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Trading Made Simple

  • #45,201
  • Nov 27, 2014 10:03pm Nov 27, 2014 10:03pm
Quoting omonisha
GBPAUD {image}

  • #45,202
  • Edited 10:18pm Nov 27, 2014 10:04pm | Edited 10:18pm
Quoting lorbax
{quote} SJ thanks for the constant daily support you always provide, support is so much necessary, for our 'psychological capital protection' GBP/AUD D1/H4/H1 3x +40ish pips -- ... here below: {image} In the end I collected 3 sets of 40ish pips each on average ... all flat by 7.00am (gmt+1) - sometimes a pinch of luck it's not bad
Hi lorbax, great trade, congrats!!! What does 3x +40ish pips mean? You put in 3 different trades? Thanks!!!
  • #45,203
  • Nov 27, 2014 10:10pm Nov 27, 2014 10:10pm
Quoting omonisha
GBPAUD {image}
Great trade omonisha!!! Congrats! I don't think I would have taken this... the cross doesnt look great to me (but both lines were going up) and it was running up into resistance - could have been a H&S pattern easy... you had some 4H confirmation, I think? What were your thoughts?
  • #45,204
  • Nov 27, 2014 10:18pm Nov 27, 2014 10:18pm
Quoting snarlyjack
Good morning Tms, Tms is a excellent system & were getting pretty good at trading it But their is more...the mental side of trading. Trading can be a huge "black hole" of emotions that you need to be aware of. Let me give you some examples of emotional trading & trading mistakes. Fear Greed Hope Regret Not understanding risk/reward Not understanding position sizing Are you a trader or a gambler Allowing your emotions to cloud your judgement Giving in to your emotions Not having patience Over trading & being to involved in the trade Not taking...
Great post SJ (as usual!)... I think I go through each and every emotion each trade... in that order... LOL!!!
  • #45,205
  • Nov 27, 2014 10:34pm Nov 27, 2014 10:34pm
Quoting snarlyjack
{quote} MrAussieFX, I think your doing great! Keep doing what your doing
Thanks SJ,

Why we should wait for the correct setup and enter only on the close of the Trade Entry Candle ?

These charts were taken on the daily TF but it applies to H4 and H1 in the same manner. When we see TSC (Trade setup candle) on higher TF we can always jump onto the lower TF to find the best entry where TMS TDI rules are met.

Lot of us (new members to TMS) may have this urgency of entering the trade as soon as we see the bullish or bearish candle. Which puts us in the losing trade.
Remember the APB (average price bars) move 3-8 candles in a healthy trend.

Let market show you where it wants to go and then see your TMS entry conditions and pull the trigger.

If you are new to TMS try to take the conservative trades only and build your confidence in the system.

Attached Image (click to enlarge)
Click to Enlarge Name: Candle closed outside PAC but above 50.png Size: 174 KB

Attached Image (click to enlarge)
Click to Enlarge Name: candles closed above and below 50 line.png Size: 205 KB


Kindest Regards
  • #45,206
  • Nov 27, 2014 10:46pm Nov 27, 2014 10:46pm
Quoting griffinssoul
{quote} Great trade omonisha!!! Congrats! I don't think I would have taken this... the cross doesnt look great to me (but both lines were going up) and it was running up into resistance - could have been a H&S pattern easy... you had some 4H confirmation, I think? What were your thoughts?
Yes could have been so. But i was looking at the market structure. I saw price came down to previous structure low and on 4H it made a double bottom and then creating an IB. On 1 H price pulled back.i Just got in over the RN on the IB. TDI coming out from the 32 level. Just my thinking
Sad i'm not trying to understand PA
  • #45,207
  • Nov 27, 2014 11:08pm Nov 27, 2014 11:08pm
Quoting omonisha
{quote} Yes could have been so. But i was looking at the market structure. I saw price came down to previous structure low and on 4H it made a double bottom and then creating an IB. On 1 H price pulled back.i Just got in over the RN on the IB. TDI coming out from the 32 level. Just my thinking
Nice thinking omonisha - the 4H is almost a perfect 5-wave with the first correction (wave-2) being 61.8 while the second (wave-4) was 32.8 but I would expect wave-4 to be more complicated. Nice work around the RN. From a pure TMS perspective this was risky on the 1H cause the 4H wasn't really that good I think - it was the D1 that was much better... Thanks so much mate!!!
  • #45,208
  • Nov 28, 2014 12:46am Nov 28, 2014 12:46am
Quoting lorbax
{quote} SJ thanks for the constant daily support you always provide, support is so much necessary, for our 'psychological capital protection' GBP/AUD D1/H4/H1 3x +40ish pips -- last night trade This was a bit 'risky' (in the sense of expectancy) as I was checking the D1 (not today's last one!) but it was just being formed at the time I entered, I noticed an IB and LH situation (of course in the course of the day...
hey Lorbax, nice job, can you help me telling me MA s are you using on those screensot?
  • #45,209
  • Nov 28, 2014 12:58am Nov 28, 2014 12:58am
Quoting snarlyjack
{quote} Lorbax, Thank you, What really helps me is to put in the levels (s/r) so I can target them. But, I think that is a excellent trade...go for it! sj
Yes, that is true ... I just removed afterwards for simplicity of the chart, but I would use them too! thanks
Lorenzo
  • #45,210
  • Nov 28, 2014 1:02am Nov 28, 2014 1:02am
Long AUDUSD on 1hr chart
Long NZDUSD on 1hr chart
Attached Image(s) (click to enlarge)
Click to Enlarge Name: AUDUSDH1.png Size: 48 KB
Click to Enlarge Name: NZDUSDH1.png Size: 52 KB
  • #45,211
  • Nov 28, 2014 1:20am Nov 28, 2014 1:20am
Quoting erelation
Long AUDUSD on 1hr chart Long NZDUSD on 1hr chart {image} {image}
I'm watching this one too. 4hr chart hasn't turned yet but stochastic has just curved and d1 chart red and green tdi lines are pinching looking like they might cross. D1 stochastic has also turned up and price has been rejected before previous resistance. Just gonna wait for LO and trade of the 4hr candle to make sure it's not a bounce. Also been quiet a bit of pull back on the h1 green candles so may just be a small retrace.

