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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

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Trading Made Simple

  • #61,441
  • Oct 13, 2015 7:44am Oct 13, 2015 7:44am
Quoting catalin_eros
{quote} What I am trying to say is that many look at PCRF, others have 200 EMA, others still use the MBL, others trade using 3 TFs... 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.
From what im seeing and experiencing all u need in addition to the simple method is the correct ability to identify s/r levels on any TF
Scared money DON'T make money!
  • #61,442
  • Oct 13, 2015 7:45am Oct 13, 2015 7:45am
Scalped the EUR/CHF and GBP/USD for a quick 18 pips
  • #61,443
  • Oct 13, 2015 8:06am Oct 13, 2015 8:06am
Hi all,

My monitor gave a signal on GBPCAD 4H. Who would consider this trade? Why / Why not? Feedback appreciated.

Best,
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  • #61,444
  • Oct 13, 2015 8:08am Oct 13, 2015 8:08am
Quoting tibovwh
Hi all, My monitor gave a signal on GBPCAD 4H. Who would consider this trade? Why / Why not? Feedback appreciated. Best, {image}
I think I should wait for more confirmation on the daily chart. Also I want to see the green TDI line under the yellow line, for more confirmation.
  • #61,445
  • Oct 13, 2015 8:11am Oct 13, 2015 8:11am
Quoting omonisha
GBPNZD-H4.. OutSide Bar retrace entry {image}
Great trade Os , It looks like you took the trade just on PA as TDI has not crossed ( but does have a V reversal )
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, can you confirm please or maybe I have it all completely wrong . I feel that TdI is sometimes a bit of a hindrance rather than a help , and I notice that my TDI is flat , don't look at all like yours .
  • #61,446
  • Oct 13, 2015 8:17am Oct 13, 2015 8:17am
Quoting tibovwh
Hi all, My monitor gave a signal on GBPCAD 4H. Who would consider this trade? Why / Why not? Feedback appreciated. Best, {image}
180 pip stop approx and only 100 pips to the last low if the trade works, its not a trade I would take, certainly not on H4 anyway.
  • #61,447
  • Oct 13, 2015 8:21am Oct 13, 2015 8:21am
Quoting omonisha
GBPNZD-H4.. OutSide Bar retrace entry {image}
Nice one on OB, I missed EA OB at NYO +1 and in a candle made that 50 pips , well done
I Have Learned to Take Some Losses to Make Profits
  • #61,448
  • Oct 13, 2015 8:26am Oct 13, 2015 8:26am
@Smika @LW

Indeed, have not taken the trade. My big picture was pretty bearish for GBPCAD but chart just didn't look right. Daily should choose direction first I assume!

Best,
  • #61,449
  • Oct 13, 2015 8:37am Oct 13, 2015 8:37am
Quoting tibovwh
Hi all, My monitor gave a signal on GBPCAD 4H. Who would consider this trade? Why / Why not? Feedback appreciated. Best, {image}
price action support seen to the left and confluence with BRN 1.9800.
APB#1 is too big a candle to chase after unless you can get a retacement entry in APB#2, but then there is support below not much room.
bounce from BRN can e 50 to 100pips.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #61,450
  • Oct 13, 2015 8:39am Oct 13, 2015 8:39am
Quoting coldvinc
{quote} Did you enter this trade and if so, how are you handeling the current movement of this pair?

its chopping so I am managing my buy ME/ME trades.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #61,451
  • Oct 13, 2015 8:47am Oct 13, 2015 8:47am
A trader asked me about the OB on EA , here its below, I added 4H and M15 chart to see how this should be traded
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I Have Learned to Take Some Losses to Make Profits
  • #61,452
  • Oct 13, 2015 10:00am Oct 13, 2015 10:00am
Close half my position on my first trade using the system for 27 pips

Possibly may have entered a bit prematurely but looked good to me so took it (and exited too early!!)

Rest is at break-even and will keep an eye on it.
*** Shoot for the moon. Even if you miss, you'll land among the stars. ***
  • #61,453
  • Oct 13, 2015 10:10am Oct 13, 2015 10:10am
hi all

I have been reading through this thread and this is filled with tons of information thank you everyone! Down to bidnessss though, last night ( I am on the east coast) I took the E/G trade the M/W/D TF all bullish, I waited for a retrace on the hr TF and once the bullish trend was continued I entered after the spinning top TDI was close to 12-2, STOC was in the right direction, so I thought I was on to the money I have been playing a 1:1 still on a demo account I normally get 20 pips and get out still a lack of confidence. I set my S/L and T/P and went to bed when I woke up this morning I lost it. My main question behind this is how do you exerts set your stop losses I am beginning to think 20 pips isn't enough fluctuation for the market, any help would be greatly appreciated ( apologize if this is in the paper clip and I missed it) and if the trade was junk from the get go please let me know you wont hurt my feelings!
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  • #61,454
  • Oct 13, 2015 10:22am Oct 13, 2015 10:22am
Quoting emmanuel7788
{quote} its chopping so I am managing my buy ME/ME trades.
Could you clarify what you mean by ME/ME trades?
  • #61,455
  • Oct 13, 2015 10:27am Oct 13, 2015 10:27am
Quoting Pipslam
hi all I have been reading through this thread and this is filled with tons of information thank you everyone! Down to bidnessss though, last night ( I am on the east coast) I took the E/G trade the M/W/D TF all bullish, I waited for a retrace on the hr TF and once the bullish trend was continued I entered after the spinning top TDI was close to 12-2, STOC was in the right direction, so I thought I was on to the money I have been playing a 1:1 still on a demo account I normally get 20 pips and get out still a lack of confidence. I set my S/L and...
You traded near Consolidation/Support that's maybe why you lost, majority of traders place there stop at previous High or Low
  • #61,456
  • Oct 13, 2015 10:28am Oct 13, 2015 10:28am
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!!
I'm the opposite,

I struggled for many months to trade this system on H4 as Big E described... others seemed to be consistently making pips and I just wasn't...
My turning point was switching to H1 and following Phx62's take on TMS. Other traders like TSS, LL and many more also successfully follow similar methodology in their trading.

This just highlights the importance of finding what works for you...
Focus on the process and the profits will follow
  • #61,457
  • Oct 13, 2015 10:42am Oct 13, 2015 10:42am
Quoting stefan17
{quote} You traded near Consolidation/Support that's maybe why you lost, majority of traders place there stop at previous High or Low
Last swing high Daily highly, weekly high monthly for T/P? My T/P was right near the pink link which was the last major resistance maybe I need to start charting major lines of support and use those for S/L, or would you place your S/L at the last major Swing low? all suggestions are appreciated thank you!
  • #61,458
  • Oct 13, 2015 10:50am Oct 13, 2015 10:50am
Quoting emmanuel7788
{quote} When you trade in narrow range consolidation market that's when many trade setups will fail. {image}

Thanks for that - helps me understand your analysis, though I don't necessarily agree with your interpretation of Price Action. At the time it wasn't consolidating at all, plus I think you are adding some factors/conditions that just weren't in eelfranz's original rules at all or just personal interpretation. I think there is a danger of reading into the charts whatever we want to see at times and hence the results can be impacted by our own experience/skill level. Not a criticism, just an observation about all traders.

We can see the results differ in this thread as a consequence of such an approach so, simple is best in my eyes and we don't have to try and over think things. As the thread is called "Trading Made Simple" .. that's what I'm going to try and abide by though of course when it comes to Price Action there will always be some subjectivity or the very least people putting greater emphasis on one thing rather than another.
*** Shoot for the moon. Even if you miss, you'll land among the stars. ***
  • #61,459
  • Oct 13, 2015 11:03am Oct 13, 2015 11:03am
Here is a trade I took yesterday. Any comments would be appreciated.
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  • #61,460
  • Oct 13, 2015 11:12am Oct 13, 2015 11:12am
Quoting coldvinc
{quote} Could you clarify what you mean by ME/ME trades?
hey Colvnc,hope u follow your GBP trade the way you were doing.,lots pips,cograts
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