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Trading Made Simple

  • #62,721
  • Nov 7, 2015 7:56am Nov 7, 2015 7:56am
Quoting haemdoc
A question to the masters here. Is PA really EMA at 4 min or 5 min? and TDI a graphic of relation between EMA and RSI? If they are can you tell me the TF that are considered when calculating the TDI? Thank you H
Haemdoc,
I'm not sure what the real answer is!
We will need a math wizard to answer your question...
But I can tell you (imho) when it's all said & done that
everything (moving averages, tdi, rsi, stochastic, macd, etc.)
are designed to give people warm fuzzies...

Price action is the 1 true indicator!!! Everything else is subjective!

Having said that...I still like the tdi...but it's not 100% accurate!
sj
  • #62,722
  • Nov 7, 2015 8:02am Nov 7, 2015 8:02am
I see people having a lot of success which is my motivation but the problem is I see many crosses on the tdi which leads to a lot of takeouts as far as I know the simple method is to wait for the price to cross the 5ema and wait for the tdi cross however I am losing pips now my question is if I am tradin the 1 hour how do I determine the over all trend on the 4hr do I check for heiken ashi colours to see if they match the 1hr or do I add another ema or trendlines
  • #62,723
  • Nov 7, 2015 8:18am Nov 7, 2015 8:18am
Quoting trade786
I see people having a lot of success which is my motivation but the problem is I see many crosses on the tdi which leads to a lot of takeouts as far as I know the simple method is to wait for the price to cross the 5ema and wait for the tdi cross however I am losing pips now my question is if I am tradin the 1 hour how do I determine the over all trend on the 4hr do I check for heiken ashi colours to see if they match the 1hr or do I add another ema or trendlines
Trade786,

Nice meeting you!

Your question has Emmanuel written all over it!
I more specialize in the 4 hour & daily charts.

But overall on the 1 hour chart...You want to trade in the
direction of the 4 hour apb. When the 4 hour chart apb is red &
the 1 hour apb is blue, in my mind that signals...be careful.

When the 4 hour apb is blue & the 1 hour apb is blue...I'm way
more comfortable with the trade. Then always set your emergency stop
at the swing hi/low. Their is no such thing as 100% in Forex. We are
all taking calculated risks. Look for pin-bars...they are the best set-up.
sj
  • #62,724
  • Nov 7, 2015 8:26am Nov 7, 2015 8:26am
Quoting haemdoc
{quote} Great.. also a lot to learn. Could i ask you why three of my winning trades E/U ( a total of 0.2 lots) and 100 pips win only returned me 20 USD? Thought value of 1 pip in a micro lot is 1$. Am i calculating wrong?
I also say that 0.1 is 10$. But that is because it is easier to just approximate. The reality is that a pip in a micro lot is not 1$. It depends. See how the calculation is made: http://www.investopedia.com/ask/answ...rrencypair.asp
  • #62,725
  • Nov 7, 2015 8:32am Nov 7, 2015 8:32am
Quoting snarlyjack3
{quote} Haemdoc, If you go into your trade manager (where you place your buy/sell orders) there is a function towards the top where you can change your bet. .10,.20,.30,.50, 1.00, 10.00 per contract. I suggest that you keep your bet really low until you are fully trained & experienced! It is not good to have traders blowing out their accounts! I would rather you keep your bet low & get really good & street smart! Once your fully trained & experienced & good & street smart & answering lot's of questions....then raise your bet! In Forex it is better...
Dear SJ

I am only trading using a demo account. I have been burnt many time before because of my nativity. I have decided to take my lessons seriously. I will only trade real after learning. I am closely studying all things in this forum before I am buying using my hard earned dime. I was only asking as I thought that the value of the profit on that trade was lesser by one decimal.
Hoping to learn from you even more
  • #62,726
  • Nov 7, 2015 8:47am Nov 7, 2015 8:47am
Hello sj
Nice meeting you to and Thankyou for the response it makes sense to follow the main trend and I will surely do that from now on how are you doing with the 4hr charts do u get many trades
  • #62,727
  • Nov 7, 2015 8:59am Nov 7, 2015 8:59am
Quoting haemdoc
{quote} Dear SJ I am only trading using a demo account. I have been burnt many time before because of my nativity. I have decided to take my lessons seriously. I will only trade real after learning. I am closely studying all things in this forum before I am buying using my hard earned dime. I was only asking as I thought that the value of the profit on that trade was lesser by one decimal. Hoping to learn from you even more
Haemdoc,

If you study Eelfranz's posts...
Eelfranz was a great trader.

Anyway, Eelfranz started to learn how to trade, he
read & bought a system. Then he demo traded. Then
he went live...& lost his... he then quit trading & analyzed
old charts & how they moved for 2 years. Then went live
again betting $1.00 per pip. Then after awhile he upped his bet
to $10.00 a pip.

I figure that he spent his first 3 years of his trading career just
reading, demo trading & studying old charts. Which by my experience
is about right. Then after 3 years he started to crank it up...slowly. But
he knew exactly what he was doing. He was getting pretty chart smart
& street smart...

The moral of the story is: everyone I have met in trading, it has taken all
of them awhile (2-3-4 years) before they really cranked it up. Most of
them...not all...but most, have blown out at least 1 account if not 2 or 3
accounts in the learning process. Blown out accounts is almost a badge of
honor. Not the best way to do things but hey...things happen to the best of us.

It's a dream...it was all just a dream!!! My best advise is: be careful & give
yourself the time you need to be successful. Give yourself the chance to succeed!
sj
  • #62,728
  • Nov 7, 2015 9:03am Nov 7, 2015 9:03am
Quoting emmanuel7788
{quote} {quote} After years of trading, I stopped using pivots because they are very consistent "inaccurate" as support and resistance. We all have heard that the market remembers where it had been to in history and repeats itself. Therefore we use history prices to draw them as support and resistance. But we have never seen he market knows the future by using pivots and then see what it had been to its history.
Hi Emmanuel
I don't find pivots laughing manner in fact I make consistent money using it.
Trick is knowing how to use it same with your 10EMA or any other MA's
Fib pivot I am using is projected from weekly data and not accurate anymore once going past weeks in the past since lines are drawn from current week.
I have modified version that shows same pivots accurately on week by week bases.Fib ratios are strong confluences in the market and lots traders trade it using harmonic patterns which refers to Elliot Wave as well.
Let me give examples!Consistency of my pivot is remarkable!!Yes trading is discretionary same with trading MA's
Hope this clears up
Attached Image(s) (click to enlarge)
Click to Enlarge Name: AUDJPYH4.png Size: 44 KB
Click to Enlarge Name: GBPJPYH4.png Size: 45 KB
Click to Enlarge Name: NZDUSDDaily.png Size: 44 KB
In trading, you have to be defensive and aggressive at the same time
  • #62,729
  • Nov 7, 2015 9:06am Nov 7, 2015 9:06am
If you think its cherry picking I can assure you works on all pairs.
Here is my live trades going to next week
look down and see where price turned! 100R coincidence? think not
Attached Image (click to enlarge)
Click to Enlarge Name: EURGBPH1.png Size: 42 KB
In trading, you have to be defensive and aggressive at the same time
  • #62,730
  • Nov 7, 2015 9:08am Nov 7, 2015 9:08am
Quoting trade786
Hello sj Nice meeting you to and Thankyou for the response it makes sense to follow the main trend and I will surely do that from now on how are you doing with the 4hr charts do u get many trades
Trade786,

I love the 4 hour charts...I trust the 4 hour charts!
That's the most important thing is trust in the charts.

I can position trade the 4 hour charts. I can scalp the
4 hour charts. I can sleep through my trades on the
4 hour charts. I'm thinking of setting trades on the 4 hour
charts & just re position them every 4 hours, 5 days a week/
24 hrs a day (always flowing in the markets). I haven't done
it yet...bit it has crossed through my mind. Just always be in
the market & re position every 4 hours (just take a lot of cat
naps). Anyway...just a thought. Inho, the 4 hour charts is
where it's at!!!
sj
  • #62,731
  • Nov 7, 2015 9:14am Nov 7, 2015 9:14am
Same pivot modified that shows accurately previous weeks pivots.
Orange box is current week which is my focus and previous weeks I am not interested hence prefer using simple flat pivots which disregards past weeks data and only draws from current.
I am done talking about it.I apologize to TMS users for my injected posts.
Attached Image (click to enlarge)
Click to Enlarge Name: EURGBPH4.png Size: 48 KB
In trading, you have to be defensive and aggressive at the same time
  • #62,732
  • Nov 7, 2015 9:41am Nov 7, 2015 9:41am
Quoting emmanuel7788
{quote} Hi, Not sure if you have read these posts and the attached pdfs. If you have not, please read these and you will get the MM concept idea when I explain later. Money Management Big E on using multiple entries in the CHS thread Post#2622 , Post#2629 , Post#2771 and Post#2912...
Appreciate the reply Emmanuel,

I had read a couple of those indeed. The old thread where Eric traded 5M charts was new to me! It did shed some light on 'averaging up'. I think what I am looking for is your R-based method were you average up and lock in the previous trade. (I couldn't help but notice how much the charts in the old thread resembled Clive's "Trading is simple as ABCD" charts)

How did your D1 trades end up? Great GBPUSD calls, as usual. Impressive stuff!

Unfortunatly, my broker made some changes to demo accounts and their platforms and couldn't really trade. I hope to get back in the markets soon. Meanwhile, I have been working on something else. It's a compilation of Emmanuel's posts with image attachments in the TMS thread. I was originally not going to share this before I had a couple of years history but I reached the 1st of january 2015 today and decided to wrap this up and actually study this thoroughly first. While copying, I read everything but did not really get to studying the charts and really understanding them. So this is my next objective.

I split the posts up into 3 sections: D1, 4H and 1H. Clearly, this is not ideal as many posts consider multiple timeframes. But it's an arbitrary choice and not making it wouldn't really improve the end results imo. I believe the D1 is our compass for intraday trading and this will be the first that I actually study. I'm going to look at D1 charts more and try to master this. Trading 1H without a view on the D1 is like being blind. (200EMA, DOL, ...)

So far I only cleaned up the D1 section. I hope that somebody finds it useful, as I do. Let me know what you think, if you have any suggestions... If there is sufficient interest, I will clean up the 4H and 1H to share also. Only the three combined give the full picture of Emmanuel's / TMS trading.

Enjoy, and good luck mastering TMS.


PS: I hope you can open this .MHT format. (It opens in Internet Explorer when I open it). PDF format doesn't work as charts are compressed and unreadable.
Best read from bottom to top.

PPS: Ofcourse, the file is too big to upload on the forum. PM me for the file link
  • #62,733
  • Nov 7, 2015 10:42am Nov 7, 2015 10:42am
How can we avoid whipsaws if we use this method in smaller timeframe such as 15 mintue?
Has anyone make an EA based on the mehtod and backtest the EA? What is its winning rate?
Thank you.
  • #62,734
  • Nov 7, 2015 11:20am Nov 7, 2015 11:20am
Hello I closed all my trades on Friday before NFP. But I would have gained lots of pips if I had stayed in the trades. How do you know which direction the market will go and make pips of news?
  • #62,735
  • Edited 4:45pm Nov 7, 2015 3:33pm | Edited 4:45pm
  •  Hpt
  • Joined Jun 2015 | Status: everybody trade at one`s own risk | 648 Posts
Quoting Dridzz
Hello I closed all my trades on Friday before NFP. But I would have gained lots of pips if I had stayed in the trades. How do you know which direction the market will go and make pips of news?
Hello Dridzz

nobody knows which direction market goes,
for example I stood in a trade GBPUSD , the trade was very far in green pips my moneymangement allowed me to stay ,
I had an near SL ,the origanal tp was reached and protected, I attempted to get a few more pips, because I had won what I wanted ,
so it was like a freetrade. The trend was strong down which was my direction - winner , but thats really nothing I would do every day.
Best is to sit on your hands in such moments and wait 30M , one hour till dust is gone.

green pips
from level to level - you need mental strength to reach the summit
  • #62,736
  • Nov 7, 2015 3:48pm Nov 7, 2015 3:48pm
Quoting emmanuel7788
{quote} Hi LvCa, It is a terrible thing to lose $500 hard earned money trading this brutal forex market. You are very honest to post this and there are many lessons you can learn from this experience. But what is important is that you do not start another live trading account until you are have developed the skills which you will need in trading. It will take time and you need those skills developed and then lots of realtime practice in live market conditions. Give yourself 3 years staring from now. Lo0k at my profile and since I started in FF back...
Ty emmanuel , you and other people are good people . I have a confidence but i cant' tell it for my poor english and so i have fear to (no understand me ? ) .
You are right , for me , of all that you wrote... Expecialy for MM and mental fitness .
I come from the world of poker (Texas Hold'em), and I left because I can't see more than a good lead (at least in my country), then both components ( MM and mental fitness) are prerequisites to do this type of work so your post can help more people to do a good job.
  • #62,737
  • Nov 7, 2015 7:07pm Nov 7, 2015 7:07pm
Hi Everyone,

Here is a new indicator from Dean Malone At CompassFx
for us to analyze

Here is the video:

http://www.compassfx.com/video/ip/61112/61112.html

Here is the indicator:

Enjoy & have fun
sj
Attached File(s)
File Type: ex4 SDC_CompassFX.ex4   13 KB | 394 downloads
  • #62,738
  • Nov 7, 2015 7:10pm Nov 7, 2015 7:10pm
Quoting trade786
Hello sj Nice meeting you to and Thankyou for the response it makes sense to follow the main trend and I will surely do that from now on how are you doing with the 4hr charts do u get many trades
Hi trade786,
Watch VDO 4hrs MTF http://www.forexfactory.com/showthre...99#post8564499

Cheers,
  • #62,739
  • Nov 7, 2015 8:14pm Nov 7, 2015 8:14pm
Quoting tibovwh
{quote} Appreciate the reply Emmanuel, I had read a couple of those indeed. The old thread where Eric traded 5M charts was new to me! It did shed some light on 'averaging up'. I think what I am looking for is your R-based method were you average up and lock in the previous trade. (I couldn't help but notice how much the charts in the old thread resembled Clive's "Trading is simple as ABCD" charts) How did your D1 trades end up? Great GBPUSD calls, as usual. Impressive stuff! Unfortunatly, my broker made some changes to demo accounts and their platforms...
Hi Tibovwh,

Very good work from you. I have not seen it yet, but I am sure it will be a good peace of doc that traders will learn a lot from. I did PM to you to have the link.

Thank you very much.

okoso
  • #62,740
  • Nov 8, 2015 1:17am Nov 8, 2015 1:17am
Quoting emmanuel7788
{quote} well, Eric did mentioned the PA as basic forex (4x) things ...in his post#647 below Your safest trades will always be when green crosses red and you enter on candle 1 or 2... odds are in your favor. Why? Because I'm expecting 3-8 candles... which is average... With bounce trades the odds are lower for your success... but it still works. When wanting to enter a TDI trade... take a moment first to observe basic 4x things... like: How close am I to the previous high or lo Am I in an uptrend or downtrend.. short & long term... Am I in or close...
Quoting snarlyjack3
{quote} Good morning everyone! It's my Saturday morning, 5:30 a.m. I usually get up at this time to trade so my schedule is set... I really like Tms because of the interesting conversations. I started trading in 2008 & I've always been profitable & I learn new stuff all the time. I've studied all of Eelfranz posts. I've watched every video at Compassfx by Dean Malone. I even bought Nial's "learn to trade the market" using price action. Plus traded the market live for 8 years in all kinds of conditions. It has been a very interesting process... About...
Thanks EMU and SJ
Sad i'm not trying to understand PA
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