Trading Made Simple | Page 1448 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Monitor for 'Trading Made Simple' system 565 replies

Trading Made Simple the right way, and other trading lessons 334 replies

Indicators for the 'Trading Made Simple' system 343 replies

MTF Indicators for the 'Trading Made Simple' system 241 replies

Trading Made Simple system follower - Thanks to eelfranz 9 replies

Attachments: Trading Made Simple
Exit Attachments

Trading Made Simple

  • #28,941
  • Jan 11, 2014 6:25am Jan 11, 2014 6:25am
Quoting Fx94
Hello traders, Here are 3 charts of my trades taken on E/J different timeframes. Chart 1: - 16 pips. I took the trade after i saw a double bottom, on the break of the red candle. Didnīt inform myself about the calendar. So i wondered about this big red candle. Then i looked up and saw the NFP news. But it was for USD / CAD and i trade E/J so i donīt understand why this pair also moved. Chart 2: I tried a m15 entry, but as usual i failed. I saw the big pullback candle and the kink in the green TDI line so i thought the price will go up: FAIL. Lost...
All 3 of those trades took place just before or during NFP. Unless you're an experienced trader who knows what you're doing around volatile news times then stay out. If you post some of your trades that you have taken during normal trading times it would be easier to see what you're doing wrong.
  • #28,942
  • Jan 11, 2014 6:30am Jan 11, 2014 6:30am
Quoting Helanka
{quote} Thanks lastingwell, This kind of things Hapened only NFP day or are there any other days which you recognize to don't enter the market. Thanks, Helanka

Mostly NFP and FOMC are the two news times I stay out of. I don't really take notice of red news in general because I find being on the smaller timeframes you can see the momentum for a certain direction earlier than on the htf you will still have to watch whipsaw sometimes but thats the chance you take...if in doubt stay out
  • #28,943
  • Edited 7:35am Jan 11, 2014 6:41am | Edited 7:35am
Quoting Fx94
Hello traders, Here are 3 charts of my trades taken on E/J different timeframes. Chart 1: - 16 pips. I took the trade after i saw a double bottom, on the break of the red candle. Didnīt inform myself about the calendar. So i wondered about this big red candle. Then i looked up and saw the NFP news. But it was for USD / CAD and i trade E/J so i donīt understand why this pair also moved. Chart 2: I tried a m15 entry, but as usual i failed. I saw the big pullback candle and the kink in the green TDI line so i thought the price will go up: FAIL. Lost...


Is that only Fx94 who have this problem.
I seriously doubt so that Fx94 is the only one.
So let me see how many more traders here following TMS method have problem.

Don't worry Fx94, I know exactly what you are going through. I see your problem quite clearly reading what you wrote and on the 3 charts.

Be patient and wait and see how many more members will speak up now. A general problem will require a general solution.

regards,
EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #28,944
  • Jan 11, 2014 6:51am Jan 11, 2014 6:51am
Quoting Helanka
These days I did not trade on Live account.I do some back test. I have been checking EURJPY H1 *If I trade on every TDI Cross what happened to my trade. *if I trade on TDI cross above MBL(long)below MBL(short) what happened to my trade. *If I trade by using TDI confirmation with Pull back reversal/double top,bottom reversal/MC breakout what happened to my trade. When I checked i found almost every trade go MY side at least few pip & at least we have a chance to closed BE. But I need to recognize my SL/TP/ when how many pip go on my side I should...
Are you backtesting using a simulator or just scrolling back. If just scrolling back you need to use a tdi that doesn't move after the closed candle so you can see where the tdi actually was at the time, not where it is now its adjusted itself. Using a simulator you should be ok.
  • #28,945
  • Jan 11, 2014 7:08am Jan 11, 2014 7:08am
Quoting lastingwell
{quote} Are you backtesting using a simulator or just scrolling back. If just scrolling back you need to use a tdi that doesn't move after the closed candle so you can see where the tdi actually was at the time, not where it is now its adjusted itself. Using a simulator you should be ok.
I don't use a Simulator.Just scrolling back.do you have that kind of TDI indicator. pls share it.
What i do is i marked a vertical line on the-APB closed above(buy) or below(sell)5sma line with Tdi Confirmation.
and acording to my trade plan mark the entry time /price/SL/TP/how many time hit TP/how many time closed BE/How many time lost/profit etc..details on EXCEL SHEET & after 1 month back test I check the results.
if i show any wrong thing about my trade plan i change it(change TP/SL)and again back test.that is the way I back test.

Thanks
Helanka
Helanka
  • #28,946
  • Jan 11, 2014 8:01am Jan 11, 2014 8:01am
Quoting Helanka
These days I did not trade on Live account.I do some back test.
Some months back I did the same thing. I used ATR (10 I think) to place SL and TP.
Taking every trade without discretion resulted I slightly positif results, but far from anything impressive.
BUT: When you combine a cross of TDI with the cross happening above 50 and above MBL the results were far more interesting. Win rate was above 50% and TP was on 2 - 3 R:R. Something to explore further
Don’t ever let someone tell you that you can’t do something.
  • #28,947
  • Jan 11, 2014 8:05am Jan 11, 2014 8:05am
Quoting Fx94
Hello traders, Here are 3 charts of my trades taken on E/J
I would say that the lack of patience for good opportunities and your lack of trust in your complete system.
Don't bother using multiple entries and exits for the moment

Best advice I can give you :
1. Take your time
2. Test until you trust
3. Have a general bias

Don’t ever let someone tell you that you can’t do something.
  • #28,948
  • Jan 11, 2014 8:25am Jan 11, 2014 8:25am
Quoting emmanuel7788
{quote} Is that only Fx94 who have this problem. I seriously doubt so that Fx94 is the only one. So let me see how many more traders here following TMS method have problem. Don't worry Fx94, I know exactly what you are going through. I see your problem quite clearly reading what you wrote and on the 3 charts. Be patient and wait and see how many more members will speak up now. A general problem will require a general solution. regards, EMMANUEL
I experienced this just not that long ago, and in fact I still occasionally fall in the same trap now. But certainly much less than a few months ago.

One of the ways I tried to stop jumping in and out was to only take trades on signals from 1 timeframe (at least until I am more experienced and consistent).

I trade H4, whereas before I was trying to jump around from H4 to H1 to M15. As a newer trader this just got too confusing, and I took the decision to ignore any intraday (H1 and M15) signals for the timebeing. Therefore I only take signals from the H4, while I do have the H1 chart on my multiscreen set up beside the H4 I trade off, it is only to see momentum on that lower TF and I completely ignore any signals from it.

I also concentrated on the charts of 3 Yen crosses (UsdYen, EurYen, GbpYen), which means I am only checking those 3 charts every 4 hours. It has given me a lot of time to think and assess the pros and cons of the chart set ups in between making the decision whether or not to trade. I chose these pairs as they often trend together and seem correlated in their movements much of the time.

I only take a few trades per week now if even that. Rather than trying to look at 3 diff TFs on multiple different pairs and attempting to assess the charts from all of them independently and taking lots of trades and getting myself confused.

Basically I simplified it, so I was looking at fewer charts, taking in less information and had more time to make my decisions.

I also banned myself from trading around major news like NFP, and a Monday and most of the times I wouldn't take a H4 swing trade on a Friday either.

This worked for me. And although I may not be consistent in making positive pips yet, its certainly helped a great deal.

I also read quite a few psychology books. I am sure there are lots of attached on the paperclip at the top.

Hope this helps!


irishtoffy
  • #28,949
  • Edited 3:33pm Jan 11, 2014 9:46am | Edited 3:33pm
Quoting emmanuel7788
{quote} Is that only Fx94 who have this problem. I seriously doubt so that Fx94 is the only one. So let me see how many more traders here following TMS method have problem. Don't worry Fx94, I know exactly what you are going through. I see your problem quite clearly reading what you wrote and on the 3 charts. Be patient and wait and see how many more members will speak up now. A general problem will require a general solution. regards, EMMANUEL
Could someone perhaps give me a few comments on this trade I took and what I did wrong?
Was my Stop Loss too small?
Should I have stayed out during the ECB Press Conference?

Also, on the next candle after I have entered, the TDI green line was moving up, crossing the red line as the price was moving up. When the price closed, the TDI un-crossed. I find that quite confusing. Does that mean I always wait for the candle to close for a confirmation? If so, how do you enter when the price breaks 5-10 pips above/below the MC?

Edit: Sorry I forgot to mention this is EURUSD on the H1 chart.
Attached Image (click to enlarge)
Click to Enlarge Name: 090114.jpg Size: 192 KB
  • #28,950
  • Edited 10:11am Jan 11, 2014 9:56am | Edited 10:11am
Quoting Fx94
Hello traders, Here are 3 charts of my trades taken on E/J different timeframes. Chart 1: - 16 pips. I took the trade after i saw a double bottom, on the break of the red candle. Didnīt inform myself about the calendar. So i wondered about this big red candle. Then i looked up and saw the NFP news. But it was for USD / CAD and i trade E/J so i donīt understand why this pair also moved. Chart 2: I tried a m15 entry, but as usual i failed. I saw the big pullback candle and the kink in the green TDI line so i thought the price will go up: FAIL. Lost...
Dear FX94,

