Trading Made Simple for Day Charts

nice trading britpip7.......keep up the good work......

Thank you kind sir - same to you.

I/m spending a lot more time on analysis on the day charts to pick out entries on H4 - still not able to trade LO, but this is approach is seeing more entry opportunities. Time will tell.

Thanks for your recent posts. A huge help!

AG

P.S. I had tried to trade the LO once. That lasted about 2 weeks. Never could get the sleep/wake thing sorted out - neither could Mrs AG nor the dogs. It was a disaster. I do not know how Phx62 does it. He must be an iron man. For sure I envy his genius with the candles.

My day chart seems to suggest so. Anyone can give me their view?

Looks interesting

PA momentum still heading lower on H4, so looking good.

So far so good, moved my SL to BE+35... Not sure if I should hold the trades. It seems like 3235 on day chart is holding it from going downward.

Wow i guess i have been gone for a minute lol Whats all this new stuff on the charts? lol Is this still TMS? I barely recognize it anymore

lol, yeh. take it one step at a time. I've only added the 2_7 EMA and MACD adjustable at this stage as I rarely look below the daily chRT

Don't panic -

TDI is still an active part - so the additional were initial tests that I ran and liked - not for everyone though!

HI Britpip

Just want to check something with you regarding the MACD adjustable. Are you using this to look for crosses of zero or crosses of the ma's (slope change)?

Thanks
B

Only looking at this as a background indicator for watching the general momentum on Day and H4 - if you wait for a cross of the zero line, the PA has already moved a long way.

Quieter week this week on the trading front due to a heavier work schedule, so little time to focus - ended up 60 pips down for the week due to closing two trades too early - each would have gone on to hit their respective TPs.

A comment from another thread by claudia1 would be worth understanding.

She wrote in response to the question - What's the win rate thus far?

"Win rate is irrelevant its how you manage the trades is what its all about. Can lose 70% of trades and still be in profit. to answer your question i do win 70% of trades manually at around one to to one risk reward."

This is a typical FF question from folks trawling through threads looking for the silver bullet / holy grail.

To expand a tad more on this. If you trade for an institution, no one cares about your win rate. If your win rate is 70% but you end up with some real stinkers that kill your account, what good was the win rate? Claudia1's point is well made and you should concentrate on minimizing your risk in order to maximize your profits. Understand what your A+ entry conditions are and follow your plan.

A better measurement is $ won versus $ lost, or % gain in the account, etc.

Phx62 has made similar comments when asked these types of questions and points out that no two individuals trade the same, so knowing one person's results, although gratifying, is actually of little use. All it will tell you is whether a trader is consistent in their approach and disciplined in their following their trading plans and money management plans.

Back from vacation, so no trading this week due to zero access to the world wide interweb thingy.

Looks like everyone left - hope you got some good pips this week - lots of movement going on.

For those of you trading day charts with limited available screen time, this is still an extremely valid approach and still works and will bring in 400 plus pips per month per pair (in some cases this can be a weekly expectation), depending on the pairs that you trade. Just be patient with the set ups and remeber, that a 3 candle pattern takes 3 days to complete, so no shortcuts!

I am moving on with another project, so not sure whether I will be posting here for some time - hopefully you folks can keep the spirit of TMS / TDI alive and well on the higher timeframes. Running this thread has given me a lot of pleasure and was the best way for me to learn and fine tune my trading skills.

Whilst I have been sitting in a cabin relaxing and getting away from it all, I have been developing a new H4 trading plan based on candle patterns following some observations and thoughts that I had a few weeks back while trading some H4 charts and will be launching a new thread which will be for tracking the performance of the trading plan for the next few weeks and then I will post more details as to how to participate. The backtesting results support what I have been tracking live for the past 3 weeks, so depending on your belief in backtesting ....! It provides some validation, but nothing beats live trading with real $$$ accounts.

Once the live data is running and has some trading history behind it I will start to post weekly summaries, and you should be able to follow the trade explorer once I finish the set ups.

This will eventually be in the commercial content, as it will become a signal service, so I suspect that Twee will move this thread also and I will be only able be to post in the commercial content section once everything launches (or sooner no doubt).

With regards to the history of TMS and everything that the masters have done to educate me and to fine tune the methodology, thank you.

For your ongoing education and trading with TMS and TDI, these are the folks to follow / read:

Eelfranz - the originator of the TMS series - Rest In Peace Eric.

Phx62 - the master of TMS on the H1 charts

Emmanual7788 - currently on the original TMS thread

dgcinc - very knowledgeable trader and can be found running the http://www.protradenetwork.com/

snarlyjack - used to be very active during BigE's time and has a lot of experience / TMS knowledge

vantage - used to be very active during BigE's time and has a lot of experience / TMS knowledge

X-Man - originator of the X-Man's Super Simple System - worth reading to understand channels and TDI

britpip7 thank you very much for creating this thread. this approach is one of the few that i can realistically trade due to work commitments, and i have not yet perfected it but slowly getting there. trading it using the original template with the 3tf tms matrix to see HTF at-a-glance, which greatly assists.

this has a very rewarding screen-time to pips ratio. thanks again for this thread, hope you will pop back in and best of luck with your future endeavour.

blam

Thanks Blam - I feel that there are enough posts on the method and enough trade charts and training charts to get a good feel for the approach - I will check in once the new project is running

All the best with your new project. Hope to still see you on this thread though

To everybody who has been watching this thread, let's keep it going by posting our trades and observations. For me this will only be on the daily and weekly time frames as I don't have time for anything. With what we have all learned we can still keep this going and make a profit together.

Just checking in - Here's one setting up nicely

AUD / CAD

Positives:
PA still trending lower
Strong APB candle after colour change on a pin bar
Candle crossing over 7EMA and 21 EMA
Fresh TDI Cross
MACD losing strength
RSI10 <50

200pips to next support line

As I had mentioned earlier on this thread that I was developing an H4 strategy based on the Day PA & TDI, I thought I would see how accurate it will be going forward, so I will be posting trade forecasts next week based on the following news alerts on selective currencies, so fingers crossed file:///C:UsersDavidAppDataLocalTempmsohtmlclip11clip_image001.gif Sometimes the news events from one currency coincide with others - especially CAD and USD.

I am using GBP as my baseline currency for all trades.

The order instructions will be one of the following - sell by market (SBM), buy by market (BBM), pending sell stop (PSS), pending buy stop (PBS).

I will post these between 9pm and 9:30pm Pacific / California time which is the time I normally set my trades up on the daily charts.

I will also give updates each day at the same time as to whether or not to close the trade or add-on. also if I see something during the day, I will also post an update - this is usually to close a trade. Some of these news events will be a one day trade but in cases where the news event is significant, it will start/continue a trend run for a few days, so good opportunities for some pip farming (this will also be the case where news events feed into one another such as CAD Employment and Ivey PMI).

Not sure how the timing will work on the AUD news – this is all part of the live test.

At the end of the week I will post the results - nothing like live testing in one of the major news weeks on a forum to test the approach

DO NOT TRADE THESE IN A LIVE ACCOUNT - DEMO TRADES ONLY!