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Trading Made Simple

  • #57,781
  • Jun 11, 2015 3:03am Jun 11, 2015 3:03am
Quoting Next4467
{quote} Hi omonisha is that an indi that draws the weekly and monthly hi & lo's? if it is would you mind sharing it. thanks
Yes sure it is our excellent trader griffinssoul creation. You even can enable the open and close of D WK MN.

Enjoy

http://www.forexfactory.com/showthre...69#post8239069

 

  1. Post 3,133

Sad i'm not trying to understand PA
  • #57,782
  • Jun 11, 2015 3:10am Jun 11, 2015 3:10am
Quoting omonisha
{quote} Yes sure it is our excellent trader griffinssoul creation. You even can enable the open and close of D WK MN. Enjoy http://www.forexfactory.com/showthre...69#post8239069 Post 3,133
Thank you
  • #57,783
  • Jun 11, 2015 6:16am Jun 11, 2015 6:16am
Quoting Derek-305
{quote} Hi Emmanuel, I'm still a beginner reading through the thread, I just took 3 trades on the demo Big E style night time off the 4HR Chart; I've been doing them for a couple of weeks waking up to check them like he used to do, with good results. Given your last post I saw what you meant on the day chart of the GBPUSD, should I always check the day chart before a trade at night, did I do anything wrong on these? Thanks! D {image} {image} {image}

Hi Derek,

Good to hear that you good results trading H4 following the same style as Big E. It is good to read all his 1324 posts and learn the way he traded.
It is not clear if Big E check the day chart when he trade H4. But he has his own way how he read PA and interpret big candle and small candles. He rely solely on the TDI for entry and exit, but only after he had done the basic stuffs as he mentioned often.

We have US data release in about one hour so you have to decide what to do with open trades.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #57,784
  • Jun 11, 2015 8:00am Jun 11, 2015 8:00am
market is weird today, retail result say usd is good but eurusd is bullish, anyone make profit?
Take What You Can , Give Nothing Back
  • #57,785
  • Jun 11, 2015 8:16am Jun 11, 2015 8:16am
Quoting emmanuel7788
{quote} ...We have US data release in about one hour so you have to decide what to do with open trades. regards,
Hi emmanuel 7788! I've closed my position before the data, don't have that experience to deal with such data followed by huge whipsaw.

  1. What would b the best strategy/plan to deal with such news?
  2. Should we trade or it is better to keep ourselves away from it?


Regards,

Winners Never Quit, Quitters Never Win
  • #57,786
  • Jun 11, 2015 8:31am Jun 11, 2015 8:31am
Quoting emmanuel7788
{quote} Hi Derek, Good to hear that you good results trading H4 following the same style as Big E. It is good to read all his 1324 posts and learn the way he traded. It is not clear if Big E check the day chart when he trade H4. But he has his own way how he read PA and interpret big candle and small candles. He rely solely on the TDI for entry and exit, but only after he had done the basic stuffs as he mentioned often. We have US data release in about one hour so you have to decide what to do with open trades. regards,
Thanks Emmanuel, you do a lot for us newbies and keep this thread alive and profitable ; I will keep working and posting only about anything I cant find.

Also, for anyone who is doing the 4 Hour time trade at night, last couple of weeks it's been ideal to get out right before 8:30am Eastern Time.
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  • #57,787
  • Jun 11, 2015 9:28am Jun 11, 2015 9:28am
Quoting Derek-305
{quote} Thanks Emmanuel, you do a lot for us newbies and keep this thread alive and profitable ; I will keep working and posting only about anything I cant find. Also, for anyone who is doing the 4 Hour time trade at night, last couple of weeks it's been ideal to get out right before 8:30am Eastern Time. {image} {image}
GBPUSD-M30....Zoom in/out view.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: Zoom-In view.png Size: 47 KB
Sad i'm not trying to understand PA
  • #57,788
  • Jun 11, 2015 10:28am Jun 11, 2015 10:28am
Hello guys, I'm looking for an expert advisor for orders pending grid, any of you could share? or tell me where I can find?
  • #57,789
  • Jun 11, 2015 11:08am Jun 11, 2015 11:08am
Quoting omonisha
{quote} GBPUSD-M30....Zoom in/out view. {image} {image}
Nice chart and detailed explanation OS , thanks
I Have Learned to Take Some Losses to Make Profits
  • #57,790
  • Jun 11, 2015 12:18pm Jun 11, 2015 12:18pm
which pairs should i trade to gain the max number of pips?
  • #57,791
  • Jun 11, 2015 1:25pm Jun 11, 2015 1:25pm
Quoting shay14
which pairs should i trade to gain the max number of pips?
Shay,

Not sure you will get a direct answer to your question. Our late OP monitored 8 pairs but often recommended newbies begin with one pair or the three amigos (EU, GU, AU).

A nice resource shared by Emmanuel is, https://www.mataf.net/en/tools/02-01-volatility . You can learn about the volatility of different pairs depending on the market session you plan on trading. This will help with SL, TP, TS.

All the best,
N.
  • #57,792
  • Jun 11, 2015 5:55pm Jun 11, 2015 5:55pm
Quoting emmanuel7788
{quote} The Five Stages of Learning: {image}
Yes, exactly.
  • #57,793
  • Jun 11, 2015 6:06pm Jun 11, 2015 6:06pm
Quoting omonisha
{quote} Hi rupasi It depends on the situation how i approach to the trade. Different situation different approach. I am at learning stage too. But basically every weekend i analyse my pairs. Mark the recent strong and minor areas with the trend. If i see price heading to those area i quickly mark areas of confluence space etc.. wait to see a candle pattern or a pull back near those area with TDI confirmation. Hope i understand you
Yes, thanks. I just need to do more study and post what I see and look for feedback from the elders.
  • #57,794
  • Jun 11, 2015 6:30pm Jun 11, 2015 6:30pm
Quoting Akiro
{quote} Hi Donquixote, I knew there was at least one person wiling to help a newcomer in this gigantic thread. It's just I'm new to FF as well, and didn't realize the Paperclip and the quick access it gives to files posted. Thank you very much Donquixote!
Hi there Akiro,

You're right, there is alot of material. The suggestions I was given when I asked the same question were

1. Read all of Big E's posts. He started this thread and left a legacy. His comments seem simple (which they are) but they are also just about everything you will need to succeed. (Click on the paperclip in the top and sort it by name. Some excellent trader member compiled them all onto a pdf or two.)
2. There are other elder members who have continuing great advice. There are people like Emmanuel7788, Snarlyjack, TSS, Phx62, Mr Aussie Man, Omonisha and others. I suggest you focus on their posts and comments.
3. Read Emmannuels posts - all
4. Read Phx62's posts - all. Study I, II, III, IV
5. Read Snarlyjack posts.

I have been following this thread for awhile and am still working my way through the archived posts.
Keep current on the thread with a focus on the posts made by the senior members (note the yellow and red triangles by the names). That is extremely helpful.
Read Big E's posts right away, then start in the other members as you have time.
Start demo trading, get your feet wet with the method and advice given. Then you will have good questions to ask.

This should get you going. Good luck and welcome.
  • #57,795
  • Jun 11, 2015 8:35pm Jun 11, 2015 8:35pm
Quoting emmanuel7788
{quote} http://www.forexfactory.com/attachme...5&d=1433920113 GBPUSD D1 chart update Thursday 11 June: We had a strong bullish rally yesterday after the breakout of the D1 WRB High. Market tested the Historical resistance 1.5539 and close just below it. Today bias is to buy based on the price action and the positive momentum seen with the TDI. But the challenge would be to get into the market with a good entry price. Two possibilities: 1) Look for retracement entry in lower TF H1. 2)Trade away from today' Day Open...

GBPUSD 12 Jun Day chart trading update:

Yesterday was a consolidation day as we see the Day Inside Bar ... what Big E would call a small candle.
Caution: 10 June was a wide range bar and the price had not close above 1.55349.

We should be closely watching the TDI and follow the price bars above. I have a 20-day simple moving average added to the TDI and use this for my Day chart trading.
We must also pay attention to the Volatility Band of the TDI and we do not want to see that contracting. It will take several days before we see any potential for a major move. Keep our eyes and ears on major events/news. Do not forget the summer holidays/vacation in northern hemisphere. We should be prepared and ready with our trade plan.

See chart below.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD week 24 12 Jun update.png Size: 103 KB


Trade Well.

Edit: How to trade Inside Bar read post "Three powerful forex pattern pdf... Post#20,110"
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #57,796
  • Jun 11, 2015 8:51pm Jun 11, 2015 8:51pm
Quoting hsn100
{quote} Hi emmanuel 7788! I've closed my position before the data, don't have that experience to deal with such data followed by huge whipsaw. What would b the best strategy/plan to deal with such news? Should we trade or it is better to keep ourselves away from it? Regards,

Hi HSN,

Avoid trading low timeframes - H1 and below around news release hour. Most traders here use stops that are just too small and will be taken out easily.
Have some simple rules when trading H1. No opening of new trades 3 hours before a major news event. Most pairs take 2 to 3 H1 candle to move 20~25 pips and when there is news ahead, the price action is usually 'flat' or 'resting' (words of Big E in his training charts). If yopu want top trade around news hour, the best thinbg to do is wait until the news is out and after the big spike is over, look for TMS A+++ setups and trade them.

I trade mostly H4 and D1 and have less to worry about the market's 'knee jerk' reaction news candles because I use volatility stops and position sizing. Once the direction on D1 and W1 are set, the news candle seldom take out stop trailing behind two days high/low (2 days look back).

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #57,797
  • Jun 11, 2015 9:00pm Jun 11, 2015 9:00pm
Quoting shay14
which pairs should i trade to gain the max number of pips?

Hi shay,

You need to look beyond the number of pips.
There is $value per pip to consider.
There is spread to consider and also the spread vs ADR ratio.

Lots of other basic forex stuff.

Do you know that a trader who makes 100pips per week can make more money that one who makes 1000pips per week.

Tell me how much money you want to make in 20 trading days?
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #57,798
  • Jun 11, 2015 9:22pm Jun 11, 2015 9:22pm
Quoting hsn100
{quote} Hi emmanuel7788: Yes i agree PA is the most vital problem that i'm confronting too especially in trading hourly charts. what do you recommend for better understanding vis-a-vis PA, any readings, videos or something like that? Regards,
PRICE ACTION, PRICE ACTION, PRICE ACTION, PRICE ACTION, PRICE ACTION,...

Hi HSN,

This PA thing is so huge that I will never be able to learn all about it in my life time.
Since we are all here discussing Trading made Simple which is the 5-Method, I think we keep should keep PA simple by limiting to what is relevant and applicable to this 5-Method.
We started by identifying what Big E described as 'big candles' and 'small candles' in his 1324 posts and his training charts. We narrowed these down to five basic PA price bar/candlesticks patterns which we found most frequently seen in our charts in all different timeframes.
- Inside bar
- Bullish / Bearish Engulfing Bar
- Bullish / Bearish Outside Bar
- Double Bars Low Higher Close DBLHC and Double Bars High Lower Close DBHLC
- Wide Range Bars and Master Candles [3]

These are enough to help us look out for and know when to trade and when not to trade. These are what I call 'leading indicators' to complement the TDI which is s lagging indicator. These will help us determine what are reversal setups and continuation setups on our charts.

Some of the PA stuffs shared in this thread:

Three powerful forex pattern pdf... Post#20,110
Hikkake: Post#16,419
Inside Bar : Post#42,301
Mother Bar : Post#55,045
Master Candle : Post#28,556 pdf in Post#25,594
Master Candle (3): Post#54,546
WRB introduction in the pdf TMS 5-Method Basic Rules: Post#53,842
Wide Range Bar study: Post#54,551
Candlestick Patterns PASR for trading TMS Post#23,202 Post#28,601
Candlestick Reversal Patterns Post#17,049
Candlestick Fibonacci and Chart Patterns Trading Tools Post#31,777 (by Robert Fischer)

About the TDI:
Do Not believe in website which try to sell you a TDI which is non-lagging. So long as the TDI developed is based on the RSI data which is based on past price data, it is lagging behind the price action.

If there is any secrets of TMS 5-Method, then the answer is in the '5'.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #57,799
  • Jun 11, 2015 10:30pm Jun 11, 2015 10:30pm
Swing High / Swing Low ....

How do we identify them when we trade TMS 5-Method?

here is one page taken out of my own study notes.
these 5-bars pattern can be seen in all different timeframes.
there are also other 5-Method reversal patterns ... which we can take the trade setups using APB#1 and #2 candles.
they all have to do with 'big candles' and 'small candles', when PA is 'flat', 'resting', etc.
Attached File(s)
File Type: pdf Swing High - Swing Low Price Action.pdf   112 KB | 2,819 downloads
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #57,800
  • Edited Jun 12, 2015 5:15am Jun 11, 2015 10:40pm | Edited Jun 12, 2015 5:15am
already drag and drop Master Candle indicator but nothing happen
Master_Candle_v2.mq4

my broker is fxcm

and how to use xADR indicator
xADR.mq4
anyone can help?
Take What You Can , Give Nothing Back
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