Trading Made Simple | Page 1006 | 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

  • #20,101
  • May 30, 2013 6:48pm May 30, 2013 6:48pm
Quoting Blueman1887
{quote} Hi Emmanuel Would love to be abe to set my charts up like that but when I try try on MT4 I can't get them at the right size, they won't save etc. Is there a link anywhere that shows you how to set the charts up like that. Thanks Blueman
Quoting Greenb
{quote} There is an option on mt4. Under windows tab ypu can choose to tile it vertically or horizontally
Hi Blueman,

As Greenb said, the feature is available in MT4.
Here is a screen shot to help you get started.

Ihave created several Profiles with different charts combinations. After that, I switch Profiles to monitor different currency pairss.
Once you have done that, I have a couple of quick short cuts using scripts which I use to change templates and TF of all charts ...hassle free the lazy way as I am.

First you must create those charts using your own templates and save them as Profiles.

Regards,
EMMANUEL
Attached Image (click to enlarge)
Click to Enlarge Name: Multi-Charts Window.png Size: 191 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #20,102
  • May 30, 2013 7:04pm May 30, 2013 7:04pm
Quoting Prominent88
{quote} Hi Emmanuel, Thanks for your explanation, I know about the time for each market sessions, is just that I not understand why you will emphasize on sell USD? Is there any special news or bad news for USD? Thanks, Prominent88

Prominent88,

we are all techncial traders using TDI, APB/, Stoch.
but we must learn that 10 things which we need skills to see on our charts.
trading can be easy and we simply rely on technical analysis.
some traders trade only based on fundamentals.
yet some will combines both technical and fundamental analysis.
to trade on longer term timframe, traders must also observe all markets condition during the day - the stock, futures, and forex, as also commodity metals and oil, ....
when you have the skills to read those 10 things on your EU and GU charts this week and closer to the time when Tokyo closing, you will understand why I said "sell dollars" .... but then I am 45% time wrong.
Now you can test yourself, look at the charts and ask why EU and GU moved differently than AU,NU and UCad? they are supposed to be correlated and inversely correlated.

regards,
EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #20,103
  • May 30, 2013 7:16pm May 30, 2013 7:16pm
Hi Emmanuel,

Thanks for the tip about studying PASR with Strat. I have spent some time over the last 2 days reading as much as I could and I found myself being drawn in and the female intuition telling me to give more time here. As I am quite serious about learning to trade I will do as much as I can down this road for a while and see how I go. I will still continue to read this thread, I really appreciate your tips and training charts, we all learn so much from these.

Kind regards,
Rosemary
  • #20,104
  • May 30, 2013 7:53pm May 30, 2013 7:53pm
Greenb and Emmanuel thanks very much for your advice I will check that out.


Regards


Blueman
  • #20,105
  • Edited 8:06pm May 30, 2013 7:55pm | Edited 8:06pm
Quoting rosiew7
Hi Emmanuel, Thanks for the tip about studying PASR with Strat. I have spent some time over the last 2 days reading as much as I could and I found myself being drawn in and the female intuition telling me to give more time here. As I am quite serious about learning to trade I will do as much as I can down this road for a while and see how I go. I will still continue to read this thread, I really appreciate your tips and training charts, we all learn so much from these. Kind regards, Rosemary
Hi ALL

rosiew, happy to hear that you found your way to the PASR with Strat and learning there.

Trading made Simple is technical trading using the TDI, APB, Stoch combine with the use of Price Action and Support and Resistance.
What the indicators TDI,APB abd Stoch shows us is very obvious and we simply rely on them to look for trade setups.
What is not obvious is Price Action and Support and Resistance. These requires some more knowledge and lots of practice hours.

Price Action (PA) is a huge subject and we cannot afford the time to go into details research and study, so I simplify it myself and focus mainly into Japanese Candlestick (CS) study and use CS patterns to help me look for higher probability trade setups with TMS.

