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Trading Made Simple

  • #35,641
  • Apr 12, 2014 12:40am Apr 12, 2014 12:40am
Quoting thinkpad123
{quote} Hello You have to copy the fxtp.set file in MQL4>presets folder After that go to settings of indicator and ther you will find a LOAD button at right side, Click on it and you will be directed to the presets folder. Simply load this file from there and it will automatically load settings from it. I hope this helps and do let me know if you need any further clarification.
Got it thanks! Does this file save me from having to configure the EA with my own settings? I had a quick look at the manual and found it fairly intense and complicated.

Hope you have a great weekend!

Gavin
  • #35,642
  • Apr 12, 2014 12:54am Apr 12, 2014 12:54am
Quoting gavman
{quote} Got it thanks! Does this file save me from having to configure the EA with my own settings? I had a quick look at the manual and found it fairly intense and complicated. Hope you have a great weekend! Gavin
Yes you just have to load it and you are good to roll
I am not random, U just can't think as fast as me....
  • #35,643
  • Apr 12, 2014 2:26am Apr 12, 2014 2:26am
Quoting emmanuel7788
Here is another simple way to learn hpow to trade with TMS 5-Method. First, download that TMS_V19 MTF pdf manual. Link is here [click] Study the explanations in that manual which explains the TDI and Candles setups. There are 3 basic Candles setups explained in that manual. The TDI conditions are very clearly explained too. Learn them. For the time being, by-pass the other stuff written on ADX, CCI, TMA, etc. Just learn the TDI and Candles setups first....

Your post has helped me to understand more clearly about TMS as well as how to be a successful trader.
Thanks again for all your time Master Emmanuel.
  • #35,644
  • Apr 12, 2014 3:10am Apr 12, 2014 3:10am
My first week of trading the Big E/Bizzzle way from Page 1:

1 trade EurAud: 108 pips
1 EurUsd: 2 pips
1 GbpUsd: 51 pips
1 AudYen: -32 pips

It is certainly much more relaxing knowing the trade will only be open for a few CS, rather than a few days.
And if you catch proper momentum there is little to no draw down.

Although I do cheat and check the trade progress on top of each hour - if there is a trade open.
I also closed 50% of position at 40 pips depending on how it looks, so some MM is used.
I also wait for price to break above high of the set up CS.

Cheers
  • #35,645
  • Apr 12, 2014 3:10am Apr 12, 2014 3:10am
Quoting gavman
{quote} Hello Phx62, I must say I admire the way you trade - very inspiring! I want to ask if you use an indi for the breakout boxes on your charts, or do you 'draw' them in manually? Regards, Gavin
Let me answer this since I use these boxes

Look up the breakout boxes are all in the paper club above, they are indicators that draws LO open, high low, NY open , high and low

You have to play with the settings to configure them according to your broaker and platform
I Have Learned to Take Some Losses to Make Profits
  • #35,646
  • Apr 12, 2014 4:07am Apr 12, 2014 4:07am
Quoting emmanuel7788
{quote} what do you want to trade? position trading over many days and weeks or something else you have in mind.
Hi Big EMM,

I am looking for position trading over many days if PA stays in my favor. The problem is I have to leave for work at 7:15 AM Australian time (as it takes me 1.5 hrs in commuting to and from work) and it's the time when FXCM NY close gives its daily candle. When I come back home in evening I have already missed 1.5 hours of London open (If I trade 4 hour charts).

NY opens at 11:30 PM Australian time which makes it hard for me to trade H4 and H1 as I have to be up early for work.So, I believe I can up early check my setup for daily charts and place my trades at 7:00 AM and leave for work and check them when I get back home or the next day. Hope that make sense.

I am open to all the suggestions senior members can provide.

Kind regards
  • #35,647
  • Apr 12, 2014 4:11am Apr 12, 2014 4:11am
I have done Big Picture planning (as BIG EMM would say) for EA (12-04-2014) as this is my 1st trend analysis, I am open to comments, advice and suggestions.

Attached File(s)
File Type: pdf EAanalysis-12-04-2014.pdf   201 KB | 694 downloads


Kind regards
  • #35,648
  • Apr 12, 2014 4:22am Apr 12, 2014 4:22am
Quoting emmanuel7788
{quote} Hi longbk and Everyone who wants to know but did not ask here: Please, first go to babypips.com Elemntary Grade and study the topic on Support and Resistance. http://www.babypips.com/school/eleme...istance-levels When you have completed that, then please tell me. Then I will explain again how I do my Big Picture Planning, my way in doing top down analysis using Monthly and Weekly charts timeframes. Once Big Picture Planning is done and is updated regularly, then we can proceed on to doing our weekly trade plan...

Yes please... i tried several time to analyse weekly and monthly chart to trade on 4h....but every time seems i am doing wrong...price always go against my analysis....
hope your guidance will help to find out the problem....

Thanks in advance

Omonisha
Sad i'm not trying to understand PA
  • #35,649
  • Apr 12, 2014 4:33am Apr 12, 2014 4:33am
Quoting irishtoffy
My first week of trading the Big E/Bizzzle way from Page 1: 1 trade EurAud: 108 pips 1 EurUsd: 2 pips 1 GbpUsd: 51 pips 1 AudYen: -32 pips It is certainly much more relaxing knowing the trade will only be open for a few CS, rather than a few days. And if you catch proper momentum there is little to no draw down. Although I do cheat and check the trade progress on top of each hour - if there is a trade open. I also closed 50% of position at 40 pips depending on how it looks, so some MM is used. I also wait for price to break above high of the set...
Nice trades mate!

Are you gonna be trading the same method next week?
Focus on the process and the profits will follow
  • #35,650
  • Apr 12, 2014 4:52am Apr 12, 2014 4:52am
Quoting MrAussieFX
I have done Big Picture planning (as BIG EMM would say) for EA (12-04-2014) as this is my 1st trend analysis, I am open to comments, advice and suggestions. {image} Kind regards

Well done MrAussieFX....just want to ask..have you consider any plan B...as BIG EMU used to say

Regards

Omonisha
Sad i'm not trying to understand PA
  • #35,651
  • Apr 12, 2014 6:13am Apr 12, 2014 6:13am
Quoting MrAussieFX
{quote} Hi Big EMM, I am looking for position trading over many days if PA stays in my favor. The problem is I have to leave for work at 7:15 AM Australian time (as it takes me 1.5 hrs in commuting to and from work) and it's the time when FXCM NY close gives its daily candle. When I come back home in evening I have already missed 1.5 hours of London open (If I trade 4 hour charts). NY opens at 11:30 PM Australian time which makes it hard for me to trade H4 and H1 as I have to be up early for work.So, I believe I can up early check my setup for daily...
Dear MrAussies,

I use my android phone to log to my Home PC via Team Viewer.I have 5" screen Mobile.I can do everything to my PC by using MY mobile.
I'm not a senior Member.But hope this will help you.Pls try it...

Thanks
Helanka
Helanka
  • #35,652
  • Apr 12, 2014 6:50am Apr 12, 2014 6:50am
Quoting Ballistical
{quote} Nice trades mate! Are you gonna be trading the same method next week?
Cheers!

Yes I will be trading the same method next week, although haven't yet checked for any major holidays this coming week.

Are you trading it also?
  • #35,653
  • Apr 12, 2014 6:57am Apr 12, 2014 6:57am
Just looking at this chart on the weekly. The week ended with a bullish engulfing bar plus it had taken out the high of the 2013 april candle decisively. I won't be looking at shorts
Attached Image (click to enlarge)
Click to Enlarge Name: pic49.png Size: 81 KB
the cautious seldom err....C
  • #35,654
  • Apr 12, 2014 7:01am Apr 12, 2014 7:01am
Quoting MrAussieFX
{quote} Hi Big EMM, I am looking for position trading over many days if PA stays in my favor. The problem is I have to leave for work at 7:15 AM Australian time (as it takes me 1.5 hrs in commuting to and from work) and it's the time when FXCM NY close gives its daily candle. When I come back home in evening I have already missed 1.5 hours of London open (If I trade 4 hour charts). NY opens at 11:30 PM Australian time which makes it hard for me to trade H4 and H1 as I have to be up early for work.So, I believe I can up early check my setup for daily...
MrAussieFX and ALL,

I read many posts here and people are thinking too much on H4 charts all the time. TMS 5-Method is not about H4 trading alone. In this thread post#1, Eric was sharing his trading style which suited his lifestyle and his time zone. He lived in Oregon, US and the time zone is PST. London session open is during his nightime, his bedtime.
Read Eric post#1025. Pic of that post is below. Eric addressed this problem of the new traders in his 463 posts.

Attached Image (click to enlarge)
Click to Enlarge Name: Big E post 1025 Basic forex stuff2.png Size: 59 KB


Learn the basic forex trading stuff first and have a deep grounding and foundation. Then develop and make TMS 5-Method your own trading system. Stop believing that it is so simple just following post#1 or page#1 and forget about the basic forex trading stuff you must learn first.

For those who plan to and want to trade once per day due to your fulltiem jobs and not having the luxury to trade at your workplace, please consider do position trading, please stop limiting your thinking to H4 charts. Forget about H4 charts for the time being and just study your charts from top down and study the price waves and how the TDI relateds to the price waves seen on your charts in all different timeframes - Monthly,Weekly and Daily.

Believe me when I say many of you need to learn the basics of trading first. I get many PMs with all sort of requests and questions. I know the level of knowledge of the members who write their posts. I can assess their level of trading mastery when I read what they write in their posts and by the way they reply to others. Of course I give some leeway for language differences and cultural differences, but charts posted tells me the many things like the DNA of the trades and the traders' thought process.

Regards,

EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #35,655
  • Edited 7:33am Apr 12, 2014 7:22am | Edited 7:33am
For a systematic way to conduct your Big Picture Planning (BPP) Emmanuel has been kind enough to show us many times throughout the thread how we can go about this process in a structured and consistent way. This process has been compiled in PDF format in the post below:

Quoting Erol
Hi all, Please find attached a PDF I had compiled that I thought some members (passive and active) may find useful. This framework (explained and outlined by Emmanuel) is a process in BBP (Big Picture Planning). Essentially one of the ten(10) core skills Emmanuel has outlined...MTFA: {image} This should be an integral part of your trading system not trading strategy...don't know the difference...see below: {image} Why is this important? {image}


For those struggling with the basics of PASR (Price Action (around) Support & Resistance) I suggest you take a gander at the post below and the attached PDF

Quoting Erol
Please note PASR is just one of the many things Emmanuel has emphasized that the process of trading requires us to look at and question ourselves whenever we see a setup on our charts: PriceAction Trend Multi-Timeframe Momentum Support and Resistance Continuation Volatility Market Strength Range Timing A final note: to all people looking at this thread (guest, member, subscriber, invisible). He has provided us with the information to help us: 1. Understand how to use TMS as a core method 2. Show us an expanded way of looking for trades, putting...


Furthermore, I can't stress the importance of what Emmanuel has just posted! Especially for the newer members of this read! "Learn the basic forex trading stuff first and have a deep grounding and foundation. Then develop and make TMS 5-Method your own trading system. Stop believing that it is so simple just following post#1 or page#1 and forget about the basic forex trading stuff you must learn first."

Learning to trade CONSISTENTLY isn't a sprint it's a marathon. But how do you do this you may ask. Well when you read through the posts and are developing your system keep in mind the following building blocks:

1. Understand how to use TMS as a core method
2. How can we expand our way of looking for trades... by putting more emphasis on Price action, S/R and the uses of Candlesticks for entries
3. The use of APB/HA/R+ for managing trade exits.
4. The importance of Plan A, Plan B, Plan C (This way there is a plan to always be in the market)
5. The use of a money management strategy to crank up the pips & % returns
6. An understanding of the Market types (3) we can trade using TMS

If this sounds like a lot of WORK then you need to ask your self the question as to why you want to trade
  • #35,656
  • Apr 12, 2014 7:28am Apr 12, 2014 7:28am
Hello everyone! Glad to be here again. Read the thread very carefully, watched the system on old charts and i must say it's really amazing. I don't like 4H timeframe, my new candle starts not 6am UK time, but 7 am and 11 am UK time. I love one 1H charts, but it needs a lot of learning to trade on this timeframe, so i will try it only on demo now and watch how it works. But i decided to try Daily charts on my small real account, which is specially created for testing this system. When trading real money my discipline is much higher, so i will go this way. Daily charts seem really nice for me and TMS gives a great opportunity to succeed. Want to share some thoughts and ask what do you think about it.

I did analyze for about 10-12 pairs for now and found one nice set-up for monday entry.
USD/CAD: we have a strong up-trend on Weekly and Daily, the price has found a nice support at EMA100, TDI gives us a signal and the last candle is near to break ema5. We are going to enter on the second candle after APB change the color.
Attached Image (click to enlarge)
Click to Enlarge Name: usdcaddaily.jpg Size: 165 KB


Also there were some good entries on Friday, but i didn't trade them. What do you think, is it late to enter on monday EUR/CAD and EUR/GBP? That would be 3d APB candle.

