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Trading Made Simple

  • #120,001
  • Edited 9:07am Jun 6, 2021 8:49am | Edited 9:07am
Quoting hasib
What is Self-Enhancement? In behavioral finance, self-enhancement is a common emotional bias. Also referred to as the self-enhancing bias, it is the tendency for individuals to take all the credit for their successes while giving little or no credit to other individuals or external factors. People may emphasize their positive attributes while at the same time highlighting negatives associated with others. This can impact investors negatively as they become overconfident about their abilities; they will attribute past success to their own skill and...

With that, and on behalf of other traders picking the right direction, I thank you and other posters here for contributing your money to us.
trading is a zero sum game (minus cost)

Who said “NFP favours USD”?
Thanks

Read news, and study the true impact of the news.

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  • #120,002
  • Jun 6, 2021 9:04am Jun 6, 2021 9:04am
Quoting tommydoginti
{quote} With that, and on behalf of other traders picking the right direction, I thank you and other posters here for contributing your money to us. Who said “NFP favours USD”? Thanks Read news, and study the true impact of the news. {image}
I got inquiry on how I come to conclusion that NFP favoured USD drop to confirm buy decision of pairs trading against USD (XAUUSD/GBPUSD)

Abs. I haven’t read any trading books so far but I read research on trading like This Thesis.
Books may tell you “Unemployment rate is high so the currency goes high”. But is has no context. Research gives you the general concept and match with certain world conditions. Reading them is like people do the research for you, so you can understand why this time the “high” unemployment rate actually pressurised the USD to drop as impulse, by statistics (and yes sometime research also give you how likely it happens)

Once my buy bias was established, I only enter Buy trades until the news impulse is over, and when a buy setup is formed as of technical analysis.
The impulse was expected to be strong (Red news) so my TP was set to further and stronger price levels.

If you are not confident with the fundamental analysis, then stay out of the market until the news is over and react to the market instead.
  • #120,003
  • Jun 6, 2021 10:00am Jun 6, 2021 10:00am
Quoting tommydoginti
{quote} I would question, 1. Do you have the choice to pick timeframes apart from M15-30/H1/H4/D1 on your trading platform? I mean, maybe simply you have no choice to look at H2/3, 45min charts (Trading View has them), so no chance to see timeframe difference not at 4-6x 2. Have you done any parallel test to find out if 4x time frame difference is indeed better than 2x or so? I myself do not limit to 4-6x in MTF. I sometimes do top down analysis with H1 and trade with m1/5, skipping all timeframes in between, that is 12-60x. They can give good trade...
Thank you very much Sir for your contribution. Yes i actually tried other timeframes in my MTF over the years and what suited me was the 4 hour, 1 hour and 15 minute charts. But please like i said some or many traders will find it very convenient to analyse and do MTF on the lower timeframes such as 1 minute, 2 minute 3 minute or so. There is no controversy with that. It all depends on what works for you as a trader and what creates consistency for you. Consistency now depends on what you were taught and what actually transpires in the patterns that unfold on the charts repeatedly. I know a trader who does not trade trends except counter trends and on LTF(Lower timeframes). He waits for the price to hit that Breakout RSI then he will trade the reversal for the day. And it works for him consistently!! So we all have our biases and backgrounds and what we are looking for that will give us consistency and consistency in profits so that statistically we have an edge over other traders and we can survive Institutional traders with their stop loss hunting manipulations. True Sir Trading view is great with trade station and other non metatrader apps...one should clearly spell out what one wants then test and retest and retest until a pattern that is consistent is distilled from the whole Technical Analysis. And it should be simple to grasp and interpret then with Fundamental Analysis and Sentiment Analysis we have a Pro in the making. Thanks Sir.
"With God all things are possible"
  • #120,004
  • Edited 10:21am Jun 6, 2021 10:07am | Edited 10:21am
Quoting hasib
Few ideas about MTF. If any one interested I will share some material. I am sure after reading those material you will understand, DrDave is full of BS.
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Thanks for VERIFYING what I have said many times about multi-timeframes!! It is nice to see you so heartily promoting my expertise in MTF analysis.

How many times have I posted about the DYNAMIC CONTORL TF?? He simply uses a different name--dominant TF and says "pass control" instead of dynamic.
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How many times have I posted that there can be trading opportunities on smaller TFs when larger TFs have low volatility or are making a retracement? In addition, he says that some of the best smaller TF trades come when a larger TF is turning. How many times have I said that CHANGE comes from the bottom and moves upward, and that smaller TFs CREATE the swing of a higher TF?
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How many times have I said that if you understand the inter-relationship between the TFs that you can trade smaller TFs against the trend of a higher TF if there is sufficient volatility? And if you understand what your indicators are indicating, then you can capitalize on those LAGGING indicators by playing follow the leader.
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To free Gazans of Hamas, use whatever it takes.
  • #120,005
  • Jun 6, 2021 10:20am Jun 6, 2021 10:20am
Quoting hasib
Few ideas about MTF. If any one interested I will share some material. I am sure after reading those material you will understand, DrDave is full of BS. {image}
Thank you Sir you are quite right. There is no full proof or holy grail approach to analysis and applying Technical Analysis. Trend following and taking trades off the higher timeframe is just one of the approaches. I strongly believe there are other ways and means of raking in huge pips consistently and it is good for a trader to know them. However Hasib i discovered in my own personal case following the higher timeframes and executing trades that agree with them seem to be easy and sort of simple even though it fails at times. And i have a friend who seldom trades higher timeframes and he only trades mean reversion or counter trend. Sir if you see his chart setup there would be up to 7 technical indicators and for me it is quite cluttered but it makes sense to him and he rakes in plenty pips every day!
So yes you are quite right statistically speaking and afterall the markets change from bear markets to bull markets all the time responding to the Interest rate policies of the respective countries we are dealing with and the sentiment of the market whether there is fear in the market where safe haven currencies such as USD, CHF or JPY will begin to go strong while risky currencies such as GBP, CAD, EUR to weak or there is no fear and the safe haven currencies go weak while the risky currencies go strong. I think we stand to gain from one another here and I appreciate all of us as i perceive there are great Traders here in all of us. We only need to patiently listen to one another and correct ourselves and learn from ourselves so that we become better traders. Thank you Sir.
"With God all things are possible"
  • #120,006
  • Jun 6, 2021 10:31am Jun 6, 2021 10:31am
Quoting tommydoginti
{quote} As of the “Extra” part. Two things you should know before deciding whether you would believe it is intentional or not. in short, Emmanuel was trying to deceive you that the repainting feature of the TDI Green Red (just so you know, TDI itself is not a repainting indicator). the reason behind? I don’t know but definitely help you to profit is not on the list. 1. On MT4, custom indicators “repaint” is not something new. It is an infamous issue of MT4 for custom indicators, if not coded with twist, to have wrong calculations especially at new...
Thank you Tommy and yes Trading view is a great and very flexible app online with a lot of resources for traders to use and it has an edge over metatrader. But i sincerely don't think Emmanuel was trying to deceive me. I feel he is offering me help which is not bad and if you have a better way or solution please feel free to offer to me or anyone Sir as it will help. We all come from different backgrounds and with different experiences that we can share and become more better at trading. Thank you very much for the input.
"With God all things are possible"
  • #120,007
  • Jun 6, 2021 10:35am Jun 6, 2021 10:35am
Quoting tommydoginti
{quote} With that, and on behalf of other traders picking the right direction, I thank you and other posters here for contributing your money to us. trading is a zero sum game (minus cost) Who said “NFP favours USD”? Thanks Read news, and study the true impact of the news. {image}
True Tommy the NFP did not favour the USD. Even though the earnings was good the data was poor and perhaps the market did the buy the rumour sell the news thing if you look at the buildup to the Friday NFP release USD had been strong but it was dumped on Friday. So yes it did not actually....
"With God all things are possible"
  • #120,008
  • Jun 6, 2021 10:36am Jun 6, 2021 10:36am
Quoting Sammforeal
{quote} Thank you Sir you are quite right. There is no full proof or holy grail approach to analysis and applying Technical Analysis. Trend following and taking trades off the higher timeframe is just one of the approaches. I strongly believe there are other ways and means of raking in huge pips consistently and it is good for a trader to know them. However Hasib i discovered in my own personal case following the higher timeframes and executing trades that agree with them seem to be easy and sort of simple even though it fails at times. And i have...

I would say, welcome to the Trading Made Simple trading system thread.

This is a thread about the Trading Made Simple strategy for trade decision, which is dependent on TDI as the primary tool, with optional supplement of 5ema and stoch.

We are adults and should think maturely (sadly for some are plain stupid), you can read and understand what is going on in this thread and if the system works for you. A heads up is some people post here for their personal agenda such as exert hatred and humiliate him/herself by creating controversy out of nowhere, some “noise” you will have to endure if revising recent posts.

good luck and trade well
  • #120,009
  • Jun 6, 2021 10:42am Jun 6, 2021 10:42am
Quoting Sammforeal
{quote} True Tommy the NFP did not favour the USD. Even though the earnings was good the data was poor and perhaps the market did the buy the rumour sell the news thing if you look at the buildup to the Friday NFP release USD had been strong but it was dumped on Friday. So yes it did not actually....
I was always on the SELL side of USD upon NFP (Buy for GBPUSD for instant).

It was the “good news” that increased the likelihood of USD drop. I was looking at the forecast values only to determine my bias because I would enter trades before the news. Sediment for high impact news is usually high and go to the supposed direction instead of the opposite (eg manipulation)
  • #120,010
  • Jun 6, 2021 11:11am Jun 6, 2021 11:11am
Quoting tommydoginti
{quote} I was always on the SELL side of USD upon NFP (Buy for GBPUSD for instant). It was the “good news” that increased the likelihood of USD drop. I was looking at the forecast values only to determine my bias because I would enter trades before the news. Sediment for high impact news is usually high and go to the supposed direction instead of the opposite (eg manipulation)
Yes very true Tom and congrats for the correct trade then. Its always nice when trades fall into your analysis and catch the move...
"With God all things are possible"
  • #120,011
  • Jun 6, 2021 11:12am Jun 6, 2021 11:12am
Quoting tommydoginti
{quote} I would say, welcome to the Trading Made Simple trading system thread. This is a thread about the Trading Made Simple strategy for trade decision, which is dependent on TDI as the primary tool, with optional supplement of 5ema and stoch. We are adults and should think maturely (sadly for some are plain stupid), you can read and understand what is going on in this thread and if the system works for you. A heads up is some people post here for their personal agenda such as exert hatred and humiliate him/herself by creating controversy out...
Lol...thank you Tommy I think i understand you...
"With God all things are possible"
  • #120,012
  • Jun 6, 2021 11:22am Jun 6, 2021 11:22am
In my honest opinion, trading should always be made simple. The more you try to overcomplicate things, the more you're attracting those losses. So always trade in a way that is understandable to you. Why copy others when most people fail in Forex trading? Do what you think is best for you.
  • #120,013
  • Jun 6, 2021 12:45pm Jun 6, 2021 12:45pm
People don't want to use moving average they think moving average is lag price. They want to trade like smart money so Pick Tops and Bottoms. Look what happen their.
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MA provides the market's current direction and strength.
  • #120,014
  • Jun 6, 2021 1:08pm Jun 6, 2021 1:08pm
It is London 7pm and the weekly planning session is over2 hours ago. This week' planning session took longer as members have a lot to share and discuss each have done their own WTDA Weekly Tope Down Analysis.

Having done our WTDA, we know every pair' Market Type -
- Trending
- Sideways-Wide-Range
- Sideways-Narrow-Range

For these 6 currency pair groups:
We pick one pair from each group for our 4H Swing Trading and our Daily/Weekly Swing Trading.
Most pairs are Sideways and we avoid the Sideways-Narrow-Range pairs but would be stalking them for potential breakouts and change in the Market Type.

these currency pairs/groups for both 4H swing trading and also Daily/Weekly swing trading.


