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Trading Made Simple the right way, and other trading lessons 334 replies

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Trading Made Simple

Quoting emmanuel7788
{quote} @lyncc That's one of my favourite TOP TEN price action setups - 5bar swing low and True REVERSAL trade setup following the NFF system mentioned in the old thread. If you have the Stoch (8,3,3) it will confirm that setup. Your RSI green price line show a 'check mark' which is good to confirm the 5bars swing low and True REVERSAL. There are other price action elements I see on your chart to support that buy trade. {image} ... ...
There always will be price action elements to any trade, I never said I trade the TDI cross blindly, it would be as bad as taking just price action elements blindly, they also fail a lot. My point is, if you have all of it together, price action and TDI along with a higher timeframe confirmation, then you have a more than 50% chance of being right.
Quoting lynnc
{quote}There always will be price action elements to any trade, I never said I trade the TDI cross blindly, it would be as bad as taking just price action elements blindly, they also fail a lot. My point is, if you have all of it together, price action and TDI along with a higher timeframe confirmation, then you have a more than 50% chance of being right.

@lyncc

very good!

everything which the OP posted have always many price action elements on his charts including the basic forex stuff he mentioned in his post#647.
many new traders will not see all the price action elements so easily therefore I am here here to help them . You can help them too and we can all make money together.

let's have more robust discussion here and focus on more price action elements to help others reading this thread.

...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
Someone has just asked me why I kept a hold of the AU buy this morning. It looked to me like price had broken out of its consolidation on H4 and came back to retest it. When it didn't manage to close back inside, or close below the weekly R38 also showing an inverted hammer, I decided to stay in.
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The reason for choosing GU over any other currency pair today was we are in an uptrend at the moment on H4 price retraced and failed to close below the weekly R78 and then the other factors on m15 made the decision for me.
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Quoting emmanuel7788
{quote} Here is today' example of H4 - we have a M30 DBLHC alert during the current H4 candle - is this the LTF setup to buy? {image} ...
Good morning at least from my time!
This set up looks like a buy however im more bearish on this pair and would not trade 30 min .

Yesterday after CPI i got very exited and feel im to overconfident with trading that's coming up, so decided to take a break from trading to not make mistakes because of it.
Checked the 4hr charts as i woke up now GU EU AU buy setups but in this 4hr candle there will be pmi that idk how it will react.
Usually wake up at 7am my time now woke up 12am

Ganna try EA to see its signals but ganna set it up on 4hr to see if it agrees with me, but mainly manual trading.

Happy day of tradding!
XAU Jul12 M15 London 10:30am

- sell with small stop loss

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...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
Quoting j4yman
First charts trying this new method for me, how do these trades look? From what I've read so far, they look textbook... All feedback welcome! TIA {image} {image} {image}
Sadly was down on all 3 of these trades, not sure what I did wrong. Going to go back and analyse them a bit deeper later on.
Quoting j4yman
{quote} Sadly was down on all 3 of these trades, not sure what I did wrong. Going to go back and analyse them a bit deeper later on.
AU and Ucad were both taken against the trend of the higher timeframes.
Its not clear where you entered EurAud but if you had put your stop loss below the low then you should still be in it.
Quoting j4yman
{quote} Sadly was down on all 3 of these trades, not sure what I did wrong. Going to go back and analyse them a bit deeper later on.
hi @j4yman

I will let your do your own post-mortem POMO for these three trades.

I will wait for New York to close today at 5PM , then I will share with you what you need to do and be better prepared form next week.

Looking at your clean charts, I am sure next week your will be able to pick the best pairs and to trade the 4Hr and Daily like the OP said in his post #281.

Take Care for now. No more 4Hr trades today, its Friday and we have US PMI data release.... post #7622

Stay Tuned for weekend homework


...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
Quoting lynnc
{quote}AU and Ucad were both taken against the trend of the higher timeframes. Its not clear where you entered EurAud but if you had put your stop loss below the low then you should still be in it.
To me the 4Hr of the day is very clear on his charts.

Very common mistakes I have seen in the last 12+years made by new traders over and over again.

Its not easy ... for newbie traders and beginners. ... post #3805.

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And I have a simple solution for new traders and beginners.

Stay Tuned !
...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
Quoting lynnc
{quote}AU and Ucad were both taken against the trend of the higher timeframes. Its not clear where you entered EurAud but if you had put your stop loss below the low then you should still be in it.
I did look at the higher time frame (daily) to check the trend but if I’m being honest, I ignored what I saw and entered the trade anyway because I was eager lesson learned!
Quoting emmanuel7788
{quote} hi @j4yman I will let your do your own post-mortem POMO for these three trades. I will wait for New York to close today at 5PM , then I will share with you what you need to do and be better prepared form next week. Looking at your clean charts, I am sure next week your will be able to pick the best pairs and to trade the 4Hr and Daily like the OP said in his post #281. Take Care for now. No more 4Hr trades today, its Friday and we have US PMI data release.... post...
Thanks, I look forward to it!
Quoting tommydoginti
{quote} Hi ZeruSwee, I am travelling and using mobile to trade and post. I found that your chart is GU earlier this year. So lemme comment in detail. {image} As of BigE’s post #647, when looking at the chart, expect the price to form a swing of 3-8 candles (of same HA candle colour), until price reverses/consolidates forming high and lows. {image} These previous highs and lows can help you determine trend. My suggestion is go for the clean formation first. For instance, if HHHL/LHLL breaks, or when TDI retraces from 32/68 level (BigE’s favourite...
Hi Tommy,
hope its okey for me to call you Tommy, do feel free to call me Zeru.

i think now i understand the market structure, Hopefully this is correct.
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Is this correct ?
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Or this ?
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Also had question Related to your last reversal, does it have to be in pivot Low/High, or recent Reversal
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And some question Related When do you exit and TP. i saw you have a lot of Break even in your Trade Records
So At what Condition do you Place Breakeven?
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Generally this may be the sum of what confusing me on the Strategy.

Thank you for the great reply.

enjoy your Trip,

Trade well too
Quoting lynnc
{quote}I think people know what I'm saying, without the real time charts, but seeing as you have at last posted a chart with actual trades on, so will I. {image} {image}
Hi Lynnc,

Buying at lows is the way to go.

TDI cross up
HHHL as uptrend

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Quoting j4yman
First charts trying this new method for me, how do these trades look? From what I've read so far, they look textbook... All feedback welcome! TIA {image} {image} {image}
Just following a few of the TMS method elements for your reference.

BigE’s post 647
Your safest trades will always be when green crosses red and you enter on candle 1 or 2... odds are in your favor. Why? Because I'm expecting 3-8 candles... which is average...

With bounce trades the odds are lower for your success... but it still works.

When wanting to enter a TDI trade... take a moment first to observe basic 4x things... like:

How close am I to the previous high or lo

Am I in an uptrend or downtrend.. short & long term...

Am I in or close to a consolidation area

Are the previous candles small...

Look at the candles on the last reversal... big, little, what

AUDUSD. HHHL confirms buy TMS setups with TDI cross up. Only sell when LH forms or at significant prev H rejection
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Lynnc was correct that you are trading against the trend. While TMS also trade countertrend, you should look out for last reversals and if the price level has been retested and unable to reverse. This hints possibility of consolidation or trend continuation.
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trade well and have a nice weekend. Greetings from Japan with some A5 Waryu
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Post-PMI

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EU

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...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
Quoting emmanuel7788
Post-PMI {image} EU {image} ...
Quoting eelfranz
/// Even if I scalp the market I use 4hr charts with success.... 4hr charts have less noise, less head fakes, less influence by any news. Just has a lot of benefits... The key to building confidence is to study old charts... look at the TDI moves and how it looks on PA so every time you see that same set up you will know your odds for success are high.

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...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
Quoting eelfranz
/// Even if I scalp the market I use 4hr charts with success.... 4hr charts have less noise, less head fakes, less influence by any news. Just has a lot of benefits... The key to building confidence is to study old charts... look at the TDI moves and how it looks on PA so every time you see that same set up you will know your odds for success are high.
PMI data released:

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...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
Quoting eelfranz
Even if I scalp the market I use 4hr charts with success.... 4hr charts have less noise, less head fakes, less influence by any news. Just has a lot of benefits... The key to building confidence is to study old charts... look at the TDI moves and how it looks on PA so every time you see that same set up you will know your odds for success are high.
Another possible to scalp this 4Hr candle post_PMI


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UChf

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..





...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
Quoting emmanuel7788
{quote} PMI data released: {image} {image} ...
After looking at pmi resistance from the three amigos went in and sitting in some nice pippies thinking to stay or leave with a very juicy scalp
Quoting emmanuel7788
{quote} Another possible to scalp this 4Hr candle post_PMI {image} UChf {image} .. ...
Bro, Seems like u automate the TMS system. Where u get this EA pls... Can u share??
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