Trading Made Simple | Page 5602 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Monitor for 'Trading Made Simple' system 565 replies

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

Indicators for the 'Trading Made Simple' system 343 replies

MTF Indicators for the 'Trading Made Simple' system 241 replies

Trading Made Simple system follower - Thanks to eelfranz 9 replies

Attachments: Trading Made Simple
Exit Attachments

Trading Made Simple

  • #112,021
  • Nov 30, 2020 5:40am Nov 30, 2020 5:40am
Quoting emmanuel7788
USDCAD Nov 30 H4 - look interesting till this current H4 closes... 5AM EST and 2AM PDT - what can you do in the meantime? {image}
Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD Nov 30 H4 update 30-11-2020 7-40-58 pm.png Size: 73 KB


USDCAD Nov 30 H4

- while waiting for the H4 to close, I jumped in M15 seeing the M30 close strong

- there was a slight rebound after my sell entry but it went well , trade away from the Day Open

- taken 2 TPs +5pips, +10pips, +15 pips and now CSTSL activated and manage by THV CaveManager, I have nothing to do except sit back enjoyed my dinner.

Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD Nov 30 M15 trade update 30-11-2020 7-35-10 pm.png Size: 34 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #112,022
  • Nov 30, 2020 5:47am Nov 30, 2020 5:47am
Quoting emmanuel7788
USDJPY Nov 30 M15 FO candle - another bounce example plus PA and tweek in the slope {image}

USDJPY Nov 30 trade closed

- only 1 batch taken at the close of the H1

- 4 TPs +5pips, +10pips, +15pips and final stopped out +18pips.


Attached Image (click to enlarge)
Click to Enlarge Name: USDJPY Nov 30 M15 trades closed 30-11-2020 7-42-46 pm.png Size: 33 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #112,023
  • Nov 30, 2020 5:49am Nov 30, 2020 5:49am
Quoting emmanuel7788
EURJPY Nov 30 Frankfurt Open candle - a tweek in the M15 slope {image}

EURJPY Nov 30 trade closed

- 1st batch 4 TPs +5pips, +10pips, +15pips and stopped out +24pips

- 2nd batch sell +5pips and stopped out +2pips

Attached Image (click to enlarge)
Click to Enlarge Name: EURJPY Nov 30 M1r trades closed 30-11-2020 7-43-54 pm.png Size: 35 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #112,024
  • Nov 30, 2020 5:58am Nov 30, 2020 5:58am
GBPJPY Nov 30 M15

- HA PA + good slope tweek from 4.1 to 6.3 + bounce

Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPY Nov 30 M15 30-11-2020 7-55-38 pm.png Size: 37 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #112,025
  • Nov 30, 2020 6:42am Nov 30, 2020 6:42am
EURAUD Nov 30 NYO-1

- there is price action ...
Attached Image (click to enlarge)
Click to Enlarge Name: EURAUD Nov 30 M15 pre-NYO 30-11-2020 8-39-53 pm.png Size: 36 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #112,026
  • Nov 30, 2020 7:39am Nov 30, 2020 7:39am
Quoting Tekkies
{quote} Josete, download BigE full.pdf. That pdf contains all of BigE's posts in this thread without the misconceptions posted by members. Study it thoroughly. Click link: Post 36,439 "One can hardly see what is TMS about." So true.
Thank you so much Tekkies
  • #112,027
  • Nov 30, 2020 7:44am Nov 30, 2020 7:44am
Quoting emmanuel7788
{quote} Hi Josete I am afraid there is no short-cut to 'make it faster' for you.
Hi Emmanuel, thank you so much for your assistance, will follow slowly your advice.

Thanks again!

Josete
  • #112,028
  • Nov 30, 2020 10:37am Nov 30, 2020 10:37am
Inserted Video
MA provides the market's current direction and strength.
  • #112,029
  • Nov 30, 2020 6:14pm Nov 30, 2020 6:14pm
Quoting josete
{quote} Hi Emmanuel, thank you so much for your assistance, will follow slowly your advice. Thanks again! Josete
Very good Josete you have taken your first crictical decision to begin your 10,000 hours journey.

It is not just about practice, practice, practice... it is about Deep Practice.

Trading is skill based activity and requires lots of knowledge and experience. It will take a lot of time to reach Deep Practice. Some people can achieve that in 10 years, some in 6,000 hours. You will discover the hidden talent in you during your journey.


