Trading Made Simple | Page 1269 | 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

  • #25,361
  • Sep 20, 2013 4:40pm Sep 20, 2013 4:40pm
Quoting TheScorpS
{quote} Right Skew I guess Emmanuel, have been back testing since yesterday, with other candle pattern formation I have a question for PHX62 , sir when I read your posts, I see that you take trades when PA test the high or the low of London Session and fail to break , then the setup candle change color to opposite color, I'm not sure if TDI would cross in this case yet, because an aggressive entry is taken on the pullback from the high or the law especially after like 3 test in the m15 or 2 hours in H1 Can you share some thoughts and hints in this...
TheScorps,
I have been busy and just found your question. When I was doing lots of testing and trying to set up my own trading plan, I learned that many times, especially on pairs that have an ADR over 100, that the London session moved differently than the Asian or NY. Most of the time, the high or low of the session or the day are set during the first couple of hours of London and once that happens, price often moves several hours in one direction (sometimes there will be a little retracements and continuations). The market for the past couple of months has not been as consistent but as we get past the summer, I would expect that to change. The more aggressive entries I make at the beginning of London are based on that knowledge. I like to get at least 50 pips from the London session. I do not wait for TDI confirmation when I have a pullback candle or other candle pattern set-ups during the early London hours. I always monitor those trades until I get at least 21 pips into profit and then sometimes let the EA manage the trade from there.
Hope this answers your inquiry........
  • #25,362
  • Sep 20, 2013 5:09pm Sep 20, 2013 5:09pm
Quoting Phx62
{quote} munir, The second candle was a small inside bar and closed below the open which was my first warning sign. All three of the first candles had pullbacks that I did not like so I exited when the third candle began to pull back. There just was not much momentum. I like to see some momentum during the first couple of hours of London. If it is not there and there are no big news announcements pending, price usually doesn't move much until the NY session....and sometimes not even then.
Thanks for the answer.
will start paying more attention to such details
  • #25,363
  • Sep 20, 2013 10:22pm Sep 20, 2013 10:22pm
Quoting Axiom
{quote} Hi Emmanuel Ref: Your chart in post #25357. Same pattern on a different pair and TF. Does it indicate an end of consolidation? Axiom {image}
Axiom,
Thanks again for your effort in doing the exercise and practice to identify PA on that chart below.
That 2 candles swing high and swing low (let's just called them 2 Candles High-Low for the time being), show us that the market has increases interest but undecided on the direction. It is still in consolidation and depends on the candle range, in this example it is D chart, and the candle range is moderate within the 100 days average. Looking back at several days , we see the market bottoming and there is another 3-candle pattern which indicate the end of that downtrend and now we see several days of consolidation. We now plan for a breakout trade using PASR price action at support and resistance.
Attached Image (click to enlarge)
Click to Enlarge Name: Pattern on EA_Axiom.png Size: 51 KB


On the same chart below, I marked 2 other such 2 Candles High-Low.

Attached Image (click to enlarge)
Click to Enlarge Name: Axiom 3.png Size: 47 KB


First, lets look at the one label (1):
When we see such a 2candles swing high and low, we must start to examine facts why. Look back to see if there is any historical S&R using MN and W1.
In this example after (1) was formed, we can see that the last price has a peak using Line Chart close, that is now our new most recent Resistance.
From then onwards, we stalk the market for the next PA after (1).
Did you see the Inside Bar ? That is a good CSP to trade with TMS and the TDI has already confirm that PA. Now we trade the day IB breakout following the PA + TMS entry rules.
With that Day IB, experienced traders will go down to LTF and use Trend Line Break TLB in either H4 or H1 to get an entry which will give them a good entry price plus smaller initial SL.
Once again, using TLB trade entry method also requires TMS confirmation. This is what I call A+++ trade setups which are of higher probability.

Next, after (1), we have a new historical Resistance and the next Master Candle occur just at this Hist R.
Follow that PA and learn step by step to interpret the market sentiments until we see the next 2candle swing High-Low label (2) in the chart above.

Enjoy the back-testing and when market re=open on Sunday NY, it ill be live market session here in this thread.

So for those folks who want to make pips with real money, you must do The Work.

For those who wants to learn PA CSP for TMS trading, you have to participate and do the exercise on post#25,316

Go back to all your trading charts and on D1 and W1 chart TF, learn to identify the 2Candels Swing High-Low and interpret the PA. If you are still unclear what I mean by the 2Candles Swing High-Low, post your chart and ask your questions.

