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Trading Made Simple

  • #65,241
  • Jan 31, 2016 6:14am Jan 31, 2016 6:14am
Hi All,

I found this document (TDI trade check) while going through the posts of Big E and his close followers. I found it very very useful.

Hope it helps the new comers.

If you guys have any comments, please add and share.

thank you to all.
Attached File(s)
File Type: xls TDI trade check.xls   229 KB | 735 downloads
FXafrica " it is in giving that you receive..."
  • #65,242
  • Jan 31, 2016 6:59am Jan 31, 2016 6:59am
Quoting Fxafrica
Hi All, I found this document (TDI trade check) while going through the posts of Big E and his close followers. I found it very very useful. Hope it helps the new comers. If you guys have any comments, please add and share. thank you to all. {file}
Nice checklist Fxafrica! Every article I posted is congruent with that list. Check price action context, trend, momentum, volatility, support/resistance, counting candles, candle size, highs and lows,,, etc. this checklist is good.
  • #65,243
  • Jan 31, 2016 7:10am Jan 31, 2016 7:10am
Quoting eelfranz
Stimuls... (674) Trend... long term and short term... I take a chart and make the candles as small as they will go to find the direction of the long term trend... Then I enlarge them to my normal trading size for the current short term trend... If they are the same I feel I have better odds on my side... if they are opposite I may trade less lots per trade... I will pay more attention to the last swing (candle size & length)... That kind of stuff...
This post by Big E is very valuable and all TMS traders new or struggling have to take note of this.
  • #65,244
  • Jan 31, 2016 7:14am Jan 31, 2016 7:14am
Like others, I'm struggling with time frame, 4h or 1h. Daily, to me, who knows not much at all, just seems too risky, with stops that have to be too wide. Even 4hr freaks me out a little. But then maybe 1hr is too short. Could do a custom time of say 2 hr, but that seems wacky. In my case, it's not a matter of not having the time for 1 hr. I just want to pick the best time frame *for me* and, being inexperienced, the only way I can see to figure that out is by trial and error and hopefully not losing too much money.

also: is there a way to search the thread for pdf attachments? i'm like to gather the pertinent files from here. And I'm also looking for a collection of the Big E's posts on the Craig Harris Sto thread, if anyone has it.
  • #65,245
  • Jan 31, 2016 7:28am Jan 31, 2016 7:28am
Quoting Fbps
{quote} I can't seem to get my head to understand the logic behind trading a higher time frame (TF) 4 hrs, Daily charts etc other than it's less noise. For example, a single bar in 4 hrs chart are formed from 4 bars in 1 hr chart. So, would it not be too late to enter on a 4 hrs TF by the time the 4 bars are completed in 1 hr chart? One may also argue that it may be too soon to enter on 1 hr chart since it's too much noise on this TF and hence the TDI may uncross, hook or go flat etc and go opposite direction. TDI may do likewise even if you trade...
I can't argue with what you say, but it's not about logic, it's about psychology mainly.

But with forex it's always about swings and roundabouts and looking at the long term, some trades you might enter on the 1hr will lose because you have the tighter stop, where as on the 4hr they may not, there is no definitive answer, TMS though does try to make it as definitive as possible.

Hope that helps.
  • #65,246
  • Jan 31, 2016 7:57am Jan 31, 2016 7:57am
The thread is on wave 5 or so to speak, Big E started wave 1 RIP, it was then sent into a correction phase, Phx62 sent it into wave 3, until another phase of sadness and a complex correction into the trend of TMS, then Wave 5 started with Emmanuel being on the lead here, and its continuing non stop in an extension wave

Thanks to all that keeps TMS running and live!
I Have Learned to Take Some Losses to Make Profits
  • #65,247
  • Jan 31, 2016 8:16am Jan 31, 2016 8:16am
Quoting floydd
Like others, I'm struggling with time frame, 4h or 1h. Daily, to me, who knows not much at all, just seems too risky, with stops that have to be too wide. Even 4hr freaks me out a little. But then maybe 1hr is too short. Could do a custom time of say 2 hr, but that seems wacky. In my case, it's not a matter of not having the time for 1 hr. I just want to pick the best time frame *for me* and, being inexperienced, the only way I can see to figure that out is by trial and error and hopefully not losing too much money. also: is there a way to search...
Floyd, since you are inexperienced then you should demo trade for a few months on all time frames from H1 to daily. And a 2 hour chart is not wacky at all. Or even an 8 hour chart. Here is an 8 hour chart and a 2 hour chart using TMS.
Attached Image (click to enlarge)
Click to Enlarge Name: image.png Size: 379 KB
  • #65,248
  • Jan 31, 2016 8:17am Jan 31, 2016 8:17am
Attached Image (click to enlarge)
Click to Enlarge Name: image.png Size: 378 KB
  • #65,249
  • Jan 31, 2016 9:09am Jan 31, 2016 9:09am
Quoting Bardy
{image}
So how do I get an 8 hour chart?
  • #65,250
  • Jan 31, 2016 9:14am Jan 31, 2016 9:14am
Quoting floydd
Like others, I'm struggling with time frame, 4h or 1h. Daily, to me, who knows not much at all, just seems too risky, with stops that have to be too wide. Even 4hr freaks me out a little. But then maybe 1hr is too short. Could do a custom time of say 2 hr, but that seems wacky. In my case, it's not a matter of not having the time for 1 hr. I just want to pick the best time frame *for me* and, being inexperienced, the only way I can see to figure that out is by trial and error and hopefully not losing too much money. also: is there a way to search...
I'm a newbie too and having the same thoughts right now (see my post two pages back)... During the last weeks, I switched a lot between time frames (1h, 4h, even 30m), looking for possible entries whenever I could spare time from my day job. As a result, I gained losses (fortunately on demo). So I sat down this weekend and analyzed what I had done. Mostly my entries have been too late (end of candle 2 or already candle 3, because I couldn't go to the screen each full hour), the S/L has been much too tight (10...20 pips), I had ignored the trend direction on higher tf, or candle size was bad. So only very few of my trades have been according to Big E's rules, moreover, I would have made a lot of pips instead of losses if I would have obeyed the rules.

My good resolutions for next week:

- Only one timeframe, 4H. This will give me more time to think and reduce the time pressure (I hope...)
- follow all the rules (the checklist fxafrica posted seems to be very good)
- S/L low/high two bars back, max. 50 pips.

To me, 4H seems to be a good compromise between risk and less time pressure. 50 pips S/L looks much to me, but I lost a lot of trades due to tight S/L. I remember Dr. Elders recommendation of a factor of about 5 between time frames, so 4H seems to fit very well to D1 / W1.
Best regards, blackfriday
  • #65,251
  • Jan 31, 2016 9:16am Jan 31, 2016 9:16am
Quoting Next4467
{quote} So how do I get an 8 hour chart?

click on chart
right mouse click -- timeframes -- hours -- 8 hours
Best regards, blackfriday
  • #65,252
  • Jan 31, 2016 9:25am Jan 31, 2016 9:25am
Quoting Fbps
{quote} I can't seem to get my head to understand the logic behind trading a higher time frame (TF) 4 hrs, Daily charts etc other than it's less noise. For example, a single bar in 4 hrs chart are formed from 4 bars in 1 hr chart. So, would it not be too late to enter on a 4 hrs TF by the time the 4 bars are completed in 1 hr chart? One may also argue that it may be too soon to enter on 1 hr chart since it's too much noise on this TF and hence the TDI may uncross, hook or go flat etc and go opposite direction. TDI may do likewise even if you trade...

Have just had a good read through the PDF, all the answers are there.
  • #65,253
  • Jan 31, 2016 9:53am Jan 31, 2016 9:53am
Hi all,

Here is a training chart using 5 method in 4hr chart trading. The red, yellow and green vertical lines are HTF trend trades entries ABP/HA candles. The light blue and blue vertical lines is CT trades entries ABP/HA candles. The white vertical lines are start of the week candles. The white horizontal dots lines is where i would put SL and if RN is near i would like to be behind that. if we see small candles after entering we want to move SL to BE ASAP to protect our money.

red=signal, yellow=signal/entry, green=safe entry
enter on the start of entry candles or end of signal candles the risk is for you to decide in live trading.

If we just take HTF trend trades we will be safe most of the time, even if our SL is big (100+ pips) we will be able to move our SL to BE few candles after entry. you can TP at 1:1+ R:R, but you should always move SL to BE or lock in profit as soon as possible (this should be practice too).

New traders should not be taking CT trades, it's not worth the risk if we are not familiar with PA.
look for a new pairs if we don't want to trade CT, keep your plan simple and look for the next setups or move on.

Always demo this method first before going live and when we're ready to trade live always test with minimal lots the broker offer us, below 1% of our account if you must. We need more experience before exposing more of our capitals in a trade. focus, study hard, back test and live test, and soon you'll take trades like it's your second nature.

Don't rush the learning process, time will reward you with confidence which in turn reward you with loads of pips.
Attached Image (click to enlarge)
Click to Enlarge Name: 5 method 4hr training chart 2016.PNG Size: 125 KB
  • #65,254
  • Jan 31, 2016 10:25am Jan 31, 2016 10:25am
Quoting blackfriday
{quote} click on chart right mouse click -- timeframes -- hours -- 8 hours
Thanks but that doesn't work for MT4.
  • #65,255
  • Jan 31, 2016 11:06am Jan 31, 2016 11:06am
meihk: according to my reading of the Big E's past posts, he would recommend a beginner not take the signal from the first two yellow vertical lines, since the body of the HA candle is too small and the upper/lower wicks imply indecision. right? third yellow line looks good. ditto the forth. as to the fifth, wouldn't he say that signal candle is too small to be meaningful? in hindsight, sure, looks good; but in real time? 6th, good.
at the 7th, the red line that comes first has too much wick on either side to be considered a signal line, right?
wouldn't E frown on so many third candle entries?
assuming i'm reading things right, this is why, for a beginner, it seems so hard to stick with big e's words. the better you get, the more flexible you can get, i suppose, but when you're just starting out, all these little changes throw a lot of doubt into one's ability to stick to the plan as originally written. at least it does mine.
am i totally off base here?
  • #65,256
  • Jan 31, 2016 11:42am Jan 31, 2016 11:42am
floydd: no, no, you are not off base, these are my problems, too.... I have studied Big E's and other training charts over and over, but it's different from actual trading, from taking every thing into account and making the correct decision at the right side of the chart

meihk: thx for the training chart. Why do you consider the second and the third pair of blue lines as CT? The slope of MBL and red TDI is positive and your support line, too
Best regards, blackfriday
  • #65,257
  • Jan 31, 2016 11:46am Jan 31, 2016 11:46am
Quoting floydd
meihk: according to my reading of the Big E's past posts, he would recommend a beginner not take the signal from the first two yellow vertical lines, since the body of the HA candle is too small and the upper/lower wicks imply indecision. right? third yellow line looks good. ditto the forth. as to the fifth, wouldn't he say that signal candle is too small to be meaningful? in hindsight, sure, looks good; but in real time? 6th, good. at the 7th, the red line that comes first has too much wick on either side to be considered a signal line, right?...
Floyd, just stick to Big E's method then. However meihk is very correct that anyone not familiar with price action should avoid counter trend trades. Even preached by Eelfranz himself. I believe Emmanuel made a good point that beginners should first familiarize themselves with Big E's 5 method and then make the necessary changes needed for your trading style as you progress. Meihk's post is well written and his chart is very good pointing out all the price action occurring like the lower highs/lower lows that become higher highs/higher lows. His risk management strategy is well planned also. If you become comfortable one day you may trade this very way.
  • #65,258
  • Jan 31, 2016 11:55am Jan 31, 2016 11:55am
Quoting Next4467
{quote} Thanks but that doesn't work for MT4.
I wish I could help you but I don't even use MT4. I use my brokers platform which has the 8 hour chart. But I'm positive there is a way to get 8 hour charts on MT4.
  • #65,259
  • Jan 31, 2016 3:17pm Jan 31, 2016 3:17pm
Quoting Next4467
{quote} Thanks but that doesn't work for MT4.

https://www.forex4noobs.com/forex-bl...-frame-in-mt4/

  • #65,260
  • Jan 31, 2016 3:18pm Jan 31, 2016 3:18pm
Quoting Bardy
{quote} I wish I could help you but I don't even use MT4. I use my brokers platform which has the 8 hour chart. But I'm positive there is a way to get 8 hour charts on MT4.
You can't really do 8hr charts on MT4, but MT5 has many more TF's, I'm pretty sure that'll include 8hr.
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