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Trading Made Simple

  • #92,481
  • Nov 24, 2018 9:38am Nov 24, 2018 9:38am
I am going to post some charts of when not to trade. I see plenty of pictures of trades taken, but not enough showing when not to trade.(Stay tuned)
Make it as perfect as you can....
  • #92,482
  • Nov 24, 2018 9:56am Nov 24, 2018 9:56am
When not to trade.
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  • #92,483
  • Nov 24, 2018 10:15am Nov 24, 2018 10:15am
Sometimes even though you would of made pips......stick with the system....when not to trade examples
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  • #92,484
  • Nov 24, 2018 10:29am Nov 24, 2018 10:29am
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ESPECIALLY AFTER IT HAS BROKEN OUT OF A TRADE LEVEL.
Make it as perfect as you can....
  • #92,485
  • Nov 24, 2018 10:52am Nov 24, 2018 10:52am
As a tip to people, look back and see when a trade would have failed on a TDI cross. A good decent angle and candle size. Figure out why it didn't go in your favor. Look at the trend, nearby candle sizes, price levels, and stochastics. Just consistently look at the losing trades and you will be able to figure out why it didn't work and then you can make adjustments.
Make it as perfect as you can....
  • #92,486
  • Nov 24, 2018 4:59pm Nov 24, 2018 4:59pm
Good information Phil.

If I could add that pair selection is very important when you start trading TMS. Through my EA development work, you soon learn which pairs react favourably to trending strategy's, reversal strategy's and ranging strategy's.
AUDNZD is a reversal strategy pair king and offers profit factors of 5+ on many reversal strategy's. Its also great with Ranging strategy's.
If I still traded TMS, I wouldn't select this pair but look to trade pairs that profit well in Trending strategy's.
As an example, the best trending pairs for three of my EA's are GBPAUD / GBPCAD / GBPJPY / GBPUSD / EURCAD / EURAUD / EURNZD (My favourite Pair).
Trading pairs that offer good results on a few TRENDING strategy's, not just TMS is where I believe we should start.
Trading thin liquidity at the boundary of the charts
  • #92,487
  • Nov 24, 2018 9:21pm Nov 24, 2018 9:21pm
The TMS system is the only system besides pure price action that I rely on. I was a garbage truck driver and was able to finally quit my job and trade for a living. Every once in a while now I come back and visit this site to help some traders out. The TMS system is very reliable. If you use good money management skills and know when to let your trades run into more profits it still works till this day. My whole problem was never letting my trade continue into profit. I would always cut it short on a flat tdi or checkmark or angle. Knowing when to get in and out of a trade is a big part of this system.
Make it as perfect as you can....
  • #92,488
  • Nov 24, 2018 9:26pm Nov 24, 2018 9:26pm
Quoting philstodd
The TMS system is the only system besides pure price action that I rely on. I was a garbage truck driver and was able to finally quit my job and trade for a living. Every once in a while now I come back and visit this site to help some traders out. The TMS system is very reliable. If you use good money management skills and know when to let your trades run into more profits it still works till this day. My whole problem was never letting my trade continue into profit. I would always cut it short on a flat tdi or checkmark or angle. Knowing when...
Excellent well said I understand what you mean....Eelfranz left a brilliant strategy I wish he was still alive to personally thank this great man....I read all his post on a PDF and still keep reading over and over.Do you use the original chart setup or did you change it philstodd?
  • #92,489
  • Nov 24, 2018 9:39pm Nov 24, 2018 9:39pm
(Tip) If I get a loss and there is a "good" TDI cross not many candles after. I usually never take the trade because since this is such an accurate system, it possibly means the market might be a in a whip-saw stage. Where is has big spikes up and down after each other. Meaning you get a good cross up and then a fast spike down or vice versa. Those are areas for disaster. Sit back and watch the pair for the rest of the day or few or just go look at other pairs. You should be able to get out of most trades with a small profit or break-even at the minimum, but you will always have some average losers here and there. That's life. Sometimes the best thing to do after a loss on a pair is not trade that pair for a day or two.
Make it as perfect as you can....
  • #92,490
  • Nov 24, 2018 9:42pm Nov 24, 2018 9:42pm
Quoting scsstnt
{quote} Excellent well said I understand what you mean....Eelfranz left a brilliant strategy I wish he was still alive to personally thank this great man....I read all his post on a PDF and still keep reading over and over.Do you use the original chart setup or did you change it philstodd?
I use all original settings with the Stochastic Slope indicator. Still 8,3,3 setting though. It just shows the correction on the stoch in red color. Same thing basically. You can see it above in my post images.
Make it as perfect as you can....
  • #92,491
  • Nov 24, 2018 10:00pm Nov 24, 2018 10:00pm
Repeating patterns are money makers for the TMS system. I increase lots with these. They are also extremely easy to spot with the heiken candles. Highly Accurate!!! ALWAYS KEEP AN EYE OUT FOR REPEATING PATTERNS!
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  • #92,492
  • Nov 24, 2018 10:38pm Nov 24, 2018 10:38pm
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  • #92,493
  • Nov 24, 2018 10:40pm Nov 24, 2018 10:40pm
Quoting philstodd
The TMS system is the only system besides pure price action that I rely on. I was a garbage truck driver and was able to finally quit my job and trade for a living. Every once in a while now I come back and visit this site to help some traders out. The TMS system is very reliable. If you use good money management skills and know when to let your trades run into more profits it still works till this day. My whole problem was never letting my trade continue into profit. I would always cut it short on a flat tdi or checkmark or angle. Knowing...

