Trading Made Simple

EURGBP droping

GBPUSD can be profitable in my opinion. I tried it with my demo account.

Good Afternoon,

I have not finished reading whole of the BigE posts but reading it every day as its too much to absorb for me.

Please can someone review my trades.

Also please I cant figure out

1) How to use ATR for properly putting the SL and TP on H4 chart. ( I tried seraching google but could not find any good indicator and the study material to use in the way as the TMS traders are using on this thread)

2) Can we use ADR to put SL and TP
At the moment I have put a SL of 100 pips on ech of the trade and will review them after next 4 hours

2) Is their any indicator that can be used to give alerts for the candle stick patterns as WRB , IB, OB , POP GUN etc

I am in the UK but not a full time trader and have wasted money and time in the binary optuons .At present doing a day job , need advise from the seniors how to get consistent income from trading and make it as a replacement of my day job. I know its a long way to achieve my goal but with the help of the senior traders I know I will do it.

Sorry for my long and a bit boring post as I a newbie and in process of learning

yup,

EG went back to the previous H4 WRB ...
it can pull back to 0.7950
..

the next H4 WRB is much lower it can pull back further to 0.7930 with stronger GBP.

there is no buy setup yet, therefore buyers must wait much longer until we see a H4 buy setup.

GBPNZD yesterday saw support at the low of that Weekly WRB and H4 have a very good setup for buy off support. after better UK data yesterday.

Today opening rally continues ahead of more data release this week.

To all new traders to TMS and also newbies traders:

If you want to learn and trade TMS which is the 5-Method (not Synergy trading model) , you have to get started in the original thread started by eelfranz.
It is now in the Commercial Content forum for obvious reason.
You can ask anything in that Commercial forum which has to do with the commercial site where the 5-Method evolved from.
There are lots of tutorial videos availablefor both experienced traders and newbies and we do not need to "re-invent the wheel" what are available online.

Trading Made Simple is the 5-Method started in the Craig Harris Stochastic thread by eelfranz.
Link here: http://www.forexfactory.com/showthread.php?t=211188
Two trading methods were shared by eelfranz aka Big E. The 21/233 and 5-Method.

hi Folks,

just completed reading and replying all of last week's PMs.
very obvious that many traders have the same problem trading this spot forex market no matter how many years they have been trying.
that 95% losers group is real. many traders here are still talking about 5-Method entry and exit rules which are very simple.
so where is the problem when the entry and exit rules are so simple?
one of several reasons is the lack of knowledge and experience in basic trading stuff what Big E mentioned in post#647.
another reason is self-sabotage which many members here inflict on themselves. they make and repeat the same mistake what other traders make every day. they see posts with lots winning trades and they thought that they can replicate the same. they jump from thread to thread and get all kinds of replies which do not address their root of their individual problem areas. they are simply confused with so many variations of trading the trend and failed to see how simple the 5-Method actually is. they failed to see those 20% to 30% of trade setups even a trader like Big E failed. Big E knows how to pick the best setups yet he managed only 70 to 80% win rate.

many do not have a structure to learn to become traders. being in FF will not help you become a trader or a better trader.
FF is s very good place to socialize with other members not necessarily these members are consistent profitable traders.
to learn and become a trader take anything from 2 to 3 years and this does not mean you will become a profitable trader after 3 years.
when and how long it will take for you to become a long term consistent profitable trader depends on you alone, not the trading method, not the trading systems, not the money management strategy, not your trading psychology, not how you manage your trading psychology, etc. it is you.

what is your edge as the trader? do you have the edge over the market?

regards,

GBPNZD reversal trading example:

Just to follow on that post on SL and TP.

see the update chart below.

Newbie question on that trade H4 setup: Do we check H1?

Why do you want to check H1 when you are trading the H4 chart timeframe? Did Big E check lower timeframe when he sees a TDI trade setup? Maybe he did, maybe he did not. But he already knew the short term trend and the long term trend, when he is looking for trade setups. He was always well prepared with the basic forex stuff when he was looking for TDI setups to trade.



If you compare this chart updated and the previous one in the above post, do you see the difference in both the TDI?

But when you want to check the lower timeframe H1, what do you look for? If you have the answer, then there is no problem for you when you check the H1 after you see a H4 TDI setup. But you can miss the trade when you spend time to check the H1.

Hello, Emm!

Based on your PDF, should one assume that you take trades considering cross above/under MBL?

Do not assume anything. It depends on the chart and what I see in the price action., what is the strength and weakness of the setup, what are the opportunities and what are the threats(risks) ... aka SWOT.

It all comes back to what type of trader you are or want to be.



http://www.forexfactory.com/showthre...90#post8066790

http://www.forexfactory.com/showthre...39#post8287939

Emm, i need suggestion about my trade

Hi all, first post here, I like this thread and this TMS system, so I will try to learn it.

I took my first trade, a TDI bounce on the EU 4H chart. I entered on the first red candle, and I plan to exit based on when the TDI green line begins to turn flat or if the APB turns blue, if this is correct?

I think I may have made a mistake, in that the TDI bounce is a continuation signal, and I am using it as a reversal signal, so perhaps I am using it wrong? Hopefully someone with more knowledge can comment on my trade.

thanks

I do not know how to add an image to the thread, so here is my trade hosted in imgur

http://i.imgur.com/COLsYOH.jpg

Hi,

I hope these are demo trades. Try not to trade all these 3 pairs at the same time unless you have divided your risk into 3 portions.

You know where your AEPs are and when you have the opportunity, you can tray breakeven some trades or close the oldest trades.

regards,

Hi,

The setup looks good except that the market is sideways in the range of that H4 WRB. The risk is the dominant trend is UP and you sell into possible support. You can grab some pips out of this. Euro is stronger.



regards,

Dont see any good setups this 2 days...

Managed to find an entry on GBP JPY for a profit of 0.5xADR(100). Should i start a basket of trades for ME/ME or wait for a better setup? Any kind of advice is welcome.

Emm thanks, this is live account, im still adding more entry now, and planning to cut all position if price still move against me around -200 more
thanks for your advise

I did that too ;P
Jumped the gun on those trades and entered SHORT at the top of the previous WRB range... didn't expect such a strong GBP and had my SL hit.
Still waiting for a nice SELL signal, which seems to be forming in the GBP pairs' TDIs =)

Some quick notes I made for the next 4H bars, hope you guys can show me where I'm wrong or, hopefully, what I got right =)

AUD/JPY, NZD/JPY and USD/JPY seem to be at the bottom of a range (in NZD/JPY you can see the range delimited by the first two Weekly bars of this year)
I'm thinking of waiting for a TDI Cross indicating a buy in the next few hours to get in with a good R/R, since the stop will be so close, below the range.

AUD/USD & NZD/USD - after the last bearish mini trend, we can try to enter LONG after news announcement at 11 and ride the bullish (longer term) trend.

Of course, the opposite of what I just wrote could happen. That's why we wait and see what really happens in each pair =)
Any thoughts?