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Trading Made Simple

  • #103,661
  • May 8, 2020 7:32pm May 8, 2020 7:32pm
Quoting eelfranz
Guys.... My point is lets keep the thread clean... If you see a post for someone looking for something or a different way you trade it... no problem but please PM them alone... thanks... Lets build this so we can help as many traders as possible because they all have money and time invested and they need to make money for their efforts. Starting out you should be 60-65% successful. Within 1 to two months you should be 70-80% successful.. IF... you follow the simple rules and simple exits... 3-6 months... 85% successful. Don't complicate it... keep...
Based on this OP' Post#495 above:

How do you pick the best trades and exclude the 'iffy ones' ?

How do you manage your trades ?

"
I never knownly take a draw back of 40-50 pips even on the 4hr. I generally exit at 10-15 pips to keep my profit and I'll re-enter when it turns back. If it happens when I'M SLEEPING... SO WHAT ... I never know about it... S/L at last HH or LL. It turns out in my favor most of the time. I lose about 2 trades out of 14-16 trades. I can live with that. I choose my trades carefully making sure they meet the entry rules spot on... and pass on the iffy ones and go hunt other charts.
"
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #103,662
  • May 8, 2020 7:53pm May 8, 2020 7:53pm
Reply to PMs received this week:

Q. How many currency pairs do I trade?

Q. How to I pick the best pairs setups and avoid over-trading?

Answer below:

Since 2019, I have 6 groups, adding SGD as another of my group.
I trade mostly medium to long term swings meaning I hold my trades for several weeks and according to the market type conditions.
The short term correlation has nothing to do with my pair selection.
Main reason why I have the currency pair in groups is to avoid over trading. Every week, I pick only one pair from each of the group and at any one time, I can have up to 5 pairs open at the same time period. This is to manage risk in the event any of the sudden volatility is any of the base/quote currency. As my account grows, I can trade more pairs and some from the same group when there are good trade potential and I can re-invest some of my banked-in profits.

There are exceptions during this year due to geopolitical, major economic events, etc. - Brexit, US-China trade disputes, Volatile Oil prices, COVID_19,... etc.
Look for opportunities when there is chaos.

Trading Currency Pairs – Six(6) Groups 2019

Group#1
AUDUSD
EURUSD
GBPUSD
USDCAD
NZDUSD
* USDCHF added to H4 swing trading during this CPVID-19 lockdown period.

Group#2
EURAUD
EURNZD
EURCAD
EURGBP ** use as hedging & recovery in my Brexit 2020 Trade Plan - EURUSD/GBPUSD

Group#3
GBPAUD
GBPNZD
GBPCAD

Group#4
USDJPY
AUDJPY
EURJPY
GBPJPY
*** SGDJPY - longer term trading

Group#5
AUDCAD
AUDNZD
NZDCAD

Group#6
AUDSGD
EURSGD
GBPSGD
USDSGD
NZDSGD

--------------------------------------------
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #103,663
  • May 8, 2020 8:29pm May 8, 2020 8:29pm
Reply to PMs received this week:

Q. where can I find somewhere a summarize of the methodology and tools used? ... there are almost 6000 pages it will take me ages to read it all.

Answer:

For all new members to this TMS thread, and you want to follow the trading journey of the OP eelfranz aka Big E in Forex factory, you will find the OP's indicators and templates links in his Post#1.
That was his last update in Aug 2011.

If you want a summary of the thread Introduction to Trading Made System and where to begin your learning journey, then go to this Post#102,591.

Have Fun during your learning journey!
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #103,664
  • May 8, 2020 8:51pm May 8, 2020 8:51pm
Reply to PMs received this week:

FAQ: Some of you could not get TMS_V19 EA to run properly and do not know why.

Answer:
Without providing any details of your problem in MT4 running expert advisor, I cannot help you.
If you to follow the installation and setup instructions in that Steve Hopwood thread then it will run without errors.
https://www.forexfactory.com/showthread.php?t=292301

Use that EA to help you look for trade setups according to your personal preferences in the technical setup conditions according to Post#261.

Your can use that EA to manage trades which you can open manually.

DO NOT run that TMS_V19 as a auto-trading robot and DO NOT expect 80 to 90% win rate.

Alternatives for trade managers EAs.

1) Multi-Purpose Trade Management EA ... MPTM by SteveHopwood.
https://www.forexfactory.com/showthread.php?t=89371

for his latest version of MPTM follow his post#1 to his SHF website. Goodluck!


