Trading Made Simple

DE30 ... WAIT 5 mins for all 3 candles to close ...

Emmanuel, it is really quite astonishing to see a thread intact after nearly 100,000 posts . . . and enormous thanks must go to you and, of course, Erik, from the beginning.

Thank you for the useful tools you offer up used in your own trading AND for the necessary reminders (so often) from the excellent examples of Big E 'way back when.'

Lastly, with warm appreciation for reminding all traders that you really must make the general TMS 5 method your own . . . comfortable and useable to each trader.

DE30 Dec 20 Tokyo Open local time 9am.

its 7am here and its freezing... lots of snow.

DE30 hitting those weekly and monthly swing levels the last 2 days.

yesterday pulling back from 13136.7 has happened before in the past weeks... today we may see it move low and test that 13136.7 again.

anyway, its time the big boys start their festive holidays this weekend and low trading volume expected from bow till Jan 03.

trade well and trade safe!

anyone who wants to follow the great trading journey of the OP Eric Franz aka Big E here is Forex Factory - 100,000 steps begins with one big step ... Post#1

read , study and learn ... Post#1 up to Post#12,912. That is what everyone needs to do to learn and master his 5-Method. It is really that simple.

Post#296
"Learning to trade is a lifetime process. Develop a trading system that fits you and practice, practice, practice. When your confident... go live."

EURAUD Week 51 H4 swings

what a great week for those H4 price action swing traders,

rally for Weekly WRB Low to its High

then

drop from the Weekly WRB High back down to its Low

do you weekly top down analysis and know the market type you trade in.

support and resistance is not one single price level... look for CONFLUENCE of various support and resistance , CONFLUENCE of any three is quite enough, four is better than three, definitely five would be best .
Question is: What do you use to help you identify support and resistance?

GD emm..

Just want to say the skills and the thought process that you are sharing here are really awesome... they certainly appear many times when backtested manually and certainly can be replicated as when we forward test in live market... again those Mike Baghdady videos are very usefull.. and also i'm totally grateful to your posts and the M1 posts by stevepatt..

e.g i traded AU today, W1 market type condition is bullish rally, W1 HH+ HC+, D1 HH+ HC+, both OHLC and APB are above 5emas3. Then at certain times of the day W1 D1 H4 H1 M15 both APB and OHLC are all above 5emas3... so i traded M1 instead of M5 as frankly i'm comfortable trading M1 as long as the market structure (HH HL LL LH) can be seen quite clearly without thinking much.. actually the market structure M5 was nice too and the way it respects dynamic support but my thinking is still faulty such that when i'm focused at M1, i'm totally focused on M1 and checks only H1 and H4, forgetting M5 and M15..

I entered 10x consisting of 7 valid trades, 1 was a double click so i closed immediately, another 2 was again my flaw of being tempted to trade reversal in a totally bullish market while still being new to trading in M1... so yup better to trade only according to the major trend, emulating what actually works until consistency is achieved..

TP was 10% of 20ADR which is 3.8, so after reducing 0.8 commission cost as i was trading M1 at the lowest lot possible, i got only 3 pips per successful trade... it is very small, but it is AU, i'm sure you totally understand as i don't use just a plain number like 5 or 10 pips as the 20ADR are different for the different currency pair.. so i use a percentage of 20ADR.. and at one time, i only have 2 trades open maximum..

SL wise... haha.. i'm still confused.. this time i was not using hard SL.. i know my soft SL if a H4 candle closed on the other side of the H4 WRB... the H4 candle mentioned is the first H4 candle formed on 20th Dec.. It would be wiser to change this choice of SL, eg when in an uptrend M1, a HH is not formed, so only double top or a potential LH has been formed, and then a LL confirmed it, so just exit the trade... or maybe use something like the lower band of atr channel of the moving average..

Anyway all 7 valid trades are winner, maybe it was lucky this time as i should have closed 2 trades when M1 changes its trend... and maybe i should have closed too another 2 trades before news.. anyway not counting the costs of my mistakes from the other 3 trades, got 21 pips out of only 22 pips movement during the whole day.. haha.. oh i still have a trade that is running since yesterday, entered during H1 swing low.. let it somehow someway be a lotto trade as the W1 market type is still in a bullish rally... again it is the idea that you shared.. thank you..

Yup, thank you for your posts everyday and stevepatt posts...

any recommendation is welcomed..

EDIT: i think that i better think of ways to do this -> "the lesson from that post and chart is cut losses short and let profits run. "(post 93522)

EDIT2 : omg, just finished 30% of 2019 posts... and i'm already so overloaded with information.... haha... furthermore still have to go through those screenshots and charts that i have read, if not i will forget them... totally speechless... i wonder how long when one can achieve Emm and RickM proficiency in trading... having long term trading system plan with MEME managed by a semi-automated trade system is definitely a must one day... oh man... still have to learn coding too... hahahaha... anyway thanks to Emm and RickM for many good posts...

Season's Greeting and Happy Holidays

Boxing Day for some but it is still Christmas Day here,

most markets are closed and retail spot forex liquidity will be very thin...save our money for the New Year 2020 trading.

meantime sit back enjoy some music and songs,

emmanuel7788

Attached Image (click to enlarge)

Merry Christmas & Happy 2020

soon it will be 2020, and it will be a 'prefect year' for retail traders ...

TMS 2020 ...

Hey Folks,

in about 4 hours, we make the jump to a new decade...

for those who had a bad trading year 2019, be happy it will come to an end soon.

look back the past 3 to 5 years and learn from those years.

Be positive in 2020 and do not repeat those mistakes made in the past.



Take that important leap into 2020.

Hi all,
HAPPY NEW YEAR! Wishing you and yours health and prosperity in the new year. Let your dreams take flight in the new year!
~~~~~~~~~~~~~~~~~~~~~~~~~
Long time no see, I had a busy year with my new business and did not have much time to browse FF but I still do my homework every week. My biz is more stable now and let's chatting and learning together again.
That is my first year with TMS, let sum-up:

It is ok, DD was still high and in 2020, I will spend more time to optimize risks.
~~~~~~~~~~~~~~~~~~~~~~~~~
It's time to share some charts and ideas

ON EG Daily I see a potential Short trade. We had 7 Green HA candle and bullish momentum loosed it's strength. You can see small candle with wick at both sides. Boom! a big/trendy Red/bearish candle came and broke 2 swings low. Be careful with Gap down. I will find a Short entry on H1 and build some positions if price pulls back more.

Thank you

Hi hikaru, happy new year too.. i read your old posts.. really good stuff

EG i don't really like W1 showing HH HC.. even though MN and D1 is below 5emas3..

see UC D1, imho, if i don't understand wrongly, it is in run phase now... D1 blue box is about 180p till support... at the moment MN , W1 LL LC 4th red bar and D1 LL LC 4th red bar, all bearish.. and this end of week is FOMC... if the above run phase is correct then can apply the lotto model.. oh i like CJ too..

Edit: UC MN down breakout of the MC too



Edit2:
this also using ideas from emm's posts... got 128p.. 5emas3, APB, market structure are simple and useful stuff...

DAX 30
2019 yearly bar left to us a good Yaerly Inside Bar YIB

TMS 2020
BIG the PLAN FOR Weekly & Daily
As you see on AUD and NZD their crosses
AJ , NY, EN & GA






their crosses

Attached Image (click to enlarge)

Attached Image (click to enlarge)

GBPNZD& EURNZD

Attached Image (click to enlarge)

Attached Image (click to enlarge)

GBPAUD

Attached Image (click to enlarge)

BIG the PLAN FOR Weekly & Daily
As you see on Both EURO & GBP VS USD & their crosses





EG , EY, GC & GJ






GBP CROSSES







TMS 2020 BIG PLAN

USD INDEX LOOKING FOR SHORT PA & PATTERN on lower TF

Trading Made Simple

1 Day close below Ema5 Typical Price Shift 3 just Look for Short bias & sell in Lowe TF

then follow the TMS Rules with TDI and other indicators but should know about S&R Price Action at those S&R
also you can take advantage of your knowledge of pattern on chart
Doble Top
Doble bottom
Mother candle
BEEB BEOB IB etc ..... just keep it simple


All this together make your own TMS and convert the TMS 2020 to be your Money Machine


follow EMMA7788`s advices & guidance helped most of us https://www.forexfactory.com/emmanuel7788

in my case smMovingAverage_MTF_Colored_v1 of Swingman https://www.forexfactory.com/swingman made my trading life more easier




YEN FAMILY was easy to follow starting with

USDJPY



EURJPY




NZDJPY






TMS is the

well the first 2 trading days of the new year has just closed and we witnessed the non-calendar event of the week.

are you prepared with a new trade plan to trade in the Perfect Storm 2020

next week will be the first full week of the year with complete 5 trading days ... liquidity will return as the markets resume after the festive holidays.

the question is not whether Trading Made Simple will survive in 2020,

but the hard truth really is how well will your own trading made simple system survive the Perfect Storm 2020.