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Trading Made Simple the right way, and other trading lessons 334 replies

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Trading Made Simple system follower - Thanks to eelfranz 9 replies

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Trading Made Simple(r)

  • #5,421
  • May 14, 2020 8:05am May 14, 2020 8:05am
Quoting MalvernTrust
Hello fellow Traders, Can EURCAD be a Short entry on H4 ? on D1 its not qualified, still a buy. I know its a repetitive and boring question. But very important and would like to know how others doing. Robernet mentioned once H4 changed trend we can look opportunities on H1 if D1 is unclear. RH suggested we need to read the Charts on H4/D1 same, if both says same then we need to enter trade. But sometimes he trades with some exemptions based on his vast trading experiences. Please suggest me how we can handle. I added one indicator ( Blue/Red dotted...
Hi Malvern

Just to clarify, I mentioned that when I get a signal on the 4 hr I would flip the 1 hr to check the PMO indicator to see if the momentum has changed in my favor. The indicator you attached is a supply and demand indicator. Saying that, you will see price is at a supply zone and destined to go south, the market maker is playing his game but showed his hand with a price action formation called M, indicating the possibility of price moving south. Price crossed the 21 ema which is a good sign and is currently retesting the 21 ema. After the retest of the 21 ema and should price action indicate south, it could be a great 140 pip trade. Also note that CAD relative performance is currently stronger that EUR.

Please remember the system gives a good signal and can be a good confirmation system but you cannot just trade it blindly, I gave you some good pointers, absorb and explore.

Trade safe
Trade Without Fear
  • #5,422
  • May 14, 2020 8:09am May 14, 2020 8:09am
Quoting tes724
{quote} Here is my setup. Using the TMSr from 1st post, have just moved the text to the right instead of the original position. Then i use the Trading Information panel from MQL5 (free indicator) to show stats and i use it to set lot size. I use the 2% of balance as lot size. The trading panel is also from MQL5. Just easier to see positions. {image}
Trading panel and other Trading lot size info is class.... any idea where I can find the mt4 version please?
The more you learn, the more you see
  • #5,423
  • May 14, 2020 8:35am May 14, 2020 8:35am
Hey guys, I just discovered this thread recently. I was a follower of TMS a few years ago but due to how many variations of it were created, I kind of did my own thing for a while. I've been catching up on this thread, and I'm really happy that a lot of people are finding success with the strategy. I'm now doing a few trades on my own.

I do have a few questions. I don't know if I missed the answer at some point because the thread is somewhat long now, so I might have missed it while skimming.

1. I'm using RH's template right now, with the smTMMS Oscillator. Do the same rules still apply for this oscillator as the first post, or are there some differences I need to know about?

2. I'm still considering the best exit strategy for this one. My default is to exit when the candle changes color after I'm in profit. I usually just adjust my trade with the candles until I'm breakeven before I let it run. What is your go-to exit strategy?

So far I have a few JPY trades ongoing, and I've just put most of them in breakeven. I was also a victim of the fakeouts a few days back so still a negative. Hopefully, things turn around. Thanks for your insights guys!
  • #5,424
  • May 14, 2020 9:44am May 14, 2020 9:44am
This is my only trade this week, still holding it, tomorrow I will decide what to do with it.
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  • #5,425
  • May 14, 2020 10:26am May 14, 2020 10:26am
Quoting Rubernet
{quote} Hi Malvern Just to clarify, I mentioned that when I get a signal on the 4 hr I would flip the 1 hr to check the PMO indicator to see if the momentum has changed in my favor. The indicator you attached is a supply and demand indicator. Saying that, you will see price is at a supply zone and destined to go south, the market maker is playing his game but showed his hand with a price action formation called M, indicating the possibility of price moving south. Price crossed the 21 ema which is a good sign and is currently retesting the 21 ema....
Thanks very much Rubernet for your suggestions, I should need to read all properties in the Swinman's latest version. I do not know where to read the instructions. Its not in the first page.

If that indicator I attached doesn't make any value then I will discard that one and keep the RH/Swinman's template.
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  • #5,426
  • May 14, 2020 10:55am May 14, 2020 10:55am
Hi All

Great thread and method, thank you.

Would it be possible to add the push notifications to the smTMMS indicator since setting up emails on MT4 is past my ability, tried a hundred times but not luck.

Cheers
  • #5,427
  • May 14, 2020 1:20pm May 14, 2020 1:20pm
Quoting len82
Hi All Great thread and method, thank you. Would it be possible to add the push notifications to the smTMMS indicator since setting up emails on MT4 is past my ability, tried a hundred times but not luck. Cheers
Its enabled already, make sure you configured Push notifications on your MT4 properties. https://www.metatrader4.com/en/tradi..._notifications
  • #5,428
  • May 14, 2020 1:28pm May 14, 2020 1:28pm
Quoting MalvernTrust
{quote} Thanks very much Rubernet for your suggestions, I should need to read all properties in the Swinman's latest version. I do not know where to read the instructions. Its not in the first page. If that indicator I attached doesn't make any value then I will discard that one and keep the RH/Swinman's template. {image} {image}
Hi Malvern

Did you take the EC trade.
Trade Without Fear
  • #5,429
  • May 14, 2020 1:37pm May 14, 2020 1:37pm
Quoting Rubernet
{quote} Hi Malvern Did you take the EC trade.
I dint not take because of D/H4, I could have flipped to H1 but I didnt , probably next time.

