Trading Made Simple(r) | Page 403 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Trading Made Simple 151,872 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

Attachments: Trading Made Simple(r)
Exit Attachments

Trading Made Simple(r)

  • #8,041
  • Edited 9:41am Jun 6, 2022 9:30am | Edited 9:41am
When I created this thread on May 19, 2019 (I just realized that that day was my grandmother's 100th birthday ) I signed off of Page #1, Post #1 with:

My hope is that other traders will recognize the power of these templates and contribute even more ways to trade them, hopefully in ways even more effective than I have presented, and that they help traders make a lot more money trading the Forex.

- RobinHood

And now that has happened many, many times and we are all better off because of it.

Thanks to everyone who has contributed!!!
Always a Student, Never a Master - Emulate What Works
  • #8,042
  • Edited 10:18am Jun 6, 2022 10:07am | Edited 10:18am
Here's an interesting situation.

1. Price is above the RoadMap, and price is "channeling at the top" and a Continuation trade has set up, strongly implying to buy.

2. BUT, there is divergence between price and the RobinHood Oscillator which implies price is going down.

3. One of these 2 are wrong, but who?

4. What do we do?? The answer is, no trade. Sit on your hands and wait for more information.
Attached Image (click to enlarge)
Click to Enlarge Name: Trading Divergence.PNG Size: 128 KB


Update:

Look who called it correctly...Mr. RHO!
Attached Image (click to enlarge)
Click to Enlarge Name: RSO Was Right.PNG Size: 144 KB
Always a Student, Never a Master - Emulate What Works
  • #8,043
  • Jun 6, 2022 10:26am Jun 6, 2022 10:26am
Quoting iwan73
I dont have TC2000 software so i tried to find something else i dont have to pay extra money. I cant find any good free online stock screener. I have IB account but their screener is worthless if you want to use own MA or MACD properties. But i remind myself that i have old Metastock software. End of Day version so only for D1, W1, MN1 charts. Changing MACD parameters from standard 12,26,9 to custom is not possible but i have coded new indicator which meets all criteria(6,10 and 11,13). Criterias i use in stock explorer: LONG 1. Close >EMA34 2....
MACD(6,10) >MACD(11,13)

I think you should also add this for Long trades

MACD(11,13) > 0

Because that is very important aspect of the RHO.

*Also, I am using 7,10 now instead of 6,10.
Always a Student, Never a Master - Emulate What Works
  • #8,044
  • Jun 6, 2022 10:32am Jun 6, 2022 10:32am
hey, i got some bad trades that im trying to understand how to avoid, any suggestions?
like this one on GBPCHF, everything looks good on D1 & H4 indicators, trend is down MN1, W1, D1, H4
Attached Image (click to enlarge)
Click to Enlarge Name: gbpchf-h4-fusion-markets-pty.png Size: 45 KB
  • #8,045
  • Jun 6, 2022 10:59am Jun 6, 2022 10:59am
Quoting benjamin89
hey, i got some bad trades that im trying to understand how to avoid, any suggestions? like this one on GBPCHF, everything looks good on D1 & H4 indicators, trend is down MN1, W1, D1, H4 {image}
Attached Image (click to enlarge)
Click to Enlarge Name: GBPCHF 4 Hr..PNG Size: 93 KB

I don't know which trades you got chopped up on, but here's how I see it.

1. You should have been taking short trades only (until it broke out above the RoadMap).

2. You should not have taken any trades when Price was inside of the RoadMap.

3. I don't know if you considered those blue and magenta arrows smTMMS oscillator or not, but you should not.

4. Aside from that, sometimes it's just: "Shit Happens" no matter what you do.
Always a Student, Never a Master - Emulate What Works
  • #8,046
  • Edited 11:34am Jun 6, 2022 11:21am | Edited 11:34am
A continuation of Post #8,042

Note: When I say "Price almost always stops at/price in stocks", I don't mean it never goes through, but it does usually bounce around it at least some, some it's a good place to exit a profitable trade when day trading.
Attached Image (click to enlarge)
Click to Enlarge Name: TQQQ Day Trades.PNG Size: 141 KB


Attached Image (click to enlarge)
Click to Enlarge Name: Open & Close Lines.PNG Size: 151 KB
Always a Student, Never a Master - Emulate What Works
  • #8,047
  • Jun 6, 2022 11:25am Jun 6, 2022 11:25am
Quoting xinitial
{quote} you can try this one {file} {image}
can you help me out with this template, i'm clearly missing indicators and the bottom window is all weird I tried the options but i have no idea what is going on here
Attached Image (click to enlarge)
Click to Enlarge Name: apagar.jpg Size: 225 KB
  • #8,048
  • Jun 6, 2022 11:35am Jun 6, 2022 11:35am
Quoting RobinHood
{quote} {image} I don't know which trades you got chopped up on, but here's how I see it. 1. You should have been taking short trades only (until it broke out above the RoadMap). 2. You should not have taken any trades when Price was inside of the RoadMap. 3. I don't know if you considered those
blue and magenta arrows smTMMS oscillator or not, but you should not. 4. Aside from that, sometimes it's just: "Shit Happens" no matter what you do.
thanks for the answer Robinhood, i don't use the arrows, i get another confirmation when the SMI Line is under Zero.
when you say : 1. You should have been taking short trades only (until it broke out above the RoadMap).

