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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

  • #401
  • Mar 30, 2016 2:40am Mar 30, 2016 2:40am
Quoting griffinssoul
{quote} i would take dat trade every time win or lose .... ideally for noobs u wait for a below 50 entry but i can see tings dat would get me in but fast - meaning the aggressive entry 4 dis one ...... BUT! ..... dont jump the gun ..... first just practice crosses
Yes, taking one small step at a time.. i need to make sure I get the crosses right! Thanks for your input
  • #402
  • Mar 30, 2016 3:08am Mar 30, 2016 3:08am
Quoting lctrader11
ven16 - this is not related to TMS but I just want to ask senior traders in OANDA (http://www.forexfactory.com/brokers.php?broker=oda) chart it is showing 6 day candles per week but in FXCM (http://www.forexfactory.com/brokers.php?broker=fcm) it is showing 5 day candles per week in this way i am confusing some times 4Hr bars showing different lengths and different starting timings and also even TDI showing different. May i know which broker is correct? Hey Ven, I have Oanda as well and I'm using 5-day NY Close charts. These...
thank you for your reply...but I am using OANDA Demo platform. that is why i have only access to GMT-5 which is 6 day candles per week.

regards,
  • #403
  • Mar 30, 2016 8:56am Mar 30, 2016 8:56am
Quoting griffinssoul
{quote} every pair u can put a TDI on .... the idea is to get trading experience in TMS on demo first [trade every H4 cross that meets rules] then the next steps involve more details .... there is no particular pairs that r TMS pairs anyways .... TMS can be used on any pair & index & commodities & metals etc.... you may discover dat u want to trade only 1 pair like the legendary Phx62 [the most successful TMS trader of all time]
Thank you for responding griffinssoul.
I have the collection of Phx62's posts, indeed beyond legendary!
  • #404
  • Mar 30, 2016 9:22am Mar 30, 2016 9:22am
got green pips on EURUSD - could have got more but it hit my TP so i am happy
i'll have to eat chocolate
http://www.forexfactory.com/showthread.php?p=8842180#post8842180
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Fib(onacci) my way to glory
  • #405
  • Mar 30, 2016 10:06am Mar 30, 2016 10:06am
i am not sure what to call this a gripe/bone to pick/annoyance but i have been receiving PM's from newbies (you know who you are - no hard feelings to you) this is why this thread is here so that newbies like me (and you) can get help.
ask your questions here and you will far more help then i will ever be able to give you - don't be scared to post and ask questions or post charts. when i look back at some of my posts and see the questions i asked i feel a bit stupid - but what ever i asked always got answered with top advice.
do not be shy/scared of what others will think of you.
ask and it shall be given up to you
Mr aussiefx always gives very detailed answers.
this thread is to turn a newbie in to a confident TMS trader
green pips to you all
P.S i am NOT an expert i am still very much learning
Fib(onacci) my way to glory
  • #406
  • Mar 30, 2016 10:17am Mar 30, 2016 10:17am
Hi everyone,

Apologies for not actively participating on the thread at the moment. I would like to thank every one who was involved with TMS for quiet some time now and helping the newbies with questions, I really appreciate your time.

After waiting for nearly 2 weeks for any good setup (Although having few losing trades on H1 timeframe and yes my previous GJ trade end up a loser). I could manage to get one trade this morning on USDCAD.

USDCAD Daily (End of the day Entry)
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Attached Image (click to enlarge)
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Reading pure price action and implementing TDI with it will give you an edge on your trading and it is also great for someone who don't like APB's and have their own strategy that they trade.

USDCAD Daily Japanese Candles Chart
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Entry with pure PA would have given you extra 100 pips and entry with TDI as shown above with keeping your Profit target at structure would have given you 130 pips for the day.


Gif version of the trade for someone who wants to see the before and after TDI angle of USDCAD trade
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Kindest regards
  • #407
  • Mar 30, 2016 12:35pm Mar 30, 2016 12:35pm
Quoting billsmith
i am not sure what to call this a gripe/bone to pick/annoyance but i have been receiving PM's from newbies (you know who you are - no hard feelings to you) this is why this thread is here so that newbies like me (and you) can get help. ask your questions here and you will far more help then i will ever be able to give you - don't be scared to post and ask questions or post charts. when i look back at some of my posts and see the questions i asked i feel a bit stupid - but what ever i asked always got answered with top advice. do not be shy/scared...
And you know what my gripe is ? I am not able to catch the breakouts because either I am sleeping or I am at work.
Would you (this is more of an open to all question) recommend using the Metatrader mobile app ? I have tried to configure the TDI but not too sure if it looks the same as the synergy TDI on my home PC. Need advise on this big time.
I can't keep standing around watching all you big guys cleaning up the pips
Live life king size !
  • #408
  • Mar 30, 2016 12:44pm Mar 30, 2016 12:44pm
foxtrader16
i trade 8am-5pm EST - this means i focus on M30 and H1 for entries - not sure your hours but you can try and trade LO ( it will mean waking up early!!!!)
as for the TDI - i believe it is made up of RSI and an MA - i think the trading made simple thread shows you how to make your own "TDI"
someone else could confirm this?
Fib(onacci) my way to glory
  • #409
  • Mar 30, 2016 1:10pm Mar 30, 2016 1:10pm
Quoting foxtrader16
{quote} And you know what my gripe is ? I am not able to catch the breakouts because either I am sleeping or I am at work. Would you (this is more of an open to all question) recommend using the Metatrader mobile app ? I have tried to configure the TDI but not too sure if it looks the same as the synergy TDI on my home PC. Need advise on this big time. I can't keep standing around watching all you big guys cleaning up the pips
Use the H4 format and set an alarm. If you are at work, you can also have your home pc send you email alerts.

Quoting billsmith
foxtrader16 i trade 8am-5pm EST - this means i focus on M30 and H1 for entries - not sure your hours but you can try and trade LO ( it will mean waking up early!!!!) as for the TDI - i believe it is made up of RSI and an MA - i think the trading made simple thread shows you how to make your own "TDI" someone else could confirm this?
If you are good at something, never do it for free--Joker
  • #410
  • Mar 30, 2016 1:14pm Mar 30, 2016 1:14pm
Quoting billsmith
foxtrader16 i trade 8am-5pm EST - this means i focus on M30 and H1 for entries - not sure your hours but you can try and trade LO ( it will mean waking up early!!!!) as for the TDI - i believe it is made up of RSI and an MA - i think the trading made simple thread shows you how to make your own "TDI" someone else could confirm this?
Billsmith,
I reside in the EST time zone. LON session starts at 3AM / 4AM depending on day light savings (DST).
I have tried to do it. Then I leave for work which is from 8AM to 6PM.
Also I have configured the mobile MT based on the parameters I got from FF.
Live life king size !
  • #411
  • Mar 30, 2016 1:20pm Mar 30, 2016 1:20pm
Quoting jmn5611
{quote} Use the H4 format and set an alarm. If you are at work, you can also have your home pc send you email alerts. {quote}
I will have to work on the MT alert system. Thank you Jmn for suggesting that.
And yes, I am focusing on the H4 TF.
I will have to figure out how to practice my "hobby" around my daily life till I am ready to cut the chord (if at all that should happen).
Live life king size !
  • #412
  • Mar 30, 2016 1:21pm Mar 30, 2016 1:21pm
Quoting foxtrader16
{quote} I will have to work on the MT alert system. Thank you Jmn for suggesting that. And yes, I am focusing on the H4 TF. I will have to figure out how to practice my "hobby" around my daily life till I am ready to cut the chord (if at all that should happen).
If you keep studying and learning price action, you will cut the chord soon enough. We are here for you folks.
If you are good at something, never do it for free--Joker
  • #413
  • Mar 30, 2016 1:25pm Mar 30, 2016 1:25pm
Quoting foxtrader16
{quote} Billsmith, I reside in the EST time zone. LON session starts at 3AM / 4AM depending on day light savings (DST). I have tried to do it. Then I leave for work which is from 8AM to 6PM. Also I have configured the mobile MT based on the parameters I got from FF.
ummmm... get a new job - JK
if you check for set ups before you leave for work you should get one good one on Tuesday, Wednesday and Thursday - (Mondays and Fridays can be a bit flat) and then just check your trades at work rather than trying to place trades during work time??? not sure what to say....
Fib(onacci) my way to glory
  • #414
  • Mar 30, 2016 2:31pm Mar 30, 2016 2:31pm
Quoting MrAussieFX
Hi everyone, Apologies for not actively participating on the thread at the moment. I would like to thank every one who was involved with TMS for quiet some time now and helping the newbies with questions, I really appreciate your time. After waiting for nearly 2 weeks for any good setup (Although having few losing trades on H1 timeframe and yes my previous GJ trade end up a loser). I could manage to get one trade this morning on USDCAD. USDCAD Daily (End of the day Entry) {image} {image} Reading pure price action and implementing TDI with it will...
thank you
Fib(onacci) my way to glory
  • #415
  • Mar 30, 2016 3:08pm Mar 30, 2016 3:08pm
Quoting billsmith
{quote} ummmm... get a new job - JK if you check for set ups before you leave for work you should get one good one on Tuesday, Wednesday and Thursday - (Mondays and Fridays can be a bit flat) and then just check your trades at work rather than trying to place trades during work time??? not sure what to say....
Good idea. Let me work on it.
Live life king size !
  • #416
  • Mar 30, 2016 3:34pm Mar 30, 2016 3:34pm
took 2 trades today - one hit sl and the other i closed manually for BE - going over charts for end of day analysis i missed a couple of good trades the best being Usdcad - still learning to recognize set ups as they occur NOT after....sigh
green pips for tomorrow
happy pippin
Fib(onacci) my way to glory
  • #417
  • Mar 30, 2016 3:35pm Mar 30, 2016 3:35pm
Hey guys, I posted this in the main TMS thread because I was quoting a post of Eelfranz, but I think it got lost in some busy posting over there, so am posting it here in the hopes someone could chime in on my questions;

Quoting eelfranz (http://www.forexfactory.com/showthread.php?p=4575913#post4575913)
2scoops... When I see a tweek... I look for: 1. Are the candles getting smaller 2. Are the wicks starting to pull back more 3. Are we getting close to a supp/res level. 4. Is my green TDI line getting close to previous highs or lows on my TDI. Those kind of things... being observant... Come on scoops old buddy.. I check on any time frame I'm trading... and at night when nature calls I pop on the puter and take a quick look... Scoops thanks for asking the question...

I am still trying to learn the TMS basics and I would like to ask a question about points 2 and 4 above so I can better understand what to look for ?

1) This really useful 4 point list above suggests to me that these 4 are things we can look at to determine when to consider getting out of our current TMS trade, so that implies to me this is a list of 'beware of' items, however my (still very basic) understanding of candlesticks is that if you have a bullish candle with no wicks then that is MORE bullish than the same candle with wicks. How does this reconcile with the point 2 above that if the wicks are pulling back I should consider getting out of the trade. Do I have this the wrong way round and that if your wicks are pulling back that is an indication to stay in the trade?

2) Point 4 : Is it really relevant to consider support and resistance in the TDI window? I am slowly getting to grips with the idea of using supp/res lines on the top window with APB bars (my small backtesting so far shows this really seems to have an effect), but when I look at how the green TDI line is constructed - it is an moving average of RSI (which is itself a mathematical calculation applied to 2 other averages of closing prices). An average of 2 other averages ... can we consider previous support and resistance of such a 'manipulated' line have a relevant affect on current price movement? I have only done a year of backtesting on 2 x 4H currency pairs so far but I am struggling to see previous TDI highs and lows being relevant. Is this because my test set is still too small or am I right in guessing I should just be using the main 'pure' PA window for support/resistance levels?

Any insight would be appreciated!
Thanks
  • #418
  • Mar 30, 2016 3:40pm Mar 30, 2016 3:40pm
Quoting billsmith
took 2 trades today - one hit sl and the other i closed manually for BE - going over charts for end of day analysis i missed a couple of good trades the best being Usdcad green pips for tomorrow happy pippin
Bad luck on that. But do you want to share your analysis with a picture ?
I think we learn more from our failures.

Quoting foxtrader16
{quote} Bad luck on that. But do you want to share your analysis with a picture ? I think we learn more from our failures.
And yeah! All the best tomorrow.
Live life king size !
  • #419
  • Mar 30, 2016 3:57pm Mar 30, 2016 3:57pm
Quoting foxtrader16
{quote} Bad luck on that. But do you want to share your analysis with a picture ? I think we learn more from our failures. {quote} And yeah! All the best tomorrow.
this is embarrassing!!!!! ( i do like to look for entries on m30 and H1 charts to try and get in earlier on the trade)
GBPCAD - entered late in hope of 10-30 pips in trade a couple of hours and wasn't going anywhere so i exited at BE (Didn't want to be stuck in it overnight)
CHFJPY
at the moment i set sl at ATR (14) as seen on my chart and tp at 200% .
i foolishly tightened my sl before price had gone 1 atr in green pips (my trading strategy) - price retraced and hit it (and look where it went) - i didn't get back in just used the loss to hammer home the fact of DON'T move my SL (and that my analysis was right) - would have been up 30 pips if i hadn't (basically i didn't follow my trading strategy)
hope this helps
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Fib(onacci) my way to glory
  • #420
  • Mar 30, 2016 4:51pm Mar 30, 2016 4:51pm
Hello Guys

yesterday (London's Time) i have made three entries (AUDUSD, EURUSD and GBPNZD).
In de beginning i thought that i had made wrong choices. But now i think i will make a good pips.

I have followed the pairs AUDUSD, EURUSD, GBPUSD, USDCAD, AUDJPY, EURJPY, USDJPY GBPAUD and GBPNZD.
Firstly i look for the crossing green line and red line and then i look for the angle of the yellow line. Like the rules.
Monitoring the graphs for four in four hours, after the ending of the last 4 hour and saw the evolution of the D1. If conditions D1=H4 then i trade.


Thank's all guys who introduced some post in this forum and many thank's to Mr. MrAussieFX.

You are the guy that i needed to understand things and win some pips. I was tired of losing and saw pips fly to other places/traders!!
From now, returned the necessary motivation to not give up to learn and try to win some pips.

Good trades for everyone
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