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Trading Made Simple system follower - Thanks to eelfranz 9 replies

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Trading Made Simple

  • #17,061
  • Apr 7, 2013 11:43am Apr 7, 2013 11:43am
Quoting Favorite
It is really very simple. Yes, we wait for TDI's signal and confirm it looking at stochastic. But what is much more important - BigE recommended to look for the best setups available, and stochastic helps us to find them. For example: if TDI was above 68 and now is going down AND stochastic was above 80 and now is going down - that's an ideal setup. If TDI was below 32 and now is going up AND stochastic was below 20 and now is going up - that's an ideal setup.
It is necessary to wait for the candle closing or no?
  • #17,062
  • Apr 7, 2013 11:50am Apr 7, 2013 11:50am
Quoting fxpro123
It is necessary to wait for the candle closing or no?
eelfranz discused this problem many times,
if you have first signal candle with new colour and piercing TDI and direction confirmed by STOCH, you are taking position on opening of the next (secound) candle, -- it is a basic rule
JacekPreserve Precious Capital
  • #17,063
  • Apr 7, 2013 12:43pm Apr 7, 2013 12:43pm
Quoting fxpro123
It is necessary to wait for the candle closing or no?
-
Quoting eelfranz
We Enter a trade when green crosses red on the TDI at the beginning of that candle...
Gentlemen always play by the rules. If they can't, they change the rules.
  • #17,064
  • Apr 7, 2013 12:53pm Apr 7, 2013 12:53pm
Quoting Favorite
-


eelfranz..... That's why I want to enter on candle 1 or 2 if I see a set up.
JacekPreserve Precious Capital
  • #17,065
  • Apr 7, 2013 12:57pm Apr 7, 2013 12:57pm
Some more from eelfranz...
I look at everything... last hi/lo, last reversal strength, candle size, Is Stoch's confirming, Is it candle 1 or 2... everything... TDI gives me the signal.. it's my job to check out the rest...
JacekPreserve Precious Capital
  • #17,066
  • Apr 7, 2013 3:30pm Apr 7, 2013 3:30pm
Start of the Week Asian Session Trade Call: EU H4 Doji.
(I rarely do this but just for fun)

Attached Image (click to enlarge)
Click to Enlarge Name: eurusdh4-08042013.png Size: 31 KB

TDI is about to cross down (& from upper viotality channel, not in TMS system). EMA200 big resistance as well as resistance as prev high 25Mar.
Short if price can reach down to 2960 and next candle, 150mins left, is red. 2 TP targets marked by horizontal line as in chart. (TP1 is daily support as well as 60EMA. TP2 is daily support.)

Any comment is appreciated and welcome.
back... and more dangerous.
  • #17,067
  • Edited 6:41pm Apr 7, 2013 6:17pm | Edited 6:41pm
Hi ALL,

Just found some free time to read this week's posts.
There are some new traders to TMS and the same a few basic questions asked repeatedly like before.
The commom FAQ is the setup and entry candle.
FAQ1: Do I wait for candle to close?
FAQ2: Can I enter during a candle, for e.g. during candle no.2?

Fact is , trading TMS requires some discretion. The discretion comes from your experience from doing back-testing and from live realtime trading practice. Eric talked about PA and Supp/Res quite often in the past also during the CH 5-Method days. He rarely shows Supp/Res on his training charts.

Here chart below I will use the 4H entry method to explain a few recent setups and how these could have been traded if you were watching your charts every 4-hours.

Remember this: You will only see when you know exactly what you are looking for. Don't even try to think and imagine things which are not there in your charts. Your mind play games with your eyes when you stare too long at your charts.
Take a break, walk away fromyour charts. Know exactly what you are looking for.
Trade what you see and not what you think you see.
It is that easy but yet very hard to do.
Be DISCIPLINE, if not then the market will discipline you.

Week 15 comment:
The market is flooded with liquidity after what the BOJ did last week. THis is good for us trading this week 15. But trade the smart way i.e. the simple way using TMS and learn PA and Supp/Res. Learn and accept the fact that you must cut loss sometime and by all means cut loss willingly and take loses small 10-20pips. And always be prepared and ready to take the turnaround trade.

Trade Well.
Attached Image (click to enlarge)
Click to Enlarge Name: EU H4 entry examples.png Size: 122 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #17,068
  • Apr 7, 2013 6:35pm Apr 7, 2013 6:35pm
Quoting thomi
Hello Emmanuel; Could you give me your opinion on HA Eur / Usd now end of the first blue candle H4 3rd blue candle daily H1 can be rebound at 50rsi problem is the time I do not take signals just before New york session {image}
http://www.forexfactory.com/attachme...1&d=1364990450

Hi thomi,

very sorry I was not online much these days and missed answering your post.

just to comment: when we trade the 4H period, the PA using APB is very important. whether or not to take a trade close to NY open depends on the volatility of the 4H market periods. If there is consolidation, then I like that. If there is any key data release during the US session, I will stay out until after the data release and the 'dust has settled' and I need to see a clear picture. If there is a breakout potential, I may consider getting in early before the news time and there must be room to protect/BE trade before that time comes.