do you mean that after the last high that broke the EMA's ( blue circle) i shouldn't have taken or looked for any shorts trades?
Attached Image (click to enlarge)
Click to Enlarge Name: GBPCHF 4 Hr..PNG Size: 93 KB
  • #8,049
  • Jun 6, 2022 11:39am Jun 6, 2022 11:39am
Quoting Polimini
{quote} can you help me out with this template, i'm clearly missing indicators and the bottom window is all weird I tried the options but i have no idea what is going on here {image}
You are missing the Robin Hood oscillator and swap the bottom window Macd with the one just posted by Matsu.
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 16 KB
  • #8,050
  • Edited 12:06pm Jun 6, 2022 11:40am | Edited 12:06pm
Quoting Polimini
{quote} can you help me out with this template, i'm clearly missing indicators and the bottom window is all weird I tried the options but i have no idea what is going on here {image}
Yes, delete yours and use the RSO Oscillator in post #8,034.

BTW, I never could make it work correctly either on MT4.
Always a Student, Never a Master - Emulate What Works
  • #8,051
  • Edited 1:57pm Jun 6, 2022 12:04pm | Edited 1:57pm
Quoting benjamin89
{quote} thanks for the answer Robinhood, i don't use the arrows, i get another confirmation when the SMI Line is under Zero. when you say : 1. You should have been taking short trades only (until it broke out above the RoadMap). do you mean that after the last high that broke the EMA's ( blue circle) i shouldn't have taken or looked for any shorts trades? {image}
You should have only looked for or taken short trades.

Also, no initiating trades inside or very near the outer ma's of the RoadMap.
Attached Image (click to enlarge)
Click to Enlarge Name: Far Right.PNG Size: 89 KB
Always a Student, Never a Master - Emulate What Works
  • #8,052
  • Jun 6, 2022 12:16pm Jun 6, 2022 12:16pm
Someone just asked me in a PM if I am using a 4 ema or a 4 sma.

The answer is: SMA

I had a typo in post # 8,039 that said 4 ema.

4 sma, shift: -1 <-- Just to be clear that's Shift, minus 1.
Always a Student, Never a Master - Emulate What Works
  • #8,053
  • Jun 6, 2022 12:26pm Jun 6, 2022 12:26pm
Update to Post #8,046
Attached Image (click to enlarge)
Click to Enlarge Name: Pesky Red Line.PNG Size: 140 KB

Just to clarify, No Trade at 1:25 pm.
Always a Student, Never a Master - Emulate What Works
  • #8,054
  • Jun 6, 2022 12:30pm Jun 6, 2022 12:30pm
Quoting benjamin89
hey, i got some bad trades that im trying to understand how to avoid, any suggestions? like this one on GBPCHF, everything looks good on D1 & H4 indicators, trend is down MN1, W1, D1, H4 {image}
How about some macd divergence on the chart? suggesting think again about going short. I agree everything is saying go short but we cant win every time and I too have been suffering these past two weeks. Forget the trade and move on.
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 41 KB
  • #8,055
  • Jun 6, 2022 1:01pm Jun 6, 2022 1:01pm
Quoting 40PipsAlan
{quote} How about some macd divergence on the chart? suggesting think again about going short. I agree everything is saying go short but we cant win every time and I too have been suffering these past two weeks. Forget the trade and move on. {image}
ye i will try to see for divergences before trades maybe that will be a good filter
  • #8,056
  • Jun 6, 2022 1:09pm Jun 6, 2022 1:09pm
Quoting benjamin89
{quote} ye i will try to see for divergences before trades maybe that will be a good filter
This might help.
Attached File(s)
File Type: mq4 MACD_Divergence_V1.2.mq4   25 KB | 330 downloads
  • #8,057
  • Jun 6, 2022 1:20pm Jun 6, 2022 1:20pm
I just mentioned some of this this recently in different post.

Every Forex pair has it's own "mostly unique" personality. I don't believe that there is any way for most people to truly know the personality of every pair (at least not well enough) which is about 42 pairs that I know of.

For Example, the AUD interacts MUCH differently with the USD than it does with the NZD. Here's the proof, both are Daily charts. The AUSUSD is on the left and the AUDNZD is on the right.
Attached Image (click to enlarge)
Click to Enlarge Name: Proof.PNG Size: 163 KB
So there's the definitive proof that the AUD moves differently when it's paired with different currencies.

