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Trading Made Simple

  • #21,041
  • Jun 24, 2013 1:21pm Jun 24, 2013 1:21pm
Quoting tenmilewalk
{quote} hello phx62, inspiring as usual. For the candle that set the London high and then reversed (the candle you took your second trade ) would it be plausible to enter long as well? There was a pullback candle before the London high candle and price broke past before going down for the night. Is it because tdi didn't cross that made the pullback invalid or any other factors? thanks
There was never a signal to enter long.....in order for me to take a long trade there, I would need to see a CLOSED blue candle and some continuation of that move along with some TDI confirmation before making an entry. There was already support for taking a short trade with 3 red candles before LO and then the red LO candle. The LO candle did become a pullback candle but there was no confirmation to go long.
  • #21,042
  • Jun 24, 2013 1:26pm Jun 24, 2013 1:26pm
Quoting Phx62
{quote} There was never a signal to enter long.....in order for me to take a long trade there, I would need to see a CLOSED blue candle and some continuation of that move along with some TDI confirmation before making an entry. There was already support for taking a short trade with 3 red candles before LO and then the red LO candle. The LO candle did become a pullback candle but there was no confirmation to go long.
I understand now. I got confused with reversal and continuation trades. Sometimes I see entries taken in the middle of the candle but those are trend continuation. The pullback reversal should haveCLOSED candles to coconfirm.

thanks!
  • #21,043
  • Jun 24, 2013 2:06pm Jun 24, 2013 2:06pm
Quoting Jonh
{quote} I know you already undestand its today h1 USDJPY just before the drop. Let's move on. What you can say about this? {image}
Actually i don't. Because i don't trade UJ and i just closed my EJ trade around that time to go to bed.

Chart:

like i said...you need the SR line if you have it you will see for the last 2 h4 candles its been rejected 1.306
and if you have look at the open and close price which you don't have, you would have seen that that last 4 candles are doji candles
Doji in addition to the bear trend we have means bear pressure is getting weaker and bull pressure getting stronger.
However consider the bigger Resistance line at 1.312. unless price can clear that region.......
timing....

Indicator:

TDI made a nice 12-2 o'clock position is nice, but is still under 32

Result:

I won't be taking this trade.
1. that 4h candle is not closed yet...thing could change easily
2. there is only a few hours till end of NY market. EU dont move much outside of London and NY
3. i rather wait till london reopens and get in at better price.

EDIT: i post my EU4h chart. see how much more info you can get by being able to see open and close price
Attached Image (click to enlarge)
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Daniel
  • #21,044
  • Jun 24, 2013 3:35pm Jun 24, 2013 3:35pm
Hello Traders, i hope your day was better than mine in terms of trading


I took the following 2 Trades today, and i am off the opinion that these entries are A+++ entries. I would appreciate your view on these trades and if you see something that would speak against these trades. What i mainly focused for both trades was:

- Enter on open of HA candle #2
- TDI Cross
- Trade in Trend direction
- Upthrust/downthrust candle on candle #1
- Trade supported by PASR
- Enter with 2 Positions, 1 with a short TP at last High/Low other position leave open as long as trending

The only thing that comes to my mind is that i entered the trades on 10.00 o’clock CET, that’s 9 oclock in London. Maybe a bad time to open a trade on Monday
morning ?!

Attached Image (click to enlarge)
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Attached Image (click to enlarge)
Click to Enlarge Name: 2013_06_24 EUR_AUD.png Size: 37 KB
  • #21,045
  • Jun 24, 2013 4:31pm Jun 24, 2013 4:31pm
Quoting Sniper887
Hello Traders, i hope your day was better than mine in terms of trading I took the following 2 Trades today, and i am off the opinion that these entries are A+++ entries. I would appreciate your view on these trades and if you see something that would speak against these trades. What i mainly focused for both trades was: - Enter on open of HA candle #2 - TDI Cross - Trade in Trend direction - Upthrust/downthrust candle on candle #1 - Trade supported by PASR - Enter with 2 Positions, 1 with a short TP at last High/Low other position leave open...
Hi Sniper887

I took both of those at about the same time, I reckon the setup's were both good and they were both valid trade entries on the original TMS system which I trade successfully on the H4.
Both of mine busted out on the stop losses - as did another I also thought was AAA, not a great day!!

It could be that we both missed something, there wasn't any relevant news or calendar events though so I don't know what it might have been.
No matter what system we trade sometimes the price goes the other way, no point in getting stressed about it, make sure you check to make sure there isn't something you can do better next time (often there isn't though) and move on.
There will always be a few random losses - I think it's one of the few cast iron-rules in this game.
If you're new to this system I can assure you it does work very well - it's certainly up with the best I've traded, especially on the H4.
As an exercise last month i opened a new practice account and stripped the thing right back to Big E's original TMS setup and traded just the Majors on the H4 and put 40% on the account over the month - then I wished I'd done it with real money.

0900 London is generally a good time to open a trade as any morning move is often just getting going and any early fakes are done by then, it's my preferred time to open a day trade. (I live in the uk so it's convenient too) Monday isn't the best trading day of the week but you gotta start somewhere!!

It will be interesting to see if anyone does spot something we both missed,,,,

Andy.
Don't ask me, I have no idea what's going on.
  • #21,046
  • Jun 24, 2013 4:55pm Jun 24, 2013 4:55pm
Quoting Gizzledonk
{quote} Hi Sniper887 I took both of those at about the same time, I reckon the setup's were both good and they were both valid trade entries on the original TMS system which I trade successfully on the H4. Both of mine busted out on the stop losses - as did another I also thought was AAA, not a great day!! It could be that we both missed something, there wasn't any relevant news or calendar events though so I don't know what it might have been. No matter what system we trade sometimes the price goes the other way, no point in getting stressed about...
Hi Andy

Thanks for your feedback!

Im quite new to the system. I traded TMS H4 for 3 months in demo mode and switched last week to Live trading as the Demo was going well and i trust in the system! Maybe there is soon another signal in the pairs, the AUD/CHF did not break resistance at around 0.8650 and also the trend line on the EUR/AUD is still not broken. It was just a spike which triggered my SL at the last Swing High/Low. Let's see how it looks tomarrow!

Lukas
  • #21,047
  • Jun 24, 2013 7:36pm Jun 24, 2013 7:36pm
This is the trade that I did last night, but it was a loss. Did I do something wrong?
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  • #21,048
  • Edited 8:38pm Jun 24, 2013 8:16pm | Edited 8:38pm
Quoting Greenb
you need the SR line if you have it you will see for the last 2 h4 candles its been rejected 1.306 you would have seen
First, I see it, I have it on my main chart. Don't have it on this one, because I just don't want to distract you.
Quote
and if you have look at the open and close price which you don't have
Second, I have it and I seen it too. But not on this chart. Why? Because I have high res, but small monitor. On chart like this it's two pixels wide, so you cannot easily see it. I have different template just for checking normal bars price action.

Third, I don't like your passive-aggressive tone. Please, don't use it. We a not enemies and it's just unfriendly to respond in such manner.
Thank you for response. Hope you understand my broken English.
  • #21,049
  • Jun 24, 2013 9:21pm Jun 24, 2013 9:21pm
Quoting wwj168
This is the trade that I did last night, but it was a loss. Did I do something wrong? {image} {image}
wwj168,

looking at your H1 entry, obviously you were chasing after that long H1 bar and with a very small SL .

look at the carefull and see that you SL was at the fibo retracement of that long H1 bar. That ideally should be a good entry level when we wait for a retracement of 30% and 50% to get a good entry price.

SL .. logically should best be placed at the last swing low. use position sizing and your trade risk is the same %.

Trading require techncail skills and the patience to excute.
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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #21,050
  • Jun 24, 2013 9:39pm Jun 24, 2013 9:39pm
Quoting Jonh
{quote} First, I see it, I have it on my main chart. Don't have it on this one, because I just don't want to distract you. {quote} Second, I have it and I seen it too. But not on this chart. Why? Because I have high res, but small monitor. On chart like this it's two pixels wide, so you cannot easily see it. I have different template just for checking normal bars price action. Third, I don't like your passive-aggressive tone. Please, don't use it. We a not enemies and it's just unfriendly to respond in such manner. Thank you for response. Hope you...

Hey guys,

I am not this thread owner nor the moderator here. But I just want to contribute to this thread in as many ways as I possibly can.

So please allow me to say just this. There are culturral differences and also limitations in the use of the English language as most of us are not native speaker of English language. I see there is a good spirit to post trades and questions , and especially in the way we help one another learn to trade and trade TMS.
All these are positive energy. Sometimes we may be zealous to post replies and help others , and in the way we respond and the choice or english words and phrasing may not sound cordial but knowing the few reagular members posting here, I know they are not meant to be personal nor impolite to others. There are also other limitations which we do not see in each others' computers and charst setup.
Let's give one another the benefit of doubt as much as possible. We focus more in the technical aspects of the chart discussions and help one another along. Share a joke along the way, that help keep the family atmosphere lot more fun while we trade. Use emotion icons.. like this here..

Thank you folks.

