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Trading Made Simple

  • #70,581
  • Aug 7, 2016 8:03pm Aug 7, 2016 8:03pm
Quoting kain775
{quote} This looks like both trend following and also counter trend trading to me [unless i'm missing something] http://www.forexfactory.com/showthre...65#post4572665
There is a trend in every different timeframe. When we pick a timeframe and trade that trend of that moment, we are trend trading. It can be the Primary Trend or the Intermediate Trend of the Secondary Trend.

But if we try and pick the tops or the bottoms thinking that the trend has ended, that is what most trend faders will try and do. They will blast the market with many small trades using very small lots size and sell when the prices are still rising thinking that the trend had ended at certain price levels and market will reverse. They hang on to their small trades and try hang on to the floating drawdown in the trading accounts thinking that the market will soon reverse in their favour. These type of traders suffered many margin calls in the last 4 years with their small trading account deposits. What do they do? they top up their account or open a new one and repeat this. Then they will realised that whatever they are using won't help them achieve their dream to turn run $5K into one $million in 4 years. They debunked what they had used before and will try something new and create a new system every 18 months.

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I made some comments on that Big E' training chart post you linked.
That is a very good example, market was trending H>L, HH>HL,... then become toppisch before it reversed.
Attached Image (click to enlarge)
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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #70,582
  • Aug 7, 2016 8:55pm Aug 7, 2016 8:55pm
Quoting emmanuel7788
{quote} Hi, I know from other traders that it work on mini lot accounts. I am not sure abut the micro lot but you can test that using one trade next week to make sure it work with your broker account type. Test the multiple TPs exit and verify the results to make sure it calculate the lot size for every exit correctly. Or you can PM me your broker and I try open a micro lot account and do some testing in the coming weeks. regards,
Many thanks Emm. I will test this and let you know.
Live life king size !
  • #70,583
  • Aug 7, 2016 9:03pm Aug 7, 2016 9:03pm
Quoting emmanuel7788
here is another way how you can see if the TDI Green actually cross the Red. For those precision engineers who trade... {image}
Beautiful chart.
Once 2nd candle closes, the TDI crosses. It means it is the open pf 3rd candle if you want to enter the trade, which does match the rule. Do I understand correctly?
Trade your belief, trade like Emmanuel
  • #70,584
  • Edited 10:25pm Aug 7, 2016 9:05pm | Edited 10:25pm
Greetings everyone,
NZD/CAD H1. 2HR BEOB. Hit target 38 pips profit. SL just above last candle high. 1st TMS trade. Entry 4th candle back (2nd red candle after colour change), TDI bounce south green off red. Will mark entry next time, forgot. Please excuse the look of the candles as i'm new to HA and used to Jap candles for reading PA. Experimenting with HA and TMS method and still learning, so candles will settle in soon. (ignore limit order above trade)

Was first here in May 2011 at beginning of my FX journey. Back again full circle! lol. Enjoyed reading first 180 pages of thread over weekend, and good to see talk and quotes of Big E's method still kicking 5 years on! Emmanuel, i'm still catching up on recent pages of the thread, but like the way you quote Big E's posts with obvious reverence, care and respect and keep things rolling. Great week to all. GB.

Attached Image (click to enlarge)
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'Fail to plan, plan to fail'
  • #70,585
  • Aug 7, 2016 10:52pm Aug 7, 2016 10:52pm
Thanks for your guidance.

USDCAD:
ADR 52 weeks: 257 pips

Monthly Primary trend- bullish as price above ema(10,close), made higher high for last 2 months
Weekly intermediate trend- bullish as price above ema(10,close), made bullish engulfing last week
I trade only on D1(preferred) or H4

My best guess is the market is in(2) sideways wide range (not sure, please correct me if wrong). I would be a buyer. As price climbed a bit on Friday following NFP, would you wait for retracement?



Quoting emmanuel7788
{quote} Hi, I decide my trade plan based on my Big Picture Planning BPP done over the weekend after the NY session closed on Fridays. The BPP will help me determine the market type of the currency pairs. In keeping it simple, we defined three(3) market types:- 1) Trending 2) Sideways Wide range 3) Sideways Narrow range There can be more different market types, but we keep it simple because TMS 5-Method is good for trading the 1) Trending and 2) Sideways Wide Range market types. The Sideways Narrow range market type is very difficult to trade with...
  • #70,586
  • Aug 8, 2016 1:44am Aug 8, 2016 1:44am
Quoting dewdrops
Thanks for your guidance. USDCAD: ADR 52 weeks: 257 pips Monthly Primary trend- bullish as price above ema(10,close), made higher high for last 2 months Weekly intermediate trend- bullish as price above ema(10,close), made bullish engulfing last week I trade only on D1(preferred) or H4 My best guess is the market is in(2) sideways wide range (not sure, please correct me if wrong). I would be a buyer. As price climbed a bit on Friday following NFP, would you wait for retracement? {quote}

Hi,

Not sure about your broker data.
but my ATR(52) week is 282 pips, ATR(100) days is 123pips.

Overall view is sideways but more to the bullish side.

Looking at D1 chart, a simple trade on H1 would be to buy around 1.3200 with target 1.3300, initial SL below the D1 WRB low, or 1.3000

Attached Image (click to enlarge)
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Attached Image (click to enlarge)
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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #70,587
  • Aug 8, 2016 1:51am Aug 8, 2016 1:51am
Quoting emmanuel7788
{quote} Hi, Not sure about your broker data. but my ATR(52) week is 282 pips, ATR(100) days is 123pips. Overall view is sideways but more to the bullish side. Looking at D1 chart, a simple trade on H1 would be to buy around 1.3200 with target 1.3300, initial SL below the D1 WRB low, or 1.3000 {image} {image} {image}
Just had a maybe stupid question. What's the easiest way to get ATR(52) week or ADR(100) number?

What I did last weekend is to draw 2 SMA which is set to 100, let's says for ADR(100). One is to use High, another is to use Low. Then I manually check the distance of them for last Fri.

Any better way to do that?
Trade your belief, trade like Emmanuel
  • #70,588
  • Aug 8, 2016 2:00am Aug 8, 2016 2:00am
Quoting muyir
{quote} Just had a maybe stupid question. What's the easiest way to get ATR(52) week or ADR(100) number? What I did last weekend is to draw 2 SMA which is set to 100, let's says for ADR(100). One is to use High, another is to use Low. Then I manually check the distance of them for last Fri. Any better way to do that?
see this post:
http://www.forexfactory.com/showthre...47#post9059047

do the same with ATR set to period 52 and Visualization tab only to show on W1 chart timeframe.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #70,589
  • Aug 8, 2016 2:13am Aug 8, 2016 2:13am
Quoting emmanuel7788
{quote} The 200EMA is not part of the original 5-Method. If you want to add the 200EMA to your trading chart, make sure you know what it is use for and then you must wriet your own rules to include the 200EMA in your trading decision. Some posts on the Power of the 10EMA you should first read and understand what it is all about. http://www.forexfactory.com/showthre...ma#post8392071 http://www.forexfactory.com/showthre...ma#post8393112 http://www.forexfactory.com/showthre...ma#post8439079...
Thank you for the clarification emmanuel I will keep that in my mind I will also read the posts you have mentioned. Thanks again
  • #70,590
  • Aug 8, 2016 3:36am Aug 8, 2016 3:36am
A newbie question

Do the chart patterns(Head and Shoulders, Double Top etc) and Candlestick patterns(Doji, Harami etc) we see in normal Japanese Candlesticks means the same in Heiken Ashi candles too? Does the price action behave the same way?
  • #70,591
  • Edited 8:15am Aug 8, 2016 4:05am | Edited 8:15am
valid H4 Setup
DT
price under EMA5
TDI under yellow line
TDI angle is indecision (not good, 3-5)
stoch under 50 line, good cross
SL above swing, TP support

please comment
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  • #70,592
  • Edited 5:24am Aug 8, 2016 5:05am | Edited 5:24am
Good day friends. Sorry for my bad English. Please tell me how to host multiple timeframes in one chart, as in the photo. MT4
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  • #70,593
  • Aug 8, 2016 5:25am Aug 8, 2016 5:25am
Quoting emmanuel7788
{quote} Hi, I decide my trade plan based on my Big Picture Planning BPP done over the weekend after the NY session closed on Fridays. The BPP will help me determine the market type of the currency pairs. In keeping it simple, we defined three(3) market types:- 1) Trending 2) Sideways Wide range 3) Sideways Narrow range There can be more different market types, but we keep it simple because TMS 5-Method is good for trading the 1) Trending and 2) Sideways Wide Range market types. The Sideways Narrow range market type is very difficult to trade with...
Please send comments if I am correct or wrong
Attached Image(s) (click to enlarge)
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  • #70,594
  • Aug 8, 2016 7:11am Aug 8, 2016 7:11am
Quoting SlownSteadyy
A newbie question Do the chart patterns(Head and Shoulders, Double Top etc) and Candlestick patterns(Doji, Harami etc) we see in normal Japanese Candlesticks means the same in Heiken Ashi candles too? Does the price action behave the same way?
Normally, Chart Pattern studies and Price Bar Patterns / Candlestick Patterns studies only apply to the use of either Price Bar charts and Candlesticks charts.
I have not known of anyone using the Heiken Ashi candles for charts and candle patterns.

This is why I use the chart switch to Bar chart type and view the real Price Bar over the APB/HA candle.

below example of chart pattern and price bar pattern.
note the close relation with the chart patterns with the TDI crosses.

Attached Image (click to enlarge)
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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #70,595
  • Aug 8, 2016 7:14am Aug 8, 2016 7:14am
Quoting Andrew92
Good day friends. Sorry for my bad English. Please tell me how to host multiple timeframes in one chart, as in the photo. MT4 {image}

this month's Frequently Asked Question FAQ:

Post#70,517
http://www.forexfactory.com/showthre...89#post9066489
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #70,596
  • Aug 8, 2016 7:17am Aug 8, 2016 7:17am
Quoting Trader MT4
{quote} Please send comments if I am correct or wrong {image} {image} {image} {image}
very good to do top down analysis with naked charts.
nothing right or wrong about it.

the only one who is right is the Market.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #70,597
  • Edited 7:28am Aug 8, 2016 7:21am | Edited 7:28am
Quoting Trader MT4
valid H4 Setup DT price under EMA5 TDI under yellow line TDI angle is indecision (not good, 3-5)) stoch under 50 line, good cross SL above swing, TP support please comment {image}
looks good.

you did not mention anything with Price Action at Support&Resistance PASR...

but I see a good trade setup with PASR setup with room for TP at the next support below.

Edit: add chart...
Attached Image (click to enlarge)
Click to Enlarge Name: GBPCAD support become resistance.png Size: 113 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #70,598
  • Aug 8, 2016 7:31am Aug 8, 2016 7:31am
emmanuel7788, Thank you so much! Good trading to you
  • #70,599
  • Edited 8:24am Aug 8, 2016 8:08am | Edited 8:24am
Another setup
EUR CAD this moment

is it valid?
I see Lower Low and Lower High
I see H&S (Head and Shoulders) too.
Attached Image (click to enlarge)
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  • #70,600
  • Aug 8, 2016 8:13am Aug 8, 2016 8:13am
Quoting emmanuel7788
{quote} looks good. you did not mention anything with Price Action at Support&Resistance PASR... but I see a good trade setup with PASR setup with room for TP at the next support below. Edit: add chart... {image}

I see room to Support
Attached Image (click to enlarge)
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