Trading Made Simple | Page 3237 | 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

  • #64,721
  • Jan 17, 2016 7:06pm Jan 17, 2016 7:06pm
Quoting Scrambleguy
{quote} Dear Emm, I believe it is now best to trade the daily chart from most of your advice on this tms thread. Can you please give a brief over look at what your steps are when taking the trade on the daily tf, but not me/me because as a newish trader this is too advanced. Thank you very much.

Hi,

Trading H4 and D1 chart would be better. Many traders who try trade H1 and below did not make it no matter how hard they try. This only make them lose confidence in the method. People who wants to trade low timeframe are looking to make money fast. Some do not have the patience to trade H4 and d1 charts.
It takes time for the newly painted wall to dry, but when the paint get dry, you see the true colour emerge and the beauty of the paint job. Hence trading H4 and D1 to these traders is like "waiting for the paint to dry ".

When you are looking for trades, first thing is look at the TDI. You do this for different timeframes. Think of the benefits in using the Triple Screen Trading technique.
Once you have done this, it is quick and easy to decide if there is any trade opportunity or not, then you move to the next pair chart.

But when you decide on taking a trade.
the No.1 importance is to look at the Price Action.
then No.2 is the TDI for confirmation of the PA and price momentum.
Always have a view what the next higher timeframe is doing when you decide to take a trade setup.

Study all the different entry and exit strategies and use them for money and risk management. This will make a difference how you will meet you financial objective in your trading business. Think of how to make your money work for you. Think like an investor and trade like an investor.

Single Entry/Single Exit SE/SE
Single Entry / Multiple Exits SE/ME
Multiple Entries / Single Exit ME/SE
Multiple Entries / Multiple Exits ME/ME

Each of the above has its pros and cons. You need to weigh them and decide which will help you achieve your goals.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #64,722
  • Jan 17, 2016 10:54pm Jan 17, 2016 10:54pm
Quoting catalin_eros
{quote} Hi, Scorps! Nice trading, as always! I hope you do not mind if I ask a question. Regular divergence, TDI coming down from OB, BEEB, all good... BUT... you took a sell on a live candle and against the 10 EMA and the TL? Assuming that the candle was almost closing when you entered, you still went against the 10 EMA and TL. And I know the 10 EMA is very important to you (like the guppies are for me). May I ask what was the reason? Thanks in advance for the reply!
I totally missed your question, apologies for that, TDI had bounced when I took the trade, with that regular divergence, I gave it a shot, was a live candle, so the entry was very risk I know that, but had to take it as if not I might miss the sell off, this CT trade can short live, so any late entry and there will be no entry, I refined the entry from M5 and M15

I had already determined a sell trade early in the Asian Session so was timings remain only for taking the trade
I Have Learned to Take Some Losses to Make Profits
  • #64,723
  • Jan 17, 2016 11:09pm Jan 17, 2016 11:09pm
Quoting ZeF
{quote} There's not a written rule that Mondays are off by default. If there's red news at London or NY Cash open, then you can be sure major players will be active, and that is where you should be piggybacking too. You can check yourself, here on FF there's a liquidity tool and you can decide for yourself whether you want to be in or out, and if you decide that it is a relevant tool. Tomorrow it's a bank holiday in the US so the NY Cash market will not open. There isn't any red news release either. So there's the pre-conditions of a slow Monday,...
Zef u are right, market will move regardless of conditions , bank holidays, Mondays , whatever, news no news, market will move , it might be thin at times, slow at others but where if theres a setup that cant be missed, the market will trade that setup regardless of the conditions

I Have Learned to Take Some Losses to Make Profits
  • #64,724
  • Jan 18, 2016 2:39am Jan 18, 2016 2:39am
Quoting macajos
My Elliott wave analysis on these pairs. Any suggestions is welcomed. {image} {image}
I studied Elliot Wave in detail a few years ago, it absolutely did my head in before I kicked it into the long grass.

Also you are adding a complex theory to a trading strategy which aims to keep things as simple as possible.
  • #64,725
  • Jan 18, 2016 2:46am Jan 18, 2016 2:46am
Quoting emmanuel7788
{quote} Hi, Trading H4 and D1 chart would be better. Many traders who try trade H1 and below did not make it no matter how hard they try. This only make them lose confidence in the method. People who wants to trade low timeframe are looking to make money fast. Some do not have the patience to trade H4 and d1 charts. It takes time for the newly painted wall to dry, but when the paint get dry, you see the true colour emerge and the beauty of the paint job. Hence trading H4 and D1 to these traders is like "waiting for the paint to dry ". When you are...
Dear Emm, Thank you for your reply, I find it amazing that you very kindly and patiently answer all of us budding traders questions.
  • #64,726
  • Jan 18, 2016 2:55am Jan 18, 2016 2:55am
H4 will close in about one hour, do you see potential H4 setups?

- look at the TDI
- look at the Stochastics
- look at the price action

which pairs shows the APB candle close above/below the 5EMA?

what is the TDI Green condition? 12-2 , 4-6 clock face angle position, flat, hook backwards, etc.

Attached Image (click to enlarge)
Click to Enlarge Name: USD pairs 18 Jan GMT0845.png Size: 92 KB


Attached Image (click to enlarge)
Click to Enlarge Name: JPy pairs 18 Jan GMT0851.png Size: 94 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #64,727
  • Jan 18, 2016 3:57am Jan 18, 2016 3:57am
Quoting emmanuel7788
H4 will close in about one hour, do you see potential H4 setups? - look at the TDI - look at the Stochastics - look at the price action which pairs shows the APB candle close above/below the 5EMA? what is the TDI Green condition? 12-2 , 4-6 clock face angle position, flat, hook backwards, etc. {image} {image}
GBPUSD and EURGBP look the best. GBPUSD if it closes above 5EMA but still below 10EMA on Daily. Stoch confirms. EURGBP is the same looks like closing below 5EMA and following Daily candle but well above Daily 10EMA. Hope that makes sense & hope my analysis is correct. I done follow all those pairs though. Any comments or critisim welcome here I'm still learning
  • #64,728
  • Jan 18, 2016 4:41am Jan 18, 2016 4:41am
Quoting macajos
My Elliott wave analysis on these pairs. Any suggestions is welcomed. {image} {image}
I studied EW too, its good , but I use it only when the wave are clear and simple, when in doubt I forget about it and just trade based on PA and TDI , I still study it too and like it very much
I Have Learned to Take Some Losses to Make Profits
  • #64,729
  • Jan 18, 2016 5:24am Jan 18, 2016 5:24am
Quoting TheScorpS
{quote} I totally missed your question, apologies for that, TDI had bounced when I took the trade, with that regular divergence, I gave it a shot, was a live candle, so the entry was very risk I know that, but had to take it as if not I might miss the sell off, this CT trade can short live, so any late entry and there will be no entry, I refined the entry from M5 and M15 I had already determined a sell trade early in the Asian Session so was timings remain only for taking the trade
No problem! Thanks for the answer, Scorps!
  • #64,730
  • Jan 18, 2016 6:25am Jan 18, 2016 6:25am
Quoting JayS45
{quote} GBPUSD and EURGBP look the best. GBPUSD if it closes above 5EMA but still below 10EMA on Daily. Stoch confirms. EURGBP is the same looks like closing below 5EMA and following Daily candle but well above Daily 10EMA. Hope that makes sense & hope my analysis is correct. I done follow all those pairs though. Any comments or critisim welcome here I'm still learning

Very slow market today. Tomorrow will be better with China GDP data release.

Attached Image (click to enlarge)
Click to Enlarge Name: USD pairs 18 Jan GMT01000.png Size: 110 KB


Attached Image (click to enlarge)
Click to Enlarge Name: JPy pairs 18 Jan GMT1000.png Size: 109 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #64,731
  • Jan 18, 2016 7:27am Jan 18, 2016 7:27am
Hi all,

Here are my trades using ME/ME with 5 method. GBP/USD= 550+ pips, price moving too fast on that cross so i close all of my trades there.
Thank you Emmanuel7788 for sharing and helping us out.

cheers and happy piping all,
Attached Image (click to enlarge)
Click to Enlarge Name: January 17 2016.PNG Size: 59 KB
  • #64,732
  • Jan 18, 2016 7:46am Jan 18, 2016 7:46am
[quote=emmanuel7788;8696192]{quote} Very slow market today. Tomorrow will be better with China GDP data release. {image} {image}[/quote

​Emmanuel, this is exactly the tuition that is very useful, to see what you are looking at and the steps you take and to make us think how to look for the trades, thank you! keep them coming!
  • #64,733
  • Jan 18, 2016 8:40am Jan 18, 2016 8:40am
Attached Image (click to enlarge)
Click to Enlarge Name: image.png Size: 107 KB
Quoting emmanuel7788
{quote} Very slow market today. Tomorrow will be better with China GDP data release. {image} {image}
Thank you emmanuel! I looked through the UsdJpy H1 chart when the previous candle of H4 closed above 10ema , but it only moved 10pips up then down during the 4hrs.

May I ask for your thoughts about it?
  • #64,734
  • Jan 18, 2016 8:56am Jan 18, 2016 8:56am
I am currently on 3 trades,
EURGBP Buy
USDCAD Buy
NZDUSD Sell
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EURGBPH1.png Size: 38 KB
Click to Enlarge Name: NZDUSDH1.png Size: 39 KB
Click to Enlarge Name: USDCADH1.png Size: 36 KB
Motivation is what gets you started. Habit is what keeps you going
  • #64,735
  • Jan 18, 2016 12:34pm Jan 18, 2016 12:34pm
Quoting Meihk
Hi all, Here are my trades using ME/ME with 5 method. GBP/USD= 550+ pips, price moving too fast on that cross so i close all of my trades there. Thank you Emmanuel7788 for sharing and helping us out. cheers and happy piping all, {image}
Hi Meihk,
thank you for sharing your ME/ME charts, which I like very much! I don't have enough experience and the courage to trade against H4 and H1...
Best regards, blackfriday
  • #64,736
  • Jan 18, 2016 1:05pm Jan 18, 2016 1:05pm
Quoting emmanuel7788
{quote} Hi, It is good that your read this thread. Remember to take notes as your read. Post#1 is important, and also two important posts #261 and #647. As you read, look at charts and reference to these 2 important posts. Make screenshot of your chart and write notes based on your understanding of these 2 posts. Next, a simple thing to do is: Scroll back to all your charts starting from 2012...
Based on earlier backtesting, I came to the conclusion that in the last 6 years there have been 640 TMS-5 Reversal type trades per Major (AU, EU, GU) on average. The exact conditions were:

APB Close is above /below the 10EMA
APB Changed color last bar or two bars ago (#1 or #2)
TDI Green crossed Red last bar

So that means that in a given week, we can expect about 2 Reversal TMS-5 trades. I'm planning on doing the full review you suggest soon for both 4H and D1 atleast for a few pairs to start with. Hopefully we can get something written down this year in terms of rules.

Best,
Attached File(s)
File Type: docx Backtest 4H charts 6 years of data.docx   106 KB | 491 downloads
  • #64,737
  • Jan 18, 2016 1:16pm Jan 18, 2016 1:16pm
Quoting pulubi28
{image}{quote} Thank you emmanuel! I looked through the UsdJpy H1 chart when the previous candle of H4 closed above 10ema , but it only moved 10pips up then down during the 4hrs. May I ask for your thoughts about it?

Hi,

market liquidity is very thin with US bank holidays and also upcoming data releases this week.
should see some movement when Sydney and Tokyo open in few hours.
Be careful how market will react during the Asian markets sessions due to China GDP results. We already know the China's slow economic growth but what is the market sentiments now?

Currency to watch - AUDUSD, AUDJPY and NZDUSD during Tokyo session.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #64,738
  • Jan 18, 2016 1:24pm Jan 18, 2016 1:24pm
Quoting TheScorpS
{quote} I studied EW too, its good , but I use it only when the wave are clear and simple, when in doubt I forget about it and just trade based on PA and TDI , I still study it too and like it very much
Thanks for your input. EW is good as we can anticipate the turning point. From my EW Perspective, GJ should rally now. Even GU should rally for about 2000pips unless 1.40505 level is taken. Am combining EW with this strategy and it is working perfect.
  • #64,739
  • Edited 3:57pm Jan 18, 2016 3:40pm | Edited 3:57pm
Quoting emmanuel7788
{quote} Very slow market today. Tomorrow will be better with China GDP data release. {image} {image}

HI Emmanuel
Im trying to understand why you marked this charts with a X or with check mark.
Please take a look at my reasoning. I am right?

Thank you very much

EUR/USD you marked it with an X because the TDI was horizontal, it is so?
AUD/USD tdi is Up, the APB down
USDCHF TDI is up, but the green line horizontal, es it the fourth bar
GBPUSD TDI up, APB down
NSZUSD TDI is up, but the green line in getting down and it is the fifth candle
USDCAD TDI is down but the candle are above the 10ema
USDJPY TDI is up, it is the second bar, then it is ready
GBPJPY TDI up, first bar above the ema10
NSZJPY TDI up but the green line is horizontal, it is the fourth bar.
EURJPY TDI up but not 12-2, price below 10ema
AUDJPY TDI is up, but green line down, bar under the 10ema
CADJPY TDI up, price under 10ema.
Enter Signature
  • #64,740
  • Jan 18, 2016 4:47pm Jan 18, 2016 4:47pm
I have a question
When we have 200ma and 50ma ,price like to go near or like to away from those?
80 traders viewing now, 1 is registered:
makingmoe77