Trading Made Simple | Page 1529 | 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

  • #30,561
  • Feb 9, 2014 9:24am Feb 9, 2014 9:24am
Quoting attilafx
AUD/USD. Those pinbars doesn't look to good. Wouldn't be surprised if we got a pullback in Aussie. {image}
Fellas you really need to learn what a pinbar is, you can't just throw that name on any candle with a wick.

Quoting shellsnail
{quote} possible, or this? my view is, if it's 50-50 then don't trade; it's usually right to follow the daily trend, until it isn't. consolidation + counter-trend breakout is one of those scenarios in which trend trades should wait. {image} {image}
This is a very, very, very bad idea.... You are predicting where price will go next.. Nobody knows that, I strongly advise you not to bias yourself this way, because you may miss out on a trade or worse, enter in the wrong direction and hold onto your position longer than you should because you have set a bias for yourself.
  • #30,562
  • Feb 9, 2014 9:26am Feb 9, 2014 9:26am
Quoting WDays
{quote} Fellas you really need to learn what a pinbar is, you can't just throw that name on any candle with a wick. {quote} This is a very, very, very bad idea.... You are predicting where price will go next.. Nobody knows that, I strongly advise you not to bias yourself this way, because you may miss out on a trade or worse, enter in the wrong direction and hold onto your position longer than you should because you have set a bias for yourself.
Anyone reading the posts will know I am not trying to predict price. In fact I made it clear that no one can do so, who knows?

What traders do is to create trade ideas and when price does what you had expected in those ideas then you follow through with the ideas and if they work out great, if not move on. Most of the time we want to trade with the trend, so we come up with trade ideas like buy or sell on retrace with stops at XYZ price etc. That is trading - you need to have a bias based on the price action/ charts, or else you will be trying to board the bus on both sides of the road, end result is you get killed - so I have no idea what you are talking about.

If I have a neutral bias means I don't trade the pair, as simple as that. I don't mind missing opportunities that are inferior. However you define that word depends on your system, but every system needs filters to sort out the good potentials and the bad ones.
Build good relationships with others.
  • #30,563
  • Feb 9, 2014 9:29am Feb 9, 2014 9:29am
Quoting shellsnail
{quote} Anyone reading the posts will know I am not trying to predict price. In fact I made it clear that no one can do so, who knows? What traders do is to create trade ideas and when price does what you had expected in those ideas then you follow through with the ideas and if they work out great, if not move on. Most of the time we want to trade with the trend, so we come up with trade ideas like buy or sell on retrace with stops at XYZ price etc. That is trading - you need to have a bias based on the price action/ charts, or else you will be...
What you're claiming is a possible scenario is almost entirely based on random stuff. People who do this type of analysis use harmonics and confluences to "create trade ideas" Have a look at this thread and you will know what I mean http://www.forexfactory.com/showthread.php?t=402253

How long have you been trading if you don't mind me asking?
  • #30,564
  • Edited 9:56am Feb 9, 2014 9:31am | Edited 9:56am
Quoting WDays
{quote} What you're claiming is a possible scenario is almost entirely based on random stuff. People who do this type of analysis use harmonics and confluences to "create trade ideas" Have a look at this thread and you will know what I mean http://www.forexfactory.com/showthread.php?t=402253 How long have you been trading if you don't mind me asking?
It's may be random to you, but it isn't to me. More than 8000 hours screentime + study.

Trade well.

P.S. the hard truth is that the market doesn't care what the basis of your idea is. You can be buying/selling on a coin flip, it doesn't matter. We think we see patterns but maybe there aren't any. Harmonic patterns traded on its own without consideration of confluence have been proven to be unprofitable when you take into account the winning % and RR. My analysis involves technical, price action, fibonacci ratios, volume - just because I didn't spell out every bit of it on the chart doesn't mean it is not there.

Caveat: as long as you are trading with the daily trend and stay on the larger time frames, you will be profitable with just a simple system.
Build good relationships with others.
  • #30,565
  • Feb 9, 2014 9:37am Feb 9, 2014 9:37am
Quoting shellsnail
{quote} It's may be random to you, but it isn't to me lol. More than 8000 hours screentime + study. Trade well.
Hope it works out for you then
  • #30,566
  • Feb 9, 2014 9:55am Feb 9, 2014 9:55am
Quoting omonisha
Hi Everyone Can any one suggest me a link or PDF or post to learn price action for this weekend. Regards omonisha
I found this really useful when I was learning PA trading.
Attached File(s)
File Type: pdf STRATS PASR.pdf   2.2 MB | 1,363 downloads
  • #30,567
  • Feb 9, 2014 12:39pm Feb 9, 2014 12:39pm
HI

is it a 1 2 3 pattern?
Attached Image (click to enlarge)
Click to Enlarge Name: Image2.jpeg Size: 67 KB
Sad i'm not trying to understand PA
  • #30,568
  • Feb 9, 2014 12:40pm Feb 9, 2014 12:40pm
Quoting emmanuel7788
{quote} BataviaTrade: The clue is on your chart posted. Just count back 5,6 and 7 candles from your entry candle, Look at those candle with long upper and lower shadows, and also large range candles. If you are trading lower timeframes for example M15 or M5, you need to make some adaptions to this H4 method. Many traders here have made their own adaptions for H1 trading. The simple use of the APB/HA and the TDI Green Red will not be sufficient for scalping in M15/M5. The Price Action Channel PAC is useful and I recommend that you consider using...
hi [highlight=rgb(244, 246, 249); color:rgb(0, 0, 0); font-family:verdana,helvetica,sans-serif]EMMANUEL,[/highlight]

[highlight=rgb(244, 246, 249)]Thank, that is certainly useful! I will study this video more in-dept and will go back to the drawing table to read up more ins and outs for lower TF's.[/highlight]

