Menu
Sister Sites

Options

Bookmark Thread

First Page First Unread Last Page Last Post

Print Thread

Similar Threads

Trading Made Simple the right way, and other trading lessons 233 replies

Monitor for 'Trading Made Simple' system 549 replies

MTF Indicators for the 'Trading Made Simple' system 239 replies

Indicators for the 'Trading Made Simple' system 339 replies

Trading Made Simple system follower - Thanks to eelfranz 9 replies

Trading Made Simple

Quoting vasal
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??? {image}{image}{image} {image} I use RR 1:3
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.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
Quoting emmanuel7788
{quote} 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...
Thank you for the information and the review. Feels good to pull off a few successful trades to start off!

Do you happen to have your MT4 template shared with the multiple time frame views for TDI and the countdown to candle closure? I have the TDI installed along with HA candels, just nothing else.

Cheers,

Ken
Quoting emmanuel7788
{quote} GBPJPY Week08 Feb26 New York Closed. With NY Close and End-of-Month, we update our Big Picture and do our Weekly Top Down Analysis. W1 pull-back at the RN150.50 which is also a historical rice swing level going back to 2018.04.01. We shall see what the impact next week would be going forward after Japan's Aso and Kuroda statements made mid-week. GBP still looking stronger at the moment against the USD, EUR, AUD, CAD and NZD. {image} Long Swing Traders, ... Buying GBPJPY next week open would mean your initial Stop Loss risk "R" is previous..
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPY Weekly buy build positios 27-2-2021 10-45-46 am.png Size: 30 KB


.


GBPJPY Mar04 update:

H4 view at Tokyo 9:30AM today,

- H4 consolidation with that Master Candle MC
- wait for a possible breakout of the MC.
OR
- trade H1 in the direction of the Weekly PA and also the Daily candle
- key is follow price action at support&resistance.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPY Mar04 H4 V19 TOK 930AM 4-3-2021 8-31-24 am.png Size: 80 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
Quoting emmanuel7788
{quote} GBPJPY Mar04 update: H4 view at Tokyo 9:30AM today, - H4 consolidation with that Master Candle MC - wait for a possible breakout of the MC. OR - trade H1 in the direction of the Weekly PA and also the Daily candle - key is follow price action at support&resistance. {image} {image}

GBPJPY Mar04 H1 view

- pay attention when price move lower, there is 10 EMA on the Daily,
- there is the 10EMA and the 50EMA on the H4

- H1 buy above Day Open and HA PA above its 5EMA,Typical Price, Shift+2

Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPY Mar04 H1 Toky0938an 4-3-2021 8-37-34 am.png Size: 63 KB


Is there anything simpler?
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
Quoting kenardy
{quote} Thank you for the information and the review. Feels good to pull off a few successful trades to start off! Do you happen to have your MT4 template shared with the multiple time frame views for TDI and the countdown to candle closure? I have the TDI installed along with HA candels, just nothing else. Cheers, Ken
templates and indicators:

here is the link to the old post #76,270
https://www.forexfactory.com/thread/...59#post9588859

Pipware charts by FF member stratman.

Attached Image (click to enlarge)
Click to Enlarge Name: pipware charts 4-3-2021 12-16-20 pm.png Size: 61 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
Quoting emmanuel7788
{quote} GBPJPY Mar04 H1 view - pay attention when price move lower, there is 10 EMA on the Daily, - there is the 10EMA and the 50EMA on the H4 - H1 buy above Day Open and HA PA above its 5EMA,Typical Price, Shift+2 {image} Is there anything simpler?

GBPJPY Mar04 H1 Tokyo 1:48PM

- patience for another 12 minutes?

Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPY Mar04 H1 pipware 12minutes 4-3-2021 12-48-03 pm.png Size: 54 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
Quoting emmanuel7788
{quote} GBPJPY Mar04 H1 Tokyo 1:48PM - patience for another 12 minutes? {image}


GBPJPY Mar04 H1 buy ... good to go!

Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPY Mar04 H1 pipware tojyto1400pm 4-3-2021 1-02-05 pm.png Size: 55 KB


TMS_V19 template

Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPY Mar04 H1 V19 4-3-2021 1-01-40 pm.png Size: 79 KB


TMS Monitor

-
Attached Image (click to enlarge)
Click to Enlarge Name: TMS Monitor Mar04 H1 Tokyo 1400PM4-3-2021 1-05-07 pm.png Size: 38 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
Quoting emmanuel7788
{quote} GBPJPY Mar04 H1 buy ... good to go! {image} TMS_V19 template {image} TMS Monitor - {image}

GBPJPY Mar04 Frankfurt Open 8AM

- trade running nicely but it has to overcome the 'resistance' ... previous day high
- expect for some reaction at RN 149.50

Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPY Mar04 update Tokyo 4-17PM FO 4-3-2021 3-17-02 pm.png Size: 56 KB


Focus on the price action protect your profits and for exit.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
Quoting emmanuel7788
{quote} GBPJPY Week08 Feb26 New York Closed. With NY Close and End-of-Month, we update our Big Picture and do our Weekly Top Down Analysis. W1 pull-back at the RN150.50 which is also a historical rice swing level going back to 2018.04.01. We shall see what the impact next week would be going forward after Japan's Aso and Kuroda statements made mid-week. GBP still looking stronger at the moment against the USD, EUR, AUD, CAD and NZD. {image} Long Swing Traders, ... {image}

Buying GBPJPY next week open would mean your initial Stop Loss risk "R"...
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPY Weekly buy build positios 27-2-2021 10-45-46 am.png Size: 30 KB




PLAN THE TRADE, TRADE THE PLAN.

GBPJPY Weekly Swing Trade update +500pips

Attached Image (click to enlarge)
Click to Enlarge Name: GB{JPY Mar04 W1 trade update 514pips 4-3-2021 3-29-04 pm.png Size: 50 KB


Time to take some money off the table.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
EURAUD Mar04 H1 London Open

- sell H1, follow H4 PA



Attached Image (click to enlarge)
Click to Enlarge Name: EURAUD Mar04 H1 LO sell 4-3-2021 4-03-43 pm.png Size: 63 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
EURGBP Mar04 H1 London Open

- should be easy decision, follow simple rules for entries and exits

Attached Image (click to enlarge)
Click to Enlarge Name: EURGBP Mar04 H1 LO sell 4-3-2021 4-09-58 pm.png Size: 55 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
AUDJPY Mar04 H4

- some traders would not trade against the Daily TDiC1

- its just their personal preference

Attached Image (click to enlarge)
Click to Enlarge Name: AUDJPY Mar04 H4 V19 4-3-2021 4-40-21 pm.png Size: 76 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
Quoting emmanuel7788
AUDJPY Mar04 H4 - some traders would not trade against the Daily TDiC1 - its just their personal preference {image}
I am new here. can you please share the mt4 files. thanks in advance.
Some people ask where not to trade, I ask the same questions again and again. Now I have got an example I think here we should not swing trade. we should wait for a breakout. the market is very slow within the triangle. I trade in the M5 chart nicely my profit target was small. I am waiting for a clear opportunity to take 200 to 300 pips in a trade.

In these current conditions if you trade TDI cross will lose money for sure. so Understand market conditions then apply your system.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_1.png Size: 48 KB
until the break out happens sell the upper side and buy the lower side with stop loss. if the breakout happens you will lose a trade that is it. here you can use stoc or tdi confirmations too.
without indicators, you will do much better too.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_2.png Size: 51 KB
Quoting hasib
Some people ask where not to trade, I ask the same questions again and again. Now I have got an example I think here we should not swing trade. we should wait for a breakout. the market is very slow within the triangle. I trade in the M5 chart nicely my profit target was small. I am waiting for a clear opportunity to take 200 to 300 pips in a trade. In these current conditions if you trade TDI cross will lose money for sure. so Understand market conditions then apply your system. {image}



knowing the market conditions is very important because

"“Expecting the same system to work in all market types is the definition of insanity” by guess who?

the market conditions can be defined as different Market Types...

Market Types – the first key to Forex system development. { click }

once the traders can see the Market Type having done his WTDA and have a Big Picture of the market, he/she would know when to trade and when not to trade.

Keep It Simple: You need to see only three (3) different Market Types.

TMS 5-Method work great in two Market Types and fails in one particular Market Type.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
Quoting Moewet
Hello I'm I think this system rocks can someone with invite Steve Hopwood to this party I mean I would ask him myself to create this ea but I have no reputation on FF,so most likely he'll just ignore me but please someone reach out and touch him on this one,I know sometimes people don't want ea's to clutter the thread but the way Steve's been doing it lately he can just start a separate thread,thanks I respect the pippin going on here!
member Moewet asked for a trading robot EA by Steve Hopwood.

Quoting eelfranz
Moe, We don't want any EA's. Why? They can't observe and think like humans can and do. You need to learn to think on your own while trading and making your own decisions. Most EA"s don't work well anyway... sorry buddy...
and the OP replied:

Why did the Op Big E said : "Most EA"s don't work well anyway..."

One of many reasons:

"The core problem with most Forex Systems
The problem with most Forex systems (and incidentally why most Forex robots tend to fail in time) is that they are only designed for use on one market type.
If you instead shift your focus to identifying market types and then applying a system to that market type, you might find your Forex trading becomes more fruitful."

.....

As traders, we need to observe the market conditions and think like humans and use our knowledge and experience.

Study this:
Market Types – the first key to Forex system development. { click }
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
Quoting emmanuel7788
EURAUD Mar04 H1 London Open - sell H1, follow H4 PA {image}

EURAUD Mar03 and 04

- intraday trades that did not turn out well

*Note: I use THV CaveManager EA to manage my trade Exits so that I can focus my time and attention to look for trades.

THV CaveManager is not a auto-trading robot EA. It only manages your trades which you must initiate manually.

Attached Image (click to enlarge)
Click to Enlarge Name: EURAUD Mar03 and 04 trades closed 5-3-2021 7-23-41 am.png Size: 46 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
Quoting emmanuel7788
EURGBP Mar04 H1 London Open - should be easy decision, follow simple rules for entries and exits {image}

EURGBP Mar03 and 04

- intraday trades closed

Attached Image (click to enlarge)
Click to Enlarge Name: EURGBP Mar03 and 04 trades closed 5-3-2021 7-30-37 am.png Size: 44 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
Quoting compon
{quote} I am new here. can you please share the mt4 files. thanks in advance.

Hello compon

Welcome to this thread!

This should help you get started and learn Big E 5-Method.
The trading tools will come later after you have learned the 5-Method.

Introduction to Trading Made System

To learn what Trading Made Simple is, you have to follow the trading journey of the OP eelfranz aka Big E. He started as a newbie in 2008. Know the history and you will learn a lot from the OP and when you have mastered the 5-Method, you can then move on and develop your own trading system following how he did his. Many traders have moved on to trade their own systems.

Trading Made Simple for beginners : Post#52,707

A short history by pioneer member snarlyjack Post#110

Our late OP eelfranz aka Big E spent 6,000 hours: Post#6 and he evolved as a trader and went on and developed two trading methods.
5-Method and 21/233 Method Post#3018, Post#4104,

After months of postings and answering many frequently asked questions FAQs,
eelfranz made the jump to this new Trading Made Simple thread on 26 April 2011... Post#4432

In Post#1, he explained how he traded the H4 chart timeframe and he also traded the H1 chart during the NY session. This suited his lifestyle being retired and the time zone he lived. Sadly he passed away in Oct 2012.

Two very important posts: Post#261 and Post#647, give a simple summary of what this 5-Method is and the basic forex stuff we check before we look for the TDI setups to trade.

TMS 5-Method Basic Rules: Post#53,841
Always check the #1- Price Action first, then #2- TDI Post#3142
Big E wanted us to build this TMS thread together... Post#4,432

The original indicators and template Post#25
When you are overwhelmed (information overload) by the number of posts and the loads of information and variations shared by other traders here, the best thing to do is to stop reading and go back to the basics what Big E mentioned in his 463 posts in this thread and 861 posts in the CHS thread. First you learn and master the 5-Method first before you start add your own tweaks and make a new system.

Recommendations:
Read all of Big E posts... 861posts in the Craig Harris Stochastics thread and 463 posts in this TMS thread....and make notes on those training charts he posted. Pay attention whenever he mentioned PA and what you see on his training charts.

Learn the basic stuff about forex trading first. A good place to start is www.babypips.com/school

If you want to trade the way Big E described in Post#1, make sure you use his template , the Synergy APB / HA candles and use that TDI Red Green version. These are in Post#25.

Important to Note that the TDI Red Green version repaints all the bars in history so you cannot use this when you do back-testing by scrolling back your charts. The better way is to run this in live market and trade the TMS setups based on what you see without refreshing your charts. When you want to trade with entries on the APB#1 and APB#2 candles, always wait for the price bar/candle to close and use the TDI to confirm the setup.

Big E was a rule-based discretionary trader. According to studies by Dr Van K Tharp this rule-based discretionary are the best traders,

Enjoy and Have fun during your learning journey..
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
2 traders viewing now