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Trading Made Simple

  • #59,081
  • Jul 22, 2015 10:10pm Jul 22, 2015 10:10pm
Quoting bigpips
Outstanding!! {quote}

Hi,

You know how money management plays an important part of the trading system when we want to grow an account.
The TMS 5-Method remains the core technical trading methodology and how we apply that in different timeframes to see the market type.
It is very difficult to get that single entry (TDI cross and APB #1 & #2 for entry) to get winners when we trade with Single Entry / Single Exit. Most traders will fail and be part of the 95% statistics.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #59,082
  • Jul 22, 2015 10:18pm Jul 22, 2015 10:18pm
Quoting emmanuel7788
{quote} Hi Derek, The moving averages will always catch up with the price. So we follow the price action to determine the market conditions whether it is trending or sideways "Market Type". There are different sideways market type, one is sideways wide range which can either be up or down. The other is sideways narrow range which we should not trade using TMS 4H swing. The use moving averages like the 10EMA (10-period Exponential, Close Price, Shift=0) on any chart TF is a good filter nothing more and should be use consistently. But use the MAs...
hi big emm how you locate swing hi lo on the chart
  • #59,083
  • Jul 23, 2015 12:54am Jul 23, 2015 12:54am
Quoting emmanuel7788
{quote} Hi, You know how money management plays an important part of the trading system when we want to grow an account. The TMS 5-Method remains the core technical trading methodology and how we apply that in different timeframes to see the market type. It is very difficult to get that single entry (TDI cross and APB #1 & #2 for entry) to get winners when we trade with Single Entry / Single Exit. Most traders will fail and be part of the 95% statistics. regards,
Is it the reading material for multiple entry/multiple exit? http://www.forexfactory.com/showthre...44#post6957144

I thought it's for advanced traders but after reading this post I feel like I need to get the concept sooner.
  • #59,084
  • Jul 23, 2015 4:32am Jul 23, 2015 4:32am
hello emmanuel, how do you handle a H4 pullback wick - stay away or is it ok for an entry if H1 shows a strong down candle?
f.ex. GBPJPY
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Regards
  • #59,085
  • Jul 23, 2015 6:16am Jul 23, 2015 6:16am
Does anyone trade on NU
Daily chart showing that current candle is IB Breakout
and maybe will close upper the PAC
do you think that reversal is begin?
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  • #59,086
  • Jul 23, 2015 6:40am Jul 23, 2015 6:40am
Quoting Meowww
Does anyone trade on NU Daily chart showing that current candle is IB Breakout and maybe will close upper the PAC do you think that reversal is begin? {image}

see this post:
http://www.forexfactory.com/showthre...88#post8394588

and you would have been in the market using H1 or M15.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #59,087
  • Jul 23, 2015 6:41am Jul 23, 2015 6:41am
Quoting fulltilt
hello emmanuel, how do you handle a H4 pullback wick - stay away or is it ok for an entry if H1 shows a strong down candle? f.ex. GBPJPY {image} {image}

do not chase after the market.
let it come back to you.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #59,088
  • Jul 23, 2015 7:10am Jul 23, 2015 7:10am
Quoting wattaman
{quote} Do you usually open more than 1 trade per signal?
No, It was 1 trade per chart, managed by THV CaveManager w/ multiple exits
  • #59,089
  • Jul 23, 2015 8:21am Jul 23, 2015 8:21am
Quoting firas1980
{quote} hi big emm how you locate swing hi lo on the chart

I use my 'third eye' to see many things which my two eyes cannot.

http://www.forexfactory.com/showthre...83#post8360983

you have lots of reading to do and catch up.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #59,090
  • Edited 10:52am Jul 23, 2015 9:16am | Edited 10:52am
Quoting Meowww
Does anyone trade on NU Daily chart showing that current candle is IB Breakout and maybe will close upper the PAC do you think that reversal is begin? {image}
To double emm I'd only do some intra day action and not any D1 setup. Backtesting shows 200+ pip reversals take place from bounces off round numbers. This one is not the case. PA will tell you what to do when 2 or 3 factors spawn a confluence, you'll see it. I'm watching it.

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GJ:
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Best regards, Zef
  • #59,091
  • Jul 23, 2015 10:47am Jul 23, 2015 10:47am
Quoting emmanuel7788
{quote} good priced positions. GBPJPY D1 chart update: We are holding on to the weekly burning candle, ... it get warmer near the flame some of us are holding on to the monthly burning candle. {image} What do you do when trade management? One of the rule is : "Take what they market gave you." Close open positions, take profit. Re-enter with new positions, re-do position size if you want and re-invest banked-in profits. This will keep your account balance healthy for many more trades. Think of closing one basket and re-open a new basket...
may i know what make you decide to go buy bias?
Take What You Can , Give Nothing Back
  • #59,092
  • Jul 23, 2015 11:00am Jul 23, 2015 11:00am
Quoting emmanuel7788
{quote} I use my 'third eye' to see many things which my two eyes cannot. http://www.forexfactory.com/showthre...83#post8360983 you have lots of reading to do and catch up.
i cant understand what is third eye this is buzzle oh my god this is a lot of information should be read . how can locate swing hi lo not in thread you gave
  • #59,093
  • Jul 23, 2015 12:36pm Jul 23, 2015 12:36pm
Quoting firas1980
{quote} i cant understand what is third eye this is buzzle oh my god this is a lot of information should be read . how can locate swing hi lo not in thread you gave
Swings are right there in front of your eyes when you strip your charts and ZOOM OUT.

