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  • #62,761
  • Nov 8, 2015 11:44pm Nov 8, 2015 11:44pm
Quoting farhad10
Hi to all Tms Traders E/U Has completed it's 5th wave and i think next targets are 1.8950 and 1.0080 and 1.1100 that are fobo 23,38 and 50. {image} Gold My target is the same my last post Post 62,634 Green pips to all of you best regards.
Hi,

This current wave down is pretty strong.
We have to see how 1.070 will hold, if not then the way down the free space is nice range for many pips.

I am looking at 1.046 which is the low of the MN consolidation range and 1.3600 longer term.

TMS Day chart will lead the way.

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD Week 46 MN.png Size: 36 KB


Edit: I know some may have concern seeing that the D1 and H4 TDI are in the OS regions below the 32 level. But when string trending market, the TDI can remain in the OS regions for quite sometime more, The Weekly looks good but we need to pay attention to where we place our trailing stops.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #62,762
  • Nov 9, 2015 12:08am Nov 9, 2015 12:08am
EURGBP week 46 :

Ask any MTF expert, do you trade following the Weekly or the Daily?

Attached Image (click to enlarge)
Click to Enlarge Name: EURGBP Week 46 H4.png Size: 210 KB


If you are trading the H4, how many days do you want to hold your trades open?

And if you are a position trader, same question: how many days/weeks do you hold your trades open?

Do you have a rule which says: "When you are wrong, get out!"

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #62,763
  • Nov 9, 2015 12:11am Nov 9, 2015 12:11am
Quoting emmanuel7788
{quote} Hi, This current wave down is pretty strong. We have to see how 1.070 will hold, if not then the way down the free space is nice range for many pips. I am looking at 1.046 which is the low of the MN consolidation range and 1.3600 longer term. TMS Day chart will lead the way. {image} Edit: I know some may have concern seeing that the D1 and H4 TDI are in the OS regions below the 32 level. But when string trending market, the TDI can remain in the OS regions for quite sometime more, The Weekly looks good but we need to pay attention to...
I agree with Emm. EU is aiming for 1.04 the weekly chart tells it all. You never go wrong with Weekly Chart. Even if you look at US dollar index Wave 5 is not complete but almost there and it should end around 104. This will push EU down before we see any reversal for uptrend.
  • #62,764
  • Nov 9, 2015 12:37am Nov 9, 2015 12:37am
NZDUSD week 46 9 Nov H1.

is this the time to join in the Day trading party?

Attached Image (click to enlarge)
Click to Enlarge Name: NZDUSD week 46 H1 9 Nov.png Size: 31 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #62,765
  • Nov 9, 2015 12:48am Nov 9, 2015 12:48am
Can be good place to start building positions.
Initial sl above big candle - 0.6625 or use 2 Day sl - above 0.6660 ?

Quoting emmanuel7788
NZDUSD week 46 9 Nov H1. is this the time to join in the Day trading party? {image}
  • #62,766
  • Nov 9, 2015 12:50am Nov 9, 2015 12:50am
Quoting macajos
{quote} I agree with Emm. EU is aiming for 1.04 the weekly chart tells it all. You never go wrong with Weekly Chart. Even if you look at US dollar index Wave 5 is not complete but almost there and it should end around 104. This will push EU down before we see any reversal for uptrend.

but sometimes the market is right and we are wrong.
That's when we jump out and not wait and hope and and pray that it will trun back around for us to exit with smaller loss. Of course some people do this and hope to see a small drawdown in their MT4 accounting system when they closed their trades. But their floating loss can be so big that they often will get margin call before their small drawdown.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #62,767
  • Nov 9, 2015 12:56am Nov 9, 2015 12:56am
Quoting emmanuel7788
NZDUSD week 46 9 Nov H1. is this the time to join in the Day trading party? {image}
Hi Emm,

I went in short for NU, SL at the recent swing high. What do you think?
  • #62,768
  • Nov 9, 2015 12:56am Nov 9, 2015 12:56am
Quoting bigpips
Can be good place to start building positions. Initial sl above big candle - 0.6625 or use 2 Day sl - above 0.6660 ? {quote}

It is very important when we do position buliding is not to open too many new trades very close to the previous trade. The minimum time delay between the last trade and the next add-on trade should be 4-hours minimum. The pip distance must not be smaller than 0.25ADR (100days) otherwise we will end up with too many open trades in the same day.
The technical trading "trick" here is to use time delay and pip distance 'grid' and use the TDI cross either in M15 or H1 to add the trades for us.
That is how a trade manager can be programmed to do this after we initiated the very first trade as the new basket.
Each basket must have its own Magic Number and must be manage using Magic Number.
MT4 programmers reading this will know what to do.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #62,769
  • Nov 9, 2015 12:59am Nov 9, 2015 12:59am
Quoting jeff90
{quote} Hi Emm, I went in short for NU, SL at the recent swing high. What do you think?

posting a chart would tell the complete story ... no language barrier.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #62,770
  • Nov 9, 2015 1:08am Nov 9, 2015 1:08am
Quoting bigpips
Can be good place to start building positions. Initial sl above big candle - 0.6625 or use 2 Day sl - above 0.6660 ? {quote}

sorry miss the part on placing SL. Using the 2-Day candle look back is safe.

I know many traders here trade with fix lot size and do not trade using %Risk and calculate their trade Position Size.

Here is a good video explaining Position Sizing which we can use trading with ME/ME.

Position Sizing :

http://www.compassfx.com/video/flash/92209/92209.html
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #62,771
  • Nov 9, 2015 1:10am Nov 9, 2015 1:10am
Quoting emmanuel7788
NZDUSD week 46 9 Nov H1. is this the time to join in the Day trading party? {image}
I think this may be a high probability of entry points, as shown in the picture, SL at the green line above,20 or so, it's no big deal.
Attached Image (click to enlarge)
Click to Enlarge Name: 无标题.png Size: 19 KB
  • #62,772
  • Nov 9, 2015 1:15am Nov 9, 2015 1:15am
Thanks for the detailed explanation and answers!
I understand what you mean but unfortunately I am not any kind of programmer!

I entered the trade at start of bar with arrow on top.





Quoting emmanuel7788
NZDUSD week 46 9 Nov H1. is this the time to join in the Day trading party? {image}
Attached Image (click to enlarge)
Click to Enlarge Name: NZDUSDH1 9112015.png Size: 31 KB
  • #62,773
  • Nov 9, 2015 1:20am Nov 9, 2015 1:20am
Quoting emmanuel7788
{quote} posting a chart would tell the complete story ... no language barrier.
Hi Emm,

sry about that, was using Team Viewer cant print scn. My entry was 0.65500, put my tp @ 0.65371. Do you suggest another better exit poijnt?
  • #62,774
  • Nov 9, 2015 1:27am Nov 9, 2015 1:27am
Quoting tibovwh
{quote} Hi emmanuel, I was wondering if you could talk a bit or point me in the direction of some posts that talk about 'averaging up'. I've read a lot about averaging down with ME/ME. But what do you do when you enter 0.2% or 0.4% because the retracement was very shallow and the trade moves in your favor quickly. Do you ever consider averaging up? How do you go about this? Best,
Hi tibovwh,

Here this NU trade example will explain situations when I open a new basket with 0.2% for the first trade and there was no retracement for me to build position to get a better average entry price. In such situation, I will scale-in more trads as the price action move in favour of the dominant trend.

With three open trades now, my total risk used is 0.6% and I am above my average breakeven price.
I now have the option to close the first two trades taking some profits and re=open new ones with the 0.4% risk.
I wait and see later how the market will progress.

Attached Image (click to enlarge)
Click to Enlarge Name: NZDUSD Day chart trading with scaling in trades.png Size: 48 KB


regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #62,775
  • Nov 9, 2015 1:30am Nov 9, 2015 1:30am
Last weeks performance, anything over 100 pips a week and I'm a happy camper, I'm not greedy.
Attached Image
  • #62,776
  • Nov 9, 2015 1:30am Nov 9, 2015 1:30am
Quoting jeff90
{quote} Hi Emm, sry about that, was using Team Viewer cant print scn. My entry was 0.65500, put my tp @ 0.65371. Do you suggest another better exit poijnt?

when you plan your trade, you must have two exits in mind.

1st exit is your SL

2nd exit is your TP.

always one entry two exits minimum. You can have 3rd exit (scale-out)

Believe me, your 1st exit is always the best exit. This is where you will develop your mental fitness as a trader.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #62,777
  • Nov 9, 2015 1:32am Nov 9, 2015 1:32am
Quoting stefan17
Last weeks performance, anything over 100 pips a week and I'm a happy camper, I'm not greedy. {image}

excellent.

Are these H1 trades? they look good.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #62,778
  • Nov 9, 2015 1:51am Nov 9, 2015 1:51am
  •  Hpt
  • Joined Jun 2015 | Status: everybody trade at one`s own risk | 648 Posts
Quoting stefan17
Last weeks performance, anything over 100 pips a week and I'm a happy camper, I'm not greedy. {image}

looks good , congrats
from level to level - you need mental strength to reach the summit
  • #62,779
  • Nov 9, 2015 1:58am Nov 9, 2015 1:58am
Quoting wheelbarrowe
{quote} I think this may be a high probability of entry points, as shown in the picture, SL at the green line above,20 or so, it's no big deal. {image}

Yes.
That is a high probability intraday trade level which I often look at when I trade H1. The 50% rectracement of the previous Day High-Low is where seller/buyers will wait at.
The same when we trade H4, the 50% retracement of the privious Week high-Low is also the places we look for Buy/Sell entries.

These are what I call Fib38/50 entry and they often work out when the market is trending and the retracement are usually shallow in strong trends. We look for TMS setups at these Fib38/50 levels.

It will not work when the previous Day or the Previous Week is narrow range or when market is in consolidation.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #62,780
  • Nov 9, 2015 2:02am Nov 9, 2015 2:02am
Quoting bigpips
Thanks for the detailed explanation and answers! I understand what you mean but unfortunately I am not any kind of programmer! I entered the trade at start of bar with arrow on top. {quote} {image}

there are a few very good MT4 programmers here in FF.
they will do a good EA trade manager manager based on what your specifications.
Small fee and you recoup this is few trades.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
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