Trading Made Simple

I don't worry about it. There are other price momentum indicators we can rely on.
you can use any platform's RSI data and create the Fozzy-RSI which is the TDI.
Fozzy system have been around longer before the TDI was created.
Traders Dynamic Index is just a fancy name for marketing purposes.
Does it make a lot of difference if we use the 68 and 32 levels or just the 70 and 30 levels.
Of course, some may argue that 68 and 32 is more accurate than 70 and 30.

How to create the TDI using the RSI available in other platform: Post#15,546
Fozzy RSI Method Post#59,617

Read this book
RSI: The Complete Guide Post#27,110 by John Hayden

learn price action trading and you never have to worry about depending on any technical indicators in future.

wow amazing, thank you for information about this thinking hat, very good

Hello Emm

Good to read you again

And what makes you so sure?

It is like studying paste history of charts
You hope that history will repeat itself and use indicators to show where the market should go.
How many trades did you have lost because you have study past history saying this is what going to happen?

I am trying to predict the market with TMS rules and by reading TMS the fog is lifting
and still have my butt kicked
TMS is good yesterday was a "WOW" day and something is still lacking

Again you show the way to go

quote "learn price action trading and you never have to worry about depending on any technical indicators in future"

Price action
In simple terms, price action is a trading technique that allows a trader to read the market and make trading decisions based on the actual price movement on the chart, rather than relying on lagging indicators. Most indicators are derived from the actual prices on the chart, so they are in fact, giving them information on past price movements.
Why would traders want to base their trades on past information, when the most important factor in trading is what prices are doing right now, and what they are most likely to do in the very near future? By using certain strategies, past information can help the trader to learn what prices are most likely going to do in the short term, rather than trying to guess using lagging indicators.
http://www.investopedia.com/universi...on-traders.asp

Thanks Emm

a few million years of sun rise predictions can not be wrong - I hope
(Pssst the cock might have a sore throat)

Hi!! what do you think about this?

Weekly and Daily are both sideways.
I wait for the breakout and scale-in more positions... maybe next week in a new month.

I see no cross there just yet. So you start ME/ME without the cross, based on the IB break only?

The advantage of scaling in is that we get better price entry. But the downside is that if price doesn't retrace after the entry, we are left with only the initial size as a winner. Unless we keep adding on the next retracements after we are already protected.

shallow retracement means trend is strong and it is better to be in the market with one small initial trade than wait for retracement which often do not happen in strong trend and breakout situations. we can scale-in when there is continuation in the trend... like what is happening now with GU.

But... W1 is down bias in my BPP. On H4 the price line went into the VB, so possible consolidation, which makes sense if we take a look left, where we see H4 R area. Looking forward for your comments, Emm.

I have a sell order there.

A quick 30 pips gained

Good Morning,

It has been awhile since I posted here; but I thought I would chime in regarding indicators etc, seems to be a lot of new traders here asking the same questions, so hopefully this may help some of you.

It is natural to hope that there are magic indicators such as the TDI/Stochastic etc that will enable you to make thousands of pips because "they cross", however, although these indicators can be effectively used as guides, they really only measure overbought and oversold conditions and in a range bound market, they work much better then if the market is trending one way or the other.

These are oscillators, for an example, lets say that price has been bouncing between 1.000 and 1.2000 for a week, you would clearly see very good trades from the o/b and o/s areas when looking at your candles and tdi/stochs.

Now if you look at a chart that has been trending hard up or trending hard down, you'll notice your TDI/Stoch crosses aren't as accurate nor are the trades as profitable (unless you caught the top or bottom and are letting your position ride).

Now the next part of my rant

Many good equity traders (think stocks/etfs here) and also commodity traders, trade using Stochastic's very effectively, in fact, Craig Harris whom Big E devised this "system" after trades this way and it is really all you need, but I won't get into that now.

You simply look for a commodity (Forex Pair, Oil, Gold, Silver etc etc) or stock that has enough range (you need lots of movement to make it easier on yourself) and you look for charts that are ranging, take the meat of the move, meaning set your risk at the bottom of the swing for 1% risk on your account and target 2-5% depending on support & resistance and you'll be a very tough trader to bet against should you adhere to your stops.

Sure you'll have a much lower win-rate, but your account will grow exponentially because of your r/r...

This thread has literally saved my life back when I first read it in 2012...I know it sounds weird, but I can trade almost any instrument (mainly focus on commodities) I personally have the TDI on the MT4 terminal out of habit, I focus more on clear bounces in a range using the stoch's and let my winners ride, it has been what I did to make this "system" my own.

The last four months my personal account has grown 15% trading GBP.USD and Oil almost exclusively, I would take a 3.75% monthly return for the rest of my life.
I also trade with a lot less risk now then when I first stared and take much fewer trades, I think as I get older and appreciate the risk side of things more.

So, if your trading forex, look for pairs with lots of range and also look for your pair to be trading in a range and trade within in it and embrace the small losses, if you can bat in the high 30%-40% range using a 2R or greater risk/reward you'll be deadly.

Good Luck

I mean jan and feb, your me/me trades had duration of around 4-5D average, and this last weeks is only hours

I have done a quick research: The seventh could be the grey one.

Grey for the age which is related with the experience, the long term risk it is a senior cap.

Do not be so humble Emm, YOU'VE GOT IT ON YOUR HEAD!!!

EA_H1 trade for +50 pips, I think an eventual breakout is coming soon on EA on daily , was a set and forget trade based on the pullback candle on H1, I might have extended TP on this one tho

Here they are for +50 pips and for +100 pips , its set to move to break-even at +25 pips without trailing stop

AU, H4, long, +77 pips.

NU, H4, long, +122 pips.

wisdom comes to a person who has patience and waiting with patience means we age ... grey cap

well this month's trading I close profitable trades and re-do position sizing, re-open new trades in shorter time when there is breakout move like GU this week. I made my 3% ...

this pair has been sideways for many days.
better follow the day bias and not trade against the Day candle

this is a super post sharing of success experience ... must read folks.

thanks Andy.