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Monitor for 'Trading Made Simple' system 565 replies

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

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MTF Indicators for the 'Trading Made Simple' system 241 replies

Trading Made Simple system follower - Thanks to eelfranz 9 replies

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Trading Made Simple

  • #69,441
  • Jun 8, 2016 9:28am Jun 8, 2016 9:28am
Quoting emmanuel7788
{quote} Hi Pete, I see you have 2 open trades and with buy stop waiting above. I wait for EOD close, then will protect all my trade entries at BE+. Then will add one more trade tomorrow morning when Sydney ASX open. I see two potential nearby term resistance 1257 and 1263 on my D1 chart. Otherwise, if there are no major market adverse events in the next few days, I target 1283 long term. Just focus my tasks to manage the Downside, let the market decide the Upside. {image} I am also thinking of my other option to trail all trades below yesterday...
Thank you Emmanuel,
I read your advice a bit late I took profit at 1255.
Your teaching is great.

Best regards,
  • #69,442
  • Jun 8, 2016 7:26pm Jun 8, 2016 7:26pm
EURNZD +200 pips (2000 baby pips)
Attached Image (click to enlarge)
Click to Enlarge Name: EURNZDH4.png Size: 51 KB
  • #69,443
  • Jun 8, 2016 7:33pm Jun 8, 2016 7:33pm
Quoting pete.alfa
{quote} Thank you Emmanuel, I read your advice a bit late I took profit at 1255. Your teaching is great. Best regards,

profit is good...

today it will have to overcome 1263 and struggle its way to target

protect all trades at 1250.

Attached Image (click to enlarge)
Click to Enlarge Name: XAUUSD Week 23 D1 chart update Jun 9.png Size: 47 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #69,444
  • Jun 8, 2016 7:40pm Jun 8, 2016 7:40pm
Quoting BridgeWater
EURNZD +200 pips (2000 baby pips) {image}

very nice 200pips.

RBNZ kept its 2.25%, unchanged.
NZDUSD made a new year high 2016

and EURNZD and GBPNZD went way lower

this market reaction is same when RBA kept its 1.75% rate.

Nice profits to close this week's trading.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #69,445
  • Jun 8, 2016 7:45pm Jun 8, 2016 7:45pm
Hi Emmanuel,
See they giving you a bit of a hard time in the other thread...

They should read and study your posts! If only some of them followed your laid out plan you posted here they would actually thank you and make some money!!

Thanks for giving us so much!!

Im over 3.5% so far this week. Can't wait to see your weekly update.. GCad..+400pips and counting?



Quoting emmanuel7788
{quote} {quote} AUDUSD and EURUSD: My trade plan for next week. We have seen a nice bullish breakout on NFP Friday for these pairs. The dominant trend is still down and there is no reversal seen yet but we can trade the continuation of last week' bullish candle with ME/ME. For those learning and demo practice with ME/ME, these are good example how you can practice next week. Trade entry is when week open when NY open in few hours. Post your charts with demo trades and ask any questions and I will explain as the week progresses and the trade management....
  • #69,446
  • Jun 8, 2016 7:48pm Jun 8, 2016 7:48pm
Quoting JonW
Hi, I've been following this for a few months, done reading, made quite a few trades on the 4h TF. Personally, it has been quite unsuccessful, however as people have stated before, this is not as simple as the original method anymore. I have tried the pipware multi time frame, which gave me information overload. My current chart has the Real Time Synergy Pro TDI with PAC and APB. I've added manual S/R, but also tried an indicator/d pivot indi. I do not trade around high impact news either. Does anyone still trade with the original indicators on...

JonW,

Just read and follow all the posts and training charts of eelfranz aka Big E.

Discard everything which cause you to suffer from information overload. Remember to keep it simple and no clutter on your trading charts.

Use the indicators and template in Post#25 for a start.

The pipware multiple charts is only to show the market in different timeframes on one screen without the need to switch our chart timeframe. The TMS monitor is just a tools which I used to monitor my trading pairs. These are add-on tools which does not influence our trading decision. We make all our trading decision on the chart timeframe we chose to trade.

Post your trading charts and ask any questions here. There are experinced traders here who will help you.

Trade Well.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #69,447
  • Jun 8, 2016 7:58pm Jun 8, 2016 7:58pm
Quoting bigpips
Hi Emmanuel, See they giving you a bit of a hard time in the other thread... They should read and study your posts! If only some of them followed your laid out plan you posted here they would actually thank you and make some money!! Thanks for giving us so much!! Im over 3.5% so far this week. Can't wait to see your weekly update.. GCad..+400pips and counting? {quote}

No worries. I am used to all the emmanuel haters here in FF. They fly in flocks too. There is never a dull moment in my life. They are all newbies talking very loud. They are losers and have closed minds. They are too emotional over little things and their beliefs.. Like I say, they should measure their results over 2 to 3 years to see what sort of traders they are. The market will teach them and they will pay a very high price and many will lose their shirts for their ignorance and being naive about trading the markets. I may sound arrogant saying these, but 30 years trading the markets has taught me a lot.

