Trading Made Simple | Page 1742 | 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

  • #34,821
  • Edited 2:33pm Apr 5, 2014 12:12pm | Edited 2:33pm
Quoting fxFox.mb
{quote} Analyzing your chart as usual I have a question again. Comparing the two situations on 3/31 and 4/1 NY session. These two look similar with small deviations, regarding the 2-3 blue APBs before the red and a little smaller slope on TDI PL to the downside. You took the first (profitable) trade, but not the second. => Simple question - why not? (I think I had taken this when price went 1,5 pips below the prev. red candle) fxfox {image}
fxFox-

Try putting the entries side-by-side for study purposes. The 3/31/1700 Sell had a number of reinforcing technical positives: PA closed below uptrend line, PA closed below PAC, TDI (green) closed below MBL (this generates the Sell arrow on my chart (programmable)) which is normally dependable; the slope of the TDI line is -60 degrees (5 o'clock) and the move resumes the previous down trend.

The 4/1/1900 entry shows PA still inside the PAC; PA did not close below up-trend line, TDI is still above MBL (because of this there is no Sell arrow on the HA chart) and the slope of the TDI line is -30 degrees (4 o'clock).

Attached Image (click to enlarge)
Click to Enlarge Name: ScreenHunter_03 05-Apr 09.59.jpg Size: 161 KB


Sixteen hours later, 4/2/1100, the entry is very nice and runs for +45 pips MFE.

Attached Image


You may want to experiment using the "Trendline by Angle" tool in MetaTrader to measure the slope of the TDI line. When back testing, I would recommend doing this with your chart in real time (entry signal on the far right side of the chart so you won't be swayed by what your eye/brain knows is coming). The picture below shows the tool as you put it on a chart, just slew it to the current TDI line and it will measure the slope (in degrees) from horizontal.

The trend line placed on the TDI is sloping exactly to 5 o'clock (60 degrees from horizontal). You can compare the slope of TDI in box 1 with that of box 2 and recognize the earlier TDI signal is much more valid with respect to TDI pointing to recommended clock positions.

If you wish, you can clone a previously placed Trendline by Angle tool by double clicking it, holding down the Ctrl key, left click and hold on the center block of the trendline, and dragging it to your new position. Or you can just drag the one you have. I normally have a 5 o'clock one and a 1 o'clock one on my TDI Indicator to be used if I feel the need. However, your eye will soon develop the ability to make this judgment without this angle indicator.

Attached Image (click to enlarge)
Click to Enlarge Name: ScreenHunter_06 05-Apr 12.23.jpg Size: 196 KB
  • #34,822
  • Edited 1:18pm Apr 5, 2014 12:22pm | Edited 1:18pm
Quoting emmanuel7788
{quote} Hi DesiBaba et ALL, There is no available pdf or tutorial on this TOK_5H breakout. I have posted many of these trades in the past and the method look easy enough to follow. However, since you asked, i spend some time today and made a fist draft of the description. Note: the Tokyo first 5 hours start at GMT0000 to GMT0400 and not NY close. {image} The attached indicator I modified to show the TOK_5H high -low and the pdf attached below. Please let me know if there are any questions and how I can improve the pdf description. Kind regards,...

Hey Emmanuel

I noticed something about the indicator you uploaded.

For me, the tokyo session starts at 5 pm which is 3 hours after ny close (which is 2 pm for me) On my chart the 00.00 candle is the first candle after the ny close. I noticed that the indicator started from that candle even tho that is the sydney open. So for me, the 3.00 candle would be the logical Tokyo open. Since 00.00 is the first candle after NY close which is 2 pm my time. and tokyo starts at 5pm my time. the 3.00 candle has to be it right?

Therefore I will change the inputs on the indicator so it starts at tokyo session for me so starting input will be 3 . What do you think my close input should be? Should it be 7 or 8? For me it looks as 8 works because it takes into account the 5th candle close. So with 3 and 8 settings it looks at 5 candle range which are the first 5 in tokyo

Does this make sense or am I messing it up?

In addition, what time do we look at the ATR avg? Do we look at it after the five tokyo hours have occurred?
Lets Make Some Money
  • #34,823
  • Apr 5, 2014 2:25pm Apr 5, 2014 2:25pm
Quoting fxFox.mb
{quote} Thanks Phx62 for your support with your new trades. I was concentrating this week on EURJPY, followed the EURAUD only on the side. Analyzing your chart as usual I have a question again. Please excuse me for assembling your chart a little for my question - to get a better view on situation - my question goes on. Comparing the two situations on 3/31 and 4/1 NY session. These two look similar with small deviations, regarding the 2-3 blue APBs before the red and a little smaller slope on TDI PL to the downside. You took the first (profitable)...
Simple answer.....my 1st London trade failed, so I took a nap and set my alarm to get up for the NY session. I saw an entry and made trade 1. On the second trade, I got a signal at LO and entered a trade and exited on a pullback. Once price moves 60+ pips in one direction, it will usually consolidate and range for a couple of hours, or more, before making another run. In this case, it ranged for a long while.
  • #34,824
  • Edited 2:48pm Apr 5, 2014 2:31pm | Edited 2:48pm
Phx62

Is my Assian Session indicator set correctly, I am at GMT +2 my local time zone, and using FXDD?

