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Trading Made Simple the right way, and other trading lessons 334 replies

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Trading Made Simple

Quoting Desiree
From what I understand from Big E's method that he talks about at the beginning of the thread, he doesn't have a profit target, but only closes his trades down if the TDI goes flat, starts to hook, or make a check mark reversal. Or he just closes down his trades when it is 6 AM Pacific time. Does anyone use these methods for exits? Thanks again.
You can only use that strategy for exit if you use the same tdi that he used where it only updates at the close of the bar like Dimi A uses, scorps, myself and quite a lot of others, as he looked at the cross when the bar first opened, or flat etc, if it moves about a lot on each tick the angle can't be seen properly.
Quoting lastingwell
{quote}You can only use that strategy for exit if you use the same tdi that he used where it only updates at the close of the bar like Dimi A uses, scorps, myself and quite a lot of others, as he looked at the cross when the bar first opened, or flat etc, if it moves about a lot on each tick the angle can't be seen properly.
So, to be clear, you use the same tdi that Big E used at the beginning of the thread, but there is another tdi that, if using, you must exit with a different strategy? Thank you for replying.
Quoting Meihk
Hi all, Here are my trades using ME/ME with 5 method. GBP/CAD= 400, GBP/USD= 590+ pips. {image} {image}
Hi Meihk,

First of all I want to say that I have been impressed by your trades of late. You seem to be on the good way!

However, I don't fully understand why you cumulate your pips from your ME position building. I guess it is right that you got 100 pips on 4 positions (in your GBPCAD for instance) so you did get 400 pips. But since your building positions with smaller lots isn't this really 100 pips with a normal risk position? What % return did you realize on this GBPCAD trade if I may ask? Please don't take my post the wrong way. It just doesn't feel right to me somewhat but maybe I don't fully understand

Best,
T1.8 +157.75
A busy few days for me this last week so very little trading..
A bad trade here on EU. Price had steadily risen over the previous 24 hours and, I thought, was reacting to the MA’s and resistance from 48 hours previous. A short trade was entered with 50 SL and TP but the price was just pausing and soon continued its move up. I should have got out earlier.

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-50 pips

T1.9 +158.75
A USDCHF trade on the bounce of TDI at LO. Price reached 20 pips quickly and my EA took over to set SL at 1 pip. Price bounced on the following bar and I was stopped out with just one lonely pip.

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+1 pip

T1.10 + 183.75
AUD/USD trade on good TDI angle near OB. Because it was towards the end of London session and ADR was already near reached, I opted for SL and TP of 25 pips. TP wasn’t achieved until the following morning at LO.

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+25 pips
Quoting Dimi.A
{quote} Thanks Em. Hope your new years is going well so far and let's hope no more tornadoes hit our city lol. Hey Traders, Whilst sitting on the sidelines waiting for the Chinese shenanigans to settle I've opened a smaller account trading only 0.20 lots using Big E's TMS method on the 1H chart only and trading it on European session up to New York session. I usually lock in the profit once it reaches 20 to 30 pips. Easy game this TMS is! Remember the key is the angle of the TDI. The steeper the better. If the TDI is FLAT don't take that trade....
Just trying out some dummy trades this last day or 2, could you share your indicators for me to have a try with?
Quoting Desiree
{quote} So, to be clear, you use the same tdi that Big E used at the beginning of the thread, but there is another tdi that, if using, you must exit with a different strategy? Thank you for replying.
I use a tdi that just updates on the close of the bar like eelfranz did, the one I actually use is the tdi watchdog but is the same principal if set to not refresh until the bar is closed. There are also several others, they are "realtime" tdis that update on every tick, its a matter of personal preference which is preferred we all have our own ways of trading, but as a general rule, if you are not taking the angles of the tdi into account (either on entry or exit) then the realtime one will be just as good, if you are taking the angles into account as a lot of us do, then the one that updates just at the close is the best one to use.
Quoting tibovwh
{quote} Could we talk a bit about why these settings should be used for Big E's method? The difference is not only that it only updates once per bar instead of realtime? It's coded entirely different or what exactly makes this repaint? Why is it better for the 4H method? Do you use it like this yourself in your trading? I have been using the RT version for a long time and I'm starting to understand how PA affects the look of my TDI. In my eyes, it's basicly really important to let it close across. Aggressive entries with the RT version haven't been...
Hi,

I don't know if the coding was intentional or could have been a coder' error. But the creator of the TDI had since changed that to working realtime in his new releases. This is exactly what standard indicators in platforms do, which is to update on every price tick. Use the Fozzy RSI method to create the TDI and you will be alright.

You need to forward test both version and observe closely the TDI behaviour in response to the price action of the real price not the APB.
The issue is also when you scroll back to history charts, all the TDI Red Green are all refreshed and repainted and they are not exactly what it looked in actual market. Know the different ways in doing backtesting and how you develop your own rules for trading.

I have done a lot of forward testing and the more recent ones are in these posts.

http://www.forexfactory.com/showthre...31#post8569731
http://www.forexfactory.com/showthre...32#post8561432
http://www.forexfactory.com/showthre...40#post8556840
http://www.forexfactory.com/showthre...85#post8556185
http://www.forexfactory.com/showthre...67#post8552567
http://www.forexfactory.com/showthre...26#post8550526
http://www.forexfactory.com/showthre...09#post8550209



regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
Quoting pete.alfa
Hi Friends, Has anyone used 21/233ema for re-entry method? Or may be another method of ME/ME? from Big E post http://www.forexfactory.com/showthre...44#post4305744 Regards,

Hi,

Yes, I did some years ago but I decided on taking multiple trades entries based on TDI cross in the M15 or H1 timeframes which works better with a view to the Price Action.

You can compare the two re-entry methods and see which one suits you better for ME/ME trading.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
Quoting Desiree
From what I understand from Big E's method that he talks about at the beginning of the thread, he doesn't have a profit target, but only closes his trades down if the TDI goes flat, starts to hook, or make a check mark reversal. Or he just closes down his trades when it is 6 AM Pacific time. Does anyone use these methods for exits? Thanks again.

Hi,

To know why Big E did that for his exit strategy, you need to understand his money management and risk management. He traded H4 with 3 to 5 standard lots as one single entry so he would get out when the price closed and pulled back at his entry, he jumps out of that trade.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
Quoting efestus
{quote} Dear Emma, A Happy New Year to you, I do wish to start this Year on a Very Simple Trading Notes, The Chart here look very simple and TMS implies, If you do have the time to spare, do you mind sharing the indicators and also template to this chart and also link to other necessary indicators also, Thanks in advance and a wonderful trading season for you. Regards EF

Hi efestus,

Best wishes for the New Year and greater achievements both in life and in trading.
Have a great start this year, keep trading simple - just the APB, one TDI in the sub-window, choose one Moving Average on your price chart either the 5EMA(Typical Price, Shiftt+3) or just 10EMA(Close Price, no shift). Define your own trading rules using these as your trading template.

The two indicators I use are in these posts;
http://www.forexfactory.com/showthre...03#post7184503
http://www.forexfactory.com/showthre...71#post6625171

I only added a 20-day moving average to the TDI when I trade the D1 chart.

here is how you can do that:
Add 20-day MA to the TDI: Post#50,752 …and set the indicator properties Visualization tab to show only in the D1 chart timeframe.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
Quoting emmanuel7788
{quote} Hi efestus, Best wishes for the New Year and greater achievements both in life and in trading. Have a great start this year, keep trading simple - just the APB, one TDI in the sub-window, choose one Moving Average on your price chart either the 5EMA(Typical Price, Shiftt+3) or just 10EMA(Close Price, no shift). Define your own trading rules using these as your trading template. The two indicators I use are in these posts; http://www.forexfactory.com/showthre...03#post7184503 http://www.forexfactory.com/showthre...71#post6625171...
Good Day Mr Emma,
Thank you very much for your reply,
I had tried as you mentioned before, but it didnt come out too well as your chart,
In your best of time, kindly help me with the indicators and also the template.

Thank you very Much,
And A Happy Pipping Season for you.

Regards,
EF
Motivation is what gets you started. Habit is what keeps you going
Quoting teslaYoung
Hi guys I am a very beginner in Forex Trading, I started trading on and off since 2012 but I did not know any trading strategies, risk and money management at the time, then it's evident that I blew my account. Later on, I found Forex Factory is an awesome website for Forex learning, it becomes my Forex habitat since then. I spent few hours learning basics every day, recently, I am so attracted to this strategy and have been studying TMS for 3 weeks so far. Now I mainly study H4 Swing Trade based on 6 currency pairs, practice and more practice...

Hi teslaYoung,

Good post! Thanks for sharing this with others here. Keep doing it this way and I am sure you will learn from your demo trading this year and will develop to become a better trader. Do not be tempted to add more indicators. The triple screen approach is proven approach used by many professional traders.

When you trade the 4H swing, it would be good to look at the Monthly charts also and then the Weekly to see what the market condition is like. The market does not trend all the time. It tends to be ranging more than it trends. But when we do a proper top down analysis starting form the Monthly, to Weekly and to Daily, we can easily identify the market condition by its market type.
The Weekly will show use if there is a good range for 4H swing trading in the week.

Look at EURUSD which has been sideways ranging for many months and when we look at the H4 we see some good trades within the monthly range.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
Quoting efestus
{quote} Good Day Mr Emma, Thank you very much for your reply, I had tried as you mentioned before, but it didnt come out too well as your chart, In your best of time, kindly help me with the indicators and also the template. Thank you very Much, And A Happy Pipping Season for you. Regards, EF

Ok, could be the screen size and resolution. I have a FHD screen which is common these days.
Please post your chart and let me see what the problem is .
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
Quoting emmanuel7788
{quote} Ok, could be the screen size and resolution. I have a FHD screen which is common these days. Please post your chart and let me see what the problem is .
I use a laptop most of the time, with res 1366*768
Its pretty small 15", but its fine.
i searched your uploads for template but i have seen none,
I do like this simplicity in you chart,
most times, it comfort me reading through your chart, its like looking with the eyes of a distant mentor,
do be kind to share me with your temp and indic,
It would be very much appreciated,
Thanks

Regards,
Festus
Motivation is what gets you started. Habit is what keeps you going
Good thread I must say. But somehow I like trading without any indicators,
Quoting tibovwh
{quote} Hi Meihk, First of all I want to say that I have been impressed by your trades of late. You seem to be on the good way! However, I don't fully understand why you cumulate your pips from your ME position building. I guess it is right that you got 100 pips on 4 positions (in your GBPCAD for instance) so you did get 400 pips. But since your building positions with smaller lots isn't this really 100 pips with a normal risk position? What % return did you realize on this GBPCAD trade if I may ask? Please don't take my post the wrong way. It just...
Hi tibovwh,

yes i understand its only 100 pips with normal risk. but you have to think where will my SL be at if i trade normal risk on any giving trade 30, 50, 100 pips? that would bring me closer to PA, and that i learned will get me stop out very quickly trading a very fast moving pairs. If i use the ME method i would have 5+ trades to spread it out catching most of the retracement also lowering my risk as the retracement gets deeper.

I always put my SL below the swing low/high on HTF chart, with this pairs some time it can be over 200+ pips. if my plan is good market will have a harder time taking my SL out from swing low/high. for return %, what we suppose to do is start new basket of trades ever time price goes above first entry for long. but for this gbp/cad trade all i did was wait for price to move above the first entry and move my SL to BE, when i see high impact news and price is above the first entry i moved the SL above my first entry. that's what happen yesterday price pull back over 200+ pips on a high impact news and hit my SL i got out safe with profit. i should've taking out some profit at the top. some time you will find you're in a range market or find that PA signal a reverse, with 2/5 trades in and that's where this ME/ME method will help you lower your risk if you choice to take profit or lost and move on.

I realize there's really no way for me to know how deep the pairs might retrace and picking top or bottoms with a normal risk plan (what i used to do) is a bad idea for me, it will work some time but most time market take it. i tend to panic easy when draw down was overwhelming and i start to stress on the thought of losing 20 30 50 100 pips on a trade with normal/high risk positions. i also learned that i cant really focus and my emotions start taking over. this is all bad when it come to trading, fear/greed will take over easy when your mind is in stress.

some people they are very good with picking tops and bottoms that's great for them. but for me i know what i can handle and i like this method, so far its working out with my plan and the way i trade.

work it in your plan and back test it or demo it many times, don't take my words or any one else just try it out.

regards,
Meihk
Quoting emmanuel7788
{quote} Hi, Yes, I did some years ago but I decided on taking multiple trades entries based on TDI cross in the M15 or H1 timeframes which works better with a view to the Price Action. You can compare the two re-entry methods and see which one suits you better for ME/ME trading. regards,
Thank you Emmanuel
Hi all

Am a newbie to this method - really enjoying thread and help has been great.
I took a trade this morning on GBP/USD (see attached for screenshot as not sure how to embed within post itself).
It failed (I know I need to expect fails - not all trades work out ok) but wondered if there was anything I had obviously done on this that was wrong:

1. 1 hour timeframe
2. HA candle under the 5 EMA
3. TDI crossed down sharply and at 4-6 O'clock (it wasn't in the upper zone of the indocator region - is this an issue?)
4. Stoch was pointing down
5. No news expected

Any advice more than welcomed

thank you
Attached Image (click to enlarge)
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Just realised that as soon as post is published then image appears in the pst anyway :-)
Quoting bluemosaic
Hi all Am a newbie to this method - really enjoying thread and help has been great. I took a trade this morning on GBP/USD (see attached for screenshot as not sure how to embed within post itself). It failed (I know I need to expect fails - not all trades work out ok) but wondered if there was anything I had obviously done on this that was wrong: 1. 1 hour timeframe 2. HA candle under the 5 EMA 3. TDI crossed down sharply and at 4-6 O'clock (it wasn't in the upper zone of the indocator region - is this an issue?) 4. Stoch was pointing down 5. No...
Hi bluemosaic,

maybe the stop lost too tight, how big was it?
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