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Trading Made Simple

  • #66,881
  • Mar 10, 2016 6:03pm Mar 10, 2016 6:03pm
Quoting teslaYoung
Hi TMS traders, Thank you all for contributing this very beautiful community, I did really learn a lot from you guys. I used to be a newbie (I think I am still are compared with those gurus) and did not know any basics, fundamentals and technical analysis in forex market. After I joined TMS, I can say the information here is overloaded, everyday it took me almost all spare time to read, which has become to my daily routine. TMS leads the correct way of learning forex and provides the clue of how to study. During nearly 4 months learning, I have...
This book is highly recommended:
Quoting emmanuel7788
Here is Trading in the Zone by Mark Douglas. must read chapter 9 and 10 on Beliefs. {image}
  • #66,882
  • Mar 10, 2016 6:30pm Mar 10, 2016 6:30pm
Quoting emmanuel7788
{quote} how is this possible? witchcraft? no, not witchcraft, it is trading with 20:20 vision. never possible without some trickery involved. you want to know the truth? do you really want to know the truth? can you handle the truth?

.........yes pls
  • #66,883
  • Mar 10, 2016 8:21pm Mar 10, 2016 8:21pm
Quoting emmanuel7788
{quote} how is this possible? witchcraft? no, not witchcraft, it is trading with 20:20 vision. never possible without some trickery involved. you want to know the truth? do you really want to know the truth? can you handle the truth?
do I smell a gibril ?
the cautious seldom err....C
  • #66,884
  • Mar 10, 2016 9:46pm Mar 10, 2016 9:46pm
Quoting nijemho
{quote} 20

Please send print screen,

regards, dan
  • #66,885
  • Mar 10, 2016 10:22pm Mar 10, 2016 10:22pm
Quoting emmanuel7788
Two M15 Losses... {image} only two reasons for these two losses. if you know what these two reasons are, you are good.
I guess, 1. its Tokyo closing and the bearish trend established by Tokyo session changed. 2. Franfurt Open changed the course of the trend.

Just my guess, maybe its the timing... I'm excited to know and learn the answer, Master!
  • #66,886
  • Mar 10, 2016 10:45pm Mar 10, 2016 10:45pm
Dear Emmanuel & other seniors who are willing to help ,

pls see the image below. I entered sell on 1 hour time frame. I thought it was a bounce back trade and entered the 2nd candle end .
My yellow line was my stoploss ,
my pink lines is my entry point
my vertical red line is the candle i entered .

I somehow noted these reasons why my stoploss was hit . I wish if someone can add more info why you feel it was wrong entry .

1) i entered at middle of 2nd candle
2) stochastic was at 20 level ( do i need to considier stchastic levels ? as per big E we need to only see the direction from it right ?)

so where did i go wrong in it ?

pls guide . Also I have downloaded stoploss pdf compiled by emmanuel and thank u for that . SO as per your expereicne where is the best place to plae ur stoploss ?

1) previous high or low of 2 candle ?
2) previous swing high or swing low ?
3) 2 times atr ( 10 )

Sorry for the lengthy post .. since am still in learning phase I am troubling all of you .

Thanks to wonderful people here for helping out each other .I will start posting my trades and performance from now ,so that it will be helpful to others also.
Attached Image (click to enlarge)
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  • #66,887
  • Mar 10, 2016 10:57pm Mar 10, 2016 10:57pm
one more loosing trade for analysis . I am not ashamed to share my looses ,it will help others to prevent such mistakes ..... I am here to learn from all u experienced big heart guys

Dear Emmanuel and other friends ,

I have taken one more sell call , in thirty minutes time frame and i lost 12$ ....

I feel the primary reason ofr this trade loss is that the candles were too small .do u ppl see any other mistakes in my entry .

pls advice.

thanks
Attached Image (click to enlarge)
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  • #66,888
  • Mar 10, 2016 11:02pm Mar 10, 2016 11:02pm
This has not been an easy journey, I have followed the TMS method dilligently for months. Took huge losses on my first real day and then I started to claw back......until yesterday.
The genesis was Tuesday, I had done my analysis for the week stuck to all principles and entered the trades only to get stopped out with some losses. Yesterdays losses were more than all my losses put together.

Self reflection weekend loading......

PS: I need to enjoy this, I started off looking to really learn about the financial markets.
  • #66,889
  • Mar 10, 2016 11:28pm Mar 10, 2016 11:28pm
I just started with this strategy this week after failing with the FX Dynamite system, and so far, oh so good

I've only read the original rules from the 1st post, and added an extra check or two to filter out bad trades. Well so far I am 15/16 winners with tight stops for a total of 378 pips this week. My only loss was on EURCHF which would have turned profit if I had a slightly bigger stop.