Have Fun.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #25,364
  • Sep 20, 2013 10:23pm Sep 20, 2013 10:23pm
Hey, guys it's weekend! Next week and next month should be better. Enjoy your weekend watching this funny music vedio.
Inserted Video
Simplicity is the ultimate sophistication - Leonardo da Vinci
  • #25,365
  • Sep 20, 2013 10:30pm Sep 20, 2013 10:30pm
Someone PM and ask why A+++ ?

I see her question was why three '+++'?

Does the number of '+' matter?

I can rename that to be A+++++ (five '+') and make things more complicated.
Do you all want that?

Tell me.

Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #25,366
  • Sep 20, 2013 11:27pm Sep 20, 2013 11:27pm
Quoting Phx62
{quote} TheScorps, I have been busy and just found your question. When I was doing lots of testing and trying to set up my own trading plan, I learned that many times, especially on pairs that have an ADR over 100, that the London session moved differently than the Asian or NY. Most of the time, the high or low of the session or the day are set during the first couple of hours of London and once that happens, price often moves several hours in one direction (sometimes there will be a little retracements and continuations). The market for the past...
Yes Phx62, answers my question, thanks for you always help, now I specify 1 night a week, I call that Phx62 , where I just study your complied PDFs
hoping to catch a rule here and there or may of better be a clone , thanks sir
I Have Learned to Take Some Losses to Make Profits
  • #25,367
  • Sep 20, 2013 11:30pm Sep 20, 2013 11:30pm
Emmanuel , thanks a lot about your details information about this 2 bar kinda like fighting from above and below, indeed I had these 2 pattern formation in my mind now since when I see them happening, I see after they form theres almost a trade

Is it ok to search for these pattern swing high and low on the H1 ?
I Have Learned to Take Some Losses to Make Profits
  • #25,368
  • Sep 21, 2013 4:20am Sep 21, 2013 4:20am
hello. last week was a real disaster for me. i am going back to the board. i want help from you guys.
i have posted a weekly chart where i think S&R will be. guide me through it.
the next chart is the monthly

the pair is USD/JPY
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 33 KB
Click to Enlarge Name: Screenshot2.png Size: 27 KB
Come tomorrow, I'll wake up new
  • #25,369
  • Sep 21, 2013 4:35am Sep 21, 2013 4:35am
this chart is the EUR/JPY
i think this was trickier. still i took the swing high and lows.
the first is monthly and the second is weekly yet again
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 26 KB
Click to Enlarge Name: Screenshot2.png Size: 26 KB
Come tomorrow, I'll wake up new
  • #25,370
  • Sep 21, 2013 7:02am Sep 21, 2013 7:02am
Quoting gsbharaj
hello. last week was a real disaster for me. i am going back to the board. i want help from you guys. i have posted a weekly chart where i think S&R will be. guide me through it. the next chart is the monthly the pair is USD/JPY {image} {image}

gsbharaj,

What exactly is your disaster?
And what are the reasons that make you decide 'going back to the board'?
Until you figure out these, doing the Monthly and Weekly support and resistance may not be your starting point.

Let me know.

regards,
EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #25,371
  • Sep 21, 2013 7:08am Sep 21, 2013 7:08am
Quoting Revival
Hey everyone. Really liking the simplicity of this system. I like to trade day charts instead of 4H charts. I really don't want to interrupt my sleep since it really takes a toll on me when I wake up. Anyway, I've been trading demo for a while now and I really like it. Here are some trades I took this week. One was a small winner, and the other one is ongoing. Some critiques or tips would be great. AUD/USD {image} - Kinda took a risk for this one. If I go long I like it if the green line crosses up near the 32 line. But I took it anyway since it...
You can trade once per day any time during the day and not necessarily that you must trade the D chart.
All you need to do is to do your Top Down Analysis starting from MN to W charts and to D chart TF.
Once you know where the PA you can open your trade using lower TfF charts even on M15 when you know exactly the TIMING for your market entry.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #25,372
  • Sep 21, 2013 8:25am Sep 21, 2013 8:25am
Quoting emmanuel7788
{quote} gsbharaj, What exactly is your disaster? And what are the reasons that make you decide 'going back to the board'? Until you figure out these, doing the Monthly and Weekly support and resistance may not be your starting point. Let me know. regards, EMMANUEL
hello emanneul sir,
well i just have one or two good trades but loss on the others. the financial aspect is not the issue. it is the continuation of trading wrong setups. i can tell that i am not trading properly.
now i am planning to start from the scratch. will trade only the 4 hours. 1 hour is difficult as i have another job.
so first i want to start with S&R. did i draw them correctly?
Come tomorrow, I'll wake up new
  • #25,373
  • Sep 21, 2013 8:42am Sep 21, 2013 8:42am
Quoting gsbharaj
{quote} hello emanneul sir, well i just have one or two good trades but loss on the others. the financial aspect is not the issue. it is the continuation of trading wrong setups. i can tell that i am not trading properly. now i am planning to start from the scratch. will trade only the 4 hours. 1 hour is difficult as i have another job. so first i want to start with S&R. did i draw them correctly?
gsbharaj,

just reading what you wrote, I can safely say you wont make it no matter what you do now.

why don't you post your charts with all your trades shown.

