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Trading Made Simple

  • #79,741
  • May 17, 2017 6:03am May 17, 2017 6:03am
Quoting emmanuel7788
EURCAD Week 20: Will it make a new MN high? We don't know what the market will do today and tomorrow. So I moved my SL to breakeven (risk free trade) and do the only thing I can do, i.e set my TP at the last spike 1.5280 and WAIT! {image}
Hi Emm.
I have differently a picture EURCAD. I have RL and High currently Month. I decide that it is important level and close trade. (TP is 1.51340).
Do you take this level? Maybe, do you close a part of order?
Attached Image (click to enlarge)
Click to Enlarge Name: EURCADDaily.png Size: 54 KB


Thank in advance.
There is no reason to trade if there is no reason to trade.
  • #79,742
  • May 17, 2017 7:15am May 17, 2017 7:15am
Quoting emmanuel7788
{quote} I don't have to do anything and let the trade manager does all the work now. It knows when to cut-loss automatically when it happens. There is no 10% drawdown and don't rely on what you see in Trade Explorer because it shows only one currency pair traded in that account. I have other trades running in several currency pairs and only USDJPY and USDCAD are in floating drawdown. Have you seen trades in floating drawdown of more -5000 pips and then market turn around to make +2700 pips? Learn not to panic. Go do something else like reading favourite...
The reason I ask is because you have mentioned that you open 5 position per basket. However you haven't done that, you have opened 9 so far.

As a student and novice, I rely on what you post and say to improve my trading.

It is very difficult when you say one thing but do something else, it makes it difficult for people like me to replicate your success
Hakuna Matata
  • #79,743
  • May 17, 2017 7:51am May 17, 2017 7:51am
Quoting Simba
{quote} The reason I ask is because you have mentioned that you open 5 position per basket. However you haven't done that, you have opened 9 so far. As a student and novice, I rely on what you post and say to improve my trading. It is very difficult when you say one thing but do something else, it makes it difficult for people like me to replicate your success
Did you follow every post I made in this thread since 2015 on trading with ME/ME?

read this last post on USDJPY trade.

https://www.forexfactory.com/showthr...00#post9864000

There are several variables involved in trading ME/ME.

Using 0.5ADR (100) D1 as the trade order distance and 5 maximum positions per basket is the default and is correct.

We also look at the market condition which dynamic and changes often and we must react when we are managing our trading accounts.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #79,744
  • May 17, 2017 7:55am May 17, 2017 7:55am
Quoting marionetka
{quote} Hi Emm. I have differently a picture EURCAD. I have RL and High currently Month. I decide that it is important level and close trade. (TP is 1.51340). Do you take this level? Maybe, do you close a part of order? {image} Thank in advance.

I look at weekly volatility and trading range. It is between 250 and 325 pips, so I see the current high 1.5150 within reach.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #79,745
  • May 17, 2017 7:58am May 17, 2017 7:58am
I dont one think you've ever mentioned 10 open positions on a basket and if you haven't then how can we learn from you. You tell half the story.

have you ever mentioned 10 open position per basket?

Quoting emmanuel7788
{quote} Did you follow every post I made in this thread since 2015 on trading with ME/ME? read this last post on USDJPY trade. https://www.forexfactory.com/showthr...00#post9864000 There are several variables involved in trading ME/ME. Using 0.5ADR (100) D1 as the trade order distance and 5 maximum positions per basket is the default and is correct. We also look at the market condition which dynamic and changes often and we must react when we are managing our trading accounts.
Hakuna Matata
  • #79,746
  • May 17, 2017 8:19am May 17, 2017 8:19am
Hello Emmanuel,
how are you?

Just a quick side question, maybe its an error on my side, but at your TE the last Sync was 46min ago
Looks like it got disconnected.

Good luck with the trades the USD is getting hammered really bad at the moment.
  • #79,747
  • May 17, 2017 8:27am May 17, 2017 8:27am
some people are quick right.. ey.. simba, per 0.25 is a quarter of adr and if you use 2 and half days adr to build ,you get how many positions.?
It's in fear when people show what they truly value.
  • #79,748
  • May 17, 2017 8:29am May 17, 2017 8:29am
Quoting Fame of me
Hello Emmanuel, how are you? Just a quick side question, maybe its an error on my side, but at your TE the last Sync was 46min ago Looks like it got disconnected. Good luck with the trades the USD is getting hammered really bad at the moment.

last sync was 53 mins ago. it will sync automatically.

yup, USD got hammered this week therefore I pick only one pair from each group of my market watchlist to be safe. I made money with EUR pairs but will lose USDJPY this cycle. USDCAD also in DD this week.

this type of cycle happens 3 to 4 times a year.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #79,749
  • May 17, 2017 8:33am May 17, 2017 8:33am
Quoting ensale
some people are quick right.. ey.. simba, per 0.25 is a quarter of adr and if you use 2 and half days adr to build ,you get how many positions.?
Stupid question, depends how much the pair moves, it doesn't always move 1xADR per day

I would just like to know how he plans to manage the trade. When is he going to cut his loss. He said around 111.00 before, maybe that is 30% drawdown on this account. It's around that level now. Let's see what he does. He clearly trades a grid method, adding trades to a losing position.
Hakuna Matata
  • #79,750
  • May 17, 2017 8:33am May 17, 2017 8:33am
Quoting Simba
I dont one think you've ever mentioned 10 open positions on a basket and if you haven't then how can we learn from you. You tell half the story. have you ever mentioned 10 open position per basket? {quote}
It not even half my story so far. Only Chapter One of my book.

