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- fxjourney replied Jan 24, 2012
My approach — Just wanted to check in and give you my update. I continue to enjoy using the TMS method to trade and I have changed my approach a little since I started trading this method towards the end of December last year. For me the daily ...
- fxjourney replied Jan 14, 2012
Hi Leona Next week will bring new opportunities and it's always a bonus that your lesson did not cost you any capital at the end of the week. All the best for the week ahead - plan your trades, execute your plan and sit on your hands to stop them ...
- fxjourney replied Jan 14, 2012
Excellent result Britpip7 - well done!
- fxjourney replied Jan 12, 2012
Hi Britpip7 The penny has finally dropped for me regarding the use of fractals for entry signals. Up till now I would typically wait for the close of the daily candle and then place an entry at market based on the confirmed TDI cross/bounce. This ...
- fxjourney replied Jan 12, 2012
Trade Closed: GBP/NZD — The run came to an end and my stop was hit for a total of +389 pips. The risk/reward ratio eventually ended up as 1:5
- fxjourney replied Jan 11, 2012
Excellent trade! Your actions here have taught me the value of being patient and letting the profits run. Thank you.
- fxjourney replied Jan 10, 2012
Update on GBP/NZD trade — Trade now 48 hours old. Currently +278 pips. Stop moved to lock in +187 pips. For me there are no new trade signals yet. Some pairs are ranging while others may be setting up for new entries into the major trend. Time ...
- fxjourney replied Jan 10, 2012
Hi angelo5uk I am not a 'guru' at the TMS method - but here are my 2 cents on your trade watch list: AUD/USD - major trend is long (weekly) with possible further movement up. Daily shows same direction. Some resistance at current levels (1.0300) ...
- fxjourney replied Jan 10, 2012
Trade now 38 hours old. GBP/NZD - entry 1.9763. Current profit is +252 pips. Stop moved down to lock in +145 pips. Update in the morning at opening of new daily candle which is 5am GMT.
- fxjourney replied Jan 10, 2012
Update on GBP/NZD Trade — GBP/NZD trade still running - now 26 hours old. Currently +262 pips. Stop locked at +100. This morning the only trade on my radar was NZD/USD (long) - have not entered yet as it has already run up quite hard and I ...
- fxjourney replied Jan 9, 2012
Update on trades: EUR/CHF - decided to stay out due to reserve bank intervention @ 1.2 - thanks Verbal. GBP/AUD - decided to stay out due to support levels. (Would be +50 pips now but battling against support at 1.5100) GBP/NZD - entry 1.9763 ...
- fxjourney replied Jan 8, 2012
Hi Leona I like it! I have always just used a straight 2.5% and will adopt your approach from now on. Thank you.
- fxjourney replied Jan 8, 2012
Hi Verbal Thanks for the 'heads up' on both pairs.
- fxjourney replied Jan 8, 2012
Hi Leona I have two of yours on my list and others as follows: AUD/NZD - short. Tentative entry for me. Market is turning short (major trend) but not completely there yet. Still, trade has good chance of working. EUR/CHF - short. Pending TDI cross ...
- fxjourney replied Jan 6, 2012
Hi angelo5uk The APB / HA candles typically lead and warn of a trend change earlier than the TDI cross. So often, not always, you will see the candles change colour before the TDI crosses in the same direction as the candles of the new colour. If ...
- fxjourney replied Jan 6, 2012
Hi Kijkij According to Eelfranz (author of the original TMS method) price closing below the 5EMA is NOT a rule for entry. He used the 5EMA simply as a guide for current trend only.
- fxjourney replied Jan 5, 2012
Well done smatthew! Just keep doing the same things (entries and exits), over and over - keep it simple and don't try and over complicate things. Continue trading the same way you have been doing this past week - and the account will look after ...
- fxjourney replied Jan 5, 2012
AUDJPY Trade - wrong direction — I am thoroughly enjoying trading TMS on the daily chart and my live account has already experienced quite a big jump since I started this approach about a week ago (in a thin market too!). I understand now why ...
- fxjourney replied Jan 5, 2012
Hi palinkasa Even though we trade the daily chart the 3rd candle of the new trend (change in colour) is still important. Eelfranz (the author of TMS system) explained that entering a trade on the 3rd candle, or later, might be too late and the ...
- fxjourney replied Jan 4, 2012
Well done Britpip7 - well managed trade! Thank you for sharing your approach.