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TMS for M30 charts

  • #12,881
  • Mar 25, 2016 8:24am Mar 25, 2016 8:24am
Quoting Pipsalon
{quote} Hello omonisha, How do you draw the dotted trendlines? I can't change the line style in my MT4. {image}
Hi pipsalon sorry for the late my friend. Super busy these days. Don't get much time to come to the thread. As Decent says it is drawn by snagit screen capture tool.
Sad i'm not trying to understand PA
  • #12,882
  • Mar 25, 2016 11:39am Mar 25, 2016 11:39am
Quoting likica
{quote} Yeah, Pivots/EMA/DOL/TL are very helpful as S/R, and as day trader like me, must read price actions at those levels in conjunction with TDI to get in a trade with a good risk/reward ratios. As you and many other seniors mentioned, patience and disciplines are playing very important roles to success, methods have already been given by super traders in ff and specially in this thread for free. We enjoy your views about fundies as well as Pivot, Davit.. Thank you. {quote} Is that you or GS?
Thank LK for encouragement.

I was thinking today how can we capitalize massively from trades that have fundemetal aspect.
Feds recent statements of possible April hike creates unique opertunity.Opportunity to buy stable currencies with high interest rates like NU and AU and hold for 300-500pips
AU could drop 70 and NU 62.Anticipating this and planning for it would be great strategy to look forwards.
Again PA is king but sometimes we must plan ahead.Rate hike spikes then deflates and hike spike and deflate again.Will see how this plays out.
Personally US economy is fragile and Feds pushing hikes is not good for economy that is shaky yet from 2008 crash.
Should the Feds really screw it this time I am afraid mechanisms to deal with it has exhausted.
regards
In trading, you have to be defensive and aggressive at the same time
  • #12,883
  • Mar 25, 2016 11:51am Mar 25, 2016 11:51am
Quoting omonisha
{quote} Hi pipsalon sorry for the late my friend. Super busy these days. Don't get much time to come to the thread. As Decent says it is drawn by snagit screen capture tool.
Ok thanks, Thanks Decent I missed your post.
  • #12,884
  • Mar 27, 2016 9:45pm Mar 27, 2016 9:45pm
Quoting kain775
{quote} Hi, what are the exact settings of your MA's please? I was studying your images on my charts attempting to learn, and I am using a 200 ema applied to the close and i noticed on this GN trade [m30] that yours appeared to be in a differant place [i am assuming the dotted blue line is your 200 ma] , so i changed my 200 ema to 200 simple moving average and it appeared in the same place as yours.
I set it to SMA on some charts and EMA to others ( I don't know why I did that, maybe just wanted to see which one price reacted stronger :-). Anyway, pay attention to previous high/low swing is more important and watch price actions. Keep in mind that price could go and bypassed 200ema/sma (if TDI>68 or <32), and took your trade out for -50pips or even -10pips more before it reversed. That's why I reminded traders not to get in a trade while TDI are still in those O/B or O/S areas.
Appreciation is the key to wealth and happiness
  • #12,885
  • Mar 28, 2016 4:05am Mar 28, 2016 4:05am
Quoting likica
{quote} I set it to SMA on some charts and EMA to others ( I don't know why I did that, maybe just wanted to see which one price reacted stronger :-). Anyway, pay attention to previous high/low swing is more important and watch price actions. Keep in mind that price could go and bypassed 200ema/sma (if TDI>68 or <32), and took your trade out for -50pips or even -10pips more before it reversed. That's why I reminded traders not to get in a trade while TDI are still in those O/B or O/S areas.


ok thanks,
out of curiousity though, what time does your h4 candle's start?
i've just realised on my real account a new candle forms at 9AM GMT and then every 4 hours, but on my demo fxcm chart it starts at 10AM GMT

i have a feeling the 10AM GMT is when most people's start...?
I am worried having a candle start at differant times could mess up trades. I took a trade today on my real account, but i looked on my demo account and i would not have taken it if i was just looking at my demo account because price hasn't reached resistance on the h4
  • #12,886
  • Mar 28, 2016 4:19am Mar 28, 2016 4:19am
Quoting kain775
{quote} ok thanks, out of curiousity though, what time does your h4 candle's start? i've just realised on my real account a new candle forms at 9AM GMT and then every 4 hours, but on my demo fxcm chart it starts at 10AM GMT i have a feeling the 10AM GMT is when most people's start...? I am worried having a candle start at differant times could mess up trades. I took a trade today on my real account, but i looked on my demo account and i would not have taken it if i was just looking at my demo account because price hasn't reached resistance on the...
Real acct starts different from Demo from the same broker? I don't have any demo to compare
my new H4 candle started 19min ago which was 5am E.S.T ( I have 3 live currently opening). Are u in any trade right now?
Appreciation is the key to wealth and happiness
  • #12,887
  • Mar 28, 2016 4:38am Mar 28, 2016 4:38am
EN potential?
Attached Image (click to enlarge)
Click to Enlarge Name: 28.3.16 EN M30@S.png Size: 99 KB
Appreciation is the key to wealth and happiness
  • #12,888
  • Mar 28, 2016 4:53am Mar 28, 2016 4:53am
Quoting likica
{quote} Real acct starts different from Demo from the same broker? I don't have any demo to compare my new H4 candle started 19min ago which was 5am E.S.T ( I have 3 live currently opening). Are u in any trade right now?

ok so that means your candle opened 10 AM gmt,
my real account is pepperstone, my demo is fxcm,

tbh ..i really think i need to get off pepperstone, im not happy with them for a number of reasons.

the trade was on eur/cad, i looked to the h4 and noticed price was at a resistance level there, and on the m30 there was divergance and price had just crossed the 10 ema and abp had changed... BUT when i look on my fxcm demo the price on the H4 did not reach the resistance level. As your h4 candle starts at 10AM i doubt you will see the setup ,

anyways i have decided to exit the trade. there is no news coming up for eurcad today and i notice with no news price tends to dilly dally and generally just not go to your TP


i really need to switch to fxcm though..........
dont know why pepperstone are giving me h4 candels at 9am gmt.....
  • #12,889
  • Mar 28, 2016 5:52am Mar 28, 2016 5:52am
gu 50 green ones
Attached Image (click to enlarge)
Click to Enlarge Name: gu.png Size: 38 KB
  • #12,890
  • Mar 28, 2016 6:27am Mar 28, 2016 6:27am
Hi, USDCAD M30.

3 Candle rejection from previous day high and lower low in TDI.

Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD.png Size: 89 KB


Regards.
Decent
Never underestimate your self. You are much more than you think.
  • #12,891
  • Mar 28, 2016 9:20am Mar 28, 2016 9:20am
Quoting Decent
Hi, USDCAD M30. 3 Candle rejection from previous day high and lower low in TDI. {image} Regards. Decent
Hi Decent
your challenge is now to work on winning trades run longer.I have my own way to do it but where you exited nothing was there suggesting you should have...
regards
In trading, you have to be defensive and aggressive at the same time
  • #12,892
  • Edited 9:45am Mar 28, 2016 9:31am | Edited 9:45am
When my trades are under 10EMA on 15 30min charts I let it run.Its that simple.
Notice cluster of resistance on 200EMA
We might see continued Bear pressure until Yellen talks tomorrow and Weds we got ADP and Friday NFP so lot going on this week
Data on consumer Index and spending came out real bad .01 REd so all is not well
and If you are interested on fundamentals I suggest you to read great article on Corporate earnings drop
Which is significant since it dropped dramatically and that goes contrary to what Feds like to do that is raise more rates...

Behind U.S. GDP Data Is Reason for Recession Worry: Weak Profits
I am interested to hear if Yellen may address these weak points on economy tomorrow.So far her partners are very bullish on April hike so its significant what she has to say
Attached Image (click to enlarge)
Click to Enlarge Name: AUDCADM15.png Size: 55 KB
In trading, you have to be defensive and aggressive at the same time
  • #12,893
  • Mar 28, 2016 10:25am Mar 28, 2016 10:25am
Quoting Davit
{quote} Hi Decent your challenge is now to work on winning trades run longer.I have my own way to do it but where you exited nothing was there suggesting you should have... regards
Respected Sir,My bad let me note down it and try to stick with this in future trades. I was set my TP above previous support area but i closed it before hit it, also there is bank holiday and I worried coz market behave strange in holidays.Thank you for your guidelines.Green pips every one.Regardsdecent
Never underestimate your self. You are much more than you think.
  • #12,894
  • Mar 28, 2016 10:39am Mar 28, 2016 10:39am
Quoting Decent
{quote} Respected Sir,My bad let me note down it and try to stick with this in future trades. I was set my TP above previous support area but i closed it before hit it, also there is bank holiday and I worried coz market behave strange in holidays.Thank you for your guidelines.Green pips every one.Regardsdecent
It takes metal fortitude to stay in trades longer.Not easy but only way to overcome losses is to have larger winners.
Most retail traders hang on losses forever and cut winners short...everyone goes through with this until one day you just stop doing it.
Not suggesting you as an example but its typical.
Reason trading is challenging because since we were children we are brainwashed to cheer for winners and scorn at losers and this hard wiring prevents taking a loss early because you may perceive it as personal loss hence may think you are a loser and a failure.So by denying this and hanging on to losing trades it only makes situation worse.. Ironically in order to win in this business we must take losses.There is no way around this because I repeat nobody is 100 accurate.
Trading some say 60% psychology and 40% skill.
Regards

If you have not read this please do
"Trading in the Zone"
In trading, you have to be defensive and aggressive at the same time
  • #12,895
  • Mar 28, 2016 11:31am Mar 28, 2016 11:31am
Quoting kain775
{quote} ok so that means your candle opened 10 AM gmt, my real account is pepperstone, my demo is fxcm, tbh ..i really think i need to get off pepperstone, im not happy with them for a number of reasons. the trade was on eur/cad, i looked to the h4 and noticed price was at a resistance level there, and on the m30 there was divergance and price had just crossed the 10 ema and abp had changed... BUT when i look on my fxcm demo the price on the H4 did not reach the resistance level. As your h4 candle starts at 10AM i doubt you will see the setup ,...

actually on second thoughts, i may be wrong about the times, i've just realised in the UK daylight saving time began yesterday and i didn't realise *facepalm*
  • #12,896
  • Mar 28, 2016 12:11pm Mar 28, 2016 12:11pm
Quoting Davit
{quote} It takes metal fortitude to stay in trades longer.Not easy but only way to overcome losses is to have larger winners. Most retail traders hang on losses forever and cut winners short...everyone goes through with this until one day you just stop doing it. Not suggesting you as an example but its typical. Reason trading is challenging because since we were children we are brainwashed to cheer for winners and scorn at losers and this hard wiring prevents taking a loss early because you may perceive it as personal loss hence may think you are...
Thank You so much for Book reference just downloaded will read it and try to implement in my trading. Good night Thank You.Decent
Never underestimate your self. You are much more than you think.
  • #12,897
  • Mar 28, 2016 12:16pm Mar 28, 2016 12:16pm
Quoting kain775
{quote} actually on second thoughts, i may be wrong about the times, i've just realised in the UK daylight saving time began yesterday and i didn't realise *facepalm*
....and you live in the UK, did you sleep through the whole of yesterday?
  • #12,898
  • Mar 28, 2016 12:58pm Mar 28, 2016 12:58pm
Closed my AC shorts
+183 pips in 5 positions
Attached Image (click to enlarge)
Click to Enlarge Name: AUDCADH1.png Size: 55 KB
In trading, you have to be defensive and aggressive at the same time
  • #12,899
  • Mar 28, 2016 7:52pm Mar 28, 2016 7:52pm
Should it get to upper S/R range I may reload shorts again
Attached Image (click to enlarge)
Click to Enlarge Name: AUDCADM30.png Size: 57 KB
In trading, you have to be defensive and aggressive at the same time
  • #12,900
  • Mar 28, 2016 9:45pm Mar 28, 2016 9:45pm
Quoting Davit
Closed my AC shorts +183 pips in 5 positions {image}
Good timing Davit.
Appreciation is the key to wealth and happiness
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