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Trading Made Simple

  • #122,521
  • Jul 16, 2021 4:31am Jul 16, 2021 4:31am
Quoting hasib
{quote} Hi emm you know phx62 Traded harmonics and structure. here is his post. "I decided a while back to quit posting on FF but I wanted to post one more time just to thank Damian for his insight, his instruction and explanations. I have been a successful trader for several years with a working trading plan but always felt there was more I needed to know about price movement, harmonics and structure. I found this thread a couple of weeks ago while studying some of Scott Carney's work and have watched all the recent videos by Damian. I appreciate...

Yes!.

Many of us knew many thing about him.

We were followers of dcginc and his protrader network.
Phx62 traded basic harmonics AB=CD was common in some of f his posts. He has quite a few very good price action techniques we all learned from.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #122,522
  • Jul 16, 2021 4:45am Jul 16, 2021 4:45am
Quoting hasib
In this M5 chart, can you see H1 candle high low and close, H4 candle high low and close. If you closely observe you will see, every end of one hour price just go reverse. we are within the the range of first H4. Second H4 was fail to create new low. if we don't observe those things no matter which indicator we use will lose money, This market is ready to stop out indicator entry. Some of the indicator, what we believe good if you test them In EA you will see those indicator has 30 to 35% win rate. Most of the EA trader like manual traders fail...

today when NY bell we are looking at the 35000 level and see if make a new high ( above 35096 ?) and if it collapses thereafter.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #122,523
  • Jul 16, 2021 4:48am Jul 16, 2021 4:48am
Quoting emmanuel7788
{quote} those are telegram groups of active TMS traders and they invite me to join them and help answer some of their questions when they are trading live. there are several groups trading from different locations. If you want to trade as a group, you can start your own telegram group.
those are telegram groups of active TMS traders and they invite me to join them and help answer some of their questions when they are trading live. there are several groups trading from different locations. If you want to trade as a group, you can start your own telegram group.

TRANSLATION: There are plenty of Telegram groups, and probably a few that base their systems around the 5-method. However, I don't actually have membership in any of them, and don't even know of any specifically.

So I tell you to open your own Telegram group because I have absolutely no links to share.

(It's all part of my subterfuge to fool the naive.)
To free Gazans of Hamas, use whatever it takes.
  • #122,524
  • Jul 16, 2021 5:23am Jul 16, 2021 5:23am
Quoting mrs474n
Hi all, last year I began to read this beatiful thread and BigE amazing time saving H4 TDI method. Now I read the last sites here and ask myself if the main theme of the beginning is here at the moment or if things have changed? If yes is it because H4 method didnt work or because you have added some parameter to his strategy? I am very happy to be on board again and try to catch some good setups paired the strategy and my knowledge. Have a nice weekend all!
Nice to see that you began reading the thread from the beginning. Only the posts from #1 until BigE died are of much value. Shortly after BigE died, people started posting that they added this indicator, that EA, added a piece from another method, until the percentage of posts connected to the 5-method has fallen to, at best, 20%, and all of the other posts that amount to noise and clutter amount to about 80%.

Of course, there are still a few good posts made that target the 5-method only, but you have to waste a lot of your time wading through a lot of the clutter to find them. Really, your learning time is best spent on the early posts in the thread, not the posts from the last 8 years or so, and especially not the posts from the last 2 years.
To free Gazans of Hamas, use whatever it takes.
  • #122,525
  • Jul 16, 2021 5:24am Jul 16, 2021 5:24am
Quoting T4Trade
{quote} why doesnt he trade anymore?
Because he lost his way.
To free Gazans of Hamas, use whatever it takes.
  • #122,526
  • Jul 16, 2021 5:35am Jul 16, 2021 5:35am
Quoting emmanuel7788
{quote} "Had to break out Big E's gold plated wheelbarrow to carry all the pips today" Phx62 - TMS all time top trader ... and he uses an EA THV CaveManager too and make lot more pips to .... He trade like a sniper and pick his target carefully and the EA will manage the trade Exits and also can push TP to the maximum using Preceding TP setting in THV Cavemanager. Study his charts and learn EVERYTHING. He follow simple and basic price action and the HA candles. {image}
LOL. Has to bring up a post from 6 YEARS ago to try to make a point that is supposed to be relevant to toady? RFLMAO!

