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Trading Made Simple

  • #17,161
  • Apr 8, 2013 3:25pm Apr 8, 2013 3:25pm
Good night guys! thanks for nice trading day..I am going to bed. It will go sideways anyway, now...
  • #17,162
  • Edited 7:24pm Apr 8, 2013 7:06pm | Edited 7:24pm
Guys, new to this system, and still in the process of reading (and learning) all the posts. Just want to get your guys feedback:

Looking at E/U 4H chart, would this (red vertical line) be a valid entry? Green TDI line "is crossing" the red line on the current TF. But should I wait for TF to close and confirm the cross to go long on the next TF (which will then be candle 3)?

BTW, I'm also seeing green TDI line pushing to the 68 level, so may have to be a little cautious.

Any thoughts/comments/other factors to note? Thanks.
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  • #17,163
  • Apr 8, 2013 7:50pm Apr 8, 2013 7:50pm
Quoting greenfields
Guys, new to this system, and still in the process of reading (and learning) all the posts. Just want to get your guys feedback: Looking at E/U 4H chart, would this (red vertical line) be a valid entry? Green TDI line "is crossing" the red line on the current TF. But should I wait for TF to close and confirm the cross to go long on the next TF (which will then be candle 3)? BTW, I'm also seeing green TDI line pushing to the 68 level, so may have to be a little cautious. Any thoughts/comments/other factors to note? Thanks. {image}
Hi, I’m a newbie too on this but I’d like to share my(hopefully) growing understanding. I would not take this trade, 1 the TDI is crossing too high on the scale and 2, it doesn’t look as if the green signal line is coming through at the 12-2 on the clock. I have been looking at the historyof several pairs and I'm beginning to see “good set-ups” as was recommended in previous posts. Thanks for posting this for discussion.

Dave.
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  • #17,164
  • Apr 8, 2013 8:52pm Apr 8, 2013 8:52pm
Quoting fxscalp1
Hi, I’m a newbie too on this but I’d like to share my(hopefully) growing understanding. I would not take this trade, 1 the TDI is crossing too high on the scale and 2, it doesn’t look as if the green signal line is coming through at the 12-2 on the clock. I have been looking at the historyof several pairs and I'm beginning to see “good set-ups” as was recommended in previous posts. Thanks for posting this for discussion. Dave.
Yes, I agree with everything you said. And, of course, if we look at H1 we see that right now buying is not a very smart move.
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Gentlemen always play by the rules. If they can't, they change the rules.
  • #17,165
  • Apr 8, 2013 8:56pm Apr 8, 2013 8:56pm
eur/usd

set a pending entry order above the high around 1.3067 and wait till the market is ready to move
  • #17,166
  • Apr 8, 2013 9:01pm Apr 8, 2013 9:01pm
Quoting fxscalp1
Hi, I’m a newbie too on this but I’d like to share my(hopefully) growing understanding. I would not take this trade, 1 the TDI is crossing too high on the scale and 2, it doesn’t look as if the green signal line is coming through at the 12-2 on the clock. I have been looking at the historyof several pairs and I'm beginning to see “good set-ups” as was recommended in previous posts. Thanks for posting this for discussion. Dave.

Thanks Dave and Favorite on your points. I too am wary of the TDI cross occurring at a high level and agree this should be taken into consideration when taking the trade.

Hope to reach the stage of seeing good set ups as you have. I'm still in the phase of learning to identify and discern solid entry points from risky ones, and being confident about my entries. This thread has been great, everyone is constructive in helping each other out.
  • #17,167
  • Apr 8, 2013 9:28pm Apr 8, 2013 9:28pm
Quoting allisonmagic
eur/usd set a pending entry order above the high around 1.3067 and wait till the market is ready to move
It's interesting what happened to the previous pending order? Oh, bummer! GBPUSD is still 1.5268. Doesn't want to go to 1.5400...

