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  • #68,441
  • Apr 18, 2016 6:19am Apr 18, 2016 6:19am
Hi Em,
When plotting support & resistance lines on M, W & Day charts using line chart how do you identify the significant levels. I use swing points with a minimum of 2 touches but end up with a multitude of lines. Can you post a chart with some suggestions / tips on plotting S & R when you get 5 please?
Regards
Rob
Your trade order needs to be in the right place at the right time.
  • #68,442
  • Apr 18, 2016 6:23am Apr 18, 2016 6:23am
Hi BridgeWater and Emmanuel, this what I mean, when i zoom in in my chart i see blurred APB candles.
Attached Image (click to enlarge)
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When I zoom out, I see this.
Attached Image (click to enlarge)
Click to Enlarge Name: Screen Shot 04-18-16 at 03.05 PM.PNG Size: 42 KB


How can I get this?
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I thought that changing any parameters I could get it, may be setting the 1D in 4h or something similar.. and so have a bigger picture with clearer APB candles. Does it make sense?? Sorry for my english dear friends I try to do my best
“Stops don’t limit profits — they prevent disasters.”
  • #68,443
  • Apr 18, 2016 6:44am Apr 18, 2016 6:44am
Quoting Dagaco
Hi BridgeWater and Emmanuel, this what I mean, when i zoom in in my chart i see blurred APB candles.{image} When I zoom out, I see this.{image} How can I get this?{image} I thought that changing any parameters I could get it, may be setting the 1D in 4h or something similar.. and so have a bigger picture with clearer APB candles. Does it make sense?? Sorry for my english dear friends I try to do my best
try this, when zoom out chart, change APB setting:
default line tickness 3, change to 2
Attached Image


what is your LCD monitor display size? its below 16" maybe?
  • #68,444
  • Apr 18, 2016 7:27am Apr 18, 2016 7:27am
any reason why gbpjpy jumped so high
  • #68,445
  • Apr 18, 2016 7:44am Apr 18, 2016 7:44am
Possible break of H4 WRB on USDCHF taking place? Sorry for not posting chart. I'm at work on my phone.
  • #68,446
  • Apr 18, 2016 7:56am Apr 18, 2016 7:56am
Fellow traders

All I can say is your number one enemy is fear which causes traders to act quickly and regret later when price moves in the desired direction. Trust what you doing and don't panic. For H1 follow the higher time frame direction, Don't over-trade you will never finish this market, it will finish you. This strategy is good if you can wait, If you trading H4, don't just jump in go down and be prepared to wait for that perfect timing. I know most trader don't want to see the market to move against by many pips before breaking even, remember you trading H4.example
saw opportunity on H4 as in picture then I went down on M30 for my entry where arrow is
Had you taken an entry on H4 you would have seen market move against by close to 80pips

I closed TP at 80 pips with sl of 40
Same with EJ which manage 60 pips
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: GBPJPY.M30.png Size: 34 KB
  • #68,447
  • Apr 18, 2016 8:38am Apr 18, 2016 8:38am
Quoting catalin_eros
{quote} This is how I dealt with that sell setup: When I got the setup candle on H4 red arrow), I did not enter. {image} What I did was switch to H1 in order to get a better price entry in case of retracement, and I had a PO at the break of the low of the latest H1 candle. Every H1 candle retraced, and I moved my PO to the low of the new H1 candle, and so on (the blue lines, moved from 1, to 2, to 3). After 4 hours, a new H4 candle appeared and I closed my PO upon seeing that the sell setup was invalidated by the H4 BUOB. {image} Your comments are...
Hi Catalin,

Thanks for dropping on the other side. Well, Since have no intention messing up ppl thread, let share my 3 cents here .... .

As you see, I trade D1. Seldomly on H4.

What I posted on the other is just a guide so that newbies don't fall sharkfin pot that easily, hopefully.
From my point of view, the AJ that's you are pointing already into 3rd push. Yes, you can still trade. But, I would not entry.
But I will be waiting to consume you alive at the 68 haha. Meaning, I am waiting for a sell. If you are unlucky,
you gonna get crush. Didn't you notice my sample shorting AJ ?

Ok. basically, I seldom take retracement trade. I will swing from D1 when the Green coming out of 32 or 68.
But since I'm no longer following much on TMS, TDI is my main weapon. Till now, I am seeking only niche entry.
One swing in D1, from 32 to 68 you might land yourself 400pips. from 68 to 32 is even more.
So before the trade, I will plan out my entry point.

Once the price vroom into my favor, I just occasionally monitor the trade. TP100/200/300 (from the lowest point of the break) and so on.
When the TDI green and red playing around the 50 crossing up and down, I would not re-entry. Because, everytime when I trade, I usually get
emotional. I dont like watching the playing around my entry point. It's makes me very uncertain.

Green pippins ya
Banker please return my pipins.
  • #68,448
  • Apr 18, 2016 12:09pm Apr 18, 2016 12:09pm
Quoting BridgeWater
{quote} try this, when zoom out chart, change APB setting: default line tickness 3, change to 2 {image} what is your LCD monitor display size? its below 16" maybe?
Yes it is 15.6"... but I have changed the tickness and now looks better
Thank you very much BridgeWater!
“Stops don’t limit profits — they prevent disasters.”
  • #68,449
  • Apr 18, 2016 2:09pm Apr 18, 2016 2:09pm
Hi All,

I would like to give a big shout out to the late Big E for this wonderful system and Emmanuel for continuing developing and helping out the everyone. I have been trading for a year plus and started to use this system a 3 months ago after demoing for 2 months. This is a wonderful system. Simple and Clean. Started to earn real REALISTIC money since then. I am not an expect or an old timer in trading but just some small advice to all that wanted to try trading with TMS.

1. TDI is not a holy grail. Alone TDI ,it is useless but with combination Price Action, it will become very powerful. Always know where is the SUPPORT and RESISTANCE Recognize the strong and weak S/R.
2. No indicator can predict the future, they are only showing statistic. That is why risk management must come in. Know your limit of loss you can take. DO NOT ALWAYS THINK ABOUT WINNING ONLY. Always have a REALISTIC target.
3. Lastly, PRACTISE,PRACTISE and PRACTISE. Never Give up so easily. It is good to hit the wall once in a while but must know why,how and when. There is always a reason for something to happen.

BTW, this is my first post and sorry for busy bodying....haha

RIDE THE BULL AND HUNT THE BEAR. CHEERS
  • #68,450
  • Apr 18, 2016 3:20pm Apr 18, 2016 3:20pm
Quoting Placido
Hi All, I would like to give a big shout out to the late Big E for this wonderful system and Emmanuel for continuing developing and helping out the everyone. I have been trading for a year plus and started to use this system a 3 months ago after demoing for 2 months. This is a wonderful system. Simple and Clean. Started to earn real REALISTIC money since then. I am not an expect or an old timer in trading but just some small advice to all that wanted to try trading with TMS. 1. TDI is not a holy grail. Alone TDI ,it is useless but with combination...
Great first post. Welcome to forex factory.
It's in fear when people show what they truly value.
  • #68,451
  • Apr 18, 2016 4:10pm Apr 18, 2016 4:10pm
Good morning TMS world,

Here is a very good thread just started and Newbies can learn about trend following trading.

Learn and apply what numbnuts share in his thread.

http://www.forexfactory.com/showthread.php?t=587512


regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #68,452
  • Apr 18, 2016 4:19pm Apr 18, 2016 4:19pm
Quoting Placido
Hi All, I would like to give a big shout out to the late Big E for this wonderful system and Emmanuel for continuing developing and helping out the everyone. I have been trading for a year plus and started to use this system a 3 months ago after demoing for 2 months. This is a wonderful system. Simple and Clean. Started to earn real REALISTIC money since then. I am not an expect or an old timer in trading but just some small advice to all that wanted to try trading with TMS. 1. TDI is not a holy grail. Alone TDI ,it is useless but with combination...
Hi Placido,

Good post and share. Thanks.

I LIKE your quote "RIDE THE BULL AND HUNT THE BEAR" .
You must be an equity trader...

Look forward to your active participation in this thread.
Don't worry about being 'busy bodying' here.
I have been called worst than that, I am 'hijacker' of this thread.
But this thread has not crashed nor landed in hostile land.
This thread is in 'auto-pilot' mode for many years since our OP Big E' last online in Dec 2011.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #68,453
  • Apr 18, 2016 4:56pm Apr 18, 2016 4:56pm
Quoting Islandfx911
Hi Em, When plotting support & resistance lines on M, W & Day charts using line chart how do you identify the significant levels. I use swing points with a minimum of 2 touches but end up with a multitude of lines. Can you post a chart with some suggestions / tips on plotting S & R when you get 5 please? Regards Rob

In my Big Picture Planning document, I use the Monthly Line Chart (which is the MN Close Price) to look for price swing levels. This should not give too many lines in and around the current market. If it show too many lines, then you will see that the market is trading in very small choppy range.

On the Weekly, you can do the same using the Weekly Line Chart. Same simple rule you use for the Monthly. But the simple way is just to use the previous Week Open, High, Low and Close (OHLC) as natural support and resistance.

With both the MN swing levels and the W1 OHLC, plus the BRN 00 and RN 50, you will bound to see market reaction around these CONFLUENCE of support and resistance.

On the Day chart, it is much easier, I look at the price swing using the APB/HA colour change and with the TDI cross. These become the most recent support and resistance.

Price Action patterns like - Wide Range Bar WRB and Master Candle [3] are two very useful PA patterns to use to look for consolidation high-low which are also support and resistance levels.

No more use of Pivots, Fibonacci, etc. like the old days. I keep it simple and adopt this simple approach and achieved consistency.

Now having done the above, I only focus on the Price Action for trade setups.


AUDUSD example below:

Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD Week 16 Apr 18 example of trend following breakout.png Size: 86 KB


Remember: True TMS 5-Method traders are TREND FOLLOWING TRADERS. We are not trend fading traders... who pick tops and bottoms.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #68,454
  • Apr 18, 2016 5:32pm Apr 18, 2016 5:32pm
Here is one PM I got over the weekend:
I hope some of you can help this Newbie.

<quote>
I need about 120 trades in one month with TP 50pips and SL 50pips. I trade with indicator cross as signals. While back-testing, I noticed that when I use the TDI, I can only get 60% of trades setups,
with the MACD, I get 65% of trades setups,
with Stochastics, I get even more about 70% to 73% of trade setups.
what do you suggest I do in order to get the high number of trades I need every month.
<unquote>

I am still thinking of an appropriate answer to help this Newbie short of sending him back to school.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #68,455
  • Apr 18, 2016 7:09pm Apr 18, 2016 7:09pm
Quoting emmanuel7788
{quote} In my Big Picture Planning document, I use the Monthly Line Chart (which is the MN Close Price) to look for price swing levels. This should not give too many lines in and around the current market. If it show too many lines, then you will see that the market is trading in very small choppy range. On the Weekly, you can do the same using the Weekly Line Chart. Same simple rule you use for the Monthly. But the simple way is just to use the previous Week Open, High, Low and Close (OHLC) as natural support and resistance. With both the MN swing...
Hi emmanuel,

I think, there are two uses of s/r.

1. Fade the s/r. Adding other confluence and looking for divergence/momentum signal on lower TF to trade against the s/r.
2. Use s/r as a roadmap. That is, if this resistance breaks, it becomes support. Price is then expected to head toward the next resistance level.

I cannot see how the 0.7600 level fits into any of the above 2 category. Price penetrate up the 0.7600 level then penetrate down that level several times that week. Could you discuss the following?

1. How do you use the s/r for trading (is it category 1 or category 2)?
2. How would you view that s/r (0.7600 level) as price unfolds in real-time?

Thank you.
  • #68,456
  • Apr 18, 2016 7:44pm Apr 18, 2016 7:44pm
I think some commen sense knowledge of foundamental analysis such as COT report is crucial for trading the daily timeframe. This gives good reason behind running further the profit, and avoid taking counter-trend trade. Understand what the big players are doing, and trade with them. If the foundamental reason underlying a weekly trend is intact, we can still stay in the trade.

Hence, I have searched for good resources on foundamental analysis in this forum.

A good thread I found is this. Thanks to hanover.

http://www.forexfactory.com/showthread.php?t=216097
  • #68,457
  • Edited 11:34pm Apr 18, 2016 9:26pm | Edited 11:34pm
Time Frame Selection
I never cease to be amazed that the selection of time frame is never considered in trading discussions. After being told, and then finding out for myself, that brokers, system sellers, auto robot sellers etc., and other scammers target wishful thinking wannabe traders with their M1, M5 and M15 time frames, it is hardly surprising that the majority blow their accounts within weeks, sometimes days.

To just arbitrarily choose a time frame to trade is like choosing the first girl you date to be your wife. For many, that decision is made by the ads that suck you in with their $1200 per day M5 scalping system. There is far more to consider when choosing a time frame to trade.

Jackos trading partner, Mark, used to be a broker and has witnessed first hand, the longevity of traders trading short time frames. Their trading life is very short and painful as you would expect for someone sat in front of the one eyed monster all day long trying to wring out 10 pips on M1. Similarly for those on M5 and M15. Just like a revolving door, he has witnessed them come and go. Add into this that many short time frame traders have more than one monitor, sometimes up to five. Is it any wonder that these guys are highly stressed mental wrecks?

For me, the time frame controls your trading destiny. I rank it as high as trading psychology and in fact, that is probably where it belongs.

How many traders consider the impact that time frame has on their profits? I will bet there isnt one. Consider a trader using a successful scalping system on M1 time frame. These guys are looking to make 5 pips or 10 pips at the most per trade. The effort, stress, mental anguish to reward ratio on this is horrendous. When you consider that they are in the hole for 2 to 3 pips (spread) the second they put on that trade, it puts tremendous emphasis on the accuracy of exits and entries to come out in profit. To be successful on M1, you have to be in the top 98% of everything method, entries, exits, psyche, etc.

If you havent realized by now, then, the shorter the time frame, the more accurate your method has to be, meaning that there is little leeway in your entries and exits. Miss them by a couple of pips and you are in the red.

Conversely, the longer the time frame, the more leeway there is in both entries and exits. Entries and exits on weekly time frames do not have to be as accurate as those on the daily time frame which in turn, do not have to be as accurate as those on H4 and so on. When we are boarding our train on the daily express, it doesnt really matter whether we are in the first carriage or the tenth carriage. We all arrive at the final destination with plenty of time (relatively speaking) to get off.

Another factor in time frame selection that I have never seen discussed, or I will bet, thought of, is our personal suitability and compatibility. We must never forget that the markets are energy. We traders are energy. Energy is governed by the Laws of Nature and, as such, can be broken down into different forms, states and matter. One of the properties of energy is it’s vibration and harmonics. The market, and each one of us as traders have vibration and harmonics which revolve around our personal natural frequencies. Yes, like it or not, we are just matter constantly vibrating in everything we do at our natural frequency. The markets are there, always vibrating at their natural frequency.

There is a state called resonance which occurs when two bodies of the same natural frequency come together. What happens then is that these natural frequencies excite each other causing large amplitudes and vibrations which continue to expand and vibrate until they both explode. I have witnessed this many times in my studies and experiments.

What has this to do with time frame selection you are asking? Everything. If you are familiar with the dating service e-harmony, it is the same thing. We are trying to find our partner (time frame) whose harmonics are compatible with ours. We need a partner (time frame) whose harmonics ideally have a sine wave 180 degrees opposed to ours so that their peak harmonic is at the same time as our valley harmonic.

Still lost? In simple terms, you may say that you are going to trade M15 because you know of a method/system on that time frame which is proven to be successful and profitable. Yet, when you trade that system, you cannot get it to work for you, no matter how hard you try. Usually, the harder you try, the more difficult it becomes. There is nothing wrong with the system, it works, it has been proven by others. What is wrong is YOU. YOU are not compatible with that time frame. YOU have to find a time frame which complements YOUR harmonics. Until you work on a time frame that compliments and is compatible with your harmonics, you will never be successful, comfortable or happy.

This has nothing to do with the longer the time frame being the more comfortable for you. It is about matching a time frame that you feel comfortable with, that allows you to trade easier and better with the lowest amount of stress and anguish.

In my case, I know my time frames are Weekly and Daily. I am so comfortable with them that I feel “as one” with them. I would love to trade H4, yet, as soon as I drop down to H4, I get an uneasy feeling, I just don’t feel as confident or as powerful as I do on the daily and weekly time frames. For me to trade H4 would put me at a disadvantage before I even put on a trade. This is exactly what happened when I tried to do M5 and M15.

Pay attention to time frames and find the one which is compatible with you.
-livium
Attached File(s)
File Type: pdf Time Frame Selection.pdf   248 KB | 576 downloads
  • #68,458
  • Apr 18, 2016 9:57pm Apr 18, 2016 9:57pm
Quoting leescofield
Time Frame Selection I never cease to be amazed that the selection of time frame is never considered in trading discussions. After being told, and then finding out for myself, that brokers, system sellers, auto robot sellers etc., and other scammers target wishful thinking wannabe traders with their M1, M5 and M15 time frames, it is hardly surprising that the majority blow their accounts within weeks, sometimes days. To just arbitrarily choose a time frame to trade is like choosing the first girl you date to be your wife. For many, that decision...
1000% agreed.
Banker please return my pipins.
  • #68,459
  • Edited Apr 19, 2016 2:57pm Apr 18, 2016 10:29pm | Edited Apr 19, 2016 2:57pm
Quoting antonym
{quote} Hi emmanuel, I think, there are two uses of s/r. 1. Fade the s/r. Adding other confluence and looking for divergence/momentum signal on lower TF to trade against the s/r. 2. Use s/r as a roadmap. That is, if this resistance breaks, it becomes support. Price is then expected to head toward the next resistance level. I cannot see how the 0.7600 level fits into any of the above 2 category. Price penetrate up the 0.7600 level then penetrate down that level several times that week. Could you discuss the following? 1. How do you use the s/r for...
See attached pdf.

