Trading Made Simple

And another Im still in....

Ha....out with loss...

Oh well back to drawing board....

My first "bounce" trade...

56 pips,
left 1/2 position for furhter run.. targeting area 168% weekly fib ext.. will see....

I though it was a decent trade...

Daily channel down,
4H channel down
TDI crossed blue and back
Candle lit up with short color...

pawpaw1000, what's not to like in GBPNZD 4H short, except large stop loss above the pivot?

nothing wrong with shorting GBPNZD H4, SL should be 8285 target 7940. The SL above was too tight for H4 TF hence got hit.

Mate,
On D1 I can see a lot of bullish pressure, see TDI and long bottom wick

you need maybe larger SL

Yeah your right....Thx

Wizard99, do not dispear ..it was a decent trade...trend is your friend...daily trend is down..you picked up 4H cross of the TDI plus a bearish color candle ...if this is not a trade based on this technique..what is?

Stop Loss would of been too much for me...I usually wait to get in within at most 100 pips of the top of the pivot...

Thx Driven,
Yeah I do get a bit frustrated sometimes because the 2 previous TDI crosses on the H4 would have worked out.
They were clean, fit my analysis, and fit the rules of Big E. Big E mentioned he doesn't look at HTF's just takes the trade with whats presented in front of him. I do look at the zoomed out look and HTF to get the bigger picture.
I acknowledge that my SL was probably to small thou.

The other thing is I trade only a tiny amount of % of my acct which means the loss wont blow me out of the water.

Thx for everyones feedback

This trade has 150 pips potential if it meets low of the previous pivot...I may take a risk if it gets within 75-100 pips of this pivot high...

I would like for regulars here to please comment, if there are any flows in this thinking, as it relates to this thread....

Hi Wizard99,

If you look at the 4hr GBP/USD chart you'll see there's a huge strong support area hit multiple times, but failed to break. That signals a reversal "could be around the corner" which is exactly what happened.

I myself wouldn't have taken the trade based on that.

Thx ero.

The charts do look quiet different thou. I was looking at the GN not the GU.

cheers

W99

I made my 1st trades with this method last night using the same time frames as eelfranz has posted. I did close the trades about a half hour earlier than the original rules stipulate. I am encouraged by the results.

EJ = +103 pips
AU = BE
GU = +6
EU = + 59
Total = +168 pips

Good trading!

I am in GBPUSD on the buy side...

Bobcat...what is this about original rule and closing the trades...can you point me to it?

Post 1; Page 1

Dont think ill have access for a while until I figure out why theres noservers available for mt4

Hi wizard99,

From the chart, I believe you entered on the 3rd or 4th candle of the reversal which eelfranz does not recommend doing because he says that you would have lost most of the momentum from the reversal from entering late. I would have passed that trade if I were you..

Best to enter on candle #1 or #2 of the reversal.

It would have been a good sell entry if you had entered on candle #1 or #2 of the reversal as it was coming from the 68 zone and returning from a break in the bollinger bands with a good TDI cross angle.
Short wicks on the first black reversal candle suggests a strong bearish momentum. Sadly it didn't turn out as well.

Trades like this do happen. Don't be disheartened.
Stick to your trading plan.
With good money management you will be successful in the long run because this method works!

Imagine if you had caught the last 4 swings in GBPNZD... Lots of pips in your wheelbarrow Did you catch them all?

Thx Harlem for your feedback.

Upon looking at the chart I see what your saying. But don't we need to let the candle close before we start counting ? . Which means I entered on candle # 2. Candle 1 opening was at the low so I think if I remember right I dropped to LTF and got in on candle 2 but at a better price.
My understanding is we enter when green crosses red on the open of the next candle.
This was just one of those trades that didn't work, my SL was too close.

The attached ( busy) chart will explain what Im seeing, and if any seniors here want to jump in that's appreciated.

Cheers

W99

You are most welcomed W99 and thank you for explaining your reason of entry.
The chart you posted above helps me better understand why you entered.

I have attached an edited version of your chart below.
After studying TMS extensively, that's how I would classify the numbering of the candles from the reversal.

I would have entered on candle #2 (on my chart here) based on the entry rules of TMS.

Entering on candle #3 (candle #2 on your chart above), might also not have been a good idea because from reading price action,
that candle had pulled back on candle #2 (or candle #1 on your chart above). That would have been another reason for me not to enter
(other than being candle #3 from my reading).

Edit: My style is to take signals from the H4 time-frame exclusively... and I will always take note of the general trend on higher time-frames.
I would have entered even though the close of the candle is at its low. It does not really matter to me.. From my reading of his posts, eelfranz did not say anything about entering when the close of the candle is at or near its low.

Your style may be different than mine because you would find a better price to enter on the lower time-frames. I believe there is no right or wrong as we adapt TMS to our own styles and as long as we do not stray from the rules of TMS.

This was one of the trades that didn't go as well, but heck! There are more opportunities to come ahead!

I hope that helps!

For this method, do we care if TDI green line go's outside the blue channel for potential entry when it crosses back and through the red line?

I red differrent opinions about it on this thread...