Trade Well.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #17,069
  • Apr 7, 2013 6:51pm Apr 7, 2013 6:51pm
Watching EUR/JPY and USD/CHF. Could be opportunities here
  • #17,070
  • Apr 7, 2013 9:17pm Apr 7, 2013 9:17pm
Can someone help me out please.I want to change the color of the APB candles and save them but everytime I do it just goes back to the original blue red when I close out my charts and reload them.Any help would be much appreciated.

Thanks again,


cmore
  • #17,071
  • Apr 7, 2013 10:06pm Apr 7, 2013 10:06pm
EURAUD week 15 H4 8 April:

Training chart..
Attached Image (click to enlarge)
Click to Enlarge Name: EURAUD week 15 H4 8 April 8-4-2013 1-01-20 PM.png Size: 51 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #17,072
  • Edited Apr 8, 2013 12:36am Apr 7, 2013 10:14pm | Edited Apr 8, 2013 12:36am
Quoting cmorecrds
Can someone help me out please.I want to change the color of the APB candles and save them but everytime I do it just goes back to the original blue red when I close out my charts and reload them.Any help would be much appreciated. Thanks again, cmore
Hi cmorecrds,

Here, ... use this one which will allow you to change the HA colour and width....

Enjoy.
Attached File(s)
File Type: ex4 HeikenAshi_DM.ex4   3 KB | 517 downloads
File Type: mq4 HeikenAshi_DM.mq4   5 KB | 661 downloads
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #17,073
  • Apr 7, 2013 10:15pm Apr 7, 2013 10:15pm
Quoting emmanuel7788
EURAUD week 15 H4 8 April: Training chart.. {image}
Hi,

Looks like we have resistance just over the price at level 1.29950--1.3000 plus 200EMA, and another one lower at 1.28780 (target?),
JacekPreserve Precious Capital
  • #17,074
  • Apr 7, 2013 10:17pm Apr 7, 2013 10:17pm
Quoting Jackub
Hi, Looks like we have resistance just over the price at level 1.29950--1.3000 plus 200EMA, and another one lower at 1.28780 (target?),
do we have IBnr4 already on H4?
JacekPreserve Precious Capital
  • #17,075
  • Apr 7, 2013 10:20pm Apr 7, 2013 10:20pm
Quoting emmanuel7788
EURAUD week 15 H4 8 April: Training chart.. {image}
Support @ 1.24930?
Day chart suggests a recent break from a downward channel so potentially against the trend.
I thought according to the rules we wait for a colour change and enter on candle 1 or 2.
  • #17,076
  • Apr 7, 2013 10:20pm Apr 7, 2013 10:20pm
Quoting emmanuel7788
Hi cmorecrds, Here, ... use this one which will allow you to change the HA colour and width.... Enjoy. {file} {file}
Ty emmanuel

Also thanks for all the great info you have provided for everyone here.


cmorecrds
  • #17,077
  • Apr 7, 2013 10:25pm Apr 7, 2013 10:25pm
Quoting ryanlum
hey emmanuel, do you draw the support and resistance manually or do you have an indicator for it? if you do please attach it

Hi ryan,

I draw all key historical support and resistance manually using weekly and monthly close price, ..i.e. line chart will show the close prices.
very clearly.

You can read more on how to draw historical support and resistance at babypips.com

http://www.babypips.com/school/suppo...esistance.html

Trade Well.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #17,078
  • Apr 7, 2013 10:26pm Apr 7, 2013 10:26pm
Quoting Jackub
Hi, Looks like we have resistance just over the price at level 1.29950--1.3000 plus 200EMA, and another one lower at 1.28780 (target?),
I am blind man I was watching on EUR/USD chart.....
JacekPreserve Precious Capital
  • #17,079
  • Apr 7, 2013 10:32pm Apr 7, 2013 10:32pm
Quoting adamjhdavis
Support @ 1.24930? Day chart suggests a recent break from a downward channel so potentially against the trend. I thought according to the rules we wait for a colour change and enter on candle 1 or 2.
yes, Big E H4 rules are very simple and clear.

looking at EURAUD, the higher TFs - D and W are not in favour of sell. But .... let the market show us the way this week.
We must learn to be PATIENT and be DISCIPLINE in this.


Caution with Aussie going forward from this week.
Aussie is will be traded directly with China CNY so we should expect to see more liquidity in buying and selling of AUD.
This can be another opportunity for AUD pairs movements.

Trade Well.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #17,080
  • Apr 7, 2013 10:34pm Apr 7, 2013 10:34pm
Quoting Jackub
I am blind man I was watching on EUR/USD chart.....
BATS are blind creatures, but they fly beautiful, they hunt and get their meals, .... LOL.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
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