[highlight=rgb(244, 246, 249); color:rgb(0, 0, 0); font-family:verdana,helvetica,sans-serif]Have a nice weekend![/highlight]

[highlight=rgb(244, 246, 249); color:rgb(0, 0, 0); font-family:verdana,helvetica,sans-serif]BT[/highlight]
  • #30,569
  • Feb 9, 2014 1:00pm Feb 9, 2014 1:00pm
Quoting omonisha
HI is it a 1 2 3 pattern? {image}
Seems like it
  • #30,570
  • Feb 9, 2014 1:09pm Feb 9, 2014 1:09pm
Quoting WDays
{quote} Do you mean the Price Action Channel (PAC) ? It's 2 smoothed 5 period MAs set to high and to low... You can look up Dean Malone's SYNERGY method for more info.
Thanks, I've found some very interesting stuff
  • #30,571
  • Feb 9, 2014 1:40pm Feb 9, 2014 1:40pm
Quoting WDays
{quote} Seems like it
Many thanks...WDays ....
Sad i'm not trying to understand PA
  • #30,572
  • Feb 9, 2014 2:44pm Feb 9, 2014 2:44pm
Quoting omonisha
HI is it a 1 2 3 pattern? {image}
I would say that your 3 is your 2 and your 3 would be similar to the 1 in length. I used to use 123 but since watching Rick aka dcignic I now look at it as ABCD. Hope this image helps.
http://charts.mql5.com/3/836/euraud-...i-uk-ltd-2.png
  • #30,573
  • Feb 9, 2014 2:48pm Feb 9, 2014 2:48pm
Quoting adamjhdavis
{quote} I would say that your 3 is your 2 and your 3 would be similar to the 1 in length. I used to use 123 but since watching Rick aka dcignic I now look at it as ABCD. Hope this image helps. {image}
To me a 123 is nothing more than a higher swing low in a downtrend and the opposite for when we're in an uptrend.... It shows bear (or reciprocally bull) weakness and hints towards a correction in the other direction. I don't like to complicate my life with patterns, fibos, ratios and what not...
  • #30,574
  • Feb 9, 2014 4:03pm Feb 9, 2014 4:03pm
Quoting WDays
{quote} To me a 123 is nothing more than a higher swing low in a downtrend and the opposite for when we're in an uptrend.... It shows bear (or reciprocally bull) weakness and hints towards a correction in the other direction. I don't like to complicate my life with patterns, fibos, ratios and what not...
Fair enough each to their own I'm just sharing my opinion.
  • #30,575
  • Feb 9, 2014 4:07pm Feb 9, 2014 4:07pm
Quoting adamjhdavis
{quote} Fair enough each to their own I'm just sharing my opinion.
Oh yeah don't get me wrong, I was just sharing mine, not saying you aren't right
  • #30,576
  • Feb 9, 2014 4:14pm Feb 9, 2014 4:14pm
Quoting WDays
{quote} Oh yeah don't get me wrong, I was just sharing mine, not saying you aren't right
Have a good week
  • #30,577
  • Feb 9, 2014 5:13pm Feb 9, 2014 5:13pm
Quoting adamjhdavis
{quote} I would say that your 3 is your 2 and your 3 would be similar to the 1 in length. I used to use 123 but since watching Rick aka dcignic I now look at it as ABCD. Hope this image helps. {image}
I have a lot of time for Rick's analysis and the ABCD patterns make a lot of sense
"To live with Passion, it takes Courage and Grace to survive"
  • #30,578
  • Edited 7:25pm Feb 9, 2014 7:01pm | Edited 7:25pm
Very good discussions on 1-2-3 and ABCD chart patterns.
The fact is some of these 3-waves corrections are nicer when we see them while others are not so nice.
But we should see an impulse wave before any corrective wave structure. Sometimes the correction is prolonged and we se too many candles between each of the 3-waves.
Just last week I received a tutorial sent via weekly emails and I thought I share my thoughts here below.

Attached Image (click to enlarge)
Click to Enlarge Name: EA 3-wave example.png Size: 49 KB


Attached Image (click to enlarge)
Click to Enlarge Name: 3-wave traps.png Size: 162 KB


The thing great about trading with TMS as the method, we have the two major components = the APB/HA and the TDI. Both these are there to help us view the price action and confirmation. This will reduce the subjectivity in interpretating these 3-waves corrections. Beware of those traps when trading the breakouts using the 3-waves. This is where having a higher timeframe bias will help us to be looking at options and stay on the right side.

Trade Well.


EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #30,579
  • Edited 11:04pm Feb 9, 2014 7:38pm | Edited 11:04pm
Quoting shellsnail
{quote} Hey thanks for the pdf, good read. Like you, I am having doubts about an up-move on the pair because AUD is very strong. Seems to me it'll likely consolidate at this current price region before breaking down. That said, a long trade here in line with the daily and weekly trend is pretty good with a solid potential of 370+ pips minimum to the upside, as long as you apply a time stop (4 days or so) to the trade. Basically 2 tradeable scenarios: 1. Price consolidates in this zone and breaks down, perhaps hitting the 38/50% retracement of the...

Hi shellsnail,

You are welcome and thanks for posting and sharing your thoughts here.
AUD is showing some renew market interest hence AUDUSD is a pair to watch.

Overall, the USDX has been under many weeks of contraction and we wait and see when it will breakaway again.When this happens, we shall see how the EUR crosses will trade, perhaps increase in their trading ranges.

Good Trading.

EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #30,580
  • Feb 9, 2014 8:35pm Feb 9, 2014 8:35pm
What do you think about this pull back candle on EA H1?
Attached Image
Everything you can imagine, is real - Pablo Picasso
57 traders viewing now, 1 is registered:
kola.bear020