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TMS for M30 charts

  • #9,541
  • Oct 28, 2015 10:43am Oct 28, 2015 10:43am
Hi! I'm here for a while with you guys trying to learn and practice more and more but this is my first post. Maybe I should've post a winner trade but wasn't "lucky" (is it an appropriate word in forex? )enough today with my GU long. Stopped out with 327 points.
What would you do? Close the position on the next red APB (closed below DOL, 10SMA, RN + TDI about to cross down) or bigger SL and hold?
I also wanted to thank you guys for the contributions to the TMS method. (sorry for mistakes, english isn't my native language)
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  • #9,542
  • Edited 11:30am Oct 28, 2015 11:15am | Edited 11:30am
Quoting unverzagt
Hi! I'm here for a while with you guys trying to learn and practice more and more but this is my first post. Maybe I should've post a winner trade but wasn't "lucky" (is it an appropriate word in forex? )enough today with my GU long. Stopped out with 327 points. What would you do? Close the position on the next red APB (closed below DOL, 10SMA, RN + TDI about to cross down) or bigger SL and hold? I also wanted to thank you guys for the contributions to the TMS method. (sorry for mistakes, english isn't my native language) {image}
Thanks for your post, there are many things that you need to consider before taking a trade.

1.) What does the higher time frame H4 say about the current trend? Up or down?

2.) How far (pips) can this trade go in my favor?

3.) What is my SL and TP levels? Are they 1:1 or better?

4.) Are there any support or resistance levels that may stop my trade from going in my direction?

5.) Which session does this pair move the most?

6.) Any news that may effect my trade within the next 30 minutes?

7.) Always honor your SL.

Once the answers to the above question are in sync with your trade direction then you may take a trade.
Trading can't be taught but it can be learned
  • #9,543
  • Oct 28, 2015 11:20am Oct 28, 2015 11:20am
I closed all my 4 UC positions +59+47+37+24= +167 pips, it might as well go lower but I am happy with the strong move down and didn't want to get caught in a deep retrace.
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Trading can't be taught but it can be learned
  • #9,544
  • Oct 28, 2015 11:42am Oct 28, 2015 11:42am
Quoting Pipsninja
I closed all my 4 UC positions +59+47+37+24= +167 pips, it might as well go lower but I am happy with the strong move down and didn't want to get caught in a deep retrace. {image}
nice gain in 1hr
In trading, you have to be defensive and aggressive at the same time
  • #9,545
  • Oct 28, 2015 11:45am Oct 28, 2015 11:45am
Quoting Davit
{quote} nice gain in 1hr
Thanks for all your invaluable contribution. Total Davit style pips for today with 2 earlier trades + 274 pips. Very low stress
Trading can't be taught but it can be learned
  • #9,546
  • Oct 28, 2015 11:50am Oct 28, 2015 11:50am
Quoting unverzagt
Hi! I'm here for a while with you guys trying to learn and practice more and more but this is my first post. Maybe I should've post a winner trade but wasn't "lucky" (is it an appropriate word in forex? )enough today with my GU long. Stopped out with 327 points. What would you do? Close the position on the next red APB (closed below DOL, 10SMA, RN + TDI about to cross down) or bigger SL and hold? I also wanted to thank you guys for the contributions to the TMS method. (sorry for mistakes, english isn't my native language) {image}
not clear about your post. -327 points?please use pips terminology because its specific to forex.
My guess is -32 pips
GU long is the right trade but your timing is off.notice 53 RN? S/R? well and Feds day.
Practice on demo until you can take trades that confirm system rules plus what Pninja has said.
In trading, you have to be defensive and aggressive at the same time
  • #9,547
  • Oct 28, 2015 11:51am Oct 28, 2015 11:51am
Quoting Davit
{quote} Hi A Once Feds reiterate IR unchanged the Euro will go up.I think today Yellen will talk down the USD strongly.They simply can't afford high USD while ECB and others are in cut mode.Recent numbers on US economy has been all red including consumer confidence.Last thing they want is destroy that confidence even more by IR hike. Green pips
Great, its good to have the confirmation from your fundamental view. I am starting to pay attention to just a few pairs and load up when I am more confident on the direction. I think its much better as my little brain cant remember what all the indicators are telling me from all the different pairs.
  • #9,548
  • Oct 28, 2015 12:06pm Oct 28, 2015 12:06pm
Hi Traders,

EURCAD H1 Partial close and Set SL to Break even Plus.

Attached Image (click to enlarge)
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GBPCAD H1 Enter when price fail to break previous Resistance level.

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I am a new born Baby in Forex so ideas and Suggestion are welcome.

Thank You.
$
Newbie
  • #9,549
  • Oct 28, 2015 12:17pm Oct 28, 2015 12:17pm
Thank you Pipsninja and Davit. I'm demoing only right now, and yes I meant 32 pips. That was my SL. I noticed the 53 RN and the setup candle closed above it. I thought it could work out.
Yeah I think timing wasn't the best... And of course I have to learn to be more patient.
  • #9,550
  • Oct 28, 2015 12:18pm Oct 28, 2015 12:18pm
Quoting shad4u2
Hi Traders, EURCAD H1 Partial close and Set SL to Break even Plus. {image} GBPCAD H1 Enter when price fail to break previous Resistance level. {image} I am a new born Baby in Forex so ideas and Suggestion are welcome. Thank You. $
Welcome to TMS30
My best advise is don't jump from system to system from indicator to indicator.
Choose a system that has track record like TMS30 and master it.Learn everything you can.Lots of insightful posts here.You will have losing trades but don't let that discourage you as long as your winners are more then losers you will be fine.
Don't let -20 become -500 or opposite don't get out of winning trade at 20 when 500 pips is still in the works.In basic trading your losers must be smaller then your winners.Most retail traders fail because they let losers run and cut winners short.
Work work and do more work.Diligence pays off and laziness fails.
Regards

Unrelated noticed you are from Saudi Arabia
Interesting article on oil
Saudi Arabia to run out of cash in less than 5 years
In trading, you have to be defensive and aggressive at the same time
  • #9,551
  • Oct 28, 2015 12:25pm Oct 28, 2015 12:25pm
Still UC shorts going.None closed
In trading, you have to be defensive and aggressive at the same time
  • #9,552
  • Oct 28, 2015 12:29pm Oct 28, 2015 12:29pm
Quoting Pipsninja
{quote} Thanks for all your invaluable contribution. Total Davit style pips for today with 2 earlier trades + 274 pips. Very low stress
You welcome friend
Green pips
Attached Image
In trading, you have to be defensive and aggressive at the same time
  • #9,553
  • Oct 28, 2015 12:37pm Oct 28, 2015 12:37pm
Can't wait for Yellen...love her
Attached Image
In trading, you have to be defensive and aggressive at the same time
  • #9,554
  • Oct 28, 2015 12:46pm Oct 28, 2015 12:46pm
Quoting Davit
Still UC shorts going.None closed
It reached pivot .
Trading can't be taught but it can be learned
  • #9,555
  • Oct 28, 2015 12:46pm Oct 28, 2015 12:46pm
Quoting Davit
{quote} Welcome to TMS30 My best advise is don't jump from system to system from indicator to indicator. Choose a system that has track record like TMS30 and master it.Learn everything you can.Lots of insightful posts here.You will have losing trades but don't let that discourage you as long as your winners are more then losers you will be fine. Don't let -20 become -500 or opposite don't get out of winning trade at 20 when 500 pips is still in the works.In basic trading your losers must be smaller then your winners.Most retail traders fail because...
Thank You so much for your Inspiration. I am really fail in my trade management like you said Don't let -20 become -500 or opposite don't get out of winning trade at 20 when 500 pips is still in the works. My stops are well but I am little conservative in my TP. After getting 20 or more pips I close my half or 3/4 of position and move SL to Break even plus and let the trade run, But many Time I noticed my exit are too early.Hope I will find the best way in this regard.

Thank You.
$
Newbie
  • #9,556
  • Oct 28, 2015 12:54pm Oct 28, 2015 12:54pm
Mice jumping ship now and my broker increasing the spread
In trading, you have to be defensive and aggressive at the same time
  • #9,557
  • Oct 28, 2015 1:22pm Oct 28, 2015 1:22pm
Quoting omonisha
EURUSD-D1 {image}
EURUSD-D1...Got it on the retest

AUDUSD-D1... PB IB Break
Attached Image(s) (click to enlarge)
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Sad i'm not trying to understand PA
  • #9,558
  • Oct 28, 2015 1:56pm Oct 28, 2015 1:56pm
Hello People, could somebody tell me why USD got that strong considering there was no rate change??? I was expecting totally opposite .
  • #9,559
  • Oct 28, 2015 3:06pm Oct 28, 2015 3:06pm
Quoting arioaza
Hello People, could somebody tell me why USD got that strong considering there was no rate change??? I was expecting totally opposite .
lesson learned for me personally. I think there is no clear logic other than market makers/banks doing the opposite just to take my money.
  • #9,560
  • Oct 28, 2015 4:13pm Oct 28, 2015 4:13pm
Quoting arioaza
Hello People, could somebody tell me why USD got that strong considering there was no rate change??? I was expecting totally opposite .
For me the overnight price decline on the dollar indicated a potential rally on news. I set 20pip orders on each side of the price and pray for a mild whipsaw.
Trade with confidence, trade without fear.
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