TMS for Newbies Part 2
I am starting this new thread for newbies to TMS after the last one kindly opened by MrAussie was closed by him, for what reason we are not sure but hopefully he will come in and contribute to this one if he feels he wants to return to FF.
I don't know how often I can tend to it, so would ask if any other TMS veterans would like to take part and answer questions it would be appreciated
We all trade TMS differently, everyone has their own slant, and their own timeframe, but there are certain things to take notice of on all timeframes that will make the difference between you getting in on a move too late or too early.
All types of different charts are welcome on the thread as long as they are using the tdi, stochastic if required by them and of course a mtf tdi if they want to use it because thats what I use as well, pivots or without pivots, trendlines or not. In other words whatever makes you comfortable trading, because thats what you have to be. However, any more than those indicators will not be tolerated because they only serve to confuse, if you want to use other indicators when you're trading of course you can do that but we don't need to see them on here.
If you post a chart with your trades on it, then we not only need to see closed trades we need to see what the chart looked like when the trade was opened, that helps more than anything to see what we are talking about. So, when you take a trade all you have to do is hit the print screen button and save the image, if you didn't have time to do it, that can be excused a few times but not all the time. We don't need to post straight away, it can be done after the trade is closed, nobody wants their trading disturbed just so they can post it on here. However, people like Davit that take a certain style and lots of trades, and you can see his trades open on his chart can also be excused from showing them at the time of entry You can cover your order number afterwards and lot size if you want to. Its nobody else's business what lot size you trade its about getting the entries right and knowing how to have a timely exit.
So the new thread is open for business
EDIT: I have attached the different indicators and explanations to their use to help newer members who come in. Trial and error will tell you the ones that suit you best.
I use the synergy apb indicator as I have got used to how it can show me price action nearly as well as the japanese candles, but to use them or not is up to you individually. You can also use the Heiken Ashi there is a slight difference between the two with how they calculate closed price, I prefer the APB. The one I use has an alert you can switch on for a change of colour.
Now for the TDI's and this is where it can get confusing
Firstly we have the "repainting" versions. If you want to trade like Eelfranz did, with his entry and exit you need to use one of the repainting versions. Thats because they only update at the candle close. If you try to trade like eelfranz and you can see the tdi moving with the latest candle it will confuse you, it will go flat, move up and move down so you will be thinking all the time should I come out. If you have the discipline just to check at the close of the timeframe you're working on, then by all means use the live version, but most new traders are too worried about their trades not to peek It is no good at all for backtesting with so don't try. In fact most tdi's are not very good for backtesting and you are better off using a simulator, there are various ones on FF for free, that way you can see it moving in real time while you practise.
They are the Traders Dynamic Index, TDI Red Green, TDI Watchdog and TDI Red Green Alerts Mod all of those only update at the close of the candle. Someone called Plamendp made the watchdog and according to eelfranz's rules, it will also give you the value of the cross, it won't matter how big or small your tdi window is. This is his post in 2011 about using the repainting version. http://www.forexfactory.com/showthre...60#post4675460
TDI Red Green.ex4
TDI Red Green Alerts mod. 2015.fxdaytrader.ex4
Next we have the original setting versions but real time so it will move as the open candle moves. - self explanatory really. These are the TDI_RT and the TDI-RT-Clone
Then we have the new synergy pro version which has different settings to the previous versions and is also real time.
I have also attached the tdi-mtf made by Xaphod which is what I use on my charts.
You need to try them out to see which you are more comfortable trading with, either the repainting version, live version or the one with different settings, like anything else its what you see that matters.
Edit 2: I have posted the template I use without the mtf tdi on there so this post doesn't get too large here: http://www.forexfactory.com/showthre...91#post8860891
Thanks for starting this thread LW
I am a student of TMS and looking forward to learn more. Just a question.What TF you prefer to trade.
Thank you for opening a new thread, hopefully I can clear all of the confusion from my mind. I am getting more scattered not knowing what is right and what is wrong with the right indicators and entries exits pairs to be traded in. The three AmigaOS, etc.
Wishing you and all those who participate many green pips.
Gladly subscribed, cool lady!
subscribed, thanks lastingwell.
Thanks for opening up a new TMS thread LW..
Great to see you open this thread LW. Gladly follow and learn from you. Hope Aussie will be back to contribute here.
Wishing the very best to this thread
Excellent Lastingwell thank you for taking this thread forward.
Subscribed to this thread lastingwell.
Thanks for opening up a new TMS thread for beginners.
Yes I agree with billsmith , if the templates, main indicators are rules for entry /exit are posted in the 1st post , it will be really helpful.
Will also love to see the templates you use
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