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  • #58,541
  • Jul 2, 2015 9:41am Jul 2, 2015 9:41am
Hi

some trades today
EURAUD H1 +70 +4

Attached Image (click to enlarge)
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AUDUSD +40 +30 +7 +8

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Emmanuel7788 Thank you for the teaching and advice people like you are rare

Have a great weekend!!!
  • #58,542
  • Jul 2, 2015 10:05am Jul 2, 2015 10:05am
Quoting brownboy
{quote} Can you send me the advanced adx indicator as i could not find it anywhere,i need the one shown in your chart
hi , i dont' know how up load the indicator , but is simply the same indicator of '' MT4 standard indicator ADX :
I think that someone called it ''advansed'' becouse it change color when it increases .
Look thi image .. at left are the ADX (sitting 7-21-42-89-144 periods) and at right the adv ADX (same settings) : are equal

Attached Image (click to enlarge)
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  • #58,543
  • Jul 2, 2015 10:14am Jul 2, 2015 10:14am
Quoting omonisha
{quote} Here i am in AUDJPY-D1. Almost same situation. We pick the one has more probability {image}
Ohhh.... i still have to learn a lot from you.
Thnx a lot for your guidance.

Regards,
Winners Never Quit, Quitters Never Win
  • #58,544
  • Jul 2, 2015 11:51am Jul 2, 2015 11:51am
Hi Emmanuel7788,

Yes, I have taken USDCAD long on demo on June 30th. My buy entry was 1.2425 (spread+1 pip of last week's high)

Thanks for checking.
  • #58,545
  • Jul 2, 2015 11:55am Jul 2, 2015 11:55am
Hello all,

First of all, that would be my first post on FF as a Junior member, but after a lot of reading already (especially on this thread).
Gotta say that eelfranz's posts were quite inspirational and that the method's simplicity made it very appealing.

Special thanks to Jmn5611 for putting together a pdf with all posts by eelfranz and graphs he has posted across the thread.

I have a couple of questions regarding the TMS system... Don't hesitate to tell me to go back to Babypips school or something, the purpose of posting here is really to learn so ... fire away

While the rules for entering a trade are crystal-clear, I was wondering how to deal with multiple time frames providing different signals. As I understand it eelfranz posted his method in a way that suited his trading style and timezone. In my case I live on GMT+1, so I am up and running for following the market during the whole London session and most of the NYSE session as well. Starting from there, I would look at H4 and H1 charts to decide on an entry.

1- What would be a good stance when H4 and H1 are not giving me the same signals ? To take a concrete example I faced a few times already, H4 chart showed me a good entry (TDI Crossing and Stochs), which I took. An hour later, H4 has not moved and is still telling me the same story, but TDI goes flat/hooks/checkmarks on the H1 chart. Am I supposed to ignore the H1 signal and go with the H4 flow, are there other factors to consider ? Do I need both planets to align to stay in that trade ?

2- Same question when looking at D1 vs H4

3- Eelfranz closed all his trades to avoid ranging markets at 6am his time, that would be 2pm my time (more or less NY open). I might have miscalculated that, but do I really want to be out of the markets during the last 2 hours of London, which are overlapping with the New York open ? Also, when being close to the computer to check on trades regularly, is there any incentive to leave trades based on H4 candles do their thing (or use H4 charts at all instead of H1 for that matter) ?

4- Finally, even though I've read most of this thread, I did not catch a clear direction regarding money management. Right now I stick to a 14/18 pips S/L when trades are based on H1 charts, and 40/45 (No german pun intended) when using H4. My only problem is that so far, I did not get a good risk/reward ratio for any of my trades based on those entry/exit signals (1.2 is the best achieved so far). Getting them lower would have led the trades to hit the SL when not going the right way in the first hour (to then go back my way). Any suggestion or experience to share on how you handle MM on those trades ?

