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Trading Made Simple

  • #67,221
  • Mar 19, 2016 7:12am Mar 19, 2016 7:12am
Quoting emmanuel7788
{quote} very good attempt using my AJ trade, but does not answer that question .
I know that you, Emmanuel, don t exit the trade unless it is invalidated on the D1 tf. If price closses below 5ema and you have a cross down on daily, that is whn you exit the long position you re in.Or the esception you re talking about is: exiting when you re BPP target / emergency sl is hit.
focus, manage risk, rinse, repeat
  • #67,222
  • Mar 19, 2016 7:17am Mar 19, 2016 7:17am
Quoting pips29
{quote} Imho, I think you got lucky this time..The trend was clearly down and your first entry was more of an impulse entry as I believe you entered when price moved above the 10 ema and price closed as a doji below the 10 ema soon after. The next candle was a hammer and you took your second entry on the next candle as soon as price went above the 10 ema and it would be very near the time candle opened..In both cases I noticed the green tdi had not crossed the red and you were maybe 10 pips or so from being stopped out. I do know we need a bit of...
I didnt want to go in details about this trade, I was following Elliot Wave theory on this particular one, I dont know how that would help if I got stopped out and post the trade , PA hadn't violated last low, which convergence with wave 1 or A on EW theory, I was in a leading correction wave and I expected that to take time before an eventual breakout to the upside not to the downside , so I was confident enough about this trade with other helps from our favorite indicator TDI
I Have Learned to Take Some Losses to Make Profits
  • #67,223
  • Mar 19, 2016 7:18am Mar 19, 2016 7:18am
Quoting makron
My first 3 weeks with TMS. For my persom its very good results, i never have such curve But i believe, this weeks i was very lucky. Need much time to have consisteence. But i learnt one lesson, one of the most important. I stopped search holy grail througt millions FF systems. I stay here. Thanks Emmanuele and other mentors! Your results make me learn and go forward. Keep going {image}

Hi makron

Welldone! very good trading results.
Thank you for sharing this which is an encouragement to others to start believing TMS is a trading method which work.

Your recovery from those losing trades were very quick and your drawdown period were short.
Just repeat what you did the past week and you will do great.
You must remain focus and not let any distraction come in your way.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #67,224
  • Mar 19, 2016 7:36am Mar 19, 2016 7:36am
Quoting blackfriday
{quote} Let me try.... I can imagine two reasons for changing the timeframe of an open trade 1. already been said: if you are trading in a WRB. Eg you enter on H4, after that a WRB develops, so I would change to a lower TF, eg. H1 to determine my exit, see EURCAD chart. You can't trade in H4 anyway. Unfortunately my example is from last week {image} {image} 2. if my trade is in loss, I can cut loss and close the position completely. To do this, I can look for a dip/retracement on a lower TF. So my exit will be on a lower TF

good attempt but does not answer that question on Entry and Exit.
but you are right about the WRB trading rule and how we trade after a WRB.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #67,225
  • Mar 19, 2016 9:10am Mar 19, 2016 9:10am
Quoting TheScorpS
{quote} I didnt want to go in details about this trade, I was following Elliot Wave theory on this particular one, I dont know how that would help if I got stopped out and post the trade , PA hadn't violated last low, which convergence with wave 1 or A on EW theory, I was in a leading correction wave and I expected that to take time before an eventual breakout to the upside not to the downside , so I was confident enough about this trade with other helps from our favorite indicator TDI
I just couldn't see why you were so confident that you took another entry for I am not able to find an entry using TMS until perhaps much later at the candle where Emm. pointed out..I wouldn't even take that set up as the previous high was still intact and the 200 ema was just close by..We trade differently but the trades you took this time round was a bit unusual to me and as concerned the stop out, I wouldn't post the trades if that happened because they were not TMS trades and here you and so many others were talking about keeping it simple. I know nothing about EW theory but now that you told me you took the trades based on this, it's all good with me. I mean no harm or any ill feeling but I notice that once you question the trades of others they get offended.. I truly hope you are not, bro.
the cautious seldom err....C
  • #67,226
  • Mar 19, 2016 11:01am Mar 19, 2016 11:01am
Quoting pips29
{quote} I just couldn't see why you were so confident that you took another entry for I am not able to find an entry using TMS until perhaps much later at the candle where Emm. pointed out..I wouldn't even take that set up as the previous high was still intact and the 200 ema was just close by..We trade differently but the trades you took this time round was a bit unusual to me and as concerned the stop out, I wouldn't post the trades if that happened because they were not TMS trades and here you and so many others were talking about keeping it...
Too early entry was taken from M5 at LO opens, as am still refining my plan , let alone take entries on the exact condition as what the plan says, which is not easy for me at the time being, so I think I would still be in the ups and downs of plan development, execution phase , I expect that to take a lot longer then I hope is, but a progress in the right direction so to speak

Hope this week yields better entries , thanks for your concern
I Have Learned to Take Some Losses to Make Profits
  • #67,227
  • Mar 19, 2016 11:03am Mar 19, 2016 11:03am
Quoting emmanuel7788
{quote} There are difference Exit Strategies. When our trade setup entry is based on setup candle to close above the 5EMA and TDI cross up, then a trade invalidation should be the opposite technical condition i,e the exit candle mus be one which close across below the EMA and the TDI cross down in the opposite direction of the entry. When Big E exit his trade using TDI going flat, hook backwards, etc.. this is not trade setup invalidation. His TDI exit is to protect his money. You will find may of TDI exit will eventually run in the direction of...
2 thumbs up Emmanule on this post regarding exit based on TMS
I Have Learned to Take Some Losses to Make Profits
  • #67,228
  • Edited 3:39pm Mar 19, 2016 3:23pm | Edited 3:39pm
Quoting Downunder
{quote} Hi emmanuel, interesting question.. ill have a shot in dark.. Using GBPUSD H4 this week as example, here i go... Trade not invalid after TDI cross due to support level (lower level of master candle) and 5EMS. Price would need to close below both to make trade invalid (TDI may then show a bounce sell set up) Cheers Downunder {image}

Quoting MDTrader
{quote} Maybe the exception is when on a higher timeframe we just got a setup in the same direction as our current position? For example on H4 we have TDI cross down: {image} But on D1 we just had a buy setup: {image}
Hi Downunder & MDTrader,



Your answers are the closest and you understood that question and posted charts along with your replies. And MDTrader you are absolutely right about converting a H4 swing trade to D1 Position trade. Your 'third eye' is open. This is what I look for in my Big Picture Planning and make my weekly trade plan.

But this is not the 'correct' answer when we have done our top down analysis and have use the multi-timeframe approach.
Using the MTF trading approach, we approach the market by looking at 3 timeframes and look for conflicts in the timeframes.
In this example, we talk about TMS H4 entry and exit only but when we consider the MTF approach,
the Weekly is to determine the TREND or when the market is sideways ranging, we use this weekly as the Bias direction.
the Daily is the SETUP timeframe where we look to the trade setups, PA+SR&+TMS
the H4 is the timeframe for TIMING our entry, some call this fine-tuning our entry.

I appreciate your keen interest and participation in attempting the question and provided the best answers shared here and help others learn. Your answers did show that you possess very strong fundamentals in trading and have that 'third eye'. I think you both will make a good trading team together with a few others. I'll PM you next week with more details.

Moreover, both of you picked a very good pair for next week's trading. If you look back to the previous 2 weeks where I posted on GBPUSD, the buying opportunity is still there and we may potentially see GU going into a RUN phase. There is nearby term resistance ~1.46 seen to the left of your Day chart. So we need to mitigate this. Do your BPP and be ready to make some money to grow your trading account with OPM.

I got to go now as today' workshop session will start in about 2 hours and I wont be available till after 3pm Sydney time.

Thank you guys.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #67,229
  • Mar 19, 2016 3:30pm Mar 19, 2016 3:30pm
Quoting TheScorpS
{quote} 2 thumbs up Emmanule on this post regarding exit based on TMS

Hi TSS,

I think you know by now why Big E changed his exit using TDI and not with the APB/HA across the 5EMA.

http://www.forexfactory.com/showthre...57#post8824057

http://www.forexfactory.com/showthre...34#post4580234

Anyway, in today workshop, we will be covering thes Exit Strategies :

