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Monitor for 'Trading Made Simple' system 565 replies

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

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Trading Made Simple

  • #33,881
  • Mar 25, 2014 5:42pm Mar 25, 2014 5:42pm
To you lessons over the last several posts -

Pip what you see; See what you pip!
  • #33,882
  • Mar 25, 2014 5:42pm Mar 25, 2014 5:42pm
Quoting Zoopots
{quote} Well, for example, my favorite pair the AUDJPY H4 has had 7 entries in 2014 that I took, one loser. In 2014 it has had 7 individual runs over 200 pips each...that's what I hope to capture. If I can get 150 pips out of those runs and a S/L of say 70 pips, That's 150 X 6 = 900 - 70 = 830 profit (less spreads). I have found the runs are less in the summer, but lots of pairs slow down then. I don't have 20 pairs I watch...just my favorites. It's a marathon...not a sprint (especially at my age). Some people don't like my strategy because they...
What pairs are you watching? I see a lot of posts with pairs that I never look at, Like Cad/J being successful, however I try to limit myself to G/U, E/J, G/J, A/U, E/A, G/A, and E/U.
War. Is my profession.
  • #33,883
  • Mar 25, 2014 5:50pm Mar 25, 2014 5:50pm
Quoting Zoopots
{quote} First, this isn't a pair I monitor so I'm not real familiar with its personality. I have learned to place a lot of emphasis on the Market Base Line, particularly the slope of the MBL. It gives a somewhat truer representation of the price sentiment (often called trend). We need to realize that the MBL almost always reacts like a drunk driving down the road: He drifts to the left ("68") then gets startled when he hits the gravel and corrects to the center of the highway ("50") but then drifts to the right, hits the gravel again at ("32") gets...

Quoting Zoopots
{quote} Always greater than 68 or less than 32. If it doesn't hit these areas...I move on to something else. I, personally, would not have taken the entry in your picture...the TDI crosses are fighting the MBL, it's a no go. True, you can always find an example like yours that eventually "worked", but you can find tons of them that don't. I just find it easier to K.I.S.S. Zoopots {image} {image}

Quoting Zoopots
{quote} Well, for example, my favorite pair the AUDJPY H4 has had 7 entries in 2014 that I took, one loser. In 2014 it has had 7 individual runs over 200 pips each...that's what I hope to capture. If I can get 150 pips out of those runs and a S/L of say 70 pips, That's 150 X 6 = 900 - 70 = 830 profit (less spreads). I have found the runs are less in the summer, but lots of pairs slow down then. I don't have 20 pairs I watch...just my favorites. It's a marathon...not a sprint (especially at my age). Some people don't like my strategy because they...
Excellent posts by Zoopopts.

Plenty of fresh juice to consume. This is how we can work on and improve the way we trade the 5-Method. Open our minds, and we won't regret the time spent here.

There are many different ways to Keep It Simple, and this is one that has been time tested and will continue in dynamic market conditions because we trade the price momentum.

If I were you, i will make pdf of all these posts and keep them up to date.

Thank you Zoopots.

regards,

EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #33,884
  • Mar 25, 2014 5:56pm Mar 25, 2014 5:56pm
I have just come back to this thread after awhile away, due to problems with loading the indicators and then the learning curve taking a steep incline. I went back to looking at PA and Chris Capre/ Nial Fuller stuff but that was equally as frustrating and mind boggling as when I put these signals to test they work perfectly with open charts showing future movements! However when I think I'm getting my head around it and apply some of the principles to a chart where I can't see the future...I get stung...in fact it is so frustrating I feel as if I'm completely missing some fundamental thing...or maybe someone is watching me on the other end of the trade and making the trade do the opposite from what I thought/learnt it should do. Depressing.
This is the beginning of my journey which also throws up insecurities in the process...and asking for help. But there is no way around it...I need help to learn this TMS method. I've tried to learn it from the threads but like I say it started simple and now there seem to be various different versions. Hopefully some will take pity on me...before I forget about this trading malarky for good and go do something else more suited to my intellect, like throwing a ball against a wall

Anyways...a few images to show my learning. I cannot see where I am going wrong!
With an open chart...I recognise the up/down move which correlates to the TDI cross, and a STOCH cross over.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd-d1-01.png Size: 68 KB


However I could be completely wrong in how I am reading the chart...but when I look at the chart with nothing in front and try to make a decision based on my understanding of TMS [2nd image]
Attached Image


...it goes wrong when I move the chart along![ 3rd pic] in this case most probably stopped out by the Bullish pin bar at x.
Attached Image


But then I go back to looking at future price [4th image] and can see where the signal is. I must be completely missing a piece of the puzzle.
Attached Image (click to enlarge)
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I realise it's not an easy and simple thing and takes a long time to be a trader, but if I am to improve my chances of understanding I recognise I need the help and advice of others who do have experience. I feel I am making too many mistakes on my own.
Thanks
  • #33,885
  • Mar 25, 2014 5:56pm Mar 25, 2014 5:56pm
Currently in my favorite pair, AUDJPY H4. TDI cross long signal confirmed the support area of 61.8 Fib. If it continues to target, it will be the 8th +200 pip move of this pair in 2014, albeit the slowest one yet. It's a no risk position as the S/L is now +130 pips in the green. 9 days to date! Love it!

Note how we should ignore the latest sell TDI cross signal because: 1. I'm in a buy trade, and 2. Price is marching ever so steady up the PAC and 3. The MBL is still headed north.

[attach]1393434[/attach
Attached Image (click to enlarge)
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  • #33,886
  • Mar 25, 2014 6:28pm Mar 25, 2014 6:28pm
great KISS trading bizzle , please keep us posted. that sure does look like easy TMS pipping

Quoting Bizzzle
{quote} Another Great day trading as the thread owner set out for the 4 hour!! Open trades at 10am: EU- +28 EG- +25 EA- +24 EJ- +1 UC- +15 Total = 93 pips Thank you big E for thinking differently to everyone else!! Easy money {image}
  • #33,887
  • Mar 25, 2014 6:36pm Mar 25, 2014 6:36pm
Quoting MartC
However I could be completely wrong in how I am reading the chart...but when I look at the chart with nothing in front and try to make a decision based on my understanding of TMS [2nd image] {image} ...it goes wrong when I move the chart along!
Mart.

There was nothing wrong with your example. It's a valid signal and a valid PA. Here's a naked chart, since you already went through a few PA thread you'll see that this candle is an engulfing/outside bar rejecting BRN 1.3000. Nice candle, nice level.
Attached Image



Important point is, trading is not about being right 100%. Every trade has a chance to become a loser. That's just the way it is. You may find a perfect, text-book set up and it can still lose.

What matter is that, after you have taken 100s of trades, you make more than you lose. That is what every traders out there refer to as an "edge". Everything you do is not to ensure 100% win, but rather, to increase your chance of winning. Try not to care too much about individual trades but focus on your statistic over large amount of trades instead.

This trade for example, if you zoom out a bit you'll see that the pair had been making higher low. It never make any lower low, suggesting the pair has higher chance to go up. Thus lowering your chance of winning a short trade.
Attached Image (click to enlarge)
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Everything you can imagine, is real - Pablo Picasso
  • #33,888
  • Mar 25, 2014 6:42pm Mar 25, 2014 6:42pm
Quoting Direwolf
{quote} Mart. There was nothing wrong with your example. It's a valid signal and a valid PA. Here's a naked chart, since you already went through a few PA thread you'll see that this candle is an engulfing/outside bar rejecting BRN 1.3000. Nice candle, nice level. {image} Important point is, trading is not about being right 100%. Every trade has a chance to become a loser. What matter is that, after you have taken 100s of trades, you make more than you lose. That is what every traders out there refer to as an "edge". Everything you do is not to...
Thanks for the advice. Yep, the difficulty when 1. everything is new, and 2. learning from scratch on your own...is you begin to doubt yourself. Especially when it appears that something should work and then doesn't. I really appreciate your reply as it gives me a little more understanding on things I'm doing are in someway correct.
  • #33,889
  • Mar 25, 2014 6:44pm Mar 25, 2014 6:44pm
Looks like nothing is cooking right now for the next 4hr candle. CJ trade is still in the green but in suspended animation it seems. Cya in 4hrs!
MAY THE PIPS BE WITH YOU!
  • #33,890
  • Mar 25, 2014 7:02pm Mar 25, 2014 7:02pm
Quoting MartC
I have just come back to this thread after awhile away, due to problems with loading the indicators and then the learning curve taking a steep incline. I went back to looking at PA and Chris Capre/ Nial Fuller stuff but that was equally as frustrating and mind boggling as when I put these signals to test they work perfectly with open charts showing future movements! However when I think I'm getting my head around it and apply some of the principles to a chart where I can't see the future...I get stung...in fact it is so frustrating I feel as if...

Hi MartC,

You are not alone in such situation. Trust me, there are many out these but they chose to remain silent.

Many years ago I was in such situation. I went through the transformation and that took some time.

Time to take stock and ask ourselves these questions.

1. Do I know what I don't know?

2. Do I know what I know?

I does require a wide range knowledge and experience to become a successful trader. It will take time, how much time? that depends on the individual learning capacity. I believe in 10,000 hours. (Daniel Coyle - The Talent Code).

Here is FF, we have all kinds of people sharing and contributing. But many of the things we read and learn here, we learn not to follow nor do. You need to read a stage in competence to be able t filter out all the things you learn not to do.

Don't give up. Take your time. Have a structure to follow to develop yourself to become a trader.

I'll PM you later.


regards,

EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #33,891
  • Mar 25, 2014 7:32pm Mar 25, 2014 7:32pm
Quoting Phx62
New H4 channel created.{image} EA H1 target hit.{image}

Hi Phx62,

Thanks for the new channel update. I am still work on the trendline and use Fibo channel to draw those channels.

