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Trading Made Simple

  • #44,381
  • Nov 20, 2014 8:48am Nov 20, 2014 8:48am
Quoting nods80
{quote} so do I place my trade and then drop the ea in the chart?
Ea can be put on chart all the time.It will manage whenever trade will be opened. Please note that mt4 must be running on pc or vps for ea to manage trade. If you are taking buy trade and apb candle has not been closed yet. Then you should wait for candle to close before attaching ea otherwise ea will close buy trade if prev apb was red.
  • #44,382
  • Nov 20, 2014 8:55am Nov 20, 2014 8:55am
Getting to the nitty gritty.

I really don't think that institutions are using indicators!
I think they are moving so much money that they are
making the candles go where they want them to go.

So the question is: where do the institutions want the candles to go?

I think they are playing from level to level or s/r to s/r.
The institutions don't need indicators...they are pushing
the market. But were not institutions, were not pushing
the candles. What were trying to do is ride on their backs
and following the institutions. We are followers in the market
not leaders in the market. The Tdi will show us the way.

So when you make a trade. Look for s/r levels. How much room
do you have to make a profit. Target the levels. Once you hit
a level, one of two things will happen. Price will bounce off of
the level or price will break through the level. We don't know
what price will do. When I start getting close to the level I
start liquidating my positions. Were not trying to pick tops or
bottoms. What were trying to do is take the meat of the trade
out of the middle. In other words 10% top, 80% middle, 10% bottom.
Don't greed out & try to take everything. You will lose that way!
Try to stay in the 80% range...

Hope this helps you!
  • #44,383
  • Nov 20, 2014 8:58am Nov 20, 2014 8:58am
Good morning/afternoon,

I just started following this thread a few days ago and just wanted to compliment those who are being so helpful and assisting the newer traders as they learn. So much good information here !

I have been trading FX for about 4 or 5 months but with not much success so far. I have realized lately most of my struggles have been as a result of 1) Lack of trading plan with specific rules to follow 2)micro managing trades and not letting them play out 3) FOMO (Fear of missing out) and chasing trades too late.

I have shelved live trading for the rest of the year and back on demo in an attempt to focus on following strategy with specific rules when to open/close trades. I am in Tampa, FL and mostly trade US session and beginning of Asian, using mostly 3hr and 6hr time frames. I really like this TMS strategy and hope to find success as many of the others here have. Will post progress as it goes.

Thanks again to those here taking the time to share your knowledge.
  • #44,384
  • Nov 20, 2014 9:06am Nov 20, 2014 9:06am
Nods80,

Thank you!

Don't forget Lastingwell. Lastingwell is one of the best traders that I
have ever met. I trust her 100% with my life & money. Their are
only so many super traders in the world and she is among them.
I'll tell you a secret, Lastingwell is way better than Eelfranz ever hoped
to be and we are very lucky she is here! Trust me on this!!!

By the way we will teach you how to trade
  • #44,385
  • Nov 20, 2014 9:07am Nov 20, 2014 9:07am
Quoting snarlyjack
Nods80, Thank you! Don't forget Lastingwell. Lastingwell is one of the best traders that I have ever met. I trust her 100% with my life & money. Their are only so many super traders in the world and she is among them. I'll tell you a secret, Lastingwell is way better than Eelfranz ever hoped to be and we are very lucky she is here! Trust me on this!!! By the way we will teach you how to trade

Oops my bad, While we are at it Numb3s and Griffinsoul have been a great help too. I hope to learn all I can from you guys. I must admit I wish I was here a few years ago.
Intelligence is the ability to adapt to change. Stephen Hawking
  • #44,386
  • Nov 20, 2014 9:18am Nov 20, 2014 9:18am
GU 3x Long @ 1.5682 after first H4 Signal Candle, TP1 1.5720 already hit, TP2 @ 1.5760, 3rd one as long as it is o.k. with H4 TDI , Stopp at BE. I used the targets because it's still countertrend at D1, even if we had a double low with divergence.
Attached Image (click to enlarge)
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Never give up!!
  • #44,387
  • Nov 20, 2014 9:31am Nov 20, 2014 9:31am
Quoting emmanuel7788
{quote} grffinssoul, she assumed I spent '10,000 hours staring at something.. ' and that is wrong assumption to make when she does not know me. TMS 5-Method is only less than 10% of a trading system. I spend a lot of hours working and testing various money management strategy a part of system development program. I also spend more hours working on the mental fitness aspect to become a better trader. we all know the 3 to 8 APB candles run in a trending move very well. I keep my mind and mental state positive all the time. {image} regards,
You're not the one that came up with the 10,000 hour quote were you, it comes from a book and now everybody including you, quotes it as fact when its not. Like anything else, there is a learning curve some people make it to the top of that curve quicker than others. Going to a monthly or weekly chart is not the way to get the experience you need to become a good trader, it will give you the same experience as watching paint dry and hoping to become a painter sometime in the distant future.
  • #44,388
  • Nov 20, 2014 9:38am Nov 20, 2014 9:38am
Hello to all the new traders, welcome to TMS!

I want to tell you a short story...

Your at the football game. The score is tied. Ton's of pressure.
Emotions are running very high. You want your team to win so bad!

Football coaches teach that you must keep your emotions under
control. Be cool & calm under the pressure. Don't freak out,
don't do stupid things. Stick to the plan...

The other team is trying to psych you out. It's intentional.
The team that keeps it's cool and their emotions under
control will win.

Their are a lot of secret's to trading. Having your emotions
under control is a big one...
  • #44,389
  • Nov 20, 2014 10:07am Nov 20, 2014 10:07am
Luckily/unluckily not only good entries ... but maybe still good exits.

I entered on Ecad long, on the daily chart, last night 23.00pm (gmt+1) - I wasn't extremely ok with the signal but it looked nice, not a real cross, but bounce, close to '50' level.

So here I am now -60 pips still open. Tdi crossed '50' level and MBL, and it's above red signal line.
Something really missing is MOMENTUM ... the steepness of TDI is not great, and I knew it since the beginning, we'll see

Attached Image (click to enlarge)
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For now, H4 look terrible, but I entered on Daily, I stick to that.
SL under 2-bars back low ....
Lorenzo
  • #44,390
  • Nov 20, 2014 10:20am Nov 20, 2014 10:20am
Quoting nods80
AUDCHF 4hr looks like its preparing to move. not sure about the d1 view though. it is pulling back of a major resistance but still showing a lot of red but h1 looks like it could be a complete trend reversal. Any thoughts? {image}
I have a question. On this graph the AUDCHF looked like it was gonna continue its down trend after the news but now it has corrected and appears to be continuing up. My question is does the spinning top HA candle represent indecision in the same way a regular candle would? Also the red tdi line is now flat should I see that as concern if I were to enter this trade.
Attached Image (click to enlarge)
Click to Enlarge Name: AUDCHF.PNG Size: 44 KB
Intelligence is the ability to adapt to change. Stephen Hawking
  • #44,391
  • Nov 20, 2014 10:30am Nov 20, 2014 10:30am
Quoting nods80
{quote} I have a question. On this graph the AUDCHF looked like it was gonna continue its down trend after the news but now it has corrected and appears to be continuing up. My question is does the spinning top HA candle represent indecision in the same way a regular candle would? Also the red tdi line is now flat should I see that as concern if I were to enter this trade. {image}
I would have concerns to short this right now - you see two indecision HA, and a touch of your MA - this is a very first signal that there is something going on to the upside. Your Stoachstic breaks its signal line and break through 20 - both is bullish, if you work with this indicator. Third, TDI is below 32 and you have an upcross Green/Red. If I had open positions I would either close them or adjust my SL. Surely I wouldn't open any new Shorts.
Never give up!!
  • #44,392
  • Nov 20, 2014 10:37am Nov 20, 2014 10:37am
Lorbax,

It's really hard for me to tell the trend without the long term guppy's.

But what I would do is...You have your stop loss in place, you have
your target in place. I will not take a intentional loss! I would use
a set & forget strategy and let the market take you out. Two things
could happen (1) the market takes you out & you lose or (2) The
market will turn & you'll make a profit. This happens all the time.

I will sit on a trade for as long as it takes for 1 of the them
to happen. Their is no crystal ball & no one knows what will
happen. But I can tell you that I have been pleasantly surprised
in the past when this happens to me. It's a part of trading.
Grind it out like on the football field...
  • #44,393
  • Nov 20, 2014 10:39am Nov 20, 2014 10:39am
Quoting Haendlerin
{quote} I would have concerns to short this right now - you see two indecision HA, and a touch of your MA - this is a very first signal that there is something going on to the upside. Your Stoachstic breaks its signal line and break through 20 - both is bullish, if you work with this indicator. Third, TDI is below 32 and you have an upcross Green/Red. If I had open positions I would either close them or adjust my SL. Surely I wouldn't open any new Shorts.

Sorry my bad wasn't specific. If I was to trade this it would be a long. It's bouncing of major support, TDI crossed up. But it's also near resistance and the bounce was stalled a bit by news. What i'm trying to learn is when not to trade even when the tdi crosses.
Intelligence is the ability to adapt to change. Stephen Hawking
  • #44,394
  • Nov 20, 2014 10:39am Nov 20, 2014 10:39am
Hi Snarly and group

Not sure what Im doing wrong but these things take time I know and I will prevail..... but want to make sure Im walking in the right direction - in UK if that is a help or an issue not sure - hopefully I have attached my graph of where I think I should buy, however as the USD is so strong I dont know if I should leave USD alone if a Sell signal (tick marks the spot

