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TMS and Me

  • #141
  • Nov 13, 2014 6:08pm Nov 13, 2014 6:08pm
Hi Goorman. Is that an h1 chart? Your candle looks different than mine. Which is strange, I can understand h4 and higher being different due to broker time zone, but not h1.

This candle right here was the result of many news. When such news hit I try to let the dust settle before making decision, so in this case I wouldn't be taking this trade. Green didn't look too bad, it was a bit above 50 but the angle was so sharply down.
Attached Image

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To take this trade you would consider a few things beyond this thread. I'll point them out but don't let them confuse you
- Price made double/triple top
- Price rejected longer period MA (in your screenshot is 200 MA?)
- Rejected flip zone, meaning this level had served as both support and resistance before.

The cross looked a lot better on my h4 chart.
The trend was down, green heading below 50 with plenty of room to fall, red turning down as well.
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Everything you can imagine, is real - Pablo Picasso
  • #142
  • Nov 13, 2014 6:25pm Nov 13, 2014 6:25pm
Quoting dinhienhy
I have tried to SELL GJ when the green cross over the red bellow 50. {image}
Hi dinhienhy.
Green level isn't bad. I'm not sure I like that spike up tho both price and TDI green.
You have the down trend behind you which is good. Best of luck!

I imagine the best level to take profit would be like this. No need to adjust TMA multiplier if you can picture it in your mind.
Attached Image
Everything you can imagine, is real - Pablo Picasso
  • #143
  • Nov 13, 2014 6:37pm Nov 13, 2014 6:37pm
  •  goorman
  • | Joined Mar 2007 | Status: Reality is wrong.Dreams are 4 real | 23 Posts
thank you for your explanation
Im trying to see chart from my office, so what i can access for is from web base , its little bit differnt because HA only whitout bar ,
and Yes im using MA 200 as trend confirmation

success for your interview
good is not enough,when better is available and best is still possible
  • #144
  • Nov 13, 2014 6:38pm Nov 13, 2014 6:38pm
Quoting Direwolf
{quote} Hi dinhienhy. Green level isn't bad. I'm not sure I like that spike up tho both price and TDI green. You have the down trend behind you which is good. Best of luck! I imagine the best level to take profit would be like this. No need to adjust TMA multiplier if you can picture it in your mind. {image}
Thanks for your advise. I took profit with 10 pips. A not bad first trade with your system.
I hope every one in this thread win win!
  • #145
  • Nov 13, 2014 7:12pm Nov 13, 2014 7:12pm
A little note that I don't take cross mid candle. I try to enter right at the start of new candle.

Ideally I prefer cross that are confirmed with closed candle. On live candle it can still change.
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This is an example of open cross, where cross occurred while candle was still live.
Big E did trade open cross. I consider them riskier, so the cross needs to look real nice for me to enter.
Attached Image
Everything you can imagine, is real - Pablo Picasso
  • #146
  • Nov 13, 2014 11:31pm Nov 13, 2014 11:31pm
Interview went really well! Have a few more lined up for next week.

Just saw this, NZD/JPY.
Pro - with the up trend. Green nice level.
Con - 3rd blue candle. Yellow heading down. A few candle closed completely below MA.
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What is your thought?

To me this is one of those almost good signal. Mixed with a few very good things such as buying with the recent up move but also a few cons. It's easy to find excuses to enter in this case such as hey I'm trading with the up trend. But imo if there are some things not matching up with your rules, it's better to stay out. Else you'll be stressing yourself when you hold your position.
Everything you can imagine, is real - Pablo Picasso
  • #147
  • Nov 14, 2014 12:10am Nov 14, 2014 12:10am
Quoting Direwolf
Interview went really well! Have a few more lined up for next week. Just saw this, NZD/JPY. Pro - with the up trend. Green nice level. Con - 3rd blue candle. Yellow heading down. A few candle closed completely below MA. {image} What is your thought? To me this is one of those almost good signal. Mixed with a few very good things such as buying with the recent up move but also a few cons. It's easy to find excuses to enter in this case such as hey I'm trading with the up trend. But imo if there are some things not matching up with your rules, it's...
i prefer found another signal
  • #148
  • Nov 14, 2014 4:29am Nov 14, 2014 4:29am
About break even today.

AUD/CAD m30. 0.6R, stop 12, TP 8. TP set roughly at the TMA band.
Green heading below 50, Red Yellow all pointing down.
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GBPAUD h1. -0.5R. Stop 40, closed at -20
Mistake on my part. The recent strong bear made me look for short.
Totally overlooked the level, traded right into Big Round Number 1.8000. So I cut it short.
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Everything you can imagine, is real - Pablo Picasso
  • #149
  • Nov 14, 2014 5:57am Nov 14, 2014 5:57am
  •  goorman
  • | Joined Mar 2007 | Status: Reality is wrong.Dreams are 4 real | 23 Posts
Hi, I have another situation that i found from my chart (history last 3 candle before now), AUDUSD , what will you do if you see this one
- reject in ma 200
- green line head over 50
- HA without whick
Attached Image
good is not enough,when better is available and best is still possible
  • #150
  • Nov 14, 2014 6:14am Nov 14, 2014 6:14am
Hi Goorman. Based on the recent down move, I would be looking to sell at that point.
Price lined up with my 40 linear-weighted MA. There was no cross at that red candle but Green was especially nice.
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Don't forget USD red news an hour ago, you may want to close your trades earlier, or stay out completely from USD pairs.
Everything you can imagine, is real - Pablo Picasso
  • #151
  • Nov 14, 2014 6:43am Nov 14, 2014 6:43am
  •  goorman
  • | Joined Mar 2007 | Status: Reality is wrong.Dreams are 4 real | 23 Posts
So your decesion to enter also looking at 40 linear-weighted MA , it means you will enter long if next candle up to 40 linear-weighted MA,or going to short if rejected , just like your chart on GBPAUD post 148

my purpose asking this situation is to learn differnt situation, diffrent case.
good is not enough,when better is available and best is still possible
  • #152
  • Nov 14, 2014 7:28am Nov 14, 2014 7:28am
Ah I see. In this case I consider it a reversal trade and I have a few extra things that I look for on a different template.
The things I look for are divergence, price rejecting higher time frame MA and S/R. So yes AUD/USD would qualify in this case.

I'm happy to explain more how I trade reversal but I don't want to confuse others from the classic TDI trade I wanted this thread to be about.
Everything you can imagine, is real - Pablo Picasso
  • #153
  • Nov 14, 2014 1:11pm Nov 14, 2014 1:11pm
Just a few questions hopefully you can clear up for me and the other traders

1) Other than the TDI signal, what else do you look it in regards to entering a trade? (candle sizes? current trend? bounces off the TMA?) (Perhaps some sort of lesson on reading the PA/understanding what to do when the TDI lines up would be helpful if you get the time? )

2) To my understading, TP is set at next S/R level, then SL is usually the same as TP in terms of pips to create 1:1 RR?

3) Do you have any preference for what time of day to trade?

4) Do you open trades the same way Big E did? In the sense, cross on the previous bar, open just after the hour?

Hope to hear soon,

The kindest of regards,
  • #154
  • Edited 4:18pm Nov 14, 2014 4:08pm | Edited 4:18pm
Good morning and happy weekend.
Quoting flinx
1) Other than the TDI signal, what else do you look it in regards to entering a trade? (candle sizes? current trend? bounces off the TMA?) (Perhaps some sort of lesson on reading the PA/understanding what to do when the TDI lines up would be helpful if you get the time? )
Hi Flinx. The 2 things I give high priority are indeed TDI green and current trend. Or the "obvious move" so to speak.
If you look at my GBP/JPY trade, the down move to the left gave me bias to go short.
Attached Image

Yellow = SL. Few pips behind signal candle or behind swing high.
Green = entry point.
I try to enter trades right away at start of the next one but oftentimes I'll be a few minutes late. If price already moved too much, I would let it go.
Attached Image

I do use TMA mid line as my reference point but not to the exact pips. Think of the mid line as a zone, plus minus a few pips around it is ok.

