Trading Made Simple | Page 938 | 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

  • #18,741
  • May 6, 2013 4:44am May 6, 2013 4:44am
Do not enter a 4H trade simply on H4 TDI cross + APB/HA candles #1 and #2 and Stoch confirmation.

Always start the day and checking the Weekly and Daily charts to look for the higher timeframe bias. And also where the nearby historical support and resistance are.

Do Not SELL into Support.
DO Not BUY into Resistance.

Always see that there is sufficient room for you to take some profit off the market and BE your trades.

There is an example I posted above on CHFJPY - why that 4H setup was a high risk one.

PATIENCE and TIMING

Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #18,742
  • May 6, 2013 5:39am May 6, 2013 5:39am
PLEASE can someone tell me how to add this TDI in my metatrader 4. i am having great difficulty doing it. after creating it in custom indicator and adding it to the chart nothing appears. please help me
  • #18,743
  • May 6, 2013 5:56am May 6, 2013 5:56am
Quoting borgu
PLEASE can someone tell me how to add this TDI in my metatrader 4. i am having great difficulty doing it. after creating it in custom indicator and adding it to the chart nothing appears. please help me
Did you close and restart MT4 ?

Some good tutorials on YouTube

Inserted Video


http://youtu.be/BoaVu0QV86U
It takes a lot for me to IGNORE you, but you can try.
  • #18,744
  • May 6, 2013 6:17am May 6, 2013 6:17am
Quoting emmanuel7788
Big Picture planning (Step 4) Now switch your chart to show Candlestick Chart. You can fine tuned and adjust some lines as you wish to. Now I pay more attention to candles with long wicks (shadows) If there are cluster of candles with long upper or lower wicks, I will mark these areas as potential support or resistance zones. If there are no cluster of wicks close by, I will simply keep the horizontal S&R lines for MN and W1. See chart below: {image}
Hi,

What is it you mean by clusters of wicks/shadows? How do you define that? And by mark them, do you mean draw a circle around them?
  • #18,745
  • May 6, 2013 7:35am May 6, 2013 7:35am
Attached Image (click to enlarge)
Click to Enlarge Name: audcadh1.png Size: 33 KB


Attached Image (click to enlarge)
Click to Enlarge Name: audusdh1.png Size: 33 KB


and H4 trade

Attached Image (click to enlarge)
Click to Enlarge Name: audusdh4.png Size: 47 KB


and today's mistake

Attached Image (click to enlarge)
Click to Enlarge Name: eurgbph1.png Size: 35 KB


couple other trades still running
JacekPreserve Precious Capital
  • #18,746
  • Edited 9:30am May 6, 2013 8:14am | Edited 9:30am
my AU trade thats still running.
at the moment it hit the resistance level. im thinking if i should let it run and see if it can break support
or just take profit and call it a good day.
Support have been tried last week and week before and almost 2 months ago

Update. Trade closed with +50 pips
Attached Image (click to enlarge)
Click to Enlarge Name: au4h.gif Size: 48 KB
Daniel
  • #18,747
  • May 6, 2013 8:28am May 6, 2013 8:28am
good busy Monday,
lot of crosses happened and finish soon for the day with 100pips+ in less than 3hrs. AUD is weakening, not sure what's wrong with my country...

p/s: just saw 11 more TDI crosses on my tdi monitoring tool built yesterday but too tired to do any more analysis
back... and more dangerous.
  • #18,748
  • May 6, 2013 8:58am May 6, 2013 8:58am
Attached Image (click to enlarge)
Click to Enlarge Name: gbpaudh1.png Size: 34 KB


one more for today
JacekPreserve Precious Capital
  • #18,749
  • May 6, 2013 9:22am May 6, 2013 9:22am
This is how my Big Picture for AUDUSD looks in 4hour..looks like a lot more S/R levels than Emmanuels example. Is this ok?
Attached Image (click to enlarge)
Click to Enlarge Name: audusdweekly.png Size: 58 KB
  • #18,750
  • May 6, 2013 9:28am May 6, 2013 9:28am
Quoting irishtoffy
This is how my Big Picture for AUDUSD looks in 4hour..looks like a lot more S/R levels than Emmanuels example. Is this ok? {image}
Can you trade peacefully while seeing soo many support and resistance line? I know i cant
Daniel
  • #18,751
  • May 6, 2013 9:53am May 6, 2013 9:53am
Quoting irishtoffy
This is how my Big Picture for AUDUSD looks in 4hour..looks like a lot more S/R levels than Emmanuels example. Is this ok? {image}
Attached Image (click to enlarge)
Click to Enlarge Name: audusdh4.png Size: 45 KB



This is mine, but, I normaly not use D1 lines, bcoz they can be easy seen directly on the screen and do not make mess on the chart,
JacekPreserve Precious Capital
  • #18,752
  • May 6, 2013 10:00am May 6, 2013 10:00am
Attached Image (click to enlarge)
Click to Enlarge Name: euraudh1.png Size: 37 KB


Is it efect of Mr Draghi speech??
If yes, I don't like him
JacekPreserve Precious Capital
  • #18,753
  • May 6, 2013 10:08am May 6, 2013 10:08am
Jackub
Quote
This is mine, but, I normaly not use D1 lines, bcoz they can be easy seen directly on the screen and do not make mess on the chart

Traders . . . a suggestion.

I would only label key S/R levels relevant to current price action - in a range of about 300-400 pips at most either side of current price starting with the Daily chart.

Labeling S/R 500-1500 pips away from current price action has no relevance unless you are position trading the Daily, Weekly or Monthly charts.

If you are an intraday trader, look at the ADR and ATR of the Daily charts and start there as a reference for potential ranges along with your S/R levels.

Do this every day as part of your pre-trade routine and it will keep your mind on what is happening now give you an idea/estimate of the potential volatility and price action of the current day's set-ups - and also keep your charts much less cluttered.

dcginc
  • #18,754
  • May 6, 2013 10:09am May 6, 2013 10:09am
Hello forexfactory,
I am a new member in this forum. My nickname is FX94 and i live in Germany. I am 18 year old, and interested in Trading.

I was testing the TMS System, with the TDI indicator, and had some really good trades. But can you explain me, how i should set SL / TP positions ?
From the thread i understood, that I have to observe the H1/H4 in the full context ? (Big Picture planning; Thanks to Emanuel !!)

Is the system also working on lower time frames like M30 or M15 ?

Best regards,
FX94
  • #18,755
  • May 6, 2013 10:10am May 6, 2013 10:10am
Traders - PLEASE do yourself a favor and take emmanuel's advice on this. It totally changed my trading. I only trade the 4HR using the Weekly APB as a trend indicator. For example, once I see a bearish candle close and the 2nd candle also opens bearish, I will only look for shorts on my 4 hour chart. This also works well if you are trading a 1 HR using the Daily chart as the trend indicator. I don't use S&R as much because of the subjectivity, unless it is an obvious S&L level.

This is just one of the 4HR trades I took last week - I longed the NZD/JPY at the green vertical line and I was able to easily survive NFP to hit my TP level. Note the weekly trend - long.

Hope the helps.

BTP


Quoting emmanuel7788
Do not enter a 4H trade simply on H4 TDI cross + APB/HA candles #1 and #2 and Stoch confirmation. Always start the day and checking the Weekly and Daily charts to look for the higher timeframe bias. And also where the nearby historical support and resistance are. Do Not SELL into Support. DO Not BUY into Resistance. Always see that there is sufficient room for you to take some profit off the market and BE your trades. There is an example I posted above on CHFJPY - why that 4H setup was a high risk one. PATIENCE and TIMING
Attached Image(s) (click to enlarge)
Click to Enlarge Name: NZD Weekly.png Size: 81 KB
Click to Enlarge Name: NZD 4 HR.png Size: 97 KB
Without vision, the people will perish.
  • #18,756
  • May 6, 2013 10:17am May 6, 2013 10:17am
Quoting dcginc
Jackub {quote} Traders . . . a suggestion. dcginc
Good point, thanks
JacekPreserve Precious Capital
  • #18,757
  • May 6, 2013 10:24am May 6, 2013 10:24am
Quoting Greenb
{quote} Can you trade peacefully while seeing soo many support and resistance line? I know i cant
This is exactly the reason I am asking..it seems like too much on the chart, most of which seems irrelevant.

Although a couple of the monthly S/R levels seem significant.

I think best to go with what someone else said above..only deal with S/R levels in a certain range of current price. That seems like a good way to go!
  • #18,758
  • May 6, 2013 10:52am May 6, 2013 10:52am
Emmanuel,

Thanks for your prompt reply.

I will go through the first 50 pages as recommeded by you and set up my MT4 as per the templates provided.

Do you have any other recommendations for a newbie like me.

Thanks once again.
Mukeshk
  • #18,759
  • May 6, 2013 11:16am May 6, 2013 11:16am
Quoting Jackub
{image} Is it efect of Mr Draghi speech?? If yes, I don't like him
I dont think so. He spoke 3 hours ago so about 2 hours before you post your chart. If what he was saying affect the euro a lot, we would have seen more movement on the previous 2 candles.
Beside that blue bear candle juat before the big red bear should have given you a warning that price is about to turn. TDi would have made a check mark. At leaat thats what i observed. Hope that helps
Daniel
  • #18,760
  • May 6, 2013 11:25am May 6, 2013 11:25am
Quoting Greenb
{quote} I dont think so. He spoke 3 hours ago so about 2 hours before you post your chart. If what he was saying affect the euro a lot, we would have seen more movement on the previous 2 candles. Beside that blue bear candle juat before the big red bear should have given you a warning that price is about to turn. TDi would have made a check mark. At leaat thats what i observed. Hope that helps
Hi I just had to leave for couple of hours and this move surprised me a little... anyway six trades today two went wrong, could be better but I do not complain. Trading R:R=1 gained 83 pips
Two mistakes to write about in my journal... thank you mate..
JacekPreserve Precious Capital
44 traders viewing now