Just select then drag and drop the closed trade from your MT4 terminal Account History onto your charts and post your charts here.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #25,374
  • Sep 21, 2013 8:55am Sep 21, 2013 8:55am
Quoting emmanuel7788
Here is an exercise to learn, practice and train your 'third eye' for trading.... {image} be prepared for some weekend exercise ....
Hello Emmanuel, Did you mean this CSP?




Have a nice weekend

Attached Image (click to enlarge)
Click to Enlarge Name: CSP.gif Size: 11 KB
  • #25,375
  • Sep 21, 2013 9:08am Sep 21, 2013 9:08am
these are some of the few trades. other were off the mt4
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 43 KB
Click to Enlarge Name: Screenshot2.png Size: 52 KB
Click to Enlarge Name: Screenshot3.png Size: 44 KB
Click to Enlarge Name: Screenshot4.png Size: 42 KB
Click to Enlarge Name: Screenshot5.png Size: 48 KB
Click to Enlarge Name: Screenshot6.png Size: 41 KB
Come tomorrow, I'll wake up new
  • #25,376
  • Sep 21, 2013 7:08pm Sep 21, 2013 7:08pm
Quoting bythepound
Hi Emmanuel, I really appreciate the continued education and time you put into this thread. I learned about Master Candles from a post you you put up recently about a 15M scalp - since then I have been doing my homework. I see many of your posts have purple horizontal bars at the top/botton of MC. Is this an indicator or are you mannually drawing these lines? You also mention the R-Multiple method for managing TP levels. I am not finding useful links on FF about this. Can you point me in the right direction? Thanks {quote}
Here is a Master Candle indicator, if anyone is interested
Attached File(s)
File Type: mq4 Master_Candle_v2.mq4   5 KB | 655 downloads
  • #25,377
  • Sep 21, 2013 7:56pm Sep 21, 2013 7:56pm
Quoting MeLe
{quote} Here is a Master Candle indicator, if anyone is interested {file}
Thanks!
Without vision, the people will perish.
  • #25,378
  • Sep 21, 2013 8:09pm Sep 21, 2013 8:09pm
Quoting emmanuel7788
{quote} You can trade once per day any time during the day and not necessarily that you must trade the D chart. All you need to do is to do your Top Down Analysis starting from MN to W charts and to D chart TF. Once you know where the PA you can open your trade using lower TfF charts even on M15 when you know exactly the TIMING for your market entry.
I see. So what you're saying is it isn't necessary to only trade during the London session and that trades can be initiated at any time if the price action supports it? Just to clarify, when you say using top down analysis, do you mean use this to guage where price may go? Like if MN + WK + Daily charts are in an uptrend, then you look for long positions on lower time frames?
  • #25,379
  • Sep 22, 2013 12:06am Sep 22, 2013 12:06am
Quoting TheScorpS
{quote} Yes Phx62, answers my question, thanks for you always help, now I specify 1 night a week, I call that Phx62 , where I just study your complied PDFs hoping to catch a rule here and there or may of better be a clone , thanks sir
I hope that I may have shared some things that will benefit you in your quest to become a successful trader.....success to you!!!!
  • #25,380
  • Edited 11:17am Sep 22, 2013 6:39am | Edited 11:17am
EU Week of 22nd September

Last week I was expecting a down move. Due to the week open gap, that changed my view of the market.
Price gapped up, never giving us a short signal. Market was very slow most of the week and finally at FOMC the breakout happened.
now that we created a new impulse leg and break of structure (New Structure High) we should be looking at Long Entries.
There are 2 aspects that are important to emphasize: 10,50 and 200 ema are all below market price and all with good bulish angle.
TDI MBL is near the 68 which indicates that price mght need to take a break from the upmove and retrace to gather more participants to push price higher.
You can take advantage of that drilling down to smaller TF(1H) and taking CT short trades.
I would consider long entries at the zone market in yellow where we might come back to test the previous resistance which might become support.


Last week preview - http://www.forexfactory.com/showthre...41#post6965341
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 129 KB
83 traders viewing now, 2 are registered:
Zen_Leow
,