Hi TMS folks,
It is Thursday night where I am now in WA. Just checking in to read this week's posts and catch up up with you all.
I read some new members posting for the first time and asking some questions about TMS.
This thread has become very large and can be overwhelming to read all the posts to learn TMS 5-Method.
My suggestion for new members to go start by reading eelfranz' posts in the Craig Harris Stochastic Method thread here:
Read all the 861 posts by eelfranz and you will learn the 5-Method and then come back to this Trading Made Simple thread and read eelfranz' 461 posts.
You will learn a lot how eelfranz traded the 5-Method in different timeframes. When you have learn the 5-Method basics and done enough live practice using a demo account, you will find how simple the method is and after you have mastered this very simple techincal trading method, you can then formulate your own rules for entries and exits, then add on your own money management strategy which will help you achieve your own financial target.
Consistency is an important key to become successful trader over long term. You need to work on consistency in all areas of your trading to make your system into a winning system over long term. It will take time and you need time to develop and test your system and make that into a winnign system.
Remember, TMS 5-Method is just a technical trading method, it is not a winning system untlil you have mastered it and further develop it to be your winning system.
I use this 5-Method as the core method my own 3 winning systems to trade intraday H1, short swing 4H swing trading and D1/W1 position trading. Many experienced traders here added on some things to make it into their own winnig system. Snarlyjack being one very good example, he has developed it with Guppy' MMAs to be his winning system. You can too use this 5-Method as the core trading method and develop it into your own wininng system to generate a supplement income for youself and your family.
It is a good start here using TMS 5-Method and please don't jump from thread to thread in FF and trying other methods or systems. Just stick to one core method and develop from there.
I am still on vacation until end December and I only trade looking at Weekly and Daily charts, and checking my charts once a day when I get an internet connection at my stopovers.
I got several PMs requesting topics on TMS Trading Mastery and I will resume writing weekly post in 2015 on those topics some of you requested. Be pattient and I will be happy to share with you what I learned and how I trade with TMS in different timeframes.
Meantime you shoud continue with forward testing in live market your entry and exit strategy and your money strategy with demo account. It is approaching year end end and the market condition is not 'normal' but is its good to test your strategies as well as how you would be managing your trading psychology.
Take Care and Good Trading.
Can I ask how long it took you learn you skills and what methods you used?
Thanks Emmanuel! I hope your having a great time!
Emmanuel said a couple of very important things:
1). Learn the basic Tms system first.
2). Don't switch into different systems or indicators. This will only delay your learning and
take you much longer to learn & trade profitable than sticking with Tms. Tms works and is a
great system. I have spent years checking it against other system's candle by candle.
This system is as good as it gets. Their is no "holy grail" out their! Stick it out & don't quit!
I was not sure how to deal with support facing (guppy on EA and 200MA on EU), got out with 40green from EA and 48 green from EU.
I have been using TMS for 6 mths but been trading Futures for a lot longer than 6 mths..
As you know. I've been trading a slightly modified version of your method, basically minus the PAC and guppies.
The results are quite amazing given the absolute simplicity of the system, and yes, whilst its not the holy grail as you say, if it continues to produce the results I've been getting, then it's gotta be darn close to it.
Hats off to you guys for adding it to my arsenal of tools...can't thank you guys enough
I've been supporting myself for about 8 years trading this system!
The longer you trade this way it becomes very natural & super effective.
The reason I use the guppy's is I don't scalp. My idea of a good
trade is 150-300 pips on the daily. I like to position myself into
the trend & let it run...
Keep doing what your doing. You will get even better in the future!
That is excellent!
One comment if you don't mind. Keep your charts very
clean & simple. You don't need the Williams %R, it will
only confuse you going forward...Other than that it is
perfect Good job!
This method looks like it will become the cornerstone of my trading style from now on too....the results and its simplicity are the big appeal to me, and you can be sure I'll continue doing what I'm doing to improve further.
As a typical example, UJ is still running favourably long for me via the method
Cheers SJ...you've been very helpful
I will not tamper with my trade, I will not tamper with my trade, I will not tamper with my trade.
Nice meeting you!
The DOTS system is the basic Tms with the guppy's added in.
(no big deal)
The long term guppy's are: ema/close, 30,35,40,45,50,55,60 (green).
The pac is: 5 smoothed hi, 5 smoothed low, (yellow).
With the Tdi & Lastingwell's sup/dem indicator which we use for s/r.
The sup/dem indicator is in the paperclip.
It's a great system that will give you the (levels, trend & tdi)
If you need any help, just ask
Still sitting in 4 trades for today. Eur/Jpy sitting around Entry, EU +47, UJ +54, GU -28. Have the EU and UJ now at b/e. Just about to get on the plane to Spain for a week, stop loss and TP in place. Got my Trading in the Zone book for the flight. Happy pips folks.
Just hit my tp targert for 52 green. Thanks for your support.
Nice meeting you!
I would be going long the usd/jpy & short the eur/usd.
The trends on the daily are very strong! What happened
yesterday (retrace into the guppy's) imho, the pro's
were messing with us... (just my opinion).
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