Disliked{quote} Why Big E' TMS 5-Method did not work out for you? - failed to make the transition to trade H4 and Daily during the more liquid market session, i.e. the London session. - too aggressive reversal entries using APb#1 and APB#2 without the experience in PA+S&R and filtering to pick only the best A+++ trade setups. - Big E had too many discretionary type of trading decisions which newbies did not understand fully. - newbies spend too much time looking at the TDI for trade signals when they should be spending more time to look at the price, its...Ignored
- #6,203
- Sep 29, 2020 6:33pm Sep 29, 2020 6:33pm
- Joined Nov 2008 | Status: Trader | 50,196 Posts
GBPAUD - SELL on H4 {image}
very good trade.
you got a winner!
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #6,204
- Sep 29, 2020 6:36pm Sep 29, 2020 6:36pm
- Joined Nov 2008 | Status: Trader | 50,196 Posts
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #6,205
- Sep 29, 2020 7:06pm Sep 29, 2020 7:06pm
- Joined Nov 2008 | Status: Trader | 50,196 Posts
{quote} Trade Report Sep 29 9PM EST New York - yesterday closed a few baskets and positions in floating losses, some profitable trades, some losses - today's my open baskets/positions as of NY 9PM. - as it is the month-end, expect retracements which are "the MN shadow" and trade H4 whenever you see opportunity following Post#1 template_#1 and also day trading H1 using the template_#2. - be flexible and adapt to the prevailing market conditions {image}
- my current open baskets/positions as of NY 8PM
- it is the month-end, expect retracements which are "the MN shadow" and trade H4 whenever you see opportunity following Post#1 template_#1 and also day trading H1 using the template_#2.
- be flexible and adapt to the prevailing market conditions, cut-losses whenever necessary and keep your account balance healthy.
- how do you handle a floating loss of $733 in your trading account? do you have a mental strategy to deal with this?
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #6,206
- Sep 29, 2020 7:38pm Sep 29, 2020 7:38pm
- Joined Nov 2008 | Status: Trader | 50,196 Posts
USDCAD Sep 30 Market Trends
- when you can see where the market is right now, then you will know what you will be trading in the coming week and month.
- when you can see where the market is right now, then you will know what you will be trading in the coming week and month.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #6,208
- Sep 30, 2020 6:16am Sep 30, 2020 6:16am
- Joined Nov 2008 | Status: Trader | 50,196 Posts
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #6,209
- Sep 30, 2020 6:30pm Sep 30, 2020 6:30pm
- Joined Nov 2008 | Status: Trader | 50,196 Posts
{quote} Trade Report Sep 30 8PM EST New York - my current open baskets/positions as of NY 8PM - it is the month-end, expect retracements which are "the MN shadow" and trade H4 whenever you see opportunity following Post#1 template_#1 and also day trading H1 using the template_#2. - be flexible and adapt to the prevailing market conditions, cut-losses whenever necessary and keep your account balance healthy. - how do you handle a floating loss of $733 in your trading account? do you have a mental strategy to deal with this? {image}
Trade Report - Thursday Oct 01 9AM SYDNEY (Sep 30 7PM EST NY)
I have no open basket/positions after closing all baskets yesterday during London session. I closed the Month and a short trading Week 40 Sep 27 to Sep 30 (3 days) with some profits.
Its the first trading day in a new Month October. No hurry right now and I can relax and look at my watchlist pairs and Plan My Trades, the Trade my Plans.
My focus pairs are these - EMBasket, JPYBasket and USDollar plus One pair each from my groups of Five.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #6,210
- Sep 30, 2020 6:36pm Sep 30, 2020 6:36pm
- Joined Nov 2008 | Status: Trader | 50,196 Posts
{quote} Hello Emmanuel, Thanks for this clue. From this chart it should be next week still up trend?
{quote} Hello basera24 WE do not know yet what the market type would be until we see this week's W1 candle closed on Friday NY 5PM. After that, we do our weekly top down analysis WTDA and update our big picture and we will the know what the market type is for next week's trading. I will then post an update, but everyone here can do their own WTDA and post their charts and trade plan. In case I forgot, please send me a reminder post. Today is month end closing and strange things happen at London Close and also after London closed. Trade Well, Trade...
Here is my update on USDCAD Weekly Oct 01 SYD
We need 3 bars/candles to determine the market type.
Must wait for today and tomorrow daily close, then we will know what the market type is for next week' trading.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
These are some of the current trades opened from Yesterday 1 Hour after US open and today 2 hours before London open, I follow the rules on Page 1, and it blows my mind how this system is so simple, This is what I was looking for as I have a very demanding day job and this just makes my trading so much easier. My Exit strategy is using the HMA line turning to Pink if I am long and Blue if I am short. I will definetly test more as time goes.
Thank you so much RH for this.
Thank you so much RH for this.
- #6,213
- Oct 1, 2020 6:27am Oct 1, 2020 6:27am
- Joined Nov 2008 | Status: Trader | 50,196 Posts
These are some of the current trades opened from Yesterday 1 Hour after US open and today 2 hours before London open, I follow the rules on Page 1, and it blows my mind how this system is so simple, This is what I was looking for as I have a very demanding day job and this just makes my trading so much easier. My Exit strategy is using the HMA line turning to Pink if I am long and Blue if I am short. I will definetly test more as time goes. Thank you so much RH for this.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #6,214
- Oct 1, 2020 6:30am Oct 1, 2020 6:30am
- Joined Nov 2008 | Status: Trader | 50,196 Posts
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #6,215
- Oct 1, 2020 6:35am Oct 1, 2020 6:35am
- Joined Nov 2008 | Status: Trader | 50,196 Posts
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #6,216
- Oct 1, 2020 6:41am Oct 1, 2020 6:41am
- Joined Nov 2008 | Status: Trader | 50,196 Posts
{quote} You are most welcome. Just spend your time and read all RobinHood' posts and study his charts. Pay attention to detail on your own charts and those Crossover and Continuation setp up conditions and look for the best setups and trade potential that can run for days and even into weeks. Start trading H4 and then when the trades developed into Daily then Weekly, you will make money. I closed my trades for this week Sep 21 to 25 just before New York open and have some open positions to run into next week. Hope this will inspire you to work even...
Trade Report for the period Sep 21 to Sep 30
- managed to closed all open positions and took some losses but overall still made profit.
- a bit of struggle the last 3 days, but still held my composure and close ALL and still managed my achieve my daily $1,000 average per trading day.
- just want to inspire you all to work harder and learn this TMS(r) method by RH, do lots of demo and build your confidence before you go onto to trade live with real money.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #6,217
- Edited 9:15pm Oct 2, 2020 8:58pm | Edited 9:15pm
{quote} {image} Trade Report for the period Sep 21 to Sep 30 - managed to closed all open positions and took some losses but overall still made profit. - a bit of struggle the last 3 days, but still held my composure and close ALL and still managed my achieve my daily $1,000 average per trading day. - just want to inspire you all to work harder and learn this TMS(r) method by RH, do lots of demo and build your confidence before you go onto to trade live with real money. {image}
- Did you trade in D1 or H4? as I tried to put my possible entries & exits on the chart as following, and find that I could have lost much more in the shadowed choppy area. Did you also trade in this area? or you actually avoided this this area and how?
- BTW, for me, GBP is very hard to trade due to too many Boris Johnson Candles causing unexpected kick-outs by 2-bar trailing SL strategy. Is there any way to solve this issue?
- I notice that you have 62 short trade of totally 66 trades. I think it is because you cached the first main short trend from the very beginning. But how did you determine that this is a big trend you can put more stakes in? Every time when I study the past charts, I found I could have made more profit I could manage to catch the main trend and avoid the choppy ones. but I am always confused whether the incoming one is a real big fish or not until it is finally unfolded. Is there any thing important I missed in this system?
- the finally questions is about the colour of two Stochastics. I remember RH mentioned before that he would choose to exit if the colour of these two changes in some cases. Is there any more criteria about when we should entry or exit referring this colour change? What does the colour change essentially mean or indicate?
Have a nice weekend, Ta!
- #6,218
- Oct 3, 2020 8:25am Oct 3, 2020 8:25am
- Joined Nov 2008 | Status: Trader | 50,196 Posts
{quote} Hi Emmanuel. That is an impressive harvest! I am learning it, so questions as below, taking the GBPUSD (21/9 - 30/9) for instance. Did you trade in D1 or H4? as I tried to put my possible entries & exits on the chart as following, and find that I could have lost much more in the shadowed choppy area. Did you also trade in this area? or you actually avoided this this area and how? {image} BTW, for me, GBP is very hard to trade due to too many Boris Johnson Candles causing unexpected kick-outs by 2-bar trailing SL strategy. Is there any way...
Hi Frank
My GBPUSD Week 39 Sep 21 to 25 were D1 trades and I based on the Weekly market condition. Note when Friday Sep 18 closed, I see a sideways market type conditions and D1 was more bearish when I decided to sell. The Weekly sideways range was about 500 pips. Selling on Sep 21 would mean the worst case SL would be above 1.3264 i.e. above the high of that big Weekly candle of week 37. This is why my trade position size were very small and to allow me to scale-in and scale-out with several baskets of trades.
However, if you use the 2-bars trailing for SL on H4, you will be stopped out very often when the market become choppy like in that grey area on your chart.
But I prefer to a ATR volatility based SL on D1 and this works better. With the ATR based SL, you can do the trade position size for the baskets.
I don't use the two Stochastics for exit decision. I look at the price action of the APB and HA candles, is these show smaller candle and changes colour, I will prepare to cut my open positions.
GBPUSD can be difficult to trade at certain times and the ongoing BREXIT talks between the UK and EU can create many more of 'Boris Johnson' type candle. But when I trade with MEME, I can cope with the sudden big candles and make quick recovery trades in the event I have to cut losses.
Also note, I do not rely on trading just one pair. I leverage on trading a pool of 3 to 5 pairs at the same time and divide my risk into smaller portion to each pair. You need a reasonable account deposit when you want to trade a pool of currency pairs.
Have a Good Weekend . Stay Safe.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #6,219
- Oct 3, 2020 8:42am Oct 3, 2020 8:42am
- Joined Apr 2019 | Status: Trader | 1,996 Posts
{quote} {quote} Here is my update on USDCAD Weekly Oct 01 SYD We need 3 bars/candles to determine the market type. Must wait for today and tomorrow daily close, then we will know what the market type is for next week' trading. {image}
It seems a lot of the pairs are in the same weekly position. Keep up with the very informative posts, I am just compiling a lot of them for future reference.
- #6,220
- Oct 3, 2020 5:55pm Oct 3, 2020 5:55pm
- Joined Nov 2008 | Status: Trader | 50,196 Posts
{quote} Hi Emm, Just looking at UC weekly close not being higher than the week before . Does this mean we can expect UC ranging for the following week and probably best to look elsewhere for a better trade? Maybe Covid trump is causing instability as well. It seems a lot of the pairs are in the same weekly position. Keep up with the very informative posts, I am just compiling a lot of them for future reference.
USDCAD Weekly ... 1.3400 is critical for next week... if the W1 bulls win.. but the MN bears are massive.
stay tuned for the Sunday planning session later.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett