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Trading Made Simple

  • #92,901
  • Jan 7, 2019 5:20pm Jan 7, 2019 5:20pm
Quoting AkronD
Hows USDCHF looking for a TMS/TDI entry? Agreeance on M15/H1, PA - candles getting larger, Potential Resistance level 20 pips away - Chance for a 3:1 RR?

The agreement I see is H4 with D1 and with W1.

the sell trigger price level was 0.9842 with SL 0.9877. Today 4H swing SL is now 0.9848.

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I trade EURUSD the mirror cousin.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #92,902
  • Edited 7:26pm Jan 7, 2019 7:11pm | Edited 7:26pm
Quoting Mint-V
{quote} Dear Tekkies, Please help to understand. Please guide one system which I can learn and test and trade. Whole tread is very confusing. Looking support from you. Thanks
Mint, Brendan
Go to Babypips and do the quizzes: https://www.babypips.com/quizzes
First quizzes, then study the questions which you have failed.
Download: TMS BigE full.pdf, TDI Cross.pdf and start to learn what every post really mean in those pdf's. BigE gave a set of rules Post#647 and scattered through out his post's how to use those rules. You have to find them yourself.
- Make your own study notes: example Post 84,888, Post 78,030
Do google search to clarify any question. Don't relay on member's to spoon-feed you. That is counter productive and a easy way out.
- Create your own check list : example:Post 84,947
- Use the indicators from Post#25 or the indicators from this Post 64,386
Open a micro account and fund it with money you can not afford to lose. Chose a low leverage like 1:50 or 1:100. Start with 0.01 lot size.
- The reason why you should learn from the start on a live account is mainly to avoid accumulating bad habit's.
Real money will ensure you make sure that every trade enter will result in a profitable trade. You would ask yourself many times: "Why did I place a trade there, what was I thinking, how stupid am I really"
With demo money you will enter a trade and when it ends in a loss no harm has been done. Just open a other demo account
Not sure if a trade will end in profit. Draw a trend line from where the trade would have been entered and exit. Save it in a template to study over the weekend.
-----
As to what time frames or currencies to trade. Can't and won't give you any advice. Start with anyone you like. As you progress in your trading career you will start to use the time frame and currencies which you prefer.
----
You asked one system to learn, test, trade. Can't give you one. TMS might not be what you want. David's Pivot Trading might be the one you seek or Spud's Predictive MTF Stochastics is more suitable to your personality or that one or this one.
It always come down to this:
- How much time and effort are you going to put into a system to make it work for you.
- Do you have the discipline and self-control to follow the rules regardless any circumstances.
- Have you got total control over the inner demons in you like FEAR, GREED, CONCENTRATION (lack of)
- Are you willing to stay with the method after a serious losing streak or system hop at the first margin call.
(many more reasons can be given to stay or leave a method, can't list them all)

Quoting Brendan
If I never try I will never know Look forward to...
Read above

Everyday follow the rule's of the method you have made yourself.
Test yourself with this check list Post 84,947 and the black dot's.
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  • #92,903
  • Jan 7, 2019 10:33pm Jan 7, 2019 10:33pm
TMS Monitor PDT 10PM (6AM London)

No H4 setups.

GBPUSD has potential for a Price Action bounce 10EMA. Must WAIT!

Must watch that last week's swing high and BRN 1.2800 ... resistance.

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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #92,904
  • Jan 7, 2019 11:02pm Jan 7, 2019 11:02pm
Quoting emmanuel7788
{quote} The agreement I see is H4 with D1 and with W1. the sell trigger price level was 0.9842 with SL 0.9877. Today 4H swing SL is now 0.9848. {image} I trade EURUSD the mirror cousin.
It continued to travel for +26 pips. About 1:3 RR.
  • #92,905
  • Jan 7, 2019 11:33pm Jan 7, 2019 11:33pm
Hi guys

What do you think about AUD/USD?
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  • #92,906
  • Jan 8, 2019 4:18am Jan 8, 2019 4:18am
Quoting Tuffsy
Hi guys What do you think about AUD/USD? {image}
Hi,

Something to observe and not to say it is a good or bad setup; price is bouncing off weekly/monthly support. Is price currently now making a bearish pre-breakout or will continue more bullishness? I would say wait for more candles on H4/Daily.
  • #92,907
  • Jan 8, 2019 5:26am Jan 8, 2019 5:26am
Quoting emmanuel7788
{quote} @Petru, If we can make it a 100% mechanical system, the emotion will still be there but will be of lesser impact. The emotion of investors and traders are usually attached to the money they put into the markets. Talking about TMS, the OP Big E was a discretionary rule-based trader. He traded mostly H4 and he did not take all the TDI signals but he has his own discretionary rules. He has discretionary rules for entry based on how he sees price action using the APB/HA candles and the price momentum which he confirms with the TDI Red Green...
The 1 million dollars question still remains: Can a 100% mechanical system be profitable?

Petru
  • #92,908
  • Jan 8, 2019 5:43am Jan 8, 2019 5:43am
Quoting Petru00
{quote} The 1 million dollars question still remains: Can a 100% mechanical system be profitable? Petru
I run quite a few expert advisors...... and I am in touch with other people using experts

Manual trading is far more profitable
Mechanical system can be profitable if monitored and revised continually
  • #92,909
  • Jan 8, 2019 11:38am Jan 8, 2019 11:38am
Quoting Petru00
{quote} The 1 million dollars question still remains: Can a 100% mechanical system be profitable? Petru
Although - i dont have experience in writing Algos - i tend to agree, markets always tend to shift. I think most hedge funds probably have humans monitoring the algos in the market to ensure of that they don't go too much into the red. I guess these guys would be onto it if there was a 100% Holy Grail system.

In my own personal quest for the grail - i've now understood that its better the grail doesn't exist - it allows us to have a career in trading.
  • #92,910
  • Jan 8, 2019 11:44am Jan 8, 2019 11:44am
Quoting emmanuel7788
{quote} The agreement I see is H4 with D1 and with W1. the sell trigger price level was 0.9842 with SL 0.9877. Today 4H swing SL is now 0.9848. {image} I trade EURUSD the mirror cousin.


I looked back on my charts after seeing this post. the entry was on the 4 hour charts at 1 hour after tokyo open. correct?

The stop was about 30 pips, for a 4 hour entry and not behind a swing high??

please explain the logic in the stop placement
  • #92,911
  • Jan 8, 2019 1:18pm Jan 8, 2019 1:18pm
Quoting emmanuel7788
{quote} The agreement I see is H4 with D1 and with W1. the sell trigger price level was 0.9842 with SL 0.9877. Today 4H swing SL is now 0.9848. {image} I trade EURUSD the mirror cousin.


Where price is right now on h4, YL is forming support and price is a bit above it, but if the pair can 123 below the support then i am sensing a good trade opportunity and potentially a large drop for the pair

am i right or am i right?
  • #92,912
  • Jan 8, 2019 2:36pm Jan 8, 2019 2:36pm
Quoting kain775
{quote} Where price is right now on h4, YL is forming support and price is a bit above it, but if the pair can 123 below the support then i am sensing a good trade opportunity and potentially a large drop for the pair am i right or am i right?
- Do not plan a trade based on (maybe this will happen, maybe this, maybe nothing at all)
- Trade what you see (only if you have a signal based on your own rules giving zero room to, maybe this maybe that, maybe...)

Hope it helps

Personally i reduced trading to a minimum for the last monthes based on any "wishes/maybes". Markets are enormous choppy and hard to read since all that brexit talks and trade war with us/china.
  • #92,913
  • Jan 8, 2019 2:46pm Jan 8, 2019 2:46pm
Quoting lddd
{quote} - Do not plan a trade based on (maybe this will happen, maybe this, maybe nothing at all) - Trade what you see (only if you have a signal based on your own rules giving zero room to, maybe this maybe that, maybe...) Hope it helps

I can see a good potential opportunity, That's why mt4 has price alerts

I've set one, and if price crosses it and closes with enough momentum, plus i get a signal during trading hours .. I'm going in
  • #92,914
  • Jan 8, 2019 2:49pm Jan 8, 2019 2:49pm
Quoting kain775
{quote} I can see a good potential opportunity, That's why mt4 has price alerts I've set one, and if price crosses it and closes with enough momentum, plus i get a signal during trading hours .. I'm going in
Well if this is part of your routine and it helps, keep going. It did sound a bit like you want to play a guessing game based on a dozens "maybe" variables...
  • #92,915
  • Jan 8, 2019 4:26pm Jan 8, 2019 4:26pm
Quoting kain775
{quote} Where price is right now on h4, YL is forming support and price is a bit above it, but if the pair can 123 below the support then i am sensing a good trade opportunity and potentially a large drop for the pair am i right or am i right?

USDCHF Jan 09 H4

If you sell now Tokyo Open, the stop loss remains at 0.9848 using 2 x ATR(10) H4 and the current market conditions.... sideways ranging.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #92,916
  • Jan 8, 2019 4:32pm Jan 8, 2019 4:32pm
Quoting Petru00
{quote} The 1 million dollars question still remains: Can a 100% mechanical system be profitable? Petru
Question : Can a 100% mechanical system be profitable?
Answer: NO.

A trading system is lot more than just mechanical entry and exit.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #92,917
  • Jan 8, 2019 4:33pm Jan 8, 2019 4:33pm
Quoting Blaiserboy
{quote} I run quite a few expert advisors...... and I am in touch with other people using experts Manual trading is far more profitable Mechanical system can be profitable if monitored and revised continually

Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #92,918
  • Jan 8, 2019 11:33pm Jan 8, 2019 11:33pm
Relating to what Kain has posted and Iddd's replayed.
Use TMS and TDI crossover there is no need to speculated about entering a trade, follow the simple rules.
Post#647 with S/R will put the odds in your favor about 80% of the time. Post 495
If it does not then do your homework again.
--------
Download: TMS BigE full.pdf, TDI Cross.pdf and start to learn what every post really mean in those pdf's. BigE gave a set of rules Post#647 and scattered through out his post's how to use those rules. You have to find them yourself.
- Make your own study notes: example Post 84,888, Post 78,030
Do google search to clarify any question. Don't relay on member's to spoon-feed you. That is counter productive and a easy way out.
- Create your own check list : example:Post 84,947
-------
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  • #92,919
  • Jan 8, 2019 11:57pm Jan 8, 2019 11:57pm
Quoting kain775
{quote} Where price is right now on h4, YL is forming support and price is a bit above it, but if the pair can 123 below the support then i am sensing a good trade opportunity and potentially a large drop for the pair am i right or am i right?
How I keep it simple

when trading the H4 chart timeframe,

start the week by first looking at the W1 charts,
if the W1 shows sideways market, check the range. Avoid trading narrow range sideways.

if W1 is trending, then move on and look at D1,
if D1 is trending in the same direction as W1, then trade H4 in the direction of both the W1 and D1.
If D1 is in a 'correction' / retracement against the W1 trend, WAIT.... for D1 reversal

A good example is my USDCAD trade this week.

Attached Image
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #92,920
  • Jan 9, 2019 12:04am Jan 9, 2019 12:04am
Quoting emmanuel7788
{quote} {quote} USDCAD Week 02 Jan 08 update01: {image} Today we shall see if the market will retrace into the body of the APB/HA. If it does, I have limits orders waiting in that region. The initial SL remains at 200 pips above and also above yesterday APB/HA High, use that SL as the Risk 'R' for Position Sizing.
USDCAD Week 02 Jan 09 update (pre-London Open):

Today is BoC Rate Statement and it looks like forecast has been revised back to 1.75%...(unchanged).

With 5 open positions and good floating profit,

I will take profit soon and not give back too much to the market.

Will need a new game plan in view of the BoC annoucement later.
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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
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