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Trading Made Simple

  • #66,361
  • Mar 1, 2016 5:59am Mar 1, 2016 5:59am
Quoting tibovwh
{quote} I closed my basket last week. Let's see if we find a better opportunity to start anew. I'm wondering, let's say we get a correction in this WRB. What are the possible ways that will make you start a new basket. What are you looking at exactly? I would expect that we can look for 4H Setups of the WRB high which would be PASR. Then start these trades with low risk and build them for D1 position? Or would you trade this as regular 4H trade and wait till the D1 shows a breakout from the WRB and then start a basket? Best,

I do nothing now and wait till I see a D1 setup as we are in SELL zone.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #66,362
  • Mar 1, 2016 7:29am Mar 1, 2016 7:29am
Quoting antonym
{quote} If I may, can I paraphrase what you're saying: so you mean no countertrend trading and only use divergence signal, and the retrace that often comes after the divergence to place do with-trend type trading?
No CT trading as a novice. Stay with the trend.
If you are good at something, never do it for free--Joker
  • #66,363
  • Mar 1, 2016 7:50am Mar 1, 2016 7:50am
Hi all,

Do you think good setup to short USDCAD?
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  • #66,364
  • Mar 1, 2016 8:11am Mar 1, 2016 8:11am
Quoting emmanuel7788
{quote} Hi kain, WELCOME to this TMS thread. It takes a lot of realtime practice to become proficient. You have a good trade taken. There is Price Action at Support & Resistance PASR and with TMS 5-Method entry . There was consolidation at the BRN .7200 seen with the Wide Range Bar WRB. The price action attempted several times to break in the previous WSRB seen farther left but did not move higher. Feb month high has been set with that double tops last week. With a WRB and that huge beakout Bearish Engulfing Outside Bar to close last Friday,...

thanks for the feedback Emmanuel.



what are your thoughts on this one?

gby/jpy [H4]
h4 double bottom at yesterdays low,
price closing above the 5 ma and 10 ema
good tdi angle
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  • #66,365
  • Mar 1, 2016 8:37am Mar 1, 2016 8:37am
Quoting emmanuel7788
{quote} like Big E did, he open Japanese candles charts along side his TMS trading charts. why did he look at J candles? http://www.forexfactory.com/showthre...74#post4570374 but using Japanese candles has a warning from the man. http://www.forexfactory.com/showthre...04#post4517204
Thanks Em.

The way I read the first linked thread, Big E was referring to the pairs that he trades - which include 2-3 Japanese crosses - and not a comment on APB vs J candles.

I entirely relate to the second link. I like to look at J candles when assenting PA on both W&D charts, and my trading TF (4hr). The APB bars sometimes make it difficult to see where the J candle wicks end.

Thanks as always
  • #66,366
  • Mar 1, 2016 9:15am Mar 1, 2016 9:15am
Quoting kain775
{quote} thanks for the feedback Emmanuel. what are your thoughts on this one? gby/jpy [H4] h4 double bottom at yesterdays low, price closing above the 5 ma and 10 ema good tdi angle {image}
Setup is ok but against the weekly bias
  • #66,367
  • Mar 1, 2016 10:40am Mar 1, 2016 10:40am
Quoting emmanuel7788
{quote} update to the above post: AJ moves lower and yesterdays's high is now this week's high. Taking the average weekly range (52-weeks) of 268pips, we target this 100% of this range would be 78.50. But if we target 60% of this, our target would be 79.60. Keep in mind the two recent swing low to the left which we need to look at the market reaction to the previous 2 weeks low. Not to forget the RN in play. {image}
Hi Emmanuel, thank you for your analysis. Please help me with one thing.... The average weekly range ATR(52 weeks) is the average of the difference between max price and and min price of the last 52 weeks, which is 268 pips. So if I want to look at the 100% target of a week - why not start at the last max price and go 268 pips down? So 100% range would be 79.30 instead of 78.50? Why did you measure from the week opening price and not from the last high?

Sorry if I am asking too much details...
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Best regards, blackfriday
  • #66,368
  • Mar 1, 2016 12:17pm Mar 1, 2016 12:17pm
Today is good day for me But maybe i exited very early, TDI angle is steep

01/03 (H4 only)
AU +5 +20
AJ +50 +95
UJ +50 +85

29/02 (H1-H4)
GA +85 -35
EA +60 +115
EJ +70 +85
GJ -80 -55
Attached Image(s) (click to enlarge)
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  • #66,369
  • Mar 1, 2016 12:47pm Mar 1, 2016 12:47pm
[quote=emmanuel7788;8782593]{quote} what you are seeing is the TDI being refreshed in your history chart and the TDI Green line have been re-painted. This means you do not see the actual TDI Green line angle in realtime if you use the TDI_RT version you will not have this problem because what you see is what you get both in history and in realtime mode.

Hi emmanuel7788
I have added the TDI you mentioned (TDI_RT) but when i scroll forward using F12 i see no difference between the 2 TDI's. I have included a chart with both TDI's the top one is TDI RED Green the bottom is TDI_RT.
Am i doing something wrong?
thanks Next4467
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  • #66,370
  • Mar 1, 2016 1:17pm Mar 1, 2016 1:17pm
USD/JPY has created a decent double bottom on the daily chart. U/J could see a bullish run up to the 116.55 level. I will be keeping an eye on this pair. Wishing everyone green pips.
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  • #66,371
  • Mar 1, 2016 1:18pm Mar 1, 2016 1:18pm
Quoting Next4467
Quoting emmanuel7788
{quote} what you are seeing is the TDI being refreshed in your history chart and the TDI Green line have been re-painted. This means you do not see the actual TDI Green line angle in realtime if you use the TDI_RT version you will not have this problem because what you see is what you get both in history and in realtime mode. Hi emmanuel7788 I have added the TDI you mentioned (TDI_RT) but when i scroll forward using F12 i see no difference between the 2 TDI's. I have included a chart with both TDI's the top one is TDI
...

Hi Next,

you are not wrong becasue what you see in history charts both the TDI Red Green and the TDI RT looks exactly the same. But in relatime market, the TDI Red green will look different.

if you are learning from Big E posted training charts, they are all refreshed charts hence the TDi Red Green charts are all repainted, they do not look the same in realtime live market.

see below my screen capture for the same chart period you posted above.

Attached Image (click to enlarge)
Click to Enlarge Name: TDI compare realtime and repainting.png Size: 59 KB


now you have to decide how you run back-testing and which TDI you will use to formulate your trade entry and exit rules.
it should be very easy to decide.

I don't use the TDI for exit because I like to run my profits. so I use the TDI RT that's real....time.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #66,372
  • Mar 1, 2016 1:31pm Mar 1, 2016 1:31pm
Quoting PipCity6
USD/JPY has created a decent double bottom on the daily chart. U/J could see a bullish run up to the 116.55 level. I will be keeping an eye on this pair. Wishing everyone green pips. {image}



you have BoJ on your side
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #66,373
  • Mar 1, 2016 1:32pm Mar 1, 2016 1:32pm
Quoting makron
Today is good day for me But maybe i exited very early, TDI angle is steep 01/03 (H4 only) AU +5 +20 AJ +50 +95 UJ +50 +85 29/02 (H1-H4) GA +85 -35 EA +60 +115 EJ +70 +85 GJ -80 -55 {image} {image} {image}

very nice. I LIKE

keep it simple the way it is and should be.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #66,374
  • Mar 1, 2016 1:40pm Mar 1, 2016 1:40pm
Quoting blackfriday
{quote} Hi Emmanuel, thank you for your analysis. Please help me with one thing.... The average weekly range ATR(52 weeks) is the average of the difference between max price and and min price of the last 52 weeks, which is 268 pips. So if I want to look at the 100% target of a week - why not start at the last max price and go 268 pips down? So 100% range would be 79.30 instead of 78.50? Why did you measure from the week opening price and not from the last high? Sorry if I am asking too much details... {image}
Hi,

no need to be sorry when you ask questions. I answer everyone and there is no secret.

basically when we develop the 4H swing trading, we are trading the intra-week swings i.e. we look for when the market makes its high or low during the week.

in this case of AJ, we look at Monday open which is this week' open and that first H4 candle high on Monday was use as the first high of this week as it move down.
we do not consider the last swing on the chart because that was last week' swing high.

now we see AJ made a swing low , we assume this is now this week's swing low and would take the 4H swing setup which is now running nicely with target 60% of the weekly average range of 268pips. Look good for now.

this concept is the same for H1 intraday trading taught by Steve Mauro market swings.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #66,375
  • Mar 1, 2016 1:45pm Mar 1, 2016 1:45pm
Quoting kain775
{quote} thanks for the feedback Emmanuel. what are your thoughts on this one? gby/jpy [H4] h4 double bottom at yesterdays low, price closing above the 5 ma and 10 ema good tdi angle {image}


your setup conditions are good and there is PA.
I see you got very good basics and read your chart well. keep it up.
when we look at the price bar Close price and compare them with the previous bar Close price, we will see the price momentum and hence the angle of the TDI is derived from the Close price.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #66,376
  • Mar 1, 2016 2:10pm Mar 1, 2016 2:10pm
nicely done - what support and resistance indicator are you using or are these manually placed?



Quoting makron
Today is good day for me But maybe i exited very early, TDI angle is steep 01/03 (H4 only) AU +5 +20 AJ +50 +95 UJ +50 +85 29/02 (H1-H4) GA +85 -35 EA +60 +115 EJ +70 +85 GJ -80 -55 {image} {image} {image}
  • #66,377
  • Mar 1, 2016 2:11pm Mar 1, 2016 2:11pm
Quoting LazyLobster
Emm - Thanks for your previous and updated posts for me. I am keeping them for study and application. But I do have another question about your charts on the upper chart timeframe bias. Could you expand or provide more examples? What I think I need are examples of when not to trade. Ideas that should give me huge stop signs instead of the golden opportunities that I seem to find on every chart. I am watching 14 currencies and am compiling weekly, daily, and 4hr biases on them to work on the 4hr trading time frame. Yet all 14 seem to be on my watchlist.......

Hi LL,

I have read your doc attachment and I had done something similar years ago. But with more years of experience now, I stopped doing that summary but rely solely on my Big Picture Plan BPP. A lot of my trade planning information are written in the BPP and I only need to refer to one chart template per currency pair.

I now have 16 pairs in my market watchlist having added USDCAD recently. With 16 pairs, there will be enough trade opportunities every week and month for 4H swing and Day position trading. I will do my Big Picture Plan every week for all 16 pairs and from my BPP, I will pick only 5 pairs to trade. I will also have other 2~3 pairs for backup in case any of my picked pairs run into trouble. This is one of my drawdown recovery plan in the event that I have to cut some losses in trades that do not run in my favour.

Picking which pair to trade is another important criteria and this requires us to look at correlated and inversely correlated pairs, the dominant currency pair strength, the influence of the other markets (stock, commodities, futures, etc.). This is not an easy thing when we want to trade short swing and position trading. We need to be very vigilant of what goes on every day in the market place and always ready to take remedy action when we have open positions in the market.

You need to see the correlation in these pairs which I have in my market watchlist and how I grouped them

AUDUSD
EURUSD
GBPUSD
USDCAD

EURAUD
EURNZD
EURCAD
EURGBP
GBPAUD
GBPNZD
GBPCAD

USDJPY
AUDJPY
EURJPY
GBPJPY

I hope to find time and be talk more on recovery trading when I have live trade examples.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #66,378
  • Edited 2:42pm Mar 1, 2016 2:28pm | Edited 2:42pm
Quoting bluemosaic
nicely done - what support and resistance indicator are you using or are these manually placed? {quote}

I don't know what makron uses, but

I use my eyes to see the natural support and resistance, you can see them only when you have clean charts,
- previous swing highs and swing lows where the APB changes colour, take note of the close prices.
- for H4 trading, I look at the previous weeks' Open High Low and Close OHLC,
- the Big Round Number and round number 00 and 50 levels.
- 10, 50 and 200 EMAs beibg dynamic S&R.

support and resistance are not single price line, they are a small price zone or region where price will react to and this is where we will look for TMS 5-Method trade setups. I look for CONFLUENCE of various 'support and resistance', for example if the recent swing high is also near a RN or BRN, 10,50,200EMAs, and /or OHLC.

you are bound to see market reaction at some price levels and there is nothing magical about Pivots, Fibos, Harmonics patterns, astro cycle, etc. so long as you can see Price Action and Momentum in the CONFLUENCE on your charts and you adopt a consistent approach in doing so. All these is less than 10% of technical trading. The other 90% is what we must spend more time into.

Attached Image (click to enlarge)
Click to Enlarge Name: AJ support and resistance.png Size: 76 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #66,379
  • Mar 1, 2016 2:37pm Mar 1, 2016 2:37pm
hello to all congratulations for the great thread, I follow a long but silent, I have been using for some time TMS in a demo account with good results especially on the TF 5 min ....
I have not read many interventions on the use with low TF ... I am perhaps the only one to use it 😇😇?
sorry for my English, Good trading to all
  • #66,380
  • Mar 1, 2016 2:43pm Mar 1, 2016 2:43pm
​Hi guys I have been checking my trading history in the last 3 weeks I've had about 80 trades straight with no loses. Is this just luck or is the market conditions right for my kind of trading? I thinking this is too easy when is it gonna go wrong. I'm not complaining don't misunderstand but it all feels a bit predictable! Is there anyone else who feels like this??
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