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Trading Made Simple the right way, and other trading lessons 320 replies

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Trading Made Simple

Quoting emmanuel7788
{quote} {quote} Here are 2 charts -MN and D1 to show what I meant by the D1 candle which closes across the MN Historical swing level is a big body candle. I trade using these MN swing levels. Trade the price as it move from one level to the next level, use the levels to find trade setups and target the next levels. {image} {image} This week we have month end clsoing. After today NY close, we update our Big Picture Plan BPP and plan our trades for next month.
How to use the indicator properties not to show the TDI on Weekly and Monthly chart.

This is to reply one PM asking for my chart template in this post above. I have only one chart template and what I see is by using the properties setting of the indicator.
For example, I do not look at the TDI on Weekly and Monthly, I simply un-check the timeframe box.

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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
Hi Folks,

I've been busy with my day job over the last couple of weeks but only resumed trading last week. I had one good MEME trade so wanted to share my chart. I saw a good D1 PASR setup 24 April, but I entered on the first H1 setup on 25 April and followed the rule. Could have earned some more pips but as Friday was the last day of month April, I closed my positions on Thursday 27th.

As I have done my BPP for next week, I picked long AUDNZD, and also USDCAD for my MEME trading. I know that this coming week is full of important economic data to be released, but I will be following my weekly BPP to practice if those data change already established trend in the currency pairs I picked.

Thanks for your comments,

Okoso
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Quoting okoso
Hi Folks, I've been busy with my day job over the last couple of weeks but only resumed trading last week. I had one good MEME trade so wanted to share my chart. I saw a good D1 PASR setup 24 April, but I entered on the first H1 setup on 25 April and followed the rule. Could have earned some more pips but as Friday was the last day of month April, I closed my positions on Thursday 27th. As I have done my BPP for next week, I picked long AUDNZD, and also USDCAD for my MEME trading. I know that this coming week is full of important economic data to...

Why you stop trading on Apr 27 and 28?
The buy with ME/ME still valid until the next D1 HA candle close with change in colour.

See my chart below:

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Caution: next week there is AUD rate by RBA on Tuesday May 2.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
Hello folks , Thats are the my results from TMS from Feb 2nd 2016! to january 8th 2017 . It was demo account with 0.10lots. Sorry i use different platform then MT4 .Im starting live account tomorrow wish me luck . Thanks Emannuel and other guys for hard work and for your shares , I have learned a lot reading this thread. Thank you very much you are good man Emmanuel .
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You attract what you think in any area of life, relationships and trading!
Quoting emmanuel7788
{quote} Why you stop trading on Apr 27 and 28? The buy with ME/ME still valid until the next D1 HA candle close with change in colour. See my chart below: {image} Caution: next week there is AUD rate by RBA on Tuesday May 2.
Hi Emmanuel,

Thank you for commenting.

I stopped trading on 28th knowing that 28 was the last day of April (possible retracement due to traders closing positions before the month end) and also knowing that I wouldn't be able to have time to look at my chart, so I closed my trades in the evening of 27 my time.

Next time I will try to be in the market as you have shown me on your chart. Now may I have few questions from your replied post?

1. With the PAC trading and exiting when HA candle closes in opposite color, how many positions we should build? Would you be still adding positions during retracement knowing that that retracement most likely result into HA change color? Or this PAC approach only valid for single entry?

2. Caution? When you say "CAUTION" What exactly traders should do? I can only think of no trading, less exposure, tighter stop loss or wider stop loss depending on what you expect,

Thank for your comments,

Okoso
Quoting Nik-Nyc
{quote} Dempip, Have a look at the post below. Pay particular attention to the last sentence and study the PDF with your own charts open. https://www.forexfactory.com/showthr...97#post7188097 Best, N
Thanks for the PDF NIK-NYC(via Emmanuel7788) ( yup last sentence good reminder) & thanks for the inquiry Dempip... I have been following (this thread) & practicing the TMS on/off as time permits for while now. I read Candle sticks well from past trading/study & this helped make a better connection to add to my strategy since having trouble connecting/trusting/learning HA candles. Find HA candles great to filter noise & use them visually w/5ema separation for stay-in/enter/exit decisions.

Dempip...The TDI crosses w/set up candles good to practice in all time frames to keep it simple works for me, S/R in all time frames as well. A lot to learn here...Thanks All!!!

Cheers Axleman.
Update: TMMA Histo

  1. Fixed minor alarm issue.

You may now download or ask technical questions by visiting the following indicator development journal >>> here.

Intelligence is the ability to adapt to change. -- Stephen Hawking
Guys I'd like to ask, what are you doing when day is full of medium importance and very important news, like today on investing.com economic calendar expected such news related to USD at 15:30, 16:45, 17:00 (GMT+3). Big E said that he was trading 1 h timeframe at news time, but what interests me is should that news currency be ignored at all if many news expected, trading short TF (1 min to 1 h) or set up long TF (4h-daily). I just fear that setting up long TF at news time (like daily) could reverse trend. So what you would choose?
Resistance is futile. Volatility will be assimilated.
Quoting okoso
{quote} Hi Emmanuel, Thank you for commenting. I stopped trading on 28th knowing that 28 was the last day of April (possible retracement due to traders closing positions before the month end) and also knowing that I wouldn't be able to have time to look at my chart, so I closed my trades in the evening of 27 my time. Next time I will try to be in the market as you have shown me on your chart. Now may I have few questions from your replied post? 1. With the PAC trading and exiting when HA candle closes in opposite color, how many positions we should...

