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Monitor for 'Trading Made Simple' system 565 replies

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Trading Made Simple system follower - Thanks to eelfranz 9 replies

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Trading Made Simple

  • #61,421
  • Oct 13, 2015 5:19am Oct 13, 2015 5:19am
Quoting emmanuel7788
{quote} Try questioning yourself these below about that H1 trade setup: When wanting to enter a TDI trade... take a moment first to observe basic 4x things... like: How close am I to the previous high or lo Am I in an uptrend or downtrend.. short & long term... Am I in or close to a consolidation area Are the previous candles small... Look at the candles on the last reversal... big, little, what How does the momentum look right now (12-2, 4-6) Does Stoch's confirm the TDI signal Sounds like a lot of stuff but it's basic stuff and only takes a moment...

Yeah, I have. Have the pdf printed off with all eelfranz's comments in and examples. Time and time again he shows similar sorts of setups to what I have traded. Basically is mantra is keep it simple, don't over think, if there is a signal and Price action is supportive then pull the trigger. I did.

If you zoom out and look at the charts on the H1 and H4 what is happening? - they are both moving into resistance - the prior highs. Clear on both charts. Eelfranz has also commented on numerous times he loves shorting at the 68 level if things stack up. He says that it is so reliable. Well my question is please point to what is NOT stacking up? I've outlined my case for the trade; price action does seem to be supportive, bars are not small and opening up, we are not consolidating or in a tight range, angle of green line is good, we have a cross over, we are close to a recent high which should offer resistance and a good place for a SL.

Odds seem very much in favour at the time. What would be your reason for not?
*** Shoot for the moon. Even if you miss, you'll land among the stars. ***
  • #61,422
  • Oct 13, 2015 5:37am Oct 13, 2015 5:37am
Quoting omonisha
GBPJPY-D1..Pin Bar then an IB Break {image}
That's fabulous trade OS.....
Winners Never Quit, Quitters Never Win
  • #61,423
  • Oct 13, 2015 5:40am Oct 13, 2015 5:40am
Quoting Freefox
{quote} Yeah, I have. Have the pdf printed off with all eelfranz's comments in and examples. Time and time again he shows similar sorts of setups to what I have traded. Basically is mantra is keep it simple, don't over think, if there is a signal and Price action is supportive then pull the trigger. I did. If you zoom out and look at the charts on the H1 and H4 what is happening? - they are both moving into resistance - the prior highs. Clear on both charts. Eelfranz has also commented on numerous times he loves shorting at the 68 level if things...
Did you have a valid sell signal on H4? I see no red candles during that big upward movement. I see blue candles only. I see TDI pointing up, not down. Wait for a big red one, closing under the 10EMA or 5EMA shift 3, or 5 channel, whichever you use, wait for the TDI to change direction, and then go to LTF and look for a valid sell signal. I do not know how others see it, but that's how I see this trade. I hope that helps.
  • #61,424
  • Oct 13, 2015 5:44am Oct 13, 2015 5:44am
Quoting Freefox
{quote} Can you please clarify as I'm still very much learning I thought I was doing exactly what eelfranz was directing people to do - Keep it Simple.......to learn more. {image}
Hi Freefox! Look at your chart and look at the tdi angle, it is flattened (horizontal). What the BigE in his posts wrote about flat tdi angle?
Winners Never Quit, Quitters Never Win
  • #61,425
  • Oct 13, 2015 5:49am Oct 13, 2015 5:49am
Quoting catalin_eros
{quote} Did you have a valid sell signal on H4? I see no red candles during that big upward movement. I see blue candles only. I see TDI pointing up, not down. Wait for a big red one, closing under the 10EMA or 5EMA shift 3, or 5 channel, whichever you use, wait for the TDI to change direction, and then go to LTF and look for a valid sell signal. I do not know how others see it, but that how I see this trade. I hope that helps.

Thanks for the reply but I wasn't trading on the H4. I am trading off the H1.

When eelfranz was trading on either H1 or H4 he didn't go up a level and say "and is there a signal on that level too?". His rules didn't include that. No, instead his ethos was does the Price Action support the trade on the time-frame you are trading? On H1 (where the TDI green crossover signal appeared) the price action does as I outlined previously. Plus even on the H4 tf the price action is a retrace into a long term downtrend and coming up against key resistance (the last major high to the left).

So there is a clear case for saying Price Action is supportive of a short. I'm basically just asking is there anything I have overlooked when taking the trade? At the moment I've not seen a clear argument against what I have done so I am concluding it is just one of those losses you have to accept (no big deal). Unless you want to add other rules which are not part of eelfranz' initial system.
*** Shoot for the moon. Even if you miss, you'll land among the stars. ***
  • #61,426
  • Oct 13, 2015 5:54am Oct 13, 2015 5:54am
Quoting hsn100
{quote} Hi Freefox! Look at your chart and look at the tdi angle, it is flattened (horizontal). What the BigE in his posts wrote about flat tdi angle?

Not on the second bar when I entered the trade it wasn't. It was a perfect angle. It only flatten on the subsequent bar providing a warning that it would probably not work out :-)
*** Shoot for the moon. Even if you miss, you'll land among the stars. ***
  • #61,427
  • Oct 13, 2015 5:55am Oct 13, 2015 5:55am
EA H1 long at LO with TDI bounce off Red on H1 after breaking bullish flag, + 50 pips
Attached Image (click to enlarge)
Click to Enlarge Name: EA_H1.png Size: 58 KB
I Have Learned to Take Some Losses to Make Profits
  • #61,428
  • Oct 13, 2015 6:01am Oct 13, 2015 6:01am
Quoting Freefox
{quote} Yeah, I have. Have the pdf printed off with all eelfranz's comments in and examples. Time and time again he shows similar sorts of setups to what I have traded. Basically is mantra is keep it simple, don't over think, if there is a signal and Price action is supportive then pull the trigger. I did. If you zoom out and look at the charts on the H1 and H4 what is happening? - they are both moving into resistance - the prior highs. Clear on both charts. Eelfranz has also commented on numerous times he loves shorting at the 68 level if things...
Another very important thing to remember is, if it has gone up or down for a long time, or a big move up or down, always expect consolidation for a while.
  • #61,429
  • Oct 13, 2015 6:04am Oct 13, 2015 6:04am
Quoting Freefox
{quote} Yeah, I have. Have the pdf printed off with all eelfranz's comments in and examples. Time and time again he shows similar sorts of setups to what I have traded. Basically is mantra is keep it simple, don't over think, if there is a signal and Price action is supportive then pull the trigger. I did. If you zoom out and look at the charts on the H1 and H4 what is happening? - they are both moving into resistance - the prior highs. Clear on both charts. Eelfranz has also commented on numerous times he loves shorting at the 68 level if things...

you still have not asked those same question what eelfranz wrote in Post#647 and apply them on your H1 chart.

keep its simple in the way you want to. Good luck.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #61,430
  • Oct 13, 2015 6:13am Oct 13, 2015 6:13am
Quoting Freefox
{quote} Thanks for the reply but I wasn't trading on the H4. I am trading off the H1. When eelfranz was trading on either H1 or H4 he didn't go up a level and say "and is there a signal on that level too?". His rules didn't include that. No, instead his ethos was does the Price Action support the trade on the time-frame you are trading? On H1 (where the TDI green crossover signal appeared) the price action does as I outlined previously. Plus even on the H4 tf the price action is a retrace into a long term downtrend and coming up against key resistance...
Big E had his own style, which may not apply to the nowadays market , because the markets are always changing, as I was taught by two well-known traders, Nenad Kerkez and Chris Svorcik. So what may have worked a few years ago, might not work today. Big E had a sixth sense, thanks to his thousands of hours of monitoring the charts. On another note, I do not know if there are traders who trade the exact same way as Big E did. Big Emm certainly doesn't, TheScorps doesn't, Omonisha doesn't, LookLeft doesn't, Ballistical doesn't... Anyone of them, feel free to correct me if I said anything inaccurate. They all trade variations of the same method, because the markets have changed since the thread started. Just my opinion.
  • #61,431
  • Edited 6:33am Oct 13, 2015 6:20am | Edited 6:33am
Quoting emmanuel7788
{quote} you still have not asked those same question what eelfranz wrote in Post#647 and apply them on your H1 chart. keep its simple in the way you want to. Good luck.

Ahhh, but I have and categorized my list of reason's for taking the trade. I was very specific rather than just generalise. And to further highlight my thought process, look at the chart now on USDCAD below; it has given a signal in the opposite direction (ie. a green cross over to go long). Now if you are saying I shouldn't have taken the prior short does that mean that this new signal is the reason to go long? I certainly don't think so and if you agree that it isn't a good long than surely that is confirming my reasoning why the short at least had some justification in the first place - Price Action! So what is it - a good short or good long entry? Interested in your justification one way or another so I can see what you are putting the emphasis on.

Attached Image
*** Shoot for the moon. Even if you miss, you'll land among the stars. ***
  • #61,432
  • Oct 13, 2015 6:26am Oct 13, 2015 6:26am
Quoting catalin_eros
{quote} Big E had his own style, which may not apply to the nowadays market , because the markets are always changing, as I was taught by two well-known traders, Nenad Kerkez and Chris Svorcik. So what may have worked a few years ago, might not work today. Big E had a sixth sense, thanks to his thousands of hours of monitoring the charts. On another note, I do not know if there are traders who trade the exact same way as Big E did. Big Emm certainly doesn't, TheScorps doesn't, Omonisha doesn't, LookLeft doesn't, Ballistical doesn't... Anyone of...

