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Trading Made Simple

  • #78,141
  • Mar 26, 2017 6:57pm Mar 26, 2017 6:57pm
Quoting mazibee
{quote} Exception to the Basic Rule Post #7612 {quote} {image}

Hi Mazibee,

you uncovered one of the exception to the basic exit rule.... .

look at that chart in Post#7612, study every detail on that chart and make your own observations and write your own notes. There are things which Big E did not say in his post. This will lead you to your own system development... learn from where he was silent.

Now you have another 25 exceptions to the basic rule to look for.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #78,142
  • Mar 26, 2017 7:00pm Mar 26, 2017 7:00pm
Quoting Nivian
{quote} Hi, could you ling post 861 and post 463, i dont think im getting to the correct posts.

....his 463 posts in this thread and 861 posts in the CSH thread.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #78,143
  • Mar 26, 2017 7:09pm Mar 26, 2017 7:09pm
Quoting Sesmo
{quote} I would have closed the position if it was open only if the candle that has made the flat on the tdi had closed below the 5EMA, NB i will do that only on that time frame indicated on the chart.

Hi Sesmo,

You are correct to exit when the HA candle turn violently in the opposite direction and closed across (above or below) the 5EMA.

Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD D1 one HA candle reversal.png Size: 52 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #78,144
  • Mar 26, 2017 7:16pm Mar 26, 2017 7:16pm
If you are planning to trade the D1 chart, you must do your forward testing like Big E did.

Read his Post#8703
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #78,145
  • Mar 26, 2017 7:22pm Mar 26, 2017 7:22pm
Quoting mokuro89
{quote} Hi infoserve, according to this artiche, "Weekly, monthly, and irregular timeframes are not tested", you cant test W1 and MN data on strategy tester in MT4, I could not make it work even when using iCustom function.

you can write your own expert advisor EA to do the back-testing and not rely on MT4 strategy tester which is limited.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #78,146
  • Mar 26, 2017 7:32pm Mar 26, 2017 7:32pm
Quoting Deichkind
{quote} I use an EA for the MEME management, a backtest is unfortunately only possible with every single signal since each signal has a different ATR etc. The MT4-tester does not support this unfortunately Does someone has a solution for this problem? regards
I did explain this in my old posts on add-on ME/ME positions.

You can use the TDI cross signal in the lower timeframe, like M15 or M5 to place you add positions after the initial trade is executed and but only after the the minimum order distance of 0.5ADR-100 days condition is met. This is one of my main parameter used.

Or you can program in your EA a time delay between orders to limit the number of add-on ME/ME per day. I usually limit to 2 add-on trades per day. If not, you can enbd up with too many add-on trades in small pips distances when the market get choppy on some days.

The above two technical parameters are very important in ME/ME trading.

Read up on member tibovwh posts in the thread. He is well ahead of many others here on ME/ME coding.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #78,147
  • Mar 26, 2017 7:35pm Mar 26, 2017 7:35pm
Quoting mokuro89
Hi Emmanuel, this is some of my weekend backtest data using an EA that im developing based on the knowledge shared in this thread ME/SE trades using TDI cross on D1 to decide if long or short, and using TDI crosses on M30 to build positions, closing all positions on loss when D1 TDI cross to other side, taking all TDI crosses on D1: NZDUSD 09/11/2016 - 26/06/2017 {image} EURUSD 10/10/2016 - 26/06/2017 {image} GBPUSD 01/07/2016 - 26/06/2017 {image} USDJPY 01/09/2016 - 26/06/2017 {image} The tests takes only few minutes to complete even when "Every...

