Trading Made Simple | Page 3614 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Monitor for 'Trading Made Simple' system 565 replies

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

Indicators for the 'Trading Made Simple' system 343 replies

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

Trading Made Simple system follower - Thanks to eelfranz 9 replies

Attachments: Trading Made Simple
Exit Attachments

Trading Made Simple

  • #72,261
  • Oct 13, 2016 6:08pm Oct 13, 2016 6:08pm
Quoting billycajun93
Can anyone help me out in understanding this chart? TDI shows steep downward RSI but Stochastic is at oversold. Is this a good short sell? {image} thanks!
Hi Billy,
Of course easier to swim with the current but there will always be obvious S/R areas where the current changes direction. From what I have seen to date the safer TDI cross for a short is under the yellow line to trade with the current. however most likely be above the yellow to short at good resistance level. On the Stochastic check the history of the stochastic on that and other pairs, it is possible for the Stochastic to shown oversold while the pairs continues down for several hundred pips eg daily chart of euraud from early June to mid July around 700 pips
  • #72,262
  • Oct 13, 2016 6:08pm Oct 13, 2016 6:08pm
Quoting Azk
{quote} So it's fair to say that we avoid going long on this one until we see the D1 change direction? Is that right? Just want to make sure that I am understanding it correctly. Thanks.
Big E has several discretionary rules which he check when he was trading.
One of his rule is to know the short term and long term trends.
But he did not mentioned which timeframes he used to determine his short term and long term trends.

When we want to take any counter-trend trades, we must have our own rules and we must know what are the risks for every trade setups we see on our trading charts.
Every trade setup has its SWOT = Strength, Weakness, Opportunity and Threat.

As for the EU H4 setup, it was clearly against the recent Days down 'trend'. The long term trend W1 is sideways ranging.
When I trade H4, I look at the W1 and try catch those swing high and swing low during the same week.
This week, H4 start with a week high at 1.1200 and already made 100% of its 52-weeks ATR(52) W1 of 215 pips down move. This is quite normal for wide ranging market.
So a correction is likely when the Weekly ATR is reached and we can possibly 'scalp' the correction like yesterday's H4.
Looking at the H4 candles, there were no big candles or small candles to the left of that H4 setup. The candle were pretty much 'regular' size candles.
As traders, we must learn to make decisions based on our own experience hence make those discretionary decision to take a trade or not take a trade.
Trading is a skill based activity and as we have more experience through Deep Practice, trading decision becomes intuitive and we follow our trading tasks and pull the trigger.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #72,263
  • Oct 13, 2016 6:11pm Oct 13, 2016 6:11pm
Quoting Daniel 777
Hi all, Been following along for a month and trying to learn this method. Thank you to all who contribute. Daily sell taken on EUR/AUD. Targeting 1.450. To all you TMS guys who have this licked, does this seem an ok trade for a daily timeframe? {image}
I think the TDI angle is not good enough to validate the set up?
  • #72,264
  • Oct 13, 2016 6:35pm Oct 13, 2016 6:35pm
Quoting emmanuel7788
{quote} Big E has several discretionary rules which he check when he was trading. One of his rule is to know the short term and long term trends. But he did not mentioned which timeframes he used to determine his short term and long term trends.
Funny, he did state it in the Big E sort of way, someone asked him this
Quoting stimuls
Do you ignore TDI crosses which are against the main trend? What is your method for determining trends, looking at higher time frames or just looking at the 4hr trend? Thanks.
and he replied
Quoting eelfranz
Trend... long term and short term... I take a chart and make the candles as small as they will go to find the direction of the long term trend... Then I enlarge them to my normal trading size for the current short term trend... If they are the same I feel I have better odds on my side... if they are opposite I may trade less lots per trade... I will pay more attention to the last swing (candle size & length)... That kind of stuff...
So there you go, he just uses the same timeframe, this is trading made simple, might as well keep trending simple as well.
I have given an example. Long term 1h trend on eurusd is netural, went up, went sideways, slight down to be at the same price the chart started at.
Short term trend is down.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurusd_long_term_trend_1h_14th_october_2016.png Size: 69 KB
Click to Enlarge Name: eurusd_short_term_trend_1h_14th_october_2016.png Size: 61 KB
  • #72,265
  • Edited 8:17pm Oct 13, 2016 7:47pm | Edited 8:17pm
Quoting catalin_eros
{quote} Not with the cross happening in the OS zone. But I'll be in the blue zone, looking for shorts. Lock and load! {image}
EURUSD H1 Closing in 20 minutes. Watching those levels.....

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD_-_H1.png Size: 15 KB


Edit: Slopes below threshold so not yet interested.

Regards.
  • #72,266
  • Oct 13, 2016 8:04pm Oct 13, 2016 8:04pm
I just saw this counter trend setup prior to bed time. I took the Long based on the previous few days of sideways price action and nice TDI cross above yellow and divergence on stochastic and TDI. Forgot to change TP to 25pips and got out with just 16pips based on tdi cross etc.
Attached Image (click to enlarge)
Click to Enlarge Name: eu 1hr counter trader.JPG Size: 84 KB
  • #72,267
  • Oct 13, 2016 8:21pm Oct 13, 2016 8:21pm
Quoting Daniel 777
Hi all, Been following along for a month and trying to learn this method. Thank you to all who contribute. Daily sell taken on EUR/AUD. Targeting 1.450. To all you TMS guys who have this licked, does this seem an ok trade for a daily timeframe? {image}
Hi Daniel,
I also entered this trade but the day before. Nice TDI cross under the yellow. I think 1.4550-1.4560 area is safest target for this but I currently have my target at low of swing low area from 10th Aug which would complete the head & shoulder pattern im visualizing but subject to change nearer 1.4450 (weekly support)
Attached Image (click to enlarge)
Click to Enlarge Name: euraud D1 12th Oct.JPG Size: 115 KB
  • #72,268
  • Oct 13, 2016 8:31pm Oct 13, 2016 8:31pm
Quoting PackRat22
I just saw this counter trend setup prior to bed time. I took the Long based on the previous few days of sideways price action and nice TDI cross above yellow and divergence on stochastic and TDI. Forgot to change TP to 25pips and got out with just 16pips based on tdi cross etc. {image}
Well done Bro; excellent Analysis.

Cheers.
  • #72,269
  • Oct 13, 2016 8:54pm Oct 13, 2016 8:54pm
took this 4hr trades a few min back already in green
Second trade is a bounce
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Screen Shot 2016-10-13 at 8.45.34 p.m..png Size: 104 KB
Click to Enlarge Name: Screen Shot 2016-10-13 at 8.45.31 p.m..png Size: 94 KB
  • #72,270
  • Oct 13, 2016 10:57pm Oct 13, 2016 10:57pm
Quoting krismitt
{quote} EURUSD H1 Closing in 20 minutes. Watching those levels..... {image} Edit: Slopes below threshold so not yet interested. Regards.

Yes, Good to sell with PA+SR+TMS 5-Method
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #72,271
  • Oct 13, 2016 10:59pm Oct 13, 2016 10:59pm
Quoting emmanuel7788
Sydney first 2 hours of trading are usually very quiet with low liquidity. Tokyo will open in 2 hours time. \ \ Look at AUDUSD, AUDJPY and EURJPY {image} Pick the best looking pair according to TMS setup rules and try get that 15 to 20 pips every morning. If Plan A fails, use Plan B. If Plan B also fails then Plan C usually will work out. Do you have the right mental strategy for this way of very short term trading?
I picked AJ and EJ using the TDI conservative way.

Attached Image (click to enlarge)
Click to Enlarge Name: AUDJPY Oct 14 H1 TOK trades.png Size: 25 KB


Attached Image (click to enlarge)
Click to Enlarge Name: EURJPY Oct 14 H1 TOK trade.png Size: 23 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #72,272
  • Oct 13, 2016 11:04pm Oct 13, 2016 11:04pm
Quoting mokuro89
Hi Emmanuel, You mentionated some posts earlier, that there is a script to plot the trades from history on the chart, w/o the need to manual drag each of them? What is the name of that?....
Here are the source codes(links)
https://www.mql5.com/en/code/9300
https://www.mql5.com/en/code/14564
https://www.mql5.com/en/code/10425
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #72,273
  • Oct 13, 2016 11:08pm Oct 13, 2016 11:08pm
interesting posts for those who ask frequently, did Big E check lower TF when he trade?


Quoting eelfranz
I'm so proud of you all... fabulous! Keep your charts coming and please help answer questions others ask... If your not sure when your charts update daily... call your broker and ask. If before making a trade... say on the 4 hr. chart... and you check quick the 1 hr. chart... if your going long on the 4 hr. and the 1 hr. is hooking over to go short... you have to realize you may have a pause in PA or possible small pullback coming on your 4 hr. chart... if the 1 & 4 hr are heading the same direction then you have momentum going for you. Please...

Quoting eelfranz
bythepound, Post #3790. Did you check the 4 hr. chart before taking the trade on the Daily chart? If you had at 2pm pacific you would have seen your one candle late on the 4 hr. and green & red were flat. I believe if you were monitoring the trade while in progress you would have made a profit... and maybe you did...
Quoting eelfranz
Michaelwen, Congratulations on your wins. As long as green continues up on the TDI I stay in the trade... Your exit worked too... Lets say I see a trade set up on the 4 hr. chart... I'll look down at the 1 hour chart to see what it's doing before entering. I don't check all time frames below the 4 hour.... just one time frame below the chart I want to trade.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #72,274
  • Oct 14, 2016 12:04am Oct 14, 2016 12:04am
EURUSD H4
good to sell advance TMS without the 5EMA.

PS+SR + APB + TDI

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD Oct 14 H4 GMT0500.png Size: 18 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #72,275
  • Oct 14, 2016 1:41am Oct 14, 2016 1:41am
Quoting griffinssoul
{quote} Jones is 1 of the gr8est traders in living history .....
Quote
Dont ever average losers. Decrease your trading volume when you are trading poorly; increase your volume when you are trading well. Never trade in situations where you dont have control. For example, I dont risk significant amounts of money in front of key reports, since that is gambling, not trading. Paul Tudor Jones

Big E scalp'n ....... advanced money & risk management [by advanced i dont mean complex just its hard 2 do without practice] ...... the idea is simple like Jones says - more when ur hot less when ur not
Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 36 KB
Attached Image
  • #72,276
  • Oct 14, 2016 1:58am Oct 14, 2016 1:58am
Quoting Trader MT4
{quote} Hi Griff, You trade on H4 or H1 and 15 min too? Dan
hey Trader MT4/Dan - H4 manual on MT4 ........ Phx62 & Lastingwell use 2 trade H1 - Davit & LK trade the M30 - try them on demo & find ur own style ....... ur style will show u which TF is good 4 u .......

Lastingwell[LW] said that 4 noobs its a good idea 2 practice entries on the M5 - u will get many more practice entries & build ur skill ......... LW use to get 100pips on M5 from 1 entry but i would not like 2 try that 4 real only on demo 4 practice
  • #72,277
  • Oct 14, 2016 2:11am Oct 14, 2016 2:11am
Quoting mokuro89
AUDJPY D1 Chart, will look for intraday sell oportunities after wake up for london session {image}
hey mokuro89 - Phx62 always said 2 trade wat u see ...... on the TF u r trade'n ...... wat i do is quick glances on the other TFs like Lastingwell showed me .......
Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 33 KB
  • #72,278
  • Oct 14, 2016 2:14am Oct 14, 2016 2:14am
Quoting krismitt
{quote} EURUSD H1 Closing in 20 minutes. Watching those levels..... {image} Edit: Slopes below threshold so not yet interested. Regards.
Emm said that when the trend is strong, we might not get a deep retracement. This might be just that case. Perhaps many will sell. I do not trading on Fridays, so I'll sit back and watch how others trade.

Anyway, I got stopped out on AC. I guess I paid the price for entering when the guppies were narrow... We can't win them all...
Attached Image (click to enlarge)
Click to Enlarge Name: AUDCADH4.png Size: 82 KB
  • #72,279
  • Oct 14, 2016 2:33am Oct 14, 2016 2:33am
Quoting catalin_eros
{quote} Emm said that when the trend is strong, we might not get a deep retracement. This might be just that case. Perhaps many will sell. I do not trading on Fridays, so I'll sit back and watch how others trade. Anyway, I got stopped out on AC. I guess I paid the price for entering when the guppies were narrow... We can't win them all... {image}
hey catalin - this is a bull flag [so now we know the market conditions] ...... this tells us its tight - only 90pips - no room 4 mistake - wat i do next is LookLeft ...... wat do we see ......... i c someting i dont like .......
Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 32 KB
  • #72,280
  • Oct 14, 2016 2:35am Oct 14, 2016 2:35am
Quoting anfei1972
{quote} Hi Tekkies, looking back quite a few bars, should be considered as consolidation as they all around a same level? Beginner and trying to learn, please don't feel offended. Thanks.
Hi none taken. Here to learn aswell. Reason for golden gross. Look at higher time frames.
H1, H4, D1 Cross down
H1 level 51, H4 level 54, D1 level 70 (overbought) W1 level 68 (at overbought)
H1, H4, D1 below market base line
Stoch going down on H1, H4, D1, W1
H1, H4, D1 bar colour red
Now my interpretation is that the market is going to go down. Consolidation happens when the market is uncertain which way to go and after 15 hours still in consolidation, almost like if the big institutions are waiting for something. It might be the USA presidential election on Tuesday, November 8, 2016 16 trading days from now. It will have the same effect as Brexit or some news announcement like CNY Consumer Price Index (YoY), USD Advance Retail Sales (SEP), USD Fed Chair Yellen Speaks at Boston Fed Conference today or something simply as the last day of the week.
80 traders viewing now