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Trading Made Simple

  • #21,721
  • Jul 12, 2013 6:47am Jul 12, 2013 6:47am
Quoting mike1349
{quote} Oh No...Last night I told my wife we are going far east to Emmanuel trading room. She was so happy and already packed up. Is it all about a book? I don't know what should I tell her tonight? I am screwed...God help me!! Emmanuel please let us know that you didn't mean the book Mike {image} {image}
you are so funny ...
keep your bags packed ...
the book is pre-requisite to ...

Inserted Video
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #21,722
  • Jul 12, 2013 6:50am Jul 12, 2013 6:50am
Quoting gigicualex
{quote} Entered short on GU and after that I started to read Emmanuel's post about this trade so I'm glad I'm on the same page like him. Entered based on fact that the 2nd red candle made a LL comparing to the setup candle, we have a bearish divergence, MBL under 50 Daily bearish trend, TDI cross with nice angle. The SMAs you see on the chart are the 200 and 50. The 50sma could provide some support but I took my chances. Is there something I missed? Thanks {image}
Before emmanuel give you the answer I will try and give you my opinion first. I don't think you have missed something here. In fact,you were able to identify the hidden divergence on your chart. We even have a bearish divergence at the 2 nearest top (emmanuel has pointed it out). But as he said:"what are the risk?".Because if we enter the market there we should put our SL at the last swing high(which is about 50 pips if we enter when the 2nd bar open).

And 1 more thing,you could have entered when the second bar open for better entry and smaller SL. Because when the FO candle closed,the TDI crossed as well so you could have entered there. It's my opinion though. Good luck.
  • #21,723
  • Jul 12, 2013 6:59am Jul 12, 2013 6:59am
Quoting rob Miller
Gu still bullish on 4 hr and daily charts and price is just above yesterdays high. could be more risky to enter just yet.
rob,

you are right. this is a retracement trade after that FOMC rally and we do not know how deep the retracement will be like.
under such situation I would go lower TF to get an entry.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #21,724
  • Jul 12, 2013 7:04am Jul 12, 2013 7:04am
1 trade was taken today after I missed the AU entry.(PA trading,the TDI hadn't crossed yet).

I noticed that EJ has been ranging in the channel since the beginning of Asian session so after the NYO candle closed and form a "shooting star" at the top of the channel,I was looking for the signal to trade back to the other side of the channel. And the next bar after NYO broke below the low of that NYO candle so I enter and put my SL on top of that ""shooting star" candle,TP at the other side of the channel. That trade took only more than 5 mins to reach my TP. Maybe I was lucky,who knows ? At this time PA has already broke below the channel and maybe it will drop lower. But I already got my profit so I will just leave it there .

P/S:sorry everyone but I just have a feeling I'm a spammer in this thread now.....
Attached Images
  • #21,725
  • Jul 12, 2013 7:07am Jul 12, 2013 7:07am
Quoting Axiom
{quote} Hi Emmanuel I'd like to show you something i'm struggling with that is typical of many failed trades i'm having at the moment. Essentially, i'm applying TMS to H1 timeframe. Please refer to the attached EJ H1 chart of yesterday (and today). In the first ellipse, candle #1 made a nice reversal, TDI crossed down and stoch down. I entered on open of candle #2 (horizontal line) as APB candle was red, TDI down and stoch down. Price retraced, i got nervous and closed the trade at my mental stop, then price dropped again. Candle #3 broke the horizontal...

Hi Axiom,

The entry and exit rules for H1 are different from the 4H enryy and exit rules.
4H trading - the TDI is king.
H1 trading - PA is king and the TDI cross is used for confirmation of the PA.

There are a few common chart conditions which can be used for looking for H1 day trades.

