Trading Made Simple | Page 1863 | 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

  • #37,241
  • May 7, 2014 11:19pm May 7, 2014 11:19pm
Quoting olly93
Could one of the more experience users of tms please tell me what you think about the current crosses on the 4H that have been largely caused by news? They are great according to tms rules and on the right side of MBL but would you say they have already moved too much to enter trades?

Hi I'm not that experienced using this system but I can speak from a general trading point of view. If it was me I'd look for local S/R zones and wait for a pullback to enter into the trend. Perhaps look for a re-entry signal on the TDI on smaller TF's eg 30m or 1 hr. I am open to any criticism from the more experienced TMS players.
As the lights go by so too do the shadows move
  • #37,242
  • May 7, 2014 11:23pm May 7, 2014 11:23pm
Quoting Matts Micro
{quote} Hi I'm not that experienced using this system but I can speak from a general trading point of view. If it was me I'd look for local S/R zones and wait for a pullback to enter into the trend. Perhaps look for a re-entry signal on the TMS on smaller TF's eg 30m or 1 hr. I am open to any criticism from the more experienced TMS players.
Sounds like a good plan. They are beginning to pullback now so Ill wait for them to do so and to give good confirmation that they are going to continue the trend. Thanks for the advice. Much appreciated.
  • #37,243
  • May 7, 2014 11:36pm May 7, 2014 11:36pm
Quoting olly93
{quote} Sounds like a good plan. They are beginning to pullback now so Ill wait for them to do so and to give good confirmation that they are going to continue the trend. Thanks for the advice. Much appreciated.

Your welcome. If your looking at the AU atm, I have .9365 as a strong support level and just below that 4hr fib @.9361. Currently watching to see if it holds.
As the lights go by so too do the shadows move
  • #37,244
  • May 8, 2014 12:01am May 8, 2014 12:01am
Tis 6AM. AUD pairs moved well, but im not going to trade it, due to it being with news and already spiked up. Good luck to those who takes any AUD pairs, TDI looks good for them! See ya at 10AM.
  • #37,245
  • May 8, 2014 1:35am May 8, 2014 1:35am
thank you,em.
the old post is here:
http://www.forexfactory.com/showthre...76#post7215776
http://www.forexfactory.com/showthre...31#post7068731
[quote=emmanuel7788;7454723]{quote} Hi cmk, Trading TMS requires some discretion on the part of the trader. The more experience the better the trader becomes. When I develop TMS 5-Method into my own winning system, my focus is in post#261 by eelfranz. Post#261/quote]
  • #37,246
  • May 8, 2014 1:53am May 8, 2014 1:53am
Quoting nsscott
{quote} In regards to what TDI doesn't move during candle formation...I have tried 3 or 4 (including these 2) and they all change with price moves. Is there settings I am supposed to edit to make the indicator not change from candle open to close? Thanks! .....
Hi nsscott,

excuse me for answering that late - I just saw your question and didn't look, if someone answered it yet.
If you use the normal TDI and specify 1 in Price_type, the TDI is calulated on the open price of the candles. If you have a look at the datawindow you'll see, that the TDI values do not change during the currently building candle.

But in hindsight this TDI looks ussually similar as the close price based TDI, except there is a shifting of one bar.
And that is clear, because of ussually the close of candle #1 = open of candle #2, because of gaps in forex are less frequent and more the exception.

fxfox
Attached Image (click to enlarge)
Click to Enlarge Name: hc_001.png Size: 141 KB
fxFox (all times in my charts are GMT+1)
  • #37,247
  • Edited 3:18am May 8, 2014 2:59am | Edited 3:18am
Anything wrong with my short entry point @ 1H seems not so nice? Appreciate feedbacks.
Attached Image (click to enlarge)
Click to Enlarge Name: Picture2.png Size: 383 KB
  • #37,248
  • May 8, 2014 3:11am May 8, 2014 3:11am
EURUSD GBPUSD

Two inside bar
Attached Image (click to enlarge)
Click to Enlarge Name: Image 090.png Size: 63 KB
Sad i'm not trying to understand PA
  • #37,249
  • May 8, 2014 3:28am May 8, 2014 3:28am
Quoting pastecopy
Anything wrong with my short entry point @ 1H seems not so nice? Appreciate feedbacks. {image}

GBPNZD bullish for 2 days, and now market pause at BRN 1.9600, and there 1.9627 which is a Historical Swing Level. The break of this level will usually be a huge candle. Buy low is a better idea.

Read my post#37203
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #37,250
  • May 8, 2014 4:04am May 8, 2014 4:04am
No trade 10AM. I like UCad, but seems like there is resistance. Slow day.
  • #37,251
  • May 8, 2014 4:19am May 8, 2014 4:19am
Quoting omonisha
EURUSD GBPUSD Two inside bar {image}
Here's a question for the more experienced traders.

EU is close to Weekly and Daily Resistance area (around 1.3950 area).
EU Daily and H4 uptrend (HH's and HL's)
TDI on H4 looks good (TDI PL >TSL > MBL > 50 and last H4 candle closed above 5ema with Stoch also confirming a long. But possible divergence forming.

My question is: Given the long signal on TDI/Stoch, what weight should be given to the Resistance above? Would the close proximity of resistance negate the trade or perhaps induce a trader to only consider a scalp for say 20 pips?

Looking forward to some insight.
Axiom
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDm,H4_2014-05-08.png Size: 78 KB
  • #37,252
  • May 8, 2014 4:31am May 8, 2014 4:31am
Quoting Axiom
{quote} Here's a question for the more experienced traders. EU is close to Weekly and Daily Resistance area (around 1.3950 area). EU Daily and H4 uptrend (HH's and HL's) TDI on H4 looks good (TDI PL >TSL > MBL > 50 and last H4 candle closed above 5ema with Stoch also confirming a long. But possible divergence forming. My question is: Given the long signal on TDI/Stoch, what weight should be given to the Resistance above? Would the close proximity of resistance negate the trade or perhaps induce a trader to only consider a scalp for say 20 pips?...
There is consolidation (or 'structure' as some people like to call it on) on GU and EU. In fact there is an inside bar setup on the Daily which another poster has kindly pointed out.

Also on your example supply zone has formed (people prepared to sell at the high price) but in IMHO the probability is that price needs to come down.

Market is always trying to trap traders into buying high and selling low. To make money you need to do the opposite, and both GU and EU are currently too high IMO.
  • #37,253
  • May 8, 2014 4:47am May 8, 2014 4:47am
Quoting hostwey
{quote} There is consolidation (or 'structure' as some people like to call it on) on GU and EU. In fact there is an inside bar setup on the Daily which another poster has kindly pointed out. Also on your example supply zone has formed (people prepared to sell at the high price) but in IMHO the probability is that price needs to come down. Market is always trying to trap traders into buying high and selling low. To make money you need to do the opposite, and both GU and EU are currently too high IMO.
Hostwey,

Thanks for your reply. Notwithstanding the Daily IB and supply zone above, would you have considered a trade on a LTF like H1 but with a reduced TP (say at supply area)?

In hindsight, I suppose this is an arbitrary question as it would depend on a trader's trading plan (incorporating goal and risk appetite amongst other factors).
Axiom
  • #37,254
  • May 8, 2014 4:55am May 8, 2014 4:55am
Quoting Axiom
{quote} Hostwey, Thanks for your reply. Notwithstanding the Daily IB and supply zone above, would you have considered a trade on a LTF like H1 but with a reduced TP (say at supply area)? In hindsight, I suppose this is an arbitrary question as it would depend on a trader's trading plan (incorporating goal and risk appetite amongst other factors). Axiom
Looked better on the 15 minute chart, and could even have scaled up after creation of second demand zone/TDI cross, also nice bounce off the (yellow) MBS line

Looks peaky now though, though EU is very bullish. We need a pullback though.
Attached Image (click to enlarge)
Click to Enlarge Name: aeurusdm15.png Size: 44 KB
  • #37,255
  • May 8, 2014 5:01am May 8, 2014 5:01am
Quoting Axiom
{quote} Hostwey, Thanks for your reply. Notwithstanding the Daily IB and supply zone above, would you have considered a trade on a LTF like H1 but with a reduced TP (say at supply area)? In hindsight, I suppose this is an arbitrary question as it would depend on a trader's trading plan (incorporating goal and risk appetite amongst other factors). Axiom
What prompted my initial question was the recommendation by the TMS Monitor (kindly posted by Emmanuel) that EU was (still is) a "STRONG BUY".

I have just learnt that the TMS Monitor is a tool that can alert one to possible trades but further analysis is ALWAYS required (as has been conveyed by the more experienced traders). One can blindly enter into a trade based only on a TDI cross but consideration of structure and PASR adds so much more information for determining a possible TP.

