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Trading Made Simple

  • #53,321
  • Feb 14, 2015 11:11pm Feb 14, 2015 11:11pm
Oh I'm not using an EA to test the strategy. The EA is just a empty shell that starts the visual tester in MT4, then you can use indicators and trade as would normally, you can't switch timeframes though. That way you can trade based on the setup you see with no unconscious influence of what comes next as you would if you looked at an example chart.
  • #53,322
  • Feb 14, 2015 11:30pm Feb 14, 2015 11:30pm
Quoting Tollazor
Oh I'm not using an EA to test the strategy. The EA is just a empty shell that starts the visual tester in MT4, then you can use indicators and trade as would normally, you can't switch timeframes though. That way you can trade based on the setup you see with no unconscious influence of what comes next as you would if you looked at an example chart.
LFH Trade Simulator is a great tool for testing the strategy using historical data. The simulator acts like a live market and you can enter/exit using scrips that come with the sim.
  • #53,323
  • Feb 14, 2015 11:43pm Feb 14, 2015 11:43pm
It's amazing how often I pick the very tops and bottoms of a move... in the opposite way I want :/
  • #53,324
  • Feb 15, 2015 12:50am Feb 15, 2015 12:50am
What is it that I'm seeing that makes me make the complete wrong call at almost exactly the right time so often? Surely the experienced traders have experienced this whilst learning, what do you think it was when it happened to you?
  • #53,325
  • Feb 15, 2015 1:02am Feb 15, 2015 1:02am
Quoting Tollazor
What is it that I'm seeing that makes me make the complete wrong call at almost exactly the right time so often? Surely the experienced traders have experienced this whilst learning, what do you think it was when it happened to you?
Unless you post a chart or two, we are not going to see what you're seeing.
  • #53,326
  • Feb 15, 2015 1:46am Feb 15, 2015 1:46am
Ok, So what would you do here?

The Cross was down on the 2nd last candle, the following candle is just a little after open.
It has a nice angle on the green curve, it's crossed under red, stochs point down nicely too.
Those colours are market times, Red is Aus then moving into Londan.

Attached Image (click to enlarge)
Click to Enlarge Name: DownOrUp.jpg Size: 470 KB
  • #53,327
  • Feb 15, 2015 1:58am Feb 15, 2015 1:58am
Quoting realjumper
{quote} Yes...and you never see any live trading at all...ever. Lot's of claims and hindsight trades, but nothing live, even from those who are claiming huge monthly gains...... I wonder why that is?
Hi realjumper

I touched on this a while back with Snarlyjack ref his post 52091. It seems even some of the experienced traders are concerned with posting timely charts of trades taken ....I too wonder why! Of course we know the answer....its called ego and reputation protecting for fear of losing any credibility if a trade becomes a loser ..... Personally I've always posted my charts soon after I've made a trade with some kind of explanation normally.... knowledge is gained from all for both winning and losing trades, and I believe credibility can only be only gained by declaring such trades for all to witness early enough so that a trade can be progressed in real time. Only then are "pats on the back" from all and sundry warranted so far as I am concerned, anything else is wasting peoples time and clogs up this thread with hundreds of pointless posts imo.

I doubt my comments will go down well with the serial posters that abound here..... again I wonder why that could be!
  • #53,328
  • Feb 15, 2015 2:04am Feb 15, 2015 2:04am
Wouldn't you believe, I go to show some examples of what I mean and BAM! they ALL are good.

The only difference I can see is that the ones that were all good had a strong long term downtrend going on, clearly visible on the hourly chart.

How can you tell when a market has changed from generally trending to ranging? It seems this method is terrible for a relatively (relative to the volatility) tight ranging market.

It also seems terrible for relatively high volatility. How do you guys judge when the market is too volatile to trade with TMS?

For example, from about July 2014 all through to dec 2014 trading EJ with this method had lots of false alerts and traps. Now Jan 2015 all month has been super easy to trade with TMS, the majority of signals are solid plays. The main difference I see is the volatility and the clearer trend. However it's easy to see trends in hindsight. Perhaps I think solid non volatile trends are very rare and most people are trading the volatile semi-range/semi-trend charts. Is this not true, is it the other way around?
  • #53,329
  • Feb 15, 2015 2:22am Feb 15, 2015 2:22am
Quoting Tollazor
Wouldn't you believe, I go to show some examples of what I mean and BAM! they ALL are good. The only difference I can see is that the ones that were all good had a strong long term downtrend going on, clearly visible on the hourly chart. How can you tell when a market has changed from generally trending to ranging? It seems this method is terrible for a relatively (relative to the volatility) tight ranging market. It also seems terrible for relatively high volatility. How do you guys judge when the market is too volatile to trade with TMS? For example,...
Hi Toll,

Good questions.....I always think that any trend occurring is time-frame dependent. This means that x amount of candles or time periods whether it be 5 min charts or daily charts, it doesn't matter, but just be aware that 8 or so trending candles or periods for me is considered a fair run and likely to start consolidating/reverse/pullback. This doesn't mean btw that a decent run of candles will always happen as we know...and that's when we all get chopped about creating indecision for all, and is largely responsible for the so many b/e trades as a result of this chop. As traders it's something we have to be aware of and manage the trades accordingly
  • #53,330
  • Feb 15, 2015 2:56am Feb 15, 2015 2:56am
Quoting Tollazor
Ok, So what would you do here? The Cross was down on the 2nd last candle, the following candle is just a little after open. It has a nice angle on the green curve, it's crossed under red, stochs point down nicely too. Those colours are market times, Red is Aus then moving into Londan. {image}
Tollazor, your chart is very strong and hard on eyes. I've picked the same time on my EJ chart and I believe it may reflect a little on your question.

Attached Image (click to enlarge)
Click to Enlarge Name: EJ H1 for Tollazor.png Size: 278 KB


Kindest Regards
  • #53,331
  • Feb 15, 2015 3:21am Feb 15, 2015 3:21am
Quoting Ballistical
2015 Week 7 - Trade Summary: 4 trades in total: - 2 win - 1 BE - 1 Loss A poor start to this week where I feel I was a little unlucky with my SL's getting hit. Things picked up towards the end of the week though and I finished with +75 pips net for +6% on the account. This will go some way towards recovering from the technical issue which hit me last week. Monday: Took entry short at LO on a break below Frankfurt. The trade was headed for the 200EMA but I considered that London momentum would probably break right through this. Moved SL to BE at...
Great trading and summary again!

I feel honored that you quoted me in your post. I still advocate that due to recent very choppy markets, we should keep a SL at a decent -25 pips at all times. Still would ensure a 2 : 1 RR that would work in long term. Will return after end-of-the-week backtesting.
  • #53,332
  • Feb 15, 2015 3:34am Feb 15, 2015 3:34am
Quoting likica
Just wanted to share with you a beautiful shot of oil trades yesterday Friday 13th . These were taken from Ninja Trader 8 Range chart in conjunction with M5 and M15 charts, same concept I use for oil trades on MT4 I regularly posted in this thread. {image}
likica, may I ask what is your approach on setting the TPs? On my charts I have the daily, weekly and monthly S/R levels, and I usually use those as TP. When a level is too far I place a fib of the last swing. I still don't scale out positions, but I think it is time to begin doing it.

Besides that, I'm interested in other people TP strategies, as I always feel I left some pips on the market!

Thank you very much to everyone!
Had to be me. Someone else might have gotten it wrong.
  • #53,333
  • Feb 15, 2015 5:08am Feb 15, 2015 5:08am
Quoting MrAussieFX
{quote} Tollazor, your chart is very strong and hard on eyes. I've picked the same time on my EJ chart and I believe it may reflect a little on your question. {image} Kindest Regards
http://www.forexfactory.com/attachme...1&d=1423990549

MrAussieFX,

Excellent post. Your clearly explained chart says it all.
That is great help to new traders to TMS.
You are the best.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #53,334
  • Feb 15, 2015 5:12am Feb 15, 2015 5:12am
Hi Guys,

could you please remind me the name of an indicator that enables to make some notes(e.g. trading rules to follow) in the right top corner of MT4 window?
I tried to find it in paperclip but wasn't able.

Regards
LS
  • #53,335
  • Feb 15, 2015 5:13am Feb 15, 2015 5:13am
Quoting snarlyjack
{quote} What settings is everyone using for the Sm_ADR Marker? The current settings for the ATR period is 14. Thanks, sj

Hi SJ,

The default is set to 30-days ADR.
But I look at the 100-days ADR which is conservative over a longer number of days. In my pre-trade planning, I compare with the recent 5, 10 and 20 days to see if there is any significant change in volatility.
What I find good about using the SM_ADR Marker is that it works in a dynamic way following the day price action.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #53,336
  • Feb 15, 2015 5:16am Feb 15, 2015 5:16am
Thanks for the chart MrAussieFX. I see you are using, what I assume, is updated TDI indicator settings. Your one seem to have a better fail rate?

edit: Also, sorry for the eye bleeding charts.
  • #53,337
  • Feb 15, 2015 5:45am Feb 15, 2015 5:45am
Quoting sknight1
{quote} I'm sorry, but would you clarify this for me....? You're up 4820 pips for the month of February, in which there have been 10 trading days thus far... which means you've averaged 482 pips per day. Correct....???? Please, drag / drop some trades from your account history tab onto you their respective charts, and post those charts.
Hi sknight1,

Well, if you simply divide the nett pips won with the number of trading days in Feb, then the maths is correct. But these are trades which are closed by the 14 Feb and there were some trades which were roll-over from Jan. These are trades open in the last 2-3 days in Jan and were closed in early Feb. The statistics report the close dates of the trades and not their open date/time. In total there were 67 closed trades in Feb, with 61 wins and 6 losses. If I take only the win trades, the average pips per trade is 91pips. I have all trades exported to Excel spreadsheet where I do my own analysis. This is my own trading journal which I use for system performance analysis.

Let me find some time later and show all the trades on their respective charts. You have to PM me if you want to see those charts. I only share those charts and trade journal among my group of active TMS traders at the end of each month and those who subscribe to me and share the same trading beliefs. But since you asked, I will be transparent with you as I have nothing to hide. I am not selling anything here and have no commercial interest. A lot of my trading stuff and tools and personal and I do not want these to be made available in a public forum like this.
Why I post my day trades results is because I want to share with those who have day jobs and can only trade the Day charts or to trade only once per day. I know many traders here wants to learn and know how they can trade TMS 5-Method to give them a supplement income in addition to their day jobs. It can be done and I want to share that here.

Read my post link: Post#52,347 to get an idea how I trade TMS 5-Method using different timeframes.

Also, to better understand what I mean by trading Multiple Entries / Multiple Exits, you must read these following posts so that when you see my charts, it will be easier to see my trades entries and exits.

Entry and Exits: Post#24,918 Post#18,422 Post#19,617

How to Build a Position: Post#19,588 Post#20,342

Profiting in Forex : Post#20,118

Three Powerful Forex Price Pattern: Post#20,110

In the past, I did post some pre-trade analysis on a weekly basis and also when I open new trades as planned. These were done live and updated live in this thread to show how I manage my trades. But I got feedback form members, some good and some not so good. Some traders followed my trades but lost money because they did not understand my exit strategy and also they did not use the % risk model and do position sizing. They place H4 trades with fix lot size with small SL of 30 to 50 pips and get stopped out easily. They did not understand position sizing and think that a 100pips initial SL is too much. Some traders did not have any trading plan and follow trades blindly. Many did not understand why I have a Plan A and a Plan B in my trade planning. yet some did nt know how to make recovery trades to recover their losses.
I posted two charts today - GBPNZD and NZDUSD day charts. Look at them and see if you share the same analysis and view, and how I will trade these currency pairs next week. I use the 20-day MA on the TDI for specific reason to trade the Day chart. Learn to see why on that two charts. These are live examples, but many members still don't get the big picture.

So much for now, I think you have plenty to read and catchup. Then when you see my trades on charts, you will find that easier to understand the way I trade the Day chart with ME/ME.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #53,338
  • Feb 15, 2015 5:58am Feb 15, 2015 5:58am
Quoting stanvy
{quote} hi emm, would you mind to post your fxbook username or link so we may learn from your history trade?

Hi Stan,

Do you believe that trade explorer and myfxbook can be manipulated ..? Some people believe that and I read that here in FF.

My myfxbook account details are for me and my own trading buddies only. I have shared a lot of stuff in the past 3 years and I think there is quite enough for everyone to pick and choose what they want to learn. I will not share anymore in this public forum since now I read some much negativity about what is going on when members posted their trades and get all the unkind remarks.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #53,339
  • Feb 15, 2015 6:09am Feb 15, 2015 6:09am
Quoting Phx62
{quote}{quote} Actually the candle following LO pulled back 28 pips and then moved long again. When the red candle printed, the TDI green had not crossed over the red, so I stayed in. If the candle following the red candle had pulled below the 2nd London candle, I would have exited for a loss.
Thank you for taking the time to explain.
  • #53,340
  • Feb 15, 2015 6:21am Feb 15, 2015 6:21am
Quoting nods80
{quote} Ditto and aussiefx
... i raise your Ditto... thanks MrA for the amazing analysis
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