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Trading Made Simple

  • #65,181
  • Jan 29, 2016 7:25am Jan 29, 2016 7:25am
Quoting emmanuel7788
Nice work by BoJ' Kuroda today. {image} Hope many of your caught that breakout.

Hi emmanuel,

I am new to this thread and have been reading through all the posts by big E. I am currently at around 100 pages.

To me the method essentially is a momentum based method. If there little momentum like in 2012, traditional way of exiting the trade, i.e., when the TDI becomes flat or hooks over, could result in suboptimal performance I guess?

I see that you seem to have revamped the original TMS method into a new system. Where do I start to learn your method? Would you mind pointing to me some key post where I can start? Sorry if this is a silly question there are just too many posts in this thread!

Thx in advance!
  • #65,182
  • Jan 29, 2016 7:45am Jan 29, 2016 7:45am
EA H1 long and short, + 115 pips
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I Have Learned to Take Some Losses to Make Profits
  • #65,183
  • Jan 29, 2016 8:05am Jan 29, 2016 8:05am
which TDI version doesnt repaint, hard to backtest when they refresh
  • #65,184
  • Jan 29, 2016 11:20am Jan 29, 2016 11:20am
Last week I started building position in GBPAUD after a Bearish candle on Wednesday.

First position opened with a 4H Cross on Thursday - Entry 2.0526. I wasn't around to manage rest of the day and Friday.

Had good profit on Monday. Added on 2.04488.

Unfortunatly, Monday retraced the Thursday bar even further and closed very high. I was in floating loss and TDI was crossing. Since we made a HL I became scared about my position.

I took this as trade invalidation and closed with 5€ loss. This wasn't the worst however. I opened a new basket long to build new position with SL 2.0190. This position cost me 2% full risk.

Obviously, the long entry was very poor and not thought out beforehand. Better trade would have been entry on Thursday open - Build position - Re-enter after Thursday and Build position. TP Lower Channel Trendline and BRN 2.0.

Instead of an 9% Win we end up with a 2% Loss. Unfortunatly this is not the only stupid trade I did this week

Anyway, we learn every day and still demo trading so no harm done!

Great weekend all,
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  • #65,185
  • Jan 29, 2016 11:35am Jan 29, 2016 11:35am
GBPJPY 4H

Took a short on Monday following a good bearish setup I think. Added on the small retracement rejecting the Weekly Open Line (Thick green line).

In hindsight: Friday had a bullish setup as seen on the D1 chart. Wednesday and Thursday had Long wicks also indicating buying power. So for this week we should have been more careful to short.

We had good profit on the trade going on Tuesday so this trade should have never become a loser. Tuesday there was sharp move higher making HL (and perhaps giving first indication of the bullish reversal in the pair?)

Here also 2% loss.

Best,
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  • #65,186
  • Jan 29, 2016 11:49am Jan 29, 2016 11:49am
Had some good trades too fortunatly. Overall, End of first month:

-4%. Tried to force things too much last week. Really wanted to reach my 10% return per month target and it backfired. Wasn't completely disciplined anymore. For next month, I will continue D1 and 4H trading. I will cut back a little bit on the pairs I'm following and I will start with a lower target of 5% per month. This will suffice for now!

Best,
  • #65,187
  • Jan 29, 2016 12:10pm Jan 29, 2016 12:10pm
Quoting tibovwh
Had some good trades too fortunatly. Overall, End of first month: -4%. Tried to force things too much last week. Really wanted to reach my 10% return per month target and it backfired. Wasn't completely disciplined anymore. For next month, I will continue D1 and 4H trading. I will cut back a little bit on the pairs I'm following and I will start with a lower target of 5% per month. This will suffice for now! Best,
My thoughts too

I thought the 1hr was slow enough for me, but I have to stick with the 4hr, makes life a lot easier, just remember the compounding element, 10% per month, is much much more than 60% in 6 months.
  • #65,188
  • Jan 29, 2016 12:50pm Jan 29, 2016 12:50pm
Quoting tibovwh
Last week I started building position in GBPAUD after a Bearish candle on Wednesday. First position opened with a 4H Cross on Thursday - Entry 2.0526. I wasn't around to manage rest of the day and Friday. Had good profit on Monday. Added on 2.04488. Unfortunatly, Monday retraced the Thursday bar even further and closed very high. I was in floating loss and TDI was crossing. Since we made a HL I became scared about my position. I took this as trade invalidation and closed with 5 loss. This wasn't the worst however. I opened a new basket long to build...
Hey tibovwh, tough break man. I wrote a post 2 pages back about trading with trend regardless of what the TDI says or what the short term corrective move is. I don't know how long you have been trading, I was like you once where I made mistakes jumping out of a trade I thought was bad only to enter a worse trade. Before you take a trade on the TDI cross you should have a Price Action checklist. 0) Multiple Time Frame Analysis 1) Trend Direction or Ranging Markets 2) How volatile is the market 3) Is Price Action heading towards a Key support or Resistance level 4) Entry strategy (for TMS system when green crosses red) 5) Exit strategy 6) Risk Management (moving stops to breakeven or cutting a trade when it looks like it will go against you). Here's a chart below that illustrates Price Action and TDI on the daily chart for the GBPUSD and the importance of trading Price Action context then TDI.
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  • #65,189
  • Jan 29, 2016 1:00pm Jan 29, 2016 1:00pm
Quoting Bardy
{quote} Hey tibovwh, tough break man. I wrote a post 2 pages back about trading with trend regardless of what the TDI says or what the short term corrective move is. I don't know how long you have been trading, I was like you once where I made mistakes jumping out of a trade I thought was bad only to enter a worse trade. Before you take a trade on the TDI cross you should have a Price Action checklist. 0) Multiple Time Frame Analysis 1) Trend Direction or Ranging Markets 2) How volatile is the market 3) Is Price Action heading towards a Key support...
If there was anyone still long on the Daily on this pair they got crushed. TDI on that corrective move was a perfect 2 O'clock green crosses red (on my chart yellow crossing red ) . This pair has trended down over 1000 pips for months. Sure the argument could be that Price Action was around the Monthly Key level, however price likes to test these levels a few times before reversing course or continuing onward. Maybe it would be helpful for some of the newer traders to read up more on Price Action and to have a trading checklist before entering a trade. ​​
  • #65,190
  • Jan 29, 2016 1:18pm Jan 29, 2016 1:18pm
Quoting emmanuel7788
{quote} very good post. I LIKE!
Thanks Big Emm!​
  • #65,191
  • Jan 29, 2016 2:28pm Jan 29, 2016 2:28pm
i found this article that could help to understand price action...

http://www.swing-trade-stocks.com/price-action.html

Very very useful

Keep moving.
FXafrica " it is in giving that you receive..."
  • #65,192
  • Jan 29, 2016 3:05pm Jan 29, 2016 3:05pm
Trying to get familiar with the 5-method.... last week I had a good week, this week was a bad one. One example

AC H1
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There was a strong TDI signal, H4 confirming bearish trend, so I went short. Thinking of Big E "When a trade goes against me... I generally exit at 10-15 pips", I set a tight S/L. In hindsight, I have made some mistakes:
- I entered too late, not at beginning of candle #2, even more it had been a large candle
- my S/L was about 10 pips, much too tight - and I did not follow Big E's saying "If it turns and
continues (bounce) I'll just jump back in... Don't get so rigid..."

If I had stayed in or re-entered, I would have made profit, not loss.

I have to find my way .... I still don't know what is convenient for me, what is like me: since I have a day job, I am not able to check the charts every hour, so H1 seems to be difficult. On the other hand, trading H4, I always feel like being late, fearing trades moving against me.

I am glad, that I am on demo ...
Best regards, blackfriday
  • #65,193
  • Jan 29, 2016 3:07pm Jan 29, 2016 3:07pm
Quoting Fxafrica
i found this article that could help to understand price action... http://www.swing-trade-stocks.com/price-action.html Very very useful Keep moving.
Thx for sharing, very helpful!
Best regards, blackfriday
  • #65,194
  • Edited 4:36pm Jan 29, 2016 3:26pm | Edited 4:36pm
Quoting TheScorpS
EA H1 long and short, + 115 pips {image}
TSS, Love your trades... how often do you check your charts? Every hour? Do you ever loose ;-) ?
Best regards, blackfriday
  • #65,195
  • Jan 29, 2016 5:20pm Jan 29, 2016 5:20pm
Quoting emmanuel7788
{quote} oh no... your day job boss won't like it. please don't tell them that you learn it from me. {image}
Thank you
  • #65,196
  • Edited 6:11pm Jan 29, 2016 5:45pm | Edited 6:11pm
Quoting Fxafrica
i found this article that could help to understand price action... http://www.swing-trade-stocks.com/price-action.html Very very useful Keep moving.
Fxafrica, that's a good link but most of what's in that article isn't useful for FX traders and TMS traders. Here's some links where it relates directly to FX & Price Action and which can be useful for the TMS 5 method. http://2ndskiesforex.com/trade-signa...-price-action/ Also found this to be very useful http://2ndskiesforex.com/trade-signa...-4hr-charts-2/ this is a compliment to the link prior http://2ndskiesforex.com/trade-signa...he-4hr-charts/ and this is one of the most important articles on price action imo, http://2ndskiesforex.com/trade-signa...-price-action/ More to come.....​
  • #65,197
  • Jan 29, 2016 5:54pm Jan 29, 2016 5:54pm
have to say, it is not a simple system. Tyied on H1,H4, Daily TF, some wins. Some loss. Can not make even 60% win.
  • #65,198
  • Jan 29, 2016 6:03pm Jan 29, 2016 6:03pm
Quoting Bushy
Just entered {image}
Thank you Bushy for the chart....I did the same after you posted and make some pips (got out a bit early but better be positive than negative).
  • #65,199
  • Jan 29, 2016 6:06pm Jan 29, 2016 6:06pm
Quoting blackfriday
Trying to get familiar with the 5-method.... last week I had a good week, this week was a bad one. One example AC H1 {image} There was a strong TDI signal, H4 confirming bearish trend, so I went short. Thinking of Big E "When a trade goes against me... I generally exit at 10-15 pips", I set a tight S/L. In hindsight, I have made some mistakes: - I entered too late, not at beginning of candle #2, even more it had been a large candle - my S/L was about 10 pips, much too tight - and I did not follow Big E's saying "If it turns and continues (bounce)...
So trade the 8HR or Daily charts. 8HR charts you only need to look at the chart 3 times a day. Daily once (or more depending on how you like to manage your trades). Here is a chart of the 8HR GBPUSD, notice all the white lines for the trades in the direction of the trend, which in this case Price Action is below the 200MA so we would want to trade the impulsive legs down. These are all profitable trades. You should consider trading the 8HR. It takes patience and discipline, however it may benefit your lifestyle so you don't have to burn your eyes on some computer screen.
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  • #65,200
  • Jan 29, 2016 6:18pm Jan 29, 2016 6:18pm
Quoting tomgu
have to say, it is not a simple system. Tyied on H1,H4, Daily TF, some wins. Some loss. Can not make even 60% win.
What pairs did you trade and at what time? I can tell you that this system can make you a profitable trader once you've worked out certain kinks in the system. Are you trading with trend? Are you placing your stops to tight? Are you just taking every TDI signal? Are you using multiple time frame analysis? Are you bringing your stops to breakeven or leaving them set after a large move up or down? Are you cutting your losses short when a trade is going against you? Lots of variables I just listed but these are all fixable. Maybe you should post a chart of your wins and losses for everyone to help figure out what's wrong.​
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