Trading Made Simple | Page 6895 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

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

Attachments: Trading Made Simple
Exit Attachments

Trading Made Simple

  • #137,881
  • Feb 8, 2023 6:38am Feb 8, 2023 6:38am
Solid retest of support level on gold, i will probably take this trade as soon as the current candle closes, what do you think @emmanuel7788 are you bullish on gold in the short run?
Attached Image (click to enlarge)
Click to Enlarge Name: Schermafbeelding 2023-02-08 om 13.34.39.png Size: 68 KB
  • #137,882
  • Feb 8, 2023 6:59am Feb 8, 2023 6:59am
Gold has shifted since my previous post, probably wont trade gold for another 1-2 hours
  • #137,883
  • Feb 8, 2023 7:01am Feb 8, 2023 7:01am
Will probably take a short on EUR/JPY as soon as it shows some bearish candles on the almost reached resistance level, after the short i will buy back to catch the possible move up at the next support level, view screenshot for better context. What do you guys think?
Attached Image (click to enlarge)
Click to Enlarge Name: Schermafbeelding 2023-02-08 om 13.56.16.png Size: 68 KB
  • #137,884
  • Feb 8, 2023 7:51am Feb 8, 2023 7:51am
Emanuel I don't mean the ending because I understand it
I only mean the places marked with a yellow arrow, how to interpret them? Are they just losers or is there some other way to see that I shouldn't enter?
Attached Image (click to enlarge)
Click to Enlarge Name: tdi.jpg Size: 130 KB
  • #137,885
  • Feb 8, 2023 7:54am Feb 8, 2023 7:54am
Quoting Finndis
Will probably take a short on EUR/JPY as soon as it shows some bearish candles on the almost reached resistance level, after the short i will buy back to catch the possible move up at the next support level, view screenshot for better context. What do you guys think? {image}
If I were you I would just wait for the buy as you already expect price to react there. A sell would be more probable with rejection and fail to break level or first LH.

When wanting to enter a TDI trade... take a moment first to observe basic 4x things... like:

How close am I to the previous high or lo

Am I in an uptrend or downtrend.. short & long term...

Am I in or close to a consolidation area

Are the previous candles small...

Look at the candles on the last reversal... big, little, what

Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 35 KB
  • #137,886
  • Feb 8, 2023 7:59am Feb 8, 2023 7:59am
Quoting tommydoginti
{quote} Very good day trading. {image} {image}
Last trade yesterday, GU sell catching the spike down 61pips.

Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 77 KB

A sell would be more probable with rejection and fail to break level or first LH.

Attached Image (click to enlarge)
Click to Enlarge Name: B6DB91C7-AC5A-4BB1-841E-491371D00ED3.png Size: 55 KB


Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 53 KB
  • #137,887
  • Feb 8, 2023 8:05am Feb 8, 2023 8:05am
Quoting mateusz2351
Emanuel I don't mean the ending because I understand it I only mean the places marked with a yellow arrow, how to interpret them? Are they just losers or is there some other way to see that I shouldn't enter? {image}
Hi Mateusz2351,

Just follow #647.

When wanting to enter a TDI trade... take a moment first to observe basic 4x things... like:

How close am I to the previous high or lo
Look at the candles on the last reversal... big, little, what

Your arrows left to right.

1. Price retested previous High, before your indicated entry, TDI has already crossed down before. Rejection was weak to trade a potential downswing

2. 3. Not close to previous high/low
  • #137,888
  • Feb 8, 2023 8:21am Feb 8, 2023 8:21am
Quoting tommydoginti
{quote} Hi Havenoidea, if you don’t like trading with TDI, then it is fine. BigE’s TMS is not the only way to trade. Just this thread is all about BigE’s TMS method. You may find another method in another thread that suits your style better. Good luck. TDI is “noisy” to those unable to find ways to pick the right ones. For instance, #647 mentions some basic price actions useful to trade with TDI cross signals Trend direction Previous High/Low Rejections at those levels {image} {image}
How previous highs and lows, and Rejections from these levels to plan TMS trades with

Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 38 KB
  • #137,889
  • Feb 8, 2023 10:54am Feb 8, 2023 10:54am

  1. TommyDoginti


there was resistance, therefore, after the red candle, it should be reversed

  • #137,890
  • Edited 5:45pm Feb 8, 2023 12:02pm | Edited 5:45pm
Quoting mateusz2351
I have a question because I found an old chart in the posts Where if you played in accordance with TDI you would lose money can someone take a look and tell me what to do in this case? {image}
MESSAGE TO NEW TRADERS THINKING OF TRADING THIS SYSTEM.

