EURAUD..Update...about to hit 100pip TP GOLD...TDI coming out from the oversold area Good trading day today {image} {image}
. I hope to master it one day soon.
- #36,942
- Apr 29, 2014 6:07am Apr 29, 2014 6:07am
- Joined Dec 2013 | Status: Trader | 1,680 Posts
{quote} Very good trading on the 1h chart
Sad i'm not trying to understand PA
Took this trade EA H1 short as per the TMS entry
After some negatives in past few weeks good to see some green.
1. Started with 0.04 lot short on EA H1 as a TMS entry on close of second candle
2. Set my 40% TP at 20 pips and 30% at 50 pips while moving my trailing SL after 20 pips gain at pips behind candle HL = 3 pips using Cavemanger EA
3. All profits taken and now last 30% of my initial amount is running on this trade
4. EA already hit 5 day ADR of 115 pips and TDI green just reached in 32 area.
5. Soon to be looking for exit.
Regards
After some negatives in past few weeks good to see some green.
1. Started with 0.04 lot short on EA H1 as a TMS entry on close of second candle
2. Set my 40% TP at 20 pips and 30% at 50 pips while moving my trailing SL after 20 pips gain at pips behind candle HL = 3 pips using Cavemanger EA
3. All profits taken and now last 30% of my initial amount is running on this trade
4. EA already hit 5 day ADR of 115 pips and TDI green just reached in 32 area.
5. Soon to be looking for exit.
Regards
- #36,945
- Apr 29, 2014 6:50am Apr 29, 2014 6:50am
- Joined Aug 2012 | Status: Trader | 18,670 Posts
the cautious seldom err....C
- #36,946
- Apr 29, 2014 7:11am Apr 29, 2014 7:11am
- Joined Dec 2013 | Status: Trader | 1,680 Posts
Took this trade EA H1 short as per the TMS entry {image} After some negatives in past few weeks good to see some green. 1. Started with 0.04 lot short on EA H1 as a TMS entry on close of second candle 2. Set my 40% TP at 20 pips and 30% at 50 pips while moving my trailing SL after 20 pips gain at pips behind candle HL = 3 pips using Cavemanger EA 3. All profits taken and now last 30% of my initial amount is running on this trade 4. EA already hit 5 day ADR of 115 pips and TDI green just reached in 32 area. 5. Soon to be looking for exit. Regards...
Nice..i like your style....unfortunately i am unable to set my cave manager
Sad i'm not trying to understand PA
- #36,948
- Apr 29, 2014 7:45am Apr 29, 2014 7:45am
- Joined Dec 2013 | Status: Trader | 1,680 Posts
{quote} Some nice trades off supply/demand zones there, omonisha
Thanks...yes today spotted some good trading zone
Happy pipin
Sad i'm not trying to understand PA
{quote} Nice..i like your style....unfortunately i am unable to set my cave manager
My EA H1 trade got hit SL at 1.49113 and I have no idea how come may be something cavemanager did on its own but I am very happy with this trade as this one has done for the day, I believe.
Last 3 candles tried to go past ADR low of 1.49060 and failed now TDI green is hooked and PA losing its pace for short trade on H1.
Regards
- #36,952
- Apr 29, 2014 11:46am Apr 29, 2014 11:46am
- Joined Dec 2013 | Status: Trader | 1,680 Posts
Sad i'm not trying to understand PA
- #36,957
- Edited 3:36pm Apr 29, 2014 3:25pm | Edited 3:36pm
{quote} Erl, Thank you for the in depth response!You're absolutely right about the stochs on my charts. Can't believe I missed it on all three charts!! In hindsight I was late opening my charts and rushed into the trades when I saw the large bodied candles appearing before me. Silly mistake that cost me all three trades. With regards to the rest of your post I'm unsure where I stand on all this at the moment. Without starting any arguments that have taken over this thread in the past few weeks, I was trialing "pure" TMS for a few weeks alongside...
- Method
- Money Management
- Mind (Your Beliefs and your trading psychology)
MY BELIEF is that the post in post #1 is part of a method and hence MY BELIEF that I was limiting my trading was learned when I thought trading was just about the Method
What I am trying to get at really is explaining what helped me is writing some answers to the following questions:
- What am I trying to accomplish
- What are my beliefs about myself, the markets, trading, systems, the big picture
- what are my strengths and challenges
- how can I capatalise on my strengths and overcome my challenges
- How can I design a system that fits me
- What does my system consist and what steps do I need to take to trade in a consistent way
- Have you got a trading system? You may be thinking why is this guy asking such a stupid question....of course I have a trading system!
Does it consist of these eight parts?
1. a market filter
2. set up conditions
3. an entry signal
4. a worst-case stop loss
5. re-entry when it is appropriate
6. profit-taking exits
7. a position sizing algorithm, and
8. you might need multiple systems for different market conditions. - You know may be saying yes I have these 8 parts or most of them! But what if I was to say this isn't a trading system its your trading strategy and essentially part of the the Method and Money Management components of the 3Ms check out the attachment
- Have you got a trading system? You may be thinking why is this guy asking such a stupid question....of course I have a trading system!
- What Biases affect how I test my trading system
- What are my objectives - are my goals realistic
- How can I make sure I trade those systems effectively and efficiently
- what can go wrong, and how can I minimize the impact of that
I wish you every success with pure TMS, the above is just some of what helped me along the way in this thread.
Erl
- #36,959
- Apr 29, 2014 4:31pm Apr 29, 2014 4:31pm
{quote} I minimize the impact of that I wish you every success with pure TMS, the above is just some of what helped me along the way in this thread. Erl
I certainly will be checking them out against what I am doing.
May I reproduce this on my website and you may care to elaborate some more.