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Trading Made Simple

  • #74,781
  • Jan 17, 2017 7:28am Jan 17, 2017 7:28am
Quoting emmanuel7788
{quote} 5-Method SETUP candle: TMS 5-Method setup candle.png;2143430 {image}
Would you enter this trade counter trend?? I mainly focus on with trend trades, however this pair has been in a corrective stage with a pinbar prior to the trigger candle.
Successful people do what unsuccessful people are not willing to do
  • #74,782
  • Jan 17, 2017 8:31am Jan 17, 2017 8:31am
Quoting cvgreen46
AUDJPY ... I should wait for the H4 to close but the H1 gives me confidence to start a small long... Screenshot1.png;2143667Screenshot2.png;2143668 {image} {image}
AUDJPY ... closed out in less than 50 minutes (hope nobody followed me!) ... This is a perfect example of what can happen if you don't wait for the bar to close.

Even as a seasoned trader, I was impatient but pushed the rules to create the trade. Long-term trend was on my side although the D1 had crossed down and PA was below the 5EMA. Weekly chart shows PA trading flat for the last 5 weeks at year ago highs, but I focused on the H1 and an H4 that was less than 2 hours old, etc., etc., etc. In hindsight, there was little right about this trade and not taking a full position should have itself told me so.

Made a little money short the FTSE today but spent the rest of the time watching GBP pairs flying around and hating the fact I was not involved so I kept looking for a trade. Bad boy, wrong approach. Moral of the story here ... DON'T FORCE THE TRADE, BE PATIENT. IF YOU'RE NOT ABSOLUTELY SURE ... WAIT!

That's it, no more trading today, head not in the right place .... will read now.
All for one and one for all
  • #74,783
  • Jan 17, 2017 12:23pm Jan 17, 2017 12:23pm
Dear emmanuel7788

It is long time that I have been out of trading, and I like to restart it again. I am interested in TMS strategy, I was reading your post 5694, in " X-Man's Super Simple System " thread; you have mentioned about a video that made me curious, and I cannot find it. I wonder if you can give me some direction please.

http://www.forexfactory.com/showthre...12#post5428312

Also I am quite familiar with the basics of TMS strategy but very rusty as I haven't updated myself over last 3-4 years. Can I ask you to help me to get in track again by giving some bullet point advise over this strategy please, eg. new things that can be added to the strategy to reduce the risk and gives more clarity about enter and exit of trades.

Many thanks in advance

kindest regards

Dan
  • #74,784
  • Jan 17, 2017 12:27pm Jan 17, 2017 12:27pm
Quoting cvgreen46
{quote} AUDJPY ... closed out in less than 50 minutes (hope nobody followed me!) ... This is a perfect example of what can happen if you don't wait for the bar to close. Even as a seasoned trader, I was impatient but pushed the rules to create the trade. Long-term trend was on my side although the D1 had crossed down and PA was below the 5EMA. Weekly chart shows PA trading flat for the last 5 weeks at year ago highs, but I focused on the H1 and an H4 that was less than 2 hours old, etc., etc., etc. In hindsight, there was little right about this...
Thanks for honesty. happens. weird week for me too.
It's in fear when people show what they truly value.
  • #74,785
  • Jan 17, 2017 6:33pm Jan 17, 2017 6:33pm
Quoting TampaFX
{quote} Would you enter this trade counter trend?? I mainly focus on with trend trades, however this pair has been in a corrective stage with a pinbar prior to the trigger candle.

There are trades which are opportunistic as results of from market events. We retail traders have no way in knowing what the smart money are doing when price get driven up and down, the smart money moves the market.
Being technical traders we are dependent on indicators, we follow our own set of rules we wrote for our own trading system and manage the risk of every trade setup we see.
We do this every day with discipline in performing the task for trading.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #74,786
  • Jan 17, 2017 6:38pm Jan 17, 2017 6:38pm
Quoting danarma
Dear emmanuel7788 It is long time that I have been out of trading, and I like to restart it again. I am interested in TMS strategy, I was reading your post 5694, in " X-Man's Super Simple System " thread; you have mentioned about a video that made me curious, and I cannot find it. I wonder if you can give me some direction please. http://www.forexfactory.com/showthre...12#post5428312 Also I am quite familiar with the basics of TMS strategy but very rusty as I haven't updated myself over last 3-4 years. Can I ask you to help...

This type of request will take a lot of my time to reply and I do not have the time to write again all those things I posted since 2011.
Since you are familiar with TMS, the best way forward is read Post#1, Post#25,Post#261 and Post#647.
Setup your MT4 and start posting charts with questions.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #74,787
  • Jan 17, 2017 10:37pm Jan 17, 2017 10:37pm
A few i took recently - fondly remembering BigE
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  • #74,788
  • Jan 18, 2017 1:22am Jan 18, 2017 1:22am
Quoting neil001
A few i took recently - fondly remembering BigE Image1.png;2144568 Image2.png;2144571 {image} {image}

good trades following the price action at support/resistance...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #74,789
  • Jan 18, 2017 1:52am Jan 18, 2017 1:52am
Hi every body, I'm a newbie to this TMS system which was started 5,6 years ago by Big E. Hopefully he is sill good (I haven't seen any post from him in last 2,3 years).

I already read the rules and notes that Big E answered in this thread.

Now I am trying to following what he taught us. Below is EU 4H chart. Do you guys think it is a good setup? Also check UJ, UCAD, UCHF 4H charts, all of them look like same, right ?
Attached Image (click to enlarge)
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  • #74,790
  • Edited 3:17am Jan 18, 2017 2:58am | Edited 3:17am
Quoting mokuro89
Hi emmanuel Do you look at lower time frames when trading a trend in a HTF? I'm mostly trading D1 on MEME, collecting proffits of 0.5x ADR or so, do you think it is worth to go to LTF on H4 to stop trading that trend early, or its better to avoid noises and look for a trend invalidation on D1 (the trend I'm trading)? Thanks!

Hi mokuro,

To answer your question: Do I look at lower timeframes LTF when I trade H4 and D1? No I don't look at LTF but I use LTF M15 TDI cross in my trade management EA to add positions when M15 TDI cross and also to exit after I have profit lock activated and TDI M15 cross in opposite direction.

You cannot spot a trend early in LTF. We trade the trend of the timeframe, when we trade H4 we look at H4 for the reversal and a new trend. The same for D1 chart trading. Trade invalidation must be in the same TF of the trade. When we trade H4, we manage in H4 and it does not make sense to manage in LTF like H1.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #74,791
  • Jan 18, 2017 3:01am Jan 18, 2017 3:01am
Quoting pdduc13
Hi every body, I'm a newbie to this TMS system which was started 5,6 years ago by Big E. Hopefully he is sill good (I haven't seen any post from him in last 2,3 years). I already read the rules and notes that Big E answered in this thread. Now I am trying to following what he taught us. Below is EU 4H chart. Do you guys think it is a good setup? Also check UJ, UCAD, UCHF 4H charts, all of them look like same, right ? {image}

you are trading against the W1 and D1, so there risk is much higher.

take profit fast when possible ..
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #74,792
  • Jan 18, 2017 3:27am Jan 18, 2017 3:27am
Quoting emmanuel7788
{quote} you are trading against the W1 and D1, so there risk is much higher. take profit fast when possible ..
Thanks God you are here at FF always Emmanuel. I have skimmed through all the system using TDI as the main indicator, and seeing a lot of your shares. You are so dedicated to other' s questions.

Back to my image of EU-4H chart, you mean the HA/TDI in D1 and W1 are for long signals, so if I go Sell on H4, it is the counter-trend trade which is quite in danger, right?

And btw, may I know your style of trading? You are mainly trading on 4h or Daily charts using this 5EMA/TMS method? (I read several your posts, you normally go down to lower TF to find the entry point which follows the trend on bigger TF, right?
  • #74,793
  • Jan 18, 2017 4:09am Jan 18, 2017 4:09am
I had been following the GBPUSD for most of yesterday (17th Jan). The, price pattern was suggesting an opportunity to short the H1 TF close to 1.24163. The pair started to retrace from resistance around midnight. The Stoch was Overbought, TDI was setting up to cross but price was not breaking the 5ema which isn't necessary under Big E's rules. I placed a short trade at 00:42 - entry price 1.23926 - Stop loss 1.23570 (35pips). As this was an over night trade on the H1 TF I placed an ambitious take profit at 1.22350.

At 08:54 I closed the trade at 1.23368 with a 55 pip profit.

Why did I close at that price? The green RSI line had flattened whilst the Stoch was Overbought - price had entered a consolidation channel. I came away happy with the trade .

I will continue to monitor the pair and look to re-enter on a close and re-open below the 23.6% Fib level with my objective being in the 38.2% - 50.0% zone.

Sorry about the quality of the screen shots...
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  • #74,794
  • Jan 18, 2017 4:40am Jan 18, 2017 4:40am
Hi all, quick introduction:

I was introduced to FF a few years ago by a house mate but Ive been hovering round Forex for a couple of years before then, reading all I can in books, forums etc. Standard stuff blown a few small accounts, been through indicator and mixed timescale heaven (?), then finally made things simple filtering down through TMS related threads and content to the 5 method.

Ive managed to go through the full thread as well as the Craig Harris thread over the past months and have been through all the posts and consolidated PDFs several times of BigEs, DCQinc, x-Man, PHX62 etc. many times, but Im still not getting any forward movement which clearly Im hoping to change. I'm searching for the ah-ha moment that I've clearly not got yet.

So Ive taken the leap to join FF and do some posting for public critique and comments as that seems the final thing I havn't done that is recommended, I also hope to be able to offer comments of support for others for whatever value that may be worth from a breaking even (ish) member.
Griff
always learning
  • #74,795
  • Jan 18, 2017 5:11am Jan 18, 2017 5:11am
Quoting Yotam.v
{quote} You can download Trade interceptor, it has lots of indicators including HA. you can also link your trade account to this app. and trade through it
Thank you Yotam.v for the info about Trade Interceptor ... it is excellent! No wonder it has received awards. Anyone who needs a mobile app, this is it and it was designed specifically for mobile devices. (Personally I think it's better than the MT4 app but I am currently unable to connect my broker to it at the moment but will work on it. As yotam.v says it has HA's but more importantly a TDI indicator and a Stochastic Oscillator which can be customised.

Before you ask, below are the settings I use for this app which most closely match the TDI settings that most users of this thread use:

PARAMETERS
RSI Period : 10
RSI Price Line Period : 3
Price Line Average : Exponential
Trade Signal Line Period : 7
Trade Signal Average : Simple
Apply To : Typical Price

Turn on the 3D option in settings for a really cool looking chart ... not that it will necessarily make you more money but it's pretty!

Works really well on an iPad/Tablet.
All for one and one for all
  • #74,796
  • Jan 18, 2017 5:13am Jan 18, 2017 5:13am
... So I'd welcome if anyone could comment if I'm missing something obvious such as given more time / space to breathe or if this is just one of the ones that 'didn't work'. Thanks, Griff.
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always learning
  • #74,797
  • Jan 18, 2017 5:14am Jan 18, 2017 5:14am
Quoting griffc
Hi all, quick introduction: I was introduced to FF a few years ago by a house mate but Ive been hovering round Forex for a couple of years before then, reading all I can in books, forums etc. Standard stuff blown a few small accounts, been through indicator and mixed timescale heaven (?), then finally made things simple filtering down through TMS related threads and content to the 5 method. Ive managed to go through the full thread as well as the Craig Harris thread over the past months and have been through all the posts and consolidated PDFs several...
Welcome griffc,

Glad to read that you have been studying, now time to plunge into the (maybe no so deep) deep end ... post your comments or even better your charts and you will nearly always get a helpful comment/advice from someone here.

Charge on.
All for one and one for all
  • #74,798
  • Edited 7:35am Jan 18, 2017 7:19am | Edited 7:35am
Quoting griffc
... So I'd welcome if anyone could comment if I'm missing something obvious such as given more time / space to breathe or if this is just one of the ones that 'didn't work'. Thanks, Griff. {image}
If you are going to trade the H1 or H4 in isolation without looking at the timeframe above then you also need to look at the angle of the red line along with the green it will give you safer trades, in your case the red line was still pointing down. By far the safest though is to check the timeframe above quickly before placing your trade and do not look at the latest candle but the last closed one - a bullish candle but with wicks either side I would prefer to see something like a reversal type candle (inverted hammer or bullish engulfing) but also check the tdi on it and it was still pointing down. Since doing this and watching the weekly pivots my hit rate is above 80% consistently. I also take no credit for this I discovered it in Lastingwell and phx62 posts about the tdi and weekly pivots in Davits posts.

Another quick comment. The inside bar break you are looking at, the safest way is to wait for a break of the mother candle of the inside bar not the inside bar itself. Take a look at how many of those fail and it is not something you can rely on without other factors.
Success means going from failure to failure without loss of enthusiasm
  • #74,799
  • Jan 18, 2017 8:52am Jan 18, 2017 8:52am
Quoting lisat
{quote}If you are going to trade the H1 or H4 in isolation without looking at the timeframe above then you also need to look at the angle of the red line along with the green it will give you safer trades, in your case the red line was still pointing down. By far the safest though is to check the timeframe above quickly before placing your trade and do not look at the latest candle but the last closed one - a bullish candle but with wicks either side I would prefer to see something like a reversal type candle (inverted hammer or bullish engulfing)...
Thanks Lisat.
H1 is my focal timeframe, i've always used bias from the daily / above London open / >200 & 50 ema etc.

I'll do some back / forward testing and look for H4 closed candle bias, likewise the red / H4 tdi angle.
Point noted on the IB mother bar, my stats previously showed a slight edge but I'd rather have less trades and more consistency so I'll tag that in too.

Thanks
Griff
always learning
  • #74,800
  • Jan 18, 2017 9:25am Jan 18, 2017 9:25am
Quoting griffc
{quote} Thanks Lisat. H1 is my focal timeframe, i've always used bias from the daily / above London open / >200 & 50 ema etc. I'll do some back / forward testing and look for H4 closed candle bias, likewise the red / H4 tdi angle. Point noted on the IB mother bar, my stats previously showed a slight edge but I'd rather have less trades and more consistency so I'll tag that in too. Thanks Griff
I know sometimes looking at the h4 bar and using h1 seems like you are missing trades but believe me it will grow patience and discipline and you are not missing any that really move well. Good luck with your trading
Success means going from failure to failure without loss of enthusiasm
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