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Trading Made Simple system follower - Thanks to eelfranz 9 replies

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Trading Made Simple

  • #47,761
  • Dec 29, 2014 8:17am Dec 29, 2014 8:17am
So I just took this trade on GU 4H, not sure how this will work out (not the best time of course to trade, so it is only demo), but it looks like it meets the TMS 5 criteria right?

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  • #47,762
  • Edited 9:03am Dec 29, 2014 8:29am | Edited 9:03am
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  • #47,763
  • Dec 29, 2014 8:31am Dec 29, 2014 8:31am
Quoting Marin0s
So I just took this trade on GU 4H, not sure how this will work out (not the best time of course to trade, so it is only demo), but it looks like it meets the TMS 5 criteria right? {image}
Marinos,

I like it...it has room on the downside to run.
Always check the daily chart to confirm
the trend and room to run.

When I trade, I will set my stop and use a set
& forget method. In other words, let it play out
& see what happens.

sj
  • #47,764
  • Dec 29, 2014 8:34am Dec 29, 2014 8:34am
Dan78,

I would say were looking at the same thing,
only with a different s/r indicator. But your
dialed in on what to look for

Congrat's...

sj
  • #47,765
  • Dec 29, 2014 8:37am Dec 29, 2014 8:37am
Quoting snarlyjack
{quote} Marinos, I like it...it has room on the downside to run. Always check the daily chart to confirm the trend and room to run. When I trade, I will set my stop and use a set & forget method. In other words, let it play out & see what happens. sj
Thanks for your comment.

You only set your stoploss? Takeprofit is taken when you come back to check how the trade is going?
  • #47,766
  • Dec 29, 2014 8:39am Dec 29, 2014 8:39am
Quoting snarlyjack
Dan78, I would say were looking at the same thing, only with a different s/r indicator. But your dialed in on what to look for Congrat's... sj
Thx.

Dan.
  • #47,767
  • Dec 29, 2014 8:43am Dec 29, 2014 8:43am
Quoting Marin0s
{quote} Thanks for your comment. You only set your stoploss? Takeprofit is taken when you come back to check how the trade is going?
Marinos,

Yes, I only set a emergency stop loss.
I target the different levels, so I don't use a
take profit. I like to use a set & forget method
where I will check it on the next 4 hour candle and
decide what to do.

sj
  • #47,768
  • Dec 29, 2014 8:50am Dec 29, 2014 8:50am
Quoting Marin0s
So I just took this trade on GU 4H, not sure how this will work out (not the best time of course to trade, so it is only demo), but it looks like it meets the TMS 5 criteria right? {image}
Marinos,

I have to tell you that Eelfranz would be looking to liquidate
all trades now (10:00 a.m. Eastern Time). He would make his
trades at the L/O, go to sleep & liquidate out in the morning.

But...since your on a demo account, I think you should let it
run & see what happens. The N/Y time after lunch the market
starts to range. So hold it for a day or so & see what happens...

sj
  • #47,769
  • Dec 29, 2014 8:53am Dec 29, 2014 8:53am
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  • #47,770
  • Dec 29, 2014 8:58am Dec 29, 2014 8:58am
Quoting snarlyjack
{quote} Marinos, I have to tell you that Eelfranz would be looking to liquidate all trades now (10:00 a.m. Eastern Time). He would make his trades at the L/O, go to sleep & liquidate out in the morning. But...since your on a demo account, I think you should let it run & see what happens. The N/Y time after lunch the market starts to range. So hold it for a day or so & see what happens... sj
Yes, I noticed that, will check on that next time.

I really like the set & forget method, this system can easily be combined with my day job.

Thanks again!
  • #47,771
  • Dec 29, 2014 9:09am Dec 29, 2014 9:09am
NZD JPY
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  • #47,772
  • Dec 29, 2014 9:22am Dec 29, 2014 9:22am
Dan78,

I personally think levels are amazing. It is
uncanny that the markets will hit exactly on the
levels, then break through or reverse at the levels.

Levels + trend + tdi = success in my mind...

sj
  • #47,773
  • Dec 29, 2014 9:29am Dec 29, 2014 9:29am
Quoting snarlyjack
Dan78, I personally think levels are amazing. It is uncanny that the markets will hit exactly on the levels, then break through or reverse at the levels. Levels + trend + tdi = success in my mind... sj
it is an English trader who gave it to me.

I added the alerts.

Good luck and enjoy !!!
  • #47,774
  • Dec 29, 2014 9:46am Dec 29, 2014 9:46am
I use this indicator with alerts and then I look because there are many opportunities.
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  • #47,775
  • Dec 29, 2014 9:59am Dec 29, 2014 9:59am
Quoting dan78
I use this indicator with alerts and then I look because there are many opportunities. {image}
Dan78,

You have the right idea!

I only trade 8 pairs, but I'm always looking for opportunities.
I like trades that are with the trend, levels giving me room
to run & the tdi in the right position! The perfect trade...

Thanks...your dialed in!

sj
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  • #47,776
  • Dec 29, 2014 10:05am Dec 29, 2014 10:05am
Quoting snarlyjack
{quote} Dan78, You have the right idea! I only trade 8 pairs, but I'm always looking for opportunities. I like trades that are with the trend, levels giving me room to run & the tdi in the right position! The perfect trade... Thanks...your dialed in! sj {image}
Always be careful!
  • #47,777
  • Edited 11:32am Dec 29, 2014 10:56am | Edited 11:32am
Quoting dan78
{quote} Always be careful!
thanks for your weekly indie Dan78 . I am applying it to my oil trade PT. let s see how it turns out... Currently +68 touching weekly thingy
looks like it is heading down to 100p from my entry ( collected 73 green only)
updated: it touched 2nd weekly thingy for 160p from my entry
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Appreciation is the key to wealth and happiness
  • #47,778
  • Dec 29, 2014 11:02am Dec 29, 2014 11:02am
Quoting likica
{quote} thanks for your weekly indie Dan78 . I am applying it to my oil trade PT. let s see how it turns out... Currently +68 touching weekly thingy {image}
  • #47,779
  • Dec 29, 2014 11:05am Dec 29, 2014 11:05am
Quoting snarlyjack
...I have to tell you that Eelfranz would be looking to liquidate all trades now (10:00 a.m. Eastern Time). He would make his trades at the L/O, go to sleep & liquidate out in the morning...
Is this what most TMS 4H system followers do? With an eight-candle average run, it seems a little abrupt.
  • #47,780
  • Dec 29, 2014 11:13am Dec 29, 2014 11:13am
EUR/JPY /good accuracy
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