Just want to say this is an awesome trading method, I've been using it for about 3 days now and I've already made 108pips over a few trades! Can't wait to improve my technique!
- #40,462
- Aug 20, 2014 6:44am Aug 20, 2014 6:44am
- Joined Oct 2012 | Status: Trader | 1,813 Posts
Since GJ failed to make a new structure low , look left, I decide its time to buy what seems a channel forming, there's 1 concern tho that news today would miss with the trade so the best decision is to close before the news, since 2 position opened, closing 1 and leaving the other for open for the news {image} {image}
- #40,466
- Aug 20, 2014 7:41am Aug 20, 2014 7:41am
- Joined Nov 2012 | Status: Trader | 2,339 Posts
{quote} My WMA shows a trendline on Gj that has beeb broken...dbl bottom with bullish divergence in the early week
I Have Learned to Take Some Losses to Make Profits
- #40,467
- Aug 20, 2014 11:55am Aug 20, 2014 11:55am
- Joined Nov 2012 | Status: Trader | 2,339 Posts
I Have Learned to Take Some Losses to Make Profits
- #40,468
- Aug 20, 2014 6:51pm Aug 20, 2014 6:51pm
- Joined May 2012 | Status: Happy trading n enjoy green pips | 5,322 Posts
Appreciation is the key to wealth and happiness
- #40,469
- Aug 20, 2014 6:55pm Aug 20, 2014 6:55pm
- Joined May 2012 | Status: Happy trading n enjoy green pips | 5,322 Posts
Third 100 pipers in 3 consecutive weeks, TMS is paying off, anyway took this trade based on M15, an early entry , guess what a deeper draw-down, but GJ failed to make new structure low, so decide to take the plunged after news , closed manually for +117 pips I don't know how many hours stayed into this trade, but long enough to test discipline {image}
. Just wondering how to keep yourself not attempting to exit the trade TheScorpS?
Appreciation is the key to wealth and happiness
- #40,470
- Aug 20, 2014 9:54pm Aug 20, 2014 9:54pm
- Joined Nov 2012 | Status: Trader | 2,339 Posts
{quote} well done
So if a trade I see is following EMA 10, then am a trend follower no matter what PA does as long as its riding EMA 10, I am even testing a trade management, that when I see EMA 10 is likely to holds pa from London open and I enter the trade, I will just leave my stop below LO low - 5 pips and will ride EMA 10 on H1, even if the trade reached 20 + pips in my favor, I will not move stop to BE, as long as PA is riding that EMA on H1, and as long as my stop is located will below LO low, then the trade should be fine, but again still learning this single strategy
Now back to GJ trade , I just rode EMA 10, it takes care of the rest, simple yet powerful , I was really into exiting the trade when PA pulled back almost 30 pips after news, but in that regard, I have been studying Elliot Wave principles and that also told me to hang on the trade , I am really fascinating buy Elliot Wave
Elliot Wave moves in 5 waves, so I tried to follow those waves along with EMA 10
Hope this chart shows what am trying to explain
I Have Learned to Take Some Losses to Make Profits
- #40,471
- Edited 2:41am Aug 21, 2014 1:54am | Edited 2:41am
- Joined May 2012 | Status: Happy trading n enjoy green pips | 5,322 Posts
{quote} I have been trying to learn all I could about EMA 10 power, I put that into the chart a year agao, was EMA 5, deleted that since it didn't make a lot of help to the way I trade, tried EMA 21, and saw that was not suitable for H1 trading so ended up with EMA 10 and left there the whole year, in this year I studied the relation of EMA 10 and PA , back-tested and forward tested that and it shows amazing results in following the trades or in avoiding entries when this EMA acts as support or resistance on H1, H4 , and am still learning how to...
, still trying to learn to stay with the trades myself)
Appreciation is the key to wealth and happiness
- #40,472
- Aug 21, 2014 2:45am Aug 21, 2014 2:45am
- Joined Nov 2012 | Status: Trader | 2,339 Posts
{quote} Thanks for sharing TheScorpS. Very well explanation, just not quite clear about EW. Do u have automatic EW or you have to manually draw those measurement and numbered them on ur chart? (I might be told off as it s not TMS topic
Need to write a detailed one so give me time
I Have Learned to Take Some Losses to Make Profits
- #40,473
- Aug 21, 2014 2:49am Aug 21, 2014 2:49am
- Joined Nov 2012 | Status: Trader | 2,339 Posts
I Have Learned to Take Some Losses to Make Profits
- #40,475
- Aug 21, 2014 6:44am Aug 21, 2014 6:44am
- Joined Dec 2013 | Status: Trader | 1,680 Posts
Sad i'm not trying to understand PA
- #40,476
- Edited 3:47pm Aug 21, 2014 7:23am | Edited 3:47pm
Interesting set up on GBPUSD monthly TDI. Just got 9 days to figure out a good entry or to see if it pulls back up some before I enter. It'll be a 0.01 trade short demo maybe also adding to it if the pound does go down to and through the box I've drawn on the chart. Be a long drawn out trade testing my patience though 
The short I've got going in EURGBP is doing just that 
PS I got to keep it simple so I borrowed your template TheScorpS
You are doing well 
The short I've got going in EURGBP is doing just that PS I got to keep it simple so I borrowed your template TheScorpS
You are doing well 
"You know what needs to be addressed , completely completely reverse that".
- #40,477
- Aug 21, 2014 9:04am Aug 21, 2014 9:04am
{quote} I will send you a PM later regarding EW and how to stay with the trend and sometimes even avoid fakeys
would be very much appreciated .
So..
After going thru almost alll the posts in this thread, discarding and picking up indis along the way, this is how my dashboard looks.
Gona try to use TMS on the XAU scene.
This is a configuration that puts scalping first, by taking moves within the 4HTF.
Will prolly play around with this after work.
During the work day it'll be a 4H and above only system, care to take a vote on which few pairs i should keep an eye out on?
After going thru almost alll the posts in this thread, discarding and picking up indis along the way, this is how my dashboard looks.
Gona try to use TMS on the XAU scene.
This is a configuration that puts scalping first, by taking moves within the 4HTF.
Will prolly play around with this after work.
During the work day it'll be a 4H and above only system, care to take a vote on which few pairs i should keep an eye out on?
- #40,479
- Aug 21, 2014 9:23am Aug 21, 2014 9:23am
- Joined May 2012 | Status: Happy trading n enjoy green pips | 5,322 Posts
Interesting set up on GBPUSD monthly TDI. Just got 9 days to figure out a good entry or to see if it pulls back up some before I enter. It'll be a 0.01 trade short demo maybe also adding to it if the pound does go down to and through the box I've drawn on the chart. Be a long drawn out trade testing my patience though
Why do you need 2 same tdi on your chart? 2nd tdi should be for higher TF?
Appreciation is the key to wealth and happiness
- #40,480
- Aug 21, 2014 9:24am Aug 21, 2014 9:24am
- Joined May 2012 | Status: Happy trading n enjoy green pips | 5,322 Posts
{quote} I will send you a PM later regarding EW and how to stay with the trend and sometimes even avoid fakeys
Appreciation is the key to wealth and happiness