I tried to compare my chart to yours , and I find there's slightly differ pip range within 5 pips in the Assian Session range that the indi shows

My internet is so slow , am having a trouble even uploading some kb snapshop, I will upload later
Attached Image (click to enlarge)
Click to Enlarge Name: 1.jpg Size: 359 KB
I Have Learned to Take Some Losses to Make Profits
  • #34,825
  • Apr 5, 2014 3:30pm Apr 5, 2014 3:30pm
Quoting Mark up
{quote} Lastingwell, Having just lost my dad, my mother in law and one other family member I can understand how you are feeling and what you are going through. Its not a good time at all. Just hold onto the faith. My thoughts are with you and your family. Regards Mark up.
Quoting brandy711
{quote} Very soory about your Dad,keep heads up,everythin will come to place.. stay well....
Thank you both, (and everyone else that has sent me private messages) for your kind words and Mark up, so sorry for your losses. Its not easy, but we will get through it, especially with so many lovely messages from people, thank you.
  • #34,826
  • Apr 5, 2014 4:04pm Apr 5, 2014 4:04pm
Quoting Phx62
This weeks trades on EA H1. Mostly London Open trades.{image}
Nice trades...could you please give me more insight to the break out box...how do you use it to establish or take trade...does it act as support and resistance.
  • #34,827
  • Apr 5, 2014 5:02pm Apr 5, 2014 5:02pm
Happy Weekend Everyone!

It's outstanding that guys like Phx62, Emmanuel, and Zoopots continue to post their charts and analysis. I like having the ability to peak under the hood and expand upon my knowledge base. It's vital for us to continue to learn as much as we can because knowledge is power and ego is often the enemy of man.

With everyone in the thread looking to make every trade a success how can we not succeed? With 3 weeks of amazing pips I thought I knew a lot. 2 weeks of humbling crappy profits for me then lead me to reeducate myself and read through 500 pages in about 20 hours to seek answers. I also re-read the manuals and discovered I missed a vital piece to the puzzle.

I started the week losing -86 pips on Monday. I went back to studying for a few days and ended the week up 120 pips on pure TMS trades. We must also continue to go back and drink of this wellspring we have here.

Knowledge is POWER!

Once again thanks to Big E and all the others who have put so much of their time into the Nobel cause of helping each other succeed!
MAY THE PIPS BE WITH YOU!
  • #34,828
  • Apr 5, 2014 5:45pm Apr 5, 2014 5:45pm
Quoting as33156
Happy Weekend Everyone! It's outstanding that guys like Phx62, Emmanuel, and Zoopots continue to post their charts and analysis. I like having the ability to peak under the hood and expand upon my knowledge base. It's vital for us to continue to learn as much as we can because knowledge is power and ego is often the enemy of man. With everyone in the thread looking to make every trade a success how can we not succeed? With 3 weeks of amazing pips I thought I knew a lot. 2 weeks of humbling crappy profits for me then lead me to reeducate myself and...
I agree with you

I can trade daily candles well and thought there couldn't be anything as easy as that

I came across TMS and like the fact I can look at 4h charts only 3 times a day and i have incorporated that into my trading

Now I will also start the tok 5 method.

I know trading 3 'styles' is tough. But I think it can work because they all work at different times.
Lets Make Some Money
  • #34,829
  • Apr 5, 2014 9:41pm Apr 5, 2014 9:41pm
Quoting as33156
Happy Weekend Everyone! It's outstanding that guys like Phx62, Emmanuel, and Zoopots continue to post their charts and analysis. I like having the ability to peak under the hood and expand upon my knowledge base. It's vital for us to continue to learn as much as we can because knowledge is power and ego is often the enemy of man. With everyone in the thread looking to make every trade a success how can we not succeed? With 3 weeks of amazing pips I thought I knew a lot. 2 weeks of humbling crappy profits for me then lead me to reeducate myself and...
Then we are back on the right track and from day on, those 2 awesome week that you got since you joined TMS will come with time
I Have Learned to Take Some Losses to Make Profits
  • #34,830
  • Apr 5, 2014 9:46pm Apr 5, 2014 9:46pm
Quoting TheScorpS
{quote} Then we are back on the right track and from day on, those 2 awesome week that you got since you joined TMS will come with time
Totally The ScorpS,

All the weeks I have been trading TMS it has produced an insane amount of pips. I just screwed it up the last two weeks and that was because I missed something in the PDF. Otherwise this week would have been a 500 pip week easy like the first 3 weeks. I'm looking forward to the opening of the market. Mad dash for pips in one more day
MAY THE PIPS BE WITH YOU!
  • #34,831
  • Apr 5, 2014 9:56pm Apr 5, 2014 9:56pm
Quoting as33156
{quote} Totally The ScorpS, All the weeks I have been trading TMS it has produced an insane amount of pips. I just screwed it up the last two weeks and that was because I missed something in the PDF. Otherwise this week would have been a 500 pip week easy like the first 3 weeks. I'm looking forward to the opening of the market. Mad dash for pips in one more day

