Preparing for New York session ...
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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #148,502
- Oct 15, 2024 6:27am Oct 15, 2024 6:27am
- Joined Nov 2008 | Status: Trader | 50,194 Posts
Preparing for New York session ... {image} ...
Lots of 1Hr signals but we trade only the best setups which meet the ten(10) criteria
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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #148,503
- Oct 15, 2024 6:32am Oct 15, 2024 6:32am
- Joined Nov 2008 | Status: Trader | 50,194 Posts
{quote} GER30 Oct11 TMS-II Trades Closed - 3 entries, 3 exits +4R, +5R and +7R
{image}
{image} ...
Looking for trades ... New York 9:30am
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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #148,504
- Oct 15, 2024 6:35am Oct 15, 2024 6:35am
- Joined Nov 2008 | Status: Trader | 50,194 Posts
US500 Oct15
- market has been bullish
- waiting for NYSE open
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- market has been bullish
- waiting for NYSE open
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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #148,506
- Oct 15, 2024 6:42am Oct 15, 2024 6:42am
- Joined Nov 2008 | Status: Trader | 50,194 Posts
{quote} what do you mean by 10 criteria?
one of the ten(10) criteria is price MOMENTUM which the OP refers to the 'best slope' or steepest slope.
#7664
- hindsight paper trading we can all learn from
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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #148,507
- Oct 15, 2024 7:25am Oct 15, 2024 7:25am
- Joined Oct 2020 | Status: Trader | 3,886 Posts
{quote} I got questions about trading BigE’s TMS method in ranging market. Basically still following BigE’s post #647, but focus more on the range highs and lows, and the HHHL/LHLL forming within. {image} Three key elements I use to trade TMS in range 1. Previous Highs and Lows 2. Rejections 3. TDI cross signals {image} Lastly, if the range is too small and the trading cost becomes significant, you can consider to wait for price picking up volatility again. My personal preference is ~20pips or more for TP, >=1R before cost.
Follow up on GU.
Trading ranging market with TMS, go for rejections at previous highs and lows.
TDI cross from 32/68 levels are BigE’s favourite setups with high chance of success.
Confirmation with price actions in post #647, especially the previous highs and lows rejections
- #148,508
- Oct 15, 2024 7:33am Oct 15, 2024 7:33am
- Joined Oct 2020 | Status: Trader | 3,886 Posts
{quote} Lots of 1Hr signals but we trade only the best setups which meet the ten(10) criteria {image} ...
You only need 1 signal to enter a trade. You only need 1 winning trade to make it a day.
You also do not need 10 criteria to enter trade to profit.
Start with 4 as of BigE's TMS method from Post #647
Previous Highs and Lows
Trend
Rejections and last reversals
TDI signal entries
Now with only one (1) criteria, you could avoid this "nice" trading mistake you made. That is Trend.
- #148,509
- Oct 15, 2024 8:21am Oct 15, 2024 8:21am
- Joined Oct 2020 | Status: Trader | 3,886 Posts
{quote} Feedback on recent PMs It is good to hear from fellow traders from Hong Kong. With COVID restriction opening up, and due to my nature of day job, I will be staying in Taiwan for significant amount of time in the year, going back and forth two place in between business trips. some comments on a few inquiries. 1. I agree with the idea that a few of the methods shared on FF can work. The essence is the rules to be followed and executed. For instance in TMS, some traders are complicating the trading with “advanced”, “better” indicators, etc,...
The drawback I can think of is mobile MT4’s limitation in chart customisation for indicators.
To work around it I use mobile TradingView to analyse and annotate. Only switch to MT4 for trade execution.
For TMS, the most important indicator is the TDI green and red lines. Other TMS elements are price actions needing just the original charts.
my old post on how to set up TMS charts on mobile MT4 and TradingView
post #130851
I also post FF with phones. So can be trading and posting anywhere anytime.
Greeting from Taipei city close to Xinyi district. Some long time members may know I am from Hong Kong, but I rented a place in Taipei for new experience in another place.
- #148,511
- Oct 15, 2024 11:03am Oct 15, 2024 11:03am
- Joined Oct 2020 | Status: Trader | 3,886 Posts
{quote} {image} Follow up on GU. Trading ranging market with TMS, go for rejections at previous highs and lows. TDI cross from 32/68 levels are BigE’s favourite setups with high chance of success. Confirmation with price actions in post #647, especially the previous highs and lows rejections {image} {image}
Previous highs and lows
Trends
Rejections
TDI cross signals
Enter at TDI signals when all criteria fulfilled
- #148,512
- Oct 15, 2024 11:08am Oct 15, 2024 11:08am
- Joined Oct 2020 | Status: Trader | 3,886 Posts
{quote} I m thinking why is it called 5-method and is there any different with the big E's TDI approach? I see in here that the big E states TDI isn't that important for the 5 method. Then what's the point of using the TDI?
