Trading Made Simple | Page 2895 | 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

  • #57,881
  • Jun 14, 2015 10:36am Jun 14, 2015 10:36am
Quoting hsn100
{quote} Hi OS! I've a question: If we are trading in hourly charts, which S/R areas we reckon as the "major one", Daily, Weekly or Monthly? Regards,
hsn100... Hope Big OS will give better answer than me , in my opinion If i am trading hourly chart (H1) occasionally i look for MN S/R. but my for me WK and D1 give major S/R level or area to trade H1
  • #57,882
  • Jun 14, 2015 10:52am Jun 14, 2015 10:52am
Quoting hsn100
{quote} Hi OS! I've a question: If we are trading in hourly charts, which S/R areas we reckon as the "major one", Daily, Weekly or Monthly? Regards,
My View

Every time frame has it's own S/R. The many times tested area is the major area to me. The higher the time frame the stronger the area is. Some times i can't see S/R trading H1 because of the screen so i switch to next TF to see the S/R.
Sad i'm not trying to understand PA
  • #57,883
  • Jun 14, 2015 12:54pm Jun 14, 2015 12:54pm
Quoting brekz1
Hi Emm, pls help me to solve this, thank you {image}
Hi Brekz1,

I believe your question was addressed to Emmanuel but I would like to give my 2 cents here. It was very unclear what you wanted to ask in your chart but what I understood was that you wanted to know how to avoid bad trades and what could help you to filter bad from good/potential trade opportunities. Please find below my charts with the same date (18th May ).

EU H1 Chart
Attached Image (click to enlarge)
Click to Enlarge Name: EU H1 18thmay.png Size: 372 KB

EU H4 Chart
Attached Image (click to enlarge)
Click to Enlarge Name: EU H4 18may15.png Size: 311 KB


Kindest Regards
  • #57,884
  • Jun 14, 2015 3:17pm Jun 14, 2015 3:17pm
2015 Week 24 - Trade Summary:

4 trades in total:
- 0 Wins
- 0 BE
- 4 Losses

After a few weeks of poor performance, things went from bad to worse last week. I suffered my worst week of trading this method, with four consecutive losses sending my account deeper into drawdown. This was partly down to me veering from my plan, and partly down to some unusual movement seen in this pair over the past few days. A few people have mentioned the holiday weeks with reduced liquidity and choppiness. I'll need to look at my trade plan carefully as my performance in recent weeks is not sustainable and if this PA continues, then so will my poor results. Regardless, -8% for the week

Monday: Opened my charts at LO and saw that FO had spiked in either direction but TDI green was still sitting above red, yellow and 50, so my bias was still long. I went long once LO broke above FO but the move was short-lived. LO+1 dropped to re-test the low set by Frankfurt before the uptrend was allowed to continue. I was still confident in my analysis but later discussed the trade with TSS and he bought to my attention, a trend-line from the two previous day's highs that I had traded right into. (-25,-2%)

Tuesday: This trade will not make a lot of sense looking at the weekly summary chart. I noted that FO formed the second candle in a DT formation. LO matched the same high again and dropped down below the previous two candles (at the time, LO was a red candle). I entered based on price action, not TMS rules, and paid the price. LO whipsawed back to break the previous DT level set at FO. Once again, I got the trend direction for the day right, but the timing was all wrong. (-25,-2%)

Wednesday: The High Impact AUD news in the Asian session caused the move of the week to begin a few hours prior to London. LO formed a slight pullback in the move but LO+1 confirmed that the move would continue south. I entered on a break below the previous candles (continuation) but in short, I was late to the party. After such a strong move in the Asian session, the sensible thing to do would have been to sit on the sidelines. London and NY were flat all day. (-25, -2%)

Thursday: Again, there was a large move in the Asian session with the High Impact AUD news release. Opened my charts at LO anyway but we were still inside the WRB and there was no obvious setup. I waited for the US session hoping that the news might bring something along instead. The news release was battling with the 200EMA and again, there was no obvious setup so I closed my charts for the day.

Friday: PA had been flat all day Thursday, and since it was still sitting on the 200EMA I wasn't confident with an entry at LO. I waited for LO to make a clear break away from the 200EMA and entered on a break above it at LO+1 (on the assumption that LO had set the low for the session). A quick whipsaw in LO+1 stopped me out to wrap up another disappointing week. (-25,-2%)

Hoping for some more positive results to report at the end of this week. Have a good weeks trading ahead guys!

Ballistical
Attached Image (click to enlarge)
Click to Enlarge Name: Screen Shot 2015-06-14 at 21.15.28.png Size: 489 KB
Focus on the process and the profits will follow
  • #57,885
  • Jun 14, 2015 6:04pm Jun 14, 2015 6:04pm
Traying to spot Candle patterns I wonder if am I looking an IB on EURUSD ?? Should I wait for a TDI cross for a short entry?
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDH4_14_6_15.png Size: 53 KB
  • #57,886
  • Jun 14, 2015 6:48pm Jun 14, 2015 6:48pm
Hello guys, so, I have been reading the thread, and I think I now know some of the basic stuff about TMS. I have seen a lot of screenshots with trades you guys take.

Now, I have a question I want to ask you, this is not about TMS, it's about how you trade. Do you guys plan your week for possible trades ?, I mean, do you check the pairs you usually take trades on during the weekend to analize where the price is, SR areas, etc. And based on that, do you say something like: ok, based on my analisis, this week I am only going to trade long on this pair, and short this other one, etc, etc.

Thanks guys for sharing with us your knowledge.
  • #57,887
  • Jun 14, 2015 8:11pm Jun 14, 2015 8:11pm
Quoting celord
Traying to spot Candle patterns I wonder if am I looking an IB on EURUSD ?? Should I wait for a TDI cross for a short entry? {image}

Hi,

Use the Inside Bar indicator Post#42,296 to help you see the real price inside bar because the APB/HA candles cover the real price bars. All price action patterns are based on the real price bars.

Before you take any 4H swing trades, check the Monthly and the Weekly to determine the market type. Is the market trending or sideways?
If sideways, what is the range? narrow or wide range?
If not clear, then what is the Weekly Bias using the previous weeks price bars/candles.

Beware of weekend price gap. Note that the APB/HA covers the price gap .... and you don't see that.


regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #57,888
  • Jun 14, 2015 8:15pm Jun 14, 2015 8:15pm
Quoting elfanta
Hello guys, so, I have been reading the thread, and I think I now know some of the basic stuff about TMS. I have seen a lot of screenshots with trades you guys take. Now, I have a question I want to ask you, this is not about TMS, it's about how you trade. Do you guys plan your week for possible trades ?, I mean, do you check the pairs you usually take trades on during the weekend to analize where the price is, SR areas, etc. And based on that, do you say something like: ok, based on my analisis, this week I am only going to trade long on this pair,...
Hi,

Top down analysis is important part of the work a trader has to do and to be prepared. Having done your top down analysis, you make your trading plan for the new day and week.

Are you a Day Trader, Swing Trader or Position Trader?

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #57,889
  • Jun 14, 2015 8:16pm Jun 14, 2015 8:16pm
Quoting MrAussieFX
{quote} Hi Brekz1, I believe your question was addressed to Emmanuel but I would like to give my 2 cents here. It was very unclear what you wanted to ask in your chart but what I understood was that you wanted to know how to avoid bad trades and what could help you to filter bad from good/potential trade opportunities. Please find below my charts with the same date (18th May ). EU H1 Chart {image} EU H4 Chart {image} Kindest Regards
Very good reply to that question...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #57,890
  • Jun 14, 2015 9:26pm Jun 14, 2015 9:26pm
Quoting emmanuel7788
{quote} Hi, Top down analysis is important part of the work a trader has to do and to be prepared. Having done your top down analysis, you make your trading plan for the new day and week. Are you a Day Trader, Swing Trader or Position Trader? regards,
Hi Emmanuel, I am a swing trader, the thing is that I haven't done any formal analysis to prepare my trades for the next week. I usually identify SR areas and look for possible trades there.
  • #57,891
  • Jun 14, 2015 9:35pm Jun 14, 2015 9:35pm
I managed to survive some little profits on GU last week.

I believe this week will be an awesome trading week!
  • #57,892
  • Jun 14, 2015 10:06pm Jun 14, 2015 10:06pm
Quoting Ballistical
{quote} Birdnest, Emmanuel is right. Whilst many traders find it useful to work in terms of pips, pip numbers give no indication of actual monetary earnings. See two examples below: 1. H4 chart: SL is 100 pips. TP is 400 pips. R:R = 1:4. Order size is 1 standard lot (1 pip = Approx. $10) -> TP hit = (400 pips x $10) = $4000 2. H1 chart: SL is 25 pips. TP is 100 pips. R:R = 1:4. Order size is 10 standard lots (1 pip = Approx. $100) -> TP hit = (100 pips x $100) = $10,000 You can see that even with a smaller TP, its still possible to create generate...
Hi Ballistical/Emman,

