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Trading Made Simple

  • #43,641
  • Nov 11, 2014 10:38am Nov 11, 2014 10:38am
Lorbax,

Congrat's!!! Keep on trucking...

The 4 hour & daily charts are the cat's meow.

Set & forget trading is a very interesting way to trade
  • #43,642
  • Nov 11, 2014 11:13am Nov 11, 2014 11:13am
I would like to apologize before hand if my chart confuses anyone but these were the charts I took pictures of when I took my sell entry and its 3:00 AM here just returned from work an hour ago.

I was looking for entry on GA or EA on 4 hour timeframe which may open an opportunity to be continued on daily. After 3-4 days of study, patience and using free Forex tester on previous charts, I believe the sell entry on EA H4 might work out my way.

Why EA H4 Sell entry and Not GA H4 sell entry ?
GA daily
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EA daily
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GA H4
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EA H4
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If you are new to TMS system, I would like to request you to take the conservative trades only until you have confidence in pointing out other factors of trading such as divergence, double top, double bottom etc. etc.
The things to keep on your chart
1. Average Price bars
2. Price action channel (Conservative approach)
3. 5 EMA (aggressive approach)
4. Support and resistance and knowledge of recent (Fresh) structure on the left
5. TDI (with MBL and Volatility bands)

Conservative Approach to TMS
Buy Entry:
TDI Green crosses red and MBL all three pointing up and above 50 line (MBL sometime lag behind but pointing in the direction of cross is a good sign to enter a trade)

Sell Entry:
TDI Green crosses red and MBL all three pointing down and below 50 line (MBL sometime lag behind but pointing in the direction of cross is a good sign to enter a trade)

Do understand where your support and resistance areas are, any previous round numbers that may have influence on your entry, size of the previous candles, any upcoming news, Is this the session (Volatility) that will suit me for trading.
Is PA outside PAC when the cross happened (Below/Above 5 EMA for aggressive entry), Is my entry on 1st or 2nd candle.

What you may experience (In a bad way) ?
1. Missing on some trades which other traders are taking based on other above mentioned factors.
2. Taking fewer trades than other members

What you may experience (In a Good way) ?
1. Confidence in the system and better understanding of the TDI behaviour
2. Patience, feel good factor and gradual increase in your winning trades

It has been said before and I do feel bad repeating it over and over again but when you use a Free Forex Tester (Do this on weekends) and Use the template mentioned above and practice,practice and practice. You will see that you gain more confidence in spotting the good TDI crosses over the bad ones.

Knowing your support and resistance areas before your session opens can also improve your overall trading, I call it doing my homework before entering a trade.

Will I be right all the time ?
No, but you will do good in long run.

I sincere apologies if I mentioned something that was out of the context of the original TMS.

Kindest Regards
Attached Image (click to enlarge)
Click to Enlarge Name: TDI Crosses.png Size: 279 KB
  • #43,643
  • Nov 11, 2014 11:44am Nov 11, 2014 11:44am
Hello and one more time, thank you for a great system and for the answers.
I am learning by the minute. I even made more positive pips than negative during the last couple of days with the system for the first time ever. Last night, during the London opening it was amazing. I made 7 trades and 6 of them touched the TP while I was sleeping and only one touched SL. That had never happened to me so to all of you making this thread happened and the system known, thank you. Still in demo mode until I can make 8 out 10 trades green in a consistent basis. Right now I am a bit of a happy trigger... I will have to solve that. Its called lack of discipline but I will also fixe that problem .
I have two questions. 1) I am trading on 4 Hours candles. on the 4 hour if the TDI its around 50% set for long and price action also indicates long I go long. Last night worked perfectly. The problem today was that I double check. 4H was perfect, like last night (50%) but with 1H candles it was different... on that setting that same long some times is around 68%. Do I still go for the long or 4H and 1H should be similar to take the trade?.
2) Is it better to trade during the beginning of the 4 hour candle? or if I see a good set in the middle or towards the end of the 4H candle could I also take it?
I expect to continue making a few more trades in about 2 hours with the new 4H candle and again tonite at 2am with the London opening. Thats why I asked the second question so I don't have to wait if I don't have to till 2 am or to the beginning of the 4H candle.
Thank you and please, keep the spirit up,
Manuel
  • #43,644
  • Nov 11, 2014 11:48am Nov 11, 2014 11:48am
MrAussieFX,

That is excellent!!! I really like it!!!

Yes, you might not get as many trades as on the 1 hour chart, But
what you make will be far more with less stress, imho.

If I could make a suggestion and this is just me. I find it hard to trade
when I'm distracted by lot's of colors. I would use just the apb's set to
candle mode not bar mode. I would also make the long term guppy's
1 color. If you look at my charts I think they are easier to look at.

But like I said that is just a personal preference. Everything else is perfect!!!

Congrat's...
  • #43,645
  • Nov 11, 2014 11:51am Nov 11, 2014 11:51am
My EA H1 trades so far this week...