Hi mokuro89,

I see you got that nailed. Good job buddy.

you have a money making machine in your PC..
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #78,148
  • Mar 27, 2017 1:54am Mar 27, 2017 1:54am
EURUSD Week 13 Mar 27 possible targets for this week.
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Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD Week 13 Mar 27 targets.png Size: 31 KB


and also corrections
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #78,149
  • Mar 27, 2017 2:48am Mar 27, 2017 2:48am
Quoting eelfranz
Top of the weekend to you all ! Go to any 1 hr/4hr chart, just look at the TDI... now scroll back about 6-12 months. It looks like rolling waves all along the TDI. So why not get in at the top or bottom of the TDI.. You no that price always returns to it's previous levels. If you entered when green crossed the red ... and stayed in until it crossed again ... I believe you would make more pips than you think is possible ... {image}

Folks,

what do you think of this old post what Big E said?

is this another Exit rule which is an exce[ption to the basic rule which says exit when the TDI goes flat, hook back, make a check-mark, ....
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #78,150
  • Mar 27, 2017 4:24am Mar 27, 2017 4:24am
Quoting emmanuel7788
{quote} Folks, what do you think of this old post what Big E said? is this another Exit rule which is an exce[ption to the basic rule which says exit when the TDI goes flat, hook back, make a check-mark, ....
That's more or less the way I trade on the D1. I don't like repeating over and over again the same rules I mentioned before, so if you want scroll back a few pages. Keep it simple. OK folks, one more time, the last..... these are my rules. Try it for yourself, first on DEMO! I am doing this too now for several weeks and I have been made a very good Profit.

1. TDI crossing green/red.
1a. At the same time look at the Price Action HA candles. Is it the first or second candle? Yes? Go!
1b. Be careful when the crossing green/red is not a sharp angle
1c. and when the level is < 32 for SHORTS and > 68 for LONGS.
1d. You have to be careful too if the crossing takes place for LONGS under the yellow line of the TDI and opposite for SHORTS above the yellow line.

Attention! Rules 1b - 1d won't say that you can't take a trade when this happens but be careful!!!

2. Stoploss and Take Profit rules
2a. Stoploss Fixed 200 pips or last SwingHigh for shorts / last SwingLow for longs.
2b. When there is an opposite crossing of green/red TDI go out immediately.
2c. No Fixed Take Profits.
2d. If 100 pips in favor adjust your stoploss to Entry + 10 pips.
2e. When 150 or whatever you like pips in favor adjust your Stoploss again. At 200 the same. Etc. etc. Let profits run, use your common sense how to do. Look at TDI and PA candles.

Remember thoughts Eelfranz when a crossing green/red occurs and at the same time color changes Heikin Ashin Bars For how many times these Colored Bars will keep the same color..........Do you get the point?

Forget looking at "confirmation" to so called Support/Resistance levels. Man.... What are these levels telling you? On each different timeframe you get different levels, the same as Pivot Points. Forget Stochastics, forget EMA+5 shifted, forget Fibonacci and all other crap.

Keep it simple for the last time. All those indicators pulling you away from triggering, you start to doubt, get fear, confusing, confusing........
Trade one time a day, I prefer doing this at 05.00 EST when a "new day" starts on the FOREX Market. Find a broker which will close the Daily at 05.00 EST or Sydney opens. This is the same.

Good luck to you all and happy trading!
Keep it simple without too many crappy indicators!
  • #78,151
  • Mar 27, 2017 4:27am Mar 27, 2017 4:27am
hello...

..been trying to search what Big E says about trading D1 chart... I can't seem to find it. please help in pointing me to right direction.

thank you.
Since Frank Sinatra sings in his own way, my chart sing... I did it, my way
  • #78,152
  • Edited 5:27am Mar 27, 2017 4:42am | Edited 5:27am
Any suggestions, criticism or advice most welcome

I took the following trade Eur/Jpy on Thursday a sell signal
My reasons for taking the trade were

Price was below 10 EMA in day H4, D1 and in W1 timeframe
There was consolidation for few hours (around 3 candles) then the bearish breakout
Support/Resistance last seen on these levels was in end of February
TDI (Red, green was confirming)
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 140 KB
  • #78,153
  • Mar 27, 2017 4:54am Mar 27, 2017 4:54am
Quoting mazibee
Any suggestions, criticism or advice most welcome I took the following trade on Thursday a sell signal My reasons for taking the trade were Price was below 10 EMA in day H4, D1 and in W1 timeframe There was consolidation for few hours (around 3 candles) then the bearish breakout Support/Resistance last seen on these levels was in end of February TDI (Red, green was confirming) {image}

Post#949 has several questions answered by Big E.
https://www.forexfactory.com/showthr...73#post4585873


and also you must look up his posts and his training charts where he mentioned 'good angle' on his training charts. Study those charts very closely and pay attention to every small details on those training charts. he may not have written much on those charts but you have to train your eyes to see what he sees without having to write long story.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #78,154
  • Mar 27, 2017 4:58am Mar 27, 2017 4:58am
Quoting v2vboni
hello... ..been trying to search what Big E says about trading D1 chart... I can't seem to find it. please help in pointing me to right direction. thank you.
Hi,

I don't think Big E traded D1 time frame. Read Emmanuel post #78102 few pages up and see what he had to say about BigE trading D1 chart.