Thanks for the explanation. I see the MM strategy/skill here. Risk to Reward is a truly an important aspect whilst trading to a profitable journey.
  • #57,893
  • Jun 14, 2015 10:35pm Jun 14, 2015 10:35pm
Thank you for reply me omonisha & MrAussieFX
  • #57,894
  • Jun 15, 2015 12:43am Jun 15, 2015 12:43am
Quoting birdnest
{quote} Hi Ballistical/Emman, Thanks for the explanation. I see the MM strategy/skill here. Risk to Reward is a truly an important aspect whilst trading to a profitable journey.

You need to work on your money management strategy for trading different timeframes.
It cannot be the same for H1 intraday and 4H swing trading on H4. Defintely cannot be the same for position trading using D1 chart TF.
The Entry and Exit strategy has also to be different.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #57,895
  • Jun 15, 2015 12:49am Jun 15, 2015 12:49am
Quick chart:

1H Chart during Asian Session at the Sunday Open. Cross happens on second blue HA candle.

Few remarks:

Sunday open session - Bad time to trade ?
Divergence on 1H TDI ?

Should we look for short only here untill the 4H closed above the 100% ?

best of luck this week all,
Attached Image (click to enlarge)
Click to Enlarge Name: GBPAUDH1.png Size: 67 KB
  • #57,896
  • Jun 15, 2015 12:59am Jun 15, 2015 12:59am
Folks,

I have many PMs and obviously some traders are still not clear about this simple method. Some are confused whether they should check the TDI first then the Price Action or check the Price Action first then the TDI.

These two posts pic below have been misquoted by someone and that caused the confusion. There is no such thing at a non-lagging or leading TDI indicator which can predict the market ahead in time. That is bullshit and please don't waste your time looking for this 'holy grail' predictive TDI and paying money for it.

Attached Image (click to enlarge)
Click to Enlarge Name: eelfranz post 270 vs 3142.png Size: 100 KB


Big E wrote those posts in reply to certain members and we should be reading the context in which he replied.
For me,
It is always Price Action first then the TDI.
It is the same priority whether I have open trades and managing trades or I am looking for new trade setups.

You must always have done your technical analysis and big picture planning and be ready with your trade plan before your trading hours.
You cannot look for the TDI cross then start your analysis. The PA is the heads up for any potential trade setup.

It should be PA > TDI > PA > TDI .... it go in a cycle.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #57,897
  • Jun 15, 2015 1:02am Jun 15, 2015 1:02am
Quoting tibovwh
Quick chart: 1H Chart during Asian Session at the Sunday Open. Cross happens on second blue HA candle. Few remarks: Sunday open session - Bad time to trade ? Divergence on 1H TDI ? Should we look for short only here untill the 4H closed above the 100% ? best of luck this week all, {image}
is GBPAUD trending or sideways ranging?

follow the Weekly candle if you are 4H swing trading.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #57,898
  • Jun 15, 2015 1:04am Jun 15, 2015 1:04am
Is it my browser or FF got effected with all this binary add covering the page
Sad i'm not trying to understand PA
  • #57,899
  • Jun 15, 2015 1:06am Jun 15, 2015 1:06am
Quoting Ballistical
2015 Week 24 - Trade Summary: 4 trades in total: - 0 Wins - 0 BE - 4 Losses After a few weeks of poor performance, things went from bad to worse last week. I suffered my worst week of trading this method, with four consecutive losses sending my account deeper into drawdown. This was partly down to me veering from my plan, and partly down to some unusual movement seen in this pair over the past few days. A few people have mentioned the holiday weeks with reduced liquidity and choppiness. I'll need to look at my trade plan carefully as my performance...

it was a very tough week for H1 trading EURAUD - weaker USD, and the 3 Amigos riding alongside.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #57,900
  • Jun 15, 2015 1:08am Jun 15, 2015 1:08am
Quoting emmanuel7788
{quote} is GBPAUD trending or sideways ranging? follow the Weekly candle if you are 4H swing trading.
Yes I agree. It's ranging. So just to be clear. We always want confirmation of 4H close if the 4H looks like its ranging. Price moved really firmly at that time so I kinda thought it was breaking out.

I'm sorry that I still don't fully follow the rules 100% guys. I really am trying to read everything and trade accordingly but when I'm at my screen I seem to behave differently...
385 traders viewing now, 1 is registered: