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Trading Made Simple

  • #87,361
  • May 21, 2018 7:17pm May 21, 2018 7:17pm
GBPUSD May 21 H1 trading,

When not to trade this pair?

After London session closed and when it is near NY session closing hour and market transition to Sydney session.

At all times when you take a trade no matter which timeframe, alwasy pay attention to support and resistance to the left of the price action. You want to pick a trade which has momentum and where there is no nearby support and resistance so that the price can move into profit quickly with higher probability. It is also important that you use the Average Price Bar / HeikenAshi candle when you trade TMS 5-Method.

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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #87,362
  • May 21, 2018 7:44pm May 21, 2018 7:44pm
Why is looking at Big Picture so important?

You want to know where and why price reacts because there are many different traders with different buy and sell orders in different time frames.

Now we see AU will react at it 200EMA and also when it is near the BRN 0.7600.

Price does not simply stop at 200EMA... there will many orders - both buys and sells to fill by the market/ brokers.

Attached Image (click to enlarge)
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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #87,363
  • May 21, 2018 7:53pm May 21, 2018 7:53pm
Do you believe previous support once broken becomes resistance?

Look at USDJPY example below. Know where and why price retraces but no reversal.

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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #87,364
  • May 22, 2018 1:21am May 22, 2018 1:21am
Quoting vbmark
Hello, This question is about a chart from an old eelfranz post. Can someone please tell me if they would exit at point A or B for this entry point? {image} Going strictly by the plan I would say exit at A but I would appreciate feedback. Thank you, Mark
The question was when to exit - at A or B?

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Answer: B

Quoting eelfranz
VBMark, I would have stayed in that trade to almost B.... Still plenty of room between the green and red line... Look at older charts and you'll see how the green line cycles like that....
We do not alwayes use the TDI flat, hook over, etc. to exit. Use some discretion by looking at the price action and see if the space between the TDI Green and Red opens up / widening. That is indication that the Close price is making higher high Close. (TDI Red Green post#25).
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #87,365
  • May 22, 2018 1:31am May 22, 2018 1:31am
Quoting eelfranz
Nate, Top chart looks good but watch last hi to the left.... Second chart is not ready to trade...
Review old charts

Chart_1 Top chart
..last hi to the left is resistance


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Chart_2 Second chart
...not ready to trade..

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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #87,366
  • May 22, 2018 1:41am May 22, 2018 1:41am
Quoting eelfranz
Olegy.... Your trade.... You entered on a weak TDI green angle... weak 4 o'clock direction... Previous short swings were only 1 or 2 candles going short... Keep an eye on it....

Here is another example comments by Big E.

If you look at that chart posted by the member back then, what price action do you see?

If you see a H4 Master Candle, that is consolidation and narrow range, ... then you are good.
narrow range gives weak TDI angle...

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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #87,367
  • May 22, 2018 3:36am May 22, 2018 3:36am
Quoting emmanuel7788
Why is looking at Big Picture so important? You want to know where and why price reacts because there are many different traders with different buy and sell orders in different time frames. Now we see AU will react at it 200EMA and also when it is near the BRN 0.7600. Price does not simply stop at 200EMA... there will many orders - both buys and sells to fill by the market/ brokers. {image}
As expected, H4 paused at the 200EMA but move higher now at 0.7600. With the HA candle, we do not panic as that H4 HA did not change colour although the price did close bearish. Now you see a good example the benefit in using the APB/HeikenAshi candles.

Target next is 0.7655 MN resistance.

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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #87,368
  • May 22, 2018 3:48am May 22, 2018 3:48am
Quoting DIYmike
{quote} As a member of this thread who benefit greatly from emmanuel's teachings and (never benifited anything from onejester), I now proclaim emmanuel7788 as the King of this thread. To uphold the positive attitude and gratitude of Big E who started this thread. Then will I stay a member of this thread. I believe there are more members with the same opinion.

Hi DIYmike,

You are too nice. But I cannot be king of this thread. The TDI is the king.

I am just one of the many regulars who were here since Big E passed away in 2012.

Quoting eelfranz
Hey all you regulars... thanks for jumping in and helping out other trades new to our method...
The other king remains,

Attached Image
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #87,369
  • May 22, 2018 3:57am May 22, 2018 3:57am
AUDJPY Week 21 May 21 H4 trade closed.

A simple H4 trade following the previous week candle close and PA above the PAC.
+100 pips, set and forget.

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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #87,370
  • May 22, 2018 3:22pm May 22, 2018 3:22pm
Hello fellow traders. What do you think as this for a possible setup on usdchf daily timeframe, just waiting for the green line to cross the 50 mark.

Appreciate any feed back and help.
Craig
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  • #87,371
  • May 22, 2018 4:57pm May 22, 2018 4:57pm
NZDUSD H1. Multi entry with averaged exit.
Top down analysis was to enter short at the start of the week. In hindsight it was not my best judgement. Then a move up and I was having doubts to continue. Staying with the major weekly trend worked out this time. D1 open above EMA5 shift 3 this morning should have been my signal to move to plan B. However, my gain on averaged exit was +29 pips (lots were equal size). The potential draw down was large at one point. A reason to stick to my rules and take the loss early. Lucky this time.

