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Trading Made Simple

Hi guys,

I have been interested in financial markets for 5 years and time to time I tried to invest in forex. All of were failure. I tried also TMS before but it was very little time. I need money that time and I have not courage to stick to this plan. Now, I try to understand and read the posts in this topic. Thanks to great contributors. I will start next week with demo account and try to test my self. Could you please tell your comment for below chart. I guess the short opportunity has come.
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Im trying new way of using this method by combining trend and snd rule to the chart... been trading using this method for month now.. i working hard.. i hope i will be like u guyz a succefull trader 1 day... !
Quoting MoneyTalks58
Hi guys, I have been interested in financial markets for 5 years and time to time I tried to invest in forex. All of were failure. I tried also TMS before but it was very little time. I need money that time and I have not courage to stick to this plan. Now, I try to understand and read the posts in this topic. Thanks to great contributors. I will start next week with demo account and try to test my self. Could you please tell your comment for below chart. I guess the short opportunity has come. {image}
From my limited trading experienced and what I've learned so far with TMS method, if you will trade the Asian session, you need to make sure it already have at least 30 to 40+ pips volatility already, if not look for another pair to trade on. Also, if the price action is not clear or there's no clear trend (APB engulfing bars or TDI crosses rule, etc), then move to another pair for best trade entry or setup. Just make sure you have done enough analysis with your strategy (TMS method, fundamental/TA, etc.) before you enter the trade so that you will have a much better percentage of wins than loses.

Now with regards to NZDJPY, it swings with 60 pips average price range for last three Mondays of the Asian session, and a 15 day ADR (Average Daily Range) of 130 pips. Based on my observation, normally every Monday, verify if the last TDI cross last Friday if it was on a downtrend (Green crosses down the Red line - clear crosses), then the price would likely go down with a pull back between 5 to 15 pips before continuing to a bearish trend before Asian session ends (on or before the European session begins). But once on the Euro Session begins, it depends on the momentum Asian session or weight of the last TDI crosses and the S/R strength.

But at the moment, in my opinion the NZD will be on Bearish trend on the first 3 to 4 hours and after that, it will be on Bullish trend as I am I'm taking into consideration the JPY Bank Holiday and minor news for NZD (please see the attached screenshot below)

So to sum it up, with the JPY bank holiday in mind and minor news,NZDJPY will be on a bullish trend until Asian Session ends.

For me, Asian session begins at the opening of NZD market and then ends before European session.
Attached Image
Since Frank Sinatra sings in his own way, my chart sing... I did it, my way
Quoting v2vboni
{quote} From my limited trading experienced and what I've learned so far with TMS method, if you will trade the Asian session, you need to make sure it already have at least 30 to 40+ pips volatility already, if not look for another pair to trade on. Also, if the price action is not clear or there's no clear trend (APB engulfing bars or TDI crosses rule, etc), then move to another pair for best trade entry or setup. Just make sure you have done enough analysis with your strategy (TMS method, fundamental/TA, etc.) before you enter the trade so that...
We know that trading Forex successfully we need Volatility, especially with Renko Bars. Here is a Volatility tool to help to find the most volatile pairs per day, per hour and weed out the low volatility hours and days of our favorite pairs to trade.
https://www.mataf.net/en/forex/tools/volatility
Enjoy and good luck
True Grit!
Quoting hards
{quote} We know that trading Forex successfully we need Volatility, especially with Renko Bars. Here is a Volatility tool to help to find the most volatile pairs per day, per hour and weed out the low volatility hours and days of our favorite pairs to trade. https://www.mataf.net/en/forex/tools/volatility Enjoy and good luck
Thanks for sharing!
Since Frank Sinatra sings in his own way, my chart sing... I did it, my way
@v2vboni

Thank you for your great review. I am going to wait tomorrow evening. Due to work hours I can look the trades 4h and Daily after London closed.
Quoting emmanuel7788
EURUSD Week 12 trading: This BPP attached should explain that question which I asked in this post#67,162. If you understand this BPP and trade plan, you can either make 200pips or 1000pips over the next 20 trading days.\ I can make 200 pips and still make more money than those who will make 1000pips. Do you want to make 1000pips? Ask if there is anything which you do not understand. Also GBPUSD has a D1 setup last week and you can also trade the pair instead. Please post...
Hi Emmanuel, thanks for sharing your BPP and insight for EU coming week(s).

Currently, i am still studying me/me and not yet trading it. However, i am beginning to piece together the rules and components and was hoping you could comment on the chart attached which depict the potential buy limit orders based on 1/2 ADR 100 and initial stop below March 10th low.

Thanks in advance,
N.