Do you think that Indicator (......) is not a value addition ?
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  • #5,430
  • Edited 2:16pm May 14, 2020 1:42pm | Edited 2:16pm
My objective is to include that indicator is deciding a trade by TMS(r) - (consider All RH and Swingman's Indicators) on the current chart H4 , without considering D1. For D1 trend rely on the attached indicator. May be a short cut. Just back test for few pairs and let me know.
  • #5,431
  • May 14, 2020 2:31pm May 14, 2020 2:31pm
Quoting MalvernTrust
{quote} I dint not take because of D/H4, I could have flipped to H1 but I didnt , probably next time. Do you think that Indicator (......) is not a value addition ? {image}
The indicator can add value to your trading, if you know how to use it, supply and demand, it is the core of my trading, just look a EC now, lots of education on You tube.

Trade safe
Trade Without Fear
  • #5,432
  • May 14, 2020 2:32pm May 14, 2020 2:32pm
Quoting Rubernet
{quote} The indicator can add value to your trading, if you know how to use it, supply and demand, it is the core of my trading, just look a EC now, lots of education on You tube. Trade safe
Okay, Thank you Rubernet, I will try to learn.
  • #5,433
  • May 14, 2020 8:50pm May 14, 2020 8:50pm
Quoting seyitony
Hello Fellas, Can someone please show me where I can read up the rules on how to use the smTMMS oscillator_v7.2. Your time is highly appreciated. Thank you. {image}
Hi there:

Pretty short thread here. Makes good reading if you are using Swingman's Tools.

https://www.forexfactory.com/showthr...9#post12925399

Best,
Krismitt
  • #5,434
  • May 15, 2020 4:11am May 15, 2020 4:11am
got beaten this week with -9.8% of my equity here is my trading history

or do you guys also trade the m15 to compensate for the losses in the h4 trading when the market is ranging?

thank you just sharing
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  • #5,435
  • May 15, 2020 4:44am May 15, 2020 4:44am
Quoting warsito123
got beaten this week with -9.8% of my equity here is my trading history or do you guys also trade the m15 to compensate for the losses in the h4 trading when the market is ranging? thank you just sharing {image}
All those trades are 4H or mixed TFs? What's you MM strategy? What SL you uses?
Whether you think you can, or you think you can't,you're right. H.F.
  • #5,436
  • May 15, 2020 4:51am May 15, 2020 4:51am
Quoting warsito123
got beaten this week with -9.8% of my equity here is my trading history or do you guys also trade the m15 to compensate for the losses in the h4 trading when the market is ranging? thank you just sharing {image}
Hi, maybe if you explained your entries people would be able to help. I had a look at one for the NZDCHF buy at 15.5 4am and not sure what you saw to enter? (Ignore the red line) Cheers.
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  • #5,437
  • May 15, 2020 5:05am May 15, 2020 5:05am
Hi

Does anyone use a HA colour change(on candle close) trade manger/exit ea with this strategy?

Cheers
  • #5,438
  • May 15, 2020 5:06am May 15, 2020 5:06am
Calling it a week there. Just over +5%. The two AUDCHF trades aren’t this system. The EURUSD loss was silly as it was overnight and had I moved SL as I normally do would’ve been BE and the EURAUD loss today was just me being silly and chasing a trade. Overall, not a bad first week on live.
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  • #5,439
  • May 15, 2020 6:23am May 15, 2020 6:23am
Quoting james.trades
{quote} Hi, maybe if you explained your entries people would be able to help. I had a look at one for the NZDCHF buy at 15.5 4am and not sure what you saw to enter? (Ignore the red line) Cheers. {image}
hi i enter the NZD CHF at the open of the new candles immediately because there is a cross between the HMA line and the MA5 also there is a crossover on the lower window eventhough if using the RSI line its still not yet crossing the 50 lines...

i always set my lot size depends on my SL
i set my risk to fixed 2% each trade and set my TP to 4% so its 1:2 eventhough its usually not many times hit the TP
i set my SL 2-3 candles high or low of previous candle so i usually dont get much hit by SL
  • #5,440
  • May 15, 2020 7:49am May 15, 2020 7:49am
Quoting warsito123
{quote} hi i enter the NZD CHF at the open of the new candles immediately because there is a cross between the HMA line and the MA5 also there is a crossover on the lower window eventhough if using the RSI line its still not yet crossing the 50 lines... i always set my lot size depends on my SL i set my risk to fixed 2% each trade and set my TP to 4% so its 1:2 eventhough its usually not many times hit the TP i set my SL 2-3 candles high or low of previous candle so i usually dont get much hit by SL
Last week was choppy but I've seen it much worse, so consider max risk of 1% for the best setups (0.5% for the average ones, maybe less for the weakest).
Look at recent price action to determine the strength of the setup.
I've never been a big fan of fixed R/R, as with this strategy its all about catching the 'big fish', I have had some > 10R trades in the past. The big trades pay for the batch of loosing ones. Just my 2 cents...
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