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Trading Made Simple

  • #19,681
  • May 23, 2013 10:05am May 23, 2013 10:05am
Quoting irishtoffy
{quote} I took the trade before i read your replies before! Now that there is a good downthrust bar should i keep in the trade with the aim of hitting TP? Or should I get out now? {image}


but you are in H1 and it is against the H4 PA and TDI... watchout!
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #19,682
  • May 23, 2013 10:06am May 23, 2013 10:06am
Quoting gegeorge
Thinking of going short on EU H1. What do you think? {image}


look at H4, that will make you reconsider....unless I see a very good H1 3-bar reversal against the H4.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #19,683
  • May 23, 2013 10:08am May 23, 2013 10:08am
This has been a maddening year for me trading forex and it's time to get back to what works. I have the TDI basics down pretty well but somewhere in this thread there is an explanation of the TDI 50 level and when to use it - would someone be so kind as to list the post # or pdf that explains the 50 level? Many thanks, p.
  • #19,684
  • May 23, 2013 10:09am May 23, 2013 10:09am
Quoting emmanuel7788
UP Thrust Bar example: Here is one example where there is a very good UP thrust bar and in this situation you can enter when this candle#1 closes before TDI cross.Or enter during candle#2 before it closes. {image}
This trade seems ok on the 4H TF, or is the PA not strong enough? And also the W TF last few CS are green, so it would be a bad idea to sell this due to the W buy bias? Am I getting that right?

Thanks for the help and advice!
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  • #19,685
  • May 23, 2013 10:18am May 23, 2013 10:18am
Quoting emmanuel7788
{quote} look at H4, that will make you reconsider....unless I see a very good H1 3-bar reversal against the H4.

Thanks Emmanuel. I must try to stick to H4 instead of coming down to lower TF.
  • #19,686
  • May 23, 2013 10:20am May 23, 2013 10:20am
Quoting irishtoffy
{quote} This trade seems ok on the 4H TF, or is the PA not strong enough? And also the W TF last few CS are green, so it would be a bad idea to sell this due to the W buy bias? Am I getting that right? Thanks for the help and advice! {image} {image}

this USDCAD H4 setup is good counter-trend CT trade.
there is BRN 1.03800 + Prev W Fib 127% ...likely failure of the
but you need to manage closely since CT and very close to the Prev W High.
too little room to play with.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #19,687
  • May 23, 2013 10:23am May 23, 2013 10:23am
Quoting gegeorge
{quote} Thanks Emmanuel. I must try to stick to H4 instead of coming down to lower TF.

But you can use lower TF H1 and even M15 for entry in the H4 direction. This is what I do to get into the market with smaller initial SL.
But M15 requries a lot of quick thinking and reaction, not easy unless you have lots of practice. Never lose sight of how the M15 candles form up a H4 candle.
Tricky stuff but can be mastered.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #19,688
  • May 23, 2013 10:31am May 23, 2013 10:31am
Quoting piprac
This has been a maddening year for me trading forex and it's time to get back to what works. I have the TDI basics down pretty well but somewhere in this thread there is an explanation of the TDI 50 level and when to use it - would someone be so kind as to list the post # or pdf that explains the 50 level? Many thanks, p.
piprac,

when you mix with other methods and systems here in FF, this is bound to happen. Different methods/system .. different rules and unless you are a master trader, it will only cause you the problems you encountered this year.
I have been through this before therefore I am very careful when I look at other methods/systems here in FF.
TMS is trend trading and 4H period trading will yield good trades and positive winnings. It is about Entries and Exits.

TDI 50 level is no required in 4H trading. It is used by Dean Malone to trade lower TF like M15.
Why?
when you drive a fast car like a F1 , the steering must be very responsive and precise.
but when you drive a regular type car at 30MPH, then steering control is less stringent.

Regards
EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #19,689
  • May 23, 2013 10:54am May 23, 2013 10:54am
Entered USDCAD today based on H1 TDI/Price Action, managed to get a few pips but not the run I was expecting maybe because of the USD good news today. As Emmanuel said it's a risky trade as the Daily bias is pretty strong bullish, but I like the 4H chart divergence on TDI (Yellow MA). I expect the price to touch the 1.02000 level, I'll watch it again tomorrow after London open.
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“A year from now you will wish you had started today.” -Karen Lamb
  • #19,690
  • May 23, 2013 11:03am May 23, 2013 11:03am
Is this a valid buy signal?

1H - bullish engulfing CS and TDI bounce?
4H - strong CS upthrust
D - seems to be in a range recently
W - trending up

TPPrevious Week high 132.76, SL 130.00

Is it a good trade? What reasons to pass on the trade did i miss?!
  • #19,691
  • May 23, 2013 11:04am May 23, 2013 11:04am
Is this a valid buy signal?

