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Trading Made Simple

  • #55,281
  • Mar 26, 2015 10:28am Mar 26, 2015 10:28am
Quoting mordin
{quote} I don't consider it a strategy, rather is like an easy way for me to enter (or add position) on trend continuations, or enter in the same direction of the HTF. I entered on the pullback to obtain a better price. I'm not 100% convinced, but I always miss the breakouts for continuations, so this is a way to anticipate. Would it be better to just switch to the HTF and then switch back to my TF? apart from entries on consolidations which are so-so, I use it to filter bad trades. Thanks
If you want to catch trend continuations, maybe you should go to lower TF? If you do this, you could see that today was no long signal around FO and LO on EUR/NZD on all timeframes, even on M5. All signalized to go short...
  • #55,282
  • Mar 26, 2015 10:34am Mar 26, 2015 10:34am
Quoting mordin
{quote} Don't worry, although I'm very insecure with my skills, and I can doubt about methods anytime lol. It works most times, but I don't always take the trade because of fear, so not 100% sure. When it fails, the loss tends to be huge.
Ok...now that explains a lot more, and in that case, from a constructive criticism point of view, you ought to look at tuning your entries, targets and s/l especially, because from what you have said, you get enough winning opportunities and yet you still lose, which strongly suggests you need to control your money management more, ie realistic stops in particular to reflect the t/f your trading against.
  • #55,283
  • Mar 26, 2015 10:39am Mar 26, 2015 10:39am
Quoting toledoFX
{quote} If you want to catch trend continuations, maybe you should go to lower TF? If you do this, you could see that today was no long signal around LO on EUR/NZD on all timeframes, even on M5. All signalized to go short...
I can't go lower due to time restrictions. I trade H4, and when I check the H4 candles I go down to H1 to see if there's a signal and continue it on H4. That's why I miss most breakouts and such things.

Besides that, I don't think I have the experience to trade lower TFs.

Thank you for your comments.
Had to be me. Someone else might have gotten it wrong.
  • #55,284
  • Mar 26, 2015 12:42pm Mar 26, 2015 12:42pm
EURNZD
Attached Image (click to enlarge)
Click to Enlarge Name: EURNZD amalysis.png Size: 113 KB
Sad i'm not trying to understand PA
  • #55,285
  • Mar 26, 2015 1:00pm Mar 26, 2015 1:00pm
Quoting mordin
{quote} Don't worry, although I'm very insecure with my skills, and I can doubt about methods anytime lol. It works most times, but I don't always take the trade because of fear, so not 100% sure. When it fails, the loss tends to be huge.
Mordin,

I really think your in the right place to learn how to enhance some of those issues you are talking about. Hang out in this form and you will get to see a lot of entries/exits and overall framework in how TMS can help someone trade FX and other CFD markets properly.

If your lacking confidence, it's time to get on demo for a couple of months and trade it like its your real hard earned money, while your doing this, save money and grow your live FX account.

It is said a lot on FX fourms, but you need to treat this as a business, lets come up with a trading plan, here's an example of a very simplistic one..

1. My life allows me to trade 4h chart, I will focus on this TF exclusively.
2. I will focus on 1 FX Pair until I am profitable for 3-6 months.
3. I will never risk more than 1% of my account per trade
4. I will set my stop loss at the most recent low/high and accept when it is hit
5. My TP will based on Support & Resistance
6. I will only trade during the Euro Session to first three hours of US session
6. I will post both winning and losing trades on TMS forum and accept constructive criticism.

Like I said in a post yesterday, read study and repeat the pdfs of Emmannuel,Phx62,SnarleyJack,BigE tons of good posters...

4hr TF, even if you only find 1 A+++ set-up a week your going to grow an account like a boss, less is more.

Gl.
  • #55,286
  • Mar 26, 2015 1:23pm Mar 26, 2015 1:23pm
Would just like to say a massive thankyou for sharing this strategy

Its has helped turn my account into a profitable one, been using it for a few weeks now and im averaging 1% profit each day.
Before this method i was only hitting a 50/50 win/loss this has changed it for the better.

im only using 3 charts at the moment until i get more confident but i do feel this has added a great advantage to my trading so again thank you very much


mat
  • #55,287
  • Mar 26, 2015 3:07pm Mar 26, 2015 3:07pm
Quoting TheScorpS
GU got me on surprise, trading off mobile and couldn't manage to take the full potential , so closed for +40 pips {image}
HI TSS,

This is a basic MT4 question but are the times indicated on the bottom of your platform based on GMT? If I read it correctly, LO is at 8:00 your time. Or is that based on your broker? For me, LO is 10:00. It is a simple thing but somehow I have a hard time getting my head around it...

