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Trading Made Simple

  • #19,801
  • May 25, 2013 6:59pm May 25, 2013 6:59pm
For my homework Nr 2 I decided to only go into a deeper analysis for the losses I did:

Loss Nr 1 & 2:
Attached Image (click to enlarge)
Click to Enlarge Name: eurusdh4-loss1-and-2.png Size: 53 KB


Loss Nr 3, 4 & 5:
Attached Image (click to enlarge)
Click to Enlarge Name: eurusdh4-loss3, 4, 5.png Size: 66 KB


Any feedback is welcome.

By the way: I changed the background colour of the standard template to "white" (safe ink) and got a strange thin black line connecting the bars. Does anybody know how to get rid of this line? It seems that I am not allowed to change the indicator.

Cheers Bernhard
  • #19,802
  • May 25, 2013 7:10pm May 25, 2013 7:10pm
Bernard, hi mate. just wondering if you attached your indicator to your posts, i couldn't see it! Great job!

Emanuel, I know many questions take your time, so will only ask 1 at a time, you do what you call good (thanks in advance)

ALSO OTHERS are welcome to help!!! i mean if I knew the answers I would, so why only Emmanuel answers questions guys? it's like we all rely on one guy

Emmanuel, so I attached you previous diagram on GU explaining all the potential trade that I definitely missed.

I see many of them do NOT respect the rule which I thought was a golden one (sorry for my ignorance) That Is shorting even though the indicator it's not at 68 and going long if the indicator is not at 32

thanks!!!!! HOw is your Sunday going mates?
Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 33 KB
  • #19,803
  • Edited 9:29pm May 25, 2013 7:12pm | Edited 9:29pm
Quoting BernhardA
For my homework Nr 2 I decided to only go into a deeper analysis for the losses I did: Loss Nr 1 & 2:{image} Loss Nr 3, 4 & 5:{image} Any feedback is welcome. By the way: I changed the background colour of the standard template to "white" (safe ink) and got a strange thin black line connecting the bars. Does anybody know how to get rid of this line? It seems that I am not allowed to change the indicator. Cheers Bernhard
that black line is when you chose to show price as Line Chart, switch to Bar Chart instead.
That Line chart is actually shows the close price of the price bar/candle.

Next thing you want to try is CTRL + Y and CTRL + G to see what happens on your chart background.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #19,804
  • Edited 9:30pm May 25, 2013 7:17pm | Edited 9:30pm
Exit question:

Here is your Saturday night quiz before I go out to party this wild Sat night.

Tell me which candle will you exit this trade example. See chart below.

Just give me the candle number and your reason(s).

Try it first and before I post the next lesson on Exit Management using PA.
Attached Image (click to enlarge)
Click to Enlarge Name: Exit question.png Size: 27 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #19,805
  • May 25, 2013 7:19pm May 25, 2013 7:19pm
Emmanuel, i asked you some posts ago what is your trading room, I am interested. Probably others are? thanks
  • #19,806
  • May 25, 2013 7:29pm May 25, 2013 7:29pm
Quoting BernhardA
Hi all,today I wanted to learn from my mistakes from yesterday.My lessons from yesterday Apart from the rule "green crosses red" I didnt follow any rule... for the rest I just acted by feeling Its not intuitiv to write all the notes into the MT4 charts. I definitly need to do more homeworks.What I have done today: I invested in a Din-A3 printer I went through the thread and collected rules I should follow by using TMS (see attachement) I did my second homework: EUR/USD from 1st of Jan to 8th of March 2013 (4h) Method: using F12 on MT4...

Good work Bernhard,

You don't need a DIN A3 printer. You need a HP A0 plotter and make huge banners. ...LOL.

But invest in a good high res LED monitor. I use a huge HD 24" LED to see more details for planning and study.

Do you live in Bavaria?

Have a Good Weekend.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #19,807
  • May 25, 2013 7:37pm May 25, 2013 7:37pm
Quoting thewriter30
Emmanuel, i asked you some posts ago what is your trading room, I am interested. Probably others are? thanks
Hi thewriter30,

Currently there are 9 traders in my live trading room. I added 3 new mebers this year so far and we do not have plan to add more at this point. There are many reasons which I do not want to post here.
But I am still thinking if we should have a new group in the second half of this year but this will depends on the number of interests and the quality of the traders.

Let's see how this thread will progress for a few more months and I will pick only the active members posting and sharing their trades and work here.

Regards,
EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #19,808
  • May 25, 2013 9:34pm May 25, 2013 9:34pm
Hi Emmanuel,

Close of 5/open of 6
5 is first candle closing lower. TDI and Stoch also crossed down


Quoting emmanuel7788
Exit question: Here is your Saturday night quiz before I gpo out to party this wild Sat night. Tell me which candle will you exit this trade example. See chart below. Just give me the candle number and your reason(s). Try it first and before I post the next lesson on Exit Management using PA. {image}
  • #19,809
  • Edited 10:11pm May 25, 2013 9:59pm | Edited 10:11pm
Quoting emmanuel7788
Exit question: Here is your Saturday night quiz before I go out to party this wild Sat night. Tell me which candle will you exit this trade example. See chart below. Just give me the candle number and your reason(s). Try it first and before I post the next lesson on Exit Management using PA. {image}
Hi Emmanuel I would be looking to exit when the TDI was flattening out and then exiting within the 5th candle which is a pull back candle and as Big E said you can enter again if it was a bounce on the TDI. What indi do you use for your TP and SL levels .Thankyou for being so generous with your time.


James
  • #19,810
  • May 25, 2013 11:30pm May 25, 2013 11:30pm
Quoting khidir
{quote}Hi Emmanuel I would be looking to exit when the TDI was flattening out and then exiting within the 5th candle which is a pull back candle and as Big E said you can enter again if it was a bounce on the TDI. What indi do you use for your TP and SL levels .Thankyou for being so generous with your time. James
The EP SL TP lines are drawn using MT4 script, and I use them to explain on my charts.
Posted earlier post#19760
http://www.forexfactory.com/showthre...84#post6705584

I am doing a new version which will calculate the initial SL using ATR...
i need to test them when market open tomorrow.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #19,811
  • Edited May 26, 2013 12:11am May 25, 2013 11:41pm | Edited May 26, 2013 12:11am
Quoting BernhardA
For my homework Nr 2 I decided to only go into a deeper analysis for the losses I did: Loss Nr 1 & 2:{image} Loss Nr 3, 4 & 5:{image} Any feedback is welcome. By the way: I changed the background colour of the standard template to "white" (safe ink) and got a strange thin black line connecting the bars. Does anybody know how to get rid of this line? It seems that I am not allowed to change the indicator. Cheers Bernhard
Loss no1:
At 1 point, trade move in your direction for more than 50 pips. when that happens, i would have put my SL at BE. after all if price move your way 50 pips, it should not do a u turn suddenly and bite you right. Also notice how on the 3rd bear candle it has a big pullback closing the candle with a long wick and a flat TDI? that should have been your exit point.

Loss no2:
2nd bull candle has a long pull back wick. Price close at exactly where it opens no?what does that tells you? (try to imagine bear and bull as playing tug o war) i would have done a manual exit at that point.

loss no3:

look left about a week, 1.3590 seems like a consolidation area doesnt it. also look back about a day or so, price also were stuck at that point.
Also notice its a round number 1.36? change your TF to daily and weekly and draw a line on 1.36. Tell me what do you see.
lastly, see the close on that bull candle, see how it has long wick? what does that tell you? try to go to 1h TF and see what happens there.

loss no 4:

Remember TMS is trend trading, you are trading against the trend here. Nothing wrong with CT every now and then. However, notice the last 3 bull (blue) candle? the last 2 candle did not make a new high and they become smaller and smaller. What does that tells you about momentum? and i bet if you were to go to normal chart without APB candle, you will probably see an inside bar. Also notice how TDI behaves on the last 2 candle? it becomes flat. According to the rules, that calls for an exit no?

Loss no5:

On this one, you were doing a counter trend. Again nothing wrong with CT, they just carry an extra baggage called risk. now, you wrote on your chart that your SL is too small and it eventually did rebound a bit to higher level the week after. However, again notice how that bull candle have a long wick? what does a long wick tells you? Also TDI turn flat ya? and lastly, the stoch turn down on that bull candle too. If you exit at the close of that long wick bull candle, you would have gotten out at BE.

remember its all about preserving capital. Don't trade what you think may happen. Just follow the price

P.S your chart is on line chart instead of candle stick
Daniel
  • #19,812
  • May 25, 2013 11:49pm May 25, 2013 11:49pm
Quoting tenmilewalk
{quote} Hello Phx 62. Inspiring as usual. For the second trade, you entered on a double bottom. Does the double bottom have to be exact? I couldnt see any candle bottoms aligning perfectly. Also, you used the 50 zone for confirmation on your trades this time. Under what circumstances would you consider it not useful? Thanks
ten mile walk........double bottoms don't have to be to the pip but should be within a couple of pips either way........
.....the best trades happen when the TDI is moving out of overbought or oversold areas and price makes a pullback/pinbar candle pattern with the green crossing over red. I seldom use the 50 line for anything except to show price consolidating or ranging for a period of time. I do look at going long when the TDI is above the 50 and or short when the TDI is below the 50 except when moving out of overbought/oversold but that is not a hard and fast rule in my trading plan.
  • #19,813
  • May 25, 2013 11:54pm May 25, 2013 11:54pm
Quoting emmanuel7788
Exit question: Here is your Saturday night quiz before I go out to party this wild Sat night. Tell me which candle will you exit this trade example. See chart below. Just give me the candle number and your reason(s). Try it first and before I post the next lesson on Exit Management using PA. {image}
Close of candle 4 for me. simply because TDI has shown a slight tweak down. Stoch is at 90+ level which is really high and also flat, totally nothing to do with TMS exit strategy. However from my experience so far, stoch doesnt like to stay up at that level for too long.
Beside its 13 blue bull bar, I think Big E mention it somewhere that good trend stays anywhere from 3-8 bar?

Also personal reason, i am intraday trader, 13 candles = 13 hours. Time to call it a day, bag the pips and run away.
Daniel
  • #19,814
  • May 26, 2013 12:01am May 26, 2013 12:01am
Quoting thewriter30
Bernard, hi mate. just wondering if you attached your indicator to your posts, i couldn't see it! Great job! Emanuel, I know many questions take your time, so will only ask 1 at a time, you do what you call good (thanks in advance) ALSO OTHERS are welcome to help!!! i mean if I knew the answers I would, so why only Emmanuel answers questions guys? it's like we all rely on one guy Emmanuel, so I attached you previous diagram on GU explaining all the potential trade that I definitely missed. I see many of them do NOT respect the rule which I thought...
If you were to wait for TDI to hit 32 before going long when TDI goes up, or TDI 68 going down before you short, you will miss way too many trades. Although if you follow them chances are they are much safer and may brought in more pips but...... well you get what im trying to say.......
Daniel
  • #19,815
  • May 26, 2013 2:29am May 26, 2013 2:29am
Hi All,
I know this is the wrong place to ask but it is the most active thread with the most replies, answers,help and guidance.
i am following the TMS and as a newbie agree have a lot to learn,
i have added auto Fibs to my chart to make things a little easier for myself, i wait for the Tdi to give the signal but wait for it to happen as the price breaks out of the 100 or 0 levels from yesterday hi low (on h1 chart) or last week hi low (4h chart) i have found that i have much better chance of price continuing in that direction and exit as per the TMS rules. but at least it gives me aiming points for exits.

this is where is where I need the help of a coder and there seems to be some very good ones in this thread,
as I have a few charts open at the same time I need the attached fib indicator coding so that it sounds alert when price crosses 0 or 100 by 'x' pips so that I can home in on that chart and keep an eye on the Tdi and candle close.

I have searched FF and the net for a week looking for something to do this and there doesn't seem to be anything anywhere -
Can it be done ???

Best Regards
Nelly
Attached File(s)
File Type: ex4 #SpudFibo.ex4   6 KB | 419 downloads
File Type: ex4 #SpudFibo-weekly.ex4   6 KB | 411 downloads
File Type: mq4 #SpudFibo.mq4   5 KB | 414 downloads
File Type: mq4 #SpudFibo-weekly.mq4   8 KB | 419 downloads
  • #19,816
  • May 26, 2013 4:03am May 26, 2013 4:03am
Quoting Phx62
{quote}ten mile walk........double bottoms don't have to be to the pip but should be within a couple of pips either way.............the best trades happen when the TDI is moving out of overbought or oversold areas and price makes a pullback/pinbar candle pattern with the green crossing over red. I seldom use the 50 line for anything except to show price consolidating or ranging for a period of time. I do look at going long when the TDI is above the 50 and or short when the TDI is below the 50 except when moving out of overbought/oversold but that...
thank you phx62
  • #19,817
  • May 26, 2013 4:27am May 26, 2013 4:27am
Quoting emmanuel7788
{quote} The EP SL TP lines are drawn using MT4 script... Posted earlier post#19760http://www.forexfactory.com/showthre...84#post6705584 ...
Do I get it right that these files should be placed in the Scripts folder, not the Indicators folder for the files to function correctly?
Thank you.
  • #19,818
  • May 26, 2013 4:29am May 26, 2013 4:29am
Close of candle 5 as TDI hooking down, and candle smaller with big wick showing market is changing, also stochs are almost crossing showing change is underway.

Regards


Blueman
  • #19,819
  • May 26, 2013 4:42am May 26, 2013 4:42am
Hi Emmanuel,
Thanks for your hint using the CTRL + Y and CTRL + G! You gave me the idea to look for a complete list of short cuts. I found this: http://forums.babypips.com/newbie-is...tcut-keys.html

Concerning your exit question:
I would exit at the close of Nr 5. Reason: the green line is coming back and the candle has a wick.

“Invest in a good high res LED monitor”: yes, that is the next step.
“Do you live in Bavaria?”: no, I live in Stuttgart… but I am not a Swabian... I more feel like a cosmopolitan

Cheers Bernhard
  • #19,820
  • May 26, 2013 4:53am May 26, 2013 4:53am
Yes, script folder works for me...

Quoting MidnightRun
{quote}Do I get it right that these files should be placed in the Scripts folder, not the Indicators folder for the files to function correctly?Thank you.
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