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Trading Made Simple

  • #119,081
  • May 22, 2021 6:30pm May 22, 2021 6:30pm
Quoting hasib
{quote} I think everyone afraid to ask you this question they think it will hard their ego. Especially if you don't answer this question will feel bad about it. Let me ask the Question? Because I don't want to have any ego with anyone. How you Do your WTDA can you show us with picture and explanation Please.

Weekly Top Down Analysis WTDA

OK, stay tuned for today London 1500hr for weekly planning session.

>>> It requires 3 bars/candles to see and to confirm a change in Market Type conditions.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #119,082
  • May 23, 2021 3:50am May 23, 2021 3:50am
Quoting hasib
{quote} I think everyone afraid to ask you this question they think it will hard their ego. Especially if you don't answer this question will feel bad about it. Let me ask the Question? Because I don't want to have any ego with anyone. How you Do your WTDA can you show us with picture and explanation Please.
Quoting emmanuel7788
{quote} Weekly Top Down Analysis WTDA OK, stay tuned for today London 1500hr for weekly planning session. >>> It requires 3 bars/candles to see and to confirm a change in Market Type conditions.

WTDA requires us to have a Big Picture Plan of every currency pair we want to trade.

Big Picture Planning - { pdf } by member Erl Nov 05 2013 Post#27200

For next week' trading we shall be doing our WTDA for AUDNZD (see post #119,059 ),

AUDNZD May21 NY Close Big Picture

- have the MN Swing Levels above and below current price
- the RN 1.0800 is key if it can trade above this level
- RBNZ will most likely keep its current rate 0.25% unchanged on Wednesday May 26


Attached Image (click to enlarge)
Click to Enlarge Name: AUDNZD May23 Big Picture NYClose May21 23-5-2021 4-46-12 pm.png Size: 27 KB


coming up next is our WTDA to see the Market Type conditions.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #119,083
  • May 23, 2021 3:58am May 23, 2021 3:58am
Quoting mistdraw28
{quote} EMM brother. Can I analyze BTCUSD with method-5? Have you tried it yet?

Hi

I don't analyse BTCUSD using Big E' 5-Method the way I would trading currency.

Crypto is different from spot forex and if you want to know how people trade cryptos. one example read some of these.

https://www.vantharp.com/trading/upd...KwjKOMSl2YLZcs
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #119,084
  • May 23, 2021 6:26am May 23, 2021 6:26am
GbpUsd From w1 to H4. WTDA.
price is strong uptrend form H1 to W1 price is above 200 candle ma.
Price is close to resistance, from here Price would strongly reverse or may continue towards upside by breaking resistance.
Attached Image(s) (click to enlarge)
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MA provides the market's current direction and strength.
  • #119,085
  • May 23, 2021 6:30am May 23, 2021 6:30am
Quoting emmanuel7788
{quote} Hi I don't analyse BTCUSD using Big E' 5-Method the way I would trading currency. Crypto is different from spot forex and if you want to know how people trade cryptos. one example read some of these. https://www.vantharp.com/trading/upd...KwjKOMSl2YLZcs

BTCUSD May23 Daily

- maybe the 'blood-bath' has bottomed, we don't know yet.

- long term investor will look for new opportunities to buy 'low'. How low is low?

- I think those investors & speculators between 19390 and 11710 would have exited when break 47892.
Attached Image (click to enlarge)
Click to Enlarge Name: BTCUSD May23 Daily 0720pm sgt 23-5-2021 7-19-36 pm.png Size: 41 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #119,086
  • May 23, 2021 6:40am May 23, 2021 6:40am
Gbpusd H1 chart we are in a range. if this range is valid we can expert price will give us a better buying opportunity
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_4.png Size: 46 KB
MA provides the market's current direction and strength.
  • #119,087
  • May 23, 2021 7:15am May 23, 2021 7:15am
Quoting hasib
GbpUsd From w1 to H4. WTDA. price is strong uptrend form H1 to W1 price is above 200 candle ma. Price is close to resistance, from here Price would strongly reverse or may continue towards upside by breaking resistance. {image} {image} {image}


based on your Weekly chart it would be buy from Nov 01 2020 to May 21 ,

and if I use Hikaru259 post#95,800 TMS MEME II EVO money management,
https://www.forexfactory.com/thread/...5#post12287455

and trade $10k with 2% risk.

the result is quite good!

