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TMS for M30 charts

  • #9,241
  • Oct 20, 2015 11:53am Oct 20, 2015 11:53am
Quoting Davit
{quote} No I may exit way earlier because I may be wrong on PA but my emergency SL is 500 Basic concept is treating a trade not singular but a batch together making 1 unit.When I add to position means I am still trading it as 1 unit and that 1 unit could have 5 or 10 trades.
k thx alot
  • #9,242
  • Oct 20, 2015 11:59am Oct 20, 2015 11:59am
It actually a deeper subject.
How does one measure success.
I trade in units.
Monthly I unit includes 4 weekly unit
Weekly includes several batch trades average of 50trades
Daily 10-15 trades

You may lose 1 weekly unit but win 3 weekly ones making your monthly unit a +positive gain.
When you approach like this your individual trades becomes less important.Focus is on bigger picture.
This way you approach trading from looking down from airplane instead of top of coke battle
Single or multiple loses means little because approach is grouping in units.This way it takes the psychological difficulty most people have about taking a loss.I took 17 losses this month so far and close to 30% gain.Its not about single trade.
That's why TMS30 should be measured on 100+trades.
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In trading, you have to be defensive and aggressive at the same time
  • #9,243
  • Oct 20, 2015 12:40pm Oct 20, 2015 12:40pm
Quoting Davit
{quote} Classy If I was going to teach trading to anyone seriously I would start with eliminate as much as you can. Its like hiking a mountain.More weight you carry quicker you get tired. Get rid of everything that you can trade without including MA's... Anyway trading is subjective.What works for you may not appear right for others including what I wrote above.... Green pips friend!
you ARE CORRECT MATE . many many thanks for care and advice.i always follow your words..definitely i will remember what you said .i wast many time for new indi/temp..it is not good for trade....please always do..advice what you like..it is really great to have you as mate and other great TMS 30..of this thread ..
Say something meaningful or Silence!!
  • #9,244
  • Oct 20, 2015 6:36pm Oct 20, 2015 6:36pm
Quoting Davit
{quote} Closed my UC at pivot +228pips not bad in 10hrs of trading notice how PA just stalled at 38R then turned around going back to pivot {image}
nice! in time, I am hoping to be able to load up like you and GS. I do like your pivot indicator.
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  • #9,245
  • Oct 20, 2015 6:54pm Oct 20, 2015 6:54pm
Quoting Davit
{quote} My DD is very reasonable in contrast of equity.Its all about money management and trade management.I reached my RR and stopped adding.Simple as that. I am glad its not your cup of tea because I am a coffee drinker! +380pips in 2days of trading {image}
Hi Davit,

very nice result with almost no draw down. Please can you tell this 380 pips represent what % of gain on your equity. ?

Thanks

MK
  • #9,246
  • Oct 20, 2015 6:56pm Oct 20, 2015 6:56pm
Quoting Davit
It actually a deeper subject. How does one measure success. I trade in units. Monthly I unit includes 4 weekly unit Weekly includes several batch trades average of 50trades Daily 10-15 trades You may lose 1 weekly unit but win 3 weekly ones making your monthly unit a +positive gain. When you approach like this your individual trades becomes less important.Focus is on bigger picture. This way you approach trading from looking down from airplane instead of top of coke battle Single or multiple loses means little because approach is grouping in units.This...
Hi Davit,

As you do multiple entry, How do you calculate size of lot in such trades? May be this cab help us to understand this way of trading against single entry.

Thanks

MK
  • #9,247
  • Oct 20, 2015 7:55pm Oct 20, 2015 7:55pm
G'day to all,
I am sure we all have a good day everyday whether increase our equity curve or gaining more experience (if you learnt from it). We are lucky to have a numbers of super traders in this thread who we can learn from like Davit, Lastingwell, Griffinssoul, Omonisha, The Scorps, Pipsninja and also Phx62 and Emmanuel from Trading Made Simple thread. Do more study to build confidence if you are not there yet.
There are a few key points to remember:
- Only trade when TDI>32 for buy, TDI<68 for sell (another word, avoid entering a trade in overbought/oversold area) or you will suffer big draw down.
- Do not add more indicator than what presented in 1st post as it will confuse and distract you from price actions.
- when price is stepping up and TDI also making higher high and higher low and then TDI forming a bearish divergence, be aware that lots of times, 1st attempt will have retrace to create lower high. Vice vera for a buy senario (bullish divergence). This is what I called typical price actions.

Be patient to wait for a good set up.

