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Monitor for 'Trading Made Simple' system 553 replies

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Trading Made Simple

Quoting cpfleger
markrekt, if possible watch on youtube ATS video's and if you have read Big Ed's pdf you will see the Blue Rectangle Boxes as Consolidation Areas (stay out of the market time) and the White and Green / Red Lines as opportunities to trade with Red or Green Arrows, follow the MA Line and when the candle Body touches the MA exit the trade. Practice on a Demo using 1 Hour TF firstly and then go upwards to the Daily to extend your new skill and pips.
Could you please send the links of video? Thanks in advance.
Trading TMS Classic Way - https://www.forexfactory.com/thread/1114833
Quoting cpfleger
After years of reading, testing and applying various Indicators and of course finding these Indicators around the globe, this is my 2022 System... Clean and simple to use. {image}

when you can trade Big E' 5-Method and knowing how to use those ATS tools you no longer need the TDI.

.. it is blending Big E' 5-Method with the ATS trade zones.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
Quoting leekeyne
Question for Emmanuel: Could you breakdown how you use the ADR trailing stop loss when you trade daily charts? I am having a hard time with the exits as there is so much discretion involved there. Having read the first 40 pages from Big E so far, my summary of Big E's exit rules are: TDI becoming flat Rollovers/Hooks Checkmarks TDI line crossing red line towards opposite trading direction (could be opposite entry signal sometimes) PA Ranging after multiple candles (e.g. small candles forming) Candles with long wicks in your trading direction (PA...

using TDI for exit is for conservative traders when they trade the aggressive reversal entry.

Big E did not trade the Daily chart much and he was testing the Daily Post#8703 but did not post any of his trading results.

His TDI exit (Post#6) has some confusion in the past. See Post #7612. You do no have to exit using the TDI. You can exit based on price and price action using the HA candles and the 5EMA Typical Price, Shift+2.

If you want to consider using the ATR, then the ATR-Stop is one way to place your stop loss and trailing stop.

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study this:
https://forex-indicators.net/volatil...handelier-exit


...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
EURNZD Jan21 H4

-

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...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
Quoting emmanuel7788
EURNZD Jan21 H4 - {image} ...
7 hours ago ...

that was a "Perfect setup"...

- price action ... swing low with bullish outside bar BUOB
- Reversal candle with Stoch(8,3,3) signal
- TDI Golden cross

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...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
Closed out GBPCAD (short) for a tiny profit. PA looked like it's pulling back / consolidating. Will look for another short continuation trade if price moves back down. Opened a new USDCAD long trade as TDI is pointing up and a large bullish candle is about to close. AUDJPY and GBPSGD are still open. The constant overnight interest fees are something I still have to wrap my head around. Probably experimentation with the 4h chart needed. By the way, I setup a public ForexFactory trade explorer journal to keep myself accountable and transparent Anyway, I don't give much regard to all these trades besides evaluating how I traded these. I need a real huge sample size. On to the next 100 trades.
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Quoting leekeyne
Closed out GBPCAD (short) for a tiny profit. PA looked like it's pulling back / consolidating. Will look for another short continuation trade if price moves back down. Opened a new USDCAD long trade as TDI is pointing up and a large bullish candle is about to close. AUDJPY and GBPSGD are still open. The constant overnight interest fees are something I still have to wrap my head around. Probably experimentation with the 4h chart needed. By the way, I setup a public ForexFactory trade explorer journal to keep myself accountable and transparent ...



you will do well trading the Daily chart. avoid the H1 and below.

pick only the Daily best trade setups when you want to trade reversals.

better trades are the continuation setups i.e. after the reversal and the Weekly is in favour.

avoid over-trading and manage your account margin.

all the best and trade well.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
Quoting emmanuel7788
{quote} you will do well trading the Daily chart. avoid the H1 and below. pick only the Daily best trade setups when you want to trade reversals. better trades are the continuation setups i.e. after the reversal and the Weekly is in favour. avoid over-trading and manage your account margin. all the best and trade well.
USD pairs Daily for Week 04 Jan 24 to 28

- pick the continuation ...

- buy USD

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...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
Quoting emmanuel7788
{quote} USD pairs Daily for Week 04 Jan 24 to 28 - pick the continuation ... {image} ...

JPY pairs Daily for Week 04 Jan 24 to 28

- JPY strength continues


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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
Quoting emmanuel7788
{quote} JPY pairs Daily for Week 04 Jan 24 to 28 - JPY strength continues {image} ...

