nice trade lastingwell......... I was in the exact same thing! TMS Truly is the KISS method. KEEP INVESTMENTS SIMPLE STUPID.
I, like many other traders came into the forex world looking to make a quick easy buck. Little did I know it would be the most horrifying, slap in the face wake up call experience of a lifetime. Search my posts, you'll see a "NewbTrader7" touting consecutive highly leveraged wins because "I" with so little experience had an edge. YEAH RIGHT! .... How many more posts do you see after those? NONE! I blew my account twice and the old adage "fool be once, shame on you ; fool me twice, shame on me!" holds true and dear to my heart. Like everyone else on here, I've spent countless hours scouring the net for the holy grail, welp there is none! There's only knowledge and the ability to understand/apply it in it's most simplest form.
Anyways, to cut a long story short. After spending the last two months earning pips and crawling out of the once dark hole I was in; I thought I would share with you guys struggling out there my .02 cents about this system:
Take it for what it's worth, a simple system. Don't overanalyze and don't try and make judgements about what YOU THINK it will do. There is not one single piece of advice that an indicator can give you that you can't read directly off of Price Action. If every successful trader you see on this thread tells you Price Action is KING then listen because that's what makes them successful. The ability to recognize multiple patterns all converging together at once adding to the probability that X price will reach X level. STUDY, STUDY, STUDY & STUDY some more. Take what useful information the TMS guys dish and try and make it your own. Adjust the trading to fit your style and risk appetite.
Here's a screen shot of last nights trade. As you can see my first entry was on a pullback from the most recent high and the TDI had NOT crossed as of yet, HOWEVER on m15 chart price had double topped and the TDI had crossed from the overbought area. That coupled with the rejection of the 38.2% fib level I decided it would be worth the risk. I entered with a 40 pip stop and a 40 pip take profit. As you can see price reversed after my entry and went back up to retest that high and 38.2% fib level but eventually tip toed its way back down. I added a second lot after the TDI line crossed the market base line and took out the pink area of support at around 142.674 and rode it down for a total of 55 pips which is 15 pips more than my daily goal.
Anyways, I want to thank eelfranz, phx62, emmanuel, and I'm sure i'm forgetting a few others who have posted pdf's, files and have contributed to the overall success of this thread. Please continue paying it forward as I too look towards contributing and passing along the same knowledge and ideas you guys have indulged us with. It's been a real pleasure learning from you guys! Keep it up the good work!
I, like many other traders came into the forex world looking to make a quick easy buck. Little did I know it would be the most horrifying, slap in the face wake up call experience of a lifetime. Search my posts, you'll see a "NewbTrader7" touting consecutive highly leveraged wins because "I" with so little experience had an edge. YEAH RIGHT! .... How many more posts do you see after those? NONE! I blew my account twice and the old adage "fool be once, shame on you ; fool me twice, shame on me!" holds true and dear to my heart. Like everyone else on here, I've spent countless hours scouring the net for the holy grail, welp there is none! There's only knowledge and the ability to understand/apply it in it's most simplest form.
Anyways, to cut a long story short. After spending the last two months earning pips and crawling out of the once dark hole I was in; I thought I would share with you guys struggling out there my .02 cents about this system:
Take it for what it's worth, a simple system. Don't overanalyze and don't try and make judgements about what YOU THINK it will do. There is not one single piece of advice that an indicator can give you that you can't read directly off of Price Action. If every successful trader you see on this thread tells you Price Action is KING then listen because that's what makes them successful. The ability to recognize multiple patterns all converging together at once adding to the probability that X price will reach X level. STUDY, STUDY, STUDY & STUDY some more. Take what useful information the TMS guys dish and try and make it your own. Adjust the trading to fit your style and risk appetite.
Here's a screen shot of last nights trade. As you can see my first entry was on a pullback from the most recent high and the TDI had NOT crossed as of yet, HOWEVER on m15 chart price had double topped and the TDI had crossed from the overbought area. That coupled with the rejection of the 38.2% fib level I decided it would be worth the risk. I entered with a 40 pip stop and a 40 pip take profit. As you can see price reversed after my entry and went back up to retest that high and 38.2% fib level but eventually tip toed its way back down. I added a second lot after the TDI line crossed the market base line and took out the pink area of support at around 142.674 and rode it down for a total of 55 pips which is 15 pips more than my daily goal.
Anyways, I want to thank eelfranz, phx62, emmanuel, and I'm sure i'm forgetting a few others who have posted pdf's, files and have contributed to the overall success of this thread. Please continue paying it forward as I too look towards contributing and passing along the same knowledge and ideas you guys have indulged us with. It's been a real pleasure learning from you guys! Keep it up the good work!
Attached Image (click to enlarge)
No point in fighting over silly things, and we definitely do not want you leaving the thread, lastingwell. You're such a great trader and a great help to people willing enough to learn.