I am in the States, PST for LO is midnight for me. FO is 11pm. I am looking for a consistent indication of when LO high or low is set. You once said it was generally within the first 3 hours of trading. Thanks! Sure like your style!
  • #55,288
  • Mar 26, 2015 3:25pm Mar 26, 2015 3:25pm
I dont know if this is the right place for this question but here goes.

I there a way i could get data on open- highs - lows - close on a currency pair like EUR/USD etc.
historic date of price action

Cheers
  • #55,289
  • Mar 26, 2015 6:02pm Mar 26, 2015 6:02pm
Quoting mordin
{quote} I just trade what the market tell me... There was consolidation on the 4H, but on D1 was trending, so I entered to follow the trend. If I were in a trade at that point, it would be when I add a position. Yesterday got stopped out because I had small SL, today I put a bigger SL, but with reduced position size... no success.
Quoting mordin
{quote} Thanks, don't worry, it's all my fault. I post now E/N, and if I don't forget later I could post the others. {image} I've used this entry other times, and it worked. On the current timeframe is like a flag. Upmove - consolidation - upmove. I expected an upmove because the higher time frame was trending up. Thanks
http://www.forexfactory.com/attachme...1&d=1427378710

Hi,

about your EURNZD trade:
- there was no consolidation seen in H4, What is consolidation? How do we look for consolidation? What do we use?
- D1 is sideways in a range since last week, not trending. 1 or 2 bullish D1 candle does not mean the trend is UP. Zoom out on your chart to see the bigger picture.

when we want to enter the market based on H4 chart candles, then the H4 chart timeframe is our entry Timing Chart.
Our Setup Chart is the Day chart,
and our Trend Chart is the Weekly chart.

we need to study and understand why eelfranz said that the the price swings will usually run 3 to 8 candles in H4 in this thread. He did not say anything specifically about multi timeframe approach, but he did check higher timeframe charts in his trading tasks. He also had Japanese candlestick charts open along with his charts with just one TDI in sub-window and the APB.

All this use of additional indicators like supply & demand indicators on your price chart only add more clutter on your charts and only block your view of the bigger picture of the real price action. TMS 5-Method is a trend trading method and not a supply and demand trading system. The MTF TDI is unnecessary because all that you need to see is the Price Action on your 3 charts H4, D1 and W1. The Triple Screen System works in all trading platform and you do not need to rely on MT4 custom indicators. You need to study and master the basics of TMS 5-Method first.

There are a lot of other things we need to know and learn about trading the market. Learning these other things will take time but you first need to know what these other things are. At some point in time, we need to sit down and take stock of the knowledge and skills we have for this trading business. There are ten things we as TMS traders must have the skills to see them on our charts. Do you have those skills developed yet?

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #55,290
  • Mar 26, 2015 6:21pm Mar 26, 2015 6:21pm
EURJPY

zoom out to see the bigger picture....

Attached Image (click to enlarge)
Click to Enlarge Name: EURJPY week 13 H1 chart 27 Mar.png Size: 69 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #55,291
  • Mar 26, 2015 6:27pm Mar 26, 2015 6:27pm
Quoting emmanuel7788
...when we want to enter the market based on H4 chart candles, then the H4 chart timeframe is our entry Timing Chart. Our Setup Chart is the Day chart, and our Trend Chart is the Weekly chart....
Hi emmanuel, can I ask about the Setup chart? what does it mean? I thought D1 was the trending when trading H4 charts

this (timing/setup/trend) is same for H1 and M30 trades?

Thanks so much for all this knowledge
  • #55,292
  • Mar 26, 2015 6:44pm Mar 26, 2015 6:44pm
hi,

The Setup Chart is the chart which your use and look for the TMS 5-Method setup candle - APB#1 candle with the TDI cross or 12-2 or 4-6 angle or a TDI bounce. If you are an aggressive trader, then the reversal setup candle is one which closes above or below the 5EMA shift+3.

It is preferred to use 3 timeframes in a minimum ratio of 1:4

H1 > H4 > D1

H4 > D1 > W1

look at EURJPY now GMT 2345, do we have a D1 setup candle?
if we jump in now at market open, where do we want to place our initial SL? last swing high...200pips away?

Attached Image (click to enlarge)
Click to Enlarge Name: EURJPY week 1 27 Mar D chart.png Size: 38 KB



regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #55,293
  • Mar 26, 2015 7:54pm Mar 26, 2015 7:54pm
Quoting emmanuel7788
hi, The Setup Chart is the chart which your use and look for the TMS 5-Method setup candle - APB#1 candle with the TDI cross or 12-2 or 4-6 angle or a TDI bounce. If you are an aggressive trader, then the reversal setup candle is one which closes above or below the 5EMA shift+3. It is preferred to use 3 timeframes in a minimum ratio of 1:4 H1 > H4 > D1 H4 > D1 > W1 look at EURJPY now GMT 2345, do we have a D1 setup candle? if we jump in now at market open, where do we want to place our initial SL? last swing high...200pips away? {image} regards,...
I noticed that my Master Candles are different from yours, any suggestions? There are more candles marked as MC
Attached Image (click to enlarge)
Click to Enlarge Name: 01.png Size: 8 KB

Attached Image (click to enlarge)
Click to Enlarge Name: 02.png Size: 14 KB
  • #55,294
  • Mar 26, 2015 8:05pm Mar 26, 2015 8:05pm
Quoting emmanuel7788
hi, The Setup Chart is the chart which your use and look for the TMS 5-Method setup candle - APB#1 candle with the TDI cross or 12-2 or 4-6 angle or a TDI bounce. If you are an aggressive trader, then the reversal setup candle is one which closes above or below the 5EMA shift+3. It is preferred to use 3 timeframes in a minimum ratio of 1:4 H1 > H4 > D1 H4 > D1 > W1 look at EURJPY now GMT 2345, do we have a D1 setup candle? if we jump in now at market open, where do we want to place our initial SL? last swing high...200pips away? {image} regards,...
Hi emmanuel,

i think it's much safer to wait for a retrace on a lower TF and reconfirmation before getting in. But if we really need to jump in at market open; i would say around 120 pips SL, close to 61.8 fib retrace. even though usually a safe SL would be on on top of the candle before (daily in this case would be @131.50) i think if the price retrace more than 100 pips, it has already invalidate a short term bearish move.

So really, if i need to make a choice, i will wait and observe lower TF before making my decision. not to mention, the price is really close to the start of the week price.

Regards,

Greenb
Daniel
  • #55,295
  • Mar 26, 2015 11:23pm Mar 26, 2015 11:23pm
Quoting rupasi
{quote} HI TSS, This is a basic MT4 question but are the times indicated on the bottom of your platform based on GMT? If I read it correctly, LO is at 8:00 your time. Or is that based on your broker? For me, LO is 10:00. It is a simple thing but somehow I have a hard time getting my head around it... I am in the States, PST for LO is midnight for me. FO is 11pm. I am looking for a consistent indication of when LO high or low is set. You once said it was generally within the first 3 hours of trading. Thanks! Sure like your style!
its the broaker time that we use to determined when LO opens, the broaker I use is +3 GMT so London opens at 11:AM and my loacl timings is GMT+3 as well so LO just opens at my local timings at 11: a.m.

FO opens 1 hour before LO opens not after that , so you need first to determined exactly ur timings regarding FO and LO opens, I can help u in that , pm if you like, then second thing is to back test and learn on what conditions LO tends to set the high and low of the day, u can start from yesterday moves on GU , EU , EJ, GJ , EA as an example
I Have Learned to Take Some Losses to Make Profits
  • #55,296
  • Mar 27, 2015 12:12am Mar 27, 2015 12:12am
Quoting TheScorpS
{quote} its the broaker time that we use to determined when LO opens, the broaker I use is +3 GMT so London opens at 11:AM and my loacl timings is GMT+3 as well so LO just opens at my local timings at 11: a.m. FO opens 1 hour before LO opens not after that , so you need first to determined exactly ur timings regarding FO and LO opens, I can help u in that , pm if you like, then second thing is to back test and learn on what conditions LO tends to set the high and low of the day, u can start from yesterday moves on GU , EU , EJ, GJ , EA as an example...
Thanks for that. BigE and I were neighbors of sorts, he lived just down the coast from me in the same time zone so LO is a bit more challenging with the day job. I am following the 10pm, 2am and 6am plan the BigE did.
  • #55,297
  • Mar 27, 2015 12:19am Mar 27, 2015 12:19am
Quoting mokuro89
{quote} I noticed that my Master Candles are different from yours, any suggestions? There are more candles marked as MC {image} {image}
The Master Candle range must be the high - low of that candle, therefore you must include upper and lower wicks... IgnoreWicks parameter must be set to 'false'.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #55,298
  • Mar 27, 2015 2:53am Mar 27, 2015 2:53am
Does anyone take the EU OR GU short already? I wait for the LO candle .
  • #55,299
  • Mar 27, 2015 2:57am Mar 27, 2015 2:57am
Quoting emmanuel7788
{quote} The Master Candle range must be the high - low of that candle, therefore you must include upper and lower wicks... IgnoreWicks parameter must be set to 'false'.
Hello Emmanuel, how many candles min/max after an M-Candle is acceptable?
f.ex. fourth or fifth candle ...
Regards
  • #55,300
  • Mar 27, 2015 3:14am Mar 27, 2015 3:14am
Quoting bigcakex
Does anyone take the EU OR GU short already? I wait for the LO candle .
I took an E/u yesterday at the break of 1,10 downward, and again today at the break of yesterday's low.
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