So this was my deepest desire and bitterest lesson but once I worked it out the simplest tame ever. So Xbox version. Find your pony. Creep up, stay low have your carrots in the last slot on hot bar. Give carrot when prompted, jump on when prompted. Now he will go nuts bucking but keep your eyes on the bottom right screen. Soon as you see the yellow prompt press Y give him carrot. Higher the lvl the more shinnanagans - but truly... Just keep your eye on the flash of yellow. No need for trapping. Once you've got one the world is your oyster.
This stinking thing!!! So annoying!!! I was taming it on a cliff and I was a bit slow and it knocked me off. RIGHT INTO A SWAMP. I swear, while everything was eating me, sarcophagus, titanoboa and mega parana, I saw it laughing at me.
They are mostly found ( in my experience ) Where Carnivores are ( Raptors, Carnos, terror birds etc. ) So you really have to make sure the area is safe enough so you can hop on the equus and feed it. I hope this helps!