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Trading Made Simple

  • #37,381
  • May 12, 2014 10:59am May 12, 2014 10:59am
I'm watching USD/JPY and EUR/JPY D1 patience is the key in this game
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  • #37,382
  • May 12, 2014 3:43pm May 12, 2014 3:43pm
Quoting stevepatt
{quote} (...) Pipmeup made a good post here Post 17 about trade expectancy. Here is the link to his PDF on trade expectancy Post 1
Thanks! Really good point in that post and a good pdf, too

Quoting lastingwell
{quote}Thank you for that link, I'll take a look at the pdf a bit later on. Its always a difficult question, and one I think that can only be worked out according to your own trading plan and what you find is better for you. phx62 has an emergency stop loss of 50 pips and a take profit of 50 which looks like 1:1 but if you were to look at his actual R:R it is probably far better than that because he very rarely lets the stop loss get hit. I think it can only be worked out after x number of trades, for instance if you very often get taken out a BE...
My impression on SL from eelfranz's posts was the same - an emergency stop, but with a potential TDI setup price hardly ever goes down that much in the next 2 candles, if I see the price going against me I close the trade instead of waiting for it to hit SL.
TDI RR looks quite good, but mainly when waiting for the bottom/top of the trend and taking only those trades. Pure TMS is a scalping method and pushing RR on every decent setup may actually turn a few winners into losers

Quoting manoj_3986
Nice Pinbar on the same event area where previous big move happened after pinbar, also confirmed by tdi cross on Gold H4. {image}
I didn't take it since I still have some internet issues, but that gold was... well, gold TDI creates S/R on it's own and the open of the third blue candle broke the previous consolidation. Not quite Page-1-TMS analysis, but sometimes helps after choppy periods

Quoting Bizzzle
I am getting a lot of PM asking me what I have been disguising with lastingwell, so I thought I would share some of these thought for you all to back-test and gain confidence and become more profitable. Trading is about waiting for the best opportunity/probability in our trading and this can require a lot of patients. While doing a lot of back-testing I notice that when the MBL (yellow line) is near or past the extreme levels 68 and 32 on the TDI the market sets up for reversal. So once we see the MBL in these areas we know we have a high chance...
Thank you I gave it a quick look on a few charts and what you wrote on MBL plus green cross-red-and-bounce makes killer opportunities
  • #37,383
  • May 12, 2014 4:30pm May 12, 2014 4:30pm
A/U trade taken last thursday at resistence. Moved to b/e+(to cover swap). G/Y taken yesterday morn. at 10am(my time) At b/e
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the cautious seldom err....C
  • #37,384
  • May 12, 2014 5:39pm May 12, 2014 5:39pm
I hope someone out there is in the same boat as me with trying to balance trading times and still having a life.

I am trying to set up CaveManager to help me to 'set and forget' trades that will run through my night time. I am trading mostly H4 charts and sometimes trade H1 when I have the time. My trade entries are pretty good using almost pure TMS, but my exits suck big time - mostly too early

Reading the Cavemanager manual - I saw the description of this setting;

Use_Preceding_TP

"This option is used together with trailing stops to move Target Profit (TP) to precede price. What it means is that your TP is constantly adjusted to be ahead of the price by the number of pips you set together with your trailing stop adjustments - making trailing stops and preceding target work in tandem. The advantage this has over a standard static TP is that if market moves and your trailing stop start trailing price, it will eventually hit your standard static TP limiting your profit. Imagine as market moves, your SL and TP are both moving and shifting with price. This will maximize your profit for major market moves."

Maybe I am not understanding this correctly (and I have tried a number of variations in the settings), but failed to achieve what I wanted (getting both the SL and TP to move with price).

Has anyone got this right? If so please share your H4 and H1 settingsor...is there a better way to manage exits?
  • #37,385
  • May 12, 2014 5:45pm May 12, 2014 5:45pm
AUDUSD week20 H4 trade update:

A head and shoulders reversal pattern.

Attached Image (click to enlarge)
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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #37,386
  • May 12, 2014 5:47pm May 12, 2014 5:47pm
EURAUD week20 12May H1 trade closed.

this trade went no where so I decided to close that at BE.

Attached Image (click to enlarge)
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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #37,387
  • May 12, 2014 5:55pm May 12, 2014 5:55pm
GBPJPY week20 12May H4 trade update:

GJ having a good run up now in its 8th candle.

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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #37,388
  • May 12, 2014 8:09pm May 12, 2014 8:09pm
Quoting hostwey
{quote} That level has been pretty good , two bounces so far, and might go to 1310 though it may need to tap some more liquidity to do that. {image}
I agree with you.
  • #37,389
  • May 12, 2014 8:46pm May 12, 2014 8:46pm
Quoting emmanuel7788
GBPJPY week20 12May H4 trade update: GJ having a good run up now in its 8th candle. {image}
Looks like we both got out too early Emmanuel
Per Ardua Ad Astra - Through Adversity To The Stars
  • #37,390
  • May 12, 2014 9:08pm May 12, 2014 9:08pm
USD/CHF looks a bit confusing at the moment on H4 ?
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Take what the market gives you.
  • #37,391
  • May 12, 2014 9:17pm May 12, 2014 9:17pm
Hello gavman:

Regarding Cavemanager, I have tried performing what your are attempting to do many times, and in the end, I just couldn't waste anymore time on it and I feared bringing it up here in the TMS forum. I use HF as a broker, and they are a GMT -2 broker in confluence with Big E's candle timing.

I've also tried the mptm, with which I had even worse results. I'm guessing it's contingent on the broker you use.

I thought I would give you feedback albeit negative, rather than sit and say noting at all. I understand your frustration because if it worked, people like us who live on the other side of the Earth could participate more efficiently in markets such as the N. American.
  • #37,392
  • May 12, 2014 9:45pm May 12, 2014 9:45pm
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  • #37,393
  • May 12, 2014 10:01pm May 12, 2014 10:01pm
6AM: No trades for me. See ya at 10AM.
  • #37,394
  • May 12, 2014 10:34pm May 12, 2014 10:34pm
Quoting Flipper58
{quote} Looks like we both got out too early Emmanuel

I only scaled out 60% and still have 40% open and trailing behind 2 APB candles .
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #37,395
  • May 12, 2014 11:06pm May 12, 2014 11:06pm
Quoting hunter101
6AM: No trades for me. See ya at 10AM.

why not long NZDUSD and short GBPNZD?
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #37,396
  • May 12, 2014 11:19pm May 12, 2014 11:19pm
Intraday trade EA (1H). Feedback welcome.

TP: 40p; SL: 40p
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  • #37,397
  • May 12, 2014 11:29pm May 12, 2014 11:29pm
Quoting pastecopy
Intraday trade EA (1H). Feedback welcome. TP: 40p; SL: 40p {image}
Which pair is this ?
  • #37,398
  • May 12, 2014 11:32pm May 12, 2014 11:32pm
Quoting pastecopy
Intraday trade EA (1H). Feedback welcome. TP: 40p; SL: 40p {image}
Your in a good trade there, coming from a strong level of demand and H4 and D1 looking good also.
  • #37,399
  • May 12, 2014 11:36pm May 12, 2014 11:36pm
Quoting pastecopy
Intraday trade EA (1H). Feedback welcome. TP: 40p; SL: 40p {image}
I jumped on the same bus about 20 minutes ago Pastecopy, I'm targeting that big fat round number up above.
Per Ardua Ad Astra - Through Adversity To The Stars
  • #37,400
  • May 12, 2014 11:38pm May 12, 2014 11:38pm
Quoting pastecopy
Intraday trade EA (1H). Feedback welcome. TP: 40p; SL: 40p {image}
I am on it too
Attached Image (click to enlarge)
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Sad i'm not trying to understand PA
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