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Trading Made Simple(r)

  • #10,361
  • May 7, 2025 12:09am May 7, 2025 12:09am
May 07,

Follow the Weekly and Daily,

GBPNZD May 07 London 8am

but beware of low timeframe reaction at @2.2178

Attached Image (click to enlarge)
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...


...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #10,362
  • May 7, 2025 12:13am May 7, 2025 12:13am
Quoting emmanuel7788
{quote} @SamIam As an newbie to trading, higher priority is to finish reading the OP' posts. Read, study, take notes, and learn EVERYTHING he has posted. Then make your vote , {image} When I review your two trades, it appears that you have missed something very important. ...
Thanks Emmanuel for the review. Could you maybe give a hint to what I have missed?
Yip still reading and will get through all the posts soon enough. Have read the books suggested by OP and a few others as well. Lots and lots of reading
  • #10,363
  • May 7, 2025 11:14am May 7, 2025 11:14am
Quoting SamIam.
{quote} Thanks Emmanuel for the review. Could you maybe give a hint to what I have missed? Yip still reading and will get through all the posts soon enough. Have read the books suggested by OP and a few others as well. Lots and lots of reading

Hi SamIam.

I will just comment on how to pick pairs to trade, and
the basics of TMS 5-Method by @eelfranz in the two pdfs "Best of Big E " which @RobinHood attached in post#1.

NZDCAD H4 trade,
you pick the direction which is good and is aligned with the Daily and Weekly, the Price Action+APB+HA candles are above the 5EMA,Typical Price, Shift+2.
however, there is a risk seen on the Weekly when price is not making higher high with higher close, hence the Weekly is sideways, t

EURAUD H1 trade
if you had check the H4, Daily and Weekly, then this trade should have been avoided.

*** Trade in the direction of the higher timeframes Weekly, Daily and H4.

Attached Image (click to enlarge)
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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #10,364
  • May 7, 2025 12:18pm May 7, 2025 12:18pm
Thanks Emmanuel

I bombed on both of those trades. I realised after pulling the trigger that I may have been hasty in jumping in. The system works but the psychological aspect is by far the greatest challenge in trading. The true holy grail is being able to master one's own mind and emotions. This is something I grapple with! If you don't mind, I would like to post some trades I take as I go along, any insights are welcome. I am here to learn as much as I can.
  • #10,365
  • May 7, 2025 6:00pm May 7, 2025 6:00pm
Quoting emmanuel7788
May 07, Follow the Weekly and Daily, GBPNZD May 07 London 8am but beware of low timeframe reaction at @2.2178 {image} ... ...

GBPNZD May07 review on charts ...

> Top Down review
> take notes of what you see on each chart
> be better prepared when you look for trades

Weekly
- what is the market type conditions when this week market open
> range bound market

Attached Image (click to enlarge)
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Daily
- in a narrow range bound market Daily will not run 3 to 8 candles

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Click to Enlarge Name: GN May07 Daily review 22178 8-5-2025 8-44-32 am.png Size: 35 KB


H4
- beware when trading in range bound market conditions
- take note of recent swing highs and swing lows, these are support & resistance,

Attached Image (click to enlarge)
Click to Enlarge Name: GN May07 H4 review 8-5-2025 8-47-00 am.png Size: 41 KB


H1
- when trading H1, >>>> Price Action is king
- learn to read the Price OHLC, APB and HA candles,
- same basic forex stuff mentioned in the pdf "Best of Big E I " ... page 32 POST #647


Attached Image (click to enlarge)
Click to Enlarge Name: GN May07 1Hr review 8-5-2025 8-42-35 am.png Size: 43 KB



...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #10,366
  • May 7, 2025 7:58pm May 7, 2025 7:58pm
Quoting Roscearm
EURUSD +2R this morning {image}
Hi Roscearm,

May I know what is the purple line?

https://www.forexfactory.com/attachm...1?d=1745817289


Also may I know if you have extended time turn on or are you using regular.
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  • #10,367
  • May 7, 2025 10:31pm May 7, 2025 10:31pm
Quoting Cannonfairy
{quote} Hi Roscearm, May I know what is the purple line? https://www.forexfactory.com/attachm...1?d=1745817289 Also may I know if you have extended time turn on or are you using regular. {image}
May I know what is the purple line?

That is HMA 69. You can play around with the settings if you like. I am now using HMA 150.

Also may I know if you have extended time turn on or are you using regular.

I think this depends on the instrument one is trading. If I check for MNQ or GC, yes it has ETH on. For others it is just regular TH.
Find a strategy that works consistently and then trading becomes easy.
  • #10,368
  • Edited 4:02am May 8, 2025 12:07am | Edited 4:02am
I learn by doing so if you all don't mind, I would like to post a trade here and there with my thought process and if anyone has any feedback, it would be appreciated. Thanks To Emmanuel for his thoughts so far.

I took this trade with a 1:1 RR and 0.5% of equity on the line. My thought process,
Weekly chart shows overall down trend, there has been a pull back but candles reflecting this is done.
Daily chart from what I can see is showing a continuation of the downtrend.
4H chart, although we are nearing a support zone, I have read that the more a zone is tested, the more likely it will be broken. This support zone has been tested 6 times before?

Edit: But I have also read that the more a support or resistance level is tested and price is rejected the more it's strength is confirmed. So, at this stage we wait and see what happens and take notes. There is a lot of contradictory information out there.

All confluences met on 4H with crossover, RSI and stochs for a short. Trade taken. If my TP is hit on 4H I will consider looking at the daily continuation trade if confluences are still met.

Any suggestions or thoughts on my thought process regarding this trade?
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  • #10,369
  • May 8, 2025 1:36am May 8, 2025 1:36am
In the spirit of learning, I will also post a trade I have taken that again on second thought I now realise I may have been hasty. Maybe this will also help some other newbie that is also learning. Anyway,

Thought process,
Did the top down approach from weekly chart to 4H chart.
Weekly shows overall bullish trend, currently in a pullback with signs of this coming to an end.
Daily chart consolidating but showing a possibilty of the continuation of the uptrend.
4H fairly range bound currently but I took the trade anyway on the 4H, why because at the time I thought, well it looks as though that weekly pullback is coming to an end and I want to get in.
All confluences were met on 4H with crossover, RSI and Stochs.

However, what I think I should have actually done is wait for that daily blue candle to close and wait for that break out of consolidation on the 4H before taking the trade.

Patience is key and that is something I struggle with.

Thoughts and feedback welcome.
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  • #10,370
  • May 8, 2025 1:46am May 8, 2025 1:46am
Thank you very much. May I also know if you have any alert set in place using Tradingview?
  • #10,371
  • May 8, 2025 5:16am May 8, 2025 5:16am
Quoting Roscearm
{quote} May I know what is the purple line? That is HMA 69. You can play around with the settings if you like. I am now using HMA 150. Also may I know if you have extended time turn on or are you using regular. I think this depends on the instrument one is trading. If I check for MNQ or GC, yes it has ETH on. For others it is just regular TH.
Hi Roscearm, you are using the HMA 150 for your classical 5 min chart? If so, could you comment your idea for that.
Tks
  • #10,372
  • May 8, 2025 5:38pm May 8, 2025 5:38pm
Quoting csierravh
{quote} Hi Roscearm, you are using the HMA 150 for your classical 5 min chart? If so, could you comment your idea for that. Tks
you are using the HMA 150 for your classical 5 min chart?
Yes

If so, could you comment your idea for that.
Not sure what you mean by this mate.
Attached Image
Find a strategy that works consistently and then trading becomes easy.
  • #10,373
  • May 8, 2025 7:42pm May 8, 2025 7:42pm
Quoting Cannonfairy
Thank you very much. May I also know if you have any alert set in place using Tradingview?
absolutely and so should everyone.
You should also have one for Stochs crossing 50 level.
Attached Image (click to enlarge)
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Find a strategy that works consistently and then trading becomes easy.
  • #10,374
  • May 8, 2025 8:47pm May 8, 2025 8:47pm
Quoting SamIam.
In the spirit of learning, I will also post a trade I have taken that again on second thought I now realise I may have been hasty. Maybe this will also help some other newbie that is also learning. Anyway, Thought process, Did the top down approach from weekly chart to 4H chart. Weekly shows overall bullish trend, currently in a pullback with signs of this coming to an end. Daily chart consolidating but showing a possibilty of the continuation of the uptrend. 4H fairly range bound currently but I took the trade anyway on the 4H, why because at the...
I see the Daily - Weekly Trend by TMS(r) is still in a downtrend. So why did you Buy H4? 2nd as post 1, you entered at the 4th price bar while the crossover happened at the 1st model bar According to the HTF analysis rules, you can't buy either. According to the individual blind Trade rules, you buy. This is just my personal opinion. Sorry, my English is not good
  • #10,375
  • May 9, 2025 1:43am May 9, 2025 1:43am
Quoting Jonhathan123
{quote} I see the Daily - Weekly Trend by TMS(r) is still in a downtrend. So why did you Buy H4? 2nd as post 1, you entered at the 4th price bar while the crossover happened at the 1st model bar According to the HTF analysis rules, you can't buy either. According to the individual blind Trade rules, you buy. This is just my personal opinion. Sorry, my English is not good
Thanks Johnathan, I understand what you are saying perfectly so english can't be too bad. Yes, I realised once I looked over everything again that I had been far too quick to jump in. This is something I am struggling with, patience. I have a habit of jumping in before I should. Thankfully it is just a demo account. I definitely won't be going live until I have sorted my own trading psychology out. Easier said than done though.

Thanks to Emmanuel and CogAlhpha's advice, I have whittled my watchlist down to just major pairs and I have a notebook now. This morning I sat and looked at all the charts top down and wrote as many notes from what I could see as possible.

Correct me if I am wrong but USDCAD looks interesting as a prospect, waiting to see if indies align with my notes (see, progress!).

Sometimes there are things that you know in your head you should be doing to improve but until someone says, Hey Jackass, you should be doing xyz, you don't do it. I guess it is what learning is all about.

I have only been "trading" for +-4 months so still have a long way to go.
  • #10,376
  • May 9, 2025 2:15am May 9, 2025 2:15am
Quoting Roscearm
{quote} absolutely and so should everyone. You should also have one for Stochs crossing 50 level. {image}
Thank you Roscearm
  • #10,377
  • May 9, 2025 3:15am May 9, 2025 3:15am
Short taken on the NZDUSD Daily. Weekly bias is bearish and there is a double top on the Daily. All indies align on the Daily as well.
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  • #10,378
  • May 10, 2025 7:07pm May 10, 2025 7:07pm
Quoting SamIam.
Short taken on the NZDUSD Daily. Weekly bias is bearish and there is a double top on the Daily. All indies align on the Daily as well. {image}
I think you entered early according to the rule. You entered early when RSI had not closed below 50. According to the lectures, we always wait for the closing price bar to confirm the RSI and Stoch line parameters.
  • #10,379
  • May 11, 2025 10:15am May 11, 2025 10:15am
Quoting Roscearm
{quote} Hey Buddy, Thank you for your kind words. Happy to help where I can. You will start to see many things once you spend enough time on the charts. What RH has given is the most simplest and the easiest method you can adopt and build a very profitable system out of it. Coming to your question about MT5: I use MT4, MT5 or Ninja Trader mainly for trade executions. I do not do charting on these. Like even if I do, i revert to TradingView for charts. Nothing beats TradingView (at least as per me) for charting purposes and the ease with which you...
I find also tradingview more convenient , but we need to pay a subscription to use indicators right?
  • #10,380
  • May 11, 2025 10:20am May 11, 2025 10:20am
Guys we need metatrader 4 instead of 5 to use the indicators right ? cuz now im struglling to apply the templates and indicators
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