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Trading Made Simple

  • #18,261
  • Apr 25, 2013 11:51pm Apr 25, 2013 11:51pm
Quoting Greenb
Hi guys, been following this thread for a bit now and is finally confident enough to start trading live just entered sell into gj tdi is crosing down and stoch confirm the move. any comment/advice is much appreciated {image}
Hi Greenb,

In my opinion, that is a solid and valid entry based on the rules of TMS. A+

TDI crossed with a good angle.
TDI coming down near 68.
PA rejected previous resistance.
Bearish engulfing bar.
Stoch coming down from 80.

Those reasons would be enough for me to enter.

  • #18,262
  • Apr 25, 2013 11:51pm Apr 25, 2013 11:51pm
Quoting Harlem
{quote} Hi driven, I use ATR(7) for my T/P levels because it gives me a consistent number to set them based on previous price action movement. I had about 14 trades total last week + this week and all of them hit T/P 1. About 70-80% hit T/P 2 and the rest went back to BE. (I move them to BE after T/P 1 is hit) For S/L preferably I'd put it at the previous swing high/low, or ATR(7)x2, whichever is nearer to my entry. Like dcgnic said in his posts it is a very low maintenance money management...
Hi Harlem,
So, your first target (T/P 1) is R:R=0,5??, and secound target (T/P 2) is R:R=1.
Just to clarify, no loosing trades, or all get T/P 1??
JacekPreserve Precious Capital
  • #18,263
  • Apr 25, 2013 11:57pm Apr 25, 2013 11:57pm
Harlem,

Another Q, do you enter a trade with 2 lots and then close out 1 lot at T/P 1 or do you enter with 1 lot and close out a percentage of that at T/P 1?
  • #18,264
  • Apr 25, 2013 11:58pm Apr 25, 2013 11:58pm
Quoting terminator12
Emmanual TDI PL 12-2 What P L stand for Malcolm .

TDI is gneral name for the complete indicator:

Green line = RSI Price line PL
Red line = Trade Signal line TSL
Blue lines = Volatility Band VB
Yellow line = Market Base Line MBL

attached notes from Dean Malone
Attached File(s)
File Type: pdf Traders Dynamic Index Notes .pdf   10 KB | 2,273 downloads
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #18,265
  • Apr 25, 2013 11:59pm Apr 25, 2013 11:59pm
Quoting adamjhdavis
Hi Guys, Can anyone give me a link where I can find the Dean Malone Video on the TDI? Thanks Adam
Hi Adam,

Here it is: http://www.compassfx.com/video/#Synergy

Look under "Synergy Method & TDI".

Also please take note that Big E clearly stated that he did not use the TDI in the same way as what Dean Malone do and that the Trading Made Simple method is not the same is as the Synergy system. I am just saying that so everybody know before looking at the DM/ Synergy stuff. But I also know that SnarlyJack advised people to have a look at the DM/ Synergy stuff to understand the TDI better. And I rate SnarlyJack's opinion quite a bit.

Enjoy.

Cheers
  • #18,266
  • Apr 26, 2013 12:08am Apr 26, 2013 12:08am
Quoting emmanuel7788
{quote} TDI is gneral name for the complete indicator: Green line = RSI Price line PL Red line = Trade Signal line TSL Blue lines = Volatility Band VB Yellow line = Market Base Line MBL attached notes from Dean Malone {image}
Emmanual Thanks Malcolm
  • #18,267
  • Apr 26, 2013 12:20am Apr 26, 2013 12:20am
Quoting Pipsmurfer
Good Morning, (for me) Emmanuel, may we call this also a channel breakout? Not so clear as on GU Yesterday but i'v taken a short. Offcourse others may comment also, I have to learn to recocnise these patterns. Thanks in advance {image}

Pipsmurfer,

That's good practice to draw the channel.
You can use that trendline through your point 2 and 4 and trade a possible breakout. The TDI currently support this downmove. Beawre of Japoan news today and there may be fast action.

See my chart attached below. See if you can follow those channels I drew in sequence of each three swing points and TDI cross.

Regards,
Attached Image (click to enlarge)
Click to Enlarge Name: EJ Waves and Channels 26-4-2013 3-05-51 PM.png Size: 73 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #18,268
  • Apr 26, 2013 12:20am Apr 26, 2013 12:20am
Hi,Guys!
I am new on this thread...I am sorry, but can SomeOne attached The Latest Template ( all Indicators I ready have ). Thanks.
  • #18,269
  • Apr 26, 2013 12:24am Apr 26, 2013 12:24am
Quoting balance001
Hi,Guys! I am new on this thread...I am sorry, but can SomeOne attached The Latest Template ( all Indicators I ready have ). Thanks.

balance001,

since you have all the indicators, please apply them on a new clean chart and saved that as your template.
Then make a screenshot and post here.
We wil look at your chart and see if you have things setup correctly the way it should.

How about this?

Regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #18,270
  • Apr 26, 2013 12:44am Apr 26, 2013 12:44am
Quoting emmanuel7788
{quote} Pipsmurfer, That's good practice to draw the channel. You can use that trendline through your point 2 and 4 and trade a possible breakout. The TDI currently support this downmove. Beawre of Japoan news today and there may be fast action. See my chart attached below. See if you can follow those channels I drew in sequence of each three swing points and TDI cross. Regards, {image}
Thanks Emmanuel, actually the purple one that one I missed. I'will use the yellow channel to manage my trade. At this moment my short is at loss, but I have a little buffer of the trade I closed this morning. I took that Yesterday on the 1H after the PA touched resistance 3 times.
Attached Image (click to enlarge)
Click to Enlarge Name: short25042013.png Size: 87 KB
  • #18,271
  • Apr 26, 2013 12:58am Apr 26, 2013 12:58am
Quoting Pipsmurfer
{quote} Thanks Emmanuel, actually the purple one that one I missed. I'will use the yellow channel to manage my trade. At this moment my short is at loss, but I have a little buffer of the trade I closed this morning. I took that Yesterday on the 1H after the PA touched resistance 3 times. {image}

That trade entry during NY session was good. The PA did not move above the TOK_5H high, exaclty as you spotted it tested the prev D high and failed. Then it breakout below. Remember 24 Apr, EJ made a very large range of 85 pips during the TOK_5H and it did not move outside that 85pips range.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #18,272
  • Apr 26, 2013 1:03am Apr 26, 2013 1:03am
EA H4 long with PA bouncing off recent support and TDI turned up.

Comments welcome
Attached Image (click to enlarge)
Click to Enlarge Name: EAH4.GIF Size: 23 KB
  • #18,273
  • Apr 26, 2013 1:13am Apr 26, 2013 1:13am
Quoting wizard99
EA H4 long with PA bouncing off recent support and TDI turned up. Comments welcome {image}
http://www.forexfactory.com/attachme...1&d=1366963428


I am very impressed with your clean chart. No 5EMA.... you are now one level higher.

Good entry!

remember this week' open?

also 1.2680

this may be good to continue into next week.
When next week open, look out for the WPv. If PA continue above the WPv, it will be a good swing trade.

Manage this baby well till she grows up.

Good Trading!
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #18,274
  • Edited 1:26am Apr 26, 2013 1:14am | Edited 1:26am
Quoting Jackub
{quote} Hi Harlem, So, your first target (T/P 1) is R:R=0,5??, and secound target (T/P 2) is R:R=1. Just to clarify, no loosing trades, or all get T/P 1??
You got that right Jackub!
I know it is an unconventional method by setting my T/P 1 @ R:R = 0.5 and T/P 2 @ R:R = 1
I find that it works well and suits my risk. Very conservative... Just my style...
Sometimes I will let the 2nd leg run further and trail it by increasing the stops.

My S/L are just emergency stops... I rarely let my trades hit S/L.
I will watch PA as new candles appear and exit when necessary, and accept the loss.
Then I'll review the trade and find out how I could have improved on that entry/exit.

I am adapting to increase R:R to 1 for T/P 1 and more for T/P 2. Just like how emmanuel does it.

I have a consistent system already in place for myself, but I am always looking for ways to improve it further.

I'm not suggesting anyone to do how I do it. Find your own MM style and stick/adapt to it... Tweak/improve it if you feel that there is still room for improvement.

Quoting usdtrader
Harlem, Another Q, do you enter a trade with 2 lots and then close out 1 lot at T/P 1 or do you enter with 1 lot and close out a percentage of that at T/P 1?
Hi usdtrader,

For example...
If I intended to enter with 1 lot for the trade, then I will make two 0.5 lot entries. I find it easier to manage the trade this way for T/P.
I only trade the H4 as I do not have the luxury of time to check the charts very frequently. That is why I use T/P levels...

Cheers!
  • #18,275
  • Apr 26, 2013 1:22am Apr 26, 2013 1:22am
Am I correct with template?
Attached Image (click to enlarge)
Click to Enlarge Name: instatrader.png Size: 142 KB
  • #18,276
  • Apr 26, 2013 1:29am Apr 26, 2013 1:29am
Quoting balance001
Am I correct with template? {image}
http://www.forexfactory.com/attachme...1&d=1366964527

yes, your chart setup looks okay to start with. Save that as your TMS template.
You don't need to show us your complete Window screen and your InstaForex account number. If that is live account, someone will hack it already and traded all your money.

And you are on M15... we discuss mainly 4H trading.
Do you trade M15 all the time?
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #18,277
  • Apr 26, 2013 1:42am Apr 26, 2013 1:42am
I'm considering this long on EURGPB. Resistance of low in March. and IB on H4. My candle time expires in 20 minutes. Any comments?
Attached Image (click to enlarge)
Click to Enlarge Name: long26-04-2013.png Size: 97 KB
  • #18,278
  • Apr 26, 2013 1:54am Apr 26, 2013 1:54am
Quoting Pipsmurfer
I'm considering this long on EURGPB. Resistance of low in March. and IB on H4. My candle time expires in 20 minutes. Any comments? {image}
http://www.forexfactory.com/attachme...1&d=1366965758

You mean March low as support not resistance.
There is obvious consolidation now at Prev W Fib-e 161% 0.8420 which I see as weekly support.
is there key news mover why market will buy EUR and sell GBP today?
D is too strong down with good UK GDP yseterday.
Unless I see a good Price Action bullish reversal setup I wont buy today.
You notice the TDI PL went outside the VB and now re-enters the VB ... very often price goes sideway until a reversal shows up. But the below level 32 is good sign for Buy*. Look for bullish divergence of TDI and PA.
We want a A+++ setup for this one.

PATIENCE and TIMING...

Can you be the watchlist person for this pair and give everyone signal when the A+++ appears?
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #18,279
  • Apr 26, 2013 2:07am Apr 26, 2013 2:07am
Quoting emmanuel7788
{quote} {image} You mean March low as support not resistance. There is obvious consolidation now at Prev W Fib-e 161% 0.8420 which I see as weekly support. is there key news mover why market will buy EUR and sell GBP today? D is too strong down with good UK GDP yseterday. Unless I see a good Price Action bullish reversal setup I wont buy today. You notice the TDI PL went outside the VB and now re-enters the VB ... very often price goes sideway until...
Dumb mistake, offcourse I mean support. The H4 candle closed as an indecesive bar, long wicks no body, also there is less momentum. I see pressure on the Euro on other pairs, this together with your good advise results in no trade yet. Just keep in observation.

Thank you very much for your quick reactions. As I experience myself how much time it takes to make a post, I want to make a deep and respectful bow for your contributions.

Update:
I see you added an question,and yes I'will try to make an positive contribution to this thread,
  • #18,280
  • Apr 26, 2013 2:08am Apr 26, 2013 2:08am
Looks like GBPUSD is ready to short ?
TDI and stoch Cross south.
Maybe have to fine tune entry.
Any advice ?

Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdh4.png Size: 33 KB
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