In for a EurUSD Short
Signal - 4hr TDI cross down candle #2, 1hr TDI also in agreement cross down
Entry 1 std lot - 5m TDI cross 1.43856 (waited for Stoch overbot and TDI cross down to time entry) TP1 - 15 pips (met already as I type this)
TP2 - 45 pips
TP3 - 75 pips Stop - 20 pips
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Ah now that's interesting. I've been doing a similar thing: taking entry signal off the 4hr or 1hr then moving to the 15m to decide exact entry point, allowing for tighter SLs. So you're drilling right down to the 5m. Your SL is based on last swing high/low on the 5m right? Noticed you've described this in more detail in previous posts. I'll take a look. (Good stuff gets buried so quickly in this thread.)
Ah now that's interesting. I've been doing a similar thing: taking entry signal off the 4hr or 1hr then moving to the 15m to decide exact entry point, allowing for tighter SLs. So you're drilling right down to the 5m. Your SL is based on last swing high/low on the 5m right? Noticed you've described this in more detail in previous posts. I'll take a look. (Good stuff gets buried so quickly in this thread.)
[quote=RogerVF;4871510]Hello, guys, I know these indicators have been posted many times, but I got asked by some members to post my trading template, so here it goes.
How will one relate the slope readings from this TMS Watchdog to the default 12-2, 2-4 and 4-6 angles
Long GU as per chart.
Also watching AU EU U/CHF, they look like they are turning.
AU and EU daily trend is still long (in my opinion) so going short is counter trend.
What do u guys think of this, though its already second candle but the angle looks ok. Im thinking of going short at the close of this candle if the angle is still strong.
What do u guys think of this, though its already second candle but the angle looks ok. Im thinking of going short at the close of this candle if the angle is still strong.
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I am looking to go long this pair. Daily is long and hourly looks to be turning. Could be a bounce of this trendline which when or if tdi turns it could be a good long signal. My 2 cents.
Really drift??? you dont trade the hourly chart at all??
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nah i dont. Ive started trading full lots recently and i like the H4 because theres less noise. Also bigger SL so less chance of being stop hunted or spiked by news etc.
I also found that alot of good H1 moves happened out of no where, they would just spike here or there with out warning and it was more luck than stratergy if you picked a fast or slow moving trade.
H4 provides me with a couple of good trades a week with lots of space between red and green which is a big thing for me these days that you dont always get on H1, it also keeps me from over trading.
i would only trade D1 if i had the patience and account size, but i dont
I am looking to go long this pair. Daily is long and hourly looks to be turning. Could be a bounce of this trendline which when or if tdi turns it could be a good long signal. My 2 cents.
Took this short trade about an hour ago, 40pip SL, move SL to BE after 25 pips, TP at 40 pips. it hasnt really moved much but im applying dcginc's rule of letting the trade play out once set from now on.
Im not posting another system, just a bit of advice from the James16 thread, its something that i keep in the back of my mind and it maybe helpful to some newbies out there.
quote from James16 group thread:
WHATEVER / WHICHEVER WAY YOU DECIDE TO TRADE YOU MUST (AT A MINIMUM):
ON DAILY AND WEEKLY TIME-FRAMES, YOU ONLY DEMO-TRADE FOR THREE CONSECUTIVE PROFITABLE MONTHS IN A ROW. YOU DO NOT PROCEED TO STEP TWO UNTIL COMPLETED.
OPEN AN ACCOUNT WITH HALF OF THE INVESTMENT YOU INTENDED TO GO FULL WITH AND CONTINUE TO ONLY TRADE DAILY AND WEEKLY TIME-FRAMES UNTIL YOU ARE PROFITABLE THREE MONTHS IN A ROW MINIMUM. YOU NEVER RISK MORE THAN TWO PERCENT OF YOUR ACCOUNT ON ANY ONE TRADE. YOU DO NOT PROCEED TO STEP THREE UNTIL STEP TWO IS COMPLETED.
FUND A FULL ACCOUNT AND CONTINUE TO ONLY TRADE DAILY AND WEEKLY TIME-FRAMES UNTIL YOU ARE CONSISTENTLY BUILDING YOUR ACCOUNT FOR AT LEAST SIX MONTHS. YOU NEVER RISK MORE THAN 2 OR 3 PERCENT OF YOUR ACCOUNT ON ANY ONE TRADE.
IF AND WHEN YOU DECIDE TO DAYTRADE ON A SMALL TIME-FRAME AND YOU DON'T FOLLOW THIS TEMPLATE, AT A MINIMUM, YOU ARE ALMOST CERTAINLY GOING TO FIND YOURSELFE IN TROUBLE. IF YOU ARE GOING TO FOLLOW A SYSTEM OR ANY TRADING STYLE AND YOU DON'T FOLLOW THIS TEMPLATE AS FAR AS THE DEMO PROCESS, YOU ARE NOT TREATING IT AS A BUSINESS AND YOU HAVE NO ONE TO BLAME OTHER THAN YOURSELF IF YOU LOSE YOUR MONEY.
IF YOU EVER SUFFER THE LOSS OF 30 TO 35 PERCENT OF YOUR ACCOUNT, YOU STOP TRADING. PERIOD-PARAGRAPH. YOU GO BACK TO DEMO AND FIGURE OUT WHAT WENT WRONG. WHILE DOING THIS, YOU REFUND YOUR ACCOUNT BACK TO ITS ORIGINAL AMOUNT. YOU DO NOT GO BACK TO LIVE TRADING AGAIN UNTIL YOUR DEMO HAS SHOWN YOU WHAT WENT WRONG AND YOUR ACCOUNT IS BACK TO FULL STRENGTH BY WHATEVER MEANS. IF IT TAKES ONE MONTH OR SIX MONTHS, IT DOES NOT MATTER. YOU MUST FOLLOW THIS APPROACH IF YOU DON'T WANT BLOWN ACCOUNT AFTER BLOWN ACCOUNT.
Obviously we trade H4 and H1 but you get the idea,
Hi all,
I took the 4hr cross this morning on the GBPUSD as shown on the chart, it looked quite strong, the candle was a decent size & the TDI had crossed well. The trade is currently -35pips, I have not yet exited as the green TDI is still below the red & it has not yet hit my SL of 1xATR. Is it best to let the trade run as per Rules or because the TDI has hooked back up, is it worth just cutting the loss ? (This is the 3rd time this week this has happened. I am trading live but only at 0.10, so its not really hurting my account, but it is frustrating..)
Long GU as per chart.
Also watching AU EU U/CHF, they look like they are turning.
AU and EU daily trend is still long (in my opinion) so going short is counter trend.
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How you going on this trade mate, noticed it's jumped up quite a few pips, hope you're hanging in there!
Hello, guys, I know these indicators have been posted many times, but I got asked by some members to post my trading template, so here it goes.
How will one relate the slope readings from this TMS Watchdog to the default 12-2, 2-4 and 4-6 angles
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Hi Sabams,
I can't remember exactly where I found it, but the rules one guy quoted (and written on the piece of paper in front of me) were :
Slope Threshold - 4.5 or greater
Bounce Threshold - 3.8 or greater
The thing to remember is that these numbers are constantly updating.
Someone else suggested 5.0 or greater for the slope. I've found 4.5 tends to be pretty good, even 4.0 can work if you're with the trend, but it all depends on how the big picture looks.
The beauty of these numbers is it removes the element of trying to decide what angle it might be on, which seriously changes with zoom.
1 pip at a time ... if the entries are strong, the rest will follow ...
Long GU as per chart.
Also watching AU EU U/CHF, they look like they are turning.
AU and EU daily trend is still long (in my opinion) so going short is counter trend.
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hi Dean
but I cant ignor the leader signal(EU) H4 chart plus do not forget that GU is foxy
Hi all,
I took the 4hr cross this morning on the GBPUSD as shown on the chart, it looked quite strong, the candle was a decent size & the TDI had crossed well. The trade is currently -35pips, I have not yet exited as the green TDI is still below the red & it has not yet hit my SL of 1xATR. Is it best to let the trade run as per Rules or because the TDI has hooked back up, is it worth just cutting the loss ? (This is the 3rd time this week this has happened. I am trading live but only at 0.10, so its not really hurting my account, but it is frustrating..)...
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Hi craig
Its your trade so no one can tell you what to do. Seemed like a good set up but all the move happened pre LO and it stopped on its lower TL (clear from traditional 4hr chart) and 50% of Y's range (GU likes 50%).
There is a lot of R slightly higher up not sure if your stop will hold though.
Hi all,
I took the 4hr cross this morning on the GBPUSD as shown on the chart, it looked quite strong, the candle was a decent size & the TDI had crossed well. The trade is currently -35pips, I have not yet exited as the green TDI is still below the red & it has not yet hit my SL of 1xATR. Is it best to let the trade run as per Rules or because the TDI has hooked back up, is it worth just cutting the loss ? (This is the 3rd time this week this has happened. I am trading live but only at 0.10, so its not really hurting my account, but it is frustrating..)...
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My 2c ... on the H1 it looks like it'll bounce up to the daily R1 and then possibly come down again ... if you can at least wait til it comes back down you might at least make a small profit ...
The thing is, if you exit now, I'm presuming you're taking a loss. Does it hurt to let it run and let it move into profit? Even if you only have a 50/50 chance of it going into profit, that's better than the 100% guaranteed loss you're considering.
I know it's a tricky area ... there's numerous posts here of people who exited too early, but I'm sure there's people that stayed in when they shouldn't have too ... my personal philosophy is to (try and) let trades run their own course as much as possible unless there is strong evidence that it's time to exit. By making use of TS, SL to BE etc, I'm increasing my odds that I at least get something if it goes into the + side.
Just my 2c though - at the end of the day it's your $$.
1 pip at a time ... if the entries are strong, the rest will follow ...
How you going on this trade mate, noticed it's jumped up quite a few pips, hope you're hanging in there!
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Mate the "hanging in there part really kills me...I cant quite learn how to walk away and comfortably leave it yet....even so, I am still on it and up 15 with SL at break even as I dont like the look of PA. If it heads back up towards 1.64 I will exit.
