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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 system follower - Thanks to eelfranz 9 replies

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Trading Made Simple

  • #45,881
  • Dec 6, 2014 7:19am Dec 6, 2014 7:19am
Quoting MrAussieFX
{quote} Hi Ray, I'm not experienced but would like to share my view on the chart. I believe others with more knowledge can give you more accurate explanation of your trade entry. Ignoring the factors such as news pushed the price, ADR of the pair etc. I would like to go straight to the point that MA's are slow and react according to the PA which is moved by traders (PAC in your case) moves fast and institutions (Guppy MA in your case) moves slow. {image} Even if your 1st (vertical line) trade entry was counter trend entry it has some good factors...
Many, many thanks MrAussieFX for a great explanation, really appreciate your thoughts. Completely clarified what I was trying to get my head around.

Ray
  • #45,882
  • Dec 6, 2014 8:15am Dec 6, 2014 8:15am
Quoting snarlyjack
{quote}The only suggestion I can make is, (if you go to properties on your platform) you can remove the grid lines. That will free up your eyes and will reduce your stress.
Yes thank you! I already did that. I normally get rid of it right away but somehow forgot on this pair. Have a great weekend!
  • #45,883
  • Dec 6, 2014 9:41am Dec 6, 2014 9:41am
Quoting MrAussieFX
Following up on my last Nov 1, 2014 post #43,134 the EA being bullish majority of the time in November moved roughly 520 pips from 1.42288 to 1.47500(as of today). I believe most of us had some great greens in our accounts. As mentioned before my focus is mainly on NY candle close (daily candle) now and although I did my analysis on EA for November but due to work and sleep, I couldn't trade according to my own analysis. Here is EA analysis for the next week.(This is for...
MrAussieFx,

Your analysis is excellent! Thank you.

***Especially when you pointed out that the pac (price action channel) is the same
as the short term guppy traders! (This is one of the key's)*** The reason I use the
pac instead of the short term trader guppy's is imho the pac shows us more than the
short term guppy's and gives off better entry/exit signals. The short term guppy are
good but so is the pac. The long term investor guppy's show us the trend & where the
institutions are sitting! Used together the long term guppy & the pac will show us the way***

Add in the Tdi with the levels and they will guide us. (trend, level's,tdi). Follow the yellow
brick road...

sj
  • #45,884
  • Dec 6, 2014 12:08pm Dec 6, 2014 12:08pm
Quoting snarlyjack
{quote} Greenb, What can I say, I think your doing great! Thanks for all your help. This was excellent advise! Enjoy Vancouver this weekend... sj
nono, i'm still learning as well. charts posted by other trades in this forum thought me more than just looking at chart on my own.
btw, rainy vancouver weekend hahah

have a good week too sj

Greenb
Daniel
  • #45,885
  • Dec 6, 2014 3:28pm Dec 6, 2014 3:28pm
Quoting fxray
Here is a question for the more experienced traders. I have posted a chart on the ESD/CHF 4hr. The daily trend is up. The last three vertical red lines indicate what i underrstand to be a valid 'with trend' entry ie: TDI cross, above DSR mean, moving away from Guppys. However the first red line (left on chart) has TDI cross, leaving the 200ema, but Guppys horizontal through the entry candle. Question - is this first trade still valid? Appreciate your thoughts, have a great weekend Ray {image}
I think the reason for price having to move through the horizontal guppys at that point is due to the fact that price just made the second touch of a double bottom with divergence (the yellow line). Once price double bottoms and pushes through previous resistance (the blue box), the TDI cross become valid.

Re: the two setups to the right.... price didn't need to double bottom because it had already pushed through previous resistance and that why you don't see the guppys interfering with it. The guppys really just show you where previous support & resistance zones are located... look left and you'll see those zones.

Personally, I think you might want to consider removing some of stuff on your chart. Strip it down to only what's absolutely necessary. Things get very confusing to the eye when you have "too much" on a chart. Note: that's just my opinion, and just like my analysis, if you add $10 it will get you a coffee at Starbucks.
Attached Image (click to enlarge)
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  • #45,886
  • Dec 6, 2014 3:43pm Dec 6, 2014 3:43pm
I just want to say, Consistency is everything.

Trading is ALL about Consistency. If you find a system, you do reasonable back testing and some forward testing and you find that it gives you a statistical advantage (an edge) then the next step to take is simple. Just trade it.

One must stay consistent. IF you keep adding or deleting indicators to your chart day in a day out you probably are not consistent. And how can you be consistent if you keep changing the environment for your mind and your eyes. Your eyes must see the same picture over and over and must not expect changed picture everyday. Meaning, if you keep using different templates on a weekly or daily basis, consistency will be hard to achieve.

