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Trading Made Simple

  • #141,741
  • Aug 16, 2023 2:24am Aug 16, 2023 2:24am
Quoting eelfranz
Don't get fired ! Just make the necessary transition to trading 4hr charts during the London session... or Daily charts.

Why make the transition to trade the 4hr ?

Answer below

Quoting eelfranz
I prefer to trade the 4hr charts at night. My broker posts new 4 hr candles at 10pm my time (Pacific), 2am my time and 6am my time. My page when I open up my charts has 8 open charts. I just glance at the TDI for set ups when the new candle opens... If I see a set up... green just crossing red I'll take the trade, turn off the puter and go to bed. Four hours later (1:50am) my alarm goes off for the new candles and I take a peek... if I see a new set up I'll enter and go back to bed with the last alarm at 5:50am my time. I close all trades at that...
post #11

I prefer to trade the 4hr charts at night. My broker posts new 4 hr candles at 10pm my time (Pacific), 2am my time and 6am my time.

My page when I open up my charts has 8 open charts. I just glance at the TDI for set ups when the new candle opens... If I see a set up... green just crossing red I'll take the trade, turn off the puter and go to bed. Four hours later (1:50am) my alarm goes off for the new candles and I take a peek... if I see a new set up I'll enter and go back to bed with the last alarm at 5:50am my time. I close all trades at that time and go back to sleep... There are enough set ups in a normal week to make 200-500 pips... Stress is zero...

If I do any day trading I'll use 1hr charts at news time. Any method and any timeframes are difficult and fast on the 5-15 min charts. That's where most traders get taken to the slaughter and the dealers know it which puts the odds in their favor...

I hate to monitor charts anyway. Even if I scalp the market I use 4hr charts with success....

4hr charts have less noise, less head fakes, less influence by any news. Just has a lot of benefits...

The key to building confidence is to study old charts... look at the TDI moves and how it looks on PA so every time you see that same set up you will know your odds for success are high.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #141,742
  • Aug 16, 2023 2:55am Aug 16, 2023 2:55am
Quoting tommydoginti
{quote} AUDUSD. Use price action to determine trade direction. Wait for price move in the direction and enter at TDI green cross red as of BigE’s TMS setup Look at the candles on the last reversal... big, little, what {image}
TMS buy setups for AUDUSD.

#647 determine uptrend
Buy at TDI cross up.

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  • #141,743
  • Aug 16, 2023 3:37am Aug 16, 2023 3:37am
Quoting tommydoginti
{quote} TMS buy setups for AUDUSD. #647 determine uptrend Buy at TDI cross up. {image} {image} {image}

AU Aug 16 London 9:34AM

> without a Swing Low True REVERSAL , it very risky to take any buy trades during this active H4 candle

> this current 4hr candle will close in less than 27 minutes... anything can happen during this 27 minutes

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...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #141,744
  • Aug 16, 2023 3:45am Aug 16, 2023 3:45am
Quoting emmanuel7788
{quote} AU Aug 16 London 9:34AM > without a Swing Low True REVERSAL , it very risky to take any buy trades during this active H4 candle > this current 4hr candle will close in less than 27 minutes... anything can happen during this 27 minutes {image} ...
TDI (RSI) in 32-50 range too
  • #141,745
  • Aug 16, 2023 3:49am Aug 16, 2023 3:49am
Quoting oradba
Hey @Emmanuel7788 - I've been reading Strat's PASR thread as part of trying to build a trading system (I took James16's course a lifetime ago, but didn't have the discipline to apply it properly). Came across this example today. {image} If I were trading this chart naked, I would have entered on the second candle after the double top started reversing; but TDI would have had me enter four bars later (Strat's method would have had me wait until approximately the twelfth bar). Why such a disparity between the eyeball indicator and TDI? BTW, am starting...

@oradba

Chart patterns can be subjective and do not have high success rate. You need to combine both technical analysis and fundamental analysis plus market sentiments when you are swing trading the markets.

You chart double top is similar to my AJ trade this week. My sell swing just got stopped out today out by CSTSL.

The sell entry was the second candle like what you see on your chart.

If you would look for TDI for entry, you will be always be candles later.

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...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #141,746
  • Aug 16, 2023 3:53am Aug 16, 2023 3:53am
Quoting hostwey
{quote} TDI (RSI) in 32-50 range too


Yes.

You have good eyes and years of experience with this TDI thing.

There is another feature of the TDI which TMS traders ignore.

...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #141,747
  • Aug 16, 2023 4:08am Aug 16, 2023 4:08am
Quoting emmanuel7788
{quote} AU Aug 16 London 9:34AM > without a Swing Low True REVERSAL , it very risky to take any buy trades during this active H4 candle > this current 4hr candle will close in less than 27 minutes... anything can happen during this 27 minutes {image} ...

AU Aug 16 London 10AM _ 4H

- a new H4 candle opens, new 4hr trade window

- note the Daily is still in a strong down trend for many days, today is just a pullback happening now.

- H4 now shows new candle with RSI green price line momentum slope 7.2

- there is still risk taking this buy trade when the higher timeframe Daily and Weekly are in downtrend / swings

- to take such a risky trade, the Daily must be sideways consolidation which is not the case now.

> I do not see any setup with statistical edge of +2R with this risky setup now/

> anything can happen in the next 4 to 6 4hr candles

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...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #141,748
  • Aug 16, 2023 4:09am Aug 16, 2023 4:09am
Quoting emmanuel7788
{quote} hey TMS folks this new trader @tommindog is WRONG! TMS setups are NOT TDI crosses aligning with Price Action. TMS is trend following trading strategy and the setups are True REVERSAL setups which requires market liquidity, price momentum and volume to push price in the same direction of the short and long term trends #647. The other type of setups are continuation BREAKOUT setups i.e. after the True REVERSAL has been completed and the new trend is confirmed, TMS traders would be looking for BREAKOUT setups and the breakouts setup after market...
Why do you post lies Vincent?
> "according to the OP in this thread is how to trade his 5-Method, setups are based on Price Action"
Post 6 clearly state: We Enter a trade when green crosses red on the TDI at the beginning of that candle... If it's candle 3 or more don't enter...
Post 647 clearly state : Your safest trades will always be when green crosses red and you enter on candle 1 or 2... odds are in your favor.

Show the readers in this thread where BigE posted that setups are based on Price Action.

You are the scammer Vincent.
  • #141,749
  • Aug 16, 2023 4:14am Aug 16, 2023 4:14am
Quoting emmanuel7788
{quote} AU Aug 16 London 10AM _ 4H - a new H4 candle opens, new 4hr trade window - note the Daily is still in a strong down trend for many days, today is just a pullback happening now. - H4 now shows new candle with RSI green price line momentum slope 7.2 - there is still risk taking this buy trade when the higher timeframe Daily and Weekly are in downtrend / swings - to take such a risky trade, the Daily must be sideways consolidation which is not the case now. > I do not see any setup with statistical edge of +2R with this risky setup now/ > anything...

EU Aug 16 London 10AM Pacific 2AM

- this pair would be a better setup to consider

- the Daily is sideways consolidation with that big candle, small candle, ... #647

> you have only one candle to get out i.e. the next 4hr Pacific 6am

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...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #141,750
  • Aug 16, 2023 4:19am Aug 16, 2023 4:19am
Quoting Tekkies
{quote} Why do you post lies Vincent? > "according to the OP in this thread is how to trade his 5-Method, setups are based on Price Action" Post 6 clearly state: We Enter a trade when green crosses red on the TDI at the beginning of that candle... If it's candle 3 or more don't enter... Post 647 clearly state : Your safest trades will always be when green crosses red and you enter on candle 1 or 2......


hey @Tekkies

You missed post #261

You missed post #12,912

And when you did not follow Big E's post in this thread, your next Margin Call is imminent.

What have you learned from your 2021 5,000 trade losses.

How many more trading accounts will you blow in 2023?

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...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #141,751
  • Aug 16, 2023 7:53am Aug 16, 2023 7:53am
Came across a flameproof suit at a garage sale, and it fits! So here, for feedback, is my attempt at a trading plan, using what I have learned:
====================================================
I TRADE USING PRICE ACTION / SUPPORT & RESISTANCE (PASR) METHODS

I USE TDI/STOCHASTIC (TMS 5-METHOD OR MEHDI RULES) AS CONFIRMATION

I PREFER TO TRADE HIGHER TIMEFRAMES (H4 OR D1)

I LOOK FOR SETUPS AT 9PM, 5AM, 9AM AND 1PM EASTERN TIME (US)

I PREFER TO ENTER ON PULLBACK REVERSALS OR SWINGS

I HARVEST 10 PIPS AT 20 PIPS PROFIT, THEN LET TRADES RUN

I USE MULTIPLE ENTRY/MULTIPLE EXIT (ME/ME) TACTICS AT 25-PIP INTERVALS

I DO NOT TRADE AGAINST W1 OR MN TRENDS

WHEN W1 AND MN ARE RANGING, I USE THOSE BOUNDARIES TO SET EXPECTATIONS

I USE A 30-PIP STOP FOR ‘NORMAL’ PAIRS, A 50-PIP STOP FOR VOLATILE ONES (E.G., GPBUSD)

I EXIT AT SWING REVERSALS

MY GOAL IS TO AVERAGE 500 PIPS PER WEEK
==========================================

Constructive feedback will get my attention.

Thanks in advance!
  • #141,752
  • Aug 16, 2023 8:11am Aug 16, 2023 8:11am
Quoting oradba
Came across a flameproof suit at a garage sale, and it fits! So here, for feedback, is my attempt at a trading plan, using what I have learned: ==================================================== I TRADE USING PRICE ACTION / SUPPORT & RESISTANCE (PASR) METHODS I USE TDI/STOCHASTIC (TMS 5-METHOD OR MEHDI RULES) AS CONFIRMATION I PREFER TO TRADE HIGHER TIMEFRAMES (H4 OR D1) I LOOK FOR SETUPS AT 9PM, 5AM, 9AM AND 1PM EASTERN TIME (US) I PREFER TO ENTER ON PULLBACK REVERSALS OR SWINGS I HARVEST 10 PIPS AT 20 PIPS PROFIT, THEN LET TRADES RUN I USE MULTIPLE...
Good you are going the right direction. Just as BigE’s Trading Made Simple method.

One suggestion. Trade the timeframe you enter. If you use H1, use the price action on H1.

BigE trades TMS within 20seconds. Not “refreshing” chart as of his mention. He only referred to 1 time frame when trading that timeframe. When toggling other timeframe the chart is refreshed on MT4.

When wanting to enter a TDI trade... take a moment first to observe basic 4x things... like:

How close am I to the previous high or lo

Am I in an uptrend or downtrend.. short & long term...

Am I in or close to a consolidation area

Are the previous candles small...

Look at the candles on the last reversal... big, little, what

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  • #141,753
  • Aug 16, 2023 8:12am Aug 16, 2023 8:12am
Quoting tommydoginti
{quote} TMS buy setups for AUDUSD. #647 determine uptrend Buy at TDI cross up. {image} {image} {image}

Sold GU.

BigE’s TMS, only 2 sentence to conclude this TMS sell opportunity.

Price rejected from previous High.
TDI cross down.

And TDI crossing down from above 68 was BigE’s favourite due to high chance winning

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  • #141,754
  • Aug 16, 2023 9:00am Aug 16, 2023 9:00am
A small EU 30M trade before FOMC Meeting Minutes:

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  • #141,755
  • Aug 16, 2023 9:25am Aug 16, 2023 9:25am
Quoting kirinda
A small EU 30M trade before FOMC Meeting Minutes: {image}
Good trade Kirinda,

The simplicity of TMS method is there: price action to identify the TDI signals that are of high probability to win.

simple does not mean easy. But you are doing well!

trade well

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  • #141,756
  • Aug 16, 2023 9:35am Aug 16, 2023 9:35am
Quoting kirinda
A small EU 30M trade before FOMC Meeting Minutes: {image}



Narrow range sideways market type conditions ...

Price Action and Stochastics Divergence trade

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...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #141,757
  • Aug 16, 2023 10:22am Aug 16, 2023 10:22am
Quoting tommydoginti
{quote} Sold GU. BigE’s TMS, only 2 sentence to conclude this TMS sell opportunity. Price rejected from previous High. TDI cross down. And TDI crossing down from above 68 was BigE’s favourite due to high chance winning {image} {image}
Post #647 of BigE's Trading Made Simple.

When wanting to enter a TDI trade... take a moment first to observe basic 4x things... like:

How close am I to the previous high or lo

To get into good trades more often, do not buy into resistance or sell into support.
TMS trades are sell away from resistance and buy away from support.

Good trade by @Kirinda for the EU sell away from resistance
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GU also was TMS sell opportunity from resistance
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  • #141,758
  • Aug 16, 2023 10:36am Aug 16, 2023 10:36am
Quoting kenergy1
{quote} let's see what happens {image}
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Hi Kenergy1,

Using #647 Price Action of TMS method, you should be able to avoid this losing trade. Especially at a long term downtrend
How close am I to the previous high or lo
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We have other examples of losing trades that chased the market (FOMO). Traders can learn from these mistakes to avoid making one themselves.
Trade well.
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  • #141,759
  • Aug 16, 2023 11:17am Aug 16, 2023 11:17am
Same setup, Same rules.
=== When TDI give a signal
> Refresh chart.
> Did TDI green cross red (green bounce red)
> TDI green angle above / below 2 / 4
> Is Stoch confirming TDI green direction
> Candle 1 or 2
===Use post#647 to confirm TDI signal
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  • #141,760
  • Aug 16, 2023 12:40pm Aug 16, 2023 12:40pm
Quoting tommydoginti
{quote} Sold GU. BigE’s TMS, only 2 sentence to conclude this TMS sell opportunity. Price rejected from previous High. TDI cross down. And TDI crossing down from above 68 was BigE’s favourite due to high chance winning {image} {image}
"And TDI crossing down from above 68 was BigE’s favourite due to high chance winning"
Careful with that one Tommy.
Post #121..... .... However I've seen trades taken short on the 32 line go 100 pips profit... Just be aware how close you are to the 68 & 32 line and pay close attention.
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Tekkies