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Trading Made Simple

  • #37,881
  • May 28, 2014 6:21am May 28, 2014 6:21am
Hi guys,

I'm testing TMS with a small account but I've got a problem. How do you manage not to lose during a ranging market? by the why we don't know when the range is finished and a good trend is comming, so we enter with all TDI signals and lose with all the entries? It's a common downside of most strategies in ranging markets but do you have a solution for TMS?
  • #37,882
  • May 28, 2014 6:51am May 28, 2014 6:51am
Been waiting for this trade for a few days and finally got it. When I took the trade, there was resistance just below where my stop loss line is showing. Price had made 4 attempts at breaking it and got forced back, taking any of the other buys on the chart would have been too close and the sells were going nowhere near the lower support. Finally we had a bounce off support with an inverted hammer which gave a nice bit of room to move back to BE if necessary. I knew if it was going to move through the first bit of resistance it would have to move a long way fast so set my take profit at 100 pips as usual and it was hit.
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  • #37,883
  • May 28, 2014 7:08am May 28, 2014 7:08am
Quoting Rajitomate
{image}
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Close this trade because is near a support.

Happy trading
  • #37,884
  • May 28, 2014 7:12am May 28, 2014 7:12am
Quoting Rajitomate
{quote} {image} Close this trade because is near a support. Happy trading
Nice trade
  • #37,885
  • Edited 8:27am May 28, 2014 7:45am | Edited 8:27am
Quoting Kouroushi
Hi guys, I'm testing TMS with a small account but I've got a problem. How do you manage not to lose during a ranging market? by the why we don't know when the range is finished and a good trend is comming, so we enter with all TDI signals and lose with all the entries? It's a common downside of most strategies in ranging markets but do you have a solution for TMS?
Kouroushi - the best I can say is to stay away from ranging market until you're more experienced. It's very easy to lose money in a range.

Knowing when NOT to trade is very very important. Being able to tell when a market is ranging, like you did, is definitely a good start.

To be a bit more precise, if you go back and read Big E's post you'll notice that he only trade from 2 hours before London open until London closes so the price would have enough movement to make money. We traders need price to move to make money after all.
Everything you can imagine, is real - Pablo Picasso
  • #37,886
  • May 28, 2014 8:25am May 28, 2014 8:25am
Not sure if I'm too paranoid, I set trailing stop at 10 pips seeing how choppiness the market is.

AUDJPY went to +20 and came back to to close at +10
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CADJPY went +12 and close at +1
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Done for the day before I do something stupid and go into negative lol
Everything you can imagine, is real - Pablo Picasso
  • #37,887
  • May 28, 2014 8:35am May 28, 2014 8:35am
Quoting emmanuel7788
{quote} Hello veryspecial1, Sorry, this week I am very busy so do not have time to help new traders here. GBPJPY, 8 hrs ago on H4 was a TDI cross down but above the MBL. Not good idea. Some traders may see a bearish divergence and that may have given weight for that sell trade setup. But when we look at Price Action and where Support and Resistance, it would be selling into Support. On D chart there is a consolidation with Master Candle. And price now stalled at RN 171.5 very obvious. regards, EMMANUEL
Thank you very much for your reply.
It seems that you are correct that it is not a good idea to take the trade.
I have been trying on my demo account and the 20 pips TP is not hit during the Asian session.
Thank you for your advice
veryspecial1
  • #37,888
  • May 28, 2014 9:20am May 28, 2014 9:20am
Good day.
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  • #37,889
  • May 28, 2014 9:40am May 28, 2014 9:40am
Quoting Direwolf
{quote} Kouroushi - the best I can say is to stay away from ranging market until you're more experienced. It's very easy to lose money in a range. Knowing when NOT to trade is very very important. Being able to tell when a market is ranging, like you did, is definitely a good start. To be a bit more precise, if you go back and read Big E's post you'll notice that he only trade from 2 hours before London open until London closes so the price would have enough movement to make money. We traders need price to move to make money after all.
Dear Direwolf,
Thanks for your help
It seems you guys consider Price Action very carefully, am I right? Is there any other thing you use to improve your performance with TMS?
And I'd like to know your experience with TMS and I'd appreciated if you would share it with me, how long have you been trading with TMS and on average how many pips you are making a week?
I'm not that beginner to rush for the big money, that's not why I'm asking these questions. I'm asking because your experience is like a doping for me
  • #37,890
  • May 28, 2014 10:04am May 28, 2014 10:04am
Quoting veryspecial1
{quote} Thank you very much for your reply. It seems that you are correct that it is not a good idea to take the trade. I have been trying on my demo account and the 20 pips TP is not hit during the Asian session. Thank you for your advice veryspecial1
As you're on demo, I hope you tried the tdi bounce on H4 this morning on GJ if you were around to take it.
  • #37,891
  • May 28, 2014 10:12am May 28, 2014 10:12am
Another one.
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  • #37,892
  • Edited 10:44am May 28, 2014 10:31am | Edited 10:44am
Quoting Kouroushi
{quote} Dear Direwolf, Thanks for your help It seems you guys consider Price Action very carefully, am I right? Is there any other thing you use to improve your performance with TMS? And I'd like to know your experience with TMS and I'd appreciated if you would share it with me, how long have you been trading with TMS and on average how many pips you are making a week? I'm not that beginner to rush for the big money, that's not why I'm asking these questions. I'm asking because your experience is like a doping for me
Well in my case I spent 9 months away from this thread studying price action. So sometimes I can't help but notice them I guess, it's become second nature

When I discovered this thread I was so new. I was so excited reading Phx62's trades and really, really wanted to be as good as him. But the amount of analysis he did really overwhelmed me... he considered so many things that I was totally lost and blown away. I tried to trade like Phx62, which I failed miserably.

The word price action was mentioned many times in his pdf and that's when I decided to take a break from TMS and search more about price action. I found a thread by Johnathon Fox over at babypips and for 9 months I've been studying and follow that thread. It had laid down many foundations for me.

I returned to this thread around January this year and all of a sudden everything makes sense. I was no longer overwhelmed, I can understand what the seniors are doing, I can spot support & resistance at first glance and realize the importance of following the rules with strict discipline. Only then that my TMS trade started to pick up.

Over all I made profit but I have to tell you i'm still no where near many seniors of this thread. This is my latest trades history and those trades I made 5-10 pips could have easily made 50 if only I have more confidence to let them run. I need more experience to have that confidence. Plus a full loss would set me back quite a bit, which fortunately haven't happened this month.
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For better example, look up Zoopots, Brizzzle, Phx62 for a start. And obviously, Big E himself
Everything you can imagine, is real - Pablo Picasso
  • #37,893
  • May 28, 2014 12:29pm May 28, 2014 12:29pm
Partial profit taken on GA daily and added to the position.
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Regards
  • #37,894
  • May 28, 2014 2:31pm May 28, 2014 2:31pm
Quoting Gokay
{quote} of course here it is...... {file}
Thanks !
I have good hopes this will help determine my entry and exit points better.
Being good at what you do is a result of having fun
  • #37,895
  • May 28, 2014 2:52pm May 28, 2014 2:52pm
Trending upwards?

yes: cc1 > breaking 80 level
yes: cc1 and stochastic sharp up
yes: TDI green getting further from red, recently crossed
yes: RSIOMA >50
yes: delayed stochastic green getting higher than red
yes: range factor upward and about to break uper level
yes: volatility increase

BUT..... wil it break the -i think very strong- resistance at 1.09000 ????
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Being good at what you do is a result of having fun
  • #37,896
  • May 28, 2014 4:19pm May 28, 2014 4:19pm
This is one of the few threads I have checked in on periodically since the day I saw Big E open the thread. I have to say I have been shaking my head more and more each time I check in wondering what happened to "trading made simple" ? It's a shame this thread has been hijacked by so called "seniors" who seem to be satisfied by earning more pats on the back than actual pips and by complete newbies who clearly haven't even read up on the basics of trading. Keeping trading simple doesn't mean piling on so many indicators that you can't even see where the indicators draw their values from (price and time). My bet is that if this thread doesn't go back to the basics it will soon become buried like the 1000's of other systems that were once hot.

FYI: This is nothing more than a MA crossover system. Throw up a fast EMA and a slower EMA (3/10 or whatever you chose). Watch how that reacts to price/time compared TDI or how the fast EMA by itself compares to HA candles. No matter what indicator you throw on the chart, they are all giving a calculation using nothing more than price/time so you can make most all indicators look alike by adjusting the settings.

Good luck to those who really keep it simple.
"... and money is the answer for everything." Ecclesiastes 10:19
  • #37,897
  • May 28, 2014 4:33pm May 28, 2014 4:33pm
Quoting azFin
This is one of the few threads I have checked in on periodically since the day I saw Big E open the thread. I have to say I have been shaking my head more and more each time I check in wondering what happened to "trading made simple" ? It's a shame this thread has been hijacked by so called "seniors" who seem to be satisfied by earning more pats on the back than actual pips and by complete newbies who clearly haven't even read up on the basics of trading. Keeping trading simple doesn't mean piling on so many indicators that you can't even see where...
Agreed
As Big E said at the first place, adding other indicators or etc just makes more confusion for this system.
We can even trade with 2 EMA crosses without using TMS, but it wouldn't be TMS anymore
  • #37,898
  • May 28, 2014 5:57pm May 28, 2014 5:57pm
Quoting lastingwell
Been waiting for this trade for a few days and finally got it. When I took the trade, there was resistance just below where my stop loss line is showing. Price had made 4 attempts at breaking it and got forced back, taking any of the other buys on the chart would have been too close and the sells were going nowhere near the lower support. Finally we had a bounce off support with an inverted hammer which gave a nice bit of room to move back to BE if necessary. I knew if it was going to move through the first bit of resistance it would have to move...
You always make me feel all warm and fuzzy on the inside, LW Great job!
  • #37,899
  • Edited 6:44pm May 28, 2014 6:17pm | Edited 6:44pm
Quoting veryspecial1
{quote} Thank you very much for your reply. It seems that you are correct that it is not a good idea to take the trade. I have been trying on my demo account and the 20 pips TP is not hit during the Asian session. Thank you for your advice veryspecial1
Hi veryspecial1,

Not that it was not a good idea. In different timeframe we see different things.
Big E had said before, we look for consolidation and look at the PA and Supp/Res.
On D chart, I saw a consolidation with that Master Candle MC but when down to H4, there was a setup when price was within the D chart MC.
There was a potential for that D chart MC breakout and sometimes we get into the market using lower TF when we see a valid setup.
The H4 setup I posted was a valid setup. It drop +150pips when the D chart MC breakout.
It is very important we have an Exit Strategy to manage our trades. In this case of a breakout, I use Jumping Stop Loss which works better for breakout trades.
In trending condition, I use Trailing behind the previous 2 APB candles.

regards,

EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #37,900
  • May 28, 2014 6:23pm May 28, 2014 6:23pm
Quoting emmanuel7788
{quote} Got to cut loss on this trade. -15pips. Time for dinner and watch the sunset. {image}
After cutting loss on that trade, I executed Plan B as recovery trade.
A +26pips quick exit with trade manager.
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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
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