DislikedAUD WEAKNESS. I am already Short AUDUSD at 0.6900, stop at BE. Now stalking GBPAUD and EURAUD for TMSr Longs. With the current AUD weakness I am happy to take these trades without the higher time-frame filters (D1) being in agreement. Green pips to you this week. Trade well.Ignored
- #5,789
- Jun 15, 2020 10:23pm Jun 15, 2020 10:23pm
{quote} One approach is to trail your Stop at 2 candles back from the current open candle, until you are stopped out. Trade well.
Had some healthy open positions coming out of the Asian and into the European Session (AUD and NZD Pairs, along with USDCAD Long). Almost all showing green pips when I retired to bed. The there was this...
Source: Kathy Lien
I am usually asleep during the NY Session and when I woke up this morning I was gobsmacked!.
Almost all my positions were stopped out, albeit predominantly at Break Even!.
Notes to self:
1. This is the Forex Market where any-and-everything is possible!.
2. Trade setup and entry is 10%. Money Management is 90%.
3. Take profits, wherever possible, before going to bed
Trade well Krismitt
- #5,791
- Jun 16, 2020 1:54am Jun 16, 2020 1:54am
- Joined Apr 2019 | Status: Trader | 1,996 Posts
{quote} I'm trying a method where move my S.L to B.E after price moves 1.5x ATR in my direction. Also my initial S.L is 1.5x ATR, and it usually falls around the previous hi or lo
Might be of use to someone
- #5,792
- Edited 12:25pm Jun 16, 2020 9:53am | Edited 12:25pm
{quote} You are absolutely 100% correct. One of my steadfast rules is: "NEVER trade against the RSI" In fact, it's so important that you could probably make money using nothing but the RSI, the right time frame, and good money management.
First of all, I want to thank you very much for starting this thread and sharing your 30+ years of trading experience with us. There is a lot of great info shared in this thread because of your first contribution and dedication. I can't thank you enough personally.
Second, I have a few questions about the "smTMMS oscillator".
I've been observing carefully and trading based on this oscillator and the original (2 Stochs+ RSI) and studying about different components of it on the net and I can't seem to understand why some of the original components are less emphasized in this new one. (fairly enough that's my comprehension of smTMMS so far!)
a) Although there are Stochastic (14,3,3)/Stochastic (8,3,3)/RSI (14) in smTMMS oscillator settings, they don't seem to be shown graphically in the oscillator window?!! Then how are they employed to be useful just like their raw indicators?
as shown in the picture above, there are all 3 of them in the settings, but how are they depicted on the oscillator window?
b) There is a golden line of SMI which is a refined and upgraded version of Stochastic itself. Based on my study, SMI could be a great substitute for the stochastic oscillator. So instead of using one SMI (with 9,9,9 settings), why don't you use 2 SMI's just like 2 stochastic?
c) There are blue and red dots representing a 12 Hull Moving average with a divisor of 3. Since we already have a 12 HMA line (with a divisor of 2) on the chart and we make trading decisions based on it (by crossing the 5 EMA), what is the necessity of adding these HMA dots with a sharper divisor of 3 on the oscillator?
d) So please Correct me if I'm wrong. Is smTMMS meant to be an upgraded version of Stochastic (14,3,3) / Stochastic (8,3,3) /RSI (14) and therefore a better tool to make trading decisions? Or it's just a different visualization of these 3 indicators and it's not to be substituted by the original 3 one's?!
Best of wishes
- #5,793
- Jun 16, 2020 12:30pm Jun 16, 2020 12:30pm
{quote} Dear Robin Hood, First of all, I want to thank you very much for starting this thread and sharing your 30+ years of trading experience with us. There is a lot of great info shared in this thread because of your first contribution and dedication. I can't thank you enough personally. Second, I have a few questions about the "smTMMS oscillator". I've been observing carefully and trading based on this oscillator and the original (2 Stochs+ RSI) and studying about different components of it on the net and I can't seem to understand why some of...
- #5,794
- Jun 17, 2020 5:11am Jun 17, 2020 5:11am
{quote} Any suggestions or views regarding my question would be appreciated by all fellow traders in this thread.
The Oscillator was not developed by Robinhood.
You might wish to read this very short thread by SwingMan. Perhaps you could also direct your further queries to him.
https://www.forexfactory.com/showthr...5#post12409785
I trust this helps.
Green pips.
- #5,796
- Edited 7:04am Jun 17, 2020 6:44am | Edited 7:04am
{quote} Hi there user2019: The Oscillator was not developed by Robinhood. You might wish to read this very short thread by SwingMan. Perhaps you could also direct your further queries to him. https://www.forexfactory.com/showthr...5#post12409785 I trust this helps. Green pips.
- 1- Green and Red histogram lines are related to Stochastics (14/8/8 , 8/3/3). But I don't know how to differentiate them?! in Robin Hood's method we had 2 stochastic lines and they were easy to spot and analyze. now we have identical histograms. How to recognize these as easy as before?
2- Where is the RSI line? and what color is it?
3- why is an SMI is used? and why is it set to (9/9/9)?
4- why is a Hull Moving average is used (despite the one on the chart to distinguish crosses) as blue and red dots? and why is it set to a divisor of 3? the HMA on the chart is of divisor 2.
The Problem is that I can't get all these components to work together in my mind as I do easily with the Stochastic (14,3,3)/Stochastic (8,3,3)/RSI (14).
smTMMS may be well upgraded from the original 3 indicators and it maybe giving a better edge over the previous ones. Otherwise RobinHood wouldn't have recommended it on this thread. But I am confused and lost on how to analyze it just like the old 3?
So I posed the question to know how other fellow traders are using it?
Green Pips to all
- #5,797
- Edited 3:19pm Jun 17, 2020 7:36am | Edited 3:19pm
{quote} Things that I don't understand about the smTMMS is as follows: 1- Green and Red histogram lines are related to Stochastics (14/8/8 , 8/3/3). But I don't know how to differentiate them?! in Robin Hood's method we had 2 stochastic lines and they were easy to spot and analyze. now we have identical histograms. How to recognize these as easy as before? 2- Where is the RSI line? and what color is it? 3- why is an SMI is used? and why is it set to (9/9/9)? 4- why is a Hull Moving average is used (despite the one on the chart to distinguish crosses)...
1- Green and Red histogram lines are related to Stochastics (14/8/8 , 8/3/3). But I don't know how to differentiate them?! in Robin Hood's method we had 2 stochastic lines and they were easy to spot and analyze. now we have identical histograms. How to recognize these as easy as before? [Krismitt] Have a look at v2.0. It has a User Input called "Draw_Oscillator_Lines". If set to TRUE, you will see all the Lines. I do not see this Input in the later versions.
2- Where is the RSI line? and what color is it? [Krismitt] See "1" above.
3- why is an SMI is used? and why is it set to (9/9/9)? [Krismitt] This was introduced in the thread over time and discussed. You can use the Search Tool to scan through.
2. The Problem is that I can't get all these components to work together in my mind as I do easily with the Stochastic (14,3,3)/Stochastic (8,3,3)/RSI (14). [Krismitt] My understanding of the Oscillator is that it was programmed to collate all the bits and pieces of the TMSr methodology into a single graphic, which it does very nicely. The oscillator is therefore an expression of the method per Post#1, with a few embellishments such as the SMI and it's associated signals.
smTMMS may be well upgraded from the original 3 indicators and it maybe giving a better edge over the previous ones. Otherwise RobinHood wouldn't have recommended it on this thread. [Krismitt] I don't think so, but I am open to correction.
My suggestion is that you have a read through thread, not all posts but the ones by RobinHood and Swingman (and others that might be necessary to provide context) and my certain feeling is that your questions will be answered
Cheers.
- #5,799
- Jun 17, 2020 8:37am Jun 17, 2020 8:37am
{quote} I offer some additional (not exhaustive) comments as follows:- 1- Green and Red histogram lines are related to Stochastics (14/8/8 , 8/3/3). But I don't know how to differentiate them?! in Robin Hood's method we had 2 stochastic lines and they were easy to spot and analyze. now we have identical histograms. How to recognize these as easy as before? [Krismitt] Have a look at v2.0. It has a User Input called "Draw_Oscillator_Lines". If set to TRUE, you will see all the Lines. I do not see this Input in the later versions. {image} {image} 2-...
I will download and install version 2 of the oscillator as you have recommended and try to deepen my understanding of its signals.
Best Regards
- #5,800
- Jun 17, 2020 8:44am Jun 17, 2020 8:44am
Hi @krismitt, thank you very much for your explanations! In essence, you've explained everything I've long forgotten... I developed the indicator when everything was fresh, but now after 5000 postings, whoever gets in, may have a hard time understanding. For example, I will never answer the question: "why is an SMI is used? and why is it set to (9/9/9)?" because RH suggested that at some point and I took over. When, how, why, one should research the thread, even if it is difficult. The same with the Hull average. One can set the parameters consistently,...
I've been reading the thread very carefully and I'm now on page 222. I Hope I will see more discussions and guidelines about the new indicator and its development process over time in the thread.
Best wishes