Hey, what method are you trading regarding TMS?

page 1? tok?
Lets Make Some Money
  • #34,832
  • Apr 5, 2014 10:03pm Apr 5, 2014 10:03pm
Quoting DesiBaba
{quote} Hey, what method are you trading regarding TMS? page 1? tok?
I'm trading TMS hr4 charts all market sessions. I have no ideal what TOK is. Best of luck!
MAY THE PIPS BE WITH YOU!
  • #34,833
  • Apr 5, 2014 10:13pm Apr 5, 2014 10:13pm
Quoting as33156
{quote} I'm trading TMS hr4 charts all market sessions. I have no ideal what TOK is. Best of luck!

Sorry!

Tok as in Tokyo_5 method that is mentioned here many times.

So you are just taking h4 signals based on tdi crossing red and your bar closing above/below pac in the direction you wish to go?
But your doing this throughout the day?

Thanks for the response!
Lets Make Some Money
  • #34,834
  • Apr 5, 2014 10:40pm Apr 5, 2014 10:40pm
Quoting as33156
{quote} Totally The ScorpS, All the weeks I have been trading TMS it has produced an insane amount of pips. I just screwed it up the last two weeks and that was because I missed something in the PDF. Otherwise this week would have been a 500 pip week easy like the first 3 weeks. I'm looking forward to the opening of the market. Mad dash for pips in one more day
Which pdf are you referring to ?
May I know ?
  • #34,835
  • Apr 5, 2014 10:42pm Apr 5, 2014 10:42pm
Quoting DesiBaba
{quote} Hey, what method are you trading regarding TMS? page 1? tok?
That is one confusion arising from the use of shortened words, two and three character acronyms instead of people spending a second or two writing full words,
you will notice many have a habit of only referring to currency pairs by two letters, any idea who started that bad habit?
look at things like R:R = .... so what does it mean? guess it. Some say risk:reward, some say reward:risk, so how are you going to know with shortened words?
  • #34,836
  • Edited 11:11pm Apr 5, 2014 10:57pm | Edited 11:11pm
Quoting OuterWest
{quote} That is one confusion arising from the use of shortened words, two and three character acronyms instead of people spending a second or two writing full words, you will notice many have a habit of only referring to currency pairs by two letters, any idea who started that bad habit? look at things like R:R = .... so what does it mean? guess it. Some say risk:reward, some say reward:risk, so how are you going to know with shortened words?
S/R, RR, etc, these are acronyms you'll come across eventually as learning FOREX is a long, never-ending, path. Really, this is such trivial thing compare to the iceberg you call FOREX.

As for currency pairs, since most of us trade mainly the Major Pair, EUR USD GBP JPY AUD NZD there really is not much to be confused by 2 word short-cut. EN for example would of course be EURNZD, not EURNOK or some other exotic ones. I even think 2 letter is easier than their nicknames counter part; ie -fiber, cable, loonie, guppy, etc.
Everything you can imagine, is real - Pablo Picasso
  • #34,837
  • Apr 5, 2014 11:04pm Apr 5, 2014 11:04pm
Quoting DesiBaba
{quote} Sorry! Tok as in Tokyo_5 method that is mentioned here many times. So you are just taking h4 signals based on tdi crossing red and your bar closing above/below pac in the direction you wish to go? But your doing this throughout the day? Thanks for the response!
Yes TMS 4hr charts throughout the day.
MAY THE PIPS BE WITH YOU!
  • #34,838
  • Apr 6, 2014 12:43am Apr 6, 2014 12:43am
Quoting TheScorpS
Phx62 Is my Assian Session indicator set correctly, I am at GMT +2 my local time zone, and using FXDD? I tried to compare my chart to yours , and I find there's slightly differ pip range within 5 pips in the Assian Session range that the indi shows My internet is so slow , am having a trouble even uploading some kb snapshop, I will upload later {image}
Yes.....your Asian session indicator appears to be set correctly. However you are showing 10 hours on your London session box instead of 9 hours.
  • #34,839
  • Apr 6, 2014 1:50am Apr 6, 2014 1:50am
Quoting DesiBaba
{quote} Hey, what method are you trading regarding TMS? page 1? tok?
I use TMS H1 trading using Phx62 style, that's trading price action, plus TDI crosses and bounces , Also I take into consideration Asian Session breakout but only if it happens in the LO session because I look to take trade only when London open , I don't trade FO market , since FO has so many false signal that I got burned many times and decide that LO and NYO is the way to go
I Have Learned to Take Some Losses to Make Profits
  • #34,840
  • Apr 6, 2014 1:52am Apr 6, 2014 1:52am
Quoting Phx62
{quote} Yes.....your Asian session indicator appears to be set correctly. However you are showing 10 hours on your London session box instead of 9 hours.
Many thanks Sir, will adjust LO box then
I Have Learned to Take Some Losses to Make Profits
69 traders viewing now