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Trading Made Simple

  • #75,681
  • Feb 8, 2017 5:49pm Feb 8, 2017 5:49pm
Quoting Pretoriano
{quote} Emmanuel,can u explain this method about Tokyo first 5 hours? Do u follow Daily,h4 and enter on H1 when price,on the 6th hour,broke high or low of first 5 Tokyo hours? It works always and with London and New York too? 6th candle must be close or not? What type of Atr do u use for SL/TP? Thanks

TOK_5H see this post#34,808 and pdf..

it is just a way to look for H1 intraday trades other than H4 and D1 charts trading.

there is also SYD_2H for Asian hours very short term traders.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #75,682
  • Feb 8, 2017 6:54pm Feb 8, 2017 6:54pm
SYD-2H trade example with AUDUSD


Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD SYD-2H AU trade example Feb 9.png Size: 50 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #75,683
  • Feb 8, 2017 7:05pm Feb 8, 2017 7:05pm
Quoting emmanuel7788
{quote} you follow the weekly and daily, that's good. there is old resistance 119.66 which is support now seen on D1. but H4 candles are small and its price momentum is rising ... see the Red line vs the Green line H4 stop loss should be at 120.25 at the time of your trade entry candle, giving it enough room to breathe. you can use the previous 2 days candle high but this would be more pips R and you H4 position size would be mush smaller if you use 120.25 my sell TP is around 118.75 near an old support
Thanks Emmanuel,I haven't understood following things:

1) I understand the place where I had to put my SL but last day you told me to use Atr 10 on H4 charts. Where is correct point?

2) I can't see old resistance 199.66,where is it?

3) Before my entry candle,there are two big candles. I can't see small candles

4) My position size is calculated in this way: 2% of my account ( 20) : number of pips from ATR 10 = 20:33 pips = 0.07 lots. Isn't correct?

5) TP 118.75 old support do u mean this in the chart under?

Attached Image (click to enlarge)
Click to Enlarge Name: Old support.png Size: 40 KB


Thanks for all your help and sorry for all my questions every time. I do many questions because I need many answer from a professional PA trader as you.
Mi odino pure, purche' mi temano. (Gaio Cesare Germanico Caligola)
  • #75,684
  • Feb 8, 2017 7:44pm Feb 8, 2017 7:44pm
Quoting Pretoriano
{quote} Thanks Emmanuel,I haven't understood following things: 1) I understand the place where I had to put my SL but last day you told me to use Atr 10 on H4 charts. Where is correct point? 2) I can't see old resistance 199.66,where is it? 3) Before my entry candle,there are two big candles. I can't see small candles 4) My position size is calculated in this way: 2% of my account ( 20) : number of pips from ATR 10 = 20:33 pips = 0.07 lots. Isn't correct? 5) TP 118.75 old support do u mean this in the chart under? Old support.png;2179273 Thanks...

1) ATR(10) on H4 chart at the time of your entry was 38pips. use 2xATr(10)=76pips

2) see chart below.

3) increase the size of your chart and you will see the candle size better.

4) position sizing, you need to know the pips $value for JPY pairs.
http://www.babypips.com/tools/forex-...sitionsize.php

5) see chart below


Attached Image (click to enlarge)
Click to Enlarge Name: EURJPY support and resistance.png Size: 49 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #75,685
  • Feb 9, 2017 12:10am Feb 9, 2017 12:10am
"You have nothing original of your own" - An author perception of how he see a person.
"use only 2% of account" - An author perception of how he understand money management.

http://www.forexfactory.com/showthre...34#post4580234
http://www.forexfactory.com/showthre...22#post3306122
Members do read those post.

Money Management, Price Action, Candle Patterns and other words
Do not believe everything what person tell you about them.
Books, Webpage, pdf, ebook's, forums
- It is the author perception of how they management their money or how they understand or trade the market or analyse a chart.

