{quote} Read the first 10 pages of the thread, particularly big E's posts. This is the fastest way for you to start earning money.
- #82,685
- Oct 23, 2017 3:20am Oct 23, 2017 3:20am
- Joined Nov 2008 | Status: Trader | 50,194 Posts
hi emmanuel & other member of tms is this entry correct emmanuel sir will u pls reply to 82551 post also {image}
when trading H1, price action is king.
Pullback candle aka Pin Bar are good pattern to trade when such pattern appears at support and resistance.
Quote:
Your primary goal has to be to learn how to think like a consistently successful trader.
Remember, the best traders think in a number of unique ways. They have acquired a mental
structure that allows them to trade without fear and, at the same time, keeps them from
becoming reckless and committing fear-based errors.
– Mark Douglas
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #82,688
- Oct 23, 2017 4:49am Oct 23, 2017 4:49am
- Joined Nov 2008 | Status: Trader | 50,194 Posts
Hi emmanuel, is this a bounce trade on tms watchdog? it says bounce value 3.1 ...but the angle doesn't seem that great to me? please can you explain the bounce feature? {image}
I dont use the TMS Watchdog.
Based on simple price action and looking at MN W1 and D1, I would simply jump in the H4 last candle closed.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #82,689
- Oct 23, 2017 4:54am Oct 23, 2017 4:54am
- Joined Nov 2008 | Status: Trader | 50,194 Posts
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #82,691
- Oct 23, 2017 5:16am Oct 23, 2017 5:16am
- Joined Nov 2015 | Status: Trader | 2,525 Posts
Practice makes a person perfect
- #82,692
- Oct 23, 2017 5:28am Oct 23, 2017 5:28am
- Joined Jun 2013 | Status: Membership Rewarded | 3,206 Posts
Risiko birgt immer auch die Chance.
Good evening Emmaunuel and other fellow TMS comrades:
Here is my set up in mind for A/U pair, reasons are in below:
1. Macro level, US has past the tax bill through the houses last week
2. The current daily candle is about to close with little outside the channel (which i am still waiting but lets just said it will be )
3. Previous candle is a doji with long legs
4. TDI checks out ( entering angle 4-6, below 50, green below yellow and red)
5. next RNL is at 0.77452 as shown on my pic.
the only thing i am not is that i don't spot a very clear downtrend on this daily and also weekly chart.
Should I proceed with my plan? Short this pair when condition 2 has met?
Please help me to identify the mistakes i have made.
Many thanks and TMS method rocks!
Here is my set up in mind for A/U pair, reasons are in below:
1. Macro level, US has past the tax bill through the houses last week
2. The current daily candle is about to close with little outside the channel (which i am still waiting but lets just said it will be )
3. Previous candle is a doji with long legs
4. TDI checks out ( entering angle 4-6, below 50, green below yellow and red)
5. next RNL is at 0.77452 as shown on my pic.
the only thing i am not is that i don't spot a very clear downtrend on this daily and also weekly chart.
Should I proceed with my plan? Short this pair when condition 2 has met?
Please help me to identify the mistakes i have made.
Many thanks and TMS method rocks!
Always be humble, and Stay Vigilant
{quote} the weekly tdi has been crossed for some time, and this looks like it could be a pullback on the daily and about to go bearish again to resume on the weekly. i was hoping to go for it on h4 [see previous posts on this page] I am interested what emmanuel thinks about the daily setup, I know he was in favour of the H4 edit: imo if you are going to take it, you should be taking it NOW. tdi has already crossed on the daily. you wait till the end of the day for this candle to finish forming then you are late to party imo
Anyway, I am going in for short now and wish me luck
Always be humble, and Stay Vigilant
- #82,697
- Oct 23, 2017 8:33am Oct 23, 2017 8:33am
Hi after reading this thread for some weeks I think I'm ready to start, but I still have some doubts about MEME, because my English is still basic ( but improving 
), so please confirm if my understanding of the MEME is right or not.
As an example, here is a D1 chart of GBPUSD. There is a clear downtrend with lower highs. So I use the lower high as a hard stop loss.
The 100 D1 ADR is 100, so 0.5 ADR is 50 pips, my first entry is at 1.3180, so I've placed limit orders every 50 pips, with an approximate risk of 0.20%. Because my hard stop loss is at 1.33548, I can only place 3 pending orders, if all of them are filled, I will have 4 positions with a total risk of 0.80 % of the account.
So here is when I have some doubts. Maybe it would be better if my hard stop loss is a bit higher, in order to let me open a total of 5 positions, and a total of 1% of the account.
Emmanuel, can you confirm if I'm understanding the MEME concept well? any suggestion or correction?
), so please confirm if my understanding of the MEME is right or not.As an example, here is a D1 chart of GBPUSD. There is a clear downtrend with lower highs. So I use the lower high as a hard stop loss.
The 100 D1 ADR is 100, so 0.5 ADR is 50 pips, my first entry is at 1.3180, so I've placed limit orders every 50 pips, with an approximate risk of 0.20%. Because my hard stop loss is at 1.33548, I can only place 3 pending orders, if all of them are filled, I will have 4 positions with a total risk of 0.80 % of the account.
So here is when I have some doubts. Maybe it would be better if my hard stop loss is a bit higher, in order to let me open a total of 5 positions, and a total of 1% of the account.
Emmanuel, can you confirm if I'm understanding the MEME concept well? any suggestion or correction?
- #82,700
- Oct 23, 2017 10:24am Oct 23, 2017 10:24am
Hello Emmanuel, your posts and ideas are very interesting. Other very confusing.
In the ME / ME strategy you said to take profit as soon as we have the chance but in this image, you took profit after more than 150 pips. You mentioned a DYNAMIC STOP LOSS based on volatility and a hard technical stop loss but I really do not understand the difference between them and how they behave if the price moves in our favor. Also, the dynamic stop loss zone, which you said to be calculated as the distance in pips of the daily ATR100 plus the close of the 10EMA of the last daily candle close, is lower than what it should be if you go to check.
In this other picture you opened two positions and instead of taking profit and reopening the position you left them open and you added other positions by terminating the trade with two profitable positions and two losses but still in total profit. Is this another strategy or always part of ME / ME strategy?
I'm not criticizing you, but I'm just trying to improve by looking for answers to my questions.
Thank you. (Sorry for my bad English)
In the ME / ME strategy you said to take profit as soon as we have the chance but in this image, you took profit after more than 150 pips. You mentioned a DYNAMIC STOP LOSS based on volatility and a hard technical stop loss but I really do not understand the difference between them and how they behave if the price moves in our favor. Also, the dynamic stop loss zone, which you said to be calculated as the distance in pips of the daily ATR100 plus the close of the 10EMA of the last daily candle close, is lower than what it should be if you go to check.
In this other picture you opened two positions and instead of taking profit and reopening the position you left them open and you added other positions by terminating the trade with two profitable positions and two losses but still in total profit. Is this another strategy or always part of ME / ME strategy?
I'm not criticizing you, but I'm just trying to improve by looking for answers to my questions.
Thank you. (Sorry for my bad English)