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Trading Made Simple

  • #76,741
  • Mar 7, 2017 5:56pm Mar 7, 2017 5:56pm
Quoting inforserve
{quote} Hi Emmanuel Last year you said you will not trading at H1 TF if I remember correctly. But you seems like trading H1 TF now. What change your mind ? Just curious.. I tried couples of time last year since it give more opportunity but not much success.
well, simple answer is my time availability. When I back home, I do not have the time to trade intraday. I have other things in life to look after.

These few weeks I am away from home and have time with a few traders in Singapore after attending a workshop in week 08.
we trade live market since last week and this week. most of the traders here wants to make money fast and trade in the fast lane.
so we trade intraday H1 last week and this week. A few F1 traders here are trading M15 and M5, mostly scalpers.
last week we made some money which I posted last weekend.

yesterday we made some and a few BE and loss trades.
I post them later when I find time.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #76,742
  • Mar 7, 2017 6:03pm Mar 7, 2017 6:03pm
EURUSD Week 10, Mar 8:
I look to sell, sell, sell.
But always have a Stop Loss in mind.

remember Basic Rule:

Every trade must have 1 Entry and 2 Exits
1st Exit is your initial Stop Loss (worst case scenario).
2nd Exit is your final Take Profit ( your planning).

You can do many trades, but you must follow this same Basic Rule.

How much do you want to risk per trade? 0.2% or 1%, 2%, 3% or 15% or 30%.

Stay tuned for the post of this week.

.../more
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #76,743
  • Mar 7, 2017 6:10pm Mar 7, 2017 6:10pm
Quoting Alex1055
{quote} Hello Emmanuel I want to ask you about your Money management,Risk Management in % of total balance,per pair trading and so on......... .I think,that is far important than any exits,entrys,systems ...........whatever. Thanks for answers, Alex

Hi Alex,

I will reply your questions later this week. hang on for a while more.
This morning I am meeting a group of traders for a 'walk' in this place Gardens by the Bay here in Singapore.

The 'walk' is for traders is one or several exercises for traders who aspire to become super traders one day.
Every trader needs to go through a phase of transformation before he/she can reach peak performance.



trade well,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #76,744
  • Mar 7, 2017 10:07pm Mar 7, 2017 10:07pm
Seems XXX/JPY pairs will move down.
Vtayha7788 has suspended me and Twee is missing!!!
  • #76,745
  • Mar 7, 2017 10:34pm Mar 7, 2017 10:34pm
Quoting RondaRousey
{quote} what a strategy to make more pips just chop up lots in micro lots. if you cannot make even 1 pip how are you going to make any money? Guys don't listen to him. Focus on making heaps of pips and money will come. It always does. it is the amount of money that matters more- what rubbish. so start off with $10 million and then see it shrink to $1? start off with $1 and turn it into $10 million now that is skill. People can continue to deceive you by all sorts of marketing slogans like - cut losses short, let profits run, keep it simple,...

Hey RondaRousey

I just gave a thumbs up to your post and you have 2 thumbs up now.

I think you have missed the context of my post and its intent. Therefore, my thumbs up is reminder that I have to reply your post and correct the perception some people may draw for that post alone. I am busy this week and will find time later to post a reply.

Reading the some recent new threads, I came to know that you are a vocal critic and prolific writer here in Forex Factory.

Honesty is indeed a very expensive gift and we all must live up to this belief.

Good luck.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #76,746
  • Mar 7, 2017 10:40pm Mar 7, 2017 10:40pm
Quoting Mt7
Seems XXX/JPY pairs will move down.

Not all the JPY pairs, when you trade intraday.
Look at how it traded in the morning session of Tokyo market.
If you are looking for 50 to 100 pips, then pick the pair carefully.
Otherwise stick to TP1 20 pips scale-out and trail the price bar by bar until you get stopped out by small bar/candle.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #76,747
  • Mar 7, 2017 10:52pm Mar 7, 2017 10:52pm
USDJPY Mar 8 H1 Intraday

Japan GDP look better than the previous, so JPY got stronger but not great.

Missed the last H4 candle close.
Was out walking exercise in that beautiful Gardens by the Bay. Fantastic man made design and build garden. Amazing how that was build and those giant trees remind me of the movie Avatar. Seeing a 100 years old Olive tree growing in there is another to good to be true, how they manage to transplant that Olive tree from middle east and grow it here is such good controlled environment.
Outside is humid and hot 31º C.
I am glad to be back in the cool 23ºC indoor now.

Attached Image (click to enlarge)
Click to Enlarge Name: USDJPY Mar 8 H4 and H1.png Size: 46 KB


Now waiting on H1 for a possible trade.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #76,748
  • Mar 8, 2017 12:11am Mar 8, 2017 12:11am
As a newbie, which currency pair will you recommend for me to trade? Thanks
  • #76,749
  • Mar 8, 2017 12:17am Mar 8, 2017 12:17am
Quoting bistolis
{quote} {image} the rest should be easy to setup on your tradingview chart
Hi Bistolis
Thanks for the reply. I managed to get TDI, but struggling with APB. I'm using Heikin Ashi, but it's not the same. Any suggestions?

Thanks
  • #76,750
  • Mar 8, 2017 12:29am Mar 8, 2017 12:29am
Quoting emmanuel7788
{quote} Hey RondaRousey I just gave a thumbs up to your post and you have 2 thumbs up now. I think you have missed the context of my post and its intent. Therefore, my thumbs up is reminder that I have to reply your post and correct the perception some people may draw for that post alone. I am busy this week and will find time later to post a reply. Reading the some recent new threads, I came to know that you are a vocal critic and prolific writer here in Forex Factory. Honesty is indeed a very expensive gift and we all must...
Unlucky you. You didn't get to read his deleted posts.

At least I was smart enough to quote it all and replied.
  • #76,751
  • Mar 8, 2017 12:31am Mar 8, 2017 12:31am
Quoting nanacarter
As a newbie, which currency pair will you recommend for me to trade? Thanks
I will avoid high volatility pairs like G/J ,E/N, G/A and start with major pairs (E/U, G/U, U/J)
  • #76,752
  • Mar 8, 2017 12:33am Mar 8, 2017 12:33am
Quoting RondaRousey
{quote} what a strategy to make more pips just chop up lots in micro lots. if you cannot make even 1 pip how are you going to make any money? Guys don't listen to him. Focus on making heaps of pips and money will come. It always does. it is the amount of money that matters more- what rubbish. so start off with $10 million and then see it shrink to $1? start off with $1 and turn it into $10 million now that is skill. People can continue to deceive you by all sorts of marketing slogans like - cut losses short, let profits run, keep it simple,...
Not to say that you are wrong but he is not wrong either. You don't really need 100pips to make 10%. I know for a fact some traders make 10% for every 20-30 pips they make.
  • #76,753
  • Mar 8, 2017 12:38am Mar 8, 2017 12:38am
Quoting nanacarter
As a newbie, which currency pair will you recommend for me to trade? Thanks

Trade any of those Big E's 8 pairs - AU, EU,GU,UCad, UChf, EJ, GJ, UJ.

You don't have to trade all 8 pairs, but if you look at 8 pairs, there will be enough H4 trades in any one week. for you to practice. If you want more practice, then look at more pairs. I started with 8 pairs then move to 16 pairs and this year I have 20 pairs. Maybe too many for less experienced traders.

