DeMark TDST Trading | Page 13 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Mouteki/Demark Trendlines 19 replies

DeMark Indicators (ADVANCED) 311 replies

modify Mouteki/ Demark _trend _new indicator? 62 replies

DeMark TDF Trading 287 replies

Anyone following Tom DeMark's methods? 2 replies

Attachments: DeMark TDST Trading
Exit Attachments

DeMark TDST Trading

  • #241
  • Nov 30, 2009 1:32pm Nov 30, 2009 1:32pm
Quoting FXSnipe
foggytrader. it seems to me you do not stick to one timeframe to enter your trades, that is 5 minute charts, or your trades are governed only by the risk level?
Yes, correct. Primarily I stick to the 5 minute timeframe but if there is a cluster of TDST support/resistance levels on multiple timeframes I will take a bounce from those levels assuming the risk suits.

Remember, the reason I started this thread is to show people how to trade TDST support and resistance levels as I do. I am posting my analysis and giving directional recommendations however, it is entirely up to the trader to decide for themselves the risk, timeframe and direction they want to trade. To be a good trader you must understand the markets and be able to look at a chart with a subjective view and decide how you would like to trade. I am simply showing you a good method of how to enter for very little risk, after that you need to use your own experience and skill to make a return.

I would like to think I am helping people learn how to subjectively trade currency pairs with little risk, then I am happy.

Cheers
Foggytrader
  • #242
  • Nov 30, 2009 2:23pm Nov 30, 2009 2:23pm
Attached Image


EURJPY

Just for training purposes here as I had to pop out today and missed this one. As posted in my analysis yesterday, I was looking for an opportunity to go long on this pair. The chart below shows a nice entry on the 5 minute chart, long at 129.17 with a stoploss at 128.85. Looking quite well now, but I am sure there will be more opportunities.

Attached Image (click to enlarge)
Click to Enlarge Name: 30.11.09-DeMark.jpg Size: 208 KB


Cheers
Foggytrader
  • #243
  • Nov 30, 2009 3:23pm Nov 30, 2009 3:23pm
FoggyTrader, how is it possible You don't miss most of the signals on most of all the timeframes? Do You use some kind of alert or sth?
  • #244
  • Nov 30, 2009 4:12pm Nov 30, 2009 4:12pm
Quoting gutek04
FoggyTrader, how is it possible You don't miss most of the signals on most of all the timeframes? Do You use some kind of alert or sth?
I use the metatrader alert so I know if a TDST support/resistance levels are hit. Unfortunately, I can't be at my screen 24 hours a day so sometimes I miss a trade or two. My advice to you would be not to let it worry you, there is always another opportunity. It is just not possible to catch every trade on every timeframe, just take what you can get and if you miss a few you miss a few, so long as you keep making a profit at the end of each week, month and year. I don't let those type of things alter how I trade, I just get on with it.

Hope this answers your question.

Cheers
Foggytrader
  • #245
  • Nov 30, 2009 4:16pm Nov 30, 2009 4:16pm
Attached Image


GBPUSD

After reviewing the daily chart I have decided to move this trade to breakeven. We made a higher high than Friday and closed lower, I would prefer to limit my exposure to this trade.

Attached Image (click to enlarge)
Click to Enlarge Name: 30.11.09-30min-c.jpg Size: 198 KB


Cheers
Foggytrader
  • #246
  • Nov 30, 2009 5:25pm Nov 30, 2009 5:25pm
Quoting foggyTrader
Yes, correct. Primarily I stick to the 5 minute timeframe but if there is a cluster of TDST support/resistance levels on multiple timeframes I will take a bounce from those levels assuming the risk suits.

Remember, the reason I started this thread is to show people how to trade TDST support and resistance levels as I do. I am posting my analysis and giving directional recommendations however, it is entirely up to the trader to decide for themselves the risk, timeframe and direction they want to trade. To be a good trader you must understand the...
Hi Foggytrader,
You have done well explaining this concept, I have had Tom DeMark's book for a few years, and have been aware of this set up, but have never applied it, as I didnt like to count the bars. Indicators are great for doing it, and your thread has drawn my attantion to it. So I am getting back to study The New Market Timing Techniquies. Lets see how it will develop.
Thanks for the thread and your commitment to it make so useful to other traders.
Wishing you many good trades,
2be
Make sure losses are small and profits are bigger!
  • #247
  • Dec 1, 2009 12:59am Dec 1, 2009 12:59am
Attached Image


EURJPY

Now I hope all you traders that can trade the Asian session caught this one last night. As I recommended on Sunday night, I was looking for opportunities to go long on this pair. I missed one yesterday afternoon but there was an even better one last night with only 12 pips risk. As you can see from the picture below, TDST support was at 129.31, we made a low of 129.31 and a bounce. Very nice setup with only 12 pips risk.

