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Trading Made Simple

  • #53,861
  • Feb 22, 2015 7:13pm Feb 22, 2015 7:13pm
Hiya TMS veterans. I have a question regarding your stop loss, if you use them. When a trade moves in your favour and has sufficient passed your BE point by say 20% or so, do you move your stop loss to the BE point and setup a trailing stop. If you do, do you find that you often get gypped out of some profits you otherwise would have got if you left your TP/SL at their original points?

Right now I'm using a simple system of 1:2 risk reward ratio to set my SL and TP points and using TDI to pick the best setups for a realistic 1:2 trade. So when the cross happens is it in a spot for a favorable 1:2 trade? It seems to be working quite well, I have noticed some of my losses had actually been profitable at 1 point and a break-even stop would have prevented any loss from that trade. I don't really have many trades that go the other way, in that a BE stop would have lost the full trade. It could be a case of not enough trades to make it show up.

What are you thoughts on the matter?
  • #53,862
  • Feb 22, 2015 7:25pm Feb 22, 2015 7:25pm
Quoting Tollazor
Hiya TMS veterans. I have a question regarding your stop loss, if you use them. When a trade moves in your favour and has sufficient passed your BE point by say 20% or so, do you move your stop loss to the BE point and setup a trailing stop. If you do, do you find that you often get gypped out of some profits you otherwise would have got if you left your TP/SL at their original points? Right now I'm using a simple system of 1:2 risk reward ratio to set my SL and TP points and using TDI to pick the best setups for a realistic 1:2 trade. So when the...
Hi Tollazor, I stopped using a TS because it would often get hit and then the trade would go and hit my target without me. I now have my TP moved when I hit certain point say 20pips but try and make sure it is just above/below s/r levels. I only use a TS if I have hit my tp target and think it is worth letting a trade run.
Intelligence is the ability to adapt to change. Stephen Hawking
  • #53,863
  • Feb 22, 2015 8:23pm Feb 22, 2015 8:23pm
Just thought I would share this image I found. it made me smile.

Attached Image (click to enlarge)
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Intelligence is the ability to adapt to change. Stephen Hawking
  • #53,864
  • Feb 23, 2015 12:13am Feb 23, 2015 12:13am
Quoting fortunemaker
Hi Emmanuel, How best we can use 50 EMA, 200 EMA and 20 SMA in trading. I am practicing NY Sessions on Daily and H4 Charts. Thanks.
Quoting snarlyjack
{quote} Fortunemaker, I'm not Emmanuel. But the 20 sma, 50 ema & 200 ema are all used for trend analysis. 1). 20 sma = short term trend. 2). 50 ema = medium term trend. 3). 200 ema = longer term trend. When your using these moving averages, trade "away" from them, that way your trading with the trend. If you trade "into" them you are trading a counter trend trade, which is higher risk. sj
Hi Fortunemaker,

SJ has shared how moving averages can be used a trend filter.
Here in FF there other threads which are off-shoot from Eric' TMS. X-man has his H1 and H4 'systems', LE1 has his M15 system, both these 'systems' uses moving averages add-on to the TMS 5-Method.

For more ideas, you can read the pdf in Post#42,728. How to find High Probability Trading Opportunities using Moving Averages.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #53,865
  • Feb 23, 2015 12:22am Feb 23, 2015 12:22am
Lastingwell,
Since the atr's have dropped, would it be safe to say that the pairs having more than 150 atr value can have a 100 pip TP and the pairs with 100-150 atr should have a 75 pip TP. Asking, because in a previous post u said your TP's would get smaller if the atr values decreased. Would this be the right way to go about it.
  • #53,866
  • Feb 23, 2015 12:39am Feb 23, 2015 12:39am
Quoting haydo147
Since im in the middle of a planning session for this coming week, I've decided to share my analysis of EU, I may be right or wrong but this is how I currently see things. Take from it what you will Im still learning, comments and critique/constructive criticism are encouraged. thanks, -hayden {file}
Hi Hayden,

EU is 'trapped' inside a range set by the week 05 Weekly high-low. since then no weekly price bar/candle has closed outside that week 05 high.
trading has been reduce to lower timeframe only and with the low range and ATR it is still possible to get RR 1:1 trades but do not expect 100pips on either H4 or H1.

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD Week 09 W1 chart 23 Feb.png Size: 36 KB

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Click to Enlarge Name: EURUSD Week 09 D1 chart 23 Feb.png Size: 53 KB

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Click to Enlarge Name: EURUSD Week 09 H4 chart 23 Feb.png Size: 67 KB

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD Week 09 H1 chart 23 Feb.png Size: 71 KB


In every chart timeframe, we can simply look at the recent swing highs and swing lows to determine where recent support and resistance were and trade with them.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #53,867
  • Feb 23, 2015 1:51am Feb 23, 2015 1:51am
Hi everyone,

Just entered short on UC

TDI cross
stoch oversold and heading down
bounce from PDH + PWH

was this a good entry? i know last week was bullish but im counting on this week to be down and finishing the month lower.

price is sitting at a pretty strong historical resistance on the monthly.

Attached Image (click to enlarge)
Click to Enlarge Name: UC short.png Size: 38 KB


-hayden
  • #53,868
  • Feb 23, 2015 3:31am Feb 23, 2015 3:31am
Quoting haydo147
Hi everyone, Just entered short on UC TDI cross stoch oversold and heading down bounce from PDH + PWH was this a good entry? i know last week was bullish but im counting on this week to be down and finishing the month lower. price is sitting at a pretty strong historical resistance on the monthly. {image} -hayden

Hi,

I don't trade this pair. But one look at the Monthly and Weekly, I see that this pair is trading within the range of the weekly candle high-low. The Hist S&R creates a short term consolidation seen on weekly with that weekly inside bar.
Therefore using the weekly high-low as support and resistance, it is possible to get D and H4 trades in the direction of last MN bullish candle.
Today, we should avoid trading against the previous D bullish candle and also against the H4 TDI.
Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD week 09 23 Feb W1 chart.png Size: 56 KB


On a longer term, we should be looking at buy and to see if that Hist S&R 1.2762 will be tested again, normally we should see a strong Day candle closed across this level.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #53,869
  • Edited 5:10am Feb 23, 2015 4:01am | Edited 5:10am
Quoting nods80
Just thought I would share this image I found. it made me smile. {image}
Hahahaha, yes I found myself 6-7 years ago in it ..
Means not I don t do mistakes twiice.. nononon, I make them 5...6..7 times just to be sure its not working
hehehe

Good post man !
Risiko birgt immer auch die Chance.
  • #53,870
  • Feb 23, 2015 4:24am Feb 23, 2015 4:24am
Quoting lastingwell
I've been getting a lot of pms about the way I trade so one more time I will show the way I do it in detail. I haven't taken images of all the trades as I wasn't going to post about it again on here, but this morning I did so I could post it today. This is how I look at the charts. What I am basically doing is trading the higher timeframe's tdi bends and steps along with good pa on the lower timeframe, so in the case of H4 this morning I was looking at pa on there along with a bend in the daily. Note: If I'm on the lower timeframes I need to see...
lastingwell, excuse me, don't want to be tiresome, but please, whenever you have time, could you upload the pictures of your last week trades? I amongst others, will find them very useful.

Thank you very much for your work
Had to be me. Someone else might have gotten it wrong.
  • #53,871
  • Feb 23, 2015 4:32am Feb 23, 2015 4:32am
Quoting emmanuel7788
{quote} Hi, I don't trade this pair. But one look at the Monthly and Weekly, I see that this pair is trading within the range of the weekly candle high-low. The Hist S&R creates a short term consolidation seen on weekly with that weekly inside bar. Therefore using the weekly high-low as support and resistance, it is possible to get D and H4 trades in the direction of last MN bullish candle. Today, we should avoid trading against the previous D bullish candle and also against the H4 TDI. {image} On a longer term, we should be looking at buy and to...
Yeah i got stopped out quickly after price broke the PWH, your chart helped me realize my error, thanks.
  • #53,872
  • Edited 5:19am Feb 23, 2015 4:47am | Edited 5:19am
GU +25 (initially 30, was afraid it would bounce off the pivot, how wrong was I..), entered after a break of a trendline+TDI cross on m15.
EJ, entered at the open of the 3rd H4 candle, TDI had crossed on H1 and H4 12 gmt +3 (my time) went to +30 so I locked b/e hope to see a 100 pip TP but I'll be happy with a 50 either way, it's only monday.

edit: readjusted TP on EJ to 50 pips, going to be a long way down it seems.
Attached Images
  • #53,873
  • Feb 23, 2015 4:47am Feb 23, 2015 4:47am
Hi guys,

Haven't traded anymore last week. Needed to get back to the basics and read my trade plan again and again. Spent a lot of time reading and learning this weekend.
Here is my trade I made this morning just 30 sec before FO bar close and LO open. I think this is a genuine TMS trade with a valid set up, am I correct?

Hope to get soms feedback although it is a winning trade.

Regards, Wes.
Attached Image (click to enlarge)
Click to Enlarge Name: EU.jpg Size: 145 KB
  • #53,874
  • Feb 23, 2015 5:09am Feb 23, 2015 5:09am
I took this trade in the choros system as a 50 touch , after viewing it , it was totally valid in TMS as well !
13 pips profit , reason was the priceaction to " risk " the entry.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDcM1.png tms 23.2..png Size: 39 KB
Risiko birgt immer auch die Chance.
  • #53,875
  • Feb 23, 2015 5:14am Feb 23, 2015 5:14am
Quoting Tollazor
Hiya TMS veterans. I have a question regarding your stop loss, if you use them. When a trade moves in your favour and has sufficient passed your BE point by say 20% or so, do you move your stop loss to the BE point and setup a trailing stop. If you do, do you find that you often get gypped out of some profits you otherwise would have got if you left your TP/SL at their original points? Right now I'm using a simple system of 1:2 risk reward ratio to set my SL and TP points and using TDI to pick the best setups for a realistic 1:2 trade. So when the...