This is why we must learn the personalities of each pair, and not each currency.

Also, you would be best served to only trade one "WELL TRENDING" pair in the beginning, UNTIL you learn it's personality inside and out AND are profitable trading it. Then one-by-one you "could" add one more, etc. Rinse and repeat.

"The dog that chases 2 rabbits at the same time catches neither"

This thing about looking at and/or trading 28 or 42 pairs is just plain not a smart way to trade unless MAYBE you have a mechanical trading system that has been sufficiently back-tested and proven to be profitable on all of them (which I doubt would ever happen).

Now, as many of you know, I do do it with stocks. I POSITION trade up 30 different stocks at the same time, but that's a completely different story. I am picking out of about 7,000 stocks to trade and I don't need to know their personalities when position trading BUT I do need to know their personalities when I am day trading. And to be honest, I am only trading 3 of them currently. 2 of them I am position trading, and 1 of them I am day trading.

99% of the time I only day trade the one same stock every day and currently that's either the QQQ, QLD or the TQQQ BECAUSE all 3 move IDENTICALLY to each other. So if you know one's personality, you know all 3's. But specifically, right now, it's the TQQQ because it's about $33/share I am trying to perfect my trading template on it, and then I will move back to trading the QQQ because it's about $308/share, so on 100 shares you can make way more money vs. the TQQQ. I think of the TQQQ as using "training wheels".

Remember what Bruce Lee said:

"I fear not the man who has practiced 10,000 kicks once, but I fear the man who has practiced one kick 10,000 times."
Always a Student, Never a Master - Emulate What Works
  • #8,058
  • Jun 6, 2022 3:31pm Jun 6, 2022 3:31pm
Quoting RobinHood
{quote} You need the 11-13 MACD to overlay and scale with the 7-10 MACD. On the price chart above, you mentioned to add 2 EMA (4 and 9) but you didnt mention if they apply to last, close, high, low.... I think the only thing I did right was the road! Lol Thank you!! Last/Close I have slightly changed my 4 EMA to 4 SMA -1. <--- Please also note that I use a SIMPLE moving average here. {image} 9 EMA {image}
Hi RobinHood,
You have changed 4ema to 4sma-1,why you have changed to -1, if you make it -1 you cant see average on this day, how you can benefit from that, what is your goal from that?
And I want to learn your tp level in stock market, it may be higher than the road map at a certain rate, or while RHO begun to reverse or cross of two macd in RHO. The cross of two macd can bee too late because every body understands the drop and it drops hardly(long candle). Are you waiting the cross of RHO or what else? Thank you.
  • #8,059
  • Jun 6, 2022 4:27pm Jun 6, 2022 4:27pm
Quoting Celal
{quote} Hi RobinHood, You have changed 4ema to 4sma-1,why you have changed to -1, if you make it -1 you cant see average on this day, how you can benefit from that, what is your goal from that? And I want to learn your tp level in stock market, it may be higher than the road map at a certain rate, or while RHO begun to reverse or cross of two macd in RHO. The cross of two macd can bee too late because every body understands the drop and it drops hardly(long candle). Are you waiting the cross of RHO or what else? Thank you.
Seeing where the 4 ema is on the last bar on a chart doesn't matter to me. The 4 & 9 ema's don't really influence my trading decisions very much using THIS template, BUT without them I feel as if I would feel like I was walking around in public naked. They just are there MOSTLY to put price somewhat into perspective. I have always used moving averages since the day I started trading.

What matters to me most is which side of the RoadMap price is on, and to only make trades in that direction AND then what the RobinHood Oscillator is telling me.

Do not think that I have alienated my previous indicators in this thread. I HAD HAD HAD to create something similar for stocks because I can't duplicate the smTMMS indicator for stocks. I just evolved because I HAD TO. See, when I first started trading stocks, they limited me as to how many indicators I could put on a chart, then I eventually upgraded my plan (which costs more) so I could add more.

If you look at the RobinHood Oscillator vs. the smTMMS indicator, they are very similar in certain ways. They often rise and dip in similar ways.
Attached Image (click to enlarge)
Click to Enlarge Name: smTMMS vs RobinHood Oscillator.PNG Size: 107 KB

Yes, MOST OFTEN I wait until both the yellow and the magenta are above the 0 line to enter a long trade and vice-versa for short trades.

While in a trade sometimes I exit when the yellow ma crosses below the magenta ma, and sometimes I exit when the yellow MACD dips behind the magenta MACD.
Always a Student, Never a Master - Emulate What Works
  • #8,060
  • Jun 6, 2022 4:34pm Jun 6, 2022 4:34pm
Quoting Matsu
{quote} Try this indicator {file}
Thanks Matsu, appreciated, I am always challenged when I only have a MQ4 to down load and no FX4, is there some material to read somewhere that would teach me the correct protocol.
20 traders viewing now, 2 are registered:
,
FX88FX