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Trading Made Simple

  • #86,621
  • Apr 18, 2018 8:17pm Apr 18, 2018 8:17pm
For those of you with daytime jobs , you can trade the Daily chart timeframe.
If you scan through all 28 pairs everyday you will find 3 to 5 good trades set-up using the price volatility using the 5SMMA High Low aka the Price Action Channel PAC.

Entry and Exits are simple to follow and are very clear.
Avoid taking trades when the price and HA candle is within the PAC High-Low. You can miss a few trades but it is okay because the rules are clear and you follow your basic rules with strict discipline.

As you gain more experience, you will learn how to see the price action with the price bars and then with more knowledge and trading experience, yiu will learn and be able to take more trades with price action and manage your trades better.

Start with the CONSERVATIVE approach then slowly move one to be AGGRESSIVE as you gain more trading experience. This has been my message for many years specially for newbies and new traders following this TMS 5-Method thread.

Pay attention to details on the chart below. Write down what you see and learn especially on when not to trade.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD Trades with 5SMMS PAC.png Size: 87 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #86,622
  • Apr 19, 2018 2:18am Apr 19, 2018 2:18am
Following on from yesterday's post where I entered a buy very early in the TMS setup and as you can see below, if I had waited then the trade was not there ... the H4 bar #1 was blue and did make a new high but then closed near the lows (so at best it was a scalp). The colour change was blue but the size of the bar was not big enough. You could also say that the EU pair is trading in consolidation but then it has been for a while (see D1 and W1 charts), however, the trading range is 200 pips so personally I will buy/sell any signals given. I still have the small position as I was not stopped out but that is luck more than judgement.

I am posting this as it may help others with entry decisions/set-ups. i.e. it is usually better to wait for H4 bar #1 to close before taking a position or at the very least wait until the last hour of the bar time and use the H1 chart as a guide.
Attached Image (click to enlarge)
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All for one and one for all
  • #86,623
  • Apr 19, 2018 2:27am Apr 19, 2018 2:27am
Interestingly while I was typing the above post this happened (London openeing) .... I post this because the screen shot shows a potential TDI Green Line bounce off the Red Line .... again when should you buy because right now it looks very pretty! Well, as before in my previous explanation, it is probably better to wait for the current H4 bar to close or at least wait for the last hour of the H4 bar using the H1 chart as a guide.

So, two examples ... the first is a 'cross' setup and the second a potential 'bounce' setup. Hope this helps.
Attached Image (click to enlarge)
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All for one and one for all
  • #86,624
  • Apr 19, 2018 4:07am Apr 19, 2018 4:07am
Quoting Tekkies
{quote} I don't trade that pair. Never bother to follow up on what have been posted. So did not understood the meaning of "great trade". {image} Lucky prediction? I don't know. What I do know is that BigE's method does work. There is no need for all the ekstra stuff that has been posted over the years. Use only BigE's post's and understand what he is posting about. {image}
Order from last night
Attached Image
  • #86,625
  • Apr 19, 2018 4:35am Apr 19, 2018 4:35am
Quoting Tekkies
{quote} Order from last night {image}
I was thinking about dropping HA Candles yesterday night and now I just found out that you are already not using them, It's really great to "smooth" everything but I usually like to see the real PA, and with the HA candles sometimes I think price is doing something and is just the opposite.

By the way, I see you didn't wait for candle to close, I assume you entered on TDI touch after the rejection of the formed resistance, did you analyse any other TF?

Good pips you took there
Building a Freedom All Time Return: 5,178.8%
  • #86,626
  • Apr 19, 2018 4:45am Apr 19, 2018 4:45am
I'm at work and cannot trade (SHIIIT) but EURGBP should be setting up nicelly for a good trade!

If someone can post a chart we all will see it
Building a Freedom All Time Return: 5,178.8%
  • #86,627
  • Apr 19, 2018 5:03am Apr 19, 2018 5:03am
Quoting Tekkies
{quote} Order from last night {image}
I'd say that's a low probability trade.. you should know it by now. Anyway, anything can happen in the market and good luck to this trade...
Simplicity is the ultimate sophistication - Leonardo da Vinci
  • #86,628
  • Apr 19, 2018 5:05am Apr 19, 2018 5:05am
Quoting J1mm
I'm at work and cannot trade (SHIIIT) but EURGBP should be setting up nicelly for a good trade! If someone can post a chart we all will see it
Here's EG charts ... other than the daily chart not much to be excited about. Movement driven by GU volatility after poor Retail Sales numbers... be careful. Maybe wait for end of day before pulling the trigger...
Attached Image (click to enlarge)
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All for one and one for all
  • #86,629
  • Apr 19, 2018 5:10am Apr 19, 2018 5:10am
Quoting J1mm
{quote} I was thinking about dropping HA Candles yesterday night and now I just found out that you are already not using them, It's really great to "smooth" everything but I usually like to see the real PA, and with the HA candles sometimes I think price is doing something and is just the opposite. By the way, I see you didn't wait for candle to close, I assume you entered on TDI touch after the rejection of the formed resistance, did you analyse any other TF? Good pips you took there
Yes, real PA is important but don't under-estimate the power of HA's, the latter helps with decision making (colour change, size of body, trend, etc.) .... I use both. Overlay the PA bars on the HA chart, then you have the best of both worlds.
All for one and one for all
  • #86,630
  • Apr 19, 2018 7:53am Apr 19, 2018 7:53am
has anybody here tried TDI with renko charts?
  • #86,631
  • Edited 10:19am Apr 19, 2018 8:02am | Edited 10:19am
Quoting sorostrustfu
has anybody here tried TDI with renko charts?
Post 83,753

Quoting J1mm
{quote} I was thinking about dropping HA Candles yesterday night and now I just found out that you are already not using them, It's really great to "smooth" everything but I usually like to see the real PA, and with the HA candles sometimes I think price is doing something and is just the opposite. By the way, I see you didn't wait for candle to close, I assume you entered on TDI touch after the rejection of the formed resistance, did you analyse any other TF? Good pips you took there
Alwys try for the begin of a bar.
#6
Entries and exits...
We Enter a trade when green crosses red on the TDI at the beginning of that candle.

Took the extra sell's order after London open this morning. NY open could not break the strong support, so after +- 8 houer of a trend that is going nowhere it is time to close orders.

other TF
For entry: No I don't. Get al the info from the chart you are trading on.
For exit: When green start to wiggle, take a peek at higher time frame, sometime you get a bounce green.

Quoting cvgreen46
{quote} Yes, real PA is important but don't under-estimate the power of HA's, the latter helps with decision making (colour change, size of body, trend, etc.) .... I use both. Overlay the PA bars on the HA chart, then you have the best of both worlds.
Why two indicator that show the same information? Both does have change colour, body size, wick's
#49:........................
HA candles average a 3-8 candle run in most cases when it reverses... That's why I want to
enter on candle 1 or 2 if I see a set up. A single candle on the 4hr nets you 30-60 pips or more
generally. If it goes 3-4 candles you've already made 80-150 pips. 4
When using Japanese candles you see up down up down and you’re stressed to the max during your
trade... It's more calming to trade HA candles.
I don't know if that was the only reason why BigE used HA To me they are the almost the same.
(I removed HA, one indicator less to worry about)
  • #86,632
  • Apr 19, 2018 10:09am Apr 19, 2018 10:09am
Quoting sorostrustfu
has anybody here tried TDI with renko charts?
You asked about Renko a few posts ago?

Did it work?

Please can you post charts?

This guy is an expert https://www.forexfactory.com/dee50
'in less than half an hour he made over 100 ticks'
  • #86,633
  • Apr 19, 2018 11:17am Apr 19, 2018 11:17am
Quoting onejester
{quote} You asked about Renko a few posts ago? Did it work? Please can you post charts? This guy is an expert https://www.forexfactory.com/dee50
i've been working with them for a while, having success on a demo mode but also a few roadblocks. for one, the tdi red green indicator seems to repaint when the current renko wick moves up and down which infringes on my ability to make a decision(steepness of rsi line is a factor). two, i have damages eyesight so i cant read the charts as quick and well as i would like, and see the small details. if i could increase the width between the renko blocks it would really help. idont have the technical know-how to do these and wish someone could help but its a very obscure thing.

I'll keep working at it and share as i go along
  • #86,634
  • Apr 19, 2018 11:45am Apr 19, 2018 11:45am
Quoting sorostrustfu
{quote} i've been working with them for a while, having success on a demo mode but also a few roadblocks. for one, the tdi red green indicator seems to repaint when the current renko wick moves up and down which infringes on my ability to make a decision(steepness of rsi line is a factor). two, i have damages eyesight so i cant read the charts as quick and well as i would like, and see the small details. if i could increase the width between the renko blocks it would really help. idont have the technical know-how to do these and wish someone could...
you wont have problem of repaint if you wait a candle close (brick close) before take decision, it does not repait after candle close

btw TDI CROSSES (red/green) are useless on Renko because every 2-3 renko bricks to another direction it make a new cross, only usefull if you want to look at what lvl of RSI the cross happned, not the cross itself
  • #86,635
  • Apr 19, 2018 12:07pm Apr 19, 2018 12:07pm
Quoting heispark
{quote} I'd say that's a low probability trade.. you should know it by now. Anyway, anything can happen in the market and good luck to this trade...
Did you know beforehand it was going to be a low probability trade when green crossed red?
I did not
Did you posted that post when I posted that chart, it would have been of value. Hindsight trading with if, should, could means nothing

Like you say"anything can happen in the market "
Attached Image
  • #86,636
  • Apr 19, 2018 12:12pm Apr 19, 2018 12:12pm
Quoting mokuro89
{quote} you wont have problem of repaint if you wait a candle close (brick close) before take decision, it does not repait after candle close btw TDI CROSSES (red/green) are useless on Renko because every 2-3 renko bricks to another direction it make a new cross, only usefull if you want to look at what lvl of RSI the cross happned, not the cross itself
how is that of any use to me when i want to capitalise on whats GOING to happen, not wait for it to happen and then think 'should have taken it'

i dont really know what your talking in regards to 'every 2-3 renko bricks to another direction it make a new cross' perhaps your familiar with a different renko chart than me
Attached Image (click to enlarge)
Click to Enlarge Name: renko9.png Size: 84 KB
  • #86,637
  • Apr 19, 2018 12:57pm Apr 19, 2018 12:57pm
Quoting Tekkies
{quote} Did you know beforehand it was going to be a low probability trade when green crossed red? I did not Did you posted that post when I posted that chart, it would have been of value. Hindsight trading with if, should, could means nothing Like you say"anything can happen in the market " {image}
No. Look at the timestamp of my posting. So, your first position got stopped out with small profit, and then you reentered with two positions. Good to see you made a profit. Congrats. However, if they got stopped out with loss, would you also post them here? Yes, hindsight looks always perfect.... Regardless of winning or losing, I still think your entry is not very good (can allow unnecessary deep drawdown). Of course, that's subjective depending on strategies, I know that.
Simplicity is the ultimate sophistication - Leonardo da Vinci
  • #86,638
  • Apr 19, 2018 2:56pm Apr 19, 2018 2:56pm
Quoting heispark
{quote} No. Look at the timestamp of my posting. So, your first position got stopped out with small profit, and then you reentered with two positions. Good to see you made a profit. Congrats. However, if they got stopped out with loss, would you also post them here? Yes, hindsight looks always perfect.... Regardless of winning or losing, I still think your entry is not very good (can allow unnecessary deep drawdown). Of course, that's subjective depending on strategies, I know that.
Apologie. Was referring to chart posted last night.

Yes, I would have posted the loss. Have done it in the past. Why, not now? There is no shame in a loss for it show that you missed / overlooked something. A member like you or somebody els can show me what I have failed to take into account.

"deep drawdown" What do you see as an drawdown? It is the same as "Cut losse short and let profit run" When is it a deep drawdown? When do you cut a loss?
For ever web-page that say 1% the equal amount say 2%. It is indeed subjective.
  • #86,639
  • Apr 19, 2018 4:09pm Apr 19, 2018 4:09pm
Quoting emmanuel7788
For those of you with daytime jobs , you can trade the Daily chart timeframe. If you scan through all 28 pairs everyday you will find 3 to 5 good trades set-up using the price volatility using the 5SMMA High Low aka the Price Action Channel PAC. Entry and Exits are simple to follow and are very clear. Avoid taking trades when the price and HA candle is within the PAC High-Low. You can miss a few trades but it is okay because the rules are clear and you follow your basic rules with strict discipline. As you gain more experience, you will learn how...
Emmanuel, do you trade or have you tried D1 with MEME using the same entry and exit rules. I believe you use MEME on H4. I know the draw down is a problem with MEME if trend changes so the D1 exit of HA change colour can be very large. Is this a reason to use a lower time frame for MEME. I will find this out myself but interested in your opinion.
  • #86,640
  • Apr 19, 2018 5:45pm Apr 19, 2018 5:45pm
Quoting sorostrustfu
{quote} i've been working with them for a while, having success on a demo mode but also a few roadblocks. for one, the tdi red green indicator seems to repaint when the current renko wick moves up and down which infringes on my ability to make a decision(steepness of rsi line is a factor). two, i have damages eyesight so i cant read the charts as quick and well as i would like, and see the small details. if i could increase the width between the renko blocks it would really help. idont have the technical know-how to do these and wish someone could...
Do not use the normal TDI's . Build the TDI (RSI replicate to TDI.pdf)
Why do you use wick's? They only show you where Renko was 5, 10, 35 min or 1, 2, 4, 6 houers ago
You can not change the width of the renko bar. (MT4 limitation)
Workaround is to use ObjectCreate and place / add both side's of the renko block a rectangle
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