Attached Image (click to enlarge)
Click to Enlarge Name: GU Nov 01 to May 21 $10k 2%risk 23-5-2021 8-08-32 pm.png Size: 15 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #119,088
  • May 23, 2021 7:56am May 23, 2021 7:56am
[quote=emmanuel7788;13549710]{quote} BTCUSD May23 Daily - maybe the 'blood-bath' has bottomed, we don't know yet. - long term investor will look for new opportunities to buy 'low'. How low is low? - I think those investors & speculators between 19390 and 11710 would have exited when break 47892. {image}[/quote

I am very frustrated about the comment of long term investors and other news reporters with experts conversation. I was following gold analysis from the beginning of the years. so far no analysis is worked well.
I believe in personal analysis because it give us manage our risk accurately. My recommendation is sell BTC sell BTC until you stop out by buyer. you will get nice RR with selling BTC.
MA provides the market's current direction and strength.
  • #119,089
  • Edited 10:13am May 23, 2021 9:24am | Edited 10:13am
Quoting Tekkies
{quote} Am trying to trade like you. {image}
If the recently shared EA works that well in live, then there would have no need for averaging down strategy to be shared here.

The past running account EQ curve showed a -45%ish cut-loss for losing trade (the end point was +45%, do the measurement yourself)
If a non average down strategy with less DD is present, I would definitely go for it.

so the question is why a “well-perform” strategy has to be given up and replaced by a dodgy averaging down strategy?

Trading hours, slippage, spread, requote.

not to mention now is SE/SE(TSL)
  • #119,090
  • May 23, 2021 11:14am May 23, 2021 11:14am
Van Tharp said trading strategy consist of eight parts:
1. a market filter
2. set up conditions
3. an entry signal
4. a worst-case stop loss
5. re-entry when it is appropriate
6. profit-taking exits
7. a position sizing algorithm, and
8. you might need multiple systems for different market conditions.

In my opinion, Most of the trading system fail because system don't have any clear market condition filter rules.
MA provides the market's current direction and strength.
  • #119,091
  • May 23, 2021 11:30am May 23, 2021 11:30am
Quoting hasib
Look at this 6 candle, Should you open trade those candle why and why not. Answer one by one. If anyone can't give proper explanation to those 6 candle they are fake guru of TMS. {image}
I'm not an expert on TMS but I would done the following:

It's ok to enter on 1, 2 or 3 candles (remember BIGE says that ). But I wouldn't put my SL at swing high because
it's too short distance to SL for my tast. Maybe I would use 2 or 3 ATR for stop loss. Exit at the first blue candle: a nice winner.

Would not take 4 because it is to large (some news?). I would not take 5 because it to close in time to the big news candle.

I would take 6 since it looks like a normal (not to big) moment candle. Exit at the first blue candle: a small loss.

Agree?
  • #119,092
  • May 23, 2021 11:58am May 23, 2021 11:58am
Quoting hasib
Van Tharp said trading strategy consist of eight parts: 1. a market filter 2. set up conditions 3. an entry signal 4. a worst-case stop loss 5. re-entry when it is appropriate 6. profit-taking exits 7. a position sizing algorithm, and 8. you might need multiple systems for different market conditions. In my opinion, Most of the trading system fail because system don't have any clear market condition filter rules.
Great! So why don't you either open a Van Tharp thread or find an existing Van Tharp thread to discuss such material? This is BigE's TMS thread that ALREADY contains everything needed for successful trading (BigE said so himself).
To free Gazans of Hamas, use whatever it takes.
  • #119,093
  • May 23, 2021 12:08pm May 23, 2021 12:08pm
Quoting tommydoginti
{quote} If the recently shared EA works that well in live, then there would have no need for averaging down strategy to be shared here. The past running account EQ curve showed a -45%ish cut-loss for losing trade (the end point was +45%, do the measurement yourself) If a non average down strategy with less DD is present, I would definitely go for it. so the question is why a “well-perform” strategy has to be given up and replaced by a dodgy averaging down strategy? Trading hours, slippage, spread, requote. not to mention now is SE/SE(TSL)
so the question is why a “well-perform” strategy has to be given up and replaced by a dodgy averaging down strategy?

It's simple really: When a person is unable to follow the system (for whatever reason, and there are many reasons to choose from), resulting in poor performance, instead of uncovering those reasons and making adjustments so that he actually follows the system, he will either abandon that system entirely or try to "improve" it by adding things.

In addition, if the performance metric for determining if changes made a difference is some longer-term analysis, such as a minimum of 1000 trades over 3 years, then either deep pockets are needed or the evaluation is done on a tiny account. And this, we know, does not sit well with most people that are trying to make a success of trading.
To free Gazans of Hamas, use whatever it takes.
  • #119,094
  • May 23, 2021 12:11pm May 23, 2021 12:11pm
Quoting hasib
Van Tharp said trading strategy consist of eight parts: 1. a market filter 2. set up conditions 3. an entry signal 4. a worst-case stop loss 5. re-entry when it is appropriate 6. profit-taking exits 7. a position sizing algorithm, and 8. you might need multiple systems for different market conditions. In my opinion, Most of the trading system fail because system don't have any clear market condition filter rules.

he also said this:

Market Types – the first key to Forex system development.

