Trading Made Simple | Page 3739 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Monitor for 'Trading Made Simple' system 565 replies

Trading Made Simple the right way, and other trading lessons 334 replies

Indicators for the 'Trading Made Simple' system 343 replies

MTF Indicators for the 'Trading Made Simple' system 241 replies

Trading Made Simple system follower - Thanks to eelfranz 9 replies

Attachments: Trading Made Simple
Exit Attachments

Trading Made Simple

  • #74,761
  • Jan 16, 2017 1:43pm Jan 16, 2017 1:43pm
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
Risk 2.5% http://www.noafx.com/forex-calculator.php
  • #74,762
  • Jan 16, 2017 1:45pm Jan 16, 2017 1:45pm
Quoting brian661
Hi Emmanuel, Which books will you suggest for a half an year newbie trader to read? And I saw someone or you have shared a book about money management, but I cannot find the post back.. Thanks in advance.
Here you are all the suggested books added to Amazon public wish list

http://a.co/83PD0YT
Fenix Capital Mgmt Return This Month: na
  • #74,763
  • Jan 16, 2017 6:22pm Jan 16, 2017 6:22pm
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

before we talk about Money Management strategy, what is your financial objective(s) in trading spot forex as a business?

the reason we must ask ourselves is that our financial objectives must be SMART.
I know of many newbie and rookie traders started out with the dream of making one $1 million from very small trading capital like $5K and wanted to turn $5K into one $1 million in 4 to 5 years. Is this a SMART objective?

Ask yourself this, if your annual income is $50,000 per annum.
Is 20% return per annum based on a trading capital of $50,000 a SMART objective?
What about 10% returns per month averaged over 36 months as SMART objective?
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #74,764
  • Edited 7:54pm Jan 16, 2017 7:43pm | Edited 7:54pm
Even 3% for month will be fantastic through the year for me. That is 36% per annum.
Any TMS traders achieved this last couple of years ? I like to hear your success story.
I am still working on it.
  • #74,765
  • Jan 16, 2017 8:40pm Jan 16, 2017 8:40pm
Quoting inforserve
Even 3% for month will be fantastic through the year for me. That is 36% per annum. Any TMS traders achieved this last couple of years ? I like to hear your success story. I am still working on it.

what do you lack ?

what are you doing when you say you are working on it?
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #74,766
  • Jan 17, 2017 3:18am Jan 17, 2017 3:18am
What is smart objective, I've this word used by yourself over the last few months but you've never explained what it means
Quoting emmanuel7788
{quote} before we talk about Money Management strategy, what is your financial objective(s) in trading spot forex as a business? the reason we must ask ourselves is that our financial objectives must be SMART. I know of many newbie and rookie traders started out with the dream of making one $1 million from very small trading capital like $5K and wanted to turn $5K into one $1 million in 4 to 5 years. Is this a SMART objective? Ask yourself this, if your annual income is $50,000 per annum. Is 20% return per annum based on a trading capital of $50,000...
  • #74,767
  • Jan 17, 2017 5:10am Jan 17, 2017 5:10am
Quoting TheRock
What is smart objective, I've this word used by yourself over the last few months but you've never explained what it means {quote}
Smart target is :

Specific

Measurable

achievable

Realistic

Time based.

Smart target.
It's in fear when people show what they truly value.
  • #74,768
  • Jan 17, 2017 5:20am Jan 17, 2017 5:20am
AUDNZD D1 chart Jan 17:

Do you jump in and sell before today d1 candle closes?

What are the risks?

Attached Image (click to enlarge)
Click to Enlarge Name: AUDNZD Week 03 Jan 17 D1.png Size: 48 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #74,769
  • Jan 17, 2017 5:26am Jan 17, 2017 5:26am
If you see a weaker currency pair like CAD and a stronger one like JPY, AUD, NZD,...

you look to buy AUDCAD and NZDCAD and do not sell AUDJPY and NZDJPY....better sell CADJPY, USDJPY
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #74,770
  • Jan 17, 2017 5:28am Jan 17, 2017 5:28am
Quoting TheRock
What is smart objective, I've this word used by yourself over the last few months but you've never explained what it means {quote}

well use the FF forum keyword search like below,
you will find 171 results and read each of the posts listed.

Attached Image (click to enlarge)
Click to Enlarge Name: FF search SMART keyword.png Size: 66 KB


this is what everyone who do not read this forum on regular basis should do.

this way, you will not catch up with my posts much easier by doing topic search and read.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #74,771
  • Jan 17, 2017 5:36am Jan 17, 2017 5:36am
EURGBP Week 03 D1 Jan 17.

I know many traders are shorting EG thinking of the weekend gap to be filled.

Attached Image (click to enlarge)
Click to Enlarge Name: EURGBP Week 03 Jan 17 D1 chart.png Size: 50 KB


A TMS traders, we do not sell until we see selling.

