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Trading Made Simple

  • #17,581
  • Apr 16, 2013 4:06am Apr 16, 2013 4:06am
Quoting pawpaw1000
Mate, I think you are doing something wrong if after 100 trades you are only up 500 pips. You need to reread the system perhaps or brush up on basics? Perhaps you are overtrading? I've got about 6 trades and up 160 pips...
Hello Paw Paw. You are right. I am overtrading. Asides from entering trades too quickly, I do not have the will power to force myself to stay awake to monitor the trades, therefore letting the positive ones turn into negative. Maybe I do need to brush up on the basics.

Normally I would consider it a "stable" strategy when after a sample size of 100 trades the pip amount is 500 pips ( expectancy of around 5 pips per trade). But given the results of everyone else here it is obvious I am not up to par with the profit targets. You have only 6 trades and youre already up 160 pips. Much more efficient.

Jackub and emmanuel have given me quite a bit of advice already; what im doing wrong, how i should go about handling the trades. It is time for me to apply that advice. Thank you to you as well.
  • #17,582
  • Apr 16, 2013 4:10am Apr 16, 2013 4:10am
Quoting Jackub
How many pairs you are following and long it took to get 100 trades... please?
Hello Jackub.

THat is a very good question

I am following 5 pairs. EU. U.CHF GJ EJ and GU. Members have warned me that I am following too much already. I am inclined to agree with them. I was too impatient in wanting to gather a large amount of trades to see if the expectancy of the strategy was positive. Even though it is a hundred trades, the results are artificial. I forgot to factor in time as well. The 100 trades took me only a month and a half to obtain. I entered on average 4 trades per night on the pairs listed above. if I separate the pairs and look at the pip count and trade count. Each would only come about to 15-20 trades with an average pip count of 100 or so pips. GBP.JPY and EUR.JPY have been negative so far.
  • #17,583
  • Apr 16, 2013 5:15am Apr 16, 2013 5:15am
Quoting tenmilewalk
Hello Jackub. THat is a very good question I am following 5 pairs. EU. U.CHF GJ EJ and GU. Members have warned me that I am following too much already. I am inclined to agree with them. I was too impatient in wanting to gather a large amount of trades to see if the expectancy of the strategy was positive. Even though it is a hundred trades, the results are artificial. I forgot to factor in time as well. The 100 trades took me only a month and a half to obtain. I entered on average 4 trades per night on the pairs listed above. if I separate the pairs...
Hi tenmilewalk,

Congrats to you all the same for posting your trades and Thoughts....lots of people here will be quietly learning as you go through the process,
so we all learn.

I still think as emmanual says its important to look at your R;R over those 100 trades also.

Keep up the good-work !!

cheers

W99
  • #17,584
  • Apr 16, 2013 5:26am Apr 16, 2013 5:26am
Hello wizard.

I am very glad you find my posts useful. Posting trades and results is a form of discipline and journal for me. I can look back and reflect on what I done correctly and incorrectly. I hope that I can serve as one of the examples of beginners who use this strategy and are able to profit.

You and I think along the same lines. R.R is very important to me. However, I have not attained the level of sophistication that emmanuel handles his R. multiples. I am not on my home computer now, otherwise I couldve updated my trading journal. (there should be an old version somewhere. its an excel file). My R.R for the GJ and EJ right now is 2.5 (40/100) EU is 1.5(40/60) USD.CHF 1.33(30/40) and GBP.USD 2 (40/80)

As pawpaw said though, I will need to brush up on the basics. So the results so far might not be effective study material.

Any advice appreciated
  • #17,585
  • Apr 16, 2013 5:31am Apr 16, 2013 5:31am
Quoting tenmilewalk
Hello Jackub. THat is a very good question I am following 5 pairs. EU. U.CHF GJ EJ and GU. ......
Hi tenmilewalk... I must admit at the beginning that you have done great work and I like this very much.. I MUST do the same, I concentrate more on learning about ananlizing market situation then entering trades, taking position on the market and in result have problems with executing trades This become a main problem for me now, need more practice...
Thank you very much for sharing your work with us
JacekPreserve Precious Capital
  • #17,586
  • Apr 16, 2013 5:37am Apr 16, 2013 5:37am
Quoting Jackub
Hi tenmilewalk... I must admit at the beginning that you have done great work and I like this very much.. I MUST do the same, I concentrate more on learning about ananlizing market situation then entering trades, taking position on the market and in result have problems with executing trades This become a main problem for me now, need more practice... Thank you very much for sharing your work with us

Even after 107 trades, I still feel anxiety. Contrary to you, now I must do the same as you and focus more on analysis then being trigger happy.
  • #17,587
  • Apr 16, 2013 5:58am Apr 16, 2013 5:58am
Quoting pawpaw1000
8:00 - 16:30... Already changed DST
Hi PAW, what part of the U>K do you live..??
  • #17,588
  • Apr 16, 2013 6:17am Apr 16, 2013 6:17am
Quoting snarlyjack
Pawpaw & Jackub, I'am on my way to bed but just wanted to chime in. Looking to go short on the eur/usd but it's not ready yet. So...I'am watching a good movie on T.V. I used to watch the news channel but that just brings me down. Sometimes I'll read a good book but mostly I'll watch late night movies. It reduces my stress and get's my mind off of every little "tick" in the market. When it's ready to "pop" you'll know... snarlyjack {image}
Agree Snarly,

I think Euro might still rally a bit and GBP too but once the setup is ready, it's going to be a great trade.

Aud is consolodating and retracing a bit as anticipated and NZDUSD too but when they're ready, we will have some great trades...

I live in France and so check my charts before training and in between... Stress free just waiting for the next tree to fell.
@pawpaw1000 on Twitter
  • #17,589
  • Apr 16, 2013 6:20am Apr 16, 2013 6:20am
Quoting tenmilewalk
Hello Paw Paw. You are right. I am overtrading. Asides from entering trades too quickly, I do not have the will power to force myself to stay awake to monitor the trades, therefore letting the positive ones turn into negative. Maybe I do need to brush up on the basics. Normally I would consider it a "stable" strategy when after a sample size of 100 trades the pip amount is 500 pips ( expectancy of around 5 pips per trade). But given the results of everyone else here it is obvious I am not up to par with the profit targets. You have only 6 trades...
What are you doing on H1 charts when you can't monitor your trades? and H4 is alot easier, go read Eelfranz's posts and some of Snarlys and you'll see what I mean!
@pawpaw1000 on Twitter
  • #17,590
  • Apr 16, 2013 7:29am Apr 16, 2013 7:29am
NZDUSD is setting up for a nice short, Monthly looks like the place to short and weekly too, just need TMS to show short on H4...
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@pawpaw1000 on Twitter
  • #17,591
  • Apr 16, 2013 9:06am Apr 16, 2013 9:06am
Quoting pawpaw1000
What are you doing on H1 charts when you can't monitor your trades? and H4 is alot easier, go read Eelfranz's posts and some of Snarlys and you'll see what I mean!
Thank you pawpaw. Yes. H4 should be more suitable for me as I cannot monitor the trades. Thank you for the advice.
  • #17,592
  • Apr 16, 2013 12:01pm Apr 16, 2013 12:01pm
Hi everyone, I hope all of you are doing well.

I have been rigorously learning and revising this system every day for about 1 month now and have been fairly successful.
It wasn't a smooth journey for me but the effort was worth it.

I only trade the 4hr charts and today I've just added +150 pips into my wheelbarrow from 4 pairs.

If there is one great piece of advice that I would give to anyone using this system is... Trade the system as it is laid out by Big E (Eelfranz).
Simplicity at its best.
Big E spent at least 2 years perfecting and simplifying this method so that it would be simple for us to learn and adapt to it.

When I first started out I was unsuccessful. I had more losing trades than winning trades.
I did lots of back-testing and it helped loads for me to identify good entries.
I realized that I was adding stuff to the system that clouded my decision to enter or exit.
I also found out that cherry picking trades, and not taking all TDI crosses or bounces (that looked fairly weak), added to my success rate.

What accelerated my learning curve and saved me a lot of time was the complied posts from Big E, dcgnic, and Snarlyjack by the wonderful contributors of this thread.
I would highly suggest reading them (you can find them at the attachments bank from this thread).
Their advice kept me on track and reinforced my confidence in this system.
Of course I cannot rule out the current contributors of this thread. I really appreciate your posts guys!

Keep on learning, back-testing, forward-testing and never give up!!
  • #17,593
  • Apr 16, 2013 12:32pm Apr 16, 2013 12:32pm
emmanuell7788, would you be that kind...

I have taken GU trade at 6:00 GMT (first blue pullback looking candle). This time I'm not asking about "why go or not go" but for proper application of TMS.

GBP/USD H4

Short term-wise this trade was in my newbiesh opinion great. Triple bot, perfect cross, above RN, pullback-looking candle. You already know the story what has happened next:


My question is:
According to TMS, should I exit close my long?-> The very next candle after entry closed created a great TDI bounce trade. TDI has also tweaked. Generally speaking, should I bail my position when the very next candle after entry creates tweak or a bounce signal (considering regular cross).


In this case have closed my position with a loss at 10:00:01 GMT


Thanks for your answer. So far I'm positively surprised with my performance on TMS. Been doing great. Just lately have no time to post from workplace;/ . Hope that will change in incoming weeks.

Best luck to TMS traders!
M.
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Remember I'm a newbie!
  • #17,594
  • Apr 16, 2013 12:37pm Apr 16, 2013 12:37pm
Quoting tenmilewalk
Thank you pawpaw. Yes. H4 should be more suitable for me as I cannot monitor the trades. Thank you for the advice.
Hey, tenmilewalk!