Quoting flinx
2) To my understading, TP is set at next S/R level, then SL is usually the same as TP in terms of pips to create 1:1 RR?
I have a few way to set TP. S/R and TMA Band being the 2 I used often.
Before entering trade I would switch to cross hair mode with middle mouse and quickly drag on chart to see how many pips my SL/TP would be.
Like in this image, my stop was roughly 42-43 pips.
I want my trades to have at least 0.5R (the more the better of course) so if the potential TP point was less than 20 pips away, I wouldn't take it.
Attached Image


Quoting flinx
3) Do you have any preference for what time of day to trade?
Nothing in particular... I work in front of my PC and now that I have no job, I can pretty much peek at my chart anytime I want. This won't be the case anymore once I land a job.

I'm in a perfect time zone. Tokyo opens 7 AM, London opens 2PM, Newyork opens 7PM. (+/- 1 hour for DST) Anytime I look at my chart is a good time hehe.
Quoting flinx
4) Do you open trades the same way Big E did? In the sense, cross on the previous bar, open just after the hour? Hope to hear soon
Same as #1. I also prefer crosses that are confirmed with candle closed. Crosses that happen on live candle are riskier so unless TDI looks super nice I won't take them.

I hope that helps!
Everything you can imagine, is real - Pablo Picasso
  • #155
  • Nov 15, 2014 3:41am Nov 15, 2014 3:41am
Wow, massive thanks Direwolf, couldn't have asked for a better explanation!!

sorry for all the questions, I feel you are someone trading TMS I can actually understand!

Really looking forward to trading TMS once again now on Monday, will let you know how it goes.
  • #156
  • Nov 15, 2014 4:31am Nov 15, 2014 4:31am
You're very welcome Flinx. Please don't hesitate to ask, I learn a lot answering questions as well.

Posting my trades here helps filter my entries too lol. It makes me think if my entry is good enough I can show to others.
Stopped me from a few 50/50 set ups
Everything you can imagine, is real - Pablo Picasso
  • #157
  • Nov 15, 2014 5:12pm Nov 15, 2014 5:12pm
Quoting Direwolf
I used to have tons of pairs opened, lining up the bottom of my MT4. {image} At one point, some will fall off to the side. Scrolling back and forth just to find the one you want can get really annoying. Plus, they make MT4 really slow to start up. It was Gil again who showed me an alternative. Today I only have 1 chart per template and use the Market Watch to flip through pairs. By right-clicking and turning off Auto Arrange, you can resize column and push the useless numbers off to the side. {image} I then show all symbols, delete the ones I don't...

This is Gold Direwolf!! I was wrestling with it for many months! Thanks!
  • #158
  • Nov 16, 2014 11:11am Nov 16, 2014 11:11am
Just a brief line to say Hi Direwolf. Great thread and great posts, best of all you're bringing simplicity back to TMS which can't be a bad thing. Congratulations on your wedding and all the best for the future.
  • #159
  • Nov 16, 2014 5:08pm Nov 16, 2014 5:08pm
Good morning!

@Olafff. You're welcome. Glad it was useful.

@Tanglewood Hello and welcome. Thank you for dropping by and your blessing

I might start the week with a loss. We'll find out. Stop and TP roughly 30 pips.
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Everything you can imagine, is real - Pablo Picasso
  • #160
  • Nov 16, 2014 5:19pm Nov 16, 2014 5:19pm
I would suggest patience Direwolf, at least to break even. That's just me though. We strive for perfection, but if progress is what we achieve, life is good.
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Pip what you see; See what you pip!
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