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Quoting emmanuel7788
EURUSD Week 12 trading: This BPP attached should explain that question which I asked in this post#67,162. If you understand this BPP and trade plan, you can either make 200pips or 1000pips over the next 20 trading days.\ I can make 200 pips and still make more money than those who will make 1000pips. Do you want to make 1000pips? Ask if there is anything which you do not understand. Also GBPUSD has a D1 setup last week and you can also trade the pair instead. Please post...
Hi,

Thx for this post!

I included a BPP on GBPCAD. Could you have a look and tell me if I am on the right track?

Furthermore, if it would be the case, do I see it right that you look for 4H swing when you identify consolidating market type (MC(3) / WRB). You would take the trade and look for trade invalidation unless the D1 turns into a setup also. But then practically, do you just keep the trade open and manage as single entry on D1? Or do you now consider this trade a ME/ME position trade?

So would GBPCAD be a good pair to look for a 4H swing long that could turn into a D1 position?

Let me know if I am completly off-track

Best,
Attached File(s)
File Type: docx GBPCAD.docx   165 KB | 198 downloads
I thought I would post My BPP for one my favourite pairs recently...


USDCAD

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USDCAD Monthly breaks upper trend line has broken it good and proper the past week, good day position short potential. This trade also supported by Dollar weakness and CAD strength due to Oil.
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USDCAD daily shows no real problems in terms of wide range bar's to worry about, so we can sell at the start of next week. expect a possible test of trend line which give us an opportunity to ME.ME and build a position..
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It's in fear when people show what they truly value.
Quoting ensale
I thought I would post My BPP for one my favourite pairs recently... USDCAD {image} USDCAD Monthly breaks upper trend line has broken it good and proper the past week, good day position short potential. This trade also supported by Dollar weakness and CAD strength due to Oil. {image} USDCAD daily shows no real problems in terms of wide range bar's to worry about, so we can sell at the start of next week. expect a possible test of trend line which give us an opportunity to ME.ME and build a position.. {image}

Hi ensale,

Thank you for sharing your USDCAD BPP.

USDCAD is in a major correction of the monthly up trend.
And looking at the Weekly, it has already ran 7 weekly candles after that W1 setup.
To be on a safer side, I would be waiting for a retracement and avoid jumping into the market when this week open.
D1 ' TDI VB is narrowing indication that the price momentum has reduced significantly. the past 10 D1 candles.
H4 TDI is in the oversold OS region and this will be tempting many H4 traders to buy which can bring price up. Wait here!

After the big economy central banks rates were released the previous weeks, we see a weaker USD among the majors.

see my comments on chart below.

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Trade Well and Trade safe.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
Quoting tibovwh
{quote} Hi, Thx for this post! I included a BPP on GBPCAD. Could you have a look and tell me if I am on the right track? Furthermore, if it would be the case, do I see it right that you look for 4H swing when you identify consolidating market type (MC(3) / WRB). You would take the trade and look for trade invalidation unless the D1 turns into a setup also. But then practically, do you just keep the trade open and manage as single entry on D1? Or do you now consider this trade a ME/ME position trade? So would GBPCAD be a good pair to look for a 4H...

Hi,

your BPP doc is GBPNZD but your post says GBPCAD...

that GBPNZD Weekly WRB has been 'detached' from the previous week' seller, if you had not noticed that.

that W1 WRB had a range of 950pips, which you can trade D1 and H4. use that WRB High - Low as support and resistance and find trades.

be clear about your trading rules for 4H swing trading and for D1 position trading.
one of my rule for 4H swing trading is I close all my trades before NY close on Fridays..."Time Exit".
with the exception if there is possibility that I can convert my H4 trade to a D1 position trade before Friday Time Exit. This is trading the HTF which you must have been prepared in your BPP and trade plan ahead in time.

Right now, between 2.1400 and 2.1500 look resisting the buyers, but between 2.145 and 2.170 needs to be filled.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
Quoting Nik-Nyc
{quote} Hi Emmanuel, thanks for sharing your BPP and insight for EU coming week(s). Currently, i am still studying me/me and not yet trading it. However, i am beginning to piece together the rules and components and was hoping you could comment on the chart attached which depict the potential buy limit orders based on 1/2 ADR 100 and initial stop below March 10th low. Thanks in advance, N. {image}

Hi Nik,

Your 4K display sure creates a lot of bytes in the graphics files.

Anyway, I just manage to cut only the relevant portion and made my comments on it. See below.

The order distance between each ME trade can be simplified to just 50pips. We do not need to be precise because we want to get an overall better entry pruce with maximum 5 ME trades. This is the only comment I have.

The other comments are technical which i wrote on the chart attached below.

There are several system components on ME/ME money management strategy. I will PM you separately so that these will not add confusion to the situation as it is now.

regards,

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

I'm still reading the full thread but 3364 pages to read takes time ...
I hope you will not mind my question.

For confirmation, would you recommend the stochastic slope indicator or the stochastic indicator?

As for the stochastic slope indicator, I downloaded the one provided in the beginning of this thread (post #25 maybe?) but I'm not sure on how to read it ...

Does anybody know the meaning when the curve turns red or green?
Quoting ChrisJP
Hi, I'm still reading the full thread but 3364 pages to read takes time ... I hope you will not mind my question. For confirmation, would you recommend the stochastic slope indicator or the stochastic indicator? As for the stochastic slope indicator, I downloaded the one provided in the beginning of this thread (post #25 maybe?) but I'm not sure on how to read it ... Does anybody know the meaning when the curve turns red or green?

Hi,

It will only take you 68 hours to read the most important posts in this thread.

Trading Made Simple for beginners : Post#52,707

But you if you want to read all 67,275 posts, that will take you 8.625 years. I won't do that.

You need only to use the platform provided Stochastics indicator set to 8,3,3. The Stochastics slope has nothing to do with Big E' 5-Method.

Two very important posts: Post#261 and Post#647, give a simple summary of what this 5-Method is and the basic forex stuff we check before we look for the TDI setups to trade.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
Quoting emmanuel7788
Hi, It will only take you 68 hours to read the most important posts in this thread. Trading Made Simple for beginners : Post#52,707 But you if you want to read all 67,275 posts, that will take you 8.625 years. I won't do that. You need only to use the platform provided Stochastics indicator set to 8,3,3. The Stochastics slope has nothing to do with Big E' 5-Method. Two very important posts: Post#261...
Wow, I was expecting something like "what!? come back only after you've read everything!!"

Thanks a lot!!!

Side question ... In the latest pages, I saw "BigE" used a lot ... is BigE the nickname for Eelfranz?
Sorry if it's a stupid question ...
Quoting catalin_eros
{quote} So if you used the MN S/R for TP on UJ (or the low of W1 WRB), then where does the W1 52 ATR come in place as TP? What am I missing? What is your way of defining targets: 52 ATR or MN S/R? I would also like to receive the answer for the previously asked question: 'since I entered based on two elements, should my exit be based on two elements as well?" Thanks in advance, Emm!

Hi,

please write all these on a chart otherwise it is very difficult for me to read your post and try visualize what you are saying on my chart.

it is best your write on your chart so that I can also see what you see and also you have other stuff on your chart, it create a visual bias. best is to use the basci TMS template without other stuff.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
Quoting antonym
{quote} Hello emmanuel, Thank you for the explanation. I am glad that I have the same bias on euro as yours. So I should open a buy trade (1/5 unit) when H4 TDI cross up, and placed my SL at the WRB low. Then look for adding in entries every time it move down 1/2 ADR. Could you confirm that I am correct in my understanding of ME/ME method? How about the Mar 16 low you mentioned? When does that stoploss come into play? Thank you. {image}

Hi,

the Stop Loss below Mar16 Low is for those who trade with Single Entry. If they use the 2-day look back, then their stop loss will be below Mar17 low and that is too close to today' day open entry. You must notice that Friday Mar 18 is an Inside Bar....

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
Quoting emmanuel7788
{quote} Hi Nik, Your 4K display sure creates a lot of bytes in the graphics files. Anyway, I just manage to cut only the relevant portion and made my comments on it. See below. The order distance between each ME trade can be simplified to just 50pips. We do not need to be precise because we want to get an overall better entry pruce with maximum 5 ME trades. This is the only comment I have. The other comments are technical which i wrote on the chart attached below. There are several system components on ME/ME money management strategy. I will PM...
Hi Emmenual,


Thanks for giving a very clear example of M Entry system.

I may be wrong

But as per my understand, in this scenario we need to have around 17K equity to trade even a minimum lot (0.01 Lot) .

I assumed 1pip =$10 for a STD lot (100K). so for 0.01 lot 1 pip is 10 cent. and total pips distance to SL for all 5 entries is over 1700 pips. Which about $170 and 170 is equal to 1 % than required capital is 17K.

Please correct me if I am wrong.


Thanks

MK

MK
Quoting mkfx
{quote} Hi Emmenual, Thanks for giving a very clear example of M Entry system. I may be wrong But as per my understand, in this scenario we need to have around 17K equity to trade even a minimum lot (0.01 Lot) . I assumed 1pip =$10 for a STD lot (100K). so for 0.01 lot 1 pip is 10 cent. and total pips distance to SL for all 5 entries is over 1700 pips. Which about $170 and 170 is equal to 1 % than required capital is 17K. Please correct me if I am wrong. Thanks MK MK

Hi,

Why not you put these down into a spreadsheet to show how you arrived at 17k equity.

thanks

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
Quoting ChrisJP
{quote} Wow, I was expecting something like "what!? come back only after you've read everything!!" Thanks a lot!!! Side question ... In the latest pages, I saw "BigE" used a lot ... is BigE the nickname for Eelfranz? Sorry if it's a stupid question ...
yes, eelfranz is Big E also know by his first name Eric...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
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