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  • #37,641
  • May 20, 2014 4:01am May 20, 2014 4:01am
The commodity currencies - AUD, NZD and CAD are big movers this week.

Does anyone know why?
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #37,642
  • May 20, 2014 4:04am May 20, 2014 4:04am
Quoting emmanuel7788
EURAUD week21 19May H4 trade: We saw how price made a bullish reversal at BRN 1.4600 and previous historical support, a bullish WRB and made a higher low. A nice Double IB breakout with good price momentum with TDI confirmation. {image}

Hi Emmanuel,

Nice trade.

There are a lot of different ways to trade this method, which is good, I'm more conservative with my approach and look for trend continuation after a pull back.

Everyone needs to find what they are comfortable with.
  • #37,643
  • May 20, 2014 4:15am May 20, 2014 4:15am
Quoting emmanuel7788
Here is an example how I use Position Building with Multiple Entries / Multiple Exits Money Management Strategy combined with proper Risk and Position Sizing. This strategy works best in H4 and D charts when the TDI shows the Green moves oustide the Volatility Band and croses as it move back inside the VB while the TDI is in the Over-Bought or Over-Sold levels and when this occurs around a major historical price swing level. {image} Note: This is now happening to EURUSD D chart so I see the opportunity to use this proven MM strategy.
Hi Emmanuel,

Whilst you where busy Position Building Long I would have been shorting the pull backs in the H4 trend.

Being able to do that is beyond my ability, to read the market, at the moment.
  • #37,644
  • May 20, 2014 4:52am May 20, 2014 4:52am
Emmanuel, whilst I respect your talents from what you show on here I've been following the Big E thread since way before Eric passed away and what you've just shown above has absolutely nothing at all to do with TMS. Since when did the TMS thread advocate to adding to losing positions? From what I've seen it's just the opposite, cut your losers short and let your winners run. By doing this you are encouraging new people here to take far more risk than their experience can handle and personally I think it's garbage.

From what I can see of that trade you were dead lucky, nothing more, nothing less.
Per Ardua Ad Astra - Through Adversity To The Stars
  • #37,645
  • May 20, 2014 5:02am May 20, 2014 5:02am
Quoting emmanuel7788
The commodity currencies - AUD, NZD and CAD are big movers this week. Does anyone know why?
I want to know
Sad i'm not trying to understand PA
  • #37,646
  • May 20, 2014 5:21am May 20, 2014 5:21am
Quoting emmanuel7788
The commodity currencies - AUD, NZD and CAD are big movers this week. Does anyone know why?

Maybe this is the reason?

http://www.telegraph.co.uk/finance/e...-to-burst.html

but in the past many of this kind of news about China (hard landing, shadow banking and etc) and nothing happen yet?
  • #37,647
  • May 20, 2014 5:31am May 20, 2014 5:31am
This is a low probability win trade, right? Because selling towards the demand zone though H4 TMS 5-method permits?
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  • #37,648
  • May 20, 2014 6:29am May 20, 2014 6:29am
Quoting pastecopy
This is a low probability win trade, right? Because selling towards the demand zone though H4 TMS 5-method permits? {image} {image}
That has got to be one very exhausted 'demand zone' by now, given the number of times price has been around that level. Sure any buy orders will have been liquidated by now. Though it could go deeper into the zone I guess.

Probably more historical/classical support than demand zone.
  • #37,649
  • May 20, 2014 6:32am May 20, 2014 6:32am
Quoting stevepatt
{quote} Hi Emmanuel, Whilst you where busy Position Building Long I would have been shorting the pull backs in the H4 trend. Being able to do that is beyond my ability, to read the market, at the moment.
Hi Steve,

Position building requires totally different mindset to trade with. That took me more than 3 years to learn and practice before I took that plunge in 2011 and developed that as one of my trading system for position trading. For me, the single entry / single exit days were long over long time ago.

I fully agree with you, trading is an individual thing and everyone needs to be comfortable in all things related to the trading method and also especially the money part of this business. It is not any easy business to be in.

regards,

EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #37,650
  • May 20, 2014 6:48am May 20, 2014 6:48am
Quoting Flipper58
Emmanuel, whilst I respect your talents from what you show on here I've been following the Big E thread since way before Eric passed away and what you've just shown above has absolutely nothing at all to do with TMS. Since when did the TMS thread advocate to adding to losing positions? From what I've seen it's just the opposite, cut your losers short and let your winners run. By doing this you are encouraging new people here to take far more risk than their experience can handle and personally I think it's garbage. From what I can see of that trade...

Hi Flipper58,

I started my learning journey in the Craig Harris Stochastic thread and I learn both the 21/233 Method and the 5-Method. Back then I was trading a version of the COWABUNGA system using 10,50,100,200 MAs, MACD and Stochastics. Finally I made the switch and stick to using the 5-Method as my core technical trading strategy.
This TMS thread was started by eelfranz aka Big E for us to continue to discuss and share our trades using the 5-Method. TMS is not limited to post#1 only and I also look at post#261 and developed from there using the same 5-Method. But I put a lot weight on Price Action @ Support and Resistance when I pick the TDI cross as comnfirmation. This improve my win rate by selecting only the high probability trade setups using PASR +TDI.
You are correct to say that Eric did not advocate anyone adding to losing positions.I also do not advocate anyone add to losing trades. Position building is not adding to losing positions. You need to read the pdf ‘How to Build a Position’ which I posted many months ago taken from a book by Silvani Agustin title “How to Beat the Forex Dealer”.
“Cut losses short, Let Profit Run” is something which I advocate in many of my posts. That has more to do with how we manage our trades... The Exit Strategy is something which many traders here have the option to look at and adopt what they are comfortable with. It is for this reason why I post my trades and share my updates on how I manage my trades exits.
I am not encouraging people to expose to more risk. You do not understand this money management strategy in detail yet. It is a pity that you call thing garbage when you have not known the details. The risk per traded currency pair remains the same using the percentage risk model and we play with multiple positions of smaller size and we have an equity protection as stop loss.
There is no luck element in forex trading unlike that of gambling in a casino. We have forex history charts available to us and we as technical traders do our own top down technical analysis. We look for technical trade setup condition on our charts and we set our own rules for taking trades. That requires technical skills to analyse charts and also to do so in a consistent manner over a long time. At the end, it is the discipline factor which play a major factor whether we are successful in trading our own system with own defined rules.
Anyway, my sharing this ME/ME strategy is meant for those who are looking at more options to trade TMS 5-Method using the higher timeframes and to be profitable over a longer term. This will work out for those who hold fulltime day job s and cannot access their computer to trade on H1 and H4. Detail document for this strategy will be made available to those interested.
For those who are already profitable trading the H4 chart the way it is laid out in post#1, well I say, good for you and stay that way.
For those who still thinks TMS is about Green cross Red, then I say you will need luck because to see Green cross Red is a very basic skill some may say a child could do it. But trading with hard-earned money is no child's play.

Good Trading.

regards,

EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #37,651
  • May 20, 2014 6:51am May 20, 2014 6:51am
Quoting emmanuel7788
Here is an example how I use Position Building with Multiple Entries / Multiple Exits Money Management Strategy combined with proper Risk and Position Sizing. This strategy works best in H4 and D charts when the TDI shows the Green moves oustide the Volatility Band and croses as it move back inside the VB while the TDI is in the Over-Bought or Over-Sold levels and when this occurs around a major historical price swing level. {image} Note: This is now happening to EURUSD D chart so I see the opportunity to use this proven MM strategy.
Hi Emmanuel ,

Can you make something clear for me in building position do you use initial SL or you set only TP and after some pips you add to that losing position and setting new TP.
Could you provide some more details about MM you use.
  • #37,652
  • May 20, 2014 7:01am May 20, 2014 7:01am
Quoting safrash
{quote} Hello hostwey what is the indicator 79% and arrows up? thanks
Sorry for the delay, missed your post.

BarTimer &

TMS 10 EMA Dashboard I think. All from FF.
  • #37,653
  • May 20, 2014 7:04am May 20, 2014 7:04am
Quoting emmanuel7788
EURAUD week21 19May H4 trade: We saw how price made a bullish reversal at BRN 1.4600 and previous historical support, a bullish WRB and made a higher low. A nice Double IB breakout with good price momentum with TDI confirmation. {image}

Attached Image (click to enlarge)
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This trade is running well and approaching 60% of the aevrage weekly range. I wil start tighten my trailing stop to trail behind 2 APB candles on H1.
My final TP is now set at 100% of the weekly average tradied range near the BRN 1.4900.
Just manage the downside and let the market decide the upside, we do not know.

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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #37,654
  • May 20, 2014 7:06am May 20, 2014 7:06am
Quoting emmanuel7788
{quote} Hi Flipper58, I started my learning journey in the Craig Harris Stochastic thread and I learn both the 21/233 Method and the 5-Method. Back then I was trading a version of the COWABUNGA system using 10,50,100,200 MAs, MACD and Stochastics. Finally I made the switch and stick to using the 5-Method as my core technical trading strategy. This TMS thread was started by eelfranz aka Big E for us to continue to discuss and share our trades using the 5-Method. TMS is not limited to post#1 only and I also look at post#261 and developed from there...
Saw this yesterday on USDJPY. The 'pro's' were buying and scaling into UJ as it moved into Demand. How many retail traders would be buying at this phrase of the market?
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  • #37,655
  • Edited 7:30am May 20, 2014 7:17am | Edited 7:30am
Quoting alex8585
{quote} Hi Emmanuel , Can you make something clear for me in building position do you use initial SL or you set only TP and after some pips you add to that losing position and setting new TP. Could you provide some more details about MM you use.

Hi Alex,

This position building MM is specially for you... I know you want to trade once per day. So this is one good way to trade this market looking at higher TF and follow the trend of the higher TF.

In brief, we start with knowing when we enter (the entry price level) and where the SL exit (the exit price level) where we cut loss. Next we calculate the pip distance of entry level to the exit level and decide the number of levels where we can add-on positions. There are different method to add-on postions, I use the ADR or when the TDI cross again after the first entry. The MM position sizing is little bit complex to explain because we can use linear position sizing or we can use a factor for add-on positions. We protect a % of the equity as the overall SL. What is nice is all these are done using scripts and a EA for management.
I will send you the completed document soon.
To trade this way, you need to do the top down analysis the way I do and the TDI OB/OS condition must be there at key historical swing of the MN chart.

regards,

EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #37,656
  • May 20, 2014 7:36am May 20, 2014 7:36am
Quoting hostwey
{quote} Saw this yesterday on USDJPY. The 'pro's' were buying and scaling into UJ as it moved into Demand. How many retail traders would be buying at this phrase of the market? {image}

Increasing volume as price make a low and stalls always make me suspicious who the sellers really are.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #37,657
  • May 20, 2014 7:40am May 20, 2014 7:40am
Quoting emmanuel7788
Here is an example how I use Position Building with Multiple Entries / Multiple Exits Money Management Strategy combined with proper Risk and Position Sizing. This strategy works best in H4 and D charts when the TDI shows the Green moves oustide the Volatility Band and croses as it move back inside the VB while the TDI is in the Over-Bought or Over-Sold levels and when this occurs around a major historical price swing level. {image} Note: This is now happening to EURUSD D chart so I see the opportunity to use this proven MM strategy.
well done. Just wondering how I missed these set-ups on H4 with those buebs. I reckon I was bogged down with G/U and like you was building positions
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the cautious seldom err....C
  • #37,658
  • May 20, 2014 8:13am May 20, 2014 8:13am
Quoting pips29
{quote} well done. Just wondering how I missed these set-ups on H4 with those buebs. I reckon I was bogged down with G/U and like you was building positions {image} {image}

Thanks.
Trading can be a very lonely business and when we trade alone, we will missed many opportunties.
My recommendation is not to trade alone. Get together a few likeminded traders and form a team.
Among the team, everyone has some tasks to perform like doing the market watch list everyday and each team member shall be responsible for 2 to 3 currency pairs to keep watch during the trading business hours.
What is important is that the team do the weekly top down analysis together for all currency pairs traded and prepare the team trade plan for the new week.
Once the trading week starts, each one has his watch list to monitors and alert the others ahead when there are any potential trade setups as in the trading plan. This will lessen the work and burden on one person trading alone.Morevover, as a team we share many resources and split the costs too.
This has worked out for me and my 8 trading buddies as a team and we share a live trading room together. Lots of fun everyday especially when we read posts in FF. Trading as a business has been great. Hence I have spare time write and post in this thread.

regards,

EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #37,659
  • May 20, 2014 8:42am May 20, 2014 8:42am
Quoting emmanuel7788
{quote} Hi Alex, This position building MM is specially for you... I know you want to trade once per day. So this is one good way to trade this market looking at higher TF and follow the trend of the higher TF. In brief, we start with knowing when we enter (the entry price level) and where the SL exit (the exit price level) where we cut loss. Next we calculate the pip distance of entry level to the exit level and decide the number of levels where we can add-on positions. There are different method to add-on postions, I use the ADR or when the...
Thanks for the info and your overall help i am waiting for that document with big patience.
Of course i know that it want be the HOLY doc that after that i will enter FORBES but it will be the start to develop my own which fit me better and of course share it with all the people intrested.

Good trades to all.
  • #37,660
  • May 20, 2014 9:06am May 20, 2014 9:06am
EURUSD week21 D chart trading with Position Building.

Open first position seeing TDI cross up and APB change colour and TDI in the OS region. There is a historical swing level at 1.3610, usually we see market reaction at these swing levels as support.

I will post daily updates as this trade progresses.

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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
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