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  • #54,921
  • Mar 14, 2015 8:21am Mar 14, 2015 8:21am
Quoting adamjhdavis
Hi, EJ Friday trades. one 20 pip loser, failed break of Asian high. Two trades during the New York session, break of Asian low just over 40 pips each. Regards Adam {image}
Great understanding of price action and TMS , I took the same looser at LO with another winner on EA
I Have Learned to Take Some Losses to Make Profits
  • #54,922
  • Mar 14, 2015 8:48am Mar 14, 2015 8:48am
After some days demo practice, I decided to trade real for mini size. Small wins and loses but can trade more carefully.
Previous trading week I trade too often, total 21 trades.(14 win/4 lose/3 holding)
1. E/U: 5 trades all win got about 90 pips (profit from +2 ~32 pips most on 20 pips). Only got few pips in such a big bearish week. mainly trade on H1 TF. almost every price shock(APB color change/into PAC...) made me close. Should be better if trade on H4.
2. U/J: 8 trades (7 win 1 lose but only got 35 pips). many trades were added like pyramid. few green pips were because I waited for a long time .Bad trades with no TMS rules no stop loss rules, I almost lose patience on this.
3. other trades focus on gold , E/J ,G/U, N/U ... best win on E/J for 65 pips. biggest lose on U/C for 70 pips.
Lesson learn:
1.No strict rules for entry/exit, SL/TP. when H1 exit signal comes , if I think H4 will cover it, of course I lose. if I just exit, it must a false signal... oh my god.
2.Less experience on TMS. look back to study more.
3.Too tied trading on H1 TF , try to trade H4 next week.
  • #54,923
  • Mar 14, 2015 10:54am Mar 14, 2015 10:54am
Hello,
Just as a my small contribution to this thread I am posting my analysis for next week trading.
They are simple but effective and hopefully will help someone in making correct decision in next trading week.
GBPAUD will be still in downtrend as it is in channel and probably will meet 61.8 Fib and bounce from there.
Also if someone missed it AUDJPN on monthly is starting uptrend and I would rather think to trade this way from now on even on 4H candles.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GBPAUDDaily.png Size: 47 KB
Click to Enlarge Name: AUDJPYMonthly.png Size: 75 KB
On the collision course with 90/90/90 rule
  • #54,924
  • Mar 14, 2015 11:36am Mar 14, 2015 11:36am
Quoting emmanuel7788
{quote} Hi GG, I don't think the DST has anything to do when you do not use the pivot levels. Can you confirm the following so that I can set up the CM parameters and post later. I will need to test them next week when market open. - what is your broker server time? - the chart timeframe of your trades which you use CM. - which currency pairs? thanks regards,

Hey Emmanuel

My broker server time is GMT +3 (Fxprimus, I stay in the UK)
I only ever use it on the 4H and Daily TF (80% Daily)
I trade
Eur-Gbp
Eur-Usd
Gbp-Usd
Gbp-Nzd
Gbp-Aud
Aud-Usd

Cheers Em, Have a good weekend. GG
  • #54,925
  • Mar 14, 2015 4:39pm Mar 14, 2015 4:39pm
Quoting emmanuel7788
{quote} Hi GG, I don't think the DST has anything to do when you do not use the pivot levels. Can you confirm the following so that I can set up the CM parameters and post later. I will need to test them next week when market open. - what is your broker server time? - the chart timeframe of your trades which you use CM. - which currency pairs? thanks regards,
Emmanuel, SJ, ZeF, and all those who trade H4:
- What is your standard SL?
- Do you take a better entry on 1H?

I want to reduce my SL on 4H, because sometimes it is too big, and I'd like to know different approaches.

Thank you very much in advance.
Had to be me. Someone else might have gotten it wrong.
  • #54,926
  • Mar 14, 2015 4:54pm Mar 14, 2015 4:54pm
Quoting mordin
{quote} Emmanuel, SJ, ZeF, and all those who trade H4: - What is your standard SL? - Do you take a better entry on 1H? I want to reduce my SL on 4H, because sometimes it is too big, and I'd like to know different approaches. Thank you very much in advance.
Hi Mordin,

Sorry to just jump in but I saw your question and thought I'd give you my opinion as I spent a lot of time testing and pondering the same thing.

Multi time frame analysis is the key, find a trade on the 4H and then drill down to the 1H or even the 15M.

This is what I do, use TMS, APB and PASR get in on the 15M with a SL of around 20 pips and build it from there.

