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Trading Made Simple

  • #9,161
  • Aug 2, 2011 7:23am Aug 2, 2011 7:23am
Quoting dean
Your first chart is not an entry...not even close...the AU chart you have marked is on the 4th candle
Its the 2nd candle not the 4th. check again.
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  • #9,162
  • Aug 2, 2011 7:34am Aug 2, 2011 7:34am
Quoting bishopdotun
Its the 2nd candle not the 4th. check again.
Watching you 2 talking apples & oranges here; I think one means 4 th colored candle & the other means 2 nd candle since crossover?
OPPORTUNITY IS NOWHERE
  • #9,163
  • Aug 2, 2011 7:42am Aug 2, 2011 7:42am
Quoting dean
Is anybody on the NZ/US 4 hour??
Comments please
Dean - been watching this one for a while and waiting for it to reverse - still not convinced that his is anything more than a resting point seeing as the USD is not performing on any of the fundamentals right now. If it breaks and hold below 8600 then it looks good - otherwise I'll leave it for now.
"To live with Passion, it takes Courage and Grace to survive"
  • #9,164
  • Aug 2, 2011 7:43am Aug 2, 2011 7:43am
Good morning everyone. I am new on the forum, thank you to the Big E, and to all who have helped in understanding sistemy. health Big E and reverence. I want to ask, at first glance stupid.
bishopdotun say that you are using a sharp pointed crosses TDI corners. you words (I trade only sharp angle crosses). you look use the angles between the green and the red line or the angle of the green before the cross. Please sorry in English is weak.
  • #9,165
  • Aug 2, 2011 8:07am Aug 2, 2011 8:07am
Quoting Julia UA
Good morning everyone. I am new on the forum, thank you to the Big E, and to all who have helped in understanding sistemy. health Big E and reverence. I want to ask, at first glance stupid.
bishopdotun say that you are using a sharp pointed crosses TDI corners. you words (I trade only sharp angle crosses). you look use the angles between the green and the red line or the angle of the green before the cross. Please sorry in English is weak.
1. Read the first 50 posts on this forum.
2. I use angle of both. but the green obviously will be steeper.

look at the lines on the chart below and the slope of the crosses.

I hope that's clear. Look at old charts too.

and keep practicing.
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  • #9,166
  • Aug 2, 2011 8:48am Aug 2, 2011 8:48am
Yeah, thanks everything is clear. Forum had read. now watch old charts and practice,practice. Obtained result while not as I want. but I will train hard for success.
  • #9,167
  • Aug 2, 2011 11:24am Aug 2, 2011 11:24am
Hi all,
I first want to say that TMS is a very good system, no doubt at all-even I have 58% wins and I am in forex for 6 months. However , there is one issue that I experiance over and over. As recomended, I use 4h TF on demo. Got used to it as it is less stress compared to lower TF. Better I became, I was preparing myself to start real trading, but there is always a reality check- I simply can't afford 60 or 80 pips SL on real, on demo this is no problem of course. Numerous times I had been stopped out and watched how price turns in my favor riding for 80 or more pips (last time today with USDCHF). Except drilling down to lower TF=more stress +more times by the PC, does anyone have similar experience and/or advice to override this?
Tx in advance (sorry if my English is not ok)
  • #9,168
  • Aug 2, 2011 11:53am Aug 2, 2011 11:53am
Quoting ivanhoekg
Hi all,
I first want to say that TMS is a very good system, no doubt at all-even I have 58% wins and I am in forex for 6 months. However , there is one issue that I experiance over and over. As recomended, I use 4h TF on demo. Got used to it as it is less stress compared to lower TF. Better I became, I was preparing myself to start real trading, but there is always a reality check- I simply can't afford 60 or 80 pips SL on real, on demo this is no problem of course. Numerous times I had been stopped out and watched how price turns in my favor riding...
I've been in your shoes before and I'm about go there again soon. I would recommend using the H4 charts but cutting down on your lot sizes. Why don't you trade maybe .02 or .03 lots and get comfortable with the live trading. Once you see that you can trade this system live and consistantly and you've built up your account, you can slightly increase your lots sizes. Don't arbitrarily decrease your stop loss just to feel more comfortable, otherwise you'll just be stopped out many of the times.
  • #9,169
  • Aug 2, 2011 12:07pm Aug 2, 2011 12:07pm
Quoting ivanhoekg
Hi all,
I first want to say that TMS is a very good system, no doubt at all-even I have 58% wins and I am in forex for 6 months. However , there is one issue that I experiance over and over. As recomended, I use 4h TF on demo. Got used to it as it is less stress compared to lower TF. Better I became, I was preparing myself to start real trading, but there is always a reality check- I simply can't afford 60 or 80 pips SL on real, on demo this is no problem of course. Numerous times I had been stopped out and watched how price turns in my favor riding...
Why can't you afford 60-80 pips? Just open an account and trade pennies for every pip. That's 60-80 cents stop loss..
  • #9,170
  • Aug 2, 2011 12:18pm Aug 2, 2011 12:18pm
Quoting ivanhoekg
Hi all,
I first want to say that TMS is a very good system, no doubt at all-even I have 58% wins and I am in forex for 6 months. However , there is one issue that I experiance over and over. As recomended, I use 4h TF on demo. Got used to it as it is less stress compared to lower TF. Better I became, I was preparing myself to start real trading, but there is always a reality check- I simply can't afford 60 or 80 pips SL on real, on demo this is no problem of course. Numerous times I had been stopped out and watched how price turns in my favor riding...
Another option is look at the trades - how many pulled back and rate how far they pulled back if say the ones that scream from entry were over whelming then a tight stop loss is fine b/c when you time it right there is no looking back. If you find a high % pulling back 30 pips before rocketing higher then go with that as your stop loss, if only a handful are stopping out at 80 pips then there is no reason to hold on for that trade, b/c lets say you get stopped out at 30pips and around 80 pips it signals re-entry you get in again saving yourself 50pips. If I recall correctly Big E was doing this with 10pips b/c he's seen that if it's going to go the other way against him he didn't want to stick with it. If you have been demo'ing for 6mos you should have enough data to decide what is an acceptable SL and which trades to balk at. Review your trade logs to uncover the mystery pattern, add a field to a trade journal for slope and location of TDI and/or stoch this way you can further refine which trade's SL was well positioned vs which was a crap shoot.

And if you have to check the 3-I's indicator...
(just kidding couldn't resist, 3-I's doesn't exist)

Hope this helps
  • #9,171
  • Edited 12:36pm Aug 2, 2011 12:25pm | Edited 12:36pm
Quoting The7
Why can't you afford 60-80 pips? Just open an account and trade pennies for every pip. That's 60-80 cents stop loss..
Kellera & 7
Sure I know about this, however, both are shortterm solutions in MHO. By this I mean you can't trade pennies and 0.02 forever. One of the axioms of the system is actualy SL at previous high/low, so even if I become a master of TMS I still have to face this issue.
Regards
  • #9,172
  • Aug 2, 2011 12:35pm Aug 2, 2011 12:35pm
Quoting FX-Trader
Another option is look at the trades - how many pulled back and rate how far they pulled back if say the ones that scream from entry were over whelming then a tight stop loss is fine b/c when you time it right there is no looking back. If you find a high % pulling back 30 pips before rocketing higher then go with that as your stop loss, if only a handful are stopping out at 80 pips then there is no reason to hold on for that trade, b/c lets say you get stopped out at 30pips and around 80 pips it signals re-entry you get in again saving yourself...
Will do so, thanks. In the beggining I used commercial system for daily trading, triggered on 5min or 15min -tight stops but to much stress though. Reentering and bounce trading TMS is enigma for me still, but watching the old data I learned that they are ok with the strong trend. Back to backtesting!
As for 3-I's I belive in only 2 (eyes)http://www.forexfactory.com/images/icons/icon10.gif
  • #9,173
  • Aug 2, 2011 12:38pm Aug 2, 2011 12:38pm
Thanks for this awesome system. I honestly struggled with it for a bit as I am new to forex. I started demOing in mid may went live mid June lost twenty percent. Took a step back and demo again manage to get 20 pips every other 3rd trade the rest would be smaller profit or negative trades. Then a light switch turned on and now I average 30-40pips a night. For the past two nights I have gotten 70+ pips. I thought I would never achieve this but did. I am now demoing with .10 ct a lot and demoing combine. I only trade 4hr and d1 charts. Thanks Big E!
Did you know the profiteers like their money green?
  • #9,174
  • Aug 2, 2011 1:28pm Aug 2, 2011 1:28pm
Quoting Surge-my-pip
Thanks for this awesome system. I honestly struggled with it for a bit as I am new to forex. I started demOing in mid may went live mid June lost twenty percent. Took a step back and demo again manage to get 20 pips every other 3rd trade the rest would be smaller profit or negative trades. Then a light switch turned on and now I average 30-40pips a night. For the past two nights I have gotten 70+ pips. I thought I would never achieve this but did. I am now demoing with .10 ct a lot and demoing combine. I only trade 4hr and d1 charts. Thanks Big...
Good job dude, however, past two days have been unusually great, probably for most traders. We won't have these pipfest days every day, but keep at it, I'm in similar situation, demoing diligently, having better percentage of wins now than before, and that's progress. Remember BigE's words: No fear! and no greed!
Many pips to ya!
  • #9,175
  • Aug 2, 2011 1:35pm Aug 2, 2011 1:35pm
Quoting bishopdotun
Switch to H4 & you'll see a bounce right on that candle. & on the H1, the slope went steep suddenly on a long candle.

