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Trading Made Simple

  • #143,101
  • Sep 29, 2023 8:53am Sep 29, 2023 8:53am
Quoting kenergy1
{quote} how do you manage your trade once you are in?
An example to illustrate TMS trades and trade management approach.

A nice TMS sell entry.
TDI cross down.
#647 Price Action confirming price rejection from previous low.

SL place at previous high
First previous low is at >1:1R level. Plan trade management as price reaches that level.

Attached Image (click to enlarge)
Click to Enlarge Name: BE9E924E-2057-4DD6-B668-3180536D1191.jpeg Size: 775 KB
  • #143,102
  • Sep 29, 2023 9:01am Sep 29, 2023 9:01am
GU Sep 29

- scalping the 4hr Price Action at Day 10EMA
Attached Image (click to enlarge)
Click to Enlarge Name: Gu Sep29 scalping the 4hr 29-9-2023 9-59-40 pm.png Size: 37 KB


...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #143,103
  • Sep 29, 2023 9:15am Sep 29, 2023 9:15am
Quoting kenergy1
{quote} how do you manage your trade once you are in?

Exit Strategy and Trade Management

Every trader must know when they want to exit before you make their trade entry. Every trade entry must have minimum two exits, first exit is your initial stop loss. The other exits are your take profits levels.

Then manage your trade exits according to your Exit Strategy and follow your Trade Plan

When you are scalping, the minimum exit is Risk_Reward based on the risk 'R'.
Manage your exit based on the price action move.
When price move to +1R level, move your SL to BE+
When price move to +2R level, move your TSL to +TP1 and protect +1R.

Example my live trade today,
https://www.forexfactory.com/thread/...5#post14597495


Attached Image (click to enlarge)
Click to Enlarge Name: Gu Sep29 scalping the 4hr 29-9-2023 9-59-40 pm.png Size: 37 KB



GU sell TMS-II trade closed.

Attached Image (click to enlarge)
Click to Enlarge Name: GU Sep29 scalp the 4hr PA BEEOB.png Size: 24 KB




...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #143,104
  • Sep 29, 2023 9:28am Sep 29, 2023 9:28am
Quoting emmanuel7788
Just too much risks .... GA Sep28 Daily {image}
Attached Image (click to enlarge)
Click to Enlarge Name: GA Sep28 Daily too risky 28-9-2023 8-42-34 am.png Size: 28 KB



...

Someone caught the Daily turnaround

- that Sep28 candle close a Bearish Engulfing candle in the direction of the dominant trend

Attached Image (click to enlarge)
Click to Enlarge Name: GBPAUD Sep29 Daily Piercing candle 29-9-2023 10-21-59 pm.png Size: 27 KB

...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #143,105
  • Sep 29, 2023 9:37am Sep 29, 2023 9:37am
Quoting emmanuel7788
{quote} EU Sep29 - scalping the 4hr with Price Action and Support/Resistance {image} ...

EU Sep29 TMS-II trade

- nice Price Action trading according to the OP' post #2617

> time to move your SL to BE+

- it is TSL move from now on

Attached Image (click to enlarge)
Click to Enlarge Name: EU Sep29 H1 True Reversal setup 29-9-2023 10-32-12 pm.png Size: 39 KB




...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #143,106
  • Sep 29, 2023 9:48am Sep 29, 2023 9:48am
Quoting tommydoginti
{quote} An example to illustrate TMS trades and trade management approach. A nice TMS sell entry. TDI cross down. #647 Price Action confirming price rejection from previous low. SL place at previous high First previous low is at >1:1R level. Plan trade management as price reaches that level. {image}
just a very quick scalp to end the month.

TMS buy setup.

Simple rules. BigE’s favourite TDI cross up from 32.

Attached Image (click to enlarge)
Click to Enlarge Name: 180ED8DD-93E7-4186-A278-9F189B548676.jpeg Size: 283 KB
Attached Image (click to enlarge)
Click to Enlarge Name: 284E21AE-0E9E-45B8-B516-D5006FB65F30.jpeg Size: 31 KB
Attached Image (click to enlarge)
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Green pips to all
  • #143,107
  • Sep 29, 2023 10:11am Sep 29, 2023 10:11am
GU Sep29 ADR

- exhausted its ADR today so it is EOD


Attached Image (click to enlarge)
Click to Enlarge Name: GU Sep29 H1 ADR hit 29-9-2023 11-06-49 pm.png Size: 28 KB


> got my +2R scalping the 4hr

Attached Image (click to enlarge)
Click to Enlarge Name: GU Sep29 scalp the 4hr PA BEEOB.png Size: 24 KB


...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #143,108
  • Sep 29, 2023 10:27am Sep 29, 2023 10:27am
Quoting eelfranz
Don't get fired ! Just make the necessary transition to trading 4hr charts during the London session... or Daily charts.
when you follow the OP' posts and make the transition to trading the 4hr,

you also scalp the 4hr ... the OP' posts links:


https://www.forexfactory.com/thread/...56#post4569656

https://www.forexfactory.com/thread/...28#post4575828

https://www.forexfactory.com/thread/...04#post4517204

https://www.forexfactory.com/thread/...10#post4423010

as TMS 5-Method traders we do not scalp against the 4hr Price Action.

we watch the PA and catch the MOMENTUM when we scalp.

Attached Image (click to enlarge)
Click to Enlarge Name: GU Sep29 4hr New York open 29-9-2023 11-27-10 pm.png Size: 35 KB



...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #143,109
  • Sep 29, 2023 10:53am Sep 29, 2023 10:53am
Emma you got any povit indi that I can use pls share with me I lost mine when I formatted my laptop
  • #143,110
  • Sep 29, 2023 5:39pm Sep 29, 2023 5:39pm
Here's one to try
Attached File(s)
File Type: ex4 All Pivot PointsMod.ex4   112 KB | 307 downloads
Your trade order needs to be in the right place at the right time.
  • #143,111
  • Sep 29, 2023 8:41pm Sep 29, 2023 8:41pm
Quoting Enagy
Emma you got any povit indi that I can use pls share with me I lost mine when I formatted my laptop

@Enagy

member @Islandfx911 shared a good one above post.

If you want the Daily and Weekly Pivots, there are in this old post #22,389

I stopped using them to further simplify my trading and having removed the Stoch and TDI from my trading charts as per the OP' post #2617.
Fewer indicators mean fewer rules to follow.

Just learn to read your candles and trade what you see in the candle price action and *CONFLUENCE of a few support and resistance elements like the recent PPA swing highs/swing lows, BRN/RN price levels, Power of 10EMA/50EMA on Triple Screen MTF analysis, and of course the OHLC of the higher TF candles like the Weekly candles.

...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #143,112
  • Sep 29, 2023 8:45pm Sep 29, 2023 8:45pm
Quoting kenergy1
{quote} how do you manage your trade once you are in?

Trade Management Sep 2013

Here is link back 10 years to Sep 12, 2013

a pdf compiled by member @Erl

#24,937

https://www.forexfactory.com/thread/...98#post6958198

> click to download { here }
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #143,113
  • Sep 30, 2023 3:20am Sep 30, 2023 3:20am
Quoting emmanuel7788
{quote} as TMS 5-Method traders we do not scalp against the 4hr Price Action. we watch the PA and catch the MOMENTUM when we scalp. {image} ...
I don't understand this post. If you were not trading against the 4hr Price Action, why would you put a sell trade in on m30 when the PA on the 4hr at the time of the trade was still up?
  • #143,114
  • Sep 30, 2023 3:59am Sep 30, 2023 3:59am
Quoting tommydoginti
{quote} just a very quick scalp to end the month. TMS buy setup. Simple rules. BigE’s favourite TDI cross up from 32. {image}{image}{image} Green pips to all
Use BigE’s TMS method to trade away from price levels for high accuracy entries. Using TDI as the “heart” of the method.

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

Attached Image (click to enlarge)
Click to Enlarge Name: F63033B4-36A2-4E0B-9A90-6F8E4EB06037.jpeg Size: 840 KB
  • #143,115
  • Sep 30, 2023 6:11am Sep 30, 2023 6:11am
Quoting lynnc
{quote}I don't understand this post. If you were not trading against the 4hr Price Action, why would you put a sell trade in on m30 when the PA on the 4hr at the time of the trade was still up?
hi @lynnc

I was trading the 4hr price action which was in a correction of the Weekly and Daily trend. I was looking at the depth of the correction ... how far it go before it reverses back and follow the Weekly dominant trend.

I was stalking GU since last week looking for the possible retracement and where it would happen. I post that early in the week and because it is month end, I am more cautious where the Monthly shadow trading this week.
I was looking at where the retracement would go to ... the 50EMA and 200EMA, also the Daily 10EMA and H4 10EMA and also the BRN and RN price levels.
The Arjun candle on the Daily was quite obvious on Friday plus the fact the intraday day ADR seen on H1 were both key trading decision to take a PA bounce off the ADR High.
I could have taken the sell on the M15 which we did often in LE1 thread.


Attached Image (click to enlarge)
Click to Enlarge Name: GU Sep25 looking top down 25-9-2023 12-40-47 pm.png Size: 35 KB


Attached Image (click to enlarge)
Click to Enlarge Name: GU Sep29 4hr New York open 29-9-2023 11-27-10 pm.png Size: 35 KB


Attached Image (click to enlarge)
Click to Enlarge Name: GU Sep29 H1 ADR exhaustion 30-9-2023 6-53-20 pm.png Size: 26 KB




...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #143,116
  • Sep 30, 2023 6:17am Sep 30, 2023 6:17am
Quoting emmanuel7788
{quote} CAD GDP data release soon ... if worst than forecast then wait for the spike candle. I banked in 25 pips already so I stay and fight with CP setting {image} .. {image}

USDCAD Sep29 TMS-II trades closed

- TP1 +10pips

- TP2 +25pips

- stopped out BE+2pips TMS-II CP when price pulled back

- during the GDP data release

Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD Sep29 TMS-II trade closed 29-9-2023 9-30-45 pm.png Size: 25 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #143,117
  • Sep 30, 2023 6:25am Sep 30, 2023 6:25am
Quoting emmanuel7788
{quote} USDCAD Sep29 TMS-II trades closed - TP1 +10pips - TP2 +25pips - stopped out BE+2pips TMS-II CP when price pulled back - during the GDP data release {image}
Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD Sep29 TMS-II trade closed 29-9-2023 9-30-45 pm.png Size: 25 KB

USDCAD Sep29 after my trade was stopped out I did not follow-up with this pair as there was US data release and I move over to trade E-Mini Futures Market.

Hindsight Trading is always perfect and it would have been a +4R buy trade pushed by better US data .

The PA was good with consecutive swing lows ... double bottom and True REVERSAL setup...


Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD Sep29 post-news hindisght trading 30-9-2023 5-22-59 pm.png Size: 29 KB




...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #143,118
  • Oct 1, 2023 2:44am Oct 1, 2023 2:44am
Quoting emmanuel7788
{quote} Trade Management Sep 2013 Here is link back 10 years to Sep 12, 2013 a pdf compiled by member @Erl #24,937 https://www.forexfactory.com/thread/...98#post6958198 > click to download { here }
hi emmanuel

what are these?

best wishes
Attached Image (click to enlarge)
Click to Enlarge Name: emanuel exit.jpg Size: 29 KB
  • #143,119
  • Oct 1, 2023 2:55am Oct 1, 2023 2:55am
Quoting korosh1350
{quote} hi emmanuel what are these? best wishes {image}
@korosh1350

Good question.

In this thread, the OP only trade with Single Entry / Single Exit SE/SE.

To learn more and learn EVRYTHING, check out these posts links:

Money Management:

Day chart position trading:

Entry and Exits: Post#24,918 Post#18,422 Post#19,617

How to Build a Position: Post#19,588 Post#20,342

*** Reply to @snarlyjack : Post#52,347 using TMS 5-Method develop 3 systems...SMART objectives

*** Read Post#53,338 ........... reply to @sknight

Ask me when you want to learn more and to achieve higher success.

...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #143,120
  • Oct 1, 2023 3:28am Oct 1, 2023 3:28am
Quoting tommydoginti
{quote} Use BigE’s TMS method to trade away from price levels for high accuracy entries. Using TDI as the “heart” of the method. 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 {image}
What page can I read about these 4 basic things?
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