@GiRL, 140 pips holding your position only a day is super! Thanks again for sharing.
- #35,461
- Apr 10, 2014 8:54pm Apr 10, 2014 8:54pm
- #35,462
- Apr 10, 2014 8:55pm Apr 10, 2014 8:55pm
- Joined Oct 2007 | Status: Pip Seer | 1,299 Posts
Pip what you see; See what you pip!
- #35,463
- Apr 10, 2014 8:57pm Apr 10, 2014 8:57pm
- Joined Apr 2007 | Status: Trader | 1,021 Posts
{quote} Mike, Once I moved the stop to break even on this position I shifted to a Position trade mentality...that is, I'm watching the Daily chart. I could have explained that better in the post. As you can see by the chart below, I'm trailing the Daily PAC with the S/L using the same concept I do for an H4. {image}
How much is your SL distance to the lower PAC line?
Sorry if these are redundant questions but I don't get it
Regards
Mike
P.S. Sorry ,I was referring to your Last chart which I just figured out it is H4 chart.Now I am clear. Thanks
Failure, is a wonderful teacher!
{quote} Have added the extras http://www.forexfactory.com/showthre...36#post7398436 Remember also as I understand Big E did not get caught up in MM (Bizzzle can correct me). On 10000$ account he took 1 lot and moved his emergency stop far enough away not to caught
Thanks
- #35,465
- Edited 9:29pm Apr 10, 2014 9:08pm | Edited 9:29pm
Hi guys! I just wanted to add this for those of you who are new and feel overwhelmed by all the different trading strategies now in this thread. I joined this TMS thread some time back looking for a “easier” way of trading. For most of my trading career I’ve concentrated on the 1 minute chart and scalping with moderate success t, but very time-consuming. In fact any profit was soon lost in more courses etc etc. When I came across this thread I read about the first 25 pages and realised that Big E was not only onto something simple, but it was working...
I just wanted to clarify on your London 4hr, as I too am from AUS.
When you say 6am/10am London, are you talking London local time. 6pm/10pm AEST time?
I too began with 15m charts, to 1hr charts but now now focussing primarily on 4hr,D charts. So much less stress!
Cheers mate
- #35,466
- Apr 10, 2014 9:09pm Apr 10, 2014 9:09pm
{quote} I am sorry Zoopots.May be I am confused. As I learned you put your SL's a litlle bit below the Lower PAC line.If this is right then how you survived April 7-9 when price broke the lower PAC? How much is your SL distance to the lower PAC line? Sorry if these are redundant questions but I don't get it Regards Mike P.S. Sorry ,I was referring to your Last chart which I just figured out it is H4 chart.Now I am clear. Thanks
Take care.
- #35,471
- Apr 10, 2014 10:12pm Apr 10, 2014 10:12pm
- Joined Mar 2010 | Status: Trader | 2,261 Posts
thanks for the invaluable info gilr. i have also had success on dmeo trading TMS on daily chart but i was holding positions open over multiple days / weeks sometims, part closing and trailing the rest of positions.
can you give more information about the daily channel? is that the fxshi channel indicator or are you manually drawing channel?
thanks
can you give more information about the daily channel? is that the fxshi channel indicator or are you manually drawing channel?
thanks
{quote} With the daily setups I try only to trade with the daily channel. I only consider trading against if top or bottom of channel
- #35,472
- Apr 10, 2014 10:20pm Apr 10, 2014 10:20pm
thanks for the invaluable info gilr. i have also had success on dmeo trading TMS on daily chart but i was holding positions open over multiple days / weeks sometims, part closing and trailing the rest of positions. can you give more information about the daily channel? is that the fxshi channel indicator or are you manually drawing channel? thanks {quote}
both on daily and 4h chart
- #35,473
- Apr 10, 2014 10:42pm Apr 10, 2014 10:42pm
Somebody a while back put this list together to summerise Big E trading rules
On one of Big E posts he made this comment (my emphesis)
Keep it simple... When green crosses red... enter at the beginning of that candle. Make sure it's candle #1 or 2... otherwise pass and find another trade unless it's a bounce trade. Always look left to make sure your not trading into a close supp/res level. You know the exit rule from the previous post... hope you trade the 4hr chart and make gobbs of pips... Big E
Have you read the thread completely? For about the 3rd time... I don't use a SL on the Hour charts and on the 4hr charts I use the last swing/reversal hi or lo...
The main entry rule is: green crossing red on the TDI within the first 2 candles for an entry...
I don't care what the red TDI line is doing.
Did Stoch's confirm the TDI signal between the 20-80 lines...?
The 12-2 and 4-6 is for the TDI and not the 5ema... that would just be a bonus...
If you meet the TDI entry rule it doesn't much matter where the 5 ema is in relation to the 1st two candles...
All this extra crap does nothing but confuse other traders and their success rate drops and they can't figure out why..
On one of Big E posts he made this comment (my emphesis)
Keep it simple... When green crosses red... enter at the beginning of that candle. Make sure it's candle #1 or 2... otherwise pass and find another trade unless it's a bounce trade. Always look left to make sure your not trading into a close supp/res level. You know the exit rule from the previous post... hope you trade the 4hr chart and make gobbs of pips... Big E
Have you read the thread completely? For about the 3rd time... I don't use a SL on the Hour charts and on the 4hr charts I use the last swing/reversal hi or lo...
The main entry rule is: green crossing red on the TDI within the first 2 candles for an entry...
I don't care what the red TDI line is doing.
Did Stoch's confirm the TDI signal between the 20-80 lines...?
The 12-2 and 4-6 is for the TDI and not the 5ema... that would just be a bonus...
If you meet the TDI entry rule it doesn't much matter where the 5 ema is in relation to the 1st two candles...
All this extra crap does nothing but confuse other traders and their success rate drops and they can't figure out why..
- #35,476
- Apr 10, 2014 11:20pm Apr 10, 2014 11:20pm
6 am London in less than an hour. Any suggestions at thsi stage? I am looking at EJ and UJ
can I ask why you target the 6am London ? Is this the time you spot setups prior to london/new york open on the 4hr charts?
I've been looking at your 6am/10am positions and want to change my style to 4hr/D trading so your advice is invaluable.
Cheers mate.
- #35,477
- Apr 10, 2014 11:28pm Apr 10, 2014 11:28pm
6 am London in less than an hour. Any suggestions at thsi stage? I am looking at EJ and UJ
Also marked AUDCAD, CHFJPY, EURCHF, GBPJPY and USDJPY. All of them had dodgy setups, but I want to check later how they went
- #35,478
- Apr 10, 2014 11:34pm Apr 10, 2014 11:34pm
- Joined Nov 2012 | Status: Trader | 2,339 Posts
I Have Learned to Take Some Losses to Make Profits
- #35,479
- Apr 10, 2014 11:40pm Apr 10, 2014 11:40pm
{quote}Hehe, same 2 for me, but I dismissed UJ as too small of a movement. I'm long on EJ, but it's counter trend so I just want to scalp something in the next 4 hours or 8. Also marked AUDCAD, CHFJPY, EURCHF, GBPJPY and USDJPY. All of them had dodgy setups, but I want to check later how they went
Will decide after bar close
- #35,480
- Apr 10, 2014 11:42pm Apr 10, 2014 11:42pm
[quote=TheScorpS;7398726]
The bonus is that Big E did the heavy lifting for us. All we need to do is build confidence in his simple strategy by demo trades or small live account
We must avoid trying to re-invent the wheel as many are trying to do in this thread!
If we want the Big E results Thats an awesome post, RIP Big E for such amazing strategy , I really like when he said the he took off one whole year and just demo trade and studied old chart to build confidence If TMS want to get the results that Big E talks about then there's no substitute than hard working , studying old chart, building confidence , tweaking here and there until you get to see the results you like to see
We must avoid trying to re-invent the wheel as many are trying to do in this thread!