{quote} note there is Day Open Feb 22 and also psych-level BRN 1.6000 , these have CONFLUENCE to act as resistance for today. nee to over come this level. {image}
- #94,362
- Edited 9:44am Feb 28, 2019 9:13am | Edited 9:44am
{quote} Hi kain775, Yes, we did this a lot in the TMS M15 thread. There were lots of post explaining MTF analysis and trading. But this pic below is what we used to explain how the 10/50/200 EMAs are being used when we trade M15. But if you follow Big E's post in his old thread, he has another method - the 21/233 method which use only two displaced moving averages (MA with shift). {image}
I tested some of LE1's stuff before you posted that and for some reason m15 wasn't working well for me. mostly loosers. in heinsight [after reading some of your posts] perhaps it was because i was using the h1 tdi for direction instead of the h4
i have yet to try the m15,h1,h4 setup.
I was thinking about all these ma's etc so decided to look up some of MerryGolds posts as i remember he was quite into that. i combined his way of trading with lastingwells [waiting for the htf tdi to start angling in your direction first before taking a trade] and so far most of the trades have been winning. tbh i think i will do better now than how i was trading tms before ...as i've learnt a lot since then [was trading genesis recently but have now stopped]
here are two trades taken today with merrygolds method.
i put the h1 10ema, h4 10ema and d1 10ema on my chart my m30 chart, as well as the 200 ema, the 124 ema [62 ema on h1 (lastingwell)] .....and i also added the 50 ema as i observed it after you mentioned it and noticed price respects it very well.
Merrygold likes the 10ema of d1/h4/h1 to all be in harmony before he trades.
also i made sure at least one of the htf tdi's is officially crossed in the trades direction before taking a trade
2/2 winners for today
- #94,363
- Feb 28, 2019 10:53am Feb 28, 2019 10:53am
- Joined Nov 2008 | Status: Trader | 50,218 Posts | Online Now
{quote} I tested some of LE1's stuff before you posted that and for some reason m15 wasn't working well for me. mostly loosers. in heinsight [after reading some of your posts] perhaps it was because i was using the h1 tdi for direction instead of the h4 i have yet to try the m15,h1,h4 setup. I was thinking about all these ma's etc so decided to look up some of MerryGolds posts as i remember he was quite into that. i combined his way of trading with lastingwells [waiting for the htf tdi to start angling in your direction first before taking a trade]...
You still have a lot to work on. But I am here to help you simplify all that.
read my posts on EURAUD today, from start to current update.
EURAUD Feb 28 Update near to London close,
hit 2R !
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #94,365
- Feb 28, 2019 11:37am Feb 28, 2019 11:37am
- Joined Nov 2008 | Status: Trader | 50,218 Posts | Online Now
{quote} Is this a WRB breakout? I have been testing these and as of yet too many are failing for me so will need to find consistency with them before trading with decent sized positions. It's funny you mention EURAUD though because on m30 i spotted a wrb breakout[without seeing your post], ...but i just marked it and didn't place an order also i have fibs and brn directly above which was also putting me off taking it what sort of win rate are you getting on these wrb setups? {image}
No fibs either.
In fact, I did not even look at the Stochastics and TDI for trading decision. I look at the price action and explain the TDI behaviour in my posts. I did not trade in the morning Asian session because of Aussie data and most of us trade this pair during European / London sessions only.
The decision to buy when LO was based on the Daily chart and price action direction, trade away from the Day Open.
Look at the first 5 hours of Tokyo session, do you see the high-low range?
When FO, do you see the FO candle breaks the TOK_5H high? (Plan A)
The LO candle is tricky because it is also the hour of Tokyo closing and funny things happen during the LO and 2 hours following LO. I am prepared with Plan B in case after Tokyo closed the market reverses.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #94,368
- Edited 12:19pm Feb 28, 2019 12:07pm | Edited 12:19pm
- Joined Nov 2008 | Status: Trader | 50,218 Posts | Online Now
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #94,369
- Feb 28, 2019 6:10pm Feb 28, 2019 6:10pm
- Joined Nov 2008 | Status: Trader | 50,218 Posts | Online Now
DE30 Week 09 Friday Mar 01- Weekly chart
Trade Planning
Its a new month and we should be doing our planning for long term swing trading. Today is Friday and there is no rush to start trading today. Take the day off and relax and clear our mind of all previous biases and plan our trades over the weekend. Start on Monday Mar 04.
Looking at Weekly, the Stochastics is way above its 80 level. I don't worry about this as the price is strong trending. Look at the history, where the price remains trending higher even when the Stochastics is above that 80-level.
If you use the MACD(2,13,7) to replicate the TDI(13,2,7) what you can do is look at the MACD Histogram to see if these are above its 0-level and the MACD has cross /above its Signal line. Follow the price action, and follow the price when it makes higher high, higher low and HIGHER CLOSE. Check these also on the Daily chart.
Make money when you see the opportunity.
Trade Planning
Its a new month and we should be doing our planning for long term swing trading. Today is Friday and there is no rush to start trading today. Take the day off and relax and clear our mind of all previous biases and plan our trades over the weekend. Start on Monday Mar 04.
Looking at Weekly, the Stochastics is way above its 80 level. I don't worry about this as the price is strong trending. Look at the history, where the price remains trending higher even when the Stochastics is above that 80-level.
If you use the MACD(2,13,7) to replicate the TDI(13,2,7) what you can do is look at the MACD Histogram to see if these are above its 0-level and the MACD has cross /above its Signal line. Follow the price action, and follow the price when it makes higher high, higher low and HIGHER CLOSE. Check these also on the Daily chart.
Make money when you see the opportunity.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #94,370
- Feb 28, 2019 6:33pm Feb 28, 2019 6:33pm
- Joined Nov 2008 | Status: Trader | 50,218 Posts | Online Now
{quote} .. using the h1 tdi for direction instead of the h4 i have yet to try the m15,h1,h4 setup.... {image} {image}
using the h1 tdi for direction instead of the h4 i have yet to try the m15,h1,h4 setup....
let me get a few things right as we start a new month trading:
1) the H1 TDI is not for direction. Use the 5EMA for the direction and looking at the price and its price action. Do this in all timeframes, I look at the Weekly and Daily and be sure that both these price action are above the 5EMA for BUY and below 5EMA for SELL.
2) follow the Triple Screen System Concept, its is M15-H1-H4 and H1-H4-D1 and H4-D1-W1 always.
3) Forget about using several TDI in one chart. Just one TDI is more than enough in one chart timeframe. You can simply have 3 charts open at the same time and use the Tile Window to view each chart timeframe in realtime.
4) Use the Stochastics. It has key feature to spot the best reversal setups.
5) Money management, Risk and R-Multiple is important and to use these to create an edge for your own trading system.
Read my Jan and Feb posts on trading DE30. Below my results for the first 2 months trading this pair for the first time. Started only in Week 05 Jan 28 and till Week 09 Feb 28 closed.
I followed the Weekly and Daily direction above the 5EMA. February was only Buy trades.
Results closed yesterday, just this pair trading MEME i.e. multiple entries per basket, the usual 5 positions maximum per basket. The win rate is only 76% but I did not have any losing baskets. The losing positions were in different baskets which is common.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #94,371
- Feb 28, 2019 11:22pm Feb 28, 2019 11:22pm
- Joined Nov 2012 | Status: Trader | 2,339 Posts
I Have Learned to Take Some Losses to Make Profits
- #94,372
- Mar 1, 2019 1:30am Mar 1, 2019 1:30am
- Joined Nov 2008 | Status: Trader | 50,218 Posts | Online Now
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #94,373
- Mar 1, 2019 1:38am Mar 1, 2019 1:38am
- Joined Nov 2008 | Status: Trader | 50,218 Posts | Online Now
EURAUD Mar 01 H1 Frankfurt Open candle
selling into Asian session low as support and BRN 1.6000 is not a good idea.
selling into Asian session low as support and BRN 1.6000 is not a good idea.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #94,374
- Mar 1, 2019 1:39am Mar 1, 2019 1:39am
- Joined Nov 2015 | Status: Member's sanity currently on AWOL | 8,930 Posts
Keep it simple.
Don't complicate the method.
Use simple rules:
- Every-time M15 TDI makes a crossover check with V-Line if:
- H1 TDI green angle confirm the same direction.
Both TDI green must be:
- Between 2 / 4 no trade.
- Between 2 / 1 and 4 / 5 are good signals to enter a trade.
- Between 12 / 1 and 5 / 6 are the best signals to enter a trade.
Both Stoch must confirm direction.
Keep doing it over and over.
Don't complicate the method.
Use simple rules:
- Every-time M15 TDI makes a crossover check with V-Line if:
- H1 TDI green angle confirm the same direction.
Both TDI green must be:
- Between 2 / 4 no trade.
- Between 2 / 1 and 4 / 5 are good signals to enter a trade.
- Between 12 / 1 and 5 / 6 are the best signals to enter a trade.
Both Stoch must confirm direction.
Keep doing it over and over.
- #94,375
- Mar 1, 2019 1:56am Mar 1, 2019 1:56am
- Joined Nov 2008 | Status: Trader | 50,218 Posts | Online Now
Keep It Simple: Train your eyes. Learn to see and read price action, higher high, higher lows and higher Close. Be independent of all lagging indicators.
Look at lower timeframe charts and see those chart patterns like Double Bottom.
Today is a good example, H4 shows an established bull trend. Always trade in the direction of the established trend.
CONSISTENCY is an important part of your winning edge.
Markets Reward the Disciplined Traders .. by TSS one of our old timers TMS trader.
Look at lower timeframe charts and see those chart patterns like Double Bottom.
Today is a good example, H4 shows an established bull trend. Always trade in the direction of the established trend.
CONSISTENCY is an important part of your winning edge.
Markets Reward the Disciplined Traders .. by TSS one of our old timers TMS trader.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #94,376
- Mar 1, 2019 2:05am Mar 1, 2019 2:05am
- Joined Nov 2008 | Status: Trader | 50,218 Posts | Online Now
Keep It Simple: Learn what reversal candles are and spot them easily.
Today FO candle closed is a Reversal candle, also classic TMS setup candle which close below the 5EMA. Read Big E posts and learn EVERYTHING and master the 5-Method. It is not that difficult to read, study, learn and practise on your own.
Plan A ... sell but be careful of support below. Is there room enough for a R:R 1:1 trade?
Edit: update with better enlarged chart ...
Today FO candle closed is a Reversal candle, also classic TMS setup candle which close below the 5EMA. Read Big E posts and learn EVERYTHING and master the 5-Method. It is not that difficult to read, study, learn and practise on your own.
Plan A ... sell but be careful of support below. Is there room enough for a R:R 1:1 trade?
Edit: update with better enlarged chart ...
Don't contact Dean Malone about the TDI. The way he uses it for his method is 180 degrees from how we use it... you need to learn how to use it our way... The TDI is the heart of our method. It tells you when to enter and where to exit any trades... so review previous posts and learn it good. HA Candles are important because it makes your trading way less stressful... use them. Stoch's is nothing but confirmation. If Stoch's & the TDI give different signals... lights flash off and on warning me to take a closer look before entering.. and usually I look for another trade. 5 ema... shows direction currently... only wanting to enter on candle 1 or two. If there is a reversal do I have a TDI signal to enter... if not and all looks strong then enter on candle 2... use some discretion... practice on Demo... take some chances and see if yor head computer was right... it's free. HA Candles... What are their size? If they are small I will usually go find another set up... Look for consolidation... look for how close PA is to supp/res levels... use your brain ! Believe it or not you have to participate and think... until it's so second nature... there is nothing to it... it's so simple... don't complicate it or you will lose...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #94,377
- Mar 1, 2019 3:04am Mar 1, 2019 3:04am
- Joined Nov 2008 | Status: Trader | 50,218 Posts | Online Now
EURAUD Mar 01 update,
now that Tokyo market session closed, the next 2 hours will decide if we take 1R profit or cut loss,
now that Tokyo market session closed, the next 2 hours will decide if we take 1R profit or cut loss,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