Inserted Video
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #112,030
  • Nov 30, 2020 6:43pm Nov 30, 2020 6:43pm
Quoting emmanuel7788
{quote} GBPUSD Nov 30 M15 approaching H4 EST 1AM (10PM PDT) - a M15 setup conditions minutes before the H4 candle closes. - bounce 5.7, Slope 4.8 is the breakout bar/candle of the M15 Master Candle consolidation - will this setup run ? {image}
GBPUSD Dec 01

- Daily is sideways
- the Nov rally ended with a Master Candle CONSOLIDATION
- BRN 1.3400 1.3300
- what can happen between now and Dec 18?
- how do you trade under these conditions?

Daily

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD Dec 01 Daily SYD 1-12-2020 8-38-18 am.png Size: 77 KB


H4

- no H4 trade
- but you can trade every 4hour

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD Dec 01 H4 SYD 1-12-2020 8-35-59 am.png Size: 80 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #112,031
  • Nov 30, 2020 6:59pm Nov 30, 2020 6:59pm
Quoting Sunfrog
Hey guys, When Big E was trading this system he would begin looking for trades in the London session and close all his trades by 6AM Pacific Time/9AM EST. This is kind of confusing to me because he was trading 4 hour charts. This means if he enters a trade on the 4 hourly chart he's only in the trade for at most 2 candles. Big E has said that holding the trades for longer is not advised as past that session price begins to trend sideways. But Big E also said that on average HA candles run for 3-8 candles. So am I accurate in my assessment that Big...

The is true he traded his 10PM, 2AM and 6AM H4 candle time.
He has his own reason:
1) He hated trading 5min-15min-30min charts.
"I hate trading 5min-15min-30min charts. Why? You have to monitor each trade from beginning to end and hope and pray you made a correct entry. I only trade 1hr charts during the the 1st 3 hours of the USA OPEN and 4hr trades at night. I check for set ups at 10pm Pacific,2am and close all 4 hour trades by 6am Pacific.... You ever woke in the morning popping on your puter and find you made 150 pips while you slept... guaranteed to put a smile on your face and a skip in your step."

2) The time zone where he lived.... 3 hours behind New York EST time.

3) His lifestyle.

4) He was not good at trading timeframes below H1.

5) He wanted something simple which he stated: " follow simple rules for entry and exit ".

What are your reasons to trade once every 4-hours?

How does the European sessions fir your local time and your lifestyle?

For example Sydney local time is night time when Frankfurt and London session in progress.
How many H4 candles will you stay awake to manage your trades?

Attached Image (click to enlarge)
Click to Enlarge Name: Market Hours Sydeny 6pm.png Size: 14 KB


If the H4 swing is 3 - 8 candles, what is the market conditions? trending or ranging. Remember there are 29 (some 30) candles in one full Weekly.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #112,032
  • Edited 7:50pm Nov 30, 2020 7:19pm | Edited 7:50pm
Quoting Sunfrog
Hey guys, When Big E was trading this system he would begin looking for trades in the London session and close all his trades by 6AM Pacific Time/9AM EST. This is kind of confusing to me because he was trading 4 hour charts. This means if he enters a trade on the 4 hourly chart he's only in the trade for at most 2 candles. Big E has said that holding the trades for longer is not advised as past that session price begins to trend sideways. But Big E also said that on average HA candles run for 3-8 candles. So am I accurate in my assessment that Big...
There are many posts by the OP other than these #1025, #1199, #1530 and #7622.

The reason why he close his trade at 6AM PDT is because of the low market liquidity and also corrections.

The key reason why he only trade 10PM and 2AM is also his risk management. He risk 15% to 30% of his $10K deposit in one single entry trade. He would not wait for the 6AM to close his trade. He manually close his trade when the price move +50 pips and pulls back he close and keep 15 to 20 pips. He would only close his trade at 6AM when he has his stop loss in place and that trade was not stopped out while he was sleeping. He could have use a trade manager like THV CaveManager to manage his trades and he can sleep soundly.

Quoting Tekkies
{quote} You are correct for the 4 hour chart and left out about London session with one hour chart. (Read Post#1025, 1199, 1530) Post#7622 explain a little better.
There are many more posts where the OP talked about trading the 4hr and the benefits trading the H4.

- one of the reason is the news factor. H4 is less susceptible to news volatility than lower timeframes.

He also talked about how he would scalp the 4hr. How do you scalp a H4 candle?
Think of the H4 swing 3 to 8 candles, the reversal is HA candle #1 and #2,
can you scalp the 3rd HA candle? the 4th , the 5th, the 6th , the 7th HA candles?

- note* that swing of 3 to 8 candles was true in M15 when the Tokyo Channel is more than 40 pips. Is this also true in H4?

