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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

  • #34,401
  • Mar 31, 2014 12:04pm Mar 31, 2014 12:04pm
Quoting as33156
{quote} 10am UK time is 5am my time so on 4hr charts I could only get in a 4am 4hr candle my time which would be 9am uk time. Now I know. Did you do these as hr1 chart trades? and thats how you got in at 10am uk time or does your broker 4hr chart fall on 10am uk time?
My brokers 4 hour candles open at 6am and 10am uk time and these are the ones I use...

Off out now so speak to you all tomo good luck
Give yourself a chance and trade it like it's layed out...
  • #34,402
  • Mar 31, 2014 12:17pm Mar 31, 2014 12:17pm
Quoting hugecat
{quote} Outstanding as usual, Bizzzle. But did you open 10am trades @ EURCPI Flash Estimate y/y news or minutes after the spikes settled down?
Sorry hugecat your talking bout the EN trade, I enter all my other trades and set stop-loss etc at 10am and then check EN, GN and GA last as they are not pairs I nominally trade. I just check my account history and I actully entered this trade at 10.10 am...

So your right I did enter that trade after the news!
Give yourself a chance and trade it like it's layed out...
  • #34,403
  • Mar 31, 2014 12:24pm Mar 31, 2014 12:24pm
Quoting Bizzzle
{quote} My brokers 4 hour candles open at 6am and 10am uk time and these are the ones I use... Off out now so speak to you all tomo good luck
Yes excellent trades Bizzzle. Do you use Alpari.

Just comparing charts. My 4hr charts open at 4am and 8am.
  • #34,404
  • Mar 31, 2014 12:37pm Mar 31, 2014 12:37pm
Quoting MrAussieFX
{quote} Thanks as33156, I am in "less is more" phase from this week forward and keeping myself out of getting into what I feel is a best trade setup rather I am going with what market shows, what my PA is showing, my indicators are shouting and learning and implementing the same. AND of course what BIGEMM and other senior members like yourself teaches us everyday. My EJ H1 asian strategy just hit my partial profit 1 of 30 pips(at 40% of my EJ trade money) and partial profit 2 of 50 pips (at 30% of my EJ trade money) and rest 30% is still in the...
I am attaching a set file in which your rest of 30 percent position will be trailed after 50 pips by the previous candle high or low. All other settings are the same as you are already using.

Good luck

Attached File(s)
File Type: rar fxtp.rar   1 KB | 424 downloads
I am not random, U just can't think as fast as me....
  • #34,405
  • Mar 31, 2014 12:45pm Mar 31, 2014 12:45pm
Quoting Bizzzle
{quote} Sorry hugecat your talking bout the EN trade, I enter all my other trades and set stop-loss etc at 10am and then check EN, GN and GA last as they are not pairs I nominally trade. I just check my account history and I actully entered this trade at 10.10 am... So your right I did enter that trade after the news!
Bizzzle, Thank you for clearing that out! Good luck tomorrow!
Those who know don't talk. Those who talk don't know.
  • #34,406
  • Mar 31, 2014 1:35pm Mar 31, 2014 1:35pm
Hi All
This divergence indicator is very good for giving a trade signal
Have a look at my charts.
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[a
Attached File(s)
File Type: mq4 FX5_Divergence_V2.1.mq4   11 KB | 523 downloads
ttach]1396834[/attach]
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  • #34,407
  • Mar 31, 2014 2:43pm Mar 31, 2014 2:43pm
Two trades today on EA H1....one loser and one winner. A new channel is forming so neither of the trades were taken with profit targets at channel lines.
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  • #34,408
  • Mar 31, 2014 2:44pm Mar 31, 2014 2:44pm
Quoting redfan
Hi All This divergence indicator is very good for giving a trade signal Have a look at my charts.{image}[a{file}ttach]1396834[/attach]{image}{image} {image}
Awesome RedFan thanks!


I hope RedFan doesn't stand for Liverpool fan
MAY THE PIPS BE WITH YOU!
  • #34,409
  • Mar 31, 2014 3:26pm Mar 31, 2014 3:26pm
Quoting mike1349
{quote} 0 to 5 wold be 6 candles.If we are looking for first 5 hours then shouldn't be 0 to 4? {image}

Hi Mike,

Yes, counting from 0 to 4 make 5 candles.
This shows you have devloped your eyes for details. ...

Candle 6 is the trigger candle. for dynamic candle entry. i.e. not waiting for candle to close.

Now if you go back to my post, why did I ony pick EJ and GJ for TOK_5H beakout trading?


regards,

EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #34,410
  • Mar 31, 2014 3:37pm Mar 31, 2014 3:37pm
Quoting Phx62
Two trades today on EA H1....one loser and one winner. A new channel is forming so neither of the trades were taken with profit targets at channel lines.{image}

Phx62,

Both were good trades with valid setups.
Trade 1 despite being a 21pips loser, that setup was good but today' news created a lot of noise in lower timframe.
Trade 2 a classic PCRF reversal .

Thanks for sharing your trades.

Regards,

EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #34,411
  • Mar 31, 2014 3:48pm Mar 31, 2014 3:48pm
Quoting donbeto
{quote} Emmanuel, Does this apply to any pair? Thanks! Alberto
Hi Alberto,

I trade mainly AU, AJ, EU, EJ and GU using this TOK_5H breakout.
But it can be used also for other pairs but you must know the average daily range and to pick a range suitable for identifying that quiet period of a market session and trade then breakout when liquidity returns to the market.

The other thing you need to know is that I use R-Multiple for such trades. R is the initial risk of the trade, and this is usually the range of the 5H high-low plus, and profit is in multiples of that R. using a multi-lots entry and exits will improve the overall results for intraday trading.

In case you are looking at the EURxxx and GBPxxx Cross pairs, you must consider the much wider trading range of these pairs.

regards,

EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #34,412
  • Mar 31, 2014 3:51pm Mar 31, 2014 3:51pm
Quoting hostwey
{quote} Oh how convenient, stops taken out either side of Asian session. (EURUSD).

when the three amigos ride in the same direction, this is what happens as the smart money calls the shorts using the news factor.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #34,413
  • Mar 31, 2014 3:58pm Mar 31, 2014 3:58pm
Quoting gsbharaj
most of the Japanese pairs are way overbought. we will see retracement coming soon

yes, all the OverBought OB and OverSold OS in the oscillators like RSI, TDI, ... are timeframe related to its respective market volatility.

an OB after a rally in one timeframe can results in a correction or price pull back in the higher timeframe.

know the market type , identfy them early and plan your trades well.

know when to use Plan, Build and Run.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #34,414
  • Mar 31, 2014 4:04pm Mar 31, 2014 4:04pm
Quoting MartC
{quote} Hey...just a quick question...does 'BUY when green above red amd above yellow, SELL when green below red, below yellow, use the PAC and look at the candles and their size' work for higher timeframes too? What would be the ideal TDI signals for the H4 - D? Thanks
As previously mentioned in the thread:

For a Buy: Green over Red over Yellow (with green pointing towards 2 o'clock and not "fighting" the slope of yellow)
For a Sell: Green under Red under Yellow (with green pointing towards 5 o'clock and not "fighting" slope of yellow")

Attached Image
  • #34,415
  • Edited 5:03pm Mar 31, 2014 4:10pm | Edited 5:03pm
Quoting I-trade
Hi, I just wanted to say hello and thanks for this thread. These last days/weeks, I went through a lot of pages of this thread. I really like the spirit of keeping trading simple. For the time being, I am comfortable with the TOK 5 trading and more generally day trading. What I want to achieve now is to move slowly to swing trading. The strategy TMS-II looks great and so I am going to spend some time on it this next days/weeks. Emmanuel, I can note from your charts that you are using a weekly average range indicator with 60% average lines to define...

Hi I-trade,

You won't find the weekly range indicator in this thread. It is a tool I use to show and explain how to set target profit for 4H weekly swing trades.

There are different ways how different traders read momentum. I look at the price candlesticks ( not the APB or HA) and the three moving average lines of the RSI what is called the TDi Green, Red and Yellow. I come from the old school traders who started with Fozzzy RSI trading many years ago.

ADX is good, once you know how ADX is program coded and what it shows you in relation to your price chart, you must know its characteristics and master using it.
The same for the RSi which the TDi is based on. You can use one or the other, and never both to make trade decision.

