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Trading Made Simple

  • #141,181
  • Jul 16, 2023 3:27am Jul 16, 2023 3:27am
My usual weekend preparation for next week trading is the have my calendar ...

Should be another good week to make some money into my 10th trading day in the new 20TDC


Attached Image (click to enlarge)
Click to Enlarge Name: FF Cal Week 29 Jul 16 to 21 16-7-2023 6-23-25 pm.png Size: 33 KB



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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #141,182
  • Jul 16, 2023 4:42pm Jul 16, 2023 4:42pm
Quoting emmanuel7788
{quote} hey @Tekkies read #8703 above https://www.forexfactory.com/thread/...3#post14499153 > stop wasting time trading your M5 TDI cross signals. > trade the Daily without TDI and use 5-minute scalping entries on Daily chart candles price action original 5-Method > take trades with Risk:Reward 1:2 minimum ... statistical edge ...simple rule for entries and exits {image} {image} {image} > when you are ready to trade a USD10,000 Live account do let us all know here. ...
could you explain more details? And if you dont mind posting a charting explaining the entries and exits trading that way you said would really help... thank you very much.
  • #141,183
  • Jul 16, 2023 4:45pm Jul 16, 2023 4:45pm
Have you read the first several posts? There is a good explanation there.
  • #141,184
  • Jul 16, 2023 4:49pm Jul 16, 2023 4:49pm
Sorry folks for not replying the many PMs last week. It has been a busy week with too many things going on and also watching tennis master class.

Anyway, for those PMs from beginners to this thread, I have made this summary for you to get started with. Then you post and ask questions with charts.

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 rules-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
  • #141,185
  • Jul 16, 2023 4:55pm Jul 16, 2023 4:55pm
Quoting jandelichte
{quote} could you explain more details? And if you dont mind posting a charting explaining the entries and exits trading that way you said would really help... thank you very much.

@jandelichte

Pick one currency pair and I will explain with real-time live market charts.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #141,186
  • Jul 16, 2023 5:18pm Jul 16, 2023 5:18pm
starting a new week I look at the Weekly charts first and know what the Market Type is.

- when trading the 4hr like the OP ... pick only Market Type 1 and 2 i.e. the trending pairs and also the Sideways Wide Range pairs

- do not trade the Market Type 3 Sideways Narrow Range pairs..

USD pairs

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JPY pairs

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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #141,187
  • Jul 16, 2023 5:21pm Jul 16, 2023 5:21pm
Quoting emmanuel7788
starting a new week I look at the Weekly charts first and know what the Market Type is. - when trading the 4hr like the OP ... pick only Market Type 1 and 2 i.e. the trending pairs and also the Sideways Wide Range pairs - do not trade the Market Type 3 Sideways Narrow Range pairs.. USD pairs {image} JPY pairs {image} ...

when you trade these pairs ... then you must be good at picking tops and picking bottoms ... when the swings are 3 to 8 candle run ...

Attached Image (click to enlarge)
Click to Enlarge Name: Euro Gbp crosses 17-7-2023 8-19-27 am.png Size: 50 KB




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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #141,188
  • Jul 16, 2023 5:45pm Jul 16, 2023 5:45pm
Quoting emmanuel7788
{quote} when you trade these pairs ... then you must be good at picking tops and picking bottoms ... when the swings are 3 to 8 candle run ... {image} ...
for those struggling to make money it is back to #140,743

to re-learn the Basics of TMS 5-Method as in post #261

Attached Image (click to enlarge)
Click to Enlarge Name: EA Jul 17 TMS_V19 EA 17-7-2023 8-37-31 am.png Size: 55 KB



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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #141,189
  • Jul 16, 2023 5:53pm Jul 16, 2023 5:53pm
Quoting emmanuel7788
EA Jul 13 H4 - Weekly is sideways narrow range ... unlikely to run 3 to 8 candles - If you want 50pips out of this you have to pick top and bottom - the nr4IB is good to pick a possible breakout entry {image} -...

