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TMS and Me

  • #161
  • Edited 8:47pm Nov 16, 2014 8:36pm | Edited 8:47pm
Turned out to be a good start for the week. About 0.8 or 0.9R
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Have a job interview in an hour and a half. Good to feel happy
Everything you can imagine, is real - Pablo Picasso
  • #162
  • Nov 16, 2014 11:21pm Nov 16, 2014 11:21pm
Quoting Ivus
Dear Direwolf, thank you for this thread! I finally found clear explainations to TDI use! Finally!

I strongly second this opinion !!!

Direwolf, my situation is similar to yours.... I resigned from a long term career a little over a year ago due to health issues. I'd been studying technical analysis for five years prior to resigning. I'd studied with to paid mentors prior to resigning. Then picked up a third mentor once I resigned. But, I have to say, YOUR explanation has helped me more than any of those paid mentors. I could never figure out how to read and apply the TDI indicator to my trading.... until tonight, when I stumbled upon your thread. Like you, I was quickly running out of money with all my trading losses.... and seriously lacking in ideas of what to do once I hit bottom. My health issues won't permit me to work for an employer.

I am so grateful to you for starting this thread, and explaining TMS / TDI in a way that's easy to understand.... I literally do not have the words to express my appreciation.

  • #163
  • Nov 16, 2014 11:47pm Nov 16, 2014 11:47pm
Hi there

interesting approach, thanks for sharing it

There is one thing I am not sure about though, when is it a sell and when is it a buy signal ?

thanks
  • #164
  • Nov 17, 2014 2:10am Nov 17, 2014 2:10am
Thank you sknight, glad I can help. May the pips be forever in our favor

Hello and welcome EternalNewB. I wrote the basic about TDI on the second page, feel free to check it out.
Everything you can imagine, is real - Pablo Picasso
  • #165
  • Edited 2:22am Nov 17, 2014 2:12am | Edited 2:22am
Funny day. HR told me my interview is actually Monday 24th next week not today.

Saw GBP/CAD h1. Green looks good, Red so-so, Yellow going down, price trend going down.
Gauging my TP based on the yellow dots but will also be very careful once price reaches green level.
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Everything you can imagine, is real - Pablo Picasso
  • #166
  • Nov 17, 2014 2:55am Nov 17, 2014 2:55am
Quoting Direwolf
Thank you sknight, glad I can help. May the pips be forever in our favor Hello and welcome EternalNewB. I wrote the basic about TDI on the second page, feel free to check it out.
I did check it out but looks like I am a bit thick
I understand that Green crossing Red is the signal and that it should be around 50 and not far up or down however I don't understand when is the cross a sell signal and when it is a buy signal ? it depends on the direction of the green (Up or Down ?
  • #167
  • Edited 3:25am Nov 17, 2014 3:00am | Edited 3:25am
Direwolf, The thing about the using the TDI for entries that has always frustrated me (and lost me a lot of money) is it always seems to get me into a trade "late". Then I have to sit through a drawdown that is more than I can handle emotionally and financially. Maybe I've been applying the TDI incorrectly all this time. Could be operator error. But it has often seemed that plain old candlesticks on 4H and daily S&R levels have always gotten me into a trade more efficiently with tighter stops that aren't hitand better R:R.

Have you noticed having to sit through large drawdowns when using TDI for entry signals.....???
  • #168
  • Nov 17, 2014 3:04am Nov 17, 2014 3:04am
Ah... you trade in the same direction as the green.

Green crossing down = sell.
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Green crossing up = buy.
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TDI is the start, make sure you check out my other posts to lean more what I take into consideration before opening trades
Everything you can imagine, is real - Pablo Picasso
  • #169
  • Nov 17, 2014 3:22am Nov 17, 2014 3:22am
aud/jpy +30
eur/jpy +46
gbp/jpy +76
nzd/jpy +30
  • #170
  • Nov 17, 2014 3:24am Nov 17, 2014 3:24am
Quoting Direwolf
Ah... you trade in the same direction as the green. Green crossing down = sell. {image} Green crossing up = buy. {image} TDI is the start, make sure you check out my other posts to lean more what I take into consideration before opening trades
Thank you
  • #171
  • Nov 17, 2014 3:27am Nov 17, 2014 3:27am
Quoting sknight1
aud/jpy +30 eur/jpy +46 gbp/jpy +76 nzd/jpy +30


My GBP/CAD still stuck at +18
Everything you can imagine, is real - Pablo Picasso
  • #172
  • Nov 17, 2014 3:31am Nov 17, 2014 3:31am
lol ~ Oh you stop that.

If you only knew how much I've lost in getting to where I am now..... at best, a breakeven trader.

Did you see my question for you a few posts above (#167)....? Took a bit to be approved but, it appears my posts no longer require moderator approval so, that should help them from getting lost in the thread.

*** thank you moderators ***
  • #173
  • Nov 17, 2014 3:38am Nov 17, 2014 3:38am
Re: your gbp/cad.....

take a look at the daily chart.... the green line is hitting the 32 level.
take a look at the 4H.... your MBL is also down at the 32 level.
but, the 1H is starting to pop up over the MBL.

Did you go long or short...? If short, you might want to consider reversing to long, if not now, then at the NY open.

Just my 0.02 cents.
  • #174
  • Nov 17, 2014 3:39am Nov 17, 2014 3:39am
Quoting Direwolf
Ah... you trade in the same direction as the green. Green crossing down = sell. {image} Green crossing up = buy. {image} TDI is the start, make sure you check out my other posts to lean more what I take into consideration before opening trades
What if Green crosses down at +68 ? is it a valid signal or the up momentum is still too strong and you prefer it to be around 50 ?

thanks
  • #175
  • Nov 17, 2014 4:23am Nov 17, 2014 4:23am
@sknight I can see your post now.

I know exactly what you mean, trades rarely go instantly in our direction. Such as my #159 post this morning, it went 2/3 to my stop before coming back to a win. However I've gotten used to that now. Every trade can hit SL, that's the risk we have to be willing to take.

When trading daily PA I used to have my positions in the red for weeks. Longest was 3 whole weeks lol. You have to be comfortable with the amount you lose when SL gets hit, else you'll be really, really stressful when this happens.

I went short on GBP/CAD. when price reached swing low I moved my stop to BE plus a few pips. It just got hit.
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@EternalNewB, in that case I consider it a reversal trade. I look at more things when taking counter trend, it can be quite complicating so I don't want to get into that in this thread. However you can find lots of reversal trade examples over at the main Trading Made Simple thread.
Everything you can imagine, is real - Pablo Picasso
  • #176
  • Nov 17, 2014 4:40am Nov 17, 2014 4:40am
Glad to know it's not just me. Drives me bat-sh** crazy to see positions go into drawdown immediately after being placed. I think for that reason alone, I'll have to stick with trading price action on regular candlesticks, and maybe just keep the TDI indicator as a confirmation. I don't know how you tolerated a three week drawdown. I never could have done that. I want to see price action quickly move in my direction, move stops to BE once it goes 20 pips in my favor, and if it comes back to stop me out, so be it. But that's just what works for me. I take my cues from the 4H charts and drop down to 1H / 30M for entry, targets based on the 4H chart.

Still, I have to thank you for your awesome explanation of how to read / apply the TDI indicator.
  • #177
  • Nov 17, 2014 4:58am Nov 17, 2014 4:58am
Would you qualify this AUDCADH4 as a "good cross" ?
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  • #178
  • Nov 17, 2014 6:31am Nov 17, 2014 6:31am
Quoting Direwolf
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. {image}
Little confused with the reasons for entry here Direwolf! Perhaps you could elaborate?

Red looks quite flat?
You entered right at the outer TMA band? Wouldn't this normally be a miss?
Also, the previous run hit support at this same level, so why enter a long?

Regards,
  • #179
  • Nov 17, 2014 8:11am Nov 17, 2014 8:11am
@sknight I still remember 1 of those trades. AUD/NZD pin bar on daily TF.
Entered when price broke the low of that pin bar, TP at the green.
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@EternalNewB, looking at the candles I would be looking to buy up.

@ Flinx I entered long based on those series of blue candles visible on the chart.
Look at where the cross occured - Green Red Yellow all were pointing up.
Red did turn down a lil bit but that's after I already entered, at a live candle.

Concerning S/R, in the past when I see price hitting S/R I too wouldn't enter the trade.
Only to see other seniors in the TMS thread made profit from it.
I've lost tons of opportunities this way... that is why I learned to trust TDI and the obvious move.
Try to look back in history, you'll often see how price could break those S/R into 1-2-3 continuing the move.
Everything you can imagine, is real - Pablo Picasso
  • #180
  • Nov 17, 2014 8:19am Nov 17, 2014 8:19am
Quoting Direwolf
you'll often see how price could break those S/R into 1-2-3 continuing the move.
Sorry, whats 1-2-3?

"trust TDI and the obvious move."

I presume this referrs to the strength of the TDI signal and the current uptrend? (long run of previous bars)
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