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TMS for Newbies Part 2 1,120 replies

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  • #121
  • Mar 17, 2016 6:15am Mar 17, 2016 6:15am
Quoting griffinssoul
{quote} first u dont have the entry candle on H4 [ur entry is candle#4] .... see first pages ..... next the cross is below 50line [and the PA is weak as - but dont worry about this 4 now] indicating bearishness .... read the rules many times and u will get use 2 them take another look at the cross itself - how would u describe it - flat? loopy? ... consider this .... the ATR[14] value for that pair was around +30pips - do u feel a 25pip SL is enough given that [on avg - ruffly] one candle can take u out? ..... keep going...
....here is wat a gr8 loopy cross looks like
Attached Image
  • #122
  • Mar 17, 2016 9:03am Mar 17, 2016 9:03am
MrAussie
Will this be a valid sell signal?
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  • #123
  • Mar 17, 2016 9:39am Mar 17, 2016 9:39am
using my limited knowledge that is not a valid sell signal as there is no cross even though it is in the sell area.
please correct me if i am wrong.
Fib(onacci) my way to glory
  • #124
  • Mar 17, 2016 9:40am Mar 17, 2016 9:40am
Post trade analysis is featured frequently on other threads. The practice of using higher timeframes to support reasons why a trade on a lower timeframe was bound to fail is commonplace. Hindsight trading is easy.

Many of the top traders look only at the timeframe they are trading, using price action and the TDI in front of them to make their trading decision.
Eelfranz - traded 1H charts during live sessions, otherwise 4H charts. He didn't as a matter of course seek confirmation from higher timeframes.
Dean Malone - Dean in one of his excellent videos actually concealed the price action chart and showed how he could identify good trade set-ups simply from the TDI.
phx62 - one of the consistent traders, traded almost exclusively from the 1H chart without reference to another timeframe.
Snarlyjack - (who regrettably seems to have been excluded from forex forums), was quoted as saying 'When I start flipping through lots of timeframes I end up getting confused'

As this commendable thread is devoted to novice traders like myself, I am hoping that everyone will keep the KISS strategy in mind and not over-complicate things.
  • #125
  • Mar 17, 2016 10:18am Mar 17, 2016 10:18am
Quoting dodger
Post trade analysis is featured frequently on other threads. The practice of using higher timeframes to support reasons why a trade on a lower timeframe was bound to fail is commonplace. Hindsight trading is easy. Many of the top traders look only at the timeframe they are trading, using price action and the TDI in front of them to make their trading decision. Eelfranz - traded 1H charts during live sessions, otherwise 4H charts. He didn't as a matter of course seek confirmation from higher timeframes. Dean Malone - Dean in one of his excellent...
Interesting post dodger! You mentioned the most respected and top traders of FF!
I wonder how much historical data is available to actually support an "edge" by using MTF's?!
By not having to use MTF analysis, would save on time and avoid confusion!
  • #126
  • Mar 17, 2016 10:20am Mar 17, 2016 10:20am
Quoting Lanzo
MrAussie Will this be a valid sell signal? {image}
I'm assuming you mean, should I buy and cover my short this point?!

Yes in my humble opinion! You are at a major support area and TDI Green has gone flat and you're outside the VB.
  • #127
  • Mar 17, 2016 10:30am Mar 17, 2016 10:30am
Quoting Lanzo
MrAussie Will this be a valid sell signal? {image}
Hi Lanzo,
Check out the Entry and Exit rules in post #4. The chart in the post explains everything in detail.
Never argue with a fool; onlookers may not be able to tell the difference.
  • #128
  • Mar 17, 2016 10:45am Mar 17, 2016 10:45am
Quoting dodger
Post trade analysis is featured frequently on other threads. The practice of using higher timeframes to support reasons why a trade on a lower timeframe was bound to fail is commonplace. Hindsight trading is easy. Many of the top traders look only at the timeframe they are trading, using price action and the TDI in front of them to make their trading decision. Eelfranz - traded 1H charts during live sessions, otherwise 4H charts. He didn't as a matter of course seek confirmation from higher timeframes. Dean Malone - Dean in one of his excellent...

