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Trading Made Simple

  • #57,861
  • Jun 13, 2015 5:12am Jun 13, 2015 5:12am
Quoting TheScorpS
{quote} yes this could be it, still structure based trading can work, ie if you enter a trade targeting next structure, u can still use that with regular take profit
Hi TS! Thnk u. That's an important tip.

Regards,
Winners Never Quit, Quitters Never Win
  • #57,862
  • Jun 13, 2015 6:44am Jun 13, 2015 6:44am
Repost but some might find it helpful. I made a compilation of important TMS stuff + Ebooks + Books. PM me your email if you want it. Check "Reading List" in attachments of this thread for an overview of what's included.

Best,
  • #57,863
  • Jun 13, 2015 6:48am Jun 13, 2015 6:48am
Quoting Karado58
{quote} Hi Emanuel, Doesn't a MC need to completely engulf the only the next 4 candles to qualify to be a MC?! So if it engulfs more then 4 candles, and there are wicks outside the main candle, is it still a MC/WRB or Mother Candle? You can tell, I'm confused. Market is in a range on the D, TDI is oversold. I see divergence as well? Don't trade the D until it breaks out; step down to the next TM H4 or H1 and trade the range from there until there is a breakout on the D? Thank you for this informative post, I'll study it. Post...
Hi Karado,

I assume you already know the basic forex trading stuff. I use babypips.com/school topics as reference.

Why are you jumping around everywhere?
Why not stop reading this thread and take stock of what you know and the skills you already have. What we cover in this thread are the technical related to trading the 5-Method. We have not gone into money management strategy, the next big part.
You need to know what you do not know yet and find way to learn them.
You want to become a trader, you need to have a structure for your own learning and development.
There are a lot of stuff shared here so you need to structure these and take your time to learn these slowly.
Post some charts and ask questions. This is one good way to learn with charts.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #57,864
  • Jun 13, 2015 7:11am Jun 13, 2015 7:11am
big e said in one of his posts he doesn't wait for the 5ema cross for the signal. was this later changed or is it personal preference?
  • #57,865
  • Jun 13, 2015 7:13am Jun 13, 2015 7:13am
Quoting camron
Good morning! I do know the rules of TMS and it's all good. I'm at a point where I want to improve my money management. So, a post from Emmanuel http://www.forexfactory.com/showthre...49#post7890449 made me search on Fezmar's money management style (not trading system) and he and Graeme have some very good returns. Can this work when finding major support/resistance areas, switching to smaller time frames for tighter stop loss and trading in the direction of the higher trend to what PHX calls PCRF and wait until it bounces...
Hi camron,

We trade D1 charts with Multiple Entries / Multiple Exits using small positions. It is a combination using position building when there is retracement to get a better average entry price and to add more positions when my trades run into profits.
It is knowing the market type – whether it is trending or sideways ranging. Trending market is easy to manage ME/ME trades. But it is when the market is sideways, we need to identify whether the ranging is narrow or wide range. We learn to avoid narrow range market type.
We identify historical support and resistance on higher TF Monthly and Weekly and use these levels to plan our trades. Knowing the market swings on the D1 chart TF – swing highs and swing lows is important part of how we trade. That has nothing to do with the PCRF you mentioned. It also has nothing to do with using lower TF for smaller stop loss, etc. We play with average price of all open trades hence also the technical cut loss of all open trades when things goes against our trade plan. Learn to take small losses but let the profitable ones run.
Below charts showing the trades closed for this week. I traded 6 pairs, the 3 Amigos (AUDUSD, EURUSD and GBPUSD) plus its cousin GBPAUD. I had to cut some small losses with GBPJPY and EURCAD. But overall it has been a very profitable week with +41% in 5 trading days. But not every week is like this. Our target is 10% in a 20 trading days cycle.

Attached Image (click to enlarge)
Click to Enlarge Name: Week 24 traded 3Amiigos plus 1.png Size: 97 KB


Attached Image (click to enlarge)
Click to Enlarge Name: Week 24 trades.png Size: 53 KB


regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #57,866
  • Jun 13, 2015 7:13am Jun 13, 2015 7:13am
edit: i see later he changed to waiting for a close over the 5ema
  • #57,867
  • Jun 13, 2015 7:17am Jun 13, 2015 7:17am
Quoting bildung
{quote} Hi all! Im Martin from Uruguay, Im interested in forex markets since 2013. I traded with live accounts without success in lower times frames (15M, 30M)- Since I found this thread Im studding and applying this method in a demo account with good results. Here is my screenshot of a long trade taken today in the EURUSD. Thanks for sharing all the knowledge! M. {image}
Hi Martin,

Good trade I see on your chart. You know the basic rules. .

Discipline is important. Look for the best setups and trade them with confidence. Do not over trade.

Good Trading.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #57,868
  • Jun 13, 2015 7:24am Jun 13, 2015 7:24am
Quoting dennis4u15
hi Emmanuel, from what I see on the AUDUSD chart is that there could be an uptrend in the upcoming days??? as the green line has re entered the volatility band after the big candle made it go outside the band. Am I on the right track?? Regards Dennis
Hi Dennis,

We do not know if there will be uptrend next week. What we see now in the AU chart is market is sideways ranging with the WRB High-Low.
We have some important news next week and there is FOMC. Keep our date with the FED. Also keep our ears on the ground with BoC/CNY what the Chinese may do in respond. It is going to be action next week.

See comments on the AU chart.
There are several historical S&R where I will be looking at the PA around these. Monthly and Weekly will show us the bigger picture.

Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD week 24 D chart WRB notes.png Size: 86 KB


Trade Well.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #57,869
  • Jun 13, 2015 7:44am Jun 13, 2015 7:44am
Quoting emmanuel7788
{quote} Hi camron, We trade D1 charts with Multiple Entries / Multiple Exits using small positions. It is a combination using position building when there is retracement to get a better average entry price and to add more positions when my trades run into profits. It is knowing the market type whether it is trending or sideways ranging. Trending market is easy to manage ME/ME trades. But it is when the market is sideways, we need to identify whether the ranging is narrow or wide range. We learn to avoid narrow range market type. We identify historical...
Thanks for the clarification, Emmanuel. Very impressive results. I realize I still have some work to do
  • #57,870
  • Jun 13, 2015 9:22am Jun 13, 2015 9:22am
Quoting emmanuel7788
Introduction to Trading Made Simple Here is a quick introduction to this Trading Made Simple thread: Trading made Simple for beginners : Post#52,707 A short history by pioneer member snarlyjack Post#110 Our late OP eelfranz aka Big E spent 6,000 hours: Post#6 and he evolved as a trader and went on and developed two...
Thank you so much Emmanuel for putting all this togheter. I've also reading the thread from the beggining, but it is also good to have this compilation, so we can get a quick sense of the method.
  • #57,871
  • Jun 13, 2015 9:38am Jun 13, 2015 9:38am
GBP JPY Big Picture

I'm not an experienced trader and I'm not all too sure about these things so feel free to comment !

We're at historical highs. Harmonics and 127% ext. points towards 195. We broke a WRB (circled) so there's some upside but TDI is diverging so need to watch out. Market also looks a bit choppy recently.

4h charts shows long term divergence even better. 194,50 is 161% of last week. TDI does not have much room to move up if it wants to respect the trendline.

While below prev week high (192,22) I'm looking for short signals on 4H. If we go above prev week high I'm trading 1H chart longs with targets 193 194. Pay close attention to reversal if we get another leg up.

what you all think?
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GBP JPY 4H June.png Size: 74 KB
Click to Enlarge Name: GBPJPY Daily June.png Size: 62 KB
  • #57,872
  • Jun 13, 2015 9:59am Jun 13, 2015 9:59am
EUR JPY

Seems to have found RN at 141. Three consec days lower albeit not decisively. Haven't closed outside the WRB. 4H chart shows the ranging conditions even better. 138,50 seems to provide support. 138 is 127% of Prev Month.

Firm close above 139,50 exposes some upside towards 141. Close below 138,40 exposes downside towards 137 and towards 200 EMA.

Any feedback is appreciated !
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EUR JPY 4H June.png Size: 72 KB
Click to Enlarge Name: EUR JPY Daily June.png Size: 65 KB
  • #57,873
  • Jun 13, 2015 10:43am Jun 13, 2015 10:43am
EUR USD

Daily chart ranging but 1,14 seems to provide some resistance.

Looking for shorts on 1H near WRB Hi or Prev Week Hi. Could trade some 1H long siglals if reversal near WRB Lo. If close below 1,1180 I'm very bearish. I also think the FOMC wants to be ahead of the curve with wage growth accelerating and their commitment to raise gradually. I'm not saying they'll raise next week but I do expect something hawkish. In addition, it really is a decisive week for Greece.

having said all of that.. I don't even know if I should trade EU next week ?
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EUR USD 4H June.png Size: 82 KB
Click to Enlarge Name: EUR USD Daily June.png Size: 57 KB
  • #57,874
  • Jun 13, 2015 11:20am Jun 13, 2015 11:20am
GBP USD

Daily: Possible 123. Last week was strong, breaking WRB and 200 EMA. Coming up: Trendline and Swing Hi. I need to see this break before I believe the 123.

4H: WRB. Trading 1H inside (1,5600 - 1,5500) . Close above exposes 127% ext. of Prev Week and 78% Retracement of last swing lower. This coincides approx. with the Trendline on the daily. So I'm expecting strong resistance here. If it Break 1,57 next is 1,5820.

Close below 1,55 is less clear for me. I might just wait for confirmation below EMA's and 50% Pivot levels (prev week and month.)
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GBP USD 4H June.png Size: 78 KB
Click to Enlarge Name: GBP USD Daily June.png Size: 61 KB
  • #57,875
  • Jun 13, 2015 11:24am Jun 13, 2015 11:24am
Any feedback is welcome ppl ! I'm sharing these things with all of you because I want to improve my big picture analysis. I really feel like this is vital for truly mastering the system so if you have anything to add / correct ... Go ahead

Enjoy the rest of the weekend,,

gr
  • #57,876
  • Jun 14, 2015 5:28am Jun 14, 2015 5:28am
Hi Emm,

pls help me to solve this, thank you

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDH1.png Size: 66 KB
  • #57,877
  • Jun 14, 2015 7:14am Jun 14, 2015 7:14am
Quoting brekz1
Hi Emm, pls help me to solve this, thank you {image}
Hi brekz1

Sorry for my lack of understanding. While EMU back to you and answer let us also learn from your chart. This trade is 18th may right? Could you please drag the trade from your history tab.

Thanks
Sad i'm not trying to understand PA
  • #57,878
  • Jun 14, 2015 7:45am Jun 14, 2015 7:45am
Quoting omonisha
{quote} Hi brekz1 Sorry for my lack of understanding. While EMU back to you and answer let us also learn from your chart. This trade is 18th may right? Could you please drag the trade from your history tab. Thanks
Hi Omo,

yes its 18th may, but i dont take that trade, but usually i take that trade,
i dont have history aabout that trade because i dont take that trade.

regards
  • #57,879
  • Jun 14, 2015 8:36am Jun 14, 2015 8:36am
Quoting brekz1
{quote} Hi Omo, yes its 18th may, but i dont take that trade, but usually i take that trade, i dont have history aabout that trade because i dont take that trade. regards
Thanks brekz1. 1st trade facing major S/R areas. 2nd trade a little easy. Structure broke and retest. Just trying to draw the recent important areas
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 2015-06-14_17-52-08EURUSD_D1.png Size: 77 KB
Click to Enlarge Name: 2015-06-14_17-58-48EURUSD_H1.png Size: 87 KB
Sad i'm not trying to understand PA
  • #57,880
  • Jun 14, 2015 9:45am Jun 14, 2015 9:45am
Quoting omonisha
{quote} Thanks brekz1. 1st trade facing major S/R areas. 2nd trade a little easy. Structure broke and retest. Just trying to draw the recent important areas {image} {image}
Hi OS! I've a question:

  1. If we are trading in hourly charts, which S/R areas we reckon as the "major one", Daily, Weekly or Monthly?

Regards,

Winners Never Quit, Quitters Never Win
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