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Monitor for 'Trading Made Simple' system 565 replies

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Trading Made Simple

  • #91,141
  • Sep 24, 2018 6:04pm Sep 24, 2018 6:04pm
Time of day, SL and TP positioning may be disagreeable to the OP,....testing this strategy

B 6993; SL 6965; TP 7022

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  • #91,142
  • Edited 6:26pm Sep 24, 2018 6:15pm | Edited 6:26pm
Quoting lddd
So maybe its possible the strategy just doesn´t work anymore the way BigE described it used to be...
I have not seen anyone lately actually use TMS or Trading Made Simple.

Most of what goes on here is TMSE or Trading Made Something Else.

TMS tells you these things
1. Trade the H4 from the Frankfurt to the US session.
2. Trade the H1 for the first three hours after the US open.

So you have a maximum of 5 decisions each day.

To monitor the H4, set an alarm 10 minutes before the bar is to close. Upon the close, check for a cross that makes sense (the Basics). If it is not there, next pair. You only do this 8 times and then it's off to your own time. So if you are really slow, it takes you ten minutes every four hours over 8 hours. That is 20 minutes a day. You only make two decisions per pair.

If you go on the trade the US session, you monitor all three hours. So the maximum time commitment is 3 hours and 20 minutes. Not even half of an eight hour shift.

If you can count to six, you don't need to switch charts, you only need to count back 6 bars if on the H4 to get your daily direction, and look at the last period separator on the chart to get the weekly direction. If you are trading against either of these, then your trade does not make sense. It is not TMS.

So you could start by actually forward testing the system as laid out. That is TMS. Anything else is TMSE.
If you are good at something, never do it for free--Joker
  • #91,143
  • Sep 24, 2018 6:30pm Sep 24, 2018 6:30pm
Quoting jmn5611
{quote} I have not seen anyone lately actually use TMS or Trading Made Simple. Most of what goes on here is TMSE or Trading Made Something Else. TMS tells you these things 1. Trade the H4 from the Frankfurt to the US session. 2. Trade the H1 for the first three hours after the US open. So you have a maximum of 5 decisions each day. To monitor the H4, set an alarm 10 minutes before the bar is to close. Upon the close, check for a cross that makes sense (the Basics). If it is not there, next pair. You only do this 8 times and then it's off to your...
And I cam here sh*ting on this thread without even understanding what the original TMS was meant to be. I feel really great now lol
Staying in my lane...
  • #91,144
  • Sep 24, 2018 6:33pm Sep 24, 2018 6:33pm
Trade the Daily or Dailys or Dailies ... or simply D1

Quoting eelfranz
Hey Gang, You know I prefer to trade the the 1 & 4hr timeframes.... Don't be afraid to trade the Dailies for you working guys and gals. They generally have nice runs per reversal.... give it a try....
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Quoting eelfranz
Kumo... No problem buddy... I guess what I don't like about the Dailys they have big pull back often and on a Daily chart that is a lot of pips... and as always I hate giving 1 pip back to my broker... I'll do more research on it... Thanks...
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When I trade the D1 I have to be able to handle the pull back every day. What do I do? I trade with Average Entry Price instead of entering one single trade at full risk. M5 works great to trigger the multiple entries after I have a D1 setup. On an average, there will be 3 to 4 entries per basket of 5 trades/basket.

And test trading the Daily...
Quoting eelfranz
I'm going to do a test on the Daily charts. When green crosses red I'll stay in until green crosses red again. I'll report the results in a week or so... I'll only enter if the candles are medium length or larger... wish me luck ...
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Enjoy the learning journey folks,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #91,145
  • Sep 24, 2018 6:37pm Sep 24, 2018 6:37pm
Quoting PeterE
Time of day, SL and TP positioning may be disagreeable to the OP,....testing this strategy B 6993; SL 6965; TP 7022 . {image}

you got the correct NFF 'reversal' candle for that TMS entry .....
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #91,146
  • Sep 24, 2018 6:44pm Sep 24, 2018 6:44pm
[quote=ejiexe;11512447Just watch PA reaction at 0.7000 It will take me less than 2 minutes to decide if I am to trade this pair which I don't trade anyway. {image} {image} {image}[/quote]

Could you be so kind and further explain to me what you mean by PA reaction at 0.7000

i guess you mean price could not break this level?

i am not sure but let’s assume I would care about such round numbers I am near wouldn’t it be the same as with every other support or resistance might find?

So taking care or maybe even drawing in more SR lines would probably keep me away from every setup i will ever get because i would be close to such line/Level :-) Which are not many by just focusing on one market trying to end up in positive pips each month trading the H4 anyway.

Further I could not find BigE saying much here instead of providing the entry/exist conditions and leaving everyone by „doing all the basic stuff... I watch for everything...“

I mean, where to you end up as a newbie trying to find something you can follow up by reading such statements? Looking for a routine you can follow each new day this can mean anything and nothing.
  • #91,147
  • Sep 24, 2018 7:05pm Sep 24, 2018 7:05pm
Quoting ejiexe
On the AUDCHF which I don't trade anyway but to let you know how it can be done. I will make it brief. 1. Look at weekly candle. Last week was a reversal candle. 2. On daily we have a bounce trade (Low probability but reversal on weekly is important) 3. On 4hr we are on the 3 candle. Meanwhile, we had signal already on the second candle which open at 0.6982 and 3rd candle open 0.6969 which is still a better price. Remember, if we enter on 4hr you will be checking every 4hr to see the progress. we expect to have 3-8 HA candle Note: Market session...
I stopped trading CHF pairs for many years which leaves me with only 19 pairs to trade.

this is what I see on W1 and H4.

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when the market type conditions changed from trending to ranging, you must also change your trading system to trade the ranging market type.

Market Types – the first key to Forex system development.
“Expecting the same system to work in all market types is the definition of insanity”
Market type refers to the different stages or states that a market flows through.
The market type concept was made popular by trading coach and psychologist Van Tharp in his books and courses. Tharp believes that while it is insanity to expect a system to work in all conditions, if you can define the market type then it is relatively easy to design a system that provides an edge in that specific market type.
Think about it.

First Key to System Development:
https://www.axitrader.com/au/market-...x-market-types
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #91,148
  • Sep 24, 2018 7:09pm Sep 24, 2018 7:09pm
Quoting jmn5611
Knowledge will always convert to income at some point.
Well death also converts at some point it’s only a question of how fast you reach to that knowledge point before it doesn’t makes sense any longer if you reached there or not.

So if you want to enjoy life while you actually be alive you better hurry up reaching at this point before you‘re gone...
  • #91,149
  • Sep 24, 2018 7:21pm Sep 24, 2018 7:21pm
Quoting lddd
{quote} Well death also converts at some point it’s only a question of how fast you reach to that knowledge point before it doesn’t makes sense any longer if you reached there or not. So if you want to enjoy life while you actually be alive you better hurry up reaching at this point before you‘re gone...
Young people are always worried about time

Festina Lente, lddd.

Trees to not grow overnight, you must first plant the seeds, and then tend the orchard. It will come if dedicate yourself to a structure in which you gather, process, and apply information.

Quoting VEEFX
{quote} And I cam here sh*ting on this thread without even understanding what the original TMS was meant to be. I feel really great now lol
A least you are sh*tting trader turds.
If you are good at something, never do it for free--Joker
  • #91,150
  • Sep 24, 2018 9:43pm Sep 24, 2018 9:43pm
Quoting Tekkies
{quote} Don't be so sure of yourself Chenzo. AU is going to about 0.724316 then into consolidation before heading back up. Take what little profit you have made before it is to late.
Wow you must be a prophet. To the exact number?

Tekkies, if you haven't understood already... I don't listen to traders on Forex Factory. I am my own trader. If I wanted or needed advice, I would be following traders and actively trying to learn on a thread. I have found my way of trading and have been doing really well not listening to what others think of price.

I see charts differently because I think different than the 95% that are losing. Do I have losing days? Of course, but they are rare as I try and pick the best set ups.

Thank you but I will continue adding till my TP is hit.

Currently have 23 trades open on audjpy, audcad, and audusd . All short of course.

You will learn the most from your losing Trades
  • #91,151
  • Sep 24, 2018 10:06pm Sep 24, 2018 10:06pm
Quoting jmn5611
If you can count to six, you don't need to switch charts, you only need to count back 6 bars if on the H4 to get your daily direction
jmn5611 -- I've started using the LargeTimeFrame indicator you pointed me to -- it provides a nice visual cue and gives me confidence I'm choosing the right direction.

Quoting jmn5611
Most of what goes on here is TMSE or Trading Made Something Else.
Here are the steps I'm following -- am I trading TMS or TMSE? By the way, I'm only trading H4. Big E's schedule of 10p, 2a, 6a works fine by me.

Step #1. Potential signal (i.e. potential entry)
a. green crosses red, plus the angle is sufficiently steep
b. use stochastic to confirm direction
c. confirm this is candle #1 or #2

Step #2. Verify the potential BUY / SELL is consistent with the trend
a. use 5-EMA as a proxy for higher TF
b. use LargeTimeFrame indicator to deduce trend of most recent 6 candles
c. check S/R
d. check sizes and wicks of neighboring candles

NOTE: For now I'm ignoring bounce signals -- I just want to get the basics down.

Coming from the world of algorithmic trading, statistics and ticks, I'm not really clear about Step #2d (neighboring candle sizes and wicks). When you have a chance, could you post some pictures?

So -- am I roughly following the game plan or did Big E just slap his forehead and shake his head sideways?
  • #91,152
  • Edited 11:16pm Sep 24, 2018 10:15pm | Edited 11:16pm
Quoting lddd
{quote} Well Rick, even if you would manage to have a portfolio of EAs booking you in CONSTANTLY a 50 pips instead of 2000 trading 50 lots each trade on EUR/USD for example would generate you a 20k/week. So you would be a millionaire pretty fast even on a small acount compounding that pips for just a few month. So what are you still here for may i ask ? I guess that 2000 pips with your portfolio of EA´s is taking each trade at 0.01 lots instead.... Well this is no magic i can do this too..
Hi Iddd

Trade size is totally depended on size of account you trade, my problem is trading multiple EA’s requires a lot of equity as we have to divide it up between many accounts. This limits the size of any trade size because I can’t trade any strategy that shows more than a 10% draw down in testing in that one account. Therefore if you want 20k profits a week, you need to borrow me 1.5 million dollars
Trading thin liquidity at the boundary of the charts
  • #91,153
  • Sep 25, 2018 12:44am Sep 25, 2018 12:44am
Quoting robots4me
{quote} jmn5611 -- I've started using the LargeTimeFrame indicator you pointed me to -- it provides a nice visual cue and gives me confidence I'm choosing the right direction. {quote} Here are the steps I'm following -- am I trading TMS or TMSE? By the way, I'm only trading H4. Big E's schedule of 10p, 2a, 6a works fine by me. Step #1. Potential signal (i.e. potential entry) a. green crosses red, plus the angle is sufficiently steep b. use stochastic to confirm direction c. confirm this is candle #1 or #2 Step #2. Verify the potential BUY / SELL...
You are the closet I have seen in awhile. 2d is not really that major if you take a timely cross with a good angle that makes sense.

Edit: Actually, you are right on target. Just remember, Entries at 10p and 2a, out at 6a. These are the initial parameters. TMS is meant to be scaled as your skills improve.
If you are good at something, never do it for free--Joker
  • #91,154
  • Edited 1:45am Sep 25, 2018 12:59am | Edited 1:45am
Quoting lddd
@Tekkies Is there a way to see at what exact time/price the TDI green/red cross hapened in the past? Example H4 chart. {image} I am not sure here at what point it did. For me visually it could first clearly see TDI green/red crossed at the second blue candle. As a result, in this case the entry according to BigE´s rules would be the opening of the third blue candle´s open price right? If it crossed within the first blue candle. My entry would have been to late (which it it looks like it was already by what i see now). Putting a vertical line on...
Can think of one way. Need to do some mq4 coding. Use Comment to show green / red , date + time on screen or Print function. Control speed with F10 in backtesting. Can also export to Excel
---
Why third blue candle? Second blue candle is already above 5EMA and green above red.
#115....... and you can actually see the green on the other side.............
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BigE got all the info from the time frame he trade on. (looking at other time frame is fine tuning TMS to your way of trading)
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I use both M15 / H1 to enter a trade. M15 crossover only ensure that entry is at the beginning of the new H1 bar. Again why whait. Most of the time H1 green will cross red, if it does not you have problems ea: green bounce red.
---------
Last chart
You are counting wrong. You start to count the bar's from the crossover (red line). Where that sell order is placed is bar 6 or 7. That will put the sell order at the end of the uptrend. Buy order should be sell order.
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Iddd how BigE described it back then is still the same today. This month the bar's average 10 / 20 pips length, next month they can go to 40 / 80 pips length. Take what the market is willing to give.
  • #91,155
  • Sep 25, 2018 1:26am Sep 25, 2018 1:26am
Quoting jmn5611
Actually, you are right on target. Just remember, Entries at 10p and 2a, out at 6a.
Excellent -- thank you, jmn5611. Also, thanks for clarifying "out at 6a" -- I was missing that part.
  • #91,156
  • Sep 25, 2018 2:14am Sep 25, 2018 2:14am
Quoting Chenzo25
{quote} Wow you must be a prophet. To the exact number? Tekkies, if you haven't understood already... I don't listen to traders on Forex Factory. I am my own trader. If I wanted or needed advice, I would be following traders and actively trying to learn on a thread. I have found my way of trading and have been doing really well not listening to what others think of price. I see charts differently because I think different than the 95% that are losing. Do I have losing days? Of course, but they are rare as I try and pick the best set ups....
Not a prophet.
Simple S/R level. Take that number, plot a H-line on chart, switch line chart, zoom out. When last was AU this low. What happened most of the time over the last 3 / 4 years around that level.
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Ok you are your own trader. Why are you posting in this thread? Why did you open your own thread? You don't listen to trader's yet you expect member's to listen to you, admire your pips profit. When you did not received the recognition you grave your post's become repulsive. Can you refer to any of your post's in this thread where you made a positive contribution regarding TMS?
  • #91,157
  • Sep 25, 2018 7:28am Sep 25, 2018 7:28am
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  • #91,158
  • Sep 25, 2018 8:13am Sep 25, 2018 8:13am
Quoting RickM
{quote}my problem is trading multiple EAs requires a lot of equity as we have to divide it up between many accounts.
Ok, trading each EA on a seperate account makes sense. That way you can reduce risk of a total loss of all your trading capital if an EA suddenly fails.

But you are not forced to divide multiple EAs between many accounts. Technically you could also just run them on one account. Depending on the draw down you allow for each of these EAs / accounts sure you would need to have a huge amount of trading capital to split over these accounts to trade multiple lots per position.

But my point is. If you do have such portfolio of multiple EA´s making you a contant 2k/pips per week. Wether or not accounts splitted or not (and you can actually proof this for sure over a period of lets say 1 year) it should be really not problem to acquire such capital.

Investors should run your doors if you become a signal provider or you can do a croud funding campaign to get this capital you need, talk to individual investors, become your own hedge fund and so on. You would have a lot of possibilities here.

But like said you really need to be able to provide a CONSTANT proof of success for your trading results. This means a transparent trading record with one or more reliable brokers verified by an independent trustee.
  • #91,159
  • Sep 25, 2018 8:26am Sep 25, 2018 8:26am
I believe this is a TMS set-up....although SL & TP have been customised (wink)

.
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  • #91,160
  • Sep 25, 2018 10:02am Sep 25, 2018 10:02am
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