Disliked{quote} Hello Emmanuel7788, I would like to follow your trading procedure...Would you be kind enough to share it with me or teach me... Thank youIgnored
Hi chienung and ALL,
I share in this thread my approach to trading using TMS as the core method. Different traders have their own different approaches.
It will be lenghty for me to write down here in detail my approach to trading the spot forex market.
But, in brief, I start each month and week by doing a high level analysis using the Monthly and Weekly charts. This way I look for significant price swings and I identify thise what I call as Historical Swing levels and use them to look for support and resistance when I am at the lower timeframe D and H4.
This is what other traders will call monthly or Weekly Top Down Analysis WTDA.
I use CandleStick Pattern CSP to help me look for trade setup opportunities and I use the TMS method with the TDI as my confirmation of those CSP setups.
On a daily basis, I will form a bias looking at the previous Week and previous D candles. Where both the W and D are in congruent, I take only the trades in the bias direction and avoid any counter trend trade setups.
Following the fundamental way of market entry and trading that is to wait for a retracement then look for the timely market entry. This will give you a beter price entry.
What I share in this thread are my own trading ideas and also some trades I take in realtime market. Please do not take my posts I made as trade advise of any kind. There are more to every post I make here and it is just too time consuming if I have to write down my entire thought process behind each trade taken and that will mean I won't be able to post my trades after I open them. I share some trades here to show you all how I manage trades .
We all must learn to become independent traders and not rely on trade advise nor trade signals. We need to anaylse every chart condition and determine on our own if there are any high probability trade setups and aso the risks for every trade setups we see. As traders, our job is to mitigate those risks.
I do not think any trader here is capable to post trade advise nor send out trade signals therefore I don't recommend anyone here to trade your hard-earned money following other members' posts here. Learn from their posts and make your own independent decision and develop your own trading plan. Then forward test your trading plans in realtime market condition. Post your charts and trades, let other members share their views and we can learn a lot in doing so.
Trade Well.
EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
... very good trade entry and there was no threat to your initial SL.