Attached Image (click to enlarge)
Click to Enlarge Name: 01.12.09-DeMark.jpg Size: 170 KB


Just to update everyone, I have been using a trade management file for all my entries to calculate how they would fair using my 2% risk 7% target idea. I can tell you that yesterday, my USDCAD trade would have made 2% profit then breakeven for the second unit. The EURJPY trade (which yes I missed but can still count) would have made 7% profit. The GBPUSD trade would still be open and down a little so we will call that one -2%. Then the trade in this post would have banked 7% when we hit 130.02 last night as the risk was so small. So thats 14% up for the week so far. I am having the file coded still but hope to start using it in the new year.

Cheers
Foggytrader
  • #248
  • Dec 1, 2009 1:07am Dec 1, 2009 1:07am
Quoting 2be
Hi Foggytrader,
You have done well explaining this concept, I have had Tom DeMark's book for a few years, and have been aware of this set up, but have never applied it, as I didnt like to count the bars. Indicators are great for doing it, and your thread has drawn my attantion to it. So I am getting back to study The New Market Timing Techniquies. Lets see how it will develop.
Thanks for the thread and your commitment to it make so useful to other traders.
Wishing you many good trades,
2be
Thankyou 2be,

Well I always wondered why none of the DeMark threads have ever taken off here so decided it was about time it was done right. The actually entry is so easy, there is only a line and a candle. It is basically mechanical in rule, the chart is pleasing on the eye and the risk is really small. What more do you want!?

I would recommend you get the DeMark Indicators (Bloomberg Market Essentials: Technical Analysis) by Jason Pearl. It is the most advanced DeMark book out there, it gives you the rules for all of Thomas DeMarks stuff.

Cheers
Foggytrader
  • #249
  • Dec 1, 2009 1:24am Dec 1, 2009 1:24am
Attached Image


GBPCHF

Sorry folks, didn't really get time to post this one before it all happened but I am quite happy to take longs on this pair at current levels while we remain bullish on the daily BAT and today we are on the 9th bar of a TD buy setup as shown in the first chart below. The sceond chart below shows the entry.

Attached Image (click to enlarge)
Click to Enlarge Name: 01.12.09-Daily.jpg Size: 238 KB


Attached Image (click to enlarge)
Click to Enlarge Name: 01.12.09-DeMark.jpg Size: 217 KB


Cheers
Foggytrader
  • #250
  • Dec 1, 2009 1:32am Dec 1, 2009 1:32am
Just to update you on my current view on each pair, nothing has changed since Sunday night apart from GBPCHF. Looks like I move my GBPUSD trade to breakeven to quickly but thats life. I made the decision which I was happy with at the time and I don't dwell on these things because I know with DeMark that there is always another opportunity around the corner.

AUDUSD - Sidelined
EURGBP - Sidelined
EURJPY - Long
EURUSD - Sidelined
GBPJPY - Long
GBPCHF - Long
GBPUSD - Long
USDCAD - Long
USDJPY - Sidelined

Cheers
Foggytrader
  • #251
  • Dec 1, 2009 4:16am Dec 1, 2009 4:16am
Hi Foggytrader,
The book has been orderred from Amazom, could not risk not to have it. (it is just over £10.00, so not a fortune). I have read the previous two books by Tom DeMark, it takes a bit of commitment to get out the goddness from them, so a simplified verssion of Tom's work is most welcommed. I have been using some of his indicators for several years, but not the seqentialone, so I am returning to it now.
BTW yesterday, good call on G/U, the pair I trade most.
Have a great day,
2be

Quoting foggyTrader
Thankyou 2be,

Well I always wondered why none of the DeMark threads have ever taken off here so decided it was about time it was done right. The actually entry is so easy, there is only a line and a candle. It is basically mechanical in rule, the chart is pleasing on the eye and the risk is really small. What more do you want!?

I would recommend you get the DeMark Indicators (Bloomberg Market Essentials: Technical Analysis) by Jason Pearl. It is the most advanced DeMark book out there, it gives you the rules...
Make sure losses are small and profits are bigger!
  • #252
  • Dec 1, 2009 4:27am Dec 1, 2009 4:27am
Quoting foggyTrader
Just to update you on my current view on each pair, nothing has changed since Sunday night apart from GBPCHF. Looks like I move my GBPUSD trade to breakeven to quickly but thats life. I made the decision which I was happy with at the time and I don't dwell on these things because I know with DeMark that there is always another opportunity around the corner.

AUDUSD - Sidelined
EURGBP - Sidelined
EURJPY - Long
EURUSD - Sidelined
GBPJPY - Long
GBPCHF - Long
GBPUSD - Long
USDCAD - Long
USDJPY - Sidelined

Cheers
Foggytrader
That is absolutely the right attitude.
Markets have been very nervous for the last several months, so if a strategy provides good pips at the current conditions, it will be even better when the currencies trends last a bit longer as it used to be.
Make sure losses are small and profits are bigger!
  • #253
  • Dec 1, 2009 4:47am Dec 1, 2009 4:47am
Quoting 2be
Hi Foggytrader,
The book has been orderred from Amazom, could not risk not to have it. (it is just over £10.00, so not a fortune). I have read the previous two books by Tom DeMark, it takes a bit of commitment to get out the goddness from them, so a simplified verssion of Tom's work is most welcommed. I have been using some of his indicators for several years, but not the seqentialone, so I am returning to it now.
BTW yesterday, good call on G/U, the pair I trade most.
Have a great day,
2be
Thanks 2be,

Will be good to have someone else on board. I am travelling at the moment so wont be making any trades in the next 3 hours as the connection while travelling is not the best. Didn't look like there was much going on when I last checked 5 minutes ago and my GBPCHF trade is looking ok.

Cheers
Foggytrader
  • #254
  • Edited 5:25am Dec 1, 2009 5:03am | Edited 5:25am
well, I had just entered short on GU after failure candle on m5 TDST, will see what happen ;] -> stopped by SL next TDST is on h1.
  • #255
  • Edited 5:25am Dec 1, 2009 5:23am | Edited 5:25am
Quoting gutek04
well, I had just entered short on GU after failure candle on m5 TDST, will see what happen ;]
Hi Gutek,
G/U seems to be trending up, and the count on M5 seems to throw a continuation atm, so I am not shorting it atm. Are you using BAT or something else to assist in trend strenght and direction?
The sequential indicator on shorter TF migh also show a continuation, but I have to to some studies of this subject.
Make sure losses are small and profits are bigger!
  • #256
  • Edited 8:02am Dec 1, 2009 5:35am | Edited 8:02am
Well, I guess that I also need to study this subject for a while. I dont use BAT idicator but I watch higher TF for channels, support, resistances and momentum candles to have some bigger picture of current situation. SL happens
Attached Image (click to enlarge)
Click to Enlarge Name: TDsell order.GIF Size: 33 KB
  • #257
  • Dec 1, 2009 8:10am Dec 1, 2009 8:10am
Quoting gutek04
Well, I guess that I also need to study this subject for a while. I dont use BAT idicator but I watch higher TF for channels, support, resistances and momentum candles to have some bigger picture of current situation. SL happens
Unlucky with the stoploss Gutek, but as you say they do happen. As you know I am only looking for long entries on GU so short wasn't really the play although it was a good failure. Atleast you certainly understand the entry method, you just need to master what direction to take or whether to take no direction at all.

As I travelled back home today my GBPCHF made good progress and also reached the 7% of account target at 1.6600. That is now 2 EURJPY 7% wins and one GBPCHF 7% win this week along with a 2% win in USDCAD and a 2% win with GBPUSD. The latter will make the 5% part of the target should it hit 1.6646 any time soon. But regardless of that, so far that would be 25% profit for the week so far. I don't really like to boast about numbers I haven't really actually made but I think I can in this instance as I have posted all my trades along with analysis of which direction I was looking for the day before so I can say if I use this particular money management rule that my profits may increase. As I posted earlier, I am getting the scripts coded so anyone who wants to try them can.

Cheers
Foggytrader
  • #258
  • Dec 1, 2009 9:14am Dec 1, 2009 9:14am
Attached Image


GBPJPY

Still happy to take longs here, it is actually a double touch and failure here although it is at the top of the daily range which isn't the best but know one really knows. We have just closed below the first TDST support of 143.84 and we are currently below the low of the touch candle as I speak so I will likely cancel this one in 2 minutes.

Attached Image (click to enlarge)
Click to Enlarge Name: 01.12.09-DeMark.jpg Size: 224 KB


Cheers
Foggytrader
  • #259
  • Dec 1, 2009 9:29am Dec 1, 2009 9:29am
Attached Image


GBPJPY

Trade has been triggered and I am now long at 144.12 with a stoploss of 143.71.

Attached Image (click to enlarge)
Click to Enlarge Name: 01.12.09-DeMark-2.jpg Size: 207 KB


Cheers
Foggytrader
  • #260
  • Dec 1, 2009 10:50am Dec 1, 2009 10:50am
foggytrader, im also long around the a little lower than that I have been guilty and always seem to chicken of trades too early , working on myself, just out of curiosity any good book you read that really helped you in your trading?
1 trader viewing now