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Trading Made Simple

  • #107,601
  • Aug 24, 2020 2:08am Aug 24, 2020 2:08am
Quoting Tekkies
{quote} Walk the talk is this: a Nice clean chart, not what you post. {image}You went into hiding Really? Google search "Load shedding South Africa" Do not post assumptions, post fact's.

Where is Tekkies?

Walk-the-Talk ... means post live trades when market is open NOW! ...

Not posting only winning trades and mislead people that he is the trading guru.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #107,602
  • Aug 24, 2020 2:28am Aug 24, 2020 2:28am
Quoting emmanuel7788
{quote} Where is Tekkies? Walk-the-Talk ... means post live trades when market is open NOW! ... Not posting only winning trades and mislead people that he is the trading guru.
- No cross No trade.
When TDI green cross red.
- Stoch confirm TDI green direction.
- Apply post#647 when TDI setup pass those two rules.
- Buy only between 12/2, No trade between 2/4, Sell between 4/6.
- Buy above Support, Sell below Resistance

Not going to change above to accommodate you.

So take your " post live trades when market is open NOW" and shove it up where the sun does not shine.
----
Say again Emmanuel > Grow up.
  • #107,603
  • Edited 2:45am Aug 24, 2020 2:32am | Edited 2:45am
Quoting emmanuel7788
{quote} GBPUSD Aug 24 H1 ENGULFING setup candle - BUEB breaking the Master Candle high - that's a REVERSAL candle with Stoch signal {image}
In my case, I cannot buy GBP/USD in FO because of Asian high (1.3101).
FO close broke out Asian high, and I buy GBP/USD in LO start to TP 10 pips.
When the price went to 9 pips, I moved SL to BE.

Finally, that cannot go to 10 pips, and I exited at BE.

GBP/USD looks like bearish.. now.

Attached Image (click to enlarge)
Click to Enlarge Name: 0824_GBPUSD.png Size: 28 KB
  • #107,604
  • Aug 24, 2020 2:35am Aug 24, 2020 2:35am
Quoting Tekkies
{quote} - No cross No trade. When TDI green cross red. - Stoch confirm TDI green direction. - Apply post#647 when TDI setup pass those two rules. - Buy only between 12/2, No trade between 2/4, Sell between 4/6. - Buy above Support, Sell below Resistance Not going to change above to accommodate you. So take your " post live trades when market is open NOW" and shove it up where the sun does not shine. ---- Say again Emmanuel > Grow up.
Tekkies still has not grown UP yet in his trading made simple.

Well, you have not mastered the method yet and have not reach the level of the OP where taking trades would be a breeze. You did not follow "Read above"

quote the OP Post#2617
It takes me 15 seconds to strip a chart down to nothing including the TDI & Stoch's. Taking clean trades is a breeze for me... why?

Read above...

Quoting eelfranz
... 2scoops asked me a long time ago what would be the most beneficial to learning this method for higher success... The answer was simple... study old charts for set ups... now strip down everything on that chart at that point... trends, angles, S/R levels, News times, Stoch angle within the 20-80 lines..etc. Burn it into your memory... I spent 2 years doing that.... so what does that mean? It takes me 15 seconds to strip a chart down to nothing including the TDI & Stoch's. Taking clean trades is a breeze...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #107,605
  • Aug 24, 2020 2:46am Aug 24, 2020 2:46am
Quoting emmanuel7788
Examples of H1 Master Candle CONSOLIDATION GBPUSD Aug 24 H1 {image} EURGBP Aug 24 H1 {image}
Attached Image (click to enlarge)
Click to Enlarge Name: EURGBP Aug 24 H1 Master Candle 24-8-2020 12-50-53 pm.png Size: 46 KB


EURGBP Aug 24 H1 LO

- would be difficult to catch this breakout now

- note the Stoch angle, the TDI still lagging

unless you switch to H4 and take a look for possible buy.

Attached Image (click to enlarge)
Click to Enlarge Name: EURGBP Aug 24 H1 breakout 24-8-2020 3-43-22 pm.png Size: 47 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #107,606
  • Aug 24, 2020 2:54am Aug 24, 2020 2:54am
Quoting Tekkies
{quote} - No cross No trade. When TDI green cross red. - Stoch confirm TDI green direction. - Apply post#647 when TDI setup pass those two rules. - Buy only between 12/2, No trade between 2/4, Sell between 4/6. - Buy above Support, Sell below Resistance Not going to change above to accommodate you. So take your " post live trades when market is open NOW" and shove it up where the sun does not shine. ---- Say again Emmanuel > Grow up.

Oops! ...

You have forgotten about Post#261. and to use your brain !

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.

HA Candles are important because it makes your trading way less stressful... use them.

Stoch's is nothing but confirmation. If Stoch's & the TDI give different signals... lights flash off and on warning me to take a closer look before entering.. and usually I look for another trade.

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 it's so second nature... there is nothing to it... it's so simple... don't complicate it or you will lose...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #107,607
  • Aug 24, 2020 2:56am Aug 24, 2020 2:56am
EURUSD Aug 24 H1 LO+1

- buy

PA is HA candles ... 5EMA is for direction
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #107,608
  • Aug 24, 2020 2:58am Aug 24, 2020 2:58am
Quoting KennethYang
{quote} In my case, I cannot buy GBP/USD in FO because of Asian high (1.3101). FO close broke out Asian high, and I buy GBP/USD in LO start to TP 10 pips. When the price went to 9 pips, I moved SL to BE. Finally, that cannot go to 10 pips, and I exited at BE. GBP/USD looks like bearish.. now. {image}

GU direction would be clearer after Tokyo close and Asian markets closed.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #107,609
  • Aug 24, 2020 3:00am Aug 24, 2020 3:00am
AU and AJ going in the 'right' direction ...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #107,610
  • Aug 24, 2020 3:47am Aug 24, 2020 3:47am
Quoting KennethYang
{quote} In my case, I cannot buy GBP/USD in FO because of Asian high (1.3101). FO close broke out Asian high, and I buy GBP/USD in LO start to TP 10 pips. When the price went to 9 pips, I moved SL to BE. Finally, that cannot go to 10 pips, and I exited at BE. GBP/USD looks like bearish.. now. {image}
You need to check the context. Very big TFs are down on GBPUSD, so your "interest" should be on the rallies of smaller TFs and the setups for the sell continuations.

But when you get stuck with things like using H4 for your direction and entering on lower TFs and nonsense like master candle and all of the silly candlestick patterns, you have no idea where your focus should be.

And of course, as the rallies progress from the smaller to larger TFs, the rallies get big enough to be traded as well.
To free Gazans of Hamas, use whatever it takes.
  • #107,611
  • Aug 24, 2020 3:51am Aug 24, 2020 3:51am
Quoting DrDave
{quote} You need to check the context. Very big TFs are down on GBPUSD, so your "interest" should be on the rallies of smaller TFs and the setups for the sell continuations. But when you get stuck with things like using H4 for your direction and entering on lower TFs and nonsense like master candle and all of the silly candlestick patterns, you have no idea where your focus should be. And of course, as the rallies progress from the smaller to larger TFs, the rallies get big enough to be traded as well.
You're right.
Now GBP/USD is bearish in 1D.
But, I tried targeting for 10 pips.
Anyway.. I exited BE, and will look for an entry for sell.

Thanks!
  • #107,612
  • Aug 24, 2020 4:12am Aug 24, 2020 4:12am
Quoting KennethYang
{quote} You're right. Now GBP/USD is bearish in 1D. But, I tried targeting for 10 pips. Anyway.. I exited BE, and will look for an entry for sell. Thanks!
GBPUSD Daily Aug 24

the market type condition is Sideways ...CONSOLIDATION ,

and the H4 ... there is a Master Candle + 2 NR4IBs

and now you can scalp this Bullish Engulfing Bar like the OP would scalp H4 if you see the MOMENTUM in that BUEB/BUOB. But you risk the 5EMA above... plus the Master Candle High, therefore not a good idea.

Better look at EURUSD better conditions now.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD Aug 24 Daily with H4 24-8-2020 5-07-45 pm.png Size: 64 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #107,613
  • Aug 24, 2020 4:18am Aug 24, 2020 4:18am
Quoting emmanuel7788
{quote} Oops! ... You have forgotten about Post#261. and to use your brain ! 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. HA Candles are important because it makes your trading way less stressful... use them. Stoch's is nothing but confirmation. If Stoch's & the TDI give different signals... lights flash off and on warning me to take a closer look before entering.. and usually I look...
Next time highlight in yellow "The TDI is the heart of our method."
  • #107,614
  • Aug 24, 2020 4:35am Aug 24, 2020 4:35am
Quoting Tekkies
{quote} Next time highlight in yellow "The TDI is the heart of our method."
OK. Done just for you.

Oops! ...

You have forgotten about Post#261. and to use your brain !

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.

HA Candles are important because it makes your trading way less stressful... use them.

Stoch's is nothing but confirmation. If Stoch's & the TDI give different signals... lights flash off and on warning me to take a closer look before entering.. and usually I look for another trade.

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 it's so second nature... there is nothing to it... it's so simple... don't complicate it or you will lose...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #107,615
  • Aug 24, 2020 4:38am Aug 24, 2020 4:38am
Quoting Tekkies
{quote} Next time highlight in yellow "The TDI is the heart of our method."

And also these...

Jan 20, 2011
#3044
Honestly on the 5 method you don't really need any indicators because the simple entry rules are so basic and clear cut. If I were to pick two it would be the tdi & stochs.

Jan 26, 2011
#3103
I almost always have the tdi & stoch on all my charts regardless of the method being used.

However, it's not necessary on the 5 method for me. It gives people more confidence when they have it on their charts it seems.... and it's a good confirmation to the current PA and possible trade.


Feb 12, 2011
#3418
You can trade the 5 method without the TDI if it's a problem...

PA is HA Candles, PA crosses the yellow line and closes... enter on the next candle if it's the same color. When candles flatten out... exit. Stay in the trade as long as it doesn't cross back over the yellow line and close.

The TDI just gives me a lot more information for making my entries & exits decisions.


May 16, 2011
#2617
2scoops asked me a long time ago what would be the most beneficial to learning this method for higher success... The answer was simple... study old charts for set ups... now strip down everything on that chart at that point... trends, angles, S/R levels, News times, Stoch angle within the 20-80 lines..etc. Burn it into your memory... I spent 2 years doing that.... so what does that mean?

It takes me 15 seconds to strip a chart down to nothing including the TDI & Stoch's. Taking clean trades is a breeze for me... why?
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #107,616
  • Aug 24, 2020 4:51am Aug 24, 2020 4:51am
Quoting emmanuel7788
EURUSD Aug 24 H1 LO+1 - buy PA is HA candles ... 5EMA is for direction

EURUSD Aug 24 H1 trade update

- 2nd batch running nicely

work hard folks and learn EVERYTHING.

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD Aug 24 H1 trade update 24-8-2020 5-49-19 pm.png Size: 44 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #107,617
  • Aug 24, 2020 5:05am Aug 24, 2020 5:05am
Quoting emmanuel7788
{quote} EURUSD Aug 24 H1 trade update - 2nd batch running nicely work hard folks and learn EVERYTHING. {image}
I'm wondering about your entry of FO.
Don't you consider the Asian high resistance?

I cannot buy in FO start and LO start.
And after 1 hour of LO, it was 4th candle..

How do you decide the entry on FO and.. second entry?

Thanks!
Attached Image (click to enlarge)
Click to Enlarge Name: 0824_EURUSD.png Size: 31 KB
  • #107,618
  • Aug 24, 2020 7:03am Aug 24, 2020 7:03am
Quoting emmanuel7788
{quote} And also these... Jan 20, 2011 #3044 Honestly on the 5 method you don't really need any indicators because the simple entry rules are so basic and clear cut. If I were to pick two it would be the tdi & stochs. Jan 26, 2011 #3103 I almost always have the tdi & stoch on all my charts regardless of the method being used. However, it's not necessary on the 5 method for me. It gives people...

I am looking for a MT4 indicator to shade the area above line to the 50% level with light green and light red if below the 50% level. It does not need the trigger line or any other levels besided the 50 level, but it would be nice to be able to change the colors of the shading and add and remove levels if needed.
  • #107,619
  • Aug 24, 2020 7:18pm Aug 24, 2020 7:18pm
Quoting KennethYang
{quote} I'm wondering about your entry of FO. Don't you consider the Asian high resistance? I cannot buy in FO start and LO start. And after 1 hour of LO, it was 4th candle.. How do you decide the entry on FO and.. second entry? Thanks! {image}
Hi Kenneth

when I day trade, I look my different market sessions.
for example, in the morning here, I check the Sydney first 2 hours high-low SYD_2H and trade the breakout of the SYD_2H for 15 to 20 pips.
then there is the Tokyo session, I look at the first 5 hours of Tokyo TOK_5H i.e. up to their local lunch time.
it depends on the Asian markets and sometimes there is more liquidity and the tendency for the price to move before Frankfurt Open.

Yes, Asian high is consider as 'resistance' by some traders, so it the Day Open , previous Day Low, previous Day High, etc.
But as a rule-based discretionary trader, I look at the Price Action and the Big Picture, look for price move with MOMENTUM and trade setups which show price MOMENTUM and take trades based on low risk trade ideas and good risk:reward potential that results in positive Expectancy.

You are correct the LO+1 candle was the 4th HA candle count but bear in mind the swing of 3 to 8 candles is not always true. This swing of 3 to 8 candles was used in the past when Big E was trading GBPUSD M15 chart using the Asian channel with a minimum range of 40 pips. When the Asian channel is more than 40 pips, the M15 candles swing of 3 to 8 candle is quite often 'true' but again not a 100%. Apply this rule with your own experience and discretion. It is more important to be able to spot the different True REVERSAL patterns using big candles small candles as well as how to spot price CONSOLIDATION using common candlestick patterns or bar patterns.

I am using New York 5PM as start of Day on my charts... consistent with all my chart analyses for Stock, Indices and Forex. I see you have the same start of Day on your charts too. The FO and LO H1 candles are in the 3rd H4 candle of the Day. With this in mind, your LO+1 being the 4th in the swing of 3 to 8 candles, do not worry about the entry because LO+1 is the close of the H4 and yesterday case was a H1 Bullish candle with MOMENTUM.... that's my 2nd batch entry with profits from the 1st batch. The money risk is covered when I made that trade Go/No-Go decision. My concern with the 2nd entry was the Friday bearish day close and any buy trades would be retracement into Friday Bear day bar/candle.

See some of my comments on your EURUSD chart below.

Attached Image (click to enlarge)
Click to Enlarge Name: KennethYang EU question 24-8-2020 7-10-25 pm.png Size: 131 KB

Note the Master Candle MC[3] near last Friday Close. That's assumption the down move ended with the MC[3].

Day trading FO and LO is tricky because of Asian markets closing times. Therefore, I watch the LO+1 LO+2 candles which is when Tokyo closing its trading. Also when day trading H1, we take more caution when approaching the NY Open and often better to close trades in profit by the time NYO. We discussed this a lot in X-Man H1 and H4 trading thread.

Hope this explain and answer your questions.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #107,620
  • Aug 24, 2020 7:53pm Aug 24, 2020 7:53pm
Quoting emmanuel7788
{quote} Hi Kenneth when I day trade, I look my different market sessions. for example, in the morning here, I check the Sydney first 2 hours high-low SYD_2H and trade the breakout of the SYD_2H for 15 to 20 pips. then there is the Tokyo session, I look at the first 5 hours of Tokyo TOK_5H i.e. up to their local lunch time. it depends on the Asian markets and sometimes there is more liquidity and the tendency for the price to move before Frankfurt Open. Yes, Asian high is consider as 'resistance' by some traders, so it the Day Open , previous Day...
When I did back tests, sometimes Asian high can be a resistance.
This means that the probability of winning rate decrease greatly.
This is not easy.

Thank you!!
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