EA Jul 13 trades closed

- took each trade during each of the 4hr trade window

- 2 trades 2 winners

Attached Image (click to enlarge)
Click to Enlarge Name: EA Jul 13 TMS trades closed 17-7-2023 8-47-00 am.png Size: 36 KB


> like the OP said in #281, "Just make the necessary transition to trading 4hr charts during the London session... or Daily charts. "
and you will do good and make consistent profits.

> you need to do your own risk control in your Money Management strategy.


...





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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #141,190
  • Jul 16, 2023 5:59pm Jul 16, 2023 5:59pm
Quoting emmanuel7788
{quote} EA Jul 13 trades closed - took each trade during each of the 4hr trade window - 2 trades 2 winners {image} > like the OP said in #281, "Just make the necessary transition to trading 4hr charts during the London session... or Daily charts. " and you will do good and make consistent profits. > you need to do your own risk control in your Money Management strategy. ... ...

GA Jul 13 TMS trade closed

- same PA setup

- 2 hours before London market opens I see the breakout and it follows the 4hr

- quick +50pips

Attached Image (click to enlarge)
Click to Enlarge Name: GA Jul 13 H4 trade closed 17-7-2023 8-55-31 am.png Size: 34 KB

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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #141,191
  • Jul 16, 2023 10:08pm Jul 16, 2023 10:08pm
Quoting emmanuel7788
{quote} for those struggling to make money it is back to #140,743 to re-learn the Basics of TMS 5-Method as in post #261 {image} {image} ...

TMS Monitor Jul 17 4hr trade window

- the 3rd H1 candle was nice

Attached Image (click to enlarge)
Click to Enlarge Name: TMS Monitor Jul 17 4H w H1 17-7-2023 12-44-44 pm.png Size: 37 KB




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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #141,192
  • Jul 16, 2023 11:17pm Jul 16, 2023 11:17pm
AU Jul 17 Pacific 4hr trade window

- use TMS trading tools available to help you when you are trading

- M15 sell alert when FO during the 4hr trade window

> trade only when you have done your WTDA and have a trade plan for this week

Attached Image (click to enlarge)
Click to Enlarge Name: AU Jul 17 M15 TMS_V19 sell alert 17-7-2023 2-12-53 pm.png Size: 51 KB

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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #141,193
  • Jul 17, 2023 1:39am Jul 17, 2023 1:39am
GN Jul 17 H4 Pacific 10PM 4hr trade window

- example of a M15 setup in the established H4 swing

- you know the risk on Daily

Attached Image (click to enlarge)
Click to Enlarge Name: GN Jul 17 M15 setup 4hr 7-7-2023 4-33-35 pm.png Size: 53 KB

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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #141,194
  • Jul 17, 2023 3:52am Jul 17, 2023 3:52am
Quoting emmanuel7788
{quote} @jandelichte Pick one currency pair and I will explain with real-time live market charts.
Gbp/Usd
  • #141,195
  • Jul 17, 2023 4:48am Jul 17, 2023 4:48am
Quoting jandelichte
{quote} Gbp/Usd
GU July 17 Weekly

- bullish trend

- big candle ... WCC ..

Attached Image (click to enlarge)
Click to Enlarge Name: GU Jul17 Weekly 17-7-2023 7-17-46 pm.png Size: 34 KB

GU Daily

- sideways

Attached Image (click to enlarge)
Click to Enlarge Name: GU Jul17 Daily 17-7-2023 7-18-13 pm.png Size: 31 KB

GU H4

- narrow range correction

Attached Image (click to enlarge)
Click to Enlarge Name: GU Jul 17 H4 17-7-2023 7-18-33 pm.png Size: 29 KB


> at the moment nothing to trade
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #141,196
  • Jul 17, 2023 5:37am Jul 17, 2023 5:37am
AU Jul 17 New York open hour 4hr trade window

- M15 sell alert

Attached Image (click to enlarge)
Click to Enlarge Name: AU Jul 17 M15 sell NYO 17-7-2023 8-33-38 pm.png Size: 62 KB



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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #141,197
  • Jul 17, 2023 6:40am Jul 17, 2023 6:40am
Quoting emmanuel7788
{quote} GU July 17 Weekly - bullish trend - big candle ... WCC .. {image} GU Daily - sideways {image} GU H4 - narrow range correction {image} > at the moment nothing to trade
GU Jul 17 H1 New York session

- H1 PA setup ...continuation ... breaking Asian low

- Stoch confirmed between 80 and 20 level

- TDI RSI green line bounce 9.0 slope 6.2

Attached Image (click to enlarge)
Click to Enlarge Name: GU Jul 17 h1 NYO1 bounce 9.0 17-7-2023 9-36-16 pm.png Size: 38 KB



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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #141,198
  • Jul 17, 2023 5:13pm Jul 17, 2023 5:13pm
Quoting emmanuel7788
{quote} GU Jul 17 H1 New York session - H1 PA setup ...continuation ... breaking Asian low - Stoch confirmed between 80 and 20 level - TDI RSI green line bounce 9.0 slope 6.2 {image}

Attached Image (click to enlarge)
Click to Enlarge Name: GU Jul 17 h1 NYO1 bounce 9.0 17-7-2023 9-36-16 pm.png Size: 38 KB



...

GU Jul 18 update:

- hours later ...

- what lessons learn from this? ... take own notes

Attached Image (click to enlarge)
Click to Enlarge Name: GU Jul 18 hours later 18-7-2023 8-08-33 am.png Size: 39 KB


https://www.forexfactory.com/thread/...2#post14500842


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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #141,199
  • Jul 17, 2023 6:39pm Jul 17, 2023 6:39pm
EU Jul 18 H1 signal during the current H4 ...

- not my trading hours

Attached Image (click to enlarge)
Click to Enlarge Name: EU Jul 18 h1 in H4 signal 18-7-2023 9-34-43 am.png Size: 48 KB

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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #141,200
  • Jul 17, 2023 6:54pm Jul 17, 2023 6:54pm
Quoting eelfranz
Don't contact Dean Malone about the TDI. The way he uses it for his method is 180 degrees from how we use it... you need to learn how to use it our way... The TDI is the heart of our method. It tells you when to enter and where to exit any trades... so review previous posts and learn it good. HA Candles are important because it makes your trading way less stressful... use them. Stoch's is nothing but confirmation. If Stoch's & the TDI give different signals... lights flash off and on warning me to take a closer look before entering.. and usually...
The TDI is the heart of our method. It tells you when to enter and where to exit any trades... so review previous posts and learn it good.
HA Candles are important because it makes your trading way less stressful... use them.
Stoch's is nothing but confirmation. If Stoch's & the TDI give different signals... lights flash off and on warning me to take a closer look before entering.. and usually I look for another trade.
5 ema... shows direction currently... only wanting to enter on candle 1 or two. If there is a reversal do I have a TDI signal to enter... if not and all looks strong then enter on candle 2... use some discretion... practice on Demo... take some chances and see if yor head computer was right... it's free.
HA Candles... What are their size? If they are small I will usually go find another set up... Look for consolidation... look for how close PA is to supp/res levels... use your brain !
Believe it or not you have to participate and think... until it's so second nature... there is nothing to it... it's so simple... don't complicate it or you will lose...

#261 TMS 5-Method Basics

> ALERTS <

TMS_V19 EA settings* "True" for the minimum as post #261 above,

* If you set too many conditions and when not all conditions are met you wont get any alert signals.

Attached Image (click to enlarge)
Click to Enlarge Name: TMS_V19 Alerts post#261.png Size: 25 KB


> final decision to take a trade or not is based on your own discretionary decision according to your trade plan.



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