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Trading Made Simple

  • #19,761
  • Edited 6:27am May 24, 2013 6:08am | Edited 6:27am
Quoting G.Grillz
{quote} everything seems to be good there, btw very interesting way of jounaling ur trades, if u can keep pics of all ur trades like this btw how many pairs u trade ?
The first time, i was just looking on 3 pairs. My Beginnger time in TMS, but now, after a while, i see really quickly on H4 is there an possible entry or not.
And i have now 10 pairs open.

Just looking for the best setup, and the important thing, i can trade relaxed now.
  • #19,762
  • May 24, 2013 6:30am May 24, 2013 6:30am
Quoting Fame of me
{quote}And i have now 10 pairs open. Just looking for the best setup, and the important thing, i can trade relaxed now.

do u check their corelation? cuz im doing 10 too bt if two related currencies give me the same signal i would rather double lots on one
  • #19,763
  • May 24, 2013 7:22am May 24, 2013 7:22am
Quoting hson
Hi,another first post around here. I have been studying for a while now and am taking my first steps with this system. I initiated a trade on USDCAD just now. I took it since I think there are alot of things coming together in the same spot at the moment. We are just above previous week high, bounced on channel bottom and historical support level, strong uptrend on higher TF, nice swings inside channel. I have two TP levels, TP1 close to weekly fib 161 level and TP2 might be a little off behind a support level in retrospect. The only thing bothering...
http://www.forexfactory.com/attachme...2&d=1369389119

Hi Hson,

I see this trade direction is good following the previous week direction bias and also the previous day pullback provide a good entry level.
However, it is Friday and we also need to consider UCad has already made a traded range of 175pips from this week' low to the current week high. With only a few trading hours left till NY closes I usually do not open any 4H swing trades on Friday. We do not know what will happen over the weekend and I prefer not to have any open trades over the weekend, also noting that Monday is US holiday the long weekeknd leave some uncertainty.

Let's see if you can manage to grab some pips and close this trade when Lo closes in 2 hours and before NY closes for the weekend.

Good Trading.

Regards,
EMMANUEL
Attached Image (click to enlarge)
Click to Enlarge Name: UCad week 21 range 24-5-2013 10-06-25 PM.png Size: 48 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #19,764
  • May 24, 2013 7:26am May 24, 2013 7:26am
Quoting Gizzledonk
Here's a tip for anyone with a wide screen computer that's looking for a nice way to set up the TMS system. **Screeny attached** The main H4 chart occupies roughly a square of the screen and on the right hand side.other time frames (of the same pair) have their own smaller windows on the left - set up as you find best for quick reference of support and resistance, trend etc.I put the other time frames on the left (rather than the right) as it encourages me to 'keep looking left' which is always a good idea. I use this setup for TMS all the time,...
Gizzledonk,

Excellent stuff here you posted. Thank you.
Look forward to your pdf. Take your time to make this for us.
Family comes first especially the little ones.

Regards,
EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #19,765
  • May 24, 2013 7:32am May 24, 2013 7:32am
Quoting Prominent88
{quote} Hi Emmanuel7788, 5 entry rules:1. TDI cross or bounce2. Stoch confirm the direction with TDI3. Enter in APB candle #1 or #24. Entry follow the trend Is it correct? Any advice? Thanks,Prominent88

Prominent88,

Please study this pdf Best of Big E again this weekend and read post#261 , write down the 5) rules again. You need to put the rules in proper order of priority and this is important follow the logical sequence. See post#261 attached below as pic.

Regards,
EMMANUEL
Attached Image (click to enlarge)
Click to Enlarge Name: Big E Post_261.png Size: 147 KB
Attached File(s)
File Type: pdf Best of BigE.pdf   130 KB | 2,518 downloads
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #19,766
  • May 24, 2013 7:54am May 24, 2013 7:54am
Quoting irishtoffy
Emmanuel..i took this trade. Was it a good entry? {image} {image}
Hi irishtoffy,

sorry this reply is 4 hours late. I went back to sleep.

Looking at your H1 chart entry, that entry candle is late. For H1 entry, Price Action should be given more priority over TDI cross.
In many H1 entries, we use PA with S&R, thne TDI cross is only for confirmation.
The gerenaldirection for UCad is correct following the Weekly bias UP.

Regards,
EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #19,767
  • May 24, 2013 8:02am May 24, 2013 8:02am
Hi Emmanuell7788,

This is an excellent thread and a very big one (almost 20.000 posts).
I would like to learn this strategy... can you please tell me how can i acomplish that without having to go through the whole thread.

Thanks!
Stay on the PIPest side of life!
  • #19,768
  • May 24, 2013 8:17am May 24, 2013 8:17am
Quoting PIPer
Hi Emmanuell7788, This is an excellent thread and a very big one (almost 20.000 posts).I would like to learn this strategy... can you please tell me how can i acomplish that without having to go through the whole thread. Thanks!
PIPer,

That's simple, just do what I did, .... you only need to read 463 posts.

regards,
EMMANEUL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #19,769
  • May 24, 2013 8:21am May 24, 2013 8:21am
Quoting PIPer
Hi Emmanuell7788, This is an excellent thread and a very big one (almost 20.000 posts).I would like to learn this strategy... can you please tell me how can i acomplish that without having to go through the whole thread. Thanks!
and practice, practice, practice..........
  • #19,770
  • May 24, 2013 8:28am May 24, 2013 8:28am
Quoting emmanuel7788
{quote} PIPer, That's simple, just do what I did, .... you only need to read 463 posts. regards,EMMANEUL
Thanks for the prompt reply.
Just to eliminate any doubts, you mean the first 463 posts, correct?
Thank you!
Stay on the PIPest side of life!
  • #19,771
  • May 24, 2013 8:36am May 24, 2013 8:36am
Have some fun as it is Friday.
Attached Image (click to enlarge)
Click to Enlarge Name: make your own seat.png Size: 229 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #19,772
  • May 24, 2013 8:42am May 24, 2013 8:42am
Quoting emmanuel7788
{quote} http://www.forexfactory.com/attachme...2&d=1369389119 Hi Hson, I see this trade direction is good following the previous week direction bias and also the previous day pullback provide a good entry level.However, it is Friday and we also need to consider UCad has already made a traded range of 175pips from this week' low to the current week high. With only a few trading hours left till NY closes I usually do not open any 4H swing trades on Friday. We do not know what will happen over the weekend and I prefer...



Mr Emmanuel ,

Regarding the ATR ...... How can we benefit by knowing the ATR of the weekly or daily candle ?

I Saw u put ATR . 5, 10, 15, 20 ,100 are these random or based on the frames ?

If you have others that can benefit us about ATR will be appreciated ...

Thanks in Advanced .
  • #19,773
  • May 24, 2013 8:48am May 24, 2013 8:48am
Quoting Baayesh
{quote} Mr Emmanuel , Regarding the ATR ...... How can we benefit by knowing the ATR of the weekly or daily candle ? I Saw u put ATR . 5, 10, 15, 20 ,100 are these random or based on the frames ? If you have others that can benefit us about ATR will be appreciated ... Thanks in Advanced .
Baayesh,

The 5,10,15,20 and 100 are the period of the ATr to be disply according to the chart TF selected.
If you are on the Weekly TF, then tha Data Window will show the ATR of the 5, 10, 15, 20 and 100 weeks.
When you swicth to D TF, then it shows the ATR od the 5, 10, 15, 20 and 100 Days.

These data are useful for trade planning purposes to know what the most recent volatility compared to the longer period like 100 weeks which is almost 2 years period ( one year has 52 weeks )

For intrday trading the ATR(100) of the Day is good for TP planning .

regards,
EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #19,774
  • May 24, 2013 8:50am May 24, 2013 8:50am
Quoting PIPer
{quote} Thanks for the prompt reply.Just to eliminate any doubts, you mean the first 463 posts, correct?Thank you!
Here, a pic is worth more than one thousand words.
Attached Image (click to enlarge)
Click to Enlarge Name: TMS 463 post.png Size: 136 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #19,775
  • May 24, 2013 8:54am May 24, 2013 8:54am
Ok Folks,
I am going offline now. If you have any questions, pleae post them and I will try answer them over the weekend.
It is long weekend in the US most people are knocking off early today.

Have a Great Weekend !

Be Blessed.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #19,776
  • May 24, 2013 9:24am May 24, 2013 9:24am
Have a great weekend Emms.

Aj1
  • #19,777
  • Edited 11:59am May 24, 2013 9:32am | Edited 11:59am
ohh fun day for 1h TF on EJ
total pips = +87. could have been way more if i just do the 50pips tp or trail stop.

underneath is good read over the weekend for those that just joined us.
remember, no pain no gain

Greenb

EDIT: print out Phx62 study 1 all 99 pages of em, grab some cookies, coffee or tea. strap yourself in front of a table and start studying and analyzing his trades. Why did he enters or exit, candle pattern, momentum, SR. How price react etc. by the time you finished the whole booklet, go to attachment on this thread and download part 2 and do it again.

By the end of those 2 booklet you should have at least acquire more than 200 trades experience. If you cant find 200 trades in the whole booklet, your doing something horribly wrong.

also if you are new to the world of FOREX, go to babypips . com. There is a school feature. You need to complete from preschool to at least high school.
Attached File(s)
File Type: pdf Best of BigE.pdf   130 KB | 1,043 downloads
File Type: pdf Phx62 study I.pdf   6.2 MB | 941 downloads
Daniel
  • #19,778
  • May 24, 2013 10:11am May 24, 2013 10:11am
Quoting G.Grillz
{quote} great post Gizzledonk , these days im trying to document my trading in plan so this feature is important really really important , i was thinking if sth happen i would need to call my broker to close any open trades untill i can reinstall, anyway U DA BEST ... im waiting your pdf btw guys anybody knows how to drag ATR indy into TMS , its not possible at my end , i cant pm dcginc yet cuz im new
Here is my 2 cents for you and for everyone. Always have backup on your backup if you trade live account.
if you trade anywhere close to 0.5lot. Invest a little on laptop and smart phone with internet connection. Its worth 1 winning trade as a security for the rest of your trading live.

if you lost electric power you will have a laptop that can stay on for a few hours, also you can do a theter connection using your phone to stay connected to monitor or close your trade. Or if you already have smartphone, go and download metatrader and get a plan with 3g or 4g data plan. Lets you be mobile and work as a good backup. Cant say how many time i use my phone to monitor trades when im in class.

This post is typed on my iphone since im in the gym.

Greenb
Daniel
  • #19,779
  • May 24, 2013 11:08am May 24, 2013 11:08am
Quoting irishtoffy
Emmanuel..i took this trade. Was it a good entry? {image} {image}
if i may, on your 4h TF chart, you entered on bull candle #3 that is already 1 candle too late. Also TDI even though it cross, it does not shows how powerful it is. Generally you want to take a bull TDI at the 12-2 o'clock angle. The TDI in 4h looks more like a 3.00
Add in the point that TDI cross is after the 2nd candle closed which would have invalidated this system entry point. It does not matter even if the stoch confirm because for 4h TF we first have to consider TDI. If TDI does not meet our criteria, we pass and look for another trade.
I would not take this trade.

On the 1h TF, i assume you are looking to do a bounce trade ya? The TDI even though it "bounce" is still not strong, its not on the 12-2 angle. Add in the fact that the bull candle has a wick on the bottom. To me it means at some point during the formation of that candle, bear has overwhelmed bull. Eventhough at the close it is a bull victory, it still told me that the Bull candle is weak. More importantly, that wick pass through prev day 50% fib which is sort of the "minor resistance". Therefore, i myself would not take this trade.

Lastly, i see you have SL. where is your TP?
And that SL on the H4 TF, 1.02375 is 100 pips. huge huge SL. Did you check the daily average range? that sl of your is almost as big as the whole daily range. instead of putting your SL at 1.02375, i would have put mine (if i took the trade) right on the last LH which is around 1.02826. or a really short one at 1.0315 for the reason of that bull bar. 30 pips should be more than enough to tell if the trade goes your way or will reverse on you specially since it is UC. (lower volatility)

Greenb
Daniel
  • #19,780
  • May 24, 2013 11:48am May 24, 2013 11:48am
Quoting Greenb
{quote} Here is my 2 cents for you and for everyone. Always have backup on your backup i. Greenb

worth it and thanks for ur comment, bt what i meant is that im trying to document worst possible scenarios, im communication engineer so its just in my system to get solution for worst possible case and document that.


btw guys tomorow is weekend and finally i got chance to do back testing, so what do think 3 months back test on 10 pairs each weekend and making stats on each pair wins and losses, seems i have long day tomrow

anyway worth it


P.S. for those of you who watch soccer dont foget UCL final BVB vs Bmunchen ....... BVB baby
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