That's a lot of blabla, so thanks to anyone who will take the time to answer
The solutions are in your mind, not in the market...
  • #58,546
  • Jul 2, 2015 12:10pm Jul 2, 2015 12:10pm
Quoting emmanuel7788
{quote} Your were wrong in Big Boss and Boss. Don't use these terms in TMS. You need to define what is your Primary Trend, your Intermediate Trend and Secondary Trend. Since we have a new month, start lookig at MN chart. what is the trend? Then move down to the Weekly, is the Weekly in agreement with the Monthly? Then next down to the Daily, what do you see when today market session open? Where is your neareast support and resistance? previous day Open, High, Low and Close OHLC. Are we near to a BRN? yes, there is 1.5600. What happens at BRN? are...

Thanks for sharing 'Learn the Power of Time Frames'. Informative site. It explains BEOB/BUOB that you frequently mention but I didn't know what that is.
  • #58,547
  • Jul 2, 2015 1:32pm Jul 2, 2015 1:32pm
Quoting emmanuel7788
{quote} Your were wrong in Big Boss and Boss. Don't use these terms in TMS. You need to define what is your Primary Trend, your Intermediate Trend and Secondary Trend. Since we have a new month, start lookig at MN chart. what is the trend? Then move down to the Weekly, is the Weekly in agreement with the Monthly? Then next down to the Daily, what do you see when today market session open? Where is your neareast support and resistance? previous day Open, High, Low and Close OHLC. Are we near to a BRN? yes, there is 1.5600. What happens at BRN? are...
Thanks for your detailed reply Emm..overlooked your post.. Will definitely delve into what you had shared. Thanks loads!
  • #58,548
  • Jul 2, 2015 2:56pm Jul 2, 2015 2:56pm
Quoting OreaM
Hello all, First of all, that would be my first post on FF as a Junior member, but after a lot of reading already ......... That's a lot of blabla, so thanks to anyone who will take the time to answer

Welcome to TMS OreaM,

As always, I'm sure everyone will have varying responses to your questions since most active traders use their own "adaptation" of Big E's basic method to suit their trading style. I'll try and answer your questions as best as I can from my own experiences.

Firstly, Big E laid out a simple and effective trading system... there is no doubt that the basic principles of TMS still work well today. However, it is also worth noting that this thread was setup back in 2011. A lot has changed in four years. Average Daily Range (ADR) of most pairs has plummeted with a huge drop in volatility across most FX currencies. As a result, the pip-counts, TP's and SL's demonstrated in Big E's charts are far less common than when he was trading the system. To follow on from this point, most traders in here have dropped the stochs from their chart. Big E used them for confirmation but they tend to follow the TDI's movements anyway (best to try with and without and see how you get on).

Secondly, when it comes to TF's, if you have access to charts during London and NY sessions then you're right to consider H4 and H1. As you rightly said, Big E traded H4 to suit his timezone and lifestyle. However, he said in various posts that given the option, he would have preferred to trade H1 during London and the first 3 hours of NY.

It's important to choose a "trading" TF when learning. To start with, I'd follow a single pair on a single TF for a while. This keeps things really simple and will give you an idea of the kind of movements, signals, patterns etc. that occur. Once you're comfortable with this, then you might look at how your entries can be optimised with HTF and LTF analysis. Eg. Follow EU H1 for 3-6 months and learn how it moves. Make all your trading decisions based on this timeframe. Once your comfortable with it, open EU M15 and EU H4. H4 gives you your big picture and highlights major S/R zones & primary trend. M15 allows you to optimise your entries with pullbacks etc. In short, while you're learning don't worry too much about MTF analysis... its called "Trading Made Simple" for a reason

Lastly, when choosing your SL's and TP's, it really depends on the pairs you're trading and more importantly, what you're comfortable with. I trade EUR/AUD intra day on the H1 chart during London and occasionally NY. I use a 25 pip SL for all my trades. This is far too aggressive for most. I understand that I risk getting stopped out of some good positions using such a tight SL, but by analysing my own demo trades over several months I found this MM strategy to be most effective for my entries. In terms of TP, 50-60% of the ADR tends to work well as a general rule. As before, you'll note that many traders in here (myself included) use Multiple Entries and Multiple Exits (ME/ME) but I found it useful to stick to single positions while learning.

In my opinion, the best way to learn this method (or any method in fact) is through the following steps (read more in the J16 thread in the commercial section):
1. Read: Read the thread, study posts by senior members (Big E's charts & Phx62 PDFs in the paperclip as a minimum)
2. Back-test: Study past data for a chosen pair. Look at typical patterns, trends and moves during your trading hours
3. Demo: Open a demo account and practice, practice, practice. Don't progress to live trading until you've completed three consecutive profitable months.
4. Live: Open a small live account. This can be topped up if needs be, as you become more confident

Remember, only 5% make it... give yourself the best possible chance!

Best of luck

Ballistical
Focus on the process and the profits will follow
  • #58,549
  • Edited 4:07pm Jul 2, 2015 3:49pm | Edited 4:07pm
Thanks for this very detailed answer Ballistical !

I was suspecting that market conditions had changed since the initial posts the moment I set up MT4 and compared the HA charts I had vs the ones that had been posted on this thread back in the days... proportional size of the candles (seem much shorter now), length of trends in one direction, etc etc... I could not find ADR for the last 2 years anywhere, thanks for confirming this ! I'll look up the ADR online to have that added to my toolkit, could help to know in which environment I'm about to swim I guess !

I've been on 1H PA for the last 2 months already for EU and GU,so with that short sample and the lack of previous data I was not too sure whether changes were due to the whole Grexit context or if the global forex conditions had changed throughout the last 2 years.

for the 4 steps :
1. I do a lot, and I mean it. Originally started with Equities spread betting books, then moved on to Forex. Babypips courses then a couple other books, currently on Trading in the zone & Technical analysis for Dummies (eh.. )... And I read here on a regular basis
2. Just figured out how to get historical data for MT4 and convert it for the desired TF, so working on it
3&4. Well I guess I deserve the stick here but I opened a live account a couple months ago already... trading for 0.1 a pip to try because I thought demo would be 'too theoretical' and that with the money side out of it I would be too reckless and bla... and anyway I would not risk much. I happened to have some luck with my beginner mistakes (had a couple of positions open while I was completely clueless about was NFP was and... it happened to be my first day live -_-' I realized it could have gone against me and what it would have meant with a more significant bet size, so I'm happy to focus on 2/3 now

Again, many many thanks for your answers, hope I didn't go too much off-topic here !
The solutions are in your mind, not in the market...
  • #58,550
  • Jul 2, 2015 6:42pm Jul 2, 2015 6:42pm
Quoting emmanuel7788
Staring the new month, follow the Monthly candle, follow the Weekly candle and follow the daily candle. Buy low, .. buy lower, ...buy lower only when there is retracement opportunity. Always have a stop loss and when the market prove you wrong, get out fast. {image}
Hi emmanuel... I have a few questions for you...

- when you talk about following the weekly and daily candle... are you talking about the previous that has closed or the one that is currently running?
- Why did you place your first order at the new day open? is there any particullar reason for that?
- How did you decide where to put orders? is it determined by a certain fib. retracement number or grid distance?
- Is your initial stops a fixed distance or simply below the last swing and are you willing to let price take you out at it?

- last but not least how do you determine your tp's? is it fixed in anyway? fib ext. ATR calculated?

It's a lot of questions, so hope you will bare over with me

Best,
Rene
  • #58,551
  • Jul 2, 2015 6:57pm Jul 2, 2015 6:57pm
Guys, how many desktop monitors do use on your computer because you can easily spot most of the trading set up?

I only use a single 14" LCD monitor and it takes quiet some time to check other crosses pairs once the candle closed.
  • #58,552
  • Jul 2, 2015 7:12pm Jul 2, 2015 7:12pm
Quoting pwnstars
{quote} Hi emmanuel... I have a few questions for you... - when you talk about following the weekly and daily candle... are you talking about the previous that has closed or the one that is currently running? - Why did you place your first order at the new day open? is there any particullar reason for that? - How did you decide where to put orders? is it determined by a certain fib. retracement number or grid distance? - Is your initial stops a fixed distance or simply below the last swing and are you willing to let price take you out at it? - last...

Hi pwnstars,

Great questions and thanks for asking them.

Q.1 is easier to answer so I do it right now as I have a great distance to travel today for the weekend.

Using the Weekly candle bias means to look at the previous candle closed. When the trend is not clear and we do not know what the amrket type is, we follow the previous week closed candle to help us make our trading decision.

See GBPNZD example below. using the MN and W1 charts, we can look for 4H swing trades much easier. Every week, we just trade 3 to 4 days at 4-hourly intervals.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPNZD MN POMO week 27.png Size: 34 KB


Attached Image (click to enlarge)
Click to Enlarge Name: GBPNZD W1 week 27 POMO.png Size: 42 KB


I will answer your other questions later when I reach my next pit stop.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #58,553
  • Jul 2, 2015 7:34pm Jul 2, 2015 7:34pm
Quoting emmanuel7788
Now for some post mortem analysis and study practice using multi timeframe analysis. There is a quiz on H1 TF why that setup should not be taken. If you got the answer, then I think you have already the 'third eye' for trading TMS. Keep working on your 'third eye'. {image} Have Fun trading and learning. The market pays you to learn.

Hi Folks,

I owe you all my 'answer' to this quiz.
What is this 'third eye'?
We all have a 'third eye' in us. Just that some are better developed than others. There are a few who had not open theirs.

Read the pdf attached.

Thank you to all of you who took time and try that quiz.
I see from the your answers that many have your own approach looking at charts and the use of support and resistance, moving averages, etc.
I am afraid there is no correct or wrong answer to that quiz question why that H1 setup should not be taken.
Last week’s post was to emphasize the use of the 10EMA and how the 10EMA on Day chart can be use as a filter to decide your trade decision when you trade in the lower timeframe. On H4, the 50EMA is used as indication where the 10EMA on D1 chart is. On H1, we use the 200EMA to guide us where the 10EMA on D1 chart is. Using the 50EMA and 200EMA on lower timeframes charts is only a visual aid which we must pay attention to the price action in the chart timeframe we trade in.
The other skill we need to have is how to identify the recent swing support and resistance on our charts. The recent price swings must be seen with clear change in colour in the APB candles and the size of the APB candles. Also how to look at candles – big candles and small candles, and use them to determine the market condition what I call market type. There are different market conditions which we see at different times of the day and also at different times of the week and also in the month. Market type is just a categorized definition of the market conditions to help us make trading decision. We can discuss these in this thread.
What is most important is to always start from the higher timeframe and drill down to the next lower timeframe one step at a time to see the trader setups. Do not trade against the higher timeframe is the rule to filter and get only the higher probability A+++ setups.
The same ‘big candle’ rule applies in all timeframes. Do not chase after a ‘big candle’ and do not trade the trade setups in that chart timeframe after a ‘big candle’ in that same timeframe.
What is ‘big candle’? A candle that has the highest range (high to low) compared the last 3 to 5 candles.
What are ‘small candles’? these are small range candles usually they include Inside Bar, short Doji, and all candles within the high-low of a Master Candle [3].
Price Action using price patterns is an added advantage to trade TMS 5-Method. But there are too many of these price bars/ Japanese candlestick patterns. For simplicity, I would just limit my selection of the few pattern which are most frequently seen on our charts. Also, I would use the MT4 platform switch to Bar Chart and have it in foreground of the APB candles. This way we can see the price bar patterns and at the same time have view of the APB candle colour and size. Price action is based on the real price bar and not the APB candles.
Now read the attachment here and learn from it.
I am sure you know that you have that important 'third eye' in you.

Regards,

Have a good weekend.
Attached File(s)
File Type: pdf GBPAUD Quiz answer.pdf   444 KB | 967 downloads
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #58,554
  • Jul 2, 2015 9:07pm Jul 2, 2015 9:07pm
Quoting emmanuel7788
{quote} Hi Folks, I owe you all my 'answer' to this quiz. What is this 'third eye'? We all have a 'third eye' in us. Just that some are better developed than others. There are a few who had not open theirs. {image}
Thanks Emmanuel . . . very informative as always.

Best,
N
  • #58,555
  • Jul 2, 2015 9:13pm Jul 2, 2015 9:13pm
Hi all ,
Aud/Usd , i place this order few minutes ago and i think that it could go down to 0.7000 ( about 500 pips ) with small StopLoss ( i place my SL in 30 pips ) .
GL all
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  • #58,556
  • Jul 2, 2015 10:14pm Jul 2, 2015 10:14pm
Quoting LvCa
Hi all , Aud/Usd , i place this order few minutes ago and i think that it could go down to 0.7000 ( about 500 pips ) with small StopLoss ( i place my SL in 30 pips ) . GL all {image}
Hi LvCa,

Coincidentally I was looking at audusd chart while 'AUD Retail Sales s.a.' came out and it went down vertically. I didn't take this trade on demo because of WRB rule. It grew so big in a min. Do we trade news after-effect using TMS method?

Is there any reason you believe it will go 500 pips (!) following a medium impact news release? Am I missing something here?

Good trading.
  • #58,557
  • Jul 2, 2015 10:57pm Jul 2, 2015 10:57pm
Quoting emmanuel7788
{quote} Hi Folks, ...........Have a good weekend. {image}
thnx a lot emmanuel7788 for educating us.

regards,
Winners Never Quit, Quitters Never Win
  • #58,558
  • Jul 2, 2015 11:34pm Jul 2, 2015 11:34pm
Interesting! What would you do?

USDCAD

W1- bullish
D1- bullish

H1 and H4 went down after NFP but entering PAC slowly, TDI going up too. Once TDI crosses yellow line close to 50, would you buy?
Attached Image(s) (click to enlarge)
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  • #58,559
  • Jul 3, 2015 12:28am Jul 3, 2015 12:28am
Quoting dewdrops
{quote} Hi LvCa, Coincidentally I was looking at audusd chart while 'AUD Retail Sales s.a.' came out and it went down vertically. I didn't take this trade on demo because of WRB rule. It grew so big in a min. Do we trade news after-effect using TMS method? Is there any reason you believe it will go 500 pips (!) following a medium impact news release? Am I missing something here? Good trading.
Hi dewdrop , i'm newer and i am only at pag 200 of this 3d ( i use this metod simply with my thinking , so .. i don't know the good rules ).. i think that Emmanuel or someone , can help you for this question ...
For the target of 500 pips (or more) , i think that this is a 3 Wave .
The resistance area (violet box) : i use the ADX for previous break out ( always with Stop Loss)
It's ONLY my wiew ...

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot2.png Size: 158 KB


Ps i have close 2/3 of this trade , so this is a free trade (if it will go , it will be good )
  • #58,560
  • Jul 3, 2015 1:14am Jul 3, 2015 1:14am
Quoting dewdrops
Interesting! What would you do? USDCAD W1- bullish D1- bullish H1 and H4 went down after NFP but entering PAC slowly, TDI going up too. Once TDI crosses yellow line close to 50, would you buy? {image} {image} {image}
Hi dewdrops! What version of Synergy pac are u using? I've tried many a times but the APB arrows are not loading on my chart, the other synergy programs worked well, don't getting it why only synergy APB arrows are not working?
regards,
Winners Never Quit, Quitters Never Win
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