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Trading Made Simple system follower - Thanks to eelfranz 9 replies

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Trading Made Simple

  • #69,321
  • Edited 5:01pm Jun 1, 2016 4:48pm | Edited 5:01pm
Hi eelfranz and all his happy helpers,

I just want to say thank you for this thread. I have been trying to learn Forex since December 2015. I say trying because i have read lots of different information and alot of it seemed overly complicated. Personally i do not have the time or want to sit glued to the charts throughout the day as i have a full day job and a family to look after. So trading 1-4 hours suits me perfectly.

So thank you for this thread/system, I will start study old chart data and get myself familar with the data.

One thing i would like to ask though is if you can validate my chart setup? So i use MT4 with Admiral Market and used the indicators from post #25 http://www.forexfactory.com/showthre...49#post4569749

So what i did is i opened GBP/USD 4H and dragged and dropped Heiken Ashi indicator to the chart, then i loaded the template "#1 best 5 ma tdi" and i got the attached screenshot. But the candles looks like they have a graphic problem?

Is there something wrong with the Heiken Ashi indicator i am using? also i have seen references to a Heiken Ashi smoothed? Any advice here would be greatly appreciated.

EDIT: Am i meant to drag and drop the Heiken Ashi indicator on to the chart? because if i just load the template i do not see the same funky graphics.
Attached Image (click to enlarge)
Click to Enlarge Name: Image 1.png Size: 106 KB
  • #69,322
  • Jun 1, 2016 5:16pm Jun 1, 2016 5:16pm
Quoting swetrader
​Is there any indicator that can give me alerts every time the TDI makes a cross? Cheers
Here are couples TDI-alert indicators. Personally I am not use these indicators. I manually scan TDI cross every 4 hours and check PASR.

Cheers;
Attached File(s)
File Type: mq4 TDI Red Green Alerts mod. 2015.fxdaytrader.mq4   29 KB | 416 downloads
File Type: mq4 TMS_Angleator V3 - RT.mq4   15 KB | 424 downloads
File Type: ex4 TMSTDI_WatchDog.ex4   23 KB | 380 downloads
  • #69,323
  • Jun 1, 2016 7:02pm Jun 1, 2016 7:02pm
Quoting antonym
{quote} Sir, With yesterday price action on EURAUD, would you consider closing the basket / cut loss short? Did you start a recovery trade? How should one manage the trade under such situation? Thank you.

Hi,

with that Week 21 Pin Bar closed, that was threatening all buy positions and when we moved our SL to trail behind using 2 candles look back.
Also as it was approaching month end and seeing that both AUDUSD and EURUSD were bottoming, EURAUD remains sideways narrow range, the move above 1.5600 will not happen.
We need to watch closely hos this week will trade and since we have a new month, we wait for a setup on the Weekly and follow on the Daily.

All eyes are on the GBP pairs this month ... June 23 deadline.
Look closely at EURGBP.

Trade Well.
Attached Image (click to enlarge)
Click to Enlarge Name: EURAUD Week 21 Pin Bar closed.png Size: 33 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #69,324
  • Jun 1, 2016 7:02pm Jun 1, 2016 7:02pm
I am wondering somewhere out there someone try to implement this deep practice machine learning algo (A.I.) or is it already trading ?

Inserted Video



http://pybrain.org/pages/features
  • #69,325
  • Jun 1, 2016 7:16pm Jun 1, 2016 7:16pm
Quoting inforserve
I am wondering somewhere out there someone try to implement this deep practice machine learning algo (A.I.) or is it already trading ? https://www.youtube.com/watch?v=fEM7YDNonSE http://pybrain.org/pages/features
Try this thread: http://www.forexfactory.com/showthread.php?t=516785
Simplicity is the ultimate sophistication - Leonardo da Vinci
  • #69,326
  • Jun 1, 2016 7:30pm Jun 1, 2016 7:30pm
Quoting heispark
{quote} Try this thread: http://www.forexfactory.com/showthread.php?t=516785
Thanks for your information.
  • #69,327
  • Jun 1, 2016 8:46pm Jun 1, 2016 8:46pm
Quoting emmanuel7788
{quote} Hi, with that Week 21 Pin Bar closed, that was threatening all buy positions and when we moved our SL to trail behind using 2 candles look back. Also as it was approaching month end and seeing that both AUDUSD and EURUSD were bottoming, EURAUD remains sideways narrow range, the move above 1.5600 will not happen. We need to watch closely hos this week will trade and since we have a new month, we wait for a setup on the Weekly and follow on the Daily. All eyes are on the GBP pairs this month ... June 23 deadline. Look closely at EURGBP. Trade...
Thank you. With AUDUSD bottoming and a setup on daily, do you think it would be a good idea to build position on daily? Target would be 0.7400 to 0.7450.
  • #69,328
  • Jun 1, 2016 9:02pm Jun 1, 2016 9:02pm
Quoting inforserve
{quote} Thanks for your information.