Types of exits:
1) Static Exit when SL and/or TP(s) hit.
2) Adaptive Exit when Percentage of ATR reached, R-Multiple reached, etc.
3) Trade Invalidation Exit.
4) Timed Exit, when the trade has exceeded its predetermine duration, no matter the trade result.
5) Psychological Exit.... mental exhaustion of the trader.


regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #67,230
  • Mar 19, 2016 10:58pm Mar 19, 2016 10:58pm
Quoting emmanuel7788
{quote} Hi TSS, I think you know by now why Big E changed his exit using TDI and not with the APB/HA across the 5EMA. http://www.forexfactory.com/showthre...57#post8824057 http://www.forexfactory.com/showthre...34#post4580234 Anyway, in today workshop, we will be covering thes Exit Strategies : Types of exits: 1) Static Exit when SL and/or TP(s) hit. 2) Adaptive Exit when Percentage of ATR reached, R-Multiple reached, etc. 3) Trade Invalidation Exit. 4) Timed Exit, when the trade has exceeded its predetermine...
Hi Emm

How do you conduct the workshop? Online or on site?
How do we enroll for this workshop?

Many thanks
  • #67,231
  • Mar 20, 2016 1:58am Mar 20, 2016 1:58am
Quoting emmanuel7788
Hi Folks, First thank you to all who have tried and posted your answers. I just dropped in to see how you all are doing as I am having a short coffee break now. I will need some time later after today's workshop which expect to end around 6pm my local time read read all replies and explain that question. Hopefully I find a winner... Meantime, please read these posts and ask, did Big E changed his entry and exit rules for the 5-Method? http://www.forexfactory.com/showthre...09#post4220609 http://www.forexfactory.com/showthre...16#post4575616...

Hi Emmanuel,

Interesting exercise, and a good excuse to re-read some of Big Es posts. I will share my observations:

-Originally, BigE had very simple exit rules: Time based (end of his h4 trading session) or TDI based (Green goes flat, check mark reversal, or hooks over). On post #7612 Big E observes: "See how the green line archs like a worm crawling up the red line without crossing red. You could have stayed in the whole trade without exiting until green crossed red finally". He posted the following chart:
Attached Image



-In post 8449 BigE makes a similar observation with the following comments: "If your willing to monitor a 4hr chart... you will see how when green crosses red it arcs or wiggles above or below red (see white boxes on the chart). You can stay the trade until it crosses red and pull down 200-400 pips on the longer runs". Chart posted below.
Attached Image



-In post 10872 BigE stated: "A week or two ago I shared with you the fact that I discovered when green crosses red and like a wave green ran up or down the red line that you could stay in the trade until it crossed back over for a bigger pip gain ... it was an observation I was sharing with you ... and yes the green TDI would go flat and hook over until it hit the red line when it bounced again."


It seems to me that over the course of the TMS thread Big E began observing ways to remain in a good trade for longer in order to grab more pips. That said, it did not appear he used any trade management EA, and therefore he wisely advised that in order to stay in a trade after a TDI twitch (in case tdi was going to wiggle and not reverse) it was important to monitor the h4 candles. It makes perfect sense, and it's interesting to see the different exit options we can all choose depending on our trade plan, trade style, and psychology.


Best,
N
  • #67,232
  • Edited 3:39am Mar 20, 2016 3:29am | Edited 3:39am
Quoting Nik-Nyc
{quote} Hi Emmanuel, Interesting exercise, and a good excuse to re-read some of Big Es posts. I will share my observations: -Originally, BigE had very simple exit rules: Time based (end of his h4 trading session) or TDI based (Green goes flat, check mark reversal, or hooks over). On post #7612 Big E observes: "See how the green line archs like a worm crawling up the red line without crossing red. You could have stayed in the whole trade without exiting until green crossed red finally". He posted the following chart: {image} -In post 8449 BigE makes...

Hi Nik,

you are working hard on weekend... .

just note that Big E posted trading charts are all refreshed charts so the TDI you see are all repainted.

better to use the TDI RT when we run in strategy tester and observe the TDI in realtime action.

