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

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Trading Made Simple

Quoting Erol
{quote} This is my take on the GBPUSD, the transition phase and change of market type. TDI exhibits HH's and has moved into a Bullish Range (>60) indicating an uptrend on H4 but D1 still bearish (<60) indicating a downard trend. MBL has now switched to below the 40 level PA Exhibits LH's Regards, Erol {image} The complete Guide to RSI is really opening my eyes to the interaction between the TDI & PA from just watching this pair!
Hi Erol,

Good detailed analysis and plan worked out.
Remember ... CONSISTENCY is very important, therefore maintaining a consistent approach is very important. It is not about being right. We trade what we see on our charts and that form our beliefs of the market.

As Dr Van Tharp put it: "We do not trade the markets. We trade our beliefs about the markets."
Attached short pdf for reading on transformation.

I traded GU following the TMS basic entry rule and seeing the Price Action.
There is a potential for a market type change when Tokyo session yesterday so I see that as a good potential trade. Yesterday UK data supported GBP strength and we need to see if this will hold today and tomorrow. There is not PA to confirm a reversal yet but D1 is looking nice for Day chart traders. We must watch if GU will go into wide range sideways.

Attached Image (click to enlarge)
Click to Enlarge Name: GU week 45 H4 trade.png Size: 31 KB


Good Trading this week!
Attached File(s)
File Type: pdf matrix-mini-book-van-tharp.pdf   576 KB | 1,166 downloads
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
Quoting Bizzzle
{quote} GU The MBL is below 32 so we can expect a reversal there also divergence on 4 hour and daily and a double bottom! I will wait for first pull back on the 4 hour and when green crosses red and yellow looking for 1.6400! {image} {image}

Hi Bizzle,

The previous D close bullish so we are bullish bias today for intraday.
Note also that the D is now inside the 5SSMA PAC and between RN range 1.6050 and 1.5950, when we see PA move out of the PAC, we will follow the PA when that continues.
Weekly view, 1.6200 has been a show stopper for weeks. We shall see how fundamentals will decide if GU will move above this level.

Thank you for your active participation and sharing in the thread. Some good lessons for me when reading your posts and charts.

Good Trading going forward.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
Quoting Tiggrrr
USD/CAD = Short What do you guys think ? TDI about to cross. LH has been reached. {image}

take a look at 2012 high ...and also RN 1.0450
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
Quoting thomi
{quote} played well I do the same trade :-) {image}
Hi Thomi,

Good H1 trade. My favourite intraday TOK_5H breakout entry.

regards,
EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
Quoting emmanuel7788
{quote} take a look at 2012 high ...and also RN 1.0450


Nice! Thanks sir!

BTW. Can someone explain to me MLB ? Is MLB the yellow band ?
Take what the market gives you.
Quoting Tiggrrr
{quote} Nice! Thanks sir! BTW. Can someone explain to me MLB ? Is MLB the yellow band ?
MBL (yellow line) gives a view of the overall trend. If the PL (green line) is greater than the MBL, then you should only consider long trades. If the PL is less than the MBL, you should only consider short trades. Check out this .pdf i attached, and scroll down to the TDI section, it gives a simple explanation.
Attached File(s)
File Type: pdf TDI_1.pdf   254 KB | 1,358 downloads
Quoting emmanuel7788
{quote} Hi Erol, Good detailed analysis and plan worked out. Remember ... CONSISTENCY is very important, therefore maintaining a consistent approach is very important. It is not about being right. We trade what we see on our charts and that form our beliefs of the market. As Dr Van Tharp put it: "We do not trade the markets. We trade our beliefs about the markets." Attached short pdf for reading on transformation. I traded GU following the TMS basic entry rule and seeing the Price Action. There is a potential for a market type change when Tokyo...
Thanks Emmanuel,

Consistent approach noted - will be spending the time to focus on building this into my system over the next few days. I have been thinking about this aspect a bit lately and have come to the conclusion that I will be focusing on a two currency pairs to get me back into the rhythm of the market and away from a state of analysis paralysis.

Thanks for the PDF. Got the book a month or two back but to be honest I haven't made the time to read much of it - off to London today to visit family so will have more than enough down time to take the time to read it.

See you all after the weekend - good luck and hope you have a great week.

E
Beautiful EURUSD set up

1. TDI cross on MBL
2. Cross confirmed on 1st HA candle close.
3. Price closed above 5 ema.
4. Stochs pointing up.

a nice little double bottom has formed two on a big trend line(sorry it wasn't drawn).

Attached Image (click to enlarge)
Click to Enlarge Name: Screen Shot 2013-11-05 at 10.12.58 PM.png Size: 194 KB
The Meek Shall Inherit The Earth...
Quoting thrax
{quote} ...GBPUSD H4 TF there was a bullish TDI cross BELOW the MBL and the MBL still heading down. Perhaps I have a very cautios approach but this is not the best setup for me, but some with higher risk appetite could aim the 1.60750 area.
I was to cautious , the 1.60750 area was easily reached.

