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Trading Made Simple

  • #16,181
  • Mar 14, 2013 5:20am Mar 14, 2013 5:20am
Quoting xdtrader
Nice setup right now AUD/USD
my a buy ; different broke?
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  • #16,182
  • Mar 14, 2013 5:25am Mar 14, 2013 5:25am
Quoting xdtrader
Nice setup right now AUD/USD
it's long on the 30 min;
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  • #16,183
  • Mar 14, 2013 5:27am Mar 14, 2013 5:27am
I wouldn't sell AUDUSD.

AUDUSD H1's TDI wants to cross up, EURUSD H1 shows the beginning of the good UP-setup.

And, of course, we have the news, "The Unemployment Claims", because of the news the price can go either way.
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Gentlemen always play by the rules. If they can't, they change the rules.
  • #16,184
  • Mar 14, 2013 5:50am Mar 14, 2013 5:50am
I just thought of that after I entered the trade. However, price has entered the PRZ on the 4hr chart and well... let's see what happens. I'm risking 2% of my account on the trade and I can live what that.

Quoting Favorite
I wouldn't sell AUDUSD.

AUDUSD H1's TDI wants to cross up, EURUSD H1 shows the beginning of the good UP-setup.

And, of course, we have the news, "The Unemployment Claims", because of the news the price can go either way.
  • #16,185
  • Mar 14, 2013 6:01am Mar 14, 2013 6:01am
Quoting shadodwel
I just thought of that after I entered the trade. However, price has entered the PRZ on the 4hr chart and well... let's see what happens. I'm risking 2% of my account on the trade and I can live what that.
No offense, but you really make it way too complicated. PRZ, Harmonics, H4, fib extensions... Remember - BigE showed how to make Trading Simple!

Yesterday you decided to trade H1 - good for you! Then you have to trade H1! And H1 shows there is no way you can sell.

Once again, I don't mean to offend you, just my two cents.
Gentlemen always play by the rules. If they can't, they change the rules.
  • #16,186
  • Mar 14, 2013 6:50am Mar 14, 2013 6:50am
Quoting shadodwel
let's see what happens. I'm risking 2% of my account on the trade and I can live what that.
And, of course, I was right and the price went up.

By the way, if I were you I wouldn't wait until SL gets hit, I would exit a long time ago. BigE said many many times: "If I see that the price goes against me, I exit with the small profit or the small loss, I'd better re-enter later".
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Gentlemen always play by the rules. If they can't, they change the rules.
  • #16,187
  • Mar 14, 2013 6:55am Mar 14, 2013 6:55am
Ok...I just got up.

Last night I made a counter- trend trade on the gbp/usd (long)
using the daily chart. I just liquidated out for 26 pips.
Not bad considering I slept through the whole night.
So... I'am taking my profits and going back to bed.
I'am still half asleep (26 x 10.) 1 standard contract.

Goodnight again...

snarlyjack
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  • #16,188
  • Mar 14, 2013 7:01am Mar 14, 2013 7:01am
Eventually went long USD/JPY H4. Closed at -5 pips. TDI is leveling out.
Went long NZDUSD. No time for screen though...

Cheers,
M.
Remember I'm a newbie!
  • #16,189
  • Mar 14, 2013 7:49am Mar 14, 2013 7:49am
I actually prefer monitoring my trades with this system .. for me the 4H just doesn't work I don't know why.. However I have really good results at 1H
thanks to every1 and big thanks to bigE for this wonderful system

Have a nice weekend
  • #16,190
  • Mar 14, 2013 8:26am Mar 14, 2013 8:26am
I learned my lesson actually. This market keeps trying to teach me things but I guess I'm too stupid or too stubborn to learn. I closed out the trade. I closed the trade out and took a 1% loss. No big deal. I feel awkward posting about harmonic patterns in this thread because it's not a part of the TMS system. However, I usually find my points X, or A, and B via TDI and then take it from there; TDI, for me, defines the swings.

For ME personally, lessons learned:

1. Stick to your trading plan. My trading plan is to trade only 4 different currencies on the 15 min or 1 hr time frames, and harmonic ABCD or AB=CD patterns on those time frames plus on the 4hr chart. I traded different a different pair than I was supposed to. HOWEVER, the price (at this current moment) is still well within the Price Reversal Zone. I should only be trading EURUSD, GBPUSD, USDCFH, and AUDJPY. Not AUDUSD. I couldn't resist the setup though on the 4hr. Even though I closed the trade, I'm going to watch to see what happens because TDI started to hook on the 1hr and already crossed on the 15 mins. We got a valid sell signal on the TDI on the 15 min chart.

2. Take the news into consideration, even if it's a small consideration. I'm going to stay out of a trade until after a red event is taking place.

Small profit or small loss is subjective to different people. To me, a 30 pip or 1% loss is acceptable risk.

Quoting Favorite
And, of course, I was right and the price went up.

By the way, if I were you I wouldn't wait until SL gets hit, I would exit a long time ago. BigE said many many times: "If I see that the price goes against me, I exit with the small profit or the small loss, I'd better re-enter later".
  • #16,191
  • Edited 10:57am Mar 14, 2013 10:44am | Edited 10:57am
Quoting shadodwel
and harmonic ABCD or AB=CD patterns on those time frames plus on the 4hr chart. I traded different a different pair than I was supposed to. HOWEVER, the price (at this current moment) is still well within the Price Reversal Zone. I should only be trading EURUSD, GBPUSD, USDCFH, and AUDJPY. Not AUDUSD. I couldn't resist the setup though on the 4hr. Even though I closed the trade, I'm going to watch to see what happens because TDI started to hook on the 1hr and already crossed on the 15 mins. We got a valid sell signal on the TDI on the 15 min chart....
Quoting shadodwel
Small profit or small loss is subjective to different people. To me, a 30 pip or 1% loss is acceptable risk.
shadodwel, I wish you good luck. And I swear to God, I'll leave you alone right after I say two more unpleasant things:

1). Harmonic patterns stink (Pardon my French)! You lost not because you traded AUDUSD (you can trade successfully any currency if you have a good TMS setup), you lost because you looked at your harmonic patterns and decided, that the price MUST go down. The price must do NOTHING! TMS is a perfect system and when somebody tries to create some kind of a hybrid, that makes the results much worse.

2). You not only lost 30 pips. If you traded according to the BigE, you would make 50 pips. So you could have 101.7%, but now you have 99%, that's 2.7% difference. When BigE was talking about the "small loss", he meant something less than 10 pips, and I totally agree with him. Even with your small percentage, why lose 1% if you can lose only 0.2-0.3%?

Once again, good luck!
Gentlemen always play by the rules. If they can't, they change the rules.
  • #16,192
  • Mar 14, 2013 12:53pm Mar 14, 2013 12:53pm
Closed my NZD/USD trade for -1. So two trades today and -6 pips. Not a big deal but i feel like I should have gained more today. My alternative to NZD/USD was USD/CHF which provided nearly 2:1 risk-reward over the time NZDUSD moved for -6 pips... . Anyway, it feels really safe to trade TMS. When the setup is good, the odds of loosing full positions are slim (exit when TDI tweeks or level out). That's really nice. Enough of newbies talk


By the way, I avoid lots of good entries only because the slope of TDI cross is flat at the time of the bar open. All these trades in past days ended up being profitable ones. Any suggestions how to tackle this? Maybe if the cross is not quite steep but the previous bar high/low was broken, entry can be made? I would like to write such a rule into my trading plan, but I cannot backtest it for obvious reasons. Can someone help me with that?


TMS is also used for daily charts. I decided to go long on GBPUSD. One micro-lot. Situations like these do not happen often:
http://img9.imageshack.us/img9/5765/gud1z.jpg

Green crosses red and MBL below 32 level. Looking back in time it's a no-brainer.

I also like AUD/JPY H4 but it is not the time to take that trade. Let's see what price will do in next 8 hrs.


Thankyou for your support!
Cheers,
M.
Remember I'm a newbie!
  • #16,193
  • Edited 5:11pm Mar 14, 2013 3:49pm | Edited 5:11pm
Hi,

Did not have time to post anything yesterday NY session. Was busy with my team and more eyes see more yesterday.

Here is an example how someone spotted the breakout of that H4 Mother Bar consoldation area.
That was super fast and furious and I not sure if anyone who look only at H4 could have caught that move early.

See chart example.

Trade Well.
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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #16,194
  • Mar 14, 2013 4:18pm Mar 14, 2013 4:18pm
Thank you Emmanuel, if i'm right, those 3 bars form a pop gun pattern.
  • #16,195
  • Edited 4:46pm Mar 14, 2013 4:33pm | Edited 4:46pm
Quoting Kenshishi
Thank you Emmanuel, if i'm right, those 3 bars form a pop gun pattern.
Yes, learn to spot these kind of price consolidation on H4 and also D.
these are high probability setups and when it pops, it runs fast and furious.
if you are caught in the wrong pop direction, be ready with a Plan B and do to the turnaround.

It is very important when trading we have a Plan A and a Plan B and also a Plan C.

When the market prove us wrong,..Plan A fails, we activate Plan B.

We all trade our belief sabout the market. At some point in our trading, our belief no longer hold true. We must then do the TURNAROUND when our belief is no longer true. It is all in our minds. Trading require mental fitness. Train your minds.

Doing the turnaround is hard thing because it means we need to cut losses first. Nobody like to lose. That's is a common weakness in many of traders. But then as traders, we must believe that we must cut losses short and let proft run. That is the mantra everyday.

Trade Well folks!

I will be having my off-day today so no new trades unless some alarms goes off.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #16,196
  • Mar 14, 2013 4:38pm Mar 14, 2013 4:38pm
Ok, below is my chart to explain the Pop Gun setup and trigger.
I know we discuss mostly TMS H4 trading here, but there are some M15 lovers here too.
This is specially for you.

This is trading the Breakouts.... after long period of price consolidation. You have multiple 4-hour period to spot this sort of market type. You do not need to keep looking at your charts until your eyes pop out of their sockets. Just look once every 4-hours. When you see what you look for, then you glue onto your computer screen for a few hours.
Attached Image (click to enlarge)
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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #16,197
  • Mar 14, 2013 6:11pm Mar 14, 2013 6:11pm
I'm new to trading this system but I'd like to take a guess on where price is going on AUD/USD and I'd like some input.

The HA bars are getting smaller and the TDI is above the 68 and looks curved/tweaked slightly. I'm guessing a TDI cross is about to occur for a sell signal. What does everyone think? Am I just stating the obvious or am I wrong?
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  • #16,198
  • Mar 14, 2013 7:10pm Mar 14, 2013 7:10pm
Quoting pay tribute
I'm new to trading this system but I'd like to take a guess on where price is going on AUD/USD and I'd like some input.

The HA bars are getting smaller and the TDI is above the 68 and looks curved/tweaked slightly. I'm guessing a TDI cross is about to occur for a sell signal. What does everyone think? Am I just stating the obvious or am I wrong?
Just my newbie humble opinion,

ON Weekly, green crosses red uptrend.
ON Daily, green crosses red uptrend.
ON HR4, Try to close the gap. Green moving near red.
ON HR1, Bear is moving.

In this case, I'll wait for the confirm of the cross and decided. But on daily TF, you can see Double Top is building.
If today is not breaking resistance, Im expect a double top fall on next week.
So it's a make or break situation. Im sitting out this pair for time being. But monitor closely.
Banker please return my pipins.
  • #16,199
  • Mar 14, 2013 7:12pm Mar 14, 2013 7:12pm
Quoting Britpip7
H4 is still looking at a run lower with TDI Mid Zone below 50 and fresh colour change with TDI heading for another cross - new candle in 50 mins - 95.20 & 94.30 are key sticking points if this continues south. Nothing to really tell you to go long at the moment IMO.

Day chart is losing momentum and TDI is showing bearish divergence over the long time frame of about 60 days.

Week chart shows clear S/R levels and PA is pulling back to one at the moment
Thanks for your kind advise. Im appreciated. It's hit BE.
Banker please return my pipins.
  • #16,200
  • Mar 14, 2013 10:58pm Mar 14, 2013 10:58pm
Thought I'd try a X-Man type trade tonight (using pin bars).

I rode the gbp/usd up last night (long)-(counter trend trade) so tonight I thought I'd
try a trade going down (short)-(going with the trend). We'll see how it goes...

Good trades everyone...

snarlyjack
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