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Trading Made Simple

  • #88,581
  • Jul 20, 2018 10:45am Jul 20, 2018 10:45am
Quoting lddd
{quote} Thanks for the explanation, really helpful. Yes i heard about Guppy MAs but never dealt with it in detail. I would like to switch to the H4 and Daily for some time to see if my performance might getting better. Can you tell me from your experience A) How many valid signals according to the rules here are likely in one trading week for how many charts opened? B) How many of these signals are realistic to catch (start watching charts from EU opening / regular working time, morning to afternoon for me) I still find it very difficult doing the...
Quoting lddd
I just entered long on GJ here. I guess something i should not have taken? Its M30 btw. Thanks for your comments on this one in advance. Update: Stepped out with a -10 Pips. :/ {image}
Quoting lddd
{quote} Thanks for your kind words. Sounds straight forward.
Not only does it "sounds straight forward".
It is a classical example of what I mean when I said below:

Too much time is being spent on TDI and Stochastics,
Too little time on Price Action and Support/Resistance.
And no time spend on Money Management, Risk Management for entries and exits, When and How to Let Profits Run.
You need to find your WINNING EDGE and the TDI is not in the winning edge equation.

You did not look at the Price Action which often show you the Market Type conditions and where the support and resistance for today's day trading.

You did not consider the Risk Management and simply traded fixed lot 0.1 lot when this GBPJPY is a very volatile pair.
You also did not consider proper Money Management when you trade this volatile pair. Using a proven Money Management will make a difference which is important for you to develop your winning edge in trading. Your winning edge must also have mental strategy to complement your trading style.

You did not see the Market Type condition and rely too much on the TDI which gave crappy signals in that Market Type condition.

You have a lot of other information on your chart which can be helpful, but did you look at all of the information and use them when you trade?

I notice that you have the AO with the Stochastics, that changes your rules for entry and exit. It reminds me of the OP Big E' trading in 2008 when he was a newbie.

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stay tuned for more when I get back to my computer tomorrow I'll show you and explain how to apply Post#647 using your trade as example.

Are you prepared for some constructive criticism?
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #88,582
  • Jul 20, 2018 10:55am Jul 20, 2018 10:55am
It's Friday and I close many of my positions when London session close today.

Check you calendar, there is G20 Meeting this weekend so if you are short term swing trader, don't take more risks than necessary holding position over this weekend.

I am not predicting any weekend price gap at this moment since we still have a few hours till NY session close, but with the ongoing trade war , anything can happen over this weekend.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #88,583
  • Jul 20, 2018 11:01am Jul 20, 2018 11:01am
Quoting lddd
I just entered long on GJ here. I guess something i should not have taken? Its M30 btw. Thanks for your comments on this one in advance. Update: Stepped out with a -10 Pips. :/ {image}

While you have the weekend time, take a look at my multi-charts below.

I don't trade M30 but I put that up and you can probably see market big picture this week.

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Click to Enlarge Name: GBPJPY Week 29 Jul 20 BPP M30.png Size: 72 KB


it's Friday and time to meet some friends here at a nice Irish pub nearby.

Have good one,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #88,584
  • Jul 20, 2018 11:55am Jul 20, 2018 11:55am
Quoting emmanuel7788
{quote} {quote} {quote} Not only does it "sounds straight forward". It is a classical example of what I mean when I said below: Too much time is being spent on TDI and Stochastics, Too little time on Price Action and Support/Resistance. And no time spend on Money Management, Risk Management for entries and exits, When and How to Let Profits Run. You need to find your WINNING EDGE and the TDI is not in the winning edge equation. You did not look at the Price Action which often show you the Market Type conditions and where the support and resistance...
That long post for what?
What is the first rule he should check for:
What is the angel of green:
ANGLE BETWEEN 3 / 4 DO NOT ENTER A TRADE
Second rule: Do not enter a trade on bar 3 and up.
That alone should have warned Idda not to place a trade, walk away and wait for a valid TDI crossover.
If the crossover failed the first rule why waste time with price action. The answer will still be the same: Do not place a trade

Looking forward how you use post#647.
  • #88,585
  • Jul 20, 2018 12:38pm Jul 20, 2018 12:38pm
Pretty harsh Joseph
  • #88,586
  • Jul 20, 2018 1:50pm Jul 20, 2018 1:50pm
Quoting emmanuel7788
{quote} While you have the weekend time, take a look at my multi-charts below. I don't trade M30 but I put that up and you can probably see market big picture this week. {image} it's Friday and time to meet some friends here at a nice Irish pub nearby. Have good one,
Emm,

That outside bar on white box, its same color, can we call it outside bar?
Or its must different color to be called as outside bar?
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  • #88,587
  • Edited 7:26pm Jul 20, 2018 7:06pm | Edited 7:26pm
Quoting Tekkies
{quote}That alone should have warned Idda not to place a trade, walk away and wait for a valid TDI crossover. If the crossover failed the first rule why waste time with price action. The answer will still be the same: Do not place a trade Looking forward how you use post#647.
Yes youīre absolute right. I actually know these basic rules but still end up with taking such trades due to pure activism or lack of education / the feeling i am to late to the party and now have to do something otherwise i never make any pips at all.

Generally i am not even sure what time frame fits best to me. I have time watching charts for e.g the complete EU session from mo-friday. But if there are so many TDI crosses and i only need to end up with something like 20-30 Pips in profit by the end of each week i really question my self what the hell i am doing wrong here?

There is no automation in this strategy at all or? I dont believe in bots or any trade copier i can simply setup on any VPS and leave it running for the next years. I tried a lot in the past and ended on the TDI and TMS :-)

However how to build any real PLAN out of this i can stick to each day like:

08:00) Drink a coffee
08:05) Watch charts and try to find some TDI crosses first? Which charts to focus? How many currency pairs i need to watch to reach my target of 20-30 pips + / day?

Next 4-5 hours nothing, waiting, waiting. Drinking more coffee going back to the charts. Still nothing... Ok ending up taking some trades like the GJ one

You know... I guess no wonder why this happens to me. I really have no idea how to bring up all these important things together without wasting time watching charts + still doing the correct "valid" trades needed to become profitable some day.

I would love to treat it more like a business and not like going to Vegas each new day...

Maybe there is something i can do to improve my trading envrionment like the following?

- Only showing me 3 TDI crosses at all on every M30 chart instead of so many if 90% are false/weak signals at all...
- Not showing me any TDI crosses at all if the market condition is wrong at all...
- Sending me Alerts on the IMPORTANT TDI crosses only so i donīt have to watch 8 hours in front of my charts from a day trading perspective and try to figure the crap out (no wonder why mistakes are happen)
- Adapting some MM/Risk Rules to each trade opened on auto pilot so i donīt have to think about this every time.
  • #88,588
  • Edited Jul 21, 2018 12:16pm Jul 20, 2018 9:35pm | Edited Jul 21, 2018 12:16pm
Quoting lddd
{quote} Yes youīre absolute right. I actually know these basic rules but still end up with taking such trades due to pure activism or lack of education / the feeling i am to late to the party and now have to do something otherwise i never make any pips at all. Generally i am not even sure what time frame fits best to me. I have time watching charts for e.g the complete EU session from mo-friday. But if there are so many TDI crosses and i only need to end up with something like 20-30 Pips in profit by the end of each week i really question my self...
Hi lddd,
Attached File(s)
File Type: pdf RSI-The Complete Guide-John Hayden.pdf   6.7 MB | 772 downloads

Attached File(s)
File Type: pdf Trend_Determination.pdf   560 KB | 625 downloads

Attached File(s)
File Type: pdf Candlestick Patterns in TMS.pdf   3.7 MB | 865 downloads
  • #88,589
  • Jul 21, 2018 12:06am Jul 21, 2018 12:06am
Quoting forex4rich
{quote} I did a quick search in FF and found it. enjoy.. fyi change the settings to match Eelfranz Cosmo (545)... 13,0,34,2,0,7,0,true,blank, alert0-Buy G>R,Alert 1 - Sell G<R (TDI Settings) Rich {file}
Tekkies,

I was wondering if you do use this for your alerts on Tdi crossovers?
  • #88,590
  • Jul 21, 2018 1:02am Jul 21, 2018 1:02am
Original concept of divergence by Welles Wilder (creator of RSI). 1978.

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  • #88,591
  • Edited 4:04am Jul 21, 2018 1:59am | Edited 4:04am
Quoting lddd
{quote}going to Vegas each new day....
Know that feeling to well.
Reading your post was like "Hey, that is me he is posting about"
-------------
Iddd you are dealing with old enemy's in yourself: fear, greed, boredom, impairment with a small touch of stupided fueled by a healthy dose of reckless.
DJ gave some book's to read, you most probably going to get van Tharp shove down your throat and you have most probably read every book on the market.

Until you deal with yourself no plan, no book, no advice, no post#647 is going to help you. It is a burden every trader face on a daily basis. Mine is pride. I got to be right therefore I have a problem to close a losing trade.
-------------
That said, now let's try something practical with the assumption you know already know how to read / find on a chart all the points mentioned in post#647. Start only with one pair, later when you know yourself better add a second pair, don't worry about all the "lost pips", make sure those that you have you keep, you will find more pips as you go from trade to trade.
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1. Find a TDI indicator with a alert function load it on the M15 chart, activate the alarm. Open a H1 chart, load the indicator's you want to use on both chart's. Go to Las Vegas, drink some coffee or mow the lawn or tie a knot in the cat's tail. Alarm calls you to the computer, now only trading starts.
------------
Worry you will miss opportunities to trade? Miss one, Ok that is fine and so what? Miss that one also, so what. Wait for the next one.
- TDI M15 alarm can call you to the computer 96 time in 24 hour's (24*60=1440/15=96) which can lead to 96 possible trade's.
- TDI M30 for H1 48 possible trades. (H1 alarm for H4, D1)
- "20-30 pips + / day?" How about 1 pip per alarm = 96 pips. Can you see how easy it is to get 20/30 pips or more.
However that will not happen for various reasons. (So go and count every crossover over a period of 24 hour's to put your mind at ease)
----------
When you have time practise post#647 on both chart's. Move both chart's back in time, aline both time frames to time and date.
edit: Would aid you if you place a vertical line on the H1 crossover. Copy the time value of the line over to M15 vertical line that way you know both chart's are at the same place.
Use the F12 key to scroll the chart to the right. M15 * 4 (F12) = H1 * 1(F12)
Every time you see a H1 crossover you practice post#647 on both chart's.
- Remember that M15 crossover can be 15 to 45 min before the H1 crossover.
edit: play with the F12 key to match M15 to H1 crossover. (Use anytime frame. The reason why alarm is on a lower time frame is so that you can analyze the chart the trade is going to be placed. ea: Enter the trade the moment green cross red.)
---------
Not sure if I have the right bar for entry you used. Now looking at this chart why did you enter a buy?
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Get rid of all those indicator's
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Marked only a few point's from post#647
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  • #88,592
  • Edited 12:15pm Jul 21, 2018 2:05am | Edited 12:15pm
Quoting DJsignals
{quote} Hi lddd, Let me give my newbie opinion. All you need is: 1. Read this book: RSI-The Complete Guide-John Hayden 2. Read this summary book: Trend_Determination 3. Read this ebook: Candlestick Patterns in TMS 4. Applied that RSI basic to TMS. 5. Trade timeframe...
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  • #88,593
  • Jul 21, 2018 7:00am Jul 21, 2018 7:00am
A good video to watch posted back in June 2013 linked below:

Hi ALL,

I ignore all the commercials and advertising when I watch online webinars.
That Mark Douglas video is s good one I felt as he spoke on trading patterns and having beliefs in the patterns we trade.
TMS is about trading setup which are our patterns. Not every TMS setup will end up with same results. Different traders trading the saem TMS setups will also have different results. Trade results depends on many factors - one is entry/entries and exits, money management, risk management, trade management, etc....
But all these requires the traders to have a consistent discipline when they trade. Without discipline in trading, all the technical knowledge about technical charting, setups, etc. will be in vain .

I hope that 6 part vidoes help some of you.
But for those who like to video the entire 53 minutes video, here it the link.
I recommend you watch it and write down your own thoughts based on what Mark Douglas said and relate them to your own trading TMS. There are valuable lessons and even more when you read his 2 books.
https://www.forexfactory.com/showthr...00#post6773200


Inserted Video


Inserted Video
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #88,594
  • Jul 21, 2018 7:09am Jul 21, 2018 7:09am
Quoting lddd
{quote} ... Where would you start looking at a chart each new morning. (Let's assume that you would also trade the eu session, not sure). For me it still feels more like gambling. Especially on the M15/M30 where lots of TDI Signals are forming every day. For me a "system" is something i can trust with repetion like a clockwork. ...

there are even more crappy TDI signals on M5 and I know how to use them when I trade MEME.

I don't need to monitor my charts. My MEME trade manager do the tasks for me while I enjoy my time doing other things in life.

I trade mostly 4H and D1 charts swing trading and I only have to spend my time during the weekend and plan my trades. Takes me 10 mins per currency pair. On weekdays, I only look at my charts when I feel like it.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #88,595
  • Jul 21, 2018 7:19am Jul 21, 2018 7:19am
Quoting DJsignals
{quote} Emm, That outside bar on white box, its same color, can we call it outside bar? Or its must different color to be called as outside bar? {image}

colour not important.

what is important is the Open High Low and Close OHLC ... Bar Chart

last week D1 close with DBHLC, so I know what many traders would do on Monday, and some the many traders do not know the risks of this DBHLC.

it is the Market Type which I pick to trade not the timeframe.

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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #88,596
  • Jul 21, 2018 7:20am Jul 21, 2018 7:20am
Quoting DJsignals
{quote} Emm, That outside bar on white box, its same color, can we call it outside bar? Or its must different color to be called as outside bar? {image}

more resources posted here which you can do search and look-up.

but be warn, you can suffer from information overload and you should know when to stop, take a break, then slowly digest the knowledge.

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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #88,597
  • Jul 21, 2018 7:25am Jul 21, 2018 7:25am
Quoting DJsignals
{quote} Hi lddd, Let me give my newbie opinion. All you need is: 1. Read this book: RSI-The Complete Guide-John Hayden 2. Read this summary book: Trend_Determination 3. Read this ebook: Candlestick Patterns in TMS 4. Applied that RSI basic to TMS. 5. Trade timeframe...
Thanks for your help. I will go through this again and practice.

But more like this i would also love to find some technical tools for my trading environment (MT4) to make things easier. I already changed my template with the one can be found on Post 1 here. TDI and Stochastics Histogram, DOL Lines. Thats it.

However this does not solve the problem with having to look at so many TDI Crosses. No Alerts for possible Entries/Exists. Maybe some Filters to sort out signals where price action isnīt valid to the rules. So i donīt even have to worry about it coming to a chart when i got some TDI Signal popped up. Thats what i understand of having some kind of "system". If i have to do this all manually its okay too. But then i would not call this strategy trading made simple. More like "watching a green crossing a red made simple". For me this has nothing to do with simple. Its still too complicated like this.
  • #88,598
  • Jul 21, 2018 7:25am Jul 21, 2018 7:25am
Quoting lddd
I just entered long on GJ here. I guess something i should not have taken? Its M30 btw. Thanks for your comments on this one in advance. Update: Stepped out with a -10 Pips. :/ {image}

@lddd,

Please, can you do the following and post, then I will follow up with my lessons for all to learn.

Attached Image (click to enlarge)
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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #88,599
  • Jul 21, 2018 7:30am Jul 21, 2018 7:30am
On Las Vegas, this is what Big E has to say:

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How many of you treat your $10k the same way he did?
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #88,600
  • Jul 21, 2018 7:33am Jul 21, 2018 7:33am
Like Big E, I am also retired but I trade not just for fun. It is more than just fun to me. It is CashFlow and to grow wealth for my next generations.
Attached Image (click to enlarge)
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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
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