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Trading Made Simple

  • #44,121
  • Nov 18, 2014 6:21am Nov 18, 2014 6:21am
Quoting omonisha
GBPAUD.Caught the news {image}
good shot Omonisha. I was in the opposite .
managed to catch 49 green from EJ long
Attached Image (click to enlarge)
Click to Enlarge Name: EJ H1 M15 buy Tue 18.11.14 +49.png Size: 88 KB
Appreciation is the key to wealth and happiness
  • #44,122
  • Nov 18, 2014 6:27am Nov 18, 2014 6:27am
I see we have many new traders to this TMS thread.
TMS 5-method is a simple technical trading method and we need to work on the skills to trade with it.
Time to take stock what our skills are and what esle we need to work on.

Attached File(s)
File Type: pdf What is Trading Mastery.pdf   458 KB | 1,918 downloads
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #44,123
  • Nov 18, 2014 6:38am Nov 18, 2014 6:38am
Quoting TheScorpS
Good Morning TMS I see lots of traders following TMS at recent days which good and am happy to see you all here contributing to TMS, at the time of I started trading there were the same in TMS , ie lots of new traders and me, at that time I didnt even new that a 6 pip draw-don was only minor draw-don and thought that it was 60 pips draw-down, basically nothing I new , spent the first year trying TMS, nothing seems to be working but I knew that it was because I didn't understand how it should work and how I must go about it Later on in the second...
Great post, mate! That's really what everyone should do - a lot of backtests to understand behavior of the market and the system you use. And step by step your confidence will grow up, you will be sure in your trading system, you take losses easy, because you know that next trade(s) will give you back more than you loose. You always need time to find your way. Time, hard work and patience. And then your Trading will be really Simple.
Thank you for sharing your thoughts! You give a lot of inspiration to all of us!
  • #44,124
  • Nov 18, 2014 6:45am Nov 18, 2014 6:45am
Reversal trade XTI/USD back down to moving average.
+40 pips, SL 45.
Attached Image
Everything you can imagine, is real - Pablo Picasso
  • #44,125
  • Nov 18, 2014 6:47am Nov 18, 2014 6:47am
Thanks Emmanuel I have been trading the TMS for a few weeks now . And 90% of my trades are profitable but I only seem to make 20 - 30 avg per trade. I trade mainly EURUSD and USDCAD. I started with a £200 account and have turned it into £1200 (Small figures I know but good %) I look for one good trade a day at the moment but seem to get stopped out before a big move in my favour. Constantly say to myself if only I had a deeper SL but on the other hand I like to protect my small balance by moving my SL into profit when the opportunity presents it's self. Will definitely start looking at your suggested pairs. Thank you.
Intelligence is the ability to adapt to change. Stephen Hawking
  • #44,126
  • Nov 18, 2014 6:47am Nov 18, 2014 6:47am
Quoting Kanderpro
{quote} Hello emmanuel7788, You've spent a long time not answering my question and probably confusing new visitors to this thread. PCRF is Phx62's term and he has defined and explained it in good detail. You state that "there are also other PCRF type of chart patterns." That may be, but Phx62 is quite specific in his definition of HIS term and the only time I know of him entering on the break of bar 1 of a PCRF is when he was extremely cautious when the PCRF was indicating long after a steep down move. Please don't use the term PCRF to describe...
Kanderpro,

I look foward to you posting your trades and explaining to new traders here to help them learn from and how you trade Phx62' PCRF as he taught us.

