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Trading Made Simple

  • #22,961
  • Edited 5:35am Aug 11, 2013 4:41am | Edited 5:35am
Quoting dadadada
{quote} Hi Emanuel Please consider giving weekly review of the pairs of your choice. Pray you find some time for this thread. Kindest regards. Partha Roy

Hi Roy,

still wating for London 1900 to start my weekly planning.

anyway, the pairs in play for 4H swing trading next week would be EurUsd, EurAud, EurNzd, EurCad and the Jpy pairs. AudUsd and nzdusd would be interesting after this weeks rally.
There are enough pairs for 4H swing trading, to give 3 to 5 trades , hence I shall skip the GBP pairs next week, recent spikes moves make trade management more challenging. Also skip the Chf pairs.

Just pay attention to the week open and price action, and the average weekly traded range. I target only 60% of the 52-weeks average traded range.

regards,.
EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #22,962
  • Aug 11, 2013 4:56am Aug 11, 2013 4:56am
Quoting Oaktree
Hi FxProPlayer, I started reading this thread a few weeks ago. This week I started to practice, I followed the advice to start on the 4 h charts. I made +97.9 pips this week on the 4 h charts, not bad for a novice. I like what I see Phx62 doing, but it is on the 1 h chart and I have to learn PA and study Phx62 approach. Now I am watching the crosses on EUR/USD and USD/CHF - they crossed the red line on the 4 h charts but they are consolidation. Better stay out I think, maybe NY open will shine some light. I wish you all the best!
Even I am reading up as much as I can. And when I am done reading Big E's posts I will start with Phx's posts. 98 pips in your first week is damn good !! Hope you keep your account's nose up and keep bagging those pips.

All the best !!
  • #22,963
  • Aug 11, 2013 5:24am Aug 11, 2013 5:24am
Quoting FxProPlayer
{quote} Even I am reading up as much as I can. And when I am done reading Big E's posts I will start with Phx's posts. 98 pips in your first week is damn good !! Hope you keep your account's nose up and keep bagging those pips. All the best !!
You should decide what are your trading hours and which timeframe you want to trade.
TMS is trend trading method.
There is a trend in every timeframe... be that M15, H1, H4, D1 and W1.
Different timeframe trend give you different range for trading. So don't expect to make 100pips in a M15 trend for USD major pairs.
Know the timeframe, the market session and the traded range.
It is about market entry and exits.
It is about having the necessary skills to trade the market.
It is not that simple as it looks in posted charts seen here.
New traders want to learn to trade TMS here must post their charts, show you trades and ask questions.
Do not trade live with your hard earned money until you have done minimum 100 demo trades and achieved 50% win rate.
When you have achieved 50% win rate consistently for the first 300 trades, then I will show you how you can grow your account with position building money management strategy.
Treat your demo trading account like a real account which you want to trade for a supplement income. Think of what 10% return every 20-trading days would be like with a 50% win rate and $50,000 acount size.

Trade Well
EMMANUEL
Attached Image
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #22,964
  • Aug 11, 2013 6:45am Aug 11, 2013 6:45am
Quoting cuchuflito
{quote} You are right got stopped out yet again on that long on EURUSD H....this morning. Granted the tdi was in the OB zone, but I have seen people take those in the past (successfully)....sure the reverse signal might be working...I lost my patience... wish you all good trading.. {image}
cuchuflito,

I read your profile and some of your posts in other threads and I understand that you have been in the market for quite long time.
Traders must have the type of temperament which will suit the trading method and when these two match, then you will see how a simple method like TMS will become a system of your own.
Attached Image (click to enlarge)
Click to Enlarge Name: EURAUD H4 example.png Size: 66 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #22,965
  • Aug 11, 2013 7:09am Aug 11, 2013 7:09am
Quoting emmanuel7788
{quote} You should decide what are your trading hours and which timeframe you want to trade. TMS is trend trading method. There is a trend in every timeframe... be that M15, H1, H4, D1 and W1. Different timeframe trend give you different range for trading. So don't expect to make 100pips in a M15 trend for USD major pairs. Know the timeframe, the market session and the traded range. It is about market entry and exits. It is about having the necessary skills to trade the market. It is not that simple as it looks in posted charts seen here. New traders...

Many thanks to you kind sir for your advise. Its good to see my thinking already matches what you are suggesting. 10% ROI is what my primary goal is and I have already used Excel to figure out what it can do over a couple of years (if compounded).

As of now, I want to pick the simplest and easiest (and hopefully profitable) method and master it so I can go live. Looking fwd to learn from the masters here.

