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Trading Made Simple

  • #68,581
  • Apr 23, 2016 6:27pm Apr 23, 2016 6:27pm
Quoting smartsociety
Dears All, I have read almost all posts but still wonder sth . What it means to ''Enter a trade when green crosses red on the TDI at the beginning of that candle ,If it's candle 3 or more don't enter''. How to spot candle Number: 1 (the correct one) ? A candle might start in Red color and we get TDI short signal ,jump in , then Ooops! PA goes high and the candle turn color to close blue. Am I understanding well that just at the start of candle we go as initial sight tells us red /sell , blue /buy (of course with TDI confirmation)? But again that...

Hi,

you want to trade the aggressive style like Big E...I suggest you do not until you have master what the 5-Method is.

you want to pick the best setups, like picking entry on APB#1 or APB#2 you must done the checks which Big E mention in Post#647:

<quote>
Your safest trades will always be when green crosses red and you enter on candle 1 or 2... odds are in your favor. Why? Because I'm expecting 3-8 candles... which is average...

With bounce trades the odds are lower for your success... but it still works.

When wanting to enter a TDI trade... take a moment first to observe basic 4x things... like:

How close am I to the previous high or lo

Am I in an uptrend or downtrend.. short & long term...

Am I in or close to a consolidation area

Are the previous candles small...

Look at the candles on the last reversal... big, little, what

How does the momentum look right now (12-2, 4-6)

Does Stoch's confirm the TDI signal

Sounds like a lot of stuff but it's basic stuff and only takes a moment to observe it...

If you don't already know these things... don't trade live yet... www.babypips.com is a good place to learn about the basics of trading 4X.
<unquote>

it is not so easy without knowledge in Price Action trading and proper use of Support and Resistance.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #68,582
  • Edited 10:25pm Apr 23, 2016 10:15pm | Edited 10:25pm
Quoting TibetSun
Hello, This is a 2 fold question, on the Average Daily Range. Also assuming most swing traders use ADR as opposed to ATR, since gaps are rare in forex typically occur over the weekends. If price reaches exhaustion on the ADR, would it be reasonable to enter on a retrace (given only a valid TDI cross setup and S/R for confluence), and generally expect a shallow 38% retracement for a target, as long as there was no hindrance in the path? I would think there are many factors involved; pair, time of day, week, etc., but my question is just, generally...

Hi,

There are many different ways how traders look at the Average Daily Range.

Most traders use the platform's ATR which shows true range which include any price gaps.
A good website to read up :

http://forex-indicators.net/volatility-indicators/atr

For those traders trading intraday on H1 or M15, there is a very good ADR marker posted in this thread:
http://www.forexfactory.com/showthre...92#post5321992
http://www.forexfactory.com/showthre...04#post7972304

The defaults number of days is 30 days. This is good because some brokers have the small Sunday candles and 30 days will be a better average to use.
The ADR-100 days would be more conservative.

However, for 4H swing trading in the week, I prefer to use the 52-Weeks average trading range. Simply we have 52 weeks in one calendar year. Or some may prefer 100-weeks which is about 2 years (or 52 x 2=104 weeks if you want more conservative 'accuracy'...)
Trading the 4H swing in the week, we look for when the market trend when the week open and usually the 40% and 60% of the 52-weeks ATR are easy targets.
In very strong trending market type, the trading range may exceed the 100% and often 120% is good target.
But when market makes a new high or low during the week, we trade the intra-week reversal and we will then take the distance from the new week high or new week low and plan our target from the new swing high / swing low, using the same 52-weeks ATR.

Example using GBPUSD in the recent weeks.

Attached Image (click to enlarge)
Click to Enlarge Name: using the 52-weeks AWR.png Size: 94 KB


Attached Image (click to enlarge)
Click to Enlarge Name: GB{USD ATR 52 vs 100 comparison.png Size: 47 KB


regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #68,583
  • Apr 23, 2016 11:29pm Apr 23, 2016 11:29pm
Hey Folks,

something off-topic which I need your help urgently.

I need to know what the median annual income in the UK for people working in the finance industry including banks, insurance companies, brokerage firms, etc.

Also,

what the median/average age of people starting work after completion of their university studies?

what is the official retirement age?


