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

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Trading Made Simple

  • #105,441
  • Jun 13, 2020 7:09am Jun 13, 2020 7:09am
Quoting emmanuel7788
{quote} then forget about tick charts on MT4 and MT5. you can learn only using on tick charts in realtime markets with real volume. not offline charts.
There is no „real“ volume in forex because is a decentralized market. The Volume data and indicators based on volume is not reliable therefor I guess, at best you would get the volume from your own retail broker and I wouldn’t want to bet on that...
  • #105,442
  • Jun 13, 2020 7:10am Jun 13, 2020 7:10am
For those that believe that "Deep Practice" is the secret sauce to "masterdom", reread all of post #105,435, then do your own research to find the studies behind this information and then decide for yourself if "Deep Practice" is likely to get you any further than 30% of the pieces to achieving "Master" abilities.

I did not make this up. You can check for yourself.
only about 20-25% of deliberate practice hours can predict the acquired skill level. The other 75-80% come from other factors than deliberate practice.
To free Gazans of Hamas, use whatever it takes.
  • #105,443
  • Jun 13, 2020 7:12am Jun 13, 2020 7:12am
10,000 hours

For newbies:

start with 1,000 hours and repeat that 10 times.

30 years ago, I was a newbie and I was hungry for knowledge because I wanted to retire rich.

What do newbies to TMS need to learn first?

Many of you know that I started in FF learning from other threads.
One is the James16 Chart Thread and the other is Long Term Stress Free Trading.
https://www.forexfactory.com/showthread.php?t=2331
https://www.forexfactory.com/showthread.php?t=155459


These 3 most important things you need to learn and master. These will add knowledge to how you interpret Big E's Post#647 and it is that simple.

Attached Image (click to enlarge)
Click to Enlarge Name: PATH OF LEARNING.png Size: 237 KB


Look for the PASR pdf in this thread.

Follow and complete THE PATH by strat. It is worth a few hundred hours.
I give credit when credit is due, to strat who started his old thread. IMHO, he is an unorthodox teacher sound rather tough and uncompromising but many grow to like him. I do like him and I would not want to ruffle his feathers which I did at times.

Have Fun and Enjoy your trading the journey.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #105,444
  • Jun 13, 2020 7:15am Jun 13, 2020 7:15am
Quoting lddd
{quote} There is no „real“ volume in forex because is a decentralized market. The Volume data and indicators based on volume is not reliable therefor I guess, at best you would get the volume from your own retail broker and I wouldn’t want to bet on that...
then trade those markets where you have centralised exchange and you can see the real volume.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #105,445
  • Jun 13, 2020 7:19am Jun 13, 2020 7:19am
Quoting lddd
{quote} Market Reply is what i am looking for, I guess last price selected for the historical tick data instead of bid and ask won’t provide the real spread then? About order execution, I will see once having the market replay running on the right data. I don’t need to test any automated procedures or indicators like that just instant market order for the price available at that time/tick for the historical data, pending order would be great but not sure if possible on market reply with NinjaTrader.
Yes, you can place pending orders (limit orders) in Market Replay.
Yes, you need both the Bid and Ask data to have the spread. Better to include all three Bid, Ask, and Last.
To free Gazans of Hamas, use whatever it takes.
  • #105,446
  • Jun 13, 2020 7:22am Jun 13, 2020 7:22am
Quoting lddd
{quote} There is no „real“ volume in forex because is a decentralized market. The Volume data and indicators based on volume is not reliable therefor I guess, at best you would get the volume from your own retail broker and I wouldn’t want to bet on that...
Your broker also does not have "real" volume data. He may have volume data that he accumulates from his clients, but that is not "real" volume data of the market.

Tick counts have been shown in other markets to be a "good enough" emulation of real volume data.
To free Gazans of Hamas, use whatever it takes.
  • #105,447
  • Jun 13, 2020 7:25am Jun 13, 2020 7:25am
Quoting lddd
Only shame it’s demo money ;-) {image}

but you have $100,000 real money to trade, right?

then diversify your trading and trade different systems different markets.

you can grow $50K to $400K in 3 years risking $25K when you have a proven money management trading strategy with proper trade plans.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #105,448
  • Jun 13, 2020 7:30am Jun 13, 2020 7:30am
When you hear words such as , "What do newcomers need to learn first?", your credibility alarm should be sounding! How was the list of" things to learn first" determined? Through a rigorous scientific study? Through one person's experience, the writer's? Through one person's experience that is being interpreted and passed along by the writer? Through a collection of thoughts that the writer has decided sound good but have never actually been tested and verified as useful/worthwhile?
To free Gazans of Hamas, use whatever it takes.
  • #105,449
  • Jun 13, 2020 7:46am Jun 13, 2020 7:46am
Quoting DrDave
{quote} Your broker also does not have "real" volume data. He may have volume data that he accumulates from his clients, but that is not "real" volume data of the market. Tick counts have been shown in other markets to be a "good enough" emulation of real volume data.

times a question with real volume you can act better
  • #105,450
  • Jun 13, 2020 8:06am Jun 13, 2020 8:06am
Quoting DrDave
{quote} Yes, you can place pending orders (limit orders) in Market Replay. Yes, you need both the Bid and Ask data to have the spread. Better to include all three Bid, Ask, and Last.
Thanks a lot Dave for your kind help once again, have a nice weekend.
  • #105,451
  • Jun 13, 2020 8:07am Jun 13, 2020 8:07am
Quoting DrDave
{quote} Your broker also does not have "real" volume data. He may have volume data that he accumulates from his clients, but that is not "real" volume data of the market. Tick counts have been shown in other markets to be a "good enough" emulation of real volume data.
Thats what i did mean, yes.
  • #105,452
  • Jun 13, 2020 8:20am Jun 13, 2020 8:20am
Quoting emmanuel7788
{quote} but you have $100,000 real money to trade, right? then diversify your trading and trade different systems different markets. you can grow $50K to $400K in 3 years risking $25K when you have a proven money management trading strategy with proper trade plans.
I am doing fine. Trading only the first few minutes of London Open now for 5-10 Pips maximum, close everything down after that and wait for next day, that’s it. To much time wasted already with trying to get that perfect indicator strategy working for me.

Life to short to watch charts all day long.
  • #105,453
  • Edited 9:05am Jun 13, 2020 8:54am | Edited 9:05am
Quoting lddd
{quote} To much time wasted already with trying to get that perfect indicator strategy working for me. Life to short to watch charts all day long.
Their is no Holy Grail Mate, we have to make it one and stick with it for Rest of our Trading Carreer
Regret is Brutal
  • #105,454
  • Jun 13, 2020 11:08am Jun 13, 2020 11:08am
Please, where can I find this indicator?
Attached Image
  • #105,455
  • Jun 13, 2020 12:06pm Jun 13, 2020 12:06pm
once upon a time ... "safest entries" by Big E, it's in his old thread (Commercial Content) before he made the jump back to Trading System.

Quoting eelfranz
Ok... everyone is looking for the safest entries possible while trading. The chart below gives you another option and works on all of our methods. The only difference is the indicators... Note I removed Stochastics and added 1) the Accelerator Oscillator and, 2) the moving average of oscillators. Note that when both oscillators cross their 0.0 lines at the same time (MARKED BY THE RED VERTICLE LINES) it's a pretty safe trade... see chart. This is showing momentum... I'm sure some will prefer this set up... and of course I've included the TDI (always)....
Attached Image (click to enlarge)
Click to Enlarge Name: Big E #2737 safest entries.png Size: 219 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #105,456
  • Jun 13, 2020 3:38pm Jun 13, 2020 3:38pm
emmanuel7788 The first thing I learned when I started trading in 2012 was candlestick formations. I read three or four books on it and to this day I still go back and refresh my memory by reviewing them from time to time. That along with Support and Resistance can give you a good grasp as to how the market will move within the drawn boundaries of the S&R lines.