Regards,
EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #21,051
  • Jun 24, 2013 10:06pm Jun 24, 2013 10:06pm
Quoting Hins
Hi, I've been reading and learning a lot from the TMS thread for the past week. Just placed my 1st demo trade on GU 4H, following the TDI green line cross rule (and good angle). I am not certain about what exit strategy to apply. I put as a T/P target is 2 ATR(7) which was 40 pips at the time of opening the position, and a S/L is 1 ATR. Or is better to remove the T/P and just observe TDI and subsequent price bars? Would appreciate very much comments/suggestions on this. Here is the chart: {image}
Hi Hins,
What I prefer to do is to use R-Mutliple method in setting the TP levels. Since your initial SL is 1xATR(7) ~ 40pips, that is your R.
Final TP will be set to 5R and manage using the APB PA and TDI as market move using the R-mutliple levels. Scaling out trade when market consolidates is one consideration as we do not know if the trend will continue.

But Big E will exit when TDI goes flat and he looks for re-entry when the pair remains trending.

There are other methods on managing trades. Explore them.

regards,
EMMANUEL
Attached Image (click to enlarge)
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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #21,052
  • Jun 24, 2013 10:30pm Jun 24, 2013 10:30pm
Quoting tenmilewalk
{quote} Good to see you healed
Well, since early this year I rebuild my trading station with a elevated desk so i now stand while I trade. Think better stand up.

This one from ConSet..
Inserted Video


sorry off-topic, but in case anyone thinking of standing while trading, this is a good solution.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #21,053
  • Jun 24, 2013 10:44pm Jun 24, 2013 10:44pm
Quoting emmanuel7788
{quote} Hey guys, I am not this thread owner nor the moderator here. But I just want to contribute to this thread in as many ways as I possibly can. So please allow me to say just this. There are culturral differences and also limitations in the use of the English language as most of us are not native speaker of English language. ....
We all really appreciate your contribution to this thread! Thank you Emmanuel and keep flying!
Simplicity is the ultimate sophistication - Leonardo da Vinci
  • #21,054
  • Jun 24, 2013 11:29pm Jun 24, 2013 11:29pm
Hi all,

This is my 1st post in this forum as well as this thread

I have learned Technical analysis years about 20 yrs ago as a forex trader then. But I am really impressed with this TMS that can makes things really easy for everyone.

I have yet to back test it with Ninjatrader but seems like it's working really well for everyone .... as I read on this thread from the beginning.... thanks to Big E and a group of traders that made this happen.

Out of respect, we should always respect what he wants for this thread. Just talk or discuss about the indicators he used and the rules NOT to complicate it with other indicators or bring other stuff in.


I'll contribute when I have my back test results. I have been using NJ7 for ES mini, which results isn't good enough to go live This thread motivates me to go back to forex

Thank you everyone for making this thread so popular and successful.

Cheers
  • #21,055
  • Jun 25, 2013 12:40am Jun 25, 2013 12:40am
Quoting emmanuel7788
{quote} Hi Hins, What I prefer to do is to use R-Mutliple method in setting the TP levels. Since your initial SL is 1xATR(7) ~ 40pips, that is your R. Final TP will be set to 5R and manage using the APB PA and TDI as market move using the R-mutliple levels. Scaling out trade when market consolidates is one consideration as we do not know if the trend will continue. But Big E will exit when TDI goes flat and he looks for re-entry when the pair remains trending. There are other methods on managing trades. Explore them. regards, EMMANUEL {image}
Hi Emmanuel,

Thank you for your trade management advice! Just did an initial research on the R-Multiple method, watched the video you posted some time ago, and will have to find the book (no more time now, going to work). I've closed that GU long trade last night as TDI began to hook(Big E way), however I have another open position, short EJ, chart attached...applied to it the script to project the target levels.

Thanks and Regards,
Hins
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  • #21,056
  • Jun 25, 2013 1:02am Jun 25, 2013 1:02am
confidence issue. again.
Planned to enter but missed it by one candle.

Pullback along with daily low. Along with 32 oversold zone. Blue candle after confirmed reversal.

Any advice appreciated
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  • #21,057
  • Jun 25, 2013 1:09am Jun 25, 2013 1:09am
Granted, my exposure to the markets is limited. This is the prettiest and most symmetrical pattern ive ever seen.
Attached Image (click to enlarge)
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  • #21,058
  • Jun 25, 2013 3:35am Jun 25, 2013 3:35am
GU week 26 - 25 Jun

High probability that GU will 'pop' this week on 4H... anyone sees that?
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #21,059
  • Jun 25, 2013 3:38am Jun 25, 2013 3:38am
AU 25 Jun BUOB setup on H4.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #21,060
  • Jun 25, 2013 3:40am Jun 25, 2013 3:40am
Quoting rickylimsc
Hi all, This is my 1st post in this forum as well as this thread
Hi Rickylimsc, welcome to the thread, your trading path is very similar to my own and this thread and the great people in here certainly give the motivation to make it work. its a great mixture of people here, only wish the creator was still with us... but im sure his spirit is among us...

Look forward to hearing more on your backtest results
By failing to prepare, you are preparing to fail - Benjamin Franklin
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