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Trading Made Simple

  • #63,141
  • Nov 13, 2015 6:12am Nov 13, 2015 6:12am
Ok...I'am of the opinion that the majority
of people can become successful traders

In my mind it is just a matter of time for most people!

Now...some people pick up trading very quickly.
Some people it takes longer. And, some people
should just never trade! Everyone is different.

The higher the time frame the more success you will have
learning to trade. The daily is the easiest, then the 4 hour chart,
then the 1 hour, then 30 minute, 15, 5, 1. The short time frame
chart's are the hardest. And you need to be pretty good to trade them.
When your learning to trade stick with the higher time frame charts...
sj
  • #63,142
  • Nov 13, 2015 6:37am Nov 13, 2015 6:37am
It is currently 5:30 a.m. my time or
7:30 a.m. N/Y time. We are currently
in the London session.

The N/Y session does not start until 6:00a.m. my time
or 8:00a.m. N/Y time.

However...The stock market does not open until 7:30a.m. my time
or 9:30a.m. N/Y time.

The markets start to get cranking up at 9:30 N/Y time, in
about 2 hours. That's when Forex & the Stock Markets really
get moving.

You need to have this info in the back of your mind!
sj
  • #63,143
  • Nov 13, 2015 6:49am Nov 13, 2015 6:49am
Quoting snarlyjack3
It is currently 5:30 a.m. my time or 7:30 a.m. N/Y time. We are currently in the London session. The N/Y session does not start until 6:00a.m. my time or 8:00a.m. N/Y time. However...The stock market does not open until 7:30a.m. my time or 9:30a.m. N/Y time. The markets start to get cranking up at 9:30 N/Y time, in about 2 hours. That's when Forex & the Stock Markets really get moving. You need to have this info in the back of your mind! sj
Which is also the time that a lot of US data is released. Something H1 trades need to keep in the back of their mind.
Never argue with a fool; onlookers may not be able to tell the difference.
  • #63,144
  • Nov 13, 2015 6:50am Nov 13, 2015 6:50am
Where did I go wrong?

My entry at 132.337 when TDI crossed and pointing up (12-2) on 2nd candle before it goes flat on 3rd candle. Stoch up as well. Also, candles are not small candles. Didn't see any S/R around my entry either.
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  • #63,145
  • Nov 13, 2015 6:50am Nov 13, 2015 6:50am
Quoting snarlyjack3
{quote} Goodolday, Yes...The trade has met all of Tms rules. Your s/r dots (asr) is your target. sj
Goodolday has put up a great example. Assuming that the APB has just open (or when it opened it looked similar), it is a long entry based on the TDI cross and the 5 EMA. But what about the entry based on the PAC? I do not see it as an entry, at least not before the ABP closes. So please make this clear, SJ:

1. when you take an entry based on the PAC, do you wait for the candle to close?

2.when you take an entry based on the PAC, do you keep the same rule as Big E? What I mean by that is taking only candle 1 or 2. In Goodolday's example, that would mean we cannot wait for the candle to close, because we would be entering on candle 3. Therefore we do not have an entry right now.

3.when you take an entry based on the PAC, do you not care what number that closed candle is? I mean do you trade it just as Dean, when APB closes above PAC and TDI confirms with good angle?

I want to make sure we all understand how the PAC entry is in regards to TMS. The success lies in the details.
  • #63,146
  • Nov 13, 2015 6:53am Nov 13, 2015 6:53am
This is what makes Forex so frustrating...
Forex is very unpredictable! You always want
to use a stop loss. I put my stop loss on the
other side of the pac price action channel.

Forex is all about probabilities! Most trades
work out...some trades don't. Who knows why.
ALWAYS protect yourself using a stop loss, ALWAYS!!!
sj
Attached Image (click to enlarge)
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  • #63,147
  • Nov 13, 2015 6:56am Nov 13, 2015 6:56am
Quoting Lookleft
{quote} Which is also the time that a lot of US data is released. Something H1 trades need to keep in the back of their mind.
Lookleft,

Sorry I forgot that.
Most data news comes out at 6:30a.m. my time
or 8:30a.m. N/Y time. Some news comes out at
7:00a.m. my time or 9:00a.m. N/Y time.

