Trading Made Simple

How many traders will say no to 425 points of potential profit?

That's a bit of an unfair question because the 425 pips is viewed in hindsight. But just looking at the bar before the one that you marked, check the long upper wick plus the close near its low.

Check your moving averages.

Unfair question because of hindsight??
- There was and is a reason why BigE posted to study old TDI crossovers.

Go back on that very same chart and you will see a couple of small bars do lead to >XXX points<
(True, they all so lead to losses, so do big bars.)

-------
Little humor:
Painted a bullseye target on my back for one of the most famous sentence in this thread "Cherry picking setups" will be posted.

In fact, his 5-Method was taken from another trading system which I had know long time ago.

Sure, right, uh-huh. Whatever you say ...

Seems a bit odd that the 5-method, developed by BigE around 2010 or so, was ALLEGEDLY taken from a system that YOU knew "a long time ago", yet you fail miserably at trading it! LOL. So, thanks for confirming that you are a world record abysmal learner!! Without even considering how many years BEFORE BigE presented the 5-method you already (allegedly) knew the system that the 5-method was based on, here it is 10 years later and you JUST RECENTLY have been able to achieve the BEGINNER'S 65% success rate! ROFLMAO!!!

@Tekkies All the insults you I throw at me you only make people laugh more at you me when they see that after 10 years of struggling with the 5-method, it is only recently that I have been able to achieve the beginner's 65% success rate.

Maybe we should ask Vincent himself where did Tommy posted those MT4 Account Summary he is referring to.

In one of his many delusional worlds, no doubt!!

An update for anyone interested, the AUD/NZD traded flat and I closed it out just above breakeven, the EUR/JPY trade I am trailing until it stops me out nice 30+ pip move.

Emm old post is gold, Here is one of old gold.

Wags read it, Your mentor Don't learn from EMM that is why he can't teach you and you lost 50% in a day.
I recommend you to read Emm Old post. You will learn many things that you don't learn in pivot trading thread.

Read what emm said here, You have to be honest to become a good trader. You have to accept that you lose more than 50% in a day, that was your trading skill problem. Forget Davit, for few months, trade your own method.


10 HABITS OF SUCCESSFUL TRADERS

Are the numbers in your trading account lower than you’d like them to be? Don’t worry too much if you are struggling in the beginning; everybody does, some for longer than others. If you want to accelerate your progress toward success, though, you can start mimicking the behaviors of successful traders now. A lot of that has to do with how you conduct yourself as a trader, and not necessarily your market expertise. You can control your own behavior, even if you cannot control the market. So acting like a successful trader can be a great first step to becoming one. Here are 10 habits you should get into if you want to trade like the pros.

1. Keep a journal.
You should always keep track of your successes and your failures. The most successful traders keep very detailed logs which not only say whether they won or lost their trades, but also what was going on at the time and what circumstances may have caused the win or loss. They look back frequently at their journals and see if they can find patterns that will help them turn more losses into wins in the future.

2. Use tools like rollover and early closure.
Do you ignore the useful tools your broker provides you? If so, you are an average trader. But here is some news for you: average traders are not winners. They end up losing, sooner or later (most of them sooner). The most successful traders are the ones who strive for control wherever they can get it, even if that involves more time and effort. Rollover and early closure allow you to choose when you exit your trade. When you exit can be every bit as important as when you enter for successful results.
Look for other useful tools as well which can help you to control your trades from the outset. Do you see something called “Option Builder” on your platform? You can specify your own expiry time in advance using this type of trade. That is an optimal way to approach your trading. Your broker also may provide you with economic calendars, video tutorials, and other helpful resources.

3. Keep a balanced schedule and lifestyle.
There are three common mistakes traders make when they work on their trading schedules. They may not trade enough, making trading their last priority, which means they will never get anywhere. Or they may trade all the time, forsaking other priorities and obligations like eating and sleeping, socializing, or doing their day jobs. This will also lead to disaster. A third mistake is not having a schedule at all, and trading randomly or erratically. Successful traders have organized schedules which allow them to maintain a healthy and balanced lifestyle.

4. Test your trading methods.
Before going live, you should always backtest and then demo test your trading methods. Anytime you make a change to a method, you should test it first, and then trade it with real money only after you have proven to yourself that it works. Doing this can save you a ton of money, and keep you in the game. You do not have to leave the business of trading entirely up to chance.

5. Treat trading like a business.
That leads me to another trait of winning traders, and that is treating trading like a business and not a hobby or a game. There is nothing wrong with trading for fun, but winners are those who trade like it is a business, complete with business plans, daily routines, schedules, and obligations. Self-discipline and seriousness will get you much farther in the long run than a single lucky trade every will, no matter how big that winner is. Make trading a business, and you will do well. Click here for 4 Ideas for Developing Discipline

6. Be honest with yourself and others.
Accountability is a very important habit to have. If you are in the habit of deceiving yourself about trading or anything else in your life, it is time to get honest. Even self-deceit in areas unrelated to trading can eventually start transferring to your trading, and then you will have a major problem. Successful traders admit their mistakes. They cultivate a sense of humility without losing their self-esteem. In this way, they are able to see the problems they need to fix and correct them.

7. Adapt to change.
When life throws you a curve ball, what is your typical reaction? For a lot of us, panic is the result. As a trader, you are going to be catching a lot of curve balls, and that requires you to be fast and adaptable. You have to expect the unexpected. And when it comes, you need to be willing to do what it takes to move forward, even if that means testing changes to your trading method or changing something about your personal approach to trading.

8. Never stop learning.
Great traders know that the markets are constantly adjusting and transforming, and that nothing ever stays the same forever. Because of this, they never rest on their laurels. They constantly are reading up on trading, testing out new techniques, and improving their game. This is one of the single best traits you can cultivate as you become successful. It is what will keep you there. Check out the Price Action Technique

9. Communicate with other traders.
Another important habit to build is communication. If you typically isolate yourself in your trading, you are cutting off access to some of the best trading resources out there: other people. Of course, a lot of traders probably are not much smarter than you (or may be nowhere near as smart as you), but you will find plenty of other people on a level with you who can share what they know. How do you recognize these traders? You will notice they have some or all of these good trading habits that I am discussing. You will find them honest and dedicated. Join a community today!

10. Be generous.
This may sound intangible, even counterintuitive, but generosity can help you to build wealth. How? When you trade binary options and start meeting others in the trading community, you will quickly realize how many traders are willing to help each other out. The only reason there are people out there willing to share their methods and stories with you is because they are generous. And that is why you should be the same. What goes around comes back stronger, as the saying goes. When you share what you know, you will be contributing positively to a community which can support your trading and contribute to your success. You will also probably feel pretty good about it too.
All of these different patterns of behavior, whether intangible or otherwise, may be difficult to develop at first. But eventually they will become second nature to you as you practice them. That is why they are good habits. Sometimes new traders make the mistake of believing that some people are born as honest, disciplined workers and others are not. But that is rarely the case. Almost everybody has to build up these character traits from relatively weak foundations. Others have done it, and are now trading successfully, and you can too.
But what about all the technical aspects of trading successfully? That is the beauty of developing good habits. When you become dedicated and start treating trading like a business, the rest will eventually follow if you stay determined and focused. Your honestly and discipline will lead you away from trading mistakes and help you to unearth the secrets of success.

Here is Emm Conclusions about pivot, I did not read this before, I come to the same conclusions with my trading experience.
Pivot trading is Gambling, You will never see any very big trader use pivot but you will see and read many many big traders use ma in their trading. I can give you name after name. But Idiots love to gambling.

Here is EMM post-

Hi Folks,

My answers to Islandfx questions which I think can help many TMS Newbie traders here.

Questions:
Q. Does Support & Resistance work?
NO.
S&R does not work without a proper understanding of how the market works. The market is made up of buyers and sellers.
There are short term support and resistance.
There are medium term support and resistance.
There are long term support and resistance.
The market creates these support and resistance.
When the buying stops, selling creates resistance.
In the opposite, when the selling stops, buying creates support.
What we need to know is to sell when there is selling and to buy when there is buying.
TMS long term traders will buy when there is buying activities, they will buy more when there are more buying activities in the short and medium buying, hence the term buy the dips.
The opposite is sell the rallies, long term traders sell when there is selling activities, they will sell more when there are more selling activities in the short and medium term selling.

