Disliked{quote} Phx62 posted H1 trades charts look fantastic in hindsight. But until you find the 'secret' behind those trade charts nobody will make it to trade H1 in that same way. Sorry that I sound negative but that's the reality which many do not see. We trade M15 with 20pips SL and multi-level TPs with 20pips grid. The RR can be explosive and we don't use leverage of 1:200 or 1:2000 like what I read in a post here and not with $1000 account and definitely not to grow 300% in one month. Bluntly put, we are not gamblers with our hard earned money.Ignored
- #25,942
- Oct 8, 2013 4:20am Oct 8, 2013 4:20am
- Joined Oct 2012 | Status: Trader | 1,813 Posts
{quote} I disagree about phx's charts looking good in hindsight, all charts look good in hindsight. I've forward tested the H1 for months and although our s/r levels differ (I like to use trendlines) funnily enough our trades are very close. There is no "secret" to them. He uses his s/r levels, then looks for price action around those points, either where he thinks price will turn, or for a continuation of the trend - no secret to it.
Oh and hi there lastingwell, nice to see you here
- #25,943
- Oct 8, 2013 4:24am Oct 8, 2013 4:24am
- Joined Jan 2011 | Status: ,,,,, ....,,,,,, | 6,008 Posts
Price broke last candles' lows, TDI bounced and quite frankly I wanted to keep Arete companyI entered as price pulled a little back (a few pips), to try to get a better price
.... laughing all the way to the bank
- #25,944
- Oct 8, 2013 4:40am Oct 8, 2013 4:40am
- Joined Jan 2013 | Status: Trader | 1,657 Posts
{quote} I can see what he means, you have to apply some discretion when trading... For a newbie it isn't so easy to trade the way PHX does, because there are numerous fakeouts out there and knowing how price moves during the euro session is what helps him take the right trades.
Oh and hi there lastingwell, nice to see you here
Now that Emmanuel is gone it seems everybody comes storming to the castle with new ideas. Although is coming from a good intention it's unnecessaryWhat did they all teach us ? The basic method, with almost no indicators or extra fancy stuff. To be profitable with this system you only need 4 things
Adding other indicators and lines will only make it harder and...
It is much appreciated that the more experienced traders who share their new ideas could elaborate with reference to basic tms method.
{quote} I disagree about phx's charts looking good in hindsight, all charts look good in hindsight. I've forward tested the H1 for months and although our s/r levels differ (I like to use trendlines) funnily enough our trades are very close. There is no "secret" to them. He uses his s/r levels, then looks for price action around those points, either where he thinks price will turn, or for a continuation of the trend - no secret to it.
And you missed completely the point I made about "secret" word used. What we all see in all charts is the tip of the iceberg. Underneath the tip is all hidden we don't see.
Every successful trader had his/own "secret" which make up his/her edge in trading the markets.
Reading what you wrote, I say you have a long way to go. So keep learning and practicing.
- #25,948
- Oct 8, 2013 6:34am Oct 8, 2013 6:34am
{quote} Being new to tms, Armacom's sharing is good for newbies like me. Newbies to tms will have a better understanding with more examples and could made comparison between now and the past. It is much appreciated that the more experienced traders who share their new ideas could elaborate with reference to basic tms method.
It's not that all information is bad, it's often just unnecessary ..
I remember when i started reading this thread I was excited. It was simple, people had success with it and I understood the concept. But as I advanced in the thread things were added and it became a mess in my head. Why add all of these things if the thread starter didn't use them and was profitable ?
The answer came later
The thread starer only used HA candles and the TDI. Does that mean that that is all he used ? No ! He referred often to 'basic forex stuff'
He used S&R but didn't draw them, he just checked it quickly visually.
He looked at previous market movements, comparable to ABCD harmonics/ trend / etc.
He looked at (double) tops and bottems on the TDI, comparable to oversold/overbought / Divergence etc.
These things that he just SAW without having to draw anything is possible by having a lot of experience. Does that mean that we can't do it ? Sure we can, we just have to draw it to help us visualize it
Again the key is Market Structure, Price Action and the understanding your TDI
Don’t ever let someone tell you that you can’t do something.
{quote} Agree totally, I just wanted to get the point over that its not a secret formula he has that nobody else can possibly trade, it can be done by others. I know nothing of trading London because I rarely get the chance to trade it, but I do trade the Asian session and NY and still get the same sort of trades as he does. {quote} Thank you and nice to see you too
There is no secret formula in any trading.
No two traders trading the same system will produce the same end results.
- #25,950
- Edited 8:04am Oct 8, 2013 6:44am | Edited 8:04am
{quote} {image} This H1 trade we did yesterday is now converted to a H4 trade. We may have a resumption of the Uptrend. So we manage and add positions to a full risk % when we get a confirmation. Those of us in EMMAMNUEL778 ' trading room are in this trade altogether. {image} There is a H4 Master Candle Breakout see in the chart above.
That nasty M15 high volume spike down to 1.6025 (edit) took out my stop at BE. If you believe in stop hunting, this is one.
Did a quick re-entry in M15 and now took TP1 +20pips and BE trades again.
Now we need to watch how this will break Prev D High and 1.6100 psych level.
EU H4 8 Oct trade breakout potential {image} Master Candle Swing High-Swing Low Inside Bars Catch that, use LTF entry for small initial SL.
EU H4 8 Oct, building position in preparation for the breakout.
It is still early, but you can be conservative and wait for the breakout then trade the first retracement.