1H - bullish engulfing CS and TDI bounce?
4H - strong CS upthrust
D - seems to be in a range recently
W - trending up
TPPrevious Week high 132.76, SL 130.00 Is it a good trade? What reasons to pass on the trade did i miss?! [/quote]
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  • #19,692
  • May 23, 2013 11:20am May 23, 2013 11:20am
Quoting emmanuel7788
UP Thrust Bar example: Here is one example where there is a very good UP thrust bar and in this situation you can enter when this candle#1 closes before TDI cross.Or enter during candle#2 before it closes.
{image}
http://www.forexfactory.com/attachment.php?attachmentid=1199438&d=1369321329


Quoting emmanuel7788
{quote} this USDCAD H4 setup is good counter-trend CT trade.there is BRN 1.03800 + Prev W Fib 127% ...likely failure of thebut you need to manage closely since CT and very close to the Prev W High.too little room to play with.
LO close, time for resting.
Why not do an exercise? easy 50pip to your bank. I study this one from Emmanuel.
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  • #19,693
  • May 23, 2013 11:34am May 23, 2013 11:34am
Quoting irishtoffy
Is this a valid buy signal? 1H - bullish engulfing CS and TDI bounce?4H - strong CS upthrustD - seems to be in a range recentlyW - trending upTPPrevious Week high 132.76, SL 130.00 Is it a good trade? What reasons to pass on the trade did i miss?!
{image}[/quote]Why not?
This week is very very profitable week for me...

Cheer,
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  • #19,694
  • May 23, 2013 12:14pm May 23, 2013 12:14pm
Took 1 trade today on the AU H1 at LO.....price reversed following a pullback/pinbar reversal pattern from the Frankfurt session candle and the next candle turned blue and the TDI green crossed over red and was moving out of the oversold area......good for an easy 100 pips.
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  • #19,695
  • May 23, 2013 1:10pm May 23, 2013 1:10pm
Quoting emmanuel7788
{quote} piprac, when you mix with other methods and systems here in FF, this is bound to happen. Different methods/system .. different rules and unless you are a master trader, it will only cause you the problems you encountered this year.I have been through this before therefore I am very careful when I look at other methods/systems here in FF.TMS is trend trading and 4H period trading will yield good trades and positive winnings. It is about Entries and Exits. TDI 50 level is no required in 4H trading. It is used by Dean Malone to trade lower...
Thank you for the reply. I knew I had read it somewhere before and a long time ago. I did do a search query in this thread which turned up nothing so that is why I asked. What peaked my interest is the Phx62 post where he traded the 15M during the Asian. I am not much of a tv watcher so I thought evenings up to 11-12 pm might produce some pips, and then the 4H at 7am cdt/us. Thanks again, p.
  • #19,696
  • May 23, 2013 1:12pm May 23, 2013 1:12pm
Quoting Quezoy
I've been backtesting a bit with a higher TF Stoch as a filter. Trades are taken only in the direction of it. Appears to be quite successfull. If somebody wants to try, just throw it into your TDI or a seperate window and set to one TF above your trading TF. {file} {image}

Your stochastic for the 4-hour chart should be set to 8-3-3 that what the rules are

Low TF 5-3-3

Thank for indicator will back test it set at 8-3-3.
  • #19,697
  • May 23, 2013 2:20pm May 23, 2013 2:20pm
some of you mentioned scalping in H1 - after how many pips in profit you close the trade ?
  • #19,698
  • May 23, 2013 6:09pm May 23, 2013 6:09pm
Hi all,
I just want to say thanks to all who developed this TMS and established this community of supporting each other.
After some frustrating experiences I did a 2 years break - currently preparing to get back to the markets by trying to focus on the realy important things.
I didn’t do any trade so fare using TMS but after investing several hours in back testing and reading this thread I won something much more important: confidence!

Thank you so much!
  • #19,699
  • May 23, 2013 7:28pm May 23, 2013 7:28pm
Quoting croopskee
some of you mentioned scalping in H1 - after how many pips in profit you close the trade ?
croopskee,

Scalping can be done using M15 chart timframe. That requires a lot more skills. Not recommended for beginners to trading.

H1 chart timeframe is more suitable for intraday trading but requores the skills to read Price Action aka PA.

4H trading is easier to learn and over a longer term more proftable when we build in a proven money management strategy and use of position sizing plus the proper use of scaling-in and scaling-out trades when we are caught in a trend breakout.

regards,
EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #19,700
  • Edited 8:16pm May 23, 2013 7:35pm | Edited 8:16pm
H1 Training Chart

Here is an example using AU to trade TMS on H1 chart timeframe:

Plesae note that when we trade H1, we rely a lot more on Price Action at Support & Resistance, hence the acronym PASR.
For simplicity, we shall be using only the Prev D Fib and Prev W Fib plus the Round Number RN price levels on our charts.
I will not talk about using historical S&R now as it will be shared and discussed in TMS 4H trading.

Hope this will help some of the new members joing this thread recently.

Regards,
EMMANUEL
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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
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