I very warmly recommend you to stop searching for bits and pieces of information in various FF threads, and save a lot of time by going through the babypips school at babypips.com. Get familiar with Price Action, Support and Resistance, Divergences, Confluences, Price dynamics, Psychological levels, Candle formations, and all Forex basics before even attempting to understand the language here.

This thread is gold but without basic Forex knowledge I mentioned earlier, it won't do you any good.
Best regards, Zef
  • #59,094
  • Jul 23, 2015 1:53pm Jul 23, 2015 1:53pm
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  • #59,095
  • Jul 23, 2015 3:18pm Jul 23, 2015 3:18pm
Quoting emmanuel7788
{quote} do not chase after the market. let it come back to you.
Emmanuel,
several times I read different pieces of your vision of TMS. If it's possible, could you answer, please:
1. which pairs do you trade?
2. at what TF are you looking for the first signals? (canlde color change+TDI cross) [I know that you make Big Picture Plan on several TF's and ask only about main, "signal" TF]

I ask many questions in this thread, because
I researched this strategy and demo it for 3 monthes
(all major and minor pairs, TF=H1)
Then I moved to real acount with 2000 USD
In 1 month I increased it to 3000 USD
Then I decreased it to 1000 USD
I had 79 TP and 5 (ONLY 5) SL
My TP always was 20 pips, SL - at the solid LL or HH (~300 pips)
I'm sure TMS works, but now... I'm scared and ready to work at demo for more and more until I understand all mistakes and fix them.

Thank you for all your past and future advices! I'm learning with your posts.
Just an opinion. Based on research
  • #59,096
  • Jul 23, 2015 6:07pm Jul 23, 2015 6:07pm
After a good 2 years of learning the strategy and MM skills, I have officially blew my 1st account of loss of -3K.

For me, it does take some courage to admit it but I begin to truly understand FX trading is really not easy at all and have learnt SO many mistakes throughout my journey. I finally withdrew all that I have balanced left in my account and decide to take time off the chart and work on my DEMO account instead.

I hope to double up my DEMO account first before I take on a new LIVE trade, and hopefully when I am back on trading live, it will be a real bang!

Till then, trade safe!
  • #59,097
  • Jul 23, 2015 6:56pm Jul 23, 2015 6:56pm
It's either been a fluke week or the TMS philosophy is working for me.
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  • #59,098
  • Jul 23, 2015 7:23pm Jul 23, 2015 7:23pm
Quoting birdnest
After a good 2 years of learning the strategy and MM skills, I have officially blew my 1st account of loss of -3K. For me, it does take some courage to admit it but I begin to truly understand FX trading is really not easy at all and have learnt SO many mistakes throughout my journey. I finally withdrew all that I have balanced left in my account and decide to take time off the chart and work on my DEMO account instead. I hope to double up my DEMO account first before I take on a new LIVE trade, and hopefully when I am back on trading live, it will...
Sorry to hear that.

In retrospective, what would you do differently? What were your major mistakes? We can learn from your mistakes if you kindly share.
  • #59,099
  • Jul 23, 2015 7:26pm Jul 23, 2015 7:26pm
Quoting since80808
{quote} My TP always was 20 pips, SL - at the solid LL or HH (~300 pips)
Just to make sure it's not a typo- your TP was 20 and SL 300??? How does that make sense?
  • #59,100
  • Jul 23, 2015 7:40pm Jul 23, 2015 7:40pm
Quoting birdnest
After a good 2 years of learning the strategy and MM skills, I have officially blew my 1st account of loss of -3K. For me, it does take some courage to admit it but I begin to truly understand FX trading is really not easy at all and have learnt SO many mistakes throughout my journey. I finally withdrew all that I have balanced left in my account and decide to take time off the chart and work on my DEMO account instead. I hope to double up my DEMO account first before I take on a new LIVE trade, and hopefully when I am back on trading live, it will...

Hi birdnest the hardest part in my opinion is to admit it to yourself like you did, once you be aware that you are full responsible for your actions you work better with your innerself
I blew my account twice already, total around 2k, that in my currency was amost my year-sallary on that time, after a good time w/o charts now Im on journey to break-even from a much smaller account
acctualy just wanted to say don't give up, learn from the chart mistakes and mistakes inside yourself
trade safe!
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