Trading Made Simple | Page 995 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Monitor for 'Trading Made Simple' system 565 replies

Trading Made Simple the right way, and other trading lessons 334 replies

Indicators for the 'Trading Made Simple' system 343 replies

MTF Indicators for the 'Trading Made Simple' system 241 replies

Trading Made Simple system follower - Thanks to eelfranz 9 replies

Attachments: Trading Made Simple
Exit Attachments

Trading Made Simple

  • #19,881
  • May 27, 2013 6:18pm May 27, 2013 6:18pm
Quoting Fame of me
{quote}I will try it, sorry for type mistakes: Price ActionTrendMomentumMultitimeframeSupport / ResistanceVolatilityMarket StrengthContinuationRangeTiming

Fame, You bet me to it
  • #19,882
  • Edited 7:06pm May 27, 2013 6:48pm | Edited 7:06pm
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...
Hallo Bernhard,

I just read your doc "my-TMS rules v03". It is very good to have such a document for starting out. Every TMS trade must do the same work and have such a personalised doku.
AS we progress, you can expand more:

Entry have some chart setups for example:

1) Reversal entries ... early entries APB/HA candle #1 and #2.
2) Reversal Continuation entries, i.e. setup after APB/HA candle#2.
3) Continuation entries ... TDI bounce trades in a strong trending market, candles#3 and above. Those what I 'catching falling knife trades'.

Stop Loss:
1) Use recent volatility
2) use recent swing high / low
Compare the two and use the more optimum one by looking at the chart candles ranges.

Exit
this should be trade exit management, using a proven strategy.
1) The TDi based exit is good, clean and proven, but ...
2) we can develop our own exit management using a combination of money management strategy and Price Action.

Just some thoughts on top of my head now, but going forward I can post more trade examples and using money management and exit management to help TMS traders develop this into their own personalised system. TMS remains the core technical method.

Kind regards,
EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #19,883
  • May 27, 2013 6:53pm May 27, 2013 6:53pm
Start the trading day with some wisdom:

Inserted Video
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #19,884
  • May 27, 2013 6:56pm May 27, 2013 6:56pm
guys when u doing manual backtesting how do u define the trend other than using 200ema , cuz when 2ooema is flat u cant knw which direction and you dont want to cheat by scaling charts out cuz u might see forward candles, hmmm wanna try using bollinger btw for backtest im using offline charts on MT4


anyway how do u do it guys?
  • #19,885
  • May 27, 2013 7:00pm May 27, 2013 7:00pm
Sorry about that Emmanuel

Thanks for the correction and advice also the website..
  • #19,886
  • May 27, 2013 7:25pm May 27, 2013 7:25pm
Quoting emmanuel7788
Difference between trading H1 and 4H using TMS: TMS 4H > TDI is King TMS H1 > PA is King Hint:When you use PA and see a H1 setup for entry, that H1 setup is actually happen during a H4 APB/HA candle#1.This is the best type of setup both in H1 and 4H. Why is this so?

Hi Emmanuel,

is it because it means if both HI and H4 are going in the same direction PA is stronger and should continue the same way ,
Regards,
Rosemary
  • #19,887
  • May 27, 2013 10:11pm May 27, 2013 10:11pm
Quoting emmanuel7788
Difference between trading H1 and 4H using TMS: TMS 4H > TDI is King TMS H1 > PA is King Hint:When you use PA and see a H1 setup for entry, that H1 setup is actually happen during a H4 APB/HA candle#1.This is the best type of setup both in H1 and 4H. Why is this so?
Is it because you got in early on the trade and therefore the chance to maximize profit. Also by the time new H4 candle shows up and validate the trade for 4h TF, you can use that validation as a que to add position. Also the option to convert the 1H TF trade into 4H TF trade.
Daniel
  • #19,888
  • May 27, 2013 10:37pm May 27, 2013 10:37pm
Quoting emmanuel7788
Difference between trading H1 and 4H using TMS: TMS 4H > TDI is King TMS H1 > PA is King Hint:When you use PA and see a H1 setup for entry, that H1 setup is actually happen during a H4 APB/HA candle#1.This is the best type of setup both in H1 and 4H. Why is this so?

Entering with PA on the 1 hr chart is the way to enter sooner for the 4 hr strategy .I am new to trading and still on demo I have discipline issues and have been trigger happy and making a minimum of 2 % a day yet it feels so much like gambling .ArtfulDodger posted a link to Rob Bookers book and it really drove home the importance of trading with a plan and the joy of analysing the trade having everything its right place.This is what obviously I need to do.

Emmanuel the ATR levels that you have been working with recently how do you go about getting them on your chart and are you familiar with Dean Malone's Dot system it has levels such as EP TP 1234 SL etc what are they based on ????? And thanks for the clip of Kung Fu used to be one of my favorite shows. Keep well.....

James
  • #19,889
  • May 28, 2013 12:04am May 28, 2013 12:04am
Quoting Gizzledonk
Today I thought trading was a bit slack so I reverted to my 1hour time frame TMS version for some more testing and I have to say I am NOT getting very good results from it. I have a good H1 method based on the TMS but not using HA - so not eligible for this thread.I'm just curious if anyone here does trade any lower time frames successfully with TMS - if so, do you have any minor tweaks or a different approach you've found helpful?I know it's mentioned numerous times in the thread that it can be applied to shorter time frames, my experience so far...
EJ H1 trade taken following a double bottom@ the H4 low followed by a break of Friday's London session high......an easy 50 pips and if I was monitoring, who know how many pips could be gathered. 50 pip TP taken at the 200 EMA. Trade was based on price action with TDI green and red both breaking above the 50 line.
Attached Image (click to enlarge)
Click to Enlarge Name: 2013.5.28 ej h1.png Size: 47 KB
  • #19,890
  • May 28, 2013 12:25am May 28, 2013 12:25am
Quoting Phx62
{quote} EJ H1 trade taken following a double bottom@ the H4 low followed by a break of Friday's London session high......an easy 50 pips and if I was monitoring, who know how many pips could be gathered. 50 pip TP taken at the 200 EMA. Trade was based on price action with TDI green and red both breaking above the 50 line. {image}
i thought your not trading Asian session? Good trade.
i'm waiting to see if there is a chance to short on EJ, there is the previous week 50% and right above it there is round number 132 which proves to be problem most time.

so far price doesn't want to touch that line yet
Daniel
  • #19,891
  • Edited 2:07am May 28, 2013 1:51am | Edited 2:07am
missed eur.jpy breakout today.

Waiting for potential set up. Double/triple top forming. Pullback candle possible tonight

68 overbought as well
  • #19,892
  • May 28, 2013 2:33am May 28, 2013 2:33am
London P/L:
-30
New York P/L:
0
Daily total:
-10


London P/L:
550
New York P/L:
-40


Aggregate Trades:
132
Aggregate P/L:
510


Tried to enter near the end of the pullback candle. Was too impatient. Should have waited for pullback candle to finish at the end of the hour and then enter afterwards
  • #19,893
  • May 28, 2013 2:34am May 28, 2013 2:34am
Quoting khidir
{quote} Entering with PA on the 1 hr chart is the way to enter sooner for the 4 hr strategy .I am new to trading and still on demo I have discipline issues and have been trigger happy and making a minimum of 2 % a day yet it feels so much like gambling .ArtfulDodger posted a link to Rob Bookers book and it really drove home the importance of trading with a plan and the joy of analysing the trade having everything its right place.This is what obviously I need to do. Emmanuel the ATR levels that you have been working with recently how do you go about...
That Rob Bookers book title is Adventures of a Currency Trader posted here before.
Here is the link where the book can be downloaded.
http://www.google.com/url?sa=t&rct=j...HAkQiJWf3ybF6g


I use MT4 scripts to draw those trade levels EP SL TPs ... on my charts.

I don't know Dean Malone DOTS system in details, but seeing his recent promotion video I get some idea what it is about. IMHO, nothing fantastic hence I won't spend my money to attend his course nor buy any indicator.

Regards,
EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #19,894
  • May 28, 2013 2:34am May 28, 2013 2:34am
any advice appreciated

*price was also near 200 ema. Should have waited for it to drop below
back to midterm studying
Attached Image (click to enlarge)
Click to Enlarge Name: may 28 eur.jpy.h1.png Size: 37 KB
  • #19,895
  • May 28, 2013 2:36am May 28, 2013 2:36am
Quoting tenmilewalk
missed eur.jpy breakout today. Waiting for potential set up. Double/triple top forming. Pullback candle possible tonight 68 overbought as well
Don't bet on Yen strengthening any time soon.
Just trade what we see on our charts and do your prep work and have those historical support and resistance on your charts and look for CONFLUENCE.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #19,896
  • May 28, 2013 2:39am May 28, 2013 2:39am
Quoting emmanuel7788
{quote} Don't bet on Yen strengthening any time soon.Just trade what we see on our charts and do your prep work and have those historical support and resistance on your charts and look for CONFLUENCE.
hello emmanuel. where on baby pips can i learn more about confluence?
  • #19,897
  • May 28, 2013 2:39am May 28, 2013 2:39am
Quoting tenmilewalk
any advice appreciated *price was also near 200 ema. Should have waited for it to drop belowback to midterm studying {image}

what is the signifance of 200EMA on H1 chart timeframe? how many H1 price bars /candles are there in one week, one month?
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #19,898
  • May 28, 2013 2:42am May 28, 2013 2:42am
Quoting emmanuel7788
{quote} what is the signifance of 200EMA on H1 chart timeframe? how many H1 price bars /candles are there in one week, one month?
I dont know. Phx 62 seemed to use it.

* I only tried to use it as a guage. For a resistance level or tp target
  • #19,899
  • May 28, 2013 2:45am May 28, 2013 2:45am
Good Morning to all, I took a long at AUDUSD. Bullish engulfing on H4. Strong support 0,9580 wich is also last week Low
Attached Image
  • #19,900
  • May 28, 2013 2:59am May 28, 2013 2:59am
Quoting tenmilewalk
{quote} hello emmanuel. where on baby pips can i learn more about confluence?

CONFLUENCE is a term we use to describe when several support and resistance price levels are close together. For example, histrocial S&R, Prev W Fib, Prev D Fib, OHLC, BRN and RN.

There are several posts in babypips forum where trader mentionedabout confluence.

Now you look at GU yesterady 27 May on the H1, is there CONFLUENCE of S&R on your H1 chart.
What are the S&R?
What was the PA at that level?
If you read my post on GU above, you will see why in H1 trading use more PASR than TDI cross for entry and exit.

PASR will get you into the market before TDI cross signal.

regards,
EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
36 traders viewing now