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Trading Made Simple

  • #65,721
  • Feb 12, 2016 1:58pm Feb 12, 2016 1:58pm
Quoting pulubi28
Currently studying this: Phx62 book {image} My trades for the week: will post the charts tomorrow. I am just so happy with my week's results by following the simple rules of Big E. GbpCad trade was opened by my toddler. Did not know he messed up with my phone earlier until I checked the charts on my laptop. {image}
Hey that's fantastic! I'm still trying to get a good grasp of the basics. Have you downloaded anything else besides the Synergy package and following the 5-method basics?

Thanks!
  • #65,722
  • Feb 12, 2016 4:50pm Feb 12, 2016 4:50pm
Quoting TheScorpS
{quote} Took me more than a day to get back to you, sorry for that , the way I trade is not holy grail nor magic, its what I have been trying to achieve for the last 3 years, learning and trading TMS, I read Big E book, and then studied extensively and still do Phx62 books, those helped me a lot, while back-testing on a daily basis and still do I follow the same principle that Big E posted in the first page, and try to make it simple with a proven trading plan that has more obviously a bit more detials to it Basically a candle changes color and...
Thank you TheScorpS for your 1 hour method(very simple & easy to understand). And also thanks for Phx62 study books(I will have something to read about 450 pages)

Best regards
  • #65,723
  • Feb 12, 2016 4:55pm Feb 12, 2016 4:55pm
Quoting emmanuel7788
Closing some trades before NY session opens. Have been a very good week with market volatility and some pairs trending very strong so we took advantage of this. Week 02 to 06 ( Jan 11 to Feb 12) Winning trades : 252 Losing trades : 32 Total Win pips : 31,189 pips Average Win Pips : 124 pips Average Win Amount: $278.00 Average Lot Size : 0.39 std. Average duration of trade : 4Days 20Hours {image} last week results: http://www.forexfactory.com/showthre...35#post8736335
Great trader I wish I can have these results one day(I wish but I will try my best)
  • #65,724
  • Edited 9:15pm Feb 12, 2016 8:11pm | Edited 9:15pm
Mastering TMS alone is not enough to be a successful profitable trader.
TMS is nothing more than just a simple trend trading method know as the 5-Method.
You also need to master money management and managing your mental fitness to achieve and maintain consistent profitability over a long term.


Attached Image (click to enlarge)
Click to Enlarge Name: Trading Trilogy.png Size: 137 KB


To achieve Peak Performance, we must work on and master the MindSet part.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #65,725
  • Feb 12, 2016 8:19pm Feb 12, 2016 8:19pm
Quoting fcardoso
Hi guys, I was just thinking it would be great if there was an indicator for MT4 that gives you a list of symbols with a recent intersection of the green and red line of the TDI, according to the timeframe. Does this indicators exists? (I'm a software developer, but I know nothing about MT programming) Regards

here,

http://www.forexfactory.com/showthread.php?t=303347

it even better, it's an EA expert advisor and you can do a lot more with expert advisor than an indicator.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #65,726
  • Feb 12, 2016 8:24pm Feb 12, 2016 8:24pm
Quoting blackfriday
{quote} Hi Tibo, I am working on a simple risk tool and an EA for ME/ME (I am on MT5 platform). Some ideas to share: integrated in my "Pipsometer" is a simple lot and risk calculation: before taking a trade it shows the lot size for a certain risk (eg 2%) based on your account equity, value per pip and ATR; after entering the trade it shows the risk% based on av. entry price and the actual set SL, see below screenshots. So if you move your SL (by hand or trailing), you always know your risk. To me as a newbie to forex its very comfortable and helpful...

perhaps 3 of us, with you, tibovwh and myself can now form a development group and start work on this TMS ME/ME trade manager....

what do you think?

anyone else who can contribute and can commit time to this?
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #65,727
  • Feb 12, 2016 8:33pm Feb 12, 2016 8:33pm
Quoting pete.alfa
{quote} Thank you TheScorpS for your 1 hour method(very simple & easy to understand). And also thanks for Phx62 study books(I will have something to read about 450 pages) Best regards

spending too much time into those pdfs won't make you successful.
better spend your time in forward testing in live market everyday with a demo account.
your will learn more doing forward testing,
you will learn to observe how the market move ... price action in realtime,
you will learn to observe how the TDI reacts to the real price action in realtime,
you will learn about yourself and how you will manage your trading psychology when you are trading live and reacting to the market movements,
you will learn and apply your money management strategy in realtime live market,
you will learn how the market reacts before and after crucial news/data release,

*** most important is to have a trading plan ready at hand and have in your trading plan those H1 setup conditions which you want to look for and to trade,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #65,728
  • Feb 12, 2016 8:42pm Feb 12, 2016 8:42pm
Quoting tibovwh
{quote} Hey Emmanuel, great results! This Avg lot size of 0.39 lot this is per 0.02% lot?

Hi,

Average figures are not useful without knowing the detail analysis of the system performance.

Using risk 1% divide into 5 trades 0.2% each to build a position is correct. BUiLD phase.

For example,
My best performing pair this week is USDJPY ... it is in RUN phase.
The average trade size is 2.5 standard lot. The total number of lots traded this week is 37.5 standard lots with average win 70 pips.


Do you know Big E's money management? he shared very little in both threads.

But read his post#557 in response to that MM question asked.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #65,729
  • Feb 12, 2016 8:58pm Feb 12, 2016 8:58pm
Quoting dennis4u15
Hi Emmanuel I am also using the TMS 5 method using the Daily time frame. U/J was good to trade. I was a bit late in exiting as I was just watching the daily time frame. Just wanted to know if u also look at the 4hr time frame to exit positions when trading on dailies as the 4hr on U/J was showing consolidation hence would have been a good time to exit. I did leave around 70 or 80 pips as I just looked at the daily time frame. I am also looking at the bigger picture by looking at S&R and swing highs and lows on Weekly and monthly time frames. I am...

Hi Dennis,

Basic rule for trade management is : when you trade D1 chart timeframe, you manage only in that chart timeframe. Do not manage in lower timeframe.

Another rule is to add positions only with banked in profits from earlier positions. Make your money work for you. The money you make in the market is your money, it is not 'house money' which only gamblers think. Think like an investor , trade like an investor.
Add positions when the dominant trend in which you are trending is still intact and that last setup is still valid. There must not be any invalidation of that last trade setup. Always use 3 timeframes top down analysis for your Big Picture Planning. It is not simply APB candles and colour. Look at the real price bars or Japanese candles, these are real price not the APB candles. The APB has its good use for decision making but do not ignore the real price because they tell the full story what goes on in the market place.

In that UJ example, the previous day Thursday close with huge pullback and we see that in the lower wick of that price bar/Jap candle. Becasue of that D1 pullback, I had to look at H4 to see the market condition and that is when I saw that big H4 candle WRB which to me means consolidation. There is support and that BRN 111.00. Big E taught us to look for consolidation in his Post#647.... then make the next trade decision.

Next week, be very careful when China markets re-open. Look for the gaps.

Have a Good Weekend.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #65,730
  • Feb 12, 2016 9:07pm Feb 12, 2016 9:07pm
Quoting mkfx
{quote} Thanks Emmanuel for guidance. After analyzing TMS, i realized that ME/ME with solid MM is the best way to trade FX with less stress. I want to have clear (as much as possible ) rule ( TDI Cross or ABP color or angle of TDI) to determine the direction trend based on HTF . What is your opinion about trade ( M entry) in the direction of color of Weekly ABP candle ? Thanks MK

Hi,

Trading with small risk means using Multiple Entries / Multiple Exits is disciplined money management. You need to know When to Plan, When to Build and When to Run.

Attached Image (click to enlarge)
Click to Enlarge Name: Market Trend MEME PLAN BUILD RUN.jpg Size: 51 KB



You must not simply follow the Weekly candle. You need to do your top down analysis and look at the market conditions and determine the market type you are in before deciding on 4H swing trading.

Go back and read my post on EURUSD. http://www.forexfactory.com/showthre...76#post8738276

What is the market type? What happen when you follow the Weekly candle?

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #65,731
  • Feb 12, 2016 9:22pm Feb 12, 2016 9:22pm
​Thanks Emmanuel
  • #65,732
  • Feb 12, 2016 9:39pm Feb 12, 2016 9:39pm
Quoting maindfriik
{quote} Because it is a sell order, it will always be red colored. Buy orders are green.
am i way mistaking...! or our mt4 s are so different !?
because as far as i knw that colors depend on tp/stop not buy/sell and for me tp s are always blue and stops red no matter its a buy or a sell !
anyway...
:- )
  • #65,733
  • Feb 12, 2016 9:50pm Feb 12, 2016 9:50pm
Now I know and understand why many TMS ELDERS has left this beautiful thread.
  • #65,734
  • Feb 12, 2016 11:46pm Feb 12, 2016 11:46pm
Quoting pulubi28
Now I know and understand why many TMS ELDERS has left this beautiful thread.
Yes , I arrived when they were about to leave, it has been a living Eden, then came the time that they had to leave, it was a golden era
I Have Learned to Take Some Losses to Make Profits
  • #65,735
  • Feb 13, 2016 4:10am Feb 13, 2016 4:10am
Looking to learn from you guys. I enjoyed reading few pages in here.
  • #65,736
  • Feb 13, 2016 4:31am Feb 13, 2016 4:31am
Quoting pulubi28
Now I know and understand why many TMS ELDERS has left this beautiful thread.
There is only so much bullsh*t one can stand! But hey, this thread keeps the people that know the truth amused .
Ardua Ad Astra Per
  • #65,737
  • Feb 13, 2016 5:17am Feb 13, 2016 5:17am
Time for some weekend reading

I wanted to share this post from Big E, posted in the Craig Harris Stochastic's thread (where it all started) back in 2009.

http://www.forexfactory.com/showthread.php?t=211188

These pointers really apply to any trading strategy, but their application turned my TMS education around and gave my learning some structure. Keep things a simple as possible while you're learning... you can add multiple pair correlation, HTF analysis and all the rest of it, once you've grasped the basics.

Have a good weekend all!

Ballistical





"Thanks Jaz. I just received this email from a full time trading associate which contains solid information about trading. I personally believe it applies to all time frames. CONSIDER HIS MESSAGE:

Hi Eric,

I have been trading for 7 years now so I have learnt a thing or two about this business. I can't tell you what others did early on to become successful traders but I can tell you what I did. So here are the crucial steps I took that made me a profitable trader:


1. I Picked A Timeframe

The first step was to pick a single time frame. By this time, I had been trading Forex for about 6 months so I knew my way around the markets. I quickly learned that smaller time frame charts are hard to analyse because they are erratic and prone to random movements.

I decided to jump up to the 4 hour charts and I haven't looked back since. I strongly believe that every trader should trade on hourly charts or above.

The point is not so much what timeframe I traded it's the fact that I picked a single time frame, and stuck to it. To me it was all about simplifying trading so I could more efficiently learn to trade.

So looking at a single timeframe had several benefits:

1. Allowed me to concentrate on learning one time frame, therefore removing a lot of the confusion you can have when juggling multiple time frames.
2. Gave me less charts to look at and allowed me to concentrate more on analysing a single currency pair.
3. Stopped me from over analysing my pair. Looking at too many time frames gave me conflicting signals.

Overall having a single time frame keeps it simple.


2. I Picked a Pair

This was exactly the same concept as picking a single timeframe. It just simplified my trading concentrating only on a single pair. When you're a professional trader making tons of profit you can trade as many pairs as you want. However as you're learning it's best to concentrate on one pair. Here's why:

1. Each Pair is Unique: Trading a single pair allows you to learn how that pair breaths. You will know a lot about a single pair instead of knowing a little about 5 pairs.
2. Speeds up Learning: Trading a single pair with a single time frame gives you only 1 chart to look at. This allows you to concentrate all your analysis on a single pair.

The idea behind picking a single pair to trade is a simple one. It is all about simplifying trading so you can learn to become a consistently profitable trader.


3. I Set My Targets

This was absolutely essential. I do not mean I set my targets on a per trade basis. I mean I set myself weekly and monthly targets. I have discussed in this previous article how important discipline is. As a newbie, what I needed above all else was discipline and the way I became disciplined was by setting targets.

I looked at my method and I decided it was capable of generating around 50-70 pips per trade, giving me on average two trades per week. So I set my weekly pip goal to 100 pips. When I meet my goal I stopped trading for the week.

Why was this so important?

It was important because

1. It gave my trading structure and allowed me to plan ahead, long term.
2. It gave me a goal to aim for instead of trading aimlessly.

That's not all it did though. I fought against the biggest psychological pitfalls, which I discussed previously in this article, such as the tendency to overtrade and being undisciplined.

The urge to overtrade is one of the biggest problems a newbie trader faces. If you have a set target once you reach it you can relax, and take it easy for the rest of the week. It removes that pressure traders usually have to make more and more pips. It also keeps you disciplined because it gives you a structured plan that you can stick to.


Summary

If you follow these 3 steps I can guarantee you that your trading will improve immensely. It will take time but if you can stick to it you will begin to notice improvements. If you want to succeed you need to simplify your trading and you need to become disciplined. Chaos and complexity will get you nowhere.

Thanks,
Nick B
Founder & boss of Forex4Noobs

It's good advice. Big E"
Focus on the process and the profits will follow
  • #65,738
  • Feb 13, 2016 7:05am Feb 13, 2016 7:05am
Quoting emmanuel7788
{quote} perhaps 3 of us, with you, tibovwh and myself can now form a development group and start work on this TMS ME/ME trade manager.... what do you think? anyone else who can contribute and can commit time to this?
Great work, Jo. I do the same calculation in an excel file I have lying around. But an EA can certainly make this easier. About the %-at-risk part: Wouldn't it perhaps be a better approach to draw a line where the 2%-risk is at? i.e. in Emmanuel's trade management there is a hard-SL and there is a 'hidden'-SL that cuts losses.

My ultimate goal is to code a trade manager to manage my trades during the day so I can look at my charts only 1 or 2 hours a day and make decisions. But I guess this is some time away.

I would be interested in helping out where I can. There is a couple of issues, however. First, I don't personally trade on an MT platform. The coding language is somewhat basic unfortunatly and I have been contemplating moving to MT4/5. I have no experience with coding in MT4/5 but I could learn.


Lastly, I feel like there is some tension in this thread. Everyone is trading with the basic TMS-5 system but people have moulded this into their own way of trading. Some people have voiced their concern that they want the thread to go back to original method like Eelfranz traded it. I certainly understand their concerns. The different "styles" can complicate the learning process of newer people coming into the thread. There is so much material present in this thread and a lot of it is very dispersed. But on the other hand, it seems to be somewhat unneccesary to me to split up this thread in different threads covering Intraday, Swing and Position trading. I think Emmanuel has already pointed out that he has no interest in opening new threads. I hope we can contintue to learn from eachother in this thread. Maybe we should try to structure our posts a bit better and make clear what type of trade we took, stuff like that..

My weeks results:
Couple of SE 4H trades (scalps). Big mistake on the GBPJPY trade. I miscalculated something! This is stuff that can't happen. And wasn't a great trade eighter in hindsight. €44 = 1% return

I have 2 ME/ME trades running for next week.

Have a great weekend all
Attached Image (click to enlarge)
Click to Enlarge Name: Schermafdruk 2016-02-13 14.01.40.png Size: 64 KB
  • #65,739
  • Feb 13, 2016 7:08am Feb 13, 2016 7:08am
Also: Here's the excel sheet I was talking about. I use to to calculate position sizes. Feel free to have a look and if you spot room for improvement, be sure to let me know! Unfortunatly, it is in €, but the idea stays the same!

Best,
Attached File(s)
File Type: xlsx Risk management.xlsx   23 KB | 658 downloads
  • #65,740
  • Feb 13, 2016 7:23am Feb 13, 2016 7:23am
Quoting Ballistical
Time for some weekend reading I wanted to share this post from Big E, posted in the Craig Harris Stochastic's thread (where it all started) back in 2009. http://www.forexfactory.com/showthread.php?t=211188 These pointers really apply to any trading strategy, but their application turned my TMS education around and gave my learning some structure. Keep things a simple as possible while you're learning... you can add multiple pair correlation, HTF analysis and all the rest of it, once you've grasped the basics. Have a good weekend all!...
Aah I remember reading this a while back and I also found it a great post. Especially the third part about objectives! Thanks for sharing this again.

"If you don't know where you are going then you will be distracted by every obstacle that comes along your path"
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