Group#1
AUDUSD
EURUSD
GBPUSD
USDCAD
NZDUSD

Group#2
EURAUD
EURNZD
EURCAD
EURGBP***

Group#3
GBPAUD
GBPNZD
GBPCAD

Group#4
USDJPY
AUDJPY
EURJPY
GBPJPY
SGDJPY

Group#5
AUDCAD
AUDNZD
NZDCAD

Group#6
AUDSGD
EURSGD
GBPSGD
USDSGD
NZDSGD

https://www.forexfactory.com/thread/...2#post13567512

Now I have my trade plans ready when New York Open in a few hours. No rush to buy and sell on Monday after last Friday NFP.

Trade Well Folks. Stay Safe ...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #120,015
  • Jun 6, 2021 1:09pm Jun 6, 2021 1:09pm
Quoting hasib
People don't want to use moving average they think moving average is lag price. They want to trade like smart money so Pick Tops and Bottoms. Look what happen their. {image}
What happened last week? Cryptos vs Gold

What is Elon Musk thinking and saying next?

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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #120,016
  • Jun 6, 2021 1:13pm Jun 6, 2021 1:13pm
Quoting RjayBulaong
In my honest opinion, trading should always be made simple. The more you try to overcomplicate things, the more you're attracting those losses. So always trade in a way that is understandable to you. Why copy others when most people fail in Forex trading? Do what you think is best for you.
that would be Trading Made Simple Rule#7

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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #120,017
  • Jun 6, 2021 1:25pm Jun 6, 2021 1:25pm
Quoting Sammforeal
{quote} Lol...thank you Tommy I think i understand you...

hey @Sammforreal

just read your PM ...

lets trade when the market is open and post our charts live.

"NFP favour USD"

there are guys here who talk like experts knowing which direction NFP will move the USDJPY. All retail traders are taken to the slaughter speculating at NFP Fridays.
Look at your Weekly charts, how many pairs changed its market conditions after NFP except for a lot more volatility before and after that data release.
Keep on gambling, it goes Up , it goes Down. It is so easy to write like market analysts after the fact to be right.

My favourite darling Kathy Lien only got it right 60% of the time. Most of the time, her post-event analysis are all logical.

But wait a minute, we have another NFP on July 02, its another OFAMA type event.

Do you know OFAMA?
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #120,018
  • Jun 6, 2021 1:26pm Jun 6, 2021 1:26pm
Quoting Sammforeal
{quote} Yes very true Tom and congrats for the correct trade then. Its always nice when trades fall into your analysis and catch the move...

it is coin toss 50:50.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #120,019
  • Jun 6, 2021 1:27pm Jun 6, 2021 1:27pm
Quoting tommydoginti
{quote} I was always on the SELL side of USD upon NFP (Buy for GBPUSD for instant). It was the “good news” that increased the likelihood of USD drop. I was looking at the forecast values only to determine my bias because I would enter trades before the news. Sediment for high impact news is usually high and go to the supposed direction instead of the opposite (eg manipulation)

we have another NFP#7 on July 02 ... we shall see.

then you have another 5 more to practice, practice, practice ... until Dec 2021.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #120,020
  • Jun 6, 2021 1:31pm Jun 6, 2021 1:31pm
Quoting Sammforeal
{quote} Thank you Tommy and yes Trading view is a great and very flexible app online with a lot of resources for traders to use and it has an edge over metatrader. But i sincerely don't think Emmanuel was trying to deceive me. I feel he is offering me help which is not bad and if you have a better way or solution please feel free to offer to me or anyone Sir as it will help. We all come from different backgrounds and with different experiences that we can share and become more better at trading. Thank you very much for the input.

Big E' #557

It's like the money you take to Las Vegas. You hope to win but don't often... Your taking money for entertainment and relaxation... So I don't give it a second thought... It's entertainment money


Quoting eelfranz
Klops... (503) I'm not looking for 15 pips profit... more like 150 ! The money I put into my last trading account ($10,000) I don't even think about it. It's like the money you take to Las Vegas. You hope to win but don't often... Your taking money for entertainment and relaxation... So I don't give it a second thought... It's entertainment money as I said... Besides It always grows larger... I REMEMBER THE DAYS WRINGING OUT MY HANDS FOR MY $500 ACCOUNT... THE SKIES FALLING ! Help, help, help. If I enter a trade lets say and I'm monitoring the trade...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
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