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Trading Made Simple

Quoting Phx62
This weeks trades on EA H1. The first three were posted earlier. Pretty easy trades and a couple of them gave up more pips that I missed but overall, a good week.{image}
Thanks Sir for posting again

I always remember how you master a trend follow strategy, and to this day, my way of trading is counter trend trading, is there anything you can shed the light to really start following the trend and not just thinking the trend is over
I Have Learned to Take Some Losses to Make Profits
Thanks Phx62, regarding that last trade of the week I noticed the TDI green was below red. At the time you took that trade had it crossed up above red? or was there some other factors which made you go long?
Quoting Phx62
This weeks trades on EA H1. The first three were posted earlier. Pretty easy trades and a couple of them gave up more pips that I missed but overall, a good week.{image}
Many thanks for your post Phx62. Always regard your posts as something of a trading master-class from which we can all learn so much.
Quoting TheScorpS
Look at the power of London open price , if you sell the last 3 days on Gold just at the London open price, you would make load of pips Now open EA chart on H1 , buy all the London open price of the week just ended Again open EJ H1 chart, and do the same I mean just sit relax and almost blindly open trade on a trending market at LO open price, I think by the end of the week you would gain more than you loose, now use all you learnt about TDI and Price Action and apply what I mentioned above Use H4 to help determine if best to take LO open price,...
You're not wrong TheScorps. For a long time I've had on my charts a horizontal line that runs from the LO to the session close. Trading away from the open can be a profitable technique.
I cannot compete with the hourly traders as my timelines are very similar to Big E's trading times. I know Phx62 is based in Arizona so has similar time zones but has more screen time and his hourly results are second to none .

For that reason, I use the TDI Trade Signal Line from the Day charts as my day trend guideline and run my screen set ups between 8pm and 9:30pm PDT, although I do check charts in the morning.

When the Day TSL is moving higher, H4 TDI crosses to the upside are very powerful.

My current trade on EA was taken off of the day chart only as I have had very limited screen time recently and in hindsight could have been taken a day earlier with the candle pattern from Friday/Sunday/Monday, with the Monday close engulfing the Friday candle.

With the times that I am in front of the screen, my earliest entry would have been Monday between 05:30 and 06:00 PDT (NY Open) which equates to the 12:00 candle on H4 (from a Price Action perspective this would be close to taking the entry off of the day close on Monday). Overall this is still a strong uptrend so may still have long entry possibilities with additional TDI bounces / crosses if PA stalls.

TDI TSL on H4 was moving higher with a confirmed TDI cross and the Day TSL was also moving higher but no TDI cross, so supporting data from both timeframes.

From how I view the charts, the trade would be left to run so long as the Day Chart TDI is moving higher - I would ignore the down H4 TDI cross on the 10th/11th as it contradicts the Day TDI TSL. Another option is to use the 10MA that Scorps uses, but as a day trend guideline - usually mirrors what the Day TSL is doing.

Trading the higher level timeframes has less entry possibilities so requires lots of patience waiting for the A+ set-ups and you are looking for 100pip plus trades, so this pair works nicely with the current ATR7 being at 127pips.

These charts also show the difference between hindsight trading and live trading - hindsight trade = 390pips - real time trade = 212pips - It's still a good week.
Attached Image (click to enlarge)
Click to Enlarge Name: H4 - Day TDI EA 9-13-2014.gif Size: 103 KB
"To live with Passion, it takes Courage and Grace to survive"
CAD/JPY is on the watch list

TDI rolling over on the Day chart and pushing away from the 97.000 level. H4 TSL already heading lower.

Waiting for PA confirmation on Sunday/Monday open - I would like to see the TDI break below 68 on the Day chart for an entry.
Attached Image (click to enlarge)
Click to Enlarge Name: CAD JPY 9-13-2014.gif Size: 99 KB
"To live with Passion, it takes Courage and Grace to survive"
Quoting TheScorpS
Ok TMS London opens in an hour, so I have my free time now at work, what I do is use this free hour to do backtesting, in doing so you remember the formations, TDI behaviours , timings etc Doing this everyday I remember as Xman used to say, ie backtest at least a month data every day before market opens is the best thing I have done since Feb 2014 and will continue doing so until I reach my goal
So when you say back test, does it mean looking back at previous charts to look for entry setups or to know the market?
I'm free on weekends so I'd sit down and read the charts, but all looks great when the market isn't live.
When it goes live I'm always at a loss. I can't decide if I should buy/sell.
Times I've entered on a strong TDI cross just to see it reverse the next hour and hit my SL.
I'm not very good at this, I know, but somehow I feel that this system is worth it.
Would really appreciate help and pointers along the way.
I see the power of the 10EMA, and will learn to use and love it.
Oh, and thanks for the indi's and templates. Couldn't get my own sessionsAsian to work. yours seem fine!

By the way, just like to say thanks to everyone here on the thread.
It's been very helpful!
Cheers and to all green pips for the days to come!
Quoting usdtrader
Thanks Phx62, regarding that last trade of the week I noticed the TDI green was below red. At the time you took that trade had it crossed up above red? or was there some other factors which made you go long?
I mostly trade the London session so I have lots of practice there. The trend was up all week and when the second London candle broke above the previous two candles, I took a chance and went long. The TDI had not crossed but I expected it to cross long eventually. It took a while to reach the target but finally made it. I set my alarm for each new hour and checked each new candle and would have exited on a closed red candle.
Quoting Phx62
This weeks trades on EA H1. The first three were posted earlier. Pretty easy trades and a couple of them gave up more pips that I missed but overall, a good week.{image}
Thank you phx62 for posting your weekly charts again as they are motivation for all of us. Superb trading and simplicity with best results. I have question about your second BE trade. Did you move your "nolossafterpips" settings at trade manager to less pips? As I remember you keep it at 20 to 25 pips in your PDF's. Also do you only concentrate on single pair with highest ADR rather then looking at few others. In the past you have replied to my inquiry and suggested 5 to 6 good entries all we need, so I am assuming one pair for week and then wait for perfect setups in right timings.

Thanks in advance sir,
Hoperich
Quoting Arkhambliss
My bad KMW. I just assumed everyone else was trading at the same time as me haha. Newbie to ForexFactory here. Yeah Likica, GBP pairs was crazy up and down. Pretty bad day today. Looking at your charts, yYou gave me an idea about having 3 TDI indicators for scalping on M15 though for DAX and USOil. Will test it next week. Thanks. Question: Which one is better? Dean Malone's TDI indicator or the TMS Watchdog that you have Likica? Can you put bollinger bands on the TMS Watchdog indicator? Thanks.
Arkhambliss, my winners are those div set up on M5 for Oil and US30 during NY and US cash markets whether having 2 tdi with Stoc and AO or 3 tdi as long as both tdi are not >68 or <32 areas. I dont really notice the differences between DM' s or TMSWDog , I only pay my most attention to price actions. Therefore, if you ask me about BB bands or more, I don't have accurate answer.
For me, PA is the Queen which mean $$$$$$$. indies are good tools but having too much fun with indies , that when my account got hurt
Appreciation is the key to wealth and happiness
Quoting froglicker
{quote} So when you say back test, does it mean looking back at previous charts to look for entry setups or to know the market? I'm free on weekends so I'd sit down and read the charts, but all looks great when the market isn't live. When it goes live I'm always at a loss. I can't decide if I should buy/sell. Times I've entered on a strong TDI cross just to see it reverse the next hour and hit my SL. I'm not very good at this, I know, but somehow I feel that this system is worth it. Would really appreciate help and pointers along the way. I see...
The best advice I can tell you about is stay with TMS, it wont work in a month or 2, I stayed 2 years learning all I could about FX and TMS and just recently I am getting better but not where I wanted to be, still a lot of time needed but by staying with one thing , you get to learn every little pieces of the buzzle, like a mother that knows what her child wants, needs, feels, sick, happy whatever, but only her that knows about that in sense of every little details that no body else in the world would be able to sense the same

Backtesting , I went in time to the max that my boraker allows in months, so that is 2013 Jan, then on everyday basis I would do a month of backtesting using F12 by going forward 1 candle on H1 at a time and decide for entry , I made some folders on TDI and PA wish that is with me in work to give you an idea of how those folders are structured, lots of them with lots of details, I will look for TDI crosses, timings, PA candlestick pattern, LO open price, what happened in the Asian market, what happens in NYO market, Trend following, countertrend, EMA 10 and many more and then will try to remember all this at the time of trading, doing backtesting every single day before market opens, my local time LO opens at 10 a.m., I will back test a month of data at around 8 a.m or 9 a.m

At the time of starting learning about FX and TMS, I didn't believe in doing daily backtesting, but after I started this project, I can tell you that its the most important thing that I have done since Feb 2014 and will continue doing so no matter how long it takes, after time you get to love backtesting and it becomes fun doing so, in that I would like to reach 70% win rate when I backtest , but to this time I am still not there , when I reach that I think then on live trading will reflect the percentage I have reached on backtesting , but that will take time

I have this tip that I would like to share about EMA 10, and hope that doesn't upset TMS traders, in a strong trending market, often you would see price closes above or below ema 10 with cross of TDI, you take the trade following the cross of TDI candlestick pattern, and the moment you opens the trade it reverses, I use that as a no trade in a trending market, since PA will just close below or above EMA 10 and reverse the second you enter, you might even enter on the opposite direction of what TDI and PA is telling you and could get the best price for entry and the best trade for following the trend, open EA, EJ, GJ H1 chart for the last week and look for this behaviour

I am doing just EU backtesting and try to apply what I learn there on other currencies that I believe behave in the same manners as EU regarding price action and TDI

Ok hope this helps , now let me know how can I help to activate your Asian Session indicator, anything else am here to help

Thanks and good luck
I Have Learned to Take Some Losses to Make Profits
Quoting froglicker
{quote} So when you say back test, does it mean looking back at previous charts to look for entry setups or to know the market? I'm free on weekends so I'd sit down and read the charts, but all looks great when the market isn't live. When it goes live I'm always at a loss. I can't decide if I should buy/sell. Times I've entered on a strong TDI cross just to see it reverse the next hour and hit my SL. I'm not very good at this, I know, but somehow I feel that this system is worth it. Would really appreciate help and pointers along the way. I see...
I can relate to you. Most of trades I took during Asian session failed regardless of good TDI angle. I now only focus on LO onward. You might consider changing your trading hours to collect green pips and stick with 1 or 2 pairs (this is a reminder to myself ).
Since we saw Phx62 and The Scorp showing their beautiful trades on EA EJ during LO. The easiest way for us is to follow their style by study their charts and reasons for their trade (time to enter trades, price at S/R, candle formation, price pullback,....). The keys I noticed from Fhx62's trades are cutting losses and letting the winners running... ahem....I m in the process of doing it , (Dont like to say I am still struggling)
Appreciation is the key to wealth and happiness
Quoting likica
{quote} I can relate to you. Most of trades I took during Asian session failed regardless of good TDI angle. I now only focus on LO onward. You might consider changing your trading hours to collect green pips and stick with 1 or 2 pairs (this is a reminder to myself ). Since we saw Phx62 and The Scorp showing their beautiful trades on EA EJ during LO. The easiest way for us is to follow their style by study their charts and reasons for their trade (time to enter trades, price at S/R, candle formation, price pullback,....). The keys I noticed...
Thanks

At a time I was trading Asian or Frankfurt, and then shifted entirely to trading LO, sometime I see the best setup on FO, I will not take it, since I still didn't implemented Asian or FO session into my back-testing, so that will come with time and more experience

So now basically I wait London Opens, and then decide if I take the LO open price or wait after for entries
I Have Learned to Take Some Losses to Make Profits
Quoting Britpip7
CAD/JPY is on the watch list TDI rolling over on the Day chart and pushing away from the 97.000 level. H4 TSL already heading lower. Waiting for PA confirmation on Sunday/Monday open - I would like to see the TDI break below 68 on the Day chart for an entry.
I've been learning candles on another website. The down candle right at the top seems to me to be an inside day candle.

