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Trading Made Simple

  • #49,161
  • Jan 8, 2015 12:39pm Jan 8, 2015 12:39pm
Quoting snarlyjack
This is using the weekly pivot indicator on the usd/jpy. On the daily were in a strong long trend, that has retraced a bit. Do you see the green line on the weekly pivot indicator, once it clears that green level (s/r) I would go long. Same thing on the 4 hour chart. I don't trade the 1 hour so I really can't say, (but some other traders can). My targets would be the blue levels. The trade isn't quite ready yet...but it's getting their! The guppy's look strong. The 200 ema is in a good place. We need for it to shoot out of the pac on the daily....
on the 1H chart, if it were me, i would get into long the moment apb turns back to blue (bullish) with green coloured line on TDI hooking up. doesnt need to cross the red line.
additionally, looking at the hourly chart, you can sort of draw a trend line (there are 3 points that line would have touched the price. i can't post what i'm saying since i'm using mac atm. my mt4 are all on my pc laptop).
if i were to hazard a guess it should be during tokyo session. alternatively i can be wrong and price takes a sudden turn southward/ranging for the next day or so.

Greenb
Daniel
  • #49,162
  • Jan 8, 2015 1:03pm Jan 8, 2015 1:03pm
Quoting Ballistical
{quote} I'm watching the same area on H1. If I take entry at LO I'll be monitoring it very closely. {image}
LO didn't break above FO which kept me out of a long in the end. Instead I waited for the LO candle to close confirming a short entry in accordance with basic TMS rules.

Price moved 35 pips in my favor before stopping me out at BE following the EUR news at 10am. The optimum entry in this case would have been on a break below FO candle for 50 pips, but given the strong move in the Asian session I wanted stronger confirmation so waited for a valid TMS entry.

As Phx62 has said many times, often when price makes a strong move during the Asian session, London tends to range. Today demonstrates that perfectly.

NFP tomorrow so its unlikely I'll be trading unless I have an obvious setup...
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Focus on the process and the profits will follow
  • #49,163
  • Jan 8, 2015 1:47pm Jan 8, 2015 1:47pm
hi, im new and glad to be here! finally after 3 months of being a silent reader
it took me weeks to finish hundred of informative posts of TMS. what a big contribution from Big E.
during those weeks i loaded TMS indicators and start trading demo. what a surprise, easy and stress free trading.
opened up new live account last week, $180 and gained another $100. i couldnt barely make $30usd a week
before i found TMS. hopefully it is not some sort of beginner's luck.

hopefully i can learn more and more. in fact i have local Telegram group to discuss and analyze the market
since it has desktop version and it is easy to share screenshots of the charts. it would be great to have group for
international traders too. maybe we can arrange something eh? of course without abandoning this precious
thread. another one, i hate typing. my english isnt that good too however rest assured i will keep visiting
this thread regularly.

congrats and thanks to likica sj and other great traders of TMS for the lessons. you guys rock.

-ehh
  • #49,164
  • Jan 8, 2015 1:56pm Jan 8, 2015 1:56pm
Quoting snarlyjack
{quote} Redcloud, The daily is my favorite chart & pretty easy to trade! First of all, the daily has 24 hours of news in the bar. So you can see what the world thinks about the news as it goes from session to session. The 4 hour bar, has 4 hours of news in it. The 1 hour bar, has 1 hour of news in it. The 15 minute tf, has 15 minutes of news in it. So the daily is much more reliable, from session to session on what the world thinks... You can trade the daily, bar by bar, or as a position trade. It's up to you! Once you are dialed in on the trend....
Thanks SJ. I want to start trading the Daily get a couple of trades in the week and not have to check it at all.
Positive anything is better than negative thinking.- Elbert Hubbard
  • #49,165
  • Jan 8, 2015 2:09pm Jan 8, 2015 2:09pm
I am posting this for a not what to do with TMS as I think someone asked for bad trades posted. I took a nzd/usd short last night, because I "thought" it was a nice play on the range...mistake #1...I luckily got out with +2 pips but this could have turned really bad.mistake#2 I ignored the break out above the master candle, price was closed ABOVE the PAC,mistake #3 the 4 hr was still heading up. mistake#4 I was going against daily,guppys and 200 ema.Everything screamed not to take this trade, but I did, and you know why? I was influenced by a forex "GURU" and not using this system. All the signs were right there telling me no, it all goes back to trusting a system that works, I just talked with Redcloud the other day about this very same problem and here I did it myself. Just a piece of advice to stay disciplined and trade what YOU see and not someone else.
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  • #49,166
  • Jan 8, 2015 2:25pm Jan 8, 2015 2:25pm
Quoting Walter4x
Hi DMC-12, I am new here also, and I use FXCM. I had to download the MT4 trading platform (it is free on FXCM). I had to go to a Demo account to get it, and I switch between MT4 and the FXCM trading station software to place orders (you may not have to do that, but I didn't want to open another account with them). Once you have MT4 go back through the paper clip on this post and you will find all the indicators you might want. If you need some help on MT4 you can go to CompassFX/Synergy (where Dean Malone has videos explaining MT4 and how he uses...
Walter4x cheers for the support
  • #49,167
  • Jan 8, 2015 2:29pm Jan 8, 2015 2:29pm
Quoting michael_k
Hi DMC-12, {quote} I am not SJ , but I also use FXCM's Trading Station. I personally find it way more better than MT4. Here is my template which is based on standard Trading Stations indicators + 2 custom indicators, which are 1. TDI; and 2. MultiTF HA The rest of the indicators are standard moving averages which can be easily removed. Hope this helps you and all other fellow TS users {file}

Cheers michael_k, I use trade station so I appreciate that, can you tell me what the shift 3 means for the 5 EMA?

Regards

DMC-12
  • #49,168
  • Jan 8, 2015 2:30pm Jan 8, 2015 2:30pm
Quoting Ballistical
{quote} LO didn't break above FO which kept me out of a long in the end. Instead I waited for the LO candle to close confirming a short entry in accordance with basic TMS rules. Price moved 35 pips in my favor before stopping me out at BE following the EUR news at 10am. The optimum entry in this case would have been on a break below FO candle for 50 pips, but given the strong move in the Asian session I wanted stronger confirmation so waited for a valid TMS entry. As Phx62 has said many times, often when price makes a strong move during the Asian...
Well said Ballistical - i was in the zone with respect to the Asian channel before the holidays - i found that happened more so around mid-W1 - so i had most of my trading done by the first three D1 of the W1. Not sure if that pattern cycles around as the Y1 goes by? Respecting this behavior can save you from getting bounced around
  • #49,169
  • Jan 8, 2015 2:33pm Jan 8, 2015 2:33pm
Quoting snarlyjack
{quote} Dmc, Nice meeting you & welcome to Tms... Here is Big E's pdf file. Start here & read what Eelfranz (our leader) had to say... Once again welcome! sj {file}
Nice to meet you too sj and many thanks for your warm welcome.

DMC-12
  • #49,170
  • Jan 8, 2015 4:27pm Jan 8, 2015 4:27pm
Quoting snarlyjack
{quote} Cristy, See...look at you go...I see a eagle Good idea, let's check out the monthly. Notice the tdi is breaking through the blue volatility band, that is interesting... sj {image}
Hi SJ,


In the D and W trend I see a moving down-ward trend, but how do we know if the bear is on its way to be exhausted or it is going down for a deeper leg? And if say, the they continue to go deeper, do we need to see a bullish pullback on H4 to get the right entry?
  • #49,171
  • Jan 8, 2015 4:29pm Jan 8, 2015 4:29pm
Quoting snarlyjack
This is using the weekly pivot indicator on the usd/jpy. On the daily were in a strong long trend, that has retraced a bit. Do you see the green line on the weekly pivot indicator, once it clears that green level (s/r) I would go long. Same thing on the 4 hour chart. I don't trade the 1 hour so I really can't say, (but some other traders can). My targets would be the blue levels. The trade isn't quite ready yet...but it's getting their! The guppy's look strong. The 200 ema is in a good place. We need for it to shoot out of the pac on the daily....
Hi SJ,

How can I find the guppy indicators?
  • #49,172
  • Jan 8, 2015 4:32pm Jan 8, 2015 4:32pm
Quoting michael_k
Hi DMC-12, {quote} I am not SJ , but I also use FXCM's Trading Station. I personally find it way more better than MT4. Here is my template which is based on standard Trading Stations indicators + 2 custom indicators, which are 1. TDI; and 2. MultiTF HA The rest of the indicators are standard moving averages which can be easily removed. Hope this helps you and all other fellow TS users {file}

Hi michael_k

I have down loaded the indicators but the TMS + Pac doesn't seem to want to load?

DMC-12
  • #49,173
  • Jan 8, 2015 4:33pm Jan 8, 2015 4:33pm
Quoting wyley187
I am posting this for a not what to do with TMS as I think someone asked for bad trades posted. I took a nzd/usd short last night, because I "thought" it was a nice play on the range...mistake #1...I luckily got out with +2 pips but this could have turned really bad.mistake#2 I ignored the break out above the master candle, price was closed ABOVE the PAC,mistake #3 the 4 hr was still heading up. mistake#4 I was going against daily,guppys and 200 ema.Everything screamed not to take this trade, but I did, and you know why? I was influenced by a forex...
Thanks Wyley187 for your advice.

I was down by 1% of my total loss and that makes it -9%. I am trying hard to play the H4 chart, but I cant seem to get the right setup despite reading through so many posts. I guess its true that out of 10 traders, only 1 makes it in FOREX.
  • #49,174
  • Jan 8, 2015 5:01pm Jan 8, 2015 5:01pm
Emmanuel,

Remember that tomorrow is "Non farm payroll"!
Be careful setting your long term trades tonight...

P.S. I remember that someone marketed the "Genesis"
system that RJ developed. Could have been the same guy?

As the world turns...

sj
  • #49,175
  • Jan 8, 2015 5:20pm Jan 8, 2015 5:20pm
Hi SJ,

Just wanted to know if u take news into account when trading the 4hr time frame...its just that there is news on most major currencies nearly everyday...what looks good from technical point a view can get spiked during the news...I follow ur posts and am also trying trade the 4hr time frame as by the time the London market makes the move I have already hit the sack...I try to look for 4hr set ups on the late or mid Tokyo session and try n set TP so that I don't have to wake up in the NY session as its way too early for us here in New Zealand.

How does the AUD/USD look? There could be a sell set up coming up in late Tokyo session I guess.. its not ready just as yet..maybe a good sized bearish candle would give us the trigger?? the major trend is down and on the 4hr tf price is in the Guppy..plus we can look for a break of 0.81for entry?? the problem I see is that both the daily n weekly is in the 32 zone on the tdi. Also it is nearing the monthly support if we look to the left.

Do advice.

Regards

Dennis
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  • #49,176
  • Jan 8, 2015 5:24pm Jan 8, 2015 5:24pm
Quoting michael_k
Hi Emmanuel, Hope you don't mind me asking: {quote} How do you decide when to add? Would this add-on position be a violation of the entry rules, strictly speaking? There is no TDI cross on either timeframe. Do you go to lower timeframes when adding positions?
Hi Michael,

Good question and I am glad that you asked.

This is a money management strategy for a ruled based technical strategy like TMS. Managing risk is paramount in trading and investing.
The example I started this week using EURAUD is not the best as we jump in after the MC breakout and it was already the 7th APB candle at our entry. But the setup was good enough and I used that to reply another member post.

When to add position is a money management question and also timing question. For traders who have no time to trade the market sessions, they can trade any time of the day when they have access to their broker platform. The initial entry trade is important to get into the market trend. Once that is accomplished, every subsequent additional order can be place after considering the overall risk being managed and position size of each trade. There will be occasions, after the first initial entry position, market 'reverse' on us and we are in drawdown situation and this is when we have to use the position building which is different from averaging down. There is a "cut-loss mechanism" in place which I have not come to yet.

When trades are in profits, subsequent orders can be place using lower TF setups during the following days, but this requires watching the charts during the day time market session.
The example yesterday used this method because I have time during the London session. I have several H1 type of setups for the market sessions.

The other method is to place subsequent order at a pre-determined pips distance like a grid. Any grid size between 45% and 60% of the 100-days ADR is good. This can be done using stop orders and no need to look at charts all day long. I prefer this method and it can be automated in a trade manager and is relatively stress-free.

So far, does this answer your question?

regards.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #49,177
  • Jan 8, 2015 5:26pm Jan 8, 2015 5:26pm
Its been a while since I have been here ... I dare any of you yes DARE ....... you to take a look at trading made simple . Au ....

You know the person that Emmanuelle barred for standing up to him, better system than him ...... mmmmmm
If this gets removed then you will know the truth .......

Lets see as he is online right now.......
  • #49,178
  • Jan 8, 2015 5:31pm Jan 8, 2015 5:31pm
Quoting dennis4u15
Hi SJ, Just wanted to know if u take news into account when trading the 4hr time frame...its just that there is news on most major currencies nearly everyday...what looks good from technical point a view can get spiked during the news...I follow ur posts and am also trying trade the 4hr time frame as by the time the London market makes the move I have already hit the sack...I try to look for 4hr set ups on the late or mid Tokyo session and try n set TP so that I don't have to wake up in the NY session as its way too early for us here in New Zealand....
Hi Dennis,

I don't watch news at all trading the 4 hour or daily.
However "NFP" is the one exception to the rule, because of the
wild swings that can take out your positions...Short term traders (1 hour chart)
should be ok for quick in & out's.

The aud/usd as long as it stays below the guppy's on the daily, I'm bearish!
See your chart...that would make a nice short! Remember that tomorrow
is "NFP" & it can get pretty wild! I think I'll stay "flat in the markets" tonight.

sj
  • #49,179
  • Jan 8, 2015 5:41pm Jan 8, 2015 5:41pm
Thanks for the reply SJ...yes im waiting for some sort of confirmation to go short on AUD/USD...lets see if we get a trigger soon...or maybe like u said stay away as NFP is way too close.

Regards
Dennis
  • #49,180
  • Jan 8, 2015 5:46pm Jan 8, 2015 5:46pm
Quoting dennis4u15
Hi SJ, Just wanted to know if u take news into account when trading the 4hr time frame...its just that there is news on most major currencies nearly everyday...what looks good from technical point a view can get spiked during the news...I follow ur posts and am also trying trade the 4hr time frame as by the time the London market makes the move I have already hit the sack...I try to look for 4hr set ups on the late or mid Tokyo session and try n set TP so that I don't have to wake up in the NY session as its way too early for us here in New Zealand....
Hi dennis4u15, i remember asking SJ the very same thing last year - his advice was spot-on. I steer clear of the big red news

How lucky and fortunate are we to have such experienced traders supporting us so much A big thanks to all our senior traders SJ, Emmanuel, LW, Phx62, TSS... and many more traders... what a great team we have here
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