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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

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Trading Made Simple

  • #43,121
  • Oct 31, 2014 9:20pm Oct 31, 2014 9:20pm
Quoting likica
oil scalping on M1 today bagged +48 green. I did not do well with any fx pair today {image}
From 1M to Daily, you are so versatile. Cool!
Simplicity is the ultimate sophistication - Leonardo da Vinci
  • #43,122
  • Oct 31, 2014 10:52pm Oct 31, 2014 10:52pm
Quoting heispark
{quote} From 1M to Daily, you are so versatile. Cool!
hahaha...trying to move fx to H4 D1 but sort of stumbling here and there ( you know how hard it is to change...)
Oil is my favourite , can't get enough of it since it can produce good pips from even M1 if the price is right (with M5 M15 agree, and note that my M1 chart has M5 and M15 TDI on (not M1 tdi )).I only actively trade it around AM NY.
Appreciation is the key to wealth and happiness
  • #43,123
  • Oct 31, 2014 11:12pm Oct 31, 2014 11:12pm
Quoting emmanuel7788
{quote} You wont find one in this thread except the Master Candle which I posted before. Please look in the attachments of this thread. There are Darvas Box indicator in MT4 but not one works for me. It is very simple to know where the swing high and swing lows just by looking at each bar and every subsequent 3 bars following that swing high or swing low. Simply draw a line on the swing high which have 3 consecutive bars with lower highs than that swing high bar. Do the the opposite for swing low. If you trade with TradeStation, you can find good...
Emman, it s interesting to see your marking after 3rd candle for breakout and it seem working well. I am confused as I read it from somewhere saying that do not enter trade on 3rd candle since it s considered too late:

Nicolas Darvas essentially formed his Box Theory around what many day traders and swing traders know as “The Three-Day Rule.”
This rule of thumb recognizes that big stock moves usually occur over a three-day period: Day One is the beginning of a move, Day Two is a follow-through where traders who missed Day One jump on board, and Day Three is often the day where those late to the party try to join in.
Day traders and swing traders keep this rule in mind because they usually want to avoid buying on the third day of a stock’s strong move.
Some swing traders even utilize the Three Day Rule as the main component of their entire trading strategy. They simply buy breakouts on Day One and sell on Day Three.
Sorry to go off track from TMS. I am exited to learn new thing but I will be silent from here and focus on my charts
Appreciation is the key to wealth and happiness
  • #43,124
  • Nov 1, 2014 3:43am Nov 1, 2014 3:43am
Quoting likica
{quote} Emman, it s interesting to see your marking after 3rd candle for breakout and it seem working well. I am confused as I read it from somewhere saying that do not enter trade on 3rd candle since it s considered too late: Nicolas Darvas essentially formed his Box Theory around what many day traders and swing traders know as “The Three-Day Rule.” This rule of thumb recognizes that big stock moves usually occur over a three-day period: Day One is the beginning of a move, Day Two is a follow-through where traders who missed Day One jump on board,...
I think it was first published by Taylor, you may also have a look at http://www.taylortradingtechnique.net/ for example. Nevertheless, personally I still don't believe in this kind of mechanical swing rules, whether it is Taylor, Elliott or Fibo-Time-Levels - the power of TMS is that you follow what market is telling you, which covers the randomeness of market far better than any static idea of what has to be happened at some defined future price or time level.
Never give up!!
  • #43,125
  • Nov 1, 2014 3:46am Nov 1, 2014 3:46am
Can't trade much because of my work, my work hours gone back to evenings for next week and will be missing the LO as I miss the previous 2 days LO session. I'll try to post my trades before and after as much as I can.

My EA Expectations for November Month

EA Sep Low to Oct High Price Reversal
Attached Image (click to enlarge)
Click to Enlarge Name: EA Daily Fib reversal 61.8.png Size: 278 KB


EA Oct Price Action Completion
Attached Image (click to enlarge)
Click to Enlarge Name: EA current PA short reversal 161.8.png Size: 201 KB


EA Bullish for November if reverses from 61.8
Attached Image (click to enlarge)
Click to Enlarge Name: Why I think we are bullish on EA.png Size: 333 KB


Where can be the potential PT if Bullish
Attached Image (click to enlarge)
Click to Enlarge Name: EA Profit taking on Bullish Pattern.png Size: 377 KB


How to Trade the big picture on your favourite TF
I'll be trading on H4, considering H1 entry
Attached Image (click to enlarge)
Click to Enlarge Name: How to trade based off big picture on shorter TF.png Size: 324 KB


The imageabove is just for reference, something I have been monitoring for some time and looking for simple things while staying away from indicators.
1. Previous day high, Low and middle
2. Previous recent structure on the left
3. Most recent fib retracement and extention (previous day or current day)

Following your big picture look for the most opportune trades in the direction of the trend
1. Scenario 1
What is the ADR of my current pair ?
Am I bullish or bearish ?
PA going coming towards the previous day mid point, where is my TDI and Stoch, Size of the candles ?
If I take trade now should my 1st profit be previous day mid low point and second PT be previous day high.

2. Scenario 2
PA break below Previous day high, TDI and Stoch confirmed
My 1st PT previous day Mid point and 2nd PT previous day Low
TDI and Stoch compliments final TP and fibs can be used when PA moves beyond Previous day high/low

3. Scenario 3
Same as Scenario 1
4. Scenario 4
PA moving away from previous day mid low and reaching Previous day low and extending to the fib level, TDI and Stoch confirmed
5. Scenario 5
PA break below previous day low and break below previous week low bearish trend getting strong, wait for the retest if you missed the opportunity. Once tested and PA followed the bearish trend (30.10.14) go strong on selling.

Same principle applies on Bullish trend when PA break above previous day high, previous week high and previous month high in all cases look for the retest to get the better price and TDI and Stoch confirmation.

Based on the above scenarios 20 pips on 1st target and extra 20 pips on second target may be achieved based on the ADR of the pair.

Other factors to consider:
1. News events
2. Counter trend moves usually retest the breaks including fib levels, previous day mid point, previous most recent structure levels
3. We must be patient enough to wait for these retests before pulling the trigger
4. PA alone cannot serve the purpose, use TDI and Stoch to confirm your entry and exits.

Feel free to comment and leave suggestions. Your EA analysis and planning for next week will be appreciated.
Kindest regards
  • #43,126
  • Nov 1, 2014 5:21am Nov 1, 2014 5:21am
Quoting emmanuel7788
{quote} Hi Kouroushi, Here is a good example. Details and comments on chart below.There is a strong trend but there is first sign of a structure change. Next week, is a good opportunity seen on the chart. See if you can spot that. regards, Have a Good Weekend. {image}
Thank you Emmanuel,
  • #43,127
  • Nov 2, 2014 2:06am Nov 2, 2014 2:06am
Hi emmanuel7788 where can i find Darvas Box indicator
  • #43,128
  • Nov 2, 2014 2:11am Nov 2, 2014 2:11am
Apologies to those who have sent me pm's I've been unable to trade this week because of a situation in the family, I'm answering them one by one and will get to them all today.

Some things I will say in answer to what seems a common theme, I don't trade breakouts of any kind because if you backtest properly you will see that the majority of them don't work as hostwey rightly pointed out. In fact, you don't even have to backtest it, you simply look at the trades that are posted on a regular basis by some traders on this thread and work out for yourself how many of those trades taken actually worked and for how long, and then decide for yourself.

Read eelfranz's posts properly on the TDI. He used the TDI for his entry trigger and also his exit trigger. This is the biggest difference in where people are using parts of posts to justify posting on this thread things that are absolutely nothing to do with TMS or the way eelfranz traded. He said watch for S/R in as much as not to go into a trade if you are running into those areas, he also said watch for consolidation, I can't find in one single instance where he said, once there is a breakout if the tdi confirms it, go in. He used TDI bounces for that kind of entry.

You don't need 10,000 hours of screentime and to know the entire history of forex to know if something is a high probability trade or not. You need to get to know the indicator you've decided to use inside out and that varies from person to person.

You don't have to trade exactly as eelfranz did, it doesn't suit everyone, some people like extra filters, but the principle of the thread should be kept as he wanted it, and that is to teach new traders that it doesn't have to be as difficult as some people like to make out it is. Eelfranz said on many occasions look at the TDI first and PA second, NOT PA first and then glance at the TDI and if its going in the same direction take the trade.

Look at and digest phx62's posts because he keeps it simple, the tdi he uses only updates every hour for a reason, he only needs to know whats happening with it when the candle opens, every hour or every 4 hours or every 15 minutes according to which chart he's looking at. Look at Omonisha's trades as well, they are text book tdi trades, taking s/r into account.

I use the watchdog indicator simply because it alerts me at the beginning of the candle to show me whats happening because I have it set not to refresh until the candle closes and the new one opens, I don't care if it repaints because I don't use it for back-testing there are other ways of doing that, including setting the indicator to log its alerts so you can go back over the file and see for yourself where you might have gone in. I use it for the alerts it gives at the time I'm trading, thats all.

Lets get back AGAIN to what this thread was meant for please, because everything else is confusing the hell out of newer traders and is not what this thread is all about !!
  • #43,129
  • Nov 2, 2014 4:57am Nov 2, 2014 4:57am
Good morning traders!
Hoday , on the holy sunday I did some simulator to get more confidence in the TMS system .
I added to my " normal " template , BIG E posted in the beginning of this thread an MTF (H4) for my hourly template.

During my first entries I got quickly a good lesson , what I and when I can expect " more " pips than now.
This lesson will give me an enormeous boost !

When I trade " with " the MTF H4 in my h1 chart , the moves makes a lot more pips than I expected!

Entries against the MTF ( higher timeframe ) can end up quickly .

That was an amazing lesson , that will give me more and more pips in the future!
I know from other strategies , higher timeframes are much stronger , but in fact to get them earlier and catch that way a lot more of pips
was the lesson of today!
I´m happpy with it .
Will put it to my daily demotrading TMS to get confident.
Wish you all a nice sunday.
Guido
Attached Image (click to enlarge)
Click to Enlarge Name: EURAUDH1.png Simulator 2.11..png Size: 47 KB
Risiko birgt immer auch die Chance.
  • #43,130
  • Nov 2, 2014 5:34am Nov 2, 2014 5:34am
Quoting Sesamstrasse
Good morning traders! Hoday , on the holy sunday I did some simulator to get more confidence in the TMS system . I added to my " normal " template , BIG E posted in the beginning of this thread an MTF (H4) for my hourly template. During my first entries I got quickly a good lesson , what I and when I can expect " more " pips than now. This lesson will give me an enormeous boost ! When I trade " with " the MTF H4 in my h1 chart , the moves makes a lot more pips than I expected! Entries against the MTF ( higher timeframe ) can end up quickly . That...

This picture sums up your post. There is a trend in every chart timeframe. The higher the timframe, the more pips it move.
When trading H1 better to know what H4 is doing.
Decide on which timeframe is our dominant trend when we trade.
Learn to recognise the market conditions and know when to stay out when market is sideways narrow range. This when TMS method will fail.

Attached Image
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #43,131
  • Nov 2, 2014 5:41am Nov 2, 2014 5:41am
Quoting firas1980
Hi emmanuel7788 where can i find Darvas Box indicator

Hi firas,

Sorry, I already posted and mentioned that there is no MT4 Darvas Box indicator which worked for me. Learn to see the price bars swing highs and lows, then identify where the next 3 bars are consolidation bars which. I trade the consolidation breakouts with the TDI as my momentum direction. Back-tests will help you learn quicker.

However, if you use TradeStation trading platform, there are available indicators.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #43,132
  • Nov 2, 2014 5:55am Nov 2, 2014 5:55am
CaveManager EA *update*

A lot more PMs the last 2 days on this CaveManager Expert Advisor.
I have put together a short description with some trade charts examples on how to use the various features and the corresponding parameters settings.
Next week, I will try find some TMS trade setups and run CaveManager to manage the trades live. But I have family members escaping the cold northern hemishere and to enjoy the warmer summer here DownUnder. I have to find a work life balance next week.

Next week I will then update the short description with the live trade examples. When completed, I will PM each one to download the pdf from dropbox. Please be more patient with this. This will take time next week to live test the variations in the Exit Strategies some of you wrote in your PMs. They were very useful in helping me focus on the common Exit Strategy you all have. I learn from you too. Thanks for sharing them with me.
Last week, a few trades did not run in full profit potential because the Capital Protection and Jumping SL were very tight and that will not work our when some pairs were narrow range and the news factor affected some trades.

Two members asked about skype groups. Well there were a few groups started year back and today I only know of two remaining active ones. I was invited to join them and I see one group of five traders who are trading very well together during the London sessions. But unfortunately due to my time constraints I was not a regular member in that group. We chat last night and I learn that they were doing well with average win rates of between 60% and 68% for Oct month. Well done guys and gals.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #43,133
  • Nov 2, 2014 7:16am Nov 2, 2014 7:16am
Quoting lastingwell
Apologies to those who have sent me pm's I've been unable to trade this week because of a situation in the family, I'm answering them one by one and will get to them all today. Some things I will say in answer to what seems a common theme, I don't trade breakouts of any kind because if you backtest properly you will see that the majority of them don't work as hostwey rightly pointed out. In fact, you don't even have to backtest it, you simply look at the trades that are posted on a regular basis by some traders on this thread and work out for yourself...
Thanks Lastingwell!Sonetimes a few loses will steer us to modify the system. Adding indies here and there. You are right. We should just stick to how big Ellfrance traded cause he proof that it is simple and profitable. Thank you for steering us back on track.And it's good to see you back! Green pips! Fxtrain
  • #43,134
  • Nov 2, 2014 7:39am Nov 2, 2014 7:39am
Quoting lastingwell
Apologies to those who have sent me pm's I've been unable to trade this week because of a situation in the family, I'm answering them one by one and will get to them all today. Some things I will say in answer to what seems a common theme, I don't trade breakouts of any kind because if you backtest properly you will see that the majority of them don't work as hostwey rightly pointed out. In fact, you don't even have to backtest it, you simply look at the trades that are posted on a regular basis by some traders on this thread and work out for yourself...
Good post by IMO, because with break out trades, you will mostly be going long, when institutional activity is looking to sell, and going short, when institutions are looking to buy. Good luck with that.

Traders also loose money fading, being unable to correctly identify a top or bottom edge can rapidly end up in a 'catch a falling knife' scenario.

Paying attention to market structure, and liquidity build ups (or lack of it). Possible very experienced traders like BigE were able to internalise this without too much 'thinking' about it (a bit like driving a car in a state of automaton).

Rather than thinking about 'inside bars' or 'master candles' think what they actually represent. In particular who the participants are in this drama are likely to be.

That is pretty much all I've got to say about TMS, as I no longer trade the system, not because it is a particular bad system, but it requires rather too much risk for my liking. Don't be fooled into thinking you need to trade H4, or Daily charts, with 30-40 pip stops or more. Hedgies/algo'setc will be looking for areas on the chart with 1 or 2 pip stops at most, only retail traders falls for that one.
  • #43,135
  • Nov 2, 2014 8:09am Nov 2, 2014 8:09am
Quoting Sesamstrasse
Good morning traders! Hoday , on the holy sunday I did some simulator to get more confidence in the TMS system . I added to my " normal " template , BIG E posted in the beginning of this thread an MTF (H4) for my hourly template. During my first entries I got quickly a good lesson , what I and when I can expect " more " pips than now. This lesson will give me an enormeous boost ! When I trade " with " the MTF H4 in my h1 chart , the moves makes a lot more pips than I expected! Entries against the MTF ( higher timeframe ) can end up quickly . That...
I have done my daily back-testing as well, very good results so far and continuing in the right path, I guess after doing this 100s of hours, you get to know the power of TMS

Its simple in the sense if you do the work, you get to know the setup, and later on the exits, which completes the trading cycle, add to that Money Management, and the market will work for us instead
I Have Learned to Take Some Losses to Make Profits
  • #43,136
  • Nov 2, 2014 8:48am Nov 2, 2014 8:48am
Quoting lastingwell
Apologies to those who have sent me pm's I've been unable to trade this week because of a situation in the family, I'm answering them one by one and will get to them all today. Some things I will say in answer to what seems a common theme, I don't trade breakouts of any kind because if you backtest properly you will see that the majority of them don't work as hostwey rightly pointed out. In fact, you don't even have to backtest it, you simply look at the trades that are posted on a regular basis by some traders on this thread and work out for yourself...
Excellent
  • #43,137
  • Nov 2, 2014 8:55am Nov 2, 2014 8:55am
Quoting fxtrain
{quote} Thanks Lastingwell!Sonetimes a few loses will steer us to modify the system. Adding indies here and there. You are right. We should just stick to how big Ellfrance traded cause he proof that it is simple and profitable. Thank you for steering us back on track.And it's good to see you back! Green pips! Fxtrain
I think if people need an extra indicator as confirmation it doesn't really hurt as long as they've back-tested and its an asset to their own chart, but the core of the thread should stay about the indicator we have all on this thread chosen to use. Entry should be about the TDI and its behaviour at the time, if thats the thread you're on.
  • #43,138
  • Nov 2, 2014 9:08am Nov 2, 2014 9:08am
Quoting lastingwell
{quote} I think if people need an extra indicator as confirmation it doesn't really hurt as long as they've back-tested and its an asset to their own chart, but the core of the thread should stay about the indicator we have all on this thread chosen to use. Entry should be about the TDI and its behaviour at the time, if thats the thread you're on.
So true..
  • #43,139
  • Nov 2, 2014 9:13am Nov 2, 2014 9:13am
Quoting TheScorpS
{quote} I have done my daily back-testing as well, very good results so far and continuing in the right path, I guess after doing this 100s of hours, you get to know the power of TMS Its simple in the sense if you do the work, you get to know the setup, and later on the exits, which completes the trading cycle, add to that Money Management, and the market will work for us instead
absolutely correct !
I did the same with the Dance/Choros strategy or style , however you wanna call it .
and it was the same .... from that moment I saw damn .. it works and I produced more greed pips than red pips in the simulator ,
from that moment I knowed it it will also work in live.

In the TMS system I´m really new and need to train my skills before I go live with TMS
But I added it since a couple of weeks to my daily trading.. .. just on a seperate demo account.
In the choros thread always give the advice : Use the simulator a lot .. in this way you can build your confidence to the system
on the quickest way.
I´m really happy with the first " demoresults " ..
also very nice people around this thread..
All of you get a like
Wish you all a nice sunday.
by the way.. I made today in 2 hours simulator 430 pips with TMS only in EAUD. ..
Guido
Risiko birgt immer auch die Chance.
  • #43,140
  • Nov 2, 2014 9:17am Nov 2, 2014 9:17am
Quoting hostwey
{quote} Good post by IMO, because with break out trades, you will mostly be going long, when institutional activity is looking to sell, and going short, when institutions are looking to buy. Good luck with that. Traders also loose money fading, being unable to correctly identify a top or bottom edge can rapidly end up in a 'catch a falling knife' scenario. Paying attention to market structure, and liquidity build ups (or lack of it). Possible very experienced traders like BigE were able to internalise this without too much 'thinking' about it (a...
Thanks for the post Hostwey, you illustrate my point really well, you have found that the tdi entry does not suit the way you want to trade, so you have stopped posting on the thread. You could have carried on posting on here, adding the things you are talking about and just put the tdi on the chart to look like you were using it when actually you're not, but you didn't and thats how it should be. If you don't believe the tdi can give you a good entry, then don't post on a system thread that uses it. You're an excellent trader and however you're going to trade I wish you the best of luck
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