Trading Made Simple | Page 3652 | 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

  • #73,021
  • Nov 3, 2016 6:57pm Nov 3, 2016 6:57pm
Quoting catalin_eros
{quote} Your chart actually answers one of the questions I had about the mornin' quickie. It's the reason why I did not take GU this morning. I am trading the method for a very short period of time, so I still have question marks.
Like what Big E always said: 'do not trade when your are in consolidation'...

What really is TOK_5H? I know some people hate the use of acronyms but ...

It is a way to look at the first 5 hours of the Tokyo market session and we all know that the Asian market session is usually lower liquidity compared to the London and New York market sessions. Use that Tokyo 5 hours range as an opportunity to trade the breakout of that narrow trading range. Simple as that. You can never short of ideas how to trade during the day time. Follow the higher timeframe and the 5EMA Typical Price,Shift+3. When the price breaks out, the TDI will show anyway.

This is 'keep it simple' isn't it?
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #73,022
  • Nov 3, 2016 7:04pm Nov 3, 2016 7:04pm
I just wondered if I am looking correct to the market right now, can anyone confirm or am I too scared to enter market right now?

I did not place any entries on the latest 8hrs (trading on 4hr TF), as I thought a lot pairs were trading against the TMS rules, the ones who were candidates were ranging for some time or were too riskfull looking (close to resistance or support) and/or were broken out too big (didn't want to chase it)

I am really not sure, I could have taken some bounce trades but I mostly have bad experience with them. I rather go for the easy.

Shoot! I like to learn

Greetz,
bunne
  • #73,023
  • Nov 3, 2016 7:10pm Nov 3, 2016 7:10pm
Another question regarding upcoming news:

I am currently avoiding trades from pairs where one currency would have a major newsevent in the next 8-12 hrs... Is this too conservative? 4Hr timeframe again.

Any good advice on trading during news? Like for instance major AUD news/results, should I for example avoid NZD pairs too because those countries are close together and bad news from AUD could influence the NZD pairs too? Same from GBP and EUR or CAD and USD... soo many questions ;-)

Thanks
bunne
  • #73,024
  • Nov 3, 2016 7:11pm Nov 3, 2016 7:11pm
EURUSD Nov 4 Big Picture before the 'storm'.



as of now, the 'trend' is UP... trade when there is 'daylight'.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD Week 44 Big Picture view Nov 4.png Size: 91 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #73,025
  • Nov 3, 2016 7:18pm Nov 3, 2016 7:18pm
Recovery trading:

I have been asked a few times on what is recovery trading after taking a trade loss.

Not sure if you have read this post in eelfranz other thread. read it and share what your views are.

http://www.forexfactory.com/showthre...76#post3647076
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #73,026
  • Nov 3, 2016 7:31pm Nov 3, 2016 7:31pm
Quoting emmanuel7788
Recovery trading: I have been asked a few times on what is recovery trading after taking a trade loss. Not sure if you have read this post in eelfranz other thread. read it and share what your views are. http://www.forexfactory.com/showthre...76#post3647076
finally some insight.. I remember reading this!!!
It's in fear when people show what they truly value.
  • #73,027
  • Nov 3, 2016 7:52pm Nov 3, 2016 7:52pm
Quoting bunne
Another question regarding upcoming news: I am currently avoiding trades from pairs where one currency would have a major newsevent in the next 8-12 hrs... Is this too conservative? 4Hr timeframe again. Any good advice on trading during news? Like for instance major AUD news/results, should I for example avoid NZD pairs too because those countries are close together and bad news from AUD could influence the NZD pairs too? Same from GBP and EUR or CAD and USD... soo many questions ;-) Thanks bunne
Every hour there is some news/data release which affect the market. Every day there are events which also will affect the market.
When we trade with the 5-Method, we follow the higher timeframe 'trend' or direction and know its volatility.
We are seldom wrong when we know the market's direction and the market volatility.
We must learn to place our stops away from price levels where the volatility range is.
We must learn the use of % risk and do our trade position sizing to remain in the market by staying away from those volatility stop levels.
We should know that the currency market is complex and therefore we must learn what move the currency market.

Can trading the spot forex market be simple? Answer is NO.
Can the trading method be simple? Answer is YES.
So what the heck is the belief " keep it simple" all about?
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #73,028
  • Nov 3, 2016 7:55pm Nov 3, 2016 7:55pm
Quoting emmanuel7788
Recovery trading: I have been asked a few times on what is recovery trading after taking a trade loss. Not sure if you have read this post in eelfranz other thread. read it and share what your views are. http://www.forexfactory.com/showthre...76#post3647076
Option 1 and 2 are a little like martingale way and seems too risky.

Option 3 is not a recovery method.
Trade your belief, trade like Emmanuel
  • #73,029
  • Nov 3, 2016 9:02pm Nov 3, 2016 9:02pm
EURAUD Week 44 Big Picture Nov 4

with both strong AUDUSD and EURUSD in recent days, this pair struggles.