Okoso
  • #78,155
  • Mar 27, 2017 5:12am Mar 27, 2017 5:12am
Quoting okoso
{quote} Hi, I don't think Big E traded D1 time frame. Read Emmanuel post #78102 few pages up and see what he had to say about BigE trading D1 chart. Okoso
thanks okoso!
Since Frank Sinatra sings in his own way, my chart sing... I did it, my way
  • #78,156
  • Mar 27, 2017 5:20am Mar 27, 2017 5:20am
Quoting v2vboni
{quote} thanks okoso!

Quoting eelfranz
I'm going to do a test on the Daily charts. When green crosses red I'll stay in until green crosses red again. I'll report the results in a week or so... I'll only enter if the candles are medium length or larger... wish me luck ...
I was searching the forum for Daily Charts and found this post of BigE
He tested on Daily time frame , but cannot find the results of his test.
  • #78,157
  • Mar 27, 2017 5:23am Mar 27, 2017 5:23am
Any suggestion, advice or criticism most welcome

Took an Eur/Aud trade (buy signal) on Friday

My reasons of taking the trade were

The price was above 10 EMA on H4, D1 and W1
The recent resistance of 10 March was broken and then there was a wide empty space
There was a nice bullish trend in D1 since previous 3 days

Though the trade has ended up in profit but still not sure whether I should have let the profit to run or not
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 31 KB
  • #78,158
  • Mar 27, 2017 6:06am Mar 27, 2017 6:06am
Quoting mazibee
Any suggestion, advice or criticism most welcome Took an Eur/Aud trade (buy signal) on Friday My reasons of taking the trade were The price was above 10 EMA on H4, D1 and W1 The recent resistance of 10 March was broken and then there was a wide empty space There was a nice bullish trend in D1 since previous 3 days Though the trade has ended up in profit but still not sure whether I should have let the profit to run or not {image}

that is a trade taken on H4 so you manage that in H4.

what should be your rules to 'let profits run'?
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #78,159
  • Mar 27, 2017 6:15am Mar 27, 2017 6:15am
Hi MB,

Quoting mazibee
Though the trade has ended up in profit but still not sure whether I should have let the profit to run or not
I would say it looks good. Did it hit your takeprofit or you closed it manually? In any case it had a long run on H4 so you might have closed it just right in time.

By the way, what is the name of your indicator in the upper right corner showing the various timeframes? It looks a lot like TradingStations MultiTF HA, something I have been searching for a long time.

Any chance you can upload it? Thanks in advance!
  • #78,160
  • Edited 6:45am Mar 27, 2017 6:29am | Edited 6:45am
Quoting michael_k
Hi MB, {quote} I would say it looks good. Did it hit your takeprofit or you closed it manually? In any case it had a long run on H4 so you might have closed it just right in time. By the way, what is the name of your indicator in the upper right corner showing the various timeframes? It looks a lot like TradingStations MultiTF HA, something I have been searching for a long time. Any chance you can upload it? Thanks in advance!
10 EMA Dashboard

Please read this Emmanuel post also

Quoting emmanuel7788
{quote} The 10EMA dashboard gives an overview of the price close above or below the 10EMA of that TF. It does not show the distance of the price close from the 10EMA. In some situations, the W1 candle can close very far from the 10EMA and there are opportunities for counter trend trades when there is corrections during the week. Therefor, beside using the 10EMA dashboard, it is important we look at the price charts either Bar Chart or Japanese Candlesticks chart and look at the market condition. Always zoom out on your charts to see the bigger picture of the market especially when you are looking at lower TF charts like H1 and H4.

Thanks
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