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Monitor for 'Trading Made Simple' system 565 replies

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

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Trading Made Simple

  • #55,181
  • Mar 24, 2015 5:25am Mar 24, 2015 5:25am
Quoting omonisha
GBPNZD-H4..After news trade. News came out negative but price shot up to daily open. went in just below daily open. {image}
Great trade as always, mate!
  • #55,182
  • Mar 24, 2015 5:28am Mar 24, 2015 5:28am
Quoting toledoFX
Took 2 trades today. GBP/AUD was nice, following the trend. EUR/AUD took after double bottom and PCRF. Was too greedy on EA, so finished it with BE after +30 pips. {image} {image}
Hi toledoFX.........can you advise what that 0.0 in green is on the right bottom of your chart please. Is it the profit PIP indicator? id so where do i find it.......many thanks in advance....
  • #55,183
  • Mar 24, 2015 5:31am Mar 24, 2015 5:31am
Quoting rtradern
{quote} Hi toledoFX.........can you advise what that 0.0 in green is on the right bottom of your chart please. Is it the profit PIP indicator? id so where do i find it.......many thanks in advance....
Yes, that's a "pipsometer_decimal" indicator, which shows how many pips you have in your open trade. You can find it here on the thread in the paperclip. Erebus explained about paperclip just 2 pages ago.
Look here for his post: http://www.forexfactory.com/showthre...68#post8158868
  • #55,184
  • Mar 24, 2015 5:40am Mar 24, 2015 5:40am
Quoting Trader MT4
Hello Emmanuel, please send information, which pairs you observe, and what is your system, how to observe many charts Dan
He already answered this question a few days ago, and linked to this post :

http://www.forexfactory.com/showthre...32#post7412432
  • #55,185
  • Mar 24, 2015 5:46am Mar 24, 2015 5:46am
Quoting toledoFX
{quote} Yes, that's a "pipsometer_decimal" indicator, which shows how many pips you have in your open trade. You can find it here on the thread in the paperclip. Erebus explained about paperclip just 2 pages ago. Look here for his post: http://www.forexfactory.com/showthre...68#post8158868
excellent! thankyou
  • #55,186
  • Mar 24, 2015 5:57am Mar 24, 2015 5:57am
Quoting toledoFX
{quote} Yes, that's a "pipsometer_decimal" indicator, which shows how many pips you have in your open trade. You can find it here on the thread in the paperclip. Erebus explained about paperclip just 2 pages ago. Look here for his post: http://www.forexfactory.com/showthre...68#post8158868
Just what ive been looking for over the last few days...perfect, adding to my chart setup. Thanks toledoFX
  • #55,187
  • Mar 24, 2015 6:33am Mar 24, 2015 6:33am
hi guys, in this moment divergence EURGBP tdi - heiken in short... i sell to 0.73390
  • #55,188
  • Mar 24, 2015 12:14pm Mar 24, 2015 12:14pm
For those who want to trade the LO and NY sessions but don't have time to look at the 1H charts, a fairly simple method that I've been using for a couple weeks now that is very profitable is to simply check the close of the London Open candle (or New York Open) and set alerts for either the high or low. Look at the Daily and take the trade once you are alerted that the price agrees by hitting the high (buy) or low (sell). This works 90% of the time, especially if you only trade Wednesday, Thursday, and Friday. You really only have to check the opening candles and then take the trade once the candle after it has verified that the trend will continue. Really only need to check charts once or twice on your laptop instead of every hour, maybe only once if you want to take the trade from your mobile device.

I know a lot of other members follow the same rules, only taking the trade once it has passed the high/low of the LO candle and in the direction of the daily. It seems like common sense but I used to get hung up on the LO candle and get faked out a lot. You really have to pay attention to the candle after the LO, as it determines if the trend usually continues.

Find a pair that is trending, set up the alerts for the high/low of LO and NYO and take the trade if it follows the daily. If you are unsure about whether or not a pair trending strong, then just find another pair.
  • #55,189
  • Mar 24, 2015 12:21pm Mar 24, 2015 12:21pm
Quoting emmanuel7788
{quote} Hi, I look at the price action using both the Price Bar and the APB candles. When the intraday retracement is shallow (between 23% and 38%), then the entry on the break of the Day Open and Prev day High/Low are usually good entries when we see there is price momentum. look at both EURJPY and EURUSD H1 charts now. Do you see the shallow retracements and how the price action move above the Day open when FO. I will post my trade charts later. Now very busy chatting with others. regards,
As promised, here is my trade EURUSD H1 done today.
Got stopped out during the NY session when data release.