I will say this, trading made simple have being the core of my trading system, and I have traded this core religiously for 3 years solid and now am a funded trader.

If you intend to trade this strategy as the OP laid out on the first page you will LOSE MISERABLE and its gonna be PAINFUL. You will not be profitable no matter how much you follow the rules. What I did after realising this is to find myself a solid filter that will react when the daily timeframe start turning.

The core of this strategy is amazing. You just need an extra layer of filters once you can get the filter done only then will you see the strategy profitable. Goodluck folks
  • #137,891
  • Feb 8, 2023 12:25pm Feb 8, 2023 12:25pm
Quoting 7division
{quote} MESSAGE TO NEW TRADERS THINKING OF TRADING THIS SYSTEM. I will say this, trading made simple have being the core of my trading system, and I have traded this core religiously for 3 years solid and now am a funded trader. If you intend to trade this strategy as the OP laid out on the first page you will LOSE MISERABLE and its gonna be PAINFUL. You will not be profitable no matter how you much you follow the rules. What I did after realising this is to find myself a solid filter that will react when the daily timeframe start turning. The core...
The “filter” is also mentioned by BigE in his later posts after page 1.

For instance, Highs and Lows are good tools to pick the TDI signals to trade, telling you the “where” and what direction.

Just blindly following TDI crosses or use alerts that do not discriminate specific conditions is doomed to fail.
BigE’s Trading Made Simple is not just trading every TDI signals. The rules are in multiple posts

trade well
  • #137,892
  • Feb 8, 2023 2:08pm Feb 8, 2023 2:08pm
Quoting emmanuel7788
{quote} Good! Do what works for you and make money.
yes. thats true.
  • #137,893
  • Feb 8, 2023 4:06pm Feb 8, 2023 4:06pm
Quoting mateusz2351
Emanuel I don't mean the ending because I understand it I only mean the places marked with a yellow arrow, how to interpret them? Are they just losers or is there some other way to see that I shouldn't enter?
Attached Image (click to enlarge)
Click to Enlarge Name: mateusz23519-2-2023 6-06-39 am.png Size: 52 KB



{image}
@mateusz2351


that is too simple ... basic TMS 5-Method rules as laid out in just one Post#261 which is the core of Big E' 5-Method.

all three areas you marked with yellow arrow are not setup according to Post#261.

*** 5EMA is for the direction of the HA price action candles

> what is the direction the 5EMA, Typical Price, Shift+2 pointing to when the red HA candle closed? UP or DOWN

> do you know what the "reversal" in Post#261 means?

> do you agree with me the True REVERSAL setup must have a Stoch(8,3,3) %K cross %D as the signal?

> .../

Attached Image (click to enlarge)
Click to Enlarge Name: Big E #261.png Size: 53 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #137,894
  • Feb 8, 2023 4:20pm Feb 8, 2023 4:20pm
Quoting mateusz2351
Emanuel I don't mean the ending because I understand it I only mean the places marked with a yellow arrow, how to interpret them? Are they just losers or is there some other way to see that I shouldn't enter? {image}
https://www.forexfactory.com/thread/...2#post14319092



Follow #261 and pick the best setups.... examples.

I trade only when there is an established trend or swing ... these only after the True REVERSAL has been confirmed with Price Action and the Stoch must confirm the %K cross %D between 80 and 20 with a 50-mid level. This will eliminate all the useless TDI#25 green / red crosses nonsense.




Attached Image (click to enlarge)
Click to Enlarge Name: mateusz2351 #137,885 9-2-2023 6-10-18 am.png Size: 188 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #137,895
  • Feb 8, 2023 5:23pm Feb 8, 2023 5:23pm
Quoting mateusz2351
TommyDoginti there was resistance, therefore, after the red candle, it should be reversed

"there was resistance, therefore, after the red candle, it should be reversed"

a red candle does not mean there is resistance and market should reverse. it is a technical analysis fallacy of retail traders at large.

get rid of such thinking which become your beliefs of the market.

