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  • #7,161
  • Jan 11, 2022 9:40am Jan 11, 2022 9:40am
Quoting Given1988
{quote} Thank you for your answer, I wanted to ask you on which TimeFrame you use it and on which currencies
I use it 100% on 4HR TF. I may mess with the Daily TF in the future.

Also, I follow the pairs that RH posted in Post # 7151. I use to watch 20-25 pairs because I wanted to "catch every move". But that was too stressful and had to put my ego aside.

I do follow XAUUSD, and a few of the the indices (US100, US30, DAX30) as the indices trend very well
Remember, the market never lies. It is only we who lie to ourselves.
  • #7,162
  • Jan 11, 2022 12:51pm Jan 11, 2022 12:51pm
Current open trades with very small lot size. Trying to learn to hold longer until the indicators tell me otherwise.

USDJPY, I made a few mistakes here. Price was above 200SMA but below 20SMA, should have been looking at shorts but took a long position. Doesn't help Papa Powell spoke today. The RSI wasn't completely above the 50 line. Got trigger happy.

I would like RH's input if possible.
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Remember, the market never lies. It is only we who lie to ourselves.
  • #7,163
  • Jan 11, 2022 1:22pm Jan 11, 2022 1:22pm
Quoting stiffdogg06
Current open trades with very small lot size. Trying to learn to hold longer until the indicators tell me otherwise. USDJPY, I made a few mistakes here. Price was above 200SMA but below 20SMA, should have been looking at shorts but took a long position. Doesn't help Papa Powell spoke today. The RSI wasn't completely above the 50 line. Got trigger happy. I would like RH's input if possible. {image}

I had the same problem as you today.
I opened a couple of trades too early, thinking they crossed the stochastic lines and instead I took the stop.

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  • #7,164
  • Jan 11, 2022 1:41pm Jan 11, 2022 1:41pm
AUDUSD at the time of the close of the first red candle, the stochastics were crossed, only later when the second candle went from red to blue, the stochastics went above, I probably should have waited for the second candle to be confirmed
  • #7,165
  • Edited 2:11am Jan 12, 2022 1:58am | Edited 2:11am
Quoting Given1988
AUDUSD at the time of the close of the first red candle, the stochastics were crossed, only later when the second candle went from red to blue, the stochastics went above, I probably should have waited for the second candle to be confirmed

You need to look at the price swing using the Fractals ( 5 bars completed).

A better setup would be when the bar#5 closed below the first bar#1... but look further left, there are other swing high and swing low too.

Pick only the best setups which can 'clear' the most recent swing high or swing low.


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...

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.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #7,166
  • Jan 12, 2022 2:03am Jan 12, 2022 2:03am
Quoting Given1988
{quote} I had the same problem as you today. I opened a couple of trades too early, thinking they crossed the stochastic lines and instead I took the stop. {image}{image}

GA H4

>>> CONSOLIDATION ....

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wait for a breakout trade!
> see Weekly for direction


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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #7,167
  • Jan 12, 2022 2:20am Jan 12, 2022 2:20am
Quoting emmanuel7788
{quote} GA H4 >>> CONSOLIDATION .... {image} wait for a breakout trade! > see Weekly for direction {image}
Thanks
  • #7,168
  • Edited 7:08am Jan 12, 2022 6:23am | Edited 7:08am
Quoting stiffdogg06
Current open trades with very small lot size. Trying to learn to hold longer until the indicators tell me otherwise. USDJPY, I made a few mistakes here. Price was above 200SMA but below 20SMA, should have been looking at shorts but took a long position. Doesn't help Papa Powell spoke today. The RSI wasn't completely above the 50 line. Got trigger happy. I would like RH's input if possible. {image}
1. The 14,3,3 Stochastic never crossed above the 50 Purple Line, so you can't have a long trade (or at least I can't).

2. The smTMMS indicator also never crossed above the Center Line (because of the 14,3,3 Stochastic)

3. You were basically entering Long up against a trendline going down starting at the high of 1/4/22

Attached Image (click to enlarge)
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BTW, personally, I don't see any useful value in using the 200 sma or the 20 sma on 4hr charts. Yes, sometimes it looks like they matter, but even a stopped clock is right twice a day.
Always a Student, Never a Master - Emulate What Works
  • #7,169
  • Jan 12, 2022 6:57am Jan 12, 2022 6:57am
Quoting RobinHood
{quote} 1. The 14,3,3 Stochastic never rose above the 50 Purple Line, so you can't have a long trade (or at least I can't). 2. The smTMMS indicator also never crossed above the Center Line. 3. You were basically entering Long up against a trendline going down starting at the high of 1/4/22 {image} BTW, personally, I don't see any useful value in using the 200 sma or the 20 sma on 4hr charts. Yes, sometimes it looks like they matter, but even a stopped clock is right twice a day.
Thank you for the analysis.

I don't remember the post # but do you no longer recommend "forgetting the Daily Chart" and using the 200/20SMA on the 4HR charts?
Remember, the market never lies. It is only we who lie to ourselves.
  • #7,170
  • Edited 8:10am Jan 12, 2022 7:25am | Edited 8:10am
Quoting stiffdogg06
{quote} Thank you for the analysis. I don't remember the post # but do you no longer recommend "forgetting the Daily Chart" and using the 200/20SMA on the 4HR charts?
I don't remember that post, but either way I don't see the value now of using the 200/20SMA on the 4HR charts now. That's not to say others don't, it's just that I don't.

The 200/20SMA on charts only have real value (in my opinion) if enough other traders also believe that they do.

Such is often the case with the 200sma on stock charts where gazillions of traders/investors believe that it is the "line in the sand" between a stock being in a bull mode (when price is above it) or a bear mode (when price is below it).

I just don't believe that the same is true on a 4 hr. Forex chart.

Look at this U/J 4 hr. chart. The green line is the 20 sma and the yellow line is the 200 sma. Show me why either one is always useful.

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Always a Student, Never a Master - Emulate What Works
  • #7,171
  • Jan 12, 2022 7:51am Jan 12, 2022 7:51am
Hi guys

Over the past few days talking with some of you, I've been trying to fix some mistakes I was making with the TMS strategy.

After some corrections I decided to start today in an official way.

Instead of using a Demo account (I don't like to use a demo account because you don't have the right psychological pressure) I decided to start a challenge with a prop firm with a 10k account.

What I post are the results of my first day of trading.

MAX daily risk 2%

4 trades of 0.5%.

I thank you all for helping me and I hope you can do it again in the future.

Surely I will still make mistakes and I don't know if I will be able to pass the challenge, but surely thanks to your help I will continue to improve more and more.

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  • #7,172
  • Edited 9:43am Jan 12, 2022 9:03am | Edited 9:43am
Quoting RobinHood
{quote} I don't remember that post, but either way I don't see the value now of using the 200/20SMA on the 4HR charts now. That's not to say others don't, it's just that I don't. The 200/20SMA on charts only have real value (in my opinion) if enough other traders also believe that they do. Such is often the case with the 200sma on stock charts where gazillions of traders/investors believe that it is the "line in the sand" between a stock being in a bull mode (when price is above it) or a bear mode (when price is below it). I just don't believe that...
Completely understand. I've removed them from my charts as they made me second guess myself and the original indicators.

I found the post, it is #6647.

I'll post an update later today (at work right now) of my trades with screenshots for more analysis.

Also, thank you RH for still coming into this thread after 2+ years and helping us out.
Remember, the market never lies. It is only we who lie to ourselves.
  • #7,173
  • Jan 12, 2022 9:04am Jan 12, 2022 9:04am
Quoting Given1988
Hi guys Over the past few days talking with some of you, I've been trying to fix some mistakes I was making with the TMS strategy. After some corrections I decided to start today in an official way. Instead of using a Demo account (I don't like to use a demo account because you don't have the right psychological pressure) I decided to start a challenge with a prop firm with a 10k account. What I post are the results of my first day of trading. MAX daily risk 2% 4 trades of 0.5%. I thank you all for helping me and I hope you can do it again in the...
Do you mind sharing the lot size calculator? It'd be nice to use it while in MT4 instead of switching to a website (https://www.myfxbook.com/forex-calcu...on-size/GBPJPY)
Remember, the market never lies. It is only we who lie to ourselves.
  • #7,174
  • Jan 12, 2022 9:13am Jan 12, 2022 9:13am
Quoting stiffdogg06
{quote} Do you mind sharing the lot size calculator? It'd be nice to use it while in MT4 instead of switching to a website (https://www.myfxbook.com/forex-calcu...on-size/GBPJPY)

I share with you the link where I got it through the market section of mt4
I do not pass you directly the indicator because I do not know where to find it

https://www.mql5.com/en/market/produ...006%3alot+size
  • #7,175
  • Jan 12, 2022 9:47am Jan 12, 2022 9:47am
Quoting stiffdogg06
{quote} Do you mind sharing the lot size calculator? It'd be nice to use it while in MT4 instead of switching to a website (https://www.myfxbook.com/forex-calcu...on-size/GBPJPY)
From Swingman
Attached File(s)
File Type: ex4 smTMMS RR-Calculator_v1.1.ex4   22 KB | 261 downloads
  • #7,176
  • Jan 12, 2022 9:49am Jan 12, 2022 9:49am
Quoting 40PipsAlan
{quote} From Swingman {file}
Thanks, Alan. When I was reading this entire thread, I saw your name a lot. If you don't mind me asking, are you still trading this method or have you moved on?
Remember, the market never lies. It is only we who lie to ourselves.
  • #7,177
  • Jan 12, 2022 10:03am Jan 12, 2022 10:03am
Quoting stiffdogg06
{quote} Thanks, Alan. When I was reading this entire thread, I saw your name a lot. If you don't mind me asking, are you still trading this method or have you moved on?
Still following the thread boss. Have also tried trading using the TMSr oscillator from Swingman but always seemed to get the signal alert, take the trade and the darned thing instantly reverses on me and hits my SL. Obviously there is a special trader instinct thing that i am missing.
  • #7,178
  • Jan 12, 2022 10:22am Jan 12, 2022 10:22am
Quoting stiffdogg06
{quote} Completely understand. I've removed them from my charts as they made me second guess myself and the original indicators. I found the post, it is #6647. I'll post an update later today (at work right now) of my trades with screenshots for more analysis.
Thank you for posting the number of the post I made. That helped a lot.

In all honesty, I had not remembered in what context I was talking about as to how to use the 20sma and the 200sma. So in the context of using them to tell you to only trade in one direction when the 20sma is above or below the 200, I still do agree with the "basic premise" of that concept and I still use it every day when trading stocks.

Now that I am mostly trading stocks, I will tell you a few things about how I currently trade stocks. How I trade stocks is a bit different from how I trade the Forex, mainly because they tend to move a bit differently from each other, and because the same indicators are not available on both platforms. But I DO still only take Crossover Trades and Continuation Trades. * You can see examples of both in the chart I posted below.

1. I don't day trade anymore because it takes too much time and energy. Plus, I simply can't stay tightly focused for long periods of time anymore because I have too many other distractions (from my business) all the time. Phone calls, emails, texts, meetings and appointments, etc.

2. I don't ever trade the Short side, only the Long side.

3. I actually now also use 7 different moving averages. 3 short period, 2 medium period, and 2 long period. They each tell me something I need to know.

4. I mostly only trade the Weekly charts.

Here's my most current trading set-up.

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These dots will ONLY turn blue (signaling Long) when the RSI and the Stochastic are > the 50 line. Therefore, I don't need them on my charts anymore. BUT, the blue/orange dots also take into account the momentum.
Always a Student, Never a Master - Emulate What Works
  • #7,179
  • Jan 12, 2022 10:22am Jan 12, 2022 10:22am
Quoting 40PipsAlan
{quote} Still following the thread boss. Have also tried trading using the TMSr oscillator from Swingman but always seemed to get the signal alert, take the trade and the darned thing instantly reverses on me and hits my SL. Obviously there is a special trader instinct thing that i am missing.

After trying several trades in TMS and TMS(R). I understand one thing, There is no certainty that you will be winner or looser. its the market and which is always right. all we need to do is always try maximize our profit trades and keep losing trades short. I think we can keep the trade until it hits tp or sl (off course entry should be based on trading rules.
  • #7,180
  • Jan 12, 2022 3:39pm Jan 12, 2022 3:39pm
As you can see, I took trades with very small lots (0.01, 0.10, etc), and those ended well. I then figured I should trade the correct lot sizes to correspond to my account size.

With a 6-month-old, I don't have a lot of time to edit charts (hence why I now trade 4HR charts) but I can try if a specific one is requested.
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Remember, the market never lies. It is only we who lie to ourselves.
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