One last trade this week....a classic TDI trade that hit my target. Entry made on a break above the trend line with TDI green crossing over red, yellow and the 50 line.....reached the target. A very nice set and forget trade. 
- #31,322
- Feb 21, 2014 4:02pm Feb 21, 2014 4:02pm
- Joined Nov 2008 | Status: Trader | 50,185 Posts
I was wondering what you thought of this USDJPY set up forming. Is this a good buy signal forming? if so where would you place your TP? The second red line or the 3rd? {image}
You got your TP 2 at 102.87. Congrats!
Thanks for your UJ post, that gave us all a good realtime chart study and tracking UJ on H1 today.
Now we see the price structure and what the TDI shows us. The week close below 102.72, which is the last time buyers and sellers agreed on 12 May 2013.
Looking at D, I do not see a reversal yet.
Look at H4, still too early to say that is a reversal.
Now on H1, we the the price structure L-H> HH -HL> HH-HL> ??? no LH LL seen yet, so we wait for thestructure change.
For your weekend Big Picture Planning, you should start looking at the Monthly chart, then the Weekly chart, then the D chart....
If someone would be so kind and generous to post his/her UJ Big Picture Planning this week, that would be greatly appreciated by many other here and we shall be learning a few more lessons and I am sure we will reap some good pips next week and next month.
Have a Good Weekend.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #31,324
- Feb 21, 2014 4:06pm Feb 21, 2014 4:06pm
- Joined Nov 2008 | Status: Trader | 50,185 Posts
One last trade this week....a classic TDI trade that hit my target. Entry made on a break above the trend line with TDI green crossing over red, yellow and the 50 line.....reached the target. A very nice set and forget trade.{image}
simply awesome!
Phx62. Thank you for sharing this Friday' trade.Folks,
this is what I believe in when people say 'keep it simple' they should do it with consistency and not come here to repeat that slogan 'keep it simple' like a chant.
Have a Good Weekend folks.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #31,325
- Feb 21, 2014 4:18pm Feb 21, 2014 4:18pm
- Joined Nov 2008 | Status: Trader | 50,185 Posts
PCRF H1 example, The current LO candle is only 16mins, with another 44mins to close... {image}
Now, let's do a post mortem on that chart I posted above.
Did that H1 candle close showing us a PCRF?
Is that a high probability trade setup when that H1 closed?
What were the risks of that trade setup when that H1 closed?
If you have to add to your pre-trade enrty checklist, what would you add? Remember, you need to make your own trading rules and not simply following any system rules given by someone else. When you set your own rules, only you know when those rules can be broken with confidence.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #31,327
- Feb 21, 2014 4:34pm Feb 21, 2014 4:34pm
- Joined Nov 2008 | Status: Trader | 50,185 Posts
{quote} I appreciate your answer. But i know that Fridays isnt good day to trade. My point was did i understand right.? Or should i wait etc. Lets assume its Tuesday.I tried to put colour on every line that was listed "NONE" but i dont see MBL. i have TDI Green Red... And like you see arrows in my screenshot, market has turned AGAIN against me. And this has happened me all over again. Always when i see crossover i enter and then market just turn against me. I really dont know what im doing wrong. I trade 1h and 4h TF. {image}
medIce:
Just a short comment to help you in your beliefs.
The market does not turn against us. We are wrong when we trade against the market.
Learn to read the market, where the buyers and sellers are and how they negotiate the price.
Stay away when they are negotiating, until we see them make a decision, then we join in and follow.
Sounds so easy, but not easy to do.
regards,
EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #31,328
- Feb 21, 2014 4:53pm Feb 21, 2014 4:53pm
- Joined Nov 2008 | Status: Trader | 50,185 Posts
{quote} Hi Emmanuel, thanks for encouraging me, i know i have a lot to learn, especially from the psychological side.... often i enter a trade but i'm not self confident to let it run (see the picture)Have you got some tips to control emotions? {image}
Hi Valentinik87,
I have to admit that I don't know everything. I know what I do not yet know.
Some people thought I am a Great Teacher who knows everything. I sense the sarcasm and I felt flattered.
What I do not know, I read, I ask, I study, I beg, I dig, ,,,, then I come to know.
Here is a good read to start with on how to control our emotions.
http://www.learntotradethemarket.com...K1TRq_KpoHwtMW
Regards,
EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #31,329
- Feb 21, 2014 5:37pm Feb 21, 2014 5:37pm
{quote} {image} Now, let's do a post mortem on that chart I posted above. Did that H1 candle close showing us a PCRF? Is that a high probability trade setup when that H1 closed? What were the risks of that trade setup when that H1 closed? If you have to add to your pre-trade enrty checklist, what would you add? Remember, you need to make your own trading rules and not simply following any system rules given by someone else. When you set your own rules, only you know when those rules can be broken with confidence.
As a guess 'Pull Back Candle Reverse Formation?'
- #31,330
- Feb 21, 2014 5:41pm Feb 21, 2014 5:41pm
{quote} I appreciate your answer. But i know that Fridays isnt good day to trade. My point was did ...
TDI: In my version of "TDI Red Green" in MT4 it is the line no. 2. Perhaps set additionally the line width. If yours is another version, try to find another on the paperclip above the thread. There you get all attachements, which werde posted in this tread. (easier to sort them alphabetically)
Your trade: I currently do not follow the AUDUSD, so just a short view. You traded in a situation where price is consolidating/retracing after a H1 downmove of about 50 pips in a small range of about 10 to 15 pips - and that is typical for a market with low volume at the end of the week...
Trading TMS on H1 TF: If you trade on H1 it is not enough to look only at the APB colors and the TDI cross.
If you do that, you will kill your account.It is furthermore important what price is doing, what candle patterns occur previously, where support and resistance zones (i.e. previous swing lows / highs) are located and at which time price does move.
If you are interested in trading TMS in H1 TF I highly recommend to read the pdfs from the "grandmaster" of H1-TMS phx62 (you'll find them oin the paperclip too).
If I traded in the week and he posts afterwards his results on simillar pairs, I allways feel like the teacher gives us the sample solution. Thanks a lot phx62
Even for TMS trading in H4 it is important to know the recent price levels and to take in account at which time you trade and where the main trend is going. Read the post of Big E, the thread started and lots of material of emmanuell and others. Unfortunately it will not work without lots of effort.
fxFox (all times in my charts are GMT+1)
- #31,334
- Feb 21, 2014 10:34pm Feb 21, 2014 10:34pm
{quote} Most of us just use realistic targets based on ADR, personally I don't manage anything it's either SL or TP for me. Once my trade is opened, I set my sl above a swing high or below a swing low and my target to 50-100 pips and I wait... Depending on the pair I lock b/e after 20 or 30 pips (where 30 is for more volatile pairs). Whatever timeframe you trade, you need to keep an overall eye on PA... From a birds-eye (D1-W1 charts) to zooming in on the M15-M5 charts. Have to take many things into account before taking a trade
- #31,335
- Feb 22, 2014 12:10am Feb 22, 2014 12:10am
- Joined Nov 2012 | Status: Trader | 2,339 Posts
I Have Learned to Take Some Losses to Make Profits
- #31,337
- Feb 22, 2014 1:56am Feb 22, 2014 1:56am
- Joined Nov 2012 | Status: Trader | 2,339 Posts
I Have Learned to Take Some Losses to Make Profits
