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Trading Made Simple

  • #147,781
  • Aug 20, 2024 7:38pm Aug 20, 2024 7:38pm
Quoting emmanuel7788
{quote} Trading Made Simple ... it has been easy for those trading the Daily charts, Question is when will this Market Type conditions change for these 8 pairs. New York 7pm {image} ...

UJ Aug21 1Hr intraday Tokyo session 9am

- sell when this current 1Hr candle closes,

- BEEB Bearish Engulfing Bar
- BEEOB Bearish Engulfing Outside Bar
- ? others ?

Attached Image (click to enlarge)
Click to Enlarge Name: UJ Aug21 H1 sell PA 21-8-2024 8-33-56 am.png Size: 29 KB



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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #147,782
  • Aug 20, 2024 8:11pm Aug 20, 2024 8:11pm
Quoting emmanuel7788
{quote} UJ Aug21 1Hr intraday Tokyo session 9am - sell when this current 1Hr candle closes, - BEEB Bearish Engulfing Bar - BEEOB Bearish Engulfing Outside Bar - ? others ? {image}

Attached Image (click to enlarge)
Click to Enlarge Name: UJ Aug21 H1 sell PA 21-8-2024 8-33-56 am.png Size: 29 KB



...

UJ Aug21 1Hr Tokyo 10am

- the last 25 minutes changed everything...

- the last 1Hr candle closed BULLISH

- BUEOB

- no trade!

Attached Image (click to enlarge)
Click to Enlarge Name: UJ Aug21 H1 BUEOB closed 21-8-2024 9-08-01 am.png Size: 29 KB



...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #147,783
  • Aug 20, 2024 8:37pm Aug 20, 2024 8:37pm
Quoting emmanuel7788
{quote} @shertiger YES. You missed quite a few things about TMS 5-Method and .... top on my head are these which most new traders make the same mistakes, 1) there is no 4Hr setup at that time when you took those 1Hr trades. 2) when day-trading you did not observe the market hours and the day' events and news. 3) you do not have a Big Picture view of those two pairs. XAU {image} UJ {image} ...
Hi Emmanuel7788

Thank you for the constructive feedback. I really appreciate it! Can I check my understanding of each of your points.
1) I'm actually trading XAUAUD not XAUUSD. Sorry I should have made that more explicit in my post. I was aware that we had potentially bottomed out and that there was room to go up. So I was comfortable with going with the buy signal. The 4 hour was also buy and long term trend is up. A slightly greater SL and I would have got that big climb up during Europe open. :-(
Is that accurate for XAUAUD?

USDJPY the 4H chart was also sell but we were into our 7th red candle by then. The hourly though showed several bull bars which were engulfed by 03:00 hourly red candle. So I was thinking pullback over and go with sell signal inline with medium term downtrend (last few weeks).
Should I have done something different? Bigger SL? Waited for 4H bull pullback?

2) I was trading XAUAUD and USDJPY during Asian hours but can see that big orders started coming in as Europe opened.
Should I be trading different time for these?

3) Hopefully clarified in above comments. BTW do you use a template that you can share for your TMS 5 method?

Quote
Follow simple rules when day trading today:
- No.1 important is the Price Action at Support / Resistance
- No.2 is the Stoch(8,3,3) for the signal %K cross %D, best between 20 and 80 levels.
- No.3 is the TDI as helping indicator , the RSI green price line to confirm price MOMENTUM.

No1 yes totally agree. I'm aiming to only place trades with the trend.
No2 I'm using the Stoch with slope indicator linked to this thread. Is that the correct one? For this version that would be dotted line crosses above then sell and if solid line crosses above then buy.
No3 Can I clarify. Should Stoch be main confirmation then? My understanding from the TDI checklist pdf was that TDI would be primary confirmation.

Thank you again!
  • #147,784
  • Aug 21, 2024 12:04am Aug 21, 2024 12:04am
Got two decent trades today. Australian and Japanese indices both buys.

I exited Australian indices buy when I looked at the minute chart and saw momentum declining through reduced candle size. Was also conscious of Asian close soon.

