Trading Made Simple

mt2 nice trade

i have a question have you taken the excel course on Rick's website?

right now im struggling with consistent trading and am looking for a decent course

blam

THIS WAS GPB/CAD

AU stopped out -30 pips.

Starting the week with -70, not good lol.

Just wondering if GBPUSD is getting ready to push higher? It keeps banging at that level, and now we have a pinbar down.

GBPCAD STOPPED OUT +43

Today 2 trade total +71....week start good

hoping these trades pay. Trades taken on H1

Week three of trading the 4 hour from page one:

Open at 6am:

AJ- -45 pips (closed at 10am)

Opened at 10am:

GJ- +35 pips

EN- +18

EJ- +59

UJ- +11

All close at 2pm uk time: Total +78 pips

Checking my computer three times a day

Best of luck

Closed all my trades. Total of 146 pips for the day in 3 trades with 5.7 % return.



Regards

us/cad be

Todays hot ride on EURJPY H1

Seems like this was a short squeeze where lots of traders were on the wrong side, perhaps they expected a new downmove after the two days new lows under the consolidation zone.

Entry @141,55 after LO breaking the FO-OB to the upside. Exited 1/2 pos. at the 2-weeks lasting consolidation zone high with + 35 pips to secure some pips before the news.
Unfortunately the second 1/2 pos. was stopped out only because of a few pips as the news bar spiked down. +1 pip
=> average +18 pips

Reentry some minutes later as the news bar made a new session high above the consolidation zone.
Exited because of we came near to the next resistance zone on D1, we had not much movement the last bars and the TDI PL goes flat in clear oversold area. => +50 pips

Looking now at the chart - that was a good decision - but sh............. - I should've gone short instead of writing this post now.

I shorted EN & GA. If I get stopped out in these trades I'm pretty much done for the week with trading.

I think JP pairs are having a pretty nice pull back, visible even in the daily.

Hi everyone again, it has been quite some time since I last wrote here.

Around two hours ago I went long on aud/usd H1 - first trade with TMS, thought I will share. I closed the trade after ~19 pips contrary to all the signals, but it was the first trade and I don't want to let greed take over. As I'm writing the post the price went over double that high.


I also found a few things that might help. Of course - read John Hayden's "RSI - The Complete Guide", then Dean Malone's "E.A.S.Y. Trading Method" - understand any indicator before using it.

Adjust the tool you are given to your working style - I have been looking at "Trading Made Simple" charts for a week now without trading and I just couldn't see what eelfranz saw, it just didn't feel right. I thought it over the weekend and I think I just don't have enough experience and knowledge to see what is going on on the chart especially since I am not used to HA candles yet, so I re-arranged the template:
- deleted Stochastics - I found some nice divergences with it but they were rare enough to made the chart simpler. If someone found a crucial role for Stochastics in this setup - please let me know, I never got the feel of it.
- put back TDI as described by Dean Malone (changed colours which were set to "None" - right click on TDI->TDI Properties->Colors)
- added smoothed MA "price action channel" as described by Dean Malone (yellow dashed line)
- changed the shift in the original 5MA from 2 to 1

With my template I also thought there were good entries on gbp/usd and usd/jpy H1 at 15:00 GMT+1 and it turned out to be true (didn't take them, though). I also missed a good one at 15:00 GMT+1 on aud/cad H1 (didn't even have the chart open).

The charts now "feel" better. To me. I hope what I wrote helps and people will tinker around with templates before using them, eelfranz's was too simple for me, I needed more of what this method came from to get a hang of it. I thought I'd share my way. I'm also thinking about disabling volatility bands on TDI and changing the shift of the original 5MA to 0 - I can't seem to find a good reason for the bands and I'm not sure why the shift of 5MA is 2 in the original template, if anyone has some thoughts - please let me know.

My modified TMS and the trade I took:

Congrats on the Pips Bizzzle,

Would you mind explaining these trades in more details? It looks as if you got in most of these trades on a bounce. Would you mind giving a detailed explanation of how to look for and trade proper bounce trades. This is a very weak spot in my trading and I have been hoping someone would help me out with this issue. Also you mention you took these trades at 10am. What 10am is this? UK time?

Thanks in advance!

You are correct, some of them were bounce trades!

What I look for on bounce trades is the size of the candles... Go back and have a look at my charts and you will see that they all had momentum!

Also if the 4 hour candle took out the high of the last candle, which means we are making HL, HH on a lower Timeframe!

Momentum is the main reason ( size of candle)

hope that help


All UK time

Outstanding as usual, Bizzzle. But did you open 10am trades @ EURCPI Flash Estimate y/y news or minutes after the spikes settled down?

I opened at 10am uk time.

Did you have wide stop SL? The spikes at that time were pretty vicious.

10am UK time is 5am my time so on 4hr charts I could only get in a 4am 4hr candle my time which would be 9am uk time. Now I know. Did you do these as hr1 chart trades? and thats how you got in at 10am uk time or does your broker 4hr chart fall on 10am uk time?

Stop-loss is set at the previous low or high!