AUDUSD Week 22 Consolidation breakout setup.

Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD Week 22 conolidation breakout setup May 31.png Size: 63 KB


still possible to catch this setup with SL below the consolidation area.

be aware it is counter the recent big move down and this can only be a correction of that big move.... no reversal until we see that on weekly.

do your %risk and position sizing.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #69,329
  • Jun 1, 2016 9:09pm Jun 1, 2016 9:09pm
EURUSD Week 22 June 2 Daily:

Possible to take a counter trend trade with %risk and position sizing.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD Week 22 June 2 Daily trade.png Size: 64 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #69,330
  • Jun 1, 2016 9:54pm Jun 1, 2016 9:54pm
Watchlist for June 2016

GBPCAD Week 22

Attached Image (click to enlarge)
Click to Enlarge Name: GBPCAD Week 22 watchlist for June.png Size: 88 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #69,331
  • Jun 2, 2016 5:17am Jun 2, 2016 5:17am
AUD/USD +30 pips. I entered at 23.00 (UTC+2). Unfortunately I cannot post a chart showing the trade because I don't know how to upload a screenshot on FF from a Mac.
  • #69,332
  • Jun 2, 2016 1:02pm Jun 2, 2016 1:02pm
Hi Emmanuel,

Sorry for bothering you again.

I need help regarding the position sizing, lot size calculation I have tried searching the forum where you have mentioned the ENRY / EXITS , position sizing

I have also bought few books of Van Tharp
Trade Your Way to Financial Freedom
Financial Freedom Through Electronic Day Trading
Super Trader

and still reading

In the mean time I plan to start with £5000 account (mini/ micro) , I want to demo with the same amount before going live and am using Alpari MT4
I plan to do SE/SE at the moment and later once comfortable shift to ME/ME

I want to risk no more than 1% on each trade ( max three trades at a time) Most of my trades are AUDUSD, EURGBP, AUD JPY

Please I am confused on how to put the SL and TP (what to use ADR 100 or ATR 52)

Your help / explanation regarding the above will be highly appreciated.
  • #69,333
  • Edited 8:32pm Jun 2, 2016 5:09pm | Edited 8:32pm
Discipline, I should follow my rule and trading plan. -60 pips. Allmost self-destructive mode.


"Flashing light, flashing light.... look at the wick pullback on the big candle !!!!! wow... I'm expecting a short lived trade... next candle is at the bottom of the TDI check mark with another candle pullback... time to exit... last two candle bottoms are about the same... exit, exit, exit ! "

http://www.forexfactory.com/showthre...ck#post4582253
Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 34 KB
  • #69,334
  • Jun 2, 2016 10:52pm Jun 2, 2016 10:52pm
Quoting mazibee
Hi Emmanuel, Sorry for bothering you again. I need help regarding the position sizing, lot size calculation I have tried searching the forum where you have mentioned the ENRY / EXITS , position sizing I have also bought few books of Van Tharp Trade Your Way to Financial Freedom Financial Freedom Through Electronic Day Trading Super Trader and still reading In the mean time I plan to start with 5000 account (mini/ micro) , I want to demo with the same amount before going live and am using Alpari MT4 I plan to do SE/SE at the moment and later once...
Hi, I think your questoins is too general to be answered. For short-term H1 trading, SL is usually put at the last swing low/high. For MEME type trading, SL depend on your timeframe where the TMS setup candle occurs, i.e., green cross red and APB changed color and closed above 10ema.

If you catch a setup on daily, you look for entries on timeframe lower than daily (H4 or H1), typically you put the SL using the highest or lowest point of the last 2-day candle, or you can use 2 * ATR(100) on daily (you can just use the ATR indicator in MT4 and take note of its latest reading)

Similarly, if you catch a setup on weekly, you look for entries on timeframe lower than weekly (usually it's H4), typically you put the SL using the highest or lowest point of the last 2-week candle, or you can use 2 * ATR(100) on weekly.

The ADR100 is the ATR(100) on daily chart. ATR(52) is usually for weekly chart and used for calculating TP for H4 swing trading. It actually doesn't matter what number you use.

I think one should keep it simple on SL/TP when practicing SE. Even if you use SL=TP, as long as your entry has winning edge and the spread cost does not erode your risk reward, your win-rate will tell if you have an edge in trading.
  • #69,335
  • Jun 3, 2016 3:17am Jun 3, 2016 3:17am
Quoting mazibee
Hi Emmanuel, Sorry for bothering you again. I need help regarding the position sizing, lot size calculation I have tried searching the forum where you have mentioned the ENRY / EXITS , position sizing I have also bought few books of Van Tharp Trade Your Way to Financial Freedom Financial Freedom Through Electronic Day Trading Super Trader and still reading In the mean time I plan to start with 5000 account (mini/ micro) , I want to demo with the same amount before going live and am using Alpari MT4 I plan to do SE/SE at the moment and later once...

Hi mazibee,

Priority #1 now is for you to finish reading those Van Tharp books. When you are done reading, you will start writing your trading business plan.

Meantime forget everything else here what you read about ME/ME, ADR-100 days, ATR-52 weeks, etc. and focus on the 5-Method setups in H1, H4 and D1 chart timeframes. Do demo trades in live market for 2 to 3 years and do not limit yourself to just those currency pairs you mentioned. You should have experience in trading the currency majors and the crosses. In doing demo, you will experience what the market will teach you about stop loss and target profit.
The next most important thing is what should be your trading capital. This will have impact on your business financial goals and also the psychology in managing this business. My experience with many traders whom I know is that they do not trade with small amount of trading capital. All of them trade with a minimum of one year their annual salary of their full time jobs as their trading startup capital. You should start saving up using your day job salary and have that as your trading capital. In my opinion, $5000 as trading capital wont help you achieve your financial goal and also wont make you into a investor/trader. One of the many reasons why most traders lose their money is because of their small trading capital which they think they can afford to lose.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #69,336
  • Jun 3, 2016 6:42am Jun 3, 2016 6:42am
The market is waiting for US NFP and ISM PMI data release to be official.
We shall see how the market will react to weaker data as forecast.
Our priority is to preserve our trading capital and take what the market gave us.
Be back next week after the dust settles.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #69,337
  • Jun 3, 2016 6:49am Jun 3, 2016 6:49am
TMS ME/ME trades closed 13 weeks from Mar 3 to Jun 2.

Attached Image (click to enlarge)
Click to Enlarge Name: TMS MEME trades closed Week 22 (Mar 3 to Jun 2).png Size: 68 KB


Previous week's results:

http://www.forexfactory.com/showthre...68#post8950668
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #69,338
  • Jun 3, 2016 7:05am Jun 3, 2016 7:05am
Quoting emmanuel7788
The market is waiting for US NFP and ISM PMI data release to be official. We shall see how the market will react to weaker data as forecast. Our priority is to preserve our trading capital and take what the market gave us. Be back next week after the dust settles.
Absolutely right, i've closed all of my trades as u rightly put it "to preserve the capital".
Regards,
Winners Never Quit, Quitters Never Win
  • #69,339
  • Jun 3, 2016 8:18am Jun 3, 2016 8:18am
[quote=TampaFX;8956918]Hello All, First I would like to say thank you to all the regular posters on this thread. I wanted to spend 30 days reviewing it before I made my first post. In fact it is my first post on FF! I have been demo trading Forex on and off for two years. Until I started using the TMS system I would take ME/SE fades for short profits. While it was profitable, the drawdowns were tough, and I feel this is a much better system. I backtested several pairs by hand (simple MBL cross not looking at news, trend,etc.). In the past month I have made 7% and I am certain 10% is possible with a little help. I plan to trade the H4 and daily charts. I am using the Synergy Pro APB and Synergy Pro TDI, however I am open to other APB / TDI options. I do have some questions: 1. PAC vs 5EMA shift 2 vs 10 EMA?? Pros and cons....

Hey TampaFX....this is a great collection of questions correlated properly to the specific functions of TMS that I have had for several months, but you've done a great job of summarizing them.
Hey Emm, I know it's a lot to answer, but getting answers to each of these would help our approach to trading with this system.

Thanks in Advance!!
  • #69,340
  • Jun 3, 2016 8:51am Jun 3, 2016 8:51am
Quoting emmanuel7788
TMS ME/ME trades closed 13 weeks from Mar 3 to Jun 2. {image} Previous week's results: http://www.forexfactory.com/showthre...68#post8950668
Wow Emmanuel​

Great Trading In this week 10 trades 10K profit Amazing.


Your Chart is very inspiring

Thanks

MK
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