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Trading Made Simple

  • #69,381
  • Jun 6, 2016 10:56am Jun 6, 2016 10:56am
GBP/JPY on radar....
Attached Image (click to enlarge)
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  • #69,382
  • Jun 6, 2016 1:18pm Jun 6, 2016 1:18pm
@emmanuel:
thanks a lot for all your Input here.helps a lot.
I am trading in the D1-TF and I try to hold positions as Long as I can but most of the time I take my profits very quick after 1-2 Candles.
How do you manage to hold Trades for days or even weeks???
How do you know when to hold a Position longer ?
When do you leave aTrade (after X Candles or so??)?
Please delight this .
Thanks.
Regards Zack
  • #69,383
  • Jun 6, 2016 3:18pm Jun 6, 2016 3:18pm
Is there alternative indicator which we can use with this system, beacuse on platform which I use TDI is not avalibale?
  • #69,384
  • Jun 6, 2016 3:47pm Jun 6, 2016 3:47pm
Quoting skljsklj1
Is there alternative indicator which we can use with this system, beacuse on platform which I use TDI is not avalibale?
you can build tdi with rsi.

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  • #69,385
  • Jun 6, 2016 4:19pm Jun 6, 2016 4:19pm
Quoting skljsklj1
Is there alternative indicator which we can use with this system, beacuse on platform which I use TDI is not avalibale?
If you like here it is 1 version of tdi indicator for you bro
Attached File(s)
File Type: mq4 TDI Red Green.mq4   9 KB | 442 downloads
  • #69,386
  • Edited 8:07pm Jun 6, 2016 6:14pm | Edited 8:07pm
Quoting mkfx
thanks for commenting yes it was UJ long trade. i am cofused ehat should i consider 10 ema or close over opposite side PAC on daily chart.. thanks
TMS friends,

The reason I use 10ema instead of 5ema shift3 because the powerful of 10ema and both EMAs nearly give the same result.
10ema details(I copied from Emmanuel notes long time ago) I also attach 10ema dashboard indicator here too.
I am doing very very short note(TMS Summary Pdf). I will share to you all when it done(soon).

10ema is the King
M15
50 ema @ m15 = 10 ema @ h1
200 ema @ m15 = 50 ema @ h1 = 10 ema @ h4
800 ema @ m15 = 200 ema @ h1 = 50 ema @ h4 = 10 ema @ daily

H1
50 ema @ h1 = 10 ema @ h4
200 ema @ h1 = 50 ema @ h4 = 10 ema @ daily
800 ema @ h1 = 200 ema @ h4 = 50 ema @ daily = 10 ema @ weekly

H4
50 ema @ h4 = 10 ema @ daily
200 ema @ h4 = 50 ema @ daily = 10 ema @ weekly
800 ema @ h4 = 200 ema @ daily = 50 ema @ weekly = 10 ema @ montly

Daily
50 ema @ daily = 10 ema @ weekly
200 ema @ daily = 50 ema @ weekly = 10 ema @ montly
800 ema @ daily = 200 ema @ weekly = 50 ema @ montly . etc...
Attached Image (click to enlarge)
Click to Enlarge Name: 10ema_dash.png Size: 76 KB
Attached File(s)
File Type: ex4 TMS 10EMA Dashboard.ex4   10 KB | 448 downloads
File Type: mq4 TMS 10EMA Dashboard.mq4   8 KB | 488 downloads
  • #69,387
  • Jun 6, 2016 7:44pm Jun 6, 2016 7:44pm
Quoting zackery
@emmanuel: thanks a lot for all your Input here.helps a lot. I am trading in the D1-TF and I try to hold positions as Long as I can but most of the time I take my profits very quick after 1-2 Candles. How do you manage to hold Trades for days or even weeks??? How do you know when to hold a Position longer ? When do you leave aTrade (after X Candles or so??)? Please delight this . Thanks. Regards Zack
Hi Zack,

Good that you learn and trade the Day chart timeframe. This is the most lucrative timeframe to trade and is less susceptible to market noise which you will see in lower timeframes like H1 and below. Trading the Day chart TF also means you need not be stressed out thinking of what to do when there are data release and news which happens often during the hourly market hours. Many newbie traders also find that there are many false signals when they trade H1 because they have not learned that TMS is not about trade signals generated by the TDI and Stochastics. TMS 5-Method is price action trading with proper use of support and resistance as what Big E described in his Post#647. We TMS traders look for price action setups and let the TDI and Stochastics confirms the setup.