When you plan your trade with a RR 1:2, then you can consider to manage your trades using the R-Multiple method.
Your initial risk is 1R and your TP is 2R. You move your SL to BE+ when the market move in your favour by +1R. This is a proven trade management exit strategy for 4H swing trading. You can also move your trade to BE+ when market move +0.5R in you favour, this way you effectively reduce your trade risk to 0.5R and still aim for a 2R trade.

The conventional trailing stop is not effective as market tends to move up and down and trailing stop get hit easily. Better to consider using jumping stops in set number of pips instead.

Trailing behind previous candle(s) is another consideration. this method will get you stopped out when market breaks out then goes into consolidation. Good for h1 intraday trading. Read my post EURAUD H1 trade on 19 Feb last week.

Read this post on Trade Management (Exit Strategy): Post#24,937

Always think of how to mitigate and reduce your trade risks and let the market decide on your final TP.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #53,876
  • Feb 23, 2015 6:26am Feb 23, 2015 6:26am
Quoting WDays
GU +25 (initially 30, was afraid it would bounce off the pivot, how wrong was I..), entered after a break of a trendline+TDI cross on m15. EJ, entered at the open of the 3rd H4 candle, TDI had crossed on H1 and H4 12 gmt +3 (my time) went to +30 so I locked b/e hope to see a 100 pip TP but I'll be happy with a 50 either way, it's only monday. edit: readjusted TP on EJ to 50 pips, going to be a long way down it seems. {image} {image}
Hi, WD
Looks you have updated your template. Don't you use MTF TDI anymore? If you don't, may i ask the reason? Just curious... By the way, i got the similar GU sell with 20 pips at 5m chart (no TMS).
Thanks.
Simplicity is the ultimate sophistication - Leonardo da Vinci
  • #53,877
  • Feb 23, 2015 6:35am Feb 23, 2015 6:35am
Quoting heispark
{quote} Hi, WD Looks you have updated your template. Don't you use MTF TDI anymore? If you don't, may i ask the reason? Just curious... By the way, i got the similar GU sell with 20 pips at 5m chart (no TMS). Thanks.
Like I said afew posts back, I use my regular template when trading H1, during london with a few of the more "exotic" pairs like EA, EJ and GJ. I use the m15 setup you see to trade majors (EU, GU, AU, UJ) because they give me better entries. I mostly trade those in the afternoon (err NY sesh), but today I liked the way GU was setting up. I do this because I've found that I can't reach my target just taking those previously-mentioned setups, so I add to my pipcount via m15 15-30 pip "scalps".

On a sidenote, I closed my EJ trade for 10 pips as the setup got spoiled by a pullback candle, I freaking hate when that happens, I was up 33 pips with an H4 setup. Not even worth posting the closed trade.
  • #53,878
  • Feb 23, 2015 6:52am Feb 23, 2015 6:52am
Quoting WDays
{quote} Like I said afew posts back, I use my regular template when trading H1, during london with a few of the more "exotic" pairs like EA, EJ and GJ. I use the m15 setup you see to trade majors (EU, GU, AU, UJ) because they give me better entries. I mostly trade those in the afternoon (err NY sesh), but today I liked the way GU was setting up. I do this because I've found that I can't reach my target just taking those previously-mentioned setups, so I add to my pipcount via m15 15-30 pip "scalps". On a sidenote, I closed my EJ trade for 10 pips...
Oh, i see. You use MTF TDI only at 1H trading. Thank you for your reply.
Have nice pips!
Simplicity is the ultimate sophistication - Leonardo da Vinci
  • #53,879
  • Edited 8:23am Feb 23, 2015 7:48am | Edited 8:23am
GU, M15 , counter trend scalp +11.3 (5 lots) PA bounce from half number level 1.53500 and recent support all green with TDI's headed up....confirmed by H1 bounce from support and candle wick as well (H1 keeping it simple chart, all we need is PASR) . Think there is more room up in this trade but had to leave......
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Keep It Simple
  • #53,880
  • Feb 23, 2015 8:13am Feb 23, 2015 8:13am
Quoting BallijnForex
Hi guys, Haven't traded anymore last week. Needed to get back to the basics and read my trade plan again and again. Spent a lot of time reading and learning this weekend. Here is my trade I made this morning just 30 sec before FO bar close and LO open. I think this is a genuine TMS trade with a valid set up, am I correct? Hope to get soms feedback although it is a winning trade. Regards, Wes. {image}
Good morning everyone,
(N/Y session)

BallijnForex,

When I look at my charts a couple of hours later
I think you made the perfect trade.
sj
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EURUSDH1.png Size: 55 KB
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