Trading Made Simple | Page 7440 | 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

  • #148,781
  • Edited 2:19pm Oct 20, 2024 1:56pm | Edited 2:19pm
Quoting emmanuel7788
{quote} Do Not use TDI for trading US Markets. Big E and I did not use any indicators when we were trading the US markets in the 1990s. We have a collection of strategies in the system trading we traded for more than 30 years. This is one for Dow, S&P500 and Nasdaq. {image} ...
ok
I then im trading TMS with not TDI, not stoch, no ha

lol
Well this is what i see for sunday open 6pm est for usa indices
sell stopl below friday low
syoploss above last small bar
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 8.png Size: 20 KB
Click to Enlarge Name: 14.png Size: 17 KB
Click to Enlarge Name: 13.png Size: 18 KB
Click to Enlarge Name: 12.png Size: 17 KB
""TP is whatever you can get before it goes against you.""
  • #148,782
  • Oct 20, 2024 2:18pm Oct 20, 2024 2:18pm
Quoting 1dominican
{quote}ok I then im trading TMS with not TDI, not stoch, no ha lol Well this is what i see for sunday opem 6pm est for usa indices sell stopl below friday low syoploss above last small bar {image}

I see an Inside Day candle Friday Oct 18 Close.

The last 5-Days High is Thursday Oct 17.

The last 5-days Low is very far away.

Important PA to take note.

Selling would be a Money Management decision.


...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #148,783
  • Oct 20, 2024 2:24pm Oct 20, 2024 2:24pm
ETHUSD
DAILY CHART
Sell stop
if filled i will place my stoploss
Attached Image (click to enlarge)
Click to Enlarge Name: 15.png Size: 28 KB
""TP is whatever you can get before it goes against you.""
  • #148,784
  • Oct 20, 2024 2:58pm Oct 20, 2024 2:58pm
Quoting emmanuel7788
{quote} I see an Inside Day candle Friday Oct 18 Close. The last 5-Days High is Thursday Oct 17. The last 5-days Low is very far away. Important PA to take note. Selling would be a Money Management decision. ...
If ihave an inside bar i do not use Darvas box,inside bar ia a box on its own,price exceeding the high or low of the past inside bar is my entry.
ETHEUSD and all indices im expectiong a reversal
""TP is whatever you can get before it goes against you.""
  • #148,785
  • Oct 20, 2024 3:04pm Oct 20, 2024 3:04pm
Quoting emmanuel7788
{quote} The Week 41 had close below the previous week candle low. This makes Week 41 the new Weekly Control Candle WCC ... with its high 1.3135 and low 1.3022. Week 42, last week did not close below the WCC Low. It is also a small body candle with long upper and lower wicks. In the 5-Method Price Action analysis, we are in a narrow range sideways market type. Week 39 is the confirmed Swing High, with two lower high candles on both sides. There is a Fractal above Week 39. Technically, I form a bearish bias for next week. TMS 5-Method APB/HA candles...
Thank you for that clear explanation.
  • #148,786
  • Oct 20, 2024 3:17pm Oct 20, 2024 3:17pm
Quoting emmanuel7788
{quote} congratulations. thank you for the simple answer. we can make sensible discussion now. {quote} regarding your winning trade, I have another simple question. I see the entry market, the stop loss being moved above entry price, and the exit TP. What is the risk reward for that buy trade? {image} ...
The original stop loss was just below the previous white candle at 16.3 pips so just over 1:3.5RR.
  • #148,787
  • Oct 20, 2024 3:20pm Oct 20, 2024 3:20pm
Quoting emmanuel7788
{quote} The Week 41 had close below the previous week candle low. This makes Week 41 the new Weekly Control Candle WCC ... with its high 1.3135 and low 1.3022. Week 42, last week did not close below the WCC Low. It is also a small body candle with long upper and lower wicks. In the 5-Method Price Action analysis, we are in a narrow range sideways market type. Week 39 is the confirmed Swing High, with two lower high candles on both sides. There is a Fractal above Week 39. Technically, I form a bearish bias for next week. TMS 5-Method APB/HA candles...
Daily chart show that a reversal low is printed, price could go up 1 or more days
See the low swing point and see tdi green, if price closes back above 5 ema or above past inside bar, that confirm low is in place.
Attached Image (click to enlarge)
Click to Enlarge Name: 20.png Size: 35 KB
""TP is whatever you can get before it goes against you.""
  • #148,788
  • Oct 20, 2024 7:53pm Oct 20, 2024 7:53pm
Quoting lynnc
{quote} The original stop loss was just below the previous white candle at 16.3 pips so just over 1:3.5RR.

@lyncc

thanks.

R:R 1:3.5 is good

More question,

What are the two moving averages on your chart ?

How do you use them ?

Attached Image (click to enlarge)
Click to Enlarge Name: lyncc GU buy trade Oct what are the MAs.png Size: 40 KB



...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #148,789
  • Oct 20, 2024 8:17pm Oct 20, 2024 8:17pm
Quoting 1dominican
{quote} Daily chart show that a reversal low is printed, price could go up 1 or more days See the low swing point and see tdi green, if price closes back above 5 ema or above past inside bar, that confirm low is in place. {image}

Oct 21 Tokyo 10am

GBPUSD Oct 21

- the Daily swing low is not confirm , today is candle 5

- we need to see today' Close

- for a new wave, the PA must move higher and break the 1st candle of the 5bars/candles swing low Fractal,

- this may take several candles

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD Oct21 D1 H4 H1 TOKY 10am 21-10-2024 9-07-15 am.png Size: 49 KB



H4 is to follow Big E' post #1 Pacfic 10PM and 2AM candles


H1 is interesting for sellers

- but if you want to trade-once-per-day

- which is your strategy


Overall top down Daily > H4 > H1 is mixed

...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #148,790
  • Oct 20, 2024 8:46pm Oct 20, 2024 8:46pm
EURGBP Oct 21 TMS_V19 technicals

- with the Daily Inside Candle,

- and the MOMENTUM of the RSI green line doing the 'BB Walk' along its Lower VB,

- I would look at the PA and price convergence and divergence for the best timing for entries

- we have two possibilities for those who trade-once-a-day

- what would be your Money Management strategy and Risk to Reward for your trades



...
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD Oct21 Daily V19 21-10-2024 9-40-33 am.png Size: 46 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #148,791
  • Oct 20, 2024 9:53pm Oct 20, 2024 9:53pm
Quoting emmanuel7788
{quote} Oct 21 Tokyo 10am GBPUSD Oct 21 - the Daily swing low is not confirm , today is candle 5 - we need to see today' Close - for a new wave, the PA must move higher and break the 1st candle of the 5bars/candles swing low Fractal, - this may take several candles {image} H4 is to follow Big E' post #1 Pacfic 10PM and 2AM candles H1 is interesting for sellers - but if you want to trade-once-per-day - which is your strategy Overall top down Daily > H4 > H1 is mixed ...
I see there is set ups on Daily and H1 chart. But what about the H4 chart? I see the green just touches the red, maybe needs to wait for another candles to confirm?
  • #148,792
  • Oct 20, 2024 10:01pm Oct 20, 2024 10:01pm
Quoting havenoidea
look like trading is becoming a hobby to some of yall. good luck to all hard working traders here.
It is even better for a hobby to make you extra money.

Here is Asia, most of the people do stock, Fx, crypto, ETF and REITs. The culture is treating it like a hobby. After all, we let money works for us. Tho, hobby or not, trading takes effort.

Trade well. Today is payout day

Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 11 KB
  • #148,793
  • Oct 20, 2024 10:07pm Oct 20, 2024 10:07pm
Quoting tony228
{quote} I see there is set ups on Daily and H1 chart. But what about the H4 chart? I see the green just touches the red, maybe needs to wait for another candles to confirm?

First, lets hear from those who claim to be successful traders here.

I'll read the OP posts and learn from his rules-based discretionary trading style.

I have the "patience of Job and Moses" .


...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #148,794
  • Oct 20, 2024 10:08pm Oct 20, 2024 10:08pm
Quoting tony228
{quote} Like Emmanuel and tommy the friend said, should always wait for the bar to close. Yesterday's last trade of short is an boom with loss of 10 USD. Today when I review this trade I could see its actually an total disaster. Followed the #647 but forgot one thing, which is to wait for the bar close and further confirmation signals. I get in when market gives an star, I think that it will be an down trend like previous 2 LH(it both gives stars then downtrend). But it results the structure changes and went bull from here. Maybe the expectation...
Hi Tony228,

It depends on the setup, TMS entries do not limit to wait for candle close. Haven said that, my suggestion to newer TMS traders is to trade after candle close and all TMS elements are confirmed. Majority of my trades are entered after the candle close.

Waiting for candle close also have another advantage, which is you can safe your time to check chart by either a) a fixed time and routine, or b) an actionable alert setting.

Trade well.
  • #148,795
  • Oct 20, 2024 10:17pm Oct 20, 2024 10:17pm
Quoting tommydoginti
{quote} Good day traders. I got questions regarding my trading hours. I trade when I have time and not limited to any market sessions or sort. I work and have activities during the day. When I am travelling I trade less but still do it when have time. The broker server time is 8 hours behind my time zone. So the chart starts from my 7/8am (daylight saving clock change) BigE mentioned there is no rules in TMS limiting the timeframe and time of the day to trade. Have a nice weekend. {image}
Attached Image (click to enlarge)
Click to Enlarge Name: 98C2C54C-4466-4642-B8EF-9A1AA5416AD4.jpeg Size: 195 KB



Follow up questions of trading time.

BigE had his own trading preference in when to trade and the timeframe to trade.

But TMS method works on all time frames and time of the day when used well.

Post #1
I wanted a method that was simple, worked on all timeframes, simple rules, few indicators....

post #644 (BigE’s answer on which timeframe to trade TMS)
... Works on all time frames.

#1170
Not trading during the N.Y. Session is not a rule... just my personal preferance... When I do trade during that time I drop down to the 1hr charts...
  • #148,796
  • Oct 20, 2024 10:29pm Oct 20, 2024 10:29pm
Quoting tommydoginti
{quote} {image} Follow up questions of trading time. BigE had his own trading preference in when to trade and the timeframe to trade. But TMS method works on all time frames and time of the day when used well. Post #1 I wanted a method that was simple, worked on all timeframes, simple rules, few indicators.... post #644 (BigE’s answer on which timeframe to trade TMS) ... Works on all time frames. #1170 Not trading during the N.Y. Session is not a rule... just my personal preferance... When I do trade during that time I drop down to the 1hr charts...

@tommydog...

more disinformation and misinformation about this thread started by @eelfranz.

You are selectively quoting parts of the OP' posts to mislead readers and new traders here.

Read post #281 and take notes,
Quoting eelfranz
Don't get fired ! Just make the necessary transition to trading 4hr charts during the London session... or Daily charts.
Read #119 and take notes,
Quoting eelfranz
Klops... I generally quit trading at 6am Pacific (9am est). Why? The market might cook some for the next hour or two but unless there is a hot news announcement during the day... the market pretty much peters out and ranges... I don't want to be trading in that junk. Thats where dealers make most of your money is ranging markets and 5-15 min time frame trading... you got to quit trading those trash time frames. Granted there are 2 out of 100 who can Kick bootie there but chances are your[/highlight]...
Your TE example, ... Hope and Pray for 14 hours when your account in Drawdown
Attached Image (click to enlarge)
Click to Enlarge Name: tommydog GU sell hope and pray 14 hours 16-8-2023 2-02-42 pm.png Size: 125 KB


Read #2617 and take notes, ... for higher success.


