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Trading Made Simple

  • #31,361
  • Feb 23, 2014 1:23pm Feb 23, 2014 1:23pm
Quoting forexpiet
Well, I stopped simulating. Maybe I am doing something terribly wrong, but I can not get positive results. I will see what to do about it.
Hi forexpiet,

I see you'r relatively new to contributing to the TMS thread...welcome! Firstly, have you gone through the entire thread- Have you read the PDFs on BigE, PHX62 and Emmanuel? Your simulating seems to be getting you frustrated...have you back-tested your system yet?

I know I am not alone in saying this here, but I can't stress the importance of having a plan when trading TMS...have you asked your self some of the following questions?

 

  1. What are you objectives?
  2. What are your goals
  3. Have you documented your strategy?

    1. Have you chosen a timeframe
    2. what pairs do you trade?
    3. What is your money-management strategy?
    4. Do you conduct BPP and if so how would you do this?
    5. What is your daily routine?
    6. what is your End of week/month/year routine?
    7. What are your trade types (With the trend, Counter trend, trend consolidation)?
    8. What markets do you trade in and how do you recognise/define them (hint: these are the three market types)?
    9. Have you got a plan for your trade entries?
    10. Do you look for certain types of PA?
    11. Do you look at S/R?
    12. Do you look for confluence to your trades?
    13. Have you got a plan for your exits?


We all must do the work to succeed...

Regards,

Erol

  • #31,362
  • Feb 23, 2014 2:28pm Feb 23, 2014 2:28pm
Quoting emmanuel7788
USDJPY week 09 Big Picture Planning: See attached pdf. All planning notes and commente written on the charts. We may see an early sell entry on H4 but that is early as the D chart has not shown any bearish move. Watch the PA and those Historical swing levels closely. Price can move around these levels 50 to 100 pips. This is good enough for intraday H1 trading. After the G20 meeting closed today, anything can happen and things can change when NY opens on Sunday afternoon. Read the reports on what transpired and then wait for Tokyo open. Then we...

Ty try for the big picture planning this week! Shows me wat I should be looking for as I start to do this on my own.
He who knows when he can fight and when he cannot, will be victorious.
  • #31,363
  • Feb 23, 2014 2:42pm Feb 23, 2014 2:42pm
Quoting Erol
{quote} Welcome Bullet, Emmanuel has already touched on this a few posts back, check it out.... {quote} the below is a post from August last year and should help a little.... "The TMS entry and exit rules are simple and very easy to learn and to follow (part of your trading strategy). The pre-requirements to trading is the preparation work and planning. Doing the prep work and having a trade plan is important because that helps us to look for chart conditions and the opportunities to get into the market (part of your trading system)."post: # 20085...
Hi Erol,

I appreciate you taking the time to reply and highlight some of the important posts. I am making my way through the thread, its going to take a while at over 31k posts!

I have been through other long threads before J16 for example, and been trading on and off for 6 years but never really committed fully due to the day job commute etc. I now am in a position to do that as I work for myself out of my home now. This method appeals to me as the core is simple, I shall continue on.

Thanks again
  • #31,364
  • Feb 23, 2014 3:09pm Feb 23, 2014 3:09pm
Will look for shorts on my 4h TMS this week.
Attached Image
I am not random, U just can't think as fast as me....
  • #31,365
  • Feb 23, 2014 3:34pm Feb 23, 2014 3:34pm
Quoting Bullet
I have been reading through the start of the thread and it seems a very simple method of trading (single timeframe one main indicator etc), however looking at some of the recent posts it seems folks have all manner of indicators, lines and multi timeframe analysis. I accept is isn't a 100% mechanical method and one must watch for S/R and price action but can still be called Trading Made Easy with all this new stuff?
Big E, who started the thread was a very experienced trader who had been through the wars, with studying charts, attending courses, and online tutorials for years.

What might be easy to an experienced trader who can assimilate a chart from a glance, whereas as a newbie might need to some additional props.

Supply & Demand, Support/Resistance are key IMO along with market exhaustion, and realistic targets with regard to daily range of a currency pair.

1. Establish support/resistance and/or supply and demand
2. Price action (pin bars, kangaroo tails, false breaks, engulfing candles, inside bars etc)
3. Stochastics overbought/oversold
4. TDI red over grean crossovers.
5. H/A colour change candle strategy, enter on confirmed signal candle or more aggressive if false break/pin bar reversal from confirmed support (supply and demand region, or moving average, or trend line.
6. Time of Day Asian open/close, Europe Open/Close NY Open/Close

Wouldn't entirely write off the asian session, though it depends of the currency pairs. There are some good moves during that session. Also if the pair has trended Asian/London it can reverse direction (retrace) on the London close.

