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Trading Made Simple

  • #22,201
  • Jul 21, 2013 4:54pm Jul 21, 2013 4:54pm
Hey guys!

On the second post in this thread ellfranz posted a trainingchart.
His chart looked like this.
http://www.forexfactory.com/attachme...6&d=1303770507


however if i scroll back to that time my chart looks like this

Attached Image (click to enlarge)
Click to Enlarge Name: 5 method.jpg Size: 416 KB


(in my chart i marked the first and last entry that he had in his chart)

the TDI and even the candles are slightly different even though i also used the FXDD broker. How is it possible? Or are my settings wrong somehow? If so - what do i have to change?

thx in advance
  • #22,202
  • Jul 21, 2013 5:21pm Jul 21, 2013 5:21pm
A nice little 40 pip scalp to start the week.....overall trend was up.....week open (gap) was below Fridays close....looking for 15 or 20 pips....candle took off....closed manually for 40.....
Attached Image (click to enlarge)
Click to Enlarge Name: 2013.7.22 ej h1.png Size: 53 KB
  • #22,203
  • Jul 21, 2013 6:12pm Jul 21, 2013 6:12pm
Quoting Aboutera
Hello everyone, This is my first post here, I've been trading(learning) for the past 2 years This is really a very interesting thread, my only problem is..it is 1110 pages I read until page 20 and then jumped to here, so my question is, did anything change in the method? I downloaded the templates and I am following the 5 rules, did anything get changed or added? Thanks a lot Best,
Aboutera,

TMS is a trend trading method.
The basic Entry and Exit rules remain the same.
It is up to you to use your trading experience and charting skills to make this simple technical method work for you.
This is where the trader's discretion comes in.

regards,
EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #22,204
  • Jul 21, 2013 6:20pm Jul 21, 2013 6:20pm
Quoting Flaviu1981
{quote} Hi! This method is profitable! Do you know an EA who moves SL to BE after market move 30 pips in our favour?
Flaviu1981,

I use MPTM multi-purpose trade manager by Steve Hopwood. Posted here last week with EJ trade example.

there are several trade manager EAs with features to move stop loss.
it is s basic feature of EAs to move stops.

winning systems is about entries and exits.
enetry trade entry requires minum two exits:
first exist is your initial stop loss
second exit is your final target profit or take profit.

in trend trading, between your first and second exits, are many other entries and exits. how is this possible?

regards,
EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #22,205
  • Jul 21, 2013 6:26pm Jul 21, 2013 6:26pm
Quoting Prominent88
{quote} Hi Emmanuel, I am trading H1 most of the time, may I know which Pivots should I use? Weekly Pivot or Daily Pivot? Is it Pivot similar to Weekly/Daily Fibo? Regards, Prominent88

Prominent88,

first you need to know what are pivots and the different types of pivots and how they are calcutated.

here is where you learn about pivots ChartsSchool

pivots can be use a support and resistance. but they are no holy grail.

it is the CONFLUENCE of several support and resistance which will increase the probability of a A+++ trade setup.

what we want to see is how price reacts at support and resistance.

learn to trade Price Action and use it when trading TMS. this will be a part of your edge to have a winning system.

regards,
EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #22,206
  • Edited 7:56pm Jul 21, 2013 6:27pm | Edited 7:56pm
Hi Emmanuel,

looking over the charts for this week, did a brief MTFA on EUR/USD & USD/CAD & GBP/USD; do you think i'm missing anything (i.e. points to be focusing on when doing MTFA like this)

Thanks,


Erol

**(i Have added USD/CAD & GBPUSD after the post - no worries if you don't get round to looking at them Emmanuel - just trying to gauge if i'm barking up the wrong tree or missing anything fundamentally important while conducting the MTFA)**

Attached Image (click to enlarge)
Click to Enlarge Name: eurusd week 22.7.13.png Size: 280 KB


Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD_21.07.13.png Size: 321 KB


Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD_21.07.13.png Size: 284 KB
  • #22,207
  • Jul 21, 2013 6:30pm Jul 21, 2013 6:30pm
Quoting Armin2Forex
Thanks Emmanuel7788 For the analysis very interesting... ye thanks for the FXI pivot tip, weekly too grb same as the master I read you use IBFX broker have you ever tried there own daily and weekly pivot indicators?? Thanks
Armin2Forex,

Yes, I know the IBFX provided pivots they are standard pivots.

but I don't use their indicators.

regards,
EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #22,208
  • Jul 21, 2013 6:37pm Jul 21, 2013 6:37pm
Quoting Phx62
A nice little 40 pip scalp to start the week.....overall trend was up.....week open (gap) was below Fridays close....looking for 15 or 20 pips....candle took off....closed manually for 40.....{image}
... sharpshooter and accurate like a sniper. I Like.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #22,209
  • Jul 21, 2013 6:48pm Jul 21, 2013 6:48pm
Quoting tscheulaling
{quote} hello emmanuel, i couldn't open/download the tester.tpl file. tried to backtest. but it didn't work. by the way, i am new at this forum, but studying hard to learn TMS (every day more than 5-6 hours) . i have read many pages of this thread and pdf's of phx62 en emmanuel. i know i have to work hard the coming months to understand en master this method. but i have the impression that this 'simple' system might be the solution to my trading. go on with your teaching. thanks.
tscheulaling,

I am not sure of your problem with the backtesting.
The tester template you need to create using TMS template and saved that with 'tester' that will be seen in your mt folder as 'tester.tpl'

The EA back tester will automatically use the template 'tester' when it starts.

But if you cannot dwownload and copy the EA to your mt4 expert folder, then it may be a different problem.
Let me know if this is the case.

I like your devotion of 5 to 6 hours per days. That is really necessary when you want to learn to trade. There are many other resources available which are important to learn and to know how to apply them in trading with TMS and devevlop TMS into your own winning system.

What I share here are some of the things I learned and used that had worked for me. They may not necessary work for other people. It is very important that everyone has the fundamental skilss of trading, then work on system development using TMS as the core technical method.

regards,
EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #22,210
  • Jul 21, 2013 7:42pm Jul 21, 2013 7:42pm
Quoting Erol
Hi Emmanuel, looking over the charts for this week, did a brief MTFA on EUR/USD; do you think i'm missing anything (i.e. points to be focusing on when doing MTFA like this) Thanks, Erol {image}

Hi Erol,

Thanks for sharing your MTFA on EU.

EU currenr view is the flow still UP seen in W1, D1 and H4. Any first sign of bearish reversal will be seen in H4 with a potential resistance zone just above where Prev W Fib 127% is. The current PA is aroun this week' WPv and we mujst watch how PA will be like as the TDI VB shows narrowing after the last rally. This is good sign for a breakout into increase volatility again. We must be prepare for both directions and ride the next wave. We are trend traders, so we must stay in the trend wave once we are in the wave and ride on the wave.
We have a range of betwwen 235 and 270 pips to catch ... 60% of that range is my target. Play with ME/ME.

Euro will be the big player this week with key data releases. All the Euro pairs are worth to take a look at for 4H swing opportunities.
There are correlation strength in all Euro pairs.

Note, most big corporations 1stHalf results are known but no release yet. This will be one prime mover this week and next.

Trade Well.

regards,
EMMANUEL
Attached Image (click to enlarge)
Click to Enlarge Name: EU week 30 3in1 22-7-2013 8-22-42 AM.png Size: 113 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #22,211
  • Edited 10:30pm Jul 21, 2013 7:48pm | Edited 10:30pm
Quoting 1easypips1
Hey guys! On the second post in this thread ellfranz posted a trainingchart. His chart looked like this. http://www.forexfactory.com/attachme...6&d=1303770507 however if i scroll back to that time my chart looks like this {image} (in my chart i marked the first and last entry that he had in his chart) the TDI and even the candles are slightly different even though i also used the FXDD broker. How is it possible? Or are my settings wrong somehow? If so - what do i have to change? thx in advance
1easypips1,

same TDI , same APB, ... trust your default settings.

Big E chart posted then was realtime chart.

your chart post now is history data.

don't spend time looking at what happened.

trading is no dependent on chart history data. It is about now and future market price movments... how price move.

our job is to look for trade setups consistently.

move on forward from here with realtime chart data.

regards,
EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #22,212
  • Jul 21, 2013 7:59pm Jul 21, 2013 7:59pm
Hi,

Just wanted to see if my E/U analysis is correct and I apologize if what I'm typing is irrelevant to this method and will delete my post if that is the case.

Weekly: ranging (after a downtrend). Support at 1.2782ish and 1.3129ish / Resistance at 1.3393ish and 1.3648ish... The TDI lines are confluencing which is also indicative of a ranging market
Daily: Bearish move towards 1.2782 following rejection of 1.3392. TDI is rising from the lower extreme (the 32 line) following a drop from the 68 line. Currently it's above the 50 line. TDI's MBL is still pointing down. MA60/MA200 are flat, 60<200 still.
H4: most recent higher low @ 1.3067 + bull candle that opened above and clear of 1.3130. MA60 < MA200, but it is climbing... Confluence of the MAs must be watched carefully throughout the week? TDI's MBL is flat and close to 68 indicating an eventual exhaustion of any upmove pretty soon?

M15 entry setup with a rejection of 1.3129 + IB setup and TDI cross to the upside, price is above both MA's. DR1 is what seems to be the most obvious target for this setup.
Attached Image (click to enlarge)
Click to Enlarge Name: IBM15EU.png Size: 73 KB
  • #22,213
  • Jul 21, 2013 8:01pm Jul 21, 2013 8:01pm
Quoting emmanuel7788
{quote} Hi Erol, Thanks for sharing your MTFA on EU. EU currenr view is the flow still UP seen in W1, D1 and H4. Any first sign of bearish reversal will be seen in H4 with a potential resistance zone just above where Prev W Fib 127% is. The current PA is aroun this week' WPv and we mujst watch how PA will be like as the TDI VB shows narrowing after the last rally. This is good sign for a breakout into increase volatility again. We must be prepare for both directions and ride the next wave. We are trend traders, so we must stay in the trend wave...

Thanks Emmanuel. Much appreciated as always! your a star :-)

Do you mind letting me know what Fib indicator your using? Are you mainly using this for TP ranges & for PA turning points?

Will look at the EUR pairs now (really shouldn't as i have to be up for work in the next 4 hours :# but I just cant stop...I'm loving this strategy!)
  • #22,214
  • Jul 21, 2013 9:09pm Jul 21, 2013 9:09pm
Quoting Erol
{quote} Thanks Emmanuel. Much appreciated as always! your a star :-) Do you mind letting me know what Fib indicator your using? Are you mainly using this for TP ranges & for PA turning points? Will look at the EUR pairs now (really shouldn't as i have to be up for work in the next 4 hours :# but I just cant stop...I'm loving this strategy!)
Hi Erol,

For the Prev W Fib use the one already posted in this thread.

To know the weekly traded range, I simply use plut two ATR with different periods in the same chart sub-window. Read off the ATR values and use that for weekly trade planning. To check the W1 raneg for other pairs, simply drag and drop the symbol from the chart Market Watch. You don't need to open too many charts for this purpose. You need the ATR values only once per week for planning or anytime you want to see its values.

Note-
I simply use 52 weeks which is one year , 100 weeks is just another average to compare with.
Of course, some may say why not use 2x52 =104 weeks? LOL.

See pic below.
Attached Image (click to enlarge)
Click to Enlarge Name: EU ATR 52 vs 100.png Size: 39 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #22,215
  • Jul 21, 2013 9:12pm Jul 21, 2013 9:12pm
Euro pairs:

Have a look at all EUR pairs,
the Weekly show all trading above its 10EMA.

check where the PA is in relations to the 10EMA on D1.

check where the PA is in relation to the 10EMA on H4.

Observe closely, what do you learn from your observations?
Attached Image (click to enlarge)
Click to Enlarge Name: EURccy Weekly 30.png Size: 94 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #22,216
  • Jul 21, 2013 9:34pm Jul 21, 2013 9:34pm
Quoting WDays
Hi, Just wanted to see if my E/U analysis is correct and I apologize if what I'm typing is irrelevant to this method and will delete my post if that is the case. Weekly: ranging (after a downtrend). Support at 1.2782ish and 1.3129ish / Resistance at 1.3393ish and 1.3648ish... The TDI lines are confluencing which is also indicative of a ranging market Daily: Bearish move towards 1.2782 following rejection of 1.3392. TDI is rising from the lower extreme (the 32 line) following a drop from the 68 line. Currently it's above the 50 line. TDI's MBL is...
WDays,

Nice!
Good to see another trader trading with the TDI.

regards,
EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #22,217
  • Jul 21, 2013 10:40pm Jul 21, 2013 10:40pm
Quoting Phx62
A nice little 40 pip scalp to start the week.....overall trend was up.....week open (gap) was below Fridays close....looking for 15 or 20 pips....candle took off....closed manually for 40.....{image}
Hello phx62, why was the trade listed as jul 22? The 40 pip jump happened on friday on my mt4
  • #22,218
  • Jul 21, 2013 11:22pm Jul 21, 2013 11:22pm
Quoting tenmilewalk
{quote} Hello phx62, why was the trade listed as jul 22? The 40 pip jump happened on friday on my mt4
My trading week starts on Sunday afternoons here in the western United States but my broker platform shows the first day of the week, from 2pm Sunday to 2pm Monday as Monday, July 22nd.....so I listed it as a July 22nd trade, even though it occurred on July 21st in my time zone. At the bottom of the chart, you can see that the trade was entered 40 minutes into the new week......not on Friday.
  • #22,219
  • Jul 21, 2013 11:34pm Jul 21, 2013 11:34pm
Quoting Phx62
{quote} My trading week starts on Sunday afternoons here in the western United States but my broker platform shows the first day of the week, from 2pm Sunday to 2pm Monday as Monday, July 22nd.....so I listed it as a July 22nd trade, even though it occurred on July 21st in my time zone. At the bottom of the chart, you can see that the trade was entered 40 minutes into the new week......not on Friday.
thank you
  • #22,220
  • Jul 22, 2013 2:45am Jul 22, 2013 2:45am
EU 22 Jul H4:

we are in the 2 hours overlap between Tokyo close and London open....
action only start after Tokyo closes in about 1 hr 15 mins.

Now I am watching how the current H4 will close.
Nothing interesting as most H4 candle were small ....
Attached Image (click to enlarge)
Click to Enlarge Name: EU 22 Jul LO HA watch 22-7-2013 3-30-05 PM.png Size: 67 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
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