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TMS for M30 charts

  • #18,261
  • May 10, 2021 11:45pm May 10, 2021 11:45pm
G'day traders,
Hope you are all well and safe.
I am in a short, my usual style.
Attached Image (click to enlarge)
Click to Enlarge Name: 11.5.21 T F EURJPY.aM30 HD.png Size: 87 KB
Appreciation is the key to wealth and happiness
  • #18,262
  • May 11, 2021 4:02am May 11, 2021 4:02am
Quoting likica
G'day traders, Hope you are all well and safe. I am in a short, my usual style. {image}
hello Likica At what price did you place your SL ?
  • #18,263
  • May 11, 2021 5:19am May 11, 2021 5:19am
Quoting thomi
{quote} hello Likica At what price did you place your SL ?
few pips above YH
Appreciation is the key to wealth and happiness
  • #18,264
  • May 11, 2021 5:45am May 11, 2021 5:45am
Quoting likica
{quote} few pips above YH
ok, thanks
  • #18,265
  • May 12, 2021 12:42am May 12, 2021 12:42am
Quoting likica
G'day traders, Hope you are all well and safe. I am in a short, my usual style. {image}
Hi Likica,
May I ask you how you finally managed your last trade on EJ ?
Best regards
  • #18,266
  • May 12, 2021 1:15am May 12, 2021 1:15am
Quoting bodal
{quote} Hi Likica, May I ask you how you finally managed your last trade on EJ ? Best regards
I got in another new short during NY spotting LH around YH while stoc forming DIV, exited all positions after price hit YL and bounced back up, should ve done better if exited all at YL. A new short was entered as price and TDI & Stoc made LHLL before off to bed, still open though...
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Click to Enlarge Name: 12.5.21 w a f EURJPY.aM30.png Size: 92 KB
Appreciation is the key to wealth and happiness
  • #18,267
  • May 12, 2021 9:05am May 12, 2021 9:05am
Quoting likica
{quote} I got in another new short during NY spotting LH around YH while stoc forming DIV, exited all positions after price hit YL and bounced back up, should ve done better if exited all at YL. A new short was entered as price and TDI & Stoc made LHLL before off to bed, still open though... {image}
As far as I remember, you used to cut loss quick instead of waiting your SL being hit. It seems you have changed your strategy....... As you know, market enjoys taking clustered stop losses just above previous swing high. Yearly high or whatsoever cannot stop it.
Simplicity is the ultimate sophistication - Leonardo da Vinci
  • #18,268
  • May 12, 2021 11:17pm May 12, 2021 11:17pm
Quoting heispark
{quote} As far as I remember, you used to cut loss quick instead of waiting your SL being hit. It seems you have changed your strategy....... As you know, market enjoys taking clustered stop losses just above previous swing high. Yearly high or whatsoever cannot stop it.
I still exit manually when monitoring trades thou. where would you place your SL? or not having any?
Appreciation is the key to wealth and happiness
  • #18,269
  • May 13, 2021 12:54am May 13, 2021 12:54am
Quoting likica
{quote} I got in another new short during NY spotting LH around YH while stoc forming DIV, exited all positions after price hit YL and bounced back up, should ve done better if exited all at YL. A new short was entered as price and TDI & Stoc made LHLL before off to bed, still open though... {image}
Thank you for your kind answer.
  • #18,270
  • May 13, 2021 5:45am May 13, 2021 5:45am
Quoting likica
{quote} I got in another new short during NY spotting LH around YH while stoc forming DIV, exited all positions after price hit YL and bounced back up, should ve done better if exited all at YL. A new short was entered as price and TDI & Stoc made LHLL before off to bed, still open though... {image}
Although I am not very good at day trading, if I my entry was the same as yours, I'd set my SL to A and when price reached B, I'd set my SL to BE. Isn't this a typical scenario of TDI or TMS style traders? At least RJ did. In hindsight it was a winning trade but IMHO, your DD is too deep risking high loss.
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Simplicity is the ultimate sophistication - Leonardo da Vinci
  • #18,271
  • May 13, 2021 10:25pm May 13, 2021 10:25pm
Quoting heispark
{quote} Although I am not very good at day trading, if I my entry was the same as yours, I'd set my SL to A and when price reached B, I'd set my SL to BE. Isn't this a typical scenario of TDI or TMS style traders? At least RJ did. In hindsight it was a winning trade but IMHO, your DD is too deep risking high loss. {image}
Agreed with your view if I let market made decision for me when I was not around.

Discipline is the hardest thing and the most important key to be ahead in what ever we do, don't you think? Everyone can acquire knowledge, while wisdom come from experience and only time can provide that with our efforts. Keep moving forward!
Have a good weekend
Appreciation is the key to wealth and happiness
  • #18,272
  • May 14, 2021 2:07pm May 14, 2021 2:07pm
Quoting TheScorpS
EA short with div off BRN, +50 greens On GJ tho I took it early , no ideal entry, must learn to wait the right timings, 53 greens {image} {image}
Hi TSS, can you upload your template and indicators?
Thank you.
  • #18,273
  • May 21, 2021 9:43am May 21, 2021 9:43am
Rules says that we open trade AWAY from DOL/200 ema...

Question:

What if we have div and also a good setup like below
Attached Image (click to enlarge)
Click to Enlarge Name: 0a580aadde2120c60db4c23db5f283fe.png Size: 40 KB

This setup happened today a short while before Europe Session opens.
We have div. and TDI crossed too, do we take this kind of setups? Since we will be moving towards DOL/200 ema.
  • #18,274
  • May 21, 2021 10:15pm May 21, 2021 10:15pm
Quoting beatentrader
Rules says that we open trade AWAY from DOL/200 ema... Question: What if we have div and also a good setup like below {image} This setup happened today a short while before Europe Session opens. We have div. and TDI crossed too, do we take this kind of setups? Since we will be moving towards DOL/200 ema.
Joe Dinapoli said about divergence: "Don't use an Oscillator to price divergence as an entry technique, unless you have an excellent means of filtering it. Even for the best of Oscillators this can, and often does, spell disaster, particularly for the new participant. Price and Oscillator divergences abound, and the market continues to stop out the divergence players. Looking back in time, you're sure to find divergences that work, but when you're going forward in time, as in real trading, the accuracy of this technique just isn't there."

Trust me. Divergence is a big joke and Likica's application of divergence is broadly incorrect if not nonsense.
Simplicity is the ultimate sophistication - Leonardo da Vinci
  • #18,275
  • May 21, 2021 10:31pm May 21, 2021 10:31pm
Quoting heispark
{quote} Joe Dinapoli said about divergence: "Don't use an Oscillator to price divergence as an entry technique, unless you have an excellent means of filtering it. Even for the best of Oscillators this can, and often does, spell disaster, particularly for the new participant. Price and Oscillator divergences abound, and the market continues to stop out the divergence players. Looking back in time, you're sure to find divergences that work, but when you're going forward in time, as in real trading, the accuracy of this technique just isn't there."...
If something doesn't work for you doesn't mean it's not working. Trading is really relative, some people maybe successful with strategies which will sound like bs to you. Don't say something doesn't work if you can't use it. If you use divergency properly as one of the tools in you trading box it does help to catch good move. PA is a king for sure, than you add some things to get confidence in your decision. One I can agree is don't use divergency by itself that won't work.
  • #18,276
  • May 21, 2021 10:37pm May 21, 2021 10:37pm
Quoting taksistalo
{quote} If something doesn't work for you doesn't mean it's not working. Trading is really relative, some people maybe successful with strategies which will sound like bs to you. Don't say something doesn't work if you can't use it. If you use divergency properly as one of the tools in you trading box it does help to catch good move. PA is a king for sure, than you add some things to get confidence in your decision. One I can agree is don't use divergency by itself that won't work.
Fair enough. Enjoy your dunning-krugering.
Simplicity is the ultimate sophistication - Leonardo da Vinci
  • #18,277
  • May 22, 2021 1:08pm May 22, 2021 1:08pm
Scrambleguy, would u mind to share your currency strength indicator which u use? this one...

Attached Image (click to enlarge)
Click to Enlarge Name: 27fcc9b805343fee2ff8ff55e99bff92.png Size: 44 KB

Or if anyone else have the same 1, please do share it, thank you in advanced.

Cheers,
Amarjit.
  • #18,278
  • May 22, 2021 9:28pm May 22, 2021 9:28pm
Thank you for the sharing it's really helpful
  • #18,279
  • May 23, 2021 6:28am May 23, 2021 6:28am
Quoting lilMT
Thank you for the sharing it's really helpful
Who??...Where??...Im still right here..waiting for someone to share the Currency Strength Indicator...

Also notice this thread has gone very silent...
  • #18,280
  • May 23, 2021 8:16pm May 23, 2021 8:16pm
Quoting beatentrader
Rules says that we open trade AWAY from DOL/200 ema... Question: What if we have div and also a good setup like below {image} This setup happened today a short while before Europe Session opens. We have div. and TDI crossed too, do we take this kind of setups? Since we will be moving towards DOL/200 ema.
Noted that you read my 1st post and asked a useful question to seek for an answer. What if you look left to see how price behaved recently and to see if current price is at S/R, to make your decision. Keep reading if you are interested in learning to trade this style, you will eventually find out all you need without me or anyone posting more new posts. I am here and still active in trading both Forex and Futures. I am sometimes post to inspire and to answer any questions that I found I have not answered before.
Happy trading and have a good week to you and to all traders!
Appreciation is the key to wealth and happiness
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