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Trading Made Simple

  • #71,161
  • Sep 7, 2016 3:06am Sep 7, 2016 3:06am
Quoting pips29
{quote} I would not be looking at a long until price can remain above the 76 level. Price was rejected at this brn and since then we have made lower high and lower low. Imo, it's safer to wait for the next H4 close to decide
Gotcha will keep an eye and see how it reacts to that level. thanks
The starting point of all achievement is desire.- Napoleon Hill
  • #71,162
  • Sep 7, 2016 6:50am Sep 7, 2016 6:50am
Quoting mousteven
Good evening Emmanuel, I have PM you 3 days ago regarding the question below: "You mentioned long long time ago about the software tool you used for trade analysis, may you share it with me? Post 19,293 " also, one more question, every week you'll choose 5 best pairs with plan A and B (and sometimes plan C ) to trade, and 3 backup pairs just in case. And then use TMS monitor to alert you the TDI cross..etc. I want to ask if you only look at these pairs you have chosen...
Quoting emmanuel7788
{quote} Hi Steven, ok. will reply PMs later. Too many PMs in backlog this week, so I need to clear the urgent ones first. regards,

Hello Emmanuel,

I would be thankful if you would share your answer on the second part of mousteven's questions with us. Like mousteven, I am struggling with the amount of pairs and information and things going on. As a first solution, I have tried to restrict myself on two pairs only and to ignore the rest, mainly trading H4 and D1. But I didn't stick to my own rules for long... especially in D1 I have started trading additional pairs again. .... Now I am thinking about going back to 2 or 3 pairs, one for H4 and two for ME/ME.

What do you recommend newbies in this regard?

Thank you for sharing so much know how with us all.
Best regards, blackfriday
  • #71,163
  • Sep 7, 2016 8:23am Sep 7, 2016 8:23am
Quoting emmanuel7788
Kiwi making new high. No sign of it topping yet. Zoom out and look at the previous price action PPA and potential target exits. No selling until we see reversal with Price Action setups with TDI as our confirmation. Trends do not turn around in violent moves. Trends ends in consolidation when price fails to make higher high higher low.... small candles. No point in guessing that the market will turn around at some magical pivot, S&R levels, etc. Market price creates those pivots S&R anyway to trap retail traders especially the rookies traders. TMS...
do you have any idea why the jpy moved so dramatic at tokyo open? is it just tokyo japenese traders selling the usd and buying the yen due poor ism number (us news)

I am asking you because your the best trader I know who understands these things..
It's in fear when people show what they truly value.
  • #71,164
  • Sep 7, 2016 5:39pm Sep 7, 2016 5:39pm
Quoting ensale
{quote} do you have any idea why the jpy moved so dramatic at tokyo open? is it just tokyo japenese traders selling the usd and buying the yen due poor ism number (us news) I am asking you because your the best trader I know who understands these things..
I have no idea.
I read all kinds of stuff written by market analyst, economists, fund managers traders, etc. they all seems to know everything and have answers to anything that happens in the market place. Last weekend there was the G20 meeting, then BoJ Kuroda made a statement on Monday, that did not move the market and the US market was closed. Liquidity flows between the market, it builds up but we retail traders cannot see where. It just needed someone somewhere to make that move to buy Yen this week. That has nothing to do with any pivot level as rookie traders believed and they all sold Yen at some magical S61 and S78 levels and went horribly wrong.
Look at the UJ MN chart, Yen has been bullish since Jan 2016. That's the market sentiments but it tanked between 101.30 and 100.40, look at those recent support and resistance on the left of your chart.

Being a TMS trader for many years, what I care about is to learn not to trade when market price contracts and wait patiently for the move to happen then I follow.

TMS 5-Method what Big E taught us and it works in this simple way.
Do not trade when we see small candles.
Do not trade when we see big candles.
Look for recent support and resistance, no indicators required, just plain simple price action seen with the APB candles, swing high, swing lows. No pivots required, just the plain old price levels 00 and 50 levels. Every swing high can be resistance, every swing low can be support.
Look for the direction of the price using the 5EMA Typical Price, Shift+3
Look for the setup candle, the candle which closes above the 5EMA for buy and below the 5EMA for sell.
Let the TDI confirms the price action setup and pull the trigger.

Nothing has changed to the 5-Method since Big E passed away in 2012.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #71,165
  • Sep 7, 2016 5:49pm Sep 7, 2016 5:49pm
Quoting emmanuel7788
Kiwi making new high. No sign of it topping yet. Zoom out and look at the previous price action PPA and potential target exits. No selling until we see reversal with Price Action setups with TDI as our confirmation. Trends do not turn around in violent moves. Trends ends in consolidation when price fails to make higher high higher low.... small candles. No point in guessing that the market will turn around at some magical pivot, S&R levels, etc. Market price creates those pivots S&R anyway to trap retail traders especially the rookies traders. TMS...
Attached Image (click to enlarge)
Click to Enlarge Name: NZDUSD Week 36 D1 chart PPA for targets.png Size: 87 KB


NZDUSD Sep 8 Tokyo open,
yesterday we saw first target level reached.
I am confident we hit the next target which is a BRN which is not too far away.
Not to worry if that happens or not. I focus on my task for trading, i.e. to protect the downside of all my trades,and let the market decide the upside.

Attached Image (click to enlarge)
Click to Enlarge Name: NZDUSD Week 36 Sep 8 H1 TOK.png Size: 56 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #71,166
  • Sep 7, 2016 6:04pm Sep 7, 2016 6:04pm
You'll know that you are trading as a professional when your reaction to a loss is the same as a win: Neutral, Calm, Focused on what's next.
  • #71,167
  • Edited 9:32pm Sep 7, 2016 9:15pm | Edited 9:32pm
EUR GBP Daily Reversal Pattern - Morning star
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Attached File(s)
File Type: pdf CANDLES.pdf   87 KB | 669 downloads
  • #71,168
  • Sep 7, 2016 9:37pm Sep 7, 2016 9:37pm
Quoting emmanuel7788
Here is one more suggestion to those who intent to trade TMS in 2015 and will be making your trading plans over the year-end holidays. If you want to trade TMS H1 on Intraday basis, start simple and include in your Intraday H1 trade plan any five(5) types of H1 setups which you will look for and make samples of charts and include these in your trading business plan. I have done my H1 trade plan just this morning and it was pretty easy because I had them already and I only reviewed them and updated my document update to 2015. The five(5) common setups...
Thanks for the introduction. But I have a question of the Daily open line. How to confirm the timezone? Such as I live in the GMT 8, i want use Tokyo Open at as my Day Open.?
  • #71,169
  • Sep 7, 2016 9:43pm Sep 7, 2016 9:43pm
GBPJPY Daily
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  • #71,170
  • Sep 7, 2016 10:26pm Sep 7, 2016 10:26pm
Quoting Jordanlc
{quote} Thanks for the introduction. But I have a question of the Daily open line. How to confirm the timezone? Such as I live in the GMT 8, i want use Tokyo Open at as my Day Open.?
Hi,

your Day open depends on your broker server time.
I have different brokers, one broker has server time GMT+3 which show Sydney open as the new day open. Tokyo open 3 hours after Sydney. I simply use this broker as my Day Open for all my trade planning. back in 2014, it was different because my broker then used Tokyo Open as the new day.
In your time zone GMT+8, your Sydney open is 5am and Tokyo open is 8am your local time and you must take not of this.

Different broker server time will show different H4 candles but this will not affect your trading. This will mean you will see different bar pattern or candlestick patter, but there is no different in the realtime price. Pick one broker server time and stick to that for consistency.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #71,171
  • Sep 7, 2016 10:32pm Sep 7, 2016 10:32pm
Quoting Trader MT4
GBPJPY Daily {image} {image}
That's a D1 trade setup...

Yesterday the market stalled at BRN136.00 and I did something naughty. Instead of sell with my usual standard lot, I open many small mini-lot trades. Let's see if market will drop to the next BRN 135.00 and I can boast I make 1,000 pips in a 100pips move from 136 to 135.
I could have traded micro lots and then make 10,000pips... lots of pips but the money is the same as my standard lot trades.
What is the edge in trading small lots? NONE! Just some fun to make lots of pips what rookie trader enjoys.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPY Week 36 small lots fun with pips.png Size: 36 KB
.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #71,172
  • Sep 7, 2016 11:26pm Sep 7, 2016 11:26pm
GBPAUD Daily
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  • #71,173
  • Sep 7, 2016 11:30pm Sep 7, 2016 11:30pm
Hello all, i am newbie in TMS,
With GU chart, i entry sell GU. It is true with TMS?
Attached Image (click to enlarge)
Click to Enlarge Name: GU 8.9.png Size: 208 KB
  • #71,174
  • Sep 8, 2016 1:50am Sep 8, 2016 1:50am
Quoting yesmanppa
Hello all, i am newbie in TMS, With GU chart, i entry sell GU. It is true with TMS? {image}

Hello,

it is more difficult to trade when the H1 candles are small.
H4 is in consolidation.
D1 is still in the buy direction with the price action above its 5EMA.

Frankfurt open and London open candles are usually tricky to pick the best setups.
Don't give up. Trading take lots of screen time to gain more experience and master the art of trading with TMS.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #71,175
  • Sep 8, 2016 1:52am Sep 8, 2016 1:52am
Quoting emmanuel7788
{quote} That's a D1 trade setup... Yesterday the market stalled at BRN136.00 and I did something naughty. Instead of sell with my usual standard lot, I open many small mini-lot trades. Let's see if market will drop to the next BRN 135.00 and I can boast I make 1,000 pips in a 100pips move from 136 to 135. I could have traded micro lots and then make 10,000pips... lots of pips but the money is the same as my standard lot trades. What is the edge in trading small lots? NONE! Just some fun to make lots of pips what rookie trader...

Haha Emm,

I'm sure ive been sucked into trading rooms and programs over the years with that type of pip counting.

I'm still on a bit of a high finding this system here, Its been about a week since starting to trade this system, my 4hr account is up 3.6% and my open trades on the 4hr Acc are currently up about 12% (714 pips) and the Daily account open trades are up around 7% (919 pips) (could be more or less by the time I close them) I have also found that the trades haven't gone to full initial stop loss as ive been able to adjust it and or get out early if TDI or candle changes direction/colour. Now to figure if I should close all and run for the week or let them play out.

Thanks again for all your helpfull posts etc
Attached Image (click to enlarge)
Click to Enlarge Name: Daily & 4hr Update 08092016.PNG Size: 42 KB
  • #71,176
  • Sep 8, 2016 2:08am Sep 8, 2016 2:08am
Thank you very much.
please check my template is ok all Indicator?
So my trade is not good.
Should I Out trading orders? What time TGM, chart time you usually trade?
Attached Image(s) (click to enlarge)
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  • #71,177
  • Sep 8, 2016 4:10am Sep 8, 2016 4:10am
Quoting yesmanppa
Thank you very much. please check my template is ok all Indicator? So my trade is not good. Should I Out trading orders? What time TGM, chart time you usually trade? {image} {image}
Hi, yesmanppa.
Each trader use different indicators. But the heart of TMS is TDI. I (advises Emma) use this options.
There is no reason to trade if there is no reason to trade.
  • #71,178
  • Sep 8, 2016 4:20am Sep 8, 2016 4:20am
Quoting StarGazer2
{quote} Greatly appreciated marionetka
Hi StarGazer. I have mistake. You need other TDI, which don't repaint lines. Instead of Post:#14, you need Post:#17848.

regards
There is no reason to trade if there is no reason to trade.
  • #71,179
  • Sep 8, 2016 7:45am Sep 8, 2016 7:45am
EUR/GBP diver 4h
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  • #71,180
  • Sep 8, 2016 9:50am Sep 8, 2016 9:50am
Quoting emmanuel7788
{quote} That's a D1 trade setup... Yesterday the market stalled at BRN136.00 and I did something naughty. Instead of sell with my usual standard lot, I open many small mini-lot trades. Let's see if market will drop to the next BRN 135.00 and I can boast I make 1,000 pips in a 100pips move from 136 to 135. I could have traded micro lots and then make 10,000pips... lots of pips but the money is the same as my standard lot trades. What is the edge in trading small lots? NONE! Just some fun to make lots of pips what rookie trader...
ding ding it hit to the pip.. nice trade..

kerching!
It's in fear when people show what they truly value.
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