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 chart gives the best view of the 'big picture' per currency pair - on this time frame I find the TDI indicator and synergy bars to be very helpful in determining what the trend is doing etc.
I do check the weekly chart from time to time to give me confidence when required before I enter a trade.
My main chart for entries and exits however is the 4hr chart - I don't enjoy the discomfort of having to endure the possibility of relatively large moves against me that sometimes happens when taking trades off the daily chart. I still use TDI and synergy bars on the 4hr chart to pick solid entries with fairly tight stops (typically 30 - 60 pips) and then I use an 28ema as a trailing stop and this works very effectively to keep me in trades while the trend is strong, plus it allows the opportunity to move the stop to BE relatively quickly - which I like!
I will continue to subscribe to this thread as I enjoy the contributions of Britpip7 and others but I will not post stuff that is off topic.
Good trading everyone!
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 chart gives the best view of the 'big picture' per currency pair - on this time frame I find the TDI indicator and synergy bars to be very helpful in determining what the trend is doing etc.
I do check the weekly chart from time to time to give me confidence when required before I enter a trade.
My main chart for entries and exits however is the 4hr chart - I don't enjoy the discomfort of having to endure the possibility of relatively large moves against me that sometimes happens when taking trades off the daily chart. I still use TDI and synergy bars on the 4hr chart to pick solid entries with fairly tight stops (typically 30 - 60 pips) and then I use an 28ema as a trailing stop and this works very effectively to keep me in trades while the trend is strong, plus it allows the opportunity to move the stop to BE relatively quickly - which I like!
I will continue to subscribe to this thread as I enjoy the contributions of Britpip7 and others but I will not post stuff that is off topic.
Good trading everyone!