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Trading Made Simple

  • #43,521
  • Nov 10, 2014 12:40pm Nov 10, 2014 12:40pm
Quoting snarlyjack
WDays, I totality agree with you. I also traded the LEI system. I found that the lower time frames are very difficult to trade (15 minute chart). The reason they dropped the tdi was for speed on the lower time frames. I trade the 4 hour tf's. The primary reason is, where I live & the L/O. I've always used the TDI. Is it perfect, no. But it's still very good. The reason I added the long term guppy's is it help's me nail the trend before I place my trades and go to bed. It gives me warm fuzzy's. The Pac (price action channel) after years of watching...
Mr snarlyjack, how are you. I used to read this thread long time ago and I stop doing it for personal problems, but I decide to start again, well I hope all the indicators still the same, I remember printing this post and reading on the bus to work lol.
My question is... If trading the first 3 hs of NY session is ok?
If I decide to trade 4 hs chart, at what time I should check for setup of TDI? Because I get confuse with the first post " . I only trade 1hr charts during the the 1st 3 hours of the USA OPEN and 4hr trades at night. I check for set ups at 10pm Pacific,2am and close all 4 hour trades by 6am Pacific....
I live in New Jersey and 10 pacific is 1 am in New jersey and I should closed all my 4 he trade at 6am pacific ... Like 9 am new jersey ? Is that correct? Thanks.
  • #43,522
  • Nov 10, 2014 12:49pm Nov 10, 2014 12:49pm
took long on USDCAD, i have it on BE+2
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Daniel
  • #43,523
  • Nov 10, 2014 12:57pm Nov 10, 2014 12:57pm
Quoting Greenb
took long on USDCAD, i have it on BE+2 {image}
Good job I like your entry very much
  • #43,524
  • Nov 10, 2014 1:13pm Nov 10, 2014 1:13pm
Chiche,

Welcome back to TMS, imho it is a great system.

Good question's, I have to give examples with my 4 hour times.

In my time zone the 4 hour chart prints a new apb at 9pm, 1am, 5am, 9am, 1 pm & 5 pm.
Their are 6 apb's (4 hour chart) in 1 daily apb.

I'm getting lazy in my old age so I try to look at the apb's every 4 hours. I have found that
the 9am thr 1pm apb's in the N/Y is slow/trending. Because it's lunch time in N/Y.
After lunch the market picks up again.

I try to enter my trades at the 9 pm apb (Asia session) and follow it through until I get a exit signal.

***Another secret to trading, your success is not dependent on 4 or 5 trades, your success is
dependent on the next 100 trades. So if you have a loser, take your loss (understand why) and move on
to the next trade. ***
  • #43,525
  • Nov 10, 2014 1:27pm Nov 10, 2014 1:27pm
Following the rule: looking to take this long on E/A at the close of the 4 hour candle at 20.00 GMT. Break of IB + TDI cross, which should be at a good angle once this candle closes + 3rd APB candle

Any thoughts would be much appreciated
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  • #43,526
  • Nov 10, 2014 1:49pm Nov 10, 2014 1:49pm
Quoting WDays
{quote} Good job I like your entry very much
thx m8.
i got the entry right, now all i need to do is get the exit right and hope that it giveth instead of it taketh.
Daniel
  • #43,527
  • Nov 10, 2014 1:51pm Nov 10, 2014 1:51pm
Quoting kingdomk
Following the rule: looking to take this long on E/A at the close of the 4 hour candle at 20.00 GMT. Break of IB + TDI cross, which should be at a good angle once this candle closes + 3rd APB candle Any thoughts would be much appreciated {image}
following the rule would mean only 1st and 2nd apb candle for entry wouldn't you think?
Daniel
  • #43,528
  • Nov 10, 2014 1:59pm Nov 10, 2014 1:59pm
KingdomK,

Nice meeting you. I like your user name by the way!

I do not trade the E/A so I have no comment on the trade.

Imho, in forex simple/easy charts are better. You have way to many s/r lines and
things going on. Check out one of my charts and see if you can make your's easier to read.
If your trading the 4 hour chart, use the daily s/r lines.

Just a suggestion for you, to get you going in the right direction of the kingdom...
  • #43,529
  • Nov 10, 2014 2:18pm Nov 10, 2014 2:18pm
Quoting snarlyjack
KingdomK, Nice meeting you. I like your user name by the way! I do not trade the E/A so I have no comment on the trade. Imho, in forex simple/easy charts are better. You have way to many s/r lines and things going on. Check out one of my charts and see if you can make your's easier to read. If your trading the 4 hour chart, use the daily s/r lines. Just a suggestion for you, to get you going in the right direction of the kingdom...
Thanks you GreenB and SJ. I plotted the S/R with the monthly, weekly and daily turning points on a line graph. The 'big picture planning' which plotted many S/R lines. I will take your advise and try to reduce these. I aim to trade 4 hour, I choose E/A simply because it has a high ADR value. I want to stick to 1 pair because I have been trying TMS for a couple of years now without much success. Not faulting the system, but definately need guidance in personal development.

Which pair would you say would be best to start with?

I will try simplify my charts to just include the weekly/daily S/R levels. I bottled it and didn't take the long on the E/A trade, my spread is 9 pips!!

Thank you guys!
  • #43,530
  • Nov 10, 2014 2:43pm Nov 10, 2014 2:43pm
KingdomK,

The spread of 9 pips seems very high to me? But I don't trade that pair, so?

I learned to trade on the 3 amigo's.
eur/usd, gbp/usd, aud/usd.

Those were the 3 pairs that Big E suggested to me when I asked him the same question.
Just demo trade for awhile and see how it goes. It is more important to learn how to
trade correctly than to try to make a bunch of money. Zero in on the trading process.
Learn the system like the back of your hand then flow with it...

Hope this helps you!
  • #43,531
  • Nov 10, 2014 2:46pm Nov 10, 2014 2:46pm
Thanks so much for you answer. Mr Snarlyjack
DID SOMEBODY took this trade this morning? 1h time frame and the trade was in the vertical line.
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  • #43,532
  • Edited 3:01pm Nov 10, 2014 2:50pm | Edited 3:01pm
Quoting kingdomk
{quote} Thanks you GreenB and SJ. I plotted the S/R with the monthly, weekly and daily turning points on a line graph. The 'big picture planning' which plotted many S/R lines. I will take your advise and try to reduce these. I aim to trade 4 hour, I choose E/A simply because it has a high ADR value. I want to stick to 1 pair because I have been trying TMS for a couple of years now without much success. Not faulting the system, but definately need guidance in personal development. Which pair would you say would be best to start with? I will try simplify...
My experience with trading just 1 pair leads me to believe that this is a sure way to overtrade. Having just one pair in your potfolio means you may not get setups for weeks at a time, which ultimately will make you want to take trades that aren't there. People are different, what didn't work for me at all worked marvels for Phx amongst others. I have a 12 pair portfolio and I choose the best cross I can among the 12 pairs every morning and sometimes in the afternoon. I've expanded my trade-taking hours to LO and the hour that opens right after, same for NYO and the hour after NYO, because I've found that sometimes market open hours are the setup candle that I'm looking for, and not the entry candles. That being said, taking a trade at 8pm will sometimes yield pips, most times it will lead to drawdown and potential losses because there's not much to fuel market moves at that hour. Be careful WHEN you trade, not just what you trade.

Quoting Bizzzle
GU TP hit 44pips PA made a LH and TDI was already down we had a triple top and bounce of strong resistance! Risk was 20 pips Reward 44 pips {image}
Very well done, as always bro Keep up the good work, there's much to learn from your trades!

Quoting moretti12
Hi Wdays... I really admire your teaching enthusiasm on this thread, keeep it up man If you find time can you please clarify what exactly you are looking for on the MTF indicator... ps. do you only trade the first couple of hours of the london session and the london/NY overlap?
Hey, it's hardly teaching.. I'm just passing on the little things I've picked up by watching the pros at work, which often times can be the difference between being a successful trader and banging your head against the wall and wondering what the hell you're doing wrong.

Like I said in the previous post, I expanded my trade-taking hours from just session overlaps to the hour that comes right after. In other words, I look for trades at LO or if I've no setup then, I wait for the LO candle to set something up and take the trade at the open of the next hourly candle. Same goes for NYO.

As far as the MTF indi goes, I'm just following Lastingwell's advice and keeping an eye on what the higher timeframe TDI is doing. If it's hooking or crossing, the MTF indi on my H1 chart will produce a step. If I've an H1 cross as well as an H4 step, I will definitely take the trade. If on top of everything else H1 and H4 happen to cross at the same time (more or less), I will not only definitely take the trade but I will have higher expectations from it. I have yet to actually catch the latter setup and leave my trade running for hundreds of pips, but I'm sure it will happen... I also need to work up the nerve to keep trades open longer without trailing too close like I did earlier :/ But you never stop learning in this business, and I suppose that's the beauty of it
  • #43,533
  • Nov 10, 2014 3:59pm Nov 10, 2014 3:59pm
Quoting Wqiang
Trading was never easy. For GBPUSD, short at the second APB with TDI crossing down. For EURJPY, short at the bigger bearish APB candle as it closed below last friday low with Green line below the red line and MBL. Lost 20 pips each.... {image} {image}
Wqiang,

Trading is actually quite easy. It is the discipline to follow one' trading plan and to execute the entries and exits with strict discipline which will differentiate the great traders from the rest.

When trading in the lower TF like H1,
1) always pay attention to the big round numbers, GU at at 1.5900. Market always react around these BRN sometimes as much as +/- 50 pips.

2) market timing, know what hour it is at the time of your trade entry.

3) trading with the TDI, be in sync with it, follow its rhythm (Bolero by Maurice Ravel).
Look at the VB, to see if that is narrow, narrowing, or it is wide and widening. Hint: the TDI period used.
Avoid trading into the rising MBL. Use the H1 MBL as your H4 TSL.
Then when both the H1 PL and TSL crosses the MBL on H1, its is like the H4 PL crossing the H4 TSL, confuse?

4) know your HA candles well. They are your advanced warning of potential phase change in the price. Wait for the APB to confirm a new phase changed and that must be confirmed by the price momentum which the TDI will show you. Hint: HLCC average.

5) use the previous days OHLC as your support and resistance, no need for any indicators, learn to trade away from the Day Open and follow basic TMS entry only on APB/HA candles#1 and #2 only and this applies when trading in any TF.

I notice you have many things on your chart and if you do not use them, then please get rid of them. But those H4 high-low seen on your charts, if you use them correctly you would have stayed out of the EJ H1 trade after your consider 1) to 5) above.

Now, you can do your own 'trade autopsy' and see whether your trade plan has these considered. You decide if you want to fine tuned your trade plan and to include the common H1 setups to trade with. You shold have no more than 5 H1 setups which you will repeated look for day-in and day-out.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #43,534
  • Nov 10, 2014 4:06pm Nov 10, 2014 4:06pm
Hello, I have some quick questions... 1) The TMS is best when trading in 1 hour or 4 hour trade frames? 2)If its 1 hour, is it expected to leave and close the trade in one hour or might it take longer? 3) If I notes a trend change after I made the trade (1 our or 4 hour) should close the trade fast or should I let it breath until it hits either SL or PL? Finally... 4) is it best to trade during news period, without news or it really does no matter? Thank yo and please excuse me for all these questions. I am on training mode and for the first time ever I have more winning trades than losing. The only problem is that SLīs ar higher than TP so if the account was real I would still be losing money . Again...thank you!!!
  • #43,535
  • Nov 10, 2014 4:32pm Nov 10, 2014 4:32pm
Quoting brandy711
{quote} Alo Manny,nice put,good job in remind us to look back what Big E did for us traders. Happy Trading

Hey brandy,

Yes, I keep the core of the 5-Method in all my trading. That must be that solid foundation which we can build up our own winning trading system.
The building blocks of a winning trading system are important once we have the foundation laid firmly.

Good Trading buddy.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #43,536
  • Nov 10, 2014 4:38pm Nov 10, 2014 4:38pm
Quoting TheScorpS
{quote} Sorry to hear about your loss Have been as well following this thread for the last 2 years, learnt almost dread lots of information from here, specially Big E ,Phx62, and Emmanuel books, what I learnt from this time is that every trader view the market differently in sense of using his own way and incorporate that with TMS, thats why there are varieties of thoughts regarding TMS, that's fine since human nature , and our minds work in this sense , I was in that shoe but found my way easily with TMS, at that times everything was difficult,...

Thank you TSS for that very good picture "The Traders Hill".

MM is one building block we must have. Eric has his own MM which I learned and adapted to my own. I only regret not knowing CaveManager features earlier but now it is still not too late. Still working on CM and had anothe great week testing CM last week.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #43,537
  • Nov 10, 2014 4:39pm Nov 10, 2014 4:39pm
GBPCHF Daily ... short.

I just spotted this entry signal, even if it's a 'CHF' pair which doesn't make it very smooth I still like it.
Divergence on the TDI also confirms my idea, only future will tell ... initial SL:50, TP: 190 but it will be very variable depending on the PA.
we'll see...

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Lorenzo
  • #43,538
  • Nov 10, 2014 4:41pm Nov 10, 2014 4:41pm
Quoting heispark
{quote} Oh, it has a bug.... too bad. Anyway, always thank you very much for your quick reply, LW! Have a good day.

Heispark,

There is no bug. Just need up-to-date maintenance and to catch up with current market conditions.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #43,539
  • Nov 10, 2014 4:42pm Nov 10, 2014 4:42pm
Quoting chiche
Thanks so much for you answer. Mr Snarlyjack DID SOMEBODY took this trade this morning? 1h time frame and the trade was in the vertical line.
Hi chiche,

I'm new in here, started to test TMS just recently. I took this trade on E/U and made 40pips...

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  • #43,540
  • Nov 10, 2014 4:53pm Nov 10, 2014 4:53pm
Quoting TakeUrPills
{quote} Hi chiche, I'm new in here, started to test TMS just recently. I took this trade on E/U and made 40pips... {image}

yes, nice 50 pips bounce from BRN 1.2500, with H4 pullback candle,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
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