In about 1/2 hour news should be coming out!
sj
  • #63,148
  • Nov 13, 2015 7:01am Nov 13, 2015 7:01am
eurusd daily and 4hr is in a downtrend reason why it's not worked out on 1hr for longs maybe?
  • #63,149
  • Nov 13, 2015 7:04am Nov 13, 2015 7:04am
I think someone should create a video to help us all with rules of trading the TMS covering everything from entries to exits to valid trades and invalid trades, stop losses etc ANY VOTES?
  • #63,150
  • Nov 13, 2015 7:05am Nov 13, 2015 7:05am
Quoting Fbps
Where did I go wrong? My entry at 132.337 when TDI crossed and pointing up (12-2) on 2nd candle before it goes flat on 3rd candle. Stoch up as well. Also, candles are not small candles. Didn't see any S/R around my entry either. {image}
The first blue bar was the doji. The second blue bar was the big APB. Accoding to Big E's rules, when we use 5 EMA, we can enter only at the beginning of candle number 1 or candle number 2. When the candle 1 (the doji) closed, the candle 2 opened. What did it look like when it opened? Did it look like a decent size APB crossing above the 5 EMA? I did not monitor this pair, so I do not know what it looked like, but these are the rules. So when candle 1 closes, we then are in candle 2, and we decide if we enter on candle 2 open. If we wait for candle 2 to close, we are already in candle 3.
  • #63,151
  • Nov 13, 2015 7:06am Nov 13, 2015 7:06am
Can anyone help me out here? This was a trade that I felt confident in but it reversed and I got hit at my stop loss. I thought it was a good setup with a nice bar, but I don't know what it reversed on me. I entered at the 4 AM stick, the one right after the marking on the chart
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  • #63,152
  • Nov 13, 2015 7:09am Nov 13, 2015 7:09am
Quoting catalin_eros
{quote} The first blue bar was the doji. The second blue bar was the big APB. Accoding to Big E's rules, when we use 5 EMA, we can enter only at the beginning of candle number 1 or candle number 2. When the candle 1 (the doji) closed, the candle 2 opened. What did it look like when it opened? Did it look like a decent size APB crossing above the 5 EMA? I did not monitor this pair, so I do not know what it looked like, but these are the rules. So when candle 1 closes, we then are in candle 2, and we decide if we enter on candle 2 open. If we wait...
When I entered on 2nd candle, it was a sizeable candle - no long wick like what u see on chart. Perhaps I should take into consideration the doji candle 1.
  • #63,153
  • Nov 13, 2015 7:11am Nov 13, 2015 7:11am
Quoting catalin_eros
{quote} Goodolday has put up a great example. Assuming that the APB has just open (or when it opened it looked similar), it is a long entry based on the TDI cross and the 5 EMA. But what about the entry based on the PAC? I do not see it as an entry, at least not before the ABP closes. So please make this clear, SJ: 1. when you take an entry based on the PAC, do you wait for the candle to close? 2.when you take an entry based on the PAC, do you keep the same rule as Big E? What I mean by that is taking only candle 1 or 2. In Goodolday's example,...
Catalin,

Ok...in truth I'm more of a free flow trader & I seem to
break rules all the time, which is not good.

In Goodoldays example, price was out of the pac & their was a tdi cross.
On the new candle, price flipped (apb 3). Trade was on apb 2.
I usually try to get in on candle 2. I trade more like Dean, when the apb is
above the pac & tdi confirms...I'll take the trade, on apb 2 or 3. Any apb
after that 3-4 I'm super careful. Apb 5-6-7-8 are high risk trades!
sj
  • #63,154
  • Nov 13, 2015 7:14am Nov 13, 2015 7:14am
Quoting trade786
I think someone should create a video to help us all with rules of trading the TMS covering everything from entries to exits to valid trades and invalid trades, stop losses etc ANY VOTES?
Regarding the 5 EMA, the rules are crystal clear: entry on the open of candle 1 and 2. Or later, on the bounces. Both scenarios with the confirmation of the TDI.

But PAC entries... I think we need details here. Do we trade as Dean, at the close of the candle (candle1,2,3,4...), or as Big E, only on the open of candle 1 and 2?

SJ, Big E... This is where help is needed.

EDIT: SJ, I was writing this post before seeing your reply above, regarding the PAC.
  • #63,155
  • Nov 13, 2015 7:15am Nov 13, 2015 7:15am
Quoting trade786
eurusd daily and 4hr is in a downtrend reason why it's not worked out on 1hr for longs maybe?
Trader786,

Yes...you are correct, it was a counter trend trade!
I've seen studies that 75% of counter trend trades
do not work out.

That is the reason for the long term Guppy's!
To prevent counter trend trades.
But every time I use then I get .......!
sj
  • #63,156
  • Nov 13, 2015 7:20am Nov 13, 2015 7:20am
Quoting snarlyjack3
{quote} Catalin, Ok...in truth I'm more of a free flow trader & I seem to break rules all the time, which is not good. In Goodoldays example, price was out of the pac & their was a tdi cross. On the new candle, price flipped (apb 3). Trade was on apb 2. I usually try to get in on candle 2. I trade more like Dean, when the apb is above the pac & tdi confirms...I'll take the trade, on apb 2 or 3. Any apb after that 3-4 I'm super careful. Apb 5-6-7-8 are high risk trades! sj
Do you ever enter on live ABP? Should we enter on live APB?
  • #63,157
  • Nov 13, 2015 7:23am Nov 13, 2015 7:23am
Quoting catalin_eros
{quote} Regarding the 5 EMA, the rules are crystal clear: entry on the open of candle 1 and 2. Or later, on the bounces. Both scenarios with the confirmation of the TDI. But PAC entries... I think we need details here. Do we trade as Dean, at the close of the candle (candle1,2,3,4...), or as Big E, only on the open of candle 1 and 2? SJ, Big E... This is where help is needed. EDIT: SJ, I was writing this post before seeing your reply above, regarding the PAC.
Catalin,

When your using the tdi green/red cross all your looking
at is the tdi.

It does not matter if you have the pac, 5 ema shift 3 or 10 ema.
Or no ema at all (naked chart). Your focus is on the Tdi.
Eelfranz...the tdi in this method is king! All he looked at
was the tdi & apb's. The 5 ema was just a visual...
sj
  • #63,158
  • Nov 13, 2015 7:25am Nov 13, 2015 7:25am
What is a guppy?
  • #63,159
  • Nov 13, 2015 7:30am Nov 13, 2015 7:30am
Quoting catalin_eros
{quote} Do you ever enter on live ABP? Should we enter on live APB?
Catalin,

Forex Factory teaches newer traders to wait until the next apb changes.
However, as you gain more experience most traders will just take
the trade. It's all a matter of experience.

Think of it as your a figure skater. When your first learning
figure skating their are strict rules. However as you get really
good at figure skating you start to open up & flow with it.

But newer traders should wait until the next new apb & see
what is happening on that bar before they take the trade.
sj
  • #63,160
  • Nov 13, 2015 7:32am Nov 13, 2015 7:32am
I think if u remove the Emas and check higher timeframe for trend bias and take entries on 4hr or 1hr in the direction of the main trend maybe u could just add a trendline for directions I think that could work well
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