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Trading Made Simple

  • #64,381
  • Jan 5, 2016 9:43pm Jan 5, 2016 9:43pm
Quoting Lookleft
{quote} catalin I hope you don't mind me saying so but that is sure fired over trading especially with an average gain of only 20 pips per winning trade. R:R per trade is important but one of the big money management things that most people forget is how much of their capital is at risk at any one time. Assuming say 6 of your trades were running at the same time and you risked 2% on each trade you have 12% of your capital at risk Far better to pick 2 or 3 good quality trades and earn 120 pips with far less capital risk. Oh and by the way,...

May I ask how do you manage your trade in a day?
My target for a day is only 20-40pips from 2 trades. 120 pips sounds like a lot already.

Also, why are you not a fan of the guppies?
  • #64,382
  • Jan 5, 2016 9:51pm Jan 5, 2016 9:51pm
Quoting emmanuel7788
{quote} Hi, Sometimes our techncial analysis and approach will fail us. The world markets are in chaos after what happened in the China markets. With current market sentiments leaning towards the safe haven currencies and Gold, I would not buy EURUSD till I see a higher timeframe bullish momentum in price which the RSI(TDI) will show us. Intraday very short term corrections and profit taking may bring EU up but we must wait patiently for a bullish reversal for any 4H swing trading and Position trading. Meantime, I am still in favour to sell, and...
Thank you
  • #64,383
  • Jan 5, 2016 11:21pm Jan 5, 2016 11:21pm
Quoting pulubi28
{quote} You are really doing well Catalin! I am still having a hard time increasing my TP of more than 20pips. Yesterday, I tried my TMS strategy with 30 pips TP, but I ended up on the losing side because it only went to 28pips and went the opposite way. It's still a long way on learning on how to catch the best entry, I guess. Thanks for your suggestion, Catalin. How I wish I could catch the winning pairs like you do.
I always aim for 80 - 100 Pips minimum but a allot of times I will only get 30 - 50 Pips per trade, which is ok, cause my goal is 50 Pips a day, I you can make 50 Pips a day you can make a 1000 Pips a month which will make anybody a happy camper, so dont worry if you dont hit every trade out of the park, singles and doubles also ads up quick.
  • #64,384
  • Jan 5, 2016 11:23pm Jan 5, 2016 11:23pm
Guys, I need help..

How do I overcome the feeling of doubt to the system I built with TMS? Whenever I have losing trades, I come to think that the TMS strategy I tested is wrong and I again need to add something in order to perfect this.. I know there is still a lot to learn and I am trying to read and watch the videos I could, but sometimes it just complicates more..
(DEMO account)
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The GbpAud loss is because I tried to exceed to my usual 20 pip target and tried to have 30pip TP. It went to the 20pip but was not able to reach 30.
The AudJpy short, I admit, was taken on a rush. It broke my psychology when I saw that Jpy is Strong and Aud is weak, I should have taken into consideration that it is not advisable to short after the 2 previous red APBs which are almost 80 pips each.
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Your suggestions are highly appreciated.
  • #64,385
  • Jan 6, 2016 12:08am Jan 6, 2016 12:08am
Quoting pulubi28
Guys, I need help.. How do I overcome the feeling of doubt to the system I built with TMS? Whenever I have losing trades, I come to think that the TMS strategy I tested is wrong and I again need to add something in order to perfect this.. I know there is still a lot to learn and I am trying to read and watch the videos I could, but sometimes it just complicates more.. (DEMO account) {image} The GbpAud loss is because I tried to exceed to my usual 20 pip target and tried to have 30pip TP. It went to the 20pip but was not able to reach 30. The AudJpy...
I know the feeling Pulubi28, It all changed for me when I learned to read the bigger picture and learned to read Price action, its true what they say about price action (price action is King) look at normal Japanese candles to sometime, it gives you a clearer indication of what is going on sometimes.
  • #64,386
  • Jan 6, 2016 12:25am Jan 6, 2016 12:25am
In Post 285 Big E said:

Quit making excuses.. if it was any simpler there wouldn't be a method... it's bare bones now. Simple rules, easy TDI entries and exits... fine tune it to your understanding... don't add anything... don't complicate it.

Many traders on the old thread said once they quit trying to improve it or making it more complicated... their pip take exploded.

He's right. Reading through the older posts I've decided to go back to "bare bones" and trade the original TMS. Without adding "new" things to complicate it (except for Spread and Average Daily Range stats in the corner).
Trading the old system is great. I missed it.

So here's a pack I've zipped up which has all the original indicators of the Trading Made Simple system including:

  1. The standard Stochastics 8,3,3
  2. The original TDI (with push alerts and e-mail alerts)
  3. The original Synergy Average Price Bars
  4. The 5 EMA

I'm having great success with the older chart!
I also like the old TDI as well. Repainting is not something I'm concerned about as the older TDI shows the angles much clearer than the newer Synergy Pro TDI (just remember, Big E used the old TDI!)

Give it a try and customize it to your liking

Attached Image (click to enlarge)
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Attached File(s)
File Type: zip TMS Original Big E.zip   131 KB | 1,686 downloads
  • #64,387
  • Jan 6, 2016 1:03am Jan 6, 2016 1:03am
Quoting blackfriday
{quote} Thanks for your input, Bushy, these are valid points. I hope to learn from a journal. After entering a trade, I often discover some mistakes - entered early or to late, against the trend, didn't check Stoch, similar constellations before, or yesterdays H/L etc. So maybe I should call it "book of rookie mistakes" :-) I think I will try it for some time
Tweak your strategy to keep you out of trades rather than in, I mean don't find tools that will get you into more trades, so if you look at a chart and see oh my strategy misses out on a trade or two, don't try and find a way to get into them, it is more likely to add more losing trades.

For example, I didn't have such a good day yesterday, so I've added a little arrow manually on my indicator that shows long or short from this system on the daily, so I won't enter a setup unless we're in the same direction on the Daily.

What you must remember it's kind opf like a game of football, you let one goal in, you need 1 goal to get back to where you started from, and this is what kills your capital.
  • #64,388
  • Jan 6, 2016 1:07am Jan 6, 2016 1:07am
Quoting stefan17
{quote} I know the feeling Pulubi28, It all changed for me when I learned to read the bigger picture and learned to read Price action, its true what they say about price action (price action is King) look at normal Japanese candles to sometime, it gives you a clearer indication of what is going on sometimes.
Simplify, I'm not knocking more indicators and shorter timeframes, the experienced guys will profit from it, but if you are struggling, KISS it.

I've been trading on and off for over 6 years, and I always find when I go longer timeframe, have more patience, take less trades, have less indicators, I perform better.
  • #64,389
  • Edited 1:56am Jan 6, 2016 1:24am | Edited 1:56am
If you look at this chart, on the 7 and 8th candles back, the 8th candle back could well be interpreted as short signal, but having looked at the daily chart the bias is up using exactly the same rules, that's my little red arrow on the indicator.

Then funny enough there is a clear long signal which is the correct trade.
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  • #64,390
  • Jan 6, 2016 2:17am Jan 6, 2016 2:17am
Quoting Bushy
{quote} Simplify, I'm not knocking more indicators and shorter timeframes, the experienced guys will profit from it, but if you are struggling, KISS it. I've been trading on and off for over 6 years, and I always find when I go longer timeframe, have more patience, take less trades, have less indicators, I perform better.
Yes I know that, I only trade 1hr, 4hr and daily charts, sometimes I trade with absolutely no indicators on my screen what so ever, all indicators lag and that is the whole massive problem with indicators, by the time you get the signal it is already to late.
  • #64,391
  • Jan 6, 2016 2:34am Jan 6, 2016 2:34am
GBPAUD-D1.. Divergence and price action Pattern
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Sad i'm not trying to understand PA
  • #64,392
  • Jan 6, 2016 2:59am Jan 6, 2016 2:59am
Quoting pulubi28
Guys, I need help.. How do I overcome the feeling of doubt to the system I built with TMS? Whenever I have losing trades, I come to think that the TMS strategy I tested is wrong and I again need to add something in order to perfect this.. I know there is still a lot to learn and I am trying to read and watch the videos I could, but sometimes it just complicates more.. (DEMO account) {image} The GbpAud loss is because I tried to exceed to my usual 20 pip target and tried to have 30pip TP. It went to the 20pip but was not able to reach 30. The AudJpy...
First of all, who doesn't have losing trades? I know I do. I know others do. I know everybody does. So do not worry too much for a trade that you lost. It is part of the 20%-30% that are losers, that is how I think about it.

Secondly, it is not good to have a fixed number of pips as SL and TP. Some pairs move much more than others. If you are using the PAC, use that to put your initial SL under/above it and trail it along the road, until your TP is hit. This way you minimize the risk. Dean has a video that explains that you should follow the yellow brick road. That's the PAC.

Another way to place your SL is under/above the last swing. Sometimes it is very close to the PAC, which makes it better.

And always try to use at least one higher timeframe for confirmation. If the higher TF tells you to sell, than on the lower TF you are only looking for sell signals. It does not mean you will have only winning trades that way. But it does mean you will be having an edge. You are still at the beginning of the TMS journey, so you need to keep practising and to be patient. In time, you will start seeing things clearer and clearer.

I hope that was helpful.
  • #64,393
  • Jan 6, 2016 3:02am Jan 6, 2016 3:02am
Quoting Dimi.A
In Post 285 Big E said: Quit making excuses.. if it was any simpler there wouldn't be a method... it's bare bones now. Simple rules, easy TDI entries and exits... fine tune it to your understanding... don't add anything... don't complicate it. Many traders on the old thread said once they quit trying to improve it or making it more complicated... their pip take exploded. He's right. Reading through the older posts I've decided to go back to "bare bones" and trade the original...
This is one of the guys that knows what he's talking about and he rocks! With his words and the simulator from Guido (or any other simulator), you will soon make it in TMS.
  • #64,394
  • Jan 6, 2016 3:04am Jan 6, 2016 3:04am
Quoting pulubi28
{quote} May I ask how do you manage your trade in a day? My target for a day is only 20-40pips from 2 trades. 120 pips sounds like a lot already. Also, why are you not a fan of the guppies?
Hi pulubi,
When I started trading many years ago, like all new traders I watched lots of pairs and traded everything I saw. At the end of a day I was exhausted and stressed out after making 10 or 15 trades and only winning about 100 pips and a win ratio of about 50% if I was lucky. I also noticed that I had missed a couple of obvious trades that could have given me 30 to 50 pips each instead of the 10 I had won from each of my trades. The first thing I did was reduce the number of pairs I watch and looked for better trades that gave me 20-30 pips. It didn't take long to realize I only needed 3 or 4 trades to give me the same result I was getting before and my win ratio went up to over 60%. It's a question of quality is better than quantity ( and a lot less stressful).
Today I watch 6-8 pairs that have good pip value and low spread. I also make no more than 3 trades a day and never have more than 3 trades running at a time unless I have locked in profits. By looking for fewer quality trades my win ratio increased (2015 was 74.2%), the number of pips per trade increased and what is more important so did my income.
As for targets, don't set a daily target as you put yourself under pressure straight away because as the end of day approaches and you've not hit your target, panic trading takes over. Set a realistic 20 day target. If you look for quality trades with the trend, have patience and focus on fewer pairs your 20-40 pips from 2 trades will become easier and don't be afraid to walk away from trades that you are not sure about. At the end of the day you need to decide if you are a pip counter or a $ counter. The two are not always the same.
As for guppies, I like to see the chart and not pretty pictures . What are the guppies actually showing you that you can't see anyway? The more indicators you have the more you will get distracted from the true picture. I use the 200ema or my eyes for the longer term trend.
Hope this waffle helps
Never argue with a fool; onlookers may not be able to tell the difference.
  • #64,395
  • Jan 6, 2016 3:05am Jan 6, 2016 3:05am
Quoting Bushy
{quote} I've added a little arrow manually on my indicator that shows long or short from this system on the daily, so I won't enter a setup unless we're in the same direction on the Daily.
That's exactly what I do with my arrows.
  • #64,396
  • Jan 6, 2016 3:41am Jan 6, 2016 3:41am
Quoting pulubi28
Guys, I need help.. How do I overcome the feeling of doubt to the system I built with TMS? Whenever I have losing trades, I come to think that the TMS strategy I tested is wrong and I again need to add something in order to perfect this.. I know there is still a lot to learn and I am trying to read and watch the videos I could, but sometimes it just complicates more.. (DEMO account) {image} The GbpAud loss is because I tried to exceed to my usual 20 pip target and tried to have 30pip TP. It went to the 20pip but was not able to reach 30. The AudJpy...
Wasn't the indicator with the magenta line and price in the box on AUDJPY telling you something? If you have an indicator on your chart understand what it is telling you and have a rule for it or get rid of it.
There is nothing you need to add or can add that will help you. Remember what Big E (R.I.P.) did. He stripped away everything to it's purest form.
Was this a confusion trade or a panic trade
Never argue with a fool; onlookers may not be able to tell the difference.
  • #64,397
  • Jan 6, 2016 4:33am Jan 6, 2016 4:33am
Quoting stefan17
{quote} Yes I know that, I only trade 1hr, 4hr and daily charts, sometimes I trade with absolutely no indicators on my screen what so ever, all indicators lag and that is the whole massive problem with indicators, by the time you get the signal it is already to late.
You can say that indicators lag, but I like to look at them a little different, they are indicators, they indicate a summary of a certain type of information that is on the chart, and you can use that extra information to trade very successfully.

I don't wish to appear patronising, but believe me I've been there, it's taken me 6 years on and off to become moderately successful. Your comment clearly blames everything but yourself, and a sense of bewilderment, I can say this because I was exactly like that, I've felt it, the frustration, the confusion, the how the heck does this work?, even anger at why the hell could a reasonably intelligent person like not figure out when the market will simply go up or down, I've cried, I've laughed, I've been sick, happy, sad, you name it. I'm quite an emotional person and that has been my biggest hurdle of all.

Accept that this system works, it is one of the best I've seen, if not the best, it's simplicity is mega, I promise you, stick with this and it will probably be your best chance of becoming profitable quicker.

Forget all the moves in the chart you think you missed because you weren't concentrating, or because you were in the loo, or because the indicator you were using was lagging, or because it was snowing or whatever.

Preservation of capital is RULE #1, if you're not 100% sure of the trade let it be, yes in an hour it might have gained you 100 pips, but that doesn't matter, focus on what you can get.

Stick with it. I won't wish you luck, I don't believe in luck, you make you're own luck, you increase your probability of success, and that's what all this is about.

So good trading
  • #64,398
  • Jan 6, 2016 4:36am Jan 6, 2016 4:36am
Today we have the first NFP, anything could happen, from nothing except the spreads opening a little, to a one sided move of anything up to 500 pips maybe, to a snap move in both direction taking out a big chunk of the market.

I'm short on the EURUSD, normally I'd leave my stops, but because of the NFP, I am at BE, RULE#1 preservation of capital.
  • #64,399
  • Jan 6, 2016 4:45am Jan 6, 2016 4:45am
Ok, here is an example.

To me that is a short signal that has not already gone, Ok, there's another 3 hours and more to go on that candle, but you have to make the call, it might range until the candle is up, in which case it will be a confirmed non lagging signal, you could look at the 15m to look for how the rest of the candle might develop, look to the 15m maybe?

However as I mentioned before we have NFP, so.......
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  • #64,400
  • Jan 6, 2016 4:53am Jan 6, 2016 4:53am
Let's not argue or get into fights, cause let's face it, indicators or no indicators, guppies or 200ema or something else, it's all good as long as it makes you pips. It does not mean it is the best indi in the world, but it does mean it is the best indi in the world for YOU. Personally, I do need indicators on my chart, I've tried many, and what works for me regarding TMS, is what I have on my template: guppies, PAC, APB and TDI.

So let's stick to trading, guys!
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