Good luck.
Intelligence is the ability to adapt to change. Stephen Hawking
  • #45,212
  • Nov 28, 2014 1:23am Nov 28, 2014 1:23am
Quoting nods80
{quote} I'm watching this one too. 4hr chart hasn't turned yet but stochastic has just curved and d1 chart red and green tdi lines are pinching looking like they might cross. D1 stochastic has also turned up and price has been rejected before previous resistance. Just gonna wait for LO and trade of the 4hr candle to make sure it's not a bounce. Also been quiet a bit of pull back on the h1 green candles so may just be a small retrace. Good luck.
...read my mind there nods80... (without the stochastic bit...) ... (same with GA, AChf, AU...)
  • #45,213
  • Nov 28, 2014 1:26am Nov 28, 2014 1:26am
Quoting MrAussieFX
{quote} Thanks SJ, Why we should wait for the correct setup and enter only on the close of the Trade Entry Candle ? These charts were taken on the daily TF but it applies to H4 and H1 in the same manner. When we see TSC (Trade setup candle) on higher TF we can always jump onto the lower TF to find the best entry where TMS TDI rules are met. Lot of us (new members to TMS) may have this urgency of entering the trade as soon as we see the bullish or bearish candle. Which puts us in the losing trade. Remember the APB (average price bars) move 3-8 candles...
Great post, really helpful to us newbies.
Intelligence is the ability to adapt to change. Stephen Hawking
  • #45,214
  • Nov 28, 2014 1:30am Nov 28, 2014 1:30am
Quoting griffinssoul
{quote} ...read my mind there nods80... (without the stochastic bit...)
well you know what they say about great minds :nerd:

Question for the experienced ones among us.

Will the black Friday madness have an affect on the markets today? That and the US holiday make wanna just watch and see cos i'm unsure of the possible impact.
Intelligence is the ability to adapt to change. Stephen Hawking
  • #45,215
  • Nov 28, 2014 1:46am Nov 28, 2014 1:46am
Quoting griffinssoul
{quote} ...read my mind there nods80... (without the stochastic bit...) ... (same with GA, AChf, AU...)
I think GBPAUD looks better for a short. D1, H4 look ready to turn and the red candles look good. Also can see A,B,C Pattern forming on D1. Could go as low as 1.83450.
Intelligence is the ability to adapt to change. Stephen Hawking
  • #45,216
  • Nov 28, 2014 1:57am Nov 28, 2014 1:57am
Quoting nods80
{quote} I think GBPAUD looks better for a short. D1, H4 look ready to turn and the red candles look good. Also can see A,B,C Pattern forming on D1. Could go as low as 1.83450.
...looks can be deceiving until there set in stone... LOL!!! I wouldn't have a $%^# clue mate ...LOL!!!
  • #45,217
  • Nov 28, 2014 2:02am Nov 28, 2014 2:02am
Quoting griffinssoul
{quote} ...looks can be deceiving until there set in stone... LOL!!! I wouldn't have a $%^# clue mate ...LOL!!!
The second I posted it pulled back 20 pips. So neither do I.
Intelligence is the ability to adapt to change. Stephen Hawking
  • #45,218
  • Nov 28, 2014 2:06am Nov 28, 2014 2:06am
Quoting nods80
{quote} The second I posted it pulled back 20 pips. So neither do I.
LOL...I'm in... 8pips drawdown ... 12pips up...wow... it came back angry ... bounced off 8439 support... 8466 resistance... sandwich...
  • #45,219
  • Nov 28, 2014 2:11am Nov 28, 2014 2:11am
Quoting griffinssoul
{quote} LOL...I'm in... 8pips drawdown ... 12pips up...wow
wheres your sl?
Intelligence is the ability to adapt to change. Stephen Hawking
  • #45,220
  • Nov 28, 2014 2:18am Nov 28, 2014 2:18am
Quoting nods80
{quote} wheres your sl?
20pips / 30pips SL/TP ... looking to get to BE asap...
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