Trading Made Simple | Page 4303 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Monitor for 'Trading Made Simple' system 565 replies

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

Indicators for the 'Trading Made Simple' system 343 replies

MTF Indicators for the 'Trading Made Simple' system 241 replies

Trading Made Simple system follower - Thanks to eelfranz 9 replies

Attachments: Trading Made Simple
Exit Attachments

Trading Made Simple

  • #86,041
  • Jan 28, 2018 12:56am Jan 28, 2018 12:56am
Quoting Divergence
{quote} Don't know who RJ is and I could care less but for someone who has never posted here I think your the one who's lost. I was here to help your here to troll
Divergence if you are so against indicator's, why post in a thread where:
Post 119
On this method the TDI is King. All trades are signalled by it as well as exits...
  • #86,042
  • Jan 28, 2018 5:30am Jan 28, 2018 5:30am
To determine a 5th wave end, the most common method is to take the fibs of waves 0-3 and extend them off of wave 4 end. Look for the 61.8% extension.

It is also possible to zoom in on the wave structures in the 5th wave and using fibs or structure again, pinpoint the end of the 'v'th of the 5th.

If wave 3 was extended, look for wave 5 to equal wave 1.

Now, it's obvious to me that people doubt that reversal points can be plotted or charted to virtually the very pip. I've tried to show otherwise, but people don't want to listen.

Before i go, let me show you a chart of an example;

Attached Image (click to enlarge)
Click to Enlarge Name: IB28-01-18.png Size: 138 KB


So, even if we overlook the fact that a sell could have been taken clean at the line with a small stop, due to wave structure backing up the likelihood of the 61.8% fib being correct.

Let's turn our attention to the ensuing 123. Backed up now with the evidence of the reaction off of the fib, i enter short on the pullback, short at 10,629. SL of 6 pips.
If a crossover or trigger of the 123 gives entry at 10,617. SL is 18 pips, or 3 x the pullback amount.

For the sake of easy mathematics, lets say the risk was £18 on both trades. that's £3/pip on pullback vs £1/pip on trigger/crossover method.
Let's say we exit the trade at 10,600 (we might presume a reaction off of this round number).

£3 x 29 pips = £87 for pullback method (or nearly 5 x risk) vs £18 for trigger/crossover (1 x risk).

Ok, even if the figures aren't accurate... or even if crossover entry was a little bit sooner - well... you get the picture. The earlier you get in to a trade with less risk, the more exponential the growth.

If the argument is that on larger timescales, the points difference between entries becomes less important, than the position size still does.

I am combining EW here with this method, but i think i've shown recently, that even using the just the pullback method, you can pinpoint the likely turning point to within a small handful of pips. That is good enough to not have to worry about losing trades. One winning trade = 4+ losers...
GoFundMe -stage-4-glioma-brain-cancer-fighter (link in my profile)
  • #86,043
  • Jan 28, 2018 8:57am Jan 28, 2018 8:57am
Quoting heispark
You think indicators are useless? You think pure PA only works? {image}
That's half an opinion -could you complete your statement with an example ?