Information overload

Money Management:
Google search: About 85 900 000 results
Start with the famous "use only 2% of account"
read: http://www.learntotradethemarket.com...anagement-rule
Price Action
Google search: About 56 300 000 results
Candle Patterns
Google search: About 944 000 results

Who is right and Who is wrong.
The market will judge and judgement is fast and brutal. Right or Wrong.
Right - The market reward you with pips.
Wrong - The market take your hard earned money.
When a person use words like: if, should, could, maybe, but ea: words that convey a choice between two path's.
That person is leaving a escape route open when trading goes wrong. "I said should not that you must do it"
Walk away, You are being mislead, for those type of words show that person is unsure about self or what he /she is telling you to do.

BigE gave you Trading Made Simple.
He gave you entry and exit rules.
Post's like #647 / #1716 of BigE has great value.
It is what you do with that value that counts. Not the perception of a other person.
Start to study BigE's post's (BigE full,pdf)
Do not know how to study a subject then google for a method on how to study.

Study the tools that are in use.
- How they work. Why they do, What they do, When they do, Where they do.
- MetaTrade - MT4 platform
- TDI - Traders Dynamic Index indicator
- Stochastics
- Heiken Ashi
- 5EMA

You want something, you work for it. No person is going to trade for you.
Keep it simple.

Note: paperclip to right of webpage, use it.
  • #75,686
  • Feb 9, 2017 12:50am Feb 9, 2017 12:50am
Hello Emmanuel,

done yesterday first BPP for several pairs, as example EURJPY:

- first on the monthly line chart I've plottet several lines on important swing points

Attached Image (click to enlarge)
Click to Enlarge Name: EURJPY Line.JPG Size: 142 KB


- second I checked up on candle chart if the swing points are really important and visible

Attached Image (click to enlarge)
Click to Enlarge Name: EURJPY-Bar.JPG Size: 156 KB


- third at daily chart check for free room, I'm waiting that price will go some south, then retrace , build a position and then the run will start south around 115.35 / 113.84

Attached Image (click to enlarge)
Click to Enlarge Name: EURJPY Daily.JPG Size: 123 KB


excuse me for my worst english

regards

Thorsten
  • #75,687
  • Feb 9, 2017 1:27am Feb 9, 2017 1:27am
Trading Made Simple - Live Trading Room

I have a few PMs suggesting that I start a new forum thread for live trading, sharing of weekly and daily trade plans, trade ideas, trade signals, etc.

Please let me know what you think and which FF forum is appropriate for this live trading room.

My preference order:
- Member's Lounge
- Interactive Trading
- Trading Discussion

Let me know and I will decide based on the number of feedback.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #75,688
  • Feb 9, 2017 1:31am Feb 9, 2017 1:31am
Great Idea, I am looking forward
  • #75,689
  • Feb 9, 2017 1:35am Feb 9, 2017 1:35am
Quoting emmanuel7788
{quote} XAUUSD Gold rush today did better than 1231 where the herd love. next 1238 very closeby. look for big candle that close across this 1238 level.

XAUUSD

yesterday we hit target 1238 after a short pause on Tuesday and close 1241. Now where shall be our next target?
Anyone with a Big Picture Plan?
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #75,690
  • Feb 9, 2017 1:36am Feb 9, 2017 1:36am
Quoting blueman
Great Idea, I am looking forward
but which forum?
I like Member's Lounge ... so we have only FF members.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #75,691
  • Feb 9, 2017 1:53am Feb 9, 2017 1:53am
AUDUSD Feb 9

we have a potential for a D1 IB breakout trade...
but be warn that you are trading in the range of that D1 big candle WRB. /Master Candle.

this morning's SYD_2H entry was good.
http://www.forexfactory.com/showthre...72#post9541772
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #75,692
  • Feb 9, 2017 1:59am Feb 9, 2017 1:59am
Quoting emmanuel7788
{quote} XAUUSD yesterday we hit target 1238 after a short pause on Tuesday and close 1241. Now where shall be our next target? Anyone with a Big Picture Plan?
Hi Emmanuel,

My BPP shows the next target is at 1249. You were right to mention that the candle closing across 1238 level was a big one.

Hope to see your comments,

okoso
Attached Image (click to enlarge)
Click to Enlarge Name: XAUUSDDaily09.02.17.png Size: 42 KB
  • #75,693
  • Feb 9, 2017 2:04am Feb 9, 2017 2:04am
Quoting emmanuel7788
Trading Made Simple - Live Trading Room I have a few PMs suggesting that I start a new forum thread for live trading, sharing of weekly and daily trade plans, trade ideas, trade signals, etc. Please let me know what you think and which FF forum is appropriate for this live trading room. My preference order: - Member's Lounge - Interactive Trading - Trading Discussion Let me know and I will decide based on the number of feedback.
Hi Emmanuel,

Thanks for the great idea. Honestly, I do not know what is the difference in between 3 places, but if Member's Lounge is only for members I think this is a better place for sure.

Okoso
  • #75,694
  • Feb 9, 2017 2:05am Feb 9, 2017 2:05am
Quoting okoso
{quote} Hi Emmanuel, My BPP shows the next target is at 1249. You were right to mention that the candle closing across 1238 level was a big one. Hope to see your comments, okoso {image}
Most D1 candles close across the MN price swing levels.
Is this prediction or what? When you trade the stock market for 30 years, you learn how to trade the Line Charts in multi-timeframes.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #75,695
  • Feb 9, 2017 2:13am Feb 9, 2017 2:13am
Quoting emmanuel7788
Trading Made Simple - Live Trading Room I have a few PMs suggesting that I start a new forum thread for live trading, sharing of weekly and daily trade plans, trade ideas, trade signals, etc. Please let me know what you think and which FF forum is appropriate for this live trading room. My preference order: - Member's Lounge - Interactive Trading - Trading Discussion Let me know and I will decide based on the number of feedback.
I would be interested and willing to contribute.

I think FF members only.

Thanks

Adam
  • #75,696
  • Feb 9, 2017 2:13am Feb 9, 2017 2:13am
Quoting emmanuel7788
Trading Made Simple - Live Trading Room I have a few PMs suggesting that I start a new forum thread for live trading, sharing of weekly and daily trade plans, trade ideas, trade signals, etc. Please let me know what you think and which FF forum is appropriate for this live trading room. My preference order: - Member's Lounge - Interactive Trading - Trading Discussion Let me know and I will decide based on the number of feedback.
Member's Lounge
  • #75,697
  • Feb 9, 2017 2:17am Feb 9, 2017 2:17am
Quoting emmanuel7788
Trading Made Simple - Live Trading Room I have a few PMs suggesting that I start a new forum thread for live trading, sharing of weekly and daily trade plans, trade ideas, trade signals, etc. Please let me know what you think and which FF forum is appropriate for this live trading room. My preference order: - Member's Lounge - Interactive Trading - Trading Discussion Let me know and I will decide based on the number of feedback.
sounds like a good idea.. but what about a modern app like discord or something like that?
It's in fear when people show what they truly value.
  • #75,698
  • Feb 9, 2017 2:39am Feb 9, 2017 2:39am
Quoting emmanuel7788
{quote} are you looking at D1 chart? please post your chart. this would be easier for anyone here to see.
Sorry, couldnīt post the chart,since i am in office, not home. trade made nice 100 pips move. I am still holding, since there is potential to make another 100 pips . Just check time i posted that i entered, and you will see.
  • #75,699
  • Feb 9, 2017 2:41am Feb 9, 2017 2:41am
Quoting emmanuel7788
Trading Made Simple - Live Trading Room I have a few PMs suggesting that I start a new forum thread for live trading, sharing of weekly and daily trade plans, trade ideas, trade signals, etc. Please let me know what you think and which FF forum is appropriate for this live trading room. My preference order: - Member's Lounge - Interactive Trading - Trading Discussion Let me know and I will decide based on the number of feedback.
Good Day Emmanuel,

With the start of new year I got so busy in my day job related tasks and not able to give proper time to TMS

My vote for Memebrs Lounge and FF members.

Best Regards
  • #75,700
  • Feb 9, 2017 3:03am Feb 9, 2017 3:03am
but which forum?
I like Member's Lounge ... so we have only FF members.

Members lounge looks like a good solution, what about also a skype group?

Thanks, happy day
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