2) THV CaveManager EA

Download the trade manager EA and pdf description from original thread / post by Caveman: Post# 18,455

User guide by FF member Lookleft Post# 58,004
I made a pdf for member hsn100.
CM parameter setting for HSN : Post#56,308
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #103,665
  • May 8, 2020 9:27pm May 8, 2020 9:27pm
Quoting emmanuel7788
Reply to PMs received this week: Q. How many currency pairs do I trade? Q. How to I pick the best pairs setups and avoid over-trading? Answer below: Since 2019, I have 6 groups, adding SGD as another of my group. I trade mostly medium to long term swings meaning I hold my trades for several weeks and according to the market type conditions. The short term correlation has nothing to do with my pair selection. Main reason why I have the currency pair in groups is to avoid over trading. Every week, I pick only one pair from each of the group and at...
May I ask why you treat it that complicated? What’s wrong with just trading one currency pair looking for let’s say only 5 trades per month on the smaller time frames and just execute 3 out of that 5 at 10 lots at a win.

If you can consistently just keep that 60% win rate on average then you would already make very good money most people would dream of.

I really don’t understand all that 0.01 lot swing trading over weeks or even longer trying to catch that huge trending move from the start to end scanning tons of charts executing hundreds of smaller trades at small position size, I mean for what?

You would just eliminate all that overtrading with making your own rule not to trade more than 5 times per month at a single entry exit.

Thats just one of the reasons I decided this week to finally ditch that stupid TDI indicator. I personally cant figure out any values of it giving tons of bad signals even on H4 where you still would have to make all that subjectivity filtering to get a reliable signal by the end, and shouldn’t it be the other way around? The indicator should only produce a signal if all that non sense is already filtered out in advance (btw I tried that TMS EA with all the settings, it doesn’t make anything easier at all to me).

Just my opinion.
  • #103,666
  • May 8, 2020 9:45pm May 8, 2020 9:45pm
Quoting lddd
{quote} Glad to see some feedback from you not purely focusing on the TDI :-) If you say „against the long term trend“ by giving the 5th May as the starting point, do i see it correct now that you look at the complete chart from left - right determining the 5th May to be the high following by a lower swing high on 6th not went lower on 7th May where price was sitting at time of the chart was posted and the signals after London open came in. So if i get it right based on that information once having the trend direction „easily“ identified by just...
"all these wicks up and down like you identified in hindsight "
Do I understand you correctly?
- When it is posted, any chart analyzing is done in hindsight.
- When you do chart analyzing in front of a monitor on a live current chart it is current uptodate information.
Sorry Iddd, to disappoint you, all chart analyzing is done in hindsight for the simply reason: You are looking at where price has been.
The only current accurate detail is the open active bar where price is doing the MACARENA.
----
As to Somobeast chart, here is how it played out.
Attached Image (click to enlarge)
Click to Enlarge Name: sluagter.PNG Size: 53 KB

Now about that remark of yours "most likely got slaughtered"
Can you please show readers where this "slaughtering" occured.
Attached Image (click to enlarge)
Click to Enlarge Name: ytytr.png Size: 342 KB
  • #103,667
  • May 8, 2020 10:00pm May 8, 2020 10:00pm
Quoting lddd
{quote} May I ask why you treat it that complicated? What’s wrong with just trading one currency pair looking for let’s say only 5 trades per month on the smaller time frames and just execute 3 out of that 5 at 10 lots at a win. /// Just my opinion.
A money management based strategy for a rule-based technical strategy may sound complicated but is its not once yoy know it and have mastered it and with the use of proper developed trading tools.

I have tried trading like the Op did risking 15% to 30% per trade with a $10k deposit.
That kind of high risk money management did not work with me.

I would rather not place 'all my eggs in one basket'.
It is not complicated once I learned how that would work and have done lots of live market practice for about 2 years. I know how that work trading a currency pool of 5 pairs in a pool. My focus is to win 3 lose 2, that 60%. I learned how to trade the market type conditions and not trade blindly green cross red. Therefore having a pool of 5 groups of currency pairs will generate enough trades per 20-trading days cycle. You wont find every week that you will have trades in a single pair in a group but you will find other trades in other groups.

Forget about trading M15 and H1. Failures are higher than trading H4 and Daily. I prefer to trade with less stress and enjoy the freedom in my lifestyle.

You want to trade 10 standard lots in one currency pair with a MT4 broker?
I trade that with my bank not with any MT4 broker.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #103,668
  • May 8, 2020 10:19pm May 8, 2020 10:19pm
Quoting lddd
{quote} ///. If you can consistently just keep that 60% win rate on average then you would already make very good money most people would dream of. ///Just my opinion.