Quoting allisonmagic
pending at 1.5256 would be a good idea. TP around 54
No wonder BigE never recommended pending orders...
Gentlemen always play by the rules. If they can't, they change the rules.
  • #17,168
  • Apr 8, 2013 9:34pm Apr 8, 2013 9:34pm
Quoting greenfields
Thanks Dave and Favorite on your points.
Sure! Any time!
Gentlemen always play by the rules. If they can't, they change the rules.
  • #17,169
  • Apr 8, 2013 9:51pm Apr 8, 2013 9:51pm
Hi, I have been testing TMS system for while but there is something that I don't full understand, while I have followed all interactions that I have seen on this thread.

The problem I'm facing, let's say for example if I'm going long on EUR/JPY on the direction of the main trend to minimize the risk of loss which was "up", I see the green crossing the red and directing "up" on TDI and Stochastic directing "up" as well. I Enter long (Buy) on the beginning of the first or second candle ONLY. But after while I will find the market is ranging "going flat" and sometimes the market change direction too and I find myself losing.

I have attached a picture of my chart and I have marked my entry and exit points, would someone please tell me what am I doing wrong here! and explain to me how to avoid entering a trade that will range (With TMS system, how to determine whether the market will continue same direction or will range before taking a trade with all signs as per TMS system)?

Thanks
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  • #17,170
  • Apr 8, 2013 10:08pm Apr 8, 2013 10:08pm
Quoting rino88au
Hi, I have been testing TMS system for while but there is something that I don't full understand, while I have followed all interactions that I have seen on this thread. The problem I'm facing, let's say for example if I'm going long on EUR/JPY on the direction of the main trend to minimize the risk of loss which was "up", I see the green crossing the red and directing "up" on TDI and Stochastic directing "up" as well. I Enter long (Buy) on the beginning of the first or second candle ONLY. But after while I will find the market is ranging...
You take trade during consolidation, all candles were small, the TDI cross weak, on low angle, there was no momentum at time taking trade. You close yorself?? Red line was rising up all the time and having right SL finally trade worked out.
Right entry was on first big candle
JacekPreserve Precious Capital
  • #17,171
  • Apr 8, 2013 10:14pm Apr 8, 2013 10:14pm
Quoting rino88au
Hi, I have been testing TMS system for while but there is something that I don't full understand, while I have followed all interactions that I have seen on this thread. The problem I'm facing, let's say for example if I'm going long on EUR/JPY on the direction of the main trend to minimize the risk of loss which was "up", I see the green crossing the red and directing "up" on TDI and Stochastic directing "up" as well. I Enter long (Buy) on the beginning of the first or second candle ONLY. But after while I will find the market is ranging...
I said several times that if you can trade H1, you should trade H1, not H4. But if you want to trade H4, you have to look at H1 too. You entered when H1's movement up was practically over. I wonder how big was your SL...
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Gentlemen always play by the rules. If they can't, they change the rules.
  • #17,172
  • Apr 8, 2013 10:47pm Apr 8, 2013 10:47pm
Quoting pawpaw1000
and if you were to take a trade off daily? As long as we stay below that 50% fibo (which is right at the last H1 swing high the chart I posted) I'll stay short. Daily pattern is very bearish and have been waiting for AUD bearish move for a while now. I usually do close once I get my 1 to 1 or 2 to 1 RR but this one just looks too good...
Got stopped out of audusd... Relieved in a way as I wasnt following the rules but rather Hoping it would turn. Daily still bearish and if tdi gives me the signal Ill jump in...
@pawpaw1000 on Twitter
  • #17,173
  • Apr 8, 2013 10:54pm Apr 8, 2013 10:54pm
Quoting Jackub
You take trade during consolidation, all candles were small
What did you mean by all candles were small (did you mean the previous red candles before my entry) ?

If you meant the blue coming candles after my entry. then how could you know in advance if candles will be small or long?

Quoting Jackub
the TDI cross weak, on low angle, Red line was rising up all the time
The green on the TDI with pointing up and red was point on angle kida flat

Quoting Jackub
Right entry was on first big candle
Which big candle are you talking about, would you please mark it on my chart.

thanks
  • #17,174
  • Apr 8, 2013 11:02pm Apr 8, 2013 11:02pm
Quoting Favorite
I said several times that if you can trade H1, you should trade H1, not H4. But if you want to trade H4, you have to look at H1 too. You entered when H1's movement up was practically over. I wonder how big was your SL... {image}
But most of the times H1 Chart gives totally different direction and signals than the main trend and the H4 chart! So how could you work on H1 and trade on H4 if you are getting different signals and directions?

I did exit by myself with -54 pips loss @ 1Lot
  • #17,175
  • Apr 8, 2013 11:22pm Apr 8, 2013 11:22pm
Quoting rino88au
I did exit by myself with -54 pips loss @ 1Lot
That really sucks! That's one more reason to trade H1 - H1 needs much smaller SL. You can be pretty much safe with 30 pips SL.

Quoting rino88au
But most of the times H1 Chart gives totally different direction and signals than the main trend and the H4 chart! So how could you work on H1 and trade on H4 if you are getting different signals and directions?
That's the whole point! If you trade H1, you just trade H1. If you trade H4 you have to consider both H1 and H4, otherwise you either lose or break-even! But it is possible to find the situation when both H1 and H4 go the same direction, you just need to watch more pairs.
Gentlemen always play by the rules. If they can't, they change the rules.
  • #17,176
  • Apr 8, 2013 11:34pm Apr 8, 2013 11:34pm
Quoting Favorite
That really sucks! That's one more reason to trade H1 - H1 needs much smaller SL. You can be pretty much safe with 30 pips SL. That's the whole point! If you trade H1, you just trade H1. If you trade H4 you have to consider both H1 and H4, otherwise you either lose or break-even! But it is possible to find the situation when both H1 and H4 go the same direction, you just need to watch more pairs.
I understand, can you scalp with this TMS system?? I know this system is for h1 and h4 but have u ever tried to scalp with it?

Thanks
  • #17,177
  • Apr 8, 2013 11:42pm Apr 8, 2013 11:42pm
Quoting rino88au
I understand, can you scalp with this TMS system?? Thanks
It depends.

1). You can scalp M5 with this TMS system. The same rules, the same template, the same indicators. Unfortunately M5 gives more false signals than H1, but on the whole you can make pretty good pips. Of course, if you scalp M5 in the H1's direction, you'll get much less false entries.

2). You can watch H1 and after a good H1 signal go to M5 (the same TMS template) and wait for the best possible entry. It is not a scalping per say, you just decrease your drawdown. You can aim for 30-35 pips using this method.

Unfortunately, TMS doesn't work for M1. You can watch TMS H1 and then scalp M1 in the same direction using some another system.
Gentlemen always play by the rules. If they can't, they change the rules.
  • #17,178
  • Apr 8, 2013 11:46pm Apr 8, 2013 11:46pm
Quoting Favorite
It depends. 1). You can scalp M5 with this TMS system. The same rules, the same template, the same indicators. Unfortunately M5 gives more false entries than H1, but on the whole you can make pretty good pips. 2). You can watch H1 and after a good H1 signal go to M5 (the same TMS template) and wait for the best possible entry. It is not a scalping per say, you just decrease your drawdown. You can aim for 30-35 pips using this method. Unfortunately, TMS doesn't work for M1. You can watch TMS H1 and then scalp M1 in the same direction using some another...
Thanks heaps for your help and quick replies. I will test and let you know the results.
  • #17,179
  • Apr 8, 2013 11:46pm Apr 8, 2013 11:46pm
Okay, Got short EURUSD on H1 and am watching AUDUSD for a entry here, just need H1 to close with a nice bearish look ;-)
@pawpaw1000 on Twitter
  • #17,180
  • Apr 8, 2013 11:53pm Apr 8, 2013 11:53pm
Quoting pawpaw1000
Okay, Got short EURUSD on H1 and am watching AUDUSD for a entry here, just need H1 to close with a nice bearish look ;-)
I'll keep my fingers crossed for you!

But if I was trading H1, I would trade mostly EURJPY and GBPJPY.
Gentlemen always play by the rules. If they can't, they change the rules.
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