Our trade plan for this week work out well. All 3 pairs made money and I close this week on a high.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #69,448
  • Jun 8, 2016 9:12pm Jun 8, 2016 9:12pm
Quoting emmanuel7788
{quote} very nice 200pips. RBNZ kept its 2.25%, unchanged. NZDUSD made a new year high 2016 and EURNZD and GBPNZD went way lower this market reaction is same when RBA kept its 1.75% rate. Nice profits to close this week's trading.
This is recovery week for me, for now, my last week loss has been restored on this trade
  • #69,449
  • Jun 8, 2016 9:41pm Jun 8, 2016 9:41pm
An interesting discussion thread started by cat.

http://www.forexfactory.com/showthread.php?t=594052
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #69,450
  • Jun 8, 2016 9:45pm Jun 8, 2016 9:45pm
Quoting BridgeWater
{quote} This is recovery week for me, for now, my last week loss has been restored on this trade

Taking losses is an integral part of this trading business and is inherent in every winning trading system by Dr Van Tharp.

I keep my drawdown small (not more than 10% DD in every trading cycle) and manageable for quick recovery. This is an important key to maintain consistency and to grow your trading capital.

Read up on Drawdown management.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #69,451
  • Jun 8, 2016 11:44pm Jun 8, 2016 11:44pm
Hi emmanuel7788,

Thanks for continuing to support us newbie and experienced traders alike. I have been viewing this thread for a few days now and I must say the wealth of information found in this thread is surprising. Truly appreciate everyone's input in this thread.

I have been trying to follow along with a small wad of cash as my capital but haven't successful so far, but I will keep learning. Hopefully I can begin to see hard work pay off.

Also hope to be an active [nightly] contributor to this thread eventually! Thanks again...
  • #69,452
  • Jun 9, 2016 12:25am Jun 9, 2016 12:25am
Quoting whitewid0w
Hi emmanuel7788, Thanks for continuing to support us newbie and experienced traders alike. I have been viewing this thread for a few days now and I must say the wealth of information found in this thread is surprising. Truly appreciate everyone's input in this thread. I have been trying to follow along with a small wad of cash as my capital but haven't successful so far, but I will keep learning. Hopefully I can begin to see hard work pay off. Also hope to be an active [nightly] contributor to this thread eventually! Thanks again...

Hi whitewid0w,

Thanks for dropping by and your kind words. I know it has become very difficult for newbies to learn anythi g from this huge thread of 69k posts.
I have not found an easier way to help you folks except to repeated answer the same questions asked over and over again. This is not a problem for me when I see members genuinely want to learn to trade and to trade the 5-Method.
Start by trading the H4 and D1 chart timeframes, you will find better setup with higher probability wins. Trading H1 when you do not have good experience in price action trading with support and resistance can cause traders to lose confidence in the trading method. When you do have any questions, please post them and post with a chart. I will try my best and to find time to help you and everyone here.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #69,453
  • Jun 9, 2016 12:33am Jun 9, 2016 12:33am
[quote=emmanuel7788;8966365]{quote} One of my rule is "take what the market gave me, give little back..." and close observation of the BPP and price action.

Just focus my tasks to manage the Downside, let the market decide the Upside.

Hi Emmanuel.

I am having a good week, not in terms of winning pips (i am on dome anyway), but dedicating more time to learn TMS, which i am enjoying. I have two of your quotes which are related to trade management but different. Can you please explain these 2 different approaches if possible on sample charts?

Thank you very much.
  • #69,454
  • Jun 9, 2016 1:05am Jun 9, 2016 1:05am
Quoting okoso
Quoting emmanuel7788
{quote} One of my rule is "take what the market gave me, give little back..." and close observation of the BPP and price action. Just focus my tasks to manage the Downside, let the market decide the Upside. Hi Emmanuel. I am having a good week, not in terms of winning pips (i am on dome anyway), but dedicating more time to learn TMS, which i am enjoying. I have two of your quotes which are related to trade management but different. Can you please explain these 2 different approaches if possible on sample charts? Thank
...

1st post quote refers to GBPCAD

2nd post quote refers to XAUUSD

are there any difference in the two trading charts?
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #69,455
  • Jun 9, 2016 1:37am Jun 9, 2016 1:37am
Quoting MoneyMikeFx
{quote} Hey Luvene, I my self tried this method with Big E and now it's pretty much complicated. Check this thread out it similar to Big E's method but more profitable. Oh and this thread current leader is over there using this method. http://www.forexfactory.com/showthread.php?t=588548

Hi MonetMikeFX,

Sorry to learn that you did not make money with TMS 5-Method. Don't blame the method and the people in this thread. You do not have the knowledge and experience yet. Your trading skills is evidently very lacking. You also did not learn from these two very important posts: Post#261 and Post#647. You need to start all over again at www.babypips.com/school

I went over to Medhi "lower risk, stress free TDI system" to see what the heck is lower risk and stress free about a trading method which is a copy from eelfranz 5-Method. I went there not that I am trading Medhi methods but to share what members missed in the two posts I mentioned above.

See EURJPY example below:
I also posted this chart yesterday in reply to one member there.

TMS traders will know when to avoid low probability trade setups and not simply rely on indicators for signals which newbie like you do too often for too long.
Price Action at Support and Resistance is 'leading' any indicator you use.

Attached Image (click to enlarge)
Click to Enlarge Name: EURJPY TMS 5-Method example.png Size: 91 KB



Trade Well.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #69,456
  • Jun 9, 2016 1:37am Jun 9, 2016 1:37am
Quoting emmanuel7788
{quote}{quote} 1st post quote refers to GBPCAD 2nd post quote refers to XAUUSD are there any difference in the two trading charts?
Yes, I see the difference, on GBPCAD there is a strong support nearby. Sometimes, answering a question with a question is a better way of teaching.

Thank you.
  • #69,457
  • Jun 9, 2016 1:49am Jun 9, 2016 1:49am
Quoting okoso
{quote} Yes, I see the difference, on GBPCAD there is a strong support nearby. Sometimes, answering a question with a question is a better way of teaching. Thank you.


exactly what I do here is to help you all open your third eye and perform the task when trading TMS.

this way, whatever we learn will be programmed in our brains and trading will become more intuitive., and we will response and pull the trigger much quicker in live market.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #69,458
  • Jun 9, 2016 4:04am Jun 9, 2016 4:04am
Hi Emmanuel,
Firstly i have to say thank you for your patience and prompt reply to my questions. each time you answer my question I can learn a lot from it and get obvious improvement on understanding of trading.
Now i have problem on exits. i always remind myself must cut loss quickly and now there is a H4 SHOR SETUP on EURUSD after my 2 opening LONG ME positions(actually it became 3 when i finished this post). Shall i exit right now? but if we always exit when there is opposite SETUP how can we get 3.5 ME positions on average? do you think there should have Discretion on it or not according to PA or SR?
i believe some other person also have this problem who try using MEME method. shall we make some rule to handle this kind of situations? if not how can we know it is a retracement or reversal? i feel that exit is more difficult than entry.

best regards!
kevin
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDH4.png Size: 499 KB
  • #69,459
  • Jun 9, 2016 6:01am Jun 9, 2016 6:01am
Quoting Upnow
Hi Guys/Gals I am new to trading I was wondering should I get a EA or subscribe to a signal service? any suggestions
I would suggest you do neither of those, get a practice account and go over to Babypips.com I know it sounds a bit patronising but they have a free and excellent school which will teach you all you need to get started. I think you'll find most of the successful trader here have spent time there at one point or another.
If you're hell-bent on playing with real money before you have done the boring stuff of learning, (like so many of us were ) at least make sure you're only using 'beer money'. don't get suckered into buying ANYTHING, there is no magic bullet, no 'secrets' and no mystery, winning in this game is a question of learning what you're doing and applying the knowledge diligently over a long period of time.

Good luck and don't forget to have a laugh along the way.
Don't ask me, I have no idea what's going on.
  • #69,460
  • Jun 9, 2016 7:33am Jun 9, 2016 7:33am
Quoting kevinfeng
Hi Emmanuel, Firstly i have to say thank you for your patience and prompt reply to my questions. each time you answer my question I can learn a lot from it and get obvious improvement on understanding of trading. Now i have problem on exits. i always remind myself must cut loss quickly and now there is a H4 SHOR SETUP on EURUSD after my 2 opening LONG ME positions(actually it became 3 when i finished this post). Shall i exit right now? but if we always exit when there is opposite SETUP how can we get 3.5 ME positions on average? do you think there...

Hi Kevin,

This trade plan is based on D1 chart. We do not manage on H4.
Look at Weekly which my trade plan was based on. The SL is below last 2 weeks low.
I open my first trade on Monday open but it did not move for 2 days until yesterday, I took +50pips and now have same 3 open trades like yours.
Looking at the D1 price action for 4 days this week, it look like it will not move much. If we can breakeven all trades anytime or maybe cut all open trades and take the loss tomorrow would be my decision.
In worst case, the market retrace into 50% of last week candle then I would cut loss immediately.

Try and manage... mental strength.

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD Week 23 trades update mngt June 9.png Size: 36 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
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