Disliked3 trades today,1 AU trade and 1 EJ trade in the Asian session. 1 more AU trade at LO. Any advice is appreciated because I'm still have a long way to go and I need a lot of them. The first AU trade was after the unemployment rate was announced. I saw price broke above yesterday high and and good momentum in the market and green bounced off red ( not a great bounce if you ask me) so I took a trade. TP at the previous high of the Asian session and it could have been hit if I could managed the trade more closely because I had something to take care...Ignored
- #21,662
- Jul 11, 2013 9:44am Jul 11, 2013 9:44am
- Joined Nov 2008 | Status: Trader | 50,234 Posts
{quote} Always a caring and enthusiasm about helping others,I wish that I could vouch so I can give you like 100 vouch maybe. Anyway,thank you again for your explanation. Maybe different H4 candle is some thing we have to deal it. One more little question,do you use the PAC only for scalping or for swing trade too? Looking forward to your analysis for H4 trading setup in the future
.
anyway don't let the different H4 bother our trading too much. I see many trades done by traders and the difference in entries is between 5 to 10 pips. Sometimes those using GMT+3 get an earlier entry than me, other times I get earlier entry ... so on. What is more important is PA for entry and knowing where to place initial SL and when to get out is far more important than seeing smae candle patterns.
PAC work very well in lower TF M15 and M5 for entry and exits seeing the small waves of price movements within the H1 and H4 period.
In higher TF , I use that to see the volatility of the period. The further price is from the PAC the better, until market goes into consolidation.
we can also trail our stops along the opposite side of the PAC.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #21,663
- Jul 11, 2013 9:46am Jul 11, 2013 9:46am
- Joined Nov 2008 | Status: Trader | 50,234 Posts
{quote} Thanks Emmanuel...I gotta go to do some house jobs after that storm.My wife took the baby today and she told me if all the jobs are not done by the time she is back ,she will break my computer. Since I am a very brave man I am going to finish all the jobs before she come back!!
time for me to go back to bed...now.
Goodnite folks!
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #21,664
- Jul 11, 2013 10:11am Jul 11, 2013 10:11am
{quote} Top notch frenetic. I took two of these trades myself. Glad to see we're on the same page
Good job too tenmilewalk,I'm still have a lot to learn though. Hope that all the trader here could get "there" someday (by someday I mean the nearest future possible
).
- #21,665
- Jul 11, 2013 10:20am Jul 11, 2013 10:20am
hi Hins, how are you???? I'm starting use TDI real time in h1 charts. I use 5 eMA, +3, typical price. Is the correct setting for h1 charts or not? good trading!! francesco
All things are just fine
summer, vacation time...I personally know nothing about TDI real-time indicator as I'm using the "classic" TDI Red Green which updates on bar close. To my understanding and experience with TMS this should not be the most important part of the TMS method as long as you will be trading 1H timeframe (i'm also trading 1H and 4H). I never take decision in the middle of a bar (i.e. not closed bar does not mean anything, you can see many examples when current bar showing you one thing and at the end of the hour close just opposite to what we expect).
As for the 5EMA-s I use 5EMA "MA method: smoothed", "Apply to: hi/low", Shift 2...Shift "0" should also be fine, I have no opinion here
maybe Emmanuel could explain more about it or you can put two of them to the same chart and see the difference.Please post your charts when you open a trade. I hope you will demo trade TMS, I am demoing myself.
Good luck
Hins
- #21,666
- Jul 11, 2013 11:03am Jul 11, 2013 11:03am
Hi guys, greetings from Poland! I've started trading TDI about 5 months ago (2 month demo / 3 month live), and I have to say it's gorgeous! I have been learning forex for 3 years, trying to figure out how to be smarter than the market - answer was so close, but it needed some time to wait for me. To be profitable trader just FOLLOW THE RULES from the beginning of this thread. It's so simple that we could think there must be something else. Couldn't be more wrong 
Keep pipsing!!!
I've started trading TDI about 5 months ago (2 month demo / 3 month live), and I have to say it's gorgeous! I have been learning forex for 3 years, trying to figure out how to be smarter than the market - answer was so close, but it needed some time to wait for me. To be profitable trader just FOLLOW THE RULES from the beginning of this thread. It's so simple that we could think there must be something else. Couldn't be more wrong Keep pipsing!!!
- #21,667
- Jul 11, 2013 1:18pm Jul 11, 2013 1:18pm
Hi Hins,
thank you very much!!!! I'm using TDI real time and it works very well. I used it immediatly in my real account, not in demo, because I'm sure about it!!!!
3 trades 3 profit!!!!!!!
Like you I think the setting of 5 ema are not so important, the main think is only the powerfull TDI!!!!
Next time i'll post my charts when i'll open new trades....
good trading to you!!
francesco
thank you very much!!!! I'm using TDI real time and it works very well. I used it immediatly in my real account, not in demo, because I'm sure about it!!!!
3 trades 3 profit!!!!!!!
Like you I think the setting of 5 ema are not so important, the main think is only the powerfull TDI!!!!
Next time i'll post my charts when i'll open new trades....
good trading to you!!
francesco
- #21,668
- Jul 11, 2013 5:49pm Jul 11, 2013 5:49pm
- Joined Nov 2008 | Status: Trader | 50,234 Posts
{quote} Hi Francesco, All things are just fine
PAC is 5SMMA channel high-low, it is conservative entry when we wait for PA to move outside the the PAC. But this help us to look for and wait for increase in market volatility using the most recent 5-periods and we enter when there is increase volatility and seeing price momentum and market strength.
Stick to the use of 5EMA(close, shift+3) if you are already consistent profitable.
If you are still struggling to get market entry, then try using the PAC in the timframe you trade.
Scalping in lower TF M5/M15 using the PAC is a good method when we use mult-timeframe analysis and rely on the higher TF PA.
Hope this explains. If not, then please post you questions and better still use a chart so that I can response using charts to explain. This is a better way to learn.
regards,
EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #21,669
- Jul 11, 2013 5:56pm Jul 11, 2013 5:56pm
- Joined Nov 2008 | Status: Trader | 50,234 Posts
Hi guys, greetings from Poland!
Hello fx_mike,
First post, ... WELCOME!
Good to hear that you found TMS and the TDI works for your trading.
The basic rules are there in this thread but with market trading experience, traders will find his/her own way and adapt those rules to suit their own personal style.
Why TMS did not work for some members here is they do not understand the personal trading style of our OP eelfranz and try to follow his rules strictly and want to trade the way he did.
More green pips to you.
regards,
EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #21,670
- Jul 11, 2013 5:59pm Jul 11, 2013 5:59pm
- Joined Nov 2008 | Status: Trader | 50,234 Posts
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #21,672
- Jul 11, 2013 6:41pm Jul 11, 2013 6:41pm
- Joined Apr 2007 | Status: Trader | 1,021 Posts
Failure, is a wonderful teacher!
- #21,676
- Jul 11, 2013 8:20pm Jul 11, 2013 8:20pm
- Joined Nov 2008 | Status: Trader | 50,234 Posts
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett