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Trading Made Simple

  • #74,601
  • Jan 9, 2017 6:38pm Jan 9, 2017 6:38pm
Quoting Nik-Nyc
Quick question for the group . . . i recently opened a demo account with a futures brokerage to do some additional testing and familiarize myself with Sierra Charts. It's early days, but thus far Sierra seems like a great platform. Nonetheless, i am having difficulty setting up the TDI (realtime). My understanding is you must 1)set-up the RSI, then 2)Apply 3 moving averages to the RSI data. Seems simple enough, but i would appreciate feedback regarding my RSI settings: Sierra RSI.png;2132525 The last input: Average Type is creating the confusion....

Hi Nik,

before you do that, check if your platform has standard indicator which plot the "Moving Averages of RSi".

I use ATPro platform and it provide several of such indicator shown in pic below:

Attached Image (click to enlarge)
Click to Enlarge Name: ATPro MA of RSI.png Size: 47 KB


regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #74,602
  • Jan 9, 2017 6:45pm Jan 9, 2017 6:45pm
Quoting Nik-Nyc
Quick question for the group . . . i recently opened a demo account with a futures brokerage to do some additional testing and familiarize myself with Sierra Charts. It's early days, but thus far Sierra seems like a great platform. Nonetheless, i am having difficulty setting up the TDI (realtime). My understanding is you must 1)set-up the RSI, then 2)Apply 3 moving averages to the RSI data. Seems simple enough, but i would appreciate feedback regarding my RSI settings: Sierra RSI.png;2132525 The last input: Average Type is creating the confusion....

Hi,

here is my suggestion what to do:

before you apply any moving average to the RSI, just setup one RSI and see that on your chart sub-window.
RSI has only 2 settings:
- the period
- the price type (usually High,Low, Close, Open, Typical, Median,Weighted).

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #74,603
  • Jan 9, 2017 7:01pm Jan 9, 2017 7:01pm
Quoting emmanuel7788
{quote} Hi, here is my suggestion what to do: before you apply any moving average to the RSI, just setup one RSI and see that on your chart sub-window. RSI has only 2 settings: - the period - the price type (usually High,Low, Close, Open, Typical, Median,Weighted). regards,
Thanks Emmanuel,

Unfortunately, Sierra does not have "moving average of RSI".

Below is a pic from the manual of built-in indicators for Sierra:

Attached Image (click to enlarge)
Click to Enlarge Name: sierra rsi manual.png Size: 61 KB


I appreciate any input you may have . . .

Thanks,
N
  • #74,604
  • Jan 9, 2017 7:10pm Jan 9, 2017 7:10pm
Quoting emmanuel7788
{quote} Hi, here is my suggestion what to do: before you apply any moving average to the RSI, just setup one RSI and see that on your chart sub-window. RSI has only 2 settings: - the period - the price type (usually High,Low, Close, Open, Typical, Median,Weighted). regards,
Emmanuel,

The chart below has an RSI in sub-window 1, and MA's based on the RSI in sub-window 2. The RSI setting are posted in the second pic.

Attached Image (click to enlarge)
Click to Enlarge Name: rsi-tdi chart (2).png Size: 95 KB

Attached Image (click to enlarge)
Click to Enlarge Name: Sierra RSI.png Size: 47 KB


Thanks again
N

Edit: perhaps the solution is changing to "Simple" from "exponential" for "average Type".
  • #74,605
  • Jan 9, 2017 7:13pm Jan 9, 2017 7:13pm
Quoting Nik-Nyc
{quote} Thanks Emmanuel, Unfortunately, Sierra does not have "moving average of RSI". Below is a pic from the manual of built-in indicators for Sierra: sierra rsi manual.png;2132611 I appreciate any input you may have . . . Thanks, N {image}

the standard setting should be =2.
it compares the current candle Close with the previous candle Close... and does the computation.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #74,606
  • Jan 9, 2017 7:17pm Jan 9, 2017 7:17pm
Quoting Nik-Nyc
{quote} Emmanuel, The chart below has an RSI in sub-window 1, and MA's based on the RSI in sub-window 2. The RSI setting are posted in the second pic. rsi-tdi chart (2).png;2132613 Sierra RSI.png;2132615 Thanks again N Edit: perhaps the solution is changing to "Simple" from "exponential" for "average Type". {image} {image}

Looks ok to me.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #74,607
  • Jan 9, 2017 7:22pm Jan 9, 2017 7:22pm
EURGBP rallies ...
potential target 0.8765, .. 0.8840

Attached Image (click to enlarge)
Click to Enlarge Name: EURGBP Week 02 Jan 10.png Size: 58 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #74,608
  • Jan 9, 2017 8:53pm Jan 9, 2017 8:53pm
Good evening. Firstly, this is clearly one of the most family oriented threads I have ever seen. The guidance and care displayed by most persons is unbelievable. I've been trading this approach for a while and it has been relatively profitable especially compared to other methods. But there is something I have never been able to confirm / understand and am hoping that someone can assist.

Using the 5-method, what is considered to be the second candle? Is it the change in one colour to another followed by a repeat of the last colour or is it any second candle that forms above/below the 5EMA irrespective of how many similar colour candles there were before?

In reading Big E's documentation, I understood it to be the second same colour candle that forms above/below the 5EMA with no previous similar colours. So for example, I took a buy when red changed to blue near the 5EMA (Candle 1) and then the second blue candle formed above 5EMA. But I am not 100% sure that my application is correct.
  • #74,609
  • Jan 9, 2017 10:23pm Jan 9, 2017 10:23pm
Quoting emmanuel7788
EURGBP rallies ... potential target 0.8765, .. 0.8840 EURGBP Week 02 Jan 10.png;2132619 {image}
Took the same trade last night
may I ask how do you design your target?
For me I just simply set on the next resistance or support at around 0.889 (your orange line)...
Thanks in advance
  • #74,610
  • Jan 9, 2017 10:47pm Jan 9, 2017 10:47pm
Quoting emmanuel7788
EURGBP rallies ... potential target 0.8765, .. 0.8840 EURGBP Week 02 Jan 10.png;2132619 {image}
Damn, that is a sexy trade!
I totally missed it
  • #74,611
  • Jan 10, 2017 12:45am Jan 10, 2017 12:45am
I have a question guys... how do you guys calculate your TP? I normally see people with targets (one, two, three) but I myself when I enter a trade, don't have a target. I just keep monitoring the trade and if I see the RSI going flat or hooking, I get out.
Is there any system to find TPs?

Is it by using Fibo or you only use Fibo to find about retracements?
  • #74,612
  • Jan 10, 2017 2:59am Jan 10, 2017 2:59am
Quoting dcblair
Good evening. Firstly, this is clearly one of the most family oriented threads I have ever seen. The guidance and care displayed by most persons is unbelievable. I've been trading this approach for a while and it has been relatively profitable especially compared to other methods. But there is something I have never been able to confirm / understand and am hoping that someone can assist. Using the 5-method, what is considered to be the second candle? Is it the change in one colour to another followed by a repeat of the last colour or is it any second...
Hi dcblair,

Your approach as you describe it sounds perfect to me ... " So for example, I took a buy when red changed to blue near the 5EMA (Candle 1) and then the second blue candle formed above 5EMA."

When a TDI cross takes place and the APB#1 closes and let's say you have already entered the trade during APB#1, then ideally, you want APB#2 to be the same colour as that confirms that the momentum of the price action is continuing. If, that doesn't happen, you need to watch the chart closely to see if you need to close the trade (better to cut early and re-enter if you were wrong than to watch losses build) or to see the trend continue. If also the price crosses the 5EMA then that helps to confirm your entry decision.

Looks to me like you know what you're doing ... carry on.
All for one and one for all
  • #74,613
  • Jan 10, 2017 3:20am Jan 10, 2017 3:20am
Quoting fcaldas
I have a question guys... how do you guys calculate your TP? I normally see people with targets (one, two, three) but I myself when I enter a trade, don't have a target. I just keep monitoring the trade and if I see the RSI going flat or hooking, I get out. Is there any system to find TPs? Is it by using Fibo or you only use Fibo to find about retracements?
Hi fcaldas,

I understand why you ask the question, as many posts on this thread mention target prices but these targets will vary from trader to trader for many reasons (trading style, aggressive/passive, long-term/short-term, pip targets, $ targets, fib targets, big round numbers, etc.).

Exit rules and strategies are quite a personal thing and emotionally are more difficult to execute than taking an entry, however, if we stick to the TMS rules then what you are doing is right. Exit when the green line flattens or hooks.

So don't worry too much about targets for now but always look back at each closed trade and see how the price reacted to major supports/resistances, big round numbers, etc., keep a journal (could I have made more profit, should I have cut sooner, etc.). Do this and in time you will build your own exit strategy which may mean, for example, when the green line flattens, I will hold on to the position or only close half, because the momentum (price action, red line, yellow line, etc.) is still showing underlying strength.

Hope that makes sense. Be patient, observe but don't over-analyse.
All for one and one for all
  • #74,614
  • Jan 10, 2017 4:15am Jan 10, 2017 4:15am
Hey guys

I have seen this indicator/tool being used but cant find it - Does anyone know what its called or where it can be found. It basically tell you how many pips you are up or down on your trading

I would appreciate the help
Attached Image
  • #74,615
  • Jan 10, 2017 6:01am Jan 10, 2017 6:01am
Quoting cvgreen46
{quote} Hi dcblair, Your approach as you describe it sounds perfect to me ... " So for example, I took a buy when red changed to blue near the 5EMA (Candle 1) and then the second blue candle formed above 5EMA." When a TDI cross takes place and the APB#1 closes and let's say you have already entered the trade during APB#1, then ideally, you want APB#2 to be the same colour as that confirms that the momentum of the price action is continuing. If, that doesn't happen, you need to watch the chart closely to see if you need to close the trade (better...
Thanks cvgreen.
  • #74,616
  • Jan 10, 2017 7:56am Jan 10, 2017 7:56am
Quoting emmanuel7788
{quote} Look at this chart below. Two version of the TDI Red Green top version is the original version which paints when the candle closes. below version is the realtime version which paints in realtime follow the price tick. Note the time to the current H1 candle is 28min25secs to close time. What do you see? This should answer your question. AUDUSD H1 Jan 9 TDI compare002825.png;2131023 {image}

Hi Emmanuel,

Makes sense- where do I download the Real time tdi?

Kind regards,
Roni
  • #74,617
  • Jan 10, 2017 8:39am Jan 10, 2017 8:39am
Quoting JanCeulemans
{quote} Thank you Cygreen46. Your reply encourages me. I am happy to know that, indeed, my intentions are understood for I realy mean well. I also would like to thank Luvene for the email he sent me, basicly saying the same as you did. I am happy to be amongst you. When I first discovered this thread I was moved by it's serenity and the positive vibes in here. I was moved by the way Eelfranz wrote and expressed his feelings in what he wanted to do and what he did not want to happen. The system itself prooved itself very soon in my trading and I...
Jan, this is little late but I would like to add that I was shocked that anyone could be so rude to you. I read all your posts; they are very informative and educational. Thank you for all you contribute.

awm
  • #74,618
  • Jan 10, 2017 12:09pm Jan 10, 2017 12:09pm
Quoting Roni26
{quote} Hi Emmanuel, Makes sense- where do I download the Real time tdi? Kind regards, Roni
http://www.forexfactory.com/showthre...71#post6625171
  • #74,619
  • Jan 10, 2017 1:57pm Jan 10, 2017 1:57pm
Hi fellow TMS traders

Today, for the first time since I started working with TMS I faced my first bigger loss. I want you to understand that this was NOT caused by the strategy (TMS) but purely by myself. In My Trading Journal of today I have described my thoughts of today.

My biggest concern is still my moneymanagement. I think I may state that I have understood TMS quite well. It is not that. I have traded the system and in general it workes very well. Even today. However, the markets can sometimes decide something different and there is where it goes wrong if it goes too far.

So, I have to ask you.. if possible and if you have some spare time left, maybe you want to read my comments on my Journal and maybe you can give me some money managment tips. Specialy those who trade TMS on 4H charts.

Going to research a bit more on money management comming days....
First comes knowledge about yourself, then comes a system...
  • #74,620
  • Jan 10, 2017 4:26pm Jan 10, 2017 4:26pm
Quoting Nik-Nyc
{quote} http://www.forexfactory.com/showthre...71#post6625171
Hi Nik-Nyc,

Thanks for the tdi post- however after some indepth analysis I have found that the tdi crosses on the real time are exactly the same as the ones i was using before.

Could there be a mistake? Could there be another real time tdi file?

Sorry for the bother guys youve been great so far!

Roni
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