Quoting eelfranz
Alright all you party animals trying to recover from last night... or longer... Last couple of pages has covered many different topics... well, touched base anyway.... 2scoops... on post 2594... 2scoops asked me a long time ago what would be the most beneficial to learning this method for higher success... The answer was simple... study old charts for set ups... now strip down everything on that chart at that point... trends, angles, S/R levels, News times, Stoch angle within the[/highlight]...

>>> took him 2 years and on top of his 15+years trading experience
>>> what is the secret to higher success?

...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #148,797
  • Oct 20, 2024 10:34pm Oct 20, 2024 10:34pm
Quoting tommydoginti
{quote} {image} Follow up questions of trading time. BigE had his own trading preference in when to trade and the timeframe to trade. But TMS method works on all time frames and time of the day when used well. Post #1 I wanted a method that was simple, worked on all timeframes, simple rules, few indicators.... post #644 (BigE’s answer on which timeframe to trade TMS) ... Works on all time frames. #1170 Not trading during the N.Y. Session is not a rule... just my personal preferance... When I do trade during that time I drop down to the 1hr charts...

hey @tommydog...

Your Hourly trade statistics show 220 trades closed.

Please show the same 220 distribution on the Monthly base for 2023 and 2024, and the Daily statistics.

Thank you.

...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #148,798
  • Oct 20, 2024 10:50pm Oct 20, 2024 10:50pm
Quoting emmanuel7788
{quote} @lyncc thanks. R:R 1:3.5 is good More question, What are the two moving averages on your chart ? How do you use them ? {image} ...
Hi Emmanuel and tommy the friend, the R:R and money management is one of my big problems and I don't know how to solve it, also I think this is the problem that my account doesn't growth.

The problem of using Big E's previous H/L stop loss method in my opinion is using an static R:R and will go to an whether you are win or you are lose situations. The consequence is an unfair R:R ratio. For example in the USD/JPY 1H chart I post below, when there is an long s/u signal, the difference value between entry point and Previous L become the risk and the reward ratio is calculate based on that risk. and the result of using that risk as an R:R have big problems in my opinion.

1. In No.1 bounce entry, the candle is small, the previous L are close, therefore its fine. This might be able to get an R:R of 1:2. risk is the difference of entry point to Previous L and reward will be double of risk difference.

2. In No.2 entry, when setting the SL, there might be problems where the previous two green candles are forming an resistance, therefore PA might go up a bit then bounce back around the resistance place, then if setting up an SL of 1:2 or 1:1 using previous L, the situation is there is an chance where the price go up a bit with an positive gain, but then bounce back at resistance and didn't reach the 1:1 then turning down(for example like the price go to an R:R of 1:0.5 but didn't achieve 1:1), so it becomes an loss.

3. In No.3 entry, the chart shows an bad entry and the candles are small, tdi are flat. But if in case this candle is strong momentum and is an middle or large candle, risk will varies depending on the size of the candle. The bigger the entry candle, the using of previous L will have higher risk and it also forming an higher reward of R:R. But price go with the swing levels and might not able to achieve the reward.

This is the problem I faced, lots of time I used the SL and TP but never achieved an 1:1 or 1:2, most of the time is 1:0.5, 1:0.2.

Where did i get wrong?

Wish everyone and 1000pips/day
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 19 KB
  • #148,799
  • Oct 20, 2024 10:58pm Oct 20, 2024 10:58pm
Quoting emmanuel7788
{quote} hey @tommydog... Your Hourly trade statistics show 220 trades closed. Please show the same 220 distribution on the Monthly base for 2023 and 2024, and the Daily statistics. Thank you. ...
Certainly.

Attached Image (click to enlarge)
Click to Enlarge Name: B618A683-E5E6-4DF8-8773-1D44EA7DD783.jpeg Size: 198 KB
  • #148,800
  • Oct 20, 2024 10:59pm Oct 20, 2024 10:59pm
Having another example, entering an bounce trade of A/U. Setting an SL as previous L, but because there is resistance, it goes up a bit then bounce back. currently still holding the position, shows an loss 2 usd. I think it would be almost impossible to reach the TP.
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 30 KB
45 traders viewing now