Q. Are Pivots worth using?
NO.
After trading with pivots for a few years, I have come to the conclusion that pivots do not fit in this TMS 5-Method trading methodology.
There are too many different types and ways in which the pivots are calculated. There are different pivots and its derivative S&R levels due to different start hour in the day, different start of week and different start of the month.
Newbies who believe that the use of pivots with the TDI will give them an edge over the market are forex gamblers.

There are better methods to use as support and resistance when we trade TMS 5-Method. We keep it simple, and we keep our trading charts clean and clutter-free so that we can see the price Action much easier. Historical support and resistance should be given more weight when we trade medium and long terms.

Q. Can you make steady gains just trading 4hr charts?
NO.
Consistency in trading is very important. How to achieve consistent results demands discipline on the part of the trader. Discipline in every facets of trading is mandatory for long term consistency.
Every task perform by the traders must be done with discipline. Trading discipline is a topic people talk about all the time but few has the correct answer. There are few common discipline issues which we read repeated often. The ultimate discipline is a combination of many different things of the individual person as the trader. These are unique to the individual trader. You have to know yourself.

Therefore, the quotation from the Art of War by Sun Tze:
If you know the enemy and know yourself, you need not fear the result of a hundred battles. If you know yourself but not the enemy, for every victory gained you will also suffer a defeat. If you know neither the enemy nor yourself, you will succumb in every battle.


Q. Are BRN's good for targets and areas to trade away from?
YES.
The big round numbers price levels are the same seen by the market. Buying and selling activities move from one price level to another price level. Between the price levels are different traders some very short term, some short term, some medium term and long term buyers and sellers.

To use the price levels as targets, we must decide on the duration of our trading.
See below, the GBPCAD example with the BRNs and RNs levels.


Q. What is the best TF to trade?
There is no best TF to trade.
Trading must be treated as a business. Every business has its business oertaing hours. In my neighbour-hood is a 60 years old dental practice. This practice is well known to the older folks in my community because the practice was started by the father and passed down to his son now. The dentist opens his clinic in 3 sessions on all weekdays. From 0900 to 1200, 1400 to 1800 and from 2000 to 2300.

As a fulltime trader, we must be able to trade in various market conditions or what is known as market type. Certain market type is good for short term trading like intraday can be done using H1 and M15. These short term trades should normally last 3 to 5 hours duration during a particular market session and should avoid running these short term trades into the next market session.
Medium term trading would be 4H Short Swing trading which can last 2 to 4 trading days within the same trading week. These trades are seldom roll over to the following week except when these trades are converted to long term Position Trading.

Long term trading is Position Trading which can last from several days to several weeks. Such trades can also run into months with careful planning and when market conditions are favourable.
Therefore, as a full time trader, we must be able to trade in all different market types.

Q.Do I need more than 1 system to trade?
YES.
Very seldom do we find trading systems that will work in all market types. Moreover, there are buying and selling activities in different timeframes. My belief is that we must not be dependent on only one system in this business. For example, there are many weeks in one year when the market type is very narrow ranged and we will not find many profitable 4H Short Swing trades. We will miss our business financial target. Similarly, for Position Traders, there may not be enough trades in one year to generate enough income to meet the yearly financial goal. However when the market is quiet, there will be plenty of very short term trades when we trade intraday on H1 and also M15.

As full time traders who want to trade for an additional income or supplement income to our day jobs, we need to have three systems for short term trading, medium term and long term trading.

In this business, we need to have different financial goals for short term, medium term and long term. Keep different trading account for different system. This will enable us to evaluate the performance of each system separately.
I developed 3 systems. See posts Post#52,347 using TMS 5-Method develop 3 systems...SMART objectives and Post#53,338 .

What is most important is all three (3) systems must be based on the same core trading methodology line this TMS 5-Method as your core trading methodology. There are several good trend following systems in the market place. Professional traders like Raghee Horner and Kathy Lien have written a lot about their trading methodologies and their money management strategies.

EMMANUEL good post.


CONSISTENCY

Hi,

I read some of you reported losses this week. What happen?

Did you lose your consistency?

This is a common problem with many traders. It is very difficult to maintain consistency to be a profitable trader. To be consistent in our trading that requires a clearly defined trading method and the discipline which goes with that method. Trading TMS 4H requires a certain setof discipline. Also it requires sufficient trading capital, a proven money management and trade managementskills, and a lot of self-control in how you manage your emotions while trading.

When you mix different rules from different methods when trading TMS 4H, you are bound to make some mistakes when you do not separate the trading methods rules and some of the rules are timeframe dependant.

Trading H1 and M15 , there are different rules. I hope you all realised these and stick to one method for trading different timeframes.

PATIENCE is one of the several cause of inconsistency.

What cause you to be impatient when you trade?

Impatience could come from your lack of clearly defined trading methodology and the understanding of it. You may think you know TMS 4H trading method well enough, but when you see the price bars moving in real-time, you are not really 100 percent if that is TMS setup. But you jump into a trade.

Boredom is the common cause of impatience and inconsistent trading. Many traders just want to open trades when they boot up their PC and fire up thier trading platform. They don’t really have a trade plan for that trading day or session. They simply don’t want to miss anything when they see price move on their chart. Some are even afraid of missing that expected ‘big move’ when someone had mentioned.

Until you know what are the causes for your impatience, you will not be able to solve that.

You need to know how many trades you should have per trading period for you to achieve your financial goals. For 4H swing trading, all you need is 5 good A+++trades every 20 trading days. I am not talking about one month but 20 trading days.

These A+++ trades will give you the multiple Rs when you use a proven money management and trade management method.

Therefore think of looking for that 5 A+++ trade every time you open up your trading charts.

You must have the skills to trade different methods during the same trading session. If you are trading intraday using H1, your rules for entry and exits are different from H4. So unless you know how to reconcile different methodsand blend them into one, my suggestion is that you do not trade multiplemethods in the same trading session. By blending, I mean entering a trade setupbased on H1 trading rules, then when the trades goes in your favour and you seea 4H setup, you convert that to a 4H trade and manage it as a 4H trade. You may consider to re-do your position sizing and make add-on positions which I do often

Note:A trading session is not market session. It is the defined hours you have availableto trade. Usually this must also coincide with one of the market session, for example the London session or the overlap hours of London / New York sessions.

Just focus in picking those A+++ trade setups and gradually you will develop patience in an unconscious state. It is about the QUALITY of your trades and not the QUANTITY of trades.

Ido not recommend trading M15 timeframe as it requires very different setups and rules. I know a few members tradingM15 has damage many traders confidence over the past year. They have not recovered their losses and drawdowns since.

Take care and trade carefully next week. It it the crossover week with one week candle straddle two months - April month end - May new month open.

Regards,
EMMANUEL

Hi Everyone,

I've been reading this thread since 1 month and I would like to Thanks you all to keep this thread continue since BIG E left us, RIP man, I didn't had the chance to speak with you but big respect Sir you deserve it!

Now I have one question : I see a lot of screen here from your template guys and I see some are using Synergy_APB with Heiken Ashi and some only use one of them so my question is what shall i use ? cause im a bit confuse about this

Thanks for your answers guys.
Sorry for my bad english skill it's not my native language i'm from Switzerland, French part.

Hasib, you once asked me about AN and I said I don't trade it but price is showing me a short set up, hence I took it with another pending slightly higher up

Join here bros: https://www.forexfactory.com/thread/...th-tms-classic
We can discuss TMS Classic in this thread.

My advice is use only Synergy APB indicator.
Attached here are the most basic indicators for this method

Hey,

Thanks for your answer and your shared file, i'll will try them

Any specific reasons why you leave out 5EMA, Stochasties 8,3,3?

Hi zakarh

I have see few good trader from Switzerland before, Anyway

You trade your own system, Develop your system and Test your system again and again by doing this you will develop your confidence in your system. Having confidence in your system is very very important especially when you trade live money. If you follow other people method you will always get puzzle and lose money.

Now you have 2 work,
1. develop a technical strategy.
2. Develop a capital management strategy.

Finally follow your own strategy with a proper discipline.
Best of luck