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  • #27,881
  • Nov 28, 2013 12:24pm Nov 28, 2013 12:24pm
My trade from this morning, entry was on break of mini double top with LO candle breaking the FO candle high.

Closed for +25 due to the messy area to the left and just wanted quick profit today.
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  • #27,882
  • Nov 28, 2013 1:25pm Nov 28, 2013 1:25pm
Quoting Bizzzle
{quote} I am very successful with the 4 hour charts, I tried 1 hour but like you, I prefer 4 hour. Back-testing is the best way to get confident in trading. A couple things to note is wait for a candle to closed before exiting because many times the candle will change colour and then pull back. I only open trades the same times as {image} eelfranz did! GMT 6am, 10am, and 2pm! There earlier the better. I also have my 6 pairs in front of me at all time and if I see most of them with the same signal it...
Would it be too much to ask you to elaborate on how you manage your trades, apart from locking b/e, do you trail further? How do you set TPs? I'm really interested in your method... I'm quite impressed with the trades you have posted so far, too.
  • #27,883
  • Edited 4:44pm Nov 28, 2013 4:27pm | Edited 4:44pm
Quoting Bizzzle
{quote} I am very successful with the 4 hour charts, I tried 1 hour but like you, I prefer 4 hour. Back-testing is the best way to get confident in trading. A couple things to note is wait for a candle to closed before exiting because many times the candle will change colour and then pull back. I only open trades the same times as {image} eelfranz did! GMT 6am, 10am, and 2pm! There earlier the better. I also have my 6 pairs in front of me at all time and if I see most of them with the same signal it...
Thank you for the sensible tips.

Tell me, how much do the news affect your decisions - asuming we're talking strictly about TMS H4 trades, so no quick H1/M15/M5 scalps? I know that for some pairs the news start a move that often continues afterwards, but what about those fakey news candles? Do you stay out of the trades and only enter afterwards on continuation? Or do the news usually have relatively low impact on the H4, so you disregard them?
  • #27,884
  • Nov 28, 2013 5:28pm Nov 28, 2013 5:28pm
Quoting WDays
{quote} Would it be too much to ask you to elaborate on how you manage your trades, apart from locking b/e, do you trail further? How do you set TPs? I'm really interested in your method... I'm quite impressed with the trades you have posted so far, too.
TP is very hard to answer because every trade is different.

Some trades I have longer time views so hold trades longer. Sometimes ABCD moves or waves.

The best and safest way is to close when you have a reversal i.e change of candle colour.

Because if it then continue you can re-enter.

If you study the 4 hours charts you will see that you hardly ever have a different colour candle in a good move, only really on the pullback or reversal.

look at my chart:
Attached Image (click to enlarge)
Click to Enlarge Name: Candles.png Size: 67 KB
Give yourself a chance and trade it like it's layed out...
  • #27,885
  • Nov 28, 2013 5:44pm Nov 28, 2013 5:44pm
Quoting Lane
{quote} Thank you for the sensible tips. Tell me, how much do the news affect your decisions - asuming we're talking strictly about TMS H4 trades, so no quick H1/M15/M5 scalps? I know that for some pairs the news start a move that often continues afterwards, but what about those fakey news candles? Do you stay out of the trades and only enter afterwards on continuation? Or do the news usually have relatively low impact on the H4, so you disregard them?
News is important but it really depends on many things!

If I am in a trade and my stops are at break-even, most of the time I don't worry because I have no risk.

When you are back-testing do you check if there was news on that day?

If no then you are back-testing the market on PA and TDI and nothing else so the result don't account for news!

Some ppl trade it, some don't! Its all personal.

Practice on demo and gain some experience, believe me you will not regret it!!

Hope that helped
Give yourself a chance and trade it like it's layed out...
  • #27,886
  • Nov 28, 2013 7:05pm Nov 28, 2013 7:05pm
Hi Folks,

HAPPY THANKSGIVING and trust that everyone having a good time.

EJ just made a new high above 2009' 139.21.

We shall see how it will close today being the last trading day of Nov month.
Next Monday it will open a new MN candle and with festive holidays ahead, it will be interesting to see how EJ will trade in the two weeks 49 and 50 before the smart money goes on year-end shutdown.

Trade Well.

regards,
EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #27,887
  • Nov 28, 2013 7:35pm Nov 28, 2013 7:35pm
Quoting emmanuel7788
Hi Folks, HAPPY THANKSGIVING and trust that everyone having a good time. EJ just made a new high above 2009' 139.21. We shall see how it will close today being the last trading day of Nov month. Next Monday it will open a new MN candle and with festive holidays ahead, it will be interesting to see how EJ will trade in the two weeks 49 and 50 before the smart money goes on year-end shutdown. Trade Well. regards, EMMANUEL
Happy Thanksgiving to you too! I finished reading "trading for a living" and i really enjoyed it from the psychological perspective. Good stuff!
  • #27,888
  • Nov 28, 2013 7:36pm Nov 28, 2013 7:36pm
Quoting Bizzzle
{quote} TP is very hard to answer because every trade is different. Some trades I have longer time views so hold trades longer. Sometimes ABCD moves or waves. The best and safest way is to close when you have a reversal i.e change of candle colour. Because if it then continue you can re-enter. If you study the 4 hours charts you will see that you hardly ever have a different colour candle in a good move, only really on the pullback or reversal. look at my chart: {image}
I see. Thank you vey much. I'm still far from being able to trade H4, but I hope to do just that one day... Getting tired of eyeing charts every day from 9 to 5...
  • #27,889
  • Nov 28, 2013 7:52pm Nov 28, 2013 7:52pm
Quoting kwonkicker
Can i ask @emmanuel, from TMS point of view how you personally determine trend (as you did with eurjpy)? i know the basic TMS stuff but considering i am far from finishing the whole thread (im around page 100 or so ) i thought id just ask. Trading imo should be as easy as determining higher TF trend + avoid ranging markets + clear entry (in this case TDI). I am looking forward to discover why this thread is 1300pages long.

Hi kwonkicker,

You know what I meant when I say there is a trend in every timeframe.

When I trade 4H swing, I am trading the intra-week price swing using H4 timframe. When you read further in this thread, I wrote few times about the Market Type in which we trade. I have identified 3 market types which I would trade using TMS 4H.
The first type is the trending market type which is best suited for most trend trading systems including TMS.
The other market type is the wide range sideways market type which is also effective using TMS. This is where I use channeling technique with the TDI.
The third market type is narrow-range sideways which is not good to trade with TMS 4H.

EJ as we all know by now was strong trending for many months since Oct last year. The recent months continues trending but more to the wide range sideways but it is still trending upwards.
The recent weeks get more narrow ranged, but still trending upwards. we can see these on our charts. The weekly traded range has gone smaller but is still between 260 and 320 pips average per week. I target only 60% of this range when 4H siwng trading.

But, it is fundamental support that I am bullish with most Yen pairs. We read about Abeniomics in the works and so far it shows to be working and putting Japan economy in a good recovery path. We still need to see how that will continue into 2014. There are political and geopolitical iussues which can derail this. This are some risk we must anticipate when trading long term.

In brief, I hope this anwser your question. As you read more of this thread, take note of some of the trades I posted and use them as examples to see how I trade with 4H swings. The target profit TP setting is very important and using a proven exit management strategy will help maximise profit. Remember. it is all about Entries and Exits.

Regards,
EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #27,890
  • Nov 28, 2013 8:19pm Nov 28, 2013 8:19pm
Quoting blamshakk
hi manoj that looks like a nice channel indicator, can you share it please? {quote}
Please find attached TMA indicator.
Attached File(s)
File Type: ex4 TMA.ex4   10 KB | 375 downloads
  • #27,891
  • Edited 11:54pm Nov 28, 2013 8:30pm | Edited 11:54pm
Quoting manoj_3986
{quote} Please find attached TMA indicator. {file}
Just a word of caution:

You should know that this TMA indicator repaints all bars in history hence making history charts looks perfect. I am not saying this to make TMA (edited typo) useless in real-time live trading, but do not use it when you are doing visual back-testing rolling back history chart data.

How to use TMA in real-time trading and how to trade using TMA has been discussed in other threads.

Research and read up on this TMA and a full understanding how it is coded and you will see why re-painting happens.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #27,892
  • Nov 28, 2013 8:43pm Nov 28, 2013 8:43pm
Quoting emmanuel7788
{quote} Just a word of caution: You should know that this TMA indicator repaints all bars in history hence making history charts looks perfect. I am not saying this to make TMS useless in real-time live trading, but do not use it when you are doing visual back-testing rolling back history chart data. How to use TMA in real-time trading and how to trade using TMA has been discussed in other threads. Research and read up on this TMA and a full understanding how it is coded and you will see why re-painting happens.
Thank you very much for your valuable advice. I have just put it on my chart so that it reminds me to check trend before placing order.
  • #27,893
  • Nov 28, 2013 8:47pm Nov 28, 2013 8:47pm
Quoting goochie
GA : Pin Reversal Pattern Set up : Pin created due to news, which in turn created a double bottom. Entry : As news created the pin i entered on price breaking above the pin rather than wait for TDI cross. TP : ADR {image}
Hi

I would like to ask you about this in entry, which sometime confuses me, was there a cross of TDI when opened the trade ? I mean the pin didn't change color in this case, when the setup candle don't change color I find it hard to where would mostly PA headed next, or its the PA that we have to follow and interrupt

Many thanks to you contribution to this thread
I Have Learned to Take Some Losses to Make Profits
  • #27,894
  • Nov 29, 2013 12:01am Nov 29, 2013 12:01am
Quoting Bizzzle
{quote} I am very successful with the 4 hour charts, I tried 1 hour but like you, I prefer 4 hour. Back-testing is the best way to get confident in trading. A couple things to note is wait for a candle to closed before exiting because many times the candle will change colour and then pull back. I only open trades the same times as {image} eelfranz did! GMT 6am, 10am, and 2pm! There earlier the better. I also have my 6 pairs in front of me at all time and if I see most of them with the same signal it...
Can you please tell me what broker gives you H4 charts at these times ?
  • #27,895
  • Nov 29, 2013 12:20am Nov 29, 2013 12:20am
Quoting robuk
{quote} Can you please tell me what broker gives you H4 charts at these times ?
Robuk,

Page #1 he uses "FXDD"
  • #27,896
  • Nov 29, 2013 12:39am Nov 29, 2013 12:39am
Quoting robuk
{quote} Can you please tell me what broker gives you H4 charts at these times ?
I use alpari uk on my charts it the 4am, 8am and 12 candles...
Give yourself a chance and trade it like it's layed out...
  • #27,897
  • Nov 29, 2013 12:50am Nov 29, 2013 12:50am
Quoting TheScorpS
{quote} Hi I would like to ask you about this in entry, which sometime confuses me, was there a cross of TDI when opened the trade ? I mean the pin didn't change color in this case, when the setup candle don't change color I find it hard to where would mostly PA headed next, or its the PA that we have to follow and interrupt Many thanks to you contribution to this thread
Hi TheScorpS,

There was no cross of the TDI when i entered what got my attention was that the PIN was created from a subsequent news release - which from going through PHx62 pdfs and backtesting the trades and i'm sure he mentioned it recently, theres a high probability of a reversal - without the normal consolidation bars associated with a pin bar reversal pattern.

Although as you'd appreciate each case is on your interpretation / agreement of current market structure and in this case the double bottom had formed and it was also in the direction of the overall trend - from backtesting you run into trouble if a candle like this gets printed in a range as then it has no significance.

My entry on such a set up is when price breaks above the pin and on this occasion i watched it very closely as it took a while to go 20 pips in my favour for me to move to BE.

I hope this helps and i don't profess to being an expert on TMS as im still very much in the phase of learning just figured id got to the point where i need to start contributing rather than snooping .
Steadfastness is held above all success
  • #27,898
  • Nov 29, 2013 1:08am Nov 29, 2013 1:08am
I still see people are still asking about H4 charts - broker server time differences be that ... GMT+0, GMT+1, GMT+2 opr GMT+3.
How will these diferences affect the way you trade using TMS?
That does not matter much so long as you know what you are trading.
You need to know the opening and closing times of the three major markets - Tokyo, London and New York.
It does not matter what were the clock times eelfranz traded so long as you know the three major market sessions and your own local time.
Some of us will have charts which shows the Sunday candles, others not.
Different H4 candles will not matter and you need to understand market volatility and how to calculate your initial stop loss and where to place your initial stop loss.
What matter more is that you know when to make an entry and how to manage your exits.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #27,899
  • Nov 29, 2013 1:11am Nov 29, 2013 1:11am
Quoting pgtips
{quote} haven't been very active on this forum but will change soon. I find smaller TF mean I'm stuck at my pc too much which I can't do. Higher TF = less signals, more risk but more time as well. I looked at H8 and H12 but not sure if I'm liking those, not very common TF.

higher TF means fewer trades but bigger traded range.

higher Tf does not mean more risk than lower TF.

a SL of 50pips and a SL of 100pips has the same % risk per trade when you trade using position sizing.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #27,900
  • Edited 3:23am Nov 29, 2013 2:40am | Edited 3:23am
Hello, what do you think about this entry of mine on gbp/usd?

Even though it is counter trend, I`ve entered because PA reached year high. Limit is as 16228 and stop at 16384
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