Should I look at tdi and stoch on these smaller timeframes to exit or just stick to hourly?
  • #147,785
  • Aug 21, 2024 8:55pm Aug 21, 2024 8:55pm
Quoting emmanuel7788
{quote} ...
Attached Image (click to enlarge)
Click to Enlarge Name: SIA laning Changi 22-8-2024 9-45-45 am.png Size: 134 KB


Attached Image (click to enlarge)
Click to Enlarge Name: SIA window view landing.png Size: 169 KB


sunny and humid days ahead

lots of clouds help keep the ground tempartaure to 34ºC

...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #147,786
  • Aug 21, 2024 8:58pm Aug 21, 2024 8:58pm
Thursday Aug 22, 2024

PMI data

Attached Image (click to enlarge)
Click to Enlarge Name: FF Cal AUg22 PMI 22-8-2024 9-39-35 am.png Size: 22 KB



USD Majors Daily

- its "end of the road"

Attached Image (click to enlarge)
Click to Enlarge Name: USD Majors Aug22 Daily TOK1035am 22-8-2024 9-35-40 am.png Size: 54 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #147,787
  • Aug 21, 2024 10:34pm Aug 21, 2024 10:34pm
Is it possble we clone these indicators on tradingview?
  • #147,788
  • Aug 22, 2024 12:55am Aug 22, 2024 12:55am
Hi everybody hope everything in fine i use to have two indicators but due to some issue in my laptop i have lost them...i only have pictures of both they are free and available online but i cant remember their name can any boby tell me which indicator are these name of indicators.
1st indicator which changes its color from green to pink and other is 2 dotted line
Attached Image (click to enlarge)
Click to Enlarge Name: cb04db8f-e259-42f9-bc25-81d0a7191114.jpg Size: 186 KB

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  • #147,789
  • Aug 22, 2024 1:40am Aug 22, 2024 1:40am
Quoting bigjjnem
Is it possble we clone these indicators on tradingview?
All the common indicators available in TradingView platform can be used for Trading Made Simple 5-Method.
1) Heiken Ashi candles
2) 5-period Exponential Moving Average, Typical Price, Shift+2
3) Stochastics (8,3,3)
4) RSI (14) default setting to replace the TDI

OR
in-lieu of the TDI, you can use the MACD(2,13,7) setting. This would work well for those trading with mobile MT4 too.

Attached Image (click to enlarge)
Click to Enlarge Name: EU AUg22 MACD as TDI 22-8-2024 2-38-17 pm.png Size: 41 KB


...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #147,790
  • Aug 22, 2024 2:18pm Aug 22, 2024 2:18pm
Quoting emmanuel7788
Compare TDI XAU Jul30 M15 {image} XAU Jul30 H4 {image} > which TDI version is your holy grail?
Here is to reply PM n which TDI version I use.

XAU Aug22 M15

- the same version the OP posted and used as his helping indicator ... post #202..

- it shows the price MOMENTUM better with its slope in actual realtime LIVE market conditions without repainting.



Attached Image (click to enlarge)
Click to Enlarge Name: XAU AUg23 comparing TDI 23-8-2024 3-11-47 am.png Size: 37 KB




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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #147,791
  • Aug 22, 2024 2:31pm Aug 22, 2024 2:31pm
Quoting emmanuel7788
Thursday Aug 22, 2024 PMI data {image} USD Majors Daily - its "end of the road" {image}

EU Aug22 Intraday PMI data

- ADR target today

Attached Image (click to enlarge)
Click to Enlarge Name: EU Aug22 hit ADR 23-8-2024 3-28-33 am.png Size: 27 KB



...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #147,792
  • Aug 22, 2024 2:34pm Aug 22, 2024 2:34pm
Quoting emmanuel7788
Thursday Aug 22, 2024 PMI data {image} USD Majors Daily - its "end of the road" {image}

AU Aug22 Intraday ADR target

- chart pattern double top at RN6750 and reversal

Attached Image (click to enlarge)
Click to Enlarge Name: AU Aug22 hit ADR RN6750 23-8-2024 3-29-06 am.png Size: 28 KB



...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #147,793
  • Aug 22, 2024 7:16pm Aug 22, 2024 7:16pm
Quoting emmanuel7788
{quote} All the common indicators available in TradingView platform can be used for Trading Made Simple 5-Method. 1) Heiken Ashi candles 2) 5-period Exponential Moving Average, Typical Price, Shift+2 3) Stochastics (8,3,3) 4) RSI (14) default setting to replace the TDI OR in-lieu of the TDI, you can use the MACD(2,13,7) setting. This would work well for those trading with mobile MT4 too. {image} ...
Thanks Em,

Also, I'm trying to find OP's risk management ( lot size, stoploss,etc..) and the stochastics rule. If you have this info, please share. Would save me a lot of time!!
  • #147,794
  • Aug 22, 2024 8:06pm Aug 22, 2024 8:06pm
Quoting bigjjnem
{quote} Thanks Em, Also, I'm trying to find OP's risk management ( lot size, stoploss,etc..) and the stochastics rule. If you have this info, please share. Would save me a lot of time!!