Big E evolved as a trader when he started as a newbie in 2008. He tweaks his trading as he made progress. Also he is not tech savvy person so he did not use any of the fancy MT4 tools expert advisor, scripts, etc. He kept his trading really simple. and he was not distracted by all the fanciful indicators which pop up occasionally.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #67,233
  • Mar 20, 2016 3:34am Mar 20, 2016 3:34am
Quoting leeeta
{quote} Hi Emm How do you conduct the workshop? Online or on site? How do we enroll for this workshop? Many thanks

Hi leeta,

these workshops are privately run by a group of active TMS traders and are by invitations only and done on site. not possible to do online as it requires active brainstorming discussions among the participants.
these are not available to the public and there is no enrollment because nobody is selling anything.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #67,234
  • Mar 20, 2016 4:00am Mar 20, 2016 4:00am
Quoting SlamberGamer
{quote} Hi emmuel.. any posible.. can u write another tutor for this simple and add new rule that u take.. its kinda messy in here.. i still cant get consisten result trading this method.. and i kinda highly confuse with trading style.. i just using original big E method from the beginning.. i still failed...it hit margin call many time on my demo acc please help.. trading using this for month now..

Hi,

I suggest you read Post#647 and tell me what you do not understand in that post.
According to Big E, those are basic forex stuff which you should know when you want to trade with the TDI.

Start by trading those currency pairs like Big E - AUDUSD, EURUSD, GBPUSD, USDCAD, EURJPY, AUDJPY.
Do not trade any of those EUR crosses and GBP crosses, and do not trade AUDNZD, AUDCAD pairs.

Use the basic template in Post#25, post your charts and ask questions.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #67,235
  • Mar 20, 2016 4:26am Mar 20, 2016 4:26am
Hello

I would like to share my result so far

All trades made through Me rules
Gotta say i feel a lot more confident using this method

still working on letting go bad trades

Thanks to emmanuel and all Seniors
Attached Image (click to enlarge)
Click to Enlarge Name: graph.png Size: 21 KB
  • #67,236
  • Edited 4:48am Mar 20, 2016 4:35am | Edited 4:48am
Quoting michael69
Hello I would like to share my result so far All trades made through Me rules Gotta say i feel a lot more confident using this method still working on letting go bad trades Thanks to emmanuel and all Seniors {image}

Hi Michael,

good results. Well done !

thank you for sharing this and showing other traders that they need to believe in TMS 5-Method and make it work for them too.

stay focus in what you do and do not be distracted by stuff you read here other TMS threads in FF.
from what read in the other TMS threads, there is a lot of self-sabotage happening to traders there.

trade well and take care.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #67,237
  • Mar 20, 2016 4:38am Mar 20, 2016 4:38am
Quoting emmanuel7788
{quote} Hi, I suggest you read Post#647 and tell me what you do not understand in that post. According to Big E, those are basic forex stuff which you should know when you want to trade with the TDI. Start by trading those currency pairs like Big E - AUDUSD, EURUSD, GBPUSD, USDCAD, EURJPY, AUDJPY. Do not trade any of those EUR crosses and GBP crosses, and do not trade AUDNZD, AUDCAD pairs. Use the basic template in Post#25, post your charts and ask questions. regards,
Hi Emm, do you just suggest the AUDUSD, EURUSD, GBPUSD, USDCAD, EURJPY, AUDJPY and not the crosses due to the unpredictable volatility of those pairs? Regards
  • #67,238
  • Mar 20, 2016 4:46am Mar 20, 2016 4:46am
hi Michael

Is that trading the 1hr or 4hr
  • #67,239
  • Mar 20, 2016 4:59am Mar 20, 2016 4:59am
EURUSD Week 12 trading:

This BPP attached should explain that question which I asked in this post#67,162.

If you understand this BPP and trade plan, you can either make 200pips or 1000pips over the next 20 trading days.\
I can make 200 pips and still make more money than those who will make 1000pips.
Do you want to make 1000pips?

Ask if there is anything which you do not understand.


Also GBPUSD has a D1 setup last week and you can also trade the pair instead. Please post your GBPUSD BPP and see if we are on the same page.

Thanks.

regards,
Attached File(s)
File Type: pdf EURUSD Big Picture Plan Week 12.pdf   386 KB | 911 downloads
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #67,240
  • Mar 20, 2016 5:15am Mar 20, 2016 5:15am
Quoting trade786
hi Michael Is that trading the 1hr or 4hr
Hi

Entry and exits on H4\D
Weekly chart for trend direction
Monthly chart for support & resistance
Don't forget about BIGGER PICTURE
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