Of course time is critical, you have to have time to look at your charts which is not always possible if you have a full time job.

I like to use the Asian high and low also to determine entries. This has been very good to me with the euro yen in recent months.

The chart below is a 4H chart with my two trades at around 40 pips each took on the 15M. You could have taken the first one with little risk and let it run to over 100 pips giving you a R:R of 5:1. Its important you stick to your own trading plan.

Regards

Adam
https://charts.mql5.com/7/266/eurjpy...trader-ltd.png
  • #54,927
  • Mar 14, 2015 7:50pm Mar 14, 2015 7:50pm
Quoting stanvy
{quote} totally agree with you emm on the mindset thingy, if you're serious about trading, you must treat it as a business. i will find my entry point on h1 after confirming the setup on w1,d1 and h4 chart though
stanvy hello, I was the first to follow you into your account from 1.400% know that uses the TMS in a particular way, would you share it?
  • #54,928
  • Mar 14, 2015 8:04pm Mar 14, 2015 8:04pm
I had 1 loss and 1 recovered win on Friday.

EA Losing Buy Trade LO session

Attached Image (click to enlarge)
Click to Enlarge Name: EA Buy LO Loss entry.png Size: 203 KB



GJ Sell Trade
Attached Image (click to enlarge)
Click to Enlarge Name: GJ Sell trade PT closed.png Size: 157 KB


Kindest Regards
  • #54,929
  • Mar 14, 2015 8:54pm Mar 14, 2015 8:54pm
Quoting mordin
{quote} Emmanuel, SJ, ZeF, and all those who trade H4: - What is your standard SL? - Do you take a better entry on 1H? I want to reduce my SL on 4H, because sometimes it is too big, and I'd like to know different approaches. Thank you very much in advance.
Quoting adamjhdavis
{quote} Hi Mordin, Sorry to just jump in but I saw your question and thought I'd give you my opinion as I spent a lot of time testing and pondering the same thing. Multi time frame analysis is the key, find a trade on the 4H and then drill down to the 1H or even the 15M. This is what I do, use TMS, APB and PASR get in on the 15M with a SL of around 20 pips and build it from there. Of course time is critical, you have to have time to look at your charts which is not always possible if you have a full time job. I like to use the Asian high and low...

Hi Mordin,

Adam shared his view how using Multi-TimeFrame Analysis MTFA approach can get you into the market with higher probability. MTFA is a proven approach used by many traders.

Q1: What is standard SL?
A1: there is no such thing as a standard SL when trading TMS 5-Method. You need to know the volatility of the currency pairs your trade. For a H1 trade with 50pips SL and a H4 trade with 100pips SL, and a D1 trade with 250pips as SL, the risk are the same when you use position sizing.

Q2: Do you take a better entry on 1H? I want to reduce my SL on 4H,..?
A2: Yes, in most cases, after we see a H4 reversal trade setup, we can go down to the lower TF like H1 to pick an entry during the retracement. But in doing this, we also missed some good moves when the retracement did not happen. Always keep in mind that a H4 reversal can run 3 to 8 candles. You can still pick an entry after the H4 reversal is confirmed and there is consolidation and we see a TDI bounce type of setup. This is when we can entret on candle #3, #4, #5.... depends on the range of the trading period. We do not have to enter on reversal candle #1 and #2.

FOREX VOLATILITY:

Currency pairs have different volatility ranges at different hour of the day and also different day of the week.
You can check and compare the various currency pairs volatility here:
https://www.mataf.net/en/tools/02-01-volatility

Look at all the GBPJPY, GBPAUD, GBPNZD and GBPCAD pairs and compare their H1 and D volatility. Can you trade with 50pips SL?
Compare EURUSD, GBPUSD and EURGBP.

RISK MANAGEMENT and POSITION SIZING:

Some basic knowledge available online free here below.

Position Sizing:The Way to Profit in Forex
http://www.investopedia.com/articles...zing-forex.asp

Calculating Position Size

http://www.babypips.com/school/under...ion-sizes.html

http://www.fxstreet.com/education/le...position-size/

Take some time and learn these.

