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Monitor for 'Trading Made Simple' system 565 replies

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

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Trading Made Simple

  • #31,561
  • Feb 28, 2014 10:47pm Feb 28, 2014 10:47pm
Hi all... i am new to forex and found this method simple and easy to understand. I currently face a problem. When i downloaded the indicators in the page2 post no 25 and put inside the MT4 platform, i cant load these in my custom indicators. I did a quick check and understand that this could be because of the new mt4 610 base build. I am just starting out with this method. So i am still in early pages of this thread. I want to work from thread 1 and understand this system fully.
I am requesting if any one has indicators and templates(for tms method) which can work with the latest mt4 base build kindly provide them or point me to the post from where i can download them. hope you can help me out. I appreciate the time taken to read my post.. thanks.
  • #31,562
  • Feb 28, 2014 11:28pm Feb 28, 2014 11:28pm
Quoting Imi
{quote} there was also divergence, I very much favour these kind of setups when PA makes HH, and TDI either double top( like here), or makes LL creating divergence {image}
Absolutely right....I like those set ups, as well but in this case I missed the divergence.....nice catch.
  • #31,563
  • Feb 28, 2014 11:30pm Feb 28, 2014 11:30pm
Hi all.. please ignore my above post. i figured out how to upload the indi's in the new build.. sorry my bad.. i should have tried harder to figure otu by myself before posting here... sorry guys.. i will read the posts from the start and will post any doubts i have regarding trading the TMS method... cheers...
  • #31,564
  • Feb 28, 2014 11:33pm Feb 28, 2014 11:33pm
Quoting WDays
{quote} Do you now enter trades based on m15? The first trade has a line at 04:45, which leads me to believe you have dropped to a lower timeframe for an entry near the channel extremity. Only asking because this trade and most recent trades don't look like your usual trades from a few months ago. TDI only crosses on M15 and lower on most of these trades.
WD.....you are paying attention. Yes, the first trade was entered on the M15 because it was the first trade of the week and price action was a little slow. All the rest are H1 entries. Most of the entries are my normal London session entries, only with the channels used as target, so some trades stay active much longer. I am also taking secondary trades when price pulls back and targeting the same TP.
  • #31,565
  • Feb 28, 2014 11:37pm Feb 28, 2014 11:37pm
Quoting Nidolap
{quote} Hi Phx62, it has been a great journey to read all your posts. Just one question, this week you'd showed us EURAUD, why was it? You trade quite a few, why choosing this one? thanks for all your help.
What works for me is to concentrate on 1 or 2 pairs at a time. At the beginning of each week, I check ADR for all the pairs I have on my platform and usually pick the one that has the highest ADR. Last weekend, none of the pairs had very good ADR but EUR/AUD has often had the highest ADR or close to it for the past couple of months. For that reason, I stayed with that pair.
  • #31,566
  • Mar 1, 2014 2:31am Mar 1, 2014 2:31am
Quoting Phx62
Another good week using TMS principles while continuing to test using channels for profit targets. Entered the week using the gray channel as a guide until it was broken following the 73 pip trade. Price formed a new channel (blue) that was good until today when price broke the center line of the channel. Next week if price reverses at the top channel line, it could make for some good targets going short. First trade of the week was entered a little early based on the PCRF at the top of the gray channel center line. Made a second entry when price...
Dear PHX62:
I have been reading your post for long time and benefit a lot,thank you,there is one thing puzzle me，I try to dupilicate your method but some time it not work for me,I think there is some thing i missing,for example,I notice you trade a lot double top and bottom,this is a great mode and it happened a lot,but for me the succesful rate is not high,can your explain this mode and how to trade accuratelly,plz forgive me english,it not my Mother tongue。
for me double top/bottom have two mode,swing high/low or range time,Because you also trade this two mode, can your explain in this two situation,I will try to upload two failed mode。
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  • #31,567
  • Mar 1, 2014 4:18am Mar 1, 2014 4:18am
Hi Phx. I'm still a bit curious about entering a pull back mid candle. For example the price is pulling back from a trend line. Would you wait until it travels a certain amount of pips before you enter? Or would you wait for TDI cross in real time?
Everything you can imagine, is real - Pablo Picasso
  • #31,568
  • Mar 1, 2014 4:21am Mar 1, 2014 4:21am
Quoting Direwolf
I took GU pull back bar on the break of previous candle. Now I'm curious if I should close it before news hit in 5 minutes or so...? {image}
Direwolf,

Would you mind sharing your cTrader indicators? I have been looking for an average range indicator like the one in this image, and your TDI appears to be far less choppy than the copy I have. I looked through the paperclip to find any .Algo files and did not see any. And before I forget, do you use HA bars? Or have you found a suitable APB to use? I have tried (thus far) unsuccessfully to modify the code to approximate the APB.
War. Is my profession.
  • #31,569
  • Mar 1, 2014 5:05am Mar 1, 2014 5:05am
Quoting emmanuel7788
{quote} Could please let me know your entry rules in detail. It will helpful if you can explain in detail with charts. Answer: Read all the 463 posts by our late OP eelfranz aka Big E and also you can download some of the pdfs of his posts and comments. Use the forum paperclip function, see pic below. Post #261 is very important and you must read again and again. {image} Q1) How long it took to reach the success rate? Answer: It is not about time to reach success rate. Success is neither a target objective nor a destination in a trading journey....

Emmanuel,

See the image and give your suggestions. I attached the image but want to view it when scroll this page. How I should do that?

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  • #31,570
  • Edited 5:23am Mar 1, 2014 5:11am | Edited 5:23am
Quoting Phx62
{quote} WD.....you are paying attention. Yes, the first trade was entered on the M15 because it was the first trade of the week and price action was a little slow. All the rest are H1 entries. Most of the entries are my normal London session entries, only with the channels used as target, so some trades stay active much longer. I am also taking secondary trades when price pulls back and targeting the same TP.
But it's not just that first trade. The long that you took on 26.02 at 19:00 precedes the TDI cross, but on M15, PA and TDI signaled a long entry at 19:30. The LO trade on the 27th is most likely taken because it has a higher probability to bounce than to break the heartline (TDI hadn't crossed yet, just that APB changed color). Same for the 28th, when you went long prior to the TDI cross, it was because price bounced off the channel again, right? Not so much because it was a great TMS entry.

Quoting Phx62
{quote} What works for me is to concentrate on 1 or 2 pairs at a time. At the beginning of each week, I check ADR for all the pairs I have on my platform and usually pick the one that has the highest ADR. Last weekend, none of the pairs had very good ADR but EUR/AUD has often had the highest ADR or close to it for the past couple of months. For that reason, I stayed with that pair.
IMO a high ADR means nothing if the pair is close to consolidation, I was lured in on GJ, traded it a few times while it was a complete mess. H4 was very flat, D1 had long wicks everywhere. ADR still showed >150, but the market was just too choppy and untradeable almost all week.
  • #31,571
  • Mar 1, 2014 5:48am Mar 1, 2014 5:48am
2 trade
eur usd , usd chf

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  • #31,572
  • Mar 1, 2014 6:03am Mar 1, 2014 6:03am
I am new to this thread, i want to ask about candlestick pattern.I am doing demo in forex4you and onada,candle size showing different size in same time.
which one can take for analyse candlestick pattern.Any exp trader can answer?

thanks
  • #31,573
  • Mar 1, 2014 7:49am Mar 1, 2014 7:49am
Quoting thomi
2 trade eur usd , usd chf {image} {image}
See chart and explain my query
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  • #31,574
  • Mar 1, 2014 8:16am Mar 1, 2014 8:16am
Hello everybody,

really great thread that eelfranz has started and also great posts.

I took a trade that went wrong and I would be very thankful if someone could tell me if this trade had a correct setup.


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  • #31,575
  • Mar 1, 2014 9:08am Mar 1, 2014 9:08am
Quoting mci
Hello everybody, really great thread that eelfranz has started and also great posts. I took a trade that went wrong and I would be very thankful if someone could tell me if this trade had a correct setup. {image}
Sorry I deleted my post.
I thought you took a long trade in an area that has had Resistance. Having said that, I can see previously Resistance did become Support .... so in this instance the Bulls won. Its just a tricky area.
.... laughing all the way to the bank
  • #31,576
  • Mar 1, 2014 12:17pm Mar 1, 2014 12:17pm
@mci.

