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Trading Made Simple

  • #19,221
  • May 14, 2013 11:58pm May 14, 2013 11:58pm
Quoting irishtoffy
Hi, Is this a valid entry on TMS on close of the first red candle? {image}
Looks like you are going to make MY mistake... check please H4 AND D1 FOR TREND DIRECTION, is it still nice entry??
JacekPreserve Precious Capital
  • #19,222
  • May 14, 2013 11:59pm May 14, 2013 11:59pm
This looks like a more valid entry to me?

I just lost 40 pips on GY..went long last night at 155.968 on the 4H chart. with SL 155.330..i cancelled it manually as it seems to be on a slight retracement?
Attached Image (click to enlarge)
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  • #19,223
  • May 15, 2013 12:05am May 15, 2013 12:05am
Quoting irishtoffy
Hi, Is this a valid entry on TMS on close of the first red candle? {image}
http://www.forexfactory.com/attachme...1&d=1368593432


if you want to do entry on candle#1, you must see a A+++ PASR setup .

Only PASR will support you with an entry in candle#1 before TDi cross.

I don't see your S&R on your chart and written post and also what PA is there?
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #19,224
  • May 15, 2013 12:08am May 15, 2013 12:08am
Quoting irishtoffy
This looks like a more valid entry to me? I just lost 40 pips on GY..went long last night at 155.968 on the 4H chart. with SL 155.330..i cancelled it manually as it seems to be on a slight retracement? {image}
http://www.forexfactory.com/attachme...1&d=1368593849

wrong chart !
I read your trade GJ, right?
your chart is EG.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #19,225
  • May 15, 2013 12:27am May 15, 2013 12:27am
[quote=emmanuel7788;
When there is fear / chaos in the market / economy, which is the safe haven curreny pair to turn to? {image}[/QUOTE]

Swisse, gold, what can be safe haven?? do we have such pair at all??
JacekPreserve Precious Capital
  • #19,226
  • May 15, 2013 12:39am May 15, 2013 12:39am
Quoting Jackub
{quote} Swisse, gold, what can be safe haven?? do we have such pair at all??

the USD is still the top reserve currency on the list...
most if not all of foreign reserves of big economies hold their reserves in USD.

it is the safe haven currency pair whenever there is uncertainty ahead...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #19,227
  • May 15, 2013 12:43am May 15, 2013 12:43am
Quoting emmanuel7788
{quote} the USD is still the top reserve currency on the list... most if not all of foreign reserves of big economies hold their reserves in USD. it is the safe haven currency pair whenever there is uncertainty ahead...
never stop learning from you!
JacekPreserve Precious Capital
  • #19,228
  • May 15, 2013 1:20am May 15, 2013 1:20am
Quoting emmanuel7788
{quote} {image} wrong chart ! I read your trade GJ, right? your chart is EG.

My description of the GJ trade does not relate to the chart posted today, just an explanation that I had a 40 pip losing trade last night..sorry for the confusion!

Sorry the chart is of a trade I have not yet taken..I am considering shorting the EG, and just posted to show what I see. I posted the new 4H chart EG below with my SR lines, my idea would be to short below 0.8473 with TP of 0.8417. Would like a second opinion after my poor decision last night!
Attached Image (click to enlarge)
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  • #19,229
  • May 15, 2013 1:23am May 15, 2013 1:23am
Quoting emmanuel7788
{quote} {image} Prominent88, First thing you need to do is get rid of the 2 Stochastics on your chart above. For newbies, you can use Stoch (8,3,3) as a confirmation tool. Now you tell me these: 1) what are your trading rules, name any 5 rules you gave yourself. 2) List down 5 entry rules for TMS 4H trading. 3) List down 5 exit rules for TMS 4H trading. Do the above first, then you will see very clearly if that trade is a A+++ trade setup. Regards EMMANUEL...
Hi Emmanuel7788,

Ok, I will get rid of the 2 stochastics on my chat.

Question 1:
a. Enter a trade with valid entry
b. Exit a trade when see a exit signal
c. Set SL for money management
d. See S/R level when trade
e. See the Trend of the currency

Question 2:
a. When green cross red
b. When green bounces back instead of cross red line

Question 3:
a. When TDI line go flat
b. When TDI line hook back
c. When TDI line do a check mark reversal

Appreciate for your advice.
Prominent88
  • #19,230
  • May 15, 2013 1:26am May 15, 2013 1:26am
Quoting emmanuel7788
{quote} {image} if you want to do entry on candle#1, you must see a A+++ PASR setup . Only PASR will support you with an entry in candle#1 before TDi cross. I don't see your S&R on your chart and written post and also what PA is there?
Hi Emmanuel!

I checked it again and all latest weekly/daily price bar are a nice blue colour!

I attached my chart with SR levels..
Attached Image (click to enlarge)
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  • #19,231
  • May 15, 2013 1:28am May 15, 2013 1:28am
Hi Emmanuel7788,

This is my chart after I use the stoch (8,3,3).

Is it this is the correct chart?
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpyh4 - 150513, 2.30pm.png Size: 36 KB
  • #19,232
  • May 15, 2013 1:31am May 15, 2013 1:31am
Quoting emmanuel7788
{quote} {image} wrong chart ! I read your trade GJ, right? your chart is EG.
I have to take advantage of this to ask you Emmanuel..the D chart below shows a nice downtrend right? But what is the W chart showing?

And the 1H chart shows the beginning of a downtrend. Am I interpreting these charts correctly? Would a short trade be too risky here due to conflicting trends different TF?

Thanks!
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurgbpweekly.png Size: 33 KB
Click to Enlarge Name: eurgbph1.png Size: 35 KB
  • #19,233
  • May 15, 2013 1:44am May 15, 2013 1:44am
Quoting irishtoffy
{quote} I have to take advantage of this to ask you Emmanuel..the D chart below shows a nice downtrend right? But what is the W chart showing? And the 1H chart shows the beginning of a downtrend. Am I interpreting these charts correctly? Would a short trade be too risky here due to conflicting trends different TF? Thanks! {image} {image}
I could only upload 2 charts maximum to the post before. Paul
Attached Image (click to enlarge)
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  • #19,234
  • May 15, 2013 1:51am May 15, 2013 1:51am
This is my only trade from yesterday: total gain 2%. Entry conditions explained in previous posts.
Attached Image (click to enlarge)
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  • #19,235
  • May 15, 2013 1:55am May 15, 2013 1:55am
Quoting emmanuel7788
TMS success and failure: Just catching up reading the previous days posts. It did not surprise me as there are some traders who learned to trade TMS successfully. Yet there are some who traded TMS and say it does not work for them. There are bountiful of reasons and many experienced traders here in Forex Factory can easily point them out to you. For those who still have yet to make TMS into your own trading system, it is time for you to ask yourself this question: What have I not done to make TMS in my own trading system? TMS method shared here...
I trade only one system: TMS ... and will continue posting here.
  • #19,236
  • May 15, 2013 1:57am May 15, 2013 1:57am
Quoting irishtoffy
{quote} I have to take advantage of this to ask you Emmanuel..the D chart below shows a nice downtrend right? But what is the W chart showing? And the 1H chart shows the beginning of a downtrend. Am I interpreting these charts correctly? Would a short trade be too risky here due to conflicting trends different TF? Thanks! {image} {image}
EG

W - consolidation after the last rally
D - bias is up
H4 - rising channel
H1 - sideway after Monday push up.

you have S&R .8480 .. that is important.
this week PA pullback from RN .8500 and also Prev W Fib 127%

Now, to be buyer, I wait to buy at the next HL.

all it needs now if for some stimulus (like some major event in the UK or EZ) to make that POP!
Attached Image (click to enlarge)
Click to Enlarge Name: EURGBP week 20 15 May 15-5-2013 2-45-00 AM.png Size: 63 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #19,237
  • May 15, 2013 2:03am May 15, 2013 2:03am
Took short on EU 1h chart
reasoning: price broke the earlier day range
Attached Image (click to enlarge)
Click to Enlarge Name: eu 15-5-2013.gif Size: 52 KB
Daniel
  • #19,238
  • May 15, 2013 2:05am May 15, 2013 2:05am
Quoting cristiansan
{quote} I trade only one system: TMS ... and will continue posting here.

Yes, with just one method like TMS, you can create several systems out of it.

1) you can scalp using M15
2) you can do intraday using H1
3) you can do short term swing using H4
4) you can do position trading using W and D.

All one need is to learn these required skills to read charts and see these -

PriceAction
Trend
Multi-Time Frame
Momentum
Support andResistance
Continuation
Volatility
Market Strength
Range
Timing

All these above is only the tip of the iceberg....10% of what is needed to be successful in trading TMS.

THE WORK - what is this?

Until you done and completed THE WORK, you will not make that transformation which will take you forwards and achieve Financial Freedom.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #19,239
  • May 15, 2013 2:15am May 15, 2013 2:15am
Quoting cristiansan
This is my only trade from yesterday: total gain 2%. Entry conditions explained in previous posts. {image}
http://www.forexfactory.com/attachme...1&d=1368600644

this is a classic PA type of trade ... H4 inside bar trading done in H1 timeframe

I don't just Like this. I LOVE THIS!
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #19,240
  • May 15, 2013 2:34am May 15, 2013 2:34am
quiet today

eur.jpy strong support at 131.55
43 traders viewing now, 1 is registered:
Pathekiwi