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Trading Made Simple

  • #74,741
  • Jan 15, 2017 7:07am Jan 15, 2017 7:07am
Quoting brian661
And I saw someone or you have shared a book about money management, but I cannot find the post back.. Thanks in advance.
Book on MM found on Post# 74,626
Excel Spreadsheet found on Post# 74,631
Play the hand you were dealt.
  • #74,742
  • Jan 15, 2017 7:28am Jan 15, 2017 7:28am
Quoting Trader MT4
Hello, how I make analyse of pair: DAILY is my MAIN chart. Here I wait for change colour, TDI cros,... of course in trend direction WEEKLY is only INFORMATION chart. If price is on strong S or R, and colour of HA H4 chart is my MICRO ENTRY chart. I wait breaking of Range (consolidation, Sideway) of course in Daily direction {image} {image}
Hi,my method is similar to yours. weekly template for trend, and daily template is the main chart.
Hope you share more charts.
  • #74,743
  • Jan 15, 2017 7:33am Jan 15, 2017 7:33am
Quoting emmanuel7788
{quote} I was looking at the H1 candles and knowing that I was trading against the H4 and D1 'trend' , I would protect my trade as quickly as possible. I use Capital Protection setting in THV CaveManager.
Hello Emmanuel. Which other considerations, Do I have to take into account while trading against the trend like u did?. Finding aligned TF is not easy sometimes.

Thanks in advance
Fenix Capital Mgmt Return This Month: na
  • #74,744
  • Jan 15, 2017 11:48am Jan 15, 2017 11:48am
Attachment GAttachment G
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  • #74,745
  • Jan 15, 2017 12:28pm Jan 15, 2017 12:28pm
Quoting Trader MT4
Hello, how I make analyse of pair: DAILY is my MAIN chart. Here I wait for change colour, TDI cros,... of course in trend direction WEEKLY is only INFORMATION chart. If price is on strong S or R, and colour of HA H4 chart is my MICRO ENTRY chart. I wait breaking of Range (consolidation, Sideway) of course in Daily direction {image} {image}
very near to how I trade , To make things simpler I use the 5 day break out on the 4hr chart and put my buy position at least 10 pips above the line.
As I agree with you you cannot judge the trend on 1 timeframe. Bob 44
  • #74,746
  • Jan 15, 2017 1:55pm Jan 15, 2017 1:55pm
Quoting Trader MT4
AU.PNG;2140900AY3.PNG;2140903EU3x.png;2140913GA3x.png;2140918GN3x.png;2140920GYx3.png;2140969 {image} {image} {image} {image}
This looks like a very good and solid approach to me
First comes knowledge about yourself, then comes a system...
  • #74,747
  • Edited 7:41pm Jan 15, 2017 6:51pm | Edited 7:41pm
Quoting elDIABLO21
{quote} Hello Emmanuel. Which other considerations, Do I have to take into account while trading against the trend like u did?. Finding aligned TF is not easy sometimes. Thanks in advance

Hi,

when you trade very short term like Intraday using H1 timeframe and below, always be careful with the market session closing and new market session opening.

When I trade during the Asian session, I pay attention to the Sydney closing which is before Frankfurt opens and after that the Tokyo closing which happens during the London session.

When trading during the London session, pay attention when NY opens, usually it is good to lock in profits before NY open or even close trades.

When you have trades open during the London / NY sessions overlap hours, I would close trades when London session closes.

Exception to these is when you can convert your H1 trades to H4 swing trades and manage them in H4. In this way, you do not have to worry too much about the market session open and close. But doing this means your stops are much bigger and you often can scale out then scale in positions when the market go in your favour. Note that you can buy and sell in the same week when market is wide range sideways. You need to pick the correct pair with the market type and know how to see the swing high and swing low during the week.

If you prefer look for potential to convert H1 trades to D1 Position trades, do not take any counter-trend trade setups. Trade in the direction of the D1 trend or bias. Wait for the price action to make the new low or high of the day, then take the trade direction according to the D1 chart. I like this best and do this often during the week.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #74,748
  • Jan 16, 2017 12:11am Jan 16, 2017 12:11am
Quoting Maule
{quote} Book on MM found on Post# 74,626 Excel Spreadsheet found on Post# 74,631
thanks for this info Maule. I was looking for a MM strategy to add to my trading style.
cheers!
  • #74,749
  • Jan 16, 2017 12:48am Jan 16, 2017 12:48am
Quoting emmanuel7788
{quote} Hi Frank, It is good to formulate your own trading rules and test them in realtime live market. I have done the attached pdf for you and hope that will help you develop a proper trading plan using TMS 5-Method as the core trading method. Always remember to keep the core of TMS , i.e. use the TDI and APB. All other stuff you want to add to must be tested over many trades. You need to work on a money management strategy and test that in realtime live market using a demo account. regards, {image}
Thanks for the pdf Emmanuel, pics etc help with understanding the strategy.
I have been reading through the posts as well as demo testing TMS. Slowly getting comfortable adding knowledge of it...hoping to reap the real$$$ rewards soon.
Do you use trailing stops with SL/TP targets? Or do you manually trap pips? I'm use to trading 5m/15m/1H TF's snagging & trapping 10-25 pips or more. But living on PST zone I am happy I found this Thread, so I can make pips while I sleep. I have limited time in the morning until my account grows consistently more than my day job pays.
Cheers!
  • #74,750
  • Edited 1:31am Jan 16, 2017 1:19am | Edited 1:31am
Quoting JanCeulemans
{quote} This looks like a very good and solid approach to me
Hello Bob, please send clearly Picture with entry in your chart with this indicator,
and how you use it,
very thankfull, dan
  • #74,751
  • Jan 16, 2017 4:45am Jan 16, 2017 4:45am
Quoting Trader MT4
Hello friends, my analyses {image} {image} {image} {image} {image}
Good work Trader MT4

