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Trading Made Simple system follower - Thanks to eelfranz 9 replies

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Trading Made Simple

  • #37,601
  • May 18, 2014 3:28am May 18, 2014 3:28am
For those you who are new to this thread Trading Made Simple, my suggestion is that you go back and start reading the 5-Method in this thread Craig Harris Stochastics Method. Read all the 861 post by our late OP eelfranz.

Link http://www.forexfactory.com/showthread.php?t=211188

To start with, that thread has a lot fewer pagee to read and study. When your are done, then come back to this Trading Made Simple thread and read all the 463 posts made by eelfranz. You need a strong foundation to build upon later.
You will learn the 5-Method and will appreciate why eelfranz named this thread Trading Made Simple where we continue the discussions on the 5-Method. While reading, focus on those discussions where members discussed the various TDI condition cross, the TDI Green cross Red, the Average Price Bar APB change colour, APB candle1, APB candle2, candle close, etc. The TMS 5-Method trade entry and exit rules are simple but not easy when it comes to making trade decisions.
There is no easy money when it comes to trading this spot forex market. Take your time because learning to be a trader takes time. Learn to be patient, learn to wait and look for the high probability trade setups.
I am afraid there is no short-cut. You need to do the work.
regards,

EMMANUEL.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #37,602
  • May 18, 2014 3:56am May 18, 2014 3:56am
Quoting pastecopy
The GN chart is almost similar to the EA where it went up after Asian session breakout and then pullback, signaled from Bearish Engulfing Bar. The GN was with a bearish bar or PCRF was seen, I shorted but it went against me . Any feedback for this? {image}

Hi pastecopy,

Like I said before, hindsight is 20:20 visions and I can write a lot based on hindsight.
The best way to learn is in doing backtesting and learn to spot the TMS 5-Method trade setups and simulate entry and exits. Also my way in learning is to do a post mortem of the week for those pairs I trade after the market closed.

See attached where I made come comments on that chart you posted. Also my post mortem of GN on H1 chart timframe.
Some trade setups look good at the piont when we make our trade decision but will fail to run in our favour therefore we always place our stop loss and manage the exit when market goes against our trade setups.

The best H1 trader is Phx62 and we should study all his posts in the X-Man S3 thread and also here in this TMS thread. He really kept his trading very simple following the 5-Method rules.

Hope the attached GBPNZD Week20 H1 POMO will provide some lessons on how H1 can be traded.
Attached File(s)
File Type: pdf GBPNZD week20 H1 POMO.pdf   274 KB | 712 downloads

regards,

EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #37,603
  • May 18, 2014 4:44am May 18, 2014 4:44am
Hi, is there any mt4 indicator which draw price line of period 5 linear weighted (HLC/3) moving averages of H4,D1,W1,MN on single chart. I will be grateful.
  • #37,604
  • May 18, 2014 9:49am May 18, 2014 9:49am
Here it is.
Attached File(s)
File Type: ex4 MTF_MovingAverage.ex4   5 KB | 513 downloads
  • #37,605
  • Edited 9:21pm May 18, 2014 10:05am | Edited 9:21pm
I'm on 4h chart
do scalping
5-10 pips maximum
I would recommend major currency pairs
This same system trading made ​​simple
I've added only two indicator

I would recommend
http://www.migbank.com/en/
european server time
I'm using switzerland time zone
They change is happening in our indicator
In a few different forex broker
to make sure
we need to find the best broker
We need to look at two or three different brokers graphics
Attached Image (click to enlarge)
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  • #37,606
  • May 18, 2014 10:40am May 18, 2014 10:40am
template & indicators
Attached File(s)
File Type: rar Trading made simple.rar   25 KB | 634 downloads
  • #37,607
  • May 18, 2014 11:55am May 18, 2014 11:55am
Quoting emmanuel7788
For those you who are new to this thread Trading Made Simple, my suggestion is that you go back and start reading the 5-Method in this thread Craig Harris Stochastics Method. Read all the 861 post by our late OP eelfranz. Link http://www.forexfactory.com/showthread.php?t=211188 To start with, that thread has a lot fewer pagee to read and study. When your are done, then come back to this Trading Made Simple thread and read all the 463 posts made by eelfranz. You need a strong foundation to build upon later. You will learn the 5-Method...
To those getting acquainted with this method pay no mind to attempts to turn this simple method into brain surgery. It does not take time to learn this method. It will if the mind is clouded with various check points, indicators etc. Eelfranz traded with just 2 lines in his TDI. Red and Green. Crosses being the signal to act on a trade long or short. Set reasonable stop losses. I chose 15 pip stop loss and make $$ every week trading H1. H4 certainly works well if chosen. There will be stop loss hits. Inevitable, but if one stays on course profits will follow. A child could do this!!
  • #37,608
  • Edited 3:13pm May 18, 2014 2:51pm | Edited 3:13pm
Quoting mor707
{quote} Hi lastingwell, Would you follow the same logic when trading the H4? Before taking a trade on the H4, check the Daily for any hint of a reversal there?
Yes if I'm trading h4 I would look at the daily for a hint, if I'm looking to trade on any timeframe I go to the next timeframe up just to see if its likely to go as far as I want it to. The moves start on the smaller timeframes obviously, but unless the higher timeframes are ready to turn it either won't work at all or it won't go very far. It only takes a glance though, nothing in depth, just look for a trendline, divergence, candle pattern, whatever you normally look for, just a hint its going to turn.

I posted the other day about taking trades when m15, h1 and h4 fall into place together, http://www.forexfactory.com/showthre...17#post7470617 I always take them because they are extremely accurate. Here's another example unfortunately I missed it as I wasn't watching GJ, but the very best move on GJ all week happened when all 3 had some reason to go in. h4 pin bar bounce off mbl, h1 pin bar and bounce off mbl, m15 divergence and tdi crossed. Obviously they don't come around very often but just one glance at all 3 timeframes you would have to go in.
Attached Image(s) (click to enlarge)
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  • #37,609
  • May 18, 2014 3:13pm May 18, 2014 3:13pm
Quoting clubdio
Here it is. {file}
Thanks..............
  • #37,610
  • May 18, 2014 8:38pm May 18, 2014 8:38pm
Hi, I'm back! Hope we're all doing well here. Best wishes from Thailand!

It's been an interesting month. Especially meditation training, has to be one of the most difficult exercise I've been though in my whole life. And in my view it's very similar to trading psychology. I'll write something up if you're interested!
Attached Image (click to enlarge)
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Everything you can imagine, is real - Pablo Picasso
  • #37,611
  • May 18, 2014 9:04pm May 18, 2014 9:04pm
Quoting Direwolf
Hi, I'm back! Hope we're all doing well here. Best wishes from Thailand! It's been an interesting month. Especially meditation training, has to be one of the most difficult exercise I've been though in my whole life. And in my view it's very similar to trading psychology. I'll write something up if you're interested! {image}
Congratulations Direwolf well done
  • #37,612
  • May 19, 2014 12:35am May 19, 2014 12:35am
Quoting lastingwell
{quote}Yes if I'm trading h4 I would look at the daily for a hint, if I'm looking to trade on any timeframe I go to the next timeframe up just to see if its likely to go as far as I want it to. The moves start .............
Thanks very much
  • #37,613
  • May 19, 2014 1:12am May 19, 2014 1:12am
Quoting Gokay
I'm on 4h chart do scalping 5-10 pips maximum
What size stop loss are you using?
  • #37,614
  • May 19, 2014 1:40am May 19, 2014 1:40am
1 pips under the bar that signals
I carry a few pips following the take profit +
usually big move is happening
then consists of more than 10 pips profit
please Experience in demo account
I'm trying ECN brokers and 0.8 spreeds requirement for scalping
not that different
Same rules Trading Made Simple
I thought it was more clear enter signals
  • #37,615
  • May 19, 2014 4:17am May 19, 2014 4:17am
Let's see how this goes
Attached Image (click to enlarge)
Click to Enlarge Name: eurusdh4.png Size: 77 KB
Don’t ever let someone tell you that you can’t do something.
  • #37,616
  • May 19, 2014 4:29am May 19, 2014 4:29am
Really hope this time I got it right from my weekly analysis.

Though previous D1 is up but @ H1 signaled reversal:

1) Double top.
2) Rejection from Fri's high.
3) BEEB.
4) TDI rebounded below MBL.
5) Also a possible weekly down trend continuation after rebound from 38.2% (weekly Fib).

Didn't take blue arrow entry due to previous H4 candle no momentum, so took yellow arrow instead. Yellow arrow entry point is based on TMS H4:

1) #2 HA entry.
2) TDI cross
3) Closed below 5ema.

Feedback welcome, will you take the blue arrow entry point that's earlier than yellow's?
Attached Image(s) (click to enlarge)
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  • #37,617
  • May 19, 2014 4:35am May 19, 2014 4:35am
GBP/JPY H4
Attached Image (click to enlarge)
Click to Enlarge Name: Image2.png Size: 46 KB
  • #37,618
  • May 19, 2014 4:53am May 19, 2014 4:53am
Quoting pastecopy
Really hope this time I got it right from my weekly analysis.
If I may give you my point of view;

Entry was a little late. You could have entered at the close of the blew arrow or even better at a retrace of that candle. No real support for me from higher timeframe either .. But I could be a trade with great potential profit if that weekly uptrend starts a correction. Control your risk, aim for a big profit
Don’t ever let someone tell you that you can’t do something.
  • #37,619
  • May 19, 2014 4:54am May 19, 2014 4:54am
Quoting Gokay
GBP/JPY H4 {image}
hi pastecopy
i am new to this system. can you tell me what is your TP,SL i [email protected] tp 1.6770 sl 1.6859
  • #37,620
  • Edited 5:48am May 19, 2014 5:32am | Edited 5:48am
Quoting pastecopy
Really hope this time I got it right from my weekly analysis. Though previous D1 is up but @ H1 signaled reversal: 1) Double top. 2) Rejection from Fri's high. 3) BEEB. 4) TDI rebounded below MBL. 5) Also a possible weekly down trend continuation after rebound from 38.2% (weekly Fib). Didn't take blue arrow entry due to previous H4 candle no momentum, so took yellow arrow instead. Yellow arrow entry point is based on TMS H4: 1) #2 HA entry. 2) TDI cross 3) Closed below 5ema. Feedback welcome, will you take the blue arrow entry point that's earlier...

GBPUSD week21 19May:

This is going to be tricky as there is price consolidation for many 4-hour periods after that WRB. Best thing to do is to scalp when price is trapped within the high -low of that H4 WRB.
The opportunity is there but we have to wait for a clear breakout trade using that H4 WRB and Master Candle. Always have a Plan A and a Plan B for breakout trading.

The market wont be nice and it is definintely no child's play in this harsh market.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
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