I am interested in what you think is better than pure price action ?
every Saint has a past. Every Sinner has a Future
  • #86,044
  • Jan 28, 2018 12:12pm Jan 28, 2018 12:12pm
Is Emmuel still doing his FX blue view of his trades. Before Christmas he sent out a pm to members to ask for FX blue Id to add to his white list. He took my id but didn't respond with his FX blue url to see his trades. Has anyone got the link? I have asked him but I think he is busy as not replied.
  • #86,045
  • Jan 28, 2018 12:52pm Jan 28, 2018 12:52pm
Quoting nigpig
Is Emmuel still doing his FX blue view of his trades. Before Christmas he sent out a pm to members to ask for FX blue Id to add to his white list. He took my id but didn't respond with his FX blue url to see his trades. Has anyone got the link? I have asked him but I think he is busy as not replied.
i was interested, too and opened an account at FX Blue, sent him my ID but didn´t get it managed to see his account/trades. Or i´m just to stupid to understand the system of FX Blue where i can see his account or trades
  • #86,046
  • Jan 28, 2018 3:21pm Jan 28, 2018 3:21pm
Quoting Sharkoon
{quote} i was interested, too and opened an account at FX Blue, sent him my ID but didn´t get it managed to see his account/trades. Or i´m just to stupid to understand the system of FX Blue where i can see his account or trades
Not used it before but I think a member is given a url something like fxblue.com/users/username to display their page and they can control who has access to it by their fx blue id.
  • #86,047
  • Jan 28, 2018 3:51pm Jan 28, 2018 3:51pm
Quoting nigpig
{quote} Not used it before but I think a member is given a url something like fxblue.com/users/username to display their page and they can control who has access to it by their fx blue id.
yes, Emmanuel asked me and i told him my FX-Useraccount-ID, but then i didn´t know how i can see his trades. Again: i´m not sure with this FX Blue, maybe just my fault and it´s possible somehow
  • #86,048
  • Jan 28, 2018 7:13pm Jan 28, 2018 7:13pm
Hello everyone, does anyone have this indicator that shows how strong the TDI cross is ?
Attached Image (click to enlarge)
Click to Enlarge Name: TDI strenght.png Size: 59 KB
  • #86,049
  • Jan 28, 2018 8:34pm Jan 28, 2018 8:34pm
Quoting The Cableguy
To determine a 5th wave end, the most common method is to take the fibs of waves 0-3 and extend them off of wave 4 end. Look for the 61.8% extension. It is also possible to zoom in on the wave structures in the 5th wave and using fibs or structure again, pinpoint the end of the 'v'th of the 5th. If wave 3 was extended, look for wave 5 to equal wave 1. Now, it's obvious to me that people doubt that reversal points can be plotted or charted to virtually the very pip. I've tried to show otherwise, but people don't want to listen. Before i go, let me...
Hi, I always wonder if there is a "helper" indicator to mark waves. Do you use the ema (or what is the average indicator line you are using) as a guide to mark out each wave? Thanks.
  • #86,050
  • Jan 29, 2018 12:43am Jan 29, 2018 12:43am
Quoting The Cableguy
To determine a 5th wave end, the most common method is to take the fibs of waves 0-3 and extend them off of wave 4 end. Look for the 61.8% extension. It is also possible to zoom in on the wave structures in the 5th wave and using fibs or structure again, pinpoint the end of the 'v'th of the 5th. If wave 3 was extended, look for wave 5 to equal wave 1. Now, it's obvious to me that people doubt that reversal points can be plotted or charted to virtually the very pip. I've tried to show otherwise, but people don't want to listen. Before i go, let me...
Hi Cableguy,
Thanks for sharing the EW information! Much appreciated!

Ken
  • #86,051
  • Jan 29, 2018 4:14am Jan 29, 2018 4:14am
Quoting steven21
{quote} Hi, I always wonder if there is a "helper" indicator to mark waves. Do you use the ema (or what is the average indicator line you are using) as a guide to mark out each wave? Thanks.
Hi Steven,

No, the MA serves me virtually no purpose at all nowadays. I should remove it. I used to use it as a stoploss chase, but now i prefer candle chasing/discretion instead.

------------------------------------------

'Hi Cableguy,
Thanks for sharing the EW information! Much appreciated!
Ken'

No worries Ken!

------------------------------------------

Guys, i can not possibly convey many years worth of EW practice and experience. When i view a chart, my eyes and mind automatically see things in sets (or waves).
It just became tuned in that way over time. Often sets have relationships to each other and if i can share a few 'tricks' with others than it might help someone.

I had an EW thread several years ago now (and my own blog), where i strongly advised against trying to label waves without incorporating Fibs. They will usually prove or disprove a count.

EW is very subjective and also far easier to determine a count after the event. That is why i don't bother labelling every last tiny move. If we can determine ends of 4th waves using the fibs and methods that i have posted a couple of weeks ago, or determine the end of a full 5w set by confirming with fibs and then a reversal pattern, you know what is likely to come next and that is what trading is all about.

The key to all of it, is recognising a pattern which will likely end at the prior Supply/Demand zone.

Here is a couple of examples and also another key fib relationship to look out for;

On the GU;

Attached Image (click to enlarge)
Click to Enlarge Name: GU28-01-18.png Size: 149 KB


Where the last wave is 161.8% of the prior. This works on 4th waves and also 'B' or 'X' waves. Turn your fibs upside down so that the start of the move is at 100% and thus extend your fibs beyond.

