Trading Made Simple

Good!

There are times when you look left and take too much time to learn EVERYTHING.

Just ask the right person here and you'll get the right answers.... saves a lot of time reading FF looking left and right.

Like Big E he helped everyone.

Many nice H4 scalps .. just one candle.

use clock icons ... 10PM, 2AM and 6AM for H4 candles trading times

I have a question.) Why is my monitor not giving these signals like yours.?

1) make sure that you use the TDI Red Green in that
Post#193 for the TMS Monitor tool.

2) the difference can be different H4 candle in different server time.

I suggest run it for a few more candles and then make a screen shot when the next H4 candle close and post the screen shot with the candle time remaining.

I get many PMs on the use of the Double Bollinger Bands and how to use that as technical study and analysis of the market and to look for trade opportunities.

Here is a website which has good explanation of the Bollinger Bands.
Study this first.

Bollinger Bands | Forex Indicators Guide (forex-indicators.net)

Note: When I made the transitions to trade the Daily, I use this Double BB on my Daily charts to show the volatility of the market. I will pick the TMS 5-Method swing trades the same way using the HA candles and 5EMA.
When I see the HA candles trend in the upper BB(20,1) I follow this price action.
Note the PA and how the 5EMA also follow along the upper BB(20,1).

The opposite is true for sell swing trades when the HA candles are below its 5EMA and also trending in the lower BB(20,1)

In extreme market volatile conditions, the price action may exceed the upper and lower BB(20,2).

See GBPUSD Daily example.

GBPUSD Mar03 Daily Big Picture

- waiting to see if Daily move above its 10EMA also 5EMA, Typical Price, Shift+2 for more buying

A lot of drama in the crypto market last week, BTCUSD retraced 50% of its Feb rally.

Let see what other drama will unfold this week and if this can bring back the buyer speculators.

Still the same approach - buy when break highs ...

EURUSD Mar03 H4 at Frankfurt Open

- a Double Inside Bar DIB @BRN 1.2100

- will take a look and trade H1 or M15

TMS Monitor Mar03 @London Open

- FO candle closed provides few opportunities if we follow H4 price action

Good morning

I opened these positions in D1 trend direction I tried to enter H4 counter trend breaking H1 double top.

TMS Monitor Mar03 H4 New York 5AM EST

- H4 RSI green price line tweaks, can your spot them?

EURGBP Mar03 H1 trade closed

- the RSi green price line tweaked from 4 to 9 was good enough for the PA trade

- +5pips, +10pips and stopped out by the pull back+2 pips

Hello All,
I have a problem. I like to watch for breakouts but i make too many losing trades. I aways buy on top and sell bellow and my Stop Loss are hited. How can i filter my trading entries?

Here are examples of my losses. How to avoid them??
I am thinking for:
1- Entry only with limits orders in direction of major trend.
2- Trading only in the begging of US session when the volatility is max.

other ideas???



I use RR 1:3

Vasal if you improve your breakout trading you can read this article

https://www.tradingwithrayner.com/br...trading-guide/

I hope you will learn something from it.

My all-time favorite Udine. I love to read his post in old days. I no longer see this kind of valuable post here in ff. Udine last post in 2017 but after that, I don't know where is he now. I am afraid to post in ff nowadays because of personal attacks and disrespectful behavior. Some people set very bad examples.



90 - 95 % of the people fail in forex for the following reasons:
1. no clue of what their getting into
2. no system
3. no plan
4. no patience
5. no focus
6. no discipline
7. dont treat it like a business, but more as a game/hobby/entertainment
8. dont act / work as a professional
9. no administration
10. looking for shortcuts and not putting in the effort
the 5 - 10 % of the people who succeed in the end, realize that forex is not get rich quick, you need to work it
study, test, train, etc etc.
You think that somebody who wants to play professional basketball can join the NBA from day 1??
how much training with blood, sweat and tears, has gone into the training before even reaching that NBA level?? And how many of those young guys never make it into the NBA ???
You can change the basketball player, into doctor, lawyer, tennisplayer, golfer, forextrader .... anything...
and how much training, studying these highly paid professionals do on a daily basis ???
1. no clue what their getting into...
everybody should at least have read the school over at babypips.com ONCE, twice would be better..
2. no system
they jump from system to system, make the first changes after two three trades, to "improve" the system without testing it in depth...
when you test a system... any system for that matter you must test it as is presented to you, see if
STEP I. you can get consistent with minimal lotsize and if that is the case
STEP II. double your demo account twice
That is important, because during the time your doubling your demo account you will encounter all kind of market changes, that will show you if the system can stand the test of time..
IT WILL ONLY WORK IF THE SYSTEM YOUR TESTING FITS YOUR PERSONALITY !!! Sometimes a system works perfectly for others, but not for you, there is nothing lost.. there are plenty systems that can make money... and there is one that fits your personality as well 
3. no plan
this includes: goalsetting plan, trading plan, business plan
with regards to the goalsetting, the first thing they say I want to make a lot of money.... and then go for it..
WRONG !!
These are the 6 questions you need to answer for ALL of your goals (not only forex) !!
1. Precisely (meaning precisely) what do I want (the end in mind / ideal result) ?
2. By what date ?
3. How did others get there (dont invent the wheel) ?
4. What five smaller pieces can I break this into ?
5. Who can I ask for help ?
6. What is the first measurable step I must take in the next 24 hours ?
Now what to do:
A. Take massive action
B. See what is working and what not
C. Adapt until you see its working
D. Find mentors
With regards to the trading plan I have attached something everybody should use.
for a businessplan template there are plenty out there so do a quick google search
4. no patience
I have said it before:
A $1K account making 1 %/ day and compounding makes you a millionair in 3 years !!
So what is so F@#king hard to understand ??
Where were you 3 years ago??? and where will you be in 3 years time if you continue like this??
5. no focus
make an excel sheet, set it up as your trading journal/log, where you log everything and add an extra sheet where you have a $1K account compounding to a million and update the file at the end of every trading day = to keep your eyes on the goal..
6. no discipline
create a daily routine, do fitness daily; eat and drink healthy, sleep enough
Every time you make a trading mistake do 10 burpees...LOL (I did) In the worst case you dont get rich, but you will be fit (and still get your dreamgirl)!! 
7. dont treat it like a business
You are the CEO of ME Inc.... and as long you dont have a money machine you are the money machine..
See your personal situation as a company of one: ME Inc.
Are you going towards wealth or bankruptcy??
Your company needs 2 things:
1. profits
2. positive cash flow (spend less than you earn)
that all !!
8. dont act/work as a professional.
treat it as if you go to work... and try to improve every day... not to impress somebody, but simply make yourself better
9. no administration
how many of you dont have a trading journal/log, where you write down EVERYTHING ???
and i dont mean simply writing down: day/pair/ entry / exit / profit /losss
I mean everything, with pics of entry, reason of entering, situation of news at that moment, ADR, feelings ... everything...
this is so underestimated by way too many people !!!
it helps you to analyze your trades during the weekend, see where you made mistakes (do your burpees) and maybe adjust your
system rules so you wont make that mistake again..
10. looking for shortcuts
in forex are no shortcuts... you must put in the work..
As Vince Lombardy said: Success comes before work ONLY in the dictionary !!
enough said for the moment..
Udine

My first day paper trading this system - I actually didn't wake up every 4 hours, just closed the positions when I woke.


I'm only new to forex - is it a bad idea to trade with the same currency in multiple trades?
I have gone long with AUD in 2 trades and short against CAD vs AUD.

Secondly, I know the entry waits for the candle to close, but what about the exit? Same rules apply?

Lastly, I cannot control the leverage associated with this paper account - it seems to be quite high for my $3000 investment or is that normal?
I went with 2% risk in the calc but the trades still seemed massive.

Cheers,

Ken

EURUSD Mar03 H1 trade closed

- PA unable to break above the BRN 1.2100
- nice swing high on H1 with a Mother Bar/Inside Bar
- sell below the Mother Bar low

- TP +10pips , +25 pips.

Hi Ken

With your H4 trades, you picked the direction of the HA candles above/below its 5EMA correctly.

See my charts below.

There are many different exit strategies. There is Post#6 for Entries and Exits but the OP also mentioned different ways he exits his trades. He did mention in Post#1 that he would exit his trades at 6AM his local time. There are posts where he mentioned he also exit when the price pulls back after his entry. Plus other exits which he also mentioned for example in Post#7612. Plus exit using price action, etc.
There are no clear one clear exit strategy but this is best left to the experience of the traders. But follow simple rules for entries and exits that is what he often stressed.


AUDCAD H4 review

Attached Image (click to enlarge)

EURAUD H4 review

Attached Image (click to enlarge)

GBPAUD H4 review



You can trade as many pairs you want and that depends on your own experience and the account size you have.

Hello Vasal

You want to trade 5-minute timeframe, that is like driving in the Fast Lane. You need to be very disciplined trading 5-minute charts plus taking many losses before you can make it to become a big time trader.

Learn from the creator of the TDI on how to scalp using his TDI and also to Follow the Yellow Brick Road

Trend Scalping with the TDI

https://www.forexfactory.com/thread/...4#post13208314

Follow the Yellow Brick Road

https://www.forexfactory.com/thread/...0#post13401950

But you can use the 5-mniute chart for multiple entries when you become a Swing Trader on Daily and Weekly.