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  • #21,141
  • Jun 26, 2013 7:10pm Jun 26, 2013 7:10pm
Any advice appreciated

Entered short on eur.jpy LO when low was broken. SL on that trade
Attempted entry again at break of monthly low. Worked this time
Attached Image (click to enlarge)
Click to Enlarge Name: jun 26 eur.jpy.h1 trade.png Size: 54 KB


aud.usd trade on a breakout and LO. BE
Seem to have missed a trade in the morning as well. Perfect pullback candle formed at daily high, along with retrace from 200 ema.
Attached Image (click to enlarge)
Click to Enlarge Name: jun 26 aud.usd.h1 trade.png Size: 54 KB
  • #21,142
  • Jun 26, 2013 7:12pm Jun 26, 2013 7:12pm
UJ 27 Jun TOK update:

There is recent S&R which came into play this week ... 97.30 and 97.10 and the BRN 97.00 right below supported well so far.
D TDI is looking to the downside.
H4 is choppy and narrowing range sideway consolidation. There is a nice head and shoulder pattern. My bias is to the downside.
Attached Image (click to enlarge)
Click to Enlarge Name: UJ week 26 update 27 Jun TOK 27-6-2013 8-03-17 AM.png Size: 40 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #21,143
  • Jun 26, 2013 7:21pm Jun 26, 2013 7:21pm
UJ week 26 H4 update :

remember the major trend is still UP with Abenomics.
we are seeing weekly corrections.
Attached Image (click to enlarge)
Click to Enlarge Name: UJ week 26 H4 view update 27 Jun 27-6-2013 8-13-07 AM.png Size: 52 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #21,144
  • Jun 26, 2013 7:25pm Jun 26, 2013 7:25pm
Quoting tenmilewalk
Any advice appreciated Entered short on eur.jpy LO when low was broken. SL on that trade Attempted entry again at break of monthly low. Worked this time{image} aud.usd trade on a breakout and LO. BE Seem to have missed a trade in the morning as well. Perfect pullback candle formed at daily high, along with retrace from 200 ema. {image}

previous month low was tested on monday and tuesday as support... correct?
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #21,145
  • Jun 26, 2013 8:05pm Jun 26, 2013 8:05pm
Quoting emmanuel7788
{quote} It is optional to use Stochastics. Recommended for new traders on TMS. But once we learn and gain more experience in Price Action trading, discard that. It is to confirm Price Action not the TDI. Both indicators work independent of each other and calculates based on the real price on your chart. {image}
Thank you,I am chinese,english is not good,simple know little.
I learn TMS for one month,immediate turn to real account, make some lost.
  • #21,146
  • Jun 26, 2013 8:15pm Jun 26, 2013 8:15pm
Kiwi dollar:

The weekly trend has been down ...still is.
But this week it held on well despite a slightly stronger USD.
Commodities traded heavily this week, this may have account for the kiwi holding on well. Same for AU and UCad.
But we are in the last week of this month and H4 is looking to close in consolidation.
Next month / week will bring good 4H swing trades.
Attached Image (click to enlarge)
Click to Enlarge Name: NU week 26 update 27 Jun 27-6-2013 9-04-50 AM.png Size: 62 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #21,147
  • Jun 26, 2013 9:12pm Jun 26, 2013 9:12pm
Quoting emmanuel7788
{quote} Hi rickylimsc, WELCOME! I agree with you that we should not add any other indicators to TMS. The main indicators we use are - the TDi and the APB or Heiken Ashi HA. But I think any trading savvy person is free add and adopt anything he/she wants provided there are proven results. I think the Entry and Exits rules of Big E is more suited to his personal style, especially his exits rules using the TDI is rather safe. The Entry rule using TDI cross is simple but aslo requires some discretion using PA and Supp/Res. This is the difficult part...

Thanks Emmanuel.

What I meant is, try not to complicate this discussion with other indicators as this is also what the original owner (Big E) wanted to see on this thread.

I just managed to get my NinjaTrader to work with the TDI haha.

I just cannot help as planting a trade on MetaTrader 4 is so difficult, or rather not used to the interface.
Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 118 KB
  • #21,148
  • Jun 26, 2013 9:15pm Jun 26, 2013 9:15pm
Quoting zchgold
{quote} Thank you,I am chinese,english is not good,simple know little. I learn TMS for one month,immediate turn to real account, make some lost.
Hi zchgold,

No problem with use of simple English words. What is more important is what we see on our charts. Chart is our common laguage and with some English words written down on what we see and our thinking, I can figure out what I see on charts much easier.

Since you are new to trading and trading TMS, I recommend that you use Stoch (8,3,3) as what Big E also mentioned.
4H trading would be good to start with and we follow TMS Entry and Exits rules for a start. Then with more experience, you can then adapt with more ideas on market entry and exits, and all other stuff. To leanr 4H trading on demo, you can consdier trading more pairs, like all the EUR and GBP pairs for practice. There are no so many 4H trade setups weekly, so when you demo on more apris, it will give you more trade opportunities for practicing. plesae, not live trading with so many pairs until you have the experience from practice, practice, practice.

If you trade intraday using H1, it is more difficult and you have to learn how to trade with Price Action and the use of Support and Resistance. This is where many inexperienced traders make losses.
I have a different approach to intraday trading using TMS as the core method, but will not want to complicate TMS discussions here.

Post you charts and ask any questions you think of.

I love ancient Chinese wisdom, this one below means a lot to me when I learn to trade.

I hear and I forget.

I see and I remember.

I do and I understand.

- Confucius (551 BC - 479 BC)


Good Trading journey!

regards,
EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #21,149
  • Jun 26, 2013 9:31pm Jun 26, 2013 9:31pm
Thanks for sharing this good Tms ------ by the way it is great with a day time frame too.
Regards
  • #21,150
  • Jun 26, 2013 10:29pm Jun 26, 2013 10:29pm
Quoting tenmilewalk
Any advice appreciated Entered short on eur.jpy LO when low was broken. SL on that trade Attempted entry again at break of monthly low. Worked this time{image} aud.usd trade on a breakout and LO. BE Seem to have missed a trade in the morning as well. Perfect pullback candle formed at daily high, along with retrace from 200 ema. {image}
I think the looser trade was entered almost at a support zone, even though price action snapped into the zone and below previous last 2 days low don't mean that the support was broken

I entered the same EUR/JPY as yours but 2 hours earlier , and exit for +31 pips almost where you entered short because this is where next support zone is, after reaching this zone your entry was made and price action draw down back inside the zone , retest it , obviously hit your stop loss and continue down

Notes on my chart
Thank You
Attached Image (click to enlarge)
Click to Enlarge Name: 6-27-201_Hanging Man.jpg Size: 250 KB
I Have Learned to Take Some Losses to Make Profits
  • #21,151
  • Jun 27, 2013 12:09am Jun 27, 2013 12:09am
Quoting TheScorpS
{quote} I think the looser trade was entered almost at a support zone, even though price action snapped into the zone and below previous last 2 days low don't mean that the support was broken I entered the same EUR/JPY as yours but 2 hours earlier , and exit for +31 pips almost where you entered short because this is where next support zone is, after reaching this zone your entry was made and price action draw down back inside the zone , retest it , obviously hit your stop loss and continue down Notes on my chart Thank You {image}
http://www.forexfactory.com/attachment.php?attachmentid=1222125&stc=1&thumb=1&d=1372303691

Very good chart. You are fully naked trader. I Like
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #21,152
  • Jun 27, 2013 12:14am Jun 27, 2013 12:14am
Quoting abuziyad
Thanks for sharing this good Tms ------ by the way it is great with a day time frame too. Regards
hi abuziyad,

Yes, day chart trading works very well. We can trade monthly positions with D chart.
Conservative and safe way to trade using the Price Action Channel and learn to surf along the PAC.
You will find enough trades per month with a 2% risk per trade and build up positions gradually. You will find a 2% risk per trade results into 5-6 % returns per month/avarage 20 trading days, when you develop the skills to build up positions.
Attached Image (click to enlarge)
Click to Enlarge Name: Day chart trading TMS .png Size: 68 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #21,153
  • Jun 27, 2013 12:24am Jun 27, 2013 12:24am
Quoting TheScorpS
{quote} I think the looser trade was entered almost at a support zone, even though price action snapped into the zone and below previous last 2 days low don't mean that the support was broken I entered the same EUR/JPY as yours but 2 hours earlier , and exit for +31 pips almost where you entered short because this is where next support zone is, after reaching this zone your entry was made and price action draw down back inside the zone , retest it , obviously hit your stop loss and continue down Notes on my chart Thank You {image}
hello scorp s, did the tdi have any consideration into your entry?
  • #21,154
  • Jun 27, 2013 12:39am Jun 27, 2013 12:39am
Quoting emmanuel7788
{quote} Hi zchgold, No problem with use of simple English words. What is more important is what we see on our charts. Chart is our common laguage and with some English words written down on what we see and our thinking, I can figure out what I see on charts much easier. Since you are new to trading and trading TMS, I recommend that you use Stoch (8,3,3) as what Big E also mentioned. 4H trading would be good to start with and we follow TMS Entry and Exits rules for a start. Then with more experience, you can then adapt with more ideas on market entry...

hi emmanuel7788,

i am newbie here and had been learning and using the tms in demo account. I am currently using 4hrs and 1 hrs for trading. however, i am trying to figured out and understand into smaller timeframe like 30min and 15 min using tms and relate to hrs timeframe. meantime, i am also trying to understand the price action too but for support and resistance , i am only drawn line using the previous data in chart base on my own discretion. is there any standard rules that i need to know for support and resistance. do i need to know about the pivot point too.

thanks and regards
wnnchong
  • #21,155
  • Jun 27, 2013 12:43am Jun 27, 2013 12:43am
iGU TOK_5H.

Market pulling back from BRN 1.5300 also historical S&R.

today key data out of the UK, final Q GDP forecast not any better than the last one, by now hours before offical date is out, the big boys knows the true data to be publish well before we poor retail traders.


What can I do except to rely on my charts and these is what I see on H4/H1.

Looking at 1.5360, historical S&R, Prev W low, Prev D fib 50% and RN 1.5350.... if that is resistance for more selling.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #21,156
  • Jun 27, 2013 12:51am Jun 27, 2013 12:51am
Hi emmanuel7788,
There are many indicators of support and resistance, I do not know what to use that.
to your experience, can you tell me which support and resistance indicators suitable for H1 and H4.
  • #21,157
  • Jun 27, 2013 1:40am Jun 27, 2013 1:40am
Quoting wnnchong4870
{quote} hi emmanuel7788, i am newbie here and had been learning and using the tms in demo account. I am currently using 4hrs and 1 hrs for trading. however, i am trying to figured out and understand into smaller timeframe like 30min and 15 min using tms and relate to hrs timeframe. meantime, i am also trying to understand the price action too but for support and resistance , i am only drawn line using the previous data in chart base on my own discretion. is there any standard rules that i need to know for support and resistance. do i need to know...
Support and Resistance:

I learn about support and resistance at babypips school of pipsology.
there is no standard rules to do this. The only rule if to be consistent in what we do.
I draw historical support and reistance using the line chart method explained in babypips.

babypips school of pipsology ... click on this link.

You will also learn about pivot points there too.

What we want to see is how price reacts around these support and resistance , and pivots levels. .... and not how accurate they are.

important to know them and use them consistently .
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #21,158
  • Jun 27, 2013 1:55am Jun 27, 2013 1:55am
Quoting zchgold
Hi emmanuel7788, There are many indicators of support and resistance, I do not know what to use that. to your experience, can you tell me which support and resistance indicators suitable for H1 and H4.

Hi zchgold,

For H1 and H4 , I use these:

Prev Day Fib

Prev Week Fib

Use these together with historical support and resistance which you need to learn to draw on your charts. The OHLC Open High Low Close prices of the previous Day, Previous Week, Prveious Month are use as natural support and reistance. Also with the Round Number RNand big Round Number BRN of the prices.

Support and Resistance is not one price level, it is a region or zone. We just look at how the market react around these support and resistance zones.

regards,
EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #21,159
  • Jun 27, 2013 2:03am Jun 27, 2013 2:03am
Quoting emmanuel7788
UJ week 26 H4 update : remember the major trend is still UP with Abenomics. we are seeing weekly corrections. {image}
http://www.forexfactory.com/attachment.php?attachmentid=1222052&stc=1&thumb=1&d=1372292363

Now LO, see UJ what happens in another hour.
Attached Image (click to enlarge)
Click to Enlarge Name: UJ 27 Jun pre-LO 27-6-2013 2-59-03 PM.png Size: 54 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #21,160
  • Jun 27, 2013 2:12am Jun 27, 2013 2:12am
AUD;

will aussie regain strength with Keivin Rudd return to be PM?
Too early to tell. still
Buit I am sad that my favourite lady PM Julian Gillard resign and quit poilitics.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
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