That candle was testing a very big round number 0.8200. You need to be aware that when price is testing these levels, sometimes it can break through before it pull back. Generally speaking a bounce off these levels would be much easier to pick than a break through.

Pepperstone gives me this pin bar which I think should be the same one you took. It's clearly a signal to go long.

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Everything you can imagine, is real - Pablo Picasso
  • #31,577
  • Mar 1, 2014 1:04pm Mar 1, 2014 1:04pm
Great, thank you very much. Now it's clear to me.
  • #31,578
  • Mar 1, 2014 4:15pm Mar 1, 2014 4:15pm
Quoting WDays
{quote} But it's not just that first trade. The long that you took on 26.02 at 19:00 precedes the TDI cross, but on M15, PA and TDI signaled a long entry at 19:30. The LO trade on the 27th is most likely taken because it has a higher probability to bounce than to break the heartline (TDI hadn't crossed yet, just that APB changed color). Same for the 28th, when you went long prior to the TDI cross, it was because price bounced off the channel again, right? Not so much because it was a great TMS entry. {quote} IMO a high ADR means nothing...
One of my concerns in experimenting with channel trades as an additional tool for TMS trading and posting those charts on this thread, is that there would be some confusion about the basics of TMS trading. I did not want that to happen but I am seeing that it is beginning. I am going to continue my testing of channel trades with TMS as the basic system, since my entire trading plan is built on TMS, but to avoid confusion, I will not be posting anymore charts or explanations. I have posted enough charts with details for anyone to see that the Trading Made Simple system is profitable and successful when properly applied. I will check in occasionally to see how things are going on the thread and perhaps try to help traders trying to learn the system.
WD....I know you have read many of my recent posts where I use candle patterns and especially pullback candle reversal formations to enter trades. The two trades you mentioned are examples of those entries with pullback candles to confirm that price was reversing. I did not wait for the PCRF to complete or the TDI green over red confirmation for entry but in both cases, the green TDI line was turning and moving up and I had additional confirmation of price bouncing off channel lines. In both cases, price reached the targets, which is what I am testing. As I stated before, all but the first trade of the week were entered and monitored on the H1 time frame.
Success to each of you in your efforts to become profitable traders. It can be done!! I know because forex trading is building me a nice retirement nest egg.
  • #31,579
  • Mar 1, 2014 8:08pm Mar 1, 2014 8:08pm
Quoting Phx62
{quote} One of my concerns in experimenting with channel trades as an additional tool for TMS trading and posting those charts on this thread, is that there would be some confusion about the basics of TMS trading. I did not want that to happen but I am seeing that it is beginning. I am going to continue my testing of channel trades with TMS as the basic system, since my entire trading plan is built on TMS, but to avoid confusion, I will not be posting anymore charts or explanations. I have posted enough charts with details for anyone to see that...
I didn't intend to drive you away with my posts. I am sorry if it came out that way, it's just a way I would justify an entry at those places. I believe you have said it yourself, that a PCRF with no TDI cross is not valid and just may end up going sideways instead of the opposite direction. I may be wrong on that, I personally diverted my trading from the "classic" TMS as traded by a lot of you in this thread, simply because it didn't work as well for me, as it apparently did for you. I use a lot of M15 and even M5 in my trading, which is why I said what I said previously. My approach, what I would have done, doesn't seem so far from what your end result is (would being the key word here, because I didn't). There's something else, if one truly spends a lot of time watching charts, it's easier to preempt setups. Rules are meant to be broken, right? And if you say it's an H1 trade, it most likely was. Any trader that manages over 500 pips in the choppiest of markets for two weeks in a row is to be respected imo.
  • #31,580
  • Edited Mar 2, 2014 12:30am Mar 1, 2014 8:34pm | Edited Mar 2, 2014 12:30am
I can't say anything else but Thank you Phx. I would beg you to please stay with us and show us your trade as they are not only great learning material but a great inspiration as well. But either way I will respect your decision .
Everything you can imagine, is real - Pablo Picasso
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