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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

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Trading Made Simple

  • #88,781
  • Jul 25, 2018 8:55pm Jul 25, 2018 8:55pm
Quoting emmanuel7788
{quote} USDCAD Week 28 Trade Plan for Weekly chart trading using Multiple Entries / Multiple Exit MEME. Money allocated $5,000. Maximum Risk is 50% i.e. $2,500 is where I will cut-losses. Note: I have booked profits from last months buy trades and this will explain my mental state when I trade this pair next week(s). {image} There are risks trading this pair next week. June 11 is BoC may raise it rates and this will have serious impact on price volatility. Also the Primary Trend on Weekly was Bullish and the recent 2 weeks maybe correction move...
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After 2 weeks, this starts to move below the Entry Price level.

With some profits from the last 2 weeks, I can now start to scale-in more positions.

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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #88,782
  • Jul 26, 2018 2:42am Jul 26, 2018 2:42am
Quoting emmanuel7788
{quote} Post#647 as our checklist every time we look at our charts for trade opportunity. {image}
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Golly, Emmanuel your post is terrifying to read and all those extra indicators does not help that much either.
No wonder you have to make trading so difficult and confusing.

You have posted many times that indicator's are lagging. So would it not be better to reduce the indicator's to a minimum?
Also why would you keep on using TDI indicator that keep on repeating for many hours. Get rid of it and use one that does not repaint.

Why make trading difficult and complicated when you know how to use the information TDI is showing on the chart.
Have posted many times that BigE has given enough information in his post's to use TDI effectively.
Sure post#647 is the edge of TMS but don't bland the edge by not using information contain in other post's by BigE.
---------------
That yellow circle? Some of BigE's post's:
#6...............The only exception is if green bounces off red and continues... it's ok to re-enter on the bounce...
#115........... A bounce trade is when green gets close to red but bounces away and the original trade continues are good entries generally.......
#557........... If it turns and continues (bounce) I'll just jump back in........
---------------
The way you use the short term trend there is no need for the 10EMA, 50EMA or 200EMA You should use BigE's post:
#686................... Trend... long term and short term...
I take a chart and make the candles as small as they will go to find the direction of the long term trend...
Then I enlarge them to my normal trading size for the current short term trend...
If they are the same I feel I have better odds on my side...
if they are opposite I may trade less lots per trade... I will pay more attention to the last swing (candle size & length)...
Very easy to do. You start on D1 and plot one or two trend lines (long and short term) in the direction of the trend, flip down from D1 to H1.
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As to HA or ABP candle's Why even use it when the only reason is that BigE found:
#49 .................... It's more calming to trade HA candles.
Beside that HA hide the price action. You yourself said price action is the only way to go.
Look at the circle. HA show red bar with green going flat / check mark. One keeps you in the trade longer and the second one is taking profit from the account.
Look at the black dot's: Doji is displayed as a bar.
Would say HA is giveing conflicting signals.
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How about only two indicator's on the chart. No confusement at all.
- TDI (non repainting)
- Stoch
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  • #88,783
  • Jul 26, 2018 2:44am Jul 26, 2018 2:44am
USDJPY Jul 26 H4

We have a H4 Double Inside Bar and this is potential for breakout to the low side. But is can also re-test resistance above too.
Price is not too far away form the Weekly WRB Low and that is the support where we can take some more profit ahead of tomorrow' Q GDP.
If the forecast is correct there maybe rebound but if the forecast is wrong and actual results disappoints, then UJ move lower. We shall see tomorrow.
Anything can happen therefore we trade with stop loss and use proper position sizing.

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Look at the multi-charts above,

there is 50EMA on D1, that will normally where we see some reaction.
also the W1 has the 10EMA below current PA, that also can be reaction level.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #88,784
  • Jul 26, 2018 2:45am Jul 26, 2018 2:45am
using this on my last 3 days trade.
RR 1:3 and got 70% win rate.
use it with ATR for better confirmation
forex is better than cryptocurrency, trust me.
  • #88,785
  • Jul 26, 2018 3:15am Jul 26, 2018 3:15am
Quoting emmanuel7788
GBPAUD {image} GBPCAD {image}
GBPCAD has been slow but now in the money.
Will see how it go in the following days and weeks and if I can further scale-in more positions should the price move lower.

I love those pipware multi-charts on my wide screen.
Just one big screen allows me to see all my favourite chart timeframes - HA candle charts, TDI in realtime mode and the actual,Japaneses candlestick for real price action trading.

And I love the Weekly MTF candle above over my H4 price action chart.

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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #88,786
  • Jul 26, 2018 3:44am Jul 26, 2018 3:44am
Quoting emmanuel7788
{quote} So you just want to make 100 pips / monthly? I don't think this is good way to start with that goal. How much $money do you want to make on average each month and say over the next 5 years? Go to that thread james16, read all the OP' post in 2005 and study all his charts from 2005 till 2012. These should help you learn what to look for when you start trading the D1 chart and using TMS 5-Method. From strat' PSAR old thread, I can confirm that using Triple Screen Trading System...
Dear Sir :
YES I want to make 100 pip / monthly (for each pear in my watching list (8-12 pear) ) thats mean (+ 800-1200 pip/month ) thats quite enough for me .

"How much $money do you want to make on average each month and say over the next 5 years?"
I dont care about MONEY right now rather than LEARNING . IF I can trade well after 1-2 year , that is my Biggest Goal , THEN I ll be Full Time Trader like you .

I want to Focus and Study 1 specific method at first , then i ll move to the second . Which one (PASR or J16 ) that you think are more easy to understanding for beginners ?

Hopping the beast for you my Dear .
Thank you
There is Light at the End of the Tunnel.
  • #88,787
  • Jul 26, 2018 6:15am Jul 26, 2018 6:15am
The topic sucks. Too much confusing here and people preaching all kind of things really has nothing to do at all anymore with what has been introduced by eelfranz first.

I am out. Good luck
  • #88,788
  • Jul 26, 2018 6:27am Jul 26, 2018 6:27am
Quoting lddd
The topic sucks. Too much confusing here and people preaching all kind of things really has nothing to do at all anymore with what has been introduced by eelfranz first. I am out. Good luck
Bye Bye Birdy for ever ???
  • #88,789
  • Jul 26, 2018 6:31am Jul 26, 2018 6:31am
Quoting eelfranz
So many new traders... Do not think you can trade with us without reading the thread and taking notes. READ & STUDY. ...Big E
Been here since 2012 therefore I am not surprised at all.

TMS Monitor still a very good tool that was developed for TMS.

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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #88,790
  • Jul 26, 2018 9:53am Jul 26, 2018 9:53am
Trading Tips:

The more time you spend staring at indicators, the less time you have to study your charts.
  • #88,791
  • Jul 26, 2018 10:56am Jul 26, 2018 10:56am
Quoting DJsignals
Trading Tips: The more time you spend staring at indicators, the less time you have to study your charts.
DJ.
Depend on how many indicators.
How much time will be used to find four check point's with only two indicators on the chart.
Angle of green, level of cross, direction of green and stoch.
Looking at some chart's posted by member's it will take about 10 min just to remove the indicator's from the chart.
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  • #88,792
  • Jul 26, 2018 11:11am Jul 26, 2018 11:11am
Quoting Tekkies
{quote} DJ. Depend on how many indicators. How much time will be used to find four check point's with only two indicators on the chart. Angle of green, level of cross, direction of green and stoch. Looking at some chart's posted by member's it will take about 10 min just to remove the indicator's from the chart. {image}
Yup, its good when trade TDI cross in same direction with main trend, but not always good decision.
When trade TDI cross against the trend, is bad decision, but not always bad decision.

Trading is probability game.

How you win this probability game?

For me, this is my tool, its called Risk Reward.
Risk Reward is crucial.
Risk reward is the most important aspect of trading.

See table below, even with 30% of winner, can produce money bigger than 70% of winner.
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  • #88,793
  • Jul 26, 2018 2:26pm Jul 26, 2018 2:26pm
Quoting DJsignals
{quote} Yup, its good when trade TDI cross in same direction with main trend, but not always good decision. When trade TDI cross against the trend, is bad decision, but not always bad decision. Trading is probability game. How you win this probability game? For me, this is my tool, its called Risk Reward. Risk Reward is crucial. Risk reward is the most important aspect of trading. See table below, even with 30% of winner, can produce money bigger than 70% of winner. {image}
DJ
Table is incomplete.
What about:
75% - 4 times - $1000 - 3 - 7 - ????????????
or
25% - 1 times - $1000 - 7 - 3 - ????????????
  • #88,794
  • Jul 26, 2018 4:31pm Jul 26, 2018 4:31pm
Hey TMS Folks,

New York session just closed. It was great day for dollar bulls.
I know the Month has not ended and we still have today and two more trading days - July 30 and 31 next week , then we see the July MN candle close. But it took me less than 10 minutes to scan all my 20 charts / pairs in my watch-list and I see interesting weeks ahead to trade in August.

Anyway, we are in the last trading day of this week and as usual, it my time to close some trades/basket and then enjoy my weekend.

By the way, there is lunar eclipse today in case anyone here watching this today.

Have a good trading day.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #88,795
  • Jul 26, 2018 4:36pm Jul 26, 2018 4:36pm
Quoting DJsignals
Trading Tips: The more time you spend staring at indicators, the less time you have to study your charts.

A trading tip with good intent and purpose.

My version:
" The more time one spend looking at an indicator angle, the more time he has wasted and he will still be losing his hard-earned money trading retail forex".
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #88,796
  • Jul 26, 2018 4:51pm Jul 26, 2018 4:51pm
Quoting DJsignals
{quote} Yup, its good when trade TDI cross in same direction with main trend, but not always good decision. When trade TDI cross against the trend, is bad decision, but not always bad decision. Trading is probability game. How you win this probability game? For me, this is my tool, its called Risk Reward. Risk Reward is crucial. Risk reward is the most important aspect of trading. See table below, even with 30% of winner, can produce money bigger than 70% of winner. {image}
Hi DJ,

There are Excel speadsheet for those random probability analysis.

You don't need 10mins to remove an indicator from your chart.
In fact after you set up your study charts with those indicators, you must save them as chart templates. This is basic everyone knows.

What someone do not know is that indicator can be 'turn on / turn off' just with one mouse click button.

Also, you can change indicator parameter sets by mouse click buttons too.

I know hindsight is 20:20, but I have foresight that in year 2020 I will retire MT4.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #88,797
  • Jul 26, 2018 8:04pm Jul 26, 2018 8:04pm
Quoting emmanuel7788
{quote} A trading tip with good intent and purpose. My version: " The more time one spend looking at an indicator angle, the more time he has wasted and he will still be losing his hard-earned money trading retail forex".
My Version

The more time one spend looking at an indicator angle, the more time they have wasted not understanding the current market type therefore taking the wrong trades at the wrong time at the expense of there Equity.
Trading thin liquidity at the boundary of the charts
  • #88,798
  • Jul 26, 2018 11:25pm Jul 26, 2018 11:25pm
Quoting Tekkies
{quote} DJ Table is incomplete. What about: 75% - 4 times - $1000 - 3 - 7 - ???????????? or 25% - 1 times - $1000 - 7 - 3 - ????????????
  • #88,799
  • Jul 26, 2018 11:34pm Jul 26, 2018 11:34pm
Quoting emmanuel7788
In fact after you set up your study charts with those indicators, you must save them as chart templates. This is basic everyone knows.
This is that i know.

Quoting emmanuel7788
What someone do not know is that indicator can be 'turn on / turn off' just with one mouse click button. Also, you can change indicator parameter sets by mouse click buttons too. I know hindsight is 20:20, but I have foresight that in year 2020 I will retire MT4.
This is that i dont now.
Maybe using auto hot key?
  • #88,800
  • Jul 27, 2018 12:05am Jul 27, 2018 12:05am
Anyone take this bearish engulfing?

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