Trading Made Simple | Page 3015 | 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

  • #60,281
  • Sep 3, 2015 8:57pm Sep 3, 2015 8:57pm
Quoting catalin_eros
{quote} When H1 TDI crosses up, of course. I asked a similar question about trend a few pages ago, but I haven't received an answer. So I'll ask it again: If the H4 shows PA in an uptrend, but it is not supported by TDI (let's say it is down, or it is pointed up, but has not crossed up yet), is this a good time to go to H1 and look for buy signals? Or I should wait for the H4 TDI to be in agreement with the H4 trend, meaning that there has to be a bullish APB closed candle with crossed up TDI on H4 to be a valid up trend?
trading is very visual and we need to look at the chart and look at the big picture.

the big picture will tell you plenty and show the 10 things what I look for:
the Price Action, big candles, small candles, candlestick/price bar patterns, WRB,MC, IB, BEEB, BUEB, BUOB, BEOB.
what is the dominant Trend, and if the trend is not clear, what shall I use for trade bias in a sideways ranging market type,
does Multi-Time Frame analysis and reconciliation support my trade bias, (use Triple Screen technique)
is there price Momentum seen in the set up,
is the PA at or near Support and Resistance, is there room for scaling out, breakeven, take profit with favourable R:R.
if that is a reversal set up, can I trade and/or scale-in during Continuation after the new trend is established,
is there market Volatility for the trade setup to move,
what is the overall Market Strength, is there room for further move, or any sign of market exhuastion.
what is the Range of the swing in that timeframe I trade,
what is the market Timing (news, events, market session opening/closing time, etc.)

question your thoughts about the market all the time.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #60,282
  • Sep 3, 2015 8:59pm Sep 3, 2015 8:59pm
Quoting shay14
just entered long on gold https://charts.mql5.com/8/738/goldmi...g-point-of.png valid?

XAUUSD is best traded using EOD like investors do.

EOD=End Of Day, i.e. we use D1 chart.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #60,283
  • Sep 4, 2015 12:15am Sep 4, 2015 12:15am
Evening to all.

Would be selling this a bad idea?

Regards.
Attached Image (click to enlarge)
Click to Enlarge Name: NzdChf.jpg Size: 146 KB
  • #60,284
  • Sep 4, 2015 1:13am Sep 4, 2015 1:13am
Quoting emmanuel7788
{quote} trading is very visual and we need to look at the chart and look at the big picture. the big picture will tell you plenty and show the 10 things what I look for: the Price Action, big candles, small candles, candlestick/price bar patterns,
.
Do you think this is the best way to answer a question?

answering a question with a question doesn't benefit anyone BUT it will surely make sense to you.
  • #60,285
  • Sep 4, 2015 1:15am Sep 4, 2015 1:15am
Trade safe today. Don't give any pips back to NFP !

Attached Image (click to enlarge)
Click to Enlarge Name: Unbenannt.png Size: 33 KB
Best regards, Zef
  • #60,286
  • Sep 4, 2015 1:30am Sep 4, 2015 1:30am
Quoting yuki0912
{quote} NFP?
Non Farm Payroll. Big US data release that usually has a very high impact on the market.
Never argue with a fool; onlookers may not be able to tell the difference.
  • #60,287
  • Edited 2:42am Sep 4, 2015 1:57am | Edited 2:42am
Quoting yuki0912
{quote} Good trade Look Left. But can you show me h4 chart at that time? Thanks
Hi Yuki,
You can check my entry using your own charts. However, this was not a normal trade but a news trade. There was a TMS setup forming which can indicate that the market has decided what its direction will be after the news. As the USD had fallen it was possible that AUDUSD would rise thereby pushing EURAUD down. I entered 10 minutes after the news event.
Knowing how pairs react to each other can be a great help. For instance I trade EURUSD and GBPUSD and if they are moving in opposite directions I will also trade EURGBP.
Never argue with a fool; onlookers may not be able to tell the difference.
  • #60,288
  • Sep 4, 2015 3:05am Sep 4, 2015 3:05am
Quoting dbest
{quote} Do you think this is the best way to answer a question? answering a question with a question doesn't benefit anyone BUT it will surely make sense to you.

Yes... and you missed the purpose in the way I replied.

It may not benefit Anyone who expects to be spoon-fed.
And it may not benefit Everyone.
But I know that it will benefit Someone.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #60,289
  • Sep 4, 2015 3:09am Sep 4, 2015 3:09am
UJ, AU, EJ and GJ.

I am sure some of you made good money from yesterday's move and today follow through.
Time to take profit and walk away. Don't risk your profits when we have NFP today.