Regards,

EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #34,416
  • Edited 5:03pm Mar 31, 2014 4:22pm | Edited 5:03pm
Quoting blamshakk
mt2 nice trade i have a question have you taken the excel course on Rick's website? right now im struggling with consistent trading and am looking for a decent course blam {quote}

I have not taken the excel course but I hear a few good comments about it.

But, if you are struggling with consistency, then it is a specific 'problem' (if I may use this term) and you need to find the reasons for your inconsistent results.

I had said it before;

1) work on your entry and exits rules, define them clearly.... must be simple and smart rules.

2) work on your own discipline in following your own rules in 1) above.... execution is key.

I am quite sure it wil put you in the right direction..... transformation.

When you want to spend money on forex trading courses, make sure you know enough so that you will be asking all the right questions during the course and that will make your money worth.

Why not post your charts here and I will spend time look at them and help you before you decide on taking the excel course now.

regards,

EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #34,417
  • Mar 31, 2014 4:26pm Mar 31, 2014 4:26pm
Quoting Phx62
Two trades today on EA H1....one loser and one winner. A new channel is forming so neither of the trades were taken with profit targets at channel lines.{image}
Hi Phx62

simply you are the great and inspiring me. A a lot of practice and follow a proper process can make a successful trader.

In my opinion first trade was in loss because of news otherwise it was a prefect setup. i entered after the news and locked 28 pips .
I am new and reading all your post .

Please keep inspiring all of us ...........

Thanks

MK
  • #34,418
  • Mar 31, 2014 4:29pm Mar 31, 2014 4:29pm
Quoting MrAussieFX
{quote} Thanks as33156, I am in "less is more" phase from this week forward and keeping myself out of getting into what I feel is a best trade setup rather I am going with what market shows, what my PA is showing, my indicators are shouting and learning and implementing the same. ...

Yes, that is the right direction.

Less is More means we take only those A+++ setups.
No need to overtrade with several pairs at the same time and be over exposed in the market.
Know when to trade with Plan, Build and Run. Using this approach, trading can be relaxing and less stress.
Utilise our trading capital wisely and effectively, make our hardearned money work for us and you will never have to work hard again.
instead we should be working smart and use SMART objectives.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #34,419
  • Mar 31, 2014 4:41pm Mar 31, 2014 4:41pm
Quoting nsscott
Here is my first week stats trading TMS (DEMO) 16 Trades (Used D1, H4, and H1) for entries 9 losers 4 BE 3 winners Net pips (after spreads) +87.6 I made up all my missteps with one trade Short USDCAD off the D1 which I held from Tue 1510GMT till 1447GMT Friday (169.4pips) I think less is more. 2 other trades were D1. One BE One -36 Comments/Critiques welcome and requested... Thanks! Scott

Hi nsscott,

Yes, defintely agree with you: Less is More.

Quite good trade results you got.

Learn for your losers and winners. Use the lessons learned and then turn those losers to winners. You will be on track to the light at the end of the tunnel.

Next time, please post some charts along with your trades, others here can give heir comments and we all learn from one another.

regards,

EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #34,420
  • Mar 31, 2014 4:42pm Mar 31, 2014 4:42pm
AUDJPY update: Yea...it's on a tear! Raised TP to 96.84, raised S/L to 94.90; +321 pips of profit protected; targeting old Daily support level. Trusting the PAC!

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Here's a TKC H5 trade I took early this morning on the EURJPY:

Entered Buy with 4 lots @ 141.57 and as each target was hit took 1 lot profit and moved S/L to the nearest level below price (barely survived the CPI news by 1.3 pips!!!!). TP 1: +23, TP 2: +46; TP 3: +70 and TP 4: 92...total for trade: 228 pips

The 34 pips TKC narrowed to just 18 pips a few hours prior to London open and my thinking was to trust the M15 TDI cross entry @1015 (FXDD). I originally was thinking the market would progress to the Stop Hunt region from 141.77 to 142.02 (Craig Harris' 25-50 pip area above and below TKC), but 30 minutes prior to CPI news I was in risk free positions so after news I was happy to watch PA surf the top of the PAC. It worked out pretty well. Also note that at entry, the blue TDI volatility bands had been broken by the TDI line...normally a good sign.

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