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

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Trading Made Simple system follower - Thanks to eelfranz 9 replies

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Trading Made Simple

  • #92,741
  • Jan 1, 2019 6:35pm Jan 1, 2019 6:35pm
Quoting snarlyjack
Eelfranz, THIS HISTORY SHOULD BE PLACED ON PAGE #1. Here is a brief history of the "Trading made simple by Eelfranz". When I first met Eelfranz we were studying the system "The Stochastics Secrets 9-1-2008 by Red Trader". We were evaluating all the possible ways of trading using Stochastics. Which led to Craig Harris method 12-11-2009 of different possible ways of using the Stochastics. Basically stochastics 8-3-3 using a 15 minute chart with support and resistance. Which led us to Synergy System with Dean Malone 1-1-2010. And the finding of the...

Re-post, the history of Big E and TMS by pioneer member snarlyjack.

Eelfranz,

THIS HISTORY SHOULD BE PLACED ON PAGE #1.

Here is a brief history of the "Trading made simple by Eelfranz".

When I first met Eelfranz we were studying the system "The
Stochastics Secrets 9-1-2008 by Red Trader". We were evaluating
all the possible ways of trading using Stochastics.

Which led to Craig Harris method 12-11-2009 of different possible
ways of using the Stochastics. Basically stochastics 8-3-3 using
a 15 minute chart with support and resistance.

Which led us to Synergy System with Dean Malone 1-1-2010. And
the finding of the TDI (Traders Dynamic Index) as the main indicator
not the stochastics. Using the stochastic as a secondary indicator.
Also using 1 hour, 4 hour daily charts. Which was new to me because
I was using the 5 minute and 15 minute charts.

Which led to the 5 system (Eelfranz) 1-1-2011 which is the
Trading Made Simple System on the main Forex Factory System
Section. Which is using the TDI indicator as the main indicator
not stochastics with the Ema 5 (typical) shift +3.

So in my mind 9-1-2008 to today 4-26-2011 (2 1/2 years in the making)
all in the search of greater profits with a simple system that is easy
to understand. We are here sharing with our fellow traders at Forex
Factory what we have come up with to be more successful.

If anyone in the future... is interested they can go to the
search function and search our posts starting with Red Trader and
the secrets of stochastics. In my mind this system has been a long
time in the making with hundreds of posts. We felt that it would
be easier for everyone to start a new heading on page 1 without having
to go through hundreds of old posts starting 9-1-2008.

Also I would like to thank Eelfranz for this wonderful learning journey
2 1/2 years and counting. Someone told me "how long is that string
that your pulling on at forex factory in the learning process". For me
it's been 2 1/2 years and still going strong. I've always had the
position of learn as much as you can because the economy is falling
apart and this just might be your next fulltime job so you better
learn. Also forex factory members have been great. Traders learning
from traders free...what could be better...

So once again a big Thank You to everyone and now you know!!!

snarlyjack
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #92,742
  • Jan 1, 2019 6:40pm Jan 1, 2019 6:40pm
Quoting Newfxmmb
Happy new year for all of you guys.. The market is always changing and this trend is since 2011. Can someone just post the indicators, rules, template should I use to trade this system. Do you still stick to the indicators of the first page? Thank you and green pips for all..
Hi Newfxmmb,

You don't need to read all 4638 pages 92471 post.

try this,

Here is a quick introduction to this Trading Made Simple thread:
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

The original indicators and template Post#25
If you are overwhelmed (information overload) by the number of posts and the loads of information and variations shared by other traders here, the best thing to do is to stop reading and go back to the basics what Big E mentioned in his 463 posts in this thread and 861 posts in the CHS thread. First you learn and master the 5-Method first before you start add your own tweaks and make a new system.

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 APB / HA candles and use that TDI Red Green version. These are in Post#25.

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.

Enjoy!
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #92,743
  • Jan 1, 2019 6:49pm Jan 1, 2019 6:49pm
Quoting Divergence
{quote} Now that's hilarious I'm making12 to 15000 a month trading PA pattern action no need for post 647 thanks anyway

Well, we all have seen this for quite a while.

