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TMS for M30 charts

  • #18,361
  • Oct 25, 2021 12:03pm Oct 25, 2021 12:03pm
@likica ;a small start with your template; thank you for your great work !
Brent 1 min
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donīt follow me,you will loose your moneyy
  • #18,362
  • Oct 26, 2021 4:32am Oct 26, 2021 4:32am
Quoting kminler
{quote} Thanks for the suggestions, both of which I have toyed with. I don’t normally like to open multiple positions in the same trade, lately, I have been experimenting with a similar idea that might be useful to you. Every day I check the daily charts at end of the day when I get a new buy/sell signal, I keep watching for an entry on a lower time frame, for me, it is the 15 due to narrow NY ranges. When I enter on the fifteen I also open a very small position as an entry on the daily, with an appropriately large stop-loss, and that one I like...
I am glad that you found what works for you as long as you are OK with retracement/ DD on D1 and take into account R:R .

I enter and re enter trades on M30 for Forex if there is a setup even though I usually zoom out to see S/R and have some idea what the big picture (higher timeframes) is doing which is a must, and only take trades on M5 for Futures during NY.
Appreciation is the key to wealth and happiness
  • #18,363
  • Oct 26, 2021 4:38am Oct 26, 2021 4:38am
Quoting teatime
@likica ;a small start with your template; thank you for your great work ! Brent 1 min{image}
What criteria did you enter on? From my chart there was a bearish divergence on M30 but your post M1 so I don't think we are on the same page. what made you stay in for such a nice run if you care to share...
Appreciation is the key to wealth and happiness
  • #18,364
  • Oct 26, 2021 6:00am Oct 26, 2021 6:00am
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Click to Enlarge Name: SpotBrent.rWeekly.png Size: 68 KB
we have a resist from 2018 ,that was my first look an idea to call the bears
donīt follow me,you will loose your moneyy
  • #18,365
  • Oct 26, 2021 8:50pm Oct 26, 2021 8:50pm
Quoting likica
{quote} I am glad that you found what works for you as long as you are OK with retracement/ DD on D1 and take into account R:R . I enter and re enter trades on M30 for Forex if there is a setup even though I usually zoom out to see S/R and have some idea what the big picture (higher timeframes) is doing which is a must, and only take trades on M5 for Futures during NY.
You hit the nail on the head with DD size on the daily, I never enter with a lot size more than 10% of my usual lot size and frequently smaller than that, and again the big bonus is that it forces me to take a more careful look at the daily charts.

Yeah, I suspected re-entering on smaller time frames was an iffy proposition.

Also good to know you drop down to the 5 min for the NY session, I have been going back forth between the 5 and 15, the 15 is sometimes too late and the 5 sometimes gives too many false signals so still working on that. The 30 is not tradeable in the narrow NY sessions.

I am a little surprised that you trade the NY sessions; must be a long trading day for you. As a Canadian, I have always been envious of Australians ability to trade the London open in the middle of the afternoon. So much so I actually moved to Australia for a winter, did well at first but the market changed and I did not, that did not end well.

I will be in Hong Kong for a while this winter and will be able to trade the LO, some time if you are feeling philosophical and have some spare time I'd love to hear your thoughts on the difference between trading London and New York.

As always thanks and green pips to you.

Keith
  • #18,366
  • Oct 27, 2021 3:09pm Oct 27, 2021 3:09pm
Quoting likica
{quote} {image}
likica, please tell me what is the name of the indicator that marks the profit / loss in pips on your screen.?
Trading has been and always will be, a hard way to make an easy living.
  • #18,367
  • Oct 28, 2021 1:42am Oct 28, 2021 1:42am
Quoting Boobligoom
{quote} likica, please tell me what is the name of the indicator that marks the profit / loss in pips on your screen.?
It s called "Orders Indicator"
Appreciation is the key to wealth and happiness
  • #18,368
  • Oct 28, 2021 2:13am Oct 28, 2021 2:13am
Quoting Boobligoom
{quote} likica, please tell me what is the name of the indicator that marks the profit / loss in pips on your screen.?
Something similar to that.....found some where here at FF
Attached File(s)
File Type: ex4 Pips.ex4   36 KB | 466 downloads

yet another one here

https://www.mql5.com/en/market/produ...ce=Site+Search
  • #18,369
  • Edited 2:33am Oct 28, 2021 2:19am | Edited 2:33am
Quoting kminler
{quote} You hit the nail on the head with DD size on the daily, I never enter with a lot size more than 10% of my usual lot size and frequently smaller than that, and again the big bonus is that it forces me to take a more careful look at the daily charts. Yeah, I suspected re-entering on smaller time frames was an iffy proposition. Also good to know you drop down to the 5 min for the NY session, I have been going back forth between the 5 and 15, the 15 is sometimes too late and the 5 sometimes gives too many false signals so still working on that....
It is very impressed to know about you actually move around to live and trade . Time and environment play a big part on our mental and physical being, I bet you are still young to quickly fit in well where ever you stay. I did stay in U.S for a month but I didn't do well with my trading as too many distractions during NY day time and I thought I would need more time to change myself which I didn't have. I feel more relaxed while having quiet time at night here in Australia trading NY/US and it works well for me.

I admitted I am not a guru doing the top down or fundamental analysis but more like a now moment taking what I see on M30 during LO and NYO. Both sessions give good volatility at their first 2 hours and done. FO/LO give me more opportunities but somehow I like NY/US as the move is fast and furious , just make sure NOT to jump in the first 5 to 15 mins at the openings due to those pending orders that need to be filled some where else without your knowledge . If you stick with major pairs and don't mind s small range I found they have nice moves during NY/US if there s a set up
Attached Image (click to enlarge)
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Appreciation is the key to wealth and happiness
  • #18,370
  • Oct 28, 2021 6:41am Oct 28, 2021 6:41am
Quoting likica
{quote} Welche Kriterien haben Sie eingegeben? Auf meinem Chart gab es eine rückläufige Divergenz bei M30, aber Ihr Posten auf M1, daher glaube ich nicht, dass wir auf der gleichen Seite sind. Was hat dich dazu gebracht, für einen so schönen Lauf zu bleiben, wenn du etwas teilen möchtest...
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sorry for my bad english and my wrong post ;but youre tpl is very helpfull for me
donīt follow me,you will loose your moneyy
  • #18,371
  • Oct 29, 2021 8:44am Oct 29, 2021 8:44am
Quoting likica
{quote} It is very impressed to know about you actually move around to live and trade . Time and environment play a big part on our mental and physical being, I bet you are still young to quickly fit in well where ever you stay. I did stay in U.S for a month but I didn't do well with my trading as too many distractions during NY day time and I thought I would need more time to change myself which I didn't have. I feel more relaxed while having quiet time at night here in Australia trading NY/US and it works well for me. I admitted I am not...

Hey Likica

You are partially right, only young at heart but I do settle in quickly in a new environment. You are too modest, it would have been much more difficult for you to move to NY than for me to move to Australia, it is hardly a hardship to trade a Canadian winter for an Australian summer. (FYI we have snow in the forecast for next week!) Loved Australia, the people, and the beaches, if I had the money I’d spend every winter there. I loved NY on my one visit there, ten days, and never did a quarter of what I wanted to do and not only distractions but the very energy in the air.

Delighted to learn that you love the excitement of trading NY, I have always had this mental image of you as a methodical, relaxed systematic trader, a kind of zen goddess of calm trading. Nice to know that you are a mere mortal like the rest of us!

Being in a comfortable environment to trade is important, one of my issues is getting up early to rade, I am a night owl by nature, and although I usually am in front of the computer by 7:45, I am rarely fully awake.

Your comments s have been very helpful in forcing me to think clearly about what I am doing and I had an epiphany about letting trades run. Day traders are essentially swing traders and most if, not all swing trading systems are designed to get you out, not to let a trade run, the rules forbid it. So still pondering this, will think on it over the weekend and see if can come up with a way to transition some trades from swing trades to trend following. The hardest part will be choosing a trend-following system and also figuring out which trades to switch over. Any thoughts?

cheers

have a great weekend.

Keith
  • #18,372
  • Oct 30, 2021 1:22pm Oct 30, 2021 1:22pm
[quote=kminler;13765701]{quote} Hey Likica ..I had an epiphany about letting trades run. Day traders are essentially swing traders and most if, not all swing trading systems are designed to get you out, not to let a trade run, the rules forbid it. So still pondering this, will think on it over the weekend and see if can come up with a way to transition some trades from swing trades to trend following. The hardest part will be choosing a trend-following system and also figuring out which trades to switch over.

So researched the best trend trading systems and found this old classic... enjoy!

Inserted Video
  • #18,373
  • Oct 30, 2021 1:30pm Oct 30, 2021 1:30pm
Quoting likica
{quote} It s called "Orders Indicator"
Can you share this indicator? I haven't found one on the internet.
Trading has been and always will be, a hard way to make an easy living.
  • #18,374
  • Nov 2, 2021 6:52am Nov 2, 2021 6:52am
Quoting Boobligoom
{quote} Can you share this indicator? I haven't found one on the internet.
It s a paid indie I bought on MQL5 and I don't think I can share it to anyone. Sorry.
Appreciation is the key to wealth and happiness
  • #18,375
  • Nov 2, 2021 3:08pm Nov 2, 2021 3:08pm
Quoting likica
{quote} It s a paid indie I bought on MQL5 and I don't think I can share it to anyone. Sorry.
OK. thanks for the answer. I will buy it too))
Trading has been and always will be, a hard way to make an easy living.
  • #18,376
  • Nov 3, 2021 11:55am Nov 3, 2021 11:55am
Thanks for the thread, Likica! TMS is great system for so many years, i will surely try this way for M30 too
  • #18,377
  • Nov 4, 2021 12:38am Nov 4, 2021 12:38am
Quoting kminler
Quoting kminler
{quote} Hey Likica ..I had an epiphany about letting trades run. Day traders are essentially swing traders and most if, not all swing trading systems are designed to get you out, not to let a trade run, the rules forbid it. So still pondering this, will think on it over the weekend and see if can come up with a way to transition some trades from swing trades to trend following. The hardest part will be choosing a trend-following system and also figuring out which trades to switch over. So researched the best trend trading
...
Thanks for sharing the best trend trading system. very classic ,,,sounds simple and easily straight forward! implementing it is another story and only one self knows the lyrics .
I don't know what style you are trading, might want to put 200MA on then go short with a hidden divergence when price below it and go long when price above it as the set up is for trend continuation. What do you need to enter a swing trade or trend following one? Is it about a location and price actions? Or about indicator? Or both? Or something else you may want to share...
Appreciation is the key to wealth and happiness
  • #18,378
  • Nov 4, 2021 12:42am Nov 4, 2021 12:42am
Quoting Blackburn
Thanks for the thread, Likica! TMS is great system for so many years, i will surely try this way for M30 too
You are welcome. Care to share what you have been trading?
Appreciation is the key to wealth and happiness
  • #18,379
  • Nov 4, 2021 2:08am Nov 4, 2021 2:08am
Quoting likica
I am not a guru
This is false.

Your trading speaks for itself. Nothing wrong with modesty, but give credit where it is due, even if it is to yourself.
If you are good at something, never do it for free--Joker
  • #18,380
  • Nov 4, 2021 5:00am Nov 4, 2021 5:00am
Quoting jmn5611
{quote} This is false. Your trading speaks for itself. Nothing wrong with modesty, but give credit where it is due, even if it is to yourself.
Hi Jmn5611, Thanks for stopping by....You r right, we need to remember giving credits to ourselves as trading is one of the tough business to manage.
I often give myself a big credit every time I was successful by passing a temptation of a set up that did not meet my rules; cutting my losses early while letting a winner running which I still find it hard to do.
Human mind likes to create new things even there s a system available and I did not invent any of those tools that I am using in my trading but work with what s on the table and still surprised to find myself stumbled up and down though. That makes life more interesting and adventurous and makes us strike to be better everyday.
Happy trading
Appreciation is the key to wealth and happiness
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