It is Friday so i don't have time now to write more on this now. Let's try look for trade setups next week for our practice.

regards,
EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #21,726
  • Jul 12, 2013 7:16am Jul 12, 2013 7:16am
Quoting frenetic
{quote} Before emmanuel give you the answer I will try and give you my opinion first. I don't think you have missed something here. In fact,you were able to identify the hidden divergence on your chart. We even have a bearish divergence at the 2 nearest top (emmanuel has pointed it out). But as he said:"what are the risk?".Because if we enter the market there we should put our SL at the last swing high(which is about 50 pips if we enter when the 2nd bar open). And 1 more thing,you could have entered when the second bar open for better entry and...
frenetic

exactly I was thinking the same when I made my post. This being a retracement of the H4 and D, this is risky trade .
entry should be during candle#2 as it retraces into the candle#1 range to get a better entry price. The way to do this it to get a lower TF entry either in H1 or M15/M5.

regards,
EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #21,727
  • Jul 12, 2013 7:17am Jul 12, 2013 7:17am
Quoting frenetic
1 trade was taken today after I missed the AU entry.(PA trading,the TDI hadn't crossed yet). I noticed that EJ has been ranging in the channel since the beginning of Asian session so after the NYO candle closed and form a "shooting star" at the top of the channel,I was looking for the signal to trade back to the other side of the channel. And the next bar after NYO broke below the low of that NYO candle so I enter and put my SL on top of that ""shooting star" candle,TP at the other side of the channel. That trade took only more than 5 mins...

I think you use the H4 PAC channel , right?

I was looking at this too.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #21,728
  • Jul 12, 2013 7:21am Jul 12, 2013 7:21am
Quoting dalytec
{quote} Thank you for the observation frenetic but I think you miscontrued my expression. Emmanuel is not under any obligation to attend to anybody's needs in this thread and this I am very much aware of. The word "request" can be synonimously considered as follow: ask, petition, adjure, demand,.. etc. All these words in their primary form look like commanding words but when combined with some other words, a different meaning can be deciphered. If you truly follow what I wrote, I was asking for Emmanuel's help, the reason why I put the word "kindly"....
dalytec,

no worries, I understand the situation .
there are several attachments posted before. the important one is the Best of Big E pdf.
read that and you will get the basics of this TMS method.

regards
EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #21,729
  • Jul 12, 2013 7:25am Jul 12, 2013 7:25am
Quoting emmanuel7788
{quote} Hi Axiom, The entry and exit rules for H1 are different from the 4H enryy and exit rules. 4H trading - the TDI is king. H1 trading - PA is king and the TDI cross is used for confirmation of the PA. There are a few common chart conditions which can be used for looking for H1 day trades. It is Friday so i don't have time now to write more on this now. Let's try look for trade setups next week for our practice. regards, EMMANUEL
Hi Emmanuel, I am just curious, haven't you discovered through back-testing the certain pips a trade set up can move using Tdi&pac as the basis for your entry price? The essence of this is to prevent unnecessary mental stopping out of the market.

Regards

Dalytec.
  • #21,730
  • Jul 12, 2013 7:31am Jul 12, 2013 7:31am
EJ +70. Double Top, Resistance, TDI cross. TP confluence 61.8% & 78.6% Fibs. Still using the TMS method, my favorite. My main earner.
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Cut your Losers short and let your Winners run.
  • #21,731
  • Jul 12, 2013 7:32am Jul 12, 2013 7:32am
Quoting dalytec
{quote} Hi Emmanuel, I am just curious, haven't you discovered through back-testing the certain pips a trade set up can move using Tdi&pac as the basis for your entry price? The essence of this is to prevent unnecessary mental stopping out of the market. Regards Dalytec.
sorry, I don't get what you mean by this.

H1 entry is based on using PA and not using TDI cross.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #21,732
  • Jul 12, 2013 7:35am Jul 12, 2013 7:35am
Quoting frenetic
{quote} No problems,maybe I have misunderstood you. I'm sorry about that . And the PAC is the "Price Action Channel" which is not in TMS but it will help you identify market condition like:ranging,trending,... and it will give you a much safer entry than the original TMS entry. It actually come from E.A.S.Y method of Dean Malone. You can see how to setup the PAC in this post by emmanuel http://www.forexfactory.com/showthre...86#post6790986. And emmanuel has a lot of chart which he used the PAC for entry and analysis the...
Hi Frenetic, thanks for your dispensability!
  • #21,733
  • Jul 12, 2013 7:36am Jul 12, 2013 7:36am
Quoting dee50
EJ +70. Double Top, Resistance, TDI cross. TP confluence 61.8% & 78.6% Fibs. Still using the TMS method, my favorite. My main earner. {image}
Testimony of a veteran trader.
folks , better listen here.


yes. TMS is my core method for intraday and swing trading.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #21,734
  • Jul 12, 2013 7:53am Jul 12, 2013 7:53am
Quoting emmanuel7788
{quote} sorry, I don't get what you mean by this. H1 entry is based on using PA and not using TDI cross.
What I was getting at is that using the tdi&pac in their respective workable time frame, one should be able to predict the certain number of pips each execution will make so far the trade set up used for the entry price is test proven. And I think each set up could be proven by back-testing the relationship between price action and Tdi, price action and pac in their respective time frame. By doing this, it will help eliminate the idea of monitoring trade or exiting a very beautiful pips- earning execution prmaturely.
  • #21,735
  • Jul 12, 2013 8:15am Jul 12, 2013 8:15am
Quoting emmanuel7788
{quote} dalytec, no worries, I understand the situation . there are several attachments posted before. the important one is the Best of Big E pdf. read that and you will get the basics of this TMS method. regards EMMANUEL
Bro. I appreciate your maturity and I am grateful for understanding me.
  • #21,736
  • Jul 12, 2013 8:19am Jul 12, 2013 8:19am
Quoting emmanuel7788
Here is an example how I view H1 price pullback and checking M5 to see it PA and determine if I can use that H1 pullback and look for Buy entry. {image}

Sorry ,I am catching up with the old posts.
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Failure, is a wonderful teacher!
  • #21,737
  • Jul 12, 2013 8:26am Jul 12, 2013 8:26am
Quoting mike1349
{quote} Sorry ,I am catching up with the old posts. {image}

when you use the Triple Screen to show M5, H1 and H4, you will see the reason why.

do you know that 10EMA is the same as 5SMMA typical price?
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #21,738
  • Jul 12, 2013 8:36am Jul 12, 2013 8:36am
Here are my EJ H1 trades for this week.....most of the trades were based on pullback formations....used a triple top for one and couple of small continuation trades. Overall, a really good week.
Attached Image (click to enlarge)
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  • #21,739
  • Jul 12, 2013 8:43am Jul 12, 2013 8:43am
Quoting emmanuel7788
{quote} when you use the Triple Screen to show M5, H1 and H4, you will see the reason why. do you know that 10EMA is the same as 5SMMA typical price?

Sorry ,Which 10 EMA? In what TF do you mean?I only Have 5 MAs in my Different TFs.
Failure, is a wonderful teacher!
  • #21,740
  • Jul 12, 2013 8:44am Jul 12, 2013 8:44am
Quoting emmanuel7788
{quote} Testimony of a veteran trader. folks , better listen here. yes. TMS is my core method for intraday and swing trading.
I don't know who you are. But I will find you and I will learn from you . Kidding though. We all know how the basic TMS can give us the edge again the market. Even if you follow a set of really simple rule of trading like big E: just look for TDI cross,enter when the candle change color and it's candle #1 or #2 or wait for the bounce to enter the market is enough for you to be profitable like big E (don't forget about S&R though). And you are one of those veteran trader who use TMS successfully too emmanuel.

Edit:I forgot about your post about my trade. Actually it's not PAC H4 chart,it's just the channel between my 2 dotted blue line on my chart. PA didn't broke through those level so I just took a trade. Maybe you will be kindly to share your view on this.
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