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Trading Made Simple

  • #72,981
  • Nov 2, 2016 10:44am Nov 2, 2016 10:44am
Quoting hsn100
CADCHF D1..... {image}
Beautiful waterfall!
  • #72,982
  • Nov 2, 2016 11:20am Nov 2, 2016 11:20am
Two morning quickies (TOK_5H), AN on H4 and EN on H1.
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I did not plan on trading H1, exception TOK_5H, but I saw two hammers on H4, and D1 was still up, so I entered. AC, H1, long, and nailed it.
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  • #72,983
  • Nov 2, 2016 11:24am Nov 2, 2016 11:24am
Just an FYI ... I have noticed on a few posted charts a news window ... well, I found this (MT4 News Calendar) and it is very useful ... you can position it in any window and it shows the time to the next news release ... kinda helpful me thinks.
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you can find the file here http://www.forexfactory.com/attachme...6&d=1414434812
or the thread here http://www.forexfactory.com/showthread.php?t=326551
All for one and one for all
  • #72,984
  • Nov 2, 2016 12:15pm Nov 2, 2016 12:15pm
Quoting hsn100
CADCHF D1..... {image}
Nice one ... maybe you should move your stop to BE
All for one and one for all
  • #72,985
  • Nov 2, 2016 2:00pm Nov 2, 2016 2:00pm
Does anyone here actually trade the TDI the way it;s meant to be ?
so short below 50 and yellow line and vice versa for longs?
  • #72,986
  • Nov 2, 2016 6:35pm Nov 2, 2016 6:35pm
Quoting shay14
Does anyone here actually trade the TDI the way it;s meant to be ? so short below 50 and yellow line and vice versa for longs?
I know someone who trades the Moderate style.
And not everyone trade the Scalping style like Big E
But anyone who need more confidence should trade the Active style

No matter which style you chose, you need one thing paramount, i.e. the discipline to trade.

Entry conditions

Scalping -
Long = Green over Red,
Short = Red over Green

Active –
Long = Green over Red & Yellow lines
Short = Red over Green & Yellow lines

Moderate–
Long = Green over Red, Yellow, & 50 lines
Short= Red over Green, Green below Yellow & 50 line

If you need more information to study the TDI and its behaviour, goto this and follow the links.

Post#72,156

Enjoy!
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #72,987
  • Nov 2, 2016 6:46pm Nov 2, 2016 6:46pm
Quoting lahcenFX
GBP/USD BUY What do you think emmanuel 7788 {image}

Hi lahcenFX,

sorry for this late reply after so many hours of your trade entry.

Hindsight is 20:20 vision therefore I can say a lot based on hindsight.

But the usual thing I do when I look for when I plan for trade is to zoom out to see the Previous Price Action PPA and look for potential confluence of several support and resistance on my trading chart timeframe.
There is PPA in the previous week 42 and The BRN 1.2300. But I see the GBP is recovering some lost ground since Brexit. Still too early to say if there will be a mini-bull run.
I find it difficult to trade this pair after Brexit with its narrow range days. But I will choose GBPAUD, GBPNZD and GBPCAD pairs instead.
Attached Image (click to enlarge)
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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #72,988
  • Nov 2, 2016 7:14pm Nov 2, 2016 7:14pm
Quoting muyir
HI Emmanuel, From your BPP, I can see you categorize market into 3 types, trending, wide sideway, narrow sideway. And you think TMS does not fit for narrow sideway. Would you share a little more how you confirm the market type? Use D1 position trade as example, do you just look at W1/MN charts which is kind of subjective? Or use some objective method, like market SQN which Dr. Van Tharp uses? muyir

Hi,

For trend trading systems, most will not be suitable when trading in narrow range market condition. TMS is the same. I am sure Big E did mention in his posts about this type of market condition and he would say, go look for another trade. He looked at previous reversals which is his way to look at support and resistance.

For my forex trading, I don't use Van Tharp's SQN approach to define the market types. I have my own approach for stock trading which is related to the individual stock market indices and the market's industry groups.

As for TMS, the market type conditions are seen from my Big Picture Planning.
It is a combination of the price action analysis, average trading range and market volatility.
Price Action PA analysis of price patterns - like bar/candle patterns, charts patterns or waves patterns, historical swing highs/swing lows, etc.
PA analysis like big candles or Wide Range Bar WRB analysis, Master Candle MC, are some of the many ways to forecast ranging market, potential corrections, etc.
For market volatility, some traders use the Price Action Channel, or the Bollinger Band or Starc Band.
Always use the Triple Screen Trading System approach by Dr Alexander Elder and modify that using the TDI or RSI.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #72,989
  • Nov 2, 2016 7:17pm Nov 2, 2016 7:17pm
FOMC did not surprise. In 15 mins is AUD Trade Balance and forecast is negative.
Is AUDUSD direction clear?
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #72,990
  • Nov 2, 2016 7:31pm Nov 2, 2016 7:31pm
Quoting caah
Hi All & Emm It has been some time since last post, over past week my primary PC (with multiple monitors) has experienced issues so i am trading off secondary notebook (single screen). Apart from comfort from main PC, lesson learn't is to perfect my trade prior to entry via multiple timeframe approach and KISS. Previously i entered when PA wasn't quite right or jumping the gun then trade can play with your emotions. Understand new month has commenced however my return so far is in positive territory. When entering ME/ME is below technique ok to...

Hi caah,

Thanks. I'll surely enjoy my coming year end vacation, visiting places and meeting relatives, friends and of course some traders.

Just one note when you do ME/ME, be careful with your overall risk exposure when you add further trades in your trade direction.
Always have a maximum risk in your trade plan and do not exceed that maximum risk. Always have your trades protected when you add on new positions.
Think of how to add on new positions with banked-in profits. This is one way to make your money work for you... trade like investors, buy more with locked profits.

Trade Well.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #72,991
  • Nov 2, 2016 7:41pm Nov 2, 2016 7:41pm
Quoting catalin_eros
Two morning quickies (TOK_5H), AN on H4 and EN on H1. {image} {image} I did not plan on trading H1, exception TOK_5H, but I saw two hammers on H4, and D1 was still up, so I entered. AC, H1, long, and nailed it. {image}
You do love morning quickies, don't you?

I like those Guppy MA lines on your H1 chart. They are like using the 50EMA and 200EMA when I used to trade H1 and M15.
Maybe you can explain how the Guppy moving averages can be of use to those who are still struggling to profitable trading with the 5-Method. This can give them moe confidence to look for trade opportunities and make some real money.

Good Trading.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #72,992
  • Nov 2, 2016 7:44pm Nov 2, 2016 7:44pm
Quoting brian661
A question on trading in New York hour As the market hour start from 1200 UTC but for my mt4's 4hour time frame, the candle open in 1000 and 1400 UTC. So should I refresh the TDI on 1200 UTC and trade immediately?

One hour after Tokyo open is a new H4 candle... i.e GMT 0900.
Is this what your trading chart shows?
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #72,993
  • Edited 11:39pm Nov 2, 2016 11:17pm | Edited 11:39pm
EURUSD Week 44 Thursday Nov 3.

Just having a chat with few traders and we talked about where EU will head towards. We do not know what caused the recent days rally, but many speculations about election jitters, etc. market analysts always have something to say and kind of fun reading all different views.
Below is my view seen with my TMS 5-Method chart template.
I still favour buy until the D1 turn around and that will take minimum 2 candles price action.
But we know the herd mentality - they react at moving averages and RN and BRN. We as TMS 5-Method traders, we react using Price Action and that 5EMA, Typical Price, Shift+3 as our trade direction. we do not trade when the price is in contraction or consolidation, no trading when candles are small, be patient and wait for the right moment when that 5-Method setup candle appears.

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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #72,994
  • Nov 2, 2016 11:41pm Nov 2, 2016 11:41pm
Quoting emmanuel7788
EURUSD Week 44 Thursday Nov 3. Just having a chat with few traders and we talked about where EU will head towards. We do not know what caused the recent days rally, but many speculations about election jitters, etc. market analysts always have something to say and kind of fun reading all different views. Below is my view seen with my TMS 5-Method chart template. I still favour buy until the D1 turn around and that will take minimum 2 candles price action. But we know the herd mentality - they react at moving averages and RN and BRN. We as TMS 5-Method...
Great Stuff Great chart.. very clear directions.. stuck it on mt screen...THKS
  • #72,995
  • Nov 2, 2016 11:51pm Nov 2, 2016 11:51pm
many of you may use this adr average daily range indicator.
if you have average monthly range indicator please share with us.
if not have amr, can use create same indicator for monthly range.
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MA provides the market's current direction and strength.
  • #72,996
  • Nov 2, 2016 11:57pm Nov 2, 2016 11:57pm
Quoting emmanuel7788
{quote} One hour after Tokyo open is a new H4 candle... i.e GMT 0900. Is this what your trading chart shows?
Oh, seem I made a mistake.
yes, the new 4 hour candle is one hour after Toyko open (UTC 0000).
For London and New York market hour start at 0800 and 1200, which is exactly the new 4 hour candles open.

One another question, should we trade as soon as possible after the market London and New York open?

Thanks
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  • #72,997
  • Nov 3, 2016 1:13am Nov 3, 2016 1:13am
Hi Everyone,

First time to post in this thread. I've been demoing this method for more than a month now so far im on the positive side. However still got a handful of losing trades(I know there will always be losing trades though not expecting much as Big E states there'll be around 70-80% chance of winning). While demoing this method i kept reading the thread and Craig Harris Stochastic Method from where this thread started. And now i saw this post of Big E:

http://www.forexfactory.com/showthre...23#post4516723

His posts #4071, #4074, #4076 got me confused thinking maybe im doing something wrong in the timing of the entry. please someone clarify when should i entry, should i wait for the close of the bar that creates the TDI cross or when I see the TDI cross at the open of new bar i must enter? from posts 4071, 4074, 4076 I think Big E entered on the open where the TDi first crossed (meaning he did not wait for the candle to close).

See this chart for better understanding, should i enter the trade at open of candle 1 or candle 2?

Thanks,

Oreo
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  • #72,998
  • Nov 3, 2016 1:21am Nov 3, 2016 1:21am
Quoting brian661
{quote} Oh, seem I made a mistake. yes, the new 4 hour candle is one hour after Toyko open (UTC 0000). For London and New York market hour start at 0800 and 1200, which is exactly the new 4 hour candles open. One another question, should we trade as soon as possible after the market London and New York open? Thanks {image}

Take note that the London open has been changed this week and the NY open will be changed this Sunday due to winter time DST.

Always know your own local time and your broker server time when the H4 candle closes and a new one opens. Also know every market session open and closing hour when you are trading intraday H1 and M15.

Attached Image (click to enlarge)
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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #72,999
  • Nov 3, 2016 1:31am Nov 3, 2016 1:31am
Quoting Oreo07
Hi Everyone, First time to post in this thread. I've been demoing this method for more than a month now so far im on the positive side. However still got a handful of losing trades(I know there will always be losing trades though not expecting much as Big E states there'll be around 70-80% chance of winning). While demoing this method i kept reading the thread and Craig Harris Stochastic Method from where this thread started. And now i saw this post of Big E: http://www.forexfactory.com/showthre...23#post4516723 His posts #4071,...

Hi Oreo,

I suggest you open your H1 charts and observe the TDI behaviour in realtime and follow the price action of every H1 candle while it is live moving. The TDI will respond to the price bar Close price if you use the TDI Red Green set to the default setting 13,0,34, 2,0,7,..

Do you know which is the 5-Method setup candle?
If you do not wait for the H1 candle to close to confirm the trade setup candle, you must be very good at reading the reversal price action or else you will be taking more risk than it is necessary.

Do you really want to be an aggressive trader like Big E? I decided years ago not to trade like him and remain to be a conservative trader. My win rate is 65% and with an Expectancy of above 2.5, I don't have to compare to Big E' win rate of 70% to 80%.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #73,000
  • Nov 3, 2016 1:33am Nov 3, 2016 1:33am
Quoting hasib
many of you may use this adr average daily range indicator. if you have average monthly range indicator please share with us. if not have amr, can use create same indicator for monthly range. {image}

why do you want to use the average monthly range?

If you are trading H4, I think the average weekly range would work well to see on your H4 chart the weekly swing low - swing high and use that for target exit planning.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
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