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Trading Made Simple

EURAUD Big Picture Plan update Week 20 May 19.

Just had a quick review with a few full time traders here and thought I share my BPP for EA to trade in the coming days ahead.
May not happen this week, but the current PA is very close to the BRN which was tested by several days Highs.
The market does not promise anything to anyone. As traders we need to be diligent in our work and be consistent in everything that we do.

Remember DISCIPLINE is one of the many keys to unlock your potential and create your own winning edge in this trading as a business.

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I am looking to buy above 1.5600 with target 1.5900. We shall see what the amrket will do in the following days.

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Trade Well and always trade with stop loss to preserve your trading capital.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
Quoting jamboole
Closed positions on gbp/chf after holding 2 weeks. total 1025pips. sweet)) happy pips to all {image}
Quoting jamboole
closed 4 positions and still holding at BE. very profitable month. BRAVO tdi))) {image}

Very good trading.

Patience is a part of the DISCIPLINE which all traders need to have.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
Quoting emmanuel7788
{quote} {quote} Very good trading. Patience is a part of the DISCIPLINE which all traders need to have.
thanks a lot. getting consistent profitable months more than half year. what do you think Emm, am i ready to go real, or not yet?

summary of the month.All positions closed, i think there is no need to search for setups till the end of the month...

happy pips to all
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Quoting emmanuel7788
{quote} very good trade. a perfect trade example exactly what Post#647 described the price action. very good example of a 'follow previous candle' CONTINUATION trade trading is made simple and easy too. observe how the previous week' Close and Low played as support and resistance, confluence of the previous days' Day Open, 200EMA and also that BRN 1.1300 Trade Well folks.
Hi Emm, you are right, this is very good example for post #647. Thank you for remind me about previous week close and low, previous days day open, 200EMA and also BRN 1.1300. I have question about WRB, if there is big candle but its pullback candle, and have small body, can we call it WRB? i got example on picture below:

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Quoting emmanuel7788
{quote} {quote} Very good trading. Patience is a part of the DISCIPLINE which all traders need to have.
Hello Emmanuel, I started this long trade on USD/CAD when the PA broke last weeks high. I know you are a Position building trader, but I wonder where your target would be if you traded single entry. I targeted the next daily resistance at 1.31500 but I would like to hear your opinion on this.
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Quoting Mbt
{quote} Hello Emmanuel, I started this long trade on USD/CAD when the PA broke last weeks high. I know you are a Position building trader, but I wonder where your target would be if you traded single entry. I targeted the next daily resistance at 1.31500 but I would like to hear your opinion on this. {image}

Hi,

Your small Android screen is too small to see the big picture.

If you are trading the 4H swing, the 52-weeks ATR is 275pips and since today is Thursday and this week's low has been established and the current trend is strong we can target the weekly ATR(52) weeks from the week' low. You can possibly push for 120% of that 275 pips but you must lookout for big candles and that may follow with small candles consolidation. Should this happen, I would pull out when I see small candles changed colour.

But for longer term, I see the next target at 1.3300 provided you can convert this to a Day position trade with your entry protected.

Now you have to manage on H4 by following the price action.

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Manage well for maximum pips.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
Quoting jamboole
{quote} thanks a lot. getting consistent profitable months more than half year. what do you think Emm, am i ready to go real, or not yet? summary of the month.All positions closed, i think there is no need to search for setups till the end of the month... happy pips to all {image} {image}

Hi,

It is a big decision to go live trading with your hard earned money. You need to look at your business plan and know what your trading capital is for a start and how many percent you are looking at for the 20-trading days cycle. You should target 5 to 10% for every 20 trading days and keeping drawdown to as small as posiible below 5% DD is good. Anything close to 10% is risky.

You must focus on 4H Swing and Day Position trading and not to be tempted trading H1 and below. Most traders trading H1 and lower timeframes will lose money.

