if you close a trade entered going against you what criteria do you have for closing the trade manually? Like momentum not picking up and price starts consolidating instead of making a move in your direction, price going drastically against you (if so then how many pips you wait before closing it).
And what if a trade is not going against you but the momentum is not picking up and price consolidating there which could maybe go on for hours or even longer. Do you leave such trade open and giving it a chance to play out or you just close it at break even or a loss.
I get many PMs asking me for my set files for the TMS_V19 EA.
Therefore I repeat this:
There is no generic set file for TMS_V19. This EA is not a auto-trading robot. You need to decide on how you want to trade using the TMS 5-Method and set up the EA with the correct parameters and run the EA. Use this EA to teach you what the trade setups conditions are and how it will take the trades and manages the trades. There a lots of different trade setup conditions which you have to decide on and let the EA trade in live market conditions and you observe and learn.
It is important that you first learn what is Trading Made Simple and how the OP traded his 5-Method in his old thread before he moved the discussions to this new thread.
Therefore I feel it is better you learn how the TMS_V19 work by forward testing for a few months and do as many trades as possible and learn from this practice in live market.
Update for Friday Apr 10 and Monday Apr 13
Trading today and on Monday when most markets are closed we need to adjust to the market type conditions.
Expect and plan for trading in lower market liquidity and small range trading.
The recent ATR for example the recent 5 days may not be effective to gauge the volatility. Use a longer period for example 100 days and compare.
Exit management is very important other than the use of SL and TP settings.
Trading the M15 short term, consider the other Trade Closure options available in your Ea TMS_V19.
AUDUSD Apr 10 M15 Tokyo Open
use 'stricter' setup conditions top pick trades today.
and to avoid those 'iffy' setups.
consider other Trade Closure signals, for example - the HA candle colour change with combination of Candlestick Trailing Stop.
-- M15 it is better to wait for crossover.
-- H1, wait for M15 to cross over and place the trade when green is about to crossover (last few minuets before bar close).
closing the trade manually?
-- if loss is >= $$$$. How big $$$$ is will depend on you and what you can afford to lose on a bad trade.
- If can: move SL to BE and wait.
- if not: close trade with small profit / loss. (Even one point (R0.01 profit) is better then nothing.
-- Iddd this is where post#647 come in and tell you what to do. You look at the chart and go with what you feel is right. When you follow the same set of rules day in / day on the same pair / time-frame, you sort of starting to develop a mental crystal ball where the market is going.
Think of driving a car, after 2 years you listen to the engine, and change gear with out thinking much about it.
I don't know about these new car's, you can't hear nothing.
AUDUSD Apr 10 M15 Tokyo session
Close sell position.
Open Buy same 'strict' TMS 5-Method technical conditions in TMS_V19.
1) HA PA above 5EMA
2) use Candle Pattern #2 and #3
3) TDI slope above defaul value 4.0
4) Stoch slope above default value 5.0
***Do Not trade blindly following M15 TDI crossover to crossover.
EURAUD Apr 09 H1 POMO
I was watching this yesterday but missed the trade opportunity.
TMS_V19 will not trade Master Candle breakouts.
But when you follow the PA of the HA candles with its 5EMA, you will see the technical reason why there was no trade with candle# 9 and candle #10.
This is when you as the TMS trader need to decide on your own to trade manually based on your knowledge and experience using Post#647
- do not trade when PA is in consolidation. Master Candles are consolidation range market type conditions.
- Master Candle High-Low are support and resistance i.e. the High-Low of its range
- check the H4 and D1 'trends' or swings.
AUDUSD Apr 10 M15 trade Update:
close the Buy position as price is in another consolidation ... 'M15 Master Candle'.
turn-off the morning trading hours now and wait till Frankfurt open then decide.
Note: the number of winners vs losers. Make sure your winners in pips & $dollars are greater than your losers in pips & $dollars. This important when you want to become a Super Trader.
I think you are very late to this thread.
if you are referring to my most recent posts, then these links maybe what you are looking for.
then this Post# 102,339
are the indicators I use.
go to these links and download the TMS_V19 Tools,
download this version here:
Don't be shy to ask questions and I know you have many. Setting up your charts and load the EA to trade according to specific technical conditions require a thorough understanding of how the EA was coded. You can only forward test in live market to learn and benefit from it. There are some very good setup conditions in that EA which can be used to filter only the better trade setups and you won't be trading blindly the TDI green cross red. I will be posting lots of live charts examples for you.
Have Fun reading the TMS_V19 Manual. Remember ... read, study, learn and take notes of your own.
EURAUD Apr 10 H1 trade
TMS_V19 did not signal any setup so I took the setup manually.
TMS_V19 will manage trade opened manually...
AUDUSD Apr 10 M15
what did I miss?
Price Action breakout of the M15 Master Candle range.
But the breakout was not a signal by TMS_V19...
Some days are only 1 hour, other days are 28 hours.
You trade the hours you want and when you want.
It all depends on the TDI crossover.
Use / Find a TDI with a alert function.
One pair can be like this:
M15 > sometime the alert won't sound for a hour or two
H1 > sometime four / five hours with out a alert.
H4 > can be the whole day without a alert
D1 > (I don't trade) can be a week or weeks.
The more pairs are traded, more alert's are sounded
There is nothing to trade so close shop for this week.
But let TMS_V19 alert running but no trading.
You will get email alert when TMS_v19 will monitor all your trading charts according to your 'instructions' in the input parameters.
both the TMA "Trend Period" and the Trend 2/8 are not used when trading TMS 5-Method.
Trend 2/8 is explained in the Manual. It is useful when you trade the Daily chart.
A lot of the add-on features to that EA were discussed in that SteveHopwood thread.
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