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TMS for Newbies Part 2 1,120 replies

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(binned per thread starter's request) TMS for Newbies

  • #161
  • Mar 18, 2016 2:28pm Mar 18, 2016 2:28pm
Quoting lastingwell
{quote}You can start with the smallest amount and build it up. As long as you take into account proper management of the risk and the broker's smallest lot size allows for it (some allow as small as 1 cent per pip in a micro account) as long as you don't want to live on it yet until its built up, there is no difference at all in the size of the account you start with. Work on percentages all the time so for instance if you have a $500 account and you only want to risk 2% thats $10 of risk divide that by your stop loss and thats what you trade. A...
Thank you! Make sense
  • #162
  • Mar 18, 2016 2:30pm Mar 18, 2016 2:30pm
Quoting po-veteru
{quote} Thank you! Make sense
One last important thing I forgot to mention, don't go live until you are consistently profitable on demo, if you can't make money in a demo account, you will lose your money live.
  • #163
  • Mar 18, 2016 2:49pm Mar 18, 2016 2:49pm
Quoting lastingwell
{quote}One last important thing I forgot to mention, don't go live until you are consistently profitable on demo, if you can't make money in a demo account, you will lose your money live.
Thank you again. Yes, that is the first step, and I am still far away from that...
  • #164
  • Mar 18, 2016 2:56pm Mar 18, 2016 2:56pm
Quoting billsmith
i was trawling the forum and i found the below thread, the first few pages illustrate good and bad TDI crosses very well, after that it goes awol!!!!!!!! He doesn't follow our TMS method like we do. http://www.forexfactory.com/showthread.php?t=511468 this post was most enlightening http://www.forexfactory.com/showthre...76#post7846676 (http://www.forexfactory.com/showthread.php?p=7846676#post7846676) i have put it into PDF for easy printing hopefully this will start to come second nature for all us newbies {image}...
Bill, thanks for this, very useful. I had it in my head that : below the 32 line in oversold area (or in 'selling exhaustion' area as Dean calls it), if green crossed red heading upwards , then logically this should be a great reversal trade.

I can see from this pdf and other comments in this thread that TDI below 32 is considered a 'no-trade area', could an experienced trader please clarify why this is so? I was under that impression that TDI is based off RSI indicators and I also thought if RSI reversed upwards in oversold area it should be a great buy signal? I am just a novice here, so any explanation would be welcome.
  • #165
  • Mar 18, 2016 3:15pm Mar 18, 2016 3:15pm
Quoting Nostromo
{quote} Bill, thanks for this, very useful. I had it in my head that : below the 32 line in oversold area (or in 'selling exhaustion' area as Dean calls it), if green crossed red heading upwards , then logically this should be a great reversal trade. I can see from this pdf and other comments in this thread that TDI below 32 is considered a 'no-trade area', could an experienced trader please clarify why this is so? I was under that impression that TDI is based off RSI indicators and I also thought if RSI reversed upwards in oversold area it should...
not sure about your question - one of the Guru would help you
but TDI is finally clicking with me, you don't take any old trade in the buying and selling area, trawling through past charts with out PA showing and just choosing trades because of tdi is quite astonishingly accurate- (I AM NOT SAYING THAT YOU TRADE BY TDI ALONE!!! GOT TO REMEMBER PA) hopefully i can now profit consistently

Good weekend to all
Fib(onacci) my way to glory
  • #166
  • Mar 18, 2016 8:21pm Mar 18, 2016 8:21pm
Quoting billsmith
i was trawling the forum and i found the below thread, the first few pages illustrate good and bad TDI crosses very well, after that it goes awol!!!!!!!! He doesn't follow our TMS method like we do. http://www.forexfactory.com/showthread.php?t=511468 this post was most enlightening http://www.forexfactory.com/showthre...76#post7846676 (http://www.forexfactory.com/showthread.php?p=7846676#post7846676) i have put it into PDF for easy printing hopefully this will start to come second nature for all us newbies {image}...
Well found Bill....Good of you to pop it into a PDF for simplicity of reading also!
A MOUSE THAT ROARS IS STILL NOTHING MORE THAN A MOUSE!
  • #167
  • Mar 18, 2016 8:33pm Mar 18, 2016 8:33pm
Quoting billsmith
{quote} NICE just wondering if you could post that green indicator???
If you're referring to the green session box indi TSS has on his chart, here it is Bill.
Attached File(s)
File Type: ex4 Sessions(auto) v1.6.ex4   27 KB | 202 downloads
File Type: mq4 Sessions(auto) v1.6.mq4   9 KB | 210 downloads
A MOUSE THAT ROARS IS STILL NOTHING MORE THAN A MOUSE!
  • #168
  • Mar 18, 2016 10:19pm Mar 18, 2016 10:19pm
Quoting TheScorpS
EA trade taken at LO on H1 , added one more position later on, stop loss below double bottom which was formed later into triple bottom , took many hours till it hits TP +40 + 50 pips for 2 position total + 90 pips Was a lucky day after all Happy Weekends TMS for Newbies {image}
Hi,

I also traded EA yesterday. The price action in the first few hours of London session is so confusing.....I took a short after the close of the 3rd london session candle, lost. Then close it and took a long on close of the 4th candle, but didn't hold on to the trade and close the trade early because I feel like it is going to be ranging all day and felt bad about the earlier loss.

Would you explain what gives you the confidence to enter a long directly on LO and even adding in?

Thank you.
  • #169
  • Mar 19, 2016 12:08am Mar 19, 2016 12:08am
Quoting antonym
{quote} Hi, I also traded EA yesterday. The price action in the first few hours of London session is so confusing.....I took a short after the close of the 3rd london session candle, lost. Then close it and took a long on close of the 4th candle, but didn't hold on to the trade and close the trade early because I feel like it is going to be ranging all day and felt bad about the earlier loss. Would you explain what gives you the confidence to enter a long directly on LO and even adding in? Thank you.
Your first short was going against double bottom, I was watching that level to hold and set my stop loss below that level, my entry long at LO was very early entry , I am trying to perfect my entries now

But your long on the 4th candle after it changed color to blue is perfectly fine, and had I not taken early entry , thats where I would have enterd long, when green crossed over red after the 4th candle which was the setup candle, you have to watch green above red and hold on the trade even if it retrace a bit or move slower , green above red will hold your trade long and most of the times if u leave it for some hours a head, it can hit your TP or at least you can get away with a Break Even trade if that trade consolidated again or didnt move at all

Hope this helps
I Have Learned to Take Some Losses to Make Profits
  • #170
  • Mar 19, 2016 12:13am Mar 19, 2016 12:13am
Quoting lastingwell
{quote}One last important thing I forgot to mention, don't go live until you are consistently profitable on demo, if you can't make money in a demo account, you will lose your money live.
Absolutely right , the best recommendation from experienced trader , its not live account that will make a trader a successful trader, its building a trading plan first that can be followed , traded , executed all the times, when you get that trading plan, tested it over a long period of time, prove that it works for you in Demo which to my understanding will take anywhere between 3-4 years , then after that you can look for going live

Its like you are studying a bachelor degree in the university for 3-4 years and after you graduate , then only you get the job

Thanks Lastingwell for your recommendation which I totally agree with
I Have Learned to Take Some Losses to Make Profits
  • #171
  • Mar 19, 2016 12:28am Mar 19, 2016 12:28am
Quoting billsmith
i was trawling the forum and i found the below thread, the first few pages illustrate good and bad TDI crosses very well, after that it goes awol!!!!!!!! He doesn't follow our TMS method like we do. http://www.forexfactory.com/showthread.php?t=511468 this post was most enlightening http://www.forexfactory.com/showthre...76#post7846676 (http://www.forexfactory.com/showthread.php?p=7846676#post7846676) i have put it into PDF for easy printing hopefully this will start to come second nature for all us newbies {image}...
Direwolf [http://www.forexfactory.com/showthread.php?p=7846676#post7846676] explains this very well .... which is why we have the rules here on this thread .... you can just apply the rules to eliminate all the 4 'bad' trades - u can do this just just from studying the TDI alone .....

1. cross is flat
2. there is no firm cross at all - u want to see a clear cross [this is why Lastingwell uses the repainting TDI ]
3. this is a 'bounce trade' - we only trade crosses
4. this is a genuine cross [it does not mean u have a higher chance of winning ]
5. same as 2.
Attached Image
  • #172
  • Mar 19, 2016 12:39am Mar 19, 2016 12:39am
Quoting Nostromo
{quote} Bill, thanks for this, very useful. I had it in my head that : below the 32 line in oversold area (or in 'selling exhaustion' area as Dean calls it), if green crossed red heading upwards , then logically this should be a great reversal trade. I can see from this pdf and other comments in this thread that TDI below 32 is considered a 'no-trade area', could an experienced trader please clarify why this is so? I was under that impression that TDI is based off RSI indicators and I also thought if RSI reversed upwards in oversold area it should...
ur idea is correct .... but! .... the RSI indi cannot tell u when the market is really 'oversold' [depends on how u define this - not in the market auction sense] or 'overbought' - wat usually happens is PA will 'extend' beyond ur entry [ur entry @ cross below 32 level] and take out ur SL at the pivot low [typical place] .... u may then see divergence form on the retrace/change of trend .... again we come back to the rules of this thread - can u see why they r so important

set & drill - practice practice practice [on demo ]
PA writes its signature on the TDI - so first understand the TDI ....
  • #173
  • Mar 19, 2016 12:51am Mar 19, 2016 12:51am
Quoting Davit
{quote} Hi bro Agree 100% this is true for all oscillators including bollinger bands.Little fib knowledge goes a long way which is the reason I love the pivot indi. regards
.... as someone said - wat usually happens is traders skip the basics and load up on 10000 indis - lose - and then say the system does not work .... without discipline notings gonna work .... thats why when i see a trader say'n they cant be bothered growing a demo acc first - i know they will prob not make it [it does not have 2 b 4 a long time]
  • #174
  • Mar 19, 2016 12:57am Mar 19, 2016 12:57am
Quoting billsmith
{quote} not sure about your question - one of the Guru would help you but TDI is finally clicking with me, you don't take any old trade in the buying and selling area, trawling through past charts with out PA showing and just choosing trades because of tdi is quite astonishingly accurate- (I AM NOT SAYING THAT YOU TRADE BY TDI ALONE!!! GOT TO REMEMBER PA) hopefully i can now profit consistently Good weekend to all
dis is a GURU free zone buddy .... traders help'n traders
  • #175
  • Mar 19, 2016 1:17am Mar 19, 2016 1:17am
Quoting Davit
{quote} Only most committed succeed and that's true on every field. I read Jesse Livermore book twice and got lot more second time around.Once when he lost everything millions,he borrowed 10k and spend a month just reading the tape waiting for right opertunity. He was the 1st true master of compounding profits and keep adding to position.He quickly took that 10k to another millions. The merit is he had the discipline to focus and extract from the market what he needed. Another trader I admire is Richard Donchian father of trend following whose ideas...
IMO compounding [no i am not talking about live money management[MM] methods - i dont believe any MM method more than R:R will make u a better trader] is one of the most powerful account growth methods a trader can use - over a long period .... many YRs ....
  • #176
  • Mar 19, 2016 1:57am Mar 19, 2016 1:57am
Quote

  1. http://assets.forexfactory.net/nfs/c...ar380731_1.gif griffinssoul (http://www.forexfactory.com/griffinssoul)
  2. Joined Aug 2014 | Status: Member | 3,864 Posts (http://www.forexfactory.com/search.php?do=process&provider=Member&searchuser=380731) | Invisible

Quoting Davit (http://www.forexfactory.com/showthread.php?p=8824183#post8824183)
{quote} Only most committed succeed and that's true on...


Can you please explain more about R:R?

Regards

J
Jakepuia
  • #177
  • Mar 19, 2016 2:13am Mar 19, 2016 2:13am
Quoting Jakepuia
{quote} Can you please explain more about R:R? Regards J
it simply means wat r u willing to [R]isk for a possible [R]eward - for example if u risked +50pips to try and make +100pips the Risk:Reward ratio would be 50pips:100pips or just 1:2 [warning most book have this the otherway R:R is 2:1 ] .... here is a trade example 150pips:450pips or 1:3

side note: R:R can not be separated from winning percentage [win%]
Attached Image
  • #178
  • Mar 19, 2016 3:51am Mar 19, 2016 3:51am
[quote]
it simply means wat r u willing to [R]isk for a possible [R]eward - for example if u risked +50pips to try and make +100pips the Risk:Reward ratio would be 50pips:100pips or just 1:2 [warning most book have this the otherway R:R is 2:1 ] .... here is a trade example 150pips:450pips or 1:3

side note: R:R can not be separated from winning percentage [win%]
Attached Image
http://www.forexfactory.com/attachme...1&d=1458371627
quote]

Thank you very very much .
Jakepuia
  • #179
  • Mar 19, 2016 5:27am Mar 19, 2016 5:27am
Aussie,

Great idea for setting up this thread with the purpose of KISS. I'm still using your templates from last year on my occasional TMS trades and there's nothing better.

For continuity's sake, you should also ban everyone who tries to "improve" TMS from posting here.

Best of luck.
Best regards, Zef
  • #180
  • Mar 19, 2016 6:50am Mar 19, 2016 6:50am
Quoting griffinssoul
{quote} dis is a GURU free zone buddy .... traders help'n traders
Let's keep it simple and helpful
Never argue with a fool; onlookers may not be able to tell the difference.
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