just shorted this pr @ 1.0427, SL @ 1.0657 & TP @ 1.0143. I used the last high & low fractals. D. TF. p
I got in at lower level and still looking OK
OPPORTUNITY IS NOWHERE
- #12,661
- Oct 14, 2011 11:26pm Oct 14, 2011 11:26pm
I got in at lower level and still looking OK
- #12,663
- Oct 15, 2011 12:01am Oct 15, 2011 12:01am
piprac, how did that work for your? Get out at TP or hang in there longer?
I got in at lower level and still looking OK
can i ask what is the name of that indi you have there on your charts ? (The Yellow Lines with the "Take profit targets" on the right)
seems like a pretty interesting handy little tool to have
Don't forget Practice + Patience + Persistence = Profits
- #12,664
- Oct 15, 2011 3:56am Oct 15, 2011 3:56am
hi Callisto
can i ask what is the name of that indi you have there on your charts ? (The Yellow Lines with the "Take profit targets" on the right)
seems like a pretty interesting handy little tool to have
Everyone's got a plan until they get punched in the face
- #12,667
- Oct 15, 2011 2:01pm Oct 15, 2011 2:01pm
piprac, how did that work for your? Get out at TP or hang in there longer?
I got in at lower level and still looking OK
Hmm yeah the weekly does look like it's gonna be a nice long setup for the week. Tho I haven't got a cross on my charts. Green is just about to touch red but definitely no cross.
On the other hand, Im looking at the H4/H1 and this is what I'm seeing on the charts but I may be totally off...
1 Hour: Looks like we have a bearish wedge, maybe indicative that the nice uptrend we've had this month is losing steam...? Also tdi has tweaked and is pointing down towards the 2 o'clock or south even...
That, together with the;
4 Hour: Bearish divergence when looking at the last week, also a sign of possible change in sentiment?
Also, Stoch had been overbought for some time.. specially on 1h
Could we be at a top for this trend?
Of course when I look at PA from the bigger picture, this could just be small retracement and continuation of the uptrend right?
If so, I see us easily breaking past that (weak) resistance at 3900, then that strange 3941 resistance we got from last month (not sure where that came from
)
That would make next target the 4000 mark?
Also the news has been confusing me. No clear strength or good news in either currency it seems. And I cant make anything out of anything from the g20 as far as e/u goes. But I'm a newb so maybe you guys know what the hell is going on?
As it is now, I think I'm waiting for next Mondays candle,will see if it looks like we have momentum to continue towards 1.40, and squeeze some pips out while waiting for the reversal to short...
On the other hand, Im looking at the H4/H1 and this is what I'm seeing on the charts but I may be totally off...
1 Hour: Looks like we have a bearish wedge, maybe indicative that the nice uptrend we've had this month is losing steam...? Also tdi has tweaked and is pointing down towards the 2 o'clock or south even...
That, together with the;
4 Hour: Bearish divergence when looking at the last week, also a sign of possible change in sentiment?
Also, Stoch had been overbought for some time.. specially on 1h
Could we be at a top for this trend?
Of course when I look at PA from the bigger picture, this could just be small retracement and continuation of the uptrend right?
If so, I see us easily breaking past that (weak) resistance at 3900, then that strange 3941 resistance we got from last month (not sure where that came from
)That would make next target the 4000 mark?
Also the news has been confusing me. No clear strength or good news in either currency it seems. And I cant make anything out of anything from the g20 as far as e/u goes. But I'm a newb so maybe you guys know what the hell is going on?
As it is now, I think I'm waiting for next Mondays candle,will see if it looks like we have momentum to continue towards 1.40, and squeeze some pips out while waiting for the reversal to short...
Hmm yeah the weekly does look like it's gonna be a nice long setup for the week. Tho I haven't got a cross on my charts. Green is just about to touch red but definitely no cross.
On the other hand, Im looking at the H4/H1 and this is what I'm seeing on the charts but I may be totally off...
1 Hour: Looks like we have a bearish wedge, maybe indicative that the nice uptrend we've had this month is losing steam...? Also tdi has tweaked and is pointing down towards the 2 o'clock or south even...
That, together with the;
4 Hour: Bearish divergence...
You are almost answering your own concerns here....if you see so much negative information in regards to this trade....DONT TRADE IT...this is what I am talking about....trade the time frame you like, trade the basic method and look for the perfect setups.....any that you see like this that dont tick off all your boxes...let em go...simple......or is it
- #12,672
- Edited Oct 16, 2011 3:58am Oct 15, 2011 10:25pm | Edited Oct 16, 2011 3:58am
Hi, greetings. I am new in this forum. I found TMS very appealing and learnt a lot from you guys. After reading most of your postings, especially Big e's, I would like to set up these rules for my demo trades:--
ENTRY~
Rule #1 on TDI, buy when green line cross above red line and it must be above or crossing yellow line; sell when the opposite happens.
Rule #2 On TDI, green line must be below 68 for buy; above 32 for sell.
Rule #3 on Stochastic, blue line must be above red line for buy; the opposite for sell.
Rule #4 on Stochastic, blue line must be below 80 for buy; above 20 for sell.
Rule #5 on PA chart, a big portion of the candle must cross 5MA yellow line accordingly (cross down for sell; cross up for buy).
Rule #6 on PA chart, the candle color must be consistent with the signal: blue for buy; red for sell.
Rule #7 on PA chart, the entry signal is only valid at 1st or 2nd candle closing (except for bouncing off, see Rule #8).
Rule #8 on TDI, if green line touches red line and bounce off it at candle closing (didn't cross but move away from red line), then enter the trade accordingly (buy if it's above red line; sell if it's below).
EXIT~
Rule #1 Set trailing stop 25 pips for EU and GU, 15 pips for the rest.
Rule #2 Set SL at previous candle HH (sell trades) or LL (buy trades).
Rule #3 Set TP at 100 pips for EU and GB, 80 pips for the rest.
I think this will make it more mechanical and filter out many fake setup's but occasionally may lose out big movement.. I put in yellow lines after reading one of this thread posts in April. I think it's quite useful to gauge general market sentiment/direction within a week or so...
I personally prefer a system that is more mechanical and less subjective/emotional judgment.
I attached 6 H4 charts (instaforex server time is GMT+3) for my rules with marking of each potential entry point :nerd:
green vertical lines = potential winning trades
red vertical lines = potential losing trades
I appreciate any feedback, comments or critics from you wise guys
ENTRY~
Rule #1 on TDI, buy when green line cross above red line and it must be above or crossing yellow line; sell when the opposite happens.
Rule #2 On TDI, green line must be below 68 for buy; above 32 for sell.
Rule #3 on Stochastic, blue line must be above red line for buy; the opposite for sell.
Rule #4 on Stochastic, blue line must be below 80 for buy; above 20 for sell.
Rule #5 on PA chart, a big portion of the candle must cross 5MA yellow line accordingly (cross down for sell; cross up for buy).
Rule #6 on PA chart, the candle color must be consistent with the signal: blue for buy; red for sell.
Rule #7 on PA chart, the entry signal is only valid at 1st or 2nd candle closing (except for bouncing off, see Rule #8).
Rule #8 on TDI, if green line touches red line and bounce off it at candle closing (didn't cross but move away from red line), then enter the trade accordingly (buy if it's above red line; sell if it's below).
EXIT~
Rule #1 Set trailing stop 25 pips for EU and GU, 15 pips for the rest.
Rule #2 Set SL at previous candle HH (sell trades) or LL (buy trades).
Rule #3 Set TP at 100 pips for EU and GB, 80 pips for the rest.
I think this will make it more mechanical and filter out many fake setup's but occasionally may lose out big movement.. I put in yellow lines after reading one of this thread posts in April. I think it's quite useful to gauge general market sentiment/direction within a week or so...
I personally prefer a system that is more mechanical and less subjective/emotional judgment.
I attached 6 H4 charts (instaforex server time is GMT+3) for my rules with marking of each potential entry point :nerd:
green vertical lines = potential winning trades
red vertical lines = potential losing trades
I appreciate any feedback, comments or critics from you wise guys
Focused Thought & Strong Desire Manifest Reality 
- #12,673
- Oct 16, 2011 12:25am Oct 16, 2011 12:25am
It's the standard fib tool with different labels and settings. See his post here http://www.forexfactory.com/showthre...82#post5009382
Don't forget Practice + Patience + Persistence = Profits
- #12,676
- Edited 7:11am Oct 16, 2011 3:38am | Edited 7:11am
- | Joined Sep 2011 | Status: Trader | 66 Posts
Dont try an d "squeeze" pips out of a weekily chart. THe stops you need on a weekly chart are massive so your profit targets should also be substantial to conterbalance your risk.
You are almost answering your own concerns here....if you see so much negative information in regards to this trade....DONT TRADE IT...this is what I am talking about....trade the time frame you like, trade the basic method and look for the perfect setups.....any that you see like this that dont tick off all your boxes...let em go...simple......or is it
My plan is - to stick to my plan! Meaning I will continue to look for the right setups on the tf Im trading, and only enter trades that I am confident about. That is my strict rule for this coming week. As I noticed that my losses were basically the trades where I entered before meeting all the conditions.
Also, Im finding it very hard to ignore the "noise" and trade purely mechanical. How do you ignore things like fundamentals, or chart patterns?
Im not talking about s/r and fib and obvious tools to help decide sl's or tp's, but the analysis of former hours/weeks/days in regards to predicting what is probable to happen next.
I'd would love to know what you guys do. Pure mechanical TMS signals or mix in tech analysis/fundamentals as well?
- #12,678
- Edited 6:10am Oct 16, 2011 3:56am | Edited 6:10am
I Was wondering about how you got your SL/TP targets. Did you get to them after checking daily range levels or daily high/lows, or what?
Thanks in advance and green pips!
.. Gotta learn more from you guys, especially Big E! :nerd:
Focused Thought & Strong Desire Manifest Reality
- #12,680
- Oct 16, 2011 11:25am Oct 16, 2011 11:25am
We have to choose either 1 (mirc or skype) so the focus and energy would be stronger and everyone has to work as a team this would be the main idea. I can just imagine how the london session would be .
there must be no theory discussed there just the analyzing of charts looking for potential setups and the trades for the day. if a potential trade is taken there must be reasons as to why one is taking that trade etc and when other traders feel comfortable with it they can enter it aswel .
If the traders want theory and want to learn...