You need to tests all these in your own system development and write your own rules for market type conditions, trading hours, trading timeframes, trade setup conditions, entry and exit conditions, etc.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #112,033
  • Nov 30, 2020 11:55pm Nov 30, 2020 11:55pm
Do you trade once every 4-hour i.e. the last H4 9PM EST (6PM PDT) ?

What did you miss?

Attached Image (click to enlarge)
Click to Enlarge Name: TMS Monitor H4 9PM EST 1-12-2020 1-51-09 pm.png Size: 24 KB


The next H4 will be in about 6 minutes. ... 1AM EST (10PM PDT).

Which pairs do you have in your trade plan today?
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #112,034
  • Nov 30, 2020 11:59pm Nov 30, 2020 11:59pm
USDCAD Dec 01 H4

- you look at the TMSTDI WatchDog and you see the Prev Slope and Curr Slope of the RSI green price line

- can you trade that setup?

Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD Dec 01 H4 9AM EST 1-12-2020 1-57-03 pm.png Size: 73 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #112,035
  • Dec 1, 2020 12:02am Dec 1, 2020 12:02am
EURJPY Dec 01 H4

- the price action was a H4 Bullish Engulfing Outside Bar BUEOB

- what did the TMSTDIWatchDog show the RSI green line Prev Slope and Curr Slope show?

- can you trade this H4 setup?

Attached Image (click to enlarge)
Click to Enlarge Name: EURJPY Dec 01 H4 9PM EST 1-12-2020 1-57-12 pm.png Size: 75 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #112,036
  • Dec 1, 2020 12:06am Dec 1, 2020 12:06am
Quoting emmanuel7788
Do you trade once every 4-hour i.e. the last H4 9PM EST (6PM PDT) ? What did you miss? {image} The next H4 will be in about 6 minutes. ... 1AM EST (10PM PDT). Which pairs do you have in your trade plan today?

TMS Monitor Dec 01 H4 1AM EST (10PM PDT)

- this is the OP' H4 10PM candle

- it is also a dangerous candle because both Frankfurt Open and London Open are happening during this 4-hour.

- what key news/data during this 4 hour period?

Attached Image (click to enlarge)
Click to Enlarge Name: TMS Monitor Dec 01 H4 1AM EST 10PM PDT 1-12-2020 2-03-07 pm.png Size: 26 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #112,037
  • Dec 1, 2020 12:15am Dec 1, 2020 12:15am
GBPUSD Dec 01 H4

- HA PA above 5EMA

- Weekly Trend 2/8 GREEN bullish

- Daily TdiC1 RED risk but the PA is 'supported' by its 10EMA

- FO / LO look for buy only ... follow H1 PA with MOMENTUM

- go for TP1 +5pips, TP2 +10pips, TP3 +15pips and final TP to let the market decide.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD Dec 01 H4 1AM EST 1-12-2020 2-10-26 pm.png Size: 81 KB


Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD Dec 01 pipware 1-12-2020 2-14-55 pm.png Size: 49 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #112,038
  • Dec 1, 2020 12:51am Dec 1, 2020 12:51am
GBPUSD Dec 01 M15 10 mins to FO

- what do you see?

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD Dec 01 M15 pre-FO1-12-2020 2-49-36 pm.png Size: 31 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #112,039
  • Dec 1, 2020 1:21am Dec 1, 2020 1:21am
Quoting emmanuel7788
USDCAD Dec 01 H4 - you look at the TMSTDI WatchDog and you see the Prev Slope and Curr Slope of the RSI green price line - can you trade that setup? {image}

USDCAD Dec 01 M15 trades closed

- took this trade during the 9PM EST 4hr candle period
- +5pips, +10pips and stopped out + 8pips CSTSL

Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD Dec 01 M15 trades closed CSTSL 1-12-2020 2-52-16 pm.png Size: 29 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #112,040
  • Dec 1, 2020 1:25am Dec 1, 2020 1:25am
Quoting emmanuel7788
EURJPY Dec 01 H4 - the price action was a H4 Bullish Engulfing Outside Bar BUEOB - what did the TMSTDIWatchDog show the RSI green line Prev Slope and Curr Slope show? - can you trade this H4 setup? {image}

EURJPY Dec 01 M15 trades closed

- same trading hour EST 9PM 4 hour period

- entry on completion of the H1 candle

- +5pips, +10pips and stopped out +8 pips CSTSL

Attached Image (click to enlarge)
Click to Enlarge Name: EURKPY Dec 01 M15 trades closed 1-12-2020 2-08-29 pm.png Size: 36 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
53 traders viewing now, 1 is registered:
shertiger