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Trading Made Simple

  • #28,961
  • Jan 11, 2014 11:28am Jan 11, 2014 11:28am
Does anyone know the fastest way to find out the results of high impact news ?
i have a live account with fxcm and access to to things like daily fx etc, but although still not as quick as the market reacts, forex factory seems to be quicker at announcing the result !

anyone got any faster service ?

regards
nelly
  • #28,962
  • Edited 2:35pm Jan 11, 2014 2:23pm | Edited 2:35pm
Quoting Helanka
{quote} 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 {image}

To be honest I have only used it as a mtf indicator, so the 1hr on 15min timeframe it perhaps doesn't matter so much as a straightforward cross indicator on the same timeframe. What I did, was look at the h1 timeframe while backtesting, looking at candle patterns/sr etc and then when it looked like the cross happened at the beginning of the candle, go to the m15 with the 60min on there and see where it actually crossed and you will find sometimes it didn't actually cross until anywhere between 10 and 45 minutes later, that can make quite a difference to what you would actually do live. Although, you should always look at PA first and just look for confirmation from the TDI.
  • #28,963
  • Jan 11, 2014 3:34pm Jan 11, 2014 3:34pm
Quoting lastingwell
{quote} Which timeframe and which pair is this, a lot of traders giving comments usually like to compare with their own charts.
Sorry completely forgot about this. It's the EURUSD on the H1 chart.
  • #28,964
  • Jan 11, 2014 10:20pm Jan 11, 2014 10:20pm
Quoting emmanuel7788
TMS lovers: Here is something which some of us may want to consider this new year. Moving one level higher and trade the D chart timeframe. That will take less time on our charts and definitely better trades and win rates. What do you all think? {image}
Emmanuel7788, i think i may start looking to the daily time frames to trade simply because of my limitations of times i'm available to trade. LO is 2am my time (CST), and all of NY session i am at work, so i miss out on most of the best trading sessions. I read that pdf "concepts of correct trading behavior" and i really enjoyed the bandwagon allegory. I think for me it will be easier to trade on the daily TF since it takes so long for a new candle to form and at least then, i will have enough time to check for trades. Sure the setups will be less frequent, but they seem obvious when they are present.
  • #28,965
  • Jan 11, 2014 11:57pm Jan 11, 2014 11:57pm
Quoting lastingwell
{quote} To be honest I have only used it as a mtf indicator, so the 1hr on 15min timeframe it perhaps doesn't matter so much as a straightforward cross indicator on the same timeframe. What I did, was look at the h1 timeframe while backtesting, looking at candle patterns/sr etc and then when it looked like the cross happened at the beginning of the candle, go to the m15 with the 60min on there and see where it actually crossed and you will find sometimes it didn't actually cross until anywhere between 10 and 45 minutes later, that can make quite...
Yes it work.i can get an idea at what time TDI cross actually by using this.
Thanks for your kind support.

Helanka
Helanka
  • #28,966
  • Jan 12, 2014 3:19am Jan 12, 2014 3:19am
Hi Guys ! I'm new to this thread but I was reading it about one week very carefully, I have downloaded most of pdfs attached here an they are great really helped me out. TDI seem to be one of these "holy grail systems". It give us entry point very early and on trending market we can trade both ways with trend and against it but my problem is still to define ranging market... Or maybe not excatly define ranging but does ranging has already ended ? Do you guys have any methods or tricks or w/e to find out does we are coming from ranging to trending phase again ? Mine for example is if I see combinations i.e 2 blues and then 2 reds and then 1 blue again I try to stay away rom this and wait for big move up or move down, it's most simple but need to be patient. Maybe you have method that indicate that ranging market is over on TDI or any other indicator ? If you have I'll be glad to hear some of them. Maybe it's noobish question and simple but it's one the rules in KISS that need to be understanded perfectly to trade well . Have a great sunday and pips this week. Cheers.
  • #28,967
  • Jan 12, 2014 3:23am Jan 12, 2014 3:23am
Have just been reading Phx62's pdf (again!) something that might help people in back testing which I didn't know....

Pressing f12 moves one candle forward at a time, only a minor point but it's helped me so I thought I'd share it.

Hope everyone here's having a nice weekend!

Gareth
  • #28,968
  • Jan 12, 2014 3:49am Jan 12, 2014 3:49am
This is my other H4 trade this week on GJ. Entry was too late after the BO from MC (same as my previous EJ chart posted a few days ago).

Hopefully I will remember this in future, ready for the next MC BO on my charts!

Any advice or comments welcome!
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurjpyh4.png Size: 51 KB
Click to Enlarge Name: gbpjpyh4.png Size: 52 KB
  • #28,969
  • Jan 12, 2014 4:09am Jan 12, 2014 4:09am
Attitude to be a successful TMS trader:

Here is a funny one coming from Captain Jack Sparrow.

Attached Image (click to enlarge)
Click to Enlarge Name: attitude problem.png Size: 144 KB


I know this use of attitude word can be sensitive in different cultures and I hope some of you will not take it wrong and differently here.

As for me, there is no good or bad attitude. To succeed in trading and to trade this simple TMS method, we need to have an attitude for it.

Look at your attitude and do self examining and then ask yourself what you need to work on and make changes.

It wont be easy but everyone need to make that transformation necessary.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #28,970
  • Edited 5:15am Jan 12, 2014 4:19am | Edited 5:15am
My suggestion to all having difficulties is;

1) Learn and watch what price is doing and telling you. (some of the most successful traders I know, trade with almost naked charts. They watch price, s/r (supply and demand) and round numbers) It is so easy to get caught up into relying on lagging indicators, squiggly lines and such and not pay attention to what the big money, banks etc. are doing. MM's have orders placed at at these s/r areas and round numbers. We should mimic what they are doing and go along for the ride. The MM's can run price in any direction and at any time they feel the need to do so and grab stops and then reverse quickly.

2) Trade with the trend, especially new traders.

3) Only use any indicator as a filter to confirm what price is doing.

4) Try to discern by watching price, if MM's are running price up or down quickly to get excited traders to quickly jump in (not wanting to miss a potentially big move) and then quickly reverse grabbing stops and run the opposite direction How many times has that happened to all of us!!

So many charts are so cluttered with indicators that price is hardly visible. We are all guilty of loading up with these indicators as security blankets hoping it will be the Holy Grail which does not exist in trading. TMS is a great method, but I believe that we all should attempt to understand what the market is telling us and why no method/system will work in all conditions.

Many times we will use a method, lose some money and decide the method/system does not work and run and try to find another when we should be focusing on reading the charts and understanding the weaknesses and strengths of any method.

Anyway, just my 2 cents and Many Pips To All!
Attached Image
Keep It Simple
  • #28,971
  • Edited 5:26am Jan 12, 2014 5:00am | Edited 5:26am
Quoting irishtoffy
This is my other H4 trade this week on GJ. Entry was too late after the BO from MC (same as my previous EJ chart posted a few days ago). Hopefully I will remember this in future, ready for the next MC BO on my charts! Any advice or comments welcome! {image} {image}

what I see is that those multiple moving averages are hampering you to trade TMS 4H with the basic entry and exit rules.

here is a post mortem chart below:

Attached Image (click to enlarge)
Click to Enlarge Name: GJ week 02 POMO.png Size: 71 KB


there were not significant S&R seen in weekly and monthly charts

but D will show one swing high and that was eventually broken.

below is D-chart, now we see S&R from nexrt week 03 play.

Attached Image (click to enlarge)
Click to Enlarge Name: GJ week 02 D chart view.png Size: 54 KB


this week 02, we see that price level turned support with double bottom.

do you see those candle marked 1 , 2 and 3?

are these valid setup candles for TMS 4H entry?
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #28,972
  • Jan 12, 2014 5:05am Jan 12, 2014 5:05am
Quoting cigarguy
My suggestion to all having difficulties is; 1) Learn and watch what price is doing and telling you. (some of the most successful traders I know, trade with almost naked charts. They watch price, s/r (supply and demand) and round numbers) It is so easy to get caught up into relying on lagging indicators, squiggly lines and such and not pay attention to what the big money, banks etc. are doing. MM's have orders placed at at these s/r areas and round numbers. We should mimic what they are doing and go along for the ride. The MM's can run price in...

Hi Cigarguy,

Good points you made there. I would add though that TMS is supposed to be simple trading along the lines that eelfranze originally laid out using a couple of indicators only.

That would suggest that over time his ideas have evolved somewhat and we now see a plethora of indicators being thrown onto the mix ( just look at all the attachment files for example).

I for one am trying to maintain the original concept with minimal indicators although I confess I have introduced my own use of an additional MA to guide me for add on orders once in the trade.

I think whatever way the majority of traders trade, that we all will ultimately only only pull the trigger on the strength of what an indicator tells us though, irrespctive of what price action is saying or not rightly or wrongly, because i feel as humans we unfortunately lack the confidence to react any differently. for that reason, hats off to naked chart traders, but personally I need that signal before I get involved....thats just my opinion thoiugh
  • #28,973
  • Jan 12, 2014 5:30am Jan 12, 2014 5:30am
Big Picture planning or Weekly Top Down Analysis WTDA planning:

Folks,

Now is time for you to do your weekly planning.

You can post your big picture or WTDA here and I will share with you my views so that we can learn together.

Trade Well!
EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #28,974
  • Jan 12, 2014 5:31am Jan 12, 2014 5:31am
Quoting emmanuel7788
{quote} what I see is that those multiple moving averages are hampering you to trade TMS 4H with the basic entry and exit rules. here is a post mortem chart below: {image} there were not significant S&R seen in weekly and monthly charts but D will show one swing high and that was eventually broken. below is D-chart, now we see S&R from nexrt week 03 play. {image} this week 02, we see that price level turned support with double bottom. do you see those candle marked 1 , 2 and 3? are these valid setup candles for TMS 4H entry?
Thanks for the great post. That's how we all learn and improve and is exactly what I was talking about in my above post. Clean charts with excellent advice and teaching.
Keep It Simple
  • #28,975
  • Jan 12, 2014 5:45am Jan 12, 2014 5:45am
EJ Monthly view:

Look at EJ MN chart below.
We dont see any historical price swings in 2009 to 2013.
Look further back to 2006, there are two significant price swing levels which can come into play.
2006 is too far back some may say.

So next week 03 onwards, what shall we use for support and resistance? anyone like to share?

Attached Image (click to enlarge)
Click to Enlarge Name: EJ week 03 planning MN.png Size: 50 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #28,976
  • Jan 12, 2014 6:00am Jan 12, 2014 6:00am
D-chart trading:

For those of you who do not have time to trade H1 and H4 and now wants to trade the D-chart timeframe, you need to start doing your Big Picture planning.
Do your Big Picture for these pairs:
AUDUSD
EURUSD
GBPUSD
EURJPY
AUDJPY

EURAUD
EURNZD
EURCAD

GBPAUD
GBPNZD
GBPCAD

EURGBP

These are the pairs I trade on D-chart.

You need to know where the MN and W1 price swing levels are and use them as support and resistance when we look at our D and H4 charts.

Setups are seen on D chart. We do not jump into the market using D candles. We wait for retracement entries.

Entries are taken on H4 chart.

If you have time during London session open till NY open, we can take entries on H1. Remember we want to get entry into the market with smaller initial SL and that will give use better trade position size.

We must check the Monthly candles and Weekly candles to form our trade bias.

...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #28,977
  • Jan 12, 2014 6:03am Jan 12, 2014 6:03am
Quoting emmanuel7788
EJ Monthly view: Look at EJ MN chart below. We dont see any historical price swings in 2009 to 2013. Look further back to 2006, there are two significant price swing levels which can come into play. 2006 is too far back some may say. So next week 03 onwards, what shall we use for support and resistance? anyone like to share? {image}
I don't trade with MT4, use another ECN Platform, but pulling up a quick 4hr chart, how about a HS with support as indicated. I scalp lower t/f's that is why I don't post much and deviate from the TMS 4hr method and teaching.
Attached Image (click to enlarge)
Click to Enlarge Name: ScreenHunter_01 Jan. 12 04.59.gif Size: 24 KB
Keep It Simple
  • #28,978
  • Jan 12, 2014 6:06am Jan 12, 2014 6:06am
Pls see attached chart & any one can tell me what this error.That error window always appear when change time frame as weekly/Monthly
Attached Image (click to enlarge)
Click to Enlarge Name: 2.png Size: 91 KB
Helanka
  • #28,979
  • Jan 12, 2014 6:13am Jan 12, 2014 6:13am
Quoting emmanuel7788
EJ Monthly view: Look at EJ MN chart below. We dont see any historical price swings in 2009 to 2013. Look further back to 2006, there are two significant price swing levels which can come into play. 2006 is too far back some may say. So next week 03 onwards, what shall we use for support and resistance? anyone like to share? {image}
Hi Emmanuel,

For my money the EJ looks to be in a period of consolidation at present.

I wouldn't personally be interested in a trade until I saw some sort of breakout from either the 144 or 140.5 levels to give me a clue in what direction the price is likely to go.

Some patience will hopefully pay off once the breakout has been identified and an appropriate signal is generated as a result...I guess we'll have to wait and see for now....your take on how you see it though would be much appreciated cheers - LL
  • #28,980
  • Jan 12, 2014 6:14am Jan 12, 2014 6:14am
Quoting Helanka
Pls see attached chart & any one can tell me what this error.That error window always appear when change time frame as weekly/Monthly {image}

It is likely to be the yesterday high/low indicator as yesterday is meaningless in the context of one week or one month.
Remove the indicator one by one until you no longer get the error. Then you will know which indicator causes the error message.
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