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Trading Made Simple

  • #77,001
  • Mar 12, 2017 11:02pm Mar 12, 2017 11:02pm
T
Quoting emmanuel7788
{quote} You do not have to pick pairs that are over 100pips to trade if you know the pair's volatility and you trade using %Risk and Position Sizing. Look at EURGBP, small range pair but its $value per pip is the best in my 20 pairs watchlist. This information is important in my business plan and when I do my trade plan. It is about Risk:Reward ratio and Expectancy much more than just looking at the probability. But if traders only want to make lots of pips, there are other ways and other pairs. information website: https://www.mataf.net/en/forex/tools/volatility...

Thank you kind sir.

Can you please shed light on how it would help a certain pair if I'm already using SL on chart as risk? (For example last low if going long)

what am I looking for exactly? What numbers do I need to maintain?
  • #77,002
  • Mar 12, 2017 11:03pm Mar 12, 2017 11:03pm
Help Please

I am doing BigE Full PDF and need help please.

1.) What is PA when referring to charts or candles

Thank you in advance
True Grit!
  • #77,003
  • Mar 12, 2017 11:10pm Mar 12, 2017 11:10pm
Quoting hards
Help Please I am doing BigE Full PDF and need help please. 1.) What is PA when referring to charts or candles Thank you in advance
PA is Price Action,

What is the previous price action doing, big candles, small candles, price ranging/trending is the trend up or down that type of thing. It is a large topic that takes some time and practice to get a feel for it.
  • #77,004
  • Mar 12, 2017 11:34pm Mar 12, 2017 11:34pm
Quoting faatkumo
T{quote} Thank you kind sir. Can you please shed light on how it would help a certain pair if I'm already using SL on chart as risk? (For example last low if going long) what am I looking for exactly? What numbers do I need to maintain?

Post chart of a currency pair you look at and plan to trade today/this week.
I can explain better using live charts and not those after-the-event teaching method, hindsight teaching is like teach history lessons of the market.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #77,005
  • Mar 12, 2017 11:48pm Mar 12, 2017 11:48pm
Quoting cchua888
{quote} Bro Emmanuel7788, per you stated on the trade manager EA, care to share the trade manager EA? Thanks in advance, Richmond Chua
Trade Manager EA Expert Advisor

There are few good EA trade managers here in FF.

1) MPTM
2) THV CaveManager CM

I used the Multi Purpose Trade Manager MPTM by Steve Hopwood in 2009 for a few years.

his thread link:
https://www.forexfactory.com/showthread.php?t=89371

THV CaveManager CM by FF member caveman
his thread link:
Download the trade manager EA and pdf description from original thread / post by Caveman: Post# 18,455
Both the EA and pdf description are in Post#30,032
User guide by FF member Lookleft Post# 58,004

MPTM is a monster EA and requires time to learn and master. It has many features and can handle multiple trades on one same chart. Good for those who trade with multiple entries.

CM is simpler and also has many good features but it can only handle one trade entry on one same chart. You can scale-out your trade into 3 or more exits. Also the Capital Protection feature is excellent.

Good to try both MPTM and CM , and learn their features and use the one which support your trade management and exit strategy.

For those who are mql4 programmers, you will like MPTM and can learn a lot from SteveHopwood' programming structure and logic.

But if you want something simple, then CM will be the one.

If you are like Big E who did not like to monitor his charts when trading, then use a trade manager.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #77,006
  • Mar 12, 2017 11:55pm Mar 12, 2017 11:55pm
Quoting emmanuel7788
{quote} Post chart of a currency pair you look at and plan to trade today/this week. I can explain better using live charts and not those after-the-event teaching method, hindsight teaching is like teach history lessons of the market.


Thank you. Will do as soon as I get to my desk in a few hours thank you once again.
  • #77,007
  • Mar 12, 2017 11:59pm Mar 12, 2017 11:59pm
Quoting feichkop
{quote} PA is Price Action, What is the previous price action doing, big candles, small candles, price ranging/trending is the trend up or down that type of thing. It is a large topic that takes some time and practice to get a feel for it.

