Trading Made Simple

Do you have a trade plan for EurJpy 4Hr London 10am, Pacific 2am?

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UJ sell taken this morning, tp was set at 1:5 and it missed it by less than a pip, I took it out at 1:4 in the end.

@lynnc

trading for more than 5 years and you are still struggling with consistency trading TMS 5-Method.

remember the OP' post #2617.

follow simple rules for entries and exits.

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XAU Apr16

its one of those crazy trendy market days,

closing my TMS-II trades at BRN 3300.

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now looking for buy entries


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GOLD is too hot...

- don't miss the bull run, take the swing,

- making new highs

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EJ Apr16 4HR

- only one reason why that setup failed.




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TMS 8 pairs, April 17 Daily

- Price Action setups ... with MOMENTUM

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Seems that some people are confused by my m5 chart so I will post the H1 and H4 charts instead, as they make it easier to see the reasons for entry and exit. I will though still be entering on m5/m15 as the stop losses are smaller. First vertical line is the entry and second line is the exit.

@lynnc

Well some people may be confused by your first post M5 chart.

But you are still confused with this thread' title "Trading Made Simple" and we are trading the 5-Method here in this thread. post #5

If you had started looking for trade on your H4 chart, then you should not be taking any trade even on M5 and M15.

Your H4 chart,
after the last big move down ... swing high, swing low, the market traded in small candles ....
if you had read all the OP's posts, he would not be trading these small candles,
the OP would wait for better market conditions to trade,

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Your H1 chart
same if you would have started on your H4,
then there is no trade on H1 ...
OP would say "go look at others pairs for trades"


Your M5 chart:
Your M5 chart tell another story of you mixing other methods into this trade,
at your entry candle there was no swing high, the swing high came candles later,
the market went against your sell entry in the next candle.
The TDI at your sell entry also look 'iffy' no 4-6 angle, no momentum , etc.



Trading M5 and M15 entries is not about smaller stop loss. This is the mistake most new traders and beginners make.
The OP explained this in his old thread.


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Hey Emmanuel, first and foremost, I'd like to express my sincere gratitude for your significant contributions here on Forex Factory, particularly regarding the TMS 5-Method. Your willingness to share your knowledge is greatly appreciated by many, including myself.
In my own search for a potentially profitable trading strategy, I've recently decided to focus my efforts on learning the TMS 5-Method.

Over the last couple of days, I've immersed myself in the available material. I've read through both "Best of Big E" PDFs and have been actively reading posts within this thread. While the thread is vast, and I haven't read every single post yet, I've dedicated significant time to understanding the core concepts. I've also completed setting up my MT4 charts with the required indicators, monitor, mtf_v19, etc.

I have some questions about the strategy that I still cannot wrap my mind around them.

Trade/Money/Risk Management:
1. From what I understand, you set up SL on one of the candles before? Do you have in mind a maximum number of pips? If I remember correctly, Big E said that he exits after 15 pips in the opposite direction, so kind of 15 pips SL?
2. From your experience, how much do you usually risk per trade?
3. Could you share some insight into typical losing streaks? Approximately how many consecutive losses might occur, and how frequently do such periods tend to happen?
4. While we are at this, does it usually happen to not have a signal/ trade for multiple days in a row?
5. Do you use and EA for trade management? If yes, can you please share it with us & provide any details about how you use it?

Price Action:
1. From your experience, what are the most common P/A "patterns" that a beginner should look for most of the time?
2. Did I understand it correctly that P/A is more important than the TDI indicator? For example, even if all the indicators (ex. Watchdog, tdi, stoch, histo etc.) signal a good trade, if the P/A doesn't agree, one should not enter the trade.

Mistakes:
1. What are the most common mistakes that most beginners, and maybe even experienced TMS traders, make regarding P/A, or any other aspect, that if changed could make them profitable? (I want to avoid this mistakes from the beginning, if possible haha).

Also, since you trade it for so long, how profitable is this strategy for you?

These are my questions for now, I know that they are a lot. I totally understand if you don't have time, or if you simply don't want to answer them, I still appreciate all the things you do here on this thread!

EURGBP Apr17

M15 DBHLC in the 4Hr Swing





> come back next week on Wednesday Apr 23





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Thursday, April 17

Tokyo 2pm, London 6am, Pacific 10pm

Pick only the best A+++ setup

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AU Apr17 4HR
- its not without some risks
- mitigate with risk control,
- simple rules for entries and exits,
- improve win rate,

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I agree with Edwdev, great resource and thank you for all the contributions and ongoing market analysis, incredibly helpful! I'm still trialling this in Demo on MT5 without the TMS monitor (but I might look into that) and it's performing well.

I traded this last night thinking it was a gd setup, what did you see there that it was to fail? I thought it looked pretty good!

Many thanks

Been making decent returns from gold

just basic PA and fundamentals.

A very nervous market opening this Monday,

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Gold investment is safe haven and good hedge against AUD based-asset since fell from Parity.

Short-term trading spot-gold is another story. You can long and short in the same week and still make money.

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today is Apr 21 London 8am

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EJ 4Hr Apr 21 London 10am

- is bounce trade better than reversal trade?

- look left for most recent swing lows and if current PA break most recent swing low' candle_1, than all is good

- BUT ... the risk is the further left swing highs to consider

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Edit.




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EG Apr 22 4Hr Tokyo 10am

- look the the most recent swing highs and swing lows

- do you see the 'pattern' ?

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Compare these two 4Hr charts and the TMS_V19 information.

IF you know the differences, then you are getting somewhere.








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