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Trading Made Simple

  • #51,961
  • Edited 9:07pm Jan 31, 2015 8:17pm | Edited 9:07pm
Quoting likica
I recently had my eyes on Ecad. It s interesting to see this pin bar on D chart {image}
Hi L, i nearly took ECad short (remember) and if it wasnt for the 4H i would have been smashed. Ok, first things first - when you have a D1 that looks like that go to the W1. This is no surprise to me - (yet another) classic 5 wave (impulse) move down - competed - with consistent correction characteristics moving into a flat(ish) corrective phase - as we all well know!!! This has been the underlying analysis for this MN no doubt! That said the range of the flat is huge 450+ pips but it really helps to see the big picture
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  • #51,962
  • Edited 8:52pm Jan 31, 2015 8:34pm | Edited 8:52pm
Quoting griffinssoul
{quote} Hi L, i nearly took ECad short (remember) and if it wasnt for the 4H i would have been smashed. Ok, first things first - when you have a D1 that looks like that go to the W1. This is no surprise to me - (yet another) classic 5 wave (impulse) move down - competed - with consistence correction characteristics moving into a flat(ish) corrective phase - as we all well know!!! This has been the underlying analysis for this MN no doubt! That said the range of the flat is huge 450+ pips but it really helps to see the big picture {image}...
Ok, so then look @ the D1 in the light of the analysis of the W1... on the D1 we see an expanding wedge/triangle and there is little effort required to see where PA is taking us (in this context of course... we can never infer PA from our belief system on the market ). Again, that said there is hundreds of pips to and fro before and during the final move high...

Notice the TDI crosses & angles at the major pivots - simply wonderful! When these become fragmented and more complicated its a sign of elevated volatility which is usually accompanied by longer wicks [this still makes me laugh...]
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  • #51,963
  • Jan 31, 2015 9:02pm Jan 31, 2015 9:02pm
Quoting redcloudxlll
{quote} Sweet Trading!!!! This month I did very well one week but not so good others. Have to keep on practicing. Hoping to a better month. I had a total of 95 trades this month. 40 winners 55 losers luckily my losers were not extreme. . Made lots of mistakes but slowly fixing them. My best week was week 3. For the month of January, still came at 72.3%. 759 Pips. I need help!!! Focus and take the trades with all conditions met. And learn to take profits :-/ The hardest, I keep on wanting more. instead of taking every pip.
I always look at my stats to tell me what i should be doing - for example, if they are telling me i should be trading the 4H and not the 15M i would then re-adjust my approach and focus on my strengths. Of course, you have to keep doing this over and over - i am always puzzled when traders say that "i am going with this approach" and fix that in - hardly anything is fixed in this game? It may change from W1 to W1 or MN to Y1 etc...

Red, you are trading a lot (way more than me) [not a Lot but a lot ] - if i tried the same i would be losing bad cause thats what my stats tell me - use the power of the stats
  • #51,964
  • Jan 31, 2015 10:42pm Jan 31, 2015 10:42pm
Quoting swissyking
hi guys, I would like to start by saying this is a great thread, I have learnt a lot, I have also read bigE TMS system, and I follow it. but im regretful that I still lose out. I was wondering if any one can actually help me out, or some advise would be great. Yes I follow exactly as the system states.. I just don't understand where im going wrong. cheers guys
Hi,

I can certainly help you only when you post your charts showing your trades taken with entry and exit.
Do you know how to select, drag and drop your closed trades from your MT4 terminal Account History onto your chart?

Also, since you know the TMS 5-Method rules, why not you write the rules down and post here.
let us have a look and confirm what your rules are.

You should know that the TDI is the heart of this trading method. There are different trading styles when we use the TDI.
I think for beginners to TMS, the Active trading style is best to start with.

