Trading Made Simple | Page 1878 | 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

  • #37,541
  • May 15, 2014 9:48am May 15, 2014 9:48am
Quoting timginter
{quote}Is there any particular reason you mainly trade H1? ....
That's one reason why I like to trade on H1
I do not know, what happened - but it seems that we saw a kind of short squeeze - lots of people were on the shortside - because of that very quick move to the upside through a previous support.

=> +72 pips
Attached Image (click to enlarge)
Click to Enlarge Name: 2014-05-15 16.30 EURAUD H1 - profit.png Size: 76 KB
fxFox (all times in my charts are GMT+1)
  • #37,542
  • May 15, 2014 10:03am May 15, 2014 10:03am
Quoting stevepatt
{quote} Your observation about H4 charts, from a few years ago, being like H1 charts today shows how the market has changed. When I've been looking back over old charts I've found the same thing, H4 charts where running a lot smoother and for longer than they do today on average. The Average Daily Range (ADR) changes year on year and this is the reason we can never become complacent about our trading the markets keep evolving and we must do the same to keep up. I've found you need to do far more work to find good setups today.
Exactly my impression, much more patience and better analysis required for H4. When H4 goes as per TMS the results are great, but I find it more often making a cross and consolidate after first candle (though Bizzzle constantly proves me wrong in this ). I just do not feel confident, I hesitate with the entry even after backtesting... H1 at the same time does nice 3 or 4 candle run with a clear cross. Looking at H4, but entering on H1 signals is pretty much trading H1.
Emmanuel answered me some time ago that "timeframe does not matter" and I didn't get what he meant back then. Now it seems to make sense - the price goes up and down the same on all timeframes - I can always leave H1 trade run for longer as if on H4 if it looks sound

Quoting fxFox.mb
{quote} I like the way phx62 is trading and I studied a lot of his valuable posts. It's just a kind of gut feeling - I currently feel more familiar on H1 than with TMS on H4. That depends on the trade size, needed stop loss level, trade target, open trades in parallel, and so on ... I can concentrate on less pairs than looking on H4, to get the same pips amount, because the higher the TF the less trading chances the TF offers.
Thanks for reply, I have a similar feeling on H1 - feel more in tune, especially when the market is choppy. And phx62 tempted me with H1 for a long time now, too His charts and posts are always a good read


- NY open (like eelfranz mentioned) and AUDCHF comes back: TDI from oversold, red and MBL started to turn. Still, counter trend so I left it only until 63EMA
Attached Image


EDIT:
Quoting fxFox.mb
{quote} That's one reason why I like to trade on H1 I do not know, what happened - but it seems that we saw a kind of short squeeze - lots of people were on the shortside - because of that very quick move to the upside through a previous support. => +72 pips {image}
Nice Huge thanks for descriptions on the chart!
  • #37,543
  • Edited 2:12pm May 15, 2014 10:27am | Edited 2:12pm
Quoting fxFox.mb
{quote} That's one reason why I like to trade on H1 I do not know, what happened - but it seems that we saw a kind of short squeeze - lots of people were on the shortside - because of that very quick move to the upside through a previous support. => +72 pips {image}

If i remember phx62 mentioned we may find 2 time TDI cross or bounce during London and New York session...
Attached Image (click to enlarge)
Click to Enlarge Name: Image 122.png Size: 55 KB
Sad i'm not trying to understand PA
  • #37,544
  • May 15, 2014 11:11am May 15, 2014 11:11am
Quoting nsscott
{quote} Hi Lastingwell, Why/how do you have hourly on the 30 minute time (0430) Thanks, Scott
I was showing where I went in the trade and what each timeframe looked like at the time.
  • #37,545
  • May 15, 2014 12:37pm May 15, 2014 12:37pm
I have tried these with small amount of margin. I know TDI red green didn't cross but they are below the MBL and MBL is around the overbought area. CHF can take the momentum.

http://i.imgur.com/afER72p.png

http://i.imgur.com/RbbOsHf.png

http://i.imgur.com/KwLqmPS.png
  • #37,546
  • May 15, 2014 1:06pm May 15, 2014 1:06pm
Quoting stevepatt
{quote} Your observation about H4 charts, from a few years ago, being like H1 charts today shows how the market has changed. When I've been looking back over old charts I've found the same thing, H4 charts where running a lot smoother and for longer than they do today on average. The Average Daily Range (ADR) changes year on year and this is the reason we can never become complacent about our trading the markets keep evolving and we must do the same to keep up. I've found you need to do far more work to find good setups today. I might be waiting...

The markets have changed Guys. I understand forex trading volumes are down something like 40%. Why? Maybe something to do with the current investigations into the forex markets, who knows. Silver too has its problems.

Following a crackdown on precious metal manipulation by various European regulators (mostly Germany's BaFin, recall "Precious Metals Manipulation Worse Than Libor Scandal, German Regulator Says"), which led to the shocking outcome that Deutsche Bank would pull out of the London gold and silver fixing committees, the London Silver Market Fixing company ended up with a most curious outcome: it would have just two members: HSBC and Bank of Nova Scotia. And, as an even more shocking result, overnight the London Silver Fix announced that after August 14, 2014 it will no longer exist - the first of many victories for all those who have fought for fair and unmanipulated precious metal markets.

Also, take a look at the ADR's on currency pairs. These are down, nothing like they what they used to be when Big E was trading. This tells you that the markets aren't trending as they used to. That's why H4 trades are harder. You get in and either the trade doesn't continue very far or it reverses on you. The moves are smaller before they reveres or stall. So what can we do? We have to deal with the markets as they are not as we'd like them to be. I can think of a couple of things. One, drop down a time-frame, H4 to H1. H1 traders to M30. I know M15 traders who are complaining about the same problem, that the trades as often as not don't run on the way they used to. These traders have had to drop down to 5m time-frame to find more set-ups and go for less pips but trade more often. A very good scalper I know made 372 pips last night using the TDI and one other indicator on 15m and 5m timeframes. I wish I was a fraction as good. Not that I'm suggesting people trade that timeframe as I know this thread looks primarily at 1H and 4H, just saying what's possible. The other thing I can suggest that is essential to get more pips is to go for pairs with higher ADR's. Here's six to consider. EUR/AUD, EUR/CAD, EUR/JPY, GBP/AUD, GBP/CAD and GBP/JPY, though the £ pairs do have a higher spread.
  • #37,547
  • May 15, 2014 1:46pm May 15, 2014 1:46pm
Quoting lastingwell
{quote}I was showing where I went in the trade and what each timeframe looked like at the time.
Ok, I get that but is your broker in a "half hour time zone'? When I put up a crosshair on my chart with an H1 chart, i only see the hour i am in, not the 30 minute interval. Clear?

Thanks!
  • #37,548
  • May 15, 2014 2:53pm May 15, 2014 2:53pm
Quoting nsscott
{quote} Ok, I get that but is your broker in a "half hour time zone'? When I put up a crosshair on my chart with an H1 chart, i only see the hour i am in, not the 30 minute interval. Clear? Thanks!
No, if you're on the m15 chart when you put the vertical line on the chart, then change the timeframe to the h1 and h4 the vertical line will still say the same thing as mine did.
  • #37,549
  • May 15, 2014 3:14pm May 15, 2014 3:14pm
Quoting omonisha
{quote} If i remember phx62 mentioned we may find 2 time TDI cross or bounce during London and New York session... {image}
Yes that's in most cases correct.
But as you can see not every cross leads to a significant move. The outcome still depends on the trend in general and the S/Rs
Attached Image (click to enlarge)
Click to Enlarge Name: 2014-05-15 22.10 EURAUD H1- status.png Size: 79 KB
fxFox (all times in my charts are GMT+1)
  • #37,550
  • May 15, 2014 4:25pm May 15, 2014 4:25pm
Quoting jimmynoodles
{quote} Hi guys, Thanks for this great thread. I noticed that there are many great coders and people who want to help here so I thought I would run an idea by you guys (especially emmanuel). I have noticed that if the number of same colour HA candles goes anywhere above 20 (on any timeframes really) then there is a high probability of a reversal entry using the TDI cross entry. To show what I mean see on the 4Hr USD/CAD chart below we had a run of 25 consecutive HA candles marked by the thick white line, followed by a nice reversal. {image} I wonder...
where you can give this indicator?
  • #37,551
  • May 15, 2014 5:03pm May 15, 2014 5:03pm
Quoting Phx62
Another quick 100 pips this afternoon on a bounce of the green RSI price line off the red Trade Signal line and a cross of the RSI over the yellow Market Base line. Entry was made after price also broke back above the low of last week (solid light yellow line on chart) after breaking down through it earlier this morning. A very easy trade with very little pullback (not even any closed red candles on M15). {image}
Hello
where can i download dashboard m1, m5, m15, m30, h1, h4, d1?

