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Trading Made Simple

  • #64,701
  • Edited 12:45pm Jan 16, 2016 9:57am | Edited 12:45pm
Quoting blackfriday
{quote} Please forgive me, if I'm asking a silly question: why is TMS called "5-Method" ? I have searched already some time ago and have found the basic paper of Big E, but no explanation of the name. Where does it come from? Thank you
It uses the 5ema . Think there is an alternative 10ema approach too and so this differentiates it.
  • #64,702
  • Jan 16, 2016 10:01am Jan 16, 2016 10:01am
Quoting emmanuel7788
{quote} Hi, What are your trading hours? I don't recommend that your trade H1. Believe me, many people lose their money trading short term like H1 and any timeframe and below H1. You can trade H4 or D1 chart TF, at any time during the day. If your trading hours are during the European markets hours, you can trade H4 and also D1. Start with EURUSD,GBPUSD, and EURJPY and trade these during the European market hours. You must not use fix SL and TP. You need to understand market volatility and learn where and how to place your exits. ME/ME, read this...
emmanuel I would like to ask you of anything that needs improvement in the eur/jpy big picture planning that I have done, I feel I have missed something.

Thank you.
It's in fear when people show what they truly value.
  • #64,703
  • Jan 16, 2016 1:41pm Jan 16, 2016 1:41pm
Quoting emmanuel7788
{quote} Hi, What are your trading hours? I don't recommend that your trade H1. Believe me, many people lose their money trading short term like H1 and any timeframe and below H1. You can trade H4 or D1 chart TF, at any time during the day. If your trading hours are during the European markets hours, you can trade H4 and also D1. Start with EURUSD,GBPUSD, and EURJPY and trade these during the European market hours. You must not use fix SL and TP. You need to understand market volatility and learn where and how to place your exits. ME/ME, read this...
Thanks a lot Emmanuel
I traded last week in h1 in London session .but u said I must trade h4 and Daily
I try this week post my trade .
  • #64,704
  • Jan 16, 2016 4:21pm Jan 16, 2016 4:21pm
Quoting emmanuel7788
{quote} I am sure you mean M5 and M15 charts ... and not H5 and H15. Stay away from trading H1 and below. I am sure your trading will improve when you trade H4 and D1 charts TF. This will help you develop more confidence in the 5-Method as your results will get better.
Woops, yes, thats what I meant..
By failing to prepare, you are preparing to fail - Benjamin Franklin
  • #64,705
  • Jan 17, 2016 2:02am Jan 17, 2016 2:02am
Quoting ensale
{quote} emmanuel I would like to ask you of anything that needs improvement in the eur/jpy big picture planning that I have done, I feel I have missed something. Thank you.

Hi,

here is my EURJPY Big Picture Plan for new Week 03 - 18 to 22 Jan.

Trade Well.
Attached File(s)
File Type: pdf Big Picture Planning EURJPY Week 03.pdf   327 KB | 1,238 downloads
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #64,706
  • Jan 17, 2016 4:28am Jan 17, 2016 4:28am
Quoting emmanuel7788
{quote} Hi, here is my EURJPY Big Picture Plan for new Week 03 - 18 to 22 Jan. Trade Well. {image}
Thank you very much for sharing, Emmanuel! It's a great help and an excellent template.
Best regards, blackfriday
  • #64,707
  • Jan 17, 2016 5:11am Jan 17, 2016 5:11am
Quoting emmanuel7788
{quote} Hi, here is my EURJPY Big Picture Plan for new Week 03 - 18 to 22 Jan. Trade Well. {image}
Thank you very much Emmanuel, this is excellent and helps me know what I need to put in the next big picture planning that I do.

I plan to do one weekly bpp every week, possibly with a different pair, I am here to learn and also to help others do the same.
It's in fear when people show what they truly value.
  • #64,708
  • Jan 17, 2016 7:12am Jan 17, 2016 7:12am
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.
Hi Lastingwell, I haven't been around for a while and not traded for a few months, Im looking to start from scratch again this year, could you please point out which TDI you refer too. Also do you keep it at the default setting?

Thanks
  • #64,709
  • Jan 17, 2016 7:47am Jan 17, 2016 7:47am
Quoting emmanuel7788
{quote} Hi, here is my EURJPY Big Picture Plan for new Week 03 - 18 to 22 Jan. Trade Well. {image}
Hello Emm,
If I correctly understood for ME, we looking setup entry in Daily TF.
When we had first entry, than we turn to H4 FT.

Price of course return to poolback, wait for candles pattern and make second entry.
than we wait for another swing pullback on H4, make next entry, etc..

regards, dan
  • #64,710
  • Jan 17, 2016 10:57am Jan 17, 2016 10:57am
Quoting emmanuel7788
{quote} Hi, here is my EURJPY Big Picture Plan for new Week 03 - 18 to 22 Jan. Trade Well. {image}
Dear Emm, I believe it is now best to trade the daily chart from most of your advice on this tms thread. Can you please give a brief over look at what your steps are when taking the trade on the daily tf, but not me/me because as a newish trader this is too advanced. Thank you very much.
  • #64,711
  • Jan 17, 2016 11:26am Jan 17, 2016 11:26am
Quoting emmanuel7788
{quote} Hi, to answer your questions:

1. keep a separate charts for planning and for trading. my trading chart is a clean one just the price bars and APB and one TDI and also my trade manager tools running. but on your planning chart, you can have all the lines and objects you want to use but when they get too cluttered up and hinders your view, you simply clean up till you see only what you need.

2. most important is know the market type for every currency pair you want to trade. I trade only the trending market type and the sideways wide range...

Good morning Emmanuel , hope you had a nice weekend.
Thanks for answering my questions. and,I would like to ask you more if you don't mind...

1. Can you recommend us any good trade manager, is this something I should concern about when I'm just a newbie? I think in some old posts you mentioned that you bought the trade manager and also have someone coded for you.

2. When you mentioned big economic events and what moves the currency market, can you share with us where is a good place to start updating this kind of information and how do we use them for our trading plan, can you give us an example?




Regards,

Steven

P.S. I pm you and provided a link where I stored my WK3 analysis. Would you kindly take a look and tell me anything I can make them better.
  • #64,712
  • Jan 17, 2016 12:41pm Jan 17, 2016 12:41pm
Hello, I am starting to read this thread. I am currently on page 94. Don't know how long it will take me to catch up, but... I think I can ask one question now that

maybe someone can help me on. It seems Big E traded the 4 hour charts. He was on Pacific time since he lived in Oregon. He traded at 10 PM, 2 AM, and

closed all trades at 6 AM in the morning. Of course, since he was on Pacific time, that equated with the London session. He then went on to state

that he did not trade on Sundays. He did not really go into detail on what he meant, so I am not sure if he meant that he skipped the 10 PM trade Sunday night and

then went on to trade the 2 AM and close all trades by 6 AM, or what. Does any of this that I am saying make sense so far? Sorry to be so long winded but, I want to

trade exactly the way Big E does on the 4 hour charts. I have Eastern Standard Time where I live. Does anyone trade the London session on Monday open, or is

Monday just too unstable as Big E said it was? Thank you in advance for your kind patience and replies.
  • #64,713
  • Jan 17, 2016 1:02pm Jan 17, 2016 1:02pm
@Desiree

I'm in UK, the market is usually very slow on the Monday London open, so at best opportunities are limited, this makes it harder to trade, the key to trading is to be able to say no to the wrong trades, on Monday's you will have more chances to fail.

But that's generalising, tomorrow may well be different, the market does seem to be trending quite nicely at the moment, so opportunities could be frequent, in some ways it's good, it can help you build confidence in what you do, but be prepared for the market to stall, where you can easily give lots of profit away.
  • #64,714
  • Jan 17, 2016 1:11pm Jan 17, 2016 1:11pm
Hi All

I have started following the thread since last week and have read through it all. I think this is really something which I can get my head around and go with it and learn to use it and the contributions here are fantastic

My background in forex has been up and down to say the least, I opened a 200 Euro account in mid January 2015 by early March 2015 that account was up to 15,500!! I totally traded on feel watching the price action with no regard for position size or risk management and my trades were winning big the majority of the time. Then one day I was on the wrong side of some trades, when better than expected job figures in the US was announced. My account in that afternoon went from 15k to 700. I stupidly kept thinking that it was going slow down and reverse but it never did! So instead of cutting my losses i let them run and run. I eventually got it back to 4k were I eventually cashed out and I have never went back.

The biggest lesson I learned was the whole psychology of trading, so I preceded to buy a few books on it. So now, I am ready to get back to trading but this time with good risk management and a good trading strategy, hopefully this is a good starting base for me.

I will post my trades as I go along here asking for advice. I have opened a demo account with FXPRO so will be working off that

Thanks from an Irish guy living in Switzerland
  • #64,715
  • Jan 17, 2016 2:03pm Jan 17, 2016 2:03pm
Quoting Desiree
Hello, I am starting to read this thread. I am currently on page 94. Don't know how long it will take me to catch up, but... I think I can ask one question now that maybe someone can help me on. It seems Big E traded the 4 hour charts. He was on Pacific time since he lived in Oregon. He traded at 10 PM, 2 AM, and closed all trades at 6 AM in the morning. Of course, since he was on Pacific time, that equated with the London session. He then went on to state that he did not trade on Sundays. He did not really go into detail on what he meant, so I...

There's not a written rule that Mondays are off by default. If there's red news at London or NY Cash open, then you can be sure major players will be active, and that is where you should be piggybacking too.

You can check yourself, here on FF there's a liquidity tool and you can decide for yourself whether you want to be in or out, and if you decide that it is a relevant tool.

Tomorrow it's a bank holiday in the US so the NY Cash market will not open. There isn't any red news release either. So there's the pre-conditions of a slow Monday, but one can never be sure, due to commodities and equities being all over the place.

By default I don't trade on Mondays. But if I see liquidity + range breaks, then you bet I'll be in that situation without second thoughts.

Good luck!
Best regards, Zef
  • #64,716
  • Jan 17, 2016 2:28pm Jan 17, 2016 2:28pm
Quoting emmanuel7788
{quote} Hi, here is my EURJPY Big Picture Plan for new Week 03 - 18 to 22 Jan. Trade Well. {image}
Hi Emmanuel, thanks for the EURJPY Big Pic planning. I compare it to my own & see what areas I have missed & what i should be looking out for. Thanks

Thanks ZeF for the Monday tips I wasn't sure what others did regarding Monday
  • #64,717
  • Jan 17, 2016 2:50pm Jan 17, 2016 2:50pm
Quoting emmanuel7788
{quote} Hi, here is my EURJPY Big Picture Plan for new Week 03 - 18 to 22 Jan. Trade Well. {image}
Wow - thanks Sir for such insight and learnings!
  • #64,718
  • Jan 17, 2016 4:22pm Jan 17, 2016 4:22pm
Quoting Next4467
{quote} Hi Lastingwell, I haven't been around for a while and not traded for a few months, Im looking to start from scratch again this year, could you please point out which TDI you refer too. Also do you keep it at the default setting? Thanks
I use the tms watchdog which you can set to either refresh the current bar or not refresh which I choose not to refresh. There is also the tdi red green alerts that Dimi A uses I believe, I have attached both of those.
Attached File(s)
File Type: ex4 @TMSTDI_WatchDog.ex4   23 KB | 448 downloads
File Type: ex4 TDI Red Green Alerts mod. 2015.fxdaytrader.ex4   30 KB | 502 downloads
  • #64,719
  • Jan 17, 2016 6:35pm Jan 17, 2016 6:35pm
Quoting Desiree
Hello, I am starting to read this thread. I am currently on page 94. Don't know how long it will take me to catch up, but... I think I can ask one question now that maybe someone can help me on. It seems Big E traded the 4 hour charts. He was on Pacific time since he lived in Oregon. He traded at 10 PM, 2 AM, and closed all trades at 6 AM in the morning. Of course, since he was on Pacific time, that equated with the London session. He then went on to state that he did not trade on Sundays. He did not really go into detail on what he meant, so I...
Hi,

It is good that your read this thread. Remember to take notes as your read. Post#1 is important, and also two important posts #261 and #647. As you read, look at charts and reference to these 2 important posts. Make screenshot of your chart and write notes based on your understanding of these 2 posts.

Next, a simple thing to do is:
Scroll back to all your charts starting from 2012 till 2015 - for these currency pairs AUDUSD, EURUSD, GBPUSD, USDCAD, USDJPY and EURJPY .
Look at H4 charts, how many TMS 5-Method trades opportunities do you see in one week. Count them?
- TDI cross setups with APB#1 and APB#2 (Reversal trades)
- TDI bounce setups with TDI agles 12-2 and 4-6 clock face angle. (Continuation trades)
- How many candles run for each of the above setups?

Do the same for D1 charts.
how many trades opportunities were there in one month for the same currency pairs above.

Has the market condition changed in 2012 to 2015 when compared to the period between 2008 to 2011?

Having done the above, you should be able to work on and write your business plan for trading in 2016.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #64,720
  • Jan 17, 2016 6:40pm Jan 17, 2016 6:40pm
Quoting Trader MT4
{quote} Hello Emm, If I correctly understood for ME, we looking setup entry in Daily TF. When we had first entry, than we turn to H4 FT. Price of course return to poolback, wait for candles pattern and make second entry. than we wait for another swing pullback on H4, make next entry, etc.. regards, dan

hi,

Reading this, it sound rather brief. I don't think you have fully understood the concept of Multiple Entries / Multiple Exits.

read these pdfs again and work on your charts.

Entry and Exits ... Post#19,617
How to Build a Position: Post#19,588

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
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