Trading Made Simple | Page 2927 | 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

  • #58,521
  • Jul 2, 2015 4:25am Jul 2, 2015 4:25am
Quoting Lookleft
Took advantage of the Aussie dive GBPAUD H1 +75 (+25 +50) {image} EURAUD H1 +75 (+25 +50) {image} Both entries at close of LO. Checking that EA had broken the 200ema
Superb LT excellent management
Sad i'm not trying to understand PA
  • #58,522
  • Jul 2, 2015 4:32am Jul 2, 2015 4:32am
Quoting omonisha
{quote} Superb LT excellent management
Thanks OS. Like you I thought EA might go higher but I can see some S/R around 1.456.
Never argue with a fool; onlookers may not be able to tell the difference.
  • #58,523
  • Jul 2, 2015 4:40am Jul 2, 2015 4:40am
Staring the new month, follow the Monthly candle, follow the Weekly candle and follow the daily candle.
Buy low, .. buy lower, ...buy lower only when there is retracement opportunity.
Always have a stop loss and when the market prove you wrong, get out fast.


Attached Image (click to enlarge)
Click to Enlarge Name: GNPNZD H1 trades 1 and 2 July.png Size: 57 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #58,524
  • Jul 2, 2015 4:42am Jul 2, 2015 4:42am
Quoting emmanuel7788
{quote} Hi Zz, what was wrong is your use of Big Boss and Boss wrongly. regards,
Could you shed some light on this Big Emm? What exactly is wrong with my analysis?

Zz
  • #58,525
  • Jul 2, 2015 4:46am Jul 2, 2015 4:46am
Quoting Lookleft
Took advantage of the Aussie dive GBPAUD H1 +75 (+25 +50) {image} EURAUD H1 +75 (+25 +50) {image} Both entries at close of LO. Checking that EA had broken the 200ema. All 3 TDI lines heading up and red and green separating on both trades.
  • #58,526
  • Jul 2, 2015 5:04am Jul 2, 2015 5:04am
Quoting hishamzz
{quote} Could you shed some light on this Big Emm? What exactly is wrong with my analysis? Zz

Your were wrong in Big Boss and Boss. Don't use these terms in TMS.

You need to define what is your Primary Trend, your Intermediate Trend and Secondary Trend.

Since we have a new month, start lookig at MN chart. what is the trend?
Then move down to the Weekly, is the Weekly in agreement with the Monthly?
Then next down to the Daily, what do you see when today market session open?
Where is your neareast support and resistance? previous day Open, High, Low and Close OHLC.
Are we near to a BRN? yes, there is 1.5600.
What happens at BRN? are there big candle and small candles, ... yes D WRB !
That D WRB low is support now and so close to BRN, sellers get out, buyers wait.

Learn the Power of Time Frames
http://www.stratsforextrading.com/do...of_time_frames

http://www.forexfactory.com/showthread.php?t=155459
this is one place I frequent a lot in the past years and learn everything about PASR and apply what I learned to TMS 5-Method.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #58,527
  • Jul 2, 2015 5:05am Jul 2, 2015 5:05am
Quoting hishamzz
Now what did i do wrong today {image} Trade criteria :- Big boss - D1 - Bearish Boss - H4 - Indecisive H1 - Bearish No WRBs in sight in all three TFs Close below PAC Entered on the close of H1 candle which broke the lows of the Asian session Away from DOL/1.56 RN Towards previous daily low (-) {image} Always check the news Please do let me know if there is anything wrong with the entry guys. Zz
Hi Zz
Where was yesterday's low and had price closed below it. Also you will need a bigger S/L on GBP pairs.
Never argue with a fool; onlookers may not be able to tell the difference.
  • #58,528
  • Jul 2, 2015 5:12am Jul 2, 2015 5:12am
Quoting hishamzz
Now what did i do wrong today {image} Trade criteria :- Big boss - D1 - Bearish Boss - H4 - Indecisive H1 - Bearish No WRBs in sight in all three TFs Close below PAC Entered on the close of H1 candle which broke the lows of the Asian session Away from DOL/1.56 RN Towards previous daily low (-) {image} Always check the news Please do let me know if there is anything wrong with the entry guys. Zz

Is it H1 chart? Where was your SL?
Attached Image (click to enlarge)
Click to Enlarge Name: 2015-07-02_16-05-53GBPUSD-H1.png Size: 49 KB
Sad i'm not trying to understand PA
  • #58,529
  • Jul 2, 2015 5:25am Jul 2, 2015 5:25am
Quoting Lookleft
{quote} Hi Zz Where was yesterday's low and had price closed below it. Also you will need a bigger S/L on GBP pairs.
Price had unfortunately not closed before it. Have highlighted that is a (-) in my trade criteria. I was actually hoping the 1.56 RN would provide adequate protection against price moving upwards. SL should be last swing plus how many pips?

Zz
  • #58,530
  • Jul 2, 2015 5:36am Jul 2, 2015 5:36am
Quoting omonisha
{quote} Is it H1 chart? Where was your SL? {image}
Hi Omonisha,

Do you consider that candle as WRB Omonisha? If so, could you please explain to me why? My SL was at the last swing high Om. You are right nevertheless as I should have waited for the bar to close below the low of the WRB you had identified.

Ramadhan Mubarak to you too!!

Thanking You,
Zz
  • #58,531
  • Edited 11:02pm Jul 2, 2015 5:41am | Edited 11:02pm
Quoting hishamzz
Now what did i do wrong today {image} Trade criteria :- Big boss - D1 - Bearish Boss - H4 - Indecisive H1 - Bearish No WRBs in sight in all three TFs Close below PAC Entered on the close of H1 candle which broke the lows of the Asian session Away from DOL/1.56 RN Towards previous daily low (-) {image} Always check the news Please do let me know if there is anything wrong with the entry guys. Zz
Hi Zz,

You shouldnt do that,
the price not break previous daily low 1.5588
that price H1 just close at 1.5589 (reject the 1.5588)

maybe its the problem

what you should do is, wait for the price close below 1.5581 for SELL
and wait the price close above 1.5618 for BUY
with stop loss max 50 pips and take profit around 30-50-60 pips
Risk : Reward = 1:1

lets wait for next hours
  • #58,532
  • Jul 2, 2015 5:47am Jul 2, 2015 5:47am
Quoting hishamzz
{quote} Price had unfortunately not closed before it. Have highlighted that is a (-) in my trade criteria. I was actually hoping the 1.56 RN would provide adequate protection against price moving upwards. SL should be last swing plus how many pips? Zz
Hi Zz
I actually use an emergency S/L of 50 pips and reduce it as price moves. I would have been ready to get out if price had broken the point that OS indicated (WRB). If I wasn't using this I'd have placed my S/L about 15-20 pips above the PAC.
Having just looked at the chart, see where price rejected. If I was in the trade I'd hang tough and watch what price does and either get some pips or exit with the lowest loss.
Never argue with a fool; onlookers may not be able to tell the difference.
  • #58,533
  • Jul 2, 2015 6:04am Jul 2, 2015 6:04am
Quoting hishamzz
{quote} Hi Omonisha, Do you consider that candle as WRB Omonisha? If so, could you please explain to me why? My SL was at the last swing high Om. You are right nevertheless as I should have waited for the bar to close below the low of the WRB you had identified. Ramadhan Mubarak to you too!! Thanking You, Zz
Yes i consider this as WRB. Price ranging within it's hi lo without breaking either side and close above or below.
Sad i'm not trying to understand PA
  • #58,534
  • Jul 2, 2015 7:09am Jul 2, 2015 7:09am
Thanks for your replies and valuable insights brekz1, lookleft and omonisha. I see that GU is teasing me by going in my intended direction after taking me out

Big Emm - hoping for advice on big boss/boss analysis. when you find the time

Zz
  • #58,535
  • Jul 2, 2015 8:25am Jul 2, 2015 8:25am
EU lost -93 pips @0.03 (on live micro acc.) Seniors comments plz, wanted to learn from mistakes.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDDaily.png Size: 46 KB
Winners Never Quit, Quitters Never Win
  • #58,536
  • Jul 2, 2015 8:33am Jul 2, 2015 8:33am
Quoting hsn100
EU lost -93 pips @0.03 (on live micro acc.) Seniors comments plz, wanted to learn from mistakes. {image}
You were trading EU on the very day of the NFP. The NFP is hot hot news which usually have the market go into a tight range and at the time of the news, might go at full speed in a single direction or else spike to both sides (which happened today).
You could also notice the WRB D candle, the 3rd candle back from your entry candle. Usually if there is a WRB on the D timeframe, you ought to trade the lower time frames until price breaks out of that range.

Plus if you are trading the D timeframe, your SL will need to be much larger to adjust to market news.
Instaforex is not the best broker there is too

Hope this helps.. based on my limited experience.

Zz
  • #58,537
  • Jul 2, 2015 8:36am Jul 2, 2015 8:36am
Quoting LvCa
{quote} Hi LooKleft , all ADX in all TF are vey powerful (short) ... Uhm , i don't know if i have understand correctly ( it' not my lenguage) , but i think that under or over 32 / 68 is a more good signal that tell me that this cross is OK ----> no point of stop entries , but MORE entries ( for me ) , in a few word : for me that liverls are good livels for a continuation trend . Example Daily and weekly , down of 32 . {image} GL for all . PS : in trade sice 8th may ?! So mutch compliments (i hope you are in real :-D , me no , i...

Can you send me the advanced adx indicator as i could not find it anywhere,i need the one shown in your chart
  • #58,538
  • Jul 2, 2015 8:47am Jul 2, 2015 8:47am
Quoting hsn100
EU lost -93 pips @0.03 (on live micro acc.) Seniors comments plz, wanted to learn from mistakes. {image}
I am no senior just sharing my view you are trading straight to S/R [ look left ]. No room for price to move. Many times EMU mentioned when big candle appears it is better trading lower TF targeting the hi lo of that big candle. No good PA at this area
Attached Image (click to enlarge)
Click to Enlarge Name: 2015-07-02_19-34-33EURUSD-D1.png Size: 42 KB
Sad i'm not trying to understand PA
  • #58,539
  • Jul 2, 2015 9:00am Jul 2, 2015 9:00am
Quoting omonisha
{quote} I am no senior just sharing my view you are trading straight to S/R [ look left ]. No room for price to move. Many times EMU mentioned when big candle appears it is better trading lower TF targeting the hi lo of that big candle. {image}
Hi OS! Thnx for helping me in finding out my mistakes, got it in true letter and spirit. In this case,

  1. WRB (should be treated at LTF)
  2. and S/R to the left.

Regards,

Quote
hishamzz You were trading EU....
thnx hishamzz, my sl was more than 140 but after "news effect" stopped manually to cut my losses to minimum.
Winners Never Quit, Quitters Never Win
  • #58,540
  • Jul 2, 2015 9:11am Jul 2, 2015 9:11am
Quoting hsn100
{quote} Hi OS! Thnx for helping me in finding out my mistakes, got it in true letter and spirit. In this case, WRB (should be treated at LTF) and S/R to the left. Regards, {quote} thnx hishamzz, my sl was more than 140 but after "news effect" stopped manually to cut my losses to minimum.
Here i am in AUDJPY-D1. Almost same situation. We pick the one has more probability
Attached Image (click to enlarge)
Click to Enlarge Name: 2015-07-02_19-59-23AUDJPY-D1.png Size: 50 KB
Sad i'm not trying to understand PA
36 traders viewing now