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Trading Made Simple

  • #24,621
  • Sep 4, 2013 5:06pm Sep 4, 2013 5:06pm
Hi Guys. Im new here. This metod looks good to me. Hope after time i will maybe help to others. I will post my ideas if dont mind
  • #24,622
  • Sep 4, 2013 5:07pm Sep 4, 2013 5:07pm
Quoting dadadada
{quote} Hi Emmanuel is it possible to forecast the direction of breakout? Regards Partha Roy
dadadada,

We do not forecast breakouts. We see consolidation as potential for market to breakout of consolidation.

Going down to one timeframe lower will get you into the market before the breakout. Price Action with the use of Support and Resistance plus the use of TMS will get you into breakout trades with high win rates.

Now wee see the H4 BO candle and the historical support and resistance 131.67, we shall see how market will react around this level. The next target is 133.27

Note, the height of the grey box is R on H4. But in H1 the R is very much smaller.


Trade Well.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #24,623
  • Sep 4, 2013 5:39pm Sep 4, 2013 5:39pm
EJ week 36:

Today, 5 Sep BoJ will be making another major policy statement.
EJ already made a early move together with GJ but UJ remains in its consolidation.
The composite strength of all JPY pairs remain looking to be bullish since this week opening.

Attached Image (click to enlarge)
Click to Enlarge Name: EJ week 36 H4 breakout box 5-9-2013 6-25-41 AM.png Size: 36 KB


My view is EJ will make higher given more time. Several previous highs to overcome on its way up. PA will show the way.
Today will be the day for UJ to be perform.

Good Trading.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #24,624
  • Sep 4, 2013 6:00pm Sep 4, 2013 6:00pm
Quoting emmanuel7788
AU 4 Sep: NY closed after a quiet session after London closed buying stopped. Now Sydney opens and we see two consecutive D1 bullish candles. H4 closed above 0.9045, and the next historical swing level is 0.9175 ... that is much farther up, hence unlikely Au will make it there. Next reaction levels is BRN 0.9100 and favourite 0.9145 With GDP data release today, it will be another volatile day. Good Trading.

Hi Folks,

This one I got it wrong. AU made it to 0.9715... that 100% of its weekly average range. Time to get out!

Attached Image (click to enlarge)
Click to Enlarge Name: AU Week 36 H4 range 5-9-2013 7-02-32 AM.png Size: 28 KB


Top performer this week, great start in Sep.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #24,625
  • Sep 4, 2013 6:14pm Sep 4, 2013 6:14pm
Quoting Dabbeljoe
{quote} I think you will learn a lot more if you first study the babypips school very thoroughly. You need to learn a lot of the basic stuff first before you can start trading. Really, it takes a lot of time, but this is the best thing you can do. You can ask all the basics here, but that's not the way to learn well. Learn first, practice later, trade last.
I LIKE!
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #24,626
  • Sep 4, 2013 6:19pm Sep 4, 2013 6:19pm
Quoting Hins
Hi, 3 good trades today, placed in the morning. Following the rules paid once again! I was wondering if someone could suggest/share a quality book on psychology of trading(other than "Trading in the zone")? I'm concerned on this as I am preparing to open a live account...will the demo acct. success sustain? {image} {image} {image}

What you may need is a daily trading coach.

Attached Image (click to enlarge)
Click to Enlarge Name: Steenbarger 101 Daily Coach.png Size: 264 KB


Using the lessons from this book will solve more than 50% of all traders' problems including trading inconsistency.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #24,627
  • Sep 4, 2013 6:31pm Sep 4, 2013 6:31pm
Quoting emmanuel7788
{quote} Now at LO+2hours we see some reaction at 0.9145 and the TIMING is just right.... coincidence or what? Anyone knows what is this TIMING?
1 of the 10 things, is TIMING:

TIMING means more that just timing your trade entry using lower timeframe for better price entry and smaller initial SL.

TIMING also means that it will prevent you in getting into trades in the wrong direction of the Primary Trend which we all trade.

TIMING is looking at all the various key markets session opening and closing and study the market behaviour. There are times what looks like a TMS sell setup but in fact there are no sellers but only buyers exiting the market or vice versa. This happen often when Tokyo closing hour and also the London closing hour.

So the question is what shall we be doing when we have open trades and we see market approaching closing hour?
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #24,628
  • Sep 4, 2013 9:30pm Sep 4, 2013 9:30pm
Quoting gsbharaj
{quote} guys what is ADR? where can i get it?
This one

http://www.forexfactory.com/attachme...1&d=1378136174
  • #24,629
  • Edited 10:05pm Sep 4, 2013 9:37pm | Edited 10:05pm
Quoting emmanuel7788
{quote} 1 of the 10 things, is TIMING:
TIMING means more that just timing your trade entry using lower timeframe for better price entry and smaller initial SL.
TIMING also means that it will prevent you in getting into trades in the wrong direction of the Primary Trend which we all trade.
TIMING is looking at all the various key markets session opening and closing and study the market behaviour. There are times what looks like a TMS sell setup but in fact there are no sellers but only buyers exiting the market or vice...

TIMING - very important thing
For the third context, can you give me example?

Thanks Emmanuel
  • #24,630
  • Sep 4, 2013 10:04pm Sep 4, 2013 10:04pm
AU 5 Sep H1:

Selling H1 IB Engulfing Bar @0.9715 swing level.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #24,631
  • Sep 4, 2013 10:20pm Sep 4, 2013 10:20pm
Quoting emmanuel7788
.... There are times what looks like a TMS sell setup but in fact there are no sellers but only buyers exiting the market or vice versa..
Emmanuel, is there any trick to identify if we have enough buyers or seller to help TMS signal valid and avoid whipsaw? I saw the other day you made some comments on volume study in Sonic R thread. Do you see anything useful in volume study? Thanks.
Simplicity is the ultimate sophistication - Leonardo da Vinci
  • #24,632
  • Sep 4, 2013 10:21pm Sep 4, 2013 10:21pm
hi guys, i have actually 2 question to ask.

1) the forcast on the economic calender is actually based on the market sentiments or what ? lets say the forecast , is 0.1 positive how do economic calender determine this value ? does anyone actually uses this numbers for intraday trading ?

2) leverage , isnt it the same as lot sizes. eg i play 1 lot of 100:1 leverage isnt it the same as i play 0.5 lots of 200:1 leverage ?
  • #24,633
  • Sep 4, 2013 11:26pm Sep 4, 2013 11:26pm
Quoting Hins
Hi, 3 good trades today, placed in the morning. Following the rules paid once again! I was wondering if someone could suggest/share a quality book on psychology of trading(other than "Trading in the zone")? I'm concerned on this as I am preparing to open a live account...will the demo acct. success sustain? {image} {image} {image}
Very good trades, and what Emmanuel recommended about Daily Coach is spot on, its on my reading list, but reading 2 others book at the moment
I Have Learned to Take Some Losses to Make Profits
  • #24,634
  • Sep 4, 2013 11:51pm Sep 4, 2013 11:51pm
Back testing

Every night or every other night , I spend them in back testing Price Action and TMS for H1 , now what I do is as follows

1- I open mt4 as usual , go back in time where I left, open time and calendar website for viewing the day of the week back tested

2- Draw support and resistance lines and zones, check for the day back tested ( Trending , Sideway Range ie Channel , or Consolidation ) and make a plan, hit F12 and forward bay by bar

3- If a trade shows up, put entry , stop loss, and target order, forward until TP is hit , exit manually with some TP or a small loss or stop loss is hit

I try to focus on timing while back testing, so what you do when you back test?, what have I miss?

Pls share your thoughts about back testing with TMS

Thanks
I Have Learned to Take Some Losses to Make Profits
  • #24,635
  • Sep 5, 2013 12:18am Sep 5, 2013 12:18am
University classes started last week and have not been able to do my 20 pip trade scalps in the 15 min chart, since London opens at 12am my time.


On the bright side this has made me go back to the TMS roots and forward test the original TMS by Big E.


Very simple stuff, be aware of market structure. Open trades by London and close by NY.

I created a basic 10k demo account, and 1lot trades.
8 out of 11 Wins -Which has been plenty of signals for 2 weeks.

Even missed a couple of rallies, but it doesn't get any easier than this.
+20% account in 2 weeks

Couple of clicks at night, then wake up and see the money. I can finally understand that statement from Big E.
Will continue to test/trade this account and way of trading till December. Ill share my results of pure TMS in december.
Attached Image (click to enlarge)
Click to Enlarge Name: 10k 2 weeks.png Size: 176 KB
Dragon Rider
  • #24,636
  • Sep 5, 2013 12:22am Sep 5, 2013 12:22am
UJ 5 Sep Tokyo+5hours,

Now the current H4 candle showing bullish and breaking out of the consolidation area.
If you are not in the market, you are very late.
this current H4 candle is only in it 2nd hour and has 2+ hours till its close.
What shall you do if you are looking for an entry?
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #24,637
  • Sep 5, 2013 12:23am Sep 5, 2013 12:23am
Quoting barloc
University classes started last week and have not been able to do my 20 pip trade scalps in the 15 min chart, since London opens at 12am my time. On the bright side this has made me go back to the TMS roots and forward test the original TMS by Big E. Very simple stuff, be aware of market structure. Open trades by London and close by NY. I created a basic 10k demo account, and 1lot trades. 8 out of 11 Wins -Which has been plenty of signals for 2 weeks. Even missed a couple of rallies, but it doesn't get any easier than this. +20% account...

You are scalping TMS 4H ....
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #24,638
  • Sep 5, 2013 12:29am Sep 5, 2013 12:29am
Quoting emmanuel7788
{quote} You are scalping TMS 4H ....

I guess you are right.

Im following Big E instructions,I am not swing trading.

The only times when i would go the full way and even double lots, is the pro trader network entry of divergence.

Like this screenshot.
Attached Image (click to enlarge)
Click to Enlarge Name: audusdih4example.png Size: 112 KB
Dragon Rider
  • #24,639
  • Sep 5, 2013 12:43am Sep 5, 2013 12:43am
Quoting emmanuel7788
{quote} What you may need is a daily trading coach. {image} Using the lessons from this book will solve more than 50% of all traders' problems including trading inconsistency.
Thank you Emmanuel,

I will be reading the book you suggest over the weekend. As I'm browsing it now, I liked this paragraph which I thought to post here:

Quote
When traders make money, they feel bright about the future and good
about themselves. When they hit a string of losing days, they become consumed
with the loss. Instead of trading for profits, they trade to not lose money.

Best,
Hins
  • #24,640
  • Sep 5, 2013 12:52am Sep 5, 2013 12:52am
Quoting TheScorpS
{quote} Very good trades, and what Emmanuel recommended about Daily Coach is spot on, its on my reading list, but reading 2 others book at the moment
Thanks TheScorpS,

I will convert the Daily Coach PDF and put it on my Kindle for easier reading...My goal is to understand how to overcome inconsistency, but I'm sure there are many other subjects we must be aware of.

Regards
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