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Trading Made Simple

  • #22,481
  • Jul 28, 2013 10:07am Jul 28, 2013 10:07am
Quoting Phx62
{quote} Trade 1 was posted earlier. Trades 2 & 5 were scalp trades based on pullback candles, confirmed by TDI crosses....trade 2 was closed manually on a pullback and trade 5 reached the TP. Trades 3, 6 & 8 were London session trades taken on the first entry signal following the LO....based on pullback candles and TDI crosses or bounces (#8 was a continuation trade). All 3 were managed by the EA and closed at TP due to work commitments. I monitored each of these trades until they reached or neared 21 pips in profit and then went back to bed due...

Thank you for posting your trades I love to read them, I compare them to the trades I've taken during the week to see how close I'm getting to becoming a phx62 clone 2 of the trades I took in roughly the same place and for roughly the same amount of pips so I'm happy this week
  • #22,482
  • Jul 28, 2013 10:19am Jul 28, 2013 10:19am
Hello everyone !

My 2 cents over this weekend :

The people around here couldn't be more right when they say backtesting is very important for building confidence. It took about 20 hours, but i analysed E/U, G/U, A/U, U/J and E/J over the past 3 months. I've studied every TDI cross on H1 or potential breakout that occured from Frankfurt Open to NY close, and acted on it like any new trader to TMS would do : trade every cross, every breakout, everything.

Thus, i've come to 3 conclusions :
- i was able to set correct profit targets depending on each pair, adr and supp/rez ( e/j and g/u sometimes seem like they're not in the same game. totally different leagues )
- built confidence , taking into account this worst case scenario : trading 1 pair, with a fixed SL of 40 pips, never moving SL to BE and trading every TDI cross, one would make about 50-100 pips/week.

- the reality : i've set rules for entry, exit, moving sl to be, trailing stops, pairs, tf's, market hours, everything. I've written them down, put them around my room so i can see them all time. Then backtested these rules, that gave me this awesome result :

With discipline, a H1 TMS trader ( exactly like Phx62 ) , can average 1-2 small losses, 4-5 BE trades and 7-8 wins per week, on 1 pair !
Regarding the E/j, i've compared my own charts, rules and analysis to those in Phx62's studies, and now i am a little closer to understanding how awesome he is, why he is so awesome, why TMS is so awesome, and how this system can change lives.

So thanks a lot to everyone in this thread that keep us newbies on the right track.

Sorry for the lost post and i hope it helped some people
  • #22,483
  • Jul 28, 2013 1:49pm Jul 28, 2013 1:49pm
Quoting emmanuel7788
{quote} Great H1 trades shared by Phx62. Thank you. keep posting, I am keen to read and learn. For all you 'lazy' people you may prefer to see and read AIO, here is what I do with Phx62 posts and learn from each and every of his valuable H1 trades. There are very distinct entries whihc he has mastered and I hope you all will see them through careful study of his posted charts. He keeps repeating them ... kind of boring .. but that's what TMS is about. Learn, patiently stalk. ...wait, pick your target, take your aim and pull trigger, ... Trade...
Hi Emmanuel,

I want to thank you for all of you help, I'm not lazy but I really don't know from where to start to read
would you mind telling us what is AIO ? or where can I read about it ?
and from previous post what is BEEB entry ?
thanks
  • #22,484
  • Jul 28, 2013 3:14pm Jul 28, 2013 3:14pm
Quoting Vladbold
Hello everyone ! My 2 cents over this weekend : The people around here couldn't be more right when they say backtesting is very important for building confidence. It took about 20 hours, but i analysed E/U, G/U, A/U, U/J and E/J over the past 3 months. I've studied every TDI cross on H1 or potential breakout that occured from Frankfurt Open to NY close, and acted on it like any new trader to TMS would do : trade every cross, every breakout, everything. Thus, i've come to 3 conclusions : - i was able to set correct profit targets depending on each...
very interesting Vladbol!, would you mind sharing your rules for such a performnce?
Little changes in rules as per trailing stop, BE stop, TP; etc.. tend to have dramatic impact on your bottom line...entry is not everything...trade managment is the next step to a winning system
Thanks in advance!
  • #22,485
  • Jul 28, 2013 3:26pm Jul 28, 2013 3:26pm
Sure, i don't mind at all

Just one thing : take these rules with a pinch of salt. They work for me, but i don't have a lot of screen time and i can talk bullsh*t.

I trade 5 pairs. E/u, G/u, A/u, U/j and E/j

I move SL to BE any time a trade goes 20 pips in my favor, regardless of pair.

I have different TP's though. In current market conditions, i set 50 pip TP's for U/j and E/j , 40 pip TP for A/U and 30 pip TP for E/u and G/u. I have small tp's on the last 2 pairs because low recent ADR and whipsaws.

I use trailing stops exactly like Phx62 : if PA goes well , i move the TP to double the initial TP, or more than that, i trail the sl to the bottom of the previous candle + the spread.

Also, i enter every trade with a small stop, 30 pips. I'm not yet disciplined enough to handle a 50 pip SL and to manually exit when the price goes against me.

Hope i helped !
  • #22,486
  • Jul 28, 2013 5:10pm Jul 28, 2013 5:10pm
Quoting Vladbold
Sure, i don't mind at all Just one thing : take these rules with a pinch of salt. They work for me, but i don't have a lot of screen time and i can talk bullsh*t. I trade 5 pairs. E/u, G/u, A/u, U/j and E/j I move SL to BE any time a trade goes 20 pips in my favor, regardless of pair. I have different TP's though. In current market conditions, i set 50 pip TP's for U/j and E/j , 40 pip TP for A/U and 30 pip TP for E/u and G/u. I have small tp's on the last 2 pairs because low recent ADR and whipsaws. I use trailing stops exactly like Phx62 : if...

Thanks a lot, very valuable!
Good trading week!
  • #22,487
  • Jul 28, 2013 11:44pm Jul 28, 2013 11:44pm
Quoting geomoon
{quote} Hi Emmanuel, I want to thank you for all of you help, I'm not lazy but I really don't know from where to start to read would you mind telling us what is AIO ? or where can I read about it ? and from previous post what is BEEB entry ? thanks

AIO = All-In-One

BEEB - Bearish Engulfing Bar

BUEB = Bullish Engulfing Bar
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #22,488
  • Jul 29, 2013 12:15am Jul 29, 2013 12:15am
Good morning all. welcome to another week of trading. what do you think about this?
Attached Image(s) (click to enlarge)
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i am the lord that giveth thee power to create wealth.
  • #22,489
  • Jul 29, 2013 12:43am Jul 29, 2013 12:43am
Quoting fx light
Good morning all. welcome to another week of trading. what do you think about this? {image} {image}
I think you should write down what you see on your charts and the technical reasons why you took those two trades.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #22,490
  • Jul 29, 2013 12:56am Jul 29, 2013 12:56am
Quoting njc1622
Hi, based on phy62's latest post, i saw that he actually know when is a pullback and when is a trend change. so, my question here is how to we spot pullbacks and trend change? this is because i realize that i always enter a trade in a pullbacks and set my tp very high and at the end lead me to a losing position. should i go to higher timeframe to draw trendline so that i know what is the overall trend so that when the candles is going to a different direction i know that it is a pullback? i will be very glad if somebody answer me. thank you and...

what we want to see is the price reaction at support and resistance.
you first need to identify where are the support and resistance on your charts and look at the price action.
knowing how to read the price bars and the APB is a necessary skill you need to identify the pullback and reversals.

when you trade intraday using H1 chart timeframe, you need to see how the previous D price action. If the previous D close bearish as an example, you need to see where the support is which is near the Previous D low and close. If there is previous support near the low and close, wait to see if price retraces back up then look for a continuation trade setup.
You can also scalp the retracement up because we do not know for sure if there will be a continuation setup later. This was exactly the case with EJ on 23 Jul. Monday closed bearish, next day retraces when open... and there was no continuation back to follow Monday D.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #22,491
  • Jul 29, 2013 1:43am Jul 29, 2013 1:43am
Learn to read Price Action and use the Prev D OHLC and the price levels 00, 25,50....they are always on your charts.
you dont need indciators nor worry about if indicators repaints, etc.
Attached Image (click to enlarge)
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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #22,492
  • Jul 29, 2013 1:44am Jul 29, 2013 1:44am
Quoting emmanuel7788
{quote} I think you should write down what you see on your charts and the technical reasons why you took those two trades.
Alright Boss,
I was waiting for the open of today's daily candle. Looking at Today's daily Candle of the GBY/JPY pair, it opened bearish and i saw the TDI CROSS: (TMS system setup). so i waited for a similar(TDI CROSS) TMS setup on the 1hr TF. then i entered immediately. using the sell entry script to place stoploss plus 91.0 looks like resistance to me. i closed it manually at 40 pips since sholastic turn red and was sleeping on the 20 line.

then for the AUDJPY, same scenario immediately the daily APB candle open bearish and TDI cross on the daily()TMS system setup, i used the same logic above plus. i believe these two pair move the same way most times.

i dont if there is a better way i could have managed this trades.

thank you Mr Emmanuel for been a good teacher.
best regards
Attached Image(s) (click to enlarge)
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i am the lord that giveth thee power to create wealth.
  • #22,493
  • Jul 29, 2013 2:16am Jul 29, 2013 2:16am
what do u think? i
Attached Image (click to enlarge)
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i am the lord that giveth thee power to create wealth.
  • #22,494
  • Jul 29, 2013 2:22am Jul 29, 2013 2:22am
http://www.mql5.com/en/charts/574016...-international

Long e/j on fist white ha candle, TDI cross on m15.
Price was rejected by the 38,2% Fib of the last daily upmove.

TP below last swing high, 40 pips due to monday low adr.
  • #22,495
  • Jul 29, 2013 2:33am Jul 29, 2013 2:33am
hello.this is first time i read this thread.in this morning i take my first trade with this sistem.what do you say guys?it is too late to take short e/u and g/u?good signal for short shown this sistem.sorry for my english
Attached Image (click to enlarge)
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  • #22,496
  • Jul 29, 2013 4:09am Jul 29, 2013 4:09am
Quoting fx light
what do u think? i {image}
You missed the entry point by 2 candles. You should have entered on the close of the first red candle.
According to the rules of TMS, you should only enter on the first or second candle.

Good luck trading
  • #22,497
  • Jul 29, 2013 4:11am Jul 29, 2013 4:11am
Quoting emmanuel7788
Learn to read Price Action and use the Prev D OHLC and the price levels 00, 25,50....they are always on your charts. you dont need indciators nor worry about if indicators repaints, etc. {image}

Thanks you for your fast answer about the TOK_5H emmanuel. Do you have perhaps an indicator for the last D OHLC or do you draw the lines with the mouse in MT4 ?

Regards,
FX94
  • #22,498
  • Jul 29, 2013 4:21am Jul 29, 2013 4:21am
JPY pairs:

Last week was heavy selling, especially on Thursday and Friday.

Any buying today is counter to the strong down flow.
Take and run is best until we see a higher TF bullish setup.

Trade with care!
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #22,499
  • Jul 29, 2013 4:25am Jul 29, 2013 4:25am
Quoting Fx94
{quote} Thanks you for your fast answer about the TOK_5H emmanuel. Do you have perhaps an indicator for the last D OHLC or do you draw the lines with the mouse in MT4 ? Regards, FX94
use the Prev D FIb which will show you the previous days high - lows...
the open and close are obvious when you have the vertical lines to separate the days.

if you are looking for the D candle in background, one had been posted before.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #22,500
  • Jul 29, 2013 4:32am Jul 29, 2013 4:32am
Quoting emmanuel7788
JPY pairs: Last week was heavy selling, especially on Thursday and Friday. Any buying today is counter to the strong down flow. Take and run is best until we see a higher TF bullish setup. Trade with care!

Thanks you emmanuel for the note about the indicator.
I am seeing a indecision candle on EUR/ JPY H4 and GBP / JPY H4. They are almost turning blue. So if there appears a blue candle with crosses the 5 ema long and closes above the 5 ema we should go long, donīt we ? No news today about these pairs except GBP in about 30 min.
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