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Trading Made Simple

  • #47,461
  • Dec 21, 2014 5:31am Dec 21, 2014 5:31am
Quoting nods80
{quote} I haven't traded for 2 days. But for the month I'm showing a profit of nearly 400 pips, about a 60% success rate. I'm happy with this it's only my 2nd TMS month.
Great results nods80 - you have come up really quickly... catch-on fast... its cause you are like a scientist dude... keep going mate!!!
  • #47,462
  • Dec 21, 2014 5:34am Dec 21, 2014 5:34am
Quoting MrAussieFX
{quote} Thanks SJ, I really appreciate your feedback and time. I started learning forex early this year (2014) and I believe this is the most fun part of this subject,business whatever we want to call it. 1. The learning never ends (Candlesticks, patterns, fibs, Money management etc.) 2. The more practice we do the better we feel and the better & calculated decisions we make 3. We have our exam everyday (Live market test us on patience, our homework, money management and reward us accordingly) 4. We all are students here, we wake up in the middle...
5. That's why when any of us gets rewarded others appreciate it & back him/her up because we all know how much effort he/she is putting in this...

just a spot-on post mate ...
  • #47,463
  • Dec 21, 2014 8:37am Dec 21, 2014 8:37am
I have found that the ADR indicator that am using causing my platform to crash whenever I apply that to chart, so for those that downloaded my template a while a go, if you have this problem, please delete the ADR indicator, and replace it with others from paper clip
I Have Learned to Take Some Losses to Make Profits
  • #47,464
  • Dec 21, 2014 8:39am Dec 21, 2014 8:39am
Quoting TheScorpS
{quote} Thanks , will have a look laters
Fine vids, enjoyed watching every bit in this back-testing session, so when you do back-test, do you take max 2 trades per back testing session?

Thanks MrAussie
I Have Learned to Take Some Losses to Make Profits
  • #47,465
  • Edited Dec 22, 2014 1:05am Dec 21, 2014 6:40pm | Edited Dec 22, 2014 1:05am
Quoting emagine
{quote} Thank you for your replies Snarlyjack and Lastingwell Lastingwell, I am using a separate broker that uses a web-trader to execute my trades therefore I couldn't display my entries and exits on this MT4. My trades were taken as follow: 1. GBPJPY (17.12 at London Open + 4 hrs), 2. EURJPY (18.12 at LO when PA went below FO's low at 145.788) and 3. GBPNZD at (19.12 at LO + 4 hours). I think I remember your H4 candle open-s timing is a little different from mine. Attached is my H4 charts (Red Vertical and Horizontal marks entry). At entry,...
Hi emagine,

When trading H4 charts, you stick to your own broker charts for consistency. It does not matter if other broker charts H4 candls are different due to different server time and start of day.

Trading H4 chart, required a bit more work and preparation than those simple rules with TDI cross and APB change colour, and picking entry using APB candles 1 and 2 only. You need to know where confluence of support and reistance are.

Look at your EJ chart posted. At the red vertical line where you had an entry, look back to the 10 candles counting from the one with the red vetical line. Do you see a wide range candle at the very first candle on your chart? That is a Master Candle MC and it shows market is in consolidation and within the raneg of the MC. You must suspect something when a MC appears on our chart. There must be some support and resistance around the MC. What is that support? Zoom out of your chart and see that. Make is simple, you can use the BRN 145.00 where price action will pause.
Also the TDi is set to defaule period 13, so you need to look at the last 13 candles and the many candles before that to see what the market was doing before that vertical red line.

You also see H4 candles wriggling around the 5EMA and with long wicks and a few Inside Bars. More signs of price contraction so we plan and wait for a breakout with a high probability TMS setup.

Always do your trade pre-planning with a top down approach by looking at Weekly and Daily charts price action when we want to trade H4. We want to catch the next trending move of 3 to 8 candles, don't we? But taking an entry is candle 1 and 2 is high risk unless you have those skils of of late OP eelfranz.

Form a bias before we trade. Previous Week candle was bearish, and early week before your trade was also bearish. But the previous Day was bullish, hence there is conflict in MTF analysis... this is not high probability.

One way to trade H4 with high win rate is avoid taking any setups with TDI cross when PA is within a wide range candle and MC. Look for high probability A+++ setups and you want to capture that 3 to 8 APB candles run. If you use the Synergy model PAC, simply avoid any trade setup when the MC is across the PAC. Wait until we see price action and a breakout into a continuation of a trend.