Support and Resistance - there are different shool of thoughts on this, how to identify S&R, how accurate are these S&R, etc. fact is market move in waves, small waves , big waves, bigger waves, etc.... every wave has a high or a low,
how to draw S&R well babypips School of Pipsology taught us to use Line Chart and Line Chart are in fact the close price of each wave. Market does not believe in accuracy and it does not return to pin-point prices. Therefore S&R is not just one price level simply not all the traders can open and close their trades at pin-point price they want to. It is a small price zone therefore we use CONFLUENCE of several S&Rs and we look for PA in these CONFLUENCE areas.

Here in FF, there are several good Price Action threads and most have been moved to the Commercial Content forum section. I started in FF learning from many of these PA thread, one thread has gone way above 120,000 posts.

Strat' thread is easy to follow and the man himself is a great teacher who inspires people to learn. Strat website has a well laid out content and structure for beginners to learn in progressive steps of each and every topic. The topics are detailed and condensed, it is a very good foundation to build on. This is where my foundation had ben solidified and I further add-on my own knowledge and experience over the past 5 years.

http://www.forexfactory.com/showthread.php?t=155459 ...start here and you will find your way to Strat' website.

At some point in everyone' Learn to Trade journey, everyone must reach the level of unconscious competence where he/she can see these 10 things on their charts and make their trade decisions based on these 10 things:

1) Price Action

2) Trend

3) Multi-Time Frame

4) Momentum

5) Support and Resistance

6) Continuation

7) Volatility

8) Market Strength

9) Range

10) Timing


Good Trading folks.

EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #20,106
  • May 30, 2013 8:02pm May 30, 2013 8:02pm
Every week, I start by looking at the Weekly chart when I start the trading week.
Every day I start my trading day by looking at the D chart TF.

Today is the last trading day of this week and month and this makes it special.

Now look at your W and D charts and decide your trade bias for today.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Majors D chart view.png Size: 74 KB
Click to Enlarge Name: Majors W chart view.png Size: 75 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #20,107
  • May 30, 2013 9:11pm May 30, 2013 9:11pm
HI
AUD USD

can anyone help me analyse where this pair is going? I would love to learn from you guys. Nothing in detail. Mainly pointers apart from the obvious ones

My tools

reading the newspaper (roughly, not in depth)
looking at USD/CHF pair
looking at GOLD movement
ASX200,
next interest rate meeting and sentiment

I can extend this to any pair. It's just i sort of know AUD USD a little.

cheers
  • #20,108
  • May 30, 2013 9:30pm May 30, 2013 9:30pm
beautiful chart on EJ and GJ 4h tf. Notice they are both in range. so either they break or its range play (rather obvious huh)

The question is, how do you trade them. and what are the possibilities of it breaking or ranging.
any answers are appreciated. also put in your reasoning.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: ej4h31-5-2013.gif Size: 21 KB
Click to Enlarge Name: gj4h31-5-2013.gif Size: 18 KB
Daniel
  • #20,109
  • May 30, 2013 9:50pm May 30, 2013 9:50pm
Quoting emmanuel7788
{quote} Prominent88, we are all techncial traders using TDI, APB/, Stoch. but we must learn that 10 things which we need skills to see on our charts. trading can be easy and we simply rely on technical analysis. some traders trade only based on fundamentals. yet some will combines both technical and fundamental analysis. to trade on longer term timframe, traders must also observe all markets condition during the day - the stock, futures, and forex, as also commodity metals and oil, .... when you have the skills to read those 10 things on your EU...
Hi Emmanuel,

Thanks for your sharing. I am picking up the pace slowly and learn a lot of important trading tips and experience from you.

Just my own observation from yesterday market, any traders' advice are welcome:
a. EU and GU are uptrend yesterday because of USD bad news release
b. AU and NU are in ranging zone, low momentum
c. UCad is downtrend because is USD bad news release

Thanks,
Prominent88
  • #20,110
  • May 31, 2013 12:20am May 31, 2013 12:20am
Hi Everyone,

Today no trading for me as I close shop for the month after clsoing my trades yesterday. Today is relaxing time but I am addicted to my charts so I keep watch and do some back-testing.
Also followup with FF PM I realised I missed quite a few PMs and had to apologise to those whom I did not reply you last week.

Three Powerful FOREX Price Patterns

Anyway, here is attached one pdf titled above on price candlestick patterns which I think is useful to explain how a few common candlestick patterns can be traded using TMS as the base system.

My favourites are Candlestick (CS) patterns such as Inside Bars and Outside Bars which are very common. These are good to lookout for when we missed the start of new trend and missed that APB candle#1 and candle#2, we can still look for CS patterns to look for CONTINUATION and jump into the market. Therefore, you must be innovative to look for market entry other than TDI cross for entry. The TDI 12-2 and 4-6 type of entries are always supported by CS patterns.
Study your charts and learn to spot these type of conditions and practice your entries.

When trading TMS, learn to scale-out and scale-in positions. This should an integral part of the EDGE you need to achieve higher win-rate in TMS. The Single Entry Single Exit (SE/SE) is very difficult for most traders and to achieve the high win-loss ratio and high R:R for long term success.

You need to know how to build up positions in the market. If you still do not know please ask. I can repeat these again and again if I have to.

Learn to Trade, and Trade Well.

regards
EMMANUEL
Attached File(s)
File Type: pdf Three Powerful FOREX Price Patterns.pdf   1.8 MB | 10,537 downloads
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #20,111
  • May 31, 2013 12:33am May 31, 2013 12:33am
TOK_5H Range Breakout Trading:

Some of you have heard about Tokyo 5H in some posts here.
Yesterday, some traders found it hard to look for trades using TMS. So i thought I post 2 charts here showing EU and GU which I am testing using this TOK_5H range to help look for breakout trades using TMS as the technical method. This is still in testing phase and apply only to EU and GU becasue I look at the day traded range and to pick only a certain ranging period to trade during the market period from Tokyo open +6 to London close. It is trading in lower TF like H1 and M15 for entry. The position sizing and exit management like taking profits is yet to be finalised based on market volatility.

Just to tempt you with two charts for EU and GU this week. You can see how many trade possibilities there were the last 4 trading days and how pips potential there were.

regards,
EMMANUEL
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EU TOK_5H testing 31-5-2013 1-23-13 PM.png Size: 80 KB
Click to Enlarge Name: GU TOK_5H testing 31-5-2013 1-23-29 PM.png Size: 80 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #20,112
  • May 31, 2013 1:30am May 31, 2013 1:30am
Hi all,
Thought I would post my dumb trade of the week. home sick and hardly awake, so why was i in front of the charts to start with?

All the things you should not do are in this trade.
Impatience, flat TDI, Downward Stoch, NY opening,price at previous resistance. Other than that it looked great..lol
Correct entry is 2 hours later, meeting what should have been the entry requirements, which would have produced a healthy profit rather than the loss.
Attached Image (click to enlarge)
Click to Enlarge Name: demo 20130530 eurusdh1 buy.png Size: 62 KB
  • #20,113
  • May 31, 2013 2:13am May 31, 2013 2:13am
Quoting emmanuel7788
TOK_5H Range Breakout Trading: Some of you have heard about Tokyo 5H in some posts here. Yesterday, some traders found it hard to look for trades using TMS. So i thought I post 2 charts here showing EU and GU which I am testing using this TOK_5H range to help look for breakout trades using TMS as the technical method. This is still in testing phase and apply only to EU and GU becasue I look at the day traded range and to pick only a certain ranging period to trade during the market period from Tokyo open +6 to London close. It is trading in lower...
i really like it. i used to do a breakout like this except I never considered the fact that a 150 pip range in asian session might be bad.
  • #20,114
  • May 31, 2013 2:17am May 31, 2013 2:17am
Quoting rob Miller
Hi all, Thought I would post my dumb trade of the week. home sick and hardly awake, so why was i in front of the charts to start with? All the things you should not do are in this trade. Impatience, flat TDI, Downward Stoch, NY opening,price at previous resistance. Other than that it looked great..lol Correct entry is 2 hours later, meeting what should have been the entry requirements, which would have produced a healthy profit rather than the loss. {image}

Hi rob,

Thank you for sharing this trade lesson for many to learn from. I learned from my many loss trades too. Now I get smarter and reduce my losing trades to below 45%.
Your indicator on the top right hand of your charts said D up^ and W up^, I am sure of that yesterday. Guess who made that indy. The Day bias using the Wekly candle and Day Candle was vey obvious yesterday.
But you took a CT trade that is the one big risk. But when you take CT as a trade Plan A, you must be prepared with a trade Plan B to turnaround back into the Primary Trend. You did not, right?

That is what I meant to having a Plan A and a Plan B. Then even better witn a Plan C.

Anyway, you know and you are smarter having learn from that trade. Now move one, look for the next trade setup and recover your capital.

Trade well,
EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #20,115
  • May 31, 2013 2:25am May 31, 2013 2:25am
Quoting tenmilewalk
{quote} i really like it. i used to do a breakout like this except I never considered the fact that a 150 pip range in asian session might be bad.

The market tarde in ranges everyday and we must know whatb the traded raneg is like for the entire day over the last 100 days as average.
Then we need to know the traded raneg for each market session - Tokyo, London and New York.
Picking a narrow range period then trade the breakout is a common method thousands of traders trade this way.
We can't possibly trade a breakout of a 150pips wide range. That is more like trading a wide range correction or reversal.

Breakout trading is one of the most common method. The next one I have is SYD_2H which I use for AU and AJ, EJ during the Asian hours.
But the core system is still to use TMS.

Stay tuned.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #20,116
  • May 31, 2013 2:26am May 31, 2013 2:26am
Here is GU TOK_5H testing today, not live as I am still testing some stuff on my PC.
Attached Image (click to enlarge)
Click to Enlarge Name: GU 31 May TOK_5H BO testing 31-5-2013 3-06-15 PM.png Size: 48 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #20,117
  • May 31, 2013 2:44am May 31, 2013 2:44am
Quoting emmanuel7788
TOK_5H Range Breakout Trading: Some of you have heard about Tokyo 5H in some posts here. Yesterday, some traders found it hard to look for trades using TMS. So i thought I post 2 charts here showing EU and GU which I am testing using this TOK_5H range to help look for breakout trades using TMS as the technical method. This is still in testing phase and apply only to EU and GU becasue I look at the day traded range and to pick only a certain ranging period to trade during the market period from Tokyo open +6 to London close. It is trading in lower...
Hi Emmanuel,

I like this TOK 5H breakout also, and sometimes I do trade this TOK 5H breakout also, just that I have a few questions:
a. which pairs are suitable for using this breakout?
b. how to measure the range for breakout?
c. which TF is the most suitable to trade this breakout?
d. is there any indicator, template or EA in the market use to trade this breakout?

Appreciate for any reply.

Regards,
Prominent88
  • #20,118
  • May 31, 2013 2:55am May 31, 2013 2:55am
Hi Everyone,

Here is something for your weekend reading:
But remember priority is still time for your spouse/partner, children, friends and neighbours, .... trading is best kept after this order.

Enjoy!
Attached File(s)
File Type: pdf Profiting in Forex - Steve Nisons.pdf   7.1 MB | 18,390 downloads
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #20,119
  • May 31, 2013 2:56am May 31, 2013 2:56am
Quoting emmanuel7788
{quote} Hi rob, Thank you for sharing this trade lesson for many to learn from. I learned from my many loss trades too. Now I get smarter and reduce my losing trades to below 45%. Your indicator on the top right hand of your charts said D up^ and W up^, I am sure of that yesterday. Guess who made that indy. The Day bias using the Wekly candle and Day Candle was vey obvious yesterday. But you took a CT trade that is the one big risk. But when you take CT as a trade Plan A, you must be prepared with a trade Plan B to turnaround back into the Primary...
Hi Emmanuel,

I have heard you post a few times in previous post mention about having Plan A, B, C. Although I know what is Plan A, B, C, but I do not know how to have Plan A, B, C when I am in the trading. Usually I will only have 1 open trade for a pair in a time.

Can you elaborate more about Plan A, Plan B and Plan C.

Thanks,
Prominent88
  • #20,120
  • May 31, 2013 3:18am May 31, 2013 3:18am
Trade closed, good pips after two working day.... Close before S/R of weekly chart.
Attached Image (click to enlarge)
Click to Enlarge Name: 5-31-2013 3-17-53 PM.jpg Size: 208 KB
93 traders viewing now