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Trading Made Simple

  • #67,241
  • Mar 20, 2016 3:18am Mar 20, 2016 3:18am
i also would like to know what the best chart for using this technique.. pls advice emmanuel
  • #67,242
  • Mar 20, 2016 3:29am Mar 20, 2016 3:29am
Quoting emmanuel7788
EURUSD Week 12 trading: This BPP attached should explain that question which I asked in this post#67,162. If you understand this BPP and trade plan, you can either make 200pips or 1000pips over the next 20 trading days.\ I can make 200 pips and still make more money than those who will make 1000pips. Do you want to make 1000pips? Ask if there is anything which you do not understand. Also GBPUSD has a D1 setup last week and you can also trade the pair instead....
I hear you but did just steal my crystal ball
the cautious seldom err....C
  • #67,243
  • Mar 20, 2016 3:38am Mar 20, 2016 3:38am
Quoting pips29
{quote} I hear you but did just steal my crystal ball

you must have forgotten that I borrowed it this morning...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #67,244
  • Mar 20, 2016 3:50am Mar 20, 2016 3:50am
Quoting emmanuel7788
{quote} you must have forgotten that I borrowed it this morning...
yeah , I'm glad we are looking at the same thing .thks for that analysis on E/u .very elaborate and boldIf I were to say the same thing no one will believe but coming from you it's an entirely different story. Great stuff man
the cautious seldom err....C
  • #67,245
  • Mar 20, 2016 4:07am Mar 20, 2016 4:07am
Quoting SlamberGamer
i also would like to know what the best chart for using this technique.. pls advice emmanuel

I think any chart which enable you to see the price action and support & resistance will be good for you.

I prefer to use the Bar Chart over the APB/HA candles.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #67,246
  • Mar 20, 2016 4:09am Mar 20, 2016 4:09am
Quoting pips29
{quote} yeah , I'm glad we are looking at the same thing .thks for that analysis on E/u .very elaborate and boldIf I were to say the same thing no one will believe but coming from you it's an entirely different story. Great stuff man

you are being very humble my friend. I know you are at very high level reading all your posts in LE1's M15 thread, you see many things many other cannot.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #67,247
  • Mar 20, 2016 4:28am Mar 20, 2016 4:28am
GBPUSD Week 12 D1 chart BPP.

Technically, we should see both EU ad GU to ride in the same direction but we need fundamental support. The major rate announcements were made last week, unless any unforeseen market event happen next week and the week after that, buying will be good. EURGBP is sideways now and we must e=keep watch on this pair.

GBPUSD ADR(100) days is 129 pips and the Average Weekly range is 300 pips. We should be realistic when we trade the 4H swing next week. Just pay attention to the D candles and those monthly price swing levels on the charts below. Most often the D candles which crosses and closes across those MN swing levels are big candle.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD Week 12 BPP D1 chart.png Size: 55 KB


Trade Well and Trade safe.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #67,248
  • Mar 20, 2016 4:44am Mar 20, 2016 4:44am
Quoting emmanuel7788
EURUSD Week 12 trading: This BPP attached should explain that question which I asked in this post#67,162. If you understand this BPP and trade plan, you can either make 200pips or 1000pips over the next 20 trading days.\ I can make 200 pips and still make more money than those who will make 1000pips. Do you want to make 1000pips? Ask if there is anything which you do not understand. Also GBPUSD has a D1 setup last week and you can also trade the pair instead. Please post...
Thank you, Emm, for the detailed explanation!

May I ask why is your SL different for ME/ME? You pointed out to a technical SL under the Wednesday low for SE/SE, but when you talked about ME/ME, your SL was under the low of the WRB.

Another thing I want to discuss is if getting out on an invalidation would provide better results for me, or if I should stick to my fixed SL and TP. I will use the example of a trade that I took this week, UJ, H4, short.

After looking at my BPP on W1 ( I do not use MN, I start with W1 at the moment), I saw that we were in the WRB of the 7th of February. It was followed by a bearish bar, then a bullish bar, and last two weeks there two long tailed dojis. All of these inside the WRB. So my assumption was that we are still in the ranging market. Since the last two W1 dojis had the same high, and also the other two previous bars were having the approximate high, I knew that I would wanna take a sell in that area if I got a signal. On the D1 I saw an IB formed and the TDI was crossed up, but I did not wait to get a signal there, so I had an earlier entry, after a 5 bar reversal pattern on H4, confirmed by the TDI cross. The trade made me 79 pips, with a fixed SL and TP set in place.
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYH4.png Size: 64 KB

Now, if I exited after the next blue APB that closed above the 5, I would have had a losing trade of minus 16 pips. From what I understand, that would have been an invalidation, since the trade was taken based on the close under the 5 and cross of TDI, and now one of those elements was not there anymore. Or since I entered based on two elements, should my exit be based on two elements as well? Hopefully, you'll provide an answer to this question, because that would have kept me in the trade.
Then I would have entered again on the sell signal provided by the next red APB confirmed by the bounce of TDI, and I would have made 54 pips, because my TP would have been in the same place (60% of W1 ATR, measured from the top of the current week). So on this pair, I would have ended with 54-16=38 pips, instead of the 79 which I got. So as I said at the beginning of the post, I need to observe what would be better for me: fixed SL/TP or exit after invalidation. I'll keep an eye on both exit methods.
  • #67,249
  • Mar 20, 2016 5:54am Mar 20, 2016 5:54am
Quoting catalin_eros
{quote} Thank you, Emm, for the detailed explanation! May I ask why is your SL different for ME/ME? You pointed out to a technical SL under the Wednesday low for SE/SE, but when you talked about ME/ME, your SL was under the low of the WRB. Another thing I want to discuss is if getting out on an invalidation would provide better results for me, or if I should stick to my fixed SL and TP. I will use the example of a trade that I took this week, UJ, H4, short. After looking at my BPP on W1 ( I do not use MN, I start with W1 at the moment), I saw that...

you missed a lot of PA activity when you do not use the MN to see those historical price swing levels. if you don't then you must use the BRN and RN levels on your trading chart

remember,
sell at resistance and when we see buying stops.
buy at support and when we see selling stops.

Attached Image (click to enlarge)
Click to Enlarge Name: USDJPY Week 11 POMO.png Size: 93 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #67,250
  • Mar 20, 2016 6:19am Mar 20, 2016 6:19am
Quoting emmanuel7788
{quote} you missed a lot of PA activity when you do not use the MN to see those historical price swing levels. if you don't then you must use the BRN and RN levels on your trading chart remember, sell at resistance and when we see buying stops. buy at support and when we see selling stops. {image}
So if you used the MN S/R for TP on UJ (or the low of W1 WRB), then where does the W1 52 ATR come in place as TP? What am I missing? What is your way of defining targets: 52 ATR or MN S/R?
I would also like to receive the answer for the previously asked question: 'since I entered based on two elements, should my exit be based on two elements as well?"
Thanks in advance, Emm!
  • #67,251
  • Mar 20, 2016 6:37am Mar 20, 2016 6:37am
Quoting catalin_eros
{quote} So if you used the MN S/R for TP on UJ (or the low of W1 WRB), then where does the W1 52 ATR come in place as TP? What am I missing? What is your way of defining targets: 52 ATR or MN S/R? I would also like to receive the answer for the previously asked question: 'since I entered based on two elements, should my exit be based on two elements as well?" Thanks in advance, Emm!
You call this trading made simple ?
The Trend Is Your Friend
  • #67,252
  • Mar 20, 2016 6:51am Mar 20, 2016 6:51am
Quoting Soyo24
{quote} You call this trading made simple ?
))))
Good question. Big E's method was Trading Made Simple. This is how Emm is using it, and if he is making thousands of pips every week, I need to make 60% of what he is making, cause I look at Emm as if he's my 52 W1 ATR.

Anyway, like Scorps used to say, it's hard as Hell, but it gets easier with time. If it was very simple, I believe there would not be 95% losing traders on forex, and only 5% winners. We just need to remain motivated and be willing to do a lot of hard work to improve. I do not think there was one single day in the last three years that I did not have my charts open, either for trading, or for backtesting. Although I end up every week in profit, I still try to get better, and I need to understand the cogs of trading of much better traders. I have a lot to learn from them, and questions have to be asked in order to get the answers which will eventually lead to the better trader version of me.
  • #67,253
  • Mar 20, 2016 7:04am Mar 20, 2016 7:04am
Quoting catalin_eros
{quote} )))) Good question. Big E's method was Trading Made Simple. This is how Emm is using it, and if he is making thousands of pips every week, I need to make 60% of what he is making, cause I look at Emm as if he's my 52 W1 ATR. Anyway, like Scorps used to say, it's hard as Hell, but it gets easier with time. If it was very simple, I believe there would not be 95% losing traders on forex, and only 5% winners. We just need to remain motivated and be willing to do a lot of hard work...
It is simple, if you think about it it's a minimum of 50/50 with no analysis, because it can only go up or down, with good analysis it is much more.
The Trend Is Your Friend
  • #67,254
  • Edited 10:18am Mar 20, 2016 7:27am | Edited 10:18am
Quoting emmanuel7788
EURUSD Week 12 trading: This BPP attached should explain that question which I asked in this post#67,162. If you understand this BPP and trade plan, you can either make 200pips or 1000pips over the next 20 trading days.\ I can make 200 pips and still make more money than those who will make 1000pips. Do you want to make 1000pips? Ask if there is anything which you do not understand. Also GBPUSD has a D1 setup last week and you can also trade the pair instead. Please post...
Hello Emmanuel,
Question on the "TMS H4 entry" after the D1 setup?
In this case, when you move down to the H4, do you wait for the APB/HA close above the 5EMA and the TDI cross to pull the trigger?
I guess my question really is, when you drill down one TF for entry, do you treat it like any other TMS 5-Method entry, with its rules?
If "yes", is this the case in all instances where you drill down one TF for Entry?
Do you always drill down one TF for entry, from where the Setup candle occurs?
Thank you.
"Summer grasses, are all that remains of soldiers' dreams" - Matsuo Basho
  • #67,255
  • Mar 20, 2016 7:31am Mar 20, 2016 7:31am
Quoting emmanuel7788
EURUSD Week 12 trading: This BPP attached should explain that question which I asked in this post#67,162. If you understand this BPP and trade plan, you can either make 200pips or 1000pips over the next 20 trading days.\ I can make 200 pips and still make more money than those who will make 1000pips. Do you want to make 1000pips? Ask if there is anything which you do not understand. Also GBPUSD has a D1 setup last week and you can also trade the pair instead. Please post...

Hello emmanuel,

Thank you for the explanation. I am glad that I have the same bias on euro as yours.

So I should open a buy trade (1/5 unit) when H4 TDI cross up, and placed my SL at the WRB low. Then look for adding in entries every time it move down 1/2 ADR. Could you confirm that I am correct in my understanding of ME/ME method?

How about the Mar 16 low you mentioned? When does that stoploss come into play?

Thank you.
Attached Image (click to enlarge)
Click to Enlarge Name: Untitled.jpg Size: 329 KB
  • #67,256
  • Mar 20, 2016 7:37am Mar 20, 2016 7:37am
Quoting Soyo24
{quote} It is simple, if you think about it it's a minimum of 50/50 with no analysis, because it can only go up or down, with good analysis it is much more.
Exactly. On H4 the spread is almost negligible. So worst case is your account goes sideway, random walk..

With a bit of correct analysis of the trading direction, could make the 50/50 into 70/30..

And the ME/ME is essentially increasing the sample size...and that reduces the variance in the equity curve..
  • #67,257
  • Mar 20, 2016 7:39am Mar 20, 2016 7:39am
Quoting Soyo24
{quote} It is simple, if you think about it it's a minimum of 50/50 with no analysis, because it can only go up or down, with good analysis it is much more.
Correct. But to make it much more, a trader needs much more hard work to get that edge that will make him consistent profits at the end of a given period. Big E had 80% winning rate. From last week's results, we can state that Emm has the same (79.3%). I think it is definitely worth working hard to learn their methods, and afterwards reap the rewards, don't you agree? So welcome to Trading Made Simple thread!
  • #67,258
  • Mar 20, 2016 7:45am Mar 20, 2016 7:45am
Quoting catalin_eros
{quote} Correct. But to make it much more, a trader needs much more hard work to get that edge that will make him consistent profits at the end of a given period. Big E had 80% winning rate. From last week's results, we can state that Emm has the same (79.3%). I think it is definitely worth working hard to learn their methods, and afterwards reap the rewards, don't you agree? So welcome to Trading Made Simple thread!
Thank you for the warm welcome, I will check out the Emm method,
What or who is Big E and can you give me a link ?
The Trend Is Your Friend
  • #67,259
  • Mar 20, 2016 8:24am Mar 20, 2016 8:24am
Quoting Soyo24
{quote} Thank you for the warm welcome, I will check out the Emm method, What or who is Big E and can you give me a link ?
Big E is the former owner of the thread. If you start on page 1, you'll learn his method.
You can ask Emmanuel7788 to help you with a good start on TMS, because he has all the required links.
  • #67,260
  • Mar 20, 2016 9:28am Mar 20, 2016 9:28am
Quoting emmanuel7788
To all new traders and newbies to this TMS thread. I recommend that you visit this new thread started by MrAussieFX link here: http://www.forexfactory.com/showthre...67#post8813367 I have known MrAussieFX here in FF for some years now and he is one of the few good man and is also honest in what he does and share here in FF. This TMS thread has been kept going by different members after our OP eelfranz aka Big E passed away in 2012. It is difficult and take a lot of time for anyone coming to this thread for the first time to...
Hi Emannuel,

I read a few of eelfranz posts and it seems it might take a year for me to finish it. Some of his entry strategies seem to be a bit aggressive, but once I face with it on my chart, that's the only time it becomes clear to me, and then I would just simply say to myself, "He's right all along".

Now... I will continue to read on

Kindest regards
Since Frank Sinatra sings in his own way, my chart sing... I did it, my way
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