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Trading Made Simple

  • #46,561
  • Dec 12, 2014 4:29am Dec 12, 2014 4:29am
Quoting Gizzledonk
Here's a couple I just opened, very unsure of tp on USDJPY, 'have to see how it goes, USDCHF is tidy under large round number for sl. but not sure where tp is as it's counter trend (according to my rules) and quite spiky. Edit: I was going to open two positions on one pair and then decided to split it between two pairs that are moving quite the same {image} {image}
Hi GD

TP is often the hardest part to know. The real fact is we dont know the optimum tp price.

So, what I generally do is, first know what s/l im going to apply (based upon the time-frame im looking at) then I target 1:1 for t/p, and once that target is reached, then you have more options to pick from a) take full profit b) take partial c) adjust s/l to b/e etc
.
Any one of those keeps the mind at ease I find
  • #46,562
  • Dec 12, 2014 4:31am Dec 12, 2014 4:31am
Quoting 0Bid
Weekend education .. Price action https://www.youtube.com/watch?v=WsUGEh-qdYk
the weekend is a wonderful time to relax a little bit and take some days off trading .
Here in middle europe we have a totally bad weather .. what keeps us inside the warm rooms .

And Xmas is coming soon .. a really goood time to view vids, do backtesting .. and try to work on the skills is the january !
Sloppy markets in the beginning of the year will bring us time enough for watching all that stuff..
A 3 hours video for my holy weekend?? Not fore me ..

I ll watch such stuff in january , my weekends are for cleaning my mind and enjoy a little my life.
May be itīs also a kind of inspriation for you .. a day off trading is much better than unrelaxed in front of screen .
Risiko birgt immer auch die Chance.
  • #46,563
  • Dec 12, 2014 4:40am Dec 12, 2014 4:40am
Quoting Sesamstrasse
{quote} the weekend is a wonderful time to relax a little bit and take some days off trading . Here in middle europe we have a totally bad weather .. what keeps us inside the warm rooms . And Xmas is coming soon .. a really goood time to view vids, do backtesting .. and try to work on the skills is the january ! Sloppy markets in the beginning of the year will bring us time enough for watching all that stuff.. A 3 hours video for my holy weekend?? Not fore me .. I ll watch such stuff in january , my weekends are for cleaning my mind and enjoy a...


I think I might be far to immature for this forum. The partner is away for the weekend visiting her family in Liverpool so i was planning on saving the world from total annihilation on the xbox.
Intelligence is the ability to adapt to change. Stephen Hawking
  • #46,564
  • Dec 12, 2014 4:44am Dec 12, 2014 4:44am
Quoting nods80
{quote} I think I might be far to immature for this forum. The partner is away for the weekend visiting her family in Liverpool so i was planning on saving the world from total annihilation on the xbox.
  • #46,565
  • Dec 12, 2014 4:46am Dec 12, 2014 4:46am
Quoting Landline
{quote} Hi GD TP is often the hardest part to know. The real fact is we dont know the optimum tp price. So, what I generally do is, first know what s/l im going to apply (based upon the time-frame im looking at) then I target 1:1 for t/p, and once that target is reached, then you have more options to pick from a) take full profit b) take partial c) adjust s/l to b/e etc . Any one of those keeps the mind at ease I find
Hi there Landline

thanks for the comment, I think I was just being indecisive, which for me is often a clue to make my tp and sl quite conservative as if I'm not confident about the trade maybe something's not right,,,,,

we shall see how it goes.
Don't ask me, I have no idea what's going on.
  • #46,566
  • Dec 12, 2014 4:49am Dec 12, 2014 4:49am
Recently I've been looking at some variations on the TMS system, the system works as it is but I can't help but to meddle with things,
over the past couple of weeks I've been playing with Renko bricks instead of Heiken Ashi, in all other respects the TMS song remains the same.
If anyone has tried this or is interested in playing with it a bit I'd like to hear, if it's too off-beat for the thread I'll take it into pm or another thread.
As I said, TMS is my main trading method and I find it profitable and nice to use so I'm not looking to spoil anything or drag the thread into weird ways.
Attached Image (click to enlarge)
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Don't ask me, I have no idea what's going on.
  • #46,567
  • Dec 12, 2014 4:52am Dec 12, 2014 4:52am
Took GBP/AUD this morning. Then i saw that GBP/JPY is moving much more better, but i didn't have any trades on GJ for last 2-3 weeks, don't know why, so i didn't even notice that movement... So that's the one of the day, when you make mistakes. Was in +45, but didn't lock any profit and in the end - BE trade... That happends. Usually, i lock some profit, but today i thought it still has a room to go (ADR was not reached so i was waiting for another 10-20 pips falling at least) and let that trade breathe... So it breathed deeply until my BE hit

Anyway, this week is one of the best for me. Almost 200 pips collected with no losses at all. Trading EUR/AUD and GBP/AUD only. That shows that trading H1 it's really enough to have 2-3 pairs to trade, especially while learning.
Attached Image (click to enlarge)
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  • #46,568
  • Dec 12, 2014 4:53am Dec 12, 2014 4:53am
Quoting Sesamstrasse
{quote} the weekend is a wonderful time to relax a little bit and take some days off trading . Here in middle europe we have a totally bad weather .. what keeps us inside the warm rooms . And Xmas is coming soon .. a really goood time to view vids, do backtesting .. and try to work on the skills is the january ! Sloppy markets in the beginning of the year will bring us time enough for watching all that stuff.. A 3 hours video for my holy weekend?? Not fore me .. I ll watch such stuff in january , my weekends are for cleaning my mind and enjoy a...
My attention was just to share it and its your choice to watch it at your own free time.
  • #46,569
  • Dec 12, 2014 4:53am Dec 12, 2014 4:53am
Quoting Gizzledonk
{quote} Hi there Landline thanks for the comment, I think I was just being indecisive, which for me is often a clue to make my tp and sl quite conservative as if I'm not confident about the trade maybe something's not right,,,,, we shall see how it goes.
Yep, I know what you mean, trading has a habit of playing with our heads thats for sure lol.

My post with the image attached a little earlier is actually an example of how I personally go about managing a trade once I'm in it which may be of interest to you, which coincidentally is also the UJ pair.

Good luck
  • #46,570
  • Dec 12, 2014 4:55am Dec 12, 2014 4:55am
Quoting toledoFX
Took GBP/AUD this morning. Then i saw that GBP/JPY is moving much more better, but i didn't have any trades on GJ for last 2-3 weeks, don't know why, so i didn't even notice that movement... So that's the one of the day, when you make mistakes. Was in +45, but didn't lock any profit and in the end - BE trade... That happends. Usually, i lock some profit, but today i thought it still has a room to go (ADR was not reached so i was waiting for another 10-20 pips falling at least) and let that trade breathe... So it breathed deeply until my BE hit ...
Great stats toledoFX - forget about everything else... congrats !!!
  • #46,571
  • Dec 12, 2014 4:58am Dec 12, 2014 4:58am
Quoting toledoFX
Took GBP/AUD this morning. Then i saw that GBP/JPY is moving much more better, but i didn't have any trades on GJ for last 2-3 weeks, don't know why, so i didn't even notice that movement... So that's the one of the day, when you make mistakes. Was in +45, but didn't lock any profit and in the end - BE trade... That happends. Usually, i lock some profit, but today i thought it still has a room to go (ADR was not reached so i was waiting for another 10-20 pips falling at least) and let that trade breathe... So it breathed deeply until my BE hit ...

Well done mate.
Intelligence is the ability to adapt to change. Stephen Hawking
  • #46,572
  • Dec 12, 2014 4:58am Dec 12, 2014 4:58am
Quoting nods80
{quote} I was umming and erring to much so moved on.
I dived in feet first curently at +26 and SL set to break even
  • #46,573
  • Dec 12, 2014 5:03am Dec 12, 2014 5:03am
Quoting GrantMcscott
{quote} I dived in feet first curently at +26 and SL set to break even