Awesome H1 trades - 3 trades, and each +78pips, +50pips and +100pips, and only one currency pair. That is truly Keep It Simple shown and tested over ana over again.

Something we can learn is not to overtrade and use our trading capital effectively and not over expose in the market. And very good R:R results, your use of emergency stop loss, lot size and the way you manage your trades is simply great.

Thanks again for sharing.


regards,

EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #33,892
  • Mar 25, 2014 8:30pm Mar 25, 2014 8:30pm
Quoting as33156
Looks like nothing is cooking right now for the next 4hr candle. CJ trade is still in the green but in suspended animation it seems. Cya in 4hrs!

market looks pretty mix and with the three amigos going in different places, it may take a while to get the correlation going again.

only H4 pill back and continuation setups in some.

D charts have some setups, but then market liquidity is in question to move the pairs.

Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #33,893
  • Edited 9:05pm Mar 25, 2014 8:47pm | Edited 9:05pm
Quoting emmanuel7788
{quote} market looks pretty mix and with the three amigos going in different places, it may take a while to get the correlation going again. only H4 pill back and continuation setups in some. D charts have some setups, but then market liquidity is in question to move the pairs.

Hi Emmanuel,

Thanks for the analysis!

If you wouldn't mind would you be so kind when you have the chance to explain and show detailed charts on how to properly spot potential bounce trades, when to enter them (beginning or Ending of candle, and when to avoid them. I'm severely lacking on this part of my trading strategy and maybe some other members are too.

Thanks in advance!
MAY THE PIPS BE WITH YOU!
  • #33,894
  • Mar 25, 2014 8:50pm Mar 25, 2014 8:50pm
EMU. I hope you don't mind my naked PA charts I posted.
Everything you can imagine, is real - Pablo Picasso
  • #33,895
  • Mar 25, 2014 9:12pm Mar 25, 2014 9:12pm
Quoting as33156
{quote} Hi Emmanuel, Thanks for the analysis! If you wouldn't mind would you be so kind when you have the chance to explain and show detailed charts on how to properly spot potential bounce trades, when to enter them (beginning or Ending of candle, and when to avoid them. I'm severely lacking on this part of my trading strategy and maybe some other members are too. Thanks in advance!

Hi as33156,

Okay, will do so when I get back to my computer later. Now waiting for my wood fired pizza at lunch and few Italian traders friends.

cheers!
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #33,896
  • Mar 25, 2014 9:14pm Mar 25, 2014 9:14pm
Quoting Direwolf
EMU. I hope you don't mind my naked PA charts I posted.

Direwolf,

I love naked charts because they show lot of information where buyers and sellers were and where they really are waiting.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #33,897
  • Mar 25, 2014 10:16pm Mar 25, 2014 10:16pm
Quoting as33156
{quote} Hi Emmanuel, Thanks for the analysis! If you wouldn't mind would you be so kind when you have the chance to explain and show detailed charts on how to properly spot potential bounce trades, when to enter them (beginning or Ending of candle, and when to avoid them. I'm severely lacking on this part of my trading strategy and maybe some other members are too. Thanks in advance!
I would find this info very useful too, as I lack knowledge in bounce trades. please do share. Thanks
  • #33,898
  • Mar 25, 2014 11:09pm Mar 25, 2014 11:09pm
2200 PDT update to my three positions:

AUDJPY S/L moved up to 93.30 well into profit; if stopped out will gain +160 pips; TDI now overbought; (Post 33,896)
Attached Image (click to enlarge)
Click to Enlarge Name: ScreenHunter_04 25-Mar 21.04.jpg Size: 126 KB

CADJPY S/L moved to 91.30 (trailing PAC); if stopped out gain will be +30; TDI now overbought; (Post 33,871)
Attached Image (click to enlarge)
Click to Enlarge Name: ScreenHunter_03 25-Mar 20.54.jpg Size: 116 KB

USDCAD S/L moved to 1.1198 (trailing PAC), if stopped out gain will be +50; TDI now oversold; (Post 33,871)
Attached Image


Management of trades in place for the next four hours...time to hit the hay.

The drunk has his wheels in the gravel on these pairs...we'll see if he corrects back to the center of the road! (Post 33,883)

Good luck to all.......
  • #33,899
  • Mar 25, 2014 11:29pm Mar 25, 2014 11:29pm
This ranging/consolidation on Yen crosses is getting a bit old now!
  • #33,900
  • Mar 25, 2014 11:53pm Mar 25, 2014 11:53pm
Quoting irishtoffy
This ranging/consolidation on Yen crosses is getting a bit old now!
I 2nd that! This market is really pissing me off the last few days. My GA trade from last week is about to hit 300 pips in profit soon. I wish I would have stayed in. I only to see if I can get in a few good 1hr cross next when the 4hr candle appears.

This is like watching Paint Dry or Grass Grow
MAY THE PIPS BE WITH YOU!
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