Maybe its still too early and variance will catch up to me, but I've never felt so confident about my entry points.
  • #66,890
  • Mar 10, 2016 11:34pm Mar 10, 2016 11:34pm
Quoting kinitex
I just started with this strategy this week after failing with the FX Dynamite system, and so far, oh so good I've only read the original rules from the 1st post, and added an extra check or two to filter out bad trades. Well so far I am 15/16 winners with tight stops for a total of 378 pips this week. My only loss was on EURCHF which would have turned profit if I had a slightly bigger stop. Maybe its still...
Hey kinitex, welcome to the thread. Just wondering what are your extra checks to filter out bad trades?
  • #66,891
  • Mar 11, 2016 12:02am Mar 11, 2016 12:02am
Quoting emmanuel7788
{quote} Hi Acana, I got your PM... you have a big event in July so you better spend your time and prepare for that. To learn trade ME/ME, it will take more time and you wont learn it in 3 months. I will show you in the coming months. Meantime, keep doing the Big Picture Plan for those currency pairs and post them when you can. I will reply you when I see your posts. regards,
thanks, i appreciate your help

here another picture,

my plan, W1 bearish, D1 bearish, so wait sell signal on H4
TP on nearest swing point (in this case Daily and weekly have same swing point)
Attached Image (click to enlarge)
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Joining The 10%
  • #66,892
  • Mar 11, 2016 12:24am Mar 11, 2016 12:24am
Quoting AcanaTrader
{quote} thanks, i appreciate your help here another picture, my plan, W1 bearish, D1 bearish, so wait sell signal on H4 TP on nearest swing point (in this case Daily and weekly have same swing point) {image}

nice setup,

I think though that anyone who takes it will have to hold thier trade into the weekend, as the TP will be around 200 pips [or more] for a 1:1

I'm assuming it's ok to hold h4 trades into the weekend?


edit: are you only going for 139 pips?
i see that on your image
  • #66,893
  • Mar 11, 2016 12:30am Mar 11, 2016 12:30am
Quoting emmanuel7788
{quote} Hi, We all look at Risk:Reward or Reward to Risk on a trade by trade basis. This is very common. Start to look at RR from another perspective. read the Tao of Reward and Risk regards,
Hi Emmanuel

I see you have very wide protective stop, how do you decide when to cut loss? Is it the same as entry as well, close position in the 3rd candle that against our direction? or rely on some chart pattern?
  • #66,894
  • Mar 11, 2016 12:34am Mar 11, 2016 12:34am
Quoting dra.forex
one more loosing trade for analysis . I am not ashamed to share my looses ,it will help others to prevent such mistakes ..... I am here to learn from all u experienced big heart guys Dear Emmanuel and other friends , I have taken one more sell call , in thirty minutes time frame and i lost 12$ .... I feel the primary reason ofr this trade loss is that the candles were too small .do u ppl see any other mistakes in my entry . pls advice. thanks {image}

You took trade in Consolidation area.
Too small candles, without mommentum.
  • #66,895
  • Mar 11, 2016 12:35am Mar 11, 2016 12:35am
Quoting AcanaTrader
{quote} thanks, i appreciate your help here another picture, my plan, W1 bearish, D1 bearish, so wait sell signal on H4 TP on nearest swing point (in this case Daily and weekly have same swing point) {image}


wait.

just spotted something. there's a huge h4 WRB/Master candle over shaddowing this trade...................
  • #66,896
  • Mar 11, 2016 12:47am Mar 11, 2016 12:47am
Thanks for the reply trader mt4 . thanks for keeping the thread hopeful and interactive
  • #66,897
  • Mar 11, 2016 12:52am Mar 11, 2016 12:52am
Quoting dra.forex
Thanks for the reply trader mt4 . thanks for keeping the thread hopeful and interactive
We help us together,

dan
  • #66,898
  • Mar 11, 2016 12:55am Mar 11, 2016 12:55am
Quoting kain775
{quote} nice setup, I think though that anyone who takes it will have to hold thier trade into the weekend, as the TP will be around 200 pips [or more] for a 1:1 I'm assuming it's ok to hold h4 trades into the weekend? edit: are you only going for 139 pips? i see that on your image
i think with the way i trade, its not good for holding that open trade for a week, because this style is short term swing
about 139 pips, you see that blue horisontal line? that is swing area 24 march 2015
never use swing as exact point price, because i think its no exact thing about market, so marked swing as area

that 139 pips no related with WRB
Joining The 10%
  • #66,899
  • Mar 11, 2016 1:08am Mar 11, 2016 1:08am
Quoting AcanaTrader
{quote} i think with the way i trade, its not good for holding that open trade for a week, because this style is short term swing about 139 pips, you see that blue horisontal line? that is swing area 24 march 2015 never use swing as exact point price, because i think its no exact thing about market, so marked swing as area that 139 pips no related with WRB
There is a S/R zone at 1.9000 where price has reacted previously. Next area to watch would be 1.8900 which is the bottom of the WRB.
Trade carefully as the market is still in reset mode after yesterday's moves.
Never argue with a fool; onlookers may not be able to tell the difference.
  • #66,900
  • Mar 11, 2016 1:23am Mar 11, 2016 1:23am
Quoting Lookleft
{quote} Thanks for your support TSS. Let's keep the thread how eelfranz would have wished it to go. PS: Keep posting those weekly preview charts, they are a goldmine.
Nigel, your referring to Scorps weekly preview charts, can you point some out pls?
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