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  • #18,761
  • May 6, 2013 1:15pm May 6, 2013 1:15pm
Hi traders,

I have this position in NZDUSD H4, and it is -20 pip.

I checked all TMS rules and PASR (but I'm newbie in PASR)

What's your thought? Is this position OK or not?

Thanks
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  • #18,762
  • Edited 1:47pm May 6, 2013 1:28pm | Edited 1:47pm
Quoting virgoir
Hi traders, I have this position in NZDUSD H4, and it is -20 pip. I checked all TMS rules and PASR (but I'm newbie in PASR) What's your thought? Is this position OK or not? Thanks {image}
First of all, according TMS rules entry is delayed by one candle,
secoundly you are selling on support resistance.
Then take D1 TF and zoom out the view, can you see rising channell... since Jul 2012 ?, it is not wise to sel close to bottom of the channel
When you need to see bigger picture is good go higher TF to zoom out
My to cents,

your MTF trend indicator is showing only position of Green and Red TDI lines, when is red means Green i lower then Red, but say nothing about posiotion or directions of the lines, also on my H4 chart, switching to candelsticks can see pin bar...
JacekPreserve Precious Capital
  • #18,763
  • May 6, 2013 2:11pm May 6, 2013 2:11pm
Hey guys any advice appreciated

Breakout of 5H range. Today was bank holiday, not much volatility. Should have waited to test recent high made on friday

By the way, how do you guy use atr? its supposed to tell you the average range of pips but everytime i open it it shows me decimal numbers. Should I read it like the price(move decimal places 4 to the right)?

forgot to mark the entrt spots. I entered at 130.17 and got stopped out at 129.98 (2o pips)
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  • #18,764
  • May 6, 2013 2:13pm May 6, 2013 2:13pm
London P/L:-20
New York P/L: 0
Daily total:-20

London P/L:490
New York P/L:-60

Aggregate Trades: 125
Aggregate P/L: 430
  • #18,765
  • May 6, 2013 2:19pm May 6, 2013 2:19pm
Quoting tenmilewalk
Hey guys any advice appreciated Breakout of 5H range. Today was bank holiday, not much volatility. Should have waited to test recent high made on friday By the way, how do you guy use atr? its supposed to tell you the average range of pips but everytime i open it it shows me decimal numbers. Should I read it like the price(move decimal places 4 to the right)? forgot to mark the entrt spots. I entered at 130.17 and got stopped out at 129.98 (2o pips) {image}
You will find in thread attachements ATR PIPS UL corner. This one shows directly in pips... just change periods and multiply to desire number, you will get ready value in pips...
JacekPreserve Precious Capital
  • #18,766
  • May 6, 2013 2:42pm May 6, 2013 2:42pm
Hi,
Today I was testing the TMS System on the EUR/GBP FX market. Unfortunately i lost this trade, but i was following the rules. I think I dinīt understand everything, so I made mistakes. Perhaps you can explain it to me. Thanks a lot for your supportment.

When the green line crossed the red line I waited for the #2 candle and longed the market. Then the trade colapsed and I lost some virtual money. But why happened this today ?

Regards,
FX94
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  • #18,767
  • May 6, 2013 2:51pm May 6, 2013 2:51pm
Quoting Fx94
Hi, Today I was testing the TMS System on the EUR/GBP FX market. Unfortunately i lost this trade, but i was following the rules. I think I dinīt understand everything, so I made mistakes. Perhaps you can explain it to me. Thanks a lot for your supportment. When the green line crossed the red line I waited for the #2 candle and longed the market. Then the trade colapsed and I lost some virtual money. But why happened this today ? Regards, FX94 {image}
you took long exactly when that bull candle hit resistance from the previous day (look left)
the pair has been in bearish market for 3 week now. so percentage of successful long is lower
Daniel
  • #18,768
  • May 6, 2013 3:12pm May 6, 2013 3:12pm
You might look at my post 18,758. The daily was bearish and you tried to go long. Swith your chart to a Daily and look at the color of the canldes and then trade in the direction of those upper time frame candles.


Quoting Fx94
Hi, Today I was testing the TMS System on the EUR/GBP FX market. Unfortunately i lost this trade, but i was following the rules. I think I dinīt understand everything, so I made mistakes. Perhaps you can explain it to me. Thanks a lot for your supportment. When the green line crossed the red line I waited for the #2 candle and longed the market. Then the trade colapsed and I lost some virtual money. But why happened this today ? Regards, FX94 {image}
Without vision, the people will perish.
  • #18,769
  • May 6, 2013 3:16pm May 6, 2013 3:16pm
Thanks a lot for the fast answer. For the future I have to learn more about support and resistance lines.
So I have to observe the market in the whole context.
So do I understand right ?

--> When the green line crosses the red one its a signal to go long/short with using technical analysis like S/R lines ?

Regards,
FX94
  • #18,770
  • May 6, 2013 3:45pm May 6, 2013 3:45pm
@bythepound:

I read your post and understood it mostly. But can you explain to me where i can get your second indicator (not the TDI one) ? What is the "APB".
The NFP means Nonfarm payrolls ?

Regards,
FX94
  • #18,771
  • May 6, 2013 4:24pm May 6, 2013 4:24pm
Trade updates:

Only GBPUSD still open

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GBPAUD - 1%... Rest out at BE

NZDUSD- Out at BE.. Missed 2% tp by less than a pip. Moved sl to BE during night.. Thought there was enough room to support for R1.

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AUDUSD - Closed all positions just over 2% as I was off to bed.

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  • #18,772
  • May 6, 2013 4:55pm May 6, 2013 4:55pm
Fx94,

I really mean the color of the candle sticks. The bottom indicator is called the trix and it is not supported in this forum and I won't discuss its use in honor of the TMS rules. You can view the THV method forum for that. BUT, it is not needed for true TMS rules. Back test - look at the color of the Daily candles. If they are red, look for TMS setups to go short on the 1 HR. If you trade a 4 HR, look at the weekly.

Hope that helps

Quoting Fx94
@bythepound: I read your post and understood it mostly. But can you explain to me where i can get your second indicator (not the TDI one) ? What is the "APB". The NFP means Nonfarm payrolls ? Regards, FX94
Without vision, the people will perish.
  • #18,773
  • May 6, 2013 5:22pm May 6, 2013 5:22pm
Quoting Fx94
@bythepound: I read your post and understood it mostly. But can you explain to me where i can get your second indicator (not the TDI one) ? What is the "APB". The NFP means Nonfarm payrolls ? Regards, FX94

You need to learn everything thing you can about the TDI indicator if you are going to succeed with this method, check out this educational materilas

http://www.compassfx.com/video/flash/61608/61608.html

http://www.compassfx.com/video/#Synergy

PS - APB = Average Price Bars

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It takes a lot for me to IGNORE you, but you can try.
  • #18,774
  • May 6, 2013 5:40pm May 6, 2013 5:40pm
Quoting dcginc
Jackub {quote} Traders . . . a suggestion. I would only label key S/R levels relevant to current price action - in a range of about 300-400 pips at most either side of current price starting with the Daily chart. Labeling S/R 500-1500 pips away from current price action has no relevance unless you are position trading the Daily, Weekly or Monthly charts. If you are an intraday trader, look at the ADR and ATR of the Daily charts and start there as a reference for potential ranges along with your S/R levels. Do this every day as part...
Folks,

This is an excellent pointers made by dcginc.
Pay attention to these especially when you are intraday day trading on H1.
You will learn plenty more from him at his website.(http://www.protradenetwork.com/)

Know the day range and weekly range of those currency pairs you trade in. Keep your TP expectations within those traded ranges.

I have my S&R based Monthly becasue I do take longer term positions in additions to 4H swing trading. But I some tricks how to keep those line hidden and my chart clean.

Trade Well.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #18,775
  • May 6, 2013 5:42pm May 6, 2013 5:42pm
Quoting Erebus
{quote} You need to learn everything thing you can about the TDI indicator if you are going to succeed with this method, check out this educational materilas http://www.compassfx.com/video/flash/61608/61608.html http://www.compassfx.com/video/#Synergy PS - APB = Average Price Bars {image}

Thanks Erebus for helping out our newbies and traders here....

very much appreciated by all I am sure.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #18,776
  • Edited 6:29pm May 6, 2013 6:06pm | Edited 6:29pm
Quoting irishtoffy
This is how my Big Picture for AUDUSD looks in 4hour..looks like a lot more S/R levels than Emmanuels example. Is this ok? {image}
http://www.forexfactory.com/attachme...1&d=1367850142
irishtoffy.

Obviously from your chart posted, you did more than necessary for AUDUSD.

Take a look at each chart TF:

On MN chart, AU recovered from the 2008 financial crisis very strongly with a 'V' shape reversal in 2009, and it is is now trading above the 2008 High and above parity. If you look out for those MN swing points of the MN Lince Chart, there isn't that many horizontal lines.

On the W1 chart, zoom out and you will see the market type we talked about last week. The market type is narrow range consolidation since mid-2012, ... trading within 1.063 and 1.011.
When you look closely at the 2013 weekly close prices, they are relatively very close range and hence you only pick those significant swing pionts and breakout preice levels.

Now down to the H4 and D, I only use the Prev W Fib and the Prev W OHLC for use as S&R when trading 4H.

In all, there should not be too many horizontal lines. When i see more than 10 of such lines, I will do cleaning up and mark the zones instead of using lines.

What is more important is to look for CONFLUENCE of historical S&R with current OHLC, Prev W Fib, BRN, RN, etc. these are the high probablity areas for to look for PA i.e. reaction of price movements and look for out setups.

Trade Well.

Edit: the next support is 1.02 ...watchout SELLER! yesterday Beasr were feeding at the Prev W Fib 50% and then it bounce off the lows of week 17 and 18. ... y next target is 1.017, why?
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #18,777
  • May 6, 2013 6:22pm May 6, 2013 6:22pm
AU week 19 - Tuesday 7 May view :

Here is my chart view updated.

Careful today is key news, ... RBA rate 3% still the same, it can get lower but not this month.
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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #18,778
  • May 6, 2013 6:40pm May 6, 2013 6:40pm
Quoting irishtoffy
{quote} Hi, What is it you mean by clusters of wicks/shadows? How do you define that? And by mark them, do you mean draw a circle around them?

irishtoffy,

here is an example:
I drew the ellipse (oval/ circles) and arrows for illustrations only. You must see those with your eyes on your charts.
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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #18,779
  • May 6, 2013 6:52pm May 6, 2013 6:52pm
Quoting mukeshk
Emmanuel, Thanks for your prompt reply. I will go through the first 50 pages as recommeded by you and set up my MT4 as per the templates provided. Do you have any other recommendations for a newbie like me. Thanks once again. Mukeshk
Mukeshk,

Yes, I do have few recommendations, just these on top of my mind right now:

1) Don't do it the hard way like the way I did for 25 years. Learn from others and have a structure to follow to develop and train yourself to become a super trader.

2) Have a passion for what you do. When you love what you do, you don't work another day.

3) When you want to be a successful trader, be one who is socially responsible for those less fortunate ones in the communty near you. Trade with Mission to help the poor and less fortunate.

Stick around and learn, this will help shorten your learning curve.

By the way, I don't know your level of knowledge and experience. It would help me , if you tell me which level of babypips school your are at or completed.

http://www.babypips.com/


Regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #18,780
  • Edited 7:47pm May 6, 2013 6:58pm | Edited 7:47pm
Quoting bythepound
Traders - PLEASE do yourself a favor and take emmanuel's advice on this. It totally changed my trading. I only trade the 4HR using the Weekly APB as a trend indicator. For example, once I see a bearish candle close and the 2nd candle also opens bearish, I will only look for shorts on my 4 hour chart. This also works well if you are trading a 1 HR using the Daily chart as the trend indicator. I don't use S&R as much because of the subjectivity, unless it is an obvious S&L level. This is just one of the 4HR trades I took last week - I longed the NZD/JPY...
http://www.forexfactory.com/attachme...1&d=1367852809

Thanks bythepound.

This is what I meant by picking those A+++ trade setups and "Let Profit Run'.

All you need is 5 good trades every 20 trading days. I am not talking about 5 trades a month.

Trade Well folks.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
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