The PAC is useful to show the volatility of the market. You can use that regardless if you are trading with SE/SE, SE/ME, ME/Se or ME/ME.
When you use 0.5ADR(100 days) for your ME entries, it is unlikely that there will be more than 2 trades entries in one day. If you want to be aggressive, you can use 0.25ADR(100) and this will have more ME trade entries in one day.
If you look at the ADR(100), it is about 65 pips. The recent high-low of the PAC is about 70 to 75 pips, this is what I consider as regular nothing unusual.

No matter what the ME trade order distance, you will always exit when you trades are in profits or at breakeven. This will safeguard against any possible strong correction.
We do not know if the next candle will be a deep retracement therefore every opportunity to take profit must be one of the task for the trader to observe and close profitable positions. There will be times when we have 3 to 5 open positions in one basket and it will be better to close them either with small profits or breakeven rather than wait for all positions to be in profits. Like I said before, we can have losing trades in one basket, but fewer losing baskets.
Always look at the price action of the price bar and also the HA candles. When these both do not show higher high and high low in the uptrend, we start to take precaution of a correction or consolidation., this is when the HA change in colour will often happen even before the HA closes in the PAC or make a violent big candle in opposite direction.
Watch this tomorrow when the RBA rate announcement hour.

CAUTION means several things.
1) Do Not trade low timeframes like H1 and M15 around the hour when the news release. This is to avoid the volatility and we do not know the direction of the 'knee jerk' market reaction. Some traders think it is 'stop hunting' but the smart money knows where to fill orders.

2) When trading the D1 chart, and when we have open positions in a ME/ME trading situation, try to take profits or breakeven when possible. If we have only one open position in a basket, stay in the direction of the higher TF direction or trend. Check the PAC of the HTF. I usually try to have only one or two positions in a open basket before any key data release as a general trade management rule. If you have 5 open positions in one basket and all are in floating losses, it is often not a good situation to be in before a key data release. Bit the bullet and take the loss basket. Sit out until after the data release and plan the next trade.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
@luvene's and others, do you think the AUDUSD in purchase and the EURAUD for sale are of good trade?
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Quoting Pixlab
@luvene's and others, do you think the AUDUSD in purchase and the EURAUD for sale are of good trade? {image} {image}
GBP/AUD allso EUR/AUD in my watch list
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Quoting Pixlab
@luvene's and others, do you think the AUDUSD in purchase and the EURAUD for sale are of good trade? {image} {image}

both AU and EA good on H4 but too early on D1.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
A question about exit strategy - changing color of the HA bar.
I believe to have understood that we should exit a trade when the CLOSING of the last HA-bar has the opposite color of what my trade would have.
Is it not so that the nature of HA bars makes them already unsensitive to noise. So when they change color after 1 hour in a 4 hour timeframe would that not be a signal to close a (profitable) trade?

I would like to hear your opinions.

PS: Thanks to Emmanuel7788 for your answer to my PAC question.
Quoting mizi123
{quote} GBP/AUD allso EUR/AUD in my watch list {image}
Hello mizi,

can you share the TDI with the arrows pls?
AUDUSD trade sell trade closed when HA color changed. (My broker is FXCM server time is GMT+2)

It bounced back from the support level.

Emmanules POMO wll be appreciated on it
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Quoting mazibee
AUDUSD trade sell trade closed when HA color changed. (My broker is FXCM server time is GMT+2) It bounced back from the support level. Emmanules POMO wll be appreciated on it {image} {image}
The exit condition for AUDUSD on D1 chart is clear. Just follow your trade plan and exit rule. The reaction bounce form RN 0.7450 is quite clearly seen with its price action.
If you look at D1 price bars, it failed to make lower low. On both H4 and H1 is also quite obvious with inverse 'head and shoulders' seen, a reversal chart pattern.

Also there is D1 exit condition for NZDUSD Sell and exit for EURAUD, EURNZD, GBPAUD and GBPNZD buy when Sydney open today.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
Hi everyone
Thanks to everyone for the posts just finished reading the first 6000 or so of them. Been trading on demo for 6 months and 4 months using Big E's vanilla version. Still making some rookie mistakes but i think it has more to do with discipline and the difference in time zone's than not following the rules. Is there anyone actively trading this system in Australia. Would love to know how they are managing the time difference. Lastly huge thanks to Emmanuel for all the PDF's highly informative but my eye's are killing me.
Here is my latest D1 trade:
Sell GBPAUD at 1.7121, S/L: 1.7322, T/P: 1.6500.

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Pros: 2nd "sell" color and first good "sell" candle, good TDI angle
Cons: TDI cross is slightly above 68 area.

Will see how it develops.
Quoting Mbt
{quote} Hello mizi, can you share the TDI with the arrows pls?
Hi Mbt she is not some sort of TDI with alert but is Moving Average price brekout indi but works very well with tdi when croses and bounce on it apere here it is the indi and settings that i use for her
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File Type: mq4 Price MA Breakout.mq4   3 KB | 331 downloads
These are mine 2 trades on H4 wich perform extremly well Thanc you Big-E i pray to God to bless you with paradise for these thred, allso to our friends starting from Emanuel to all active users, im really feeling glad
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