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Trading Made Simple

  • #66,581
  • Mar 6, 2016 8:38pm Mar 6, 2016 8:38pm
Quoting mousteven
{quote} Hello Emmanuel: How to really distinguish between my 5 pairs and the backup pairs? or they are just our least favorite pairs? Because when you mentioned "just in case I need to recover some losses", does it mean these pairs are like PLAN B, if the fav 5 pairs (Plan A) go wrong? So, do you suggest for correlated pairs like EJ, GY, AJ , it's best to choose one of them even they are presented with good trading opportunity? By the way, your recommendation reading , Money Management Report (Van Tharp), is good, eye opening for me~ i think i need...

Hi,

Ok, I will keep this beif.

With 16 pairs in my market watchlist, I pick only 5 pairs to trade.
1% to 2% risk per pair, and this will be maximum risk of 10% starting this week.
My target remains the same - i.e. 10% profit per 20 trading days. Last week was an exception I had 36% in 3 trading days. But not every week is like that. I still try and work hard to achieve 10% during the next 20 trading days. I work hard on maintain CONSISTENCY every week and keeping my drawdown low as possible.
You read that Van Tharp pdf and you know what he mentioned about drawdown and how difficult it is to recover from drawdowns.

When I pick the pairs t trade, I distribute them and avoid trading the same pairs which are in the same group.
Look at the currency pair type and their correlation to avoid getting wrong is several correlated pairs in the same week/cycle.
You know about the USD index, study that.


regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #66,582
  • Mar 6, 2016 8:46pm Mar 6, 2016 8:46pm
Quoting emmanuel7788
{quote} You must have lots of years of trading experience . I don't recommend any new traders with little experience to use 2 minutes chart for timing. 3 timeframes is what we need- 1) for Trend 2) for Setups 3) for Timing what can we do if we want to use only 1) and 2) and do not want to use 3) for TIMING?

What is the highest TF for finding the " trend " ?
  • #66,583
  • Mar 6, 2016 10:02pm Mar 6, 2016 10:02pm
Quoting lastingwell
{quote}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. {file} {file}
Thank you lastingwell Great indi's, Great system.
  • #66,584
  • Mar 6, 2016 10:57pm Mar 6, 2016 10:57pm
Quoting Scrambleguy
{quote} Hi Scorps thanks for your explanation. I just came across this post, seems like you have come a long way! Fantastic
Yes came a long way, lol I can laugh at those times, were I in a roller coaster, bet I was , slowly evolving until small pieces picked on each other and build a house from the scratch, you can do it too and every TMS trader can, just needs time and lots lots lots of back-testing
I Have Learned to Take Some Losses to Make Profits
  • #66,585
  • Mar 6, 2016 11:09pm Mar 6, 2016 11:09pm
Trading TMS is a follow trend strategy, but often traders caught in a counter trend entries aka the fakeys TDI trades before trend continuation occurs but without us being in the trade or the trend , this chart by phx62 shows how one when can learn to trade TMS and are able to follow the trend a lot more easier than it looks like
Attached Image (click to enlarge)
Click to Enlarge Name: 2015.3.13.GJ.H1.week.png Size: 99 KB
I Have Learned to Take Some Losses to Make Profits
  • #66,586
  • Mar 7, 2016 12:50am Mar 7, 2016 12:50am
Quoting TheScorpS
Trading TMS is a follow trend strategy, but often traders caught in a counter trend entries aka the fakeys TDI trades before trend continuation occurs but without us being in the trade or the trend , this chart by phx62 shows how one when can learn to trade TMS and are able to follow the trend a lot more easier than it looks like {image}
Wow TSS

After a long time we can see such chart. I am very happy to see this. i think PHX used to post.

Great work, great result of your hard work, dadication. Master of one time frame
Thanks

MK
  • #66,587
  • Mar 7, 2016 1:26am Mar 7, 2016 1:26am
Food for thought:

Attached Image (click to enlarge)
Click to Enlarge Name: fooling people.png Size: 161 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #66,588
  • Mar 7, 2016 1:27am Mar 7, 2016 1:27am
Quoting mkfx
{quote} Wow TSS After a long time we can see such chart. I am very happy to see this. i think PHX used to post. Great work, great result of your hard work, dadication. Master of one time frame Thanks MK

the secret is how to replicate just one trade and the correct use of cavemanager....
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #66,589
  • Mar 7, 2016 1:31am Mar 7, 2016 1:31am
Quoting ClimaxOffset
{quote} What is the highest TF for finding the " trend " ?

the highest TF your broker charting allows.

but you need to decide which TF is your trading chart.

Triple Screen Trading System by Dr Alexander Elder Post#23,973, Post#55200, Post#62,175
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #66,590
  • Mar 7, 2016 1:37am Mar 7, 2016 1:37am
@Emmanuel: Good Morning, I give my best to trade the origin TMS (Daily). Actual i use the WTF for S/L, Trend etc. like everyone. But how would you ore Eric rate the last one ore two candles of the weekly? for Example when the Daily TDI gives a very good long signal and the weekly direction is up but there are one ore two little red candles in weekly. How i handle that?
My other question is, is it possible to use the red slope of the Weekly as indicator for Trenddirection? Ore plays the Weekly-TDI no matter for Dailytrades?

best wishes

Candle
"Repetition is the mother of skill"
  • #66,591
  • Mar 7, 2016 1:41am Mar 7, 2016 1:41am
Quoting TheScorpS
Trading TMS is a follow trend strategy, but often traders caught in a counter trend entries aka the fakeys TDI trades before trend continuation occurs but without us being in the trade or the trend , this chart by phx62 shows how one when can learn to trade TMS and are able to follow the trend a lot more easier than it looks like {image}
Hi TSS,

I like this chart! Thank you for posting~ Do you any idea why phx62 changed his bias to short on Mar 10? Im guessing it could be the daily TDI cross? Or perhaps H4 is making a LL then a LH.

Best Regards
antony
  • #66,592
  • Mar 7, 2016 1:53am Mar 7, 2016 1:53am
Quoting Candle-
@Emmanuel: Good Morning, I give my best to trade the origin TMS (Daily). Actual i use the WTF for S/L, Trend etc. like everyone. But how would you ore Eric rate the last one ore two candles of the weekly? for Example when the Daily TDI gives a very good long signal and the weekly direction is up but there are one ore two little red candles in weekly. How i handle that? My other question is, is it possible to use the red slope of the Weekly as indicator for Trenddirection? Ore plays the Weekly-TDI no matter for Dailytrades? best wishes Candle

Moin moin Candle,

First you need to know Eric's aka Big E trading style on H4. He is a scalper and he traded with high risk of 15% to 30% with an account of USD$10,000.
His close his trade when the market pull back 15 to 20 pips as he often said. he used the TDI Red Green version posted in Post#25. He can use that TDI version in realtime but not in back-testing. He has the skills to pick only the best setups as he said.

I cannot give you a generic answer to your question without seeing a chart. The market condition which I define the market type is important for me when I trade the Day chart. The price action seen on the chart is very important. I do not use the TDI on Weekly and Monthly chart. The TDI is best use on the trading chart to confirm the trade setup and the angle of the TDI Green line is important to confirm the price action and the price momentum.
There agin with so many different version of the TDI posted everywhere, things can be wrong in many instances.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #66,593
  • Mar 7, 2016 2:07am Mar 7, 2016 2:07am
Quoting emmanuel7788
{quote} Moin moin Candle, First you need to know Eric's aka Big E trading style on H4. He is a scalper and he traded with high risk of 15% to 30% with an account of USD$10,000. His close his trade when the market pull back 15 to 20 pips as he often said. he used the TDI Red Green version posted in Post#25. He can use that TDI version in realtime but not in back-testing. He has the skills to pick only the best setups as he said. I cannot give you a generic answer to your question without seeing a chart. The market condition which I define the market...
Thank you Emmanuel. Next time when im confused, i will post my D-Chart.

best wishes
"Repetition is the mother of skill"
  • #66,594
  • Mar 7, 2016 2:10am Mar 7, 2016 2:10am
Quoting antonym
{quote} Hi TSS, I like this chart! Thank you for posting~ Do you any idea why phx62 changed his bias to short on Mar 10? Im guessing it could be the daily TDI cross? Or perhaps H4 is making a LL then a LH. Best Regards antony
I think it was the divergence on H1 , and it was a shift in the trend that he kept on selling the whole week , regards
I Have Learned to Take Some Losses to Make Profits
  • #66,595
  • Mar 7, 2016 2:13am Mar 7, 2016 2:13am
Quoting Candle-
{quote} Thank you Emmanuel. Next time when im confused, i will post my D-Chart. best wishes

@emmanuell: But by the way, why is the Original TDI not for backtesting?
"Repetition is the mother of skill"
  • #66,596
  • Mar 7, 2016 2:27am Mar 7, 2016 2:27am
Quoting Candle-
{quote} @emmanuell: But by the way, why is the Original TDI not for backtesting?

the TDI Red Green repaints when the charts are refreshed.
this means what you see in your history charts are not what it is in realtime.
but the TDI _RT version and the Synergy Pro TDi version bo not have the repainting when chart are refreshed. The TDI condition will be the same both in realtime and in history charts.

But you you want to trade H4 the way Big E described in Post#1, make sure to use the TDI Red Green and do not refresh your cghart when you are trading and have open trades. This is exactly what Big E mentioned in several of his posts. He uses the TDI for his fast exits when price pull backs.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #66,597
  • Mar 7, 2016 2:30am Mar 7, 2016 2:30am
Quoting antonym
{quote} Hi TSS, I like this chart! Thank you for posting~ Do you any idea why phx62 changed his bias to short on Mar 10? Im guessing it could be the daily TDI cross? Or perhaps H4 is making a LL then a LH. Best Regards antony

trading the H1 require more skills in reading Price Action.
X-Man who started the H1 thread said: Price Action is king.
Big E H4 trading - the TDI is king.
For me I have my queen to follow...

Keep trading rules simple, easy to see on our charts and easy to execute.

Attached Image (click to enlarge)
Click to Enlarge Name: H1 trending market type.png Size: 89 KB


Hindsight is 20:20 vision.
But trading requires us to open our third eye.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #66,598
  • Mar 7, 2016 2:35am Mar 7, 2016 2:35am
it is correct or no?
Attached Image (click to enlarge)
Click to Enlarge Name: EURCADH4.png Size: 20 KB
  • #66,599
  • Mar 7, 2016 2:45am Mar 7, 2016 2:45am
Quoting arash1349
it is correct or no? {image}


I see your H4 agrees with W1, it is good.

I am waiting on D1 chart for the breakout of the CONSOLIDATION then I can start my ME/ME.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #66,600
  • Mar 7, 2016 3:14am Mar 7, 2016 3:14am
GBPUSD H1 +30
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 33 KB

EURUSD H1 +25
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot2.png Size: 33 KB

Both taken at LO while Asian overlap existed and before Asia took any profits. Small TP due to Monday (and didn't want to be greedy). Now watching to see how London session develops.
Never argue with a fool; onlookers may not be able to tell the difference.
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