EA Jun 01 H1
- missed the True REVERSAL setup ...
- missed the True REVERSAL setup ...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #119,782
- May 31, 2021 7:07pm May 31, 2021 7:07pm
- Joined Nov 2008 | Status: Trader | 50,203 Posts
{quote} before H4 close: {image} now H4 closed and new H4 open {image} we have an alert ! {image}
same H4 with 3hr to go,
and now H1
EZ sell if you see a Price Action setup with TMS 5-Method.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #119,785
- May 31, 2021 8:37pm May 31, 2021 8:37pm
- Joined Nov 2008 | Status: Trader | 50,203 Posts
{quote} {image} XAUUSD Jon 01 Sydney Open UPDATE: - with open position from last month, - I will not add-on until I have profit locked. some say trading the Daily is very boring and its like 'waiting for the paint to dry.' - but there's plenty of other things to do in my life while I trade the Daily. {image} Trade Well Folks and make June your profitable month.
XAUUSD Jun 01 Daily 1:30Pm Sydney
- with floating +158pips, I'll take some money and add-on positions later with my profit. Good way to start the month with profitable day no.1
- will add-on position using Big E' 5-Method LTF entry.
- this is now risk free ... Bill P call it 'free trade'.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #119,786
- May 31, 2021 8:50pm May 31, 2021 8:50pm
- Joined Nov 2008 | Status: Trader | 50,203 Posts
Just found this thread. As you my see, joined in 2014. But was sidetracked in starting a construction/developed biz in Costa Rica. Back to trading now. Impressed by this threads age and member sincerity. Would like direction to the TMS 5-method. Started trading financials and futures when all that was available was a telex machine and landline phone. During the Hunt brothers silver fiasco. Am 82 this December, hopeless when it comes to technology but do have help from my siblings, Daughter 18 and Son 16. Would like some direction to the best way...
Welcome to Trading Made Simple ... by Eric Franz aka Big E.
To get started quickly, here is a summary Introduction to Trading Made Simple 5-Method below.
I can give your children free coaching and I can pass on my knowledge and trading skills I have gained over the last 10 years in this thread. They will have a bright future ahead and can trade alongside with you. You and your family will grow wealth together.
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
- #119,787
- May 31, 2021 8:55pm May 31, 2021 8:55pm
- Joined Nov 2008 | Status: Trader | 50,203 Posts
EurGbp Jun 01 Daily
- Plan A
- sell between 0.8582 and 0.8465
- remember to check Weekly for Market Type
- use 2 bars high/low for stop loss.
- have a Plan B
- Plan A
- sell between 0.8582 and 0.8465
- remember to check Weekly for Market Type
- use 2 bars high/low for stop loss.
- have a Plan B
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #119,788
- Edited 9:48pm May 31, 2021 9:36pm | Edited 9:48pm
- Joined Oct 2020 | Status: Trader | 3,886 Posts
Got alert for the downward spike, reaped more profit
Trade by reacting to the market not predicting it.
Three amigos (EU GU AU) all shows bullish exhaustion. But AU gave the best setup, couple with Cash rate.
Enter sell upon TDI green bounced off red
alert came when price approaching projected TP. The downward momentum was very strong. Observed it broke projected TP level and no sign of stopping, manually monitor trade and closed at next price level, that happened about 10 seconds after hitting projected TP.
Trade by reacting to the market not predicting it.
Three amigos (EU GU AU) all shows bullish exhaustion. But AU gave the best setup, couple with Cash rate.
Enter sell upon TDI green bounced off red
alert came when price approaching projected TP. The downward momentum was very strong. Observed it broke projected TP level and no sign of stopping, manually monitor trade and closed at next price level, that happened about 10 seconds after hitting projected TP.
- #119,789
- May 31, 2021 10:03pm May 31, 2021 10:03pm
- Joined Nov 2008 | Status: Trader | 50,203 Posts
{quote} before H4 close: {image} now H4 closed and new H4 open {image} we have an alert ! {image}
AU Jun 01 H1 trades closed
- close trade 5 mins before RBA rate announcement
- take what the market gave me and Do Not gamble when trading retail spot forex.
- now wait for the next trade opportunity.
- Do Not pick tops and bottoms. Follow Price Action and Big E' Post#261.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #119,790
- May 31, 2021 10:05pm May 31, 2021 10:05pm
- Joined Nov 2008 | Status: Trader | 50,203 Posts
The day is still very early and the three amigos still have room Up and room Down
ADR high-low
ADR high-low
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #119,791
- May 31, 2021 10:24pm May 31, 2021 10:24pm
- Joined Oct 2020 | Status: Trader | 3,886 Posts
Got alert for the downward spike, reaped more profit Trade by reacting to the market not predicting it. Three amigos (EU GU AU) all shows bullish exhaustion. But AU gave the best setup, couple with Cash rate. Enter sell upon TDI green bounced off red alert came when price approaching projected TP. The downward momentum was very strong. Observed it broke projected TP level and no sign of stopping, manually monitor trade and closed at next price level, that happened about 10 seconds after hitting projected TP. {image}{image}
I got message asking the reason of looking for sell in AU before cash rate news
There are a few things to consider. In short, bearish bias is very likely to happen around today's Cash Rate news time.
Technical analysis: Bullish exhaustion + Dollor bearish exhaustion confirming the passive price movement of AU due to DX.
Fundamental analysis: This is Economics 101 about correlation between Interest Rate and Exchange Rate. AU cash rate has dropped since 2010 when I opened bank account in AU CMW and grew my savings with ~5%/a.a. Since then the rate kept dropping even after I closed the account in 2016. Recent years AU rate is at all time low. Such basic news analysis is practiced by many compared with other news, sediment is strong. Similar to Earnings and Divident in stocks.
Now the anticipation is set. Then trade when the setup is complete to react to the market according to your anticipation.
- #119,793
- May 31, 2021 11:34pm May 31, 2021 11:34pm
- Joined Nov 2008 | Status: Trader | 50,203 Posts
hello guys, i'm a newbie. Is this the correct entry, sell? Do we need to wait for the close of the candle? Sorry for the limited English, looking forward to your guide {image}
you are now in Big E 10PM 4hr H4 candle, and it is Frankfurt Open hour now.
his 6PM candle close below
but the Weekly and Daily are both sideways and narrow ranged.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #119,794
- Jun 1, 2021 12:02am Jun 1, 2021 12:02am
- Joined Nov 2008 | Status: Trader | 50,203 Posts
EU Jun 01 H1 London Open buy
- FO provides the setup Price Action PCRF
- FO provides the setup Price Action PCRF
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #119,796
- Jun 1, 2021 12:35am Jun 1, 2021 12:35am
- Joined Jan 2013 | Status: Trader | 4,386 Posts
MA provides the market's current direction and strength.
- #119,797
- Jun 1, 2021 12:45am Jun 1, 2021 12:45am
- Joined Nov 2008 | Status: Trader | 50,203 Posts
yes you, I am at GMT +7 so I want to trade H4 like Big E. I have opened 2 orders H1 {image} {image}
you can look at EURCAD H1 again during London session.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #119,799
- Jun 1, 2021 1:25am Jun 1, 2021 1:25am
- Joined Jan 2013 | Status: Trader | 4,386 Posts
MA provides the market's current direction and strength.
- #119,800
- Jun 1, 2021 1:42am Jun 1, 2021 1:42am
- | Membership Revoked | Joined Jun 2011 | 9,885 Posts
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