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Trading Made Simple

  • #87,181
  • Edited 7:53am May 8, 2018 7:41am | Edited 7:53am
Quoting emmanuel7788
{quote} USDCAD Week 19 May 08 H4 trades: caught the breakout and +100pips with 4 open positions. {image} anyone else took that trade?
Yes I did. Similar result.

Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD20180508.png Size: 26 KB


I should have had about four entries instead of the initial two. But I had switched profiles and when going back to my trading profile forgot to check the autotrade button was enabled. So not ideal.
  • #87,182
  • May 8, 2018 8:27am May 8, 2018 8:27am
Quoting emmanuel7788
{quote} USDCAD Week 19 May 08 H4 trades: caught the breakout and +100pips with 4 open positions. {image} anyone else took that trade?
Nice catch, Emm! But surely you meant WCC on the picture, not WRB.
  • #87,183
  • May 8, 2018 4:58pm May 8, 2018 4:58pm
Quoting catalin_eros
{quote} Nice catch, Emm! But surely you meant WCC on the picture, not WRB.

there is still another 100 pips move to catch today... when that WRB with 'hidden gems'get filled.

<target the region between 1.2950 and 1.3040> in the D1 chart

you are right that is a WCC seen only in the Weekly charts.

but with WRB, we see them in every chart timeframe from Monthly, Weekly, Daily H4, H1, down to M15 and M1. Those WRB with 'hidden gems' are good to trade.

example is the H4 WRB after the breakout. that WRB can cause price drop back lower today before it decides what to do next.

Remember these five famous quotes by the late Mark Douglas:
1. Anything can happen.
2. You don’t need to know what is going to happen next in order to make money.
3. There is a random distribution between wins and losses for any given set of variables that define an edge.
4. An edge is nothing more than an indication of a higher probability of one thing happening over another.
5. Every moment in the market is unique.

Five good reasons when one loses his money trading retail spot forex.

Keep It Simple:
Just look at the candles, and ask - are the candles big or small at the last reversal.
Check - what is the short term trend, what is the long term trend.
Check - is price in a consolidation or near a consolidation.

Good Trading,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #87,184
  • May 8, 2018 5:13pm May 8, 2018 5:13pm
Quoting emmanuel7788
Week 19 D1 chart trading: More selling for these pairs EURUSD, EURJPY, EURAUD, EURCAD and EURNZD ,... until we see a D1 chart HA candle close with change in colour ( that is our Exit condition) ... we use the HA candles that is IMPORTANT . {image} {image} {image} {image} {image}

we have EURAUD exit HA candle when D1 May 08 closed.

EURUSD and EURJPY still going strong with reasonably good selling momentum..
EURUSD caution with yesterday D1 WRB and look carefully at the TDI PL and VB respsonse to that price action.
EURJPY - as long as USDJPY remains in very narrow range trading, EURJPY and AUDJPY and GBPJPY can see lower lows.

EURCAD and EURNZD lost most of it selling momentum yesterday and we watch closely how it will trade today. Tightening trailing stop is what I will do.

Do Not Overtrade, remember I pick only one pair from each of the 5 groups from my 20 pairs.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #87,185
  • May 8, 2018 5:20pm May 8, 2018 5:20pm
Counter-trend trades D1 chart, reversal with TDI cross:

GBPAUD
Attached Image (click to enlarge)
Click to Enlarge Name: GBPAUD Week 19 May 09.png Size: 38 KB


GBPCAD
Attached Image (click to enlarge)
Click to Enlarge Name: GBPCAD Week 19 May 09.png Size: 37 KB


GBPNZD
Attached Image (click to enlarge)
Click to Enlarge Name: GBPNZD Week 19 May 09.png Size: 38 KB


Simple rule: If you had not done your weekend prep work and do not have a Big Picture of these 3 pairs, you do not have a trade plan therefore you Do Not trade.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #87,186
  • May 8, 2018 6:37pm May 8, 2018 6:37pm
Hello all
Can anyone guide me to the summary of this strategy?
Thanks
  • #87,187
  • May 8, 2018 7:05pm May 8, 2018 7:05pm
Quoting forexlover20
Hello all Can anyone guide me to the summary of this strategy? Thanks
I can give you an Introduction to Trading Made Simple

Spend the time to read and learn, it is worth the effort you invest in yourself.

Read, these below and follow those links.

Trading Made Simple for beginners : Post#52,707

A short history by pioneer member snarlyjack Post#110
Our late OP eelfranz aka Big E spent 6,000 hours: Post#6 and he evolved as a trader and went on and developed two trading methods.
5-Method and 21/233 Method Post#3018, Post#4104,
After months of postings and answering many frequently asked questions FAQs,
eelfranz made the jump to this new Trading Made Simple thread on 26 April 2011. Post#4432

In Post#1, he explained how he traded the H4 chart timeframe and he also traded the H1 chart during the NY session. This suited his lifestyle being retired and the time zone he lived. Sadly he passed away in Oct 2012.

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.

TMS 5-Method Basic Rules: Post#53,841
Always check the #1- Price Action first, then #2- TDI Post#3142
Big E wanted us to build this TMS thread together... Post#4,432

Best of Big E Parts 1 and 2 are in this post Post#76,986

The original indicators and template … Post#25

Recommendations:
Read all of Big E’ posts... 861posts in the Craig Harris Stochastics thread and 463 posts in this TMS thread....and make notes on those training charts he posted. Pay attention whenever he mentioned PA and what you see on his training charts.

Learn the basic stuff about forex trading first. A good place to start is www.babypips.com/school

If you want to trade the way Big E described in Post#1, make sure you use his template , the Synergy HA candles and use that TDI Red Green version all these in Post#25.
Learn Post#261 and Post#647 well because these two posts are your survival kit.

Note that the TDI Red Green version repaints all the bars in history so you cannot use this when you do back-testing by scrolling back your charts. The better way is to run this in live market and trade the TMS setups based on what you see without refreshing your charts. When you want to trade with entries on the APB#1 and APB#2 candles, always wait for the price bar/candle to close and use the TDI to confirm the setup.

About the Trader Dynamic Index aka TDI:
It is an indicator using multiple moving average of the RSI data. The RSI is derived from the market real price hence the TDI is always lagging the Price Action. To have as good understanding of the TDI, read this book by John Hayden.
RSI: The Complete Guide [click to download] .
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #87,188
  • May 8, 2018 7:11pm May 8, 2018 7:11pm
I thought I saw a 'Arjun candle' a while ago...

Attached Image (click to enlarge)
Click to Enlarge Name: GBPAUD Week 19 May 09 H1 Arjun candle entry.png Size: 44 KB



If you don't know what an Arjun candle is, then you must learn from LE1.

https://www.forexfactory.com/showthread.php?t=345586
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #87,189
  • May 8, 2018 7:43pm May 8, 2018 7:43pm
Quoting eelfranz
''' 5 ema... shows direction currently... only wanting to enter on candle 1 or two. If there is a reversal do I have a TDI signal to enter... if not and all looks strong then enter on candle 2... use some discretion... practice on Demo... take some chances and see if yor head computer was right... it's free. HA Candles... What are their size? If they are small I will usually go find another set up... Look for consolidation... look for how close PA is to supp/res levels... use your brain ! Believe it or not you have to participate and think... until...
GBPAUD heading to its 100% of its Average Weekly Range from this Week Open, that's is a good 330 pips.

TMS is simple and can be easy.

The 5EMA, Typical Price, Shift+3 is only use for direction.
If the price action is above its 5EMA, its buy directio.
If the price action is below its 5EMA, its sell direction.

But to look at the higher timeframe price action, I like to see the D1 and W1 candles in the background.
Trading can be very visual with some trading tools to help us in our study and to train our 3 eyes to see the higher timeframe action bars/candles.
Once we have developed the skills to see higher timeframe price action we can drop the use of some tools.


Attached Image (click to enlarge)
Click to Enlarge Name: GBPAUD Week 19 W1 and D1 candles May 09.png Size: 70 KB



Have fun trading.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #87,190
  • Edited 2:38am May 9, 2018 2:00am | Edited 2:38am
Only use BigE's post's in this thread.
Attached Image

edit: update
Attached Image
  • #87,191
  • May 9, 2018 2:17am May 9, 2018 2:17am
Where is EURUSD heading to?

just play the BRN and RN from here on.

so far since breaking that Weekly WRB Low 1.2205, EU has broekn two previous months lows.

my target is the Dec monthly low but I protect the downside with 2Bars_Look_Back.

watch 1.8000 for the reaction.

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD Week 19 May 09 update target.png Size: 46 KB


Attached Image (click to enlarge)
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Good Trading Folks, make as many pips as you possibly can.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #87,192
  • May 9, 2018 2:35am May 9, 2018 2:35am
GBPUSD Week 19 May 09 .. still selling with 5 open positions.

There was some reaction at D1 200EMA which is 10EMA on MN.
Sometimes we need to know reasons why price pauses ... it cna be many different reasons, but dynamic support / resistance is just one of many different reasons.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD Week 19 May 09 BPP.png Size: 125 KB


When do I exit SELL?

According to Big E post below:
Quoting eelfranz
I'm going to do a test on the Daily charts. When green crosses red I'll stay in until green crosses red again. I'll report the results in a week or so... I'll only enter if the candles are medium length or larger... wish me luck ...
He was testing exit condition ... when the TDI cross in the opposite of his entry.

But so far, I have been using exit when the APB/HA candle closed with a change in colour. If you have read the HeikenAshi pdfs, you will know why.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #87,193
  • May 9, 2018 2:38am May 9, 2018 2:38am
Quoting emmanuel7788
{quote} GBPAUD heading to its 100% of its Average Weekly Range from this Week Open, that's is a good 330 pips. TMS is simple and can be easy. The 5EMA, Typical Price, Shift+3 is only use for direction. If the price action is above its 5EMA, its buy directio. If the price action is below its 5EMA, its sell direction. But to look at the higher timeframe price action, I like to see the D1 and W1 candles in the background. Trading can be very visual with some trading tools to help us in our study and to train our 3 eyes to see the higher timeframe action...

GBPAUD is heading in the 'right' direction, should hit that 100% target of AWR today.

why did I pick GBPAUD instead of GBPCAD and GBPNZD?

if you have an answer, lets hear it.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPAUD Week 19 May 09 update LO.png Size: 75 KB


a small reaction at BRN 1.8200 but the buying pressure is stronger and just wait for more market liquidity to flow into this pair.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #87,194
  • May 9, 2018 3:18am May 9, 2018 3:18am
Quoting emmanuel7788
USDJPY Week 18 May04 closing Market will close soon and it looks now that the current bullish trend has ended with the price action shows it will be range trading next week. We all have the weekend and time to update your Monthly , Weekly and Daily - Support and Resistance levels /zones. Do your usual top down analysis and prepare a trade plan for next week and also the following weeks. {image}
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPY Week 18 closing May 04.png Size: 28 KB


Remember this post above. Have you done your weekend homework and have trade plan for UJ?

Again we have the 200EMA D1 in the way.

Looks like we have a breakout now, but still too early to say if it will close higher but I see 110.50 possible target.


Like always,
Remember these five famous quotes by the late Mark Douglas:
1. Anything can happen.
2. You don’t need to know what is going to happen next in order to make money.
3. There is a random distribution between wins and losses for any given set of variables that define an edge.
4. An edge is nothing more than an indication of a higher probability of one thing happening over another.
5. Every moment in the market is unique.

Attached Image (click to enlarge)
Click to Enlarge Name: USDJPY Week 19 May 09 update.png Size: 28 KB


Attached Image (click to enlarge)
Click to Enlarge Name: USDJPy Week 19 May 09 BPP.png Size: 77 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #87,195
  • May 9, 2018 3:23am May 9, 2018 3:23am
Quoting emmanuel7788
{quote} GBPAUD is heading in the 'right' direction, should hit that 100% target of AWR today. why did I pick GBPAUD instead of GBPCAD and GBPNZD? if you have an answer, lets hear it. {image} a small reaction at BRN 1.8200 but the buying pressure is stronger and just wait for more market liquidity to flow into this pair.
You seem to like breakout-retest-continuation, just as I do. From this point of view, GA seemed perfect, as the resistance turned into support and there was PASR. I temporarily plotted the TDI, in order to see what it looked like when you took the trade, and the conclusion is that out of these three pairs, you had the steepest angle on GA on the TDI PL. It was not needed, of course, since PASR said everything we needed to know, but for extra confidence....
Attached Image (click to enlarge)
Click to Enlarge Name: GBPAUDDaily.png Size: 69 KB

EDIT: There is also confluence with the D1 trendline at that BUOB.
  • #87,196
  • May 9, 2018 4:41am May 9, 2018 4:41am
Quoting catalin_eros
{quote} You seem to like breakout-retest-continuation, just as I do. From this point of view, GA seemed perfect, as the resistance turned into support and there was PASR. I temporarily plotted the TDI, in order to see what it looked like when you took the trade, and the conclusion is that out of these three pairs, you had the steepest angle on GA on the TDI PL. It was not needed, of course, since PASR said everything we needed to know, but for extra confidence.... {image} EDIT: There is also confluence with the D1 trendline at that BUOB.
Hello Catalin! Nice analysys, I see the same, expect a possible retest of 1.85 BRN

Attached Image (click to enlarge)
Click to Enlarge Name: GBPAUD.JPG Size: 189 KB


Since AUDUSD has possible broken current market structure coming from end 2015 and had a lower low than december/2017 , it may be resuming the larger MN down trend and pushing EA/GA even higher

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  • #87,197
  • May 9, 2018 12:04pm May 9, 2018 12:04pm
sell audusd h4 +43 pips
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Click to Enlarge Name: sell audusd 43 pips.PNG Size: 97 KB
  • #87,198
  • May 9, 2018 12:05pm May 9, 2018 12:05pm
buy usdjpy h4 +43 pips
Attached Image (click to enlarge)
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  • #87,199
  • Edited 4:50pm May 9, 2018 4:25pm | Edited 4:50pm
Emmanuel, i was searching for a lot of time the indicator that indicates weekly open with range and the big candles which indicate a major TF; i wish i can download it from here
  • #87,200
  • May 9, 2018 6:49pm May 9, 2018 6:49pm
Quoting MrGreen95
Emmanuel, i was searching for a lot of time the indicator that indicates weekly open with range and the big candles which indicate a major TF; i wish i can download it from here

@MrGreen95,

You are just passing by this thread.
The first time I posted that higher timeframe background candle was in Oct 2012.

download

its is not requires in trading TMS but only use to explain how I see the higher timeframe candles .
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
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