BigE first introduced the 5-method in another thread, then he opened this TMS thread carrying over and refining the method into the TMS method.
Here is the post explaining.
{quote} I received messages about confusion of BigE's 5-Method and its relationship with the Trading Made Simple (TMS) system. One main concern is whether the TDI is involved in BigE's 5-Method. The answer is Yes. TDI is used in TMS 5-Method. Stripping it down is another story which hasn't happened when BigE was around. Here is the original 5-Method as described by BigE. Note its similarity with the TMS as it was introduced after the following post. #3018 {image}
One main concern is whether the TDI is involved in BigE's 5-Method.
The answer is Yes. TDI is used in TMS 5-Method. Stripping it down is another story which hasn't happened when BigE was around.
Here is the original 5-Method as described by BigE. Note its similarity with the TMS as it was introduced after the following post.
#3018
- #148,515
- Oct 15, 2024 3:00pm Oct 15, 2024 3:00pm
- Joined Nov 2008 | Status: Trader | 50,194 Posts
US500 Oct15 - market has been bullish - waiting for NYSE open {image}
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All you need is one good trade to close the NYSE session.
- closing the 4hr trade
- a +7R trade is huge bonus for those who had a trade plan B
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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #148,516
- Oct 15, 2024 3:10pm Oct 15, 2024 3:10pm
- Joined Nov 2008 | Status: Trader | 50,194 Posts
{quote} Hi Tony228, BigE first introduced the 5-method in another thread, then he opened this TMS thread carrying over and refining the method into the TMS method. Here is the post explaining. {quote} I received messages about confusion of BigE's 5-Method and its relationship with the Trading Made Simple (TMS) system. One main concern is whether the TDI is involved in BigE's 5-Method. The answer is Yes. TDI is used in TMS 5-Method. Stripping it down is another story which hasn't happened when BigE was around. Here is the original...
@tommydog... you obviously do not know the 5-Method and its original source where and when it started.
TMS= Trading Made Simple ... the title of this thread. Its is not a trading system.
You are very confused by those voices you keep hearing in your head. That's schizophrenia. Those messages were sent from voices in your head.
Read the OP' post #5
Stop posting bullshit here.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #148,517
- Oct 15, 2024 3:23pm Oct 15, 2024 3:23pm
- Joined Nov 2008 | Status: Trader | 50,194 Posts
{quote} you said tdi was so bearish? did that help to go in long as just the PA was telling you? {image}
back to your previous post #148,453 below:
> the TDI did not look good....
so we rely on the Big Picture and the Price Action ,
and the H1 chart shows swing highs and swing lows, and two swings within previous swings is the first sign of trouble.
the Day Inside Bar on Oct 11 is a good indication that the market is in consolidation range.
Question is how do 5-Method traders trade this Market Type condition.
Price Action for setups and entries is how 5-Method traders would follow and ignore the oscillators like the Stochastics and RSI,...
The OP has a very simple solution when the TDI does not look good.
One part of his solution is in post #2617.
there is another part of his solution ... you will find in his 19 chart templates.
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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #148,518
- Oct 15, 2024 3:38pm Oct 15, 2024 3:38pm
- Joined Nov 2008 | Status: Trader | 50,194 Posts
{quote} GN Oct 15 London Open UPDATE: - should be easy decision when you follow the Triple Screen trading approach {image} ...
GN Oct16 day trading
- IF you only trade once-per-day
- you have one chance to make a +5R trade
- the battle line is @21500
- and you have the next 24 hours candles for an entry
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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #148,519
- Oct 15, 2024 3:49pm Oct 15, 2024 3:49pm
- Joined Nov 2008 | Status: Trader | 50,194 Posts
{quote} GN Oct16 day trading - IF you only trade once-per-day - you have one chance to make a +5R trade - the battle line is @21500 - and you have the next 24 hours candles for an entry {image} ...
you only need a Win Rate of 32% you can be very rich
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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #148,520
- Oct 15, 2024 3:56pm Oct 15, 2024 3:56pm
- Joined Nov 2008 | Status: Trader | 50,194 Posts
{quote} it's about how well you know about post 647
GN Oct16 4Hr nr4IB
- how well do you know how to trade this nr4IB ?
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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett