Fantastic! Subscribed.
FXafrica " it is in giving that you receive..."
(binned per thread starter's request) TMS for Newbies
One of the member recently asked about the StopLoss placement using TMS.
Stop Loss according to me is something that you have in hand before you even trigger your entry. What I mean by that is you know that this is a place on my chart where if price ever comes back my analysis on this trade setup is wrong and I should reconsider my trade analysis.
Therefore, it comes back to the point how much have you backtested/forward your strategy/system. Do you have a pair/s that act in a same fashion during certain sessions. How much are you willing to lose on a particular trade (Use Lot Size calculator from post#3 (http://www.forexfactory.com/showthread.php?p=8809816#post8809816) ).
Please see attached charts below to get an idea on where to put your SL. There is no right or wrong way to do it.
Kindest regards
Stop Loss according to me is something that you have in hand before you even trigger your entry. What I mean by that is you know that this is a place on my chart where if price ever comes back my analysis on this trade setup is wrong and I should reconsider my trade analysis.
Therefore, it comes back to the point how much have you backtested/forward your strategy/system. Do you have a pair/s that act in a same fashion during certain sessions. How much are you willing to lose on a particular trade (Use Lot Size calculator from post#3 (http://www.forexfactory.com/showthread.php?p=8809816#post8809816) ).
Please see attached charts below to get an idea on where to put your SL. There is no right or wrong way to do it.
Kindest regards
Live GJ H1 Trade, Why it is not a setup I would take ?
GJ H1
GJ H4
GJ Daily
GJ H1 PAC
GJ H4 PAC
GJ Daily PAC
What if this trade worked out on the sell side and I'll miss 50-100 pips... What if I place the trade and it did not work out in my favour. I try to look for the TDI crosses that meet the rules I've set for it. If it doesn't meet the rules, I'll pass on the trade.
Kindest regards
GJ H1
GJ H4
GJ Daily
GJ H1 PAC
GJ H4 PAC
GJ Daily PAC
What if this trade worked out on the sell side and I'll miss 50-100 pips... What if I place the trade and it did not work out in my favour. I try to look for the TDI crosses that meet the rules I've set for it. If it doesn't meet the rules, I'll pass on the trade.
Kindest regards
- #25
- Mar 13, 2016 7:18pm Mar 13, 2016 7:18pm
- Joined Nov 2008 | Status: Trader | 50,193 Posts
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
What the 32 50 68 lines on the TDI is is all about? i know in the video it says that if the price (green line) above 50 it means that the buyers are buying, and if its below 50 that mean the sellers are selling, is that means if the price below 50 i have only to pay attention to bearish crossover? and ignore any bullish crossover? or i have to wait the price until its above 68 and looking for short or above 32 and looking for long when there is a crossover?
Once you have watched the video, go through your charts on H4 and daily TF. Try to see what video is explaining and it will surely starting making sense. Please find chart attached below for more details, I believe you won't find it too cluttered..
Stick to 4 hour charts for trading as they are less stressful and will help you see learn TDI behaviour quickly.
Kindest regards
Subscribed! Keep em coming!- #32
- Mar 14, 2016 1:28pm Mar 14, 2016 1:28pm
- Joined Nov 2012 | Status: Trader | 2,339 Posts
I Have Learned to Take Some Losses to Make Profits
- #34
- Edited 3:47pm Mar 14, 2016 2:56pm | Edited 3:47pm
- Joined Nov 2008 | Status: Trader | 50,193 Posts
{quote} Hi Depidojo, Once you have watched the video, go through your charts on H4 and daily TF. Try to see what video is explaining and it will surely starting making sense. Please find chart attached below for more details, I believe you won't find it too cluttered.. {image} Stick to 4 hour charts for trading as they are less stressful and will help you see learn TDI behaviour quickly. Kindest regards
MrAussieFX,
very well made chart with clear explanation... I LIKE.
But this is what the Synergy trading model is and has been since 2007 if I recall that year correctly.
eelfranz took that Synergy trading model and stripped away the TDI MBL and VB and also replaced the PAC with 5EMA Typical Price, Shift+3 and made that in the 5-Method. That was in the old thread Craig Harris Stochastic thread which was moved to the Commercial foru. Big E then decided to start a new thread for the 5-Method discussion in the Trading Systems forum and name that Trading Made Simple aka TMS.
What you are teaching here is in fact the old Synergy trading model. I like this better because it is much easier and friendlier for newbies exactly what I think wopuld help them learn to trade easier. Good job buddy.
regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #39
- Mar 14, 2016 6:14pm Mar 14, 2016 6:14pm
- Joined Sep 2015 | Status: ob-la-di, ob-la-da, life goes on... | 4,499 Posts
Since Frank Sinatra sings in his own way, my chart sing... I did it, my way
Regards {quote} Mr Aussie, thank you for the great chart as described by Scorps. Can i query your rules in the top right (4) and (5) which are buy and sell signals. "buy is Green crossing Red above MBL all above 50. Sell is Green crossing Red both below MBL and below 50. However on your examples in the TDI you have 2 "buy signals but they are below 50 levels, which isn't in your rules quoted? Also Big E seemed to like buy a set up below 32 and above 68 for a sell, I would appreciate your thoughts on that?
Big E was an aggressive trader with high win rate as discussed before with hours and hours of chart reading experience. He stripped few things from TDI as per his convenience but I, on the other hand is still a novice and taking baby steps in learning how TDI works with PA.
I would rather base my trades on H4 and Daily charts and be happy with 2-3 trades per week being conservative. Please see annotated chart below regarding your question above.
Kindest regards