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Trading Made Simple

  • #92,601
  • Dec 17, 2018 11:54am Dec 17, 2018 11:54am
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...
Hi Philstodd. Lack of MM is my biggest problem with this method. I remember Big E said he does not use SL or TP but I think without proper MM this system might turn to be not profitable as well.

You said your problem was to cut the profits to early by going out on flat TDI, I thought this was the original rule, wasn't it ?

Could you share your SL and TP strategy on TMS system please ?

Many Thanks
  • #92,602
  • Dec 18, 2018 10:48am Dec 18, 2018 10:48am
i under stand some thing in reading PASR Copying it
We are NOT Amateurs. Amateurs manage money by taking RISK. PROFESSIONALS manage RISK by taking money.
Trading is about paying attention. Davit
  • #92,603
  • Dec 18, 2018 10:50am Dec 18, 2018 10:50am
Quoting philstodd
------------
- Just think of the support and resistance levels as magnets.
- Price is always hitting and shooting away from these levels.
---------
Confirming Philstodd post
Blue dot's show where Price recognised a resistance level
H1 has crossed over with a very weak green angle (between 2 and 3)
H1 Stoch did not confirm the direction of the intende trade.
M15 TDI and Stoch is still showing a sharp angle above 1.
Some trader's will call the candle pattern on H1 a Double Top,
------
Quoting philstodd
--------
- If you are new at trading this system and not familiar with recognizing correct tdi crosses, try only trading the larger heiken ashi candle crosses at first.
- Go back and look at the tdi crosses and look at the sizes of the candles.
- Usually the larger candles are better entries.
- Caution: Extremely large candles can be costly though. Sometimes it may just be a spike. Just go back in the charts and look at candle sizes and the crosses with them.
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  • #92,604
  • Dec 18, 2018 6:41pm Dec 18, 2018 6:41pm
Quoting Forbas
{quote} Hi Philstodd. Lack of MM is my biggest problem with this method. I remember Big E said he does not use SL or TP but I think without proper MM this system might turn to be not profitable as well. You said your problem was to cut the profits to early by going out on flat TDI, I thought this was the original rule, wasn't it ? Could you share your SL and TP strategy on TMS system please ? Many Thanks
For the most part, setting a stop loss above or below the previous candle after entry would be ideal. There are things that I factor in though on take profit. If I'm for example in profit 40 or 50 pips I do not let the trade hit my stop loss. If it reverses I would usually take half the profit 20 or 25 pips. Also I exit trades with small profit/breakeven/small loss if the candles start to show reversal signals(doji or hammers) on the regular japanese chart. If the candles start to move sideways and get small. You shouldn't have that many losses if you trade TMS properly in conjunction with price action. A good rule of thumb to follow also is don't trade against an OBVIOUS trend. I personally like to trade the TDI crosses at support and resistance levels in the opposite direction it was moving. I also trade the bounce trades if it breaks support and resistance. I will attach a pic of break support/resistance level and trading the bounce on the tdi. usually a very high probability trade.
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Make it as perfect as you can....
  • #92,605
  • Dec 18, 2018 6:44pm Dec 18, 2018 6:44pm
Also on my above post. Do not trade bounce plays that are getting near support/resistance levels. There's always a good possibility it will reverse and go in the opposite direction. Wait till it breaks supp/resis and shows a bounce on the TDI.
Make it as perfect as you can....
  • #92,606
  • Dec 19, 2018 10:57am Dec 19, 2018 10:57am
Quoting philstodd
I personally like to trade the TDI crosses at support and resistance levels in the opposite direction it was moving.
Yeah I am opposite I can never tell is it still testing the zone and went a bit over or it is actually happening. Many times I found myself getting to late into it or just jumping in to find out it is not happening and it bounces back :-)

Thanks for sharing your SL/TP tactic. I found out from testing it on demo account that TMS makes it great system to enter but does not give you the set rules for SL/TP management and from what I can read through the entire conversation everybody is tackling this on its own way. I also found out if you are patient enough and really pick the best signals then 8/10 times it wont go against you so SL level is not that crucial. also getting out on TDI signal works but sometimes it signals it a bit to late :-)

I discovered if I am not greedy and just aim for 10-15 pips each trade I usually have a winner. It is most of the times when greed wines and I wont to squeeze bit more extra, thats when the losers start showing up :-)

Just started small (£100.00) test live account although I don't feel ready to put BIG money in I need to work on my bad habits and the best way in my opinion is to start live but very small.

thanks again for answering my questions.
  • #92,607
  • Dec 19, 2018 11:45am Dec 19, 2018 11:45am
Quoting Tekkies
{quote} Confirming Philstodd post Blue dot's show where Price recognised a resistance level H1 has crossed over with a very weak green angle (between 2 and 3) H1 Stoch did not confirm the direction of the intende trade. M15 TDI and Stoch is still showing a sharp angle above 1. Some trader's will call the candle pattern on H1 a Double Top, ------ {quote} {image} {image} {image}
Hi Tekkis- its been awhile since my last pos so just checking in with you- hope all is well.