Your advise is more than welcome. Please keep it coming.

-- FxPP

PS: I fully intend to post charts and ask questions. But dont wish to ask Q's that have been answered many many times before.
  • #22,966
  • Aug 11, 2013 7:54am Aug 11, 2013 7:54am
does this method described in the opening post still works? any guides available for this?
Come tomorrow, I'll wake up new
  • #22,967
  • Aug 11, 2013 8:07am Aug 11, 2013 8:07am
Quoting gsbharaj
does this method described in the opening post still works? any guides available for this?
I was gonna ask the same thing. If Big E said it worked then I doubt its gonna 'stop' working somehow. My Q would be ... Does anyone still trade it ?
  • #22,968
  • Aug 11, 2013 8:58am Aug 11, 2013 8:58am
Quoting gsbharaj
does this method described in the opening post still works? any guides available for this?
gsbharaj,

the answer to your question is in post#1.

regards,
EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #22,969
  • Aug 11, 2013 9:02am Aug 11, 2013 9:02am
Quoting fx light
{quote} welcome on board you might find this script useful. it is used to know where to place stop loss and take profit {file} {file}
Hi,Why I can't use the indicators:
Draw_Lines Buy EP SL TP v3.ex4
Draw_Lines Sell EP SL TP v3.ex4
  • #22,970
  • Aug 11, 2013 9:50am Aug 11, 2013 9:50am
Quoting emmanuel7788
{quote} gsbharaj, the answer to your question is in post#1. regards, EMMANUEL
thanks wmmanuel
i trade using the support and resistance levels combined with pivot points.....they give me some profit daily by 20 pips as i am afraid to risk more. so i want to keep my trading simple as possible....going to try on a demo account....lets see where this takes me.
Come tomorrow, I'll wake up new
  • #22,971
  • Aug 11, 2013 9:54am Aug 11, 2013 9:54am
Quoting emmanuel7788
{quote} cuchuflito, I read your profile and some of your posts in other threads and I understand that you have been in the market for quite long time. Traders must have the type of temperament which will suit the trading method and when these two match, then you will see how a simple method like TMS will become a system of your own. {image}
Emmanuel,

One thing that I see on the charts that folks tend to forget on the higher timeframes is when TDI is giving clear warning signs that PA momentum is slowing down. Once you see TDI Diverence or TDI Convergence versus PA, the balance of the money flow is changing. This can be a pause before resuming the original trend, but is often followed by a significant pull-back / reversal in PA.

You chart clearly shows this once TDI starts to bounce into the OS range and starts to decline in value, even though PA still increases,, so time for reduced stop levels and caution/patience before the next strong PA signal.

You can see the same pattern on GA as well on H4.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpaudh4 tdi divergence.png Size: 63 KB
"To live with Passion, it takes Courage and Grace to survive"
  • #22,972
  • Aug 11, 2013 10:01am Aug 11, 2013 10:01am
with all the reading i get that its good t enter the trade which has recently crossed over........or maybe i am reading it wrong.....getting drunk and reading sucks
Come tomorrow, I'll wake up new
  • #22,973
  • Aug 11, 2013 10:27am Aug 11, 2013 10:27am
Quoting zchgold
{quote} Hi,Why I can't use the indicators: Draw_Lines Buy EP SL TP v3.ex4 Draw_Lines Sell EP SL TP v3.ex4

1. download the script properly
2. copy and paste in the script folder of your broker platform in the programs files x86 location
3. run your platform
4. click view, to go navigator. double click either of the buy or sell scripts (depending on your analysis).
it would show on your charts. take note, it is an indicator but a script that tells you where to place your stops and take profit. dont copy it to your indicators folders.
i hope this helps.
happy sunday
best regards
fxlight
i am the lord that giveth thee power to create wealth.
  • #22,974
  • Aug 11, 2013 11:00am Aug 11, 2013 11:00am
Quoting gsbharaj
does this method described in the opening post still works? any guides available for this?
It certainly does. If you back test 4H chart on AUD USD for example, you would have made at least 200 pips last week following original TMS method.

What I pick up after following this thread however is to corporate more and more price action analysis into my trading. The more you know, the better you become at spotting "bad" trades and avoid them.
Everything you can imagine, is real - Pablo Picasso
  • #22,975
  • Aug 11, 2013 11:15am Aug 11, 2013 11:15am
Quoting emmanuel7788
{quote} cuchuflito, I read your profile and some of your posts in other threads and I understand that you have been in the market for quite long time. Traders must have the type of temperament which will suit the trading method and when these two match, then you will see how a simple method like TMS will become a system of your own. {image}
That was a classic bounce signal.
When I Buy Price Short, When I Sell Price Goes Long.
  • #22,976
  • Aug 11, 2013 11:24am Aug 11, 2013 11:24am
Hi guys reading this i noticed several things, one, there isnt a single file which tells the best template to use after so many years, i found several spare files which doesnt say much, also there is no template with all the files at all, and third, i dont see any alert at this template with sound and so on, and since there is much talk about price action and "many but's" i wonder if the success to trade is this template or individual skills????
  • #22,977
  • Aug 11, 2013 11:25am Aug 11, 2013 11:25am
Quoting gsbharaj
does this method described in the opening post still works? any guides available for this?
Seriously - have you read any of this thread?

Read PHX62 / eelfranz / emmanuel.

Run back tests.
"To live with Passion, it takes Courage and Grace to survive"
  • #22,978
  • Aug 11, 2013 12:57pm Aug 11, 2013 12:57pm
Quoting emmanuel7788
{quote} Hi Roy, still wating for London 1900 to start my weekly planning. anyway, the pairs in play for 4H swing trading next week would be EurUsd, EurAud, EurNzd, EurCad and the Jpy pairs. AudUsd and nzdusd would be interesting after this weeks rally. There are enough pairs for 4H swing trading, to give 3 to 5 trades , hence I shall skip the GBP pairs next week, recent spikes moves make trade management more challenging. Also skip the Chf pairs. Just pay attention to the week open and price action, and the average weekly traded range. I target...
Hi
Emanuel thanks a lot for your time. Really don't want to bother you or anyone else with my dumb questions. It is because I see in trading a chance to have an alternate way of life,not the riches but independence. Freedom is very important. Best regards,
Partha Roy
  • #22,979
  • Aug 11, 2013 4:09pm Aug 11, 2013 4:09pm
Quoting dadadada
{quote} Hi Emanuel thanks a lot for your time. Really don't want to bother you or anyone else with my dumb questions. It is because I see in trading a chance to have an alternate way of life,not the riches but independence. Freedom is very important. Best regards, Partha Roy
Hi Roy,

There are no dumb questions. People do not become dumb by asking questions.
Millions of people saw that apples fall from trees but only one man questioned why. That question led to new discoveries.
There are definitely more questions than answers in this thread. Many questions do not have answers in this thread.

To be a trader is to be a professional like doctors, lawyers, engineers, etc... it gives you the opportunity to work for a living.
It take thousands of hours of education to acquire the prerequisite knowledge for any profession.
To become a trader is to embark on a journey of learning and self discovery. The market is our daily teacher.
There is nothing mysterious about the market but everyday it leads the trader to discover new questions he had not asked before.

Now back to the fact of what the market show us everyday.
fact is the market show you and I the same data everyday .... its Open High Low and Close.
the next day, you know the previous day' Open High Low and Close,
yet another day passed, you know the previous days' Open High Low and Close,
the trader's job is to determine whether the market will move above its previous day's High or whether it will move below its previous day's Low.
some days, the market just refuses to move neither above or below the previous day's High or Low. These are days we call Inside Day Bars.
yet there will be days when the market makes new High which is higher than the previous day's high and in the same day makes a new Low which is lower than the previous days' Low. These are days we call Outside Day Bars.

there is a belief that we must buy low and sell high to make money.
what about buying high and sell higher to make profit? this is a question.
the answers are on our charts, but do we have all the questions ready?

Have Fun trading week ahead.

regards,
EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #22,980
  • Aug 11, 2013 4:54pm Aug 11, 2013 4:54pm
Quoting emmanuel7788
{quote} Hi Roy, There are no dumb questions. People do not become dumb by asking questions. Millions of people saw that apples fall from trees but only one man questioned why. That question led to new discoveries. There are definitely more questions than answers in this thread. Many questions do not have answers in this thread. To be a trader is to be a professional like doctors, lawyers, engineers, etc... it gives you the opportunity to work for a living. It take thousands of hours of education to acquire the prerequisite knowledge for any profession....
Its nice to see you comes back to TMS when time permit, it give us hope , thanks and when time permits pls come by and guide us through the way

Last week for the first time trading , I made 120 pips long on 4H chart, using TMS for entry on EUR/JPY
Trade was taken from H1 signal, and managed in 4H
I Have Learned to Take Some Losses to Make Profits
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