Attached Image (click to enlarge)
Click to Enlarge Name: EURGBP Week 03 Jan 17 D1 HA chart.png Size: 51 KB


Wait until British PM deliver her Brexit speech today then we shall see what happens. No point guessing that GBP will strengthen so soon and EG will dropped to 0.8500 level. Its pure speculation and we do not know what the smart money will do.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #74,772
  • Jan 17, 2017 5:39am Jan 17, 2017 5:39am
according to 5 method is it valid setup at starting of second candle?i m asking this question because here is condition that green line is above red line at first green candle and it is not possible to enter at starting of first the green candle because at beginning of the green candle is very small and there is no cross.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot (16).png Size: 125 KB
  • #74,773
  • Jan 17, 2017 5:45am Jan 17, 2017 5:45am
Quoting emmanuel7788
{quote} before we talk about Money Management strategy, what is your financial objective(s) in trading spot forex as a business? the reason we must ask ourselves is that our financial objectives must be SMART. I know of many newbie and rookie traders started out with the dream of making one $1 million from very small trading capital like $5K and wanted to turn $5K into one $1 million in 4 to 5 years. Is this a SMART objective? Ask yourself this, if your annual income is $50,000 per annum. Is 20% return per annum based on a trading capital of $50,000...
Hello Emmanuel

Mine is at least 6% returns per month,averaged over 12 months; reinvesting profits. Having 10K initial capital, after a year it's about 10k profits.

Regards,
Fenix Capital Mgmt Return This Month: na
  • #74,774
  • Jan 17, 2017 5:47am Jan 17, 2017 5:47am
Quoting dharmikpatel
according to 5 method is it valid setup at starting of second candle?i m asking this question because here is condition that green line is above red line at first green candle and it is not possible to enter at starting of first the green candle because at beginning of the green candle is very small and there is no cross. {image}
5-Method SETUP candle:

Attached Image (click to enlarge)
Click to Enlarge Name: TMS 5-Method setup candle.png Size: 45 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #74,775
  • Jan 17, 2017 5:57am Jan 17, 2017 5:57am
Quoting MrAussieFX
{quote} {quote} I've been using Guppy, DOTS, Synergy and TMS all combined for little some time and I was amazed that someone pointed out DOTS here, I might have missed the initial post mentioning DOTS. However, All I can say is that DOTS with TMS is an Unbeatable TMS System. But 1. You have to be patience with the trades you take 2. TDI crosses you take Why use DOTS with TMS ? You don't have to clutter your chart with one more indicator but this will help you 1. Making a habit of trading away from Daily Open (Which every senior on TMS including...
can you let me know if TMS is the same as the TDI?
  • #74,776
  • Jan 17, 2017 6:16am Jan 17, 2017 6:16am
Quoting emmanuel7788
AUDNZD D1 chart Jan 17: Do you jump in and sell before today d1 candle closes? What are the risks? AUDNZD Week 03 Jan 17 D1.png;2143388 {image}
Wait to close below 5EMA. PA is making HH
Fenix Capital Mgmt Return This Month: na
  • #74,777
  • Jan 17, 2017 6:26am Jan 17, 2017 6:26am
an hour ago I have entered Long on EUR/AUD
SL: 25 pips
TP: 50 pips

will see how does it play out
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot 2017-01-17 23.20.33.png Size: 26 KB
  • #74,778
  • Jan 17, 2017 6:56am Jan 17, 2017 6:56am
Quoting emmanuel7788
If you see a weaker currency pair like CAD and a stronger one like JPY, AUD, NZD,... you look to buy AUDCAD and NZDCAD and do not sell AUDJPY and NZDJPY....better sell CADJPY, USDJPY
Is this a good site to check is the currency strong or weak?
http://finviz.com/forex_performance.ashx
  • #74,779
  • Edited 7:34am Jan 17, 2017 7:23am | Edited 7:34am
Quoting emmanuel7788
EURGBP Week 03 D1 Jan 17. I know many traders are shorting EG thinking of the weekend gap to be filled. EURGBP Week 03 Jan 17 D1 chart.png;2143418 A TMS traders, we do not sell until we see selling. EURGBP Week 03 Jan 17 D1 HA chart.png;2143419 Wait until British PM deliver her Brexit speech today then we shall see what happens. No point guessing that GBP will strengthen so soon and EG will dropped to 0.8500 level. Its pure speculation and we do not know what the smart money will do. {image} {image}
I shorted EG and longed GU not because of the weekend gap though. It was a typical big money move, the week opened by taking out what would have been a lot of stops below 1.20 and did not go any further lower, there was a very high probability the big money was positioning for a move up and when GBP moves she likes to move fast I did not though unfortunately hang on for the entire move but enough for me.

Also, dare I say, they both ended up at the 61% level at the beginning of the week, EG at R61 and GU at S61.
Success means going from failure to failure without loss of enthusiasm
  • #74,780
  • Jan 17, 2017 7:25am Jan 17, 2017 7:25am
AUDJPY ... I should wait for the H4 to close but the H1 gives me confidence to start a small long...
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 100 KB
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot2.png Size: 100 KB
All for one and one for all
52 traders viewing now, 1 is registered:
NovemberMan