"You do not trade the markets, you trade your beliefs about the markets." — Dr Van Tharp

there are many reasons why market prices move and change from bullish to bearish and vice-versa and these happens in all time durations which we see as the timeframes on our charts,

trading is a skills-based activity and requires years of practice, practice, practice ... to build up your knowledge of the markets and experience in following many market cycles and these take much more than 5 years if you are a part-time recreational type of trader.

one of the many trading tasks of a trader

1) use our discretionary rules-based system and to pick the best setup for entry,
2) know the maximum risk of the entry, look for low risk trading ideas,
3) use risk management and Position Sizing - how much money to risk , when to get out when your are wrong worst case scenario, calculate the trade position size, and you will never lose more that your initial risk, ... Cut-Losses-Short
4) know the reward to risk potential of every trade and Let Profits Run
5) know when to get out when when the market tells you to according to your trade plan - when to get in, when to get out,


...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #137,896
  • Feb 8, 2023 6:24pm Feb 8, 2023 6:24pm
Quoting Finndis
Will probably take a short on EUR/JPY as soon as it shows some bearish candles on the almost reached resistance level, after the short i will buy back to catch the possible move up at the next support level, view screenshot for better context. What do you guys think? {image}
With the weekend gap filled quickly this week, there are many opportunities to swing trade this pair using the historical price swing levels.

Study your charts and learn the Market Types conditions you want to trade.

Weekly is dominant timeframe to determine the Market Type if Trending or Sideways ranging when swing trading.

If you are the short term type Day-trader, then you will have a different view of the market.

EJ Daily Big Picture Feb09

Attached Image (click to enlarge)
Click to Enlarge Name: EJ Feb09 Big Picture Daily 9-2-2023 8-15-10 am.png Size: 24 KB


To be able to generate a consistent cash flow to add to your personal income, you need to develop a system trading strategy.
TMS in this thread is not a system strategy.


...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #137,897
  • Feb 8, 2023 6:39pm Feb 8, 2023 6:39pm
Quoting eelfranz
Don't get fired ! Just make the necessary transition to trading 4hr charts during the London session... or Daily charts.

When you read all the posts from Post#1 to this Post#281,

you will understand why the OP made this important post above.

Most traders started trading M15 charts and posted a few random winning trades and got euphoric with a few winners initially.

The above Post#281 is a warning and is one of the keys to become consistent profitable trading over a longer period say 3 years and more.

Over the last 12 years, I have seen over and over again new traders posting here and claim success with less than 2 years experience then these new traders disappear and most move to another thread acting like trading gurus without any track record.

Be careful folks, we see these types in city centre pedestrian malls all the time.


Attached Image



...


Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #137,898
  • Feb 8, 2023 7:08pm Feb 8, 2023 7:08pm
Quoting 7division
{quote} MESSAGE TO NEW TRADERS THINKING OF TRADING THIS SYSTEM. I will say this, trading made simple have being the core of my trading system, and I have traded this core religiously for 3 years solid and now am a funded trader. If you intend to trade this strategy as the OP laid out on the first page you will LOSE MISERABLE and its gonna be PAINFUL. You will not be profitable no matter how much you follow the rules. What I did after realising this is to find myself a solid filter that will react when the daily timeframe start turning. The core...
An honest post by someone who had done the years of diligent hard work and never gave up.

Finally @7division has the experience of failures and success and he know the number of years it took him on his journey. For sure, I know it was not just 1 to 3 years of hard work but more than that.

Its a journey like Big E shared his 15 years trading journey.




Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #137,899
  • Feb 8, 2023 8:57pm Feb 8, 2023 8:57pm
Quoting mateusz2351
TommyDoginti there was resistance, therefore, after the red candle, it should be reversed
There is no holy grail “should” in trading.

Maybe this recent USDCAD can give you more idea on how #647 is executed.

Attached Image (click to enlarge)
Click to Enlarge Name: 707D56DA-F824-4807-ACA9-BA0270737BC0.jpeg Size: 406 KB

Attached Image (click to enlarge)
Click to Enlarge Name: AA9AE8BB-182C-43FC-A6D8-87CCAF81F7DB.jpeg Size: 655 KB
  • #137,900
  • Feb 8, 2023 10:22pm Feb 8, 2023 10:22pm
Is there really no Holy Grail trading system?

There is no Holy Grail in technical studies and indicators.

There is no Holy Grail in money management based systems.

What other rules-based system do you know?

What is then a Holy Grail in a trading system?

When you have developed your winning trading systems with winning edge that help you make money consistently , then there is your Holy Grail system.


- study this Money Management Report (Dr Van K Tharp)

click { download }

Also this article 'The Holy Grail of Trading ..... " by Thom Hartle' is a good read.
>> click {download }

When you have digested the above information then you will know there is a path to your Holy Grail trading systems.


....
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
45 traders viewing now