{quote} Hello ZeruSwee, Welcome to the Trading Made Simple thread. From the questions you asked I suppose you have read BigE’s posts from page 1 onwardsYou can find some answers from my previous post back in 2011, which referenced the original posts from BigE for TMS rules. Will spend some time addressing your other inquiries later. Have a good weekend {quote} The way I practice TMS can be found in the following posts by BigE, No need to add any more craps like gambling EAs and indicators. 1. TDI is heart of the TMS 5-method --- #261,...
- #147,123
- Jul 6, 2024 8:44pm Jul 6, 2024 8:44pm
- Joined Nov 2008 | Status: Trader | 50,196 Posts
{quote} Hi emmanuel7788, I am very honored that you still remember me. Due to work reasons, I had less time to trade before, so I preferred MEME's trading method at that time, but I tried it many times, and each time I would encounter a big loss after a period of profit. TMS is the only trading system I have been paying attention to on FOREXFACTORY. This year, I have been able to spend more time on trading. To me, you and tommydoginti are both very successful traders, and I hope to learn a lot from you. I keep reading your posts and learned a lot...
hi @kevinfeng
A few points in your post which I will address this week.
1) TMS is not a system until you follow Big E' early post in Forex Factory and learn to develop your own winning system that fits you only. The trading methodology is the 5-Method which is Price Action naked chart trading which Big E and I learned back in the 90s from the same trading coach named Lance Beggs. Read this Post #296 and take notes, and start work on developing your winning trading system.
2) TMS MEME is a Money Management based system strategy and trade using the same 5-Method. You will also learn to develop trading systems based on different money management strategies.
TMS MEME is based on the CashFlow
model. We all learned from the project CI500 and why TMS MEME will fail when trading with small accounts. TMS MEME needs a minimum account size USD5,000 for each currency pair and we need %risk management and Position Sizing.
You can prevent big losses in different ways,
a) Use %risk for every trade basket and trade small lot size.
b) Use profit-lock. You decide the percent amount of your profit-lock.
c) Use 2CLB on week timeframe for the Cut-Loss
3) You do not need to trade often. Just take the advice of the OP and follow the 4Hr and Daily Price Action , and trade only the market hours from Tokyo 1PM just after the Tokyo lunch hour till the London market close at 6pm. Follow the Market Type conditions, if the Weekly is Sideways Narrow Range , Do Not trade and look for better trending pairs. This way you will avoid losses and have more +2R to +5R winners.
4) Look for pairs which have the potential to "Let Profit Run" . These trades will yield +9R to +12R profits and you need only 3 to 5 such trades every year. Remember what Big E said about finding trades and to have the Traders Edge.
5) Remember this post #2617 and when you are ready for higher success, you can trade the 5-Method without the TDI. @tommydoginti is not there yet and all charts have the TDI without the Traders Edge. It is the same what happened to many members here during Big E' time, after the initial exuberant and euphoria they all lost money and no longer trading.
Stay Tuned for more when the market is open.
...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #147,124
- Jul 6, 2024 8:55pm Jul 6, 2024 8:55pm
- Joined Nov 2008 | Status: Trader | 50,196 Posts
{quote} Im ready whenever you are, i trade during those hours so its good for me and how can i expect the explanations and their forms? Is it best for me to ask questions or what? And why exactly trade these mentioned pairs and indexes its only the us market and why not the main 8 pairs OP mentioned before or alot of pairs that you mentioned before? Also now that im trading on a small funded accounts i cannot trade full lots only trying to trade 0,5% per trade
I am ready all the any time, all the time and on a Sunday.
Start the week with the calendar.
We can trade the same 8 pairs like the OP.
- Weekly chart, know the Market Type using the Weekly chart price action
- Which pairs are Trending
- Which pairs are Sideways Ranging
coming up next,
- Money Management / Mastering Risk Management Techniques
...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #147,125
- Jul 6, 2024 9:01pm Jul 6, 2024 9:01pm
- Joined Nov 2008 | Status: Trader | 50,196 Posts
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #147,126
- Jul 7, 2024 1:24am Jul 7, 2024 1:24am
- Joined Nov 2008 | Status: Trader | 50,196 Posts
{quote} How to calculate Take Profit (TP) ? > Use market volatility e.g. the ATR of the timeframe of your trades. > determine the total risk 'R' of your trade in dollars for Position Sizing. > then set your Stop Loss at the point of your trade entry EP. > your Stop Loss can be 2x times your ATR(10) > your Take Profit to be in multiple of your risk 'R' EU H4 trade example, > the Set-Up candle which closed above the 5EMA. > entry is the next candle open. {image} >>> the above trade is a classic 5bars swing low with True REVERSAL and an Inside Bar...
Weekend Review Week 27
This EU trade ran up to +4R
Anyone here know how to see that potential of that trade setup?
Post how you would determine if any trade setup has the potential to run +5R to +9R.
If you have followed my post on Monday July 03, you would have learn some trading tricks of trader with the Traders Edge like Big E and that has nothing to do with how to finding the trend and the crap HL HH LH LL which does not work 100% of the time.
> post #147,034
...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #147,128
- Jul 7, 2024 2:35am Jul 7, 2024 2:35am
- Joined Nov 2008 | Status: Trader | 50,196 Posts
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #147,129
- Jul 7, 2024 2:46am Jul 7, 2024 2:46am
- Joined Nov 2008 | Status: Trader | 50,196 Posts
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #147,131
- Jul 7, 2024 9:02pm Jul 7, 2024 9:02pm
- Joined Nov 2008 | Status: Trader | 50,196 Posts
{quote} Hey heres my view on the market types! Im swapping original pair uj to xau because my broker does not let me trade it :/ so yeah if thats okey with you?. Now the market types: XAU trending bullish EU ranging AU ranging from price action looks like its about to trend bullish GU sideways EJ bullish trend AJ bullish trend EG bearish trend UC ranging If in wrong somewhere please correct me want to learn to see what i dont and what i need to see! Ganna try watching the video as soon as possible abit tricky to manage time in a vacation but will...
Quiet (not volatile) and Volatile
It can be sideways wide ranging ... UP or Down
It can be sideways narrow ranging ... Up or Down <<< avoid this >>>
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #147,132
- Jul 7, 2024 9:11pm Jul 7, 2024 9:11pm
- Joined Nov 2008 | Status: Trader | 50,196 Posts
AU Jul08 H1 BUEOB
- this 1Hr is the new 4Hr candle
- a Bullish Engulfing Outside Bar candle has price MOMENTUM therefore both the Stoch(8,3,3) and the RSI green price line will show a positive slope.
- the Stoch(8,3,3) slope 12-2 angle is good, but check the higher timeframes H4, Daily, ...
- the RSI green line slope 12-2 is required to confirm the MOMENTUM for a 5-Method setup condition
- always look left for the previous price action PPA for the swing highs and swing lows,
- market may not be trending but if the recent swing highs and swing lows are wide range between them, then it is good to take a trade,
- this 1Hr setup is risky because we have the Friday' NFP big candle,
...
- this 1Hr is the new 4Hr candle
- a Bullish Engulfing Outside Bar candle has price MOMENTUM therefore both the Stoch(8,3,3) and the RSI green price line will show a positive slope.
- the Stoch(8,3,3) slope 12-2 angle is good, but check the higher timeframes H4, Daily, ...
- the RSI green line slope 12-2 is required to confirm the MOMENTUM for a 5-Method setup condition
- always look left for the previous price action PPA for the swing highs and swing lows,
- market may not be trending but if the recent swing highs and swing lows are wide range between them, then it is good to take a trade,
- this 1Hr setup is risky because we have the Friday' NFP big candle,
...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #147,133
- Jul 7, 2024 9:27pm Jul 7, 2024 9:27pm
- Joined Nov 2008 | Status: Trader | 50,196 Posts
{quote} Another possible bonus for July - August months, USDCAD Daily Week 28 to Week 35: we trade TMS_EVO_IX 2024/2025/2026 3-years trading cycle {image} ...
USDCAD Week 28 Jul08
- sell
...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #147,134
- Jul 7, 2024 9:32pm Jul 7, 2024 9:32pm
- Joined Nov 2008 | Status: Trader | 50,196 Posts
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #147,135
- Jul 7, 2024 9:37pm Jul 7, 2024 9:37pm
- Joined Nov 2008 | Status: Trader | 50,196 Posts
{quote} USDCAD Week 28 Jul08 - sell {image} ...