Phx62 hasn't posted since November, 2016.

Phx62 - TMS all time top trader
More hilarious nonsense! Absolutely no data are available to be able to determine who are the "TMS top traders", let alone THE top trader! Vincent, you need to move to writing advertising and marketing material, because you shine at misleading the naïve and gullible.
To free Gazans of Hamas, use whatever it takes.
  • #122,527
  • Jul 16, 2021 5:41am Jul 16, 2021 5:41am
Quoting hasib
Trade the trend continuations. Within a single chart you can Do MTF analysis. {image}
Trade the trend continuations.
You've finally seen the light!
Attached Image
Keep going on this path and you should like the results.

Within a single chart you can Do MTF analysis.
Although one CAN do MTF analysis from a single chart, it is really much easier if multiple charts are used.
To free Gazans of Hamas, use whatever it takes.
  • #122,528
  • Jul 16, 2021 5:47am Jul 16, 2021 5:47am
Quoting mrs474n
{quote} Hi, did BigE use this EA to take out the best of each trade or to manage it? I think it is very useful than isnt it. Does anyone know which times pacific he meant? My H4 candles appear here in germany at 8am (London open) / 12am / and his 6am pacific was mine 4pm (ny open) where all is closed. Do you guys think closing at 4pm is too late because of NY opening and volatility?
did BigE use this EA to take out the best of each trade or to manage it?
Neither.

I suspect that you have not yet read all of BigE's posts, because if you had, surely you would recall that he said he does not want EAs and does not want them discussed in this thread.
To free Gazans of Hamas, use whatever it takes.
  • #122,529
  • Jul 16, 2021 6:40am Jul 16, 2021 6:40am
Quoting emmanuel7788
GU Jul 16 H1 Frankfurt Open trade: - M15 momentum entry, quick 10 pips. {image}
GU Jul 16 H1 trading:

When the market sideways narrow range Big E' 4hr swing trading will not work well.

When we know the market is sideways narrow range as what TMS_V19 Information EA will show us. It is time to trade like a sniper taking buy and sell with good TIMING.


Attached Image (click to enlarge)
Click to Enlarge Name: GU Jul 16 V19 H4 sideways 16-7-2021 7-30-25 pm.png Size: 73 KB


THV CaveManager trade manager EA will do the trade exits for us. Out job becomes easier as we focus our attention to pull the trigger with perfect TIMED entries!.

Attached Image (click to enlarge)
Click to Enlarge Name: GU Jul 16 trading narrow range sideways market 16-7-2021 7-32-36 pm.png Size: 297 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #122,530
  • Jul 16, 2021 7:13am Jul 16, 2021 7:13am
Quoting mrs474n
{quote} Hi, did BigE use this EA to take out the best of each trade or to manage it? I think it is very useful than isnt it. Does anyone know which times pacific he meant? My H4 candles appear here in germany at 8am (London open) / 12am / and his 6am pacific was mine 4pm (ny open) where all is closed. Do you guys think closing at 4pm is too late because of NY opening and volatility?
BigE did not use EA.

regarding trade management, I don’t see the point of using EA. Simply because each trade should be different to maximise odds and profit depending on market condition and volatility.

For me the step-by-step management is so simple.

1. Upon trade open, set SLTP
1b. When price goes in profit zone for defined pips (can set alert), trail SL to BE+
2. No need to monitor trade anymore, but do as you please.

It is my habit to set alerts for price moving very near my SLTP. But since I trust my analysis, it is not necessary.

Lastly, when you can have win rate (assume no trail SL) >60% and ensure RR>1 to open trades, you actually don’t need to take partial profit to be profitable.

That is why BigE was having least trade management. I also keep it simple set-and-forget so I can have time to look for trades and do other things.

trade well

Attached Image (click to enlarge)
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  • #122,531
  • Jul 16, 2021 7:19am Jul 16, 2021 7:19am
Quoting tommydoginti
{quote} BigE did not use EA. regarding trade management, I don’t see the point of using EA. Simply because each trade should be different to maximise odds and profit depending on market condition and volatility. For me the step-by-step management is so simple. 1. Upon trade open, set SLTP 1b. When price goes in profit zone for defined pips (can set alert), trail SL to BE+ 2. No need to monitor trade anymore, but do as you please. It is my habit to set alerts for price moving very near my SLTP. But since I trust my analysis, it is not necessary....
For the last example

SLTP set at trade open

Then just trail SL to BE at 1.3819, takes 15seconds

Then just let trade run to TP, >5R


If you use EA to take partial TP at 10pips,
1) such as waste for your correct analysis
2) your other part got Stopped out at BE because it is trailed too soon. Price hadn’t move to next structure

I would spend that 15 seconds for much more profit in a single trade, so I actually save time by needing to spend less time looking for trades and do something else
  • #122,532
  • Jul 16, 2021 7:28am Jul 16, 2021 7:28am
Quoting emmanuel7788
{quote} today when NY bell we are looking at the 35000 level and see if make a new high ( above 35096 ?) and if it collapses thereafter.
yes, You and I both know there is weekly fibo pivot 61.8% in 35096 price could move lower there is a possibility,
Also if we look at daily chart we can see price is ready to move lower.
But I trade what I see not what could happen or should happen. if price start to move lower I will see it. and I will trade it.
MA provides the market's current direction and strength.
  • #122,533
  • Jul 16, 2021 7:47am Jul 16, 2021 7:47am
Quoting DrDave
{quote} Trade the trend continuations. You've finally seen the light!{image} Keep going on this path and you should like the results. Within a single chart you can Do MTF analysis. Although one CAN do MTF analysis from a single chart, it is really much easier if multiple charts are used.
Light is volatility and expected volatility, upcoming volatility.
Based on volitility and market conditions, we put our stop and take profit. if we use fixed stop all the time we will see lot of trade hit stop with out any reason.
Difficult part in trading us30 is volatility, Because of volitility I love this market again of lack of volitility and certain shift of volitility make the market little difficult.
That is why I started using adx again.
MA provides the market's current direction and strength.
  • #122,534
  • Jul 16, 2021 8:54am Jul 16, 2021 8:54am
Quoting mrs474n
{quote} Hi, did BigE use this EA to take out the best of each trade or to manage it? I think it is very useful than isnt it. Does anyone know which times pacific he meant? My H4 candles appear here in germany at 8am (London open) / 12am / and his 6am pacific was mine 4pm (ny open) where all is closed. Do you guys think closing at 4pm is too late because of NY opening and volatility?
Hr mrs474n,

maybe this is broker specific. I trade with IG Markets and my H4 Candle starts at 9 am German Time (which is 8 am London Time and therefore London Open). 8 am German Time is Frankfurt Open.

Best regards
Haendlerin
Never give up!!
  • #122,535
  • Jul 16, 2021 9:18am Jul 16, 2021 9:18am
Quoting emmanuel7788
{quote} today when NY bell we are looking at the 35000 level and see if make a new high ( above 35096 ?) and if it collapses thereafter.
Your quite right Us news come out positive,
price move lower, seems like price don't wanted to move lower, but price move lower.
what are the reason you call this move?
MA provides the market's current direction and strength.
  • #122,536
  • Jul 16, 2021 9:23am Jul 16, 2021 9:23am
Quoting tommydoginti
regarding trade management, I don’t see the point of using EA.
this excludes that

Quoting tommydoginti
1. Upon trade open, set SLTP 1b. When price goes in profit zone for defined pips (can set alert), trail SL to BE+ 2. No need to monitor trade anymore, but do as you please.