thanks
  • #37,552
  • May 15, 2014 7:38pm May 15, 2014 7:38pm
Quoting stevepatt
{quote} The image below shows how I would have entered these trades. {image}
Excellent post - a perfect way to use Stop orders - thank you!
  • #37,553
  • May 15, 2014 10:43pm May 15, 2014 10:43pm
Quoting Kanderpro
{quote} Hello lastingwell, Thanks for trying to sort this out for me. Yes, I did delete the mq4 files (all of them) I had in the data folder/mql/indicators, but I've still got an empty window when I try to put TDI-MTFv1.03 on my chart. I had an option to retain pre-600 MT4 builds with my previous broker, which I did, so I didn't take much notice of the big discussions going on at the time of the release of the 600 builds. Now of course, with a new broker and a 600+ build, I need to know. I also can't find a Synergy_APB(2)_ind_window indicator to...
Kanderpro Hi hope you are sorted but if not this is what I do
as well as loading indicators into the Data Folder I also load them into... computer ..Program Files ( x86 ) select your own Broker ... click the MQL4 File ...
indicators... load you indicators ....but if you need to load a template go back to MQL4 and see templates tag... there is where you need to put your templates

hope that helps I am no expert so others may have other ways
cheers
  • #37,554
  • May 15, 2014 11:38pm May 15, 2014 11:38pm
GBPNZD week20 H4 trade 15May:

Here is a trade taken around a Historical Price Swing Level.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPNZD week20 H4 trade 15May.png Size: 39 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #37,555
  • May 15, 2014 11:58pm May 15, 2014 11:58pm
Quoting Tanglewood
{quote} The markets have changed Guys. I understand forex trading volumes are down something like 40%. Why? Maybe something to do with the current investigations into the forex markets, who knows. Silver too has its problems. Following a crackdown on precious metal manipulation by various European regulators (mostly Germany's BaFin, recall "Precious Metals Manipulation Worse Than Libor Scandal, German Regulator Says"), which led to the shocking outcome that Deutsche Bank would pull out of the London gold and silver fixing committees, the London...
Hi Tanglewood,

This is why, I think, if Eric was still trading, today, he would of had to adapt his system to keep it working effectively. It.s just a shame he's not still around to share his wisdom.

I'm not saying that trading, purely, as per page one won't work but it won't be as effective as it was when Eric started this thread.

Even Bizzzle has adapted his trading to incorporate the Market Base Line (MBL) Post 37,486 and the two trades highlighted are in line with the D1 TF and not just Green crossing Red.

Bizzle I hope you don't mind me highlighting your trades and if I'm missing something please let me know.
  • #37,556
  • May 16, 2014 12:11am May 16, 2014 12:11am
Quoting stevepatt
{quote} Hi Tanglewood, This is why, I think, if Eric was still trading, today, he would of had to adapt his system to keep it working effectively. It.s just a shame he's not still around to share his wisdom. I'm not saying that trading, purely, as per page one won't work but it won't be as effective as it was when Eric started this thread. Even Bizzzle has adapted his trading to incorporate the Market Base Line (MBL) Post 37,486 and the two trades highlighted are in line...

Hi Steve,

I fuly agree with you that if Eric is alive and trading today, he would have shared with us how TMS evolves as the market is dynamic.
The market condition has definitley changed. The volatility and liquidity have changed significantly and we can no longer get those pre-2010 weekly ranges for the majors pairs anymore. Therefore the R and R-Multiple methods and Positioning Sizing strategy is still a major thing to create the edge for our winning system.
Someone closest to Eric is Snarlyjack back to the pioneer years together with him and I link you back to his post#26,474.
http://www.forexfactory.com/showthre...28#post7031228

TMS 5-Method has evolved from post#1. I put more emphasis into Price action and Support and Resistance which is a bg part to add to this very simple trading method. Everyone has to find and create his/her own trading edge using this TMS 5-Method.

regards,

EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #37,557
  • May 16, 2014 12:17am May 16, 2014 12:17am
How to analyze this for 1H intraday trade? From the H4, it's going down but on the D1, though the HA is still red but it may signaling to reverse due to it broke yesterday D1 inside bar. In this kind of situation how am I going to trade the bias? Trade Long due to it broke ystd D1 inside bar or trade Short to follow H4's trend?

Most of the time I have challenge on deciding the bias when the higher TFs (H4 & D1) are conflict with each other.

Thank you for your feedback,
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Picture1.png Size: 298 KB
Click to Enlarge Name: Picture3.png Size: 308 KB
Click to Enlarge Name: Picture4.png Size: 216 KB
  • #37,558
  • May 16, 2014 12:56am May 16, 2014 12:56am
Quoting pastecopy
How to analyze this for 1H intraday trade? From the H4, it's going down but on the D1, though the HA is still red but it may signaling to reverse due to it broke yesterday D1 inside bar. In this kind of situation how am I going to trade the bias? Trade Long due to it broke ystd D1 inside bar or trade Short to follow H4's trend? Most of the time I have challenge on deciding the bias when the higher TFs (H4 & D1) are conflict with each other. Thank you for your feedback, {image} {image} {image}

Hi,

Today is Friday, so I wont be taking any new 4H swing trades.

But as an exercise to learn, which I did before this week open. Go to the Monthly chart and look at the March and April Monthly candles, do you see the March close and April open price levels, draw a line across this level, then to to Weekly and then Daily charts and then H4 chart look at how the market traded this week from Monday to Thursday.
Look at H4 chart, price move down following previous W bias, with a nice PCRF at the Previous Week Pivot and RN 1.8050, but stopped with a Double Bottom Pattern. What caused the Double Bottom?
- maybe it is RN 1.7850,
- maybe it is the Dy 200EMA which some traders believe,
- maybe the market type is sideways so it is 60% of the average weekly traded range for this pair,
...etc.
Anyway, you missed the H4 setup at the Double Bottom at 1.7850 as support.

So today intraday H1 trading, it can trade both ways since we see consolidation with that H4 WRB and now Master Candle. Asian session is narrow range while PA is inside the WRB/MC.
Opportunity is breakout of the Asian high or the low, but let PA show the way and use The TDI as confirmation of the PA.

Any news affecting the AUD today, I don't see any and whatever happen with China data this week already factored into the AUD ealry week.
Any news affecting GBP later today? you need check that.

Be mindful of that Monthly swing level 1.7978 mentione above.
Daily range target between 100 and 132 pips maximum. ADR is of good use today.


regards,

EMMANUEL

Edit: Here is my H1 chart. As usual, I have a Plan A and a Plan B.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPAUD week20 H1 16May Friday.png Size: 49 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #37,559
  • May 16, 2014 1:15am May 16, 2014 1:15am
USDCHF short !!
ST 89.650 TP 87700 can't upload the chart.
  • #37,560
  • May 16, 2014 1:18am May 16, 2014 1:18am
Quoting stevepatt
{quote} Hi Tanglewood, This is why, I think, if Eric was still trading, today, he would of had to adapt his system to keep it working effectively. It.s just a shame he's not still around to share his wisdom. I'm not saying that trading, purely, as per page one won't work but it won't be as effective as it was when Eric started this thread. Even Bizzzle has adapted his trading to incorporate the Market Base Line (MBL) Post 37,486 and the two trades highlighted are in line...
The market has definitely changed in the level of pips that can be expected, and that Eric's system may have evolved to take that into account, but the volatility at that particular time of day hasn't changed, we still have more volume in London/NY than at any other time, the amount of pips we can expect from that though has changed considerably. Bizzle's whole point in the posts was to get this thread back to the TDI. There are lots of threads on FF that take into account PA and s/r, Eric also took those into account but he took notice of the TDI first and he probably still would, because if people actually took note of the position of the TDI at the open of the candle and then at PA/s/r they would do much better with the system as is.

At one point it was getting so that some people on the thread were posting trades that were absolutely nothing to do with the TDI and even totally against what the TDI was indicating and there are lots of other threads they can post that on.
39 traders viewing now