For me, I use my own version 3-bars Price Candles Reversal Formation aka 3-bar PCRF.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #44,127
  • Nov 18, 2014 6:47am Nov 18, 2014 6:47am
Quoting likica
{quote} good shot Omonisha. I was in the opposite . managed to catch 49 green from EJ long {image}
Congrats likica. EA 1H price candle showing a good pin bar.
Sad i'm not trying to understand PA
  • #44,128
  • Nov 18, 2014 6:53am Nov 18, 2014 6:53am
What do the good people TMS think of the EUR USD today? I think if it breaks the 1.25055 support line we could see a steady fall back to 1.24480. 1 hr looks like could be almost set up to trade and lower TF's looking a bit bearish. Will wait to see what happens at start of NY session. what are your thoughts?
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd1h.PNG Size: 56 KB
Intelligence is the ability to adapt to change. Stephen Hawking
  • #44,129
  • Nov 18, 2014 7:17am Nov 18, 2014 7:17am
Quoting nods80
What do the good people TMS think of the EUR USD today? I think if it breaks the 1.25055 support line we could see a steady fall back to 1.24480. 1 hr looks like could be almost set up to trade and lower TF's looking a bit bearish. Will wait to see what happens at start of NY session. what are your thoughts? {image}
if you look at the 4h chart you will see pullback candle forming right now, nearly the same as yesterday. it might repeat the same scenario, there are some red news coming out as well which might add some volatility, so caution is needed.

3f
  • #44,130
  • Nov 18, 2014 7:19am Nov 18, 2014 7:19am
Quoting Olafff
{quote} if you look at the 4h chart you will see pullback candle forming right now, nearly the same as yesterday. it might repeat the same scenario, there are some red news coming out as well which might add some volatility, so caution is needed. 3f
Thanks. Glad I didn't jump in. The bulls seem to be out to play.
Intelligence is the ability to adapt to change. Stephen Hawking
  • #44,131
  • Nov 18, 2014 7:23am Nov 18, 2014 7:23am
Quoting nods80
Thanks Emmanuel I have been trading the TMS for a few weeks now . And 90% of my trades are profitable but I only seem to make 20 - 30 avg per trade. I trade mainly EURUSD and USDCAD. I started with a £200 account and have turned it into £1200 (Small figures I know but good %) I look for one good trade a day at the moment but seem to get stopped out before a big move in my favour. Constantly say to myself if only I had a deeper SL but on the other hand I like to protect my small balance by moving my SL into profit when the opportunity presents it's...

Hi nods80,
You are most welcome.
90% win rate is very good. And with EURUSD and USDCAD, to get 20 to 30 pips per trade is good because the holding time for these H1 trade are usually 3 to 5 H1 candles to get the 20 ~ 30pips. When you have achieved such good win rate you can continue focus on just these 2 pairs and don't need another pair. Consider increasing the lot size instead and keep the same SL rule you use. Nothing wrong to move SL when your exit strategy is one which is to protect your trading capital as priority. The reward to risk must be healthy.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #44,132
  • Nov 18, 2014 7:28am Nov 18, 2014 7:28am
Quoting emmanuel7788
{quote} For me, I use my own version 3-bars Price Candles Reversal Formation aka 3-bar PCRF. regards,
So call it something else. To use Phx62’s term of "PCRF" and impose your own conditions on it such as "bar 3 must close higher than the high of bar 1” which are not in Phx62’s definition of a PCRF will confuse new traders and might lead some people to think that you are hi-jacking the term.
You wouldn’t hi-jack anything.
Would you?
Thanks for your help, warmth and straight talking Heather.
  • #44,133
  • Nov 18, 2014 7:40am Nov 18, 2014 7:40am
Thanks Emmanuel. I was getting a little frustrated because often I see I could have made 80+ pips instead of 20-30pips if I had a slightly deeper sl.

A good friend of mine is a trader for a major uk bank in the city and he recommended these books.

http://www.amazon.co.uk/Financial-Fr...ords=van+tharp

has anyone read them?
Intelligence is the ability to adapt to change. Stephen Hawking
  • #44,134
  • Nov 18, 2014 7:50am Nov 18, 2014 7:50am
Good Morning Tms,

Trading is really about probabilities!

Their is no "holy grail" . What we are trying to do is stack the odd's
in our favor by using the Tms system. Let's say our system is getting
60-80% winners & 20-40% losers. And losses & winners are random.

When you are in touch with the chart & feel very good about trading.
If you use just a little bit of a wider stop & use more of a set & forget
strategy you increase the odds. If your super tight on your stops
you'll get stopped out more frequently. So this is all about increasing
probabilities of getting a winning trade.

On the daily chart I will never liquidate out & take a intentional loss.
I will keep the trade going for as long as it takes for the market to
take me out or hit my target. I've sat on some trades for over a week.
Sometimes I win, sometimes I lose but I let the market do the talking and
make all the moves. Once I'm in a trade I just watch it and I don't
mess with the trade.
  • #44,135
  • Nov 18, 2014 8:01am Nov 18, 2014 8:01am
Quoting Greenb
{quote} speaking about trade post, here is one, i got in at LO, trade be+2 now in retrospect, i should have just go for EJ since it has better setup. could have would have. so long as its still green pips i suppose edit: target at +75 pips for now just in case (2am here, next bar 6am) {image}
trade closed manually at +38pips
Daniel
  • #44,136
  • Nov 18, 2014 8:02am Nov 18, 2014 8:02am
Quoting Kanderpro
{quote} So call it something else. To use Phx62’s term of "PCRF" and impose your own conditions on it such as "bar 3 must close higher than the high of bar 1” which are not in Phx62’s definition of a PCRF will confuse new traders and might lead some people to think that you are hi-jacking the term. You wouldn’t hi-jack anything. Would you?

Kanderpro,

Ok, I read your point made and your intentions.
Let move forward since we both sshare the same intention which is to help new traders here.

You should start post your trades using Phx62 PCRF on H1 charts, explain them so that he new traders can learn quicker.

I will post and share my 3-bar bullish/bearish patterns on H4 and D charts which I trade most of the time.

This way, every one benefit from both our experience and this TMS family of traders grows bigger and stronger.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #44,137
  • Nov 18, 2014 8:07am Nov 18, 2014 8:07am
Quoting Greenb
{quote} trade closed manually at +38pips

you could have considered scaling out and keep one position to trail behind the H4 APB candle because there is potential room up to 1.2600.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #44,138
  • Nov 18, 2014 8:11am Nov 18, 2014 8:11am
Quoting nods80
Thanks Emmanuel. I was getting a little frustrated because often I see I could have made 80+ pips instead of 20-30pips if I had a slightly deeper sl. A good friend of mine is a trader for a major uk bank in the city and he recommended these books. http://www.amazon.co.uk/Financial-Fr...ords=van+tharp has anyone read them?

excellent Dr Van Tharp' books to own, study and use for reference.
the most recent one is Trading Beyond the Matrix.... a must read for anyone wanting to go on the transformation journey and achieve peak performance as a trader.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #44,139
  • Nov 18, 2014 8:14am Nov 18, 2014 8:14am
Quoting snarlyjack
Good Morning Tms, Trading is really about probabilities! Their is no "holy grail" . What we are trying to do is stack the odd's in our favor by using the Tms system. Let's say our system is getting 60-80% winners & 20-40% losers. And losses & winners are random. When you are in touch with the chart & feel very good about trading. If you use just a little bit of a wider stop & use more of a set & forget strategy you increase the odds. If your super tight on your stops you'll get stopped out more frequently. So this is all about increasing probabilities...
Yes, i am agree with that. i also don`t make profit every day. i also try to don`t mess with the trade.
  • #44,140
  • Nov 18, 2014 8:24am Nov 18, 2014 8:24am
We all lived in different part of the earth. Yes we all share the same galaxy of stars in the heaven.
You may not see them but you know the stars are up there. You can see them only when the skies are clearn and must be dark enough.
The same in trading. We all look at the same charts, same prices, same indicators, etc. yet we see different things hence we trade different.
How can we darken our 'skies' and see the 'stars' exactly the same we view the constellation of stars.

Time for me to hit the sack. Goodnight.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
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