Dodger, i must respectfully disagree.

Eelfranz made many references to HTF and trends in more than one thread here on FF. I suggest you take a look at all his posts again. One i will point out to you is post 647 from the original TMS thread, he states: "Am I in an uptrend or downtrend . . . Short & long term . . . ". This statement was part of a list entitled: "When waiting to enter a TDI trade . . . take a moment first to observe basic 4x . . . like:". You need to ask yourself what did Eelfranz mean? Specifically, what did he mean.

Dean Malone is the inventor of the TDI and a good teacher. I know exactly the video you saw and he uses the "tdi red" crossing the 50 line as both entry and exit. This method has been discussed by many on FF, including Le1 who renamed it "sempoi". However, of the hundred's of videos dean has created, and specifically the videos regarding trade entry, the vast majority reference the HTF APB color and trend. Take a look at a few more videos or send dean an email, i assure you he will confirm importance of HTF.

Phx62 has posted 300/400 TMS trading charts on FF and in basically every single chart he has a MTF indicator in the top right-hand corner (m1, m5, m15, h1, h4, d1, w1, mn1). Would such a proficient trader keep an indicator on all his charts if he didn't use it in some way? Interestingly, Phx62 has been asked numerous question about this indicator, i think his replies would surprise you.

MrAussieFX in post4 of this thread clearly states within the entry rules ". . . Following the higher TF trend and . . "


The one point i will agree with you on is that postmortem analysis is often easy and obvious. True. But what really counts is "pre-trade analysis" (this is what will make us all super traders), and in order to sharpen that skill, it is always useful to perform a postmortem, especially on losers.

This thread is targeted at newbies and is about the core of TMS/5-method, and it is especially important we do not mislead newbies. Checking HTF trend/apb is within the core of this method and that should be very very clear.

best, N
  • #129
  • Mar 17, 2016 10:54am Mar 17, 2016 10:54am
Quoting Nik-Nyc
{quote} Dodger, i must respectfully disagree. Eelfranz made many references to HTF and trends in more than one thread here on FF. I suggest you take a look at all his posts again. One i will point out to you is post 647 from the original TMS thread, he states: "Am I in an uptrend or downtrend . . . Short & long term . . . ". This statement was part of a list entitled: "When waiting to enter a TDI trade . . . take a moment first to observe basic 4x . . . like:". You need to ask yourself what did Eelfranz mean? Specifically, what did he mean. Dean...

Hello Nik,

Can you direct me to that video of Dean Malone that picks trades only by TDI and in which he concealed PA ?



Thank you,
Bill
focus, manage risk, rinse, repeat
  • #130
  • Mar 17, 2016 11:12am Mar 17, 2016 11:12am
Quoting bill992
{quote} Hello Nik, Can you direct me to that video of Dean Malone that picks trades only by TDI and in which he concealed PA ? Thank you, Bill

Hi Bill,

I never bookmarked the video because while there is an interesting novelty factor to it, personally i trade with the whole tdi, very much in a TMS/5-method way. That said, Dean does have some good quality video explaining various other topics. Whats great about TMS is that you are given simple rules from which you can slowly build a proper trading plan after some experience.

I will PM you a link to the Sempoi posts in Le1 thread, but please remember they are off topic within this thread.

