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Trading Made Simple the right way, and other trading lessons 334 replies

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Trading Made Simple system follower - Thanks to eelfranz 9 replies

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Trading Made Simple

  • #68,741
  • Apr 29, 2016 12:13pm Apr 29, 2016 12:13pm
Quoting mkfx
{quote} Hi Catalin Thanks for reminding our responsibility to towards this forum we should give back as well i agree with you. I am not a active trader at this time. even not getting much time to enter new trades. So could not post charts. Here i tried to find a chart that make shows my logic. chart is one hour jut to show trades but decision was based on daily/ 4 hours. {image}
Your results are really good. Keep doing it, and keep posting charts at least sometimes, telling the story behind your entry. The more details you give, the more newbies you will help. Bravo!
  • #68,742
  • Apr 29, 2016 12:14pm Apr 29, 2016 12:14pm
Quoting mkfx
EA 75+50 total 125 pips {image}
Very nice!

May I ask how you define your SL? ATR , swing, 2 candles look back on the TF you are entering?

P.S.: I am sure many will want to know about the cross up... Where was the cross up?
  • #68,743
  • Apr 29, 2016 12:26pm Apr 29, 2016 12:26pm
Quoting thjw
{quote} What website did you goto to find those nice charts for the COT report?
Hi!

Allow me to answer in Emm's place. He must be relaxing and playing with grandkids now.

http://www.cmegroup.com/tools-inform...raders-fx.html

You go to www.cmegroup.com, you put your mouse on TRADE, then you choose FX from the dropdown menu, and then you look to the right hand side of the screen and choose COMMITMENT OF TRADERS.

You can also take a look at www.timingcharts.com.
  • #68,744
  • Apr 29, 2016 12:44pm Apr 29, 2016 12:44pm
Quoting catalin_eros
{quote} Hi! Allow me to answer in Emm's place. He must be relaxing and playing with grandkids now. http://www.cmegroup.com/tools-inform...raders-fx.html You go to www.cmegroup.com, you put your mouse on TRADE, then you choose FX from the dropdown menu, and then you look to the right hand side of the screen and choose COMMITMENT OF TRADERS. You can also take a look at www.timingcharts.com.
THANK YOU! appreciated.
  • #68,745
  • Apr 29, 2016 6:25pm Apr 29, 2016 6:25pm
Hi TMS Folks,

Market is closed and we have a Month candle close.
It has been another great trading month and result is good.
So it is time to update the Big Picture Plan of the currency pairs you trade.
I will do my BPP update over this weekend and if anyone wishes to see any BPP of any currency pairs, please post and ask.
I will only share my BPP and trade plan for next month if you ask.

Have a Good Weekend.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #68,746
  • Apr 29, 2016 6:45pm Apr 29, 2016 6:45pm
To answer a couple of PMs this week asking about the TDI' Yellow and the use of the 5EMA,Typical Price,Shift+3.
Note the TDI Yellow line is also know as the Market base Line MBL.

Big E made many posts on these two topics.
He did mentioned that if you want to use that MBL yellow line, you can if that gives you more confidence in your trading. That is on this post link:

http://www.forexfactory.com/showthre...49#post4666649

He made 55 posts on 'yellow'.
Use the forum keyword search and read all 55 posts where he mentioned 'yellow'.
This is your weekend homework.

Attached Image (click to enlarge)
Click to Enlarge Name: FF eelfranz on use of yellow.png Size: 143 KB


For all the Newbies to Trading Made Simple 5-Method, all you need is just two indicators to build this system:

- the TDI or if you use the Fozzy-RSI this work the same like the TDI which is a custom indicator.

- the Average Price Bar APB or the Heiken Ashi (modified version for forex) HA.

These are the only two indicators for you need to look for the 5-Method trade setups. Entry and Exits is based on the TDI and what you see in the Price Action.

There are other indicators which you can use for trading information and planning. For example, the ATR, Weekly/Monthly High/Low, Daily Open/Weekly Open, BRN/RN levels, etc. All these are not gimmicks on our charts. These are useful to help us see better and quicker in realtime charts. Trading is very visual.
Some traders prefers the use of the 5SMA High/Low Price Action Channel PAC, use it in place of the 5EMA. This will help you stay away from those aggressive APB#1 setup entries which often fails to run.

Have a good one.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #68,747
  • Apr 29, 2016 6:58pm Apr 29, 2016 6:58pm
Quoting mortezakh
Classic tms setup gbpjpy daily chart {image}

Chasing after big candles setups should be avoided.
Where do you place your initial Stop Loss (R)? above the high of the big candle? or the swing high?
How does that affect your trade position size with that huge initial SL?

But sometimes they do give some good pips but the risks are very high.

Often times after big candle, the next candle will not break lower than the low of that big candle. This is when the big candle is WRB candle. How do we spot a WRB early and stay away from being set up by the market. You need another trading tool or some calls them 'gimmicks'.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #68,748
  • Apr 29, 2016 7:01pm Apr 29, 2016 7:01pm
Quoting NaldoJAM
hey ive been trying to read through this page but there are way too many pages is this technique compile somewhere?
Here is fast track -
Here is a quick introduction to this Trading Made Simple thread:
Trading Made Simple for beginners : Post#52,707
A short history by pioneer member snarlyjack Post#110
Our late OP eelfranz aka Big E spent 6,000 hours: Post#6 and he evolved as a trader and went on and developed two trading methods.
5-Method and 21/233 Method Post#3018, Post#4104,
After months of postings and answering many frequently asked questions FAQs,
eelfranz made the jump to this new Trading Made Simple thread on 26 April 2011... Post#4432
In Post#1, he explained how he traded the H4 chart timeframe and he also trade the H1 chart during the NY session. This suited his lifestyle being retired and the time zone he lived. Sadly he passed away in Oct 2012.
Two very important posts: Post#261 and Post#647, give a simple summary of what this 5-Method is and the basic forex stuff we check before we look for the TDI setups to trade.
TMS 5-Method Basic Rules: Post#53,841
Always check the #1- Price Action first, then #2- TDI Post#3142
Big E wanted us to build this TMS thread together... Post#4,432

The original indicators and template … Post#25


But this thread is already 5 years ... are we living in the past? Do you want to continue live in the past?

The market is present, so better learn fast and catch or you will be left behind.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #68,749
  • Apr 29, 2016 7:12pm Apr 29, 2016 7:12pm
Quoting maxtill
Ooo, emmanuel7788 can you please share your template, have a lot of version ov this sistem.. but whant goodest from pro

Hello Maxtill,

First let me state clearly in this forum.
I am not a pro. I not a professional trader. I do not trade for a living.
I am also not a guru in trading. Guru talk only and write a lot in public forums but they cannot trade and not even trade a simple system like TMS.
Some professional gurus write books and make more money.

I am just an ordinary trader who has worked hard for 30 years.
I trade SMART for many years and I have mastered my craft.

You can start using the original indicators and template in Post#25.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #68,750
  • Apr 29, 2016 7:33pm Apr 29, 2016 7:33pm
EURUSD April trades closed.

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD April trades closed.png Size: 120 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #68,751
  • Apr 29, 2016 10:53pm Apr 29, 2016 10:53pm
Quoting emmanuel7788
EURUSD April trades closed. {image}

Thanks Emmanuel.

I like this setup and feel more confident in ME after such setup. We can see there is a trade closed in 196 pips loss, what was the criteria to close only that trade and keeping other trades open even that time other 3 were also in loss and basket was also in loss.

May be thins can help to understand Cut SMART loss.

We are leaning here lot from your charts and explanations and getting inspired with your results.


Thanks

MK
  • #68,752
  • Edited Apr 30, 2016 2:22am Apr 29, 2016 11:46pm | Edited Apr 30, 2016 2:22am
Post 68,715

Hi Em,
Your detailed reply is very much appreciated and I agree it will also help others.

In regards to you posting your BPP, I have a request.
Can you please post 1 pair that is bottom of your list and 1 that is top of your list.
I would like to know more about the first thing you look for at the end of the month.
I am going to do BPP for 6 pairs this weekend, trade small and hopefully next weekend post some charts and positive results.
Regards
Rob
Your trade order needs to be in the right place at the right time.
  • #68,753
  • Apr 30, 2016 12:53am Apr 30, 2016 12:53am
This thread is interesting. I like the concept and use of the heiken ashi candles. Did anyone else come to the realization that the TDI indicator gives nearly the same signals as a 34 period stochastic? just curious, not that I use indicators much these days, but definitely nice to have an automated chart as well. Looks like this would work good with the chaos semaphor.
Attached Image (click to enlarge)
Click to Enlarge Name: 2016-04-30_014722.png Size: 38 KB
Attached File(s)
File Type: ex4 Chaos Semafor - 3_Mod.ex4   11 KB | 405 downloads
File Type: mq4 Chaos Semafor - 3_Mod.mq4   13 KB | 442 downloads
File Type: ex4 StochasticZones.ex4   31 KB | 456 downloads
File Type: mq4 StochasticZones.mq4   13 KB | 582 downloads
The things that we love tell us what we are Thanks Redsword11 and Tim Morge
  • #68,754
  • Edited 5:21am Apr 30, 2016 3:39am | Edited 5:21am
Quoting emmanuel7788
Hi TMS Folks, Market is closed and we have a Month candle close. It has been another great trading month and result is good. So it is time to update the Big Picture Plan of the currency pairs you trade. I will do my BPP update over this weekend and if anyone wishes to see any BPP of any currency pairs, please post and ask. I will only share my BPP and trade plan for next month if you ask. Have a Good Weekend.

I'm Asking. I would love to see any pairs you want to show us on your big picture plan. Hell, I would love to see all of your analysis. Not to copy, but to learn. Inevitably, my analysis will differ from yours no matter what you post. But, such a gift will hopefully widen my gaze and shift my paradigm to an even more lucrative standpoint.