Attached Image (click to enlarge)
Click to Enlarge Name: EURAUD Week 44 Big Picture Nov 4.png Size: 104 KB


too early to sell, ... what about buy?
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #73,030
  • Nov 3, 2016 9:06pm Nov 3, 2016 9:06pm
Quoting emmanuel7788
{quote} Its 5 minutes to this current H4 close. there is no trade opportunity looking at the 8 pairs Big E traded. EJ is possible but the last candle was a huge one so not a good bounce trade. {image} http://www.forexfactory.com/showthre...68#post8753868
Hi Emmanuel,

Basically my confusion is, for example using this monitor, when should i look at the chart and enter? is it say 10mins before closing of the 4HR candle or right after the 4HR candle closed?

Also seen this before, wondering what are the criteria of its recommendation? is it the aggressive, moderate or active method? just TDI crossing?

THanks again for your help.
  • #73,031
  • Nov 3, 2016 9:08pm Nov 3, 2016 9:08pm
Quoting emmanuel7788
EURAUD Week 44 Big Picture Nov 4 with both strong AUDUSD and EURUSD in recent days, this pair struggles. {image} too early to sell, ... what about buy?
This is a helpful template in my opinion. Mind sharing the template? also wondering if you have a TDI template/indicator with the yellow line?

Sorry if this was already posted. This really is a huge thread and I may have lost it. cant remember reading a post with this templates.

~Oreo
  • #73,032
  • Nov 3, 2016 9:26pm Nov 3, 2016 9:26pm
Quoting Oreo07
{quote} Hi Emmanuel, Basically my confusion is, for example using this monitor, when should i look at the chart and enter? is it say 10mins before closing of the 4HR candle or right after the 4HR candle closed? Also seen this before, wondering what are the criteria of its recommendation? is it the aggressive, moderate or active method? just TDI crossing? THanks again for your help.

Hi,

when do you enter a H4 trade?
that depends on what you see in the PA.
sometimes we can enter when the APB#1 is still live i.e. before it closes.
other times we enter after APB#1 closed.

Do Not follow the TMS Monitor recommendation unless you know what it was coded to show. Read that thread and you will learn how that work.

We trade strictly following the 5-Method trade setup condition what we see on our trading chart and make sue we have done all the checks what was written in Post#647... important .
- we don not trade when we are in consolidation (the TMS Monitor does not show this)
- we do not trade when the price is near to close to support and resistance, (the TMS Monitor does not show this)
- we need to know what the short term trade is and also what the long term trend is, which the TMS Monitor does not show.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #73,033
  • Nov 3, 2016 9:28pm Nov 3, 2016 9:28pm
Quoting Oreo07
{quote} This is a helpful template in my opinion. Mind sharing the template? also wondering if you have a TDI template/indicator with the yellow line? Sorry if this was already posted. This really is a huge thread and I may have lost it. cant remember reading a post with this templates. ~Oreo

http://www.forexfactory.com/showthre...37#post9181937
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #73,034
  • Nov 3, 2016 11:07pm Nov 3, 2016 11:07pm
USDCAD Nov 4 CONSOLIDATION within that Master Candle at 1.3400 ... with big news / data release today.
note the very little "daylight' between the price and the 5EMA , the moving average has caught up with the price.
today may be the day to see the move to see more "daylight" again.


Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD Week 44 Big Picture view Nov 4.png Size: 66 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #73,035
  • Nov 4, 2016 1:49am Nov 4, 2016 1:49am
Quoting emmanuel7788
EURAUD Week 44 Big Picture Nov 4 with both strong AUDUSD and EURUSD in recent days, this pair struggles. {image} too early to sell, ... what about buy?
Very clear explanation.. you are a teacher..
  • #73,036
  • Nov 4, 2016 3:36am Nov 4, 2016 3:36am
Quoting emmanuel7788
Recovery trading: I have been asked a few times on what is recovery trading after taking a trade loss. Not sure if you have read this post in eelfranz other thread. read it and share what your views are. http://www.forexfactory.com/showthre...76#post3647076
Have been look into "Zone Recovering". About 8 page in Search
  • #73,037
  • Nov 4, 2016 3:40am Nov 4, 2016 3:40am
Quoting emmanuel7788
USDCAD Nov 4 CONSOLIDATION within that Master Candle at 1.3400 ... with big news / data release today. note the very little "daylight' between the price and the 5EMA , the moving average has caught up with the price. today may be the day to see the move to see more "daylight" again. {image}
Hi emmanuel7788! What a classical, bookish example of "CONSOLIDATION"!
Winners Never Quit, Quitters Never Win
  • #73,038
  • Nov 4, 2016 3:47am Nov 4, 2016 3:47am
NZDUSD D1 trade.....
Attached Image (click to enlarge)
Click to Enlarge Name: NZDUSDDaily.png Size: 48 KB
Winners Never Quit, Quitters Never Win
  • #73,039
  • Nov 4, 2016 3:50am Nov 4, 2016 3:50am
Quote
NZDUSD D1 trade....
nice trading mate
  • #73,040
  • Nov 4, 2016 5:25am Nov 4, 2016 5:25am
Quoting hsn100
NZDUSD D1 trade..... {image}

Entered 1 hr TMS set up on NZD/USD.
Attached Image (click to enlarge)
Click to Enlarge Name: Screen Shot 2016-11-04 at 10.24.17.png Size: 81 KB
45 traders viewing now, 1 is registered: