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Trading Made Simple

  • #43,341
  • Nov 6, 2014 9:24am Nov 6, 2014 9:24am
Quoting lorbax
EURJPY, just entered short @15.00 (GMT+2) ...both H1 and H4 agrees... Opinions? anyone on the same ride ? (so I share the guilt ahha) H1 {image} H4 {image} cheers
update ... +37 , trailing with THV_Cave
hope some fellow traders jumped on this too

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Lorenzo
  • #43,342
  • Nov 6, 2014 9:32am Nov 6, 2014 9:32am
Quoting alexandros
Regarding the recommended timeframe eelfranz would have traded the hourlies timezone permitted, (btw I have nothing against trading the 4hr and dailies). Post 2236: Our friends outside the USA.... I believe the London Session is the best sesson to trade... The only reason I trade it on the 4hr charts because that's my normal sleep time. I put my S/L at the previous swing hi or low... so if it swings up and down 30 pips let say... I'm unaware of it because I'm sleeping. If my normal traing hours included the London Session I'd trade it on the 1hr...
First time seeing you here, but I think you missed the point I am trying to make, have you Back-tested the hourly compared to the 4 hour? have you see the R:R on both? Which do you believe is better??
Give yourself a chance and trade it like it's layed out...
  • #43,343
  • Nov 6, 2014 9:46am Nov 6, 2014 9:46am
Quoting emmanuel7788
{quote} Hi Guido, You are correct that my entry was on the 3rd H1 APB candle. Big E H4 trading rule is to use only the 1st and 2nd APB candles only. His trade entry on H4 is very aggresive because he scalp the H4 TDI cross which is seen as counter trend and that are usually reversal trades. But he is very sharp to see market consolidation and catch the reversals. On my H1 chart, that H1 candle where is entered in actually a Fib38/50 rectracement entry. At that time of my trade, I look back at the last 10 candles and they are llarge candles which...
Yes , thank you !
... by the way kicked GA manually out + 35 ..after the price bounced back 70 pips ,
my target was around 120 pips , what was absolutely possible in my H4 chart.
still was a profitable day ( all stilll demo in TMS ) ... but not my expected result ..
Green pips to all of you .
Guido
Risiko birgt immer auch die Chance.
  • #43,344
  • Nov 6, 2014 10:34am Nov 6, 2014 10:34am
Quoting snarlyjack
Notreally, I love "Fester" he was a great actor. Ok...I trade 5 currency's (usd/chf, gbp/usd, eur/usd, aud/usd, usd/jpy) in that order. What I do is what Eelfranz taught us. I start looking for trades on the daily chart at about 9:00 p.m. my time. Then I'll drill down to the 4 hour chart. The 4 hour chart time change is 9:00 p.m., 1:00 a.m., 5:00 a.m., 9:00 a.m. (my times). I'll place the trades then go to bed. I'll get up and check the trades at 5:00 a.m. but mostly I'll let it run until 9:00 a.m., then liquidate out (on the 4 hour). If I'm trading...
You must be a much more patient man than I if you trade all those dollar crosses I hate how slow they are.. I actually just did a slight cleaning of my portfolio, took off 4 pairs that I have never traded in the last year. I focus mostly on EA, GA, GJ, GC, EJ... The ones I trade (much) less often are GU, AU, EN... and I have 3 buffers that I use to determine direction of my "regularly traded pairs", those are EU, NU and UJ...
  • #43,345
  • Nov 6, 2014 10:39am Nov 6, 2014 10:39am
Quoting Bizzzle
{quote}Just a warning pick the right mentors for me it was eelfranz but there are people on this thread trying to over complicate this great system and if you actually do some homework you will find that they are not trading successfully!! best of luck
Oh god, this! Couldn't be more right. Tread lightly fellas... Sometimes more is good, not when it comes to trading though. All those "pattented" setups some people are passing off as very reliable simply are not. You'll get late entries, plenty of drawdown and ask yourself what you're doing wrong, trust me been there done that... Do yourselves a favor and seriously, do what Bizzle says...
  • #43,346
  • Nov 6, 2014 10:41am Nov 6, 2014 10:41am
Quoting snarlyjack
Alexandros, Nice meeting you! Their must be 100 different ways to skin a cat. But what is important is, what works best for you. In my mind the least amount of stress & making the most amount money is best for me. If I could trade the London market on the 1 hour charts I would definitely think about trading the 1 hour charts... Also, the larger the time frame the more accurate the signals. The 4 hour tdi signals are far superior to the 15 minute tdi signals. The daily tdi signals are superior to the 4 hour tdi signals. The daily tdi signals are...
I heard this many times from seniors but I myself have been struggling with H4 trades.......(not making green pips yet). May I see some of your recent successful snapshot of your trades using TMS method so newbies like me have a chance to learn when to enter and exit (if you are happy to share). Many thanks SJ.
Appreciation is the key to wealth and happiness
  • #43,347
  • Nov 6, 2014 10:56am Nov 6, 2014 10:56am
GJ Sell Trade NY session
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Kindest Regards
  • #43,348
  • Nov 6, 2014 12:18pm Nov 6, 2014 12:18pm
Likica,

Nice meeting you.

Here are my last night trades.

You have to realize a couple of things. When I trade before the L/O (Asia session)
I have to do my best to figure out which way I think the market will go for the next 8-12 hours.
So I end up looking very closely at the daily chart for trend direction. I also
realize that the TDI will move around but I still look at it and see where it is.
I'm more concerned with the levels, the APB's and the price channel.

I really like how Emmanuel teaches level's & s/r. Level's are super important!

Hope this helps you.

sj
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  • #43,349
  • Edited 12:53pm Nov 6, 2014 12:37pm | Edited 12:53pm
TMS traders, seniors , can you share how you think about breakout , S&R, Triangles, Channels, etc

How have you set your plan, I have been reading today on babypips about breakout, and fade breakout, I think fade breakout does makes lots of sense, I most of the times think about following the breakout before get burned, most of the times, but now reading on babypips , more experienced traders think about fade breakout instead

Lastingwell , you have mentioned about not trading breakout, how can I implement that in backtesting, whats that you do that tells you not to trade brekaout?
I Have Learned to Take Some Losses to Make Profits
  • #43,350
  • Nov 6, 2014 1:09pm Nov 6, 2014 1:09pm
TheScorpS,

Nice meeting you again.

I trade breakouts. I always look for 1-2-3 patterns. Price breaks the level, retraces back up to the level (retest level)
then breaks again. 1-2-3 pattern. It's a great pattern and way to trade. You might have to do a search function
here on FF for the 1-2-3 pattern for more information.

Emmanuel is really good at the 1-2-3 pattern and can explain it better than I, so I will refer to Emmanuel.

sj
  • #43,351
  • Nov 6, 2014 1:15pm Nov 6, 2014 1:15pm
Quoting snarlyjack
TheScorpS, Nice meeting you again. I trade breakouts. I always look for 1-2-3 patterns. Price breaks the level, retraces back up to the level (retest level) then breaks again. 1-2-3 pattern. It's a great pattern and way to trade. You might have to do a search function here on FF for the 1-2-3 pattern for more information. Emmanuel is really good at the 1-2-3 pattern and can explain it better than I, so I will refer to Emmanuel. sj
Thanks SJ , yes I like 123 breakout , been reading that thread with Dee50, cant get enough of the information there
I Have Learned to Take Some Losses to Make Profits
  • #43,352
  • Nov 6, 2014 2:49pm Nov 6, 2014 2:49pm
GJ_H1 +77 pips after lots of retracement back and forth to entry point but no candle changed color on H1 , took the trade based on H4 and followed on H1

Divergence, Pullback candle on H4 and inside bar
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I Have Learned to Take Some Losses to Make Profits
  • #43,353
  • Nov 6, 2014 4:56pm Nov 6, 2014 4:56pm
Quoting TheScorpS
TMS traders, seniors , can you share how you think about breakout , S&R, Triangles, Channels, etc How have you set your plan, I have been reading today on babypips about breakout, and fade breakout, I think fade breakout does makes lots of sense, I most of the times think about following the breakout before get burned, most of the times, but now reading on babypips , more experienced traders think about fade breakout instead Lastingwell , you have mentioned about not trading breakout, how can I implement that in backtesting, whats that you do that...
I don't like breakouts too much, but generally the idea is I combine trendlines (or other structures) with a good TMS signal. I'd take a breakout trade when I get a candle in the direction I'm trading that breaks above/below and closes above/below and has a good TDI cross. Not much philosophy behind it, as you know I don't like to trade all the weird harmonic patterns (besides ABCD) so I don't put in nearly as much thought into my trading

Congratulations on your GJ trade, by the way... You've gone a long way since our skype room sessions Too bad we don't do those anymore
  • #43,354
  • Nov 6, 2014 6:00pm Nov 6, 2014 6:00pm
Quoting Sesamstrasse
{quote} Yes , thank you ! ... by the way kicked GA manually out + 35 ..after the price bounced back 70 pips , my target was around 120 pips , what was absolutely possible in my H4 chart. still was a profitable day ( all stilll demo in TMS ) ... but not my expected result .. Green pips to all of you . Guido
Hi Guido,

That was an example posted live in realtime, that's how I look at H1 chart and know where the potential is in the higher timeframes.
Then when H4 confirmed a TDI cross and I was already in the market in the H4 APB#1 candle. The trade ran for 4 APB candles now and the 5th APB is still red colour. But looking at Weekly, this is counter trend. The TDI in every timeframe actually tell the big picture of the hgher timeframe.

Eric Franz was a great person and a great trader. When I read his posts in the thread Stochastics Secrets he shared many things on his learning to trade. In 2009, he had already clocked 6,000 hours . We all have to spend that amount of time to learn how to trade this forex market. There is no short cut and the journey will be a long haul one. Being here is FF is only a small part to add to your learning and many things we learn here we will have to spend time and unlearn them. That is how it is. You will need good mentoring outside of FF to make that transformation in becoming a super trader. The transformation has nothing to do with the trading method which forms only a very small percentage of the success equation.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #43,355
  • Nov 6, 2014 6:12pm Nov 6, 2014 6:12pm
Anyone from Germany here trading with TMS and could help/suggest finding the right timeframe and market hours for me (a beginner with TMS). Thanks in advance.
  • #43,356
  • Nov 6, 2014 6:48pm Nov 6, 2014 6:48pm
Quoting lorbax
{quote} I basically wanted to ask you the same.. so, to sum up, on H4 is more important to enter #1 and #2, while on H1 it can be let's say #3 or #4 if there is enough strenght as it is anyway the #1 on H4 ... does it make sense this way ?

Hi Lorbax,

When trading the H4 chart the way Eric did, yes. The best entry is always the APB#1 and #2 candles with the TDI cross.
But when there is a strong establihsed trend, you can also enter in later candles, for example when there is price pullback and the TDI Green comes close to Red and then bouncess off the Red. That is the TDI 12-2 and 4-6 type of condition we look for in an established trend. To se such type of market entry setups, I look for price puulback and consolidation using for example inside bars. There are other ways to see the price pull back in established trends. Look at the candles when market sessions closing, price usually pull back.

Trading H1 is different as I learn the X-Man S3 way how he trade H1. S3 Uses price Action as the 'King'. In TMS H4 trading, the TDI is 'King'.
Exactly what Snarlyjack said, H4 and D charts trading gives the better results but we will find fewer trades. I trade H1 for intraday but always have my eyes on what the H4 is doing and using the candle count and the full TDI, I have a vision of H4 even without the need to change chart timeframe.
I also start the day looking at the D charts to see if there is a TDI cross on D chart, if not, then I zoom out on D chart to see what the day bias is for intraday trading. When D is trending, then I will buy or sell away from the new Day Open. But when D is sideways wide range, I can trade either way - buy and sell.
but H1 trading is more difficult and really rely on our experience on entry and exits. Using CaveManager to manage trades with Capital Protection helps a lot when those nasty price pull backs.