I quote the article on them. (I believe it is a must to have the Bollinger Bands on the chart, to take the best Inside Day pattern as a reversal signal. And I am not alone. I know so many professional stock and currency traders who emphasize on having the Bollinger Bands on the charts to trade the Inside Day candlestick. Inside Day works as a good reversal signal when there is a visible Bollinger Upper or Lower band breakout either by the first candlestick, or the second candlestick, or preferably both.)

Appears to me to meet the conditions for a sell, That BB is in the right place and if so it's another confirmation for us. Notice another inside day the last swing high as well. BB confirming that one as well.

On my watch list for the morning, thanks for the heads-up Britpip
Attached Image (click to enlarge)
Click to Enlarge Name: inside.png Size: 15 KB
The glory of a mans life belongs to the gardener
Quoting Kmw
{quote} I've been learning candles on another website. The down candle right at the top seems to me to be an inside day candle. I quote the article on them. (I believe it is a must to have the Bollinger Bands on the chart, to take the best Inside Day pattern as a reversal signal. And I am not alone. I know so many professional stock and currency traders who emphasize on having the Bollinger Bands on the charts to trade the Inside Day candlestick. Inside Day works as a good reversal signal when there is a visible Bollinger Upper or Lower band breakout...
Hello Kev,
Can you please tell us the title of the article.
Thanks.,
Kan
Thanks for your help, warmth and straight talking Heather.
Quoting Kmw
{quote} I've been learning candles on another website. The down candle right at the top seems to me to be an inside day candle. I quote the article on them. (I believe it is a must to have the Bollinger Bands on the chart, to take the best Inside Day pattern as a reversal signal. And I am not alone. I know so many professional stock and currency traders who emphasize on having the Bollinger Bands on the charts to trade the Inside Day candlestick. Inside Day works as a good reversal signal when there is a visible Bollinger Upper or Lower band breakout...
Agreed on the inside candle set-up. The current day trend is strong but the TDI is showing that momentum has dropped off significantly so looks good for PA to continue and break the mother candle from Wednesday. I have not spent any time with BB, so I'll defer to you on that set up. Happy pip hunting
"To live with Passion, it takes Courage and Grace to survive"
I've not myself had much to do with BBs either Bitpip, never understood them much. It was the recommendation pointing out the effect of them as I read the page that impressed me. Tempted to get up on opening 5 am my time to see what happens.

Sent you a message Kan
The glory of a mans life belongs to the gardener
Quoting lastingwell
{quote} In your terminal window, click on File at the top, then Open Data Folder: {image}
thanks lastinwell, that worked. appreciate your efforts likica aswell.

i've done enough reading on this and i feel it's not as straight forward as it was explained by E, bless him.

can someone please tell me what has worked out to be the most succesful for you all 1H or 4H since london open?

Kind Regards
Quoting mahk90
{quote} thanks lastinwell, that worked. appreciate your efforts likica aswell. i've done enough reading on this and i feel it's not as straight forward as it was explained by E, bless him. can someone please tell me what has worked out to be the most succesful for you all 1H or 4H since london open? Kind Regards
Undoubtedly for me the most success I've had is watching the H4 timeframe at the same time if trading H1 and the Daily if trading H4, I vary how I look at things very often including the various tdi indicators because I get bored sometimes but its always with the same idea behind it
Quoting zhangshuo
{quote} hi, Emmanuel: sorry to bother you with this, but I saw u r using this TMS monitor. Can I ask you how u get it to show more pairs? Right now when I try to add more pairs they don't really show on the monitor. Are those pairs on your screenshots all we can get? Also there is something about its installation (from the original thread) I don't understand: '4. Open a chart of your choice and compress it by dragging the mouse left button down on the right side of the chart.' Can you explain to me what the author meant by this? Thank you for your...
Hi Shuo,

You can ignore the step 4.
There is another way to run the EA on a blank chart.
The answer is in the TMS Monitor thread post#96.
Please ask questions in that TMS Monitor thread and we keep this TMS thread for 5-Method trading discussions and sharing.
Thanks.

Trade Well.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
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