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Trading Made Simple

  • #60,241
  • Sep 3, 2015 2:12am Sep 3, 2015 2:12am
Quoting tibovwh
Hi all, The TMS System has been one with ups and downs for me aswell. But most importantly, I'm giving myself enough time to learn the system. Many of the great TMS traders have lots more experience with forex in general i think and also a huge amount of screentime with tms and with other systems. As long as I don't jump from one system to another every week and I continue to study TMS then I'm progressing. On the other hand, within the TMS system I have been moving from TF to TF depending on the amount of time I had during the day. In the coming...

Hi,

Before I provide with some information on How to Develop a Winning System that Fits You,

please tell me these for a start:
- have you decided that forex trading need to be treated as a business?
- what will be the business hours which you are committed to on an every day basis to trade?
- what type of market do you want to trade?
- are you an intraday trader, a swing trader or positions trader? can you be all three?
- how much time are you willing and prepared to commit to system development? on average hours per week (without sacrificing your time for family)

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #60,242
  • Sep 3, 2015 2:32am Sep 3, 2015 2:32am
Quoting emmanuel7788
EURNZD 3 Sep: The last H1 setup signal was good with the H1 IB breakout. Now we should look at H4 to see if there is a high probability price action trade setup. {image} What is the market type? trending or sideways?
Hello emmanuel7788

I follow your post and i interest in you template & Expert TMSmonitor-V1.1 how can i get this I load at your post "http://www.forexfactory.com/showthread.php?p=8466225#post8466225" but when i change time frame it didn't change how can i change this.

Thanks you for your support

Best regards,
Kenjir0
  • #60,243
  • Sep 3, 2015 2:49am Sep 3, 2015 2:49am
Quoting Fx-NewBee
{quote} Hi Emmanuel, I am also trying to learn this method and have one question on this picture. What should I use to define the trend, is it TDI cross? Can you please explain in steps that if H4 TDI is crossed up and H1 TDI is down, how should one plan an entry? I am struggling with multiple time frame analysis. Thanks in advance. Thanks.
When H1 TDI crosses up, of course.

I asked a similar question about trend a few pages ago, but I haven't received an answer. So I'll ask it again: If the H4 shows PA in an uptrend, but it is not supported by TDI (let's say it is down, or it is pointed up, but has not crossed up yet), is this a good time to go to H1 and look for buy signals? Or I should wait for the H4 TDI to be in agreement with the H4 trend, meaning that there has to be a bullish APB closed candle with crossed up TDI on H4 to be a valid up trend?
  • #60,244
  • Sep 3, 2015 2:58am Sep 3, 2015 2:58am
Quoting emmanuel7788
{quote} Hi, Before I provide with some information on How to Develop a Winning System that Fits You, please tell me these for a start: - have you decided that forex trading need to be treated as a business? - what will be the business hours which you are committed to on an every day basis to trade? - what type of market do you want to trade? - are you an intraday trader, a swing trader or positions trader? can you be all three? - how much time are you willing and prepared to commit to system development? on average hours per week (without sacrificing...
Thank you for your reply, Emmanuel. I appreciate your commitment to help new traders out a lot!


have you decided that forex trading need to be treated as a business?

I fully understand that forex trading is hard work and not an easy way to make money. I think that writing my trading plan can serve as a "business plan" and is a neccesary step towards becoming profitable. However, I don't expect my trading plan to be final any time soon and I think this might be a working document for some time.

what will be the business hours which you are committed to on an every day basis to trade?

I expect to be available during the day for the coming 12 months. However, consistently profitable or not somewhere in the next year, I will start working the year after, meaning that I will be available less during the day then. Perhaps then, it's not the best idea to try and master 1H charts but I hope I can move towards a longer timeframe. The experience from 1H shouldn't be completely useless?

I want to trade from FO (8AM my time) untill NYO+3 (17PM my time).

what type of market do you want to trade?

Clearly, forex markets. I want to focus on a pair like EURAUD to start which is something quite a few traders seem to be doing. For 1H chart trading the market type I'm looking for to trade is trending + wide range I think. When I focus on one pair and I start to get a good feel for this market I think 1h trading can be useful is many situations and I expect a few good signals every week atleast.

are you an intraday trader, a swing trader or positions trader? can you be all three?

I intend to trade intraday 1H charts. As said above, when I focus on one pair I will get a feel for the longer term charts too to incorporate in intraday trades (reversals / exit levels). I don't expect being able to be all three any time soon. To be all three you need many years of experience with the system. I have tried a couple of TF's in the past but I realize I need to decide and master one.

how much time are you willing and prepared to commit to system development? on average hours per week (without sacrificing your time for family)

Assuming my trading hours are fully used for trading I expect to have around 12-20 hours per week to devote to my system. However, I think there is some time during the day also to commit to improving.


Best,
  • #60,245
  • Sep 3, 2015 3:08am Sep 3, 2015 3:08am
Heres an interesting PDF to read and digest by Sam Eder, The-Definitive-Guide-to-Building-a-Winning-Forex-Trading-System
can also be obtained directly from here: https://www.axitrader.com/au/educati...mocode=fxrenew
Attached File(s)
File Type: pdf The-Definitive-Guide-to-Building-a-Winning-Forex-Trading-System.pdf   4.5 MB | 2,424 downloads
  • #60,246
  • Sep 3, 2015 3:25am Sep 3, 2015 3:25am
Quoting catalin_eros
{quote} When H1 TDI crosses up, of course. I asked a similar question about trend a few pages ago, but I haven't received an answer. So I'll ask it again: If the H4 shows PA in an uptrend, but it is not supported by TDI (let's say it is down, or it is pointed up, but has not crossed up yet), is this a good time to go to H1 and look for buy signals? Or I should wait for the H4 TDI to be in agreement with the H4 trend, meaning that there has to be a bullish APB closed candle with crossed up TDI on H4 to be a valid up trend?
hi catlin ..sorry to say .....i gues you didn't read this thread al all..be..coz i am going to ans according to late great BIG E and from page 1!!!!
Entries and exits...

We Enter a trade when green crosses red on the TDI at the beginning of that candle... If it's candle 3 or more don't enter... find another trade set up. The only exception is if green bounces off red and continues... it's ok to re-enter on the bounce...

Exit your trade when the green TDI line goes flat, starts to hook over or makes a check mark reversal.

If you add other things it will influence your decisions... usually to your detrament. Don't try to complicate it thinking it can't be this easy.

Important to study TDI entries on old charts, any time frame... Give yourself a chance and trade it like it's layed out...

dont complecate simple things go slow and read again agin at least 1st 50 page and big emm's post ..i hope you will not regrate ..IMHO
Say something meaningful or Silence!!
  • #60,247
  • Sep 3, 2015 3:47am Sep 3, 2015 3:47am
hi catlin and all new tms lover..1st try to forget all your own stg/system ..wish /will...lol AND concentrate on big e's sytem /stg (warrning

not your own..most difficult part but without is you cant hope success!!)
Again from 1st page by big e
I prefer to trade the 4hr charts at night. My broker posts new 4 hr candles at 10pm my time (Pacific), 2am my time and 6am my time.

My page when I open up my charts has 8 open charts. I just glance at the TDI for set ups when the new candle opens... If I see a set up... green just crossing red I'll take the trade, turn off the puter and go to bed. Four hours later (1:50am) my alarm goes off for the new candles and I take a peek... if I see a new set up I'll enter and go back to bed with the last alarm at 5:50am my time. I close all trades at that time and go back to sleep... There are enough set ups in a normal week to make 200-500 pips... Stress is zero...

If I do any day trading I'll use 1hr charts at news time. Any method and any timeframes are difficult and fast on the 5-15 min charts. That's where most traders get taken to the slaughter and the dealers know it which puts the odds in their favor...

I hate to monitor charts anyway. Even if I scalp the market I use 4hr charts with success....

4hr charts have less noise, less head fakes, less influence by any news. Just has a lot of benefits...

The key to building confidence is to study old charts... look at the TDI moves and how it looks on PA so every time you see that same set up you will know your odds for success are high.

look there is no words about tdi up/dn at other time frame ..offcourse it is important mtf analysis but 1 st know basic and parctice basic of TMS given by original creator of this thread big e...imho
Say something meaningful or Silence!!
  • #60,248
  • Sep 3, 2015 4:05am Sep 3, 2015 4:05am
At this time, tdi crossed for a sell, someone please correct me if I'm wrong, thanks
Motivation is what gets you started. Habit is what keeps you going
  • #60,249
  • Sep 3, 2015 4:08am Sep 3, 2015 4:08am
Quoting OuterWest
Heres an interesting PDF to read and digest by Sam Eder, The-Definitive-Guide-to-Building-a-Winning-Forex-Trading-System can also be obtained directly from here: https://www.axitrader.com/au/educati...mocode=fxrenew {image}
Thanks OW,
That pdf is a good short introduction.
I like this page....on 'Market Type'... that is one of the key.
Attached Image (click to enlarge)
Click to Enlarge Name: Market Type.png Size: 329 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #60,250
  • Sep 3, 2015 4:09am Sep 3, 2015 4:09am
Quoting efestus
At this time, tdi crossed for a sell, someone please correct me if I'm wrong, thanks

if you are talking about H1, then I say it's wrong TIMING.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #60,251
  • Sep 3, 2015 4:26am Sep 3, 2015 4:26am
Quoting classy
{quote} hi catlin ..sorry to say .....i gues you didn't read this thread al all..be..coz i am going to ans according to late great BIG E and from page 1!!!! Entries and exits... We Enter a trade when green crosses red on the TDI at the beginning of that candle... If it's candle 3 or more don't enter... find another trade set up. The only exception is if green bounces off red and continues... it's ok to re-enter on the bounce... Exit your trade when the green TDI line goes flat, starts to hook over or makes a check mark reversal. If you add other...
Quoting classy
hi catlin and all new tms lover..1st try to forget all your own stg/system ..wish /will...lol AND concentrate on big e's sytem /stg (warrning not your own..most difficult part but without is you cant hope success!!) Again from 1st page by big e I prefer to trade the 4hr charts at night. My broker posts new 4 hr candles at 10pm my time (Pacific), 2am my time and 6am my time. My page when I open up my charts has 8 open charts. I just glance at the TDI for set ups when the new candle opens... If I see a set up... green just crossing red I'll take the...

That would be Big E's post#6 and post #11.

http://www.forexfactory.com/showthre...17#post4569617

http://www.forexfactory.com/showthre...56#post4569656

But the problem for many novice traders is in interpreting post#261

http://www.forexfactory.com/showthre...16#post4575616

and post#647

http://www.forexfactory.com/showthre...40#post4581540
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #60,252
  • Edited 5:46am Sep 3, 2015 4:28am | Edited 5:46am
Hey there, Classy!

I must mention that I read the Big E pdf, but there was a post pages ago, where someone said to check the higher TFs. It is very confusing for someone who is new to the thread, because everyone uses this strategy a little different: some watch higher TFs, others have10, 50 and 200 EMAs on the chart as S/R, others have RN, so everyone has a different style. I didn't find mine yet, and I keep altering the charts, based on what I see on the charts of others.

I had to ask about the higher TF, because even Big E said to check the higher TF. It's somewhere in the PDF.
About H4 trades that Big made, he didn't do them in London session, and that's what I trade. He traded H1 in London session.

I think I'll stop trading, and do some backtesting on H4, to see if I should trade only the H4 fro now on. I hope it will be helpful.

Thanks, Classy!
  • #60,253
  • Sep 3, 2015 4:31am Sep 3, 2015 4:31am
Quoting kenjir0
{quote} Hello emmanuel7788 I follow your post and i interest in you template & Expert TMSmonitor-V1.1 how can i get this I load at your post "http://www.forexfactory.com/showthread.php?p=8466225#post8466225" but when i change time frame it didn't change how can i change this. Thanks you for your support Best regards, Kenjir0
ok, I will reply in that TMS Monitor thread later.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #60,254
  • Sep 3, 2015 4:37am Sep 3, 2015 4:37am
Quoting emmanuel7788
{quote} only UJ and GJ are the prettier ones when FO.

now the two not so pretty ones - EJ and AJ start to move before NYO=New York Open....
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #60,255
  • Sep 3, 2015 5:16am Sep 3, 2015 5:16am
Quoting emmanuel7788
EURNZD 3 Sep: The last H1 setup signal was good with the H1 IB breakout. Now we should look at H4 to see if there is a high probability price action trade setup. {image} What is the market type? trending or sideways?
Hi Emmanual
Seems on the H4 price is ranging with resistance above at 1.7900, but still 200pips until that level, but i dont see price action at the moment giving signals that its heading that way.. what you think?

Downunder
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: EURNZD H4.JPG Size: 82 KB
By failing to prepare, you are preparing to fail - Benjamin Franklin
  • #60,256
  • Sep 3, 2015 5:20am Sep 3, 2015 5:20am
and TDI not very exciting at the moment... sit on my hands.. and watch a movie...
By failing to prepare, you are preparing to fail - Benjamin Franklin
  • #60,257
  • Sep 3, 2015 5:31am Sep 3, 2015 5:31am
Quoting Downunder
{quote} Hi Emmanual Seems on the H4 price is ranging with resistance above at 1.7900, but still 200pips until that level, but i dont see price action at the moment giving signals that its heading that way.. what you think? Downunder {image} {image}

yes, at the moment this current H4 candle will close in about 35 minutes. the H4 candle is small and has no momentum and is flat at the BRN 1.7700.

Both Monthly and Weekly is bullish trending, but yesterday's D1 closed bearish and this conflict with the Weekly. Better to do nothing now since there is US data today in the US and also looking at NZDUSD, it remains flat. China holidays for 3 days and liquidity is quite low which affect Aussie and Kiwi.

It is round number play with the 00 price levels and with no good price action even on H1.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #60,258
  • Sep 3, 2015 5:31am Sep 3, 2015 5:31am
i think gu cant break yesterday low , and if gu cant break yesterday low today, can i assume there will be a reversal?
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 40 KB

and 1 thing i hate about forex , price hit my tp but just pass it and pullback.
Take What You Can , Give Nothing Back
  • #60,259
  • Edited 5:36am Sep 3, 2015 5:32am | Edited 5:36am
Took a trade CHFJPY with the TDI bounce, at BE now but hope to get my 20pips before the support level. If there wasnt space for my 20 pips i would not have taken the trade. More of a scalp as price heads towards support..
Attached Image (click to enlarge)
Click to Enlarge Name: CJ H1.JPG Size: 79 KB
By failing to prepare, you are preparing to fail - Benjamin Franklin
  • #60,260
  • Sep 3, 2015 5:39am Sep 3, 2015 5:39am
Quoting emmanuel7788
{quote} if you are talking about H1, then I say it's wrong TIMING.
Thank you very much Mr Emma, i took a buy, but it was very short, the news just now spike it to a large sell.
Motivation is what gets you started. Habit is what keeps you going
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