Thank you for sharing.
All for one and one for all
  • #74,752
  • Jan 16, 2017 5:08am Jan 16, 2017 5:08am
Quoting RickM
So whats wrong with trading the Weekly when you see a chart like this. To play it safe, just Sell in micro lots and trade with ME/ME entry's every interval of 0.5(ATR100). I will continue this process till we meet Resistance or I see Trade Invalidation. Of course the Stop Loss can be huge at first so I will only trade Micro lots with the Weekly. This week, I am Selling EURJPY, USDJPY, GBPAUD and Buying AUDUSD, XAUUSD. I like the look of XAUUSD best with the Trump factor maybe coming into play. I was in Wasington DC last week to get a feel for the...
Hey RickM,

I know a couple of traders who only use the weekly as they don't have enough time or don't want to spend too much time in front of a screen. They are both quite successful but as you have already pointed out, the stops are huge so you need a big $ trading balance if MM rules are properly followed! Scaling in is advisable even if you have enough $.

Carry on...
All for one and one for all
  • #74,753
  • Jan 16, 2017 5:13am Jan 16, 2017 5:13am
Quoting Axleman
{quote} Thanks for the pdf Emmanuel, pics etc help with understanding the strategy. I have been reading through the posts as well as demo testing TMS. Slowly getting comfortable adding knowledge of it...hoping to reap the real$$$ rewards soon. Do you use trailing stops with SL/TP targets? Or do you manually trap pips? I'm use to trading 5m/15m/1H TF's snagging & trapping 10-25 pips or more. But living on PST zone I am happy I found this Thread, so I can make pips while I sleep. I have limited time in the morning until my account grows consistently...

Hi,

I don't use trailing stop in the traditional way.

Trailing using previous candle(s) high-low is more effective to lock in pips when price breaks out. This is a feature in THV Cavemanager also it can be done manually quite easily when we trade H4 and D1 candle, we only need to move our stops once every 4 hours when the candle closed.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #74,754
  • Jan 16, 2017 5:16am Jan 16, 2017 5:16am
Quoting RickM
So whats wrong with trading the Weekly when you see a chart like this. To play it safe, just Sell in micro lots and trade with ME/ME entry's every interval of 0.5(ATR100). I will continue this process till we meet Resistance or I see Trade Invalidation. Of course the Stop Loss can be huge at first so I will only trade Micro lots with the Weekly. This week, I am Selling EURJPY, USDJPY, GBPAUD and Buying AUDUSD, XAUUSD. I like the look of XAUUSD best with the Trump factor maybe coming into play. I was in Wasington DC last week to get a feel for the...

Nice.

But be careful with GBPxxx pairs after the weekend huge gaps.
Tomorrow British PM is making a speech about 'hard' Brexit. I think it is going to be bite the bullet and just do it... painful but it has to be done.

GBP will rise again!
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #74,755
  • Jan 16, 2017 5:32am Jan 16, 2017 5:32am
Quoting Maule
{quote} Book on MM found on Post# 74,626 Excel Spreadsheet found on Post# 74,631
thanks for the reading material
I will get my head around this, but always can be wrong
  • #74,756
  • Jan 16, 2017 7:02am Jan 16, 2017 7:02am
Useful site for stoploss ect
Attached Image (click to enlarge)
Click to Enlarge Name: lot size.JPG Size: 82 KB


http://www.noafx.com/forex-calculator.php
  • #74,757
  • Jan 16, 2017 10:26am Jan 16, 2017 10:26am
I am looking for Heiken Ashi for mobile (Android) or Synergy_pro. Does somebody know how I could find it?
  • #74,758
  • Jan 16, 2017 10:49am Jan 16, 2017 10:49am
Quoting kmichalo
I am looking for Heiken Ashi for mobile (Android) or Synergy_pro. Does somebody know how I could find it?
You can download Trade interceptor, it has lots of indicators including HA. you can also link your trade account to this app. and trade through it
Trading is all about Flexible Thinking
  • #74,759
  • Jan 16, 2017 11:44am Jan 16, 2017 11:44am
Quoting emmanuel7788
{quote} Hi, when you trade very short term like Intraday using H1 timeframe and below, always be careful with the market session closing and new market session opening. When I trade during the Asian session, I pay attention to the Sydney closing which is before Frankfurt opens and after that the Tokyo closing which happens during the London session. When trading during the London session, pay attention when NY opens, usually it is good to lock in profits before NY open or even close trades. When you have trades open during the London / NY sessions...
Thanks for your time E. I appreciate it.

About this "But doing this means your stops are much bigger and you often can scale out then scale in positions when the market go in your favour." I'm wondering if theres a book or pdf or post which help me to develop a sound Money Management strategy?? Anyone?

Thanks in advance
Fenix Capital Mgmt Return This Month: na
  • #74,760
  • Jan 16, 2017 1:16pm Jan 16, 2017 1:16pm
Quoting elDIABLO21
{quote} Thanks for your time E. I appreciate it. About this "But doing this means your stops are much bigger and you often can scale out then scale in positions when the market go in your favour." I'm wondering if theres a book or pdf or post which help me to develop a sound Money Management strategy?? Anyone? Thanks in advance
try:

http://www.forexfactory.com/showthre...19#post9424719

Scaling in:
http://www.forexfactory.com/showthre...91#post6739091

Multiple entries/exits:
http://www.forexfactory.com/showthre...92#post8380092
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