Monday was fairly dead. I took a long entry following a break above the previous 8 candles. I was cautious since price displayed no clear direction throughout the Asian session. Price appeared to run out of steam early on and the trade was eventually closed at BE.

Today's entry was early since the first red candle was a doji and the TDI green was touching red but hadn't completely crossed. However, knowing that price had probably now set the high for London and then pulled back I was confident price would move south. I reduced my normal 50 pip target in line with the previous support since I couldn't monitor the trade. As it turns out price continued through the support level anyway but I'm happy with +42 for the day
Attached Image (click to enlarge)
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Focus on the process and the profits will follow
  • #43,646
  • Nov 11, 2014 12:06pm Nov 11, 2014 12:06pm
Manu27,

Nice meeting you.

When I trade I only look at the 4 hour & daily chart. If I look at the lower
tf charts I get confused. So when I see a set-up I trade off of the 4 hr chart.

I also trade at the beginning of the apb. I don't enter or exit in the middle
of the apb forming. I let the trade play out for better or worse. Once I'm
in a trade I don't fool with it or over analyze it. I let the chips fall where
they fall.

*** Exception: At the end of the 4 hour apb I will look at the daily apb. If I
think the daily apb is (crashing & burning for example) I will try to pyramid
the trade into a daily apb trade. This is a more advanced method and you need
to learn more, but it is very profitable. Remember there must be a 100 ways
to skin a cat. Emmanuel is good at this & he knows pyramiding, but for now
just get good old fashioned trading down.***
  • #43,647
  • Nov 11, 2014 12:09pm Nov 11, 2014 12:09pm
Ballistical,

That is excellent !!!

Isn't it fun when it works out as planned
Put's a smile on your face & a skip in your walk...
  • #43,648
  • Nov 11, 2014 12:24pm Nov 11, 2014 12:24pm
Quoting snarlyjack
Manu27, Nice meeting you. When I trade I only look at the 4 hour & daily chart. If I look at the lower tf charts I get confused. So when I see a set-up I trade off of the 4 hr chart. I also trade at the beginning of the apb. I don't enter or exit in the middle of the apb forming. I let the trade play out for better or worse. Once I'm in a trade I don't fool with it or over analyze it. I let the chips fall where they fall. *** Exception: At the end of the 4 hour apb I will look at the daily apb. If I think the daily apb is (crashing & burning for...
Thank you for your note. Its very helpful. In summary, 4H is 4H... no need to look to the 1H setting.
By the beginning of the "apb" you mean at the beginning of the 4H candle? Please, excuse my english. Regarding the entries or exits I let the TP and SL do the job. I will have to work a bit harder on this but for now I am ok. I the near future I will try to understand well where to place TP and SL. For now I place the SL on the top or lower of two candles back. Regarding the TP, for now I place it 20 to 30 pips away from the trading price but as I said... These are not too many pips but what I do is set it up with bigger slots. There is no science on how I do it and I will learn about it when I master the system which I am still far from that goal .
At this moment I am eager for the next candle to show up in about 30 minutes to set more trades and continue to see if I am really improving or if I just was lucky last night.
Again...thank you
  • #43,649
  • Nov 11, 2014 12:32pm Nov 11, 2014 12:32pm
Manu27,

I trade off levels. I don't set a 40 pip tp for example.

When I'm in a trade I target s/r levels. Imho, it is all about levels.
Unless the market totality turns against you, the tdi will warn you (starts hooking).
Levels are awesome!
  • #43,650
  • Nov 11, 2014 12:34pm Nov 11, 2014 12:34pm
Quoting lorbax
{quote} Thank you Master! It's all about trying to give back something that I can help with, after receiving much from all of you! ... Entered SHORT on EA , H4 chart @15.10 (GMT+2) {image} Entered LONG on AU , H4 chart @15.10 (GMT+2) {image} Someone else jumped in ?
+1 (@ both)...
  • #43,651
  • Nov 11, 2014 12:57pm Nov 11, 2014 12:57pm
Took off half on both EJ and NU 4hr and moving stops to BE.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: NZDUSDH4.png Size: 40 KB
  • #43,652
  • Nov 11, 2014 1:00pm Nov 11, 2014 1:00pm
Update on my EA trade

CM closed the trade with breakeven. My 1st TP was set to 30 pips, which I believe got missed by a pip or so or may be due to spread didn't got hit. Capital protection was set to no loss after 30 pips.

I'm actually happy about the trade so far. I may re-enter once I get a good price.

Attached Image (click to enlarge)
Click to Enlarge Name: EA breakeven.png Size: 133 KB


@Snarlyjack, thanks for your time and comments. I kept my Guppy's outer 2 MA of different colours to differentiate between 30 MA and 60 MA.

Actually this is what I'm looking for in my chart:

We are the PAC (small traders), Guppy's MA are big institutions. We, PAC make fast moves and Guppy follows us, once we both align in the same direction, its a good trade entry. So I want to see alignment in my moving averages (30 at top of 60 in Bullish moves but below PAC) and (30 below 60 in bearish moves but above PAC). I hope that make sense and is not too confusing.

Kindest Regards
  • #43,653
  • Nov 11, 2014 1:11pm Nov 11, 2014 1:11pm
Hi guys,

Wanted to share the EA trade i was talking about this afternoon. TP hit at yesterday's low. Pretty much a copy of Ballistical's trade.
Green pips!

Attached Image (click to enlarge)
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  • #43,654
  • Nov 11, 2014 1:13pm Nov 11, 2014 1:13pm
Notreally,

Excellent! See how well those levels worked, perfect!!!

MrAussieFX,

You are 100% correct. I use the pac for entry's & the
guppy's just for a visual medium/long term trend. I just
want to know what the institutions are looking at.
If you can't beat them...join them...
  • #43,655
  • Nov 11, 2014 2:01pm Nov 11, 2014 2:01pm
Quoting snarlyjack
Good morning everyone, It is super cold this morning in Western Montana, it's 9 degree's right now. Way to cold for me... Anyway I just wanted to say to Lorbax & Tanglewood those were excellent posts you just made and very good information to have I also wanted to say to those of you trading off of the Daily chart that the daily chart is a excellent way to trade! A lot of traders & institution's trade off of the daily. If you haven't traded the daily chart you might want to give it a try or consider it. It is by far my favorite chart!!!
  • #43,656
  • Nov 11, 2014 2:11pm Nov 11, 2014 2:11pm
Quoting snarlyjack
Ballistical, That is excellent !!! Isn't it fun when it works out as planned Put's a smile on your face & a skip in your walk...
Thanks SJ

I've been a big follower of your posts, even as far back as the Craig Harris Stoch's thread.

Great to see you back in here posting again!
Focus on the process and the profits will follow
  • #43,657
  • Nov 11, 2014 2:12pm Nov 11, 2014 2:12pm
Quoting Vladbold
Hi guys, Wanted to share the EA trade i was talking about this afternoon. TP hit at yesterday's low. Pretty much a copy of Ballistical's trade. Green pips! {image}
Identical trades.... great minds think alike I guess
Focus on the process and the profits will follow
  • #43,658
  • Nov 11, 2014 2:18pm Nov 11, 2014 2:18pm
hello tms-ers ....
I'm checking out possible entries on the D1, in 2hours I have the candle-change on my broker...

Basically I'm noticing two of the "3 amigos" : EURUSD and GBPUSD, while AUDUSD is already closing her second green candle.

EU @D1
This last closing daily bar is a "bullish engulfing" even if the size is not much, after a HH-LL small candle...
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd-d1-pepperstone-financial-pty.png Size: 88 KB


GU @D1
Nice inside bar on the previous one, this closing one is once again a small bullish-engulfing bar
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd-d1-pepperstone-financial-pty.png Size: 95 KB


AU @D1
It' quite spiky in general, and I don't like it also because it's already "gone" to me, next candle would be the 3rd one, I won't open this.
Attached Image (click to enlarge)
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What do you guys think? opinions are very much appreciated !
thank you, green pips!
Lorenzo
  • #43,659
  • Nov 11, 2014 2:29pm Nov 11, 2014 2:29pm
Quoting lorbax
hello tms-ers .... I'm checking out possible entries on the D1, in 2hours I have the candle-change on my broker... Basically I'm noticing two of the "3 amigos" : EURUSD and GBPUSD, while AUDUSD is already closing her second green candle. EU @D1 This last closing daily bar is a "bullish engulfing" even if the size is not much, after a HH-LL small candle... {image} GU @D1 Nice inside bar on the previous one, this closing one is once again a small bullish-engulfing bar {image} AU @D1 It' quite spiky in general, and I don't like it also because it's...
Lorbax, I don't trade the daily so take my comments with a pinch of salt.

Look at the three charts you posted... all 3 have been in a strong downtrend for some time. Previous upward moves have been short-lived. By entering long you will be making things very difficult for yourself. I'd much rather wait a few days and then see another red candle and a downward cross.

Just my 2 cents!

Best of luck!
Focus on the process and the profits will follow
  • #43,660
  • Nov 11, 2014 2:38pm Nov 11, 2014 2:38pm
Quoting Ballistical
{quote} Lorbax, I don't trade the daily so take my comments with a pinch of salt. Look at the three charts you posted... all 3 have been in a strong downtrend for some time. Previous upward moves have been short-lived. By entering long you will be making things very difficult for yourself. I'd much rather wait a few days and then see another red candle and a downward cross. Just my 2 cents! Best of luck!
Thank you for your feedback, what you say completely makes sense and it's actually something I noticed too so I'm trying to analyzing these very carefully.
Though, one thing I noticed is that during the previous "tests" of an upward move, the TDI was way lower the 32 in a very oversold area, now it's entering in the 32-50 areas and also the MBL is starting to point upward. Just a pro and cons analysis ....

But all in all yes, I agree with your point of view now that you made me notice it better, you're very probably right, momentum is still quite strong down.

I will decide in the next hour....
Thanks
Lorenzo
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