That's interesting and very useful to me. Basically it is saying the "Trading Made Simple" system can't be merely taking eelfranz's simple rules he provided and trading them "as is" any more. There is more to it. Which means it is no longer a simple set of rules, but is used as a framework for each trader to add to as they see fit. Takes away a bit of the attraction really if that is true. Is that how the experienced ones see it?
*** Shoot for the moon. Even if you miss, you'll land among the stars. ***
  • #61,433
  • Oct 13, 2015 6:28am Oct 13, 2015 6:28am
Quoting stefan17
{quote} Another very important thing to remember is, if it has gone up or down for a long time, or a big move up or down, always expect consolidation for a while.

Actually I think you are right. Probably that is reason on it's own to be wary and maybe wait for better trades. Thanks
*** Shoot for the moon. Even if you miss, you'll land among the stars. ***
  • #61,434
  • Oct 13, 2015 7:02am Oct 13, 2015 7:02am
Quoting Freefox
{quote} That's interesting and very useful to me. Basically it is saying the "Trading Made Simple" system can't be merely taking eelfranz's simple rules he provided and trading them "as is" any more. There is more to it. Which means it is no longer a simple set of rules, but is used as a framework for each trader to add to as they see fit. Takes away a bit of the attraction really if that is true. Is that how the experienced ones see it?
I only use the system the way it was taught by Eelfranz, and I dont do to bad, I did hundreds of hours of back testing on 2015 markets, and it still works just as well as it did a few years ago for me!!
  • #61,435
  • Oct 13, 2015 7:12am Oct 13, 2015 7:12am
Quoting Freefox
{quote} Ahhh, but I have and categorized my list of reason's for taking the trade. I was very specific rather than just generalise. And to further highlight my thought process, look at the chart now on USDCAD below; it has given a signal in the opposite direction (ie. a green cross over to go long). Now if you are saying I shouldn't have taken the prior short does that mean that this new signal is the reason to go long? I certainly don't think so and if you agree that it isn't a good long than surely that is confirming my reasoning why the short...
When you trade in narrow range consolidation market that's when many trade setups will fail.

Attached Image (click to enlarge)
Click to Enlarge Name: FreeFox USDCAD H1 13 Oct.png Size: 40 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #61,436
  • Oct 13, 2015 7:13am Oct 13, 2015 7:13am
Quoting stefan17
{quote} I only use the system the way it was taught by Eelfranz, and I dont do to bad, I did hundreds of hours of back testing on 2015 markets, and it still works just as well as it did a few years ago for me!!
That's good to know :-)
*** Shoot for the moon. Even if you miss, you'll land among the stars. ***
  • #61,437
  • Oct 13, 2015 7:20am Oct 13, 2015 7:20am
GBPNZD-H4.. OutSide Bar retrace entry
Attached Image (click to enlarge)
Click to Enlarge Name: 2015-10-13_18-17-38GBPNZD-H4.png Size: 42 KB
Sad i'm not trying to understand PA
  • #61,438
  • Oct 13, 2015 7:21am Oct 13, 2015 7:21am
Quoting catalin_eros
{quote} Big E had his own style, which may not apply to the nowadays market , because the markets are always changing, as I was taught by two well-known traders, Nenad Kerkez and Chris Svorcik. So what may have worked a few years ago, might not work today. Big E had a sixth sense, thanks to his thousands of hours of monitoring the charts. On another note, I do not know if there are traders who trade the exact same way as Big E did. Big Emm certainly doesn't, TheScorps doesn't, Omonisha doesn't, LookLeft doesn't, Ballistical doesn't... Anyone of...

The method remains the same 5-Method and nothing changed. We are all discretionary trend traders. Our discretion is based on our own knowledge and market trading experience.
We are price action traders and most of us have gained more experience in the recent years have surpassed Big E' experience up to the time he stopped posting in 2011.
But the 5-Method must be kept simple by using only one TDI in the sub-window and the Average Price Bar on the price chart above.
Like Big E, he looked at Japanese candlestick charts alongside his trading charts, but I look at Price Bar charts which is the same.
The distinction between how Big E traded and how the current group of traders trade is in the way we read Price Action.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #61,439
  • Oct 13, 2015 7:29am Oct 13, 2015 7:29am
Quoting emmanuel7788
GBPAUD 13 Oct H4 A+++ trade setup simple and clear Price Action at Support and Resistance. {image}
Did you enter this trade and if so, how are you handeling the current movement of this pair?
  • #61,440
  • Oct 13, 2015 7:41am Oct 13, 2015 7:41am
Quoting Freefox
{quote} That's interesting and very useful to me. Basically it is saying the "Trading Made Simple" system can't be merely taking eelfranz's simple rules he provided and trading them "as is" any more. There is more to it. Which means it is no longer a simple set of rules, but is used as a framework for each trader to add to as they see fit. Takes away a bit of the attraction really if that is true. Is that how the experienced ones see it?
What I am trying to say is that many look at PCRF, others have 200 EMA, others add the 50 also, others still use the MBL, others trade using 3 TFs, others look at RN,... Big E was focused on 1st and 2nd APB candle for entry, 5 EMA shift +3, and TDI crossing with the right angle. His rules seem very simple, but nowadays traders look for other things in addition to these rules, before entering a trade.
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