Trading Made Simple

agree with your analyses.Trading is paying attention to details or pay with your money.
speaking of EA there is DIV show caution on bull side and get ready for action on bear side

EURAUD- WK1 D1 both closed with good momentum above an important level. IF RN-1.5000 1.4900 can hold price there will be about 300 400 pips space above. Looks like on every 100pips below RN 1.5000 are all trouble areas.

Thank you Ballistical. Your weekly analysis are always good reading over the weekends. I usually find a lots of clues. I have been trading EURAUD since last 45 weeks and now planning to branch out another pair in next few weeks. I started my live account 45 weeks ago and it has been triple now. I do have some bad weeks, poor money management etc. But again each time I stay discipline, my loses are recover pretty quickly. Since i started ME/ME on Emmanuel's advise the confidence level is much higher. I have been trying the Asian session with mix results, although I like to stick with LO till first two hours of NYO. I see some good traders contributing in thread such as "Devit" with nice looking charts and simple 10EMA/200EMA concept. There will be a lot more learning ahead for all of us.

Good luck and make tons of pips...

HR

Thank you TSS and I enjoy looking at your clean entry/exits every week. HR

RIP Eelfranz. I know this thread has been a few years back but I respect all that this man wrote and I wish I could have thank him for his help to others and the advise shared. It is so hard to find honest people who truly care and are willing to share their style on profit. As they feel that they are too good to share because sharing comes with a price attached. I will practice the method and follow and take the late eelfranz advise on the 4hr time charts, as I would never to consider to do that. I was moved and touched by Mr. Eelfranz biography on his reasons behind his trading style. Based on his theory, I am looking at past charts and reading many other threads as guides to my future success, this may take me some time as I am a Newbie to forex trading. I enjoy learning and then perfecting what I have learned through practice and of course failure but that is how you become better.

Just want to share something off beaten path.

You want to get better in Trading? Play chess! Yes I said it

You can sign up free at chess.com all levels from beginner to advance

Chess requires you to pay attention to details (trading requires paying attention to details as well)
Plan offense,defense,strategy,middle game end game MATE= $$$ in trading
Chess like real life challenges you every step and benefits your brain by making new neuron pathways essentially making you smarter every time you play it.
Please play.I play it constantly when trading waiting for set ups.I play 5min games but you can play longer games.
It is amazing looking at the chart after playing chess.It looks like child's play...not kidding

To get the most benefit from a physical workout, you need to exercise both the left and right sides of your body. Studies show that in order to play chess well, a player must develop and utilize his or her brains left hemisphere, which deals with object recognition, as well as right hemisphere, which deals with pattern recognition. Over time, thanks to the rules and technique involved in the game, playing chess will effectively exercise and develop not one but both sides of your brain.
Chess Improves Critical Thinking Skills
This one seems almost obvious, but the results of a study by Dr. Robert Ferguson has shown that 7th to 9th graders who begin playing chess received a 17% improvement in results related to good judgement and critical thinking as compared to non-chess playing peers.
Chess Preserves Mental Acuity
So are all the benefits for children with developing minds? Not at all! Chess has been shown to bolster the cognitive reserve of elderly players, which helps prevent cognitive symptoms of diseases such as dementia and Alzheimers.
Chess Improves Emotional Intelligence
Many think of chess as a game of cold calculation, but it is important to understand the game is inherently for two players. Chess has been shown to improve emotional intelligence as well as psycho-social skills according to Dr. Rose Marie Stutts of the Freedom Chess Academy.
Chess Improves Mathematical Skills
Math is often seen as a solve for X problem and nothing more, but that isnt the case. Math is about pattern-recognition, logic, and the ability to play around with variable in your head, all of which chess is known to improve.
Chess Teaches Logic and Efficiency
Chess teaches logic because you have the constraints of the board and pieces, and efficiency because youre playing competitively against an opponent with the same goal. This fosters thinking directly about the problem at hand and using the simplest solution to solve a complex problem.

1. Memory
A lot of research completed over the years on chess and memory suggest great benefits to playing. From the Education Ministry of the Moldavian Republic to a sixth-grade classroom in Pennsylvania, childrens memories have improved when playing chess. Learning chess requires you to remember the rules and the playing styles of your opponents from game to game. The more you practice, the more your brain works to build your memory. Brain scans show chess causing the growth of more dendritesthe branch-like parts of neurons used for connections. With more quality dendrites comes greater recalling ability. The best chess players in the world can recall tens of thousands of games perfectly.
2. Decreased Likelihood of Alzheimers and Dementia
Many compare the brain to a muscle. To keep a muscle strong, you need to work it out. Working out the brain means actively using it. And chess is requires a lot of brain activity. This brain activity will benefit you later in life. The New England Journal of Medicine recently found that participants over 75 were less likely to fall victim to these brain-debilitating conditions when they played chess. This is great news since, in the US alone, there are over 4 million people suffering from Alzheimers. On top of this, the Albert Einstein College of Medicine stated that chess playing also decreases the effects of dementia.
And you dont have to wait until youre 75 for the benefits. Reduce your risk of brain issues now by grabbing a board today. The pieces might be light in your hands, but your brain will feel the weight.

So my friends play it and don't worry of not being good at it.You will improve very quickly.
Think of it as food for the brain.Exercise which it needs

Yes. Buy only.
Plan, Build and Run until 1.5500.
It can be rough ride between 1.5100 to 1.5300 if you look at the swing highs and swing lows on D chart zoom out.
Next week is month end so we get a upper wick on the July MN candle because it is rare to get a Marubozu MN.

Trade Well.

Hi Emmanuel
Suppose he buys and price drops 100pips.Does he take the loss or ride it out assuming uptrend is intact.
Suppose oversold Aussie runs for 300pips south in light of weak Euro.Does one still buy?
My understanding of TMS is one goes with the flow.PA goes south we go south PA goes north we go north.It sounds like you are hinting more like position trader.
Correct me if I misunderstood you
Regards

Hi Davit

Im really like your template. Please can you it upload here?
Thx a lot.
Lazy

sure
My TDI settings are different.Once you upload you can go to TDI and press default setting.
Regards

Hi Steven,

yes, that was in week 24. After a few bullish day candles, GJ went sideways on H4 so I decided to cut 2 trades at small losses and not wait for further retracement to build up more positions to get the average price I want. Those 2 trades did not hit the technical stop loss whch was place using the 2-days look back.

regards,

Hi Emmanuel,

Thanks for updating on this GJ Trade.

In ME trading this is the one of the most important step/ decision when to stop to build position on retracement and cut the losses even before hitting the technical stop loss.

You said you noticed that H4 is sideways and you close this pair.

Please, is it possible to explain this that/scenario n on chart on what situation you took a decision that H4 4 is sideway and closed open position with small loss whereas technical SL was still away.

We learn much faster and better by seeing setup on chart

Thanks

MK


Thanks

thank you

How helps you the ema10?

Lazy

Hello Emmanuel

I learn every day your posts

Please send informations

How you determine WRB, on APB (Heiken) or JAPAN candles?

WRB appears after 3-5 smallest previous bars.
Are that previous bars must be in range of WRB?

Is Big candle same as WRB?

regards, Dan

Hi Trader MT4

check his post regarding WRB

 

1. Post 37,069

Hi Lazy
For not confusing you and others its best you trade how this system, thread is based upon.
Regards

I check GU on daily, its almost following an ABCD pattern to down side, now on H4 since divergence showed on H1 , I expect a retracment back to one of the 3 fibs level 38.2, 50% and 61.8 before a continuation to the down side, will trade both with valid TDI and PA signal , now thats and interesting chart for this coming week

Also following it with Elliot Wave and its almost in Wave C of the famous ZigZag correction

Phx62 pdf studies are in the paperclip but I thought I'd post all five studies here to make it quick and easy for anyone who wants to download them.

Thank you OS, Emmanuel7788 and TS, this GU discussion is helpful in analyzing and planning to effectively trade this pair.

Regards,

This is great for the traders who want to trade H1, though i'm feeling more comfortable to trade H4 and Dailies, less noise, less stress, but as emmanuel7788 stated many a times, required big picture planning.
Regards,