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Trading Made Simple

  • #54,201
  • Feb 28, 2015 2:47am Feb 28, 2015 2:47am
Quoting heispark
{quote} I am also getting more and more skeptical about TDI. When i watch price movement, I can roughly guess how TDI would shape. Sharp angle is nothing more than a fast price movement. Specifically, MBL is useless to me. IMHO, Knowing where S/R and S/D located is the most important. When we know this, any other brakeout or momentum based systems would work, not only TMS.

You have now opened your third eye for trading with price action.... keep developing your third eye and you will go very far in trading the market.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #54,202
  • Feb 28, 2015 2:57am Feb 28, 2015 2:57am
Quoting heispark
Is there anyone still use Scott Barkley's 4H heart-line method? It was a popular topic in this thread exactly a year ago.... Just popped up in my mind.

Hi,

yes, I recall that and watch a few of his youtube videos. To me he has his own approach to view the market and develop his own methodology how he wants to trade.
I compare his method with other method using Andrew's Pitchfork and did not find that useful to complement the way we trade with TMS using the TDI.
So I abandon the technical channel trading.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #54,203
  • Feb 28, 2015 3:03am Feb 28, 2015 3:03am
Quoting snarlyjack
Ballistical, One of the things I did that really helped me was to "frame" the market. It helped me when I put in s/r lines & the daily open lines. Compare your chart to my chart... I hope I helped you! sj {image}
Snarlyjack,

What is the relevance of your S&D boxes via the TMS style? Do you use them in your decision process to add weight to a TMS entry decision? To me they look like a case of "here's the top here's the bottom" indicator, but maybe being a bit earlier in showing up than the usual S&R.
Best regards, Zef
  • #54,204
  • Feb 28, 2015 3:37am Feb 28, 2015 3:37am
Quoting cigarguy
{quote} sj, Although the TDI is essential within the TMS method, as you know it is just a visual of the past and current PA and in reality PASR can be traded with a simple chart utilizing APB's or HA's and support and resistance levels only, ie; key levels and 200 EMA. I personally like the Guppys and have traded them for a long time. Basically, when the MA's get tight and PA is in the middle no trade and when they are tight together a decent or big move is to be expected and PASR will show the entry, targets and exits. The below EU chart; as shown...
@cigarguy and @heispark, Appreciate your feedback and comments on TMS.

If I may, I would like to say that as more and more new members are joining this wonderful TMS thread. We all must guide them towards the proper use of TDI with very simple template. The very 1st thing they have to do is focus on 20 - 30 pips per trade and get the feel and confidence in the system rather than hunting for huge pips...

Many TMS experienced members are consistent in achieving 50+ on every trade its because they know what to look for before taking a trade, their charts are less cluttered with indicators and they can read the PA and comply it with TDI far more early than less experienced members (just like myself).

I meant no disrespect in my reply, just wanted to show new members how everything in TDI plays its role. When you have backtested and forward tested this system for quite some time you can easily drop the lines you don't want in TDI as Big E (the owner of this thread) did.

Pair without MBL and VB in TDI

Attached Image (click to enlarge)
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Pair with MBL and VB in TDI

Attached Image (click to enlarge)
Click to Enlarge Name: GJ with MBL and VB explained.png Size: 297 KB


I may have picked the wrong pair for LO session as this pair moves very well in NY session too.

Kindest Regards
  • #54,205
  • Feb 28, 2015 4:17am Feb 28, 2015 4:17am
Quoting MrAussieFX
{quote} @cigarguy and @heispark, Appreciate your feedback and comments on TMS. If I may, I would like to say that as more and more new members are joining this wonderful TMS thread. We all must guide them towards the proper use of TDI with very simple template. The very 1st thing they have to do is focus on 20 - 30 pips per trade and get the feel and confidence in the system rather than hunting for huge pips... Many TMS experienced members are consistent in achieving 50+ on every trade its because they know what to look for before taking a trade,...
Excellent post!!
Keep it up!!
Don't limit yourself!!
  • #54,206
  • Feb 28, 2015 5:04am Feb 28, 2015 5:04am
Quoting TheScorpS
For the first time in 6 months, GU monthly candle is bullish {image}
Here are my 2 cents. I do see the bullish MN candle, but i do see the end of a correction on the daily chart.
Correct me if i'm wrong.

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  • #54,207
  • Feb 28, 2015 5:06am Feb 28, 2015 5:06am
Quoting Sesamstrasse
{quote} The 50 Ema is one of the 3 MAs in another system , what I trade since summer 2013 live. I never open a trade against the 50 , when its not enough " space" to reach my TP. And I can use it as a retrace in a trend , so if the price touches my 50 and goes back to the trend , i just look for a valid TMS entry ( green crosses red , steep angle + first or second candle colour change ) .. and have a good , solid entry in TMS with the confirmation of the 50 Ema . I learned how to trade it for 18 months , its not only quickjly explained.. it is training...
I cant believe it you,ve perfected the system I was trying to develop. I got the 50 ema from Strats PASR. over the months I,ve been trying it out on several time frames and decided it would be great for scalping. I already developed a template I called the TMS Scalper, and I wanted to set up a my own thread to discuss it and perfect it. The only thing I hadnt figured out was exits. Which should I use S/R? Change of APB colour? Cross of 50ema line? Cross of PAC? ATR? But it seems you've helped me out with that as well. 5pips win or lose. Never liked the arbitrary fixed TP/SL because I feel except fot historical data, theres no rationale why it should keep on working, But since its working for you Im on it In fact I can tell you that from the little I've seen it already looks very good. Hope I can keep working with you on this Thanks.
Regards
  • #54,208
  • Edited 6:23am Feb 28, 2015 5:07am | Edited 6:23am
Quoting emmanuel7788
{quote} I do not understand your pt 2 above. how will reducing TP to 25 pips and trail your stop change the results of those H1 trades?
If you look at ballistical's trades before, he uses 50 for tp and 25 for stop. most of his trades goes about 20 or 25 pips and then reverse then fail, Why? because he waits to catch 50 pips! so it is a mental trick for those trader like him. he first catches his 20/25 green pips then trail the stops. if it reverse, nothing is loosed for him !

OK?
  • #54,209
  • Feb 28, 2015 5:21am Feb 28, 2015 5:21am
Quoting MrAussieFX
{quote} @cigarguy and @heispark, Appreciate your feedback and comments on TMS. If I may, I would like to say that as more and more new members are joining this wonderful TMS thread. We all must guide them towards the proper use of TDI with very simple template. The very 1st thing they have to do is focus on 20 - 30 pips per trade and get the feel and confidence in the system rather than hunting for huge pips... Many TMS experienced members are consistent in achieving 50+ on every trade its because they know what...
MrAussieFX;
Excellent point !! This is what every newbie must pay attention.

Thank you
Regards
  • #54,210
  • Feb 28, 2015 6:25am Feb 28, 2015 6:25am
Quoting farhad10
{quote} If you look at ballistical's trades before, he uses 50 for tp and 25 for stop. most of his trades goes about 20 or 25 pips and then reverse then fail, Why? because he waits to catch 50 pips! so it is a mental trick for those trader like him. he first catches his 20/25 green pips then trail the stops. if it reverse, nothing loosed for him ! OK?
His three loss trades (-25pips) did not move 20~25pips, those trades had no chance as market reverse immediately after his entry.

All his trades are based on RR 1:2 that is why he set Sl =25pips and TP=50pips. When market moves +20~25pips in his favour, he would have move his SL to BE.
The issue here is about the Exit Strategy and nothing to do with TP reducing to 25pips.

His three failed trades (-25pips) can be explained when we read Post#647 and use that post as our trading checklist every time we look at our trading charts.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #54,211
  • Feb 28, 2015 6:29am Feb 28, 2015 6:29am
Quoting emmanuel7788
{quote} His three loss trades (-25pips) did not move 20~25pips, those trades had no chance as market reverse immediately after his entry. All his trades are based on RR 1:2 that is why he set Sl =25pips and TP=50pips. When market moves +20~25pips in his favour, he would have move his SL to BE. The issue here is about the Exit Strategy and nothing to do with TP reducing to 25pips. His three failed trades (-25pips) can be explained when we read Post#647 and use that post as our trading checklist every time we look at our trading charts.
I did not say his latest Three losses trades ! Said most of his trades as depicted before! although do'nt want to discuss about his bad or good entry, many have told him about his entries before
It's obvious that when tp is 20/25, is more achievable than 50 ! you idea is set sl to BE and mine is trailing stop!
Also did not say that all of his entry were good, and that was just my suggestion for him !

If you look at my post, have two point. first point one and then point two
  • #54,212
  • Feb 28, 2015 6:35am Feb 28, 2015 6:35am
Quoting farhad10
{quote} I did not say his latest Three losses trades ! Said most of his trades as depicted before! It's obvious that when tp is 20/25, is more achievable than 50 ! you idea is set sl to BE and mine is trailing stop! Also did not say that all of his entry were good, many have told him about his entries before and that was just my suggestion for him !

I wrote very clearly "...all his trades are based on RR1:2 hence his SL is 25pips TP=50pips...".
The issue is the Exit Strategy.
You did not read ...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #54,213
  • Feb 28, 2015 6:42am Feb 28, 2015 6:42am
Quoting emmanuel7788
{quote} I wrote very clearly "...all his trades are based on RR1:2 hence his SL is 25pips TP=50pips...". The issue is the Exit Strategy. You did not read ...
emmanuel

The problem is his entries not exit strategy!! what are you talking about!?
Said That first look at HTF when to enter and then reduce your tp to 20 or 25 pips. It's as clear as possible.

that was just my suggestion.
  • #54,214
  • Feb 28, 2015 6:58am Feb 28, 2015 6:58am
Quoting farhad10
{quote} emmanuel The problem is his entries not exit strategy!! what are you talking about!? Said That first look at HTF when to enter and then reduce your tp to 20 or 25 pips. It's as clear as possible. that was just my suggestion.
I am saying the Exit Strategy. You cannot make the difference between trade entry and what Exit Strategy is about.
Reducing his TP to 25pips will not help because he trades with RR 1:2. I read all his posts and follow his weekly posts where he analyses his own trades.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #54,215
  • Feb 28, 2015 7:04am Feb 28, 2015 7:04am
China cut rates ... how will the market react next week?
Trade with more caution.

Have a Good Weekend.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #54,216
  • Feb 28, 2015 7:05am Feb 28, 2015 7:05am
Quoting emmanuel7788
{quote} I am saying the Exit Strategy. You cannot make the difference between trade entry and what Exit Strategy is about. Reducing his TP to 25pips will not help because he trades with RR 1:2. I read all his posts and follow his weekly posts where he analyses his own trades.
Come onn !
I can not What??
  • #54,217
  • Feb 28, 2015 7:54am Feb 28, 2015 7:54am
posting some chart on my entry, cheers!

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  • #54,218
  • Feb 28, 2015 9:00am Feb 28, 2015 9:00am
Hello, I have not posted on here before, and not sure if the picture I have attached will be visible.. If it is then I would appreciate your comments, this is a 1 hour USD/JPY recent chart. I have spent quite a lot of time trying to get accurate indicators whilst still keeping to the KISS principle. I can add a Stochastic at 15 3 3, and a 4 EMA sometimes helps.
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYH1.png Size: 52 KB
  • #54,219
  • Feb 28, 2015 11:18am Feb 28, 2015 11:18am
Quoting snarlyjack
Ballistical, One of the things I did that really helped me was to "frame" the market. It helped me when I put in s/r lines & the daily open lines. Compare your chart to my chart... I hope I helped you! sj {image}
SJ, always welcome your feedback, thanks! I know the sup/dem indi and DOL indi have both been talked about a lot in here. Do you know the exact name of the files you use so that I can find them in the paperclip? Have you made any changes to either of the settings. I know you successfully use the sup/dem indicator on longer time frames like LW. I'm not sure I've seen anyone use it for intraday trading during London but I'd like to put it on my charts and take a look. The Daily Open Line, I think will be more applicable. I have heard most people talk about trading away from the DOL and the 200EMA. Is there anything else that its useful for? Do you use it in conjunction with ADR for setting targets at all? Thanks again for your help


Quoting farhad10
{quote} Dear Ballistical I've 2 suggestion for you 1. when you want to take a trade, First look at the cross and angle condition of higher Tf . 2. reduce your tp to 25 then you can trail your stop. surly you see better results next week. regards
Farhad, thanks for the feedback! I see from your recent posts, it looks like you are watching H1 and H4? I have found in the past that trying to monitor different timeframes confuses me more than it seems to help but I believe you are referring to simply watching the TDI on the higher TF? Do you use LW's MTF indi or simply have the higher TF open in a separate chart?

With regards to trailing the stop, I have backtested this, but have found that whilst occasionally trailing PA can give a really nice win, using a fixed TP tends to give me more consistent wins over time. When trading London on EA H1, many times price will move 60-70ish pips to start with, then either retrace and continue in the same direction or turn around completely. Hoping for better results next week Thanks again!


Quoting emmanuel7788
{quote} Ballistical, This is an excellent post where new traders can read and learn a lot from. There are a few good lessons in your post. If we only look at winning trades posted here, we don't get to learn some valuable lessons. You have followed your own trading rules and also have the discipline to trade according to your own rules. The results may not be attractive, but your scored highly in the DISCIPLINE department. I for you. Hindsight is 20:20 therefore it is too easy to make comments for each of your trade and find reasons why...
Emmanuel, as always, thanks for your feedback. I agree that we can almost learn more from sharing and analysing losses than wins, but as you say hindsight is 20:20. I tried trading H4 before but really struggled to make consistent pips. The difficulty I have with longer TF's, particularly around London was the effect of High Impact News. Trading H1 allows me to time my trades around news (although I didn't do that very well this week ). I know you are most experienced on longer TF's like H4. Do you simply ignore most High Impact News or avoid trading affected pairs during major releases? I agree that getting to my charts 2-3 hours prior to London could be beneficial in some cases. I think when there is a strong TMS setup at FO (like Thursday), more often than not, its best to enter here and not wait for LO. I noticed you were trading AUDUSD this week on H1 and had less focus on EURAUD H1. Was there a particular reason for this?
Focus on the process and the profits will follow
  • #54,220
  • Feb 28, 2015 11:41am Feb 28, 2015 11:41am
Quoting TheScorpS
EA H1 + 50 on the break of FO H1 bar, this looks to be a runner into NYO Also took EJ and closed with BE {image}
TSS, I didn't have time to question you on this on Thursday. What clues hinted to you that this trade would continue on downwards through NYO? It turns out that you were correct in this case. Was this through use of the channels which you mentioned in your recent post? I always struggle to know whether price will continue or reverse at NYO. Thanks for your help!
Focus on the process and the profits will follow
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