Let me say it now, when I average down and average up, it can be as many as 30 positions. My trade manager has options to define the levels for average down and average up.

It all boils down to the %risk you can afford to trade per pair.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #79,751
  • May 17, 2017 8:36am May 17, 2017 8:36am
Quoting Simba
{quote} Stupid question, depends how much the pair moves, it doesn't always move 1xADR per day I would just like to know how he plans to manage the trade. When is he going to cut his loss. He said around 111.00 before, maybe that is 30% drawdown on this account. It's around that level now. Let's see what he does. He clearly trades a grid method, adding trades to a losing position.
You clearly didn't understand the question.
It's in fear when people show what they truly value.
  • #79,752
  • May 17, 2017 8:40am May 17, 2017 8:40am
Took the AUD/JPY, about 40 pips in profit. maybe should have taken it on the second candle.
Bay The earth is the Lord's and the fullness thereoff.
  • #79,753
  • May 17, 2017 8:45am May 17, 2017 8:45am
Quoting emmanuel7788
{quote} Good work, it gets better and better ... next request from me, please make the APB candles to have auto-width. When we zoom +/-, the candle width should be able to change. like these below. {image} {image}
oh... nice idea.... I'll modify and share in few minutes.

Thanks
Since Frank Sinatra sings in his own way, my chart sing... I did it, my way
  • #79,754
  • May 17, 2017 8:49am May 17, 2017 8:49am
Quoting Simba
{quote} Stupid question, depends how much the pair moves, it doesn't always move 1xADR per day I would just like to know how he plans to manage the trade. When is he going to cut his loss. He said around 111.00 before, maybe that is 30% drawdown on this account. It's around that level now. Let's see what he does. He clearly trades a grid method, adding trades to a losing position.
I don't worry about the drawdown TE shows. I know the %risk of my trading capital I placed in that account to trade AU and UJ as according to my trade plan CI500. I don't panic just because of one bad trading week or a losing 20-trading days cycle. 3 to 4 losing cycles will not hurt because the win rate above 60% and Expectancy is above 2.5.
What I do now? I simply let my MEME trade manager do its work and manage those UJ trades.

Maybe you should explain to us what is grid method that you know of.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #79,755
  • May 17, 2017 8:50am May 17, 2017 8:50am
Quoting v2vboni
{quote} oh... nice idea.... I'll modify and share in few minutes. Thanks

That's great.

Thanks.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #79,756
  • May 17, 2017 10:08am May 17, 2017 10:08am
You chat shit.

Quoting emmanuel7788
{quote} I don't worry about the drawdown TE shows. I know the %risk of my trading capital I placed in that account to trade AU and UJ as according to my trade plan CI500. I don't panic just because of one bad trading week or a losing 20-trading days cycle. 3 to 4 losing cycles will not hurt because the win rate above 60% and Expectancy is above 2.5. What I do now? I simply let my MEME trade manager do its work and manage those UJ trades. Maybe you should explain to us what is grid method that you know of.
Hakuna Matata
  • #79,757
  • May 17, 2017 10:22am May 17, 2017 10:22am
Quoting Simba
{quote} Stupid question, depends how much the pair moves, it doesn't always move 1xADR per day I would just like to know how he plans to manage the trade. When is he going to cut his loss. He said around 111.00 before, maybe that is 30% drawdown on this account. It's around that level now. Let's see what he does. He clearly trades a grid method, adding trades to a losing position.
Simba, don't forget that Emmanuel's TE shows only DD as a percentage of the deposit in that account. The deposit is only to cover margin levels and is not the total trading capital allocated to trading that pair. So actual draw down relative to total trading capital is much lower.
  • #79,758
  • May 17, 2017 10:38am May 17, 2017 10:38am
Hi Gang,

MT4 question. I had my platform slow way down at one point. Since I am trading mostly 4H and D, I didn't worry about it but need to fix it. Is there a way to clear the cache or is there a deeper issue at hand? Is there an upgrade people know about? Thanks.
  • #79,759
  • May 17, 2017 11:14am May 17, 2017 11:14am
Quoting Simba
You chat shit. {quote}
lmfao, what's up with you "bruv" ?
  • #79,760
  • May 17, 2017 11:17am May 17, 2017 11:17am
Hi All,

Sort of newbie here,
I'm into forex for 1,5 years now and came across this threat.
I'm currently on page 125 of 3988, so still a lot to catch up.
The only question I have now is:
Did in 6 years this thread is open, anything changed concerning Big E's trading times, so 4h charts during the beginning of London and 1H charts during the afternoon and NY session.
What TF do you use during asian session?
The reason for asking is that I noticed the drawback of the initial course after 1pm UK, as was mentioned by Big E. 6 years ago and I lost quit some pips, I was still trading on 4H chart during UK afternoon, and that one bit me in my ass.
I was able to tackle this strategy by now, I'm just kind of Interessed about the TF you use. I don't intend initially to go below 1H and beyond 4H.

Thnx inadvance
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