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Trading Made Simple the right way, and other trading lessons 334 replies

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Trading Made Simple system follower - Thanks to eelfranz 9 replies

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Trading Made Simple

  • #8,641
  • Jul 21, 2011 10:13pm Jul 21, 2011 10:13pm
Quoting wmloto
This maybe something someone may have overlooked. Sometimes when I learn new stuff I disregard some of the old. Don't want to appear to tell a stripper how to change his/her underware but I have found the following helpful. Very helpful. Also as someone else mentioned earlier - just before I press the button I scale down to the 15mins just to check action down there. About a hour before daily close I have a list of the main 8 pairs I am watching. I scan the weekly, daily candles of each pair making notes on TDI strength, , sr levels, candle close...
I'm interested! Please PM me.
  • #8,642
  • Jul 21, 2011 10:35pm Jul 21, 2011 10:35pm
Wow!
Three and a half pages begging for the "gem", and the gem is: DO your due diligence before pulling the trigger, do some research, prepare for the trade.
And you want to be traders?
Happy pipping!

JQ
  • #8,643
  • Jul 21, 2011 10:46pm Jul 21, 2011 10:46pm
Quoting candela04
Wow!
Three and a half pages begging for the "gem", and the gem is: DO your due diligence before pulling the trigger, do some research, prepare for the trade.
And you want to be traders?
Happy pipping!

JQ
HAHAHA good one

Another day of trading.... Where is my wheel borrow...

Woooo bring it on hehe
  • #8,644
  • Jul 21, 2011 10:50pm Jul 21, 2011 10:50pm
P.S Careful from the news all. EUR and CAD hot topic today!
  • #8,645
  • Jul 21, 2011 10:52pm Jul 21, 2011 10:52pm
Quoting candela04
Wow!
Three and a half pages begging for the "gem", and the gem is: DO your due diligence before pulling the trigger, do some research, prepare for the trade.
And you want to be traders?
Happy pipping!

JQ
LOL if there's a sign that says "get in line and you could get 1 Million Dollar," would YOU get in line? Or do you say to yourself, it's just $1 Mil, I'll make that amount by working?
  • #8,646
  • Jul 21, 2011 10:57pm Jul 21, 2011 10:57pm
I can't believe people are still reqesting his gem when he has already posted THE GEM... wake up.

good luck tonight
  • #8,647
  • Jul 21, 2011 11:07pm Jul 21, 2011 11:07pm
Quoting eelfranz
I can't believe people are still reqesting his gem when he has already posted THE GEM... wake up.

good luck tonight
... ha ha ha... it really woke me up laughing... going to the lower time frame to get the best price is basic 4x function... before pulling the trigger
  • #8,648
  • Edited Jul 22, 2011 12:04am Jul 21, 2011 11:18pm | Edited Jul 22, 2011 12:04am
Quoting evolution9
i think every one has over looked the Gem, wmloto has explained it here.http://www.forexfactory.com/images/icons/icon14.gif post 8649
Yes, more and more , and more, rules added to this system so discretional but efective system for those who really have been trading long ago, any system can be very good on the hands of an experience trader.
Indicators always obey Price, not the other way.
  • #8,649
  • Jul 21, 2011 11:22pm Jul 21, 2011 11:22pm
Quoting mikelee
... ha ha ha... it really woke me up laughing... going to the lower time frame to get the best price is basic 4x function... before pulling the trigger

This is not a 4x basic function, what you see on a 15 min charts is not the same as what you see on 1 hour, or 4 hour, or weekly charts, this is why there are scalpers and there are more long term traders.
Indicators always obey Price, not the other way.
  • #8,650
  • Jul 21, 2011 11:32pm Jul 21, 2011 11:32pm
It's after you see a viable trade in the time frame you are trading(could be 4hour or the daily) and form a bias... thereafter you go to the lower time frame to get the best price... it's basic 4x because when we buy(long) our intention is to buy at the lowest price and when we sell(short)sell at the highest price... it's at the lower time frame that you can actually see where the price is heading.
  • #8,651
  • Jul 21, 2011 11:32pm Jul 21, 2011 11:32pm
Quoting eelfranz
I can't believe people are still reqesting his gem when he has already posted THE GEM... wake up.