SGP pairs Daily for Week 04 Jan24 to 28

- pick SGP strength for continuation

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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
Fractals


knowing the higher timeframe fractal when you are on your lower timeframe chart,

for e.g. when trading H4, you can see the D1 fractal for thge swing high and swing low.

Nice tool { here }
https://www.mql5.com/en/code/35575


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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
Quoting emmanuel7788
{quote} JPY pairs Daily for Week 04 Jan 24 to 28 - JPY strength continues {image} ...
Thanks for the tipps Emmanuel! I am planning to go short on the CADJPY when the market opens based on the daily.
Quoting leekeyne
{quote} Thanks for the tipps Emmanuel! I am planning to go short on the CADJPY when the market opens based on the daily.
I pick AUDJPY and trade TMS MEME sell Daily.

- Stop loss (cut-loss) above previous 2-weeks high
- 0.5 ADR(100) is about 35 pips distance between orders, maximum 5 orders per basket.
- manage using Average Entry Price AEP of each basket.

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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
AUDUSD Jan24 H4

- CONTINUATION trade setup

- Price Action Double Bars High Lower Close DBHLC

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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
Quoting emmanuel7788
{quote} I pick AUDJPY and trade TMS MEME sell Daily. - Stop loss (cut-loss) above previous 2-weeks high - 0.5 ADR(100) is about 35 pips distance between orders, maximum 5 orders per basket. - manage using Average Entry Price AEP of each basket. {image}
Hi Emmanuel

Haven't being following the TMS thread for quite a while - are you back trading MEME.

Brings back some memories from 2016.

Dusted my old EA off, gave it a buff - lets have some fun.

Also loaded up AUDJPY with my Selling MEME EA - also 35 pip gap with 35 pip take profit and of course re-enter.
EURJPY would of been good too but I'm sticking with safety first and keep to AJ.

I prefer running MEME on H1, I feel it provides clearer visuals but that's just me.
Now its running, back to my scalping.

Cheers
Trading thin liquidity at the boundary of the charts
Just closed the short GBPSGD trade with a 3:1 reward to risk. I was contemplating to hold longer. But as the TDI was nearing its 32 line, I thought I lock in the gains instead of risking a sharp pullback even though the downtrend might continue.
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Quoting leekeyne
Just closed the short GBPSGD trade with a 3:1 reward to risk. I was contemplating to hold longer. But as the TDI was nearing its 32 line, I thought I lock in the gains instead of risking a sharp pullback even though the downtrend might continue. {image}
closed the short GBPSGD trade with a 3:1 reward to risk.
So did you actually set your SL and TP right after you opened the trade at 3:1 reward:risk and then let the trade play out, or did you change one or both of them as the trade progressed?
The markets are speaking to you. Do you know their language? I M T
Hey Dave, no I personally don't set a TP, just a SL. After price has moved around the same distance as my SL from my entry, I will move up the SL to slowly reduce my risk. As for exiting the trade in profit, I have basically setup two rules for me:
1. Price action moves against me or
2. TDI cross in the opposite direction.

I am not 100% sure yet whether I should stick to a more fixed way of just exiting when the TDI crosses in the opposite direction or to use discretion combined with price action. But for this trade I used the latter. I reasoned price has become quite overextended and 3:1 is pretty nice to lock in. Therefore the exit.
  • Post #128,780
  • Quote
  • Edited Jan 25, 2022 10:16am Jan 24, 2022 5:08pm | Edited Jan 25, 2022 10:16am
Quoting leekeyne
Hey Dave, no I personally don't set a TP, just a SL. After price has moved around the same distance as my SL from my entry, I will move up the SL to slowly reduce my risk. As for exiting the trade in profit, I have basically setup two rules for me: 1. Price action moves against me or 2. TDI cross in the opposite direction. I am not 100% sure yet whether I should stick to a more fixed way of just exiting when the TDI crosses in the opposite direction or to use discretion combined with price action. But for this trade I used the latter. I reasoned...
I personally don't set a TP, just a SL.
OK, then you did not actually have a trade of 3:1 reward:risk . Your trade entry had no reward included. After you closed your trade, you went back and merely gave the pips won to pips initially risked. Lots of people do that and then think they had the stated r:r, which, of course, is not r:r at all.
The markets are speaking to you. Do you know their language? I M T
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