I think we both of are new to Forex & TMS.But i have read lot of reply & PDF files which post here.
I think you haven't followed the basic TMS rules.
TDI cross & APB closed above 5SMA line & that APB candle should be a 1st or 2nd candle after the TDI cross.I think that is the basic TMS rules.
if we follow this rules most of the time trade go on positive side.
But some times it rivers from the beginning of the trade or some time it go few pip positive side and then rivers.Some times the trade go almost hit to our TP & then rivers.Some time trade go our side & then rivers in that time we exit on trade but price rivers only small pip & again go our side & hit our TP,but we got nothing because we have already exit from the market. thosee are the problem I have with this system.
Therefor we need a plan how many pip go on our side we should our SL as BE.if there is a any profitable trade and after how many pip rivers we should exit our trade with a small profit.what kind of setup got succeed most of the time & what kind of setup got Lost most of the time. those are the thing we should learn when back testing..
And also note There is Experts TMS trders like lastingwell , emmanuel7788 , WDays ,IMI ,Phx62 here.They enter some trade without using TDI basic & by using their experience.but we should not enter that kind of trade because we are new to this system.

Your trade 1,2 Both trade when you enter price below the 5SMA line & did not closed entry candle or previous candle above 5sma line.you didn't follow the basic of the TMS i think that is why your trade 1,2 were lost from the beginning of your trade.
Trade 3 News time trade & I'm also don't have idea to trade news time.

And also note I'm also the new to Forex & I think we both are in same level..This not a advise & just I only wanted to tell you my idea about your post. ...


Thanks,
Helanka
Helanka
  • #28,951
  • Jan 11, 2014 10:08am Jan 11, 2014 10:08am
Quoting Helanka
{quote} I don't use a Simulator.Just scrolling back.do you have that kind of TDI indicator. pls share it. What i do is i marked a vertical line on the-APB closed above(buy) or below(sell)5sma line with Tdi Confirmation. and acording to my trade plan mark the entry time /price/SL/TP/how many time hit TP/how many time closed BE/How many time lost/profit etc..details on EXCEL SHEET & after 1 month back test I check the results. if i show any wrong thing about my trade plan i change it(change TP/SL)and again back test.that is the way I back test. Thanks...

If you use this indicator attached, (the mbl line isn't on there but it could probably be added), using this you can at least see if the tdi had crossed when the candle closed below the 5ma. Set the timeframe you want it to show under inputs.
Attached File(s)
File Type: mq4 TDI-MTF-zz.mq4   4 KB | 404 downloads
  • #28,952
  • Jan 11, 2014 10:18am Jan 11, 2014 10:18am
Quoting Helanka
{quote} Dear FX94, I think we both of are new to Forex & TMS.But i have read lot of reply & PDF files which post here. I think you haven't followed the basic TMS rules. TDI cross & APB closed above 5SMA line & that APB candle should be a 1st or 2nd candle after the TDI cross.I think that is the basic TMS rules. if we follow this rules most of the time trade go on positive side. But some times it rivers from the beginning of the trade or some time it go few pip positive side and then rivers.Some times the trade go almost hit to our TP & then rivers.Some...
There's been a lot of talk about SL's, I can share my own personal experience and opinion on the matter. Bear in mind it is only my own opinion, not the only right way to do things.

So basically our SL should be whatever cuts our losses short in case of a bad trade, right? Which means that once our setup is invalidated we need to get rid of the position before we lose more money than we have to. Phx and a few others use a 50 pip emergency SL, which never actually gets taken out. It's there in case of technical problems, to protect the rest of the account so as it does not get blown up. That being said, they exit manually when a setup is invalidated according to their rules.

How can you tell that a setup has been invalidated? There is no rule set in stone, because it depends a lot on how you entered; for instance, if you entered late, you are bound to experience drawdown and cannot close after you lose a set amount of pips, because that does not invalidate the setup. The easiest SL placement method is using the previous swings. This way you are bound to not get taken out by a fakeout, only to see price continue in its initial direction. However, if price breaks the swing, then it is quite possibly going the wrong way and your trade is thus invalidated.
Some people here use signals in the opposite direction to ditch their trades, but once again, those people have fixed rules which they backtested and have worked for them 90% of the time.

Try to mechanise trading as much as possible, with the help of sl orders, instead of waiting to manually close. Figure out what lot size you should use so that IF your SL gets taken out, you won't be troubled. That should help you concentrate more on trading, rather than on your money. Set and forget. If you can, use an EA to move your sl to b/e after price moves a certain amount of pips in your favor, that would take off even more stress. Make things simple for yourself.
  • #28,953
  • Jan 11, 2014 10:27am Jan 11, 2014 10:27am
Quoting WDays
{quote} There's been a lot of talk about SL's, I can share my own personal experience and opinion on the matter. Bear in mind it is only my own opinion, not the only right way to do things. So basically our SL should be whatever cuts our losses short in case of a bad trade, right? Which means that once our setup is invalidated we need to get rid of the position before we lose more money than we have to. Phx and a few others use a 50 pip emergency SL, which never actually gets taken out. It's there in case of technical problems, to protect the rest...

Thanks For your reply

Helanka
Helanka
  • #28,954
  • Jan 11, 2014 10:32am Jan 11, 2014 10:32am
Quoting Neon
{quote} Could someone perhaps give me a few comments on this trade I took and what I did wrong? Was my Stop Loss too small? Should I have stayed out during the ECB Press Conference? Also, on the next candle after I have entered, the TDI green line was moving up, crossing the red line as the price was moving up. When the price closed, the TDI un-crossed. I find that quite confusing. Does that mean I always wait for the candle to close for a confirmation? If so, how do you enter when the price breaks 5-10 pips above/below the MC? {image}

Which timeframe and which pair is this, a lot of traders giving comments usually like to compare with their own charts.
  • #28,955
  • Jan 11, 2014 10:33am Jan 11, 2014 10:33am
Quoting lastingwell
{quote} Which timeframe and which pair is this, a lot of traders giving comments usually like to compare with their own charts.
It seems EU H1
  • #28,956
  • Jan 11, 2014 10:35am Jan 11, 2014 10:35am
Quoting Helanka
{quote} Dear FX94, I think we both of are new to Forex & TMS.But i have read lot of reply & PDF files which post here. I think you haven't followed the basic TMS rules. TDI cross & APB closed above 5SMA line & that APB candle should be a 1st or 2nd candle after the TDI cross.I think that is the basic TMS rules. if we follow this rules most of the time trade go on positive side. But some times it rivers from the beginning of the trade or some time it go few pip positive side and then rivers.Some times the trade go almost hit to our TP & then rivers.Some...
I am not an expert TMS trader, I am relatively new to the TDI, I have just read every post of phx62 and gone over and over his charts comparing them to mine, then found a way to "see" those trades more easily for me, until I ended up taking roughly the same trades in the same place as he does, thats all.
  • #28,957
  • Jan 11, 2014 10:36am Jan 11, 2014 10:36am
Quoting WDays
{quote} It seems EU H1

Thank you
  • #28,958
  • Jan 11, 2014 10:40am Jan 11, 2014 10:40am
Quoting lastingwell
{quote} If you use this indicator attached, (the mbl line isn't on there but it could probably be added), using this you can at least see if the tdi had crossed when the candle closed below the 5ma. Set the timeframe you want it to show under inputs. {file}

Thanks for you reply
Pls see attached image after lord the indicator.I want to see h1 time frame.
I think that TDI also same like normal TDI indicator.
Pls advise..

Thanks
Helanka
Attached Image (click to enlarge)
Click to Enlarge Name: tdi mtf.png Size: 134 KB
Helanka
  • #28,959
  • Jan 11, 2014 10:49am Jan 11, 2014 10:49am
Quoting lastingwell
{quote} I am not an expert TMS trader, I am relatively new to the TDI, I have just read every post of phx62 and gone over and over his charts comparing them to mine, then found a way to "see" those trades more easily for me, until I ended up taking roughly the same trades in the same place as he does, thats all.
That goes double for me, I'm very far from being an expert actually, sadly.. phx, emmanuel and lastingwell are light years ahead of me
  • #28,960
  • Jan 11, 2014 10:52am Jan 11, 2014 10:52am
Quoting Neon
{quote} Could someone perhaps give me a few comments on this trade I took and what I did wrong? Was my Stop Loss too small? Should I have stayed out during the ECB Press Conference? Also, on the next candle after I have entered, the TDI green line was moving up, crossing the red line as the price was moving up. When the price closed, the TDI un-crossed. I find that quite confusing. Does that mean I always wait for the candle to close for a confirmation? If so, how do you enter when the price breaks 5-10 pips above/below the MC? {image}
I always close trades prior to the ECB Press Conference & NFP releases. I trade TMS off the 1HR charts & there are plenty of opportunities prior to these releases to trade.

Always wait for the candle to close. Also, you want to be using HA or Synergy candles because you want to enter on candles with large bodies & not doji's.
82 traders viewing now, 2 are registered:
kola.bear020
,