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Trading Made Simple

  • #22,441
  • Jul 26, 2013 5:19am Jul 26, 2013 5:19am
Quoting oseto
{quote} Dalytec U are right but the concepts of TMS must be understood by beginners b4 adding anything to it, not to make the system a failure.

Hello Oseto, TMS will be easier to understand when you have a trading ethic through which you operate. And please I do not understand what you mean by beginner. Does it mean Forex beginner or TMS beginner?
  • #22,442
  • Jul 26, 2013 5:39am Jul 26, 2013 5:39am
This is the 4h outlook of EJ as at 10:46 GMT. What does anyone in the house has to say about it.
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  • #22,443
  • Jul 26, 2013 5:52am Jul 26, 2013 5:52am
Quoting dalytec
This is the 4h outlook of EJ as at 10:46 GMT. What does anyone in the house has to say about it. {image}

We are all traders and are looking for pips even though our method of approach towards the market may be different. Now this is how I do my things. The EJ having moved about 208 pips in the downtrend from 132.73 to 130.65 triggered by the evening star at the recent swing high. Some may be thinking the trend would soon reverse but that be far from it until it meets and probably exceed the historic price count of week 2. After that we may watch out for the consolidation. Mind you, not price level but price count.
  • #22,444
  • Jul 26, 2013 5:53am Jul 26, 2013 5:53am
Quoting dalytec
{quote} Hello Oseto, TMS will be easier to understand when you have a trading ethic through which you operate. And please I do not understand what you mean by beginner. Does it mean Forex beginner or TMS beginner?

i mean TMS Beginners adding other things to it on this forum we deviate them from the original concept they decide to add whatever they want when they are flowing with system.anyway that is just my opinion.
  • #22,445
  • Jul 26, 2013 5:55am Jul 26, 2013 5:55am
Quoting dalytec
About four hours ago, when price was at 98.96 Usd/Jpy I made a post, that there is going to be a possible move on UJ because of the shoulder and head pattern which I saw. Some quashed the idea without asking how I managed to deduce my fact. Thank God someone like mastersm can post his trading result on UJ " he refers to it as a good life"
Hi Daylec,

Thank you.

Never doubt yourself. You are in the money. Your eur/jpy, it would have been great if you cought it at 132.346. Although long term we are at the beginning of a downward trend.

All the best
Be the dragon master...
  • #22,446
  • Jul 26, 2013 6:12am Jul 26, 2013 6:12am
Quoting oseto
{quote} i mean TMS Beginners adding other things to it on this forum we deviate them from the original concept they decide to add whatever they want when they are flowing with system.anyway that is just my opinion.

Let me simplify what I mean by personal trading ethic so that you can understand. For example on EU, 1HR chart, the Tdi crosses the red downward indicating that you should sell. However, the market has shown a reversal pattern saying that you should buy. Not that alone, judging by the momentum of the market as well as the price action, you discover the tdi may not be accurate. At this junction the thing that could help you make a wise decision is your trading ethic. That is your trading skill. Your trading skill gives you edge over the market despite the fact that you look to the Tdi to confirm which decision to take at a particular period of time. It prevents you from unnecessary losses which stemmed from unwise decision taking in the market. It make you grow everyday to eventually attain your trading stature. It gives you confidence at anytime and gives you success while others are failing. You can corroborate this post by cross-referencing it with those of Emmanuel where he talked most about trading with precision.
  • #22,447
  • Jul 26, 2013 6:14am Jul 26, 2013 6:14am
Quoting mastersm
{quote} Hi Daylec, Thank you. Never doubt yourself. You are in the money. Your eur/jpy, it would have been great if you cought it at 132.346. Although long term we are at the beginning of a downward trend. All the best

Wish you all the best too bro.
  • #22,448
  • Jul 26, 2013 6:26am Jul 26, 2013 6:26am
Hey guys, a little question

One of the cardinal sayings in trading is "dont go into smaller timeframes, it ll get you killed". The sentiment is especially strong within the TMS strategy. As a trader once stated, it takes a special breed to trade within smaller timeframes. What are the primary reasons that trading smaller timeframes will get you in the red? Is it because of the disproportinate amount of movement a spread takes up relative to small time frame? Is it because the price action patterns get realized at a much quicker rate and that the human eye cannot catch on to these movements quickly enough? Or is the price action actually different on smaller timeframes? Where if you would look at any chart without time or price as reference youd be able to tell what tiemframe the chart is on?

any advice appreciated
  • #22,449
  • Jul 26, 2013 6:52am Jul 26, 2013 6:52am
Quoting tenmilewalk
Hey guys, a little question One of the cardinal sayings in trading is "dont go into smaller timeframes, it ll get you killed". The sentiment is especially strong within the TMS strategy. As a trader once stated, it takes a special breed to trade within smaller timeframes. What are the primary reasons that trading smaller timeframes will get you in the red? Is it because of the disproportinate amount of movement a spread takes up relative to small time frame? Is it because the price action patterns get realized at a much quicker rate and that the...

In respect to the use of TMS as a trading arsenal trend is what is required which is lacking in small time frames in the perfection. The use of small time frame make you some profits but would eventually wipe all yours account in the long because it given to false signals. And apart from the fact that it is given to false signal, you cannot have the opportunity of knowing exactly where the market is going to. This the higher time frames do for you. On high time frame, you get to know the market outlook, and from there can make a fruitful trading decision. Just like Emmanuel has said small time frame is meant for scalping only. Atrader tends to scalp when there seems to be no tangible movement in the market. I hope this helps a bit if not much.
  • #22,450
  • Jul 26, 2013 6:57am Jul 26, 2013 6:57am
Quoting tenmilewalk
Hey guys, a little question One of the cardinal sayings in trading is "dont go into smaller timeframes, it ll get you killed". The sentiment is especially strong within the TMS strategy. As a trader once stated, it takes a special breed to trade within smaller timeframes. What are the primary reasons that trading smaller timeframes will get you in the red? Is it because of the disproportinate amount of movement a spread takes up relative to small time frame? Is it because the price action patterns get realized at a much quicker rate and that the...

In respect to the use of TMS as a trading arsenal, trend is what is required, and which is lacking in small time frames in the perfection. The use of small time frame may make you some profits but would eventually wipe all your account in the long run because it is given to false signals and breakouts. And apart from the fact that it is given to false signal, you cannot have the opportunity of knowing exactly where the market is going to- this the higher time frames do for you. On high time frame, you get to know the market outlook, and from there can make a fruitful trading decision. Just like Emmanuel has said "small time frame is meant for scalping only." A trader tends to scalp only when there seems to be no tangible movement in the market. I hope this helps a bit if not much.
  • #22,451
  • Jul 26, 2013 7:13am Jul 26, 2013 7:13am
There is nothing sweet as increasing and moving forward in life. Sometimes people move but they cannot see because their eyes are veiled and clouded by the little failure they have made. We traders should try and seek solace in our little effort after which having evaluated our weekly performance in the market, we discover that we have fallen short of our expectation. If you have ever made any mistake whatsoever this week, the weekend provides you with the best opportunity to spot out the mistake and fortify yourself ahead of next week against such a mistake. Remember failure is not a failure in the real sense but a feedback to understand how ready you're towards a particular situation. Let us make all the valuable post in this thread our assignment as we read meditatively the art of "Trade Made Simple" into our very personality. Stay blessed and have a wonderful weekend.

Regards

Dalytec.
  • #22,452
  • Jul 26, 2013 7:28am Jul 26, 2013 7:28am
Got in on EU. Trades are still running, shall see how it goes.
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  • #22,453
  • Jul 26, 2013 7:44am Jul 26, 2013 7:44am
Quoting evilmechy
Got in on EU. Trades are still running, shall see how it goes. {image}

good trade for a quiet Friday ....
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #22,454
  • Edited 8:40am Jul 26, 2013 8:02am | Edited 8:40am
Quoting dalytec
{quote} In respect to the use of TMS as a trading arsenal trend is what is required which is lacking in small time frames in the perfection. The use of small time frame make you some profits but would eventually wipe all yours account in the long because it given to false signals. And apart from the fact that it is given to false signal, you cannot have the opportunity of knowing exactly where the market is going to. This the higher time frames do for you. On high time frame, you get to know the market outlook, and from there can make a fruitful...

Post#1 ... TMS works in all timeframes.

traders need to know and understand how to scalp, how to trade intraday and how to swing trade.

problem I see here is many new traders do not fully understand the way eelfranz trades 4H using the TDI, APB and 5EMA. Most do not have a good grasp of trading basics and want to learn a system fast to make money being the attraction. Some treat trading like a game and playing with demo money without understanding the impact of the mind has on them when they trade with real hardearned money. You can play forex trading game with $500 real account but it will be alot different when you trade with an account like $50K. Losing $500 is painful, losing $50K will be more than painful.

New traders wanting to trade for supplement income must ask themselves why they choose forex trading. There is a lure to making money fast.
It is not easy as it made to look. You need to learn a lot of stuff and commit time to deep practice.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #22,455
  • Jul 26, 2013 8:45am Jul 26, 2013 8:45am
Quoting Erol
Currently Back-testing EUR/USD with the old Xman 4H S3 method (been reading up on this a lot lately and the thread seems to be dead). Emmanuel / PHX - do you guys mind pointing out anything in particular to look out for when doing my analysis. I'm basing the entry & exits on within Xman's thread and taking detailed notes about my observations around entry & exit points to look for any reoccurring themes both on Wins & losses. Quick snapshots of Results so far from Jan & Feb 2013 (*based on a 1$ per pip) Total P/L* 901.60 Average candle run 10.44...
Erol,

I suggest you use those two Buy and Sell scripts on your charts to see how many R's those trade taken in Jan and Feb to see if R-Multiple trade management will yield better trade results.

You can also study the difference between using single entry / single exits and mutliple entries/multiple exits strategies.

regards,
EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #22,456
  • Jul 26, 2013 8:48am Jul 26, 2013 8:48am
Quoting emmanuel7788
{quote} good trade for a quiet Friday ....
Got stopped out at +7pips. Didn't expect it to reverse right there. Oh well.
  • #22,457
  • Edited 9:16am Jul 26, 2013 9:05am | Edited 9:16am
Took AJ and ended up 40+ pips. Exited at DS2 but it looks it goes down much lower... Among others AJ looked easier to me today, although I rarely trade this pair. Now EA looks interesting but it's time to call it a day. Have a nice weekend!
Simplicity is the ultimate sophistication - Leonardo da Vinci
  • #22,458
  • Jul 26, 2013 9:54am Jul 26, 2013 9:54am
Quoting Axiom
{quote} Can anyone offer some advice? I always experience uncertainty with taking a trade of this nature, ie close to an area of resistance. In this case: - price is at a previous Daily and Weekly high - price has touched this level three times previously since 10 July, but not managed to close above .9300 - TDI is above 50, pointing up, with room to move up - price below 200ema In essence, by entering long now, we are hoping for a breakout. Questions: 1. Would one enter long: - after price closes above .93? - after a break and pullback and when...
go to MN and see if you see 0.9250.
we are few days to end of month. ... that is MN historical resistance.

back to H1 intraday, we look at price reaction at low TF support and resistance.
so we can take any H1 PA setup.
but if higher TF show a potential for a upside breakout, we take some risk even when we see low TF resistance.
but there is no potential breakout on H1 nor D1.
so based on H1 intraday, there are Prev W high and Prev D above which can be target exits .
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #22,459
  • Jul 26, 2013 9:56am Jul 26, 2013 9:56am
Quoting heispark
Took AJ and ended up 40+ pips. Exited at DS2 but it looks it goes down much lower... Among others AJ looked easier to me today, although I rarely trade this pair. Now EA looks interesting but it's time to call it a day. Have a nice weekend!

i took the trade would post my chart later.
happy weekend
i am the lord that giveth thee power to create wealth.
  • #22,460
  • Jul 26, 2013 9:57am Jul 26, 2013 9:57am
Oh Wow!!! I just love trading... my third trade today. Made 30 more pips on usdjpy..

Will open the platform next week monday.

Cheers everyone. Enjoy your weekend.
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Be the dragon master...
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