Why I long AU?

Why do most moving average cross trade signals will caused (not cost) many traders to lose money? Look at the pdf page 2 - Day chart.
Do you want to know how to trade MA cross system with TMS 5-Method?
If you want to use this 'ancient' MA cross trading system with TMS 5-Method, please post with reply with YES!

edit grammar
Attached File(s)
File Type: pdf AUDUSD Big Picture Analysis Technical Analysis.pdf   292 KB | 996 downloads
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #68,460
  • Edited 10:56pm Apr 18, 2016 10:45pm | Edited 10:56pm
Quoting emmanuel7788
Here is one PM I got over the weekend: I hope some of you can help this Newbie. <quote> I need about 120 trades in one month with TP 50pips and SL 50pips. I trade with indicator cross as signals. While back-testing, I noticed that when I use the TDI, I can only get 60% of trades setups, with the MACD, I get 65% of trades setups, with Stochastics, I get even more about 70% to 73% of trade setups. what do you suggest I do in order to get the high number of trades I need every month. <unquote> I am still thinking of an appropriate answer to help this...
Emm:

I'll give this a try.... This trader doesn't know what he needs. His focus is wrong. He talks about "needing" 120 trades with specific stops and profits. You don't need any of that garbage. You can't cookie cutter; rather you shouldn't cookie cutter this situation. Perhaps on a smaller time frame you could try ( I have and found mild success) but the path of least resistance is to find the trade on your chosen technique and adjust your lotsize for said trade on your TF. You don't need 120 trades a month. You could do it in one; yes just one trade could get you all the pips and money you "need." Tell this trader politely to read all of your posts for the last six months and he will have all the answers he needs. Assuming he has gone through the pipsology at babypips. I would also like to tell him that I have traded for the last six years and every two years I go through from beginning to end, the same school. The funny thing is I started it again two weeks ago. I also read constantly; everyday something that I have gotten on this thread in the form of books and pdf and such. In the last month I have read 3 books, several PDFs, many passages on this thread and others, hours of backtesting/forwardtesting, hours of trying to teach my wife, and of course all the time I give toward the actual trading of my/your technique. Tell him if he wants success he needs to roll up the sleeves and get to work. But most importantly; get this silly notion of cookie cutter trading goals out of his head. He is counting his golden eggs in the basket without knowing how to take care of, or even find the golden goose that lays them. The sooner he stops dreaming about trading goals and starts focusing on what the teacher has already shown. The better.

Just in case anyone is still trying to figure out what I meant by one trade? I'll show you a crude example. Look at any weekly trend. Preferably a currency that channel trades. Look at the G5BP/JPY before the breakdown on the weekly TF. Draw your channel and when price reaches the bottom of the channel start zipping down your time frames looking for confluence and confirmation till you get to the magic TF that corresponds to your personality. For more info on that look above at Leescofeild. Then find your trade. If you are good enough you can find this weekly trade on the 5m or 1m charts, but it needs practice... (I wouldn't dream of going lower than say the hourly, but I have seen it done. So have you). From this single weekly trade you cut it into however many smaller trades you want 120 or whatever and use even smaller SL and TP if that is your thing. Or you could just apply ME/ME on your trades like Emm has graciously shown us and do it that way. He enters on a retrace, but you could add "top up" trades on the way up as well. These are mere glimpses of the possibilities you could try. People these are also just the clues you could have garnered from Emms posts just by reading anything having to do with Me/Me and big picture planning. I am still honing my skills and getting my 10,000 hours. I used to look at that number when it was first posted and said "I'll never wait that long to get profitable." Guess what? I wasted time going from system to system paying thousands of dollars trying to get an education and got way more than 10,000 hours and have come full circle back to this thread and am now finally showing profit. Do youselves a favor! Get your 10,000 hours! Commit to it and stay with this method and you will make it. Good luck all

LL
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