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  • #87,372
  • May 22, 2018 6:37pm May 22, 2018 6:37pm
Quoting nigpig
NZDUSD H1. Multi entry with averaged exit. Top down analysis was to enter short at the start of the week. In hindsight it was not my best judgement. Then a move up and I was having doubts to continue. Staying with the major weekly trend worked out this time. D1 open above EMA5 shift 3 this morning should have been my signal to move to plan B. However, my gain on averaged exit was +29 pips (lots were equal size). The potential draw down was large at one point. A reason to stick to my rules and take the loss early. Lucky this time. {image}
NZDUSD Week 21 May 23 update/review:

Weekend top down analysis shows we are in range trading this week after last Week 20 Friday closed.

My preferred direction is to continue sell following the previous weeks move. But price has made a new low for this year and hitting last year's lows so expect some reaction. The critical range is 0.6900 and 0.7000 which we are trading this week and into next week.
With an ADR of 62 pips and Weekly ATR(52) of 141 pips, you need to do your trade position size and distance carefully.

When our Plan A is to sell on Week Open (Week 21) , our initial Stop Loss is above the high of Week 19. That is the maximum Risk for Position Sizing. The maximum drawdown for this MEME basket is calculated using that initial SL.

Trading longer term with MEME requires a different mindset and we must avoid micro managing all the trades. Just trust your system - method, money management, mental strategy. We do not look at just one pair traded. I look at all 19 pairs and pick 5 pairs, one pair from each of the 5 groups from the 19 pairs. Taking a loss in one pair out of the 5 is not unusual. At the end of the cycle, look at the Expectancy of your own trading system. when you completed many cycles in one calendar year. That's how I look at this business.

Attached Image (click to enlarge)
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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #87,373
  • May 22, 2018 6:42pm May 22, 2018 6:42pm
Quoting irishcraig09
Hello fellow traders. What do you think as this for a possible setup on usdchf daily timeframe, just waiting for the green line to cross the 50 mark. Appreciate any feed back and help. Craig {image}
Attached Image (click to enlarge)
Click to Enlarge Name: USDCHF Week 20 W1 closed May 18.png Size: 27 KB


Selling on H4 is this week's preferred plan.

see post 87322

https://www.forexfactory.com/showthr...9#post11076169

H4 trade semi-automated entry and exit.

Attached Image (click to enlarge)
Click to Enlarge Name: USDCHF Week 21 May 22 H4 trade.png Size: 40 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #87,374
  • May 23, 2018 1:55am May 23, 2018 1:55am
Thanks Emmanuel
Is the semi entry and exits using the money manager EA ??
Craig
  • #87,375
  • May 23, 2018 2:08am May 23, 2018 2:08am
Use only BigE's post's. Bounce entry.
Attached Image
  • #87,376
  • May 23, 2018 2:51am May 23, 2018 2:51am
Quoting irishcraig09
Thanks Emmanuel Is the semi entry and exits using the money manager EA ?? Craig

It is a trade expert advisor based on Big E's style H4 trading - single shot i.e. Single Entry Single Exit.
Instead of using his aggressive entry I use the conservative entry which he confirmed in his posts that it 'also work'.
Exits are based on
1) the use of trailing stop and initial SL 50pips with Capital Protection move.
2) TP is pre-fix at 100pips.

So far this week with Closed and few Open trades,only 3 trading days with 2 more days to close this week.
Trade only those 8 pairs Big E traded back in 2010.
Attached Image (click to enlarge)
Click to Enlarge Name: Trade Report Week 21 May 21 to 23.png Size: 38 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #87,377
  • May 23, 2018 2:53am May 23, 2018 2:53am
Quoting Tekkies
Use only BigE's post's. Bounce entry. {image}


your previous trade entry was much higher, right?

why don't you add-on more trades with the TDI bounce?
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #87,378
  • May 23, 2018 3:29am May 23, 2018 3:29am
Quoting eelfranz
Oyapoke... (704) At one time I used the 5ema in a different way. Back then if a candle closed across the 5ema it was the set up candle. I would enter the trade at the beginning of the next candle if it was the same color.... and that still works... this is more conservative... I am more aggressive now and noticed I was giving up some pips doing it that way so I changed to using the TDI candle #1 or 2 for entries. I left it on my chart because I like to see how PA interacts with the 5ema line during the trade....
Folks,

Like Big E said, the CONSERVATIVE way still works and I like to trade this way and have good results for years.


Quoting eelfranz
A.... Most traders will tweek a stratergy to fit their own personality which is ok as long as they get positive results.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #87,379
  • May 23, 2018 3:52am May 23, 2018 3:52am
How does the XM manipulate price? This pic is with XM broker ,everyone check this with their own brokers.
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  • #87,380
  • May 23, 2018 4:50am May 23, 2018 4:50am
Good going Emmanuel. Is that the EA which was posted in here about 8 months ago or is that a private one of yours ??
Craig
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