good luck tonight
lol I was thinking the same thing, laughing... Anyways... Didn't see any 4hr trades tonight on the 21:00(pst) candle for my broker with the pairs I trade... I'm off to bed... Happy pip'in to those of you troopers still up
  • #8,652
  • Edited 11:45pm Jul 21, 2011 11:34pm | Edited 11:45pm
Quoting mikelee
It's after you see a viable trade in the time frame you are trading(could be 4hour or the daily) and form a bias... thereafter you go to the lower time frame to get the best price... it's basic 4x because when we buy(long) our intention is to buy at the lowest price and when we sell(short)sell at the highest price... it's at the lower time frame that you can actually see where the price is heading.

Sorry to disagree, maybe It is the way some people trade but this is not forex basic. I am a price action trader, and I can consider myself a successful one because I live from trading and when I take a position on 4 hours time frame I never look at lower time frames, This topic got my attention because It remembered me when I started to look at the price instead of indicators, trends, etc.
Indicators always obey Price, not the other way.
  • #8,653
  • Jul 21, 2011 11:38pm Jul 21, 2011 11:38pm
Quoting maxtrader
Sorry to disagree, maybe It is the way some people trade but this is not forex basic.
... no problem my friend as long as we are making money by going to the lower time frame to execute our trade
  • #8,654
  • Jul 21, 2011 11:39pm Jul 21, 2011 11:39pm
Quoting mikelee
... no problem my friend as long as we are making money by going to the lower time frame to execute our trade
Totally I agree with you, there are many ways to sucessfully trade.
Regards
Indicators always obey Price, not the other way.
  • #8,655
  • Jul 22, 2011 12:15am Jul 22, 2011 12:15am
Quoting Noel
wmloto,
Can you please pm me info on your "little gem"
many thanks
Me too please
  • #8,656
  • Jul 22, 2011 1:46am Jul 22, 2011 1:46am
Quoting wmloto
Evening all, although saying that, no one acknowledged me last night on my two pointers, anyway just thought I would say i think anyone trading anything to do with the euro today was either a nutter or brave. Bagged just short of 200 pips last night (whilst I slept) last night on GJ because of something I saw. This system is starting to work for me but i feel i am trusting it too much (no disrespect intended) - if ya get me. Sometimes something just stands out, believe I have spent a lot of time WATCHING charts and I think systems are great - but...
Would love to know your little gem please.....SORRY forget it, I just read it. I messaged before I got to your public post. Thanks
  • #8,657
  • Jul 22, 2011 1:54am Jul 22, 2011 1:54am
Quoting eelfranz
I can't believe people are still reqesting his gem when he has already posted THE GEM... wake up.

good luck tonight
Actually they are awake but they don't know how to read and process. They are so used be spoon-fed.
  • #8,658
  • Jul 22, 2011 2:07am Jul 22, 2011 2:07am
Jeez. Does nobody pay attention in this thread?
http://ocw.usu.edu/University_Extens...ment/sheep.jpg
  • #8,659
  • Jul 22, 2011 2:29am Jul 22, 2011 2:29am
Good heavens... everyone's so desperate for a little gem. OK, here's mine...

Learn to trade on price action. Clear all indicators from your chart. Every one. Focus just on one pair. Learn to identify the trend on longer timeframes and directional bias on shorter ones. Watch the influence of key support and resistance areas... previous day's low/high, previous sessional low/high, big numbers (00s & 50s), areas of previous support and resistance, pivots, how a confluence of levels can come together to create stronger s/r. Watch them. You don't even need to trade... just watch and learn.

There is no magic button. No indicator that can tell you when to trade. Systems like TMS and 3 ducks are really effective for keeping you out of trades till the conditions are favourable. But that's all.

To trade with any degree of cosistency or success, you HAVE to learn this stuff. There is no option. And the only way you can learn is screen time. Hours and hours and hours of it.
  • #8,660
  • Jul 22, 2011 3:03am Jul 22, 2011 3:03am
How do i sign up for your automatic updates? =)
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