There is no substitute for independent thought and analysis.

Axiom
  • #37,256
  • May 8, 2014 5:09am May 8, 2014 5:09am
Quoting Axiom
{quote} What prompted my initial question was the recommendation by the TMS Monitor (kindly posted by Emmanuel) that EU was (still is) a "STRONG BUY". I have just learnt that the TMS Monitor is a tool that can alert one to possible trades but further analysis is ALWAYS required (as has been conveyed by the more experienced traders). One can blindly enter into a trade based only on a TDI cross but consideration of structure and PASR adds so much more information for determining a possible TP. There is no substitute for independent thought and analysis....
Yes I agree but Big E would also say look for momentum and 'look to the left' and look out for support/resistance.

Big E had been through the wars and spent years studying charts, and his brain could probably internalise a lot of the 'further analysis' without much conscious thought. A bit like an experienced driver can change gear and work the clutch without having to think about it.

I'm still at the conscious thought stage.

A lot of these setups look obvious now, but not so obvious in real time. I hope eventually I'll get to a stage when my brain just says "yup thats a buy/sell" and not a leap into the unknown!
  • #37,257
  • May 8, 2014 5:15am May 8, 2014 5:15am
Quoting Axiom
{quote} What prompted my initial question was the recommendation by the TMS Monitor (kindly posted by Emmanuel) that EU was (still is) a "STRONG BUY". I have just learnt that the TMS Monitor is a tool that can alert one to possible trades but further analysis is ALWAYS required (as has been conveyed by the more experienced traders). One can blindly enter into a trade based only on a TDI cross but consideration of structure and PASR adds so much more information for determining a possible TP. There is no substitute for independent thought and analysis....
Axiom ,

As you can see price will defintly hit 1.40 but how deep the pullback will be noone knows.

My suggestion is PATIENCE my friend. In a bull trend you don't want to be a bear. If the price breaks out above 1.3950 then it is simple just buy instead of looking for the reversal point and getting short.

I prefer to be in primary trend direction and not looking to short a pullback.

Now spend some time to read BIG E post where he mentions that look if there is support /resistance close then he would pass that cross.

Hope this helps.

Good trades to ALL.
  • #37,258
  • May 8, 2014 5:59am May 8, 2014 5:59am
Quoting alex8585
{quote} Axiom , As you can see price will defintly hit 1.40 but how deep the pullback will be noone knows. My suggestion is PATIENCE my friend. In a bull trend you don't want to be a bear. If the price breaks out above 1.3950 then it is simple just buy instead of looking for the reversal point and getting short. I prefer to be in primary trend direction and not looking to short a pullback. Now spend some time to read BIG E post where he mentions that look if there is support /resistance close then he would pass that cross. Hope this helps. Good...
Thanks alex.
  • #37,259
  • May 8, 2014 7:52am May 8, 2014 7:52am
Quoting Axiom
{quote} Thanks alex.
EURUSD did pullback a little and spike up on Draghi but its finding those sellers again just below 1.40

Could be some fed up break out traders up there. "its going higher, its going higher....oh damn fooled again, doh!"
Attached Image (click to enlarge)
Click to Enlarge Name: peurusdm15.png Size: 37 KB
  • #37,260
  • May 8, 2014 9:17am May 8, 2014 9:17am
Quoting hostwey
{quote} EURUSD did pullback a little and spike up on Draghi but its finding those sellers again just below 1.40 Could be some fed up break out traders up there. "its going higher, its going higher....oh damn fooled again, doh!" {image}
The euro crashed and burned because Draghi hinted towards another rate cut in June Fundemantally, the ECB is targetting the ever decreasing inflation (desinflation) by increasing lending (and thus consumption)... Correlatively, a rate cut is usually bearish for the currency, since yields on bonds are calculated based on central bank interest rate, among other things...

Quoting alex8585
{quote} Axiom , As you can see price will defintly hit 1.40 but how deep the pullback will be noone knows. My suggestion is PATIENCE my friend. In a bull trend you don't want to be a bear. If the price breaks out above 1.3950 then it is simple just buy instead of looking for the reversal point and getting short. I prefer to be in primary trend direction and not looking to short a pullback. Now spend some time to read BIG E post where he mentions that look if there is support /resistance close then he would pass that cross. Hope this helps. Good trades to ALL.
There is no bull trend on EU, for a number of reasons, price is simply being kept high. Any time the euro dips lower, it is being forced back up by central banks.
387 traders viewing now