EURUSD was a little constrained this week so the moves were not exactly stella but I've labelled a number of trades from S&D areas. Indeed I only discovered 'Tokyo channels' this week and was amazed how they lined up with support and resistance areas.
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  • #31,366
  • Feb 23, 2014 5:06pm Feb 23, 2014 5:06pm
For those trading USDJPY this trend line might be of interest. Green line is hooking back and stochs looking oversold on the hourly. Bit early to say though as market has only just opened.
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  • #31,367
  • Feb 24, 2014 1:40am Feb 24, 2014 1:40am
Hi traders.
Could someone with more experience please advise me on what the best tools to use are in addition to the TDI and which ones are unnecessary.
I am currently developing my strategy based on trading with the trend after pullbacks with TDI on 4hr as confirmation.
I'm currently taking into account trend, tdi, candle patterns, price patterns, S&R, ohlc to make my decisions.
What are others things I can learn to improve my trading without over-complicating the system?
pivot points? elliot wave? fibo?
I greatly appreciate any suggestions or advice anyone can give me.
Thanks,
Olly.
  • #31,368
  • Feb 24, 2014 2:45am Feb 24, 2014 2:45am
Quoting emmanuel7788
{quote} Hi nvied, Your are welcome. I was re-installing my MT4 in my VPS yesterady , a second time since build 600. This week it crashed after build 610 update but I found a few EAs caused some problems. This one I corrected and tested overnight and is working again. Please try it and feedback to me any suggestions which we can improve this. It will benefit more people and help with taking screen shots while ee are too busy looking for trade setups, etc. Regards, EMMANUEL
Hey,

So this works well.. I have some feedback on making it better but not sure how difficult it would but they are just little minor improvements, nothing major

- > Higher Resolution Captures
- > Capture all active charts - not sure if easy to do ?
- > Save each file as heirachy such as Folder (Currency) / Folder Date / File (easier to sort if you're following multiple currencies)

~nv
  • #31,369
  • Feb 24, 2014 5:04am Feb 24, 2014 5:04am
Quoting olly93
Hi traders. Could someone with more experience please advise me on what the best tools to use are in addition to the TDI and which ones are unnecessary. I am currently developing my strategy based on trading with the trend after pullbacks with TDI on 4hr as confirmation. I'm currently taking into account trend, tdi, candle patterns, price patterns, S&R, ohlc to make my decisions. What are others things I can learn to improve my trading without over-complicating the system? pivot points? elliot wave? fibo? I greatly appreciate any suggestions or...
Trendlines, channels (personally not too fond of EW, but mostly because I never spent enough time learning it), TehScorps uses harmonics (with fibos)...
  • #31,370
  • Feb 24, 2014 9:07am Feb 24, 2014 9:07am
Entered this trade earlier cadjpy saw an engulf candle in 4hrs and tdi pointing up also the ihr tdi also moving up entered for some pip bail out fast cos of the lot well pip som pips here +20
PICK SOME PIP ALSO IN USDCAD
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  • #31,371
  • Feb 24, 2014 11:47am Feb 24, 2014 11:47am
Hello,

One trade today because of beeing busy. My Problem here: I am to nervous.
This was a very nice breakout of daily MC. Could stay longer in it, but i was to nervous.

Best regards,

Fx94
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  • #31,372
  • Feb 24, 2014 1:01pm Feb 24, 2014 1:01pm
Quoting emmanuel7788
{quote} TheDDReport: You got your TP 2 at 102.87. Congrats! Thanks for your UJ post, that gave us all a good realtime chart study and tracking UJ on H1 today. Now we see the price structure and what the TDI shows us. The week close below 102.72, which is the last time buyers and sellers agreed on 12 May 2013. Looking at D, I do not see a reversal yet. Look at H4, still too early to say that is a reversal. Now on H1, we the the price structure L-H> HH -HL> HH-HL> ??? no LH LL seen yet, so we wait for thestructure change. {image} For your weekend...
Attached Image (click to enlarge)
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Hi,

Today, we see a new LL with the early Tokyo session push lower, remember I wrote in my Big Picture Picture not to chase after long candles, and now back to the the D' trend'.
We have to wait to see if we have a LH later. On H1 we see the MBL sloping downwards, and price consoldiates. Then a possible push down to a new low. Look at H4 for the setup.

