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Trading Made Simple

  • #58,461
  • Jun 30, 2015 11:51am Jun 30, 2015 11:51am
Quoting hsn100
{quote} Hi TS! Congrats and nice trades! Just two questions: How do u draw trendlines (white horizontal), manually or using some indie, what is their significance in your trade? In which TF was your entry because in M15 the tdi green/red cross was not there, did you enter before the cross? Regards,
Quoting Lookleft
{quote} Nice trade TSS But I have a question. If I was taking the trade I would have waited for the break of the trend line 6 APB later. What did you spot that I'm missing
Quoting hishamzz
{quote} I have the same question Zz
Quoting elfanta
{quote} Maybe because of the TDI cross(green crossing red with a good angle) ?, and that was the third time price touched support.
One answer for all , I have been trading TMS with Elliot Wave for quit sometime now but dont discuss it here so that I dont seem to shift the basic topic or complicates Trading Made Simple

To me trading is about waves cycles, each and every trend established runs 5 waves ups or down followed by correction wave, today after the trend established on EA it was the perfect match for elliot wave theory and up till now am writing this post EA hitting 1.4500 which might completed second 5 waves down shown on my second chart

At the time I took the trade it was still in wave 2 which was a leading triangle that consists of 5 waves as well (A-B-C-D-E) before the breakout happens , I took wave D inside that triangle and I was expecting a retracement to form wave E before the breakout occurs, so much details and so many views based on that

I hope I have not scared no one here as this is how I trade TMS and hope my answer shed some light or helps in any way , thanks for asking
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: EA_M15.jpg Size: 369 KB
Click to Enlarge Name: EA_M5.jpg Size: 356 KB
I Have Learned to Take Some Losses to Make Profits
  • #58,462
  • Jun 30, 2015 12:28pm Jun 30, 2015 12:28pm
Quoting TheScorpS
{quote} {quote} {quote} {quote} One answer for all , I have been trading TMS with Elliot Wave for quit sometime now but dont discuss it here so that I dont seem to shift the basic topic or complicates Trading Made Simple To me trading is about waves cycles, each and every trend established runs 5 waves ups or down followed by correction wave, today after the trend established on EA it was the perfect match for elliot wave theory and up till now am writing this post EA hitting 1.4500 which might completed second 5 waves down shown on my second chart...

Good post and well explained your kind of view is very intresting
Guido
Risiko birgt immer auch die Chance.
  • #58,463
  • Edited 5:29pm Jun 30, 2015 12:41pm | Edited 5:29pm
Hi all .
GBP/CAD , i try a second entry , i think that all TF are LONG and in H4 TF and H1 is appear a retrace ( is it correct ? )
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 265 KB


H1 TF used for (confermation ?)
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot2.png Size: 128 KB
  • #58,464
  • Jun 30, 2015 3:35pm Jun 30, 2015 3:35pm
Quoting TheScorpS
{quote} {quote} {quote} {quote} One answer for all , I have been trading TMS with Elliot Wave for quit sometime now but dont discuss it here so that I dont seem to shift the basic topic or complicates Trading Made Simple To me trading is about waves cycles, each and every trend established runs 5 waves ups or down followed by correction wave, today after the trend established on EA it was the perfect match for elliot wave theory and up till now am writing this post EA hitting 1.4500 which might completed second 5 waves down shown on my second chart...
Thanks for the explanation TSS. Very interesting and enlightening.
Never argue with a fool; onlookers may not be able to tell the difference.
  • #58,465
  • Edited 6:37pm Jun 30, 2015 5:48pm | Edited 6:37pm
Quoting TheScorpS
{quote} {quote} {quote} {quote} One answer for all , I have been trading TMS with Elliot Wave for quit sometime now but dont discuss it here so that I dont seem to shift the basic topic or complicates Trading Made Simple To me trading is about waves cycles, each and every trend established runs 5 waves ups or down followed by correction wave, today after the trend established on EA it was the perfect match for elliot wave theory and up till now am writing this post EA hitting 1.4500 which might completed second 5 waves down shown on my second chart...

Hi TSS,

very good detailed explanation how you breakdown the H1 wave into M15 and M5. I LIKE

But I have a question
Why did you take your trade entry on M5 wave D when you believe that there would be wave E to complete that 5-wave symmetrical triangle? I thought it would be 'safer' to see wave E complete and take the continuation since we are trading with single entry.

Just studying your three timeframes chart, knowing that there is retracement possibility to form wave E, this should be the opportunity to build up positions and get a overall better average entry price. I notice that big candles usually end one of the wave and form consolidation areas with many smaller waves.

