to explain their entire concepts, but in a nutshell, i'll highlight the main concepts that were employed.

One of the rock solid principals PeterCrowns laid out is that once a trade is placed, your first target should be 1:1 with your risk and at this point half your position should be closed. The primary logic behind this principal is that if you close half you position at 1:1 you essentially have a free, or BE, trade if you dont move your original SL. Keeping your original SL position inherently leaves additional space for your trade to "breathe" and therefore, survive until the move continues. The argument is leaving your original SL in place will give a greater chance for any trade to survive as opposed to raising you SL to you entry point. Furthermore, if your trade reaches 1:1 and you therefore exit half, the trade is therefore free and significantly easier to manage emotionally. Looking at my chart below, you can clearly see that not following this principal, but rather using the conventional raising of the SL to entry point, my trade would not have survived.

The Fezmar principals, in a nutshell, was basically to find entry points with a good chance of reaching BE, and then letting the market do its thing until it reached a very high R:R. High R:R was basically defined a 1:20 - 1:40, and until this level was reached, closing a trade was never even considered. Fezmar did this by taking trades with small SL, usually 5pips plus spread, and waiting for at least 200 pips in the positive. Obviously there are many loses, and many many more BE trades, but the logic set forth by Fezmar was that the eventual winner would pay for all the losers, and leave a healthy profit. Interestingly, Fezmar did not get into details of specific entries, but rather insisted that all that really mattered was an entry method that reached BE a reasonable percentage of the time.

Both threads are a great read, and indeed have much participation from familiar faces here in TMS. Furthermore, the real value of both threads is in the money and trade management concepts, which can be applied to any trading method, and in my case TMS.

Originally, Fezmar's concepts were very appealing, however, when i began applying the concepts i personally found it very difficult to deal with a string of 5-10 BE trades. The losers didn't bother me, because ultimately i was still profitable, however the BE trades were difficult to deal with, so difficult that i knew i had to change something. That is when i married the Petercrowns principal to Fezmar. Almost instantly my live trading reflected a significant drop in BE trades. The extra room the "1:1 principal" afforded me kept me in more trades. That said, the trade-off is that the second half of the trade was only worth half because of closing first half at 1:1. Smaller R:R (though still large), but less BE, and in my specific case, overall more profitable.

Lastly, another trade management principal i have employed is Emmanuel's "converting a trade to a higher time-frame". Those who follow TMS have surely read about the benefits of converting a trade to a higher TF when the market permits. In a nutshell (again), when a trade has moved favorably in my direction, i then manage my exit signal from a HTF. In my case, the exit signal is a few pips below a candle that breaks the opposite side of the PAC. I say a few pips because S/R & Fibo can come into play, but overall, its usually 3-15 pips below.

Now, to the trade a hand, trade was taken on USDJPY of the M1 chart using BPP, PASR, TDI. Risk was 9.9 pips. First exit was at 20pips, not at 9.9pips, because price moved so fast i have not set my TP yet (Petercrowns also mentions this). At this point, even if price went straight to my original SL, i would come out ahead 1R total. From this point on i let the trade breathe and let the market do its thing. As you will notice from the chart, had i moved my SL up to entry i would have been taken out 3 times before price decided to move. I eventually went to sleep before FO and awoke for NYO with the trade sitting at about 70pips in profit. At this point i looked at m15, m30, h1, & h4 and as usual decided to manage the trade in h1. Of note, even though i don't usually manage trades in m15, there has only been one exit signal on that TF, m30 & h1 are still well above the PAC.





Currently, trade is sitting at 180p profit, and an overall return on 10R total ( 2R + 18R).


Anyways, i am aware this thread is primarily h4 trading, and indeed that is the best way to learn TMS. Nonetheless, a little provocative thinking about different MM and trade management can never hurt. Personally, finding the 1:1 principal and part of Fezmar's ideas are what made TMS a better fit for my personality and trading objectives. TMS can be traded on any TF, indeed m15 is as high as many traders will go.



Fezmar's Thread: (only 90 posts - Pdf's available in thread - Post 501 contains deleted posts)
http://www.forexfactory.com/showthread.php?t=514127

Peter Crowns thread: (only 41 posts - pdf's available in thread)
http://www.forexfactory.com/showthre...18#post1896818


Hope this is of some value to someone, and green pips to all.

Best,
N

PS Pipeasy also deserves a mention as many of his lessons have now become part of my trading plan.