This poor Tekkies is limiting his learning and knowledge to just 463 posts left by the OP left in this thread. Post 647 has become his favourite DISCLAIMER.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #92,744
  • Jan 1, 2019 6:50pm Jan 1, 2019 6:50pm
Quoting emmanuel7788
{quote} Good question: Would you sell trade this given the Stoch is oversold? Answer: In our system development exercises, we always look at the Big Picture of the currency pair and define what the Market Type conditions are. We have tested and traded TMS 5-Method for many years we found that TMS 5-Method will perform better in only two Market Types. 1) Trending Market Type 2) Sideways Wide Ranging Market Type TMS 5-Method will not perform well when the market is Sideways Narrow Ranging. In your case, the Stochastics and also the TDI based on RSI...
Thanks for the comprehensive response - Is the TMS the same as the 5-method?

In hindsight - I put up some EMAs (21/50) and yes i can clearly see that it might have used these as resistance.
  • #92,745
  • Jan 1, 2019 6:54pm Jan 1, 2019 6:54pm
Quoting Tekkies
{quote} NO. Why? You left out: - Entry above or below Support (meaning is the 2de red bar above or below) - Long term and short term trend - Consolidation - Stoch is flat under the green bounce red. - Stoch confirm green under the crossover. - Size of the candle. ----- Post#1:............. I also use a Stochastics (8,3,3) indicator. It is ONLY used to confirm direction. Nothing else. Post#261........ Stochs is nothing but confirmation. If Stochs & the TDI give different signals... lights flash off and on warning me to take a closer look before entering.....
Yes you are correct - i have added some EMAs as a guide.

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Entry was above support as i saw it - unless you can see a different support - i pegged it on the white line.

When you say size of candle - you mean the previous candle - small body and large upper wick - i read that as selling pressure - would this sort of candle keep you out of the trade?

I see your point about the Stoch.

Thanks for your help.
  • #92,746
  • Jan 1, 2019 7:04pm Jan 1, 2019 7:04pm
Quoting AkronD
{quote} Thanks for the comprehensive response - Is the TMS the same as the 5-method? In hindsight - I put up some EMAs (21/50) and yes i can clearly see that it might have used these as resistance.

Don't let the thread titles mislead you.

Trading Made Simple is the same 5-Method which the OP started shring in his old thread.

His post#336 here says go to his old thread form more examples.

Quoting eelfranz
Those wanting more examples go to Forum: Commercial, then Craig Harris Stochastics Method... then start reading on page 246, post 3676 to the end... you will learn more fast... We switched from there to only discuss this method in the new forum...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #92,747
  • Jan 2, 2019 1:48am Jan 2, 2019 1:48am
Quoting AkronD
{quote} Yes you are correct - i have added some EMAs as a guide. {image} Entry was above support as i saw it - unless you can see a different support - i pegged it on the white line. When you say size of candle - you mean the previous candle - small body and large upper wick - i read that as selling pressure - would this sort of candle keep you out of the trade? I see your point about the Stoch. Thanks for your help.
Akron don't add more indicators to the chart, you don't need them. Also simplify TDI, remove top TDI, keep the bottom TDI red and green. Two indicator of the same is an overkill. There is already enough information displayed on the chart for you to use. Use what BigE used.

Yes, small body and large upper wick. No, it would not prevent a trade to be placed. It will warn me to be careful and look for more reasons not to place a trade.
How does the bar's on left look like leading to entry point, not just the last two, three bar's.

Now based on what you have posted you have already a few reasons not to place a sell trade using Post#647.
- 2de red bar above support.
- bar size and wick's not right.
- stoch is flat
- against the long term trend, looking left show that the short term trends are only five, six down
  • #92,748
  • Jan 2, 2019 2:38am Jan 2, 2019 2:38am
Happy new year.
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  • #92,749
  • Edited 3:18am Jan 2, 2019 3:04am | Edited 3:18am
Quoting emmanuel7788
{quote} Well, we all have seen this for quite a while. This poor Tekkies is limiting his learning and knowledge to just 463 posts left by the OP left in this thread. Post 647 has become his favourite DISCLAIMER.
Emmanuel, find your post's amusing.

snarlyjack wrote: We felt that it would be easier for everyone to start a new heading on page 1 without having to go through hundreds of old posts starting 9-1-2008.
You write: His post#336 here says go to his old thread form more examples.
By the why BigE post start with "Those wanting more examples". Did you asked Akron if he want more examples?

You tell Newfxmmb to read all what BigE has posted, you supply him a condense summary of what to read and where: Post 92,742
In that post you made the statement:Two very important posts: Post#261 and Post#647,

Now in Post#261 you get this:
The TDI is the heart of our method. It tells you when to enter and where to exit any trades... so review previous posts and learn it good
which is supported by Post 270 .............. When I check my charts... I look to the TDI... then PA.
You write: Always check the #1- Price Action first, then #2- TDI Post#3142 (an old Craig Harris Stochastics Method post)

Nowhere did you post anything for Newfxmmb to read about:
- Price Action, Support/Resistance, Money Management, Risk Management for entries and exits, When and How to Let Profits Run.
In fact all your whole Post 92,742 is about how to use TMS with the TDI crossover.
You write: You need to find your WINNING EDGE and the TDI is not in the winning edge equation.

Better then the best part the next post you slam Tekkies for using Post#647 which in short makes your whole Post#92742 a lie and a hoax.

Only using what is written in this post by BigE with TDI with Post#647 makes me extremly poor.
(Emmanuel, can you please tell where to buy a bigger wheelbarrow. The one BigE supplied with TMS is getting to small.)
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  • #92,750
  • Jan 2, 2019 3:19am Jan 2, 2019 3:19am
Quoting Divergence
{quote} Now that's hilarious I'm making12 to 15000 a month trading PA pattern action no need for post 647 thanks anyway
Impressive. a Whopping 12 to 15000 a month. Really think you should start to use Post#647 See chart above.
  • #92,751
  • Jan 2, 2019 5:00am Jan 2, 2019 5:00am
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  • #92,752
  • Jan 2, 2019 5:14am Jan 2, 2019 5:14am
Quoting lddd
{image}
Hi Iddd
Some banter: Why are you using TDI? The local guru has clearly stated that TDI is not in the winning edge equation. Trades like you, philstodd and me give TMS as really bad name.
-----
Nice entry. How did you beat the problem you had with TDI?
  • #92,753
  • Jan 2, 2019 5:20am Jan 2, 2019 5:20am
Quoting Tekkies
{quote} Akron don't add more indicators to the chart, you don't need them. Also simplify TDI, remove top TDI, keep the bottom TDI red and green. Two indicator of the same is an overkill. There is already enough information displayed on the chart for you to use. Use what BigE used. Yes, small body and large upper wick. No, it would not prevent a trade to be placed. It will warn me to be careful and look for more reasons not to place a trade. How does the bar's on left look like leading to entry point, not just the last two, three bar's. Now based...
I put the two TDI for 2 reasons (There is one which repaints and there is one which doesn't, eventually i will land with one) - i'm trying to see which one works better for me - seems like its okay to use either. Second Reason is prior to the candle closing - i can see what the non-repainting TDI will be doing so i can quickly get my thoughts together to enter on the open of the next candle, rather than wait for the next move. This has actually turned out to be more useful as i can check the nearby support and resistance levels, price action etc and really just wait for the crossover on the new candle before entering. It gives me a bit of breathing space. You don't really need the indicator, i suspect most people can anticipate crossovers - this has just helped me spot things.

I'm slightly confused - "2de red bar above support" - isn't that a reason to sell to the support line. Ideally trailing stops after that? Do you mean the distance to support line is not sufficient to really get into a sell trade?

Take your point on the stoch.

Thanks Tekkies.
  • #92,754
  • Jan 2, 2019 5:27am Jan 2, 2019 5:27am
Quoting Tekkies
{quote} Emmanuel, find your post's amusing. snarlyjack wrote: We felt that it would be easier for everyone to start a new heading on page 1 without having to go through hundreds of old posts starting 9-1-2008. You write: His post#336 here says go to his old thread form more examples. By the why BigE post start with "Those wanting more examples". Did you asked Akron if he want more examples? You tell Newfxmmb to read all what BigE has posted, you supply him a condense summary of what to read and where: Post...
Tekkies -

i'm assuming the red dotted line is where you went short on the M15 - When you look to the left there is a bit of a congestion / resistance area - how did you make yourself comfortable that it would not act as a support?

On H1 - looks like you don't trade the Heiken Ashi Candles - seems like a lot of people have outgrown it - do you still think the entry criteria of only entering Bar 1 and 2 is valid? How do you look at a normal chart and implement the same.

Thanks
  • #92,755
  • Jan 2, 2019 5:29am Jan 2, 2019 5:29am
Quoting Tekkies
{quote} How did you beat the problem you had with TDI?
Well i take more and more attention to what the HA price bars look like on my overall price chart for M15/H1 and a quick glance to H4.

The TDI as well as specific price action formations are secondary to me.

I donīt really worry about the perfect timed entry anymore. Giving single trades more room to fail or success, therefor reduced to trade 0.10 lots for the average trades per month.

Trading with bigger position size if everything looks "better" than normal.

Yeah, thats pretty much it... I am doing fine like that for the last monthes.
  • #92,756
  • Jan 2, 2019 6:18am Jan 2, 2019 6:18am
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  • #92,757
  • Jan 2, 2019 6:30am Jan 2, 2019 6:30am
Quoting AkronD
{quote} I put the two TDI for 2 reasons (There is one which repaints and there is one which doesn't, eventually i will land with one) - i'm trying to see which one works better for me - seems like its okay to use either. Second Reason is prior to the candle closing - i can see what the non-repainting TDI will be doing so i can quickly get my thoughts together to enter on the open of the next candle, rather than wait for the next move. This has actually turned out to be more useful as i can check the nearby support and resistance levels, price action...
Understand the 2 TDI's.
Never sell above Support or buy below Resistance. Price has the tendency to obey those lines most of the time. If the currant S/R zone is at the same level as one from a higher timeframe like H4, D1, W1 and MN then it is a major S/R level that Price will not break easily. (If it does you have problems.) You don't want to be stuck with a trade on the wrong side of a S/R level.
-------
You are correct that some traders can anticipate setup's. Use M15 TDI crossover with a alarm. It will call you to the computer for a possible trade. Apply Post#647 with S/R combined. If the crossover does not confirm to the rules, walk away and wait for the next alarm. Keep doing the same process over and over and over.
Later you will be able to glance at the chart because you have been using the same rules constantly and the brain can absorb the information needed to make a sound judgment when to place a trade or not. It won't happen overnight. Changing rules, hopping from method to method only confuse matters.
You can speed up the learning period by following BigE's advice in Post 2,617.
  • #92,758
  • Jan 2, 2019 7:02am Jan 2, 2019 7:02am
Quoting Tekkies
{quote} Enjoy this one Div. Maybe you can figure out how to do a 123pattern on a tape. You want to use true Price Action (price action is the movement of a security's price) then get yourself a old fashion ticker tape that send only the HH/HL/LH/LL of a stock or commodity per tick
Actually, true PA traders only use ONE price point.
If you are good at something, never do it for free--Joker
  • #92,759
  • Jan 2, 2019 8:15am Jan 2, 2019 8:15am
Quoting jmn5611
{quote} Actually, true PA traders only use ONE price point.
Did not know that.
Did try to find a image of how the ticker tape punched the paper. Have read that some old hands read the tape and conclude that price would go up or down. Others used a pen and paper with X and O blocks. Now those old times could trade.
  • #92,760
  • Jan 2, 2019 9:14am Jan 2, 2019 9:14am
Quoting AkronD
{quote} Tekkies - i'm assuming the red dotted line is where you went short on the M15 - When you look to the left there is a bit of a congestion / resistance area - how did you make yourself comfortable that it would not act as a support? On H1 - looks like you don't trade the Heiken Ashi Candles - seems like a lot of people have outgrown it - do you still think the entry criteria of only entering Bar 1 and 2 is valid? How do you look at a normal chart and implement the same. Thanks
"how did you make yourself comfortable that it would not act as a support"
Look at the angle of TDI and Stoch on both chart's.
- TDI is below 5 almost at 5:30
- Stoch confirm direction
No I don't use HA candles. It does tend to hide what price is doing. (Reduce market noise)
"entering Bar 1 and 2 is valid"
Yes, enter as soon as possible within what the rules allow you to do.
Post#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.
Trade what the market is willing to give freely. Don't have to fight for profit.
"look at a normal chart"
Difficult to explain Akron, so many things to remember in the beginning which was extremely difficult. Did made a lot of mistakes. You have to put in a lot of live chart time.
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