Trade Safe!
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #60,290
  • Sep 4, 2015 3:17am Sep 4, 2015 3:17am
Quoting AlansGS777
Evening to all. Would be selling this a bad idea? Regards. {image}
Hi Alan,

I don't have my chart for this pair becasue I removed all the CHF pairs from my Market Watch list.
But just by looking at your chart, I recall Big E mentioned few times that he look at previous price swings and the level of the TDI where the previous swings took place.
Seems like this may be a good setup for a new swing trade as there were two previous reversal swings around the 5-level.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #60,291
  • Sep 4, 2015 3:18am Sep 4, 2015 3:18am
This is gold!



Guys, print this out and go throught the list before any entry, you should be able to avoid a lot of pitfalls!
It's on my wall

Trade safe today






Quoting emmanuel7788
{quote} trading is very visual and we need to look at the chart and look at the big picture. the big picture will tell you plenty and show the 10 things what I look for: the Price Action, big candles, small candles, candlestick/price bar patterns, WRB,MC, IB, BEEB, BUEB, BUOB, BEOB. what is the dominant Trend, and if the trend is not clear, what shall I use for trade bias in a sideways ranging market type, does Multi-Time Frame analysis and reconciliation support my trade bias, (use Triple Screen technique) is there price Momentum seen in the set...
  • #60,292
  • Sep 4, 2015 3:19am Sep 4, 2015 3:19am
Quoting emmanuel7788
{quote} trading is very visual and we need to look at the chart and look at the big picture. the big picture will tell you plenty and show the 10 things what I look for: the Price Action, big candles, small candles, candlestick/price bar patterns, WRB,MC, IB, BEEB, BUEB, BUOB, BEOB. what is the dominant Trend, and if the trend is not clear, what shall I use for trade bias in a sideways ranging market type, does Multi-Time Frame analysis and reconciliation support my trade bias, (use Triple Screen technique) is there price Momentum seen in the set...
Hey, Big Emm!
Thanks for your answer!
Very helpful, as usual.
I wish you a wonderful weekend ahead!
  • #60,293
  • Sep 4, 2015 3:41am Sep 4, 2015 3:41am
Quoting dbest
{quote} Do you think this is the best way to answer a question? answering a question with a question doesn't benefit anyone BUT it will surely make sense to you.
I am also kind of person who answering a question with question(s).
Do you know why?
Because it will make the questioner to think, then become understanding, and that "understanding will blend into blood and flesh".
Well...
  • #60,294
  • Sep 4, 2015 3:55am Sep 4, 2015 3:55am
Dear Emmanuel,
Everybody who have just read 2 pages of this thread knows that your support and help here is just awesome.

To summarise... THANK YOU AGAIN!

Quoting emmanuel7788
{quote} Yes... and you missed the purpose in the way I replied. It may not benefit Anyone who expects to be spoon-fed. And it may not benefit Everyone. But I know that it will benefit Someone.
  • #60,295
  • Sep 4, 2015 3:55am Sep 4, 2015 3:55am
Quoting dbest
{quote} Do you think this is the best way to answer a question? answering a question with a question doesn't benefit anyone BUT it will surely make sense to you.
Hi dbest! Just wanted to share my experience with you.

I'm an educationist basically and have several years of experience, i have found "questioning" as one of the best method of conveying the things (concepts) to my students. Questioning inculcate the research desire, and Research is a gateway to knowledge, wisdom and comprehension.

Just my opinion
Winners Never Quit, Quitters Never Win
  • #60,296
  • Sep 4, 2015 4:04am Sep 4, 2015 4:04am
Quoting Lookleft
{quote} Hi tibovwh, Excellent post and some points that all new traders should take note of but you seem to be addressing. The harsh facts are. 1. "I'm giving myself enough time to learn the system" - 90% of new traders don't do this. They blindly follow what is written here without understanding 2. " I always have a tendency to overtrade" - 90% of new traders do this. They just repeat the same mistakes. And unfortunately 1 + 2 = 90% of new traders fail and blame the method. As for a trading plan, only you can write that as it is very dependent...

Thx LL !

It's really quiet on EURAUD at the moment and I'm trying to set up some indicators on my own platform like the ADR up/down , MC, IB ... I must admit tho that after all that has been said about some of these patterns, their definition is still not 100% clear to me. Therefor, before I start programming what I want, I would like to verify my study notes. Below is a copy of what I made a while back.

Do you agree with the definitions I wrote down? Are the charts correct examples? Am I missing something important?

Appreciate any feedback!

In addition to the above, I have another question regarding the 4H HI / LO indicator that a few of the 1H TMS traders seem to have. It's not completely clear to me how this is incorporated into the entries? Do you wait for a break / close above the prev 4H HI/LO? Do you look at the range of prev 4H? Do you trade between HI/LO? Thanks in advance!

Best,
Attached Image (click to enlarge)
Click to Enlarge Name: Schermafdruk 2015-09-04 11.53.10.png Size: 50 KB
  • #60,297
  • Sep 4, 2015 5:01am Sep 4, 2015 5:01am
Quoting tibovwh
{quote} Thx LL ! It's really quiet on EURAUD at the moment and I'm trying to set up some indicators on my own platform like the ADR up/down , MC, IB ... I must admit tho that after all that has been said about some of these patterns, their definition is still not 100% clear to me. Therefor, before I start programming what I want, I would like to verify my study notes. Below is a copy of what I made a while back. Do you agree with the definitions I wrote down? Are the charts correct examples? Am I missing something important? Appreciate any feedback!...
Hi tibovwh,
You are falling into a trap
Ask yourself the question, have I every made a successful trade without indicators that show ADR, MC, IB, direction of solar wind etc. If the answer is yes then why clutter the chart. Look at trades posted by Ballistical, TheScorpS, Omonisha, even mine. How many indicators do you see?
Remember that indicators show what price has done. Our 2 universal indicators (the grey stuff between the ears and our eyes) will tell us what price is doing and help us predict what price will do. Also for every indicator you must have a rule and you are going to have a lot of rules to confuse yourself.
Stick to the basics, a clean chart, a keen eye and practice.
cheers
Never argue with a fool; onlookers may not be able to tell the difference.
  • #60,298
  • Sep 4, 2015 5:31am Sep 4, 2015 5:31am
Read in earlier posts about DOTS system. Does anybody have any idea how the levels are calculated for each session?

Thanks
  • #60,299
  • Sep 4, 2015 6:35am Sep 4, 2015 6:35am
Quoting Lookleft
{quote} Hi tibovwh, You are falling into a trap Ask yourself the question, have I every made a successful trade without indicators that show ADR, MC, IB, direction of solar wind etc. If the answer is yes then why clutter the chart. Look at trades posted by Ballistical, TheScorpS, Omonisha, even mine. How many indicators do you see? Remember that indicators show what price has done. Our 2 universal indicators (the grey stuff between the ears and our eyes) will tell us what price is doing and help us predict what price will do. Also for every...


You're probably right LL, I have always been very focused on my layout which sometimes distracts me from making good decision. It's deffinatly something I need to be wary off so it's worth thinking about. Forgive me that i start a small discussion about this !

I have added an example of my chart how it looks at this moment. Keep in mind that I have decided to trade with a broker that offers this platform that I will use. I know this might not be ideal for posting charts. This also means that I can't just use the stuff in the thread's attachment but I've thought about the broker and they seem a pretty good choice. The biggest problem is that i haven't fully decided and written down a set of rules for my trading. When I have these rules, my chart should be stripped down to the bare minimum, as you are saying. I'm working on my plan and I want to go through a large history of 1H EUR/AUD soon. But I wanted to have some of the stuff on my chart for this backtest, in order to see what works and characterise the best trades to make a set of rules. Does this make sense? Or should I just go through the history with clean chart?

A lot of the stuff i'm placing on my chart right now is not really distorting any information i think but only visualizing with a line i.e. Daily Open Line, Yesterday High / Low. This last one is drawn on a lot of the charts I see. But it's not entirely clear how it's used. Am I right that it's often to exit when PA stalls? Or do you trade breakouts of the yesterday's range too?

ADR Projection up and down is also just a line as potential exit. This should surely be removed if I don't use it, but I wanted to see if it could help my exits. Does anyone use this is his system and if so, could you give some pointers to how exactly?

I was thinking about a Prev 4H High / Low which is also something I see regularly on charts here. I'm not going to start programming this until I understand how this is used by some of the traders here and until I've tested this a bit myself. Would anyone care to give some pointers?

My question about the MC/WRB definition was to verify the correct definition. I am most probably going to program this anyway. Ofcourse, this can be seen visually and perhaps I should just use my brain to spot them. But I also have a layout with 4H/D/W Chart next to eachother set up in addition to my 1H. Defining the markettype is crucial i think and a MC/WRB can help spot these types.

I'm still unsure on the NR4IB Indicator at the moment. It seems to offer some possibilities for continuation trades or reversals but more often then not these bars appear outside my trading hours (after New York close). I will consider changing this to a simple IB indication if I feel it's not helping me.


Appreciate your feedback! Best,
Attached Image (click to enlarge)
Click to Enlarge Name: Schermafdruk 2015-09-04 13.31.54.png Size: 101 KB
  • #60,300
  • Sep 4, 2015 7:29am Sep 4, 2015 7:29am
If i use H1 and H4 which types of other timeframes i must see?
110 traders viewing now