Short USDCHF H4 trade:
1. Steep TDI cross below the MBL
2. MBL is above 68, starting to flatten
3. Price is outside the STARC outer band
4. Bearish divergence
5. HA candle colour change

I am long on EU H4,

1. nice bullish TDI cross on the MBL
2 at the lower STARC band and
3. bullish HA.

take care,
thrax
Attached Image(s) (click to enlarge)
Click to Enlarge Name: USDCHF_H4_strategy name_20131106000310.gif Size: 32 KB
Click to Enlarge Name: EURUSD_H4_strategy name_20131106000439.gif Size: 32 KB
Quick scalp some pips on EJ today
Attached Image (click to enlarge)
Click to Enlarge Name: 11-6-2013 11-01-32 AM.png Size: 28 KB
Quoting thrax
{quote} I was to cautious , the 1.60750 area was easily reached. Short USDCHF H4 trade: 1. Steep TDI cross below the MBL 2. MBL is above 68, starting to flatten 3. Price is outside the STARC outer band 4. Bearish divergence 5. HA candle colour change I am long on EU H4, 1. nice bullish TDI cross on the MBL 2 at the lower STARC band and 3. bullish HA. take care, thrax {image} {image}

hello thrax!

can you please share your STARC band indicator ? the one uploaded in the "files" section doesnt look like yours.
Take what the market gives you.
Took this trade today morning , bullish engulfing candle, pa made new structure high looking left, so pa might retrace a little and continue making new structure high reaching a completion of an AB=CD pattern , didn't manage TP quietly as good, exit the trade with + 20 pips

Now PA is falling to make new structure high looking left, and theres a bat pattern completion zone, so am waiting to see if pa give a signal to go short, still waiting tho, no confirmation yet

This is just newbie analysis, might be right or wrong, pls don't take my analysis and short EJ at the moment

I attached the H1 chart, and what I saw on the 4H chart to take the trade, I checked all the time frames before initiating the trade from Daily down to even 5 minutes and followed 4H as the big boss for entry long on the H1

The Yellow line below my entry is daily trend line acting as support
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 1h.jpg Size: 368 KB
Click to Enlarge Name: 4h.jpg Size: 370 KB
I Have Learned to Take Some Losses to Make Profits
Hi ,

I have gone through thread and impressed with the original method of Big E. Now I have started trading this method on micro account. I have just taken two long trades on EURUSD and EURJPY which is showing strong TDI angle, Strong TDI revarsal signal, strong PA with confirmation of stochastic.

Please give your view for this two trade.
Thanks
Manoj
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurjpyh4.png Size: 67 KB
Click to Enlarge Name: eurusdh4.png Size: 64 KB
Quoting Tiggrrr
{quote} hello thrax! can you please share your STARC band indicator ? the one uploaded in the "files" section doesnt look like yours.
The name of the indicator is Moving Average Dynamic Envelope, it is practically the STARC, with different name.

thrax
Attached File(s)
File Type: ex4 Moving Average Dynamic Envelope.ex4   4 KB | 392 downloads
File Type: mq4 Moving Average Dynamic Envelope.mq4   3 KB | 442 downloads
Quoting thrax
{quote} The name of the indicator is Moving Average Dynamic Envelope, it is practically the STARC, with different name. thrax {file} {file}

Hmm. The one seen on your chart has 5 moving averages. On my chart it is only showing 3.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 47 KB
Take what the market gives you.
EU and GU 6 Oct:

GU rally continues.

EU hesitates while pending data release.

I see some folks traded the last H4 TDI cross and that looks tempting. That was not a A+++ setup as market is in consolidation and the Price trend and the TDI trend are not in synergy or harmony with one another.
Weekly shows a very strong down last week and with little retracement which mean strong trend down still intact.
Yesterday Day was bearish too and also an Inside Bar of Monday' candle. This is sign of consolidation so we must be more picky when we look at H4 and to pick the high probability setups only.

PATIENCE .... is key to open the door to success.

Let the market show 'hand first', there is no REVERSAL so we must wait and then we trade the CONTINUATION. ..Remember post#261.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
GU week 45 H4 trade update:

Moved my protective stop trailing using PAC.
Push final TP higher and looking for PA to add-on positions.

Attached Image (click to enlarge)
Click to Enlarge Name: GU week 45 H4 trade update.png Size: 29 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
AU 6 Oct LO+2 hrs GMT1000

There is a Master Candle seen on H4. But is there stimulus for a bullish breakout?
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
EJ- longer term we are at the bottom of channel and if holds looking for the top at 142.000.

1hr We are making lower highs and green crossed over red and yellow and has pulled back.

LO we had a possible fakey candle which might have made the Low of the day!

Time will tell good luck
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EJ D 6th.png Size: 71 KB
Click to Enlarge Name: EJ 1HR 6TH.png Size: 58 KB
Give yourself a chance and trade it like it's layed out...
Quoting Tiggrrr
{quote} Hmm. The one seen on your chart has 5 moving averages. On my chart it is only showing 3. {image}
Because you should apply the indicator 2 times.

thrax
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