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Monitor for 'Trading Made Simple' system 565 replies

Trading Made Simple the right way, and other trading lessons 334 replies

Indicators for the 'Trading Made Simple' system 343 replies

MTF Indicators for the 'Trading Made Simple' system 241 replies

Trading Made Simple system follower - Thanks to eelfranz 9 replies

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Trading Made Simple

  • #131,741
  • May 12, 2022 7:13am May 12, 2022 7:13am
Quoting emmanuel7788
{quote} USDOLLAR May12 Trade update Frankfurt Open - slowly but surely - no chance to BE trades yet but I can wait {image}

USDOLLAR May12 Trade update:

- today US PPI data release at New York 10:30am

- I move all positions SL to breakeven and will relax now to see if PPI will move USD higher,

- but the spike down can be deadly for small stops

Attached Image (click to enlarge)
Click to Enlarge Name: USDOLLAR May12 BE befre PPI data 12-5-2022 8-09-39 pm.png Size: 24 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #131,742
  • May 12, 2022 9:25am May 12, 2022 9:25am
Quoting emmanuel7788
{quote} USDOLLAR May12 Trade update: - today US PPI data release at New York 10:30am - I move all positions SL to breakeven and will relax now to see if PPI will move USD higher, - but the spike down can be deadly for small stops {image}
DEAR EMMANUEL
WILLYOU BE SO KIND TO TELL ME WHWT KIND
OF MA , THE WHITE ONE , IS IN YOUR PICTURES
THANK YOU VERY MUCH FOR YOUR TIME

Dan
  • #131,743
  • May 12, 2022 6:47pm May 12, 2022 6:47pm
Quoting dansmol
{quote} DEAR EMMANUEL WILLYOU BE SO KIND TO TELL ME WHWT KIND OF MA , THE WHITE ONE , IS IN YOUR PICTURES THANK YOU VERY MUCH FOR YOUR TIME Dan

hi @dansmol

That is the LWMA5 used by some TMS 5-Method traders back in 2011 and it was an optional feature added to the TMS_V19 EA by seller9.

You can use it to check several things, for example
- size of the price bar/HA candle in relation to the LWMA5 and EMA5
- use the LWMA5 for price action bounce continuation trades after a pull-back or pause
- use the LWMA5/EMA5 for trailing stop
- use the LWMA5/EMA5 for exit
etc.

study old charts and write your own simple rules

Attached Image (click to enlarge)
Click to Enlarge Name: 5LWMA Close.png Size: 17 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #131,744
  • May 12, 2022 6:50pm May 12, 2022 6:50pm
Quoting emmanuel7788
{quote} JPYBasket May12 trade update: - re-entry was at the TP2 2R level 8281 - move initial SL TP3 3R level to lock-in 1R profit - TP is set at the old TP5 level
Attached Image (click to enlarge)
Click to Enlarge Name: JPYBasket May12 trade update TP1 locked 12-5-2022 7-58-09 pm.png Size: 28 KB


{image}

JPYBasket May12 trade closed

- hit TP5 level 8478

- a 3R trade

Attached Image (click to enlarge)
Click to Enlarge Name: JPYBasket May12 trade closed 3R 13-5-2022 7-15-52 am.png Size: 33 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #131,745
  • May 12, 2022 7:03pm May 12, 2022 7:03pm
Quoting emmanuel7788
{quote} EURCAD May12 trades closed and re-entry - first batch closed, multi-lot entries all closed at once - re-entry and running now
Attached Image (click to enlarge)
Click to Enlarge Name: EURCAD May12 trade closed update 12-5-2022 7-55-06 pm.png Size: 42 KB


{image}

EURCAD May13 trade update:

- second re-entry trade still running with CSTSL

- exited 2 lots so far +30pips each

- this CSTSL will most probably be stopped out when the H4 price bar/candle fails to make lower low and small candles consolidation

Attached Image (click to enlarge)
Click to Enlarge Name: EURCAD May13 trade update 13-5-2022 7-54-03 am.png Size: 49 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #131,746
  • May 12, 2022 7:10pm May 12, 2022 7:10pm
Quoting emmanuel7788
{quote} EURCAD May12 UPDATE: - H4 would be an early setup and entry - if Daily closes below its 10EMA, it is a good sign - we follow the Monthly and Weekly

Attached Image (click to enlarge)
Click to Enlarge Name: EURCAD May12 H4 pipware chart 12-5-2022 3-15-41 pm.png Size: 40 KB


{image}

EURCAD May13 UPDATE Tokyo Open

- Daily closed below its10 EMA

- long-swing sell target is the WCC Low 1.3388

- but today is Friday, are you prepared to hold positions over this weekend?

- what other trading options do your have for today' day trading?

Attached Image (click to enlarge)
Click to Enlarge Name: EURCAD May13 H4 TOK pipware 13-5-2022 8-06-27 am.png Size: 40 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #131,747
  • May 12, 2022 7:33pm May 12, 2022 7:33pm
Quoting emmanuel7788
{quote} XAUUSD May12 trades update - closing this week' batch before New York Open in 10minutes - 1628pips {image}

XAUUSD May13 opening

- it closed below MN swing level 1829...

- more selling 'long swing sell' till the next level 1778...

- today's intraday pull-back to 1833.40 is possible so we so the usual sell the M5 with 0.5ADR(100) as the order distance and time delay 4-hours between orders.

Attached Image (click to enlarge)
Click to Enlarge Name: XAUUSD May13 closed beow 1829 13-5-2022 8-27-58 am.png Size: 23 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #131,748
  • May 12, 2022 7:44pm May 12, 2022 7:44pm
Emma why is Uj not seeking like ec right now??
  • #131,749
  • May 12, 2022 7:45pm May 12, 2022 7:45pm
Emma i mean EJ not selling like ec
  • #131,750
  • May 12, 2022 8:03pm May 12, 2022 8:03pm
Quoting Enagy
Emma i mean EJ not selling like ec

hi Enagy

It is very important to have a system strategy and not simply trade any pair and following a simple indicator green line crosses red line, etc.

My system strategy is developed with Big E' original 5-Method without any oscillators. Oscillator like the Stochastics, RSI , and the (TDI which is basically MAs of the RSI) are good for sideways ranging market type BUT not the best when trending market type.

And like Big E said: you can trade his 5-Method without the TDI provided you have mastered the method, i.e. Price Action + Support/Resistance Trading.

My system strategy is based on fundamentasl+technicals+ market sentiments, i.e. to trade only one pair from each of the 6 groups below:
> Do your top down analysis for every pair
> Pick the pair to trade with the best potential to run more than 3R
> Like Big E pick only the best setups

The 7th group is a special group reserved for specific Markets Type

Trading Currency Pairs – Seven(7) Groups w.e.f May 2022

Group#1
AUDUSD
EURUSD
GBPUSD
USDCAD
USDCHF
NZDUSD

Group#2
EURAUD
EURNZD
EURCAD
EURCHF
EURGBP***

Group#3
GBPAUD
GBPNZD
GBPCAD
GBPCHF

Group#4
USDJPY
AUDJPY
EURJPY
GBPJPY
NZDJPY
CADJPY
CHFJPY
SGDJPY

Group#5
AUDCAD
AUDNZD
NZDCAD

Group#6
AUDSGD
EURSGD
GBPSGD
USDSGD
NZDSGD

Group#7
https://www.fxcm.com/markets/forex-baskets/
EMBasket
JPYBasket
USDollar
XAUUSD
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #131,751
  • May 12, 2022 8:09pm May 12, 2022 8:09pm
Thanks emma have rechecked and I have seen that was the one who massed up
  • #131,752
  • May 13, 2022 12:07am May 13, 2022 12:07am
Quoting emmanuel7788
{quote} hi Enagy It is very important to have a system strategy and not simply trade any pair and following a simple indicator green line crosses red line, etc. My system strategy is developed with Big E' original 5-Method without any oscillators. Oscillator like the Stochastics, RSI , and the (TDI which is basically MAs of the RSI) are good for sideways ranging market type BUT not the best when trending market type. And like Big E said: you can trade his 5-Method without the TDI provided you have mastered the method, i.e. Price Action + Support/Resistance...
What is Big E strategy. where to learn it. can u help in this regard. Thanks.
Arun
  • #131,753
  • May 13, 2022 4:17pm May 13, 2022 4:17pm
Quoting emmanuel7788
{quote} hi Tricolor77 WELCOME to eelfranz' Trading Made Simple I have this summary just for you to get started: 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...

I am not sure if I thanked you. If I didn`t, please, have my most kind gratitude.
I have a lot to study to reach the level I can form good questions.
Enjoy your weekend, peeps.
  • #131,754
  • May 13, 2022 7:56pm May 13, 2022 7:56pm
Quoting arunthegreat
{quote} What is Big E strategy. where to learn it. can u help in this regard. Thanks.
hi Arun

Big E only shared his two methods - 21/233 Method and 5-Method. Post#3018, Post#4104,

He did not share any system strategy but in his Post#1, he traded his 4hr and 1hr according to his local time Pacific time 3 hours behind EST.
His risk per trade is between 15% and 30% of his USD10,000 account deposit. That money is what he considered to be for relaxation and entertainment he would take to Las Vegas Post#557.
Personally I do not think this is any kind of system strategy for trading retail spot forex. It is more like gambling and he knew he would lose USD10,000 if he was not careful and he was prepared for that to happen. He was not a rookie trader because he traded the US stock markets for 10 years before he started trading forex.

You need to learn his trading style in his old thread { here } and that may lead you to the origin of his 5-Method. Remember, he traded the US stock markets from mid-90s and he had a few trading coaches and trading mentors. One of his trading coach is Lance Beggs whom I also subscribed for very long time.

You will need to spend time and develop your own winning trading systems that fits you and do lots or practice, practice, practice >>> Big E' Post#296.

There are plenty online resources like this example "How to Develop a Winning Systems that Fits You". You will find them in Amazon and ebay, too.
I use this as my guide when I develop my trading systems:

Attached Image (click to enlarge)
Click to Enlarge Name: How to Develop a Winning System.png Size: 26 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #131,755
  • May 13, 2022 8:01pm May 13, 2022 8:01pm
Quoting Tricolor77
{quote} I am not sure if I thanked you. If I didn`t, please, have my most kind gratitude. I have a lot to study to reach the level I can form good questions. Enjoy your weekend, peeps.
Like the OP eelfranz said in his Post#1 : "We want you to be an active member asking questions, posting charts and making observations when possible"

You will learn fast when you read this thread and ask all your questions. Learn EVERYTHING.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #131,756
  • Edited 8:24pm May 13, 2022 8:13pm | Edited 8:24pm
Quoting emmanuel7788
{quote} US Markets May12 Tokyo Open - it is one way ... DOWN after US CPI data release. - sell, sell, sell ... {image}

US Markets May 13 closed

- it was a Friday the 13th brutal vengeance by the bulls

- almost took out previous two days gains of the bears

> what's in store for next week? will the bears be back?

Attached Image (click to enlarge)
Click to Enlarge Name: US Markets May13 Friday 14-5-2022 9-02-50 am.png Size: 33 KB


>>> for me, it will be "ride the bulls and hunt the bears"

>>> beware of bull-Open Traps!
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #131,757
  • May 13, 2022 8:26pm May 13, 2022 8:26pm
Quoting emmanuel7788
{quote} US Markets May 13 closed - it was a Friday the 13th brutal vengeance by the bulls - almost took out previous two days gains of the bears > what's in store for next week? will the bears be back? {image} >>> for me, it will be "ride the bulls and hunt the bears" >>> beware of bull-Open Traps!

"ride the bulls and hunt the bears"

>>> beware of bulls and bears -Open Traps

Attached Image (click to enlarge)
Click to Enlarge Name: LanceBeggs Open Traps.png Size: 20 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #131,758
  • May 13, 2022 8:33pm May 13, 2022 8:33pm
Quoting emmanuel7788
{quote} EURCAD May13 UPDATE Tokyo Open - Daily closed below its10 EMA - long-swing sell target is the WCC Low 1.3388 - but today is Friday, are you prepared to hold positions over this weekend? - what other trading options do your have for today' day trading? {image}
Attached Image (click to enlarge)
Click to Enlarge Name: EURCAD May13 H4 TOK pipware 13-5-2022 8-06-27 am.png Size: 40 KB


{image}

EURCAD May13 New York Close 5pm

- almost there WCC Low 1.3388 but not quite

- next week, it will be Daily CONTINUATION trading with risk management 'R' and Position Sizing

- we shall see if the WCC Low 1.3388 will be tested and break below and probably form a new WCC ... we never know.

Attached Image (click to enlarge)
Click to Enlarge Name: EURCAD May13 NYClose 14-5-2022 9-26-52 am.png Size: 41 KB


> do you believe in
Weekly Mother Bar break ?
or
> Weekly Inside Bar break?
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #131,759
  • May 13, 2022 8:36pm May 13, 2022 8:36pm
Quoting emmanuel7788
{quote} EURCAD May13 New York Close 5pm - almost there WCC Low 1.3388 but not quite - next week, it will be Daily CONTINUATION trading with risk management 'R' and Position Sizing - we shall see if the WCC Low 1.3388 will be tested and break below and probably form a new WCC ... we never know. {image} > do you believe in Weekly Mother Bar break ? or > Weekly Inside Bar break? {image}

> do you believe in

> Weekly Mother Bar break?
or

> Weekly Inside Bar break?


Attached Image (click to enlarge)
Click to Enlarge Name: EURCAD Weekly May13 NYClosed 14-5-2022 9-34-07 am.png Size: 22 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #131,760
  • May 13, 2022 8:41pm May 13, 2022 8:41pm
Quoting emmanuel7788
{quote} EURCAD May13 trade update: - second re-entry trade still running with CSTSL - exited 2 lots so far +30pips each - this CSTSL will most probably be stopped out when the H4 price bar/candle fails to make lower low and small candles consolidation {image} {image}

EURCAD May 12 and 13 trades closed

- using THV CaveManager CM EA to manage multi-lot entries and exits

- last position last night was stopped out by CM Capital Protection setting as price pulled back during the NY 9:30am candle

Attached Image (click to enlarge)
Click to Enlarge Name: EURCAD May12 and 13 trades closed 14-5-2022 8-25-22 am.png Size: 38 KB




...

...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
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