Another thing to consider is, you do not need to trade with Single Entry / Single Exit. There are other entry and exit options which will help you achieve better results when you want to be in this business in long term.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #54,930
  • Mar 14, 2015 11:34pm Mar 14, 2015 11:34pm
Quoting Given1988
{quote} stanvy hello, I was the first to follow you into your account from 1.400% know that uses the TMS in a particular way, would you share it?
hi Given1988, thanks for subscribing to me, there's no secret, follow what emmanuel teaches, i see mostly on D1 and H4, the TDI angle is what i will look for before, if it valid, i'll look for PASR
  • #54,931
  • Mar 15, 2015 5:25am Mar 15, 2015 5:25am
Quoting stanvy
{quote} hi Given1988, thanks for subscribing to me, there's no secret, follow what emmanuel teaches, i see mostly on D1 and H4, the TDI angle is what i will look for before, if it valid, i'll look for PASR
thanks your patience stanvy, but i have 1 answer for you, when you decide to close a position? where you calculation TP end SL?

thank guys for your patience
  • #54,932
  • Mar 15, 2015 10:15am Mar 15, 2015 10:15am
Hi all,

I've been scoping this forum out for a few weeks now and putting everything I've been reading into practice with encouraging results. I started demo trading last year after taking an online class for beginner traders. Had a few wins here and there but mainly came up short by losing too much. This srategy however is so simple and easy to understand and I've been winning a lot more trades thanks to this. I've still had losses, but afterwards i've gone back to my charts and analysed where I went wrong and how I could improve. Most of the time my losses were down to poor discipline. I've post mortemed losing trades to find out i've broken my own trading rules (not waiting for a candle to close outside of the PAC etc), itchy fingers and all that. At the moment I've been practicing all of my trades on H1 TF and I switch between all the major pairs to try and find a good setup.

My next goal is to disciple myself when it comes to SL and TP and to fully understand position sizing. Once I'm confident enough I plan to go Live.

Quoting MrAussieFX
I had 1 loss and 1 recovered win on Friday. EA Losing Buy Trade LO session .GJ Sell Trade. Kindest Regards
I've saved a lot of images from you that I can look back on from time to time. Really informative posts! Just a quick question. What's that white line in your TDI?
  • #54,933
  • Mar 15, 2015 2:37pm Mar 15, 2015 2:37pm
Quoting MrAussieFX
I had 1 loss and 1 recovered win on Friday. EA Losing Buy Trade LO session {image} GJ Sell Trade {image} Kindest Regards
Mr. AussieFX. Thanks for all your work here. I am grateful for all your contributions. Do you think the attached chart may have helped and prevent you from entering long on the EA trade? Anytime there is a bollinger squeeze, more often than not there is a fake initial direction. notice that the red dots remained until price action clearly went down and green dots appeared.

Per the 30 min chart, there was also strong resistance where you were buying into.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: example.PNG Size: 108 KB
Click to Enlarge Name: EA 30.PNG Size: 86 KB
  • #54,934
  • Mar 15, 2015 3:03pm Mar 15, 2015 3:03pm
Quoting MrAussieFX
I had 1 loss EA, Losing Buy Trade LO session Kindest Regards
Here is another reason

Attached Image (click to enlarge)
Click to Enlarge Name: 16-03-2015 6-01-04 AM.png Size: 42 KB
It takes a lot for me to IGNORE you, but you can try.
  • #54,935
  • Mar 15, 2015 5:39pm Mar 15, 2015 5:39pm
[quote=Ballistical;8136236]2015 Week 11 - Trade Summary: 4 trades in total: - 1 win - 0 BE - 3 Losses

Great to see your summary again and see what I possibly missed out on, Keep up the good work.
Best of luck for next week.
  • #54,936
  • Mar 15, 2015 5:53pm Mar 15, 2015 5:53pm
Quoting Erebus
{quote} Here is another reason {image}
I agree, during back testing of various entry set up's I have noticed especially around London open that more failed trades happen on Mondays, not sure why but it happens.
  • #54,937
  • Mar 15, 2015 6:39pm Mar 15, 2015 6:39pm
Quoting Phx62
I traded London session GJ H1 this week. There were some nice setups and more pips gained that normal. Due to the number of pips gained on each trade, I allowed the TP to be hit instead of waiting for a closed candle in the opposite color. A nice easy trading week. Every trade was taken per TMS rules, 1st or 2nd candle entry, cross of TDI, etc. and also per my trading plan rules. {image}
Hi Phx62,

I noticed that your LO (where the dashed green rectangle) is at 7am GMT instead of 8am GMT?

Plus, ever since I've read the Phx62 study I'm always curious as to how you can have your chart zoomed into the APB candles like that and yet still see the whole 5 days? I only manage to see 3 and a half days on my 24" or 32" monitor. Did you scale it somehow? As I prefer to see my APB candles zoomed in like yours but then I won't be able to see the previous 5 days.

Thank you in advance.
  • #54,938
  • Mar 15, 2015 6:52pm Mar 15, 2015 6:52pm
Quoting Given1988
{quote} thanks your patience stanvy, but i have 1 answer for you, when you decide to close a position? where you calculation TP end SL? thank guys for your patience

Hi Given,

My tp and sl is depends, if i'm scalping, normally on H4 chart, i'll have a fix SL of 50 pips, and TP will be around 100-200 pips, depending on fibo level, I'll also cut it manually if TDI had given me an opposite trade signal.

For position trading, i'll put SL on D high, for example now D1 chart shows high on 184.0, TP will depends on the price on where it goes. I normally will not put any TP, instead move my SL when it is profitable, such as SL +100, SL+200 pips, etc

hope this is clear to you.
  • #54,939
  • Mar 15, 2015 11:51pm Mar 15, 2015 11:51pm
Quoting Shadownet
{quote} Hi Phx62, I noticed that your LO (where the dashed green rectangle) is at 7am GMT instead of 8am GMT? Plus, ever since I've read the Phx62 study I'm always curious as to how you can have your chart zoomed into the APB candles like that and yet still see the whole 5 days? I only manage to see 3 and a half days on my 24" or 32" monitor. Did you scale it somehow? As I prefer to see my APB candles zoomed in like yours but then I won't be able to see the previous 5 days. Thank you in advance.
Shadownet
Yes, my London boxes are off by one hour due to the US changing to DST last week but Arizona does not move to DST. When London moves to DST in 2 weeks, that will change again. I just have not changed them. I know they are off by 1 hour when I trade. For the purposes of posting in the next couple of weeks, I will change them so no one gets confused.
As far as my charts go, I have them zoomed back one click from the max and I watch them on a 24" monitor. Not sure why yours don't look the same. In the properties section of the charts (hit F8 & open properties, then open the common tab), neither box is checked in the scaling section of the common tab. You might check that and see of you have one of the scale boxes checked.
  • #54,940
  • Mar 16, 2015 3:11am Mar 16, 2015 3:11am
Quoting Zer0UK
Hi all, I've been scoping this forum out for a few weeks now and putting everything I've been reading into practice with encouraging results. I started demo trading last year after taking an online class for beginner traders. Had a few wins here and there but mainly came up short by losing too much. This srategy however is so simple and easy to understand and I've been winning a lot more trades thanks to this. I've still had losses, but afterwards i've gone back to my charts and analysed where I went wrong and how I could improve. Most of the time...
Appreciate your time and comment Zer0UK,

The white line is 20ema on TDI, I'm sorry if that confuses you that was there how Daily trades align with this MA on TDI. You don't need it. Simple TDI is more than enough.

I'm glad that you found TMS and it is helping you in making your trading better and consistently profitable. You mentioned that you have overcome many problems in your trading that is remarkable achievement, I see you still have one problem which you mentioned in your post above. If I may, I would like you to

1. Pick the right trading session you can trade (LO is smooth, volatile and presents less fake PA movement)
2. Pick yourself 2 pairs with decent ADR that moves in LO session
3. Just trade these 2 pairs on Demo following the TMS rules for next 9 months, if you can. And you will see by the end of the year what you have mastered.

Quoting awcharts
{quote} Mr. AussieFX. Thanks for all your work here. I am grateful for all your contributions. Do you think the attached chart may have helped and prevent you from entering long on the EA trade? Anytime there is a bollinger squeeze, more often than not there is a fake initial direction. notice that the red dots remained until price action clearly went down and green dots appeared. Per the 30 min chart, there was also strong resistance where you were buying into. {image} {image}
awcharts, thanks for your comment. I wasn't expecting much movement on EA on Friday night (AEST) and was looking for Asian Break and prev day 50% fib break for little retracement. I would have exited the trade early but I wasn't monitoring the trade and also could have entered short again on EA but on that instance I was already in the GJ sell trade, I believe.

I trade 1 pair at a time, keeps me focused. I don't use the indicators shown on your chart and with due respect have no intention to add any more as simple/clean charts can help me see more of the PA.

Quoting Erebus
{quote} Here is another reason {image}
Hi Erebus, great to hear from you. I believe it was Friday night LO trade (AEST) and not Monday.

Kindest regards
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