Attached Image


regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #51,965
  • Jan 31, 2015 11:05pm Jan 31, 2015 11:05pm
Quoting emmanuel7788
{quote} Hi, I can certainly help you only when you post your charts showing your trades taken with entry and exit. Do you know how to select, drag and drop your closed trades from your MT4 terminal Account History onto your chart? Also, since you know the TMS 5-Method rules, why not you write the rules down and post here. let us have a look and confirm what your rules are. You should know that the TDI is the heart of this trading method. There are different trading styles when we use the TDI. I think for beginners to TMS, the Active trading style...
Emmanuel, Can I know what is your principal signal (or your signals) of entry? When you know to make a buy or sell... and exit obvoiusly
  • #51,966
  • Jan 31, 2015 11:05pm Jan 31, 2015 11:05pm
Quoting trdmny
{quote} Looks like you got it going on...Can you tell me from your statement above, do you just look at the body of the candle or do you consider the wicks of the candles also? Thanks for your help! I guess these below would be master candles and you wait for the break of those 4 candles? {image}
http://www.forexfactory.com/attachme...1&d=1422727417

Quoting pips29
{quote} The wicks are also part of a candle and yes it must be taken into consideration unlike bullish/bearish bars where some traders consider it enough that bodies engulf without taking wicks into consideration. Emmanuel trade Master candle breakouts quite regularly and he can tell you much more than I can .I don't look for this type of breakout to trade . I just wanted to make clear the definition of a master candle and nothing else. You have spotted those master candle breakouts correctly as per definition. I need to point out that the breakout...
Hi,

I defined my Master Candle with 3-engulfed price bars within that master candle. This is the most frequent occurring master candle than the other MC with 4 or 5 engulfed price bars.

Beside looking at MC, we must also observe the price structure, where the swing high and low are made on our charts.
I swing high is not confirmed until we see the low of the swing high price bar being taken our by a price bar closing below its low.
See my comments on your chart posted.

The other thing we must learn to observe potential Master candle early is when the price bar is a Wide Range Bar WRB and when that WRB is close to a support and resistance level, round number price '00' and '50'. When a WRB shows up, we look at the next price bar if that close as an Inside Bar. This is the reason why I often said that we must not chase after the market and jump in a WRB. When we see an IB after the WRB, then we wait for the next breakout. Now is the time to evaluate the swing high and swing low and wait for that to be confirmed then we trade the continuation of a new trend. This applies to all timeframes. Do not pick top and bottoms as it has more risks.

Now study at the chart below and plan your trades for next 4 weeks in Feb.

Good trading in a new month.
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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #51,967
  • Jan 31, 2015 11:48pm Jan 31, 2015 11:48pm
Quoting AlexoBrawler
{quote} Emmanuel, Can I know what is your principal signal (or your signals) of entry? When you know to make a buy or sell... and exit obvoiusly

Hi Alex,

I don't trade based on signals. I trade using Price Action and Support and Resistance.... PASR.
I use TMS 5-Method as my core technical trading methodology with PASR as my 'leading indicator'. This same core method I use to trade H1 intraday, 4H swing trading and D chart position trading.
The inspiration I get from TMS is eelfranz posts #261 and #647. I do not trade like him as he laid out in post#1. He had a scalping trading style and use a time entry and timed exit strategy and using only the TDI and APB candle #1 and #2 as entry.

I trade trend reversal price bar pattern at support & resistance and always with a view to the higher timeframes using a 3 timeframe analysis approach.
I prefer to trade continuation type of setups after a reversal and a new trend has been established. this when I look at price bar patterns like Inside Bars, Double Inside Bars, Master Candles, Engulfing Bars, Outside Bars,... during a confirmed trend.
TMS is a trend trading method based on using price momentum shown by the TDI moving averages. Buy and Sell is determined by the price action which must be supported by increasing price momentum seen in the TDI.
Exit of trades is dependent on the Exit Strategy of the trader's trading system. Every trader is different, therefore I always emphasize that every TMS trader must use the 5-Method as the core and develop TMS into his/her own winning trading system to suit his/her personal trading style.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #51,968
  • Feb 1, 2015 12:06am Feb 1, 2015 12:06am
Quoting snarlyjack
{quote} Emmanuel, I think using the histogram is a great idea We have 2 really good Tms systems. 1). Aggressive system. (scalping, intraday trading). 2). Conservative system. (swing & position trading). Both system are very similar and work off of the same principals. But they are both just a little bit different from each other... I think this is excellent! Thank you... sj
Hi SJ,

Many new TMS traders do not know how to read the price action using the APB candles.

TDI is the heart of this simple 5-Method, then the APB must be the heart-beat which TMS traders must follow this heart-beat. A healthy heart-beat must be strong and that is what the body of the APB is showing us. Your 'yellow brick road' is the flow, ... your guppy is what the healthy arteries must be widen to improve more blood flow through the body system.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #51,969
  • Feb 1, 2015 12:34am Feb 1, 2015 12:34am
Quoting emmanuel7788
{quote} Hi SJ, Many new TMS traders do not know how to read the price action using the APB candles. TDI is the heart of this simple 5-Method, then the APB must be the heart-beat which TMS traders must follow this heart-beat. A healthy heart-beat must be strong and that is what the body of the APB is showing us. Your 'yellow brick road' is the flow, ... your guppy is what the healthy arteries must be widen to improve more blood flow through the body system. regards,
Hi..agreed..PA is the king..may i know which broker u use because daily tf need to close at NY market close
FXerha
  • #51,970
  • Feb 1, 2015 12:52am Feb 1, 2015 12:52am
Quoting emmanuel7788
{quote} Hi Alex, I don't trade based on signals. I trade using Price Action and Support and Resistance.... PASR. I use TMS 5-Method as my core technical trading methodology with PASR as my 'leading indicator'. This same core method I use to trade H1 intraday, 4H swing trading and D chart position trading. The inspiration I get from TMS is eelfranz posts #261 and #647. I do not trade like him as he laid out in post#1. He had a scalping trading style and use a time entry and timed exit strategy and using only the TDI and APB candle #1 and #2 as entry....
Hi emmanuel, not the right thread to post, but thanks for your great work in teaching us. U r a great man. I love PASR type of trading and I was thinking, why don't open a thread based on that subject? I'm sure you would have lot of followers

Here at FF we haven't a good thread based purely on PA since James16's one.

Just an idea.

Thanks
  • #51,971
  • Feb 1, 2015 1:34am Feb 1, 2015 1:34am
Quoting lucariga
{quote} Hi emmanuel, not the right thread to post, but thanks for your great work in teaching us. U r a great man. I love PASR type of trading and I was thinking, why don't open a thread based on that subject? I'm sure you would have lot of followers Here at FF we haven't a good thread based purely on PA since James16's one. Just an idea. Thanks
Hi lucariga, totally agree with you . . .
  • #51,972
  • Feb 1, 2015 2:46am Feb 1, 2015 2:46am
Quoting griffinssoul
{quote} Ok, so then look @ the D1 in the light of the analysis of the W1... on the D1 we see an expanding wedge/triangle and there is little effort required to see where PA is taking us (in this context of course... we can never infer PA from our belief system on the market ). Again, that said there is hundreds of pips to and fro before and during the final move high... Notice the TDI crosses & angles at the major pivots - simply wonderful! When these become fragmented and more complicated its a sign of elevated volatility...
Honestly, I have a very limit knowledge of what you are talking about. I can only see where D1 has nice pin bar telling me not to go long for the time being. Will wait to see how the very next candle forming and act accordingly.
However, W1 is parking right at 50% fib and has a big bullish candle and TDI crossed after that nice pin bar rejected by guppy and 200MA ( I bet someone got killed by going short there) .
hmm....I can't understand how to take it into long term trading...
Appreciation is the key to wealth and happiness
  • #51,973
  • Edited 3:29am Feb 1, 2015 3:07am | Edited 3:29am
Quoting likica
{quote} Honestly, I have a very limit knowledge of what you are talking about. I can only see where D1 has nice pin bar telling me not to go long for the time being. Will wait to see how the very next candle forming and act accordingly. However, W1 is parking right at 50% fib and has a big bullish candle and TDI crossed after that nice pin bar rejected by guppy and 200MA ( I bet someone got killed by going short there) . hmm....I can't understand how to take it into long term trading...
I can just guess what SK will say - "i didnt understand a single word" The point is knowing the big picture is good but as Phx62 (and many other traders have said) you can still steal pips on the LTFs - as you have shown us over and over again (when there is a trend in place there may well be a bias but in consolidations i doubt that would be true in general unless there is a break-out in progress)!!! Yes, on the W1 the current move down is part of the correction for a bigger move up etc (fractal nature of PA according to EWT per TF)... forget about it... LOL!!!

Just to confuse you even more that pin bar/ shooting star broke out of (and closed above) the Kumo (ichimoku) which is a bullish sign
  • #51,974
  • Feb 1, 2015 3:08am Feb 1, 2015 3:08am
Quoting likica
{quote} Honestly, I have a very limit knowledge of what you are talking about. I can only see where D1 has nice pin bar telling me not to go long for the time being. Will wait to see how the very next candle forming and act accordingly. However, W1 is parking right at 50% fib and has a big bullish candle and TDI crossed after that nice pin bar rejected by guppy and 200MA ( I bet someone got killed by going short there) . hmm....I can't understand how to take it into long term trading...
Not only should you look at the candle itself but its location. It may look like a pin bar but its not. A bearish pin bar has to be at the top of an uptrend to show its lying about which direction its going in, at the bottom of a down move its an inverted hammer which has a high chance of going back up.
  • #51,975
  • Feb 1, 2015 3:17am Feb 1, 2015 3:17am
Quoting lastingwell
{quote}Not only should you look at the candle itself but its location. It may look like a pin bar but its not. A bearish pin bar has to be at the top of an uptrend to show its lying about which direction its going in, at the bottom of a down move its an inverted...
Absolutely correct!!! - this is fundamental to PA...
  • #51,976
  • Feb 1, 2015 3:26am Feb 1, 2015 3:26am
Quoting likica
{quote} Honestly, I have a very limit knowledge of what you are talking about. I can only see where D1 has nice pin bar telling me not to go long for the time being. Will wait to see how the very next candle forming and act accordingly. However, W1 is parking right at 50% fib and has a big bullish candle and TDI crossed after that nice pin bar rejected by guppy and 200MA ( I bet someone got killed by going short there) . hmm....I can't understand how to take it into long term trading...

Well, first look Monthly and Weekly charts, the market is sideways wide ranging.
then on D chart, I always look at the price bars swing high and swing low.
For the EURCAD D chart, that bullish pin bar made a swing high, and that is not confirm swing high until I see that pin bar taken out by a price bar close below that pin bar low.
When we see a swing high or a swing low, and wait for the price bar that will take out the swing high or swing low price bar, then look at the APB colour, if that price bar which confirm the swing high / swing low is a APb colour change candle and the TDI shows 4-6 or 12-2 angle or a cross, that is the setup candle.

I think this is simple PA rule for TMS and with the APB and TDI as our indicators. Works on all time frames.

Sorry no chart now, sitting outside watching the night sky for shooting stars.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #51,977
  • Feb 1, 2015 3:53am Feb 1, 2015 3:53am
Quoting emmanuel7788
{quote} {image} {quote} Hi, I defined my Master Candle with 3-engulfed price bars within that master candle. This is the most frequent occurring master candle than the other MC with 4 or 5 engulfed price bars. Beside looking at MC, we must also observe the price structure, where the swing high and low are made on our charts. I swing high is not confirmed until we see the low of the swing high price bar being taken our by a price bar closing below its low. See my comments on your chart posted. The other thing we must learn to observe potential Master...
which the configuration of this EMA is 5 ema deviation 3?
Thank you and sorry for the confusion I have been reading everything, but takes time.
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  • #51,978
  • Edited 4:57am Feb 1, 2015 3:54am | Edited 4:57am
Good morning Emmanuel,
(it's 4:45 a.m. Sunday morning my time).

I think Tms is a very interesting & good place.
I also think we are attracting some very good traders that
basically trade the same way. Using the tdi & apb's to lead the way.
We are all looking at price action in the apb's.

We live in different places in the world and were having to look
at different time frames and because of that were having to
look at different things.

I think for everyone's sake we should keep the forum exactly as
it is. We can all learn from each other and I think the learning
is quicker this way. We all have the same basic goal and that is
to make money. I don't think their is a right way or a wrong way
we all use what works for us. So please stay & let's really get this
thing going! We all could be trading at a very high level pretty quickly...

sj
  • #51,979
  • Feb 1, 2015 3:55am Feb 1, 2015 3:55am
Quoting omonisha
USDJPY- Weekly closed with 2 IB. On D1 a descending wedge. If to trade short should we enter on the break of the IB's or we wait for the MC to break ? {image} {image}
Hi amonisha
seems you have a nice support indi, can you share it?
Thanks
  • #51,980
  • Feb 1, 2015 4:12am Feb 1, 2015 4:12am
Quoting macdh4
{quote} which the configuration of this EMA is 5 ema deviation 3? Thank you and sorry for the confusion I have been reading everything, but takes time. {image}
Hi macdh4,

That is not my chart. I used the member's trdmny chart posted byb him to explain how I look at the swing high and swing low and those master candles.

If you want to use the 5EMA, it is set to close price, + shift3.

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