Trading Made Simple | Page 3794 | 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

  • #75,861
  • Feb 13, 2017 8:56am Feb 13, 2017 8:56am
Quoting okoso
Took short NZDUSD on H4. Price broke the MC low on 4H and looks like breaking the the low of the Mother bar of inside bar. okoso {image}
Watching that one too. Theres a strong support level near at 200EMA(green line). I'll wait for a clear breakout

http://www.forexfactory.com/webkit-f...e39/image.tiff
Fenix Capital Mgmt Return This Month: na
  • #75,862
  • Feb 13, 2017 10:32am Feb 13, 2017 10:32am
Quoting emmanuel7788
{quote} what about this price action trade? AUDNZD Week 07 Feb 13 H4.png;2184985 {image}
Price Action would dictate continuation uptrend. ( sorry, came in late and wanted to answer without first reading all the other replies)
First comes knowledge about yourself, then comes a system...
  • #75,863
  • Feb 13, 2017 2:42pm Feb 13, 2017 2:42pm
Oh well EU like watching paint dry up 3pips not a good day.
  • #75,864
  • Feb 13, 2017 3:16pm Feb 13, 2017 3:16pm
Quoting bob44
Oh well EU like watching paint dry up 3pips not a good day.

it normal to see slow Mondays.

but following the previous Week' candle, we can make some pips with Position Building while waiting for the paint to dry.

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD Week 07 H4 MEME trades closed.png Size: 29 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #75,865
  • Feb 13, 2017 3:30pm Feb 13, 2017 3:30pm
Quoting JanCeulemans
{quote} Price Action would dictate continuation uptrend. ( sorry, came in late and wanted to answer without first reading all the other replies)
well, we saw how last week AUDNZD made a strong rally hitting those Weekly pivots R38, R61 and R100 levels. Some who sold at those R38, R61 levels faced drawdwons in their accounts now. With last weeks huge Low-High of 298pips, this week's Weekly Pivots will be very much further apart therefore those who are trading using the weekly pivots for target must have their expectation set realistically.
Every new week, we have new weekly pivots level... the previous week's pivots are obselete but the BRN 00 and RN 50 levels are always there for us to look at the previous price action PPA for support and resisitance, for new potential reversal, etc.

Expect some correction after last week big move but no reversal seen yet. We wait... we have to look at the price action at RN 1.0650 this week.

Attached Image (click to enlarge)
Click to Enlarge Name: AUDNZD Week 07 weekly pivots.png Size: 78 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #75,866
  • Feb 13, 2017 3:35pm Feb 13, 2017 3:35pm
Quoting okoso
Took short NZDUSD on H4. Price broke the MC low on 4H and looks like breaking the the low of the Mother bar of inside bar. okoso {image}
we may see a Day Inside Bar breakout at 0.7200, more selling but careful where we place our initial stop loss... above 0.7300 would be 'safe'.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #75,867
  • Feb 13, 2017 3:44pm Feb 13, 2017 3:44pm
Quoting Pretoriano
Emmanuel,Gbp/Usd and Gbp/Nzd weekly are sideways and Gbp/Aud weekly is short. Are u talking about Daily-H4-H1 or what else? U enter about Daily trend using h1?

I always start looking at Monthly and Weekly when I do my weekend homework to see the overall market conditions if it is trending or sideways, if it is sideways, I check the range if it is narrow range or wide range.

At the start of the week, I look at top down - Weekly, Daily, ... the drill down to the lower timeframes.
Remember to use 3 timeframes, it is better than just using 1 timeframe.
Use Triple Screen approach by Dr Alexander Elder, it is a tested and proven approach even professional traders uses that.
read this post:
http://www.forexfactory.com/showthre...97#post9553297

you need to know that if you want to trade H1, your Primary Trend is the D1. You can buy and sell in the same day, by catching the intraday swings. But keep your target realistic knowing the Average Daily Range ADR.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #75,868
  • Feb 13, 2017 3:57pm Feb 13, 2017 3:57pm
technically, looking to short USDCAD today Feb 14.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #75,869
  • Feb 13, 2017 3:59pm Feb 13, 2017 3:59pm
Quoting emmanuel7788
{quote} I always start looking at Monthly and Weekly when I do my weekend homework to see the overall market conditions if it is trending or sideways, if it is sideways, I check the range if it is narrow range or wide range. At the start of the week, I look at top down - Weekly, Daily, ... the drill down to the lower timeframes. Remember to use 3 timeframes, it is better than just using 1 timeframe. Use Triple Screen approach by Dr Alexander Elder, it is a tested and proven approach even professional traders uses that. read this post: http://www.forexfactory.com/showthre...97#post9553297...
I've readed Alexander Elder book about triple screen approach,but Macd histogram or Adx (from Steve Notis) are always on late. Using 10 ema is better I think.

Today no trade with Weekly,Daily,h4. There is a possibile trade on Eur-Jpy but near a resistence/support so...no trade. Right?

Attached Image (click to enlarge)
Click to Enlarge Name: cT_cs_3176179_EURJPY_2017-02-13_22-57-32.png Size: 31 KB
Mi odino pure, purche' mi temano. (Gaio Cesare Germanico Caligola)
  • #75,870
  • Feb 13, 2017 4:10pm Feb 13, 2017 4:10pm
Quoting Pretoriano
{quote} I've readed Alexander Elder book about triple screen approach,but Macd histogram or Adx (from Steve Notis) are always on late. Using 10 ema is better I think. Today no trade with Weekly,Daily,h4. There is a possibile trade on Eur-Jpy but near a resistence/support so...no trade. Right? cT_cs_3176179_EURJPY_2017-02-13_22-57-32.png;2185640 {image}

what we do here is we use the Triple Screen approach and we only use the RSI or the TDI, no MACD or ADX.

the RSI/TDI shows us the price momentum of different periods, we trade following the price momentum.

price action also shows us the price momentum and the RSI/TDI only help to confirm the momentum.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #75,871
  • Feb 13, 2017 4:11pm Feb 13, 2017 4:11pm
Quoting emmanuel7788
{quote} it normal to see slow Mondays. but following the previous Week' candle, we can make some pips with Position Building while waiting for the paint to dry. EURUSD Week 07 H4 MEME trades closed.png;2185615 {image}
Closed the position 3 pips up. Reason the RSI priceline has turned flat on the 4HR chart Us market closed Got to stick to the rules, Tomorrow is another Day

Attached Image (click to enlarge)
Click to Enlarge Name: bbb.JPG Size: 89 KB
  • #75,872
  • Feb 13, 2017 4:12pm Feb 13, 2017 4:12pm
Quoting emmanuel7788
{quote} I always start looking at Monthly and Weekly when I do my weekend homework to see the overall market conditions if it is trending or sideways, if it is sideways, I check the range if it is narrow range or wide range. At the start of the week, I look at top down - Weekly, Daily, ... the drill down to the lower timeframes. Remember to use 3 timeframes, it is better than just using 1 timeframe. Use Triple Screen approach by Dr Alexander Elder, it is a tested and proven approach even professional traders uses that. read this post: http://www.forexfactory.com/showthre...97#post9553297...
Hi Emmanuel,

How do you reach your TP based on ADR? I normally go for 40% of the 10 days ADR, but not sure if that's correct.
  • #75,873
  • Feb 13, 2017 4:25pm Feb 13, 2017 4:25pm
Quoting emmanuel7788
{quote} what we do here is we use the Triple Screen approach and we only use the RSI or the TDI, no MACD or ADX. the RSI/TDI shows us the price momentum of different periods, we trade following the price momentum. price action also shows us the price momentum and the RSI/TDI only help to confirm the momentum.
I always find that the PBL yellow gives a good indication AND the also check the direction of the red ma line. Reasoning you would not take a trade using the Bollinger band which the TDI PBL is based on, nor would you take a trade using the RSI if the 7Ma is going in the opposite direction . Observation
  • #75,874
  • Feb 13, 2017 4:32pm Feb 13, 2017 4:32pm
Quoting bob44
{quote} Closed the position 3 pips up. Reason the RSI priceline has turned flat on the 4HR chart Us market closed Got to stick to the rules, Tomorrow is another Day bbb.JPG;2185650 {image}

you entered very late when the London session was over.