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD H1 24 Mar trade LO.png Size: 55 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #55,190
  • Mar 24, 2015 12:35pm Mar 24, 2015 12:35pm
Quoting Trader MT4
Hello Emmanuel, please send information, which pairs you observe, and what is your system, how to observe many charts Dan
Quoting Tomyam
{quote} He already answered this question a few days ago, and linked to this post : http://www.forexfactory.com/showthre...32#post7412432

Thanks Tomyan for helping out with your reply post.

Besides using the TMS monitor to have an overview of those pairs I trade, it is important that we have done our top down analysis or big picture plan at the beginning of the trading week. With the big picture plan done, you will know exactly what to look for during the trading day be it for H1 intraday trade, 4H swing trade and also D1 position trading.
I simply have only one chart for each of the currency pair where I have all the my support and resistance line drawn and I use the timeframe visualization properties to see on the selected timeframes when I switch from H1 to H4 and D1, etc. using only one template saved.
This way, I don't have too much clutter details for example on H1.
Once this is done, I save the profile of all my charts and I switch the chart timeframe using a simple script.

Note: I trade live with non-MT4 brokers. I only use one MT4 broker for live data feed and some live trades.

using the Tile Window option is a simple way to have an overall views of all charts in one screen.

Attached Image (click to enlarge)
Click to Enlarge Name: Charts overview.png Size: 173 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #55,191
  • Mar 24, 2015 12:45pm Mar 24, 2015 12:45pm
Quoting Mashiro
do you guys wait for TDI to cross MBL line before opening a trade?
Mashiro,

That depends on the timeframe you want to trade.
If you are trading H1 and below, I recommend that you use the full TDI and choose the trading style which suits your personality.
You can trade H4 the way our late OP described in post#1 using only the TDI Green cross Red for entry without considering the Yellow MBL.
You need to consider the Price Action and Support and Resistance on your charts and not simply TDI crosses for entries.

Attached Image (click to enlarge)
Click to Enlarge Name: TDI trading style.png Size: 143 KB


regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #55,192
  • Mar 24, 2015 1:01pm Mar 24, 2015 1:01pm
I've tried 6 H4 trades in the past weeks, and getting down to H1/M30 to see what is happening in the lower TF, and I end up closing my trades because of news/retraces or whatever other reason.

If you open a trade because it shows a good open signal at H4, do you keep this trade looking ONLY at H4 and higher? I'm finding myself finding close-reasons on lower TF for higher TF trades, same apply for openning H1 and going down to look M30
  • #55,193
  • Mar 24, 2015 1:17pm Mar 24, 2015 1:17pm
Quoting emmanuel7788
{quote} {quote} Thanks Tomyan for helping out with your reply post. Besides using the TMS monitor to have an overview of those pairs I trade, it is important that we have done our top down analysis or big picture plan at the beginning of the trading week. With the big picture plan done, you will know exactly what to look for during the trading day be it for H1 intraday trade, 4H swing trade and also D1 position trading. I simply have only one chart for each of the currency pair where I have all the my support and resistance line drawn and I use...
Sorry, may i ask some questions, Do you still use PAC for trading? because I don't see it in your template. And would you kindly share little bit of your routine schedule on trading? Like when you turn on the computer starting a new day, what are the things you repeatedly do to form good habits and become a successful forex trader?
  • #55,194
  • Mar 24, 2015 1:35pm Mar 24, 2015 1:35pm
Hi guys, i know we're trying to keep things simple but if you want to increase the accuracy of TMS, use MTF stochastic, pretty much holy grail to me
  • #55,195
  • Mar 24, 2015 3:11pm Mar 24, 2015 3:11pm
Quoting mary4x
Has anyone heard from SnarlyJack? He hasn't posted here since March 8.
Yes, I was wondering also. Can anyone PM him? Hope he is okay.
  • #55,196
  • Mar 24, 2015 5:54pm Mar 24, 2015 5:54pm
Quoting rnsfrd
For those who want to trade the LO and NY sessions but don't have time to look at the 1H charts, a fairly simple method that I've been using for a couple weeks now that is very profitable is to simply check the close of the London Open candle (or New York Open) and set alerts for either the high or low. Look at the Daily and take the trade once you are alerted that the price agrees by hitting the high (buy) or low (sell). This works 90% of the time, especially if you only trade Wednesday, Thursday, and Friday. You really only have to check the opening...


Thanks for this tip.

Small clarification. you mention Look at "Daily" . You mean daily candle colour or daily trend .

Thanks
  • #55,197
  • Mar 24, 2015 6:30pm Mar 24, 2015 6:30pm
Hi all,

I'm completely newbie to this thread. I'm seeing that the system you are using is a bit different from Post 1. Could you kindly advise me where should I get the latest system or point me to where I should start please?

Thanks so much.
  • #55,198
  • Mar 24, 2015 7:15pm Mar 24, 2015 7:15pm
Quoting pmbaokhanh
Hi all, I'm completely newbie to this thread. I'm seeing that the system you are using is a bit different from Post 1. Could you kindly advise me where should I get the latest system or point me to where I should start please? Thanks so much.
You need to start here -

TMS for beginners : Post#52,707
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #55,199
  • Mar 24, 2015 7:40pm Mar 24, 2015 7:40pm
Quoting mousteven
{quote} Sorry, may i ask some questions, Do you still use PAC for trading? because I don't see it in your template. And would you kindly share little bit of your routine schedule on trading? Like when you turn on the computer starting a new day, what are the things you repeatedly do to form good habits and become a successful forex trader?

Hi,

I have the PAC on my template but I have the option to turn off/on when I want to. I recommend that all new traders use the PAC because the PAC will help filter out those TDI cross conditions which will fail to run into profit. Only when traders become proficient and confident to trade with Price Action at Support and Resistance then you can drop the PAC. Only use ther TDI, and do not introduce any other indicator in the sub-window which will only impede your development to become a price action trader. In most of my trade posts, I show how I took trades using price action without the PAC being shown.

My trading routine and habits has been developed and fine tuned over more than 20 years. I start every new month by updating my Big Picture Plan. Every weekend, after market closed, I review all my trades and make a new trade plan for the next week. I trade H1 Intraday, 4H Swing and Position trades on D1 charts. I define my business trading hours around when the market session opens - Sydney, Tokyo, Frankfurt-London. I seldom trade the US session but I will make it a point to check my charts once every 4-hours. When I missed any 4-hour cycle, it is not a big deal as I can check at any time I am available. When I trade H1, I use a trade manager EA to help me manage my trade exits. I follow a disciplined money management strategy and exit management strategy for all my trades. I will keep this brief here as there are a lot of things to consider when we want to make trading as a business to generate a supplement income.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #55,200
  • Mar 24, 2015 8:42pm Mar 24, 2015 8:42pm
Quoting shay14
Hi guys, i know we're trying to keep things simple but if you want to increase the accuracy of TMS, use MTF stochastic, pretty much holy grail to me

Nothing you add to the sub-window will 'increase the accuracy of TMS'. It is not about accuracy. Its is about high probability and consistency. The method is not more than 10% of a winning trading system. The other big part 30% is the Money Management strategy which you need to have in your winning system. The missing 60% is the most important and difficult part to develop.

TMS is the 5-Method and where is started was in the Craig Harris Stochastics Method thread.
5-Method and 21/233 Method Post#3018, it was move to here new TMS thread on 26 Aprl 2011 ... Post#4,432

Our late OP eelfranz traded the method for some years and eventually drop the Stochastics and focus on trading the price action and support and resistance.
using the Multi-TimeFrame MTF analysis as the approach will help in looking for higher probability trade setups. The MTF Stochastics will not help you in this approach.

If you want to improve and succeed over longer term, use the MTF approach with just one TDI in your sub-window.
The Triple Screen Trading concept of Dr Alexander Elder in his book title "Come into My trading Room" is one good example how the MTF approach can help you in developing TMS into your own winning system. Use the TDI in Triple Screen Trading system development instead. Keep the 5-Method as your core technical trading method.

Attached Image (click to enlarge)
Click to Enlarge Name: Alex_Elder Triple Screen Systems.png Size: 54 KB


Attached Image (click to enlarge)
Click to Enlarge Name: Come into my Trading Room - A Elder.png Size: 170 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
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