Another thing is to look at the full TDI version with the volatility blue bands. The TDI shows us the overall market condition both the chart timeframe we trade and also the next higher TF.

regards,

Seasons Greeting!
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #47,466
  • Dec 21, 2014 8:29pm Dec 21, 2014 8:29pm
I have been trading using TMS for the past few months. However, I always find myself not on the profitable size where I enter the trade at the beginning of the second candle with the TDI pointing at either 1-2 or 4-5 oclock. The HA candle size at the point of entry wasn't too small and there were no wicks. But somehow it always go against the direction I thought it will go or end up going sideways and that will almost always mess up the HA candle size and the TDI direction at the end of the hour.

In the chart attached, my short position fulfilled the requirements to enter the trade and additionally the retracement was at a strong resistance level. My short entry was on the third candle from the right. Can anyone point out the mistake in my trades so me and all readers could benefit from it and not repeat the same mistake I did?
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  • #47,467
  • Dec 21, 2014 9:52pm Dec 21, 2014 9:52pm
Quoting TheScorpS
{quote} Fine vids, enjoyed watching every bit in this back-testing session, so when you do back-test, do you take max 2 trades per back testing session? Thanks MrAussie
Thanks TS,

No, when I backtest, I treat it as a live market conditions and try to take all the good and bad trades for 3-4 hours on Saturday. It was restricted to 2 trades as the last video I did was too long and in this video I was looking to point out some psychological areas of my trading and most of us faces in every day trading.

Actually, I didn't know at beginning of the video that the 1st trade will end up in consolidation and 2nd one winner. I just started adding notes what I felt about the 1st trade and the 2nd one so that I can add them to the video.

These videos and charts are for my trading archive which will help me look back why I did what I did in the past, what was the reason to take the trade, what not to do and what to do.

Kindest Regards
  • #47,468
  • Dec 21, 2014 11:33pm Dec 21, 2014 11:33pm
Holiday man...
take the time to break...we need that

wish we all have a blessed 2015
Maura Zaky Putri Fadhin
  • #47,469
  • Dec 21, 2014 11:54pm Dec 21, 2014 11:54pm
Quoting snarlyjack
{quote} Nods, I think that is excellent for only trading for 2 months with Tms! Think of it this way...your only going to get better. Your just starting to get dialed in on something very new to you. Give it some time & keep on learning and see what happens in the future Don't change systems! Learn as much as you can about Tms. Crystallize your goals, take your time then go for it... Congrat's sj
can i just ask what kind of trading styles you're using ?
  • #47,470
  • Dec 22, 2014 12:18am Dec 22, 2014 12:18am
Anyone trade audchf?
  • #47,471
  • Edited 1:01am Dec 22, 2014 12:48am | Edited 1:01am
Quoting Idkurv
Anyone trade audchf?
I dont trade this pair and matter of fact not any pair with xxxCHF.

But looking at it now, which timeframe do you trade? do you want to buy or sell?
Monthly is bearish, price pullback from historical support 0.7850, Weekly is retracement and Daily is retracement
Price action around BRN 0.8000 and with last week' high above, possible to get some pips to 0.8070.

Note: on H4, when the TDI PL green goes outside the blue band VB, the probability of sideways consoldiation is very high.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #47,472
  • Dec 22, 2014 12:55am Dec 22, 2014 12:55am
Quoting Bitpsy
I have been trading using TMS for the past few months. However, I always find myself not on the profitable size where I enter the trade at the beginning of the second candle with the TDI pointing at either 1-2 or 4-5 oclock. The HA candle size at the point of entry wasn't too small and there were no wicks. But somehow it always go against the direction I thought it will go or end up going sideways and that will almost always mess up the HA candle size and the TDI direction at the end of the hour. In the chart attached, my short position fulfilled...

Hi,

Just by looking at your H1 chart, I see bullish D and H4, so why sell against the higher TF?
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #47,473
  • Dec 22, 2014 1:33am Dec 22, 2014 1:33am
Quoting emmanuel7788
{quote} I dont trade this pair and matter of fact not any pair with xxxCHF. But looking at it now, which timeframe do you trade? do you want to buy or sell? Monthly is bearish, price pullback from historical support 0.7850, Weekly is retracement and Daily is retracement Price action around BRN 0.8000 and with last week' high above, possible to get some pips to 0.8070. Note: on H4, when the TDI PL green goes outside the blue band VB, the probability of sideways consoldiation is very high.
Hi Emmanuel,
I trade Daily TF, I am long @.799sh and has TP .8070
I am considering whether I should just close it or keep it..as it seems exhausted..
  • #47,474
  • Dec 22, 2014 2:25am Dec 22, 2014 2:25am
Quoting Bitpsy
I have been trading using TMS for the past few months. However, I always find myself not on the profitable size where I enter the trade at the beginning of the second candle with the TDI pointing at either 1-2 or 4-5 oclock. The HA candle size at the point of entry wasn't too small and there were no wicks. But somehow it always go against the direction I thought it will go or end up going sideways and that will almost always mess up the HA candle size and the TDI direction at the end of the hour. In the chart attached, my short position fulfilled...
Are you scalping? too early for scalp trades. It s at resistant but dont go against guppy or 200MA so H1 is stuck in between right now. No trade. I don't trade higher tf for oil... You need S/R (guppy, 200MA) on your chart if you want winners
Appreciation is the key to wealth and happiness
  • #47,475
  • Dec 22, 2014 2:51am Dec 22, 2014 2:51am
Quoting emmanuel7788
{quote} Hi, Just by looking at your H1 chart, I see bullish D and H4, so why sell against the higher TF?
Hi emmanuel,
I'm look for a good S&R indie and i cant seem to find one, looked in the paper clip as well..
Do you have one that i can use, or can you suggest something. I would appreciate your help.

Thanks.
Take care.
  • #47,476
  • Dec 22, 2014 2:56am Dec 22, 2014 2:56am
Hi Likica,

Yeah price (OIL) is stuck between the 200MA on top and Guppy ay the bottom...if price does go downwards then it might react with the Guppy right?? seems that it will go downwards as on the 30 min chart there was a small pin bar and currently price looks to be forming a bearish candle...may or may not reach the guppy...lets see.

Regards

Dennis
  • #47,477
  • Dec 22, 2014 3:00am Dec 22, 2014 3:00am
Hi Likica,

Another question...what is not right about this sell signal...I have marked it with an arrow on the chart...TDI on 30min and 1hr looked good.

Regards

Dennis
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  • #47,478
  • Edited 3:33am Dec 22, 2014 3:07am | Edited 3:33am
Quoting michael_k
After several trades that went from floating profit of +60 / +100 pips to either my stop loss of -50 or BE of +1 to 10 pips I realized that something needs to be changed...
Thank you michael_k for giving me an insight int your MM and stop loss settlement. I like your idea of having a minimum StopLoss, so you are never forced to enter a trade with <40 Pips that most of the time ends up in taking out your SL. It's also a good idea to make a kind of "diary" with myfxbook.

GBPAUD. Good upward trending in higher timefrimes, the ascending triangle could be seen as continuation and if it breaks, would be about +100 pips in the best case. But with US news in the afternoon there could also be a shift in demand. I like trading this pair today because it is not directly involved with US dollar and therefore news don't affect it that much.
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  • #47,479
  • Edited 3:29am Dec 22, 2014 3:07am | Edited 3:29am
Quoting Idkurv
{quote} Hi Emmanuel, I trade Daily TF, I am long @.799sh and has TP .8070 I am considering whether I should just close it or keep it..as it seems exhausted..
Hi,

This week and next week, I don't think the market conditions would be ideal for any D chart trading. We have shorter trading days during the Christmas and New Year holidays. Also most long term position traders and big boys have already exited the market ahead of the holidays.
The best to trade is lower TF like H1 and M15 scalping.

Back to AUDCHF, the challenge is that you are buying against the monthly downtrend. Last week' Friday high is below the Thursday high and that is the closest resistance to overcome before any possible further retracement higher. D has lost its momentum by looking at the candles. H4 is sideways.

I would look at H1 and find an exit with small loss or at best BE, and not wait any longer.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #47,480
  • Dec 22, 2014 3:21am Dec 22, 2014 3:21am
Quoting forexday
{quote} Hi emmanuel, I'm look for a good S&R indie and i cant seem to find one, looked in the paper clip as well.. Do you have one that i can use, or can you suggest something. I would appreciate your help. Thanks. Take care.

Hi forexday,

I have not found any S&R indicator to be of any good use for trading TMS.
Support and Resistance zones can be easily seen visually on every chart TF by observing the APB candles and and the TDI showing us the price momentum and its changes. Study the APB candle charesteristics, the body size and the wicks. This is one of the key component of TMS 5-Method in addition to the TDI.

I trade mostly 4H swing and D charts position trading. I look at the higher TF charts weekly and monthly to see where the historical price swing levels were and use them to identify as support and resistance zones.

When we trade H1, we can keep it simple and use the previous Day Open, High, Low and Close as support and resistance. Also keep our eyes on the previous Week' Open, High, Low and Close and where there is CONFLUENCE with Round Numbers where the current price action is on our charts.
You can also use the Daily and Weekly fibonacci levels but similarly use them to spot the CONFLUENCE with other support and resistance.
I prefer to use the OHLC because these are what I call natural S&R without any formulas to calculate them.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
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