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Trading Made Simple

  • #27,741
  • Nov 23, 2013 2:42am Nov 23, 2013 2:42am
Hi. can someone make a list of all abbreviations along with what they stand for? e.g., PRCP, LO candle ect. some are explained somewhere inside the thread, but some i couldnt find. If you do make the list, ill attach them as pdf file with appropriate title/name. thank you.
  • #27,742
  • Nov 23, 2013 3:57am Nov 23, 2013 3:57am
Quoting kwonkicker
Hi. can someone make a list of all abbreviations along with what they stand for? e.g., PRCP, LO candle ect. some are explained somewhere inside the thread, but some i couldnt find. If you do make the list, ill attach them as pdf file with appropriate title/name. thank you.
PRCP = pullback reversal candle pattern
LO = London Open
FO = Frankfurt Open
Trade Safe !
  • #27,743
  • Nov 23, 2013 6:18am Nov 23, 2013 6:18am
Quoting Phx62
{quote} fxFox, I am not sure w........... nsider a long trade.
Phx62,

thank you for your explanations and time - helps a lot.

As I said before, it is just as interesting to understand the situations, why you did not enter a (bad) trade. So I'v got two other questions to understand your point of view and analysis:

1) May you have a look at the LO candle from Tuesday (19).
Situation before as I would have interpreted to that time: H1-trend in the assian session continued to the downside, then in the middle of the session a retracement started with 5 blue candles (about 50% of the downmove).
LO opening (the doji like APB) started. At this opening time
- price continued the move to the upside
- we had upwards pointing red and green TDI lines
At this time and minutes after that everything looks even fine to the upside. Than price turned and formed the doji on the last 2/3 of the hour. (Afterwards you entered short)

=> From your explanations I would have expected that you enter here with a long on a break of the prev. (blue) candles high. But you didn't do that, so there is something wrong in my viewing. What prevented you?

2) And that leads to my 2nd question. With this kind of bars I have my problems.
What do you normally do in the case you entered a trade on H1 by your indication but than price turns against you after a couple of minutes even on the candle you've entered and the candle possibly changes it's colour.

=> Do you stay in, supposing that could have been a the normal smaller tf choppyness and you close that on the candle close (if the colour or TDI confirmed the turn - supposing your stop is not affected) or would you close it immediately because of you think the upmove will not get enough momentum, at it should have to start a good trade.?

Thanks
fxfox
fxFox (all times in my charts are GMT+1)
  • #27,744
  • Nov 23, 2013 6:38am Nov 23, 2013 6:38am
Quoting emmanuel7788
The reality is that many people wanting to trade spot forex to make money will not make it. Fact is more people will lose their hard-earned money trying to make some from this harsh market. Statistics show that more than 90% of traders lose their money. Have you asked yourself why? Something everyone need to sit back and ask yourself. Trading requires both knowledge and skills. This Trading Made Simple is indeed a simple trading method so why aren't you making the money you want. What are you missing? I read those who post here and I see some members...
Hi emanuel,

that is all correct and as I can say up to now, TMS seems for me a very good method. Thanks to eelfranz (may he look down to us an hear it) and all other contributors.

But I do not think it is an easy thing applying this (or any other) method to the market. And that gives a little illusory view for all newbees.
Without learning a lot about the market and a propper analysis (like you and many others share here) even this method will not work on the long run (you can read your own posts here...). If so it could have been a stupid EA, but thats not the case.

So thanks for all the advices and material you share here to get better in these skills.

fxfox
So I am happy to get all this help from you and the others here to move to the 10%.
fxFox (all times in my charts are GMT+1)
  • #27,745
  • Nov 23, 2013 8:01am Nov 23, 2013 8:01am
Quoting emmanuel7788
{quote} Triple Screen technique has been shared here before. Just search "Triple Screen" and you will see the posts in this thread. Not a holy grail, but using a multiple timeframe approach will get you into high probability trade setups and better winning trades. This favourite pic of mine below. There is a trend in every timeframe, so we must know which trend we want to trade especially when we trade intraday, it can be fast changing and choppy. {image} To learn about how to adopt Triple Screen technique, read this book by Dr Alexander Elder....
Thanks Emmanuel, i will have a look at that book. I have been reading "RSI-the complete guide" that you recommended before as well. Thank you for your help!
  • #27,746
  • Nov 23, 2013 9:03am Nov 23, 2013 9:03am
Quoting lastingwell
{quote} If you change to bar chart instead of the line chart you have it set at now, it should look the same as their's. I also have "chart on foreground" unticked in chart properties.
Many thanks for that advice lastingwell. sorry for delayed reply, have been away for a couple of days.
  • #27,747
  • Nov 23, 2013 10:57am Nov 23, 2013 10:57am
Heya traders, nothing related here, just thought I'd share as I had a good laugh at some of these... Hope I'm excused, it being saturday today and all...

http://www.businessinsider.com/29-du...le-say-2013-11
  • #27,748
  • Nov 23, 2013 12:05pm Nov 23, 2013 12:05pm
Quoting Goodgame42
{quote} PRCP = pullback reversal candle pattern LO = London Open FO = Frankfurt Open

thanks a lot man. hope thats all there is, but i have a feeling that it isnt.
  • #27,749
  • Nov 23, 2013 2:53pm Nov 23, 2013 2:53pm
Quoting Phx62
{quote} Hey tenmile, Good to hear from you. The gold lines are last months high and low and the purple lines are last weeks high and low....nothing more than reference lines and possible resistance areas. As far as staying in the short trade, I had gone to work before the NY session opened and got busy with meetings and business. I did not get back to the trade until the second red candle (following NYO). I had set my TP to 150 and SL to +20, so I just let the trade play out, moving my SL down as the trade progressed and I could check it, since...
Thanks a lot Phx
  • #27,750
  • Edited Nov 24, 2013 10:12am Nov 23, 2013 4:24pm | Edited Nov 24, 2013 10:12am
Quoting fxFox.mb
{quote} Phx62, thank you for your explanations and time - helps a lot. As I said before, it is just as interesting to understand the situations, why you did not enter a (bad) trade. So I'v got two other questions to understand your point of view and analysis: 1) May you have a look at the LO candle from Tuesday (19). Situation before as I would have interpreted to that time: H1-trend in the assian session continued to the downside, then in the middle of the session a retracement started with 5 blue candles (about 50% of the downmove). LO opening...
fxFox,
Someone put together 3 pdf files of my posts and charts. Most of the answers to your questions can be found in those pdf's. You can find and download them here: http://www.forexfactory.com/showthre...93#post7005093 . No two trader will trade the market the same way because every trader sees and reacts to the market differently but if there is something in those pdf's that will help you, you are welcome to the information.
To answer your questions....most of the time the high or low of the London session will be set in the first couple of hours of that session and then the market will usually move 3 to 8 candles in one direction. Knowing this, I usually only enter on the LO candle when a trend looks like it will continue....otherwise, I wait for the high or low to be set. In this case, the low of the session was set by the third candle of the session.
As you described, at LO on Tuesday I saw the trend (from the London close on Monday) was short.....so I was looking for a short trade if that trend continued. The LO candle first moved up but did not break the high of the recent trend, then price moved down and the LO candle closed red and the TDI green crossed down over the red. I entered short, expecting the original trend to continue. It did not....price moved back up and I closed the trade at BE.
To answer the 2nd question, you need to spend some time studying the rules of TMS, as outlined by Big E, the thread starter. When you enter trades according to the rules he outlined, most of the time there is very little drawdown. Example: After the EA closed the BE trade, I then entered long according to the rules of TMS...after the open of the second blue candle and after that candle broke the high of the setup candle (my rule). There was also a cross of the TDI confirming the change of direction. The green crossed over the red, the yellow and the 50 line, indicating to me that price would begin trending in that direction. The market did move up over 80 pips.
If you read the first pages of this thread, it will help you understand the TMS method and you can find the Big E pdf here: http://www.forexfactory.com/showthre...39#post6706039 .
Hope this helps......
  • #27,751
  • Nov 24, 2013 6:34am Nov 24, 2013 6:34am
Here are my templates as part of BPP for the week, showing round numbers in pink and other significant historical S/R levels in gold.

I hope they can be of some assistance to newer traders.

Any advice is much appreciated!

regards

irishtoffy
Attached File(s)
File Type: tpl audyen.tpl   8 KB | 403 downloads
File Type: tpl euryen.tpl   8 KB | 401 downloads
File Type: tpl gbpyen.tpl   8 KB | 389 downloads
File Type: tpl usdyen.tpl   9 KB | 424 downloads
  • #27,752
  • Nov 24, 2013 12:16pm Nov 24, 2013 12:16pm
Quoting Phx62
{quote} fxFox, Someone put together 3 pdf .....
phx62 and Imi, hupiko,

great work. Thanks a lot for this summary. I was filtering the phx62-posts one by one starting in April from your profile-summary. This is a much more comfortable way to get familiar with your market view.

phx62 - thank you for being so responsive. The rules form TMS by BigE are clear for me (I think :-), as I follow and read selections of the thread history for some weeks now. But as I understand these were originally considered for H4. You work on H1 and as I see you deviate in your entries and target estimation in some way from these rules. So my question was how you manage a position, which will not develop in estimated time into the right direction and especially when it moves first against you. (I.e. how long/many pips you give the position going against you, before you stop it manually, or first on candle close as thought about in standard H4-TMS)
But I will not make more work for you and read the pdfs first - a lot of material to study and perhaps these questions had been answered before.

fxfox and good trading next week
fxFox (all times in my charts are GMT+1)
  • #27,753
  • Nov 24, 2013 12:41pm Nov 24, 2013 12:41pm
Is Sunday opening of forex market with gaps not suitable to trade with this system?
  • #27,754
  • Nov 24, 2013 2:50pm Nov 24, 2013 2:50pm
Hi all guys,

