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Trading Made Simple system follower - Thanks to eelfranz 9 replies

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Trading Made Simple

  • #15,621
  • Feb 24, 2013 1:50am Feb 24, 2013 1:50am
Already through sixty sumtin pages. (And still reading i intend to finish it I promise.) And I understand the strategy. Just want a live example of what has worked most o the time.
  • #15,622
  • Feb 24, 2013 12:10pm Feb 24, 2013 12:10pm
Quoting Britpip7
Here's my chart - I use the TMS Watchdog with all settings on default
hello Britpip,
Can i have your indi. which shows all currencies strength like on your chart Aud 6.9 etc please? That is i think very useful in determining our trades.
Thanks in advance , sir.
  • #15,623
  • Feb 24, 2013 1:02pm Feb 24, 2013 1:02pm
Quoting behman8850
hello Britpip,
Can i have your indi. which shows all currencies strength like on your chart Aud 6.9 etc please? That is i think very useful in determining our trades.
Thanks in advance , sir.
So that we do not pollute this thread with non TMS stuff - please visit my thread and check out the attachments posted on Jun 17 2012 - I also have a bunch of stuff based on the day charts - refer to post #1.

Everything is based on Big E's approach with some tweaks and additional approaches over lain on the TMS.

http://www.forexfactory.com/showthread.php?t=334035
"To live with Passion, it takes Courage and Grace to survive"
  • #15,624
  • Feb 24, 2013 1:30pm Feb 24, 2013 1:30pm
The things i find difficult in this trading method is not the method in itself it is everything else. I know the thread starter made it sounds easy in the beginning but there are more, more then just the indicators thare are for example support and resistances to consider and things like that. Or is there anyone just trading it simple way disregard everything but the indicators ?


Best regars
  • #15,625
  • Feb 24, 2013 1:33pm Feb 24, 2013 1:33pm
Quoting Britpip7
So that we do not pollute this thread with non TMS stuff - please visit my thread and check out the attachments posted on Jun 17 2012 - I also have a bunch of stuff based on the day charts - refer to post #1.

Everything is based on Big E's approach with some tweaks and additional approaches over lain on the TMS.

http://www.forexfactory.com/showthread.php?t=334035
Thank you very much, Sir! I really appreciate this.
  • #15,626
  • Feb 24, 2013 2:25pm Feb 24, 2013 2:25pm
Quoting jgadefelth
The things i find difficult in this trading method is not the method in itself it is everything else. I know the thread starter made it sounds easy in the beginning but there are more, more then just the indicators thare are for example support and resistances to consider and things like that. Or is there anyone just trading it simple way disregard everything but the indicators ?


Best regars
Support & resistance levels were always part of Eelfranz's entry decisions - PA was primary, TDI crosses / bounces and APB Colour changes are more for an additional visual clue.

S/R levels can be the price levels that you will pick up by zooming out and seeing where the PA gets held up or the prices it rejects. There are also the dynamic S/R levels from the EMAs that the top traders use such a s 200EMA and various others that are discussed from time to time.
Attached Image (click to enlarge)
Click to Enlarge Name: eur jpy key levels - day chart to 2009.gif Size: 67 KB
"To live with Passion, it takes Courage and Grace to survive"
  • #15,627
  • Feb 24, 2013 10:31pm Feb 24, 2013 10:31pm
Quoting snarlyjack
jgadefelth,

The next question is, where is the eur/dol heading next week? Here it is Friday afternoon,
the daily tdi is basically at level 32. Eelfranz would say that he loves to trade "long"
when the daily tdi is at level 32. We have all weekend to ponder that question...hmmm.

It has nothing to do with fibs, s/r, news...it has everything to do with the daily and
the tdi. With this system don't go against the 4 hour and daily tdi readings. Maybe
the Asia session will clear up the tea leaves for us on Sunday night?

This is like chess....
Ok so next question - what time Sunday or Monday would you trade - providing all other indis are lining up because often the opening on Sunday night is out of whack and could give a false reading. For example: lets say everything lines up on Friday afternoon and there are 3 HA candles the same color at close on Friday. Then on Sunday - would you buy at the open or wait for further confirmation - then you might be entering on the 5 or 6th HA candle - which is against Eelfranz's rules.
  • #15,628
  • Feb 25, 2013 12:17am Feb 25, 2013 12:17am
Okie dokie everyone, hello my name is Tom.

I started studying Forex in December and worked my way through BabyPips, then came here because this is my favourite forum and signed up. Initially I was thinking of making my focus on Harmonic Patterns, but I found that just didn't seem to sit right with me, so I checked out X-Man's S3 and followed the bread crumbs back here, and I like the way this system feels to me.

So hello everyone!

I'm a purist, and always like working with a strategy as it was originally made, otherwise I end up slapping 20 indicators on my charts and losing focus of the main point.

I just finished reading 'Trading in the Zone' by Mark Douglas, and found the concept of keeping a simple edge very important to me. I have a lot of problems with over-analysis, and I'm trying to keep it as simple as I possible can to begin. Like in the book, I just want something to give me a statistical edge, and then play that out mechanically over a series of trades, confident that the edge will lead to profits in the long run. Eventually, learning to use discretion and intuition to squeeze more pips out.

I'm seeking some help, which I hate to do because I don't like socialising, but this system feels good so I'm stepping outside of my comfort to try and get a better hold of this method of trading.

A mentor would be fantastic, though probably unlikely. I really don't know if I can make it though 1000 pages of this thread without giving myself total overload and not knowing who to listen to and who to not, I really really want to stick to the basics.

I was really intrigued by Big E's description of trading the 4H London candles, I live in Australia so for me this would be perfect, with the 3 candles occurring at 4:30pm, 8:30pm and 12:30am. But I just can't really see these TDI crosses that give around 200pips a week or anything like that... I don't see the set-ups. I'm looking at EU,GU, AU, EJ and UJ.

Some guidance would be very much appreciated, I'm not afraid of doing some homework, I hope someone can answer my plea. Thanks guys, great stuff here.
  • #15,629
  • Feb 25, 2013 12:55am Feb 25, 2013 12:55am
The best advice that I can give everyone is to go into the history and read/study everything
that Eelfranz has written about the TMS system. Eelfranz was very educated and came up
with a great system. Don't make it harder than it is. Remember it is called Trading
Made Simple for a reason. Don't out guess yourself just go by the TDI on the
4 hour and daily charts. Especially the daily chart. Give yourself a fighting chance
and study what Eelfranz was saying...

snarlyjack
  • #15,630
  • Feb 25, 2013 1:03am Feb 25, 2013 1:03am
Hi Room,

Another newbie here. I've spent one week going thru the thread which reach about 207 pages. I'm trying to study and understand on my own.
So I've been reading again and again on the BigE method. Though Im not fully master, but I decided to trial on demo. I also been searching the MT4
platform which would be identical to BigE. Anyway today is my first day testing on demo.

Here's my Entry on :-
AU - Shorting, condition meet between TMS and Stoch.
EJ - Longing, condition no meet. As TMS heading up and Stoch on flat read. ( Hey I thought of testing the result on demo what if I join the ride. )
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 2013.02.25-au sell.gif Size: 33 KB
Click to Enlarge Name: 2013.02.25-ej-buy.gif Size: 33 KB
Banker please return my pipins.
  • #15,631
  • Feb 25, 2013 1:40am Feb 25, 2013 1:40am
I read the PDF from http://www.forexfactory.com/showthre...75#post5463775 and found that a lot of what E said started to get more and more discretionary in nature, as one would expect as you get more comfortable with your particular edge. I'm trying to wind it right back to the basics.

Babyboy's post highlights the particular problem I'm seeing, in that the TDI cross indicating short has appeared in the Asian session, which E said is usually not good to follow because of lack of direction. But going right back the last few months in back testing I only see about 1 or 2 crosses that actually occur in the candles he said he watches.

So not really sure whether to enter on the earlier candles, enter 2 or 3 candles after the cross when PA confirms the cross' signal, or what. Because looking at past data, it seems if I followed the original method purely mechanically, I'd rarely get an entrance signal like E describes in his night trading.

Quoting snarlyjack
The best advice that I can give everyone is to go into the history and read/study everything
that Eelfranz has written about the TMS system. Eelfranz was very educated and came up
with a great system. Don't make it harder than it is. Remember it is called Trading
Made Simple for a reason. Don't out guess yourself just go by the TDI on the
4 hour and daily charts. Especially the daily chart. Give yourself a fighting chance
and study what Eelfranz was saying...

snarlyjack
  • #15,632
  • Edited 2:24am Feb 25, 2013 2:12am | Edited 2:24am
after 3 hours review....

My earlier entry review,

1. au - heading flat line posibility of reversal or strong fall. Pips -0.4.
2. ej - going nice, but lack of momentum, the angel not as strong as before. Pips +29

Possible entry on EU, but the candle too small. Maybe after london open will see better gap. If remains, I let it go. No trade.

FYI, I havent exits on both trades. No SL, No TP. Since this is my first demo, I like to see how's it goes for another 4hours.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 2013.02.25-au review.gif Size: 33 KB
Click to Enlarge Name: 2013.02.25-ej review.gif Size: 34 KB
Click to Enlarge Name: 2013.02.25-eu no trade.gif Size: 28 KB
Banker please return my pipins.
  • #15,633
  • Feb 25, 2013 2:17am Feb 25, 2013 2:17am
Quoting Empowers
[color=DarkRed]I read the PDF from http://www.forexfactory.com/showthre...75#post5463775 and found that a lot of what E said started to get more and more discretionary in nature, as one would expect as you get more comfortable with your particular edge. I'm trying to wind it right back to the basics.

Babyboy's post highlights the particular problem I'm seeing, in that the TDI cross indicating short has appeared in the Asian session, which E said is usually not good to follow because of lack of direction. But going right...
Actually today morning when i look at the charts, there are several pairs has a huge gap during the after asian opening.
The event takes place during weekend.
Banker please return my pipins.
  • #15,634
  • Feb 25, 2013 3:01am Feb 25, 2013 3:01am
Quoting Babyboy
Actually today morning when i look at the charts, there are several pairs has a huge gap during the after asian opening.
The event takes place during weekend.
Hmmm it's funny how you can look at two sets of charts and see two different things each time. I see that most of the Asian TDI crosses are after weekends, and the rest are London crosses. I don't see many set ups though, maybe like 1 or 2 a fortnight? Is that about right? I mean Big E used to say that he made 250-500 pips a week watching those 3 London candles, I don't see that much but I do see that the 1 or 2 a fortnight were big moves, and I don't think he ever said he traded EVERY night, just looked for setups every night

Thoughts?

PS: That EU has been a good 40 pips if you switched down to 1HR and traded it there.
  • #15,635
  • Feb 25, 2013 4:29am Feb 25, 2013 4:29am
Hi again,

As Im busy with my work, the updates abit late. Anyway, after fours I look at the chart, I decided to closed the exit
as both entry is running away slightly. As I was busy, I didnt perform much checking, however i did make an entry on EU.

EU - longing. Condition meet both tms and stoch.

Results
AU -8pips
EJ +21pips

EU Currently +30pips.
Attached Image (click to enlarge)
Click to Enlarge Name: 2013.02.25-eu-buy.gif Size: 37 KB
Banker please return my pipins.
  • #15,636
  • Feb 25, 2013 6:57am Feb 25, 2013 6:57am
Quoting Empowers
Hmmm it's funny how you can look at two sets of charts and see two different things each time. I see that most of the Asian TDI crosses are after weekends, and the rest are London crosses. I don't see many set ups though, maybe like 1 or 2 a fortnight? Is that about right? I mean Big E used to say that he made 250-500 pips a week watching those 3 London candles, I don't see that much but I do see that the 1 or 2 a fortnight were big moves, and I don't think he ever said he traded EVERY night, just looked for setups every night

Thoughts?

PS:...
I strongly believed that BigE entry was 2hrs before the london open. ( 10pm Before he goes to bed ). Subsequently 2hrs after
london open. ( 2am. He wakes up and check the result, then go back to sleep ) eventually closing all trade before NY open which
is 3hours before London closed ( 6am. This is his wake up time i guess )

If the trend is strong carrying from asian to london, on a single pair, you can makes more. But BigE mentioning that he's making 50pips per pair.
So if the market is trending I believe anyone who following the method can make the same or more amount. BigE entrys, I believe is based on
which pairs he will trade based on strong signals he will trade rather than any blue crossing red signal. ( Possibility of losses cut down )

If no signal, just be patient. I DONT trade if no STRONG signal.

Ex of my trade :-
1. AU - reversal quit with loss -8pips.
2. EJ - retracement quit with +30pips.
3. EU - strong at the moment running +6Xpips

FYI, I also do demoing X-Men method as well
Banker please return my pipins.
  • #15,637
  • Feb 25, 2013 7:40am Feb 25, 2013 7:40am
Trade Result.

1. AU - reversal quit with loss -8pips.
2. EJ - retracement quit with +30pips.
3. EU - Exit +90pips including spread. Reaching 200ema on hr chart. ( Entry 132226, Exit 133126 ).

Overall. +110pips.

Hmm, is it the beginner luck or the BigE method ?? Questions of thought...
Banker please return my pipins.
  • #15,638
  • Feb 25, 2013 5:31pm Feb 25, 2013 5:31pm
Quoting Babyboy
I strongly believed that BigE entry was 2hrs before the london open. ( 10pm Before he goes to bed ). Subsequently 2hrs after
london open. ( 2am. He wakes up and check the result, then go back to sleep ) eventually closing all trade before NY open which
is 3hours before London closed ( 6am. This is his wake up time i guess )
Yes those are the candles I trade too, my broker creates them at the same times.

Nicely done yesterday, was that long on EU, because I notice it made a big reversal in NY.
  • #15,639
  • Feb 25, 2013 6:50pm Feb 25, 2013 6:50pm
To all TMS followers:

Here is classic TMS H4 setup taught by the late FF member Eelfranz fondly known as Big E.

This must be supported by a higher TF candlestick pattern, chart patterns and support and resistance. For higher probability trades, the setup must occur at a CONFLUENCE of Support and Resistance for example 50/200EMAs, RN, BRN, Fibo levels, Pivots levels. Do your own back-testing and you will learn the occurences of such setup condition and the pips run for each of the setups.

Also, many are still puzzled with the clock face 12-2 and 4-6 when we make reference to the TDI PL Green line. Hope this answer what it mean. It is Price Action which we must read on our charts and that is the key to have more winning trades.

Trade Well!
Attached Image (click to enlarge)
Click to Enlarge Name: EU H4 example 26-2-2013 7-51-53 AM.png Size: 75 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #15,640
  • Feb 25, 2013 7:03pm Feb 25, 2013 7:03pm
Quoting Empowers
Yes those are the candles I trade too, my broker creates them at the same times.

Nicely done yesterday, was that long on EU, because I notice it made a big reversal in NY.
Thats was a BIG THANK to Phx62. Because I recall that he will take profit before reaching the 200ema.
I'm just following his advice.
Banker please return my pipins.
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