Good post, feichkop.

Price Action is huge topic and can take years to learn and master.

Big E has very limited knowledge on overall PA trading in general.
He kept it simple and he looked at the HA candles and not the Japanese candlestick or bar patterns.
HA candle has its unique characteristics. It wicks and body size tell the price strength, momentum, potential phase change, etc. Its high-low and body size can be use to see if the market is in consolidation.
There are good tutorial videos in the original source of the 5-Method but we cannot post them here due to past complaints by members who were suspicious of commercial interests and intentions.
If you go back to Big E' other thread where the 5-Method started, you will find those videos links there.
https://www.forexfactory.com/showthr...06#post8548406
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #77,008
  • Mar 13, 2017 12:21am Mar 13, 2017 12:21am
Last week on Monday 6th of March I took a trade on EURUSD for LONG. Based on only TDI crossing green/red with a sharp angle accordingly with Price Action HA candle for the first or second color changing candle. At the moment I am more than 100 pips in Profit and still going strong. I have adjusted the initial Stoploss which is in the beginning 200 pips or last Swing/High / Swing/LOW to Entry + 10 pips. When the price level is moving further in my favor I am going to adjust the Stoploss further and further.

I trade only on D1 candle! It takes only 5 - 10 minutes a day! Less stress and you have plenty of time doing other nice things. And... the best you can do is don't look too much a day how your position is doing. It generates stress and you don't want that. Does that make sense? My Broker is FXCM with USD currency. The advantage is that you have always 5 Daily candles because the close is at NewYork EST time 05.00 PM which is the same Sydney opens at 08.00 AM. These are the "real times" opening and closing times of the FOREX Market.

Today on 13th of march I opened three new positions, based on easy conditions and as less indicators as possible. When you add more and more of these crappy indicators they pulling you away from triggering because you start to think, doubt... do you agree?

Keep it simple and stupid and use your common sense. There is nothing wrong with trading on 1H or 4H or even faster but it takes a lot of time and a lot of stress. It's not my cup of tea any more! I am done with it.

Happy trading to you all.
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Keep it simple without too many crappy indicators!
  • #77,009
  • Mar 13, 2017 12:52am Mar 13, 2017 12:52am
Is gold likely to go up more or reverse any time soon? thank you
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  • #77,010
  • Mar 13, 2017 12:59am Mar 13, 2017 12:59am
Stress while trading?

I don't have any stress when I trade with demo money.

When I trade with my hard-earned money, I also don't have any stress either because I have come to realised that I do have my WINNING EDGE and because I know in my trading cycles that I have to accept a few losing cycles. I do not trade for the money to sustain my lifestyle and therefore regardless trading M15, H1, H4 and D1, my focus has been and still be in the performance of the task of trading and never in the results. The results after 3 to 5 years is real. Do not look at the short term results because it means very little and especially when trading is done with demo money.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #77,011
  • Mar 13, 2017 1:01am Mar 13, 2017 1:01am
Quoting nanacarter
Is gold likely to go up more or reverse any time soon? thank you {image}

ask Kathy Lien who is buying gold in current economic envrionment.
she has been consistent with her market reviews and on what move the currency market.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #77,012
  • Mar 13, 2017 1:04am Mar 13, 2017 1:04am
Quoting emmanuel7788
{quote} ask Kathy Lien who is buying gold in current economic envrionment. she has been consistent with her market reviews and on what move the currency market.
erhm...I don't get what you saying and who is Kathy Lien? thanks
  • #77,013
  • Mar 13, 2017 1:14am Mar 13, 2017 1:14am
Quoting emmanuel7788
Stress while trading? I don't have any stress when I trade with demo money.
Are you talking about me Emm? I told already that I am trying to trade only on the D1 candle on the DEMO. Nothing wrong with that. Let's see for a couple of weeks how I am doing, right? In my opinion you are making it far too complicated and I am not Tekkies. I mean I don't want to discuss with you over and over again about what was Eelfranz doing. OK?

Quoting emmanuel7788
When I trade with my hard-earned money, I also don't have any stress either because I have come to realised that I do have my WINNING EDGE and because I know in my trading cycles that I have to accept a few losing cycles. I do not trade for the money to sustain my lifestyle and therefore regardless trading M15, H1, H4 and D1, my focus has been and still be in the performance of the task of trading and never in the results. The results after 3 to 5 years is real. Do not look at the short term results because it means very little and especially when...
Yeah man yeah, you are such a good trader, we know that for a long time..... However, I don't see anything of some proof you are doing well. I think it's better showing trades right at the moment and not in hindsight, that's what I am doing now on the DEMO!!!! I think that it will help more even it is on the DEMO than only talking talking talking, writing writing writing till the end of days..................
Keep it simple without too many crappy indicators!
  • #77,014
  • Mar 13, 2017 1:25am Mar 13, 2017 1:25am
This week I will have an eye on AUDUSD on Daily,, on monthly last 2 bar green butlast candle with small range now above EMA 10(witch is like EMA 200 on D1),
Daily bounced of BRN 0.7500 and EMA200, has closed out of the thursday-Candle, now waiting to close above the 5 EMA, COT also looks long imo.

regards

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  • #77,015
  • Mar 13, 2017 1:30am Mar 13, 2017 1:30am
Selling AUDNZD D1 AB=CD RSI OVERBOUGHT expecting a pull back after it broke the neckline
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Lord Forex
  • #77,016
  • Mar 13, 2017 1:31am Mar 13, 2017 1:31am
nanacarter,

check this blog:

http://kathylien.com/

Sixer
  • #77,017
  • Mar 13, 2017 1:32am Mar 13, 2017 1:32am
Quoting Sixer
nanacarter, check this blog: http://kathylien.com/ Sixer
thanks
  • #77,018
  • Mar 13, 2017 1:55am Mar 13, 2017 1:55am
Emmanuel,

Quoting emmanuel7788
I never left the thread at all. I am reading and learning here everyday like all of you who are reading and learning from one another. {image}
What was exactly the purpose of this attachment? I personally find it extremely offensive and unacceptable. You are essentially encouraging your followers to vote down Tekkies.

I want to thank you for your screenshot. I did what you suggested but on your own post.
Here is a copy of my report violation:
Quote
Making a screenshot with a post of another member and using the arrows to suggest a Code of Conduct violation is a violation on its own, especially considering that it comes from a "red banner" member with a lot of followers.

Can you keep this thread free of your personal war with Tekkies? Is it really too hard to focus on TMS trading only?
  • #77,019
  • Mar 13, 2017 2:13am Mar 13, 2017 2:13am
Quoting Mzwandile93
Selling AUDNZD D1 AB=CD RSI OVERBOUGHT expecting a pull back after it broke the neckline {image}

Looking at the Weekly, the current trend seems to be strong.
Therefore the OB seen in D1 can remain for much longer before the PA turns down.
It will most probably corrects or consolidates before the next big move.
I will pay attention to what the price will do around the round numbers - 00,25,50 and 75 levels.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #77,020
  • Mar 13, 2017 2:43am Mar 13, 2017 2:43am
Quoting michael_k
Emmanuel, {quote} What was exactly the purpose of this attachment? I personally find it extremely offensive and unacceptable. You are essentially encouraging your followers to vote down Tekkies. I want to thank you for your screenshot. I did what you suggested but on your own post. Here is a copy of my report violation: {quote} Can you keep this thread free of your personal war with Tekkies? Is it really too hard to focus on TMS trading only?
Very good reaction. I love it.
Keep it simple without too many crappy indicators!
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