I've seen my account grow to nearly double and in the last week it has nearly gone down to what I started with. Im not sure if its greed or if im just taking trades that are not 100 percent correct as per your system and Big E's.
Below I have posted a trade I took today (without setting a trailing stop) that did not hit my TP and actually went against me- I am baffled because there was no near support levels and angle was very sharp 5-6. Any thoughts as to why you think this did not work out?
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  • #92,608
  • Dec 19, 2018 11:52am Dec 19, 2018 11:52am
I like to check the currency strength before entries. Today the GBPUSD is strong bullish.
  • #92,609
  • Dec 19, 2018 11:59am Dec 19, 2018 11:59am
Roni26

Marked down your entry and exit please.
  • #92,610
  • Dec 19, 2018 12:25pm Dec 19, 2018 12:25pm
Quoting Roni26
{quote} Hi Tekkis- its been awhile since my last pos so just checking in with you- hope all is well. I've seen my account grow to nearly double and in the last week it has nearly gone down to what I started with. Im not sure if its greed or if im just taking trades that are not 100 percent correct as per your system and Big E's. Below I have posted a trade I took today (without setting a trailing stop) that did not hit my TP and actually went against me- I am baffled because there was no near support levels and angle was very sharp 5-6. Any thoughts...

both your timeframes H4 and H1 charts, you sold right into a tested support. Wrong hour of the day to trade. Big E did not trade 6 particular H4 period candles.

Keep It Simple: Do No trade when price is near or in a CONSOLIDATION. Post#647
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #92,611
  • Dec 19, 2018 12:26pm Dec 19, 2018 12:26pm
Quoting emmanuel7788
{quote} both your timeframes H4 and H1 charts, you sold right into a tested support. Wrong hour of the day to trade. Big E did not trade 6 particular H4 period candles. Keep It Simple: Do No trade when price is near or in a CONSOLIDATION. Post#647
What is the best time intervals ?
  • #92,612
  • Dec 19, 2018 12:45pm Dec 19, 2018 12:45pm
Quoting emmanuel7788
{quote} both your timeframes H4 and H1 charts, you sold right into a tested support. Wrong hour of the day to trade. Big E did not trade 6 particular H4 period candles. Keep It Simple: Do No trade when price is near or in a CONSOLIDATION. Post#647

Emmanuel-these support areas I dont think there was any support at this level. If we view these as support levels then there is mini support all over our charts, may aswell not trade at all.
  • #92,613
  • Dec 19, 2018 12:59pm Dec 19, 2018 12:59pm
Quoting Roni26
{quote} Emmanuel-these support areas I dont think there was any support at this level. If we view these as support levels then there is mini support all over our charts, may aswell not trade at all.
It's a clear support on 4h. In addition there is a weekly resistance above the price try to go through and didn't make it so far. What I have observed with weekly levels is that the price is often unstable around this strong levels.

Paal
  • #92,614
  • Dec 19, 2018 1:05pm Dec 19, 2018 1:05pm
Quoting kirinda
{quote} It's a clear support on 4h. In addition there is a weekly resistance above the price try to go through and didn't make it so far. What I have observed with weekly levels is that the price is often unstable around this strong levels. Paal
I forgot one important issue: it's FOMC Statement today so you should be careful with us-pairs.
  • #92,615
  • Dec 19, 2018 7:38pm Dec 19, 2018 7:38pm
Quoting Roni26
{quote} Hi Tekkis- its been awhile since my last pos so just checking in with you- hope all is well. I've seen my account grow to nearly double and in the last week it has nearly gone down to what I started with. Im not sure if its greed or if im just taking trades that are not 100 percent correct as per your system and Big E's. Below I have posted a trade I took today (without setting a trailing stop) that did not hit my TP and actually went against me- I am baffled because there was no near support levels and angle was very sharp 5-6. Any thoughts...
Did you edit heiken candles settings??? Also if you didn't and you took the down-trade on the 4hr chart your stop above the previous candle should of never been hit and still been in profit. my chart looks different. that would of been a no go on my chart. look below.
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Make it as perfect as you can....
  • #92,616
  • Dec 19, 2018 8:14pm Dec 19, 2018 8:14pm
Another losing trade- Im beginning to lose my stride... Entry on the red line,, H4 cross up first good angle.. h1 showed bounce up which is when I entered, this is Tekkies method. Now it is not looking so good. Some resistance above entry but the bounce was off a major h4 support area.

Tekkies? Anyone else want to chip in?
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  • #92,617
  • Dec 19, 2018 8:35pm Dec 19, 2018 8:35pm
It seems you are not letting these trades move in your direction.....you have to allow some time to go into profit off the start, even if your down pips. A good rule of thumb for tdi flat and checkmark is when it is alrady in profit or just been moving sideways for a couple or few candles....also don't over leverage your trades. you will lose money by getting a margin call. Also like i said my charts are showing 3 huge doji candles for the last three candles...your heiken ashi candles are different.....that would of been another no trade.
Make it as perfect as you can....
  • #92,618
  • Dec 19, 2018 8:43pm Dec 19, 2018 8:43pm
your charts are definitely different
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Make it as perfect as you can....
  • #92,619
  • Dec 19, 2018 8:55pm Dec 19, 2018 8:55pm
Go back and look at how many times price never hits the high or low of the candle BEFORE the entry candle. Not much. If it does it is usually a second candle spike or you let price go into profit and reverse and go all the way back to that point.....just go look at what i said.
Make it as perfect as you can....
  • #92,620
  • Dec 19, 2018 9:03pm Dec 19, 2018 9:03pm
Also like I said before. Recognize steep up or down trends and try not to trade against the trend. RECOGNIZE the shape and similarity of REPEATING trend patterns. Price action. Trendlines. Support/Resistance. Combine that with this TMS system and you will be a happy man/woman.
Make it as perfect as you can....
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