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Trading Made Simple

  • #113,821
  • Dec 23, 2020 11:56pm Dec 23, 2020 11:56pm
Hi everybody,

In memory of Eric Franz:

Attached Files from another thread:

Trading Made Simple the right way, and other trading lessons | Forex Factory



Attached Image


P.S.

For all those who read these lines, but also for all other people.

God bless you and your family, God give you a happy long life!

Many thanks and God bless to all those who kept this thread alive, special emmanuel7788

Merry Christmas everyone and Happy Holidays!
The only impartial feeling is love. It is also the only feeling of God.
  • #113,822
  • Dec 24, 2020 7:26am Dec 24, 2020 7:26am
Gold, we are in a ranging market so. I just took advantage of the ranging market.

For any unexpected move to the downside, I use small sl and Large tp.
I am happy that after opening a trade market go up smoothly and quickly.

I have to increase My risk-reward ratio.
many times I close my trade a little early when I stay long time trade becomes a loss. So I have to Improve a lot.
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MA provides the market's current direction and strength.
  • #113,823
  • Dec 24, 2020 8:02am Dec 24, 2020 8:02am
Quoting PixelSniper
{quote} I'm an explorer analyst I analyze.. An analyst always win. You just have to hit & run. And fibonacci sucks bro how come imaginary horizontal lines have to do something with trading
And fibonacci sucks bro how come imaginary horizontal lines have to do something with trading
Perhaps you won't be too surprised to hear that a few years ago, some group actually got a grant to study price movements in a kind of free-market scenario. They recruited "average" Americans and gave them some rules for buying and selling some items, gave them some kind of goals (like don't lose all your money), gave them some kind of incentive to actually play the game "seriously", then turned them loose.

After an analysis of price swings, they were not so surprised to see that 50% retracements were quite common, but what they did find surprising was that a few other retracements, such as about 40% and 60%, were the next most common! Of course they could not answer the question of WHY these Fibonacci levels were prevalent, but they speculated that something is hard-wired in humans to simply "gravitate" to these levels: Perhaps there is something subconsciously "pleasing to the eye".

By the way, check this post about Fibs and swing lengths.
To free Gazans of Hamas, use whatever it takes.
  • #113,824
  • Dec 24, 2020 8:22am Dec 24, 2020 8:22am
Quoting DrDave
{quote} And fibonacci sucks bro how come imaginary horizontal lines have to do something with trading Perhaps you won't be too surprised to hear that a few years ago, some group actually got a grant to study price movements in a kind of free-market scenario. They recruited "average" Americans and gave them some rules for buying and selling some items, gave them some kind of goals (like don't lose all your money), gave them some kind of incentive to actually play the game "seriously", then turned them loose. After an analysis of price swings, they...
Post#49.....HA candles average a 3-8 candle run in most cases when it reverses...
  • #113,825
  • Dec 24, 2020 8:46am Dec 24, 2020 8:46am
Quoting Tekkies
{quote} Post#49.....HA candles average a 3-8 candle run in most cases when it reverses...
Yes, of course. My point was though, the more prevalent number of HA bars when a turn occurs is a Fib number,3, 5, 8, 13 rather the numbers like 2, 4, 6, 7, 9, 10, 11.

And when a swing reaches 9 bars, what bar number is it now most likely to turn on? Maybe bar 13? Doesn't sound logical, right? It seems that if 9 bars is already go longer than "usual", then the 10th should be the most common turn bar after 9, because after all, it is "overdue" to turn, and EVERYBODY can see it and will be EXPECTING the turn, so they logically would act accordingly. Seems odd that after we see bar 9, we continue to hold on until bar 13.
To free Gazans of Hamas, use whatever it takes.
  • #113,826
  • Edited 9:36am Dec 24, 2020 9:09am | Edited 9:36am
Quoting PixelSniper
{quote} OK.. DrDave.. That yellow line got my attention for real, IT COULD BE A REALLY GOOD FILTER. before picking a trade. What is that again..? W1-H4-H1 Direction + 1M scalps. Scalps with IMT? Perhaps maybe throw a .TPL to us.. I can't find any indicator explanations on the IMT thread. OR IM JUST BLIND AS FK
W1-H4-H1 Direction
So are you wanting to use those TFs as some kind of fixed reference, like some people do? If so, then you're like the stopped clock that is ALWAYS right EXACTLY 2 times a day, and ALWAYS WRONG the entire rest of the day. The only reason that you are right some of those other times of the day is because of the random element within the movements that by simple probability, some (small) number of them will be right.