I keep going back to the first 20 or so pages of this thread to learn more about the method folks here are talking about. I was wondering what package you use that gives you data on several currencies at once? I have been so accustomed to looking at one pair every day EUR/USA

I come from the George Smith from Seattle FOREX trading made E-Z course. I tend to break even every week and its frustrating. I am trying to learn more about the method talked about on this thread. But since I am considered a newbie by the FF many of my posts pass moderation for some reason. I am trying to interact with some folks in here but it is difficult when the last 4 posts I have written are not posted.
  • #105,457
  • Edited 8:36pm Jun 13, 2020 8:25pm | Edited 8:36pm
Quoting tobyzambetti
emmanuel7788 The first thing I learned when I started trading in 2012 was candlestick formations. I read three or four books on it and to this day I still go back and refresh my memory by reviewing them from time to time. That along with Support and Resistance can give you a good grasp as to how the market will move within the drawn boundaries of the S&R lines. I keep going back to the first 20 or so pages of this thread to learn more about the method folks here are talking about. I was wondering...

Hi Toby

FF has its policy to review posts made by new members before the posts are shown publicly. After the first few posts ( it used to be the first 5 posts) , this pre-review by the moderator will no longer required. Keep on posting and discuss any trading topic you have.

I am sure George Smith has his background and taught many traders in his courses and you would benefit from his teachings, the rest depends on you and your own work going forward. You can apply what you have learned when you trade TMS 5-Method. Those candlestick reading skills will be very useful but do not overwhelm yourself with too many of the candlesticks patterns. I only use a few no more than my ten fingers can count. Just a few which are most commonly seen on TMS 5-Method chart template. I look at the price Bar Chart over the APB/HA candles.

Attached is a pdf compiled by another member erl
Candlestick Patterns (PASR) {click to download}

Edit.
Another pdf by erl
Candlestick Pattern for TMS { click to download}

Post some charts and we can discuss further. I am sure there are reasons for those breakeven trades and usually with the exit strategy and trade management. If you follow the OP post using TDI green line conditions for exit, then you will experience lots of exits when trading the lower timeframes like H1 and M15 but not so when trading H4 and D1.

Good trading in the new week.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #105,458
  • Jun 13, 2020 8:31pm Jun 13, 2020 8:31pm
Quoting mohamedzidan
Please, where can I find this indicator? {image}
Hi Mohamed

That is not an indicator. It is an Expert Advisor which has multiple functions and lots of features ... it is like a Swiss Army Knife.
You can use this as a trading tool to help you while you look for trade setups and get the alerts. It can also help you manage your trades using its Trade Management functions.

***Important to note is Do Not run TMS_V19 like those 24x7 auto-trading robot or you will your money.

Attached Image (click to enlarge)
Click to Enlarge Name: TMS_V19 EA screenshot.png Size: 231 KB


Follow these post to find out more and to get started:

https://www.forexfactory.com/showthr...9#post12857199

https://www.forexfactory.com/showthr...2#post12859772

https://www.forexfactory.com/showthr...3#post12861463
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #105,459
  • Jun 13, 2020 11:04pm Jun 13, 2020 11:04pm
Quoting Tekkies
{quote} It is still a backlash regardless to whom it is aimed. You regard BigE as an honest man and that 85% win rate is a fact because BigE said so. Then why is it not possible for a newbie who started 2012, not to achieve since then 85% win? Also what proof do you have that any of the old timers did not become rich with TMS. (They simply choose not to have their echo stroked by posting about it.) ------ Then this will also be a fact: I wanted a method that was simple, worked on all timeframes, simple rules, few indicators.... that when looking...
The biggest reason a noobie struggle with this method IMO, is the lack of knowledge regarding Price Action.
  • #105,460
  • Jun 14, 2020 12:37am Jun 14, 2020 12:37am
emmanuel7788 Thank you for the PDF's I appreciate the advice and will post some trades next week showing my method.
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