Beware The Template Syndrome: So I urge everyone to select a template and then forget about other templates. If you're like many of us, you probably have over a dozen templates in your mt4. I've seen some people when they click on their templates button two or 3 columns appear, yes hundreds of templates. But that leads to nothing. Our first indicator is price, you can add 2-3 more derived indicators anything more than that would just complicate things. Trading is ALL about consistency. and "Consistency = Patience + Discipline. "

If you want success in trading you must treat it as a business. You must be thorough. You must keep a journal and record everything. Accurate recording leads to better faster learning and helps with consistency. In a phrase successful trading is nothing but acquiring a personality trait. Being Consistent. IMHO
"...Look for 5:1 RR. I can be wrong 8/10 time yet I'm not gonna lose" PTJ
  • #45,887
  • Dec 6, 2014 9:24pm Dec 6, 2014 9:24pm
Quoting MrAussieFX
Do you use 200 MA in your trading ? This is a video that explains why it is the mighty 200 MA. Great video for the weekend. http://youtu.be/M8fr0MYgIs4 Kindest regards

Thank you so much for sharing this video, much appreciated.
  • #45,888
  • Dec 6, 2014 9:57pm Dec 6, 2014 9:57pm
Quoting fxray
Here is a question for the more experienced traders. I have posted a chart on the ESD/CHF 4hr. The daily trend is up. The last three vertical red lines indicate what i underrstand to be a valid 'with trend' entry ie: TDI cross, above DSR mean, moving away from Guppys. However the first red line (left on chart) has TDI cross, leaving the 200ema, but Guppys horizontal through the entry candle. Question - is this first trade still valid? Appreciate your thoughts, have a great weekend Ray {image}
hi Ray,
Many factors added to this winner, in fact 2 crosses before your 1st red line never got stopped out if SL was few pips below last wing low (which was that master candle in this case) since price touched 200EMA (major support) and got rejected:
- TDI green and red crossed just right above yellow line and created a clear HL.
- price was stepping up
- I would have a buy pending order a few pips above last wing high.
Attached Image (click to enlarge)
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Appreciation is the key to wealth and happiness
  • #45,889
  • Dec 6, 2014 10:00pm Dec 6, 2014 10:00pm
May thanks to SJ and MrAu for the videos. They added lots of value to my trading knowledge
Appreciation is the key to wealth and happiness
  • #45,890
  • Dec 6, 2014 10:16pm Dec 6, 2014 10:16pm
Quoting likica
May thanks to SJ and MrAu for the videos. They added lots of value to my trading knowledge
For me too
Intelligence is the ability to adapt to change. Stephen Hawking
  • #45,891
  • Dec 6, 2014 11:58pm Dec 6, 2014 11:58pm
Hey Lorbax,

I wanted to thank you for all your help!
I appreciate all your insight to trading
sj
  • #45,892
  • Dec 7, 2014 12:01am Dec 7, 2014 12:01am
Quoting likica
{quote} hi Ray, Many factors added to this winner, in fact 2 crosses before your 1st red line never got stopped out if SL was few pips below last wing low (which was that master candle in this case) since price touched 200EMA (major support) and got rejected: - TDI green and red crossed just right above yellow line and created a clear HL. - price was stepping up - I would have a buy pending order a few pips above last wing high. {image}
Likica,

Thank you!
If your not all ready, your going to be really good
I really appreciate all the skill that it takes, it's fun to watch!
sj
  • #45,893
  • Dec 7, 2014 2:39am Dec 7, 2014 2:39am
Quoting Kouroushi
{quote} Hi Emmanuel, How are you? Do you really find it a BUY? {image}

Quoting emmanuel7788
{quote} Hi, I am good. Thanks. Still on vacation. UJ is still bullish despite losing some momentum due the recent dollar weakness. On lower TF trading you can catch some pips when sell. Many technical stops below 118.20. Buy the dips. Target 119.20 and 120.85 regards,
Hello Kouroushi,

UJ still buy mode next week. But be careful as we approach to year end festive season and liquidity maybe in question. There are closeby historical swing levels as resistance close by. See chart below. The TDI Volatibility Band is narrowing and the TDI very long time in the overbought 68-level.

The strong bullish trend can continue into 2015.

Attached Image (click to enlarge)
Click to Enlarge Name: USDJPY week 50 D chart.png Size: 35 KB


regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #45,894
  • Dec 7, 2014 2:47am Dec 7, 2014 2:47am
Quoting snarlyjack
{quote} Emmanuel, I did want to ask how we can log in to see your pictures? You will love the daily chart & only looking at the charts once or twice a day! What could be better than that? The weekly works good also. It's a different way of thinking but money is money. Who cares about the time frame. Retirement is for the living...enjoy it & take it all in! You worked hard for this sj

Hello SJ,

Sorry no photos to upload the past few days as I was in very remote areas in WA. The internet bandwidth is very limited and too many users sharing. Will try next week when I back in the big city of Perth and connection would be more permanent.

You are keeping the TMS family going very well and in high spirit. Eric is looking down on us and seeing what is going on with you and many active traders sharing their experience in his thread, I am sure he has a very big smile.

Good Trading next week.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #45,895
  • Dec 7, 2014 4:45am Dec 7, 2014 4:45am
Quoting likica
{quote} hi Ray, Many factors added to this winner, in fact 2 crosses before your 1st red line never got stopped out if SL was few pips below last wing low (which was that master candle in this case) since price touched 200EMA (major support) and got rejected: - TDI green and red crossed just right above yellow line and created a clear HL. - price was stepping up - I would have a buy pending order a few pips above last wing high. {image}
Thank you likica for your input, much appreciated.

Ray
  • #45,896
  • Dec 7, 2014 4:48am Dec 7, 2014 4:48am
Quoting sknight1
{quote} I think the reason for price having to move through the horizontal guppys at that point is due to the fact that price just made the second touch of a double bottom with divergence (the yellow line). Once price double bottoms and pushes through previous resistance (the blue box), the TDI cross become valid. Re: the two setups to the right.... price didn't need to double bottom because it had already pushed through previous resistance and that why you don't see the guppys interfering with it. The guppys really just show you where previous...
Thanks for the feedback sknight1. I have simplified my charts quite a bit on the advice of SJ - but am working through a process of elimination as I find my feet with this method. Have even tried only candles & TDI but found that too stripped back
  • #45,897
  • Dec 7, 2014 5:30am Dec 7, 2014 5:30am
dustbin

Thanks for sharing this with us

You need to see the same thing everyday, same template, same idnicator, repetition until you get bored of doing the same even if the results dosent represent what you want just keep doing and working hard while back-testing, basically do the same u do everyday , then only you will see the positive results you are after , TMS traders think about it , I remember all those traders that traded TMS at one pint and gone by now if they have done it this way , they sure would need a wheelbarrow , if not by now, am sure it wont be far way

I saw positive results only because I did the same thing everyday
I Have Learned to Take Some Losses to Make Profits
  • #45,898
  • Dec 7, 2014 5:41am Dec 7, 2014 5:41am
Quoting TheScorpS
dustbin Thanks for sharing this with us You need to see the same thing everyday, same template, same idnicator, repetition until you get bored of doing the same even if the results dosent represent what you want just keep doing and working hard while back-testing, basically do the same u do everyday , then only you will see the positive results you are after , TMS traders think about it , I remember all those traders that traded TMS at one pint and gone by now if they have done it this way , they sure would need a wheelbarrow , if not by now, am...
Very well said!
  • #45,899
  • Dec 7, 2014 5:55am Dec 7, 2014 5:55am
Quoting fxray
{quote} Thanks for the feedback sknight1. I have simplified my charts quite a bit on the advice of SJ - but am working through a process of elimination as I find my feet with this method. Have even tried only candles & TDI but found that too stripped back
I understand that traders always feel compelled to add more indicators to improve on a system. But let's not forget the title of this thread... "Trading Made Simple." eelfranz the OP himself stated 3 years ago... (Paraphrasing)... forget about adding other indicators... it will only confuse your trading! Now I haven't read all 2,296 pages of this thread, but I have read enough to know that there are members here trying to add to the OP's simple trading strategy. Why complicate it? Now if eelfranz has revised his trading method over the past 3 years... then I need to be corrected.

AG
  • #45,900
  • Dec 7, 2014 5:55am Dec 7, 2014 5:55am
Quoting snarlyjack
{quote} Likica, Thank you! If your not all ready, your going to be really good I really appreciate all the skill that it takes, it's fun to watch! sj
Thanks for your encouragement and on going support SJ. Knowing when to enter a good trade is A, how to manage it well is +A that where I need to improve.
I know you only focus on EU GU AU and lots of traders are now interested in EA. Just a few are into GA.
Here is my interest beside EA, well every time I see a divergent I get excited, but need more bear to go short...
Attached Image (click to enlarge)
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Appreciation is the key to wealth and happiness
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