Now back to your question - How do I hold trades for days and weeks?

It starts with what I see in my Big Picture Plan. I look at the Monthly chart (Line Chart) and look for historical price swing levels and I will trade between these levels which I have identified on the MN chart. The BPP also will help me determine the market type whether it is trending or sideways. The market is sideways more often that it it trending. When the market is sideways in narrow range, I will not trade with TMS. Look at the market range using the Weekly and Daily trading range using the ATR.

On the Day chart which is my trading chart timeframe, I look at the market volatility and it reference to the previous month OHLC. When the market is trending, it will move in the continuation of the previous Month' Close and its High or Low. What you need to do is use any technical indicator to show you the price volatility movement. Do you have a favourite volatility indicator to use?

The next thing I do is to trail the market on the Day chart using the 2-days look back method. This will enable my trades to run until the market takes out the trailing stops which is 2-days behind. Should the trade stops be taken out, I look for re-entry when the trending condition and volatility are intact and there is no trade invalidation. I also keep track of the Weekly chart price action to see if there is any potential threats to my trade plan.

I will later find free time and do a chart and explain these above.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #69,388
  • Edited 8:04pm Jun 6, 2016 7:48pm | Edited 8:04pm
Quoting emmanuel7788
{quote} I know you mean Prize $50,000. That's attractive even if I have to trade with my own money say $10k deposit. But I can tell you one thing, in such competition, the eventual winner usually end up with above 500% profits.
Hi Emmanuel & friends

Very sorry wrong information.
The contest is not for me anyway(I don't have time for it & profit 10% per month is my goal at the moment. 500% is in my dream).
I just happened to see when I login to my broker(1 million dollars contest - very big exciting) so I just passed you the wrong information sorry(after read more details today).
And the contest is suitable for full time traders anyway not for me or newbies.
Details:-
1. first price only $11,500 for 10 rounds(top 5 traders progress to semi final)
2. Semi final - The top 10 traders travel to Thailand to participate in the $500,000 Final Live Event, with all expenses covered by broker.
3. Final round first price $150,000

For Newbies or Semi-newbies who want to try very little money to test your real performance(nano account = 1cent/pip). My broker gives you $30 free deposit and 50%deposit bonus up to $500. I put $100 to my account so my balance $100 but my equity $180. Because me/me stop loss can be 100-300pips and I want to trade many pairs at the same time so I am not so sure $30 free deposit is enough for trading or not then I put $100 in to my account.
BTW I'm just one of their client I have no benefit at all. I won't deposit big money to this broker(established 2009)

Best regards,
  • #69,389
  • Jun 6, 2016 7:49pm Jun 6, 2016 7:49pm
Quoting skljsklj1
Is there alternative indicator which we can use with this system, beacuse on platform which I use TDI is not avalibale?

some non-MT4 platforms do provide customs TDI but with a different name. This RSI-based method has been around for long time since the RSI was created by J W wilder.

Read these posts:

How to create the TDI using the RSI available in other platform: Post#15,546
Post#30,671

Fozzy RSI Method Post#59,617

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

Trend Determination using the RSI (TDI) Post#26,774
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #69,390
  • Jun 6, 2016 7:55pm Jun 6, 2016 7:55pm
Quoting emmanuel7788
{quote} {quote} AUDUSD and EURUSD: My trade plan for next week. We have seen a nice bullish breakout on NFP Friday for these pairs. The dominant trend is still down and there is no reversal seen yet but we can trade the continuation of last week' bullish candle with ME/ME. For those learning and demo practice with ME/ME, these are good example how you can practice next week. Trade entry is when week open when NY open in few hours. Post your charts with demo trades and ask any questions and I will explain as the week progresses and the trade management....
Hi Emmanuel.

Attached is my demo trade on AUDUSD. I followed your weekly plan and took this trade, not at the ny open but a bit late after the retracement and now I am up 40 pips. Apparently there was a sharp retracement around london close which I could not catch, so for me there was no added position. Yesterday was an indecision candle but manged to close above friday close. Price seems to be struggling to break above friday high. So the question is how I manage this trade? Should I protect my trade by moving SL to breakeven? or take the profit now and wait for retracement? or leave as is now?

Thank you for your assistance.

Cheers.
Attached Image (click to enlarge)
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  • #69,391
  • Jun 6, 2016 8:08pm Jun 6, 2016 8:08pm
Quoting okoso
{quote} Hi Emmanuel. Attached is my demo trade on AUDUSD. I followed your weekly plan and took this trade, not at the ny open but a bit late after the retracement and now I am up 40 pips. Apparently there was a sharp retracement around london close which I could not catch, so for me there was no added position. Yesterday was an indecision candle but manged to close above friday close. Price seems to be struggling to break above friday high. So the question is how I manage this trade? Should I protect my trade by moving SL to breakeven? or take the...
Also a red news coming in few hours time.
  • #69,392
  • Jun 6, 2016 8:10pm Jun 6, 2016 8:10pm
Quoting okoso
{quote} Hi Emmanuel. Attached is my demo trade on AUDUSD. I followed your weekly plan and took this trade, not at the ny open but a bit late after the retracement and now I am up 40 pips. Apparently there was a sharp retracement around london close which I could not catch, so for me there was no added position. Yesterday was an indecision candle but manged to close above friday close. Price seems to be struggling to break above friday high. So the question is how I manage this trade? Should I protect my trade by moving SL to breakeven? or take the...

Hi,

we have big news in about 3 hours. RBA will announce its 1.75% rate. How will the market react? Anybody' guess.
Some traders believe that the long term sellers will tighten their stops which can be above the 50EMA.
Some traders who are buying the correction will wait for pull back to buy more.
We poor retail traders cannot see where all the orders are on our charts. On my Day chart, I make a technical guess that price can reach between 0.7500 and 0.7600, but I do not know how long that will take.
On H1, is a lot of noise as usual, it can spike down to yesterdays' low where there are orders... I'm sure.
On H4, I see a big candle ... WRB low is 0.7334.

Whatever the cases may be, I have 2 open trades which are in floating profit. I will take what the market gives me and fight on with my trade plan.

Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD Week 23 MEME trades.png Size: 26 KB


Trade Well.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #69,393
  • Jun 6, 2016 8:51pm Jun 6, 2016 8:51pm
Quoting mabooz
Too all good Friends. Look at my past and now charts. LOL what I was thinking man these 3469 pages really covered with many fluff. people come by drop stuff and indis then leave thread few days later. Its Big E thread My dark chart style looks soo good especially if you trying to spot that 12-2 , 4-6 angles. I mean after all Big E said TDI is the heart of this whole system. {image} {image}

You are absolutely right. This simple trading method does not need 3469 pages and 60K posts to describe.
A simple trading methodology like this 5-Method does not need 500 posts.
Anything more than 1,000 posts is too much for anyone to read and learn a Method.
Better spend more of our time on the other two Ms - Money Management and Mind.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #69,394
  • Jun 6, 2016 9:34pm Jun 6, 2016 9:34pm
Not sure if this was asked before..... I'm used to reading normal candlestick chart pattern (ie pinbars, engulfing, railroad tracks etc) so when I'm looking at HA candles can I interpret their PA will be the same? (ie Bullish Pinbar for normal candlesticks = Bullish Pinbar in HA?)
  • #69,395
  • Jun 6, 2016 11:50pm Jun 6, 2016 11:50pm
Hi,

Basic rules Eelfranz on the 4H, I took the trade yesterday at 07.00 my time (London +1). Starting time Eelfranz.

This is a real good one If you have questions, be my guest.
I am trading on the 4H and on the Dailies too.
The Dark Blue ones are the times Eelfranz was trading on the 4H. From 10.00 PM Pacific time to 06.00 AM.
The Grey One is closing time EST Time (05.00 PM)
I am using an S/R indicator. It helps me but I don't need it.

Attached Image (click to enlarge)
Click to Enlarge Name: AUDJPY.png Size: 109 KB
Keep it simple without too many crappy indicators!
  • #69,396
  • Edited 1:00am Jun 7, 2016 12:49am | Edited 1:00am
Quoting Rizal123
Not sure if this was asked before..... I'm used to reading normal candlestick chart pattern (ie pinbars, engulfing, railroad tracks etc) so when I'm looking at HA candles can I interpret their PA will be the same? (ie Bullish Pinbar for normal candlesticks = Bullish Pinbar in HA?)

Japanese Candlesticks studies is only use for the candlestick stick chart.

However, since we are using the APB / HA candles, we cannot use the same studies on the APB/HA. But we can look at the Bar Chart pattern which is the same as the Japanese candlestick OHLC.

Read these posts:
Price Action stuff:
Profiting in Forex Post#20,118 by Steve Nison
Three powerful forex pattern pdf... Post#20,110
Hikkake: Post#16,419
Inside Bar : Post#42,301
Mother Bar : Post#55,045
Master Candle : Post#28,556 pdf in Post#25,594
Master Candle (3): Post#54,546
WRB introduction in the pdf TMS 5-Method Basic Rules: Post#53,842
Wide Range Bar study: Post#54,551
Candlestick Patterns PASR for trading TMS Post#23,202 Post#28,601
Candlestick Reversal Patterns Post#17,049
Candlestick Fibonacci and Chart Patterns Trading Tools Post#31,777 (by Robert Fischer)
ThePatternSite by Thomas Bulkowski:
http://thepatternsite.com/CandleEntry.html

Warning: Do Not overwhelmed yourself with too many candlesticks and Bar patterns. Pick those (less than 10 common price patterns) which we see often on our TMS trading charts. Anything more than our ten fingers can count is far too many. Keep it few, Keep It Simple.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #69,397
  • Jun 7, 2016 12:52am Jun 7, 2016 12:52am
AUDUSD Week 23 Day chart trades closed.

Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD Week 23 MEME trades closed RBA.png Size: 22 KB


Closed trade +25pips, kept one open to fight RBA news, +50pips.
Re-entry to start a new basket.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #69,398
  • Jun 7, 2016 1:06am Jun 7, 2016 1:06am
GBP pairs
If you had noticed today, the GBP pairs move during Tokyo session.
We must take care when we trade the London session today.
If the Day chart direction is not clear, avoid take any setup.
GBPCAD is clear for me to continue sell since yesterday open.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #69,399
  • Jun 7, 2016 2:15am Jun 7, 2016 2:15am
Quoting emmanuel7788
{quote} {quote} AUDUSD and EURUSD: My trade plan for next week. We have seen a nice bullish breakout on NFP Friday for these pairs. The dominant trend is still down and there is no reversal seen yet but we can trade the continuation of last week' bullish candle with ME/ME. For those learning and demo practice with ME/ME, these are good example how you can practice next week. Trade entry is when week open when NY open in few hours. Post your charts with demo trades and ask any questions and I will explain as the week progresses and the trade management....

GBPCAD Week 23 trades:
Trade plan in the above post pdf.

Closed two ME trades +150pips, +75pips.
Re-entry to start a new basket.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPCAD Week 23 D1 trades closed and open.png Size: 30 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #69,400
  • Jun 7, 2016 2:31am Jun 7, 2016 2:31am
Quoting emmanuel7788
AUDUSD Week 23 Day chart trades closed. {image} Closed trade +25pips, kept one open to fight RBA news, +50pips. Re-entry to start a new basket.
Hi Emmanuel.

I am sure this has been asked but I'll ask it again. Why do you open a new basket instead of just keeping the existing position open?

Cheers,
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