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Trading Made Simple

  • #40,621
  • Aug 26, 2014 11:21am Aug 26, 2014 11:21am
Quoting adikashyap
Lastingwell and ThescorpS, Is this the reason you always want both Red and Green (TDI) to head in the same direction to trade? All helps and comments appreciated ... {image}
For me yes its very important aspect in taking trades
I Have Learned to Take Some Losses to Make Profits
  • #40,622
  • Edited 11:47am Aug 26, 2014 11:37am | Edited 11:47am
To those that took EA trade short, wonderful , keep at it and good luck

To me I started the day in a negative trade -18 , only if I followed my testing results that might not be a looser too, but anyway this setup alone and the emergence draw down IF Then thought process will take time to manage well

So back to hunting trades again, took EJ long on 2 positions and closed manually for +19 and +15

Second trade was taken after PA retraced back to EMA 10, I am learning to use that as benefit to add positions to a trade, it takes time to really understand how this EMA 10 works, so don't try it live , demo it first if you like the idea

My goal is to try to close the day positively
Attached Image (click to enlarge)
Click to Enlarge Name: Win_loss.jpg Size: 363 KB
I Have Learned to Take Some Losses to Make Profits
  • #40,623
  • Aug 26, 2014 1:09pm Aug 26, 2014 1:09pm
Quoting TheScorpS
To those that took EA trade short, wonderful , keep at it and good luck To me I started the day in a negative trade -18 , only if I followed my testing results that might not be a looser too, but anyway this setup alone and the emergence draw down IF Then thought process will take time to manage well So back to hunting trades again, took EJ long on 2 positions and closed manually for +19 and +15 Second trade was taken after PA retraced back to EMA 10, I am learning to use that as benefit to add positions to a trade, it takes time to really understand...
Hi Scorps,
The indi in the top right hand top corner in your chart, does that tell you in which direction the different TF are moving in?
  • #40,624
  • Aug 26, 2014 1:18pm Aug 26, 2014 1:18pm
Quoting forexday
{quote} Hi Scorps, The indi in the top right hand top corner in your chart, does that tell you in which direction the different TF are moving in?
It tells me exactly where is EMA 10 and PA across all time frame, hope that helps, so if you use EMA 10 I think it might help, I glance at it when taking trades or planning trades
I Have Learned to Take Some Losses to Make Profits
  • #40,625
  • Aug 26, 2014 2:54pm Aug 26, 2014 2:54pm
Quoting zhangshuo
hi, TMS traders, can you double-check if my understanding of these 2 indicators is correct or not? for 'watchdog', the slope value is 1-6, which equals to 0-180 degrees. So '12-2 o'clock'( 0-60 degrees) means 'value 0-2' and '4 to 6 o'clock' (120-180 degrees) means 'value 4-6' ? for 'tdi mtf+alerts', I just attach it to a chart and when there's a cross or bounce, it will show an arrow on the candle? What about this 'mtf function'? Thank you for your time and help! {file} {file}
The watchdog understanding is not correct. Slope value can be whatever it happens to be, Ive seen it as high as 18 before. The idea is the higher the slope value at the opening of the candle the better the trade should be, ideally anything 4 and above is a good angle, that goes for up and down. If you put it on a 5 minute chart while you're watching it, it will give you the idea better.
  • #40,626
  • Aug 26, 2014 7:14pm Aug 26, 2014 7:14pm
Quoting zhangshuo
{quote} hi, likica, sorry to bother you with this, but I saw you use 'TDI mtf+alert b600+.mq4' indicator. Can you please tell me what it does and how I should set it up? THX for your time! Shuo
Hi Zhangshuo,

Sorry not replying you earlier, as I was too busy. Thanks LW and others who are actively here to share their experience and supports. I do not know much about engineering type of questions nor the answers so I don't think I can give you accurate answers to your questions.

However, I can only share what I found about the method by looking at the charts. I suggest you spend some times study Big E's, Phx62's, Lastingwell's TheScorpS's charts, ... and also study your own charts after you have your charts set up, even play around with your indies to see what they do.

So 'TDI mtf+alert b600+.mq4' indicator is a tdi indicator that I happened to download and used it since I started trading this method and it has alerts options when green crosses red, etc.. What I can advise is that for you to see what it does, you just attach the indi to your chart and see it yourself.
When I saw some other traders using TMSWatch Dog indi which show slope numbers, I got fascinated by the numbers and changed TDI mtf+alert b600+.mq4' to 'TMSWatch Dog' indi. Basically, they all do the same job for us by showing the same things that is when green crosses red with open angle we get in our trades at 1st or 2nd APB candle.
By the way, I learnt from a very good quote somewhere in fx forums stated that knowing space and time (vertical ) is far more important than price or signals (horizontal) when looking at your charts. Interesting to think....

Most of us here are quite good at spotting a signal and getting in a trade, and also most of us fail to be profitable at the end of the month. Why? I think I would need buddies to help me with the right answer rather than trying to know very detail of slope numbers and indicators behaviours....

Anyway, I just borrowed this space to share my thoughts (they might be the thoughts of a lot of traders here too) so I hope we can help each other to collect green pips every month, every year.

Have a great day and happy trading to us all. L
Appreciation is the key to wealth and happiness
  • #40,627
  • Aug 26, 2014 8:21pm Aug 26, 2014 8:21pm
It's sweet to have +50 green pips delivered when I got up this morning (A.E.ST) from EN short on H1 entered yesterday.
Attached Image (click to enlarge)
Click to Enlarge Name: EN H1 Sell Tue 26.8.14 ++.png Size: 76 KB
Appreciation is the key to wealth and happiness
  • #40,628
  • Aug 26, 2014 8:29pm Aug 26, 2014 8:29pm
Quoting zhangshuo
{quote} hi, froglicker, thx for your reply. But I am asking how this alert function works.THX
sorry, meant to reply last night but got timed-out the whole time.Anyway, works automatically.Attach to a chart and see for yourself
Quoting likica
It's sweet to have +50 green pips delivered when I got up this morning (A.E.ST) from EN short on H1 entered yesterday. {image}
great trade, L.I realize many traders here trade the Euro pair, would that be a good idea for me to do so to?
  • #40,629
  • Aug 26, 2014 8:45pm Aug 26, 2014 8:45pm
Quoting froglicker
{quote} sorry, meant to reply last night but got timed-out the whole time.Anyway, works automatically.Attach to a chart and see for yourself{quote} great trade, L.I realize many traders here trade the Euro pair, would that be a good idea for me to do so to?
Thanks Froglicker. I don't know which pairs to advise you to take, from my view, I prefer to take the pairs that have biggest ATR(7) and at good S/R where I normally measure Fib level from HTF charts like W/D/H4 or at 200ema, 50ema (1st touch). ah yeah, don't know why I have not had the skill to master JPY pairs (got beaten many times ), need to stare at them more to scare them off hehehe...
Appreciation is the key to wealth and happiness
  • #40,630
  • Aug 26, 2014 9:12pm Aug 26, 2014 9:12pm
Quoting likica
{quote} Thanks Froglicker. I don't know which pairs to advise you to take, from my view, I prefer to take the pairs that have biggest ATR(7) and at good S/R where I normally measure Fib level from HTF charts like W/D/H4 or at 200ema, 50ema (1st touch). ah yeah, don't know why I have not had the skill to master JPY pairs (got beaten many times ), need to stare at them more to scare them off hehehe...
heh.
just got myself out of a few bad trades on the H4, was certain the signals were all there. but i'm using a small account on microlots, so the loss is bearable.
I see.. thanks! Will figure out a few pairs that I can trade comfortably around H1-H4 TF.
by the way, loving the indi on top right, mind to share? the price and the arrow thingy..
have a great morning!
  • #40,631
  • Aug 26, 2014 9:38pm Aug 26, 2014 9:38pm
Quoting froglicker
{quote} heh. just got myself out of a few bad trades on the H4, was certain the signals were all there. but i'm using a small account on microlots, so the loss is bearable. I see.. thanks! Will figure out a few pairs that I can trade comfortably around H1-H4 TF. by the way, loving the indi on top right, mind to share? the price and the arrow thingy.. have a great morning!
Here you go.
By the way, I am a artistic type hence I enjoy decorating my charts so you might see something else on my charts next time... So as I mentioned on my earlier post 'space and time' are important, not my decorations
Attached File(s)
File Type: ex4 TMS 10EMA Dashboard.ex4   10 KB | 542 downloads
Appreciation is the key to wealth and happiness
  • #40,632
  • Aug 26, 2014 10:13pm Aug 26, 2014 10:13pm
Quoting likica
{quote} Here you go. By the way, I am a artistic type hence I enjoy decorating my charts so you might see something else on my charts next time... So as I mentioned on my earlier post 'space and time' are important, not my decorations {file}
ahaha..
I've noticed.
Anyway, indis like these are more for my visibility over anything else, being at work, I can only spare a few seconds to glance at a chart before getting back to the task at hand. I'm configuring my chart to be able to hit me with the info I need in a matter of seconds.
Anyway, thanks again, hope you have great day!
  • #40,633
  • Aug 26, 2014 10:40pm Aug 26, 2014 10:40pm
EURNZD GBPNZD...Trend still the same
Attached Image (click to enlarge)
Click to Enlarge Name: 2014-08-27_9-19-02 EURNZD GBPNZD.png Size: 67 KB
Sad i'm not trying to understand PA
  • #40,634
  • Aug 26, 2014 10:46pm Aug 26, 2014 10:46pm
Quoting omonisha
EURNZD GBPNZD...Trend still the same {image}
wow, great trades!
do you monitor all pairs? do you use any other TF for reference i.e. H1 and D1?
i want to learn, so much. I'm stuck on moves of 15-20pips at most, and would love to improve.
I've also taken a few trades this morning that reversed which I closed 5-10pips in the red, each.
Do you have any advice for me?
  • #40,635
  • Aug 26, 2014 11:08pm Aug 26, 2014 11:08pm
Quote
wow, great trades!
do you monitor all pairs? do you use any other TF for reference i.e. H1 and D1?
i want to learn, so much. I'm stuck on moves of 15-20pips at most, and would love to improve.
I've also taken a few trades this morning that reversed which I closed 5-10pips in the red, each.
Do you have any advice for me?

I agree with you too! omonisha is one heck of a trader! I'm really inspired & more motivated now!
~I'll take 5 pips or whatever I can~
  • #40,636
  • Aug 26, 2014 11:28pm Aug 26, 2014 11:28pm
Quoting froglicker
{quote} wow, great trades! do you monitor all pairs? do you use any other TF for reference i.e. H1 and D1? i want to learn, so much. I'm stuck on moves of 15-20pips at most, and would love to improve. I've also taken a few trades this morning that reversed which I closed 5-10pips in the red, each. Do you have any advice for me?

Hi froglicker
I have 12 pair on my checklist....Mostly GBP and EUR related...they have high ADR..Yes i take reference from D1 and W1...I would like to trade in the direction of those higher timeframe.....It's not bad when you entered and the trade reverse on you....we all faced that..and still facing...spend some time you can reduce that...take it seriously....do not just enter on every cross....trade may be in correction or reversing...Did you read phx62's pdf....read them...again read them..watch where he took those trade....learn the PA and cross...watch the location...the session...lastingwel sharing some valuable information read them....remember you don't have to trade everyday. Be picky....you will get there..

Regards
Omonisha
Sad i'm not trying to understand PA
  • #40,637
  • Aug 26, 2014 11:38pm Aug 26, 2014 11:38pm
good trade Omnisha. I m still having 1 EN position opened as stoc still flat at o/s. tempting to get out...
Attached Image (click to enlarge)
Click to Enlarge Name: EN H1 Short Tue 26.8.14 in progress.png Size: 66 KB
Appreciation is the key to wealth and happiness
  • #40,638
  • Aug 26, 2014 11:55pm Aug 26, 2014 11:55pm
Quoting likica
good trade Omnisha. I m still having 1 EN position opened as stoc still flat at o/s. tempting to get out... {image}

Wonderful..EN has a small Support below...that has been tested previously..if it can go pass and close below...we will have more room for the trade...Tomorrow is news..if it comes as expected...EUR will fall like rocket i guess...

Green pips
Sad i'm not trying to understand PA
  • #40,639
  • Aug 27, 2014 12:07am Aug 27, 2014 12:07am
Quoting omonisha
{quote} Hi froglicker I have 12 pair on my checklist....Mostly GBP and EUR related...they have high ADR..Yes i take reference from D1 and W1...I would like to trade in the direction of those higher timeframe.....It's not bad when you entered and the trade reverse on you....we all faced that..and still facing...spend some time you can reduce that...take it seriously....do not just enter on every cross....trade may be in correction or reversing...Did you read phx62's pdf....read them...again read them..watch where he took those trade....learn the...
yeah,
i've dl'd phx62's posts from a pdf doc somewhere in the forums, he seems to be a huge fan of EU on the H1 and M15 TFs.
I've just glanced at them thou, found it today and am going to digest it after work.
So, choose pairs with high adr, no?
what about exit rules? I've realized that phx62 would exit at -15pips and so on so forth.
Will definitely do the homework, the TMS is a great system.

Cheers, mate!
  • #40,640
  • Aug 27, 2014 12:24am Aug 27, 2014 12:24am
Quoting omonisha
EURNZD GBPNZD...Trend still the same {image}
Very nice trades, entry, management, top of the art, thanks for sharing
I Have Learned to Take Some Losses to Make Profits
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