Waffle over - any feedback would be great ;-)
Attached Image (click to enlarge)
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  • #44,395
  • Nov 20, 2014 10:41am Nov 20, 2014 10:41am
Quoting snarlyjack
Lorbax, It's really hard for me to tell the trend without the long term guppy's. But what I would do is...You have your stop loss in place, you have your target in place. I will not take a intentional loss! I would use a set & forget strategy and let the market take you out. Two things could happen (1) the market takes you out & you lose or (2) The market will turn & you'll make a profit. This happens all the time. I will sit on a trade for as long as it takes for 1 of the them to happen. Their is no crystal ball & no one knows what will happen....
what made you place your SL there? I would have had it trailing at 20pips.
Intelligence is the ability to adapt to change. Stephen Hawking
  • #44,396
  • Nov 20, 2014 10:50am Nov 20, 2014 10:50am
Quoting snarlyjack
L14myj, Currently, I'm short the eur/usd & gbp/usd. The trend on the daily is down. If your long those pairs your fighting a very strong set of guppy moving averages that are going to be hard for the market to break through. I've been using a "set & forget" strategy on those pairs. The long term guppy moving averages on the daily chart are super accurate! But anything can & will happen. Remember this is a probability game! Hope this helps you... sj
SJ.. well, i was lucky that it hit my long position TP. probability game! will slowly build up confidence thru demo trade n backcheck..
how about the risk:reward and setting TP and SL?
  • #44,397
  • Edited 1:32pm Nov 20, 2014 10:52am | Edited 1:32pm
Quoting blade813
Good morning/afternoon, I just started following this thread a few days ago and just wanted to compliment those who are being so helpful and assisting the newer traders as they learn. So much good information here ! I have been trading FX for about 4 or 5 months but with not much success so far. I have realized lately most of my struggles have been as a result of 1) Lack of trading plan with specific rules to follow 2)micro managing trades and not letting them play out 3) FOMO (Fear of missing out) and chasing trades too late. I have shelved live...
Hello blade813,
Good luck with your trading progress. I hope you don't mind a few comments on your post....
Re 1) Lack of trading plan with specific rules to follow.... All our brains work differently. You'll often read on FF that you must have a plan. That statement is written by people whose brains "must have a plan." There are successful traders who do not have a plan - go to Christopher's Corner for a discussion on this around Oct 26/27. (Chris is also very good at trading levels which Snarlyjack has mentioned recently.)
One of my "rules" comes from noticing that it sometimes takes price 3 hours to leave the area of a good H1 signal, so my rule is "If price hasn't left the area in 3 hours, get out." If that helps with your 2) micro managing trades and not letting them play out, then fine. I don't have many other rules.
It's difficult to balance reading how other people's brains see the market to find stuff that resonates with your brain, and developing your own logic and "third eye" or intuition. The latter just takes time but it will come. It is, after all, your future in trading and it diminishes your 3) Fear of missing out. A good example of that is Lastingwell's rule about not taking H1 crosses if H4 hasn't crossed or doesn't look as if it's about to turn. She has presented a sound logical argument for ignoring H1 crosses that fall outside of these criteria i.e. not many of them succeed. You will devise such "rules" for yourself and not be concerned about those set-ups that fell outside your criteria or "feel" and then turned out successful. I prefer to call them conditions rather than rules. That's the way MY brain works. To me, the word "rules" seems hard and fast and highly specific, perhaps with a list of qualifying criteria, but hey, that's just me.
You will find YOUR way.
Thanks for your help, warmth and straight talking Heather.
  • #44,398
  • Nov 20, 2014 10:53am Nov 20, 2014 10:53am
Quoting lorbax
OK ... maybe i should close this last +200 chip ... haha {image}
hi lorbax, how to get the +pips on the trade window?
thanks!
  • #44,399
  • Nov 20, 2014 10:58am Nov 20, 2014 10:58am
Quoting emmanuel7788
{quote} Hi SJ, today making an early pit stop to replenish and stock up for the next long trip...2400km from Port Augusta, SA to Albany, WA. mobile trading takes another dimension with mobile broadband coverage at most national parks. {image} Hi Folks, Listen to SJ, a pair of old hands we have in our TMS family. there is a Trend in every chart timeframe. you need to know which trend you are trading and find the 'sweet spot' on H1. {image} regards,
I thought it's your caravan's interior photo..

http://www.itravel.ch/6st-deluxe-mot...6-0pa-4:5485-1
http://www.pacificislandtravel.nl/ni...-motorhome.asp
  • #44,400
  • Nov 20, 2014 11:06am Nov 20, 2014 11:06am
Quoting nods80
{quote} Sorry my bad wasn't specific. If I was to trade this it would be a long. It's bouncing of major support, TDI crossed up. But it's also near resistance and the bounce was stalled a bit by news. What i'm trying to learn is when not to trade even when the tdi crosses.
I see, looking at D1 it's countertrend but you have a double low, still D1 TDI is steep heading to the downside without beeing at its extremes. D1 TDI Green x Red, Green < 50 and < MBL - so this is very bearish. Looking at the weekly also very bearish. H4 HA did not cross MA5 to the upside, Green and Red are heading against a falling MBL - therefore the upcross Green x Red is of limited value at the moment. The 23 Fibo-Ret was already hit, I would expect some smaller pull back. Looking at H1 it looks bullish - if I would take the trade - only with tight stopps and early take profits at 38 to 61 - so it's more scalping than "set and forget".
Attached Image (click to enlarge)
Click to Enlarge Name: AUDCHF.PNG Size: 110 KB
Never give up!!
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