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Trading Made Simple

  • #56,301
  • Apr 27, 2015 9:09am Apr 27, 2015 9:09am
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  • #56,302
  • Apr 27, 2015 3:56pm Apr 27, 2015 3:56pm
I gave up trading alltogether for a few years until one day in February I stumbled upon this thread and decided to give it a go. The problem I had was that I was relying completely on some set of indicators without paying much attention to price, support/resistance levels, candle formations and inevitably failed.
I can see things more clearly now... at least I hope... the results for the last couple of months have been very good even if only on demo.
A big thank you to Emmanuel, Phx62, Xmen and all the other people who share their eperience and taught us this system, still a long way to go to get consistent enough but I think I am getting on the right track.
I thought I would share a few trades taken today following the 5 TMS rules:

GBP CAD

LO was an inverted hammer and price pulled back from the daily open, was going to look for a short now, TDI started moving down so I placed a stop order 5 pips below the low of FO. The Cave manager took exit at +30 and +50 then I closed the last lot at +50 after price started to bouce from the 200MA and TDI went flat.

GBP USD
Placed stop order below FO when everything was pointing to a short trade, closed at +11 after price failed to close below 50MA and started to pull back. After the pullback there was a nice blu candle which closed above the pac, also on 15 min chart price broke the 50MA and that gave me confidence to go long, considering also the fact the we were going to break out of the Daily Master candle which formed last month I thought we could see a big move. Cave Manager took +30 and +50, then I must have changed timeframe in the same window and I has taken out other lots, so I reopened the trades and eventually closed it +100.
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  • #56,303
  • Apr 27, 2015 5:55pm Apr 27, 2015 5:55pm
Nepal Earthquake Disaster - Please help the people.

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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #56,304
  • Apr 27, 2015 6:50pm Apr 27, 2015 6:50pm
Quoting mazingaz
I gave up trading alltogether for a few years until one day in February I stumbled upon this thread and decided to give it a go. The problem I had was that I was relying completely on some set of indicators without paying much attention to price, support/resistance levels, candle formations and inevitably failed. I can see things more clearly now... at least I hope... the results for the last couple of months have been very good even if only on demo. A big thank you to Emmanuel, Phx62, Xmen and all the other people who share their eperience and...
Hi mazingaz,

Both good trades. Your thought process is logical and nicely executed. Shows you have good understanding of the TMS 5-Method fundamental and also you have the discipline in waiting for the setups and pulling the trigger.

Note that when you run CaveManager to manage open trades, you must not change the chart timeframe. That will cause CM to make errors with the open trades.

Hope you do not mind that I made some comments on your two charts posted. See below.
I always pay attention to the trading ranges of the Sydney 3 hours trading and also the Tokyo first 5 hours trading. This is use as indication how the European session can trade.

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Good Trading and you are on the right track.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #56,305
  • Apr 27, 2015 8:52pm Apr 27, 2015 8:52pm
Quoting hsn100
{quote} Hi hsn, There is a pdf description which explains the THV Cavemanager trade manager EA. The features and setting options are there. THV Cavemanager EA Both the pdf description and EA in Post#30,032 If you have question on setting specific feature and exit according to your trade exit strategy, you can post here and I will help you with the actual settings. regards,
Hi Big Emm! I've some problems with CM setting. At the moment, I'm using "ATR in SL-TP" as indicator on Daily charts as my trading plan. It's default settings are: Period: 20 percent SL: 100 percent TP1: 50 percent TP2:200 i want to use CM with these settings with loss limit to minimum 8pips to protect my capital. Since i have just started TMS i'm using micro lot 0.01 to get a handle on the TMS good set up. Then i will do live experiment. Would u plz help me to apply these settings to CM. Can i PM u, u r senior most so needs ur permission. Regards,[/quote]

Quoting emmanuel7788
{quote} Hi Big Emm! I've some problems with CM setting. At the moment, I'm using "ATR in SL-TP" as indicator on Daily charts as my trading plan. It's default settings are: Period: 20 percent SL: 100 percent TP1: 50 percent TP2:200 i want to use CM with these settings with loss limit to minimum 8pips to protect my capital. Since i have just started TMS i'm using micro lot 0.01 to get a handle on the TMS good set up. Then i will do live experiment. Would u plz help me to apply these settings to CM. Can i PM u, u r senior most so needs ur permission....
Hi hsn, I can show you the CM setting for your SL and 2 TP_By_Batch exits. But I have doubt that your SL 100 pips and TP1 50pips, TP2 200pips will work out well when your trade D1 chart. I have not tried using CM with micro lot 0.01, therefore I am not sure how it will compute the TP_By_Batch. Instead of the trailing stop by pips, the exit management Trail_by_Candle_HL works better on D1 chart and your TP will be much bigger than 200pips. Let me work on this over the weekend. When I trade D1 chart, I use multiple positions entries and CM cannot handle multiple trades. regards[/quote]

Hi HSN,

Here attached in pdf .
Note I have a live trade example running using this setting.
We have to see how today' D1 candle will close since the SL is now trailing below yesterday's Low.... about -80pips from Entry.
The first scale-out Pos exit +70pips should cover part of this loss if the trailing stop get hit today.

regards,
Attached File(s)
File Type: pdf CaveManager setting for hsn.pdf   506 KB | 1,577 downloads
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #56,306
  • Apr 27, 2015 9:34pm Apr 27, 2015 9:34pm
Quoting mazingaz
I gave up trading alltogether for a few years until one day in February I stumbled upon this thread and decided to give it a go. The problem I had was that I was relying completely on some set of indicators without paying much attention to price, support/resistance levels, candle formations and inevitably failed. {image}
You made it after you come back to trading, is what matters now, excellent results
I Have Learned to Take Some Losses to Make Profits
  • #56,307
  • Apr 27, 2015 9:56pm Apr 27, 2015 9:56pm
Quoting cristy1980
Hi all, We all looked to TV on what happened with the earthquakes, and then avalanches on Mt.Everest which catch a lot of mountain climbers on Everest and died many of them... (We Romanians have 5 famous mountain climbers, and by now we know they are safe and sound and report back...) But with all of these, I have a question which keep come in to my head, and I wanted so much to hear from you... Like the initial developer of this thread said, how do I develop my mental fitness?! Lately I discover that this is what I'm missing.... the lack of trust,...
Hi cristy,

Good question "how do I develop my mental fitness?"
I am afraid you wont get a straight answer to this question. No two traders are the same. There are so many things you need to know about yourself being the trader. There are also many things you need to know about the market. First, you need to know what is mental fitness to be a trader. You need 'take stock' i.e. to make a personal assessment of your strength and weakness as a trader. You also need to know the strength and weakness of the trading methodology you trade. The Fear and Greed elements are there in every person as the trader. To a certain extend, this can be mitigated in the trading methodology, in money management strategy, in risk management, and in exit strategy. Trader's discipline plays a very important part in achieving consistency and to maintain consistency. Your beliefs about the market is another big factor to consider. A lot of the mental fitness criteria focus on the psychology aspects of trading and the trader. Your beliefs shape your thinking hence in the way you trade.

Trading the market is like a battle.
There is this Art of War by Sun Tze:

Sun Tzu said:
Know the other and know yourself
Fight one hundred battles without danger.

Know not the other and yet know yourself
One victory for one defeat.

Know not the other and know not yourself
Every fight is certain defeat.

Some good reading resources available at Dr Brett Steenbarger website. Take your time and read them and get more awareness of what there is.
http://www.brettsteenbarger.com/articles.htm

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #56,308
  • Apr 27, 2015 10:08pm Apr 27, 2015 10:08pm
Quoting mazingaz
I gave up trading alltogether for a few years until one day in February I stumbled upon this thread and decided to give it a go. The problem I had was that I was relying completely on some set of indicators without paying much attention to price, support/resistance levels, candle formations and inevitably failed. I can see things more clearly now... at least I hope... the results for the last couple of months have been very good even if only on demo. A big thank you to Emmanuel, Phx62, Xmen and all the other people who share their eperience and...
Awesome yet simple trades, way to go

Would you be kind enough to share your Fib indicator?

Thanks and Regards,
Raza
  • #56,309
  • Apr 27, 2015 10:11pm Apr 27, 2015 10:11pm
Quoting shr5
{quote} Awesome yet simple trades, way to go Would you be kind enough to share your Fib indicator? Thanks and Regards,

another FAQ:

BN Levels : Post#22,389 (also read post#49,341)
Prev D Fibo Post#22,389
Prev W Fibo Post#22,389
Day Open Line post#43,380
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #56,310
  • Apr 27, 2015 11:07pm Apr 27, 2015 11:07pm
Quoting emmanuel7788
{quote} another FAQ: BN Levels : Post#22,389 (also read post#49,341) Prev D Fibo Post#22,389 Prev W Fibo Post#22,389 Day Open Line post#43,380
Thanks
Raza
  • #56,311
  • Apr 28, 2015 12:34am Apr 28, 2015 12:34am
Quoting emmanuel7788
Nepal Earthquake Disaster - Please help the people. {image}
What a loss of human lives. Thanks every one for the comfort words. It was nightmare when we were warned for another 48 hour of risk. And more shake [ Twice ] Hope it's over now.
Sad i'm not trying to understand PA
  • #56,312
  • Apr 28, 2015 12:44am Apr 28, 2015 12:44am
Quoting omonisha
{quote} What a loss of human lives. Thanks every one for the comfort words. It was nightmare when we were warned for another 48 hour of risk. And more shake [ Twice ] Hope it's over now.
Good to hear you and your family are fine. Hope people can come back to normal life quickly....
Simplicity is the ultimate sophistication - Leonardo da Vinci
  • #56,313
  • Apr 28, 2015 12:48am Apr 28, 2015 12:48am
Quoting omonisha
{quote} What a loss of human lives. Thanks every one for the comfort words. It was nightmare when we were warned for another 48 hour of risk. And more shake [ Twice ] Hope it's over now.

Stay safe! Praying for Nepal!!
MY SITTING, NEVER MY THINKING!
  • #56,314
  • Apr 28, 2015 12:49am Apr 28, 2015 12:49am
Quoting omonisha
{quote} What a loss of human lives. Thanks every one for the comfort words. It was nightmare when we were warned for another 48 hour of risk. And more shake [ Twice ] Hope it's over now.
May the souls of the departed rest in eternal peace. I know its easier said than done but do try to stay strong for your friends, family and loved ones.
Raza
  • #56,315
  • Apr 28, 2015 1:35am Apr 28, 2015 1:35am
Quoting mazingaz
I gave up trading alltogether for a few years until one day in February I stumbled upon this thread and decided to give it a go. The problem I had was that I was relying completely on some set of indicators without paying much attention to price, support/resistance levels, candle formations and inevitably failed. I can see things more clearly now... at least I hope... the results for the last couple of months have been very good even if only on demo. A big thank you to Emmanuel, Phx62, Xmen and all the other people who share their eperience and...
You´re on the right track !
Easy to say stand up and fight , but as you can see it works !
Now it´s the time for ttrading some green pips to your account .
Good job
Guido
Risiko birgt immer auch die Chance.
  • #56,316
  • Apr 28, 2015 2:12am Apr 28, 2015 2:12am
Hello BigEmm,

This is my first post, first of all I would like to thank BigE for starting this thread, and thank YOU for your mighty efforts to continue educating traders this system.

I used to trade with this DynamicFibChannel using stochastic but as you know stochastic can fake entry and exit sometimes, thanks to TMS system and TDI it gave me a boost of confidence with my entry and exit now.

my entry and exit now are @closest fib level when TDI give a signal @68 or 32 area.

the channel fibs are 23.5,38.2,50 and 61.8% of the SMA used (defualt is 20 SMA), 20SMA is best used with higher TF H1+ , I use 100SMA for lower TF.

this is my contribution to the thread as a thank you.

best regards,
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Attached File(s)
File Type: ex4 DFC.ex4   10 KB | 593 downloads
"the public is not yet ready for it" W.D. GANN
  • #56,317
  • Apr 28, 2015 4:23am Apr 28, 2015 4:23am
GA collapsed due to GBP GDP announcement.

10:30 GBP Prelim GDP q/q 0.3% 0.5 %0.6%

Anyone caught the move? And will it go down more?
Best regards, Zef
  • #56,318
  • Apr 28, 2015 4:39am Apr 28, 2015 4:39am
Quoting ZeF
GA collapsed due to GBP GDP announcement. 10:30 GBP Prelim GDP q/q 0.3% 0.5 %0.6% Anyone caught the move? And will it go down more?

just 'knee jerk' reaction due to stronger aussie and kiwi.

I took GBPNZD, +50pips but got stopped out now by the pullback.

GBPUSD D1 trend still intact and will continue upwards.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #56,319
  • Apr 28, 2015 4:55am Apr 28, 2015 4:55am
EURAUD 28 April H1 trades.
Took the entry during the Tokyo session when price broke below the previous Day low also the TOK_5H low with momentum.

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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #56,320
  • Apr 28, 2015 5:11am Apr 28, 2015 5:11am
Quoting emmanuel7788
{quote} just 'knee jerk' reaction due to stronger aussie and kiwi. I took GBPNZD, +50pips but got stopped out now by the pullback. GBPUSD D1 trend still intact and will continue upwards.
Missed the move - projects at work.


@emm are you selling into 2014 low ?


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Best regards, Zef
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