I have looked at charts long enough to know thats a good one. I switch between Tfs during trades but H1 is a preferred one to enter my trades.

This works for me well.

Hope that's clear.
Learning alot from you, Thanks
  • #9,176
  • Aug 2, 2011 1:48pm Aug 2, 2011 1:48pm
Quoting Surge-my-pip
Thanks for this awesome system. I honestly struggled with it for a bit as I am new to forex. I started demOing in mid may went live mid June lost twenty percent. Took a step back and demo again manage to get 20 pips every other 3rd trade the rest would be smaller profit or negative trades. Then a light switch turned on and now I average 30-40pips a night. For the past two nights I have gotten 70+ pips. I thought I would never achieve this but did. I am now demoing with .10 ct a lot and demoing combine. I only trade 4hr and d1 charts. Thanks Big...
What was the light that went on? What made the difference? Because I am still struggling much like you were. Any help is appreciated.
  • #9,177
  • Edited 2:31pm Aug 2, 2011 2:00pm | Edited 2:31pm
Well, it's been hot in the kitchen as the CHeF's head south. Woke up here to an overnight trade on 4H EUR/CHF for 145 pips, and still in. Profit locked in. I missed the others. Basic stuff for some maybe, but encouraging for me, and with minimal bell's and whistle's. I'm finding the term 'The trend is your friend' to be making a lot of sense, takes any stress out of a trade, and profitable. Price action, combined with E bloke's TMS is looking good for this boofhead novice. Congratulations to others here who are putting in the study and making pips.

Hope you're well E, and sensible trading folk's.

G bloke.


EDIT: U/CHF now +170.

am also just in south on:

E/CHF +40
G/CHF +40
C/CHF +40
'Fail to plan, plan to fail'
  • #9,178
  • Aug 2, 2011 2:48pm Aug 2, 2011 2:48pm
Quoting pippete
Good job dude, however, past two days have been unusually great, probably for most traders. We won't have these pipfest days every day, but keep at it, I'm in similar situation, demoing diligently, having better percentage of wins now than before, and that's progress. Remember BigE's words: No fear! and no greed!
Many pips to ya!
THanks for the support. I hope to make enough pips to trade full time.
Did you know the profiteers like their money green?
  • #9,179
  • Aug 2, 2011 3:11pm Aug 2, 2011 3:11pm
Quoting msn
What was the light that went on? What made the difference? Because I am still struggling much like you were. Any help is appreciated.
A little background about me. I work full time and have very little time to post all my trade and etc. I do post what/when I can. So I may not post right away. I will help as much as I can but no promise.

My light turned on when I added an indicator from seller9 thread. TMA bands is what I use to det my TP but I follow ALL RULES OF TMS. this include the S/L. But I just use the bands to determine my TP. It worked for me, if it worked for you great. It took me a while before I found something that gave me a little bit more support. Which I needed. So far I haven't hit my SL, believe me I use to hit it a lot even though I followed the TMS rules. With these bands I take less trade and make more pips. Most importantly I am more confidence in my trades and no stress.
Did you know the profiteers like their money green?
  • #9,180
  • Aug 2, 2011 3:19pm Aug 2, 2011 3:19pm
I don't want to hijack EEL's thread. Send me a private messege and I'll give you a simple thing that will help you in a hugh way with this system. (It's not the 6 cci)


Quoting msn
What was the light that went on? What made the difference? Because I am still struggling much like you were. Any help is appreciated.
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