Thanks for your help.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #68,584
  • Edited 3:40am Apr 24, 2016 2:56am | Edited 3:40am
Quoting emmanuel7788
Hey Folks, something off-topic which I need your help urgently. I need to know what the median annual income in the UK for people working in the finance industry including banks, insurance companies, brokerage firms, etc. Also, what the median/average age of people starting work after completion of their university studies? what is the official retirement age? Thanks for your help. regards,
Emm, hope this can help you,

what the median annual income in the UK for people working in the finance industry including banks, insurance companies, brokerage firms, etc.?
Information source: The National Careers Service UK Gov.
•As a trainee or newly qualified adviser, your basic salary would be around 22,000 to 30,000 a year.
•As an experienced financial adviser, you could earn up to 40,000 a year.
•If you are working in a management role or private client advice, you could earn up to 70,000 a year.
•You could also earn commission but only on mortgage and insurance products.
•As an independent financial adviser, you would charge your clients a fee, or you would earn commission from the products you sell them. Your income would be based on the number of clients you see. As a general guide, independent financial advisers could charge their clients an hourly rate between 75 and 250 an hour.
Figures are intended as a guideline only.
(more detailed, read: https://nationalcareersservice.direc...aladviser.aspx)

See also, Average UK Salary by Industry - Financial Service (GBP 35,187) (read: http://www.monster.co.uk/career-advi...-salary-graphs)

what the median/average age of people starting work after completion of their university studies?
Information source, Department for Business, Innovation and Skills Uk Gov.
For 2010 international graduates, six months after graduation, 86% are in employment or further study. In their third year after graduation, 95% of the class of 2008 are employed or studying.
•These figures are comparable to the first wave of this research (in 2010) which found that 78% of new graduates were working or studying, rising to 95% in the third year post-graduation.
• Six months after graduation, for those in employment, 85% of graduates are in graduate-level jobs. The figure increases marginally to 87% in the third year post-graduation.
• In the first year after graduation of those who are working, 22% are in the UK. Three years after graduation, 17% of those who are working are in the UK.
(more detail, read 2012-iGO-Report-published-by-BIS.pdf attached)

Interesting article:Most people in the UK do not go to university and maybe never will (read: http://www.theguardian.com/higher-ed...-data-analysis)

what is the official retirement age?
Information source, "Age UK" is the country's largest charity dedicated to helping everyone make the most of later life.
Implemented in 2006, the Default Retirement Age (DRA) meant that employers could force their employees to retire at the age of 65. Employees could request to stay on after this age but employers could refuse these requests if they wished to. In January 2011 the Government confirmed that they would be pressing ahead, as planned, with the abolition of the DRA. So from 6 April 2011, employers were no longer able to issue retirement notices to their employees.
(more detail, visit: http://www.ageuk.org.uk/work-and-lea...ked-questions/)

Regards,

Attached File(s)
File Type: pdf 2012-iGO-Report-published-by-BIS.pdf   1.5 MB | 460 downloads

Attached File(s)
File Type: pdf an-indispensable-idustry.pdf   2.1 MB | 564 downloads

Attached File(s)
File Type: pdf banking-investment-and-insurance.pdf   130 KB | 355 downloads
  • #68,585
  • Apr 24, 2016 5:57am Apr 24, 2016 5:57am
Dear emmanuel7788

Many thanks for your time. Still I got no answer for my main question . Pls guys just one response direct to the point .

How you determine that called (first candle) ?

Do we take it for granted once the candle opens in red color so that is it . The candle will close red and we go short if that is accompanied with TDI signal?
  • #68,586
  • Apr 24, 2016 6:18am Apr 24, 2016 6:18am
Quoting BridgeWater
{quote} Emm, hope this can help you, what the median annual income in the UK for people working in the finance industry including banks, insurance companies, brokerage firms, etc.? Information source: The National Careers Service UK Gov. •As a trainee or newly qualified adviser, your basic salary would be around 22,000 to 30,000 a year. •As an experienced financial adviser, you could earn up to 40,000 a year. •If you are working in a management role or private client advice, you could earn up to 70,000 a year. •You could also earn commission but...
Thank you very much BridgeWater.

With all these very useful information, I can help a few traders work on their business plan so that they will be able to trade for additional supplement income to their full time day jobs.
I do not advise anyone to even try trade for a living. Keep your day jobs. Trading for a living remains a dream. Only very few can make it to trade for a living.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #68,587
  • Apr 24, 2016 6:21am Apr 24, 2016 6:21am
Quoting smartsociety
Dear emmanuel7788 Many thanks for your time. Still I got no answer for my main question . Pls guys just one response direct to the point . How you determine that called (first candle) ? Do we take it for granted once the candle opens in red color so that is it . The candle will close red and we go short if that is accompanied with TDI signal?

Try use FF search using our OP name ... keyword " setup candle"

Attached Image (click to enlarge)
Click to Enlarge Name: eelfrranz on setuo candle.png Size: 164 KB


you can do yourself a huge favour by following these links:

Trading Made Simple for beginners : Post#52,707
A short history by pioneer member snarlyjack Post#110
Our late OP eelfranz aka Big E spent 6,000 hours: Post#6 and he evolved as a trader and went on and developed two trading methods.
5-Method and 21/233 Method Post#3018, Post#4104,
After months of postings and answering many frequently asked questions FAQs,
eelfranz made the jump to this new Trading Made Simple thread on 26 April 2011... Post#4432
In Post#1, he explained how he traded the H4 chart timeframe and he also trade the H1 chart during the NY session. This suited his lifestyle being retired and the time zone he lived. Sadly he passed away in Oct 2012.
Two very important posts: Post#261 and Post#647, give a simple summary of what this 5-Method is and the basic forex stuff we check before we look for the TDI setups to trade.
TMS 5-Method Basic Rules: Post#53,841
Always check the #1- Price Action first, then #2- TDI Post#3142
Big E wanted us to build this TMS thread together... Post#4,432

The original indicators and template Post#25
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #68,588
  • Apr 24, 2016 6:25am Apr 24, 2016 6:25am
Quoting leescofield
I downloaded all the videos from TDI. A lot to learn. but I would not share as they're commerical contents,so sorry. {image} {image}

"big sister" is watching this thread.

so we must all be careful not to post anything which has to do with commercial sites and contents.

we risk being made commercial member.

also risk this thread being sent to the Commercial Content forum. Do you all want this to happen?
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #68,589
  • Apr 24, 2016 6:39am Apr 24, 2016 6:39am
😢I should learn to be quite.and I am learning much more things from other website.but can't share them.so let it be
Quoting emmanuel7788
{quote} "big sister" is watching this thread. so we must all be careful not to post anything which has to do with commercial sites and contents. we risk being made commercial member. also risk this thread being sent to the Commercial Content forum. Do you all want this to happen?
  • #68,590
  • Apr 24, 2016 6:58am Apr 24, 2016 6:58am
Quoting leescofield
��I should learn to be quite.and I am learning much more things from other website.but can't share them.so let it be{quote}

No, I think you are hardworking person and know your way around getting lots of resources which are very helpful to others. But some other members do not see it this way. Some are suspicious of our intentions when we are very helpful to others and especially when Newbies like us.

We all know that Snarlyjack was also a very help person who wants to helpful others in this thread. He shared his knowledge and experience from a popular commercial system. However, 'big sister" did not like him and fact that SJ became very well like by others in our TMS family. Complains were made to FF admin and as result, SJ was made Commercial Member which prevent him from posting in this thread.
"big sister' also wants to see me made into a commercial member status so that I can to be there with my friends.

So take care and be careful what we share and discuss here going forward.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #68,591
  • Apr 24, 2016 8:12am Apr 24, 2016 8:12am
Good morning Emmanuel. Also posted this question on another topic, I would different opinions, since I see that despite all being TMS, many operate differently. I have a hard time when my trade goes against me I usually close it before reaching my SL. Sometimes he came near my SL and returned to me. What should I do once my difinido SL, I expect to hit it? Thank you in advance for the answer.
  • #68,592
  • Apr 24, 2016 9:47am Apr 24, 2016 9:47am
Quoting Saripefx
Good morning Emmanuel. Also posted this question on another topic, I would different opinions, since I see that despite all being TMS, many operate differently. I have a hard time when my trade goes against me I usually close it before reaching my SL. Sometimes he came near my SL and returned to me. What should I do once my difinido SL, I expect to hit it? Thank you in advance for the answer.
Sl is itself a strategy. Lot of things to consider before placing a SL. You didn't post a chart. How you place your SL? What strategy do you follow for your SL? how you determine your SL level? Could have been helpful for others to learn when emmanuel answer your question.
Sad i'm not trying to understand PA
  • #68,593
  • Apr 24, 2016 10:50am Apr 24, 2016 10:50am
Sir emmanuel7788

Many many thanks . That is really generous and very helpful which you all the best & highly appreciated .

I'll go through the old links you gave me , then move on to your (Darvas Box) idea to implement as well. I do not trust 5Method or 21/233 to be enough used alone....

I'll be back needing the summary to understand about Darvas box and the following updates.
  • #68,594
  • Apr 24, 2016 10:58am Apr 24, 2016 10:58am
Quoting emmanuel7788
{quote} No, I think you are hardworking person and know your way around getting lots of resources which are very helpful to others. But some other members do not see it this way. Some are suspicious of our intentions when we are very helpful to others and especially when Newbies like us. We all know that Snarlyjack was also a very help person who wants to helpful others in this thread. He shared his knowledge and experience from a popular commercial system. However, 'big sister" did not like him and fact that SJ became very well like by others in...
Anyway,I learnt many things from Feb until now,first I follow the Ronald Raygun EA development,I knew the knowledge about EA,Then the scalp over the rainbow,PVSRA I get the indicators I still using now.Then nonlag dots,I leanrt the bastket trade and basic knowledge about ATR.
I spend many hours learning,practising.
Now I need more knowledges for me to learn.I am start finding other good forums or website to learn more things.
  • #68,595
  • Apr 24, 2016 11:23am Apr 24, 2016 11:23am
Newbie Question ( sorry for if already asked)

How to study the old charts? What to look for in the old charts and how to use that historical data to improve the trading TMS 5 Method

Again if someone can suggest how to back test the TMS 5 Method on the MT4, ( I am using MT4 broker Alpari )
  • #68,596
  • Apr 24, 2016 2:15pm Apr 24, 2016 2:15pm
Quoting emmanuel7788
{quote} Helanka: Use either of these APB or HA indicators. It will allow you to change its properties and retain the values. The other one you posted was hard coded. regards, EMMANUEL {file} {file}
Thank you so much Sensei,
Those indicators was just what i needed!
It was indeed very helpful.

Regards,
EF
Motivation is what gets you started. Habit is what keeps you going
  • #68,597
  • Apr 24, 2016 5:34pm Apr 24, 2016 5:34pm
Good morning TMS folks,

GBP pairs open with gaps, not surprised though with the market optimism last week. But will that last and for how long?

Trade the gaps in low timeframes.

Good Trading and Trade Safe... always have a stop loss.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #68,598
  • Apr 24, 2016 5:42pm Apr 24, 2016 5:42pm
Quoting leescofield
{quote} Anyway,I learnt many things from Feb until now,first I follow the Ronald Raygun EA development,I knew the knowledge about EA,Then the scalp over the rainbow,PVSRA I get the indicators I still using now.Then nonlag dots,I leanrt the bastket trade and basic knowledge about ATR. I spend many hours learning,practising. Now I need more knowledges for me to learn.I am start finding other good forums or website to learn more things.
Hi lee!

I see you have a great desire to learn and master the discipline of trading. I do also. But reading your post I had to think off the attached PDF. I think I spot stage 2 in your post. Would you agree?

Best,
Attached File(s)
File Type: pdf A Forex Trader's Learning Cycle.pdf   188 KB | 632 downloads
  • #68,599
  • Apr 24, 2016 6:04pm Apr 24, 2016 6:04pm
Quoting mazibee
Newbie Question ( sorry for if already asked) How to study the old charts? What to look for in the old charts and how to use that historical data to improve the trading TMS 5 Method Again if someone can suggest how to back test the TMS 5 Method on the MT4, ( I am using MT4 broker Alpari )
Hi,

What is more important is what do we want to achieve in doing back-testing. back-testing is not the same as forward testing in live market environment. The same as doing demo trading in live marker is also not the same as live trading with real money.

What do we want to learn in doing back-testing is important.

To learn the TDI characteristics and its behaviour reacting to the price action, we can simply run the MT4 strategy tester and select the TDI to run in the tester. Also you can compare different version of the TDI by running them in the strategy tester.
See this post:
http://www.forexfactory.com/showthre...58#post8752558

There are pros and cons in doing back-testing:
Read this post:
http://www.forexfactory.com/showthre...15#post6943815

We can discuss more on back-testing this week. So please post your questions and I'll try help you all here.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #68,600
  • Apr 24, 2016 6:08pm Apr 24, 2016 6:08pm
Quoting tibovwh
{quote} Hi lee! I see you have a great desire to learn and master the discipline of trading. I do also. But reading your post I had to think off the attached PDF. I think I spot stage 2 in your post. Would you agree? Best, {image}

deserves ...

everyone goes through every of the phases, its a cycle.

thank you tibovmh!
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
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