Trading Made Simple | Page 3810 | 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

  • #76,181
  • Feb 21, 2017 9:06am Feb 21, 2017 9:06am
Quoting Tekkies
{quote} bistolis How do you find TMS with out stochastic (8.3.3). What help you to determent direction? Getting rid of one more indicator will be a step forward to a cleaner chart.
I start with the daily chart and then to lower frames to determine direction.
for example if the slope of the red line on the TDI on the 4H chart is sharp and there is a trend of 1-2 candles, then I look to buy/sell accordingly on lower timeframes.
my usual TF is the 6min chart for entries, i keep the 36min and 3H chart to get a better picture of a trend developing
whenever I dont make mistakes, it works fine since I have a good picture of support/resistance on the higher frames as well.
My goal is always to pick trends on reversals or continuation around previous S/R levels
  • #76,182
  • Feb 21, 2017 9:17am Feb 21, 2017 9:17am
This is how my chart template is like on the laptop lately. I am constantly trying to improve the layout
Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 74 KB

the extra MAs(30 35 40 45 50 60) are the "slow guppies" and I use it for visual help trading away from them or not trade at all if it is like it is now on the 6min on my chart
  • #76,183
  • Feb 21, 2017 9:26am Feb 21, 2017 9:26am
and the highlighted region would be the only entry i would take today( if not for work that is unfortunately )

GBPJPY 6min
Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 35 KB


and probably i should try the higher timeframes for that reason alone, although I am not really sure they fit my personality. ( I like fast action and quick decision making)
  • #76,184
  • Feb 21, 2017 10:00am Feb 21, 2017 10:00am
GBPJPY 4H chart

WRB gap(created by the low of candle A and high of candle B,if you remove the candle marked as WRB) is filled now
Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 43 KB

and the daily is not convincing for anything in particular ( at least for me )
Attached Image (click to enlarge)
Click to Enlarge Name: Image2.png Size: 82 KB
  • #76,185
  • Edited 10:48am Feb 21, 2017 10:23am | Edited 10:48am
Quoting bistolis
{quote} I start with the daily chart and then to lower frames to determine direction. for example if the slope of the red line on the TDI on the 4H chart is sharp and there is a trend of 1-2 candles, then I look to buy/sell accordingly on lower timeframes. my usual TF is the 6min chart for entries, i keep the 36min and 3H chart to get a better picture of a trend developing whenever I dont make mistakes, it works fine since I have a good picture of support/resistance on the higher frames as well. My goal is always to pick trends on reversals or continuation...
Ooops do not have those times on MetaTrader
So M5 == 6min, M30 == 36min, what will 3H == H1 or H4?
You mention no cross anywhere, so from where do you get the angle and 1-2 on H4.

The cross is always my starting point on H1 / H4. Also starting to look at D1. (BigE got all his info from the chart he trade on.)
Have a cross then post#647, hop over to M1 and place the trade when TDI cross in the direction of H1 /H4
Stoch interfering with TDI cross I walk away, only to find out on candle 3 TDI is right
  • #76,186
  • Feb 21, 2017 11:19am Feb 21, 2017 11:19am
Quoting emmanuel7788
EURUSD ME/ME trade example {image}
I had the same entry as you, Emm, but with SE/SE. I am starting to like popgun patterns, especially when HTF provides confirmation. I exited prematurely, instead of letting it run further, towards my initial TP. Nonetheless, green is green, if you know what I mean.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDH1.png Size: 111 KB
  • #76,187
  • Feb 21, 2017 1:19pm Feb 21, 2017 1:19pm
Quoting catalin_eros
{quote} I had the same entry as you, Emm, but with SE/SE. I am starting to like popgun patterns, especially when HTF provides confirmation. I exited prematurely, instead of letting it run further, towards my initial TP. Nonetheless, green is green, if you know what I mean. {image}
I will need to study more on those patterns. For the pas 7 days I have been through price action studies, books etc
  • #76,188
  • Edited 1:58pm Feb 21, 2017 1:45pm | Edited 1:58pm
Quoting Tekkies
{quote} Ooops do not have those times on MetaTrader So M5 == 6min, M30 == 36min, what will 3H == H1 or H4? You mention no cross anywhere, so from where do you get the angle and 1-2 on H4. The cross is always my starting point on H1 / H4. Also starting to look at D1. (BigE got all his info from the chart he trade on.) Have a cross then post#647, hop over to M1 and place the trade when TDI cross in the direction of H1 /H4 Stoch interfering with TDI cross I walk away, only to find out on candle 3 TDI is right
here is an example
Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 108 KB

angle of the red line for me is good to identify trend while it is developing

on the 1H it broke out of that consolidation (140.60-.70)
Attached Image (click to enlarge)
Click to Enlarge Name: Image2.png Size: 83 KB


and then i would try to jump in on the lower frame, and direction confirmed (TDI cross sometimes irrelevant)
marked here as consolidation is a previous S/R level and you can see the TDI going bonkers
Attached Image (click to enlarge)
Click to Enlarge Name: Image3.png Size: 139 KB


and now to price action, and those are targets that I would like for price to hit. I would be very happy with 142.00
I will try to jump in on small consolidation or retracements on the lower TF while the trend is strong on the 4H
Attached Image (click to enlarge)
Click to Enlarge Name: Image4.png Size: 105 KB
  • #76,189
  • Feb 21, 2017 3:30pm Feb 21, 2017 3:30pm
Hello, i have maybe stupid quiestion,but always when i set on my metatrader support and ressistance . and when i switch off and on my pc i always loose all my settings,how i can figured it out? Thx u alot
  • #76,190
  • Feb 21, 2017 4:14pm Feb 21, 2017 4:14pm
Quoting Dedekzlobi
Hello, i have maybe stupid quiestion,but always when i set on my metatrader support and ressistance . and when i switch off and on my pc i always loose all my settings,how i can figured it out? Thx u alot
there should be a setting to save the template on exit or something like that
  • #76,191
  • Feb 21, 2017 4:32pm Feb 21, 2017 4:32pm
Hello fellow traders

I've been trading 7 months exactly using a small real money account(from zero knowledge), losing half of it in the process, fighting my own emotions and frustrations and among all the information I got, this thread was very helpful to me, thats why I decided to retribute something back to all the newbies coming here for answers and being confused with all the mixed information they are getting.

My conclusions after 7 months of journey:

0. Do babypips first.
1. Stop looking for any EA or robot. They just dont work at all or lose money in the short/long run.
2. Stop filling your charts with indicators advice, they are laggy. They show you the past. You need to see w your naked eye whats going on. The simpler the better. Right now I only use 200EMA, my own line drawings on the charts and TDI by demand as confirmation in a separate chart.
3. Scalping? Intraday? Swing? You should look for a timeframe who suits your lifestyle. Mine is 1h/4h because I already work from home as software programmer. But even at 4h I look into 15m/30m looking for a better spot to entry, etc. Do you really want to stay all day long attached to a screen?
3. News and fundamentals. Avoid them but not take it out of your trading plan. For instance, Knowing USD is bullish right know adds value to your trading process.
4. Candlestick patters: Yes they work, but stick to the strongest ones: Hanging man engulfing etc. Train your eyes to recognize them easily, if you cannot find them in the big timeframes, look for them in the shorter ones. Very helpful to spot entries and exits
5. Chart Patterns(triangles, flags, pennants, etc) They are accurately 40/50% of the time. Use them to add value to your decisions but not use them without taking into consideration the big picture
6. Key Levels(support/resistence/Fib Levels): You can build a whole trading plan or system around them. They really work, and you need to focus on them, more than any indicators or patterns. Drawing yourself SupRes levels on your charts ADDS a lot to traing your inexperienced eye. Spend time doing this, its worth it.
7. Price Action: Train your eyes. Looking at charts every day, without indicators, learn how the market behave.
8. At the beginning I installed the TMS Monitor and I jumped at any sign of BUY or SELL. Now my thinking process is different. I picked up to 6 symbols and after analyze them every day I came up for a "trading plan" for them. Jumping into a pair without knowing the Big picture or what the fundamentals are is a mistake
9. Theres no secret or holy grial to become succesful at trading. As any other thing in life you must work hard, to develop the skills and the "trading system" that suits you specifically. Dont follow blindy other people advice. Solve the puzzle yourself. Every solution is unique
10. Money Management: Crucial. Be realistic, being a pro with forex u have the power to double up any sum after a year(not after 1 week or month). Pick a good MM strategy and follow it. You need a massive capital to do it pro.
11. And finally, about TMS and BigE advice. If you read him betwen lines you can find points 1 to 9 suggested several times. Actually I use TMS/5EMA system as a confirmation method. As something to adds up information to my thinking process and gives me more odds to succeed. Not my main trading system. Youll find a lot of crosses but entering the market blindly is recipe for disaster.

Still in the journey, a lot to learn. Just wanted to share with you my findings so far.

Cheers

F.
Fenix Capital Mgmt Return This Month: na
  • #76,192
  • Feb 21, 2017 5:07pm Feb 21, 2017 5:07pm
Quoting bistolis
GBPJPY 4H chart WRB gap(created by the low of candle A and high of candle B,if you remove the candle marked as WRB) is filled now {image} and the daily is not convincing for anything in particular ( at least for me ) {image}
Breakout to the upside..buy GBP maybe
  • #76,193
  • Feb 21, 2017 5:43pm Feb 21, 2017 5:43pm
EURGBP Feb 22 sell on D1 chart.

Anyone see the PA + TDI ?
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #76,194
  • Feb 21, 2017 5:56pm Feb 21, 2017 5:56pm
Quoting Emerald2112
{quote} Breakout to the upside..buy GBP maybe

yes. Good one.

Look at D1 chart to see short term resistance above for target.

Further up is, next target is 200EMA above on D1.

Train your eyes to see the price bars or the candlesticks, you can trade in any markets without depending on too many indicators.

Trade the Day chart, trade it one bar at a time, or simply one day at a time or once a day only.
The rest is money management and how you manage your trading psychology.


Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPY Price Action D1 chart.png Size: 59 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #76,195
  • Feb 21, 2017 5:59pm Feb 21, 2017 5:59pm
Quoting elDIABLO21
Hello fellow traders I've been trading 7 months exactly using a small real money account(from zero knowledge), losing half of it in the process, fighting my own emotions and frustrations and among all the information I got, this thread was very helpful to me, thats why I decided to retribute something back to all the newbies coming here for answers and being confused with all the mixed information they are getting. My conclusions after 7 months of journey: 0. Do babypips first. 1. Stop looking for any EA or robot. They just dont work at all or lose...

Good post by elDIABLO21.

Thank you for sharing with us your trading journey.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #76,196
  • Feb 21, 2017 6:04pm Feb 21, 2017 6:04pm
Quoting emmanuel7788
EURGBP Feb 22 sell on D1 chart. Anyone see the PA + TDI ?
Hi Emmanuel,

Yes, we had a nice 5 Candle confirmed swing high and yesterday Candle managed to break the most recent support, but we have some next support very close like MN line of 0.8423 and also 200EMA at around 0.8410. Yesterday candle was a WRB. Consolidation possible?

Okoso
Attached Image (click to enlarge)
Click to Enlarge Name: EURGBPDaily22.02.17.png Size: 42 KB
  • #76,197
  • Feb 21, 2017 6:16pm Feb 21, 2017 6:16pm
EURJPY Feb 22 Day chart trading,


Attached Image (click to enlarge)
Click to Enlarge Name: EURJPY Feb 22 PA chart.png Size: 55 KB



Tip: Learn to look at Day chart using your Line Chart instead of bar or Candlestick Chart, see why we can sell when price breaks yesterday's close price.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #76,198
  • Feb 21, 2017 6:23pm Feb 21, 2017 6:23pm
Quoting okoso
{quote} Hi Emmanuel, Yes, we had a nice 5 Candle confirmed swing high and yesterday Candle managed to break the most recent support, but we have some next support very close like MN line of 0.8423 and also 200EMA at around 0.8410. Yesterday candle was a WRB. Consolidation possible? Okoso {image}

Yes, your are correct to see that yesterdays Day candle is a big candle in fact a WRB. Where do we place our initial Stop Loss with one Single Entry trade?

But the danger is in H4, you will see several H4 WRB above current price action.

see chart below, WRB 1 and WRB 2.
Today' correction / retracement can hit WRB 1.

Attached Image (click to enlarge)
Click to Enlarge Name: EURGBP Feb 22 H4 WRB retracement.png Size: 46 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #76,199
  • Feb 21, 2017 6:55pm Feb 21, 2017 6:55pm
Hi Emmanuel,
Trading in silence these days..but yes, have been onto EG for a while now..


Attached Image (click to enlarge)
Click to Enlarge Name: EURGBPDaily.png Size: 45 KB




Quoting emmanuel7788
EURGBP Feb 22 sell on D1 chart. Anyone see the PA + TDI ?
  • #76,200
  • Feb 21, 2017 7:02pm Feb 21, 2017 7:02pm
Quoting okoso
{quote} Hi Emmanuel, Yes, we had a nice 5 Candle confirmed swing high and yesterday Candle managed to break the most recent support, but we have some next support very close like MN line of 0.8423 and also 200EMA at around 0.8410. Yesterday candle was a WRB. Consolidation possible? Okoso {image}

forgot to mention, you can also target BRN 08400
price do not stop exactly on any moving average lines.
remember support and resistance is not one line price level, it is a price zone, sometimes the s/r zone can be quite large hence being technical traders, we look at the bars/candles for the price action.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
62 traders viewing now, 1 is registered:
shertiger