well done mate, been watching it rise without me. I hope it breaks through the resistance line it keeps tapping.
Intelligence is the ability to adapt to change. Stephen Hawking
  • #46,574
  • Dec 12, 2014 5:18am Dec 12, 2014 5:18am
Quoting griffinssoul
{quote} Great stats toledoFX - forget about everything else... congrats !!!
Quoting nods80
{quote} Well done mate.
Thank you guys! I see you are doing really good too, great progress! Keep going that way
  • #46,575
  • Edited 5:55am Dec 12, 2014 5:22am | Edited 5:55am
Quoting Gizzledonk
Recently I've been looking at some variations on the TMS system, the system works as it is but I can't help but to meddle with things, over the past couple of weeks I've been playing with Renko bricks instead of Heiken Ashi, in all other respects the TMS song remains the same. If anyone has tried this or is interested in playing with it a bit I'd like to hear, if it's too off-beat for the thread I'll take it into pm or another thread. As I said, TMS is my main trading method and I find it profitable and nice to use so I'm not looking to spoil anything...
Hi Gizzledonk, interesting idea but Renko blocks/bricks violate or rather prevent the TMS rules being traded fully (the HA candle is defined differnetly and will not be the same as a brick colour-wise for example). So this variation must be rejected by definition of the TMS rules (not to mention the other signs used by TMS, for example the use of wicks (or lack of them) etc)... perhaps a senior member can add more comments...

EDT: I think the problem is that the TMS rules are married with two things, the HA & TDI - making changes to either will divorce you from TMS as we know it... But, sure you can come up with a similar system with any other combo e.g. Bricks +RSI, Bricks + TDI, HA + CCI etc
  • #46,576
  • Dec 12, 2014 5:45am Dec 12, 2014 5:45am
Quoting griffinssoul
{quote} Hi Gizzledonk, interesting idea but Renko blocks/bricks violate or rather prevent the TMS rules being traded fully (the HA candle is defined differnetly and will not be the same as a brick colour-wise for example). So this variation must be rejected by definition of the TMS rules (not to mention the other signs used by TMS, for example the use of wicks (or lack of them) etc)... perhaps a senior member can add more comments...
Thank you for you comment,

I take your point and probably should have been more detailed, I'm not looking to fill the thread up with this though so I'll see if I get any other comments and see where it goes, if anywhere.

Don't ask me, I have no idea what's going on.
  • #46,577
  • Dec 12, 2014 5:48am Dec 12, 2014 5:48am
Quoting snarlyjack
{quote} Lastingwell, That is excellent advise! Let's start planning for 2015 I see 2 different types of traders here. (1) The traders that are profitable & (2) The traders who are struggling with profitability. Let's post up all the reasons why were not profitable and analyze them! These are some of opinions... (1) Trading the wrong time frames. (2) Trading against the trend. (3) Making high risk trades without a signal. (4) Gambling not trading. (5) Our emotions are out of control. (6) Not understanding the system they are using. (7) Making decisions...
SJ, year 2015 is so near and it's nice to know that you've a plan to assist traders that're unprofitable. That's a great idea. May I wish all traders "Merry Christmas & A Happy New Year".
  • #46,578
  • Dec 12, 2014 5:49am Dec 12, 2014 5:49am
Quoting Landline
{quote} Hi all 1 hour chart attached showing 2nd position added (ref tdi + cc) Both orders locked in profit now. If I was awake earlier I would have added a 3rd at the tdi bounce 4 hours ago...never mind. Anyway, I plan to take 60% at 118 level and continue to let the rest run, converting to the 4 hr chart. This pair may have further long legs yet, either way I'm going to give it a chance to exersise them if it has, in the knowledge that profits are already locked in Cheers - LL {image}
Just closed out 60% a little earlier than planned...reason - PA...the rest is still running, stops adjusted a little tighter
  • #46,579
  • Dec 12, 2014 6:01am Dec 12, 2014 6:01am
Quoting Gizzledonk
{quote} Thank you for you comment, I take your point and probably should have been more detailed, I'm not looking to fill the thread up with this though so I'll see if I get any other comments and see where it goes, if anywhere.
Hi GD

From my perspective, whilst bricks may not strictly adhere to to the original rules, the same could be said for all all the other variations that have occurred over time, such as wave counting etc.

The TMS theme revolves primarily around TDI so far as I can tell, with the objective of keeping things simple as the title suggests, and on that principle alone the bricks have merit I would say, even though it may be slightly tangential to the original idea.

But other views are bound to differ and it would be interesting to hear some I agree, just to see whether there is any mileage in proceeding with further discussion on the topic

Cheers - LL
  • #46,580
  • Dec 12, 2014 6:11am Dec 12, 2014 6:11am
EA long @LO on H1 for 60 green
Attached Image (click to enlarge)
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