Looking at H1 again now, do you see wave 3 had ended?


regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #58,466
  • Jun 30, 2015 6:02pm Jun 30, 2015 6:02pm
Quoting dewdrops
*New trader here. Forgive me if this is a stupid post or screenshots are not good* Hi Emmanuel or other senior traders, I read "Big picture trading" pdf today and after coming bk home from work, took usdcad chart and drew MN, W1 and D1 chart S/R just as mentioned on the pdf. USDCAD hit a monthly resistance 1.2422 and now coming down. As D1 bullish but monthly resistance hit and price coming down, would you short this based on H1 or wait for long setup after selling is over. Or short it based on H4 later (if TDI crosses) I guess I have got the idea...
Quoting emmanuel7788
{quote} Hi, we are in the last trading day for this June month so it is closing of positions for long term traders. MN show market is sideways and wide range. Last MN candle was bullish. Weekly also show a bullish week candle. Daily has a 'big candle' Wide Range Bar and market has been sideways in that WRB range for 3 days, but yesterday was bullish close. H4 show a reaction to last week high and also you are right there is Historical swing level region. No reversal yet as previous day was bullish. Just pull back ...at BRN 1.24000. Better to trade...

USDCAD update:

Hi dewdrops,

Did you catch that trade?

We have a breakout of the D MC, but face some recent swing high resistance and the BRN 1.2500.

With both the Mn and W1 bullish bias, we should be on the side of buyers on D chart.
Position building is one way to mitigate risk and to get a better overage entry price.
Do not enter D chart setup with full risk. I will use 1 to 2 % risk and break down my trades into small portions using 0.2% risk per position. use a technical stop loss and calculate each position size and build up to a full risk 1 or 2 %.

Do Not use Martingale and double up your position. It will damage your trading account very quickly when you are wrong.


Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD week 27 1 July.png Size: 55 KB


regards

Trade Well in the new month.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #58,467
  • Jun 30, 2015 6:15pm Jun 30, 2015 6:15pm
USDCAD D chart 1 July 2015:

What do you see?
Is that a possible AB = CD potential?

Do your Big Picture Plan and know where the Historical Swing levels are and that will show you the way.

Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD week 27 ABCD.png Size: 65 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #58,468
  • Jun 30, 2015 6:34pm Jun 30, 2015 6:34pm
For those who PM me yesterday about the basket of trades post#58,426
Common question asked, is if I am using martingale money management.
Answer is NO.

EURJPY Multiple Entries Multple Exits trades open.
Follow up to that post:

I have these positions open and now in floating loss.
This is not martingale as some may see it. You need to look at the higher TF monthly and weekly charts to determine the direction you want to trade.

I use a 1% risk for this basket of trades and each position is 0.2% risk and position size is calculated with an initial SL. I have now maximum 5 open psitions and there is a breakeven level.
Today I will manage this basket to see if I can breakeven and start recovery trades.

Attached Image (click to enlarge)
Click to Enlarge Name: EURJPY week 27 MEME open positions.png Size: 41 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #58,469
  • Jun 30, 2015 7:02pm Jun 30, 2015 7:02pm
Quoting Meowww
Hi Emmanuel and senior member i was a new member here and i trying to learn about this method this is my fisrt entry and the reason i took that any feedback are welcome sorry for my english... its not my main language {image}

Hi Meowww,

I do not trade GJ as there are better pairs to trade. New traders should stay away from this pair and learn the trade the major currency pairs - AU, EU, GU, Uj and EJ.

But looking at your charts, there is an exceptional H4 candle when this week open. That is a very wide range H4 candle and we should avoid any TMS H4 setup when the PA remain withing this H4 WRB high-low.

Now, take a look at the Big Picture:
Monthly is bullish.
Weekly also bullish.
Daily - interesting we seen consolidation then gap down. The gap still not covered yet. Not 100% the gap must be covered.
H4 - wide range consolidation. No trading.

H1 possible to trade both ways but the H1 candles are choppy with not clear direction and trapped in the range of 220pips (H4 WRB). Probably look for a buy setup when PA is at the low of the H4 WRB i.e. Monday 29 June Low. Day chart will tell the full story.

Best is to trade M15 with small SL.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #58,470
  • Edited 7:24pm Jun 30, 2015 7:12pm | Edited 7:24pm
EURJPY 1 July:

Sorry, that I have to post this EJ again.
Hot question in my group is when will I cut loss for that 5 open positions?

Look at the M15 chart price action, market always test BRN and it has tested 136.00 twice yesterday. I am watching if the 3rd test will break below.
If Tokyo morning session PA move above today' day Open Line, I would sit back and relax a little.

BTW, did Greece meet the IMF deadline?

My dear Greek friends in Sydney and Melbourne, we are behind you folks. Stay strong.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #58,471
  • Jun 30, 2015 7:21pm Jun 30, 2015 7:21pm
Quoting emmanuel7788
USDCAD D chart 1 July 2015: What do you see? Is that a possible AB = CD potential? Do your Big Picture Plan and know where the Historical Swing levels are and that will show you the way. {image}
Hi Emm.. this is what i see
its has been since the last 3 weeks, the price closed inside the PAC. And now it appears that the price movement trying to close above PAC.
BUY confirmation may be stronger if the price is able to close above the Price Action Channel or Previous Weekly High
Attached Image (click to enlarge)
Click to Enlarge Name: UCad 01072015.png Size: 31 KB
  • #58,472
  • Jun 30, 2015 7:40pm Jun 30, 2015 7:40pm
Quoting emmanuel7788
{quote} Hi Meowww, I do not trade GJ as there are better pairs to trade. New traders should stay away from this pair and learn the trade the major currency pairs - AU, EU, GU, Uj and EJ. But looking at your charts, there is an exceptional H4 candle when this week open. That is a very wide range H4 candle and we should avoid any TMS H4 setup when the PA remain withing this H4 WRB high-low. Now, take a look at the Big Picture: Monthly is bullish. Weekly also bullish. Daily - interesting we seen consolidation then gap down. The gap still not covered...
Thank u Emm, for your advice.
Do you think, GJ will go up this month
I saw TDI try to crossing down in weekly. and Daily also TDI still crossing down
  • #58,473
  • Jun 30, 2015 8:03pm Jun 30, 2015 8:03pm
[quote=TheScorpS;8356205]{quote} {quote} {quote} {quote} One answer for all , I have been trading TMS with Elliot Wave for quit sometime now but dont discuss it here so that I dont seem to shift the basic topic or complicates Trading Made Simple

Hi TSS,

Good to see we have similar analysis for EA yesterday in Asian session. DT and then price coming from OB with TDI cross. These setup usually create long moves but I was only able to captured 75 pips with two entries.

Happy trading, HR
Attached Image (click to enlarge)
Click to Enlarge Name: 2015-06-30 20_57_43-EURAUD,H1.png Size: 45 KB
  • #58,474
  • Jun 30, 2015 8:40pm Jun 30, 2015 8:40pm
EURUSD 30 Jun ME/ME trades:

Here another example how I traded EU yesterday.
The direction was follow the previous day candle which was bullish and build positions during the retracement. Take profits when opportunity present itself. Take what the market gave when the market condition is uncertain.
Note that each of the 4 positions are based on 0.2% risk each and and are of different position size using the same initial SL.

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD MEME trades closed 30 June.png Size: 50 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #58,475
  • Jun 30, 2015 8:46pm Jun 30, 2015 8:46pm
Entered GN @ 2.3091 and exited at 2.9188. Earned 100+ pips for yesterday! Am happy
Attached Image (click to enlarge)
Click to Enlarge Name: gbpnzd-m30-oanda-division7.png Size: 50 KB
  • #58,476
  • Jun 30, 2015 10:00pm Jun 30, 2015 10:00pm
Where is adikashyap? He is a very senior trader and I've learned a lot from him as well. I think last time he posted trade on 9 July after that there is no post from him.
Winners Never Quit, Quitters Never Win
  • #58,477
  • Jun 30, 2015 10:02pm Jun 30, 2015 10:02pm
Quoting TheScorpS
One answer for all , I ....my answer shed some light or helps in any way , thanks for asking {image} {image} {image}
Hi TS! thank you for explaining your strategy.
Regards,
Winners Never Quit, Quitters Never Win
  • #58,478
  • Jun 30, 2015 10:09pm Jun 30, 2015 10:09pm
Quoting emmanuel7788
EURUSD 30 Jun ME/ME trades......the same initial SL. {image}
Hi emmanuel7788! I've some questions regarding ME/ME trading. Just wanted to have your opinion on this:

  1. If I buy a certain pair on H1 TF and then switch to lower TF like M15 and when i see a tdi cross showing buy signal, i enter other position and exit when tdi crosses again or when APB color changes.
  2. Likewise, as the trade on H1 TF is on, whenever i got a buy signal on M15 i keep on adding the other positions.

Regards,

Winners Never Quit, Quitters Never Win
  • #58,479
  • Jun 30, 2015 10:43pm Jun 30, 2015 10:43pm
I would like to understand a bit more about big picture planning. For instance GBPNZD, in its monthly chart - we saw the strong trend in bullish in June but in the weekly chart - it is in extremely overbought areas with TDI hooking down. In the day chart, there is a divergence.

Is it right to analyse that the GN will continue to have strong momentum to trade up to 2.41 region - the next nearest resistance area?
Attached Image (click to enlarge)
Click to Enlarge Name: gbpnzd-mn1-oanda-division7.png Size: 56 KB
  • #58,480
  • Jun 30, 2015 10:47pm Jun 30, 2015 10:47pm
Quoting emmanuel7788
{quote} Hi TSS, very good detailed explanation how you breakdown the H1 wave into M15 and M5. I LIKE But I have a question Why did you take your trade entry on M5 wave D when you believe that there would be wave E to complete that 5-wave symmetrical triangle? I thought it would be 'safer' to see wave E complete and take the continuation since we are trading with single entry. Just studying your three timeframes chart, knowing that there is retracement possibility to form wave E, this should be the opportunity to build up positions and...
You are right to the T Emmanuel, waiting E leg to form and then enter is the safest approach or add position at wave E is another great MM

As of now EA might be on its final stage on H1 on its 5th wave which convergence with daily trend-line , my chart below and I will be looking to trade EA as I really like how its been trading
Attached Image (click to enlarge)
Click to Enlarge Name: EA_H1_EW.jpg Size: 397 KB
I Have Learned to Take Some Losses to Make Profits
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