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Trading Made Simple the right way, and other trading lessons 233 replies

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Trading Made Simple system follower - Thanks to eelfranz 9 replies

Trading Made Simple

@Tekkies



***When you trade green line cross red line, you rely on PURE LUCK.

You need skills to change your Average Win / Average Loss.

You immediate target should be to work on you Avg Losing Trade %:

Win Rate : 82.6%
Average Winning Trade 0.7%
Average Losing Trade -0.7%

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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
Quoting eelfranz
Gettin' ready to hit it. Keep our method simple and don't complicate it. This is one of the easiest ways to make money in the forex. Good luck this week. {image}

Good luck this week.


Quoting eelfranz
Don't get fired ! Just make the necessary transition to trading 4hr charts during the London session... or Daily charts.

Quoting eelfranz
If any of you know something BASIC about trading the forex... that's helped you... post it for the benefit of others.. We have many newer traders it can help.
Quoting eelfranz
Alright all you party animals trying to recover from last night... or longer... Last couple of pages has covered many different topics... well, touched base anyway.... 2scoops... on post 2594... 2scoops asked me a long time ago what would be the most beneficial to learning this method for higher success... The answer was simple... study old charts for set ups... now strip down everything on that chart at that point... trends, angles, S/R levels, News times, Stoch angle within the 20-80 lines..etc. Burn it into your memory... I spent 2 years doing that.... so what does that mean? It takes me 15 seconds to strip a chart down to nothing including the TDI & Stoch's. Taking clean trades is a breeze for me... why? Read above... I can take you to water but I can't make you drink... follow the simple entry & exit rules. Forget other indicators. I went down those roads so you wouldn't have too... There is a handful who trade it correctly here who are rewarded nicely...
2scoops asked me a long time ago what would be the most beneficial to learning this method for higher success... The answer was simple... study old charts for set ups... now strip down everything on that chart at that point... trends, angles, S/R levels, News times, Stoch angle within the 20-80 lines..etc. Burn it into your memory... I spent 2 years doing that.... so what does that mean? It takes me 15 seconds to strip a chart down to nothing including the TDI & Stoch's. Taking clean trades is a breeze for me... why? Read above... I can take you to water but I can't make you drink... follow the simple entry & exit rules. Forget other indicators.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
Dow Jones during the asian session,that was a great scalping setup.
Hang Seng Index might also form a good short setup soon,must watch the waves and spikes,and find a good top if it happens of course.
Something above 29550 pts could construct nice waves and zones to short on the HSI, only to scalp short term.
One might argue why don't we buy if we are expecting new highs and waiting to short, to simply put it is against the markets nature in my view,one must sell the highs and buy the lows, we do not fight to create a road for the market, we only enter at the profit taking points. So when we enter the trade,it should be the markets profit taking point,that is the reason we don't wanna buy heavy random dips for example,it can work but for how long? Shorting the dip rebound is a lot easier to me. We must let the markets wave and show us the stopping point.

Also a note on not traded XAUUSD action and how it would have been traded if X scenario happened, pic is attached below. And the explanation is on the screen.

The biggest benefit of this approach is simply the markets will always wave,and we hide our position in one those waves and it was unpredictable.
If something is unpredictable,and not traded by the most,or it is a thinking zone if you will,it will wave up and down. Thus we will have enough time and reach a point to exit with profits.
Because as you can see it is really contradictory to what most traders do,instead of trying to find the direction we simply setup an ambush to the markets and let it do it's work. Also the R:R is around 5:1+ that means in order to get stopped out the markets should spike even further, or spike suddenly before we collect out or profits,which is unlikely in most of the scenarios since we will be exiting quickly and we are in one those market waves hiding in it and also decided to build positions after the spikes or breakouts.

When I'm satisfied,I'll stop.
That's it from me today,a quick observation of the market is always good and fun,best wishes.
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Quoting DrDave
{quote} Wait a minute. Does that mean that all of that PURE LUCK that I rely on for all of my analyses and trading is also off of the discussion table??
@DrDick/@ivan9578/@DrDave -- "all of your analyses"? Posting comments to yourself is your form of analysis? Your IMT Academy thread isn't exactly drawing much attention these days, is it? The only comment in the past two weeks besides yours was from @PixelSniper -- and even he said your "magnet" approach was too much work. Maybe it's because people don't find much use for what you have to say or consider those funky TFs of yours more a reflection of your need to be different than actually providing any added value.

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Quoting robots4me
{quote} @ @PixelSniper -- and even he said your "magnet" approach was too much work. Maybe it's because people don't find much use for what you have to say or consider those funky TFs of yours more a reflection of your need to be different than actually providing any added value. {image}
Well, I stated that it is too much work for me. Some people like to go all through that and make in depth analysis and so on.
I'm a silly scalper afterall.
But in fact, DrDaves approach is some sort of unique and not so easy to grasp thus: it's confusing when you first stumble upon it,just my opinion.
Learning TMS is not so unusual and can be done in an hour for instance,it is very simple just as the author states.
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Quoting PixelSniper
{quote} Well, I stated that it is too much work for me. Some people like to go all through that and make in depth analyses and so on. I'm a silly scalper afterall. But in fact, DrDaves approach is some sort of unique and not so easy to grasp thus: it's confusing when you first stumble upon it,just my opinion.
@PixelSniper -- thanks for your response. My apologies for dragging you into the exchange we're having -- that wasn't my intent. As his personal troll, my role is to keep @DrDick/@ivan9578/@DrDave on his toes and let him know though his IMT Academy thread may be lonely, he has not been forgotten...
  • Post #115,247
  • Quote
  • Edited Jan 19, 2021 1:09am Jan 18, 2021 10:12pm | Edited Jan 19, 2021 1:09am
Quoting robots4me
{quote} @PixelSniper -- thanks for your response. My apologies for dragging you into the exchange we're having -- that wasn't my intent. As his personal troll, my role is to keep @DrDick/@ivan9578/@DrDave on his toes and let him know though his IMT Academy thread may be lonely, he has not been forgotten...
No worries I enjoy to chit chat mad men of this island.

#HangSengIndex,HK50

A real time action with entry and exit on the chart, based upon the speculations made couple of hours ago.
Time to take a nap..
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Look beautiful.
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So we should not wait for candle close. Takkies is right here. He doesn't wait for candle close.

BigE post

Top of the morning to my dear friends. Can't smell or taste yet but feel better..

Why do I suggest entering at the BEGINNING OF CANDLE 1 OR 2 INSTEAD OF THE END. Go back and look at any 1hr or 4hr chart. HOW MANY CANDLES AVERAGE PER REVERSAL?

The sooner you get in the higher your adds.... sure you will have a few losses here and there. So what...
Hi,
two trades at the moment.
EUR/GBP H1
GBP/CHF H1

Update:
Both trades closed: Partial profit taken +5 Pips, +15 Pips, then SL moved to BE, SL hit now.
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Quoting PixelSniper
{quote} Well, I stated that it is too much work for me. Some people like to go all through that and make in depth analysis and so on. I'm a silly scalper afterall. But in fact, DrDaves approach is some sort of unique and not so easy to grasp thus: it's confusing when you first stumble upon it,just my opinion. Learning TMS is not so unusual and can be done in an hour for instance,it is very simple just as the author states.
Actually, IMT mainly uses old ideas that are easy to grasp, but presents them from a different perspective.

A Weekend analysis for the coming week takes about 10-15 minutes per pair. An update during the week takes about 5 minutes. In real time, there is no need to make an updated analysis because you do it on-the-fly as moves progress and the focus TF moves.

Compare that to the TDA that the ToxicFakeTrader has posted where he draws S/R lines on Monthly, then Weekly, then Daily. How long does that take? And THAT line drawing process is just the START of the convoluted analysis that he goes through. Look for "master candle", mother bars, wide range bars, and on-and-on. Is it any wonder that no one reports any success stories from that?
The markets are speaking to you. Do you know their language?
Quoting DrDave
{quote} Actually, IMT mainly uses old ideas that are easy to grasp, but presents them from a different perspective. A Weekend analysis for the coming week takes about 10-15 minutes per pair. An update during the week takes about 5 minutes. In real time, there is no need to make an updated analysis because you do it on-the-fly as moves progress and the focus TF moves. Compare that to the TDA that the ToxicFakeTrader has posted where he draws S/R lines on Monthly, then Weekly, then Daily. How long does that take? And THAT line drawing process is just...
If the person you are referring to is emmanuel, yeah. His approach is just too much stuff in it, I would not even bother. It is TMS but in year 3054 fighting the intergalactic invaders from galaxy blue frog,planet sirius Y.
But well again then, it might be due to his 10 years of exp.
Personally I don't believe in candlestick formations,imaginary S/R lines anymore.So mother bars,range bars,even heiken ashi I have zero interest in them, thus: I skip and don't even read his additions to this thread in all honesty,but well again everyone got their own way and I could not care less you know.
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Let's have a look at EURGBP

The IMT multi-TF oscillator makes it clear that the H4 is cycling to the H16 up swing.

The up cycling is very clear, with price ending at a higher high. Now down cycling has begun for the pullback on the H16.

The H8 remains up. Will be watching to see if it turns down with the H4 during the pullback.

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The H8 remains up. Will be watching to see if it turns down with the H4 during the pullback.

H8 did indeed remain up during the H4 pullback, so there was a buy continuation on H4.
The markets are speaking to you. Do you know their language?
Quoting DrDave
{quote} Actually, IMT mainly uses old ideas that are easy to grasp, but presents them from a different perspective. A Weekend analysis for the coming week takes about 10-15 minutes per pair. An update during the week takes about 5 minutes. In real time, there is no need to make an updated analysis because you do it on-the-fly as moves progress and the focus TF moves. Compare that to the TDA that the ToxicFakeTrader has posted where he draws S/R lines on Monthly, then Weekly, then Daily. How long does that take? And THAT line drawing process is just...
@DrDick/@ivan9578/@DrDave -- yes, your IMT Academy thread tells us everything we need to know about your analysis. 15 minutes x 28 pairs equals 7 hours. You spend your weekends like that? And after all that analysis you still post hindsight charts that don't show trades? I think most of us get the picture...

Oh, yes, the past two weeks of your IMT Academy thread...

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Ethereum H4
Stress free now let it run...........

Green pips to everyone. Cheers
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Quoting DrDave
Let's have a look at EURGBP The IMT multi-TF oscillator makes it clear that the H4 is cycling to the H16 up swing. The up cycling is very clear, with price ending at a higher high. Now down cycling has begun for the pullback on the H16. The H8 remains up. Will be watching to see if it turns down with the H4 during the pullback. {image}
@DrDick/@ivan9578/@DrDick -- and what does this have to do with TMS and preserving BigE's wishes and legacy? Another promo for IMT Academy? Poor @Tekkies -- what will she think when she sees this. She'll probably blow a gasket...
#HangSengIndex,HK50 has a lot of movement today so let's take a look at that.

I thought this could be a good place to long but did not really enter the trade.
The idea is to find the place where the sellers would exit / take profits.
It is similar to what I shared previously,instead of buying the dip it is better to short the profit taking points of a dip.
So kinda wanted to apply same logic here,the price is still high but it is low for the shorters if you will.
Bed time,enough game. Best luck people.
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Quoting PixelSniper
#HangSengIndex,HK50 has a lot of movement today so let's take a look at that. I thought this could be a good place to long but did not really enter the trade. The idea is to find the place where the sellers would exit / take profits. It is similar to what I shared previously,instead of buying the dip it is better to short the profit taking points of a dip. So kinda wanted to apply same logic here,the price is still high but it is low for the shorters if you will. Bed time,enough game. Best luck people. {image}
@PixelSniper -- after nearly 400 posts you have one subscriber -- a new member who has never posted. Take a hint -- you aren't adding any value. Listen, participate, learn -- that's all good. You know perfectly well that few, if any, can trade HSI. We're not chatting -- you're posting to a trapped audience that can't get away from you.
Quoting robots4me
{quote} @PixelSniper -- after nearly 400 posts you have one subscriber -- a new member who has never posted. Take a hint -- you aren't adding any value. Listen, participate, learn -- that's all good. You know perfectly well that few, if any, can trade HSI. We're not chatting -- you're posting to a trapped audience that can't get away from you.
Well the trapped audience is lucky then,there is not much to show anymore,it will be the same patterns and setups repeating themselves.
So I'm done already.
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Quoting hasib
{quote} Today I have done my gold analysis for the next week. you said you can't do IMT analysis without a chart. so I post this 5TF chart do some IMT analysis. {image} {image} {image} {image} {image}
Now that hasib has finally moved on, here are some excerpts from my XAUUSD analysis.

The big TFs, several months out, have this pair in an up trend.

MN1 is making a pullback, confirmed by W1, W2, W4.

W1 has more room to continue down, but there will be smaller TFs making rallies, then down continuations to bring it further down.

H4/H8 have already started the upswing for developing the rallies on D1 (D2, D4).
The markets are speaking to you. Do you know their language?
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