USDCAD Jul08 1Hr
- H1 price action Bearish Engulfing Outside Bar HA candle
- first sell of this week
- TMS MEME next sell would be during the next 4Hr trade window, there are rules to follow,...
...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #147,136
- Jul 8, 2024 2:05am Jul 8, 2024 2:05am
- Joined Oct 2020 | Status: Trader | 3,886 Posts
{quote} Appreciate this material opened my eyes and thought more about risk management! I was maily trading lotto model 0,5% per trade and insurance when was revenge trading but now ganna do lotto 0,5% per day to stay longer in the game learn in improve but mainly this is for trending markets but would like to read about more management strategies or hear yours and to develop ranging market money management system! Ganna also re read some OP posts and maybe make my own strategy but want to learn more about management and improve the system with...
One thing you can keep track of your progress is see how your profitability performs and changes.
To give you an idea, I trade TMS since 2021.
For the first 2 years I risk ~0.2% per trade. Then switched to prop firm trading.
Last year I traded with personal account again, +100% in 156 trades with ~1% risk per trade.
If you risk 0.5% per trade, you can expect to double account in ~300 trades.
Another parameter is profit factor.
You should expect to start with ~1.5-1.6. Depending on your progress you can get up to 2 or higher. Below is the 2021-22 track performance before switching to prop firm account.
#118259 April 2021
#120423 Jun 2021
#122413 Jul 2021
#125343 Sep 2021 (Risk of Ruin info showing the risk per trade as ~0.18%)
#125738 Sep/Oct2021
#129143 Feb 2022
#129657
Trade well.
- #147,137
- Jul 8, 2024 2:17am Jul 8, 2024 2:17am
- Joined Oct 2020 | Status: Trader | 3,886 Posts
{quote} Hi emmanuel7788, I am very honored that you still remember me. Due to work reasons, I had less time to trade before, so I preferred MEME's trading method at that time, but I tried it many times, and each time I would encounter a big loss after a period of profit. TMS is the only trading system I have been paying attention to on FOREXFACTORY. This year, I have been able to spend more time on trading. To me, you and tommydoginti are both very successful traders, and I hope to learn a lot from you. I keep reading your posts and learned a lot...
Hi Kevinfeng,
You got the right mindset in trading BigE’s TMS method: Keep trading simple.
The TDI signals are the timing to trade executions.
Price Actions to confirm trade direction and SL, etc.
Decide your trade direction, and just enter when TDI signals appears as price moves in direction of the trend with momentum. It is like you watch the traffic light when crossing a junction.
8 out of 10 positions would be in profit zone.
When the PA does not confirm the trend anymore, you can simply stop and wait for next setup. You will also know it when you start getting loss trades as price breaks previous H/L ( your stoploss)
For me, I would just trade the first few signals. The win rate is higher and you don’t need to trade that many positions to get good profit.
trade well
- #147,139
- Jul 8, 2024 3:13am Jul 8, 2024 3:13am
- Joined Nov 2008 | Status: Trader | 50,196 Posts
{quote} Hey heres my view on the market types! Im swapping original pair uj to xau because my broker does not let me trade it :/ so yeah if thats okey with you?. Now the market types: XAU trending bullish EU ranging AU ranging from price action looks like its about to trend bullish GU sideways EJ bullish trend AJ bullish trend EG bearish trend UC ranging If in wrong somewhere please correct me want to learn to see what i dont and what i need to see! Ganna try watching the video as soon as possible abit tricky to manage time in a vacation but will...
TMS Monitor H1 at London 9am
- still in the Pacific 10PM 4Hr candle
- its easy when you have done your trade plan for this week
...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #147,140
- Jul 8, 2024 3:15am Jul 8, 2024 3:15am
- Joined Nov 2008 | Status: Trader | 50,196 Posts
{quote} TMS Monitor H1 at London 9am - still in the Pacific 10PM 4Hr candle - its easy when you have done your trade plan for this week {image} ...
EU Jul08 H1 London 9am
- risky trade but ...
...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett