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Trading Made Simple

  • #25,341
  • Sep 20, 2013 8:12am Sep 20, 2013 8:12am
Quoting emmanuel7788
{quote} Here is my suggestion: 1) Being a new trader, stick to trading only these pairs - AUDUSD, EURUSD, GBPUSD, USDJPY, EURJPY. 2) Since you are trading H1, Price Action is very important and the TDI is to confirm the Price Action. In this EURNZD trade, what is the Price Action before you decide to take the trade on TDI cross down? Also did you consider the spread for this pair and comparing this spread to that of the pairs mention in 1) above? Where is your initial SL? and your TP? Edit: Read post#24,915...
i will stick with these pairs that you have described. the spreads on other pairs are quite high. thank you
when i opened the trade there was price action as it touched the ema 50. but i didnot put on any stop loss and the trade went on to be a loser. scalping for me is difficult as i am working and can't monitor trades each hour. looks like i need to look at the h4 setups.
i will post my each trade with stop loss from now on.

and your posts are very helpful thank you very much.
Come tomorrow, I'll wake up new
  • #25,342
  • Sep 20, 2013 8:16am Sep 20, 2013 8:16am
Hello to all

have been very busy lately so only one quick scalp today.
Im testing using the principles of Mother candle combined with TMS to take advantage of some setups.
Here is my trade today. could have made 100 pips, but since i wasnt monitoring the trade, decided to have a smaller TP.

A brief note to all the traders who are struglling : dont take every TDI cross. Find on Daily and 4H good technical price action setups and then go to 1H and enter based on your trading rules with TDI using the TMS model. This will allow you to have the risk of 1H Timeframe, but targets of 4H or Daily giving you a good Risk Reward ratio.

Good trading to everyone.
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  • #25,343
  • Sep 20, 2013 8:45am Sep 20, 2013 8:45am
Hi Emmanuel,

I really appreciate the continued education and time you put into this thread. I learned about Master Candles from a post you you put up recently about a 15M scalp - since then I have been doing my homework. I see many of your posts have purple horizontal bars at the top/botton of MC. Is this an indicator or are you mannually drawing these lines?

You also mention the R-Multiple method for managing TP levels. I am not finding useful links on FF about this. Can you point me in the right direction?

Thanks

Quoting emmanuel7788
{quote} Hi Wqiang, When we trade TMS 4H, we look for trending market type. TMS is not good for trading when market is in narrow range and in consolidation. After this week MC breakout, seen in D chart, what do we see on our D chart? - market paused at RN 135.00, above is a MN historical resistance 135.11 - the D momentum is still there, but it would be difficult to get an entry on D chart, why? where do you want to place your initial SL? - after a bull rally yesterday, we have to see how deep the retracement before we get into any buy entry. - retracement...
Without vision, the people will perish.
  • #25,344
  • Sep 20, 2013 9:15am Sep 20, 2013 9:15am
Quoting munirpt
Hello to all have been very busy lately so only one quick scalp today. Im testing using the principles of Mother candle combined with TMS to take advantage of some setups. Here is my trade today. could have made 100 pips, but since i wasnt monitoring the trade, decided to have a smaller TP. A brief note to all the traders who are struglling : dont take every TDI cross. Find on Daily and 4H good technical price action setups and then go to 1H and enter based on your trading rules with TDI using the TMS model. This will allow you to have the risk...
Since i wasnt able to capture the entire move (100 pips) on the first leg, decided to re-enter when i saw a pin bar at 10 ema on the 15TF. this time went to the optimal target. More 50 pips locked in. a good 100 pips trading day....
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  • #25,345
  • Sep 20, 2013 9:21am Sep 20, 2013 9:21am
Trades I took this week on the EJ H1. One trade taken a the open of the week and one Asian trade based on price action (Inside bar pattern). That trade was not a TDI trade even though the green was over red and yellow and the 50 line......the trade was not taken if the first two candle following a crossover. The other trades were all taken at or near London Open......today was a fake-out candle that I exited for a loss......still a profitable week thanks to FOMC news moving the market.
Attached Image (click to enlarge)
Click to Enlarge Name: 2013.9.20 ej h1 week.png Size: 87 KB
  • #25,346
  • Sep 20, 2013 9:33am Sep 20, 2013 9:33am
Quoting Phx62
Trades I took this week on the EJ H1. One trade taken a the open of the week and one Asian trade based on price action (Inside bar pattern). That trade was not a TDI trade even though the green was over red and yellow and the 50 line......the trade was not taken if the first two candle following a crossover. The other trades were all taken at or near London Open......today was a fake-out candle that I exited for a loss......still a profitable week thanks to FOMC news moving the market.{image}
Hi Phx

Great trades as usual...
Only one question : on your third trade (the one with +22) , we had a break of previous structure. What made you close the trade at that particular point? Green was above red and yellow and 50, without being overbought so all signs were bulish...

Thank you very much for sharing the chart for all of us to learn...

Munir
  • #25,347
  • Sep 20, 2013 10:18am Sep 20, 2013 10:18am
Hello All!
One trade today on gu H1 , missed my TP by 2 pips,
and quickly started to pullback in the last minute of the hour. My entry was a tiny bit late
Closed manually for +35.
Have a good weekend!

Phx62, thank you for sharing your trades with us, super logical trades as always , good
to learn from you. I did take the fourth trade you did, but I entered in asia session ,and was
also good for 50pips
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If you're going through hell, keep going. Winston Churchill
  • #25,348
  • Sep 20, 2013 10:18am Sep 20, 2013 10:18am
XAU very nice MC breakout on H4.

Now we must watch those pre-2010 rally levels I highlighted in post#25,200.
1332.50 .. now being tested.
1241.13
1179.35
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #25,349
  • Sep 20, 2013 10:24am Sep 20, 2013 10:24am
Quoting bythepound
Hi Emmanuel, I really appreciate the continued education and time you put into this thread. I learned about Master Candles from a post you you put up recently about a 15M scalp - since then I have been doing my homework. I see many of your posts have purple horizontal bars at the top/botton of MC. Is this an indicator or are you mannually drawing these lines? You also mention the R-Multiple method for managing TP levels. I am not finding useful links on FF about this. Can you point me in the right direction? Thanks {quote}

Hi bythepound,

Those lines are drawn using tools developed by my team as part of our system development project.

R-Multiple by Dr Van Tharp mentioned here in this thread. Look for his books also his website. You won't find much in FF.

regards,
EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #25,350
  • Sep 20, 2013 10:24am Sep 20, 2013 10:24am
Quoting munirpt
{quote} Since i wasnt able to capture the entire move (100 pips) on the first leg, decided to re-enter when i saw a pin bar at 10 ema on the 15TF. this time went to the optimal target. More 50 pips locked in. a good 100 pips trading day.... {image}
Nice gold trade guys!
If you're going through hell, keep going. Winston Churchill
  • #25,351
  • Sep 20, 2013 10:28am Sep 20, 2013 10:28am
Quoting Msis125125
{quote} {image}

Hi Msis buddy,

Surprise to see your post here in TMS. Your sell entry was very risky when the price momentum was very bullish.

You held through the consolidation and now you are in the money. Manage and get the most of this run.

Have you considered scaling in more position as you banked in profits?

regards,
EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #25,352
  • Sep 20, 2013 11:01am Sep 20, 2013 11:01am
XAUUSD

Two trades today (both M15).

1. Entered after pinbar closed below 10ema (learnt this from ASSM15 thread). Exited for +53 as price pulled back from 800ema. Snap munir.

2. Re-entered after price broke 800ema. Exited for +42 just above ADR low.
Attached Image (click to enlarge)
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  • #25,353
  • Sep 20, 2013 11:03am Sep 20, 2013 11:03am
Quoting Axiom
XAUUSD Two trades today (both M15). 1. Entered after pinbar closed below 10ema (learnt this from ASSM15 thread). Exited for +53 as price pulled back from 800ema. Snap munir. 2. Re-entered after price broke 800ema. Exited for +42 just above ADR low. {image}
Good trades
  • #25,354
  • Sep 20, 2013 11:16am Sep 20, 2013 11:16am
EURAUD D trading

Quoting emmanuel7788
EURAUD D potential: {image} Looking at LTF entry and build positions. Caution, it is or will be Friday and Germany Federal Elections this weekend.
Attached Image (click to enlarge)
Click to Enlarge Name: EURAUD week 38 potential D 20-9-2013 5-56-23 AM.png Size: 33 KB


Now after London closed today, we see price move above the last historical S&R.
Wait till next week market re-open ...

Attached Image (click to enlarge)
Click to Enlarge Name: EURAUD week 38 LC 21-9-2013 12-11-19 AM.png Size: 23 KB


It has been great trading week...

Time for my bedtime.

Have a Good Weekend folks.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #25,355
  • Sep 20, 2013 11:25am Sep 20, 2013 11:25am
Quoting Axiom
{quote} Hi Emmanuel Been staring at your chart and racking my brains until i feel i want to go crazy. Next Guess: Breakout form prev weeks swing Highs or Lows when accompanied by TDI PL crosses over TSL are high probability trades? Entry based on PASR on LTF's. Axiom {image}
Quoting Axiom
{quote} Hi Emmanuel Guess 3: Long wicks on the HTF indicate uncertainty, prices looking for direction. Possible price move in the near term. Warning to get ready? ?????? Axiom
Axiom,

Really appreciate your effort in this exercise. Thanks a lot.