Attached Image (click to enlarge)
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Trade Well.

EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #31,373
  • Feb 24, 2014 1:02pm Feb 24, 2014 1:02pm
Quoting Fx94
Hello, One trade today because of beeing busy. My Problem here: I am to nervous. This was a very nice breakout of daily MC. Could stay longer in it, but i was to nervous. Best regards, Fx94 {image} {image}
I forgot to write: There was also a double bottom at the MC and the breakout candel. It was a sign of support.
  • #31,374
  • Feb 24, 2014 1:12pm Feb 24, 2014 1:12pm
EURAUD week 09 H4 trade:

Here my 4H swing trade taken earlier and now managing exits.
Trade comments on chart posted below.
Attached Image (click to enlarge)
Click to Enlarge Name: EA H4 week 09 trade.png Size: 55 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #31,375
  • Feb 24, 2014 1:25pm Feb 24, 2014 1:25pm
Quoting Fx94
Hello, One trade today because of beeing busy. My Problem here: I am to nervous. This was a very nice breakout of daily MC. Could stay longer in it, but i was to nervous. Best regards, Fx94 {image} {image}

Fx94,

Good trade!

I see you have a Sunday candle and that was a Double Inside Bar seen on your D chart. That would be a Mother candle of a double IBs.

On H4 there is a H4 In breakout and a previous Master Candle . Both these are high probility setups as we see consolidation befor eht next big move.

Why feel nervous? In the event things go against you, there is your risk proteceted with initial SL in place.

Good Trading..

EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #31,376
  • Feb 24, 2014 1:49pm Feb 24, 2014 1:49pm
Quoting emmanuel7788
EURAUD week 09 H4 trade: Here my 4H swing trade taken earlier and now managing exits. Trade comments on chart posted below. {image}
what indicator are you using to draw your SL line and all those TP lines?
He who knows when he can fight and when he cannot, will be victorious.
  • #31,377
  • Feb 24, 2014 2:21pm Feb 24, 2014 2:21pm
Quoting Phx62
{quote} am using the Equidistant Channel found in the MT4 and then adding the centerline myself, after locating the necessary points. 4. The centerline must prove the channel by having price bounce or consolidate at that area.
Hi Phx62,

I have watch the video you posted thank you very much, will give it a try!

I have found a way to get the channel your looking for, you need to click on the Insert, Channels and the Fibonacci click it on your chart and then right click it and go to Fibo channel properties and then click fib level tab and have the setting below!!

then you will have the channel you want hope that help
Attached Image (click to enlarge)
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Give yourself a chance and trade it like it's layed out...
  • #31,378
  • Feb 24, 2014 2:28pm Feb 24, 2014 2:28pm
Quoting emmanuel7788
EURAUD week 09 H4 trade: Here my 4H swing trade taken earlier and now managing exits. Trade comments on chart posted below. {image}
Emmanuel, If your trying to draw the channel seen on the video it need to be at a 45% in your picture it looks to steep,

I don't trade this pair but took a look and think it should look like this:

I could be wrong but he said we should look for a 10-4 and 2-8!!

What do you think?

Your trade looks good to hold till the middle line he did say 80%!!
Attached Image (click to enlarge)
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Give yourself a chance and trade it like it's layed out...
  • #31,379
  • Feb 24, 2014 2:56pm Feb 24, 2014 2:56pm
Quoting Bizzzle
{quote} Emmanuel, If your trying to draw the channel seen on the video it need to be at a 45% in your picture it looks to steep, I don't trade this pair but took a look and think it should look like this: I could be wrong but he said we should look for a 10-4 and 2-8!! What do you think? Your trade looks good to hold till the middle line he did say 80%!! {image}
Hi Bizzle,

I found the video fascinating also, it seems very subjective here are my two attempts at the euraud D and 4H.

What do you think?

http://charts.mql5.com/3/988/euraud-...i-uk-ltd-2.png
http://charts.mql5.com/3/988/euraud-...i-uk-ltd-2.png

I like the idea the way phx62 is using as an aid to his already successful method. A way to stay in the trade longer and maybe add confluence to trading decision. I guess like everything back test back test back test, practice practice practice
  • #31,380
  • Feb 24, 2014 2:59pm Feb 24, 2014 2:59pm
Quoting emmanuel7788
EURAUD week 09 H4 trade: Here my 4H swing trade taken earlier and now managing exits. Trade comments on chart posted below. {image}
Nice trade Emmanuel
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