Looking at your equity chart, the drawdown of 15% is not healthy and recovery from 15% is very difficult. You need to look back to those losing trades and see how you can avoid those types of losses and learn if there is possible ways to cut those losses earlier and recover the losses quicker.

To reach 10% in fewer number of trading days, you need to add positions when your trades are protected at breakeven and also learn to protect profits and use the profits to open more positions in strong trending market type.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
I AM PUTTING OUT A CALL! HONK HONK!


Is there any TMS traders of any experience level (that means newbie or experienced) that reside here in Florida? Especially in the Daytona Beach Area? I would like to make a group. Anyone interested should PM me.



Emm - On another note I would like to ask you a question. You have mentioned in the past that the most dangerous 4hr candle to trade is the one at USA open. I am on EST time and my candle opens at 8am and all the news happens at 8:30.... Could you give guidance as to how to trade at this time? Would you wait for 15 minutes after the news has past? Thanks.

LL
"IN CASH WE TRUST"
Quoting LazyLobster
I AM PUTTING OUT A CALL! HONK HONK! Is there any TMS traders of any experience level (that means newbie or experienced) that reside here in Florida? Especially in the Daytona Beach Area? I would like to make a group. Anyone interested should PM me. Emm - On another note I would like to ask you a question. You have mentioned in the past that the most dangerous 4hr candle to trade is the one at USA open. I am on EST time and my candle opens at 8am and all the news happens at 8:30.... Could you give guidance as to how to trade at this time? Would you...
I am interested. I live in Melbourne Fl not so far. Please let me know more about it
Quoting BridgeWater
{quote} Hi Emm, you are right, this is very good example for post #647. Thank you for remind me about previous week close and low, previous days day open, 200EMA and also BRN 1.1300. I have question about WRB, if there is big candle but its pullback candle, and have small body, can we call it WRB? i got example on picture below: {image} {image}

If memory serves me correctly, a WRB defined is a bar that is higher in height than the previous 3 (or 4 or 5) bars.
There is an indicator in the paper clip section titled WRB. If you use it, configure the inputs "use whole bars = true,
look back = 3 (or what you like), and both colors = none". The colors give hidden gaps which are unneeded in
TMS. Your chart showed 2 WRbs and I'll bet the indicator will give 10 or 12 more.

Best to you.........
Hi Emm,
when you take a entry, do you keep attention for yellow line,


regards, dan
Quoting emmanuel7788
{quote} {quote} Well Guys, this shows that I must finish my TMS trading book sooner than planned and all will be clear. There is light at the end of the tunnel. But you must make sure there is no oncoming train. {image}
I must say this is so deep
Ok so during last weekend I was looking at the AUD pairs in general...
looking at the AUD/CAD here. I see that the price is hitting a strong support on the weekly/day charts. so I thought this can be a big reversal for AUD pairs.
wanted to just make sure that I can get the ticket of my very first real bus in my demo account.
When the market opened last Monday I kept a close eye on 4hr-15min charts to see if something gonna happen. TDI in both 1 day and 4hr chart was below 32
but then I saw some important news coming for AUD so thought hmmm this new can drive the market to actually break the support or just a reason for the bus reversal. Any way I waited and on Wednesday, I saw that the market is reversing so I waited for the next Ticket sale and entered the trade yesterday
on the chart:
the blue line is when Monday opened.
the red line is when I took the trade.
this is my first try for trying to get into the big move and build nice positions for that castle
anyway pls feel free to share comments or anything. And pls Educate me if you thing I am in the wrong move. ( I would really want to know my mistakes)
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Quoting mabooz
Ok so during last weekend I was looking at the AUD pairs in general... looking at the AUD/CAD here. I see that the price is hitting a strong support on the weekly/day charts. so I thought this can be a big reversal for AUD pairs. wanted to just make sure that I can get the ticket of my very first real bus in my demo account. When the market opened last Monday I kept a close eye on 4hr-15min charts to see if something gonna happen. TDI in both 1 day and 4hr chart was below 32 but then I saw some important news coming for AUD so thought hmmm this...
My View only price

No price action seen on daily. There are couple of trouble areas very close on the upper side. Price still making LL. trade safe. Remember we have CAD news today.
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Sad i'm not trying to understand PA
Quoting omonisha
{quote} My View only price No price action seen on daily. There are couple of trouble areas very close on the upper side. Price still making LL. trade safe. Remember we have CAD news today. {image}
Thank you for the education. I really appreciate your time for taking my comment as consideration for further explanation
Quoting mabooz
Ok so during last weekend I was looking at the AUD pairs in general... looking at the AUD/CAD here. I see that the price is hitting a strong support on the weekly/day charts. so I thought this can be a big reversal for AUD pairs. wanted to just make sure that I can get the ticket of my very first real bus in my demo account. When the market opened last Monday I kept a close eye on 4hr-15min charts to see if something gonna happen. TDI in both 1 day and 4hr chart was below 32 but then I saw some important news coming for AUD so thought hmmm this...

market went sideways after last Thursday' May 12 Day candle. Nothing early this week suggest a bullish reversal when the market type is sideways in the range of that May 12 WRB. We can possibly trade lower timeframe using that Day WRB high-low as support and resistance.
Study the TDI characteritics on the Day chart and you will see how to tell when the market goes sideways after the price action above.

In trending market type, there will pause or rest before the next big move. We do not know if the trend will continue or reverses. We wait for the new trend to be established then jump into the market.

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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
Quoting Trader MT4
Hi Emm, when you take a entry, do you keep attention for yellow line, regards, dan

Hi,

yes, when trading the lower timeframes it is better to use the full TDI.
Newbies should use the full TDI as it will help them gain more confidence in picking the better trade setups using the yellow MBL as a filter.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
Quoting emmanuel7788
{quote} Hi, yes, when trading the lower timeframes it is better to use the full TDI. Newbies should use the full TDI as it will help them gain more confidence in picking the better trade setups using the yellow MBL as a filter. regards,


Hey Emm

So we would wait for the green to pass through the red and yellow line?
Hi folks,

Been a while.. I hope everyone is still doing well. Kind of busy with work but still trying to glance at my charts a few times a day and take trades on the D1 TF. I have a great last two weeks with ME/ME. I will try to keep this up (clearly this is unsustainable) and post regular summaries.

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6% since 11/05

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Currently some DD on GU but SL will move to below Friday when market opens Sunday.

Good weekend all,
Quoting Jenn4rex
{quote} Hey Emm So we would wait for the green to pass through the red and yellow line?

Remember that TMS 5-Method is price action trading and that is reason why Big E said that we look at the price action first then the TDI second.
The TDI only shows the price momentum of different periods. The Green line is simply a moving average of the RSI data and is a shorter period than the Red line.
When we buy we want the momentum to be rising i.e. Green must be above the Red. For sell, the Green must be below the Red. It is not easy to trade the aggressive way Big E did unless you have more than 6,000 trading hours like he had up to the time he started this thread in April 2011. Sadly he passed away in Oct 2012

Choose your trading styles using the TDI – Scalping, Active and Moderate
Post#24,705, Post#23,486, Post#24,912, Post#51,153, Post#51,299, Post#56,578 Post#57,351, Post#57,394

Download the TDI realtime non-repainting version here:
TDI-RT version Post#17,848
and change the default settings to of the Synergy_Pro_TDI settings: Post#59,624

Make sure you read these two important posts: Post#261 and Post#647.
These posts give a simple summary of TMS 5-Method and also the basic forex stuff we check when we look for the TDI setups to trade.
Practice demo trades in real-time market and unlock the secrets of Post#647 and pick the best setups.

You need to decide what your trading business hours are and the chart timeframe you want to trade.
I recommend that you start by trading the 4H Swing on H4 chart timeframe and also Position trading on D1 chart timeframe.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
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