remember, yesterday was first day of this new week, so follow the previous week's candle close and look at the price action. There was a nice H4 pin bar, and that was the setup and you should enter after that H4 pin bar or the close of that H4 bar after that.

did you see the weekend price gap, how the gap was filled then price move back down...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #75,875
  • Feb 13, 2017 4:44pm Feb 13, 2017 4:44pm
Quoting emmanuel7788
{quote} you entered very late when the London session was over. remember, yesterday was first day of this new week, so follow the previous week's candle close and look at the price action. There was a nice H4 pin bar, and that was the setup and you should enter after that H4 pin bar or the close of that H4 bar after that. did you see the weekend price gap, how the gap was filled then price move back down...
I always check the 5day break out , and based my sell on that low price plus the TDI, anyway Emmanual I have no problems with the system it works well and It is simple , must be the Monday syndrome or paint drying Bob
  • #75,876
  • Feb 13, 2017 4:48pm Feb 13, 2017 4:48pm
Quoting fcaldas
{quote} Hi Emmanuel, How do you reach your TP based on ADR? I normally go for 40% of the 10 days ADR, but not sure if that's correct.

there is no correct ADR to use.
you need to know the recent market volatility and make a judgement as the trader.
compare the ATR(10), (30) and (100) on your D1 chart and you will see the changes over a longer number of days.
if you see the recent days being very volatile, the ATR(10) D may increase and you can miss the target of you use 10-days ADR.
most traders use the 30-days ADR.

Attached Image (click to enlarge)
Click to Enlarge Name: ATR compare.png Size: 37 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #75,877
  • Feb 13, 2017 5:29pm Feb 13, 2017 5:29pm
Stopped out. Put the SL too small.


Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 22 KB
  • #75,878
  • Feb 13, 2017 6:20pm Feb 13, 2017 6:20pm
Quoting emmanuel7788
GBPAUD GBPNZD classic setups GBPAUD Feb 13 H4 classic.png;2185008 GBPNZD Feb 13 H4 classic.png;2185010 {image} {image}
I took the GA long trade last night, so far did alright.

Hi Emmanuel, just a question regarding the classic setup, from your experience or backtesting, do you have a rough number about how many trades on average per month if I purely looking at classic setup based on H4/D1 chat, and only limiting trading on 8 majors?

Thanks

Fei
  • #75,879
  • Feb 13, 2017 6:55pm Feb 13, 2017 6:55pm
Market is pretty mix with the 3 amigos going in different directions.

AUDUSD market sentiments remains strong although it has been sideways since Feb 2. No long term shorts t the moment. Just trade the swings.
Attached Image (click to enlarge)
Click to Enlarge Name: TMS Monitor Feb 14 GMT0050.png Size: 15 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #75,880
  • Feb 13, 2017 6:59pm Feb 13, 2017 6:59pm
Quoting anfei1972
{quote} I took the GA long trade last night, so far did alright. Hi Emmanuel, just a question regarding the classic setup, from your experience or backtesting, do you have a rough number about how many trades on average per month if I purely looking at classic setup based on H4/D1 chat, and only limiting trading on 8 majors? Thanks Fei

on H4, for those 8 pairs Big E traded, you will find on average 5 good trades each week.

D1 charts trading is much better with more trades if you look at the 16 pairs I have on my watchlist and pick only the best 5 pairs every week. You must be prepared to run these pairs over several weeks in order to meet your financial goals.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
107 traders viewing now, 1 is registered: