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Trading Made Simple

  • #107,061
  • Aug 3, 2020 6:23am Aug 3, 2020 6:23am
Quoting KennethYang
{quote} I'm a little confused. MC that you mentioned includes in high and low price.. But, when I see price break, I only see closed price... Not easy..

yes, that correct.

there is a pdf document on Master Candle posted by another member in this thread.

also, if you have watched Dean Malone tutorial videos, he also explained how to trade with the Master Candle.

GBPUSD just had a breakout +30 pips in one H1 candle.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD Aug 03 H1 MC breakout 3-8-2020 7-23-47 pm.png Size: 42 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #107,062
  • Edited 7:33am Aug 3, 2020 6:41am | Edited 7:33am
Quoting DrDave
{quote} So, I have to wonder why you are not "reading the tape", i.e. looking ONLY at tick charts? Because if you are looking at other presentations of the data, such as bar charts, candlesticks, Renko, etc, you are looking at the COMPRESSED views of the tick data, so you are no longer using pure time and price that you are championing. But, if you indeed ARE using one of these compressed views, then who is to say that one type of compression is better than another? Perhaps I like to use moving average compression. Someone else likes to use Heiken_Ashi...
Dave I look at price at a certain time of the day, no indicators to give me an entry. Let’s say you know from statistics at X time there is X chance to make X pips at least then you hunt for that by putting a trade entry there and let price do what it liked to do either hitting your TP or SL. If you lose you wait for tomorrow doing the same, if you hit TP you wait for tomorrow to do the same. After 100 days you are either up or down means showing you if what you you are doing has some positive outcome or not. For the last two month doing this I am 30% up and a drawdown of 4,5% at max over a 45 trades, 15% last month, 15% the month before.

15% of a 5k is good enough to buy some food at the end of the month, for some people maybe 100k would be needed, for some maybe less. But trying to get the Lamborghini within a couple of weeks starting from a $50 dollar account and then even not being disciplined is where things get ugly.

The best thing is that you don’t have to spend hours every day switching to different timeframes and waiting for some hocus pocus indicator giving you a trade entry trigger. You only have to do a few things, Wait, enter, exit, do the same tomorrow.

This is just trading one chart at a time doing the same every day and staying disciplined.

No need to have 635 charts open and a dashboard and a tons of fancy lines and tools lol.

For sure if you are looking for 100 pips runs trying to jump on that Great trending moves chances are high you end up wasting to much time or money actually needed.

People most likely fail on this because they are either undercapitalized so they keep chasing trades looking for that large pip moves because they trade less than 1 dollar a pip or B fail to execute such simple plan day in day out like a robot without getting emotional attached by what ever the heck the market is doing.

Or they coming back to their charts all day because they feel never satisfied even if they already booked in a win, so they execute another trade and another one, giving all back to the market again by the end of the day by spending another 8 hours looking at charts while they could have already been done for the day and simply shut down the computer teasing the wife or the cat or what ever else is more interesting than watching some lines on a computer screen.
  • #107,063
  • Aug 3, 2020 8:19am Aug 3, 2020 8:19am
Quoting KennethYang
{quote} I'm a little confused. MC that you mentioned includes in high and low price.. But, when I see price break, I only see closed price... Not easy..
MASTER CANDLE NAME NO NEED.

Make look tfs and see alone.

I put pic gu by ninjatrader. Look m15 and h1.

You se h1 mc, yes? Red line show close. You look m15. Go back 4 bars is create h1 bar.

Now you look below my indis.
green cross red befor red line.
Next pink cross yelo befor red line.
Next white cros blu red line! Now make sell trade nextm15 open! Now you see no need master candle name! Only follow inidi cros and make trade!
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  • #107,064
  • Aug 3, 2020 9:00am Aug 3, 2020 9:00am
Quoting ivan9578
{quote} MASTER CANDLE NAME NO NEED. Make look tfs and see alone. I put pic gu by ninjatrader. Look m15 and h1. You se h1 mc, yes? Red line show close. You look m15. Go back 4 bars is create h1 bar. Now you look below my indis. green cross red befor red line. Next pink cross yelo befor red line. Next white cros blu red line! Now make sell trade nextm15 open! Now you see no need master candle name! Only follow inidi cros and make trade!
Attached Image
Very nice, Ivan! It looks like you either figured out how to use multiple timeframes, or else you studied a lot of my posts.

I agree--no need for worrying about certain bars and giving them silly names. Just follow the nice LAGGING indicators to harvest green pips!
To free Gazans of Hamas, use whatever it takes.
  • #107,065
  • Aug 3, 2020 9:22am Aug 3, 2020 9:22am
Quoting DrDave
{quote} Very nice, Ivan! It looks like you either figured out how to use multiple timeframes, or else you studied a lot of my posts. I agree--no need for worrying about certain bars and giving them silly names. Just follow the nice LAGGING indicators to harvest green pips! {image}
I give you thanks for kind words drdave.

Yes, I readed all words you put! ALL words on many threads.

I see words you say many times. I think these words important. I copy words.

You say many indi can use. I try one kind. Then I change little in ninjatrader code. Ninjatrader good way. Can try change easy. mt4 must make much code for all things.

I look on your pics also. I see tfs you put. I try that way. Result come good!

I practice much. I look many tfs when indi cross and see how coming and going price.

Now days i study much time your words CONTROL CHART. I no see way for call control chart. Maybe I must talk to you for imt way?
  • #107,066
  • Aug 3, 2020 2:19pm Aug 3, 2020 2:19pm
Quoting KennethYang
{quote} I'm a little confused. MC that you mentioned includes in high and low price.. But, when I see price break, I only see closed price... Not easy..
here are old posts by other members on Master Candle

https://www.forexfactory.com/bistolis

https://www.forexfactory.com/thread/...29#post9649629

https://www.forexfactory.com/joynal2u

https://www.forexfactory.com/thread/...62#post8243062

https://www.forexfactory.com/omonisha

https://www.forexfactory.com/thread/...80#post8181580

Master Candle Indicator:
https://www.forexfactory.com/lookleft

https://www.forexfactory.com/thread/...08#post8181608
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #107,067
  • Aug 3, 2020 2:35pm Aug 3, 2020 2:35pm
Quoting KennethYang
{quote} I'm a little confused. MC that you mentioned includes in high and low price.. But, when I see price break, I only see closed price... Not easy..

here we can review the H1 Master Candle in M15

H1 Master Cane High-Low is the trading range and also consider as support and resistance if there is confluence with previous price action PPA
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD Aug 03 H1 MC POMO 4-8-2020 3-26-13 am.png Size: 69 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #107,068
  • Aug 3, 2020 2:40pm Aug 3, 2020 2:40pm
Quoting drsun
My entry, GBP/USD H1. {image}

Nice!

Good entry

Just a caution when you have those currency change buttons on your chart and you have THV CaveManager CM running, if you change the currency while you have open trades it will interfere the CM functioning.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #107,069
  • Aug 3, 2020 7:49pm Aug 3, 2020 7:49pm
How to use the Volatility Band of the Traders_Dynamic_Index

#Learn_EVERYTHING_ by_the_OP#

"
Looking at the TDI Indicator ...

On the chart below I have turned the blue lines on the TDI to magenta so it's easier to see. Note how when the lines tighten up that the market tends to flatten out and as they open up... so does the PA. Also note that when the green line goes above on top or below the the bottom magenta (blue) lines that momentum picks up. Dean who made the TDI Indicator , recommends that when the green line crosses back into the channel to exit the trade. Remember too that if you use the yellow line that it represents trader sentiment.
"

Attached Image (click to enlarge)
Click to Enlarge Name: Big E #CHS 168 on TDI VB.png Size: 218 KB


and this current chart:

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD Aug 04 D1 TDi VB 4-8-2020 8-52-03 am.png Size: 65 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #107,070
  • Aug 3, 2020 8:04pm Aug 3, 2020 8:04pm
AUDUSD Aug 04 RBA Rate Statement this morning ...

- wait for the announcement then take the next trade setup.

Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD Aug 04 H4 w D1 4-8-2020 8-59-10 am.png Size: 50 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #107,071
  • Aug 3, 2020 8:10pm Aug 3, 2020 8:10pm
USDJPY Aug 04 H4 Tokyo Open+1

- sideways but take some risk?
- Daily show the way.

Attached Image (click to enlarge)
Click to Enlarge Name: USDJPY Aug 04 H4 w D1 4-8-2020 9-08-13 am.png Size: 51 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #107,072
  • Aug 3, 2020 8:17pm Aug 3, 2020 8:17pm
EURGBP Aug 04 H1 Master Candle CONSOLIDATION Range

- when will it breaks out of that CONSOLIDATION Range?

- what shall TMS traders do when the market is in this CONSOLIDATION?

Attached Image (click to enlarge)
Click to Enlarge Name: EURGBP Aug 04 H4 MC w D1 4-8-2020 9-14-17 am.png Size: 51 KB


Attached Image (click to enlarge)
Click to Enlarge Name: EURGBP Aug 04 M15 MTF charts 4-8-2020 9-20-08 am.png Size: 50 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #107,073
  • Aug 3, 2020 8:40pm Aug 3, 2020 8:40pm
Quoting emmanuel7788
{quote} here are old posts by other members on Master Candle https://www.forexfactory.com/bistolis https://www.forexfactory.com/thread/...29#post9649629 https://www.forexfactory.com/joynal2u https://www.forexfactory.com/thread/...62#post8243062 https://www.forexfactory.com/omonisha https://www.forexfactory.com/thread/...80#post8181580 Master Candle Indicator: https://www.forexfactory.com/lookleft https://www.forexfactory.com/thread/...08#post8181608...

members like to learn using Google, guess what I found when I googled "Master candle"...

Master Candle trading strategy ...

but what has master candle to do with Trading Made Simple 5-Method?
- some say don't mix other method ... bla bla bla
- some say lagging bla bla bla etc.
- some say consolidation,
- some say ranging market,
- some say there is support and resistance,
- some simply say its a big candle with few small candles,
etc.

https://forextradingtips.co.za/maste...ding-strategy/
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #107,074
  • Aug 3, 2020 8:44pm Aug 3, 2020 8:44pm
AUDJPY Aug 04 H1 Tokyo+2

> H1 Double Inside Bar breakout ...

what if that fails?

Attached Image
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #107,075
  • Aug 3, 2020 10:15pm Aug 3, 2020 10:15pm
Quoting emmanuel7788
{quote} Nice! Good entry Just a caution when you have those currency change buttons on your chart and you have THV CaveManager CM running, if you change the currency while you have open trades it will interfere the CM functioning.
yes, I will not change profile when using CM.
GBP/USD stop when hit CSTSL. Got +7 pips.
Have fun and make many pips!
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"Successful investing takes time, discipline and patience."-Warren Buffet
  • #107,076
  • Edited 1:39am Aug 4, 2020 1:02am | Edited 1:39am
USD/CAD 1H

sell

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+10 pips
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  • #107,077
  • Edited 3:34am Aug 4, 2020 1:10am | Edited 3:34am

Quoting KennethYang
USD/CAD 1H sell {image} +10 pips {image}


Sound good entry. but I will wait...

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_3.png Size: 57 KB
"Successful investing takes time, discipline and patience."-Warren Buffet
  • #107,078
  • Aug 4, 2020 4:07am Aug 4, 2020 4:07am
Quoting drsun
{quote} Sound good entry. but I will wait... {image}
Maybe... you entered sell.
  • #107,079
  • Aug 4, 2020 4:12am Aug 4, 2020 4:12am
GBP/NZD 1H

sell SL..
Attached Image (click to enlarge)
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  • #107,080
  • Aug 4, 2020 4:23am Aug 4, 2020 4:23am
Quoting emmanuel7788
EURGBP Aug 04 H1 Master Candle CONSOLIDATION Range - when will it breaks out of that CONSOLIDATION Range? - what shall TMS traders do when the market is in this CONSOLIDATION? {image} {image}

EURGBP Aug 04 H1 trade

- when H4 is in CONSOLIDATION Range I trade LTF H1 if there is a good range and potential for a breakout of that range
- wait for the H4 period trade window and place a H1 trade entry

- TP1 +10pips

- next, manage with CSTSL and let the market decide the remaining positions. Next TP2 is +25 pips ...

Attached Image (click to enlarge)
Click to Enlarge Name: EURGBP Aug 04 Buy TP1 4-8-2020 5-16-28 pm.png Size: 49 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
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