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  • #10,321
  • Feb 17, 2013 10:55pm Feb 17, 2013 10:55pm
My friends,

last week I had a very busy week, so I could monitor the markets just very limited.

That is the caue of opening just one trade on USDCAD H4.

The reasons for entering: uptrend (above ema(200))+bullish TDI cross+strong support of BRN of 1.00000. Now I see It would have been better to enter on 15 Feb with a more steep TDI cross, but the support of the BRN (which coincides the Fib 61.8 of the previous week of the entry date). I closed half of the position manually just above Fib 138.2 (profit 50 pips) and I let the rest run. My final TP is just below Fib 161.8, my SL is set to BE+some pps so this trade is a free one now.

I am unsure that perhaps this move can be identified also as an ABCD now in the phase of compleeting the CD leg?

take care,
thrax
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  • #10,322
  • Feb 17, 2013 11:47pm Feb 17, 2013 11:47pm
Quoting Phx62
TheScorpS,
May I ask why you let the trade go against you for 48 pips? Once your entry candle pulled back from the EMA and the next candle did not retest the EMA, I would have considered closing the long trade and entering short at the opening of the red candle, especially since it was the LO candle....confirmed by the TDI. Even a conservative trade taken on a break below the last blue candle would have netted over 50 pips........Just a little different perspective on trades like this.....one cannot become married to a position......when price...
I actually have lost my account connection, I tried to reconnect many times without any success, you are right I would sure have exit with less loss, it will take time until I can manage my trades in a better way

I actually would like to be able to lose no more than in the range of 20 pips or even less with experience I would be able to

Thanks for concern
I Have Learned to Take Some Losses to Make Profits
  • #10,323
  • Feb 18, 2013 3:36am Feb 18, 2013 3:36am
took a long eurusd out with about 26 pips. nice divergence on stochastic. there was a safer entry point at the pinbar hour later. initially planned to hold it bit longer but price started coming off and since its bank holiday in US, i have decided to take whats on table. dont think i will take more trades today.
Attached Image (click to enlarge)
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  • #10,324
  • Feb 18, 2013 3:53am Feb 18, 2013 3:53am
Gratz for these morning pips

Was it only divergence + cross on TDI? Where was your initial SL?

Cheers,
M.
Remember I'm a newbie!
  • #10,325
  • Feb 18, 2013 3:56am Feb 18, 2013 3:56am
thanks, yes, the TDI cross and upward sloping market base line. moreover, mondays tend to range a lot. stop was 35 pips on this one (fridays low)
  • #10,326
  • Feb 18, 2013 6:13am Feb 18, 2013 6:13am
entered short on eurjpy SL 40 TP 50 at ema 200, but going to move my stop quickly to BE at about 20 pips profit since i expect ranging markets
  • #10,327
  • Feb 18, 2013 6:34am Feb 18, 2013 6:34am
I'm in aswell. Did not post it in here, coz to me it is a very risky one. Something to track the rate and study rather than serious entry. Went short after breaking the bottom of inside bar.

Divergence, long wick, inside bar, TDI cross.

Cheers,
M.
Remember I'm a newbie!
  • #10,328
  • Feb 18, 2013 7:58am Feb 18, 2013 7:58am
Quoting TheScorpS
I actually have lost my account connection, I tried to reconnect many times without any success, you are right I would sure have exit with less loss, it will take time until I can manage my trades in a better way

I actually would like to be able to lose no more than in the range of 20 pips or even less with experience I would be able to

Thanks for concern
It is possible to share your xhart screen tpl
  • #10,329
  • Feb 18, 2013 8:48am Feb 18, 2013 8:48am
Quoting mierzyk
I'm in aswell. Did not post it in here, coz to me it is a very risky one. Something to track the rate and study rather than serious entry. Went short after breaking the bottom of inside bar.

Divergence, long wick, inside bar, TDI cross.

Cheers,
M.
are you still in? my SL was moved to BE when i was up 20 pips. went about 30 pips in my favour before getting stopped out at 0. but it seems like its going down again but i am staying away
  • #10,330
  • Feb 18, 2013 8:55am Feb 18, 2013 8:55am
tonny47,

Nope, I'm not in. Closed at BE aswell. TP at EMA200 was not hit. Besides, Draghi was about to speak which made this trade really hazardous.

Talk to you tommorow!
Cheers,
M.
Remember I'm a newbie!
  • #10,331
  • Feb 18, 2013 9:03am Feb 18, 2013 9:03am
Quoting Tradermurat
It is possible to share your xhart screen tpl
Do you mean my Medtatrader Template? which I'm using for this strategy
I Have Learned to Take Some Losses to Make Profits
  • #10,332
  • Feb 18, 2013 10:13am Feb 18, 2013 10:13am
Yes sir u will post it later???
  • #10,333
  • Feb 18, 2013 11:36am Feb 18, 2013 11:36am
Traders Trick Entry. TTE. For the 123 activists on this thread. Here is a little trick that can make a big difference. You have seen me take entries earlier than the break of the 2 point, this is why.

Enjoy
Attached File(s)
File Type: pdf Traders_Trick_Entry.pdf   139 KB | 809 downloads
Cut your Losers short and let your Winners run.
  • #10,334
  • Feb 18, 2013 1:37pm Feb 18, 2013 1:37pm
Quoting Tradermurat
Yes sir u will post it later???
Please allow me to post it tomorrow , just to make sure that its the complete template which I use

Thank You

Dee, thanks for this valuable PDF, yes sometime I would like to enter before the completion of the leg when Price Action is strong
I Have Learned to Take Some Losses to Make Profits
  • #10,335
  • Feb 18, 2013 10:38pm Feb 18, 2013 10:38pm
Quoting thrax
...My final TP is just below Fib 161.8...
Fellow traders,

just a quick update: the price reached the Fib 161.8 level and hit my TP. I just do like when a plan plays out like this.

I am just curious that will we see the CD leg completion?

take care,
thrax
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  • #10,336
  • Feb 18, 2013 10:59pm Feb 18, 2013 10:59pm
Quoting Tradermurat
It is possible to share your xhart screen tpl
This is my chart template , I just download some indies available in the forum, added some EMAs and built this template, I would love one day to edit some of the indis and build my chart the way I like to view it.


Thank You
Attached File(s)
File Type: tpl thescorps.tpl   13 KB | 504 downloads
I Have Learned to Take Some Losses to Make Profits
  • #10,337
  • Feb 18, 2013 11:05pm Feb 18, 2013 11:05pm
Quoting dee50
Traders Trick Entry. TTE. For the 123 activists on this thread. Here is a little trick that can make a big difference. You have seen me take entries earlier than the break of the 2 point, this is why.

Enjoy
Nice one Dee. I have seen the pattern many times over and have often entered ahead of the 1/2/3 official break.
"To live with Passion, it takes Courage and Grace to survive"
  • #10,338
  • Feb 19, 2013 2:22am Feb 19, 2013 2:22am
Hi, I'm new to this forum, and new to this method. Still relatively new to Forex and have finished studying the basics after a couple of months. Now looking for a "major discipline" to study in. This looks to be up my alley.

A few questions if an experienced member could so kindly take the time to help:

1)Major difference between S3 and TMS?
2)Is one mechanically better than the other and more suited for beginners?
3)Is the system still the same as stated on the 1st post, or has there been a major change implemented that I should know about?

Cheers,

Tom.
  • #10,339
  • Feb 19, 2013 3:27am Feb 19, 2013 3:27am
First trade of the Method. Both losses. Learn to fight another day I guess.

1. EURUSD 1H @ London Open

Took a LONG trade at London Open
TDI crossed
based on what I thought that PA broke the Asian Session towards the bottom
But after into the trade, I realized it only broke downside of the body of the Asian Session not the low of the session. At the same time, TDI reversed. So i closed the trade at -12pips.

2. GBPUSD 1H @ London Open

Took SHORT trade at London Open
TDI has yet to crossed (anticipating) as previous candle was a Pin Bar
PA move against me
Closed the trade 1hour later at a -18pips

Looking back, for both pairs, PA was ranging and slow and I should probably only take the trade after a break of the S/R (looking left).

note: the above is my thoughts on the trades I took. Appreciate any comments from guru here.
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  • #10,340
  • Feb 19, 2013 4:24am Feb 19, 2013 4:24am
Quoting otiose
First trade of the Method. Both losses. Learn to fight another day I guess.

1. EURUSD 1H @ London Open

Took a LONG trade at London Open
TDI crossed
based on what I thought that PA broke the Asian Session towards the bottom
But after into the trade, I realized it only broke downside of the body of the Asian Session not the low of the session. At the same time, TDI reversed. So i closed the trade at -12pips.
I am far from being a guru. Still learning this system but EUR/USD is ranging. Look at the candles. They got wicks on both sides. Price is sitll trying to break the 800-EMA since Friday and TDI is around 50 lvl crossing up and down constantly. Besides we are below the 200-EMA with the 200-EMA sloping down, so trading long is also countertrend. I'll wait on the sideline until things clear up a little.
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