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Trading Made Simple

  • #76,021
  • Feb 18, 2017 6:17pm Feb 18, 2017 6:17pm
This thread doesn't seem to be about TMS anymore. With statements like 'we must' and 'we should' preached by the self proclaimed moderator who doesn't even trade TMS as I recognise it.

TMS as laid out in the early thread works. You only need to read a couple of traders posts Big E of course and Phx62. Read and practice, read and practice.

Most of the rest in this thread is just noise and while interesting will lead you farther from being successful.
We're all just one trade away from humility.
  • #76,022
  • Feb 18, 2017 6:50pm Feb 18, 2017 6:50pm
Quoting JoJosh
{quote} I tried harmiic trading with those patterns but there were too many false signals. I hope you get it too work but it wasn't for me
Hi JoJosh,

Thanks for your reply. I only posted that to draw some discussions with member who have the experience trading with harmonics. Most of the traders who use Elliot Wave theory also will sue the harmonics pattern. Similar school of thoughts.

You are correct. Those harmonics patterns cannot be traded in isolation and there are simply too many of those patterns with different definitions.
I was introduced to the harmonics stuff in 2008 when I was trading with broker GFT. They had a analyst who shared daily analysis using harmonics pattern.
What I found interesting is when the market make extreme move, the potential reversal zone PRZ can be a very large price zone and to pick the actual point of reversal can be tricky and if traders jump into the market too early when the price enters the PRZ, it can lead to serious drawdown.

I stopped using harmonics in my trade planning analysis in 2011 as it did not add much value to my top down approach when I am trading with the 5-Method. But I still run a harmonics pattern recognition independently only on day charts and look for market trending extremes.

This thread are 5-Method traders believe in each price swing last 3 to 8 candles and they must enter on the 1st and 2nd candle of the reversal. This is very risky when the price is in the PRZ and the PRZ an be very big price zone. Likewise, it is not always true that each price swing will last 3 to 8 candles, and many traders leave too many pips on the table when they exit the market early and not let their trades run.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #76,023
  • Feb 18, 2017 6:57pm Feb 18, 2017 6:57pm
Quoting bob44
{quote} can you please give me details of the lower windows indicator . download . Thank you Bob

Hey Bob,

I will post those stuff tomorrow when the market is open.
Reason is simple. If I post them now and the market is closed, some member may experience problems when their charts are static and they will not see how that multi-charts work. They will waste their time trying to figure out the problem on Sunday.

Today being Sunday should be best spend with your family and loved ones being the top priority.
The second priority is do your trade planning and be ready for the new week trading.

Have a good one!
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #76,024
  • Feb 18, 2017 7:02pm Feb 18, 2017 7:02pm
Quoting inforserve
{quote} True. There is limitation for back testing with historical data. Over night swap rate is one of many factors. Forward demo testing is on progress now. Even though my backing result was fantastic, I do not expect have same result at forward testing. If I can get modest result out of demo forward testing, I will be as happy as Larry.

Hi Inforserve,

Keep on with forward testing in live market. I did that for almost 2 years and I learn a lot about how the live market and brokers work. You will learn a lot more and you will become wiser as an investor and trader.
The market is our only teacher.

Have good one.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #76,025
  • Feb 18, 2017 7:13pm Feb 18, 2017 7:13pm
Quoting Monokl
{quote} Hi emmanuel7788, Your money management is very correct. even I know some portfolio manager and they keep their position not more than 2-3%. Sometimes less than 1%. You are really good manager Especially your exposure in your basket trading really correct! Most professional don't exposed to same industry/energy/fx too much.. ONE important question: Are you Money Manager???

Hi Monokl,

Thanks for the flowers.
I was a lucky one who started off well with good who helped me in my early years trading the stock market in the mid-1980s.
Many years on, I learn a lot more on my own and also took on other mentors who are great traders and teachers.

To your "ONE important question: Are you Money Manager???"
Answer: I cannot say I am a Money Manager because I am not licensed to trade Other People's Money OPM. But I do trade my children's and grandchildren's inheritance money.

Risk and Money Management are key to stay afloat in this business in long term. You know Jim Rogers in your area?

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #76,026
  • Feb 18, 2017 7:32pm Feb 18, 2017 7:32pm
Hey Folks,

Its weekend and we get noise in this thread as usual.

Let's keep our focus in this thread which is meant for us to discuss Big E' 5-Method and not the 21/233 Method, not Craig Harris Stcohastics, not Tokyo channel, and few others which Big E used to discuss in his other thread Craig Harris Stochastic Method.

Never mind what this acronym TMS is and it mean different to different people.
What is important the core trading method is the 5-Method.
The core of the 5-Method has been written by Big E in his 861 posts in the Craig Harris Stochastics thread and 463 posts in this TMS thread.
You must read his posts and take your own notes, and make it into your own trading manual. For those who have some years of trading experience, you can take a short cut - read Post#1, Post 261 and post#647.

The title of this thread "Trading Made Simple" was selected from a list of 10 others suggested by older members. It does not mean trading can be made simple that easily. You must have the required knowledge to enable you to trade and trade with consistency. You must first reach consistency in your trading before you think of whether you are successful or not. You will know when you will be successful when you achieve your own goals in this business. Set your own SMART goals when you decide to start this business with real money from your day jobs. Those are your hard-earned money. Do not treat your trading capital as your entertainment money which you would take to Las Vegas. Do not treat trading as fun thing when you are financing your trading with your day job earnings. That is another form of addiction.

Learn to trade, and trade with the 5-Method.

Have a good weekend.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #76,027
  • Feb 18, 2017 7:39pm Feb 18, 2017 7:39pm
Quoting eelfranz
Remember that not everyone sees the market and TDI the same way you do... {image}
one of my favourite Big E's post.

<quote>

Remember that not everyone sees the market and TDI the same way you do...

<unquote>

Attached Image (click to enlarge)
Click to Enlarge Name: trading artist.png Size: 561 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #76,028
  • Feb 18, 2017 7:53pm Feb 18, 2017 7:53pm
Quoting Pretoriano
Emmanuel,I would like to know your tip: Weekly Eur-Usd seems like bearish while Daily seems like bullish from two day. In this case,do u seek only short trade this week or long trade following daily? Thx

Hi Pretoriano,

I don't give tips. What I do here is to share with everyone my knowledge and experience. This one way how I can contribute to Big E's request that we build his 5-Method thread together.

You know by now that I alwasy take a top down approach when I trade.
Look at this multi-chart below it will give a good view of the different timeframes on one big screen. Use this for study and quick analysis but I do not use this as my trading chart.

I will be here if you want online discussion today at London 0900.

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD multi-chart POMO.png Size: 90 KB


regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #76,029
  • Feb 18, 2017 9:58pm Feb 18, 2017 9:58pm
Trading Tools:

Another nice tool to have in your MT4 script folder.

This tool will plot all your trades in your MT4 terminal account history onto your chart.

https://www.mql5.com/en/code/7276


Enjoy.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #76,030
  • Feb 18, 2017 10:30pm Feb 18, 2017 10:30pm
Quoting emmanuel7788
{quote} Hi Pretoriano, I don't give tips. What I do here is to share with everyone my knowledge and experience. This one way how I can contribute to Big E's request that we build his 5-Method thread together. You know by now that I alwasy take a top down approach when I trade. Look at this multi-chart below it will give a good view of the different timeframes on one big screen. Use this for study and quick analysis but I do not use this as my trading chart. I will be here if you want online discussion today at London 0900. {image} regards,
Hi Emmanuel,I want to join the online discussion. By then I will have finished my BPP. Talk to you later,Okoso
  • #76,031
  • Feb 18, 2017 10:38pm Feb 18, 2017 10:38pm
Learning Price Action

read my post here:
http://www.forexfactory.com/showthre...45#post9573345

do you want to go through the hard way I been through the last 25 years?

what price action I used are here in this thread. just a few simple ones which I have shown you these few simple ones will work with this 5-Method.

you must first be careful what you read in this thread.

most important is that you read the OP Big E's posts and study all his training charts. you must have the eye for details when you want learn from him and develop your own style of trading with his 5-Method.

Big E is a reversal trader and also he traded the trend continuation with re-entry. These are the only two ways he traded and if you focus on the price action of reversal and trend continuation, this will be more than you will ever need to build your trading confidence. He did not trade consolidation and if you can identify market consolidation, you will have 50% fewer losing trades. Fewer losing trades will mean your overall win rate will increase.

Be smart folks, take in what works and good for you. Do Not let people mislead you with their frequent rants in this thread.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #76,032
  • Feb 18, 2017 10:39pm Feb 18, 2017 10:39pm
Quoting okoso
{quote} Hi Emmanuel,I want to join the online discussion. By then I will have finished my BPP. Talk to you later,Okoso

ok, I will be here in 4 hours. Now I go for some good coffee and fresh air by the sea.

Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #76,033
  • Feb 18, 2017 11:51pm Feb 18, 2017 11:51pm
Quoting Drewas
This thread doesn't seem to be about TMS anymore. With statements like 'we must' and 'we should' preached by the self proclaimed moderator who doesn't even trade TMS as I recognise it. TMS as laid out in the early thread works. You only need to read a couple of traders posts Big E of course and Phx62. Read and practice, read and practice. Most of the rest in this thread is just noise and while interesting will lead you farther from being successful.
Drewas
You are right thread is not about TMS anymore. It is about how one member's method, how he see and trade the market.
If the reference to self proclaimed moderator is at me, then yes I am guilt as charged. Am trying my best to trade the way BigE has laid it out and miss the target by many pips.
The member that can help the most is always posting contants that is unrelate to TMS / 5 methode, use termologie that needed to be googled to understand.
In one aspekt I do not agree with you. It is not noise it is junk. My feeble attempts at posting is right at the top of the junk heap
  • #76,034
  • Edited 1:10am Feb 19, 2017 12:19am | Edited 1:10am
Quoting emmanuel7788
Hey Folks, Its weekend and we get noise in this thread as usual. Let's keep our focus in this thread which is meant for us to discuss Big E' 5-Method and not the 21/233 Method, not Craig Harris Stcohastics, not Tokyo channel, and few others which Big E used to discuss in his other thread Craig Harris Stochastic Method. Never mind what this acronym TMS is and it mean different to different people. What is important the core trading method is the 5-Method. The core of the...
Thank you for this post emmanuel.
Based on what you have posted emmamuel.
Why do you post unrelated topic's like "market harmonics" , "Divergence" and then encourage members to discuss those topic's in this thread. Mentioned only 2 topic's - can post more ea: Day candle close, ME/ME
http://www.forexfactory.com/showthre...63#post9572063

Do you have two set's of rules.
1 - emmanuel can post what he want's
2 - other members can only post about TMS

Awhile ago I use the phase Keep It Simple (KISS) and you made joke's about it.
http://www.forexfactory.com/showthre...28#post9173228
Greetings Emmanuel/Griffinssoul
Posting last months results is an inspiration to us all, especially your methods and insights following KISS principle- BPP, PASR, BRN, MTF Approach, MEME + money management, entry timings/confluence techniques, psychology and following your checklist.
October plan is to continue to model my approach, develop my skills and enjoy the process.
ME/ME
http://www.forexfactory.com/showthre...50#post9173250
Day candle close
http://www.forexfactory.com/showthre...29#post9173429

The sad part of this tasteless, unrelated, degrading, non-trading, abuse, inflammatory post that has nothing about TMS is at one stage I admire you until I realised you are not what you say you are. There are to many post's by you were you contradict yourself. Where member's pointed out the danger's in to what you post.
http://www.forexfactory.com/showthre...55#post9172755
  • #76,035
  • Feb 19, 2017 1:26am Feb 19, 2017 1:26am
When you pick up individual piece of a big puzzle you will not see any picture not matter how many sides you turn it around, upside down, downside up, etc.

It is all inside your mind.

Attached Image
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #76,036
  • Feb 19, 2017 1:35am Feb 19, 2017 1:35am
Here is one worthy post by FF member hanover, someone with a wealth of knowledge and trading experieince whom I have much respect.

http://www.forexfactory.com/showthre...42#post9573442

http://www.forexfactory.com/showthre...63#post9573463

don't waste your time reading junk posts here which do not add value to your learning experience.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #76,037
  • Feb 19, 2017 2:22am Feb 19, 2017 2:22am
Emma，This is my BPP for EU，,can you help me to see, by the way you put forward the proposal, thank you！For daily traders, the possibility of forming a head and shoulders at the end of the form, on Friday can have begun to build positions, because from the price form, form a PB, there is a large candle, TDI green line across the red line, and closed at EMA10 on the position by ME /ME, from H4 swings. The red vertical line can be established at positions on Friday can be completely close, starting next week in the price back to be on the 15 minute chart again looking for entry opportunities near the blue square area, the ultimate goal in more than 1.0872, for 1 hours a day traders, looking for PASR trading opportunities, RN, BRN, support the resistance TDI, as a verification
Risk: from a monthly chart, the weekly chart, the daily chart, the current price is below EMA10
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 无标题.png Size: 66 KB
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  • #76,038
  • Feb 19, 2017 3:01am Feb 19, 2017 3:01am
Quoting emmanuel7788
{quote} ok, I will be here in 4 hours. Now I go for some good coffee and fresh air by the sea.
Hi Emmanuel,

My pick for the next week will be EURJPY short, with ME/ME. Last Friday close is a WRB, so we may see price consolidation. The risk I see is the price is at the daily support of 119.65.

The other candidate could be USDJPY for short, but I picked EURJPY as I see USD stronger that EUR. I will be also looking to short GBPAUD next week,

Thanks for your comments,

Okoso
Attached Image (click to enlarge)
Click to Enlarge Name: EURJPYDaily19 Feb 17.png Size: 43 KB
  • #76,039
  • Feb 19, 2017 3:47am Feb 19, 2017 3:47am
Quoting wheelbarrowe
Emma，This is my BPP for EU，,can you help me to see, by the way you put forward the proposal, thank you！For daily traders, the possibility of forming a head and shoulders at the end of the form, on Friday can have begun to build positions, because from the price form, form a PB, there is a large candle, TDI green line across the red line, and closed at EMA10 on the position by ME /ME, from H4 swings. The red vertical line can be established at positions on Friday can be completely close, starting next week in the price back to...
Hi wheelbarrowe,

few comments before you download my EURUSD BPP pdf .

1. That inverse Head and Shoulders chart pattern is not ideal one. Too many bars between the head and the right Shoulder, and the market was ranging with no previous strong trend.

Read about the market psychology behind Head and Shoulder chart patterns.
http://www.forexfactory.com/showthre...44#post9154944


2. With the W1 closed candle "Spinning Top", I will prepare myself for H4 to show swing high and swing low next week. If H4 it continues from where it stopped last Friday I would be very happy to add sell positions and take profits.

3. H1 will have more opportunities. Remember what Big E once said, if the PA and TDI do not look good on one TF, go down the lower TF and look for trades.

4. Remember this: Do Not trade when market is in consolidation. This happens often during the Asian session and this is why I love to trade the breakout of the Tokyo morning session narrow range. TOK_5H is what I use to check if the session is narrow range.


Good Trading next week and make money.
Attached File(s)
File Type: pdf EURUSD Week 08 Big Picture Plan.pdf   281 KB | 614 downloads
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #76,040
  • Feb 19, 2017 3:54am Feb 19, 2017 3:54am
Hi
In case anyone wants a live chat, I took the liberty to create a channel on discord app

https://discord.gg/9TDNgKt

feel free to join, or create your own and let us know the link

have fun
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