Look back at GBPAUD and EURCAD. Market reaction to major news have big impact on H1 trading. Eric did mentioned in the past, wait for the news to be out, then look for momentum after the news. If there is momenum, he will take the trade setups.
EURCAD was a good example , right after the news, there was momentum and both H1 and H4 gave very good trades btoh with the TDI confirmation.

regards,
.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #43,357
  • Nov 6, 2014 6:52pm Nov 6, 2014 6:52pm
Quoting snarlyjack
Likica, Nice meeting you. Here are my last night trades. You have to realize a couple of things. When I trade before the L/O (Asia session) I have to do my best to figure out which way I think the market will go for the next 8-12 hours. So I end up looking very closely at the daily chart for trend direction. I also realize that the TDI will move around but I still look at it and see where it is. I'm more concerned with the levels, the APB's and the price channel. I really like how Emmanuel teaches level's & s/r. Level's are super important! Hope...
Thanks for your advice on levels, APB's and price channel.
Pardon me that I can not figure out how to get your entries, pls advise which one below is the correct answer for your entries:
a) big arrows marked on the charts (which most of them had big candles so SL would be big too)? assuming they were your entries, did you get in at open of that big candle or wait until it closed and enter at open of next candle?
b) the red vertical line? (then It would have been 2 long entries both AU & GU)
c) the red candle at the time you took the snapshot then it was 3rd APB for GU (too late according to Big E's), AU tdi has not crossed (not confirmed yet).
Thanks again for your time and effort for helping.
Appreciation is the key to wealth and happiness
  • #43,358
  • Nov 6, 2014 7:08pm Nov 6, 2014 7:08pm
Quoting lddd
Anyone from Germany here trading with TMS and could help/suggest finding the right timeframe and market hours for me (a beginner with TMS). Thanks in advance.
The best trading hours for me is one hour before Frankfurt open till 2 hours after New York open.
2 hours after New York opens, it is my bedtime. I wake up just after New York closed, that is in time for me to watch the Sydney exchange open. That is when I trade the Tokyo session for 3~4 hours.

which chart timeframe to trade? well you heard from snarlyjack, the best timeframes are H4 and D. I follow that too but I watch my H1 chart all the time at every 4-hour interval. When I missed one 4-hour cycle, no big deal, I can come back the next hour, or the next, etc.....
When I trade H1, I put in the trade and let a trade manager manage those trades. I do not look at mytrade charts anymore and do other things. When there is H4 setup, I get sound alerts and that is when I look at my charts again.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #43,359
  • Nov 6, 2014 7:17pm Nov 6, 2014 7:17pm
Quoting snarlyjack
Likica, Nice meeting you. Here are my last night trades. You have to realize a couple of things. When I trade before the L/O (Asia session) I have to do my best to figure out which way I think the market will go for the next 8-12 hours. So I end up looking very closely at the daily chart for trend direction. I also realize that the TDI will move around but I still look at it and see where it is. I'm more concerned with the levels, the APB's and the price channel. I really like how Emmanuel teaches level's & s/r. Level's are super important! Hope...

Hi sj,

I learned the different ways to spot the s&r levels in babypips.com.
Here is FF, Strat uses the same and he trades PASR... Long term stress free trading.

PASR= Price Action at Support and Resistance.

When I trade PASR with the TDI, that is PASR+Momentum.

Nice of you to come by and help us. Thank you.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #43,360
  • Nov 6, 2014 7:50pm Nov 6, 2014 7:50pm
Quoting emmanuel7788
{quote} The best trading hours for me is one hour before Frankfurt open till 2 hours after New York open. 2 hours after New York opens, it is my bedtime. I wake up just after New York closed, that is in time for me to watch the Sydney exchange open. That is when I trade the Tokyo session for 3~4 hours. which chart timeframe to trade? well you heard from snarlyjack, the best timeframes are H4 and D. I follow that too but I watch my H1 chart all the time at every 4-hour interval. When I missed one 4-hour cycle, no big deal, I can come back the next...
thanks for your kind reply, appreciate it. Can you tell me how much trades you normally hit like that a month? H4 sounds fine to me too.
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