Even with a CONSISTENT win rate of 60% on average it will not be profitable when the Average Winning Trade is 2.0% and the Average Losing Trade is 4.5% as example.

One must not expect trading TMS one single market / single currency pair on M15 will generate enough trades every day / week / month.

You can try GBPUSD M15 using Craig Harris Stochastics Method since you dropped the TDI. Craig is still trading. Dean went on his sabbatical and we do not know if he ever will return.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #103,669
  • May 8, 2020 10:23pm May 8, 2020 10:23pm
Quoting emmanuel7788
{quote} A money management based strategy for a rule-based technical strategy may sound complicated but is its not once yoy know it and have mastered it and with the use of proper developed trading tools. I have tried trading like the Op did risking 15% to 30% per trade with a $10k deposit. That kind of high risk money management did not work with me. I would rather not place 'all my eggs in one basket'. It is not complicated once I learned how that would work and have done lots of live market practice for about 2 years. I know how that work trading...
Emmanuel, can you show readers (even on a hindsight chart) why trading M15 and H1 has a higher failure rate then trading H4 and Daily.
  • #103,670
  • May 8, 2020 10:36pm May 8, 2020 10:36pm
Quoting Tekkies
{quote} "all these wicks up and down like you identified in hindsight " Do I understand you correctly? - When it is posted, any chart analyzing is done in hindsight. - When you do chart analyzing in front of a monitor on a live current chart it is current uptodate information. Sorry Iddd, to disappoint you, all chart analyzing is done in hindsight for the simply reason: You are looking at where price has been. The only current accurate detail is the open active bar where price is doing the MACARENA. ---- As to Somobeast chart,...

Here is another view learning from Big E in his old thread and also from the BigE full pdf examples.

Attached Image (click to enlarge)
Click to Enlarge Name: sabobeast post chart by Tekkies.png Size: 342 KB


" bulls make money, bears make money, ..... only the pigs get slaughtered.. for its bacon!"
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #103,671
  • Edited 11:06pm May 8, 2020 10:56pm | Edited 11:06pm
Quoting Tekkies
{quote} Emmanuel, can you show readers (even on a hindsight chart) why trading M15 and H1 has a higher failure rate then trading H4 and Daily.
Tekkies

You zoomed in to just two words "failure rate" ...
There is nothing wrong with having failures because we learn from our failures and work towards improvements.

That's an easy question to answer. I did show readers each week , ... week by week.

Now you can go back and read my posts from 2015 to 2017.

or

farther back -

you can go back and read from 2012 till 2014, on how to Improve your win rates with TMS-II and still following the basics what the OP shared in Post#261 for entry and exits.

https://www.forexfactory.com/showthr...5#post12386045

or

you can go back and look at 2018 and 2019 Myfxbook I posted here:

https://www.forexfactory.com/showthr...7#post12181577

https://www.forexfactory.com/showthr...6#post12318096

pay attention, I have a 3-years cycle...

I am in 2018~2020 cycle now and got hit by COVID-19.
see Post#103,664 above
https://www.forexfactory.com/showthr...6#post12928756
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #103,672
  • May 8, 2020 11:51pm May 8, 2020 11:51pm
Quoting emmanuel7788
{quote} Here is another view learning from Big E in his old thread and also from the BigE full pdf examples. {image} " bulls make money, bears make money, ..... only the pigs get slaughtered.. for its bacon!"
Here we go again.

As usually you will post anything to discredit TDI and post how you think readers should trade. Why do you ignore some and mostly all of what BigE has posted.
Notably fact is you like to use only those posts that support your way of trading.

Anyway, again you ignored TDI cross and posted against what BigE clearly stated:
#1...... I also use a Stochastics (8,3,3) indicator. It is ONLY used to confirm direction.
Take note BigE capitalize the word ONLY

Why are you doing, what you are doing Emmanuel?
Don't bother to reply, the reason has been stated already:
Realjumper:Post 96,001: He wants to be...he NEEDS to be the big man here in this thread
-----
Back to some detail.
Why make it so complicated. Keep it simple.
There is a reason why BigE posted:
#115 ....... A Normal entry is when green crosses red on the TDI (and you can actually see the green on the other side).
Attached Image (click to enlarge)
Click to Enlarge Name: foing.PNG Size: 27 KB
  • #103,673
  • May 9, 2020 12:00am May 9, 2020 12:00am
Quoting emmanuel7788
{quote} Tekkies You zoomed in to just two words "failure rate" ... There is nothing wrong with having failures because we learn from our failures and work towards improvements. That's an easy question to answer. I did show readers each week , ... week by week. Now you can go back and read my posts from 2015 to 2017. or farther back - you can go back and read from 2012 till 2014, on how to Improve your win rates with TMS-II and still following the basics what the OP shared in Post#261 for entry and exits. https://www.forexfactory.com/showthr...5#post12386045...
Typical response: GO AND READ.
WTF!!!!!
Read the question: why trading M15 and H1 has a higher failure rate then trading H4 and Daily.
  • #103,674
  • May 9, 2020 12:12am May 9, 2020 12:12am
Quoting Tekkies
{quote} Here we go again. As usually you will post anything to discredit TDI and post how you think readers should trade. Why do you ignore some and mostly all of what BigE has posted. Notably fact is you like to use only those posts that support your way of trading. Anyway, again you ignored TDI cross and posted against what BigE clearly stated: #1...... I also use a Stochastics (8,3,3) indicator. It is ONLY used to confirm direction. Take note BigE capitalize the word ONLY Why are you doing, what you are doing Emmanuel? ///
-----------------------
Here we go again. As usually you will post anything to discredit TDI and post how you think readers should trade. Why do you ignore some and mostly all of what BigE has posted. Notably fact is you like to use only those posts that support your way of trading.
------------------------

Tekkies

As usual you interpret my post in your biased mind that I discredit the TDI. I DO NOT discredit the TDI. I learned it and I know it has both strength and weakness because TDI is simply moving averages of the RSI(13) data. RSI is an oscillator and it is good in ranging market and not good when market is trending.
I do not ignore some or most of Big E posts. In fact I follow all his 1485 posts in Forex Factory and learned a lot more than you who limit yourself to just 463 posts in this TMS thread. What about tha BigE full pdf? Did you really read and stud that pdf compilation?

It is not about TDI cross. The angle/slope of the TDI Price Line green line is very important if you want to trade the reversal like Big E did and he can make his trade entries using APB/HA candle #1 and candle #2.

It's okay because your have not mastered the method yet. Therefore ...
"
Unless you mastered this method already... keep the questions or concerns coming. Post your Demo trades too.
Continue making Demo trades to build your confidence and study old charts where the TDI gives clean signals... it will pay you in spades... well, pips in our case...
"

The day will come when you have done enough demo trades and learned from all your failures, then only taking clean trades would be breeze.
Remember to read and study that BigE full pdf again.

Pay attention to the Stochastics Slope indicator used in Big E templates. He has 19 templates ...
When the Stochastics Slope shows it %K cross %D, then there is change in its direction but pay attention to the %K line, that the secret of Crai Harris Method and why Big E took his Stochastics Slope template and added the TDI.

See sabobeast post and his two charts. Two charts with different Stochastics.

EU

Attached Image (click to enlarge)
Click to Enlarge Name: samobeast EU M15 8-5-2020 6-47-07 am.png Size: 70 KB


GU

Attached Image (click to enlarge)
Click to Enlarge Name: samobeast GU M15 8-5-2020 6-47-49 am.png Size: 68 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #103,675
  • May 9, 2020 12:22am May 9, 2020 12:22am
Quoting Tekkies
{quote} {image}

Tekkies

--------------
Here we go again. ..... Back to some detail. Why make it so complicated. Keep it simple. There is a reason why BigE posted: #115 ....... A Normal entry is when green crosses red on the TDI (and you can actually see the green on the other side).
---------------

Your very nice example of a TDI failure in M15 if still have not learned. You chart shows the TDI had been repainted. The Price Action remains the same. Pat attention to the use of TMS WatchDog on samobeast EA chart and the timing of the bar.

Attached Image (click to enlarge)
Click to Enlarge Name: Tekkies post hindsight 9-5-2020 1-15-57 pm.png Size: 295 KB


see my post #103,672 above and chart comments below
https://www.forexfactory.com/showthr...1#post12928821


Attached Image (click to enlarge)
Click to Enlarge Name: sabobeast post chart by Tekkies.png Size: 342 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #103,676
  • May 9, 2020 12:31am May 9, 2020 12:31am
Quoting Tekkies
{quote} Typical response: GO AND READ. WTF!!!!! Read the question: why trading M15 and H1 has a higher failure rate then trading H4 and Daily.

Tekkies

You question was already answered:

here repeat for your to read again..

Tekkies

You zoomed in to just two words "failure rate" ...
There is nothing wrong with having failures because we learn from our failures and work towards improvements.

That's an easy question to answer. I did show readers each week , ... week by week.

Now you can go back and read my posts from 2015 to 2017.

or

farther back -

you can go back and read from 2012 till 2014, on how to Improve your win rates with TMS-II and still following the basics what the OP shared in Post#261 for entry and exits.

https://www.forexfactory.com/showthr...5#post12386045

or

you can go back and look at 2018 and 2019 Myfxbook I posted here:

https://www.forexfactory.com/showthr...7#post12181577

https://www.forexfactory.com/showthr...6#post12318096

pay attention, I have a 3-years cycle...

I am in 2018~2020 cycle now and got hit by COVID-19.
see Post#103,664 above
https://www.forexfactory.com/showthr...6#post12928756
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #103,677
  • May 9, 2020 12:37am May 9, 2020 12:37am
Quoting emmanuel7788
{quote} Tekkies -------------- Here we go again. ..... Back to some detail. Why make it so complicated. Keep it simple. There is a reason why BigE posted: #115 ....... A Normal entry is when green crosses red on the TDI (and you can actually see the green on the other side). --------------- Your very nice example of a TDI failure in M15 if still have not learned. You chart shows the TDI had been repainted. The Price Action remains the same. Pat attention to the use of TMS WatchDog on samobeast EA chart and the timing of the bar. {image} see my post...

Tekkies

and this brings us back to your post#73,461 where you provided us with wrong information .

Attached Image (click to enlarge)
Click to Enlarge Name: Tekkies post 73,461 wrong information.png Size: 502 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #103,678
  • May 9, 2020 12:38am May 9, 2020 12:38am
Quoting Tekkies
{quote} Two cents The difference is in a few lines of MQL4 programing TDI Red Green.mq4 (non repainting) for (i=limit-1;i>=0;i--) The -1 sets the counter to bar 1. Bar 1 is closed and red /green will not change TDI RealTime.mq4 (repainting) for(int i=limit; i>=0; i--) The -1 removed sets counter to bar 0. Bar O is open and is rising and falling with price action there for red /green will move up and down Both above mentioned indicators use the same iRSI and iMAOnArray values iRSI(NULL,0,RSI_Period,RSI_Price,i); iMAOnArray(RSI,0,RSISignal_Period,0,RSISignal_Mode,i);...

This post has wrong information.
Attached Image (click to enlarge)
Click to Enlarge Name: Tekkies post 73,461 wrong information.png Size: 502 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #103,679
  • May 9, 2020 1:12am May 9, 2020 1:12am
Quoting emmanuel7788
{quote} ----------------------- Here we go again. As usually you will post anything to discredit TDI and post how you think readers should trade. Why do you ignore some and mostly all of what BigE has posted. Notably fact is you like to use only those posts that support your way of trading. ------------------------ Tekkies As usual you interpret my post in your biased mind that I discredit the TDI. I DO NOT discredit the TDI. I learned it and I know it has both strength and weakness because TDI is simply moving averages of the RSI(13) data. RSI...
Sweet, nice long post with a lot of irrelevant explaining, with a big dose of what happened in Harris thread.

"I do not ignore some or most of Big E posts."
Really, why do you post diffrently to what BigE post in this thread: #1...... I also use a Stochastics (8,3,3) indicator. It is ONLY used to confirm direction.
Please,cut that bullshit, Emmanuel
---
As to demo account, the offer still stand Post 101,573
  • #103,680
  • May 9, 2020 1:30am May 9, 2020 1:30am
Quoting emmanuel7788
{quote} Tekkies -------------- Here we go again. ..... Back to some detail. Why make it so complicated. Keep it simple. There is a reason why BigE posted: #115 ....... A Normal entry is when green crosses red on the TDI (and you can actually see the green on the other side). --------------- Your very nice example of a TDI failure in M15 if still have not learned. You chart shows the TDI had been repainted. The Price Action remains the same. Pat attention to the use of TMS WatchDog on samobeast EA chart and the timing of the bar. {image} see my post...
"You chart shows the TDI had been repainted."

Make sure you post facts, not assumptions.
Attached Image (click to enlarge)
Click to Enlarge Name: should.PNG Size: 282 KB


Quoting emmanuel7788
{quote} This post has wrong information. {image}
How many times are you going to post that?
Anyway, here is a question for you:

Does the TDI red green repaint on a chart that is not refreshed?
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