I have "recently" decided that this will be my new trading system. I am currently reading the thread and the PASR doccuments

Just one quetion, few days ago I think I red a post of emmanuel saying goodbye, but I did not catch why... Could someone explain to me please? I have learned a lot in this thread from his messages... (edit: now I realize that he just posted in the previous page, I have a mess in my head hehehe)

Thanks a lot, hope to have great time with all you guys trading this system And special thanks to those from I am learning a lot of trading like Big E, Emmanuel, etc. (too many to name them all!)
  • #27,755
  • Nov 24, 2013 7:10pm Nov 24, 2013 7:10pm
I was looking at Phx62 study and I realised that there were no MBL involved.
I was wondering, for a buy entry on the H1 chart, do I have to make sure it's above the 50 horizontal line and MBL?
Or would a crossover from the bottom suffice? Provided that I pay attention to support/resistance, divergence etc.
  • #27,756
  • Nov 24, 2013 10:49pm Nov 24, 2013 10:49pm
Quoting Neon
I was looking at Phx62 study and I realised that there were no MBL involved. I was wondering, for a buy entry on the H1 chart, do I have to make sure it's above the 50 horizontal line and MBL? Or would a crossover from the bottom suffice? Provided that I pay attention to support/resistance, divergence etc.
It's subjective really, i have noticed that when the green and red line cross over the MBL, there is a decent move in that direction, but that doesn't always happen and the market may have been heading that way for some time already. The MBL gives you an idea of where the market is currently trending, but its up to you whether you want to use it or not. You do not have to wait for the cross to occur above the MBL or the 50. i only use the 50 line as an indication of a indecisive market so basically if the MBL and the red/green line is hovering around the 50 line, i do not enter a trade in this area. Since the TDI is a RSI indicator, you can apply the 80-40/60-20 rule which can be found in the .pdf "RSI-The Complete Guide by John Hayden" that is in the attachments section of this thread. A crossover on the bottom can be good enough if the H1 PA, APB color change, and TDI angle are in agreement and agree with the 4H trend direction. I'm still learning so please if anyone can add to this please do! Hope this helped some.
  • #27,757
  • Nov 25, 2013 2:37am Nov 25, 2013 2:37am
Quoting Neon
I was looking at Phx62 study and I realised that there were no MBL involved. I was wondering, for a buy entry on the H1 chart, do I have to make sure it's above the 50 horizontal line and MBL? Or would a crossover from the bottom suffice? Provided that I pay attention to support/resistance, divergence etc.
You don't have to wait for that, so long as PA tells you price is going higher and TDI crosses green over red, you're good to go. MBL is useful during a prolonged move, you may have noticed PHX looks for divergence between an ascending trend and a flattening/descending MBL (or vice versa).
  • #27,758
  • Nov 25, 2013 4:03am Nov 25, 2013 4:03am
i try this :
Attached Image (click to enlarge)
Click to Enlarge Name: eurGbp25_11_2013.png Size: 175 KB
  • #27,759
  • Edited 9:51am Nov 25, 2013 9:35am | Edited 9:51am
Quoting Neon
I was looking at Phx62 study and I realised that there were no MBL involved. I was wondering, for a buy entry on the H1 chart, do I have to make sure it's above the 50 horizontal line and MBL?.
That is more important for the Synergy system, from which TMS derives, not for the TMS itself. The core TMS relies principally on the cross.

I for example find the MBL indispensable to my trading, because in addition to it's main purpose (show the general trend, or lack there of), I see it as a significant S/R and maybe for ideas for hard TP. Well logically, you'll see this on the usual chart first, but just wanted to point out. Take a look at the TDI in the past. See how many times the PL bounces off the MBL or flirts with it. Sometimes it cuts through only to come back shortly after. On the other hand when the green/red cross occurs near the MBL, where the MBL gets crossed as well, there's a strong movement. Especially if confirmed by higher TF (H1,H4,D), then you get a profitable trend (example last week's J/A/NZ).

Just an idea.

Edit - On last week's big "Asian" pair trades you may not find proper on all higher TFs, but you'll find bounces. That's almost the same. Just wanted to clarify to avoid any potential confusion
  • #27,760
  • Nov 25, 2013 9:57am Nov 25, 2013 9:57am
Quoting Lane
{quote} That is more important for the Synergy system, from which TMS derives, not for the TMS itself. The core TMS relies principally on the cross. I for example find the MBL indispensable to my trading, because in addition to it's main purpose (show the general trend, or lack there of), I see it as a significant S/R and maybe for ideas for hard TP. Well logically, you'll see this on the usual chart first, but just wanted to point out. Take a look at the TDI in the past. See how many times the PL bounces off the MBL or flirts with it. Sometimes...
I have studied the Synergy system and Synergy Advanced and Pro. The basic strategy seems identical, but the Synergy Pro/Advanced has more indicators for confirmation. Do you mean the core strategy differs between Synergy and TMS?
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