Best,
N
  • #131
  • Mar 17, 2016 11:26am Mar 17, 2016 11:26am
Quoting bill992
{quote} Hello Nik, Can you direct me to that video of Dean Malone that picks trades only by TDI and in which he concealed PA ? Thank you, Bill
Hi Bill, I PM'ed you 2 links to his videos.
  • #132
  • Mar 17, 2016 11:37am Mar 17, 2016 11:37am
Quoting Nik-Nyc
{quote} Dodger, i must respectfully disagree. Eelfranz made many references to HTF and trends in more than one thread here on FF. I suggest you take a look at all his posts again. One i will point out to you is post 647 from the original TMS thread, he states: "Am I in an uptrend or downtrend . . . Short & long term . . . ". This statement was part of a list entitled: "When waiting to enter a TDI trade . . . take a moment first to observe basic 4x . . . like:". You need to ask yourself what did Eelfranz mean? Specifically, what did he mean. Dean...
Excellent post, it should also be noted that phx62 had the m15, h1 and h4 charts open at all times next to each other, although he traded h1 PA and tdi.
  • #133
  • Mar 17, 2016 12:50pm Mar 17, 2016 12:50pm
Mr AussieFX
we wouldn't have taken these trades circled as the cross was not on the right side of the MBL???
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Fib(onacci) my way to glory
  • #134
  • Mar 17, 2016 3:54pm Mar 17, 2016 3:54pm
Quoting billsmith
Mr AussieFX we wouldn't have taken these trades circled as the cross was not on the right side of the MBL??? {image}
Someone please give level of importance to sell trades within each of these TDI zones?

1. 100/68
2. 68/50
3. 50/32 (ideal, best)
4. 32/0

Thanks
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  • #135
  • Mar 17, 2016 4:59pm Mar 17, 2016 4:59pm
Subscribed, have been trying to absorb TMS for a week now as a total beginner and the prospect of trawling 3300 pages has been daunting, so glad to see this beginner thread starting. The original thread has got pretty technical by now for a newbie.
  • #136
  • Mar 17, 2016 5:14pm Mar 17, 2016 5:14pm
Quoting billsmith
Mr AussieFX we wouldn't have taken these trades circled as the cross was not on the right side of the MBL??? {image}
Hi Bill,
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Kindest regards
  • #137
  • Mar 17, 2016 5:46pm Mar 17, 2016 5:46pm
Quoting MrAussieFX
{quote} Hi Bill, {image} Kindest regards
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #138
  • Mar 17, 2016 6:08pm Mar 17, 2016 6:08pm
Quoting Karado58
{quote} Someone please give level of importance to sell trades within each of these TDI zones? 1. 100/68 2. 68/50 3. 50/32 (ideal, best) 4. 32/0 Thanks {image}
Karado58,
Attached Image (click to enlarge)
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Kindest regards
  • #139
  • Mar 17, 2016 6:22pm Mar 17, 2016 6:22pm
Hi everyone,

I apologize to everyone who got involved with me in this new journey here at TMS newbies but my day work from today got moved 1.5 hrs earlier which means my regular working hours got extended anywhere between 11 - 11.5 hrs everyday (5 days a week) and 4 hrs Sunday shift on top of it.

Which put me in a position where my contribution here will be very limited. I wasn't expecting this but as we all know day job is something that pays bills and put food on the table for most of us. Moreover, this will also affect the way I trade what that means is I have to put more focus on Daily trade setups now and have to significantly reduce the amount of trades I take in a week.

I would really appreciate if all the lovely and caring people who were involved with TMS from long help newbies with their questions.

I would still try my level best to contribute as much as I can. Thanks for your understanding.

Kindest regards
  • #140
  • Mar 17, 2016 6:34pm Mar 17, 2016 6:34pm
Quoting MrAussieFX
Hi everyone, I apologize to everyone who got involved with me in this new journey here at TMS newbies but my day work from today got moved 1.5 hrs earlier which means my regular working hours got extended anywhere between 11 - 11.5 hrs everyday (5 days a week) and 4 hrs Sunday shift on top of it. Which put me in a position where my contribution here will be very limited. I wasn't expecting this but as we all know day job is something that pays bills and put food on the table for most of us. Moreover, this will also affect the way I trade what that...

Hi buddy,

sorry to hear you have longer work hours, that sound like slavery to me. fire your boss!
welcome to the D1 chart trading community. you will do better I am sure of that.

you are and will be the only teacher here in this thread.

take care!
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
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