Disliked{quote} Good morning everyone, Erelation, Here is a picture of our trade on the gbp/usd from yesterday. Just thought I'd post it up so everyone could analyze the trade. Worked out pretty good I thought... sj {image}Ignored
Ray
- #47,602
- Dec 23, 2014 7:12am Dec 23, 2014 7:12am
{quote} Good morning everyone, Erelation, Here is a picture of our trade on the gbp/usd from yesterday. Just thought I'd post it up so everyone could analyze the trade. Worked out pretty good I thought... sj {image}
A trade that need a lot of patience... it took 6 x 4hr candle.....
I am holding now Short for EURNZD with SL at BE+1.
Hope this trade will turn out well too....
Regards
erelation
- #47,603
- Dec 23, 2014 7:24am Dec 23, 2014 7:24am
- | Commercial User | Joined Feb 2008 | 1,909 Posts
{quote} Hi, Your are welcome. eelfranz taught us TMS can be traded in all timeframes. X-Man trades his S3 on H1. LE1 trades M15 using his 10EMA/50EMA/200EMA and 800EMA. I learned from them all over past many years here in FF. my approach remains the same, taking a view from top down and knowing when market is in consolidation, I either wait for the next breakout or go down to lower TF and trade. Look at MN and see how the market traded around 0.8100 {image} Then on D chart we see a Master Candle which, to me is consolidation until I see the next...
This is true
All of these systems traded by other traders. (x-man, Le1, Phx62, Tms on daily chart, etc.)
all intertwined around Eelfranz's Tms. Tms is very flexible & can be traded
on numerous time frames applying the same rules. This system has been
analyzed & traded by some super traders for years. Each of us has put our
twist on the system to make it work even better for us. But overall this system
works and I think it has evolved into something very special.
This system has also taught some very good traders along the way to
become what I call super traders...Some of these traders have become
amazing traders. Their are some traders using Tms here in our small group
of traders that are super traders & it's fun to watch them & learn how they think.
sj
- #47,604
- Dec 23, 2014 7:29am Dec 23, 2014 7:29am
- | Commercial User | Joined Feb 2008 | 1,909 Posts
{quote} Thanks SJ for your reply. I took the GBP/USD after news this morning @ 1.557 and still in currently....see where I end up. Ray
Good...Now would be a good time to take your profits
& run. See my daily chart sitting on s/r.
Congrats
sj
- #47,605
- Dec 23, 2014 7:32am Dec 23, 2014 7:32am
- | Commercial User | Joined Feb 2008 | 1,909 Posts
{quote} Fxray, Good...Now would be a good time to take your profits & run. See my daily chart sitting on s/r. Congrats
Don't be greedy! Learn to take your profits.
Christmas is in 2 days & the "big boys" are gone for
the 4-5 day Christmas holidays...
Take the money & spend it on Christmas presents...
sj
- #47,606
- Dec 23, 2014 7:35am Dec 23, 2014 7:35am
{quote} Fxray, Good...Now would be a good time to take your profits & run. See my daily chart sitting on s/r. Congrats
My 4hr candle closes in 25mins
I sometimes leave half a lot on as what I call 'luck money'
Ray
Update - closed @ 15516
- #47,607
- Dec 23, 2014 7:40am Dec 23, 2014 7:40am
- Joined Aug 2014 | Status: Membership Terminated | 4,544 Posts
{quote} Fxray, Good...Now would be a good time to take your profits & run. See my daily chart sitting on s/r. Congrats
- #47,609
- Dec 23, 2014 7:47am Dec 23, 2014 7:47am
- Joined Aug 2014 | Status: Membership Terminated | 4,544 Posts
{quote} Thanks, Griffinsoul! Trailing stop got hit at 2.00879 (+50 pips). Trading is over for today.
Never think you set your TP too low (there will always be scenarios were the TP could have been bigger) - always think of it as a successful trade otherwise even your wins will becomes loses... a bad state to be in for your mindset...
- #47,610
- Dec 23, 2014 7:52am Dec 23, 2014 7:52am
{quote} Hi SJ, ...yep, this is what i was thinking 10M ago... LOL! Spot-on technically, but also the greed factor over-rides everything - if you are not greedy you will go far in this game...
Ray
- #47,611
- Dec 23, 2014 7:53am Dec 23, 2014 7:53am
- | Joined Aug 2011 | Status: Hm, interesting,,, | 324 Posts
{quote} With my broker, That is the least number of pips that I can trial this pair ..... I'm still learning Emm ... Bear with me ..... I'm observing both BRN ... yet to come near 200 MA
Don't ask me, I have no idea what's going on.
{quote} You might have a second look at that, I was with my first broker for a while before I realised the minimum trail was actually 20 points not pips, it was a bit embarrassing so I didn't tell anyone.
With my broker, all 6 majors carry TSL of 30 points (3 pips), GJ 100 points (10 pips) GA 200 points (20 pips) GN .... 500 points (50 pips) ....
- #47,613
- Dec 23, 2014 8:00am Dec 23, 2014 8:00am
- Joined Aug 2014 | Status: Membership Terminated | 4,544 Posts
{quote} Closed out @15517 - that will do for this year. Your right greed will destroy an acount
- #47,615
- Dec 23, 2014 8:09am Dec 23, 2014 8:09am
- Joined Aug 2014 | Status: Membership Terminated | 4,544 Posts
- #47,616
- Dec 23, 2014 8:15am Dec 23, 2014 8:15am
{quote} ...i really like your 'lucy money' strategy based on partials. Sometimes these will workout an you can gear up to the next TF. Keep going, you are doing great!!!
Update - I see my original 15500 was hit ... but no worries.
- #47,617
- Dec 23, 2014 8:18am Dec 23, 2014 8:18am
- | Commercial User | Joined Feb 2008 | 1,909 Posts
{quote} Congrats fxray - judging from your post above you managed that extremely well... The reason SJ teaches us not to be greedy is because he has no doubt seen many [good] traders go under from it...
You are right
Our platform goes from 1 minute to 5.15.30, 1 hour, 4 hour & daily charts.
But their are systems out their that go: 1 second, 5 second 10 second & 30 second
with very low spreads. That's what the high speed traders are using...
We need to take the 80% of the meat out of a trade & let the top 10% &
bottom 10% go to the high speed traders with different systems.
You only need the 80% of a trade to make a really good living. The other 20%
is just pure risk to us. We don't have the system to compete with them &
luck isn't really a strategy!
sj
- #47,618
- Dec 23, 2014 8:20am Dec 23, 2014 8:20am
Congrats michael_k!!! That was a great trade...
i could see that setting up the question was do i chance a break-out given that i have 80pips for the day and my answer was NO - why - too greedy for the holiday period...
Never think you set your TP too low
(there will always be scenarios were the TP could have been bigger) - always think of it as a successful trade otherwise even your wins will becomes loses... a bad state to be in for your mindset...
- #47,619
- Dec 23, 2014 8:36am Dec 23, 2014 8:36am
- Joined May 2012 | Status: Happy trading n enjoy green pips | 5,322 Posts
Appreciation is the key to wealth and happiness
- #47,620
- Dec 23, 2014 8:40am Dec 23, 2014 8:40am
- Joined Aug 2014 | Status: Membership Terminated | 4,544 Posts
{quote} Griffinssoul, You are right