Some traders believe in trading just one pair but I really don't know how many trades you do in one week and how profitable they are in terms of money and meet8ing their financial goal.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #76,754
  • Mar 8, 2017 12:38am Mar 8, 2017 12:38am
Quoting inforserve
{quote} I will avoid high volatility pairs like G/J ,E/N, G/A and start with major pairs (E/U, G/U, U/J)
Thanks very much
  • #76,755
  • Mar 8, 2017 1:12am Mar 8, 2017 1:12am
Quoting emmanuel7788
{quote} We do not need hundreds of pips to make 10% every 20-trading days. if I want to make hundreds and thousand of pips every month, it is very easy thing to do. Just chop up standard lots into fractional micro lots and report a many times more pips when trading micro lots accounts. it is the amount of money that matters more, not just the pip count. many people come to FF and get attracted to pips making. I remember what what Big E said when he moved from trading factional mini-lot to trading full standard lots. His money bank grew and grew....
That's exactly the statement I agree with .. The live market will teach you more then anyone could.. someone to guide your learning journey also helps.. some people keep doing the wrong things and getting slapped in the face with a trout by the market.
It's in fear when people show what they truly value.
  • #76,756
  • Mar 8, 2017 1:12am Mar 8, 2017 1:12am
Quoting emmanuel7788
{quote} Trade any of those Big E's 8 pairs - AU, EU,GU,UCad, UChf, EJ, GJ, UJ. You don't have to trade all 8 pairs, but if you look at 8 pairs, there will be enough H4 trades in any one week. for you to practice. If you want more practice, then look at more pairs. I started with 8 pairs then move to 16 pairs and this year I have 20 pairs. Maybe too many for less experienced traders. Some traders believe in trading just one pair but I really don't know how many trades you do in one week and how profitable they are in terms of money and meet8ing their...
thanks very much
  • #76,757
  • Mar 8, 2017 1:25am Mar 8, 2017 1:25am
Quoting emmanuel7788
{quote} Hey RondaRousey I just gave a thumbs up to your post and you have 2 thumbs up now. I think you have missed the context of my post and its intent. Therefore, my thumbs up is reminder that I have to reply your post and correct the perception some people may draw for that post alone. I am busy this week and will find time later to post a reply. Reading the some recent new threads, I came to know that you are a vocal critic and prolific writer here in Forex Factory. Honesty is indeed a very expensive gift and we all must live...
This is going to be good.
  • #76,758
  • Mar 8, 2017 1:37am Mar 8, 2017 1:37am
Mar 8 Frankfurt Open FO

Looking at the H1 FO, not many nice potetntial trades.
I see GBP weakens to selling GU, GJ, GA and GCad worth look at.
GN is fighting a weaker Kiwi. Stay out of this.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #76,759
  • Mar 8, 2017 1:53am Mar 8, 2017 1:53am
Quoting Tekkies
{quote} Frank0 1. Bistolis entry on the 5th bar and he paid for that mistake looking at his first chart posted. (edit: sorry farhad10 - using what you asked for) 2. Looking at the second chart posted where the trade entry's are clearly seen then a lot of fact's can be seen. a. Nothing wrong with that entry aside from that it is placed at the end of the 5th bar which is against the advice given in post#647 - green below 4h30 - red and green are far apart (look at red (BigE did not use or care what red does) - nice big candle going down - below 5EMA...
there is no 5ema on this chart. its just moving averages
  • #76,760
  • Mar 8, 2017 2:36am Mar 8, 2017 2:36am
Here is a good trade on all fronts, so thought I'd post as an example

EURAUD long

Fundamental: China trade balance HUGE miss today --> AUD bearish

Daily chart: broke TL up, retrace to test it, and heading up:
Attached Image (click to enlarge)
Click to Enlarge Name: EURAUDDaily.png Size: 142 KB


4 hr above weekly and monthly pivot consolidation, TDI and AO heading up:
Attached Image (click to enlarge)
Click to Enlarge Name: EURAUDH4.png Size: 130 KB


HA and TDI heading up from weekly down to 1 hr:
Attached Image (click to enlarge)
Click to Enlarge Name: EURAUDmulti.png Size: 197 KB


10 pip range bars above cloud, and AO +
Attached Image (click to enlarge)
Click to Enlarge Name: EURAUDM10.png Size: 181 KB


3 pip range bars above cloud and heading up:
Attached Image (click to enlarge)
Click to Enlarge Name: EURAUDM3.png Size: 194 KB


I already bought/sold for +30 pips, but after taking another look decided to enter small for a longer term swing position. First targer around 1.41.

EZ
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