I'd like to share a tendency I have found recently with the rest of the pack here. We watch Support and Resistance here on TMS. I have decided to watch it very closely and have found that if I find confluence of three or more support and Resistance lines; I can pretty much bank on a bounce at least on the short term.

Such lines that I am watching are: 10,50,100,200 EMA's on 4hr and above, monthly horizontal turning points, previous weekly fibs. I still need to work on weekly OHLC lines as well. When I trade I look for daylight between these lines and have been finding success. To be honest I am putting to use something I heard a senior member talk about, but don't remember who... I don't look for reasons to trade nearly as hard as I look for reasons not to trade. What does this mean? When I get a signal to trade (which happens all the time on the 4hr that I trade on) I look at my current screen that has all of my EMA's and fibs on them. Then I flip to the upper timeframes and check the EMA's there. Then I have a separate screen that shows me the 10 EMA along with the monthly horizontal turning points for the same currency. If there is anything in the way I leave the trade alone till it finds the daylight I seek. When I see daylight (nothing in the way) It means I can take the trade if there is enough room for my R:R. around 1 to 1 usually a little less. This RR sucs. Yes it does. But guess what? My hit rate is fairly fantastic so far so it doesn't matter. This coincides with my psychology here that I want to have many more winners than losers. Another thing to consider is that support and resistance is just one of the things that Big E told us to watch and this is how I do it. Now that I have this part mostly taken care of, I'll start looking at the next basic things we need to start watching for ;0) I'll not bother posting my accounting stuff yet because I am still finding my grove with other issues like trading manager, lot sizes, etc. But I will post such stuff soon. All the pieces are coming together nicely with EMM's help. Can't thank-you enough man.

LL
"IN CASH WE TRUST"
  • #68,755
  • Apr 30, 2016 4:16am Apr 30, 2016 4:16am
Quoting emmanuel7788
Hi TMS Folks, Market is closed and we have a Month candle close. It has been another great trading month and result is good. So it is time to update the Big Picture Plan of the currency pairs you trade. I will do my BPP update over this weekend and if anyone wishes to see any BPP of any currency pairs, please post and ask. I will only share my BPP and trade plan for next month if you ask. Have a Good Weekend.
Hi Emmanuel, because of some personal matters I m not trading right now, but I want to keep learning and studying. Could you share the BPP of the most interesting pairs that see right now?Thanks very much.
“Stops don’t limit profits — they prevent disasters.”
  • #68,756
  • Apr 30, 2016 6:51am Apr 30, 2016 6:51am
I've been reading this thread for the past two days since I found it. It's very rare to see a forum that is active after how many years. Downloaded all the pdf and now I'm ready for practice. Started trading forex about a year ago and spend a fortune buying EA. I just blow up my account last week. I made a self rule that I only trade live again once I double my demo account.

To all those who contributed, to Big E, wherever you are... THANK YOU, GRACIAS, ARIGATO, XIE XIE, SALAMAT
  • #68,757
  • Apr 30, 2016 7:18am Apr 30, 2016 7:18am
Quoting eaglestar
This thread is interesting. I like the concept and use of the heiken ashi candles. Did anyone else come to the realization that the TDI indicator gives nearly the same signals as a 34 period stochastic? just curious, not that I use indicators much these days, but definitely nice to have an automated chart as well. Looks like this would work good with the chaos semaphor. {image} {file} {file} {file} {file}
Hi eaglestar
Thanks for sharing the indicators. I copied them into mt4 but the ChaosSemapfor didnot load onto chart while Stochasticzones loaded easily.Can you help in this regard and can you share your Template as well?
Thanks
  • #68,758
  • Apr 30, 2016 8:29am Apr 30, 2016 8:29am
Quoting emmanuel7788
{quote}How do we spot a WRB early and stay away from being set up by the market. You need another trading tool or some calls them 'gimmicks'.
We take a look at PL in relationship with VB. If it's out, then consolidation is expected.
  • #68,759
  • Apr 30, 2016 8:33am Apr 30, 2016 8:33am
Quoting eaglestar
Looks like this would work good with the chaos semaphor. {image} {file} {file} {file} {file}
I haven't heard about "chaos semaphore", I just know about the normal semaphore. If they are the same regarding the repainting issue, I see no reason to use it. I gave a try to semaphore, then I discarded it in the same day because of those false signals caused by repainting. But I heard there are some folks who use it and make nice pips. I just don't understand how I can rely on something that changes the past data.
  • #68,760
  • Apr 30, 2016 10:14am Apr 30, 2016 10:14am
Hi ,
Excuse me for this maybe stupid noob question , but I want to have the 50 line on my synergie pro TDI(I even tried with the TDI RT) indicator as a thick colored line in contradiction with the 2 other levels 32 and 68 , as I saw on some charts and I find it very helpfull ? But whatever the solution , I choose , all the 3 levels lines change !!! Could you help me ?
Please show me the way to do it , I am sure that it is simple but I can't find the solution.
Thank in adavance.
Bodal
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