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Trading Made Simple

  • #143,161
  • Oct 2, 2023 6:37pm Oct 2, 2023 6:37pm
Quoting Tekkies
{quote} {image}

hey TMS Folks

First we must thank @Tekkies for posting his charts. We can all learn from his charts many lessons and learn why he never made any money form more than 7 years in this thread.

Lets learn a few basic lessons on how to read charts and the OP' post #2617.

Do it slowly one-step-at-at time .... Last-In First Out principle... the TDI was added to CHS NFF last, so it should be the first to strip.

#2617

> note what the OP said the Stoch angle between 20 and 80 lines ... that's one of the market conditions which the Stoch is good for and what the OP looked for in his TMS 5-Method.

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then next, the basics of CHS NFF system in his old thread ... are the swings ... swing highs / swing lows.

> the swings are easy to see on your charts,
> if you must use an indicator, then follow those charts in the old thread and use the Bill Williams Fractal which is standard in all trading platforms.

Attached Image (click to enlarge)
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Stay Tuned for more #647 basic of trading 4X... forex


.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #143,162
  • Oct 2, 2023 6:40pm Oct 2, 2023 6:40pm
Quoting romulorios
{quote} This link is not working {image}
@romulorios

sorry about that, seems to be another of the many broken links ...

here,

TMS for Beginners click >>> { here }


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now you know which hour of the day is best for trading ...

...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #143,163
  • Oct 2, 2023 7:03pm Oct 2, 2023 7:03pm
Quoting korosh1350
{quote} hi emmanuel why don't you trade all the pairs? best wishes
Quoting emmanuel7788
{quote} hi @koroshi1350 I do not need to trade all the pairs. Just pick the best A+++ setups and follow my trade plan to grow my accounts. Just deposit the margin required to trade maximum five pairs and generate CashFlow with SMART goal. Make my money work harder for me. CONSISTENCY is key to successful trading. Remember trading is a business not a hobby like most people here.
@korosh1350

There is no need to trade all the pairs. I have seven(7) groups of currency pair and I pick the best from each group and further screen them for the best A+++ setups.

What is important is to have a trading process every week and every day .. this is simple and I have been doing this for more than 20 years.

Simple process is to screen all pairs like the way I did in these posts.
#143,130
https://www.forexfactory.com/thread/...5#post14598885

#143,131
https://www.forexfactory.com/thread/...6#post14598886

#143,132
https://www.forexfactory.com/thread/...9#post14598889

then next important process is the update my trade plan with the market news / events:

#143,140
https://www.forexfactory.com/thread/...1#post14599331



then my trade plan for Oct02 was this post
#143,142
https://www.forexfactory.com/thread/...7#post14599337

For Oct02 opening,
I picked EU and GU for TMS 5-Method trading according to Big E' 4hr rule i.e. trading the same trading hours like him.
And knowing the #647 Weekly Top Down Analysis WTDA and prepare my Oct02 trade plan.

My trading process is the same I follow everyday ... for all my day-trading, swing trading and position trading.

Keep It Simple : Have a time-tested process that produce consistent profitable trading results and follow that same process.


...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #143,164
  • Oct 2, 2023 7:08pm Oct 2, 2023 7:08pm
Quoting heispark
{quote} I think user Inthebox's explanation sounds more logical and makes sense than your or OP's TDI cross, angle, ..bla bla crap. https://www.forexfactory.com/thread/...2#post14600502 Your picture just reminded me of his approach although that's also nothing new. Breakout traders cannot prosper in the long run.
Hi Heispark,

I agree that breakout trades can be at disadvantage sometimes. Entering trades upon breakout is like chasing the price as it breaks a range. It is useful in strong trend but as we know the market is not always the case.

BigE’s TMS method, and the method by InTheBox as you mentioned, are more like trading the “fail” from breakouts. If you review TMS charts and ITB’s, the trade plan is price fail to break range high and sell, expecting price to reach range low or pass the low. this is one form of the setups.

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  • #143,165
  • Oct 2, 2023 7:14pm Oct 2, 2023 7:14pm
Quoting Tekkies
Finding it kind of amusing: https://www.priceactionninja.com/james16-trading-guide/ "Back then, the idea of trading from a blank chart with no indicators was an alien concept to most traders." Post 2 > First chart posted has 5 indicators. ----- Vincent like to use > post #2617... now strip down everything on that chart at that point... Have any readers checked how many indicators does Vincent use to trade with? (Have stopped counting at 8 indicators) Take note. (When...

hey @Tekkies

You need to read my posts and study those charts.

You want to follow the way I trade then you have first to understand my charts without Stoch and TDI like the ones I posted

then my trade plan for Oct02 was this post
#143,142
https://www.forexfactory.com/thread/...7#post14599337

If you want live trade signals you can join one of the Telegram groups by other members here.
Just make a simple post request here and let the Telegram groups lead/admin invite you via PM.
I post my trade plans and update them live.

If anyone here wishes to start your own Telegram trading groups, feel free to and IF you think I can be of support you can always invite me to be in your group.

Here I only post a few trade plans like yesterday I posted EU and GU.

...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #143,166
  • Oct 2, 2023 7:16pm Oct 2, 2023 7:16pm
Quoting oradba
A followup to my earlier post about the importance of understanding price action. Please note the 'bad' DBLHC trade ("can't win 'em all") did not have a corresponding signal in the TDI indicator - if anything, there was a bit of divergence. {image}
Hi Oradba,

That is why BigE developed TMS method and use TDI green and red lines with price action confirmation. He could trade without any indicator but the TDI makes the method simple and more effective.

As you have shown, there were no TDI signals (TMS setups) at the ‘bad’ DBLHC trades. TMS traders could have avoided entering those losing trades.

It only takes a good trade to make the session. Better to have a method giving you accuracy than quantity.

trade well
  • #143,167
  • Oct 2, 2023 7:22pm Oct 2, 2023 7:22pm
Quoting tommydoginti
{quote} Hi Korosh1350, It would only take a good trade to make a session. ///
hey @tommydog....

Big E and I have the same trading coach back in the 1990s when we were trading the US markets.

Our trading coach told us this same thing back then. I shared this many times and more recently ...

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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #143,168
  • Oct 2, 2023 7:32pm Oct 2, 2023 7:32pm
Quoting oradba
A followup to my earlier post about the importance of understanding price action. Please note the 'bad' DBLHC trade ("can't win 'em all") did not have a corresponding signal in the TDI indicator - if anything, there was a bit of divergence. {image}
Another thing about Price Action.

DBLHC can only be confirmed as the candle close. It also has no information in the market trends, etc.

Same for TDI.

In BigE’s TMS, #647 includes the price actions to confirm TDI signals for a TMS setup. For instance, Previous highs and lows.
It can be done as the TDI signals come, or as previous h/l formed in the past, plan a future TMS trade and set alerts for that

trade well
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  • #143,169
  • Oct 2, 2023 7:34pm Oct 2, 2023 7:34pm
Quoting oradba
A followup to my earlier post about the importance of understanding price action. Please note the 'bad' DBLHC trade ("can't win 'em all") did not have a

Attached Image (click to enlarge)
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Quoting emmanuel7788
{quote} @oradba those DBHLC and DBLHC you marked do not meet the conditions for Double Bar High .... Double Bar Low they are engulfing candles and engulfing outside candles there were only two which meet 100% of the Double Bars Low ... in August BUT they were is market consolidation range which
...
corresponding signal in the TDI indicator - if anything, there was a bit of divergence. {image}[/quote]

@oradba

Next, study this chart below where I have the blue and red arrows,

what is the price action you see?

learn to read the candles prior to each of the arrows and spot those price action conditions and name the setups and how you would trade them when you see those setups in the future.

> "name the setups" is something traders do when they write their Blueprint for Trading Success.
> you should have 5 to 10 setups in your Blueprint for Trading Success.

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...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #143,170
  • Oct 2, 2023 7:50pm Oct 2, 2023 7:50pm
Quoting tommydoginti
{quote} Another thing about Price Action. DBLHC can only be confirmed as the candle close. It also has no information in the market trends, etc. Same for TDI. In BigE’s TMS, #647 includes the price actions to confirm TDI signals for a TMS setup. For instance, Previous highs and lows. It can be done as the TDI signals come, or as previous h/l formed in the past, plan a future TMS trade and set alerts for that trade well {image}

hey @tommydog....

I don't see any DHLHC on your EU chart.
DBLHC are very distinct PA HA candles if you spot them and trade them correctly. There are no True REVERSAL candle in most of the cases but are CONTINUATION setups in an established swing of more than 3 to 8 candles or in a new trend after a True REEVRSAL.

post#647 is what the OP consider as basics of trading 4X...
and that include some trading mastery skills to read multiple timeframes charts to determine the market type conditions.
Dr Alexander Elder has his Triple Screen System approach and Dr Van K Tharp has his Market Type systems approach.
Putting these together, we can develop TMS for higher success like what the Op said in #2617

EU Oct03 #647 Top Down Analysis - Market Trend

Attached Image (click to enlarge)
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Since you are still new to Big E' TMS 5-Method, you can consider using MT4 and see multiple charts like these below.
You mobile screen is simply too small to enable you to practice and develop your chartist skills. You need to see the candles details and zoom in and out farther.