The OP Big E was a 'gambler' ... and he did not recommend to anyone here.

post #557:
"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..."his USD10,000 is money he would take to Las Vegas "

"The only reason I deposited that amount is because I trade full lots and some trades have 2-4 lots on a trade... or I'll add additional lots as the trade is in progress.. no big deal..."

when he was 'gambling' with 2 to 4 lots per trade, he would exit his trade ... post #7555

<quote>
I started trading full lots last year... tiring of $1 a pip. Takes the same amount of work... why not get paid for it? Often shooting for $500-$1,000 PER EVENING.

iT'S NOT UNCOMMON TO FIND 3-6 TRADE SET UPS PER EVENING.

Sometimes I would set the TP to 20 pips. 3-6 pairs hitting 20 pips... a few losers maybe... made for a handsome profit.

If I put all of my eggs in one basket... it was hit or miss....

I trade both ways with success...
<unquote>
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #147,795
  • Aug 22, 2024 8:15pm Aug 22, 2024 8:15pm
Quoting bigjjnem
{quote} /// and the stochastics rule. If you have this info, please share. Would save me a lot of time!!
You will find how he used the Stochastics in his old thread <here >

and also in the thread "Secrets of Stochastics".... post #296

He claimed to have made money everyday using the Stochastics, so why then did he add the TDI to his trading?
> answer in his post #202

Remember his post #3805,
"This thread is not meant for newbies. Our thread is not about learning the basics of forex trading but it's about teaching a method to traders who are no longer beginners... but intermediate+ I guess.

Any newbies here... please go to www.babypips.com and take some time to learn about the forex market and how it's traded. It's important."


...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #147,796
  • Aug 22, 2024 8:26pm Aug 22, 2024 8:26pm
Its Friday Aug 23

- when this 1Hr candle closes, I will decide

AJ Aug 23 H1 Tokyo 1025am

Attached Image (click to enlarge)
Click to Enlarge Name: AJ Aug23 h1 TOK 1025am.png Size: 29 KB


...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #147,797
  • Aug 22, 2024 8:57pm Aug 22, 2024 8:57pm
Quoting emmanuel7788
{quote} All the common indicators available in TradingView platform can be used for Trading Made Simple 5-Method. 1) Heiken Ashi candles 2) 5-period Exponential Moving Average, Typical Price, Shift+2 3) Stochastics (8,3,3) 4) RSI (14) default setting to replace the TDI OR in-lieu of the TDI, you can use the MACD(2,13,7) setting. This would work well for those trading with mobile MT4 too. {image} ...
Hi Emm, thanks for this response. I have a question because I'm not sure if I'm choosing the right indicators in TradingView
Could you possibly tell me the exact names of each of these indicators, so I can find the correct ones in TradingView? Am I looking for RSI or TDI?

Thank you
  • #147,798
  • Aug 22, 2024 9:03pm Aug 22, 2024 9:03pm
Quoting bigjjnem
{quote} //and the stochastics rule. If you have this info, please share. Would save me a lot of time!!

How to use the Stochastics Slope?

- it was a belief that the Stoch provides the Traders Edge

AJ Aug23 H1 Tokyo 11am

Attached Image (click to enlarge)
Click to Enlarge Name: AJ AUg23 H1 Stoch slope 23-8-2024 10-01-01 am.png Size: 37 KB


...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #147,799
  • Aug 22, 2024 9:38pm Aug 22, 2024 9:38pm
Quoting emmanuel7788
Its Friday Aug 23 - when this 1Hr candle closes, I will decide AJ Aug 23 H1 Tokyo 1025am {image} ...
Also, I'm curious about your decision. I might go for a long position to the resistance. Looks to be consolidating.
  • #147,800
  • Aug 22, 2024 11:15pm Aug 22, 2024 11:15pm
Hello Emmanuel,
Firstly, thank you for your unwavering contribution and support in the thread.

Recently i revived my interest in Blessing 3.9.6.09 EA and started using it together with HA and 5 EMA, Typical Price, Shift+2.
I hope you do not mind me mentioning about Blessing 3 EA in this thread.

I followed your instructions on setting up the Blessing 3 such as adjust the order distance using ADR(100) days, min 5 trades in a basket, using previous 2 weeks high/low as SL, setting FMC=0/1 based on Weekly chart to determine the market type conditions (Trending, Sideways Narrow Range or Sideways Wide Range).

AUDUSD Aug 19

Weekly
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 35 KB

Daily
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 38 KB

H4

Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 35 KB


On the Weekly chart, the previous week candle closed above the 5EMA in blue HA and the target price is the first purple line.
On the Daily chart, Aug 16 candle closed above the high of the red candle in blue HA.
So I have set FMC=0 and run the EA on H4 chart.

Was my observation and decision on trading this pair correct?
Please feel to comment as I would like to improve on my Weekly Top Down Analysis.

Additionally, I would like to know, besides WCC, how to use Weekly(52) and ATR(104) to determine the currency pair is in a Narrow and Wide range?

By the way, you can call me WJ.

Thank you.
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