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Trading Made Simple

  • #63,061
  • Nov 11, 2015 10:22pm Nov 11, 2015 10:22pm
Here to answer another PM today on why I did not post any Gold update this morning. I closed shop trading gold the day before and will start again next year.
But this is what I see today.

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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #63,062
  • Nov 11, 2015 10:22pm Nov 11, 2015 10:22pm
Quoting emmanuel7788
{quote} If you have a realtime screen shot of that chart (without refreshing it) , I can tell you what I see and how to trade that 'correctly'.
I've got the screenshot of the trade, I took the Pro TDI off and Replaced it with the TDI RT while the trade was going when I noticed the difference. The Pro TDI was not Flat when I entered the trade but the TDI RT was flat
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  • #63,063
  • Nov 11, 2015 10:29pm Nov 11, 2015 10:29pm
Quoting emmanuel7788
{quote} The same approach works in all timeframes. That's why I use the Monthly Line Chart and draw those price historical swing levels and I trade H4 and D1 when the price action is between those MN swing levels. Trading is all about Entries and Exits. Market move from level to level. Sometimes they reverse between two levels, and therefore we all must our stop loss and must thank the person who invented trading with Stop Loss. Other times market volatility takes out your Stop Loss and continues between those same levels.
Hi Emmanuel,

Trading is all about entries and Exits. But to have a successful trade you have to be on correct side of the market not opposite that is very important.
How can we simple rules to see correct side of market ( we know to trade 1hr need to look daily trend and for 4 hr weekly trend.)
How do we ascertain if trend is reversing or retrenchment at daily level/ Weekly level ( as the case may be) ?, to be on right side of the market.

So far what i understand here, Before entry any trade at any time frame, Most important is to ascertain relevant higher time frame trend.

How can we solve this puzzle by having simple rules to identify higher time frame trend ?

Thanks
  • #63,064
  • Nov 11, 2015 10:40pm Nov 11, 2015 10:40pm
Quoting stefan17
{quote} I've got the screenshot of the trade, I took the Pro TDI off and Replaced it with the TDI RT while the trade was going when I noticed the difference. The Pro TDI was not Flat when I entered the trade but the TDI RT was flat {image}

Yes. they are different.
See my chart below.

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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #63,065
  • Nov 11, 2015 10:47pm Nov 11, 2015 10:47pm
got back late from lunch ,so entry was slightly late though there is hardly any difference in price...H4 according to thread
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the cautious seldom err....C
  • #63,066
  • Nov 11, 2015 10:48pm Nov 11, 2015 10:48pm
Quoting emmanuel7788
{quote} Only with a chart then I can see the price action and answer you.
Hi Emm,

Is this an example of master candle?
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  • #63,067
  • Edited 7:03am Nov 12, 2015 12:11am | Edited 7:03am
Newbie alert !!!! Hie everyone. Hope you're all good. Been following in the sidelines for a couple of weeks now and trying out almost everything (on live accounts just to make sure Im really thorough and fully vested in it) ,posted by Big E and those continuing with the vision and carrying the torch and I must say this is a super system and thread. Big up to Big E (may his soul rest in peace) and those running with the torch. To be honest today is the first time l placed what Believe is a "proper trade' using the 5 method system initially posted by Big E, keeping it simple, using PA - APB- TDI and stochs for confirmation of direction, and i am truly amazed at how simple trading can be . The trade is still running and was a bit hesitant to post until I closed it (Didnt want to jinx it lol) but here it is. Kindly comment and critic it so I can cut the learning curve. Am aware of daily pivot as well but trend is medium term bearish so hoping momentum will force it over.
PS just moved my SL to Break even have a running profit of 20 pips already.

Thanks a million guys. Happy trading to all
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  • #63,068
  • Nov 12, 2015 12:40am Nov 12, 2015 12:40am
Those Frankie candles on EUR pairs... Kind of scared
  • #63,069
  • Nov 12, 2015 12:55am Nov 12, 2015 12:55am
Quoting jeff90
{quote} Hi Emm, Is this an example of master candle? {image}
No. That is not a Master Candle.

That is a big candle, and I identify that as a Wide Range Bar earliest possible before the next candle. When the next candle is not an Inside Bar, the big candle remains as WRB but will never be a Master Candle. Do you see the sequence and logic?

Inside Bar : Post#42,301
Mother Bar : Post#55,045
Master Candle : Post#28,556 pdf in Post#25,594
Master Candle (3): Post#54,546
WRB introduction in the pdf TMS 5-Method Basic Rules: Post#53,842
Wide Range Bar study: Post#54,551
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #63,070
  • Nov 12, 2015 12:58am Nov 12, 2015 12:58am
Quoting tibovwh
Those Frankie candles on EUR pairs... Kind of scared

Look at the Weekly then the Day, nothing to be scared of. The higher TF direction is clear. lower TF is all market noise, so we get in and out really quickly when we trade against the HTF.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #63,071
  • Nov 12, 2015 1:02am Nov 12, 2015 1:02am
after hours wating I think have found a good condition to go short.but when candle close it's before news.what should i do?wating for news to end or going to trade?
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  • #63,072
  • Nov 12, 2015 1:10am Nov 12, 2015 1:10am
GBPCAD D1

We had a cross yesterday - Crossed 10 EMA nicely. Does anyone follow up? What is your view?

I'm messing around with a platform indicator called Inside Bar. Not entirely sure how it is coded since it is encrypted. Last one isn't even an Inside Bar it's strange. But seems to be doing a pretty good job to identify consolidation so I'll keep it on for a bit.
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  • #63,073
  • Nov 12, 2015 1:15am Nov 12, 2015 1:15am
Quoting emmanuel7788
{quote} Look at the Weekly then the Day, nothing to be scared of. The higher TF direction is clear. lower TF is all market noise, so we get in and out really quickly when we trade against the HTF.
Aha Mr. Draghi was already speaking. But I'm always hesitant on FO... Had a few too many fake outs on this bar... HTF Trend is clear tho I guess, no way I'm trading against this.

But with ME build position this is not really a problem...
  • #63,074
  • Nov 12, 2015 1:27am Nov 12, 2015 1:27am
Hi to all

Be aware of today's Yellen speech that will affect Gold and US pairs.


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regards.
  • #63,075
  • Nov 12, 2015 1:30am Nov 12, 2015 1:30am
Quoting secondpath
after hours wating I think have found a good condition to go short.but when candle close it's before news.what should i do?wating for news to end or going to trade? {image}
After today close the picture will be clearer.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #63,076
  • Nov 12, 2015 1:34am Nov 12, 2015 1:34am
Quoting secondpath
after hours wating I think have found a good condition to go short.but when candle close it's before news.what should i do?wating for news to end or going to trade? {image}
Hi

Look at D chart. it's uptrend and react to the bottom of the channel. so to be buyer is better than seller. I think the target would be Yellow rectangle.

Attached Image (click to enlarge)
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If you want to sell, you should use lower time frames to be more aggressive and catch more pips.

It's better to close the trade because there is a speech that will affect all the usd pairs. try not to trade on Draghi and yellen 's speech.

regards
  • #63,077
  • Nov 12, 2015 1:52am Nov 12, 2015 1:52am
Quoting mkfx
{quote} Hi Emmanuel, Trading is all about entries and Exits. But to have a successful trade you have to be on correct side of the market not opposite that is very important. How can we simple rules to see correct side of market ( we know to trade 1hr need to look daily trend and for 4 hr weekly trend.) How do we ascertain if trend is reversing or retrenchment at daily level/ Weekly level ( as the case may be) ?, to be on right side of the market. So far what i understand here, Before entry any trade at any time frame, Most important is to ascertain...

If there is a way to define the "right side of the market", it will be the market direction seen in the higher timeframe and the market type.

Defining the market type is not easy. Dr Van Tharp has a way he define the market type for the US stock market. But for forex, that method do not apply.

So what is the market type where trade TMS 5-Method will be more profitable?

1. Trending market type is the easy one.
2. Wide range sideways market type also can be traded with TMS 5-Method.

But when the market type is narrow range sideways, this cannot work with TMS 5-Method.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #63,078
  • Nov 12, 2015 2:22am Nov 12, 2015 2:22am
Quoting farhad10
{quote} Hi Look at D chart. it's uptrend and react to the bottom of the channel. so to be buyer is better than seller. I think the target would be Yellow rectangle. {image} If you want to sell, you should use lower time frames to be more aggressive and catch more pips. It's better to close the trade because there is a speech that will affect all the usd pairs. try not to trade on Draghi and yellen 's speech. regards
My 4H candle closed and I decided to follow up and Sell. We bounced of previous swing low. I have 2 pending sells in the market to build positions and have better average entry price.

We will see how it turns out. Pretty sure we will know more shortly after Yellen. I'm kind of afraid my SL will be too tight for upcoming volatility.

Best,
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  • #63,079
  • Nov 12, 2015 2:41am Nov 12, 2015 2:41am
correct me if I am wrong but we have a cross on tdi daily to the upside but on 4hr we have cross to the downside which trade would be useful to take on the gbpusd
  • #63,080
  • Nov 12, 2015 2:48am Nov 12, 2015 2:48am
Quoting trade786
correct me if I am wrong but we have a cross on tdi daily to the upside but on 4hr we have cross to the downside which trade would be useful to take on the gbpusd
Hey Trade786,

Good observation and you are correct.

However, we are in consolidations inside Friday's bar. Yesterday closed high but not broke this MC. Today we have a wick above but reversed. Also: The 20-MA on the D1 GBPUSD Chart is still sloping down and the MBL is turning.

We don't know what it will do. And I am not a consistently profitable proven trader but this is my idea. Also note that two traders can have opposite position in the market and both make money. It all depends on entries / exits / management / trade horizon... Have a plan and trade it is something that is often stated in this thread!

Best,
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