I'll give everyone more time to see if they are interested to do this exercise especially those who posted and want to learn another effective candlestick pattern for TMS trading.

By now, you all saw the effectiveness in the use of Master Candle to keep you out of poor trades using just TDI cross.
You have seen how I look for market consolidation and stay of out of the market and those setups which are low probability.

It is about the market type which I mentioned many times in this thread.

regards,
EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #25,356
  • Sep 20, 2013 12:07pm Sep 20, 2013 12:07pm
Quoting emmanuel7788
{quote} Hi Msis buddy, Surprise to see your post here in TMS. Your sell entry was very risky when the price momentum was very bullish. You held through the consolidation and now you are in the money. Manage and get the most of this run. Have you considered scaling in more position as you banked in profits? regards, EMMANUEL
Yeah buddy, nice to see you, trying something nice here. See how it goes! I don't like scalping, more into long runs like 300-500 pips!
Attached Image(s) (click to enlarge)
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There is no spoon....
  • #25,357
  • Sep 20, 2013 12:16pm Sep 20, 2013 12:16pm
Quoting munirpt
Hello to all have been very busy lately so only one quick scalp today. Im testing using the principles of Mother candle combined with TMS to take advantage of some setups. Here is my trade today. could have made 100 pips, but since i wasnt monitoring the trade, decided to have a smaller TP. A brief note to all the traders who are struglling : dont take every TDI cross. Find on Daily and 4H good technical price action setups and then go to 1H and enter based on your trading rules with TDI using the TMS model. This will allow you to have the risk...
Thanks Munir, good points here which I try to follow and come up with a way to look at 4h and daily , and then trade that setups on the H1
I Have Learned to Take Some Losses to Make Profits
  • #25,358
  • Sep 20, 2013 1:58pm Sep 20, 2013 1:58pm
Quoting emmanuel7788
{quote} {quote} Axiom, Really appreciate your effort in this exercise. Thanks a lot. I'll give everyone more time to see if they are interested to do this exercise especially those who posted and want to learn another effective candlestick pattern for TMS trading. By now, you all saw the effectiveness in the use of Master Candle to keep you out of poor trades using just TDI cross. You have seen how I look for market consolidation and stay of out of the market and those setups which are low probability. It is about the market type which I mentioned...
Hi Emmanuel

Ref: Your chart in post #25357.
Same pattern on a different pair and TF. Does it indicate an end of consolidation?

Axiom
Attached Image (click to enlarge)
Click to Enlarge Name: Pattern on EA.png Size: 51 KB
  • #25,359
  • Sep 20, 2013 4:16pm Sep 20, 2013 4:16pm
Quoting munirpt
{quote} Hi Phx Great trades as usual... Only one question : on your third trade (the one with +22) , we had a break of previous structure. What made you close the trade at that particular point? Green was above red and yellow and 50, without being overbought so all signs were bulish... Thank you very much for sharing the chart for all of us to learn... Munir
munir,
The second candle was a small inside bar and closed below the open which was my first warning sign. All three of the first candles had pullbacks that I did not like so I exited when the third candle began to pull back. There just was not much momentum. I like to see some momentum during the first couple of hours of London. If it is not there and there are no big news announcements pending, price usually doesn't move much until the NY session....and sometimes not even then.
  • #25,360
  • Sep 20, 2013 4:21pm Sep 20, 2013 4:21pm
Hey everyone. Really liking the simplicity of this system. I like to trade day charts instead of 4H charts. I really don't want to interrupt my sleep since it really takes a toll on me when I wake up. Anyway, I've been trading demo for a while now and I really like it. Here are some trades I took this week. One was a small winner, and the other one is ongoing. Some critiques or tips would be great.

AUD/USD
http://i1303.photobucket.com/albums/...ps62c4ac33.png
- Kinda took a risk for this one. If I go long I like it if the green line crosses up near the 32 line. But I took it anyway since it was going with the short term trend and both my TP were hit. A small winner here.

EUR/GBP
http://i1303.photobucket.com/albums/...ps0ba0eccd.png
- Entry looked like a solid reversal. Green line crossed up near the 32 line and showed strong momentum
- This is an ongoing trade. So far it's gone up a bit and pulled back, but still +10 pips.
- It's a counter trend trade, not sure if I want to stick in it for too long. Looked at the 4H chart and momentum seems to be dying off even though daily still looks fine
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