Attached Image (click to enlarge)
Click to Enlarge Name: eurcaddaily.png Size: 34 KB

Attached Image (click to enlarge)
Click to Enlarge Name: eurgbpdaily.png Size: 47 KB
  • #35,657
  • Apr 12, 2014 7:52am Apr 12, 2014 7:52am
Quoting MrAussieFX
{quote} Hi Big EMM, I am looking for position trading over many days if PA stays in my favor. The problem is I have to leave for work at 7:15 AM Australian time (as it takes me 1.5 hrs in commuting to and from work) and it's the time when FXCM NY close gives its daily candle. When I come back home in evening I have already missed 1.5 hours of London open (If I trade 4 hour charts). NY opens at 11:30 PM Australian time which makes it hard for me to trade H4 and H1 as I have to be up early for work.So, I believe I can up early check my setup for daily...
Mate - don't over complicate things. Big E from what I have read did not over analyse. He looked at the chart live and could see trend etc.

I trade the daily bar and this week only 4 days and even closing early Friday night grossed 380 pips. You can do the same.

I think you need to decide whether you want to be a trader like Emmanuel who clearly knows his away around a chart - a professional with many years experience. That will take 10000 hours! maybe a lifetime with your limited time.

Or you trade as Big E envisaged. Follow his rules and you will be 60% successful, but in a month or two as the strategy becomes your own 70 to 80% successful.

Notice I did not say make your own strategy, but make his exact strategy yours. That is what Bizzzle is doing, Ballistica and myself are doing and proving Big E is correct.

Much of this thread has done nothing but take away from the simplicity Big E was hoping guys like you and me would take on board and trade. He wanted fellow traders to make some $$$. Not become analysts.

I realise people go thru the thread and try and quote Big E and page this and page that.

BUT HERE IS THE KICKER. If he varied from PAGE 1 he was breaking his own rules.

Back to the daily bar. You don't even need to enter at 7am. You could enter at lunchtime if you had a laptop. Hope you understand

Gil
  • #35,658
  • Apr 12, 2014 7:57am Apr 12, 2014 7:57am
Quoting toledoFX
Hello everyone! Glad to be here again. Read the thread very carefully, watched the system on old charts and i must say it's really amazing. I don't like 4H timeframe, my new candle starts not 6am UK time, but 7 am and 11 am UK time. I love one 1H charts, but it needs a lot of learning to trade on this timeframe, so i will try it only on demo now and watch how it works. But i decided to try Daily charts on my small real account, which is specially created for testing this system. When trading real money my discipline is much higher, so i will go...
If you want Big E results fellow the rules! Third bar on any time frame is NONO except bounce trade!

Regarding Monday, I will not jump into any daily trade at market open. I will wait at least several hours after Asian session open.
  • #35,659
  • Apr 12, 2014 8:15am Apr 12, 2014 8:15am
Quoting GilR
{quote} If you want Big E results fellow the rules! Third bar on any time frame is NONO except bounce trade! Regarding Monday, I will not jump into any daily trade at market open. I will wait at least several hours after Asian session open.
Thank you for the answer! So that's right, 3d candle - no entry. I am going to watch few hours after open too and only then decide what to do with USD/CAD. Thank you! Really nice to get experience from all traders on this thread who follows the rules of TMS.
  • #35,660
  • Apr 12, 2014 8:27am Apr 12, 2014 8:27am
Quoting GilR
I think you need to decide whether you want to be a trader like Emmanuel who clearly knows his away around a chart - a professional with many years experience. That will take 10000 hours! maybe a lifetime with your limited time.
Or you trade as Big E envisaged. Follow his rules and you will be 60% successful, but in a month or two as the strategy becomes your own 70 to 80% successful.
My goal is clear... I want to trade like Phx.

Another thing I can see clearly now - no matter what path I choose, they are filled with death traps! Gotta be careful, gotta be patience.

There's a post I thought was a great reminder of us all in terms of psychology and discipline... I would like to share his post here. Thanks Bryce.

Quote
After 6 months of learning the basics, charting levels, S/R's, understanding swing highs/lows I would contend that the major reason traders fail is because they don't follow their own set of rules. Here are some classics below:

Not taking an obvious trade because the last 2 have been losers and you are fearful of another loss.

Over trading to make back losses.

Taking 50/50 trades out of boredom or because they haven't been in a trade for a week or so.

Over trading because you've already had a 'good week and I might as well.'

Taking a trade that doesn't quite fit your rules but 'you are pretty sure that it will be a winner.'

Taking a trade that doesn't fit your rules but as you haven't broken your rules in a while it will 'be OK to do it just this one time.'

Doubling up your risk on one particular trade because 'it looks particularly good.'

Doubling up your risk because the last trade was a loser and you're anxious to make it back plus some extra profit.
Everything you can imagine, is real - Pablo Picasso
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