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Trading Made Simple

  • #89,701
  • Aug 19, 2018 7:27pm Aug 19, 2018 7:27pm
Quoting emmanuel7788
{quote} GBPUSD Week 34 August 20 to 24, the Market Type has changed from Trending to Sideways, is good for range trading strategy. Weekly range is 225 to 250 pips until I see a breakout. Tomorrow, we have weekly planning session at London 3PM. After that I will post my Big Picture Plan and trade plan for MEME trading from next week 34, August 20 to 24.

GBPUSD Week 34 Aug 20 to 24

I have one open basket from last week - 3 open sell positions in one basket. I will manage this basket this week and if the market become choppy, it can be closed with breakeven or a small loss which will eat some of my profits made so far in August. ($826 and 1184 pips, total 23 positions closed)

Weekly Chart below:
The market type changed as the price lost its downward momentum.
It is range trading so we adapt our TMS trading strategy for range trading.
We want to trade only the best setups and look for swing potential of 3 to 8 candles (Post#647) ...H4.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD Week 34 Aug 20 to 24..png Size: 50 KB


TMS multi-charts below.
You see the Weekly range high Low on the H4. Look at the 10/50/200 EMAs, that give use the visual of the H4,D1 and W1 'trends'.
But when the trend you see is not clear, what do you do?

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD Week 34 BPP pipware H4.png Size: 75 KB


And do not forget to look at calendar events. Brexit talks still ongoing so we must trade with more caution, know when to cut-losses and also know when to let_profits_run... (this is the holy grail system belief - cut losses, let profits run)




Trade Well and be Happy.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #89,702
  • Aug 19, 2018 8:00pm Aug 19, 2018 8:00pm
Nice post...are you supply and demand trader?
  • #89,703
  • Aug 19, 2018 10:05pm Aug 19, 2018 10:05pm
Traders and Mistakes

An interesting post in another thread title "Are we all idiots?" link below: Watch/listen to that video.
https://www.forexfactory.com/showthr...2#post11382892


TMS traders are like all other traders coming to ForexFactory looking for a system.

We all make the same mistakes regardless which trading method, strategy or system we chose.

Big E, the OP of this thread was a ruled-based discretionary type of trader with years of stock trading experience.

Traders and Mistakes pdf .

What type of trader are you?
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #89,704
  • Aug 19, 2018 10:39pm Aug 19, 2018 10:39pm
interesting article but just one mans discretionary opinion. i am mechanical in my trading but not automated. The way i trade cant be automated because i trade supply and demand with a twist since i look for where buyers and sellers come in based on futures data but not the convention way supply and demand is taught. i think the real question should be are you a daytrader or medium or long term trader. If those who trade this system think they are a daytrader trading off 4 hours charts be prepared to lose your money
  • #89,705
  • Aug 19, 2018 10:59pm Aug 19, 2018 10:59pm
thx for pdf
  • #89,706
  • Aug 19, 2018 11:55pm Aug 19, 2018 11:55pm
Quoting emmanuel7788
{quote} It is all about our EXPECTATIONS. If you look up to someone as a guru of sort, you will have certain expectations. You will disappointed. I learned my lesson years ago before I retire and I wanted to trade full time. I went to a trading school which advertised their master trainer and coach as one of the market wizards mentioned in Jack Schwager's book. I was sold so I enrolled as a student for a one-year mentor-ship program. In that 12 moths I learned a lot of stuff about trading the markets. That was a real fun time. The reality is, that...

Emmanuel,

would you share what what were the things you unlearned, and recommend us not going to that path, thanks.
  • #89,707
  • Aug 20, 2018 1:31am Aug 20, 2018 1:31am
Quoting emmanuel7788
{quote} GBPUSD Week 34 Aug 20 to 24 I have one open basket from last week - 3 open sell positions in one basket. I will manage this basket this week and if the market become choppy, it can be closed with breakeven or a small loss which will eat some of my profits made so far in August. ($826 and 1184 pips, total 23 positions closed) Weekly Chart below: The market type changed as the price lost its downward momentum. It is range trading so we adapt our TMS trading strategy for range trading. We want to trade only the best setups and look for swing...
Thanks Emmanuel
I'm sure you've been asked this a dozen dozen times, but can you share that MTF, multi-view template please.
  • #89,708
  • Aug 20, 2018 1:33am Aug 20, 2018 1:33am
Maybe this video help some peeps. Sometimes a visualization of a Guru makes it clearer.


Inserted Video



Newbies be warned of emmanuel7788. Hes not true.
  • #89,709
  • Aug 20, 2018 1:59am Aug 20, 2018 1:59am
And TDI is still King in this 5-methode.
Late entry.
Yellow / Pienk cross - entry on M15.
Took the crossover on H1.
Attached Image (click to enlarge)
Click to Enlarge Name: nbcnvbn.PNG Size: 43 KB
  • #89,710
  • Aug 20, 2018 2:11am Aug 20, 2018 2:11am
Quoting MaxZen
{quote} Thanks Emmanuel I'm sure you've been asked this a dozen dozen times, but can you share that MTF, multi-view template please.

FAQs Frequently Asked Questions:

TMS Monitor

Pipware multi-charts


lookup these posts below.

Post#76,270 for the pipware tool

and

Post#193 for the TMS Monitor tool

setup your charts with those simple tools the way you want to see them and use them. save them as your own templates.

most important is you know the 5-Method and how to trade the 5-Method.

make sure you read those threads for more information how to set up the indicator (pipware) and the expert advisor(TMS Monitor).
if you have questions, post and ask in those threads and I'll try find time and help there.

Be warned: The TMS Monitor is an expert advisor and can be very CPU intensive if you select all pairs in the input parameter.
For optimum performance, I have only up to 20 pairs.
You should consider to select only the pairs you trade and input their symbol in the parameter.

Have fun and enjoy using all the TMS trading tools provided by members in FF.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #89,711
  • Aug 20, 2018 2:57am Aug 20, 2018 2:57am
Quoting mousteven
{quote} Emmanuel, would you share what what were the things you unlearned, and recommend us not going to that path, thanks.

Here's something no-one ever talks about... I believe that it is a rarity to come into this game and be 'mentored' by a true winner from the start. To learn from them and follow.

Instead, it is normal to learn many 'methods', none of which are ever the answer. From then it takes much longer to 'unlearn' all of these ideas.

In the end, they all add up to a mess, cos you will forever revisit them. Don't forget, they all work at some stage and it is witnessing their success, which causes you to go around and around in a vicious circle.

This thread really is just for entertainment purposes. I've read figures such as 80 or 90% success rates being touted... oh my! So why, with such success are position sizes not ramped up until you're returning $m's?

There is so much bullshit being claimed here, all from a simple green crosses red method, it's unbelievable that people fall for it.

Oh it needs to cross at this angle or that. What an absolute joke. Sorry to burst your bubble newbies, but this method and all the time that you dedicate to it, will simply start your vicious circle and cost you a lot of wasted time...
GoFundMe -stage-4-glioma-brain-cancer-fighter (link in my profile)
  • #89,712
  • Aug 20, 2018 3:06am Aug 20, 2018 3:06am
Quoting The Cableguy
{quote} Here's something no-one ever talks about... I believe that it is a rarity to come into this game and be 'mentored' by a true winner from the start. To learn from them and follow. Instead, it is normal to learn many 'methods', none of which are ever the answer. From then it takes much longer to 'unlearn' all of these ideas. In the end, they all add up to a mess, cos you will forever revisit them. Don't forget, they all work at some stage and it is witnessing their success, which causes you to go around and around in a vicious circle. This...
Nobody needs a 80-90% success rate and not sure who claimed to have one here. Whats your trading strategy and how "successful" you are with it?
  • #89,713
  • Aug 20, 2018 3:35am Aug 20, 2018 3:35am
Quoting lddd
{quote} Nobody needs a 80-90% success rate and not sure who claimed to have one here. Whats your trading strategy and how "successful" you are with it?
I thought it was you?
'in less than half an hour he made over 100 ticks'
  • #89,714
  • Edited 6:40am Aug 20, 2018 3:40am | Edited 6:40am
Quoting lddd
{quote} Nobody needs a 80-90% success rate and not sure who claimed to have one here. Whats your trading strategy and how "successful" you are with it?

There are two main types of PA. Firstly, fast moving, driving PA, what EW'ers will refer to as a powerful 3rd wave... this kind of PA is often confined to a channel.

The second style is of choppy action where there are many crossovers and retraces are deeper.

I am a Supply/Demand trader, primarily... but i am still learning how to combine it together with my EW eye - not so much 'unlearning' as learning how to adapt and marry the two methods together. Sometimes it is necessary to blank that view and other times it is beneficial to use it.... that's what take's an absolute age.

If i was honest, i would not recommend going down the EW route... it takes years to become proficient at it and then... it is still too vague to be successful on small time scales. For investing, that is a different matter and EW can be a great tool for timing accumulations of shares etc.

Here's the thing, there is no one size fits all regarding trading, but i will share with you what i look for in a chart;

Attached Image (click to enlarge)
Click to Enlarge Name: Q13-08-18a.png Size: 132 KB


So, in the red circle, we have an example of the 2nd style. Identify the trend first and foremost, HH's/HL's etc, look left to identify where Demand (if trend is Long) came in and look for a retest to join in. There is a good example of a long then as PA rolls over, there is a 123 which triggers to the short side, so now we look for the opposite - PA to retrace deeply to join in Short.

When PA accelerates, it is likely 3rd wave and notice how the pullbacks do not retrace deeply, to any obvious prior Supply level - here is where, if you can draw a channel, we look to take a short at a trendline touch. You can take this trade (always with trend - not counter) and use a tiny stoploss, cos once a trendline is broken, you're living on hope alone!

If a channel line touch also coincides with a previous S/D level, it makes the set-up much stronger - remember you only need a small reaction to get to safety (stop to BE)

The R:R is massively skewed in your favour, so it's important to remember that losing 4 or 5 ticks here and there is part and parcel of trading, but when your winners will be +20/30 even 40, (don't forget there are 4 'ticks' to a single point move), you can see how much sense it makes...

In summary - S/D,
Firstly - Deep retraces
Secondly - Channel lines

The other ingredient here is that Sierra charts is by far the best and most versatile platform out there, perfect for scalping. Futures is also a world away from FX.
GoFundMe -stage-4-glioma-brain-cancer-fighter (link in my profile)
  • #89,715
  • Aug 20, 2018 3:44am Aug 20, 2018 3:44am
Quoting onejester
{quote} I thought it was you?
Learn to read.
  • #89,716
  • Aug 20, 2018 4:06am Aug 20, 2018 4:06am
Quoting lddd
{quote} Learn to read.
I was joking because I know you are sensitive about it. And hell I'd be if I'd been dicking around for as long as you have.

Anyway. Your mission, should you choose to accept it (whilst on the subject of reading) is to understand what about post 89714 makes him successful. Since you asked, of course.
'in less than half an hour he made over 100 ticks'
  • #89,717
  • Aug 20, 2018 5:27am Aug 20, 2018 5:27am
Quoting Tekkies
And TDI is still King in this 5-methode. Late entry. Yellow / Pienk cross - entry on M15. Took the crossover on H1. {image}
Attached Image (click to enlarge)
Click to Enlarge Name: fjghjhjhjhgf.PNG Size: 34 KB
  • #89,718
  • Aug 20, 2018 8:15am Aug 20, 2018 8:15am
Quoting Tekkies
{quote} {image}
Hi Tekkies, iI see you use an trademanager, can you tell me, which one do you use, and what seetings are useful, thanks in advance
  • #89,719
  • Aug 20, 2018 9:15am Aug 20, 2018 9:15am
Quoting Tekkies
And TDI is still King in this 5-methode. Late entry. Yellow / Pienk cross - entry on M15. Took the crossover on H1. {image}
But there was not crossover on the H1 The DE30 chart chart shows a short entry on the M15, but thats it.
  • #89,720
  • Aug 20, 2018 9:57am Aug 20, 2018 9:57am
Quoting nschwegl
{quote} Hi Tekkies, iI see you use an trademanager, can you tell me, which one do you use, and what seetings are useful, thanks in advance
No TradeManager.
Go to Account History and drag close order onto main chart.
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