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  • #13,461
  • Nov 10, 2011 10:28am Nov 10, 2011 10:28am
What's the stochastic I keep seeing (above posted two charts) where the line shifts color? My MT4 doesn't seem to have that option... Thanks.
  • #13,462
  • Nov 10, 2011 12:01pm Nov 10, 2011 12:01pm
I just wanted to share that I've actually had some good success with this system, slightly modified, but only in its execution. Basically I place an order on the hour when the TDI histogram switches colors with a large stop loss (50 pips is usually more than enough) and a 20 to 75 pip PT (optional, depending on time of the day). I then check back right before the close of that hour and close my position (if its not closed already). Then I wait for the next color change before placing an order on that pair again.

It seems pretty brainless, but it seems to work fairly well. If its a loss, its usually around 8-12 pips, and gains are usually between 30 and 100 (hence why the PT is optional - there are some very large hourly bars).

On the picture, sorry, did it quickly - white diagonal slash is entry, white horizontal slash is exit. Just the Euro, very simple, mindless and profitable. I missed marking the little short before the big long, that was a +8 trade as well.
Attached Image (click to enlarge)
Click to Enlarge Name: EUR Today.gif Size: 22 KB
Small disciplines repeated with consistency lead to great achievements.
  • #13,463
  • Nov 10, 2011 12:10pm Nov 10, 2011 12:10pm
Quoting smash85
.. one more question:

if EU reverses today in a short term upward trend, would you pick this signal? I mean, there is some space to upper consolidation :-).
I know this is hindsight, however, using the chart as a lessons learned excercise, the tdi crossed on the H1 from a position of below the 32 level with a candle size of 85 that more than tripled the ATR(7) of 24.

Entering on the 1st candle gives you a valid entry, as would the second.

TP levels need to be considered given the EU patterns of late and TP set to 2XATR = 48 pips and would have been taken if your entry was the 2nd canldle. If you had 2 positions, the second could be moved to BE +5 at that time and allowed to run and would have been stopped out. All depends on your risk tolerance and where you would originally set your SL.

Conclusion - following just the H1 chart - valid entry.

Watch this pair for a resumption, especially if the 1,2,3, pattern is broken to the down side (obviously not a tms entry and not for this thread - but a good repeatable pattern along with fractal breaks)
Attached Image (click to enlarge)
Click to Enlarge Name: eu h1 tms purist version.gif Size: 20 KB
"To live with Passion, it takes Courage and Grace to survive"
  • #13,464
  • Nov 10, 2011 1:59pm Nov 10, 2011 1:59pm
Quoting jmflukeiii
I just wanted to share that I've actually had some good success with this system, slightly modified, but only in its execution. Basically I place an order on the hour when the TDI histogram switches colors with a large stop loss (50 pips is usually more than enough) and a 20 to 75 pip PT (optional, depending on time of the day). I then check back right before the close of that hour and close my position (if its not closed already). Then I wait for the next color change before placing an order on that pair again.
The trades you've shown seem to be on the bars where the histogram changes, yet you wouldn't know the histogram colour until that bar has closed.
  • #13,465
  • Nov 10, 2011 2:17pm Nov 10, 2011 2:17pm
Quoting zortan
The trades you've shown seem to be on the bars where the histogram changes, yet you wouldn't know the histogram colour until that bar has closed.
You, sir, are correct - the histogram does reprint. However, if you watch at the open of the bar, it indicates whether the green line is on top of the red or not in the actual TDI which does not reprint (if you use the original TDI Red Green which I do). So basically I am going off of the actual TDI, not the histogram, but as you can see, I'm disregarding the angle the green line crosses the trigger, which was a key part of the original system. Of course the higher the angle the better it seems, but I'm not looking for 100 pip trades. I'm looking for a simple way to get some pips. And getting out at the end of the bar will of course cut you out of the big runners, but it also removes the risk of a lot of reversals. I honestly trade this a couple times a week at most, but today I was tired and my eyes hurt so I put aside 1 min scalping and just did this.
Small disciplines repeated with consistency lead to great achievements.
  • #13,466
  • Nov 10, 2011 8:01pm Nov 10, 2011 8:01pm
Hi Everybody,

I am a new member based in Australia. I just installed the platform and will proceed to reading the detail in the thread.

Hope to contribute soon!
  • #13,467
  • Edited 8:58pm Nov 10, 2011 8:04pm | Edited 8:58pm
Quoting jmflukeiii
You, sir, are correct - the histogram does reprint. However, if you watch at the open of the bar, it indicates whether the green line is on top of the red or not in the actual TDI which does not reprint (if you use the original TDI Red Green which I do). So basically I am going off of the actual TDI, not the histogram, but as you can see, I'm disregarding the angle the green line crosses the trigger, which was a key part of the original system. Of course the higher the angle the better it seems, but I'm not looking for 100 pip trades. I'm looking...
Come on. Ok, I'm game. Lets test this magical TDI Red-Green that can foresee the future.
Reference chart:
http://www.forexfactory.com/attachme...1&d=1320955241
from this post:
http://www.forexfactory.com/showthre...62#post5122762

Opening of the candle.
Signal is short.
TDI Red-Green has green below red and is sloping downwards slightly.
TMS Histo Red.
Attached Image (click to enlarge)
Click to Enlarge Name: tdi_red_green_1.png Size: 24 KB


Open candle appears to be a reversal candle. Moving up.
Signal is still short.
TDI Red-Green has green below red and is sloping downwards slightly.
TMS Histo Red.
Attached Image (click to enlarge)
Click to Enlarge Name: tdi_red_green_2.png Size: 24 KB


Open candle still moving up.
TDI Red-Green still has green below red and is sloping downwards slightly.
TMS Histo now green, and correctly so. The trend has reversed.
Attached Image (click to enlarge)
Click to Enlarge Name: tdi_red_green_3.png Size: 24 KB


Open candle still moving up. Now larger than the preceding 18 candles.
TDI Red-Green still has green below red and is sloping downwards slightly.
TMS Histo green.
Attached Image (click to enlarge)
Click to Enlarge Name: tdi_red_green_5.png Size: 24 KB


Candle closed as a strong bullish candle.
TDI Red-Green still has green below red and has a slight slope down for the candle in question. It reverses with a sharp up slope for the new candle.
TMS Histo green.
Attached Image (click to enlarge)
Click to Enlarge Name: tdi_red_green_6_1.png Size: 25 KB


Chart refreshed. Presto Change-o!!!
TDI Red-Green has changed it's mind retroactively.
Now it is suddenly green over red with a strong up slope.
Enter at open of the closed candle and exit at close of the said candle for a neat 71 pips.
Attached Image (click to enlarge)
Click to Enlarge Name: tdi_red_green_7_1.png Size: 24 KB
  • #13,468
  • Nov 10, 2011 8:24pm Nov 10, 2011 8:24pm
On the chart progression the histo didn't turn green until the candle was well on its way, so why would you enter at the open while the histo was still red?
My favorite crochet hook is size J. It's a J-Hook!
  • #13,469
  • Nov 10, 2011 8:55pm Nov 10, 2011 8:55pm
Quoting smatthew
EUR/USD H4
TDI cross up
Stopped out

I probably should have stayed out but I'm not sure what clues I missed.
Any ideas?
From all of the backtesting looking at SL levels, I was using ATR (7). For a TDI cross on the H4 charts I was using several approaches for SL - Dean Malone price range 5SMA H/L, ATR(7) and using the previous swing H/L.

Wherever there was a drawdown I was usually seeing a worst case value in the region of 1.5XATR - so for an ATR(7) of 80, max DD was in the 120 to 140pip range.

I had very few back test trades that hit a SL of 2XATR(7) - around 2%.

With that said, using the 2XATR(7) approach, you need to be able to size your lots accordingly for your risk tolerance / MM plan. A SL of 40 on the H4 is not taking into account the dynamic nature of the pair, and is certainly not following the TMS guidelines.

Take this to the Day Charts and your ATR levels will be much larger and so will the need for the SL to allow for breathing room.
"To live with Passion, it takes Courage and Grace to survive"
  • #13,470
  • Nov 10, 2011 9:05pm Nov 10, 2011 9:05pm
Anyone have any thoughts / opinions on this topic?

Consider the possibility that you have been trading TMS successfully for several months and that you have been achieving a consistent monthly trading accuracy of over 70%.

Your pips win to loss ratio is 3 to 1

At what point would you consider risking a higher amount (% of your account balance) in your trading?

a) Never

b) May consider the occassional trade to test the theory for a really good entry position

c) Full steam ahead - rewrite the MM plan and go for it
"To live with Passion, it takes Courage and Grace to survive"
  • #13,471
  • Nov 10, 2011 9:24pm Nov 10, 2011 9:24pm
Thank you for the analysis of SL level, it would be really good for my money managment,

About the question about money managment, i would not increase the risk more than 5 percent, now i'm trading 1 percent becouse i'm learning, but as i get confidence and learn the method i would keep my risk from 3-5 %, depending on how strong is the signal and how big would be my SL.

Regards
  • #13,472
  • Nov 10, 2011 9:48pm Nov 10, 2011 9:48pm
Quoting Britpip7
Anyone have any thoughts / opinions on this topic?

Consider the possibility that you have been trading TMS successfully for several months and that you have been achieving a consistent monthly trading accuracy of over 70%.

Your pips win to loss ratio is 3 to 1

At what point would you consider risking a higher amount (% of your account balance) in your trading?

a) Never

b) May consider the occassional trade to test the theory for a really good entry position

c) Full steam ahead - rewrite the MM plan and go for it
Im not at that point yet but this is something i have thought about.
  • #13,473
  • Nov 10, 2011 11:48pm Nov 10, 2011 11:48pm
Quoting Britpip7
Anyone have any thoughts / opinions on this topic?

Consider the possibility that you have been trading TMS successfully for several months and that you have been achieving a consistent monthly trading accuracy of over 70%.

Your pips win to loss ratio is 3 to 1

At what point would you consider risking a higher amount (% of your account balance) in your trading?

a) Never

b) May consider the occassional trade to test the theory for a really good entry position

c) Full steam ahead - rewrite the MM plan and go for it
Personally, I am always doing the math to make sure that 2-3% risk is all that I take with any one trade and do my best to ignore that dollar number afterward. Being forex traders we might not know it, but our jobs is mostly concerned with figuring out risk. How risky is this deal, risk vs. return, how much to risk on this deal, etc. That said, I do my best to enjoy what I do and imagine that I am playing some sort of video game. This frees my mind to pay attention to the deal in terms of pips (not actual dollars). Pips are like points and I am trying to achieve a higher average score over time. So for me, increasing my risk percentage usually doesn't even occur as a coherent thought. In fact, it is the one rule in my trading plan that I have not even once broken. Great topic, look forward to how the rest of the room tells it.
"IN CASH WE TRUST"
  • #13,474
  • Nov 11, 2011 1:36am Nov 11, 2011 1:36am
Weekly report:

Total Trades: 17

Loose trades 7 => -218 pips

Win trades 10 => + 355

Net Profit +137

  • #13,475
  • Nov 11, 2011 4:39am Nov 11, 2011 4:39am
FXDD assures me that my live acct will be up and running by Monday. I will use 2% risk to start and I will keep a paper log of dollars earned, not just pips. If after 2 mos. of successful (keyword) trading I will increase to 3%. By mid 2012 I would like to be at 5% and then not ever go beyond that. That's the plan but as many of us know the successful implementation of a forex plans reveals that the devil is in the details.

Have a good weekend all, I'm sitting today out with the bank holidays in the US and CAD plus I don't trade on Fridays anyway. p.
  • #13,476
  • Nov 11, 2011 4:54am Nov 11, 2011 4:54am
Quoting dcginc
Hello Traders.

I have an MT4 question. I have been searching the internet for days with no luck and spoken to several brokers as well.

Forgive me for posting it here, but I though this might be a good place to get some help.

When moving the cursor on my charts over an object of any kind, a pop up window appears with the relevant data for the object (candle data, indicator info, etc.)

Is there any way to turn this pop-up function off?

Thanks.

dcginc
unfortunately I am having no success in discovering anything on this topic - this may well be a feature that has to be coded and I not yet convinced that that is an option available through any of the MQ / edit options - Has Xaphod any thoughts on this - I would love to remove the pop up functionality but retain the price/pip.candle count.
"To live with Passion, it takes Courage and Grace to survive"
  • #13,477
  • Nov 11, 2011 5:03am Nov 11, 2011 5:03am
Quoting dcginc
Hello Traders.

I have an MT4 question. I have been searching the internet for days with no luck and spoken to several brokers as well.

Forgive me for posting it here, but I though this might be a good place to get some help.

When moving the cursor on my charts over an object of any kind, a pop up window appears with the relevant data for the object (candle data, indicator info, etc.)

Is there any way to turn this pop-up function off?

Thanks.

dcginc
If it is a custom indicator then you can try by editing it and setting the index label property to NULL i.e

Inserted Code
SetIndexLabel(2, NULL); // 2 is buffer value (0 - 7)
  • #13,478
  • Nov 11, 2011 5:35am Nov 11, 2011 5:35am
kijkij "If it is a custom indicator . . . "

This is not an indicator, rather a function of the platform itself.

Thanks though.

dcginc
  • #13,479
  • Nov 11, 2011 5:37am Nov 11, 2011 5:37am
I saw this somewhere,so just thought it is relevant here too.
Here goes:

I have noticed over the years as one who trades for a living that when someone like Eelfranz comes up with a working system it often gets tainted. The primary reason for this is newbies who don't understand that no system is profitable 100% of the time and when they lose on a trade they immediately think that it is the system's fault and that it needs to be tweaked a bit because in a particular set of circumstances it did not work. Of course since no system is 100% these "improvements" need to be improved upon and the stupidity perpetuates itself to where the original system that worked 80% of the time has been updated to an unrecognizable thing that doesn't work at all. All indicators are lagging and the addition of more accomplishes nothing except to reinforce your preconceived notions of where the market should be heading. Currency trading, especially in these crazy times does not rely on history but the followers of this thread would do well to check out history and return to the original system Eric established and accept the losses that come with any system, study money management, and quit trying to reinvent the wheel. End of sermon.

Courtesy: BILL
It Is Well With My Soul..(Amen)
  • #13,480
  • Nov 11, 2011 5:47am Nov 11, 2011 5:47am
Quoting babasemi
I saw this somewhere,so just thought it is relevant here too.
Here goes:

I have noticed over the years as one who trades for a living that when someone like Eelfranz comes up with a working system it often gets tainted. The primary reason for this is newbies who don't understand that no system is profitable 100% of the time and when they lose on a trade they immediately think that it is the system's fault and that it needs to be tweaked a bit because in a particular set of circumstances it did not work. Of course since no system is 100%...
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