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Trading Made Simple

  • #26,741
  • Oct 22, 2013 1:42am Oct 22, 2013 1:42am
Quoting itsallover
... at the risk of sounding dumb.... could someone please tell us what EOD and LOD stand for?
Sorry mate, it is Low Of the day! My day starts at london open so it the low of the london session!
Give yourself a chance and trade it like it's layed out...
  • #26,742
  • Oct 22, 2013 1:44am Oct 22, 2013 1:44am

Snarlyjack, thanks for my vouch appreciate it.

Give yourself a chance and trade it like it's layed out...
  • #26,743
  • Oct 22, 2013 1:58am Oct 22, 2013 1:58am
Looks like from Monday there has been very little volume in the market, just look at the size of the 4hr candles! Don't forget we have some very big news reports out today and I am sure this is what the market is waiting for.
Give yourself a chance and trade it like it's layed out...
  • #26,744
  • Oct 22, 2013 2:17am Oct 22, 2013 2:17am
Hello all, novice trader here. For the past week or so I've been demo trading using this great method and reading through this great thread, got to about page 250 and I thought I'd pop in and say hi

I live in Europe, I trade the hourly charts during the London session and maybe the first few hours of NY. Last week I've entered on some great setups, and along with the correlation factor I've got some ridiculous profits. However so far this week it's all flat, I guess everyone waiting for the news. All in all, I have still a lot to learn, I want to keep demo trading for a couple of weeks, and if I really get the hang of it, I'll put 100€ in a live account and go slowly from there.

Anyway, good luck and may this week's pip draught end already
  • #26,745
  • Oct 22, 2013 2:33am Oct 22, 2013 2:33am
There's been a lot of candles with long wicks/shadows since last week before the US reopen, but the market still seems to be throwing in these long wicks this week.

Do most people stay out of the market in conditons like this?
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  • #26,746
  • Oct 22, 2013 2:53am Oct 22, 2013 2:53am
EJ still in this trade, If you was up during Asia there was another good entry, TDI Green over Red over yellow and the markets making higher lows and higher highs.
I was sleeping!
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Give yourself a chance and trade it like it's layed out...
  • #26,747
  • Oct 22, 2013 3:14am Oct 22, 2013 3:14am
Quoting heispark
EJ 1H looks interesting... Looks it would have a breakout sooner or later.
Attached Image


Simplicity is the ultimate sophistication - Leonardo da Vinci
  • #26,748
  • Oct 22, 2013 4:06am Oct 22, 2013 4:06am
Quoting Lane
Hello all, novice trader here. For the past week or so I've been demo trading using this great method and reading through this great thread, got to about page 250 and I thought I'd pop in and say hi I live in Europe, I trade the hourly charts during the London session and maybe the first few hours of NY. Last week I've entered on some great setups, and along with the correlation factor I've got some ridiculous profits. However so far this week it's all flat, I guess everyone waiting for the news. All in all, I have still a lot to learn, I want to...
Welcome to the thread Lane.
  • #26,749
  • Oct 22, 2013 4:12am Oct 22, 2013 4:12am
Quoting Bizzzle
EJ still in this trade, If you was up during Asia there was another good entry, TDI Green over Red over yellow and the markets making higher lows and higher highs. I was sleeping! {image}
It pays off to have nerves of steel!


Good job
  • #26,750
  • Oct 22, 2013 4:33am Oct 22, 2013 4:33am
Quoting WDays
{quote} It pays off to have nerves of steel! Good job
To be honest once you get emotion out of trading you will not need balls of steel.

I had a 10 pip stoploss to gain almost 10x that if my target is hit!

When trading you need confidence in your trades, if the trade fits your trading plan, trade them but like you said before that trade was not for you not in your plan.

Sometimes its harder to stay out than to just jump in!

All the best
Give yourself a chance and trade it like it's layed out...
  • #26,751
  • Oct 22, 2013 4:43am Oct 22, 2013 4:43am
Quoting heispark
{quote} {image}
I have mine drawn slightly differently, but still looks like a rising wedge pattern. http://stockcharts.com/school/doku.p..._wedge_reversa
  • #26,752
  • Oct 22, 2013 5:24am Oct 22, 2013 5:24am
Dear friends,

Please help me.

I'm doing a job but I have been spending lots of time to study Forex Trade made simple I have read lot of thread reply's & PDF files.
Try to trade EURUSD.but most of the time I was lost.
please any Senior trader of TMS help me.please advise me what should I do ? i will follow you. I can do anything to learn this thread,
I think if i follow a one trader i can success,because even though the main thread is TMS, every trader use different technique & according to thread reply's most of them are most of the time profit.But i can not profit. As i think the reason is i 'm going to follow every body

So Please help me!!!

Thanks
Helanka
Helanka
  • #26,753
  • Oct 22, 2013 5:25am Oct 22, 2013 5:25am
Quoting Bizzzle
{quote} To be honest once you get emotion out of trading you will not need balls of steel. I had a 10 pip stoploss to gain almost 10x that if my target is hit! When trading you need confidence in your trades, if the trade fits your trading plan, trade them but like you said before that trade was not for you not in your plan. Sometimes its harder to stay out than to just jump in! All the best
Oh I had confidence, but taking out emotion from trading is something that will never happen to me... I love gambling. I do it for the thrill. I play poker, bet on sports and, hell, if I could, I'd bet on a kid playing Mortal Kombat against his friend of the same age... but I only take high probability gambles or manage my RR well, whichever is possible. When it comes to forex, I don't gamble, but subconsciously I have kept one aspect of gambling, and that is "everything should happen as quickly as possible". It's the reason why I can't be a swing trader, it's the reason why I stick to smaller tfs. It is also the reason I will not take a trade that will take 2 days to bring me 20-30 pips... The setups I take are the ones behind which there's plenty of momentum, where price goes somewhere and it goes there fast.

There's a model according to which one needs to figure out how much of one's time (which can be put to use for leisure) he wants and can afford to put to working instead. In order to do so, one first needs to know how much money 1h of labor is equal to.... Very crude explanation of what happens in my head, but you gotta give me credit for trying at least....
  • #26,754
  • Oct 22, 2013 5:26am Oct 22, 2013 5:26am
Quoting lastingwell
{quote} I have mine drawn slightly differently, but still looks like a rising wedge pattern. http://stockcharts.com/school/doku.p..._wedge_reversa
Thank you for the link to a good website!
Good resource for learning, never ending learning....
Simplicity is the ultimate sophistication - Leonardo da Vinci
  • #26,755
  • Oct 22, 2013 5:44am Oct 22, 2013 5:44am
Hi all

My first post on this thread, so firstly have to say thank you to the late Big E for starting this all off. Thanks also to everyone else who's been sharing their knowledge here and it's great to see that Emmanuel is still posting after his recent "goodbye", thought I had missed the chance to learn from you, so very pleased to see that you are still posting.

Anyway, here's a trade I took earlier today. A nice bounce and cross of TDI from yesterdays low, daily and weekly are both indicating long, so I took 50% off at 1:1 RR, stop loss to b/e and I'll trail the rest behind the R multiples and see where price takes me?
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  • #26,756
  • Oct 22, 2013 5:52am Oct 22, 2013 5:52am
Closed half my position at 42 pips
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Give yourself a chance and trade it like it's layed out...
  • #26,757
  • Oct 22, 2013 6:29am Oct 22, 2013 6:29am
Quoting emmanuel7788
TMS 4H trading: Using EURGBP H4 as example. Price action and use of Support and Resistance will give you a high probability trade setup and will get you into the market with less stress. You need to see price action with momentum and increase in the price relative strength which the TDI Green,Red and Yellow will show you. When both the price trend strength and the TDI trend strength are in synergy or harmony, your trade initial SL will not be threaten... thus less emotional stress and dealing with drawdowns. Follow TMS 4H basic entry rule: Enrty...
Thank you for this Emmanuel, i entered too late in the game on my trade i made yesterday. I was trying to let price move out of the guppy MA's thinking it would be a good entry. When i first started looking at my charts i missed the initial move up and didn't follow the rules of the system. I just need to practice discipline and patience more. I will check out the RSI book you mentioned.
  • #26,758
  • Oct 22, 2013 6:32am Oct 22, 2013 6:32am
Here is an update to my trade i took yesterday. I woke up around 2am my time to check how it was doing at the London open, and noticed it had barely moved up. No momentum and i already missed the move. Looking with a fresh mind i also noticed a possible triangle being formed. I need to practice more. Thanks everyone for the help. I exited my trade +1pip.

http://imageshack.com/a/img266/3608/jub0.pngUploaded with ImageShack.com
  • #26,759
  • Oct 22, 2013 8:03am Oct 22, 2013 8:03am
Quoting adamjhdavis
{quote} Well done Bizzzle took it myself at 134.18 on the next 5 min retrace at BE now. I love low Risk to high Reward its the only way.
Hope u held it mate
Give yourself a chance and trade it like it's layed out...
  • #26,760
  • Oct 22, 2013 8:17am Oct 22, 2013 8:17am
TP hit on my EJ trade from yesterday I targeted for just below 135!

1/2 @ 42 pips
1/2 @ 85 pips

Time for some golf.

Good luck
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Give yourself a chance and trade it like it's layed out...
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