Disliked{quote} Ben, You will scare yourself just how well you can do just sticking to 4hr charts trading PA in confluence with TMS criteria. Trust me, once you see your account growth you won't care how much your in the market. Look at that last chart Marino posted, thats my favourite pattern and it shows up multiple times per month on the currency pairs I follow on the 4hr TF.Ignored
- #48,942
- Jan 7, 2015 9:33am Jan 7, 2015 9:33am
- | Commercial User | Joined Feb 2008 | 1,909 Posts
{quote} Been trying to ween myself off of intra-day trading, so I'm not glued to the screen all the time. So far, haven't been able to do it. So easy to look at past history and see where a position could be held for a few weeks to net 1000 pips. Harder to hold the position without jumping in/out at every sneeze on lower time frames. Will be trying to do both intra-day and daily chart trading and maybe I'll finally see the benefit of "working less"
Nice meeting you & welcome to Tms.
Tms is very visual. You must train your eye's...
Once you can see the moves, take the trade &
shut down the computer (so your not tempted by
every little twitch). I thought Likica's idea of watching
a movie was a great idea
Welcome to Tms!
sj
I took short on AJ this morning (Asian session) and because of poor trade management have to take a loss on this trade.
1st -35 pips happened when I was at home and during LO the BE's got hit while I was at work.
Kindest regards
1st -35 pips happened when I was at home and during LO the BE's got hit while I was at work.
Kindest regards
- #48,946
- Jan 7, 2015 9:49am Jan 7, 2015 9:49am
- | Commercial User | Joined Feb 2008 | 1,909 Posts
{quote} I do trade H4, actually also M1, M5, M15, M30, H1 as well. I'm trying to work in D1, and hope to eventually go to D1 trading only. I primarily use price action, S/R levels with a few moving averages. I didn't want to post off-topic, but I couldn't send Snarly a PM, so posted here about daily time frame, since I noticed that's all he trades...
A lot of us know pure price action with naked charts, so
no problems...I like the confirmation of Tms. I trade
with price action awareness.
In my mind, the 1 & 5 minute charts are very exciting but
I always lose my ___! I think the 4 hour & daily charts are
the cat's meow...
The reason I have my pm shut off is I get totality blown away by it
and the forum is much easier for me. I hope you don't mind.
Your on the right track
sj
- #48,949
- Jan 7, 2015 9:57am Jan 7, 2015 9:57am
{quote} Greenb, Welcome back...I missed you! How's the weather in the beautiful city of Vancouver, Canada? sj
Thank you thank you,
i missed you too
it's hard to say beautiful vancouver when all the weather gave me is some heavy rain, frigid temperature or fogs with no sun for the whole week hahahah.
but seriously though, i'm suffering from sorethroat, partly i think is from the weather and the other from all the chocolate from Christmas and NY
i heard something on the news yesterday about snowstorm heading down to State today. Hope you're prepared
Greenb
Daniel
- #48,950
- Jan 7, 2015 9:59am Jan 7, 2015 9:59am
- Joined Dec 2010 | Status: Never Stop Learning | 7,323 Posts | Online Now
{quote} Stevepatt, We trade exactly the same way (well almost). We must have had the same teachers
Hi sj;
I've made more progress with my Trading since I've been answering questions from other Traders simply because it makes me really think about what I'm doing.
It's helped me to become far more consistent in how I Trade.
I'd encourage any Trader out there if you see a question being asked try to answer it, even if you don't post your answer, it will help with your Trade Processing Skills.
I think we see the Market in the same way, we might have a different criteria to enter a Trade but we will be entering from the same places and importantly Trading in the same direction LOL.
The only area where we differ is in our Trade Management, once we are in our Trades, but as long as we are both happy with the outcome of our Trading alls well.
I'm still working on finding the best Management for me but it's getting there.
- #48,953
- Jan 7, 2015 10:09am Jan 7, 2015 10:09am
- | Commercial User | Joined Feb 2008 | 1,909 Posts
{quote} Hi sj; I've made more progress with my Trading since I've been answering questions from other Traders simply because it makes me really think about what I'm doing. It's helped me to become far more consistent in how I Trade. I'd encourage any Trader out there if you see a question being asked try to answer it, even if you don't post your answer, it will help with your Trade Processing Skills. I think we see the Market in the same way, we might have a different criteria to enter a Trade but we will be entering from the same places and importantly...
I have a funny feeling that your trade management is
better than mine! I do think that one of the big secret's
to trading is trade management.
I would love to learn more about it
sj
- #48,955
- Jan 7, 2015 10:13am Jan 7, 2015 10:13am
- | Commercial User | Joined Feb 2008 | 1,909 Posts
wow..this thread is getting hotter
It's moving very fast which is fun for everyone
Plus you can learn much faster this way...
sj
- #48,956
- Jan 7, 2015 10:35am Jan 7, 2015 10:35am
- Joined Dec 2010 | Status: Never Stop Learning | 7,323 Posts | Online Now
{quote} Steve, I have a funny feeling that your trade management is better than mine! I do think that one of the big secret's to trading is trade management. I would love to learn more about it
Hi sj;
I completely agree with you, the most difficult thing, I find, is not having enough data, from my Trading results, to be able to make the optimum choice of Trade Management
For all I know my best choice could well be Set & Forget.
I try to get 1:Risk/2:Reward from every Trade I take, of course I don't achieve that as an average, my average Return is 0.5R after Winning/Losing/Break Even Trades have been totalled and averaged.
I've found trying to achieve more than 2R consistently is hard to do because of the reduced Daily ADR.
Usually by aiming for 2R I often achieve this before there is any major Correction in the Market.
The other important factor, of course, is getting out of Trades early that aren't doing what you expected when you entered this is another factor I'm struggling with.
