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Trading Made Simple the right way, and other trading lessons 334 replies

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Trading Made Simple

  • #54,561
  • Mar 5, 2015 11:23pm Mar 5, 2015 11:23pm
Quoting Erebus
{quote} I've had similar thoughts, mainly that the DOTS acts more like a Pivot indicator based only on previous days' price action which might explain the narrow range it sometime displays? Even went so far as to get CJA to program the Daily Open Line indicator to display optional lines at user adjustable percentage away from the daily open - the picture will explain much easier. Basically, a possible entry line and projected target - I don't like the DOTS using 2 targets, it's too easy to claim success even it only hits the first; I'm an all or...
Erebus,

Long story but my computer went down today & I just got it fixed, yea.

Thank you for the Daily Open Line indicator! I will test it out but so far it looks good.

Thanks,
sj
  • #54,562
  • Mar 5, 2015 11:37pm Mar 5, 2015 11:37pm
Quoting haydo147
Hi everyone, I have a question for pac users. Lets say were looking for a short opportunity and all the signals are there (stoch, tdi etc) When we see price close beyond the pac is that our entry? Even if price starts to pull back slightly on the next candle do we trust the signals? Trust the break of the pac? Ive made some good trades and feel quite comfortable analyzing a pairs direction for the longer teem and am fine with picking entry points i think my biggest issue is my own mind. I miss some great opportunities because i see a slight pullback...
Haydo,

In my trading the entry's are good. The pac works good, trust it!
The problem is maximizing the exits, that is where I struggle.
I'm checking out Erebus new Daily Open indicator with levels. I
have high hopes for it...

If price starts to pull back a little, don't panic & use a set & forget
strategy. Set your stop just above/below the pac (give price some
room to breathe). My usual trading style is...set your price target, set
your stop & let price do it's thing. It either hit your price target or it hit's
your stop. You need to let the %'s work out & let your edge play out.

If everything looks good, tdi, levels, trend, higher time frame, momentum, etc.
I'll jump into a trade early...but you must remember that it is higher risk jumping
in early. Practice both ways & get a good feel for the whole process...and see
which way is better for you.
sj
  • #54,563
  • Mar 5, 2015 11:49pm Mar 5, 2015 11:49pm
Quoting H0rus
{quote} That's your call. In my newbie opinion, if you want to trade price action better take the pullback opportunities, however beware with big spikes counter pullbacks. Has SJ use to say "that's no man's land". But that's also the essence of price action traders. I guess you must judge well. No hesitations nor itchy fingers. Regards
Horus,

I'm basically a price action trader that really like's the Tms system.
Their are time's (a pin bar for example) that the tdi & pac will be in
the wrong location for a Tms entry. But for a price action entry they are
excellent. But this is more advanced trading...but the entry is their.

Emmanuel, Phx62, Erebus, myself, plus a lot of other traders definately
look at the price action & the shape of the bars (pin bars, inside candles,
mother candles, etc) price action trading is a learned skill... It all
takes time to learn, don't rush the process, take your time & learn it all correctly.
sj
  • #54,564
  • Mar 6, 2015 12:11am Mar 6, 2015 12:11am
Good evening!

Are there any tech saavy traders out there who might know why my synergy_pro asr and synergy_pro mtf appear this way? I tried loading the ones SnarlyJack posted on 50,214 but these appear as is here. I also am not able to load my clock ADR indi.

The indis I have loaded are in the upper left corner of this screen shot.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 244 KB
  • #54,565
  • Mar 6, 2015 12:47am Mar 6, 2015 12:47am
Quoting rupasi
Good evening! Are there any tech saavy traders out there who might know why my synergy_pro asr and synergy_pro mtf appear this way? I tried loading the ones SnarlyJack posted on 50,214 but these appear as is here. I also am not able to load my clock ADR indi. The indis I have loaded are in the upper left corner of this screen shot. {image}

Rupasi,

I think that special character '§' came from your computer' character set.
Normally, if the programmer had used the Wingdings code in mql4, then that should appear using the code 158, see below mql4 code table.

Attached Image (click to enlarge)
Click to Enlarge Name: MT4 MQL4 Wingdings code.png Size: 68 KB


sorry I can't fix that for you.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #54,566
  • Mar 6, 2015 12:52am Mar 6, 2015 12:52am
Quoting Erebus
{quote} I've had similar thoughts, mainly that the DOTS acts more like a Pivot indicator based only on previous days' price action which might explain the narrow range it sometime displays? Even went so far as to get CJA to program the Daily Open Line indicator to display optional lines at user adjustable percentage away from the daily open - the picture will explain much easier. Basically, a possible entry line and projected target - I don't like the DOTS using 2 targets, it's too easy to claim success even it only hits the first; I'm an all or...

Hi Erebus,

Thanks for the on-chart explanation and the indicator. Good stuff.

I tried to make one of my own, same idea but I was doing it the same way the !SM_ADR Marker.
Going forward, I will use this one you shared here.

Thank you and it is good to see you in this thread.

kind regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #54,567
  • Mar 6, 2015 12:54am Mar 6, 2015 12:54am
Quoting Erebus
{quote} There will be trades and days like that - see the ? ? ? ? day on the chart As long as you use proper Position Size and Money Management, trust the method, not much else you can do {image}

Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #54,568
  • Mar 6, 2015 1:00am Mar 6, 2015 1:00am
Quoting iCarumba
{quote} Hi Emmanuel I am wandering why would you take this trade. The daily TDI is strong bearish and even the 4hr TDI is going south? I am asking if it's okay to trade counter trend since I have missed so many profitable trades with this system just because I didn't have courage to enter counter trend.

Hi iCarumba,

You should know that I trade different timeframes using TMS. I can have open trades on D1 chart and when I trade H1 Intraday, I can be trading the counter trend setups and against the Daily bias. I have different trading accounts for D1 trades and for H1 trades.
When I take any counter trend trades, I will reduce my risk percent. Normally, I would risk 1% to 2% per trade, in case of counter trend trades, I simply reduce to 1% risk. It is not a big deal to lose some H1 trades, because the overall Win rate and Expectancy is more important.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #54,569
  • Mar 6, 2015 2:49am Mar 6, 2015 2:49am
EURUSD had been trading within a range for the whole month of Feb. It should be interesting next week and the rest of this month Mar to see where it will go to.

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD D1 chart 6 Feb POMO.png Size: 60 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #54,570
  • Mar 6, 2015 3:07am Mar 6, 2015 3:07am
EURAUD-M30
Attached Image (click to enlarge)
Click to Enlarge Name: 2015-03-06_15-01-49EURAUD.png Size: 33 KB
Sad i'm not trying to understand PA
  • #54,571
  • Mar 6, 2015 4:05am Mar 6, 2015 4:05am
Quoting omonisha
EURAUD-M30 {image}
Just amazing how you take these trades and manage them, great
I Have Learned to Take Some Losses to Make Profits
  • #54,572
  • Mar 6, 2015 4:32am Mar 6, 2015 4:32am
Today is Friday but I see some very good potential trade.

I timely took one GJ trade... because I'm in the meeting all day at company
Attached Image (click to enlarge)
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  • #54,573
  • Mar 6, 2015 4:36am Mar 6, 2015 4:36am
Quoting Pervis
Today is Friday but I see some very good potential trade. I timely took one GJ trade... because I'm in the meeting all day at company {image}
Nice timing Pervis
Sad i'm not trying to understand PA
  • #54,574
  • Mar 6, 2015 4:46am Mar 6, 2015 4:46am
Quoting TheScorpS
{quote} Just amazing how you take these trades and manage them, great
Many thanks for your continuous support TS ...GBPAUD-H4
Attached Image (click to enlarge)
Click to Enlarge Name: 2015-03-06_16-43-00GA.png Size: 34 KB
Sad i'm not trying to understand PA
  • #54,575
  • Mar 6, 2015 4:49am Mar 6, 2015 4:49am
TSS & Omonisha I love seeing your trades.

My GA. Didn't want to trade into the weekly low it looked a little congested there so got in little late but TP1 & TP2 hit.
Attached Image (click to enlarge)
Click to Enlarge Name: GA.PNG Size: 47 KB
Intelligence is the ability to adapt to change. Stephen Hawking
  • #54,576
  • Mar 6, 2015 4:51am Mar 6, 2015 4:51am
Quoting nods80
TSS & Omonisha I love seeing your trades. My GA. Got in little late but TP1 & TP2 hit. {image}
Very well done nods congrats
Sad i'm not trying to understand PA
  • #54,577
  • Mar 6, 2015 5:05am Mar 6, 2015 5:05am
Quoting emmanuel7788
EURUSD had been trading within a range for the whole month of Feb. It should be interesting next week and the rest of this month Mar to see where it will go to. {image}
Hi Emm this pair scares me at the moment, if it breaks the 1.00 i think it will become very volatile.

And thanks for the feed back on yesterdays trade.
Intelligence is the ability to adapt to change. Stephen Hawking
  • #54,578
  • Mar 6, 2015 5:06am Mar 6, 2015 5:06am
Quoting omonisha
{quote} Very well done nods congrats
Thanks for the support Omonisha.
Intelligence is the ability to adapt to change. Stephen Hawking
  • #54,579
  • Mar 6, 2015 5:35am Mar 6, 2015 5:35am
Quoting Pervis
Today is Friday but I see some very good potential trade. I timely took one GJ trade... because I'm in the meeting all day at company
It's not just any old Friday you know?

Attached Image (click to enlarge)
Click to Enlarge Name: NFP.png Size: 150 KB
It takes a lot for me to IGNORE you, but you can try.
  • #54,580
  • Mar 6, 2015 5:38am Mar 6, 2015 5:38am
Quoting emmanuel7788
{quote} How do you use ATR for 4H? Do you actually use ADR or ATR on the trading chart TF?
ATR 7 . Read stuff about ADR and 1h so ! thought ATRs inclusion of weekends may give distortion. So I checked for ADR and 1hr TMS trading. Need all the help I can get.
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