“Expecting the same system to work in all market types is the definition of insanity”

did the OP of this thread say anything about knowing the market conditions?
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #119,095
  • May 23, 2021 12:14pm May 23, 2021 12:14pm
Quoting kirinda
{quote} I'm not an expert on TMS but I would done the following: It's ok to enter on 1, 2 or 3 candles (remember BIGE says that ). But I wouldn't put my SL at swing high because it's too short distance to SL for my tast. Maybe I would use 2 or 3 ATR for stop loss. Exit at the first blue candle: a nice winner. Would not take 4 because it is to large (some news?). I would not take 5 because it to close in time to the big news candle. I would take 6 since it looks like a normal (not to big) moment candle. Exit at the first blue candle: a small loss....
Agree?

No. You gave some very limited explanation that is far from sufficient for making a decision. Perhaps you would have a bit different analysis if you actually posted the criteria that BigE stated, and then list for each bar a YES or NO for each criterion, and from that analysis, formulate a decision.

By the way, I do not see the HEART of the system, the TDI, displayed on that chart. So how can you even consider DOING an analysis of the criteria if you have not even made a determination if there is a green cross red to TRIGGER AN ALERT in your mind to examine the criteria? And if there is no green cross red, then you just eliminated having to do any analysis for that bar. (Well, there is the option to look for the green bounce from red as well, if you want to have more entry possibilities.)
To free Gazans of Hamas, use whatever it takes.
  • #119,096
  • May 23, 2021 12:17pm May 23, 2021 12:17pm
Quoting DrDave
{quote}... This is BigE's TMS thread that ALREADY contains everything needed for successful trading (BigE said so himself).
(BigE said so himself) ... really?

#463# Limitations

Big E also said this:

"Just because you can bring an indicator up on your chart doesn't mean you know how to use it correctly.

Learning to trade is a lifetime process. Develop a trading system that fits you and practice, practice, practice. When your confident... go live."
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #119,097
  • May 23, 2021 12:23pm May 23, 2021 12:23pm
Quoting kirinda
{quote} I'm not an expert on TMS but I would done the following: It's ok to enter on 1, 2 or 3 candles (remember BIGE says that ). But I wouldn't put my SL at swing high because it's too short distance to SL for my tast. Maybe I would use 2 or 3 ATR for stop loss. Exit at the first blue candle: a nice winner. Would not take 4 because it is to large (some news?). I would not take 5 because it to close in time to the big news candle. I would take 6 since it looks like a normal (not to big) moment candle. Exit at the first blue candle: a small loss....
those simpletons would say: no TDI green cross red means no trade..., you must see green on the other side of the red ...,

there is no TDI on hasib' chart therefore TMS traders cannot trade without TDI.

Attached Image (click to enlarge)
Click to Enlarge Name: hasib BTC post chart.png Size: 152 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #119,098
  • May 23, 2021 12:27pm May 23, 2021 12:27pm
Quoting DrDave
{quote} Agree? No. You gave some very limited explanation that is far from sufficient for making a decision. Perhaps you would have a bit different analysis if you actually posted the criteria that BigE stated, and then list for each bar a YES or NO for each criterion, and from that analysis, formulate a decision. By the way, I do not see the HEART of the system, the TDI, displayed on that chart. So how can you even consider DOING an analysis of the criteria if you have not even made a determination if there is a green cross red to TRIGGER AN ALERT...
New traders coming to this thread have three Options:

Option #1: Go to this post link, read and follow that post. The TMS history is all here.

https://www.forexfactory.com/thread/...3#post13295143


Option #2:
You don't have to read 5955 pages (119,089 posts)
Just two pdf files compiled by older members here will suffice.
download and read those two pdfs files.

simply click to download:

Best of Big E - Part 1

Best of Big E - Part 2


Option #3:
For those with some years of trading experience trading with indicators, this option may be better.

Click and read One, Two and Three

TMS being the 5-Method is a technical trading methodology therefore you need to add your own Money Management and make it your own system. Your trading psychology is another subject matter not talked about much.

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
  • #119,099
  • May 23, 2021 12:35pm May 23, 2021 12:35pm
Quoting DrDave
{quote}

. By the way, I do not see the HEART of the system, the TDI, displayed on that chart. .
WRONG! it is HEART of the method ... not system... there is no system in this TMS thread.

Big E said you can trade without the TDI ... which means ... ???

#3044 Jan 20, 2011

#3103 Jan 26, 2011

#3418 Feb 12, 2011

#2617 May 16, 2011

#296 Nov 4, 2008


he also shared these
#681
using an RSI (13) with a 50% line

#504
use a RSI(3)
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #119,100
  • Edited 1:28pm May 23, 2021 12:36pm | Edited 1:28pm
Quoting kimku
{quote} Please do you share your tpl? Best regards.
just for you,

Introduction to Trading Made Simple

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
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