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Trading Made Simple

  • #18,461
  • Apr 30, 2013 12:58pm Apr 30, 2013 12:58pm
Hi Wizzard,

what is or where do i find the tool that creates the 'R' lines on your chart ???

nelly
  • #18,462
  • Edited 4:25pm Apr 30, 2013 1:12pm | Edited 4:25pm
PHx62 Please give me indicator as u got , Dunno called . Like M1 M5 M15 H1 H4 D1 W1 M1 , i cant find it in paperclip , I got arjun 10 EMA and time trend but urs is better , Malcolm
  • #18,463
  • Apr 30, 2013 2:15pm Apr 30, 2013 2:15pm
Hi Guys,

Need some quick help, wasn't here around 16h00 my time and AUD, EUR and GBP all spiked up quite quickly, was that because of the CB confidence number? Was in the green on both trades and the ews turned it on me ONE SHOT!

Got stopped on both GBPUSD and AUDCHF
@pawpaw1000 on Twitter
  • #18,464
  • Apr 30, 2013 7:37pm Apr 30, 2013 7:37pm
Quoting emmanuel7788
UChf week 17 H4 Trade doen on 26 Apr: Here is my Uchf trade taken last Friday. This is not a TMS candle#1 nor #2 entry. It is a CONTINUATION setup entry using PA using the H4 DIB (Double Inside Bar) breakout at S&R after the news event on Friday. {image}
http://www.forexfactory.com/attachme...1&d=1367279789

Quoting emmanuel7788
{quote} {image} Here is my trade update showing how I manage this trade before frankie. 1% in my bag, 2 % protected and is a free trade. {image}
http://www.forexfactory.com/attachme...1&d=1367299690

Hi,
Here is my trade update for UChf.
Took profit +147pips for 2nd Pos. Now left with last pos open protected with FP at .93670.
I don not know where market will go, therefore I just procet the downside of all my trades all the time.
Now puhs my final TP to Prev Week 16 Low at 0.9210 region, also BRN 0.9200...there is CONFLUENCE of S&R in that region too.
UChf has weekly range between 168 and 2105, and so far this has made 152pips already. I see some room down to go should this current down flow continues.
The APB/HA candle still looking good with flat top ends. Price bars/candles also show bearish with H4 consolidation near BRN 0.9300.

Concern is that there are many sellers techncial stops above which will attract stop hunting. We never know this for sure therefore we will trade TMS in the way it should be.

Trade Well.
Attached Image (click to enlarge)
Click to Enlarge Name: UChf week 18 H4 trade update 1-5-2013 6-53-51 AM.png Size: 36 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #18,465
  • Apr 30, 2013 7:57pm Apr 30, 2013 7:57pm
Quoting emmanuel7788
EURGBP week 18 29 Apr H4 trade: Here is my EG trade taken yesterday which fulfills all the TMS entry rules checklist on my chart. CONFLUENCE of S&R .... The challenge is 0.8455 now. but a 50% retracement is good. {image}
http://www.forexfactory.com/attachme...1&d=1367279039

Quoting emmanuel7788
{quote} {image} Here is my update before LO. Reduced my remaining trade risk with partial exit. {image}
http://www.forexfactory.com/attachme...1&d=1367303017

Hi,
My trade update for this EG trade:

See notes on the attached chart below.

Also if you swtich to D chart, you will see the prev day Bullish candles and A TMS setup for D chart traders.
But the question is : Do you jump in at D open or wait for a retracement of yesterday D candle?

This is when you need to ask yourself which method you have decided to use for such trade setup condition/
SE/SE
SE/ME
ME/SE
ME/ME

Work on these Entry and Exits methods.
Attached Image (click to enlarge)
Click to Enlarge Name: EG week 18 30 Apr H4 trade update 1-5-2013 6-56-34 AM.png Size: 74 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #18,466
  • Apr 30, 2013 8:13pm Apr 30, 2013 8:13pm
Hi,

This is my first post here as Im a newbie trying to learn the system! But I've got to say, having read all the posts in this thread, it is a first-class resource for people trying to learn FX trading and the TMS system! SOme people put a lot of time and effort in to helping others, and it is greatly appreciated!

I'm trying to perfect my use of the TMS system, but I feel I need to improve my Price Action reading skills. Does anybody have a link/pdf/information that I could use to improve my knowledge of HA Candles and their relevance to price action?

Thanks!

Paul
  • #18,467
  • Apr 30, 2013 8:23pm Apr 30, 2013 8:23pm
Market Types:

Like many trend traders, my favourite market type to trade is the Impulse Wave.

EJ last Impulse Wave has ended and market has gone into consolidation - a contracting triangle type of chart pattern.

Impulse Wave has 5-waves in it. Wave_3 is usually the longest wave of the 5-waves.

EJ will make the next big move whether it will be another Impulse Wave we do not know until we see Price Action and historical S&R. This is where your Big Picture planning will come in handy.

It can continue in consolidation for longer time and we will see a series of 3-waves patterns and should that go into an Expanding triangle, that is the second best Market Type to trade TMS.

Trade Well.



Attached Image(s) (click to enlarge)
Click to Enlarge Name: Market Type - Trending .png Size: 35 KB
Click to Enlarge Name: EJ Market Types 1-5-2013 9-05-13 AM.png Size: 91 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #18,468
  • Apr 30, 2013 8:32pm Apr 30, 2013 8:32pm
Quoting Nellycopter
Emmanuel, ill be off to the pub again now............... nelly

Nelly,

I want to help you so that you will not become a regular sitting at the pub' bar. It can be a dangerous place to be sitting there so often. LOL.

Ok, now tell me :
- which ccy pair did yiou trade this week
- what are you trading hours (UK time please)
- which timeframe do you trade H4 or H1,
- ***if you trade M15, don't tell me this... unless you use that for fine tuning your trade entries.
- your entry/exits method do you use? ***read my post with pdf on Entry and Exits
- your percentage risk you use for each trade.

Yesterday I went pubbing too, but for different reason.

cheers love,
EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #18,469
  • Apr 30, 2013 9:07pm Apr 30, 2013 9:07pm
Quoting kbforex
hello All! could anybody pls help me a BACKTESTING SIMULATION on MT4 platform. thanks

Hi kbforex,

If you are looking for a simulator to use for back-testing, there is one posted in post 13,116

http://www.forexfactory.com/showthre...00#post5088200

I had never used that one.


But some years ago I treid this one call LFH Simulator and it can be found here in Forex Factor posted sverela times in other threads.
Just use the FF Forum search.

Regards,
EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #18,470
  • Apr 30, 2013 9:21pm Apr 30, 2013 9:21pm
Quoting Phx62
Four trades so far this week. This really is Trading Made Simple!!! {image}
http://www.forexfactory.com/attachme...1&d=1367336736

4 Super Trades as usual by our H1 trader Phx62.

EJ is great to trade beacsue of its high volatility in 1-H , 4-H and D

Once you get your TMS entry timing perfected, the pips keep rolling in.

Here is what the pips range is like in various timeframes:
The [20x] show you the average last 20 H1 bars is 31 pips,
the [20x] H4 is 65pips....
the [5x] last 5 days average is 127 pips.
Attached Image
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #18,471
  • Apr 30, 2013 9:27pm Apr 30, 2013 9:27pm
EJ 1 May 2013

If you look at D chart, there is something nice I see.
H4 is sideway ....and
on H1 you can see the details ....
so you must have today a Plan A and a Plan B.

A Plan C is good when both Plan A and Plan B fails you.

Trade Well folks!

I am going to bed and back again when LO in few hours.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #18,472
  • Apr 30, 2013 9:31pm Apr 30, 2013 9:31pm
New Month MN

It is a new month today, so you need to update your Big Picture planning with a new MN candle closed.

Anyone done his/her, please post and share.

Thank you...


bis später
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #18,473
  • Apr 30, 2013 11:12pm Apr 30, 2013 11:12pm
Hello everyone,

I just returned from an overseas trip yesterday since Friday.
Haven't taken any trades since... Still probing for A+ setups for the coming days.
Just thought I'd share my current short term monthly analysis here.
Just a simple analysis... I don't like to complicate things.

I'd recommend every serious trader to do a top down analysis at the end of every week.
It will really give you a bigger perspective for the coming week.
Your trades and price action movements on the H1, H4 or even Daily will make more sense when you see and understand the bigger picture.

Do re-read the posts by emmanuel a few pages back as well if you haven't understand fully what he was trying to teach us. Those are golden nuggets which you can learn and add to your trading toolbox.

Attached Image (click to enlarge)
Click to Enlarge Name: EUMonthly.png Size: 36 KB


One more thing... Did you realize that the wicks on the April monthly candle are really short.
You might have seen a similar type of candle on the H1, H4, daily...
Now what could that suggest?
  • #18,474
  • May 1, 2013 12:07am May 1, 2013 12:07am
Entered long EUR/JPY after New York open, TDI crossed up from 32 zone, PA seems to have set the low of the day, setup candle an outside bar, PA moved away from RN 127.500, a trend following trade

TP hit for + 52 pips

I hope that my analysis is correct , especially if I'm correct about the outside bar, I'm very much on the positive side for the first time in my Forex trading and the first week, so let's just try and keeps the pips coming , my winner chart journal is getting bigger by the numbers of winners trading charts


Thanks Everyone , all the mentors who works hard day in and day out, your effort to see us on the right side and track is paying off

So let's make this week a positive week
Attached Image (click to enlarge)
Click to Enlarge Name: 5-1-2013_winner.jpg Size: 284 KB
I Have Learned to Take Some Losses to Make Profits
  • #18,475
  • May 1, 2013 12:20am May 1, 2013 12:20am
Quoting TheScorpS
Entered long EUR/JPY after New York open, TDI crossed up from 32 zone, PA seems to have set the low of the day, setup candle an outside bar, PA moved away from RN 127.500, a trend following trade TP hit for + 52 pips I hope that my analysis is correct , especially if I'm correct about the outside bar, I'm very much on the positive side for the first time in my Forex trading and the first week, so let's just try and keeps the pips coming , my winner chart journal is getting bigger by the numbers of winners trading charts Thanks Everyone , all the...
That is an A+ entry in my books.
Keep updating that journal of yours!

Attached Image (click to enlarge)
Click to Enlarge Name: attachment.jpg Size: 266 KB
  • #18,476
  • May 1, 2013 12:48am May 1, 2013 12:48am
Quoting Harlem
{quote} That is an A+ entry in my books. Keep updating that journal of yours! {image}
Yes Halrem thank you for your words, indeed I don't leave a trade without taking a snapshot and writes my notes on the charts and save it in my trading journal folder, it helps a lot in tracking positive and negative attitudes and rewarding the positive ones and try to minimize the negatives trades

I have 2 folders, one named WINNERS and the other is LOOSERS , so winners go into the winner folder and the same applies for negatives trades


Also I do it as a part of trading discipline


Thank you again
I Have Learned to Take Some Losses to Make Profits
  • #18,477
  • May 1, 2013 12:57am May 1, 2013 12:57am
Quoting emmanuel7788
New Month MN It is a new month today, so you need to update your Big Picture planning with a new MN candle closed. Anyone done his/her, please post and share. Thank you... bis später

Hi Emmanuel,

I'm travelling at the moment, but will do just that once I'm back in front of the PC tomorrow. I haven't looked at monthly before so should be interesting to do.

W99
  • #18,478
  • May 1, 2013 1:03am May 1, 2013 1:03am
have a question,
so according to PASR, this tms setup is one that is considered to be risky or one to be avoided then ya?
since even though tms crosses and indicate long, there are still resistance in 128.30?
Attached Image (click to enlarge)
Click to Enlarge Name: ej 1h.gif Size: 55 KB
Daniel
  • #18,479
  • May 1, 2013 2:50am May 1, 2013 2:50am
Hello Traders,
As all you know I am a permanent newbie.....
The April is over, so there is a time to look back a little, and share with newbies my observations concerning my trading results. Do not present charts here, wining strings, rather observation which, I believe , can help other newbies to avoid mistakes, I was repeating during month of April…
First let me make same rules…. winner is a trade which is closed positively, minimum+2 pips, looser is all other below +2 pips of gain….
I was trading mostly H1 timeframe, as this one suits me (at least I think so) best, only six pair has been traded, AU, EJ, EU, GU, UC, UCH… but vast number of trades was on AU, EU, GU…. only one trade at the time,…. and R:R=1
47 trades was made .. is it much ?? something like 2 trades a day on H1 is not so much
72% winning trades, does it look bad?? not bad at all… but whole result is NEGATIVE… I tried to find out why this happen and would like to share conclusion with others, hoping will help to avoid same kind of mistakes.
I spent few hours and once again analyzed ALL trades I made in April.
Winners: 34,
but 17 of them closed by 2,0 , 5,0 or maybe 8,0 pips max. Time showed ALL of them could be closed at least at R:R=1, ONLY if I could manage my FEAR of lost trade. And guess what, 12 winners locked TP at R:R=1 could generate 3R profit gain, if I only could manage my FEAR and lack of PATIENCE
Lost trades: 13,
in 9 cases trade taken on H1 was against TDI on H4, isn't it simple ?? 70% of lost trades ONLY BECOUSE of rush to pick up a trade, with no checking the BASIC RULES ???? In 2 cases, the other rules was broken like no proper TDI cross or STOCH direction trade confirmation.
This shows precisely what I have to improve to be a better trader… what about you?
JacekPreserve Precious Capital
  • #18,480
  • May 1, 2013 3:25am May 1, 2013 3:25am
Quoting Greenb
have a question, so according to PASR, this tms setup is one that is considered to be risky or one to be avoided then ya? since even though tms crosses and indicate long, there are still resistance in 128.30? {image}
Hi Greenb,

As you can see from the chart you posted,
PA have been ranging for the past few hours,
PA on the signal candle is weak even though there was a TDI cross.
I would wait for a clear breakout from the ranging support & resistance and enter on the breakout.

Quoting Jackub
Hello Traders, As all you know I am a permanent newbie..... The April is over, so there is a time to look back a little, and share with newbies my observations concerning my trading results. Do not present charts here, wining strings, rather observation which, I believe , can help other newbies to avoid mistakes, I was repeating during month of April… First let me make same rules…. winner is a trade which is closed positively, minimum+2 pips, looser is all other below +2 pips of gain…. I was trading mostly H1 timeframe, as this one...
Great reflection and thanks for sharing your thoughts Jackub.

You know what you need to improve on so do work on it!
You said "70% of lost trades ONLY BECOUSE of rush to pick up a trade"
I think that is one of the biggest things you need to work on.
Think about how it would be like once you have mastered your emotions.
Think about it and how much successful you can be.

Uncontrolled emotions are like a resistance to a traders full potential.

GREED
FEAR
AFRAID OF MISSING OUT AN OPPORTUNITY
AFRAID OF LOSING A TRADE
UNSURE OF MY TRADING SYSTEM/ABILITIES
AFRAID OF FAILURE

Does that feel familiar?

It takes time to create that control over our emotions.
Just like how people with anger issues take time to learn how to control their own anger.
Keep working on it and I'm positive that you will find a way through it.

Best wishes,
Harlem
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