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Monitor for 'Trading Made Simple' system 565 replies

Trading Made Simple the right way, and other trading lessons 334 replies

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MTF Indicators for the 'Trading Made Simple' system 241 replies

Trading Made Simple system follower - Thanks to eelfranz 9 replies

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Trading Made Simple

  • #72,621
  • Oct 25, 2016 8:17pm Oct 25, 2016 8:17pm
Quoting Trader MT4
{quote} Hi Brian, TMS is TREND trading, no Consolidation trading. TDI did not work correctly in Consolidation. Here in your situation, you must switch to 15 min, and try to find TREND. (LH, LL, LH,LL,...etc) {image}
Thanks for your comment.
I will try to identify the Trend first next time.

And are there any reasons for switch to 15minutes but not 30min or 1 hour?
  • #72,622
  • Oct 25, 2016 10:15pm Oct 25, 2016 10:15pm
[quote=Daniel 777;9213603]
Quoting emmanuel7788
{quote} you made good profits with this trade did you protect your remaining at BE at minimum. we shall see what the weekend gap will be like when NY opene on Sunday afternoon. I closed my last position 0.08680. we do not predict the market, we trade the sentiments of the market and TMS 5-Method will lead the way. Thanks Emmanuel. Yes, I am now at BE and I am just going to leave this trade at BE and see what happens. Will play it by ear and look at PASR as we go :-). {image}

Closed my second portion of EUR/USD short yesterday pm (GMT time) when I saw pressure building for a retrace.
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  • #72,623
  • Oct 25, 2016 10:25pm Oct 25, 2016 10:25pm
Quoting Daniel 777
{quote} Here is a trade I am taking on the Daily Chart with the Open on Sunday PM. It is on the AUD/JPY Daily. We have a Red crossing Green on the Second APB candle. Price is below 200EMA, rejecting overhead Resistance at BRN 80 and red TDI line is pointing around 3pm. So, (big thank you Tekkies for your observation about the angle of the Red line a few posts back). Trading 1% of account short split into 5 positions... Taking 1st profit at 78.50. All comments welcome :-) {image}

Dear Traders,

Here is a Daily TMS trade that I have just been stopped out on - I posted the set up when I took it and would love to learn from this. My reasoning for taking the set up is above. What should I learn from this ?
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  • #72,624
  • Oct 25, 2016 10:42pm Oct 25, 2016 10:42pm
[quote=Daniel 777;9218156]
Quoting Daniel 777
{quote} Closed my second portion of EUR/USD short yesterday pm (GMT time) when I saw pressure building for a retrace. {image}

this pair went nowhere since Monday - trading in very narrow range between 1.0850 and 1.0900.
It's waiting for the next market event/news to fill orders.
D1 chart traders see that it is deep in oversold region so they tend to be buyers, but what do you see on the Weekly and Monthly charts?
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #72,625
  • Oct 25, 2016 10:46pm Oct 25, 2016 10:46pm
Quoting Daniel 777
{quote} Dear Traders, Here is a Daily TMS trade that I have just been stopped out on - I posted the set up when I took it and would love to learn from this. My reasoning for taking the set up is above. What should I learn from this ? {image} {image}
Well that is against trend, so you have to be careful on those trades, and i mark in circle (yellow) some support(resistance(mistake naming) on pic), so from my side i wouldn't take it because of the support and is countertrend
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  • #72,626
  • Oct 25, 2016 10:53pm Oct 25, 2016 10:53pm
Quoting Daniel 777
{quote} Dear Traders, Here is a Daily TMS trade that I have just been stopped out on - I posted the set up when I took it and would love to learn from this. My reasoning for taking the set up is above. What should I learn from this ? {image} {image}
What I see is the following:

1) The Weekly price action is above the 5EMA so it is buy bias according to the 5-Method basic rule.

2) On the D1 chart, any sell setup is short term and is against the longer term 'trend' which is the Weekly.

3) On the D1 chart, there is support seen to the left of your chart, so that is one of the risk in that setup. But it is still ok to sell and grab a few pips which often work for scalpers provided you look at one timeframe lower. This is something which Big E mentioned a few times in his old thread.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #72,627
  • Oct 25, 2016 11:07pm Oct 25, 2016 11:07pm
Quoting eelfranz
2scoops.... .... Anyone else notice that... Feel free to use the yellow line on the TDI if it gives you more confidence. I just never have. I'm wanting your success any way I can help you... Big E
Feel free to use the yellow line on the TDI if it gives you more confidence.

When you use the Yellow line, which is also known as the Market Base Line MBL.
note that the MBL is actually a Bollinger Band of the RSI data set to period 34 instead of the default period 20. Why period 34 and not period 20?

With the MBL comes with the Volatility Bands (the Blue bands) therefore when you use the Yellow line like what Big E suggested if that give you more confidence, then you can as well use the Blue bands too which is derived from the MBL. There are good features in using the MBL and its VB to stay out of market consolidation.

Big E was a great person , he wants us to have success trading his 5-Method.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #72,628
  • Oct 25, 2016 11:21pm Oct 25, 2016 11:21pm
Quoting bunne
Hi guys, I want to thank all of you for being so helpful, I really love the teamspirit in here One of my first trades, please feel free to comment. Good entry? Bad entry? Did I better avoid because of something (like the stoch not being so favorable to buy)? I went in but now the trade turned into a little loss and the "real price" is under the 5ema. I understood that I only need to see to the AH candles, but suppose if the AH candle goes below the 5ema, do I wait out the candle or sell in certain conditions immediately? thanks! bunne {image}...

You should read Post#1, if you want to make trading simple and use Big E' indicators and template in Post#25.

then read Post#261... this is the core of the 5-Method

then Post#647 ... make sure you have this post as your checklist every time you see a trade setup

make sure you do forward testing is live market condition with a demo account. You need to do at least 1,000 trades then only you will see what your trade performance will be. Do not be attracted to what some people claims they have above 70% win rate in just a few trades. At minimum you need to see your first 1,000 trades or a 2 to 3 years regular trading to be able to see if you have the CONSISTENCY in trading this 5-Method.

This is serious business when you want to make money to supplement your day job income. Treat your demo account trading like real money. If you earn say $50k per annum salary, then try trading with a $50k trading account deposit and use a money management strategy and test your MM strategy to see if you can make 5% to 10% every 20-trading days (about one month) consistently over 2-3 years.

If you trade with $500 account, that is trading with money you can afford to lose and you will lose many of these $500 accounts in 3 years.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #72,629
  • Oct 25, 2016 11:26pm Oct 25, 2016 11:26pm
Quoting emmanuel7788
{quote} Feel free to use the yellow line on the TDI if it gives you more confidence. When you use the Yellow line, which is also known as the Market Base Line MBL. note that the MBL is actually a Bollinger Band of the RSI data set to period 34 instead of the default period 20. Why period 34 and not period 20? With the MBL comes with the Volatility Bands (the Blue bands) therefore when you use the Yellow line like what Big E suggested if that give you more confidence, then you can as well use the Blue bands too which is derived from the MBL. There...
"Big E was a great person , he wants us to have success trading his 5-Method."

And Emmanuel you are very generous in your time, contributions and advice. It's very nice of you to continue in the footsteps of Big E by assisting many of us that are trying to learn what Big E has left us... Thank you!
  • #72,630
  • Oct 26, 2016 12:12am Oct 26, 2016 12:12am
Quoting Daniel 777
{quote} Dear Traders, Here is a Daily TMS trade that I have just been stopped out on - I posted the set up when I took it and would love to learn from this. My reasoning for taking the set up is above. What should I learn from this ? {image} {image}
Do you see the W -pattern in your chart? The price action makes a TV satellite antenna formation, with a protrusion or a spike inside the curve in the middle of the formation?

This pattern is VERY common, and is almost always going the same way, that is, after the protrusion is over, the curve continues to form "the other side of the antenna".

Does this help?
  • #72,631
  • Oct 26, 2016 2:07am Oct 26, 2016 2:07am
Quoting catalin_eros
{quote} But Grif, Emm's positions are not full positions. He splits them into 5. So even if the SL gets hit, then the loss is smaller than if he entered with full risk position. Let's take an example: I have a 10 000 dollar account, I want to risk 1% on a trade, the SL is 200 pips. So the risk is 100$ and the lot size should be maximum 0,05, right? So the full risk position should be 50 cents per pip. Emm splits that into 5 parts, so that makes it 0,01 lots (10 cents per pip). The distance between MEME trades let's say is 40 pips. Now let's assume...

Catalin-eros,

To tell you the truth. I have been trading since 1980s and I had never and would never risk 15% to 30% of my trading account per trade.

http://www.forexfactory.com/showthre...60#post4609460

http://www.forexfactory.com/showthre...79#post4609879

That is not my money management strategy to risk that kind of of high percentage. For many years, I learned to trade with R and R-Multiple with %Risk and Position Sizing. That has been my money management strategy and had help me grow my trading account by 10% every 20-trading days.
10% maybe small for some traders, but to me 10% is my SMART target.

You are one of the few who have a good grasp of entries and exits.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #72,632
  • Oct 26, 2016 2:28am Oct 26, 2016 2:28am
Quoting emmanuel7788
{quote} why not post those 7 losing trades and I can share with you my 10,000 hours experience so that you can also develop those skills I have. without trading skills you will depend on your luck which more often than not will abandon you when most needed. trading is like in most sports, you need practice, practice, practice,... hours of Deep Practice because in sports competition you must reach peak performance at that right moment in order to win. Go ask any sport coach if luck plays any role in peak performance to win.
Thanks Emmanuel,

The losing strikes were with the Malone strategy, I am now going for the TMS method and will show the graphs whenever I don't understand whats happening.

I do have some question about trading entry times:

-what time do you guys place your orders and what time do you avoid trading (not talking about news but like for example after NY close till opening Sydney or Tokyo etc.). I saw bigE talking about 4hrs TF at those times and avoiding 4hr TF during london open etc... I still have no clue when its the best time to trade and when to avoid markets
-which pairs to avoid (I hate the NZD pairs, lost a lot in the past...)

thanks,
bunne
  • #72,633
  • Oct 26, 2016 2:34am Oct 26, 2016 2:34am
Quoting emmanuel7788
{quote} AUDCAD Oct 25 SE/SE trade closed. trade taken in H1 and with H4 view. {image}
Hi, Emm!

Here is my second SESE entry on AC, D1, long, taken at the break of the high, as I had said in a previous post:
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I exited a little earlier than my TP, but hey, a win is a win.
  • #72,634
  • Oct 26, 2016 2:40am Oct 26, 2016 2:40am
Quoting catalin_eros
{quote} Hi, Emm! Here is my second SESE entry on AC, D1, long, taken at the break of the high, as I had said in a previous post: {image} I exited a little earlier than my TP, but hey, a win is a win.

Hi,

very nicely done...

I am in NZDCAD and aiming for the BRN 0.9600 and I need USDCAD to wake up from it slumber.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #72,635
  • Oct 26, 2016 2:52am Oct 26, 2016 2:52am
Quoting bunne
{quote} Thanks Emmanuel, The losing strikes were with the Malone strategy, I am now going for the TMS method and will show the graphs whenever I don't understand whats happening. I do have some question about trading entry times: -what time do you guys place your orders and what time do you avoid trading (not talking about news but like for example after NY close till opening Sydney or Tokyo etc.). I saw bigE talking about 4hrs TF at those times and avoiding 4hr TF during london open etc... I still have no clue when its the best time to trade and...

Hi,

I know many traders here who stopped trading the aggressive entry style of Big E and they all moved on to the Synergy Advanced trading model since few years ago. It is conservative but with their own money management strategy, they are mostly profitable. None of them would want to risk more than 3% of their account deposit for every trade.

If you are new to trading, I suggest you only trade those 8 pairs which Big E traded between 2008 and 2010. The market has changed a fair bit since then and we need to make adjustments when we trade the H4 charts.
Tell me which broker sever time you use.

Set up your TMS Monitor to show only the Big E' 8 pairs and get the alert set up for you. See below.
The current H4 will close in one-half hour and we already can see which pairs have trade opportunity.

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The worst time to trade H4 is during my bedtime, which happens to be after London close until Sydney open. My new H4 candle opens one hour after Tokyo open. After that I check every 4-hours.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #72,636
  • Edited 3:13am Oct 26, 2016 2:57am | Edited 3:13am
I have been using the tms watchdog on H1 the original posted by plamendp first so that I have version that does not move during a candle and second because I can backtest the actual alerts so I know how good the signals are. I have found that if I take those good signals that are inline with the higher timeframe tdi and take into account divergence and support and resistance, there are very few signals that actually go wrong. I do not refresh the indicator at all during the day so I can get a good log of how the signals have worked. Since doing this I understand what griffinssoul is trying to say and what eelfranz said all along and I am very pleased with how it is going.
Success means going from failure to failure without loss of enthusiasm
  • #72,637
  • Oct 26, 2016 3:04am Oct 26, 2016 3:04am
Quoting emmanuel7788
{quote} Hi, First comment, you should show the 5-Method setup trade setup on your Weekly chart first because when you show trades on H4, they do not look like 5-Method trade entries. This will not help those newbies who still have not develop the skill to look at multi-timeframe price action by just looking at one lower timeframe chart like H4. When you show open trades on lower timeframe charts, you should also know where your average entry price is for all open trades basket/position. Knowing the average entry price and your stop loss level is...
You used to say that we should not consider TDi when we are looking at TFs higher than D1. So how can we have 5-method on W1 then?
Thanks to Grif, I have shown the reasons for entering that trade, so that the newbies won't get confused. So it should all be fine now.

I have your average entry price indi, but I have developed my own method with ME/ME, and I am eager to discuss it with you. You are part of the group that Tibo initiated, but you are not active. I've also sent you a contact request on skype, because I want to share the method with you, and I want to know your opinion. If you think it is a good idea, then it can be shared with the group and afterwards in the thread.

I am slowly and steadily developing my own third eye. I took the Van Tharp Institute test about a year ago, and this was my result:
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Watch out, Emm! I am right behind you!
  • #72,638
  • Oct 26, 2016 3:17am Oct 26, 2016 3:17am
OK caught a good one, exit strategies wait for the TDI starts to flatten or hook? Or just look at the previous resistance? This is 1H

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  • #72,639
  • Oct 26, 2016 3:25am Oct 26, 2016 3:25am
Quoting emmanuel7788
{quote} trade the D1 chart and you don't worry with the news and how the market reacts to news. GBPAUD ME/ME trades for this Oct month so far.... it's sell, sell, sell, ... sell only until ? know when you have to cut some losses and know when to let your profits run. {image}
About this chart... one question, Emm: wasn't the candle that I marked an invalidation ? Or perhaps you took it from a HTF and you were only managing it on D1, because that would make sense.
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  • #72,640
  • Oct 26, 2016 3:43am Oct 26, 2016 3:43am
[quote=emmanuel7788;9218172]
Quoting Daniel 777
{quote} this pair went nowhere since Monday - trading in very narrow range between 1.0850 and 1.0900. It's waiting for the next market event/news to fill orders. D1 chart traders see that it is deep in oversold region so they tend to be buyers, but what do you see on the Weekly and Monthly charts?
I am out of EU, about 3 pips above BE. I do not like how EU is behaving so far. It stalls. And I believe Euro got stronger after yesterday's Draghi speech. If it had gotten weaker, then I would have surely still be in a sell.

Neither of my sell stop or my sell limit got triggered.
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P.S.: I remember someone saying that your chart was photoshopped, because it looked exactly like mine does right now. But now I see those were only pending orders, not photoshop drawings. I guess that person did not know what he was talking about, but he was quick with the accusations. Just for the record, it was someone who is not active in this thread.
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