It s easier to look at my GA chart for your visual.
Attached Image (click to enlarge)
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Appreciation is the key to wealth and happiness
  • #9,248
  • Oct 20, 2015 8:17pm Oct 20, 2015 8:17pm
Just to inspire... (It s my trading from yesterday 20th Oct, I don't share my trading curve nor my results). Don't ask more as I won't say more. So getting at least 1000 greenies a week should be your cup of tea or like me, its my cup of coffee
Attached Image
Appreciation is the key to wealth and happiness
  • #9,249
  • Oct 20, 2015 8:37pm Oct 20, 2015 8:37pm
Quoting likica
G'day to all, I am sure we all have a good day everyday whether increase our equity curve or gaining more experience (if you learnt from it). We are lucky to have a numbers of super traders in this thread who we can learn from like Davit, Lastingwell, Griffinssoul, Omonisha, The Scorps, Pipsninja and also Phx62 and Emmanuel from Trading Made Simple thread. Do more study to build confidence if you are not there yet. There are a few key points to remember: - Only trade when TDI>32 for buy, TDI<68 for sell (another word, avoid entering a trade in overbought/oversold...
Thanks Likica,
This helps alot. I used to just trade divergence when they appear and that got me in early quite often.
I will start practicing and short after PA has a lower high after a bearish divergence and long when PA has a higher low after bullish divergence.
  • #9,250
  • Oct 20, 2015 11:06pm Oct 20, 2015 11:06pm
Quoting likica
Just to inspire... (It s my trading from yesterday 20th Oct, I don't share my trading curve nor my results). Don't ask more as I won't say more. So getting at least 1000 greenies a week should be your cup of tea or like me, its my cup of coffee {image}
Wonderful results
Allow me to pour a glass of wine for you
Attached Image
In trading, you have to be defensive and aggressive at the same time
  • #9,251
  • Oct 20, 2015 11:09pm Oct 20, 2015 11:09pm
Quoting mkfx
{quote} Hi Davit, As you do multiple entry, How do you calculate size of lot in such trades? May be this cab help us to understand this way of trading against single entry. Thanks MK
size is how comfortable you are.If you cringe and worry price goes against you 20pips then your position is too big.
I am a big fan of small positions.This helps seeing the big picture.
In trading, you have to be defensive and aggressive at the same time
  • #9,252
  • Oct 20, 2015 11:15pm Oct 20, 2015 11:15pm
Quoting mkfx
{quote} Hi Davit, very nice result with almost no draw down. Please can you tell this 380 pips represent what % of gain on your equity. ? Thanks MK
4.3%
In trading, you have to be defensive and aggressive at the same time
  • #9,253
  • Oct 20, 2015 11:17pm Oct 20, 2015 11:17pm
Quoting likica
G'day to all, I am sure we all have a good day everyday whether increase our equity curve or gaining more experience (if you learnt from it). We are lucky to have a numbers of super traders in this thread who we can learn from like Davit, Lastingwell, Griffinssoul, Omonisha, The Scorps, Pipsninja and also Phx62 and Emmanuel from Trading Made Simple thread. Do more study to build confidence if you are not there yet. There are a few key points to remember: - Only trade when TDI>32 for buy, TDI<68 for sell (another word, avoid entering a trade in overbought/oversold...
100% agree

To me the game is not about making money but how not to lose money.Once you figure how not to lose money then profits take care of themselves.
I recommend every serious trader to read all Market Wizards books.These interviews are from real traders and not book writers.
Point you get from them all is risk management always.That's what pro's think.When LK says "wait for good opportunity" what she is really saying don't get in early and lose money again focus is about not losing money by applying sound principals contained on this system.
regards
In trading, you have to be defensive and aggressive at the same time
  • #9,254
  • Oct 20, 2015 11:18pm Oct 20, 2015 11:18pm
Quoting likica
G'day to all, I am sure we all have a good day everyday whether increase our equity curve or gaining more experience (if you learnt from it). We are lucky to have a numbers of super traders in this thread who we can learn from like Davit, Lastingwell, Griffinssoul, Omonisha, The Scorps, Pipsninja and also Phx62 and Emmanuel from Trading Made Simple thread. Do more study to build confidence if you are not there yet. There are a few key points to remember: - Only trade when TDI>32 for buy, TDI<68 for sell (another word, avoid entering a trade in overbought/oversold...
Hi Likica, i see your broker offer very low spread, what's your broker ?
  • #9,255
  • Oct 20, 2015 11:24pm Oct 20, 2015 11:24pm
Quoting Davit
{quote} Wonderful results Allow me to pour a glass of wine for you {image}
Thanks Davit. cheers
Appreciation is the key to wealth and happiness
  • #9,256
  • Oct 20, 2015 11:25pm Oct 20, 2015 11:25pm
Quoting longbk
{quote} Hi Likica, i see your broker offer very low spread, what's your broker ?
I have a few, found FXCM & ICMarkets are offering good spreads
Appreciation is the key to wealth and happiness
  • #9,257
  • Oct 20, 2015 11:32pm Oct 20, 2015 11:32pm
AU getting close to weekly pivot at 7283
Look left tough zone to break higher.
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSDM30.png Size: 45 KB
In trading, you have to be defensive and aggressive at the same time
  • #9,258
  • Oct 20, 2015 11:38pm Oct 20, 2015 11:38pm
Quoting likica
{quote} Thanks Davit. cheers
you welcome! Love your new avatar.Little more left?
In trading, you have to be defensive and aggressive at the same time
  • #9,259
  • Oct 20, 2015 11:50pm Oct 20, 2015 11:50pm
Quoting likica
Just to inspire... (It s my trading from yesterday 20th Oct, I don't share my trading curve nor my results). Don't ask more as I won't say more. So getting at least 1000 greenies a week should be your cup of tea or like me, its my cup of coffee {image}
Hi Likica, U still use 50 -50 pips for SL and TP ? and how risk per trade for yours very good result? and how much maximum drawdown for your money management?
  • #9,260
  • Edited 1:21am Oct 21, 2015 12:51am | Edited 1:21am
Quoting longbk
{quote} Hi Likica, U still use 50 -50 pips for SL and TP ? and how risk per trade for yours very good result? and how much maximum drawdown for your money management?
Yes, I usually have 50/50 for intial SL/PT but on sometimes I left my trades overnight I put SL 15pips above/below last swing high/low. I exit my trade when market changes or adjust SL/ PT as trades in progress if I monitor my trade. My max DD is usually 5% of total open trades (too high for some of you and I don't recommend new traders to risk that much).
Focus on 1 or 2 pairs is good enough...Sometimes, no trade is better if your setup does not show up or the set up does not meet your rules.
Appreciation is the key to wealth and happiness
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