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Trading Made Simple

  • #42,921
  • Oct 29, 2014 5:25am Oct 29, 2014 5:25am
Quoting Kouroushi
{quote} WDays, How can you do that? When I trade H1, I still find it essential to be at the screen at least for the first 5 hours of London.
Like this, I opened this baby at LO... I check on it every once in a while, have a 30 pip trailing and it seems I'm now in a freetrade. All I can do is to keep crossing fingers it goes to the 50 pip TP before it goes to the trailing SL

When you've entered a trade, set your TP and SL, estimated your management parameters (i.e when to lock b/e, what to watch out for etc.) you're done... you've got nothing more to do than to be patient and wait. So I figure, why bother watching over my trade like a hawk, when it won't bring me more or less pips. I'm completely powerless, all I can do is follow the big money Scratch that, it MAY bring me less pips if I panic and close my trade the second I see a tiny negative pip, only to have to watch it go my way after.

edit: forgot the screen
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  • #42,922
  • Oct 29, 2014 5:34am Oct 29, 2014 5:34am
first trade this week , EJ h4 .. 18 dempopips in a loss .
Just didn´t like the action in smaller TF´s and leave the office soon for a next meeting ,

One question for the better experiented " TMS traders" ..
Is it a good or a bad idea to view smalller TF´s for exit trades in this Strategy ?????

so no time to view the next candle open h45 in around 2 1/2 hours .

I´m still in profit with my demoacount , around 150 pips since 3 1/2 weeks .

My observationn in h4 is a little different to H1 in a first view the last weeks demoing.
Normally I can take " every h4 signal " and let it run until tdi goea flat or hoooks or so .
In H1 , the big difference is :
Very often I enter in a good signal , price runs about 20-30 pips in my direction ..
and then it turns back .
I´m trading during the european day and monitor my pairs only at candle open to find a decision ..
I´m sure I´ll find my way how to make this strategy mine.
green pips to all of you
Guido
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Risiko birgt immer auch die Chance.
  • #42,923
  • Oct 29, 2014 5:35am Oct 29, 2014 5:35am
GJ Trade followup

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Kindest Regards
  • #42,924
  • Oct 29, 2014 5:44am Oct 29, 2014 5:44am
Quoting MrAussieFX
GJ Trade followup {image} Kindest Regards
Might be starting to take off now, watch M15, I think PA is trying to close above LO trendline
I Have Learned to Take Some Losses to Make Profits
  • #42,925
  • Oct 29, 2014 5:45am Oct 29, 2014 5:45am
Quoting Sesamstrasse
first trade this week , EJ h4 .. 18 dempopips in a loss . Just didn´t like the action in smaller TF´s and leave the office soon for a next meeting , One question for the better experiented " TMS traders" .. Is it a good or a bad idea to view smalller TF´s for exit trades in this Strategy ????? so no time to view the next candle open h45 in around 2 1/2 hours . I´m still in profit with my demoacount , around 150 pips since 3 1/2 weeks . My observationn in h4 is a little different to H1 in a first view the last weeks demoing. Normally I can take "...

Sesamstrasse,
According to the basic TMS strategy, that 4hr EJ looks good to me and I also traded it on my demo and it hit my SL too. My SL was way too small for a 4hr chart. If FOMC wasn't coming up, I would probably put this on live with a larger SL.
  • #42,926
  • Oct 29, 2014 6:06am Oct 29, 2014 6:06am
Quoting Sesamstrasse
first trade this week , EJ h4 .. 18 dempopips in a loss . Just didn´t like the action in smaller TF´s and leave the office soon for a next meeting , One question for the better experiented " TMS traders" .. Is it a good or a bad idea to view smalller TF´s for exit trades in this Strategy ????? so no time to view the next candle open h45 in around 2 1/2 hours . I´m still in profit with my demoacount , around 150 pips since 3 1/2 weeks . My observationn in h4 is a little different to H1 in a first view the last weeks demoing. Normally I can take "...
Ciao Guido,
as you already know I agree with your point of view and I prefer have scalp exits with H1 of about 15-25 pips depending on the pair, same for SL.

Aim small, miss small. - sniper training first lesson -

I can't really get comfortable with H4, it's just me, more often are fake-outs IMHO.
Lorenzo
  • #42,927
  • Oct 29, 2014 6:11am Oct 29, 2014 6:11am
Bought EURGBP with TDI agreement in H1, H4 & D1.
Besides, I suppose, except some wicks against me PA is in my favour.
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  • #42,928
  • Oct 29, 2014 6:17am Oct 29, 2014 6:17am
Quoting Kouroushi
Bought EURGBP with TDI agreement in H1, H4 & D1. Besides, I suppose, except some wicks against me PA is in my favour. {image}
Nice! I just exited with a +5 ... not big satisfaction but it retraced already a bit since the previous H1 spike.
But I still like the signal. green pips on you!
Lorenzo
  • #42,929
  • Oct 29, 2014 6:20am Oct 29, 2014 6:20am
Quoting Kouroushi
Bought EURGBP with TDI agreement in H1, H4 & D1. Besides, I suppose, except some wicks against me PA is in my favour. {image}
That's pretty poor risk-reward you've got there bro, huge SL twice the size of your profit target
  • #42,930
  • Oct 29, 2014 6:31am Oct 29, 2014 6:31am
Quoting WDays
{quote} That's pretty poor risk-reward you've got there bro, huge SL twice the size of your profit target
That's the 1st tp you see on the pic that belongs to the half of the trade. I enter with 2 contracts
  • #42,931
  • Oct 29, 2014 6:35am Oct 29, 2014 6:35am
Quoting Kouroushi
{quote} That's the 1st tp you see on the pic that belongs to the half of the trade. I enter with 2 contracts
Oh okay, in that case I apologize.
  • #42,932
  • Oct 29, 2014 6:39am Oct 29, 2014 6:39am
Quoting WDays
{quote} Oh okay, in that case I apologize.
Come on... I always take the advantages of your comments and appreciate them.
  • #42,933
  • Oct 29, 2014 6:54am Oct 29, 2014 6:54am
Quoting lastingwell
{quote}If you look at Monday and Tuesdays trades, they were both traded the opposite direction to the tdi red line which phx62 also says he watches.
Hey Lastingwell,
You are so quiet these days, I hope everything is okay.
Yours
  • #42,934
  • Oct 29, 2014 6:55am Oct 29, 2014 6:55am
Quoting Kouroushi
{quote} Come on... I always take the advantages of your comments and appreciate them.
I'm glad I can be of service...

On a side note, finally... +50 TP hit
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  • #42,935
  • Oct 29, 2014 7:03am Oct 29, 2014 7:03am
Quoting WDays
{quote} I'm glad I can be of service... On a side note, finally... +50 TP hit {image}
Good job
  • #42,936
  • Oct 29, 2014 7:05am Oct 29, 2014 7:05am
Quoting lastingwell
{quote} Good job
Thank you, and once again thank you for the mentorship )
  • #42,937
  • Oct 29, 2014 7:06am Oct 29, 2014 7:06am
Quoting WDays
{quote} I'm glad I can be of service... On a side note, finally... +50 TP hit {image}
Excellent Wdays i am in that too
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Sad i'm not trying to understand PA
  • #42,938
  • Oct 29, 2014 7:08am Oct 29, 2014 7:08am
Quoting WDays
{quote} I'm glad I can be of service... On a side note, finally... +50 TP hit {image}
Well done! Had the same trade, but it hit my BE which i set after +23 pips... Do you move your SL in BE area after price going your way? And after how many pips you do this? Or your trail by the hi/low of previous H1 candle?
  • #42,939
  • Oct 29, 2014 7:12am Oct 29, 2014 7:12am
Quoting omonisha
{quote} Excellent Wdays i am in that too {image} {image}
Excellent yourself bro I'm too shortfused to keep profits running, it starts pissing me off at some point (ask LW lol) and I just want it to be over... I don't use multiple positions, so I don't exit one and keep one running Well done, and more green to us all!
Quoting toledoFX
{quote} Well done! Had the same trade, but it hit my BE which i set after +23 pips... Do you move your SL in BE area after price going your way? And after how many pips you do this? Or your trail by the hi/low of previous H1 candle?
I started locking breakeven only after price has run in my favor for 30 pips, what's more I've found that when the LO candle goes hard, the next one is usually a very deep retracement that may take you out if you lock b/e too soon. As per LW's advice, I use the built-in mt4 trailing set at 300 points (30 pips). Once I'm up 30 pips in profit, it locks breakeven for me and then it secures a certain amount of pips based on how far price has gone.
  • #42,940
  • Oct 29, 2014 7:27am Oct 29, 2014 7:27am
Here are my first 1H Charts for US Session.

AUDCAD
SL: 0.9970
TP: 9719

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CADJPY
SL: 94.60
TP: 97.60

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CHFJPY
SL: 113.03
TP: 114.56

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EURCHF
SL: 1.2125
TP: 1.2041

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EURJPY
SL: 135.12
TP: 138.79

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NZDCAD
SL: 0.8918
TP: 0.8773

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NZDCHF
SL: 0.7588
TP: 0.7448

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USDCHF
SL: 0.9567
TP: 9410

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USDJPY
SL: 106.52
TP: 108.77

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Some pairs near to cross and some already cross. Hope for the best!!

I am facing problem for TP, I can't understand where I will put TP's. This one is really difficult part of this strategy.

Thanks.
Umee
I Win, I Lose, It's my Job... And I Love it!
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