A stopped clock is correct 2 hours out of 24. That is about 4% of the time. What would it take to be just over 50% and have that "winning edge"? The clock must be correct 13 times and it is 54%. SO, if you are GIFTED with those 2 correct events, you need to somehow come up with another 11 correct events during the remaining 22 hours. OHHHHHHHHHHHHHHHHHHHHHH! Look at that!! 11/22 is 50%!!!!! So, If you could find a service that will GIFT you a GUARANTEED 2 winning hours during each day, you can just FLIP A COIN to make your remaining trades and in the long run, YOU'RE A WINNER!!!!!!!

You see now why if a person actually has a worthwhile system, it is actually DIFFICULT to achieve such a LOW success rate as 65%!!!! So, is it any wonder now why BigE said 65% is the BEGINNER'S success rate and that within 1-2 months, it should be up to 70%?

A properly working clock has hands that MOVE DYNAMICALLY so that you can see the smaller hands making their cycles inside of the larger hands.

What makes the minute hand click from one minute to the next? Isn't it a REQUIREMENT that the second hand has to "do its thing" FIRST, and if something goes out of whack with the second hand, then the minute hand can't continue its normal movement?? And likewise, if the minute hand isn't moving, are you even THINKING about the hour hand moving?
To free Gazans of Hamas, use whatever it takes.
  • #113,827
  • Dec 24, 2020 9:35am Dec 24, 2020 9:35am
Seems to me a lot of hand waving and flag raising today about a very obvious GBPUSD H4 UP CONTINUATION to a higher TF that is IN CONTROL. There was absolutely no indication of lower TFs breaking the up bias.

You had an entry on the open of the bar with the green line, or if you were looking at volatility, could wait for it to increase and enter on the bar at the gold line.
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To free Gazans of Hamas, use whatever it takes.
  • #113,828
  • Edited 10:07am Dec 24, 2020 9:35am | Edited 10:07am
Quoting DrDave
{quote} W1-H4-H1 Direction So are you wanting to use those TFs as some kind of fixed reference, like some people do??
Yes, also realized that I can't use it to my advantage, because I'm always going after swing setups / reversal scalps.
So when they occur, all TF's will be messed up in direction anyway, they'll be missmatching eachother and so on.
All the tf's should be somewhat agreeing with the direction.
Instead I decided to check what could be some valid reversal points on the Higher TF's and scalp that way.

For example the price bounces a lot from the 200 SMA, and we are on a uptrend so.. 200 Sma line of 1 hour could act as a resistance

My idea is to identify profit taking places, and scalp.
For example a bull has made a lot of money and now exiting the market, it slows down. I'm willing to sell the new highs in that case.
But also keep buying some dips that could act as trend contiunations.
It just my trading approach really opposes the way of '' joining in the direction ''
But frankly, when I watch the charts and only analyze by LOOKING AT them. I GET REALLY GOOD joining in the direction mental entries.
But still, I believe in selling high and buying low. It should be the way, with proper analysis we can setup good ambushes to make strong profits.

TBH At this point I'm not sure if my setup is complete.
My 1M Chart looks good, with just couple of indicators and when I watch the markets i get enough ''feeling'' to pull the trigger.
It should not be this easy right, or is it?
But somehow I feel my setup is incomplete, and willing to work more on It. Before I go '' HAM '' you know.
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  • #113,829
  • Dec 24, 2020 10:05am Dec 24, 2020 10:05am
Quoting PixelSniper
{quote} Yes, also realized that I can't use it to my advantage, because I'm always going after swing setups / reversal scalps. So when they occur, all TF's will be messed up in direction anyway, they'll be missmatching eachother and so on. All the tf's should be somewhat agreeing with the direction. Instead I decided to check what could be some valid reversal points on the Higher TF's and scalp that way. For example the price bounces a lot from the 200 SMA, and we are on a uptrend so.. 200 Sma line of 1 hour could act as a resistance My idea is...
All the tf's should be somewhat agreeing with the direction.
That is a yes-and-no. The CONTROL, FOCUS, and intervening TFs must agree, and at the moment you place a trade, it would be best if ALL TFs below the focus TF also agree, but the further the TF from the focus TF, the less important.
To free Gazans of Hamas, use whatever it takes.
  • #113,830
  • Dec 24, 2020 11:22am Dec 24, 2020 11:22am
Quoting DrDave
{quote} And fibonacci sucks bro how come imaginary horizontal lines have to do something with trading Perhaps you won't be too surprised to hear that a few years ago, some group actually got a grant to study price movements in a kind of free-market scenario. They recruited "average" Americans and gave them some rules for buying and selling some items, gave them some kind of goals (like don't lose all your money), gave them some kind of incentive to actually play the game "seriously", then turned them loose. After an analysis of price swings, they...

