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TMS for M30 charts

  • #10,161
  • Nov 12, 2015 11:05am Nov 12, 2015 11:05am
Hi Guys
I have realized that I trade differently and not exactly following this system's method laid by LK
I build positions in multiple entries using key S/R and Fib levels.My trades can last 4hrs to a week.I place great importance on fundamentals
I will no longer post here simply because it confuses people.
I will be positing on my journal here if you like to follow me.
I have restricted postings to yellow low impact and higher.Sorry I have no time teaching trading 101
Warm regards to all and Specially to Griffin LK PipsNinja Classy and many others.
In trading, you have to be defensive and aggressive at the same time
  • #10,162
  • Nov 12, 2015 2:34pm Nov 12, 2015 2:34pm
Hi Davit, you have got a great point. I am only going to post trades taken based on TMS for M30 charts from now on this great thread. I hope that I can contribute to your journal since I enjoy your way of trading as well. Keep on Pipping.
Trading can't be taught but it can be learned
  • #10,163
  • Nov 12, 2015 9:12pm Nov 12, 2015 9:12pm
Quoting Davit
Hi Guys I have realized that I trade differently and not exactly following this system's method laid by LK I build positions in multiple entries using key S/R and Fib levels.My trades can last 4hrs to a week.I place great importance on fundamentals I will no longer post here simply because it confuses people. I will be positing on my journal here if you like to follow me. I have restricted postings to yellow low impact and higher.Sorry I have no time teaching trading 101 Warm regards...
G'day from Melbourne,

Thanks for your countless contributions in M30, Davit. Each and everyone of us has our own way of trading, and that is why we never stop learning. You have a great knowledge and passion in FA which gave us very good heads-up and if we combine both FA & TA, most of the time, we bagged good pips. There were some confusion the way many traders interpreted your trading and mine, just remember you can't please everyone. If you think it s best not confuse others here with your position building, I respect your decision and thank you for being so thoughtful to others.

What we need is taking the opportunities to learn and experience then design the style for ourself. If we are not comfortable with what we do, it means we either lack of knowledge or experience or both causing the problem with psychology, time with efforts will help with that if we want to pursue further in trading.

My best wishes and warm regards to you and your journey. I will visit your journal sometimes
LkC
Appreciation is the key to wealth and happiness
  • #10,164
  • Nov 12, 2015 10:25pm Nov 12, 2015 10:25pm
Quoting likica
{quote} Yeah, me too. Here the pic I marked for what I meant, so my short sell ( I called it big pic) had much better space to move for 50pips. I did a lot of counter trend but I never intended to pick the top or bottom but waited and followed. {image}
the 1st trade, why you cut this trade, it don't reach your TP, it's really hard for me to manage trade and get out right time
  • #10,165
  • Nov 12, 2015 10:44pm Nov 12, 2015 10:44pm
Quoting shad4u2
{quote} Hi LK, Nice trading LK, I am Learning lot from your chart and trying to implement in my trading. All things are going very good till now, there is 2.62% Gain in my demo account from 25/10/2015 to till now.But I have some question in my mind could you please throw some light on below point. 1) How many pairs do you follow in your list and which one ? 2) What is your Risk reward ratio with all pairs ? (In pips with each pairs specially G pairs) 3) What is your first look while searching trade ? 4) What is the role of News in trading ? 5) What...
Great results Shad
I've got to say that I hate repeating (sound like a broken recorder or a mummy type), it shows that you did not read my prev posts or missed them to find the answers. Anyway, here's my answers:

1) How many pairs do you follow in your list and which one ?
GA EA GN EN GJ EJ EU GU (sometimes checking GCAD ECAD, watching (no trade) on AU NU)

2) What is your Risk reward ratio with all pairs ? (In pips with each pairs specially G pairs)
50ps for initial SL/PT, then adjust them as trade in progress. Don't let your SL get hit, you have control over it (not your brokers unless you are not avail to monitor your trades), it's your job to watch PA and act accordingly, don't ask more, study old charts and watch live market and practise more to gain experience to build confidence.

3) What is your first look while searching trade ?
have H1 of those pairs up on 1 screen all the time and if any of those @S/R with pin, price stalled, etc, act on M30, watch TDI avoid trade at overbought/oversold on the time frame you trade.

4) What is the role of News in trading ?
Don't predict, watch charts (high/low) 15min after news out, no trade if PA looks confusing.

5) What is the confirmation to let your trade run or exit ?
I m still learning to let my trades running, currently base on 1 or 2 of these lines to determine my exits.: S/R, TL, Fibs, m30ATR(7)for counter trend, H4 ATR(7)with trend
Happy pipping!
Appreciation is the key to wealth and happiness
  • #10,166
  • Edited 11:00pm Nov 12, 2015 10:47pm | Edited 11:00pm
Quoting longbk
{quote} the 1st trade, why you cut this trade, it don't reach your TP, it's really hard for me to manage trade and get out right time
Always look left to see if any s/r nearby, don't be greedy when going counter trend. You rather have green (even if it's small) than red pips. ah, one big tips is spotting TDI going lower while price retrace for potential hidden divergence, and since price was facing my DOL &200MA was a big thing to me, I got out and waited for continuation long set up.... You will get good at looking for potential... just like you ride a motorbike or drive a car, always watching out for others around you doing...Some traders said they don't need indies, PA is all, myself, I need both
Appreciation is the key to wealth and happiness
  • #10,167
  • Nov 13, 2015 2:59am Nov 13, 2015 2:59am
GN long, +50 pips.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPNZDcsfxM30.png Size: 39 KB
Trading can't be taught but it can be learned
  • #10,168
  • Nov 13, 2015 3:14am Nov 13, 2015 3:14am
Quoting Pipsninja
GN long, +50 pips. {image}
beautiful. It s facing ceiling atm...
Appreciation is the key to wealth and happiness
  • #10,169
  • Nov 13, 2015 8:49am Nov 13, 2015 8:49am
Quoting likica
{quote} beautiful. It s facing ceiling atm...
Hi LK,
DOL is important in your trade but sometimes I confused. You going agains the DOL and taking the trade. Yes because enough you have space.
But my daily open sometimes yes same sometimes different than yours.
When your Day opening? Sydney, London, New York?

Thank you.
  • #10,170
  • Nov 13, 2015 10:51am Nov 13, 2015 10:51am
Quoting ozgsnr
{quote} Hi LK, DOL is important in your trade but sometimes I confused. You going agains the DOL and taking the trade. Yes because enough you have space. But my daily open sometimes yes same sometimes different than yours. When your Day opening? Sydney, London, New York? Thank you.
I noticed that too, my DOL used to match up to Likica's but now it doesn't so I presume she has changed broker. It used to be set to NY finish 5pm EST but now not sure.
  • #10,171
  • Nov 13, 2015 2:55pm Nov 13, 2015 2:55pm
Quoting lastingwell
{quote}I noticed that too, my DOL used to match up to Likica's but now it doesn't so I presume she has changed broker. It used to be set to NY finish 5pm EST but now not sure.
Thank you Lastingwell DOL changin plan is changing
  • #10,172
  • Edited 10:56pm Nov 13, 2015 10:46pm | Edited 10:56pm
Quoting ozgsnr
{quote} Hi LK, DOL is important in your trade but sometimes I confused. You going agains the DOL and taking the trade. Yes because enough you have space. But my daily open sometimes yes same sometimes different than yours. When your Day opening? Sydney, London, New York? Thank you.
Hi Oz,
I recently opened another acct with a new broker, still using my others. I noticed they are all different ( I don't put eggs in one bag), so if you have DOL different from mine, not too worried, study your old chart to see how price reacted every time its 1st touch around your DOL. Pay attentions to PA ( I did not have DOL on my charts in early days but I was doing ok too), just making sure not to enter a trade when 32<TDI>68 or it will be hard to sit with big DD, the rest can be taken care.
The more you know your charts/your pairs well, the better you feel.
You saw me sometimes traded into DOL (one chart it broke thru, other had not, however, if I was happy with PA ( div, hl hh, lh ll, pins, etc....) and having space to go to my PT from last swing high/low, etc. I would take them.
Yes, I feel safer not to go into DOL at it 1st touch by getting small bag or not taking the trade.
Appreciation is the key to wealth and happiness
  • #10,173
  • Nov 15, 2015 12:32am Nov 15, 2015 12:32am
EURAUD- D1... Just trying to read what PA is doing
Attached Image (click to enlarge)
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Sad i'm not trying to understand PA
  • #10,174
  • Edited 5:30pm Nov 15, 2015 9:11am | Edited 5:30pm
Nice detailed chart analysis omonisha. I am learning a lot from you. Here is my GN H4 chart. Drawing trend lines (TLs) on candlestick charts is a more conventional way.

We may experience wild swings and volatility at the Open and today in general. Be cautious.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPNZDcsfxH4.png Size: 50 KB
Trading can't be taught but it can be learned
  • #10,175
  • Nov 15, 2015 6:17pm Nov 15, 2015 6:17pm
First trade this week. TDI was not crossed but acted from 32 level also H4 tf is on sup (4th time)
Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 41 KB
Time is your friend; impulse is your enemy.
  • #10,176
  • Nov 15, 2015 9:58pm Nov 15, 2015 9:58pm
Quoting Pipsninja
Nice detailed chart analysis omonisha. I am learning a lot from you. Here is my GN H4 chart. Drawing trend lines (TLs) on candlestick charts is a more conventional way. We may experience wild swings and volatility at the Open and today in general. Be cautious. {image}
Thanks PJ we learn together m8. Good chart GN following trend line and the yellow box on your chart seems strong indeed. There is a double top and RN-2.3400 above on daily. Watching if it can hold or not
Sad i'm not trying to understand PA
  • #10,177
  • Nov 16, 2015 2:09am Nov 16, 2015 2:09am
Nice start to the week. +50 on GA
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: GBPAUDSBM3016-11(2).png Size: 27 KB
  • #10,178
  • Nov 16, 2015 2:10am Nov 16, 2015 2:10am
Quoting lastingwell
Nice start to the week. +50 on GA {image} {image}
Nice shot.
Trading can't be taught but it can be learned
  • #10,179
  • Nov 16, 2015 3:34am Nov 16, 2015 3:34am
OK GN, my friend, you want to go down? I am with you. Now, you want to go up? I am with you because that what friends do. Please, make up your mind.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPNZDcsfxM30.png Size: 40 KB
Trading can't be taught but it can be learned
  • #10,180
  • Nov 16, 2015 4:25am Nov 16, 2015 4:25am
GN +85
Attached Image (click to enlarge)
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