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Trading Made Simple

  • #93,001
  • Jan 11, 2019 1:20am Jan 11, 2019 1:20am
Quoting AkronD
{quote} One of the BigE posts in the Craig Harris Stochastic method - BigE compares the use of the Stochastic and TDI - not sure which one exactly. Especially > 80 and < 20 and how the Stochastic can go flat in these areas but the TDI can continue to show strong momentum - potentially keeping you in the trade longer. One of the things he mentioned was the use of Stoch as only means of direction. If the Stochastic was turning over (not crossed), but the TDI had a strong Angle - would you not take the trade (given other parameters are favourable)?...

here is a classic reversal candle,

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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #93,002
  • Jan 11, 2019 1:25am Jan 11, 2019 1:25am
Quoting AkronD
{quote} That's interesting strategy - but he talks about not using Stop losses - instead he talks about DCA? Interesting strategy, i prefer Stop Losses.
Don't know about trading with out a stoploss.
Have found that some time SL stop a losing trade and some time that very same SL get taken out, price turn around, showing you the middle finger by going up why past the TP that was set for that order.
Using BE, which is just as bad.
The same thing happens. BE get taken out, price show you the middle finger and keep's going and going in the original direction with out your trade.
TP is even more worse.
How many trader's complain that price miss TP by one point and a once profitable trade ends in a loss.

It is just one of those method where you have to decide on your own merit's to use SL / BE / TP or not.
I don't know what is DCA
  • #93,003
  • Jan 11, 2019 1:43am Jan 11, 2019 1:43am
This one is for you Emmanual.
a Profitable trade based on BigE's simple rule. You asked how I apply Post#647. (Is that because you don't know how?)
Connect the black dots with this checklist:Post 84,947
You should have a chart like this when you are finish.Post 92,937
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  • #93,004
  • Jan 11, 2019 1:46am Jan 11, 2019 1:46am
Quoting Tekkies
{quote} If you are such a better trader Emmanuel why have you not started your own thread? This thread is a hinder to your vast exceptional experience because post#1 sort of force you to post chart's with BigE's TMS template. That alone musk your true potential because you can not post any chart's in violation of your own posts like this one: "Start posting trades charts using the same chart templates like the OP" After all you said that you have removed TDI from your chart's. You say BigE has removed TDI based on how you have read one post. BigE...

That post 2617 in May 2011 is exactly what he said.
<>
2scoops asked me a long time ago what would be the most beneficial to learning this method for higher success... The answer was simple... study old charts for set ups... now strip down everything on that chart at that point... trends, angles, S/R levels, News times, Stoch angle within the 20-80 lines..etc. Burn it into your memory... I spent 2 years doing that.... so what does that mean? It takes me 15 seconds to strip a chart down to nothing including the TDI & Stoch's. Taking clean trades is a breeze for me... why?
<>

Quoting eelfranz
A.. 2scoops asked me a long time ago what would be the most beneficial to learning this method for higher success... The answer was simple... study old charts for set ups... now strip down everything on that chart at that point... trends, angles, S/R levels, News times, Stoch angle within the 20-80 lines..etc. Burn it into your memory... I spent 2 years doing that.... so what does that mean? It takes me 15 seconds to strip a chart down to nothing including the TDI & Stoch's. Taking clean trades is a breeze for me... why? Read above... I can take...
If you had continue to read all the posts starting from Post#1 up to Post#12,912, you will know and probably understand why he did not show any training charts without the TDI and Stochastics. I was told he did mentioned in one of the skype group about a advance system but he stopped posting when he fell very ill. 10,000 hours of live trading experience will make that huge difference.

I know I am a much better trader today and that is not the reason to start a thread here in Forex Factory. If I start one, then it will be for advance traders who have evolved from the time Big E passed away. There are already a few small groups trading together on their own since 2013. These groups use their own skype, whatsapp, telegram, google, etc.
What Big E has shared is enough for anyone starting as a newbie to learn from him and develop on their own and at their own pace.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #93,005
  • Jan 11, 2019 1:50am Jan 11, 2019 1:50am
Quoting Tekkies
This one is for you Emmanual. a Profitable trade based on BigE's simple rule. You asked how I apply Post#647. (Is that because you don't know how?) Connect the black dots with this checklist:Post 84,947 You should have a chart like this when you are finish.Post 92,937 {image}

Very nice.... back to 0.1 lot buy.

Connecting black dots is your own stuff not Big E's.

Nothing said about Post#647.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #93,006
  • Jan 11, 2019 1:55am Jan 11, 2019 1:55am
Quoting Tekkies
{quote} Hi jmn It is what he said in the beginning of the video that I find similarity. - Every time I enter a trade the market switch direction on me. - Price is never right it is seeking always the right price. - History does not repeat it self. - How the so called guru's mislead member's and you get married to those lies. - Price can only go two direction up / down - Above the 20EMA the trend is up / below 20EMA the trend is down. - Trade in the direction of the D1 candle. - Trading is simple After I listened to those first 25 min it opened my...
Here's one for you Tekkies

"This bias may be at the root of all other biases. Yet being right has little to do with making money - Van K Tharp"

That's the problem with Trading made simple, you don't need to enter at the correct spot to make money. You only need to develop a EXIT system that can collect green pips on CLOSE of a position. I spend my time developing EA's backwards meaning I develop a smart exit strategy first, then find a strategy that can get me into a position for my EXIT strategy to work.

What Smart Exit strategy does this system offer ?
A green cross over red or a change of angle of the green line is just dumb. That is a lagging indicator telling you what you already know with no smart trading exits anywhere in sight.
Why do most traders thing the Entry has any bearing of being profitable over a long period.
Trading thin liquidity at the boundary of the charts
  • #93,007
  • Edited 8:43am Jan 11, 2019 1:56am | Edited 8:43am
Quoting my previous post: "I went long with EURUSD just now.........

A bit worried about stop loss. Should I move it lower?"


My stoploss got hit....

I should have moved it much lower at the red horizontal line.

If it gets hit, then most likely price would fall more.

Lesson=====If I could not tolerate such a big stop loss, I should have waited for a retest or not to trade.
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  • #93,008
  • Jan 11, 2019 1:59am Jan 11, 2019 1:59am
Quoting AkronD
{quote} That's interesting strategy - but he talks about not using Stop losses - instead he talks about DCA? Interesting strategy, i prefer Stop Losses.

Stop Loss is what you place in your terminal for your broker to see.... commonly known a hard stops.

there are other forms of stop loss which you can consider in your money management strategy.... 'soft stops' which your broker cannot see.

when you trade with multiple entries and you manage using average entry price of all open positions, this is where you use 'soft stop loss'

read carefully your broker' agreement fine print.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #93,009
  • Jan 11, 2019 2:04am Jan 11, 2019 2:04am
Quoting mtharwat
I went long with EURUSD just now. I was following the PA and the system I am trading. When I checked the TMS system, I found that conditions are met except perhaps for the definite cross of Stochastics. The latter however is sloping up and coming from a reasonable territory. We have a close above EMA 5 with shift 2, TDI cross. Ideally, one should wait for London Open (still 10 mins ATM). Some traders won't trade Friday and may be waiting for tomorrow's news. Any way, I like the position of the setup. I intend to keep the trade for couple of days....

good trade

fulfill Post#647 as your checklist conditions.

there is room for 3 to 8 candle swing!

When wanting to enter a TDI trade... take a moment first to observe basic 4x things... like:
1)How close am I to the previous high or lo
2)Am I in an uptrend or downtrend.. short & long term...
3)Am I in or close to a consolidation area
4)Are the previous candles small...
5)Look at the candles on the last reversal... big, little,what
6 How does the momentum look right now (12-2, 4-6)
7)Does Stoch's confirm the TDI signal
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #93,010
  • Jan 11, 2019 2:04am Jan 11, 2019 2:04am
Quoting emmanuel7788
{quote} That post 2617 in May 2011 is exactly what he said. <> 2scoops asked me a long time ago what would be the most beneficial to learning this method for higher success... The answer was simple... study old charts for set ups... now strip down everything on that chart at that point... trends, angles, S/R levels, News times, Stoch angle within the 20-80 lines..etc. Burn it into your memory... I spent 2 years doing that.... so what does that mean? It takes me 15 seconds to strip a chart down to nothing including the TDI & Stoch's. Taking clean...
You still relay only on one post. Where is additional post's or chart's to support your interpretation of that one post.

"What Big E has shared is enough for anyone starting as a newbie to learn from him and develop on their own and at their own pace."
Good, then we understand each other.
  • #93,011
  • Jan 11, 2019 2:07am Jan 11, 2019 2:07am
Quoting Tekkies
{quote} Don't know about trading with out a stoploss. Have found that some time SL stop a losing trade and some time that very same SL get taken out, price turn around, showing you the middle finger by going up why past the TP that was set for that order. Using BE, which is just as bad. The same thing happens. BE get taken out, price show you the middle finger and keep's going and going in the original direction with out your trade. TP is even more worse. How many trader's complain that price miss TP by one point and a once profitable trade ends...
DCA = Dollar Cost Averaging - the guy was talking about averaging your position down or up so your cost base reduces. I.e. if you believe the market has underpriced or overpriced something you might accumulate in the anticipation it will eventually reverse. But of course market can stay irrational longer than the depth of your pocket.
  • #93,012
  • Jan 11, 2019 2:17am Jan 11, 2019 2:17am
Quoting Tekkies
{quote} You still relay only on one post. Where is additional post's or chart's to support your interpretation of that one post. "What Big E has shared is enough for anyone starting as a newbie to learn from him and develop on their own and at their own pace." Good, then we understand each other.

No we don't understand each other. You only think you do but you still do not know me.

Read again:
If you had continue to read all the posts starting from Post#1 up to Post#12,912, you will know and probably understand why he did not show any training charts without the TDI and Stochastics. I was told he did mentioned in one of the skype group about a advance system but he stopped posting when he fell very ill. 10,000 hours of live trading experience will make that huge difference.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #93,013
  • Jan 11, 2019 2:28am Jan 11, 2019 2:28am
Quoting emmanuel7788
DE30 H1 trading Jan 10 London Open shakeout, better keep your money in your pocket. Stand aside. Keep It Simple: WAIT for the best setups like the OP always said. {image}

yesterday we had a shakeout when London Open.

Looks like today we have a repeat at the moment.
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What to do with the shakeout candle?
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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #93,014
  • Jan 11, 2019 2:34am Jan 11, 2019 2:34am
Quoting AkronD
{quote} DCA = Dollar Cost Averaging - the guy was talking about averaging your position down or up so your cost base reduces. I.e. if you believe the market has underpriced or overpriced something you might accumulate in the anticipation it will eventually reverse. But of course market can stay irrational longer than the depth of your pocket.
DCA is

One TMS old timer taught us in 2014 about this and we have implemented this in our TMS MEME trading. He could maintain 20 consecutive months 10% consistent profit.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #93,015
  • Jan 11, 2019 3:01am Jan 11, 2019 3:01am
Quoting RickM
{quote} Here's one for you Tekkies "This bias may be at the root of all other biases. Yet being right has little to do with making money - Van K Tharp" That's the problem with Trading made simple, you don't need to enter at the correct spot to make money. You only need to develop a EXIT system that can collect green pips on CLOSE of a position. I spend my time developing EA's backwards meaning I develop a smart exit strategy first, then find a strategy that can get me into a position for my EXIT strategy to work. What Smart Exit strategy does this...
Hi Rick.
Let see what you have posted.
- you don't need to enter at the correct spot to make money.
Are you serious Rick. Please show how that is done on any chart. (Live chart, first bar on the right hand-side).
If that is true Rick then why do so many trader's lose all their money? 95% is the number given.
(You need to explain in more detail because I only know what BigE has posted.)
- You only need to develop a EXIT system that can collect green pips on CLOSE of a position.
a EXIT strategy won't help you much when every trade is a sell order in a strong uptrend. Don't see how you can collect pips when the trade is wrong from the start.
You still need a GOOD entry point provide by a method to have a slight change to better the odds into your favor.
- That is a lagging indicator......... That is your opinion.
-Why do most traders thing the Entry has any bearing of being profitable over a long period
You mean "think". Would not know have not asked them.
-----------
Yes. you can make money by placing a order on any spot on a chart. One of two things will happen.
- the order will go into profit
- a big account can with stand a huge draw down and price will move entry into profit when it change direction after xxxx min, hours, day's, month's or years.
(wonder what the swap fee will be after a year)
  • #93,016
  • Jan 11, 2019 3:12am Jan 11, 2019 3:12am
Quoting AkronD
{quote} DCA = Dollar Cost Averaging - the guy was talking about averaging your position down or up so your cost base reduces. I.e. if you believe the market has underpriced or overpriced something you might accumulate in the anticipation it will eventually reverse. But of course market can stay irrational longer than the depth of your pocket.
That I understand. It is the same as scale in
Start with 1.00 > 0.90 > 0.80 > 0.70.........
He use it the other way round. 1.00 < 1.10 < 1.20 < 1.30 (Zone recovery)
That is not good. Somewhere the account is going to run out of money when price just don't want to move into profit to close all trades.
  • #93,017
  • Edited 4:01am Jan 11, 2019 3:34am | Edited 4:01am
Quoting RickM
I spend my time developing EA's backwards meaning I develop a smart exit strategy first, then find a strategy that can get me into a position for my EXIT strategy to work.
Hello @RickM -- I think this is *very* interesting and innovative, and I'm curious to hear more. Good for you -- you think "out-of-the-box" and approach your trading from a unique perspective. That is extremely cool (and rare).

One reason we focus on Entries is because that is what is happening now. And though indicators may lag (some more than others), at least we can see the data, and the trends our indicators detect usually persist long enough to allow entries that are frequently "good enough".

So -- how does one go about developing a smart Exit strategy? I mean -- wouldn't you need to have advance knowledge of a data pattern that hasn't yet arrived? With what degree of certainty do you know your Exit condition even exists?

I've now used TDI enough and compared its signals with other indicators to know its signals correlate well-enough with other indicators -- that is, it's certainly good enough to use within the context of the TMS system. As with most indicators, it is the additional details and clues your brain processes that will ultimately determine the success of each trade. The TDI crossing alone is not an Entry signal -- it is simply a "heads-up" that you may want to take a closer look at the current data.

Thanks...
  • #93,018
  • Jan 11, 2019 4:05am Jan 11, 2019 4:05am
Quoting Tekkies
{quote} That I understand. It is the same as scale in Start with 1.00 > 0.90 > 0.80 > 0.70......... He use it the other way round. 1.00 < 1.10 < 1.20 < 1.30 (Zone recovery) That is not good. Somewhere the account is going to run out of money when price just don't want to move into profit to close all trades.
Scale in accumulating position even when its going in your favour.

The idea of Dollar Cost Averaging is when its going against your trade.

e.g. you bought USDJPY, price fell and then you bought some more. Now you have a overall Position which has a smaller cost base than the first trade.

I have done this for equities when i have really believed in a project etc. Takes Balls of Steel.

It was interesting to see he was giving this advice to traders when they are fairly new.
  • #93,019
  • Jan 11, 2019 4:18am Jan 11, 2019 4:18am
Quoting robots4me
{quote} it is the additional details and clues your brain processes that will ultimately determine the success of each trade. The TDI crossing alone is not an Entry signal -- it is simply a "heads-up" that you may want to take a closer look at the current data. Thanks...

May I also add this:

When some traders use indicators/systems, they find that they enter late and next trade they use PA only. Then when they see that divergence was the only reason that would have saved them from the PA setup that made them loose, they go back to indicators. But when divergence and indis cross give them false signal, they go back to PA. And the cycle repeats itself over and over. "I have been there".

Some traders might find the best way is to combine both and wait for the right setup that satisfies both indicators/system and PA. Even if this means skipping good trades.

It reminds me with Exercise Machines vs Free weights. It is the same debate as indis vs PA.

"It is simply a heads-up"... Very well said.
  • #93,020
  • Jan 11, 2019 4:37am Jan 11, 2019 4:37am
Quoting emmanuel7788
{quote} good trade fulfill Post#647 as your checklist conditions. there is room for 3 to 8 candle swing! When wanting to enter a TDI trade... take a moment first to observe basic 4x things... like: 1)How close am I to the previous high or lo 2)Am I in an uptrend or downtrend.. short & long term... 3)Am I in or close to a consolidation area 4)Are the previous candles small... 5)Look at the candles on the last reversal... big, little,what 6 How does the momentum look right now (12-2, 4-6) 7)Does Stoch's confirm the TDI signal
HEllo emmanuel7788,

Thanks for commenting on my chart and the checklist.

May I ask about the stochastics condition pls,

In the EUR USD trade I posted, at the time of entring the trade, stochastic has not "fully" crossed and was lower than 50 level.

so
1- Stochastics is generally better when crossing and coming from oversold/overbought but with TMS system: Is it a necessity to come from extreme levels? How about bouncing off 50 level or slightly below/over for longs/shorts?
2- I understand that TMS system requires full cross of stochastics. So this means that my trade-according to TMS- was a tad pre-mature.
3-Does TMS require the H4 candle to completely form after the cross or is ok while forming?

thanks again,
Regards
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