@philstodd,

for giving some people hope.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #92,494
  • Nov 24, 2018 10:48pm Nov 24, 2018 10:48pm
Its that time of the year and I am enjoying my year end vacation.
Scale down my trading and only trade the long term and will stop trading by Week 50 Dec 14.
No more trade from Week 51 Dec 17 week and will resume in Week 02 Jan 11 2019.

For those trading H4 in Week 51 and 52, the TDI signal wont be reliable so do not depend too on the TDI for trade signals.

You can still trade H1 and M15 and best do it on demo and not with your real money.

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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #92,495
  • Nov 24, 2018 10:55pm Nov 24, 2018 10:55pm
Quoting philstodd
{image}

looking at your H4 chart, it is simple... just look at Weekly chart first and you will see the Weekly price bars/candles price action and know when not to trade H4 at the beginning of the week.

remember Post#647, Big E only trade when he sees potential for swings which last 3 to 8 candles. When he sees that the price action is in consolidation (Weekly) he would not trade the TDI on H4. If there is recent swing high/low previous support / resistance to the left of this charts, there are risks and the potential for swing of 3 to 8 bars/candles low. He would scalp those setups.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #92,496
  • Nov 24, 2018 10:57pm Nov 24, 2018 10:57pm
Quoting philstodd
{quote}I use all original settings with the Stochastic Slope indicator. Still 8,3,3 setting though. It just shows the correction on the stoch in red color. Same thing basically. You can see it above in my post images.

Do you use the TDI Red Green version in Post#25?
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #92,497
  • Nov 24, 2018 11:16pm Nov 24, 2018 11:16pm
Quoting scsstnt
{quote} Excellent well said I understand what you mean....Eelfranz left a brilliant strategy I wish he was still alive to personally thank this great man....I read all his post on a PDF and still keep reading over and over.Do you use the original chart setup or did you change it philstodd?

You would learn more when you read and study his posts in his old thread. Most of what he posted in this thread originates in the old thread and are from different systems he traded before. You will learn by following his journey as a newbie starting in 2008 till 2010. From then onward, you continue your own learning journey to become a better trader. Learning to trade does not stop at the time Big E died in 2012. You must continue on your own and develop your own trading systems that fits you.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #92,498
  • Edited 8:26am Nov 25, 2018 2:35am | Edited 8:26am
Quoting philstodd
My whole problem was never letting my trade continue into profit. I would always cut it short on a flat tdi or checkmark or angle. Knowing when to get in and out of a trade is a big part of this system.
@philstodd -- thanks for your tips -- good insights...

I agree with the above statement -- and I had a question. Couldn't this be addressed by using appropriate SL and TP? Don't take me literally, but as an example: SL=500 points, TP=500 points for GBPUSD / H1.

With this type of approach you only need to get the entry right -- and then leave it to the broker to close the position. The SL=500 gives some breathing room for the prices to go up and down. And if it is a good Entry (i.e. green crosses red, matches the trend and is consistent with Stoch, etc., etc.) then there is a high probability you will eventually hit the TP. The drawback is you will often leave pips on the table. But the benefit is you only need to press the BUY/SELL button when the setup looks good -- and then simply let it run. You don't have to keep watching the trade and deal with the psychology of when to exit. I've found this greatly simplifies trading -- i.e. not being concerned about when to exit. This also simplifies the coding of EAs.

So, again, if you have a strategy that you have confidence in (i.e. TMS ) and you have the proper tools to make good decisions about when to open a new position, then why not leave the rest to the broker?

NOTE: The optimal SL/TP combination will probably vary with different pairs.

What do you think?
  • #92,499
  • Nov 25, 2018 8:37am Nov 25, 2018 8:37am
Quoting robots4me
{quote} @philstodd -- thanks for your tips -- good insights... I agree with the above statement -- and I had a question. Couldn't this be addressed by using appropriate SL and TP? Don't take me literally, but as an example: SL=500 points, TP=500 points for GBPUSD / H1. With this type of approach you only need to get the entry right -- and then leave it to the broker to close the position. The SL=500 gives some breathing room for the prices to go up and down. And if it is a good Entry (i.e. green
Ya I eventually figured out the problem wasn't the stop loss though since the system was so accurate. The problem was not knowing when to let a trade keep running in profit. I don't always exit on flat tdi's or angling tdi's depending on the candles, trend and support/resistance. Winners have to be bigger than the losers to consistently make profits, and this system allows huge winners if traded properly.
Make it as perfect as you can....
  • #92,500
  • Nov 25, 2018 8:52am Nov 25, 2018 8:52am
Quoting emmanuel7788
{quote} looking at your H4 chart, it is simple... just look at Weekly chart first and you will see the Weekly price bars/candles price action and know when not to trade H4 at the beginning of the week. remember Post#647, Big E only trade when he sees potential for swings which last 3 to 8 candles. When he sees that the price action is in consolidation (Weekly) he would not trade the TDI on H4. If there is recent swing high/low previous support / resistance to the left of this charts, there are risks and the potential for swing of 3 to 8 bars/candles...
I do the same. I scalp some trades with the system, but I also watch for breakouts of levels with this system. If you get a good breakout it is a great setup for the TDI cross. I focus more on the daily and below charts. I do look at the weekly chart too but that is when I make a trade on the Daily chart. I don't use weekly comparison to 4hr charts. The price range of the levels aren't always as accurate as they should be. Also, yes, I use the original TDI.
Make it as perfect as you can....
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