If you are using strict rules why not to use EA to place the order? Why not to use EA to manage the position? For trailing stop for example?
Observer effect
  • #122,537
  • Jul 16, 2021 9:40am Jul 16, 2021 9:40am
we are in Distributions according to wyckoff theory.
Theoretically we can expect this down move is coming in the daily chart.

Even if we think it is re-accumulations we can expect this down move.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_2.png Size: 33 KB


H4 chart I can see this
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_3.png Size: 34 KB
MA provides the market's current direction and strength.
  • #122,538
  • Edited 10:06am Jul 16, 2021 9:54am | Edited 10:06am
Quoting ryuryu
{quote} this excludes that {quote} If you are using strict rules why not to use EA to place the order? Why not to use EA to manage the position? For trailing stop for example?
Hi Ryu,

I have another account running EA auto trades.
For that strategy, it is a “if....then...” straightforward logic with regression of volatility for SLTP.

That can be coded into auto trade as the rules are A>B... and SLTP quantifiable with equations.

However, TMS is different.

First, SLTP in pips is different in every trade. Not all the trades I would trail stop loss depending on trade plan. If trail, it is also different in each trade, sometimes it is triggered at 30% TP level, sometimes 57% etc. Because those are determined with price levels.

Second, Not every trades are analysed the same. Discretionary systems have a set of rules which is more complicated. For example, if I plan to trade spike reversal, there are parameters considered which are different from planning a sideway market reversal.

Third, some rules are not easy to code. Before I practiced TMS, I discussed with another FF member to code EA alert for divergence + candlestick pattern (not fractal, like 5-30 bar long).
For example, if you look at a chart, you can almost immediately identify double tops and bottoms like in <5 seconds. Now try to code an EA that can intelligently compensate a wick higher than another peak; a brief consolidation in between, etc.

So now, with the TMS rules, a person can very quickly analyse the chart. As mentioned, there is only 1 optional step to trail SL to BE, which can be aided by an (EA) alert to set off when price reaching certain level, and it takes 15seconds.

Yes maybe an EA can be coded. But then I can imagine in every trade I need to change its settings. I don’t see this has any benefit in terms of “less manual” to use EA.

lastly, EAs with static settings (eg 10pips then trail SL) wastes a lot of potential profits and ultimately you will have to put more effort in looking for more trades. The oppotunity cost of developing and/or using an EA is too high.


I started with algo trading, so I know the shortcoming of EA and when it should or should not be applied.

when you can trade TMS, you will literally trade like breeze. It takes little time to do analysis and execution. It would be your skill level to pick the right trade. Quality over quantity

trade well and have a nice weekend
  • #122,539
  • Jul 16, 2021 11:38am Jul 16, 2021 11:38am
Inserted Video
MA provides the market's current direction and strength.
  • #122,540
  • Jul 16, 2021 11:49am Jul 16, 2021 11:49am
Quoting tommydoginti
{quote} Hi Ryu, I have another account running EA auto trades. For that strategy, it is a “if....then...” straightforward logic with regression of volatility for SLTP. That can be coded into auto trade as the rules are A>B... and SLTP quantifiable with equations. However, TMS is different. First, SLTP in pips is different in every trade. Not all the trades I would trail stop loss depending on trade plan. If trail, it is also different in each trade, sometimes it is triggered at 30% TP level, sometimes 57% etc. Because those are determined with price...

One more thing and that is for me. I use phone to trade so has no limit in time and location.

Setting alerts can be done on mobile TradingView app. It is built in function to send email once price reaches the milestone profit level. I got the notification on my phone and trail SL.

So on top of the opportunity cost of EA, convenience is also a plus.
To me I wouldn’t mind sparing 15 seconds in exchange of more profit in real money.

The beauty of EA auto trade is auto entry and exit. But for Trading Made Simple, EA is not really reduce manual effort, rather is reducing profitability.

FYI, the GU buy upon fake out was done when I was at the leisure and sport fair in HK Expo in the afternoon.

Attached Image (click to enlarge)
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