On the UJ;

Attached Image (click to enlarge)
Click to Enlarge Name: UJ28-01-18.png Size: 140 KB


Match it up with prior Supply/Demand (or retest of original subwave 'i') and you have a strong probability trade. If it occurs at such, it is a trade off of the line. If it occurs elsewhere, i am more inclined to look for the reaction, then trade the pinbar/engulfing candle or 123 trigger and pullback...
GoFundMe -stage-4-glioma-brain-cancer-fighter (link in my profile)
  • #86,052
  • Jan 29, 2018 5:29am Jan 29, 2018 5:29am
Here's how it all works when added together;

Attached Image (click to enlarge)
Click to Enlarge Name: D29-01-18.png Size: 107 KB


C = 123.6% of A

123, trigger, pullback to start pin, small risk, high probablity... Stoploss to BE
GoFundMe -stage-4-glioma-brain-cancer-fighter (link in my profile)
  • #86,053
  • Jan 29, 2018 6:40am Jan 29, 2018 6:40am
Quoting nigpig
{quote} Not used it before but I think a member is given a url something like fxblue.com/users/username to display their page and they can control who has access to it by their fx blue id.
Hi nigpig,
Was this to do with the $500 account so we could learn a bit more on trading ??
Cheers
Craig
  • #86,054
  • Jan 29, 2018 8:33am Jan 29, 2018 8:33am
Quoting Dridzz
Hello everyone, does anyone have this indicator that shows how strong the TDI cross is ? {image}
go to post 4290 - TDI RED GREEN - I think
Without vision, the people will perish.
  • #86,055
  • Jan 29, 2018 10:31am Jan 29, 2018 10:31am
Quoting The Cableguy
{quote} Hi Steven, No, the MA serves me virtually no purpose at all nowadays. I should remove it. I used to use it as a stoploss chase, but now i prefer candle chasing/discretion instead. ------------------------------------------ 'Hi Cableguy, Thanks for sharing the EW information! Much appreciated! Ken' No worries Ken! ------------------------------------------ Guys, i can not possibly convey many years worth of EW practice and experience. When i view a chart, my eyes and mind automatically see things in sets (or waves). It just became tuned in...
Hi Cableguy,
Can you please sharing the link of your blog?

Ken
  • #86,056
  • Jan 29, 2018 10:31am Jan 29, 2018 10:31am
Quoting kenchk
{quote} Hi Cableguy, Can you please sharing the link of your blog? Ken
in journal section plan the trade
  • #86,057
  • Jan 29, 2018 11:01am Jan 29, 2018 11:01am
Quoting kenchk
{quote} Hi Cableguy, Can you please sharing the link of your blog? Ken
I gave up my blog years ago Ken. As Div says, we now just post in 'Plan the Trade'
GoFundMe -stage-4-glioma-brain-cancer-fighter (link in my profile)
  • #86,058
  • Jan 29, 2018 1:13pm Jan 29, 2018 1:13pm
Today, I have been trading with no indicators looking at EW and supply and demand. I was surprised that I could see PA happening as I was watching as described by Cableguy and Divergence. Thanks to you guys.

Very encouraging to me, to break out of lagging indicators and EAs. The Elliot wave analysis is interesting as it describes or decides how the lagging indicators show in various systems I have tried. I have had a light bulb moment on this. I'm now seeing EW 1-2 everywhere with the longer 3. W4 can be interesting and then the final 5. What I don't know much about are those corrective waves. So much to learn but this is really useful. I always thought supply and demand was just another description of support and resistance. They have a new meaning now.

I think Emmanuel put up a link to EW a few weeks ago. I can't remember how I found this material on Youtube. This is very useful indeed for anyone who is interested.
The Elliot Wave Principle tapes 1-10. These are mostly an hour long each and detailed. Lots of material to think about and learn from.
https://www.youtube.com/playlist?lis...5J1s_diZBxI_31
  • #86,059
  • Jan 29, 2018 1:19pm Jan 29, 2018 1:19pm
Nigpig if you came recognize the 123 your on your way to discovering trend changes
  • #86,060
  • Jan 29, 2018 1:35pm Jan 29, 2018 1:35pm
Quoting nigpig
Today, I have been trading with no indicators looking at EW and supply and demand. I was surprised that I could see PA happening as I was watching as described by Cableguy and Divergence. Thanks to you guys.
Don't get too carried away with labeling everything in 5waves, that's what most people do... just look for Fib correlations, between sets. You'll be absolutely amazed how they work (and people think PA is somehow random!);

Attached Image (click to enlarge)
Click to Enlarge Name: D28-01-18a.png Size: 149 KB


This corrective move in a WXY move was exactly 100% of each other. Coincidence? I think not...
GoFundMe -stage-4-glioma-brain-cancer-fighter (link in my profile)
192 traders viewing now