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Monitor for 'Trading Made Simple' system 565 replies

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

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Trading Made Simple

  • #21,761
  • Jul 12, 2013 4:13pm Jul 12, 2013 4:13pm
Quoting Phx62
PDF's: When you read those PDF's, please understand that my trading is constantly evolving and I make adjustments to my trading plan as I pick up new information and discover new ideas while I am back testing and forward testing...I have to strive to get better at this all the time.....the market is constantly changing and we all have to do the same.
It's right!
Thanks again for this big tips about your trading


  • #21,762
  • Jul 12, 2013 5:28pm Jul 12, 2013 5:28pm
Quoting Phx62
{quote} haff, 1. 1st Trade of the Week: Time of day is very important when making decisions like the one you asked about. When price broke the high of the previous day, I entered with some caution because we were close to the LO and anything can happen at LO. Once price pulled back a little and London was about to open, I took what pips I could get. If price had move long again following LO, I would have re-entered long. Instead, price went into consolidation as I explained in my last post, so I waited for a signal to enter. 2. Triple Top: Price...
Phx62,

Thanks, man. Really appreciate the reply!

V/r

haff
  • #21,763
  • Jul 12, 2013 5:55pm Jul 12, 2013 5:55pm
Quoting Mohendran
Good day thr traders, I am still kind of new in this Forex trading, need some guidance pls. Where and how can I get Traders Dynamic Index indicator ? I have tried searching in the indicators list in my platform but its not there. Can someone pls guide me how to set up the indicators in my platform ? P/s - I've tried the attatchements of the indicators that eelfranz have added on but its not working either. Thank you
Mohendran,

Are you using MT4?
All indicators posted here are for MT4 trading platform only.

regards,
EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #21,764
  • Jul 12, 2013 6:05pm Jul 12, 2013 6:05pm
Quoting mike1349
{quote} These 2 MAs are among the PAC. Yellow lines are PAC and white line (10 ema) is in between. Sorry if I am making you tired. {image}
hey Mike,
sorry I fell asleep after the one and half liters.

the point I was making since we started discussions this week on the use of the PAC is that the median line of the PAC which is 5 Smoothed MA using Median price (i.e. the HL/2) is the same as the 10EMA when viewed on the M15 TF.
You recall we were in the LE1 M15 thread, we trade the price action using the 10EMA of various TFs... taking trades when PA move away from the 10EMA.

To me it is the same when we use the PAC. We take the trade when PA move away from the PAC. The PAC is a good visual view of the market volatility and seeing the price move alomg outside the PAC is a nice sign of trending in that TF.

hope this explains.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #21,765
  • Jul 12, 2013 6:54pm Jul 12, 2013 6:54pm
Hi Emmanuel how do I enter your trading room...I have good entries but after being mp a bunch of pips I always give a lot back, even with a trailing stop..any advice/help
  • #21,766
  • Edited 7:51pm Jul 12, 2013 7:17pm | Edited 7:51pm
Quoting emmanuel7788
{quote} hi Axiom, here is the book cover of that book of same title: regards, EMMANUEL {image}
Books
Attached File(s)
File Type: pdf elder-alexander-come-into-my-trading-room-a-complete-guide-to-trading.pdf   4.9 MB | 19,248 downloads
File Type: pdf Wiley Trading, Study Guide For Come Into My Trading Room - A Complete Guide To Trading.pdf   1.3 MB | 6,009 downloads
  • #21,767
  • Jul 12, 2013 7:49pm Jul 12, 2013 7:49pm
Quoting Mohendran
Good day thr traders, I am still kind of new in this Forex trading, need some guidance pls. Where and how can I get Traders Dynamic Index indicator ? I have tried searching in the indicators list in my platform but its not there. Can someone pls guide me how to set up the indicators in my platform ? P/s - I've tried the attatchements of the indicators that eelfranz have added on but its not working either. Thank you
As mentioned, we are assuming that you are using Metatrader 4

Inserted Video
It takes a lot for me to IGNORE you, but you can try.
  • #21,768
  • Jul 12, 2013 8:18pm Jul 12, 2013 8:18pm
Quoting Axiom
{quote} As tools to get the right entry, would you use a fib 50% retracement and/or close below PAC on the M15 chart as illustrated in attached charts? Like you said, this could just be a small retracement of the H4/Daily. How does one know with a bit more certainty? {image} {image}
Hi Axiom,
There are a combination of things which we must learn to observe in lower Tf chart like M15 when we trade H1 and H4.
Most of my H1 trades are done using M15 chart for entries. Only recently I started to use M5 for EJ because of its volatility and I want to get into the market using the smaller waves movements. The focus is still in the higher TF H4 for the setups and to use that as the Primary Trend to trade in lower TF.

The depth of every H4 retracement is never certain. I just stick to look for the retracement and then wait for PA to show the entry. Most often, the region between 38% and 50% is a good entry level.
But there are also many ocassions when the retracement is shallow ... 20% and less. There are two ways to get into the market.

1) To enter at the open of the next H4 candle and use only a portion of the full risk. For example, if your full risk is 2%, then make a first entry using say 1%.
Then when price retraces, you add the second position at the retracement level and build up to full risk. This will give you an overall better average entry price.

2) To use lower TF for entry - wait for retracement and look for the PA for entry. unless you see a strong reversal in lower TF which happen below the Fib50% level, it is always better to wait to see if price retraces to the 61% and then turn around. This need patience and entry skills.

Always remember these:

1) In a trending condition after the APB changed colour, it is good for 3 to 8 candles run.

2) Keep track and watch the timing of the market. By this I mean the market sessions opening and closing session. London close is most often we see retracements most likely due to profit taking exits and after that the US market take control and news has big part to play in the second half US session.

I made some comments on the GU chart you posted. See if those comments make sense.

Take note that when I trade 4H, i do not close trades when TDI goes flat. But I would scale out and take profit and keep some postions open to run. This is where the PAC come into good use and following PA using CS patterns.

Have a Great Weekend!
............. re-charge and be ready for action next week.

regards,
EMMANUEL
Attached Image (click to enlarge)
Click to Enlarge Name: Axiom GU M15 chart 13-7-2013 7-48-04 AM.png Size: 513 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #21,769
  • Jul 12, 2013 8:31pm Jul 12, 2013 8:31pm
Quoting whaka
{quote} Books {image} {image}
hello whaka,

Thanks! for the 2 pdfs books.

TMS warriors and TMS wannabees
if you have not read the first book, please find the time and read it.

The study guide is great ... use that and work on yourself. There is a lot you need to and must do. I know because I have been throught that. You need to do the transformation to becoming a consistent TMS trader.

the way forward is for everyone to be active in this thread and post you charts with your views, trade ideas, trade plans, ask questions, ask many silly questions as you want because the silly questions help others, etc. it is all part of the practice.

All the best.

Have a great weekend!
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #21,770
  • Jul 12, 2013 8:37pm Jul 12, 2013 8:37pm
Quoting sfg7th
Hi Emmanuel how do I enter your trading room...I have good entries but after being mp a bunch of pips I always give a lot back, even with a trailing stop..any advice/help
hi sfg7th,

getting into my trading room has to wait.

you have good entries ... that's very good.

your issue with managing trade exits - what trailing stop method do you use now? the common trailing stop method in most trading platforms is not effective when you want to achieve "Let profits run" .

Do you know R-Multiple?

regards,
EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #21,771
  • Jul 12, 2013 8:50pm Jul 12, 2013 8:50pm
Quoting emmanuel7788
{quote} hey Mike, sorry I fell asleep after the one and half liters. the point I was making since we started discussions this week on the use of the PAC is that the median line of the PAC which is 5 Smoothed MA using Median price (i.e. the HL/2) is the same as the 10EMA when viewed on the M15 TF. You recall we were in the LE1 M15 thread, we trade the price action using the 10EMA of various TFs... taking trades when PA move away from the 10EMA. To me it is the same when we use the PAC. We take the trade when PA move away from the PAC. The PAC is...

No Problem Emmanuel......you are really patient and kind.

That was exactly my point.One more time look at your chart: you say:"to buy we need to see M5 PA break above it's PAC and move upward"

I absolutely understand that.

Then look at my chart which is after that.As you see that thing happened and Price broke the PAC upward.My question is then why you didn't buy? Price broke the PAC and move upward so as you said we should've bought. T
The reason I am asking that because if we would've long our SL would've hit .
So I want to learn how you filtered that.

Thanks
Mike
Failure, is a wonderful teacher!
  • #21,772
  • Jul 12, 2013 8:59pm Jul 12, 2013 8:59pm
Quoting Phx62
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. {image}
Quoting Phx62
{quote} You are correct. The LO candle was an indecision candle...no direction....the next inside candle and the next one after that, also indecision candles. The 4th candle moved down and broke the low of the first three candles. I entered on a classic TMS entry.....the open of the second candle....the TDI had just crossed over the red and the yellow when that candle opened....classic TMS. There was no entry signal from LO until the second red candle opened. On the 10th, there had already been a big move down during the Asian session off from a...
Quoting Phx62
{quote} haff, 1. 1st Trade of the Week: Time of day is very important when making decisions like the one you asked about. When price broke the high of the previous day, I entered with some caution because we were close to the LO and anything can happen at LO. Once price pulled back a little and London was about to open, I took what pips I could get. If price had move long again following LO, I would have re-entered long. Instead, price went into consolidation as I explained in my last post, so I waited for a signal to enter. 2. Triple Top: Price...
Phx62,

What a super week of H1 trades. CONGRATS!

TMS warriors,
there are many lesson on H1 trading is these 3 posts above. Pick on them and work these into you trading style.

Good Trading folks!
Attached Image (click to enlarge)
Click to Enlarge Name: Phx62 week 28.png Size: 68 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #21,773
  • Jul 12, 2013 9:05pm Jul 12, 2013 9:05pm
Quoting mike1349
{quote} No Problem Emmanuel......you are really patient and kind. That was exactly my point.One more time look at your chart: you say:"to buy we need to see M5 PA break above it's PAC and move upward" I absolutely understand that. Then look at my chart which is after that.As you see that thing happened and Price broke the PAC upward.My question is then why you didn't buy? Price broke the PAC and move upward so as you said we should've bought. T The reason I am asking that because if we would've long our SL would've hit . So I want to learn how...

1) when you look closely at those small M5 candles inside the M5 PAC, those candle are actually the lower wick of that H1 pullback. Those M5 candles do not have any clearn direction , no upwards strength nor momentum. What every happens after that H1 puillback close with long lower wick is simply 'fear and greed'.

2) take a close look at H1 TDI, that is down, we do not trade against the higher TF TDI.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #21,774
  • Edited Jul 13, 2013 10:01am Jul 12, 2013 9:15pm | Edited Jul 13, 2013 10:01am
Quoting emmanuel7788
{quote}
2) take a close look at H1 TDI, that is down, we do not trade against the higher TF TDI.
I like this one better.

I am going to bed.So tired...

Have good weekend Emmanuel and thank you !!
Failure, is a wonderful teacher!
  • #21,775
  • Jul 12, 2013 11:18pm Jul 12, 2013 11:18pm
Quoting emmanuel7788
{quote} {quote} {quote} Phx62, What a super week of H1 trades. CONGRATS! TMS warriors, there are many lesson on H1 trading is these 3 posts above. Pick on them and work these into you trading style. Good Trading folks! {image}
Thank you sir.....keep up the good work!!!!!!!
  • #21,776
  • Jul 13, 2013 11:14am Jul 13, 2013 11:14am
Quoting emmanuel7788
{quote} Hi Axiom, There are a combination of things which we must learn to observe in lower Tf chart like M15 when we trade H1 and H4. Most of my H1 trades are done using M15 chart for entries. Only recently I started to use M5 for EJ because of its volatility and I want to get into the market using the smaller waves movements. The focus is still in the higher TF H4 for the setups and to use that as the Primary Trend to trade in lower TF. The depth of every H4 retracement is never certain. I just stick to look for the retracement and then wait for...
Emmanuel, thank you for your useful comments. Places a lot into perspective for me.

You say that you when trading H4 and TDI goes flat, you will use PAC to scale out. Would this be using the lower TF's like M15 and M5?

Regards
Axiom
  • #21,777
  • Jul 14, 2013 6:49am Jul 14, 2013 6:49am
Quoting Axiom
{quote} Emmanuel, thank you for your useful comments. Places a lot into perspective for me. You say that you when trading H4 and TDI goes flat, you will use PAC to scale out. Would this be using the lower TF's like M15 and M5? Regards Axiom

Hi Axiom,

When I trade 4H swing, I will also manage my trades in H4 TF.
It does not make sense to manage in lower TF as the lower TF market noise will affect our judgement.
When we see price pullback, we will also expect the TDI to respond, hence we see TDI green goes flat and in some extreme price consolidation the TDi green will hook back. This therefore requires us to check the higher TF to make sure that our H4 trade is still valid and there is no invalidation of the initial a trade setup.
Trading higher TF also requires us to place larger stops away from the realtime market price. This also make higher TF trading less susceptible to market reaction to news and events, and also when market session changes.

Therefore for 4H swing trading, when we see TDi going flat or start to hook back, we look at the PA and we should scale out our trades instead of closing out trades completely. Getting back into the trend move is not easy, much more difficult than the initial entry.

Trade well!


EMMANUEL
Attached Image (click to enlarge)
Click to Enlarge Name: H4 PAC exit 14-7-2013 7-23-52 PM.png Size: 67 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #21,778
  • Jul 14, 2013 7:42am Jul 14, 2013 7:42am
Asian session breakout trading:

Monday is China GDP data release. Expect some big move during Asian market hours. Good opportunity fo make some pips.

I will be trading using M5/M15 entry with PAC.

Here is the Asian session high-low indy.
Attached Image (click to enlarge)
Click to Enlarge Name: Asian session breakout .png Size: 52 KB
Attached File(s)
File Type: ex4 Asian_Session.ex4   4 KB | 735 downloads
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #21,779
  • Jul 14, 2013 8:07am Jul 14, 2013 8:07am
Learn to trade TMS:

i got a few PMs and obviously some new members find it hard to read so many posts to learn to trade TMS. One member 'complained' about having to read 21,000 posts. I know it takes a lot of time to read thousands of post. You must have the hunger for knowledge to achieve that.

Truth is there is a short cut for those who have a few years tradimng experience. You can simply take a fast track and read just the posts by eelfranz .
The pdf is "Best of Big E" and the download link here .

For those who are new to trading, you must learn the basics of trading forex. babypips School of Pipsology is the place to learn the basic stuff.

There is no short cut to learn to trade here. You have to read, download the indicators, setup your charts and post your charts. Ask questions you may have and there will be others here who will find the time to help you. You want to learn to trade TMS, you must do the work and be an active member here. you want to trade and make a supplement income to your fulltime job, you need to do the work here and practice.

regards,
EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #21,780
  • Jul 14, 2013 9:08am Jul 14, 2013 9:08am
Quoting Phx62
{quote} Yes, no losers this week......knock on wood.....
Thank you a lot, Sir. Learning from your trades is always one of my biggest enjoyment. Although I still lose half of my trades, I have made a 50% capital increase (demo) for a month since I adopted your tading style. I will go live when I doulble my demo capital. TMS rocks!
Simplicity is the ultimate sophistication - Leonardo da Vinci
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