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Trading Made Simple

  • #64,143
  • Dec 17, 2015 7:27pm Dec 17, 2015 7:27pm
hello all,

here are my ME/ME with 5 method TMS this week.

GBP/CAD= 500+
EUR/USD= 400+
USD/CAD= -492, 769 = 277

usd/cad was ranging and i thought the bulls was exhausted so i wanted to play the range and as you can see i was trading opposite of trend and i got burn bad.

happy holidays,
Meihk
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  • #64,144
  • Dec 17, 2015 7:30pm Dec 17, 2015 7:30pm
Hello. First post here. I have been studying forex price action volume trading for a year now and this strategy for a couple months. I just can't find this one answer to my question.

Do we ever manually close a trade or always let it hit the stop loss? If I enter a trade and then tdi curves the wrong way on the next bar and goes negative, do I close then?

If I enter on the second bar and the tdi cross looks good and the third candle is opposite color, do I close the trade right then it let it try to turn around?

Thanks all,
Dave
  • #64,145
  • Dec 17, 2015 8:10pm Dec 17, 2015 8:10pm
Quoting Dmarth10
Hello. First post here. I have been studying forex price action volume trading for a year now and this strategy for a couple months. I just can't find this one answer to my question. Do we ever manually close a trade or always let it hit the stop loss? If I enter a trade and then tdi curves the wrong way on the next bar and goes negative, do I close then? If I enter on the second bar and the tdi cross looks good and the third candle is opposite color, do I close the trade right then it let it try to turn around? Thanks all, Dave
Hello Dmarth10,

If you're trading on HTF I would close manually if the next bar close a different color. So i'm gonna assume you're trading on the LTF and if so there is couple possibility 1. you're in a range market 2. there is a S/R near 3. you're trading opposite of trend.

regards,
Meihk
  • #64,146
  • Dec 17, 2015 8:41pm Dec 17, 2015 8:41pm
Meihk, what do you mean there a couple possibilities? Possibilities of what?. Not trying to sound rude, just didn't understand exactly.

Are you saying that if I'm worried about having to close a bad trade early I must be trading in bad zones or opposite the trend?

I definitely am not profitable yet, I really appreciate your reply.

Thanks
  • #64,147
  • Dec 17, 2015 9:41pm Dec 17, 2015 9:41pm
Quoting Arso
Dear Omonisha, Have you got only one strategy to enter after a divergence (hidden or not?) + OB? Do yo enter as soon as the OB closes? thank you! cheers! {quote}
You mean only reason right? There were couple of reason marked on the chart for the entry. RN, Previous Monthly Weekly high, previous structure low, TDI cross at 68 zone. What was not showing was the divergence and the OB. So i mentioned them. Hope that answer your question.

Happy pipin
Sad i'm not trying to understand PA
  • #64,148
  • Dec 17, 2015 10:04pm Dec 17, 2015 10:04pm
Quoting Dmarth10
Meihk, what do you mean there a couple possibilities? Possibilities of what?. Not trying to sound rude, just didn't understand exactly. Are you saying that if I'm worried about having to close a bad trade early I must be trading in bad zones or opposite the trend? I definitely am not profitable yet, I really appreciate your reply. Thanks
Hello Dmarth10,

It would be better to post a chart examples for us to help you with your questions. but from what you explain i can only assume you are trading in lower time frame (1hr, 30m,etc..). Alot of people have problems when they trade the LTF.

When we trade with TDI we want to know what level it is crossing near like 68, 50, 32 on the TDI, also where is the MBL, above or below the tdi? we also want to see what the bar is telling us, is there a wick on top or below the bar? how big is the body of the bar? how big is the whole bar? that will give us a hint of PA within the bar. from there we can make a calculated guess to stay in the trade or exit it with what ever pips we can get. If you're getting stress or worry from a trade it mean you're risking too much of your account it help if you study money management and maybe building position is a better method.

before entering a trade you must ask yourself where is the S/R? where is the 200ema? am i in a consolidation (small body alot of wicks)? where will I put my SL? where will i take TP? is there room for price to move to my TP?

regards,
Meihk
  • #64,150
  • Dec 18, 2015 1:46am Dec 18, 2015 1:46am
H4 Ucad comments welcomed. Candle will close in 2hrs 15 mins...
Attached Image (click to enlarge)
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the cautious seldom err....C
  • #64,152
  • Dec 18, 2015 2:13am Dec 18, 2015 2:13am
Quoting smika
Hidden
Guys,
Just be aware of the forum rules about commercial product discussion.
Never argue with a fool; onlookers may not be able to tell the difference.
  • #64,153
  • Dec 18, 2015 2:19am Dec 18, 2015 2:19am
Quoting Dmarth10
Hello. First post here. I have been studying forex price action volume trading for a year now and this strategy for a couple months. I just can't find this one answer to my question. Do we ever manually close a trade or always let it hit the stop loss? If I enter a trade and then tdi curves the wrong way on the next bar and goes negative, do I close then? If I enter on the second bar and the tdi cross looks good and the third candle is opposite color, do I close the trade right then it let it try to turn around? Thanks all, Dave
Hi Dmarth,
The basic TMS rule is that if the TDI flattens or hooks you exit. Waiting for your S/L to be hit depends on it's size and your risk strategy. There is an old saying that if your S/L gets hit the market is telling you that you made a bad entry.
From what you described it sounds like your entry might be the problem. If you post a chart we'll be able to give you some better advice and get you up and running.
Never argue with a fool; onlookers may not be able to tell the difference.
  • #64,154
  • Dec 18, 2015 2:28am Dec 18, 2015 2:28am
Quoting pips29
H4 Ucad comments welcomed. Candle will close in 2hrs 15 mins... {image}
hey pips29,

I think its best to play the WRB S/R at the moment on inter-day chart. today is friday market might not move much.

regards,
Meihk
  • #64,155
  • Dec 18, 2015 3:27am Dec 18, 2015 3:27am
Quoting Meihk
{quote} hey pips29, I think its best to play the WRB S/R at the moment on inter-day chart. today is friday market might not move much. regards, Meihk
yeah, you're probably right. I was hoping for a rising 3 but looks like it's only a hope ...no big deal as my longs are somewhere lower
the cautious seldom err....C
  • #64,156
  • Dec 18, 2015 3:33am Dec 18, 2015 3:33am
Quoting Meihk
hello all, here are my ME/ME with 5 method TMS this week. GBP/CAD= 500+ EUR/USD= 400+ USD/CAD= -492, 769 = 277 usd/cad was ranging and i thought the bulls was exhausted so i wanted to play the range and as you can see i was trading opposite of trend and i got burn bad. happy holidays, Meihk {image} {image} {image}
Fantastic results Meihk During this holiday season I will study ME/ME with 5 method TMS

Cheers,
  • #64,157
  • Dec 18, 2015 5:23am Dec 18, 2015 5:23am
Heres the first trade im posting a screen shot of. Is this a decent setup for a bounce trade? I know my risk : reward is a little backwards and i would like the cross to be higher up near the 68 but other than those things, how does this look?


also, meihk, what is ME/ME?



thanks,
dave
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  • #64,158
  • Dec 18, 2015 5:24am Dec 18, 2015 5:24am
Quoting Meihk
hello all, here are my ME/ME with 5 method TMS this week. GBP/CAD= 500+ EUR/USD= 400+ USD/CAD= -492, 769 = 277 usd/cad was ranging and i thought the bulls was exhausted so i wanted to play the range and as you can see i was trading opposite of trend and i got burn bad. happy holidays, Meihk {image} {image} {image}
Hi Meihk,

Nice results! Did you enter with limit orders placed in advance? Where was your SL in each case?

Best,
  • #64,159
  • Dec 18, 2015 6:25am Dec 18, 2015 6:25am
Quoting tibovwh
{quote} Hi Meihk, Nice results! Did you enter with limit orders placed in advance? Where was your SL in each case? Best,
hello tibovwh,

thank you, my SL is around 100-150 pips on those trade, below the swing HI/LO, I like to be behind a RN level if its near. yes i do use limits orders. i try to trade only the HTF.

Meihk
  • #64,160
  • Dec 18, 2015 6:45am Dec 18, 2015 6:45am
Quoting Dmarth10
Heres the first trade im posting a screen shot of. Is this a decent setup for a bounce trade? I know my risk : reward is a little backwards and i would like the cross to be higher up near the 68 but other than those things, how does this look? also, meihk, what is ME/ME? thanks, dave {image}
hey Dmarth10,

did it hit your target? there are alot of .pdf with good information, in this thread. and take a look at this post from Emmanuel7788 post #63,762 this will explain what ME/ME is.

good luck,
Meihk
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