Attached Image (click to enlarge)
Click to Enlarge Name: EU Oct 03 TMS 5-Method 3-10-2023 8-48-04 am.png Size: 37 KB



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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #143,171
  • Oct 2, 2023 8:10pm Oct 2, 2023 8:10pm
Quoting tommydoginti
{quote} Another thing about Price Action. DBLHC can only be confirmed as the candle close. It also has no information in the market trends, etc. Same for TDI. In BigE’s TMS, #647 includes the price actions to confirm TDI signals for a TMS setup. For instance, Previous highs and lows. It can be done as the TDI signals come, or as previous h/l formed in the past, plan a future TMS trade and set alerts for that trade well {image}

@tommydog....

go to your PC MT4 trading platform, there is a scanner tool to scan and check all the DBLHC and DBHLC in history charts.

EU has 3 DBLHC but all are small candles and in Master Candle which is consoliation according to Big E' post #647 ,,,big candle, small candles,...etc.

Attached Image (click to enlarge)
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Question has been and still is today,
> what do TMS 5-Method traders do when the market is in consolidation?
> Big E has the answer and you need to read his posts and find the answers.


...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #143,172
  • Oct 2, 2023 8:45pm Oct 2, 2023 8:45pm
Quoting kizan
{quote} Hi Emmanuel, thank you for your guidance!
you're most welcome @kizan.

the hardwork starts with you here.

I know many members here and those who have the commitment and make sacrifices have achieve something on their own.

They all spend 3 to 5 hours everyday for the 2 to 3 years , then they see the results of their own hardwork.

I am here to give everyone a helping hand at each step of the way.

To get to the summit is still farther up.

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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #143,173
  • Oct 2, 2023 9:01pm Oct 2, 2023 9:01pm
GA Oct03 H4 Tokyo 11am

- this is an example of the market type conditions where newbies should avoid trading the 4hr

- go look at other pairs

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#143,132
https://www.forexfactory.com/thread/...9#post14598889

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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #143,174
  • Oct 2, 2023 9:34pm Oct 2, 2023 9:34pm
Quoting heispark
{quote} I think user Inthebox's explanation sounds more logical and makes sense than your or OP's TDI cross, angle, ..bla bla crap. https://www.forexfactory.com/thread/...2#post14600502 Your picture just reminded me of his approach although that's also nothing new. Breakout traders cannot prosper in the long run.
About ITB’s method and not trading breakouts.

#647
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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  • #143,175
  • Oct 2, 2023 11:27pm Oct 2, 2023 11:27pm
Quoting heispark
{quote} I think user Inthebox's explanation sounds more logical and makes sense than your or OP's TDI cross, angle, ..bla bla crap. https://www.forexfactory.com/thread/...2#post14600502 Your picture just reminded me of his approach although that's also nothing new. Breakout traders cannot prosper in the long run.
@heispark

I LIKE!

his crap is simply regurgitating that highly over-rated post #647 which are just about the basics of trading forex....
there is nothing complex nor complicated in simple reading of candlesticks

...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #143,176
  • Oct 2, 2023 11:32pm Oct 2, 2023 11:32pm
Quoting tommydoginti
{quote} About ITB’s method and not trading breakouts. #647 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}

EurChf Oct03

> post #647 Weekly Top Down Analysis

>> the market is sideways ranging ... choppy

>>> go look for another pair with different Market Type 1 or 2 to trade Big E' TMS 5-Method.

>>>> wait for SNB meeting this week

Attached Image (click to enlarge)
Click to Enlarge Name: EurChf Oct03 market type conditions 3-10-2023 12-25-08 pm.png Size: 80 KB



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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #143,177
  • Oct 2, 2023 11:46pm Oct 2, 2023 11:46pm
Quoting tommydoginti
{quote} About ITB’s method and not trading breakouts. #647 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}

@tommydog....

- you got to learn how the read your candles

- there are different engulfing candles

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...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #143,178
  • Oct 2, 2023 11:50pm Oct 2, 2023 11:50pm
Quoting tommydoginti
{quote} About ITB’s method and not trading breakouts. #647 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}

@tommydog....

If you have trouble to read the candles

there are MT4 tools which scan all pairs and timeframes

for engulfing candle and engulfing outside candle

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...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #143,179
  • Oct 3, 2023 12:18am Oct 3, 2023 12:18am
Quoting Tekkies
{quote} What is the use, Tommy? No matter what you post, old Vincent has set his mind to destroy this simple method. > Not much ells to post about how to use TDI with BigE's advice in this thread. 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 {image}
That trading looks high risk trading indeed to me too. User Inthebox or other users with similar trading style should agree I believe......
Simplicity is the ultimate sophistication - Leonardo da Vinci
  • #143,180
  • Oct 3, 2023 1:25am Oct 3, 2023 1:25am
Quoting heispark
{quote} That trading looks high risk trading indeed to me too. User Inthebox or other users with similar trading style should agree I believe......
Hi Heispark,

you can elaborate, but if you study ITB’s Engulf Fail strategy you should also see a sell setup.

please don’t tell me you buy that market. XAUUSD in clear downtrend.

TMs traders can sell at TDI cross down with confirmation by price action.

trade well

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