Welcome to the H4 club! I'll be looking forward to your results just like what you have done for your H1 trades.
I only trade H4 as I do not have the time to monitor H1 charts. I find it more calming than trading on H1 too.

Cheers to your success!
  • #17,595
  • Apr 16, 2013 12:44pm Apr 16, 2013 12:44pm
Quoting Harlem
Hey, tenmilewalk! Welcome to the H4 club! I'll be looking forward to your results just like what you have done for your H1 trades. I only trade H4 as I do not have the time to monitor H1 charts. I find it more calming than trading on H1 too. Cheers to your success!
Hi harlem, time to work together.
  • #17,596
  • Apr 16, 2013 1:09pm Apr 16, 2013 1:09pm
Quoting mierzyk
emmanuell7788, would you be that kind... I have taken GU trade at 6:00 GMT (first blue pullback looking candle). This time I'm not asking about "why go or not go" but for proper application of TMS. GBP/USD H4 Short term-wise this trade was in my newbiesh opinion great. Triple bot, perfect cross, above RN, pullback-looking candle. You already know the story what has happened next: My question is: According to TMS, should I exit close my long?-> The very next candle after entry closed created a great TDI bounce trade. TDI has also tweaked. Generally...
Hey mate, could you perhaps mark the candle on which you went long so that we could help you. Or then at least tell me which candle from the left to right did you enter on?

If you had entered on any of those bottom five candles you should have had sl at 5265 which means you would never have been hit and should have made great profit?

BTW, that first candle you entered on wasn't great seeing as it had a wick above and below showing less momentum. Emmanuel did show and example where the blue candle had no lower wick wish shows alot of momentum. Seeing as you had a crappy entry candle, you should have been more careful on the next candle but that said, GBPUSD is going higher and that entry wasn't too bad if you were willing to let the price bounce around a bit.

What I've learnt is that if you enter on sub-prime candles, you normally get sub-prime PA... Good luck ;-)

These questions are all answered by reading the previous posts.

Hope I answered your question?
@pawpaw1000 on Twitter
  • #17,597
  • Apr 16, 2013 1:54pm Apr 16, 2013 1:54pm
Quoting mierzyk
emmanuell7788, would you be that kind... I have taken GU trade at 6:00 GMT (first blue pullback looking candle). This time I'm not asking about "why go or not go" but for proper application of TMS. GBP/USD H4 Short term-wise this trade was in my newbiesh opinion great. Triple bot, perfect cross, above RN, pullback-looking candle. You already know the story what has happened next: My question is: According to TMS, should I exit close my long?-> The very next candle after entry closed created a great TDI bounce trade. TDI has also tweaked. Generally...
Hi mierzyk,

I entered the exact trade as you did based on the rules of TMS.

I placed my S/L a few pips below the triple bottom after entry.
To me it was a good entry because of the triple bottom which you had highlighted, plus it was a bullish reversal pattern based on PA.
It also bounced off the 38.2 fib of the long rally which gave me additional confidence.
However, I also noticed that the close of the blue candle met closely with the previous support on the 10th of April so I was cautious about this entry.

When I checked back 4 hours later, I read that the new candle did not go any lower than the previous candle so I stayed in the trade. That is just my style, slightly different from Big E though.

Based on TMS, from what I have read, I'll quote this from one of Big E's posts on post 962, page 65: "If I'm in a bad trade losing pips I'll exit immediately. I can already re-enter when it looks better... heck with waiting for the next candle... my style...".

That was my thought process as I went through the trade, I hope it helped you!

For that trade I have locked in 1/2 of my trade for profit and left the other 1/2 at BE for it to run. Look it at run!
  • #17,598
  • Apr 16, 2013 3:03pm Apr 16, 2013 3:03pm
A trade I took last night....comments welcome

W99
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  • #17,599
  • Apr 16, 2013 3:16pm Apr 16, 2013 3:16pm
Quoting wizard99
A trade I took last night....comments welcome W99 {image}
Not good mate,

I'm looking to short NZD and see GBP climb above the recent highs...

That said, perhaps you're right ;-)

Good luck

PS, trend looks up and so I wouldn't have taken the trade, don't trade that particular cross though
@pawpaw1000 on Twitter
  • #17,600
  • Apr 16, 2013 3:28pm Apr 16, 2013 3:28pm
Thx pawpaw,

I still have alot to learn obviously, man it never stops.....

I think Ive followed the "rules" well taking the trade on the first or second candle , with the tdi cross and it seems to be bouncing down off the upper DT line...

I guess I may have miss read this one. That said Ill leave the SL in place and if it gets taken out Ill post analyze it and move on to the next one.

Cheers

W99
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