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Trading Made Simple

  • #75,601
  • Feb 7, 2017 12:14am Feb 7, 2017 12:14am
Quoting emmanuel7788
{quote} London session opening soon. we shall see whether there will be more buyers to move this and breaking the resistance. UsdChf H4 smartkenya Feb 7.png;2175762 I favour buy with SL at 0.9905 {image}

one broken one more to go
  • #75,602
  • Feb 7, 2017 12:31am Feb 7, 2017 12:31am
Keep it simple. Trade the way BigE has laid it out.
All you need to trade this method is what BigE have given you in his blue post's.
You do not need anything else to be successful.
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  • #75,603
  • Feb 7, 2017 12:31am Feb 7, 2017 12:31am
Fresh out of the oven:
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  • #75,604
  • Feb 7, 2017 12:35am Feb 7, 2017 12:35am
Quoting Tekkies
And the Deception continue. Keep it simple. Trade the way BigE has laid it out. All you need to trade this method is what BigE have given you in his blue post's. You do not need anything else to be successful. XM MT4.png;2175847 {image}
that was a nice entry on GJ. well done
  • #75,605
  • Feb 7, 2017 12:36am Feb 7, 2017 12:36am
Quoting catalin_eros
Fresh out of the oven: {image}
I like your profit targets
  • #75,606
  • Feb 7, 2017 12:40am Feb 7, 2017 12:40am
I was just wondering what method people follow when taking profit

I am currently up 112 pips on a EUR/USD trade with no sign of the trend stopping, I guess the question is when to maximise the profit
  • #75,607
  • Feb 7, 2017 12:45am Feb 7, 2017 12:45am
morning.

Does this count as UJ break below last months low?
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what could be a target to stay short?
  • #75,608
  • Feb 7, 2017 12:49am Feb 7, 2017 12:49am
Quoting kilns
I was just wondering what method people follow when taking profit I am currently up 112 pips on a EUR/USD trade with no sign of the trend stopping, I guess the question is when to maximise the profit
that is the part that is not simple at all

I would look to lock some of the profit and keep an eye for previous lows
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I usually do it like that, although emmanuel has posted a lot of different methods you can use to manage your trades
  • #75,609
  • Feb 7, 2017 12:58am Feb 7, 2017 12:58am
Quoting emmanuel7788
{quote} Hi, you can trade simple like Big E how he would later add lots to his trades using his 5-Method. You only need to know where you place your Stop Loss when you follow his add lot to his trades. He did mention use the previous 2 candles high ( for sell) or low (for buy) . He did not show any chart with examples. But when you use the 5EMA Typical Price, Shift+3 as the Buy or Sell direction like he did, then to jump into the market direction is a matter of when and where you time your entry, know your initial Stop Loss which is your Risk ......
The take Profit lines. Is that an indicator?. If yes, can you please share. thanks
  • #75,610
  • Feb 7, 2017 1:03am Feb 7, 2017 1:03am
Quoting bistolis
{quote} I like your profit targets
Thanks, buddy! My initial target was lower, but since the PA has already reached its ADR for the day, I am expecting a retrace. I will have time to re-enter when/if it resumes the downward movement.
  • #75,611
  • Feb 7, 2017 1:07am Feb 7, 2017 1:07am
Quoting Tekkies
Keep it simple. Trade the way BigE has laid it out. All you need to trade this method is what BigE have given you in his blue post's. You do not need anything else to be successful. XM MT4.png;2175847 {image}
Very nice!
Still, Big E said he was not fond of taking sells near the 32, and buys near the 68. I am glad that GJ worked out nicely.
  • #75,612
  • Feb 7, 2017 2:22am Feb 7, 2017 2:22am
Emmanuel, If i want enter on H4 must i look daily and weekly or daily only? If weekly is sideways is possible that daily is on trend and can i find a trade on h4?

Do u use Ema10 on all timeframe for trend but Ema5 shift+3 for chart trading?

Can u explain about Atr stop loss? If i enter on h4 what type of Atr should I use? I always use last high/low of last candle before the "entry candle". Atr 100% is always just on this point

Thanks for your help as always.
Mi odino pure, purche' mi temano. (Gaio Cesare Germanico Caligola)
  • #75,613
  • Feb 7, 2017 3:05am Feb 7, 2017 3:05am
Quoting bistolis
{quote} that is the part that is not simple at all I would look to lock some of the profit and keep an eye for previous lows Image1.png;2175902 I usually do it like that, although emmanuel has posted a lot of different methods you can use to manage your trades {image}
bistolis
BigE have only posted 3 rules.
Watch TDI green to manage your profit.
When green goes:
a. Goes flat
b. Starts to hook over
c. Makes a check mark reversal

He did not like to use Stop Loss (SL) or Take Profit (TP)
If the trader feel the need to use them he said where to place them.
Why not when in profit activate a trailer stop and let the trade runs it due course.
Place a hard stop loss on the broker's server in case of internet connection is lost.

Keep it simple.
  • #75,614
  • Feb 7, 2017 3:29am Feb 7, 2017 3:29am
it is such a shame that people are not keeping up with learning how to trade the market since 2011 after Big E died.

we have another reason why 95% of traders here will lose money.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #75,615
  • Edited 4:15am Feb 7, 2017 3:37am | Edited 4:15am
Quoting bistolis
{quote} that is the part that is not simple at all I would look to lock some of the profit and keep an eye for previous lows Image1.png;2175902 I usually do it like that, although emmanuel has posted a lot of different methods you can use to manage your trades {image}

sorry, I did not post a lot of different methods. I only shared one tested and proven method taught by Dr Van Tharp. That is the R and R-Multiple method in trade management.

The other so called methods were shared by other members using THV CaveManager a trade manager expert advisor EA . That EA has several trade management and capital protection features which I used and they were tested and useful when trader do not want to monitor their trades and let that EA do it job.

It is pity that Big E during his time back in 2010 did not know this very good working EA. He died not knowing many nice trading tools have developed after his time.
After he died, EA were develop to trade his 5-Method and also the Synergy trading model. One is working nicely and I have seen members posted their winning trades using that EA. That EA is not 100% winners, but on H4 and D1 chart, the win rate is above 60% when traders know how to intervene manually.

below example of EU taken by the SynergyEA.

Attached Image
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #75,616
  • Feb 7, 2017 3:43am Feb 7, 2017 3:43am
Quoting kilns
I was just wondering what method people follow when taking profit I am currently up 112 pips on a EUR/USD trade with no sign of the trend stopping, I guess the question is when to maximise the profit

you did not mention the timeframe chart you took your trade.

if you trade H1, get out before NY open.

if you trade H4, use THV CaveManager feature "Trail by Prev Candle High/Low". This is best when there is strong move like today and you will be stooped out when market consolidates with small candles. Do not use the trailing stop in MT4, you will be stopped out very easily and the market will run without you.

The TDI goes flat, hook back and check mark, ... is the worst exit method I know here after 10 years of trading with the RSI. It is meant for people like Big E trading with big lots risking 15% to 30% of his $10,000 trading account and trading with 2 to 4 standard lots at $10 per pip in 2010. It is fast in fast out to protect his account.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #75,617
  • Feb 7, 2017 3:49am Feb 7, 2017 3:49am
Quoting nanacarter
{quote} The take Profit lines. Is that an indicator?. If yes, can you please share. thanks

I don't add any indicator - just the RSI or TDI in one sub-window is one too many for me being a Price Action trader.

I use scripts to draw those Buy / Sell lines for SL and TPs.

You will find those scripts in the attachments under my profile.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #75,618
  • Feb 7, 2017 3:58am Feb 7, 2017 3:58am
Quoting catalin_eros
{quote} Very nice! Still, Big E said he was not fond of taking sells near the 32, and buys near the 68. I am glad that GJ worked out nicely.
@catalin-eros,

You did not read all of Big E' posts. Better go back and start reading all over again.
He did not say you cannot therefore I conclude that it can be done.
He did not say a lot of things which will make traders successful, after all he only made 1485 posts in FF. There are at least another 6,000 posts missing.
Also, he only traded H1 during the NY session, otherwise he only trade H4.
Does all these really matter today , more than 5 years since he died.
The 5-Method remains the same today, in 10 years and in 20 years, it will still be the same.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #75,619
  • Feb 7, 2017 4:01am Feb 7, 2017 4:01am
Quoting Pretoriano
Emmanuel, If i want enter on H4 must i look daily and weekly or daily only? If weekly is sideways is possible that daily is on trend and can i find a trade on h4? Do u use Ema10 on all timeframe for trend but Ema5 shift+3 for chart trading? Can u explain about Atr stop loss? If i enter on h4 what type of Atr should I use? I always use last high/low of last candle before the "entry candle". Atr 100% is always just on this point Thanks for your help as always.

Questions 1 and 2 I already answered today.

Q3. on ATR
I use ATR 10 period on the H4 timeframe. This is after the reversal and a new trend is confirmed. If you trade the reversal entry, then place your SL at the last swing high/swing low.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #75,620
  • Edited 6:00am Feb 7, 2017 5:50am | Edited 6:00am
Quoting catalin_eros
{quote} Very nice! Still, Big E said he was not fond of taking sells near the 32, and buys near the 68. I am glad that GJ worked out nicely.
catalin_eros
Yes he was not fond of takeing trades close to 32 / 68.
He has however stated that trade taken so far below can move into 100 pip's profit. The trade has to be babysit and closely monitored.
Have attacehed 3 chart to show the trades closed
M5 is to detail the trade.
H1 is to show way the trades are closed.
D1 is to show the beginning of a new order. The resistance is holding the trade back.
Already in profit. Close at now or see if resistance is going to be broken.
The Weekly chart show TDI green + stoch flat. Means the trend has lost momentum.

Catalin the chart's you post are terrific. Keep doing what you do. In the end of the day the market show you who is right or wrong
For me I trade the charts the way BigE has laid it out.
Keep it simple.
http://www.forexfactory.com/showthre...91#post8673591

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