So perhaps they could be ''saturation points''
We all have some sort of saturation points wired in our minds. For example a bank account with 7 digits? ha
  • #113,831
  • Dec 24, 2020 11:26am Dec 24, 2020 11:26am
Quoting PixelSniper
{quote} So perhaps they could be ''saturation points'' We all have some sort of saturation points wired in our minds. For example a bank account with 7 digits? ha
I got ten digits.
$0.000000001
  • #113,832
  • Edited 11:45am Dec 24, 2020 11:28am | Edited 11:45am
Quoting Tekkies
{quote} I got ten digits. $0.000000001
Trading With Memes
TWM
Not kidding tbh, after hitting 7 digits they become '' teachers & gurus '' you know, lol.
  • #113,833
  • Dec 24, 2020 11:54am Dec 24, 2020 11:54am
Quoting Tekkies
{quote} I got ten digits. $0.000000001
LOL That's a good one!
To free Gazans of Hamas, use whatever it takes.
  • #113,834
  • Dec 24, 2020 11:58am Dec 24, 2020 11:58am
Quoting Tekkies
{quote} I got ten digits. $0.000000001
Look! also 10 digits!
Attached Image
To free Gazans of Hamas, use whatever it takes.
  • #113,835
  • Dec 24, 2020 3:35pm Dec 24, 2020 3:35pm
$10K to $2Mil in 2 years consistency getting 1% day return

the thread is { here }
https://www.forexfactory.com/thread/...stency-getting

trade IDR/SGD
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #113,836
  • Dec 24, 2020 3:40pm Dec 24, 2020 3:40pm
Quoting Rille
Hi eelfranz, I need some more charts of examples please, for example would this have been a good long trade (the red line), and does the price have to close above the yellow MA before I take it {image}
Attached Image (click to enlarge)
Click to Enlarge Name: Rille chart Big E #49.png Size: 474 KB

#49

Rille... I would have entered one candle earlier.

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.

When using Japanese candles you see up down up down and your stressed to the max during your trade... It's more calming to trade HA

====================================

Has anyone traded USDCHF in 2020?
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #113,837
  • Dec 24, 2020 3:48pm Dec 24, 2020 3:48pm

Merry Christmas Folks!


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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #113,838
  • Dec 24, 2020 4:41pm Dec 24, 2020 4:41pm
Quoting LvMMT
Hi everybody, In memory of Eric Franz: Attached Files from another thread: Trading Made Simple the right way, and other trading lessons | Forex Factory {image} P.S. For all those who read these lines, but also for all other people. God bless you and your family, God give you a happy long life! Many thanks and God bless to all those who kept this thread alive, special emmanuel7788...

Thanks LvMMT.

My best wishes to you and your family for Christmas and festive season.

Yes, we shall keep this thread going in 2021 the the way Big E had wished that we help one another.

GOD Bless!

Attached Image (click to enlarge)
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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #113,839
  • Dec 24, 2020 4:41pm Dec 24, 2020 4:41pm
It's also time to reflect.

Inserted Video
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #113,840
  • Edited Dec 25, 2020 2:59pm Dec 24, 2020 5:36pm | Edited Dec 25, 2020 2:59pm
Big E Dec 2010:

He had wanted to retire back then 10 years ago, but he started this new thread in April 2011.

So let's not forget his passion to share his knowledge and experience with the FF community.

Everyday when we post, we must remind ourselves what was his mission while he was very ill for the 3 months prior to starting this new thread.

He did not live very long after starting this thread. He went offline after December 2011. Eric passed away in Oct 2012. Only those one who knew him well were there.

Attached Image (click to enlarge)
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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
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