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  • #67,901
  • Apr 2, 2016 2:22pm Apr 2, 2016 2:22pm
Yeah, I agree with Mokuro, the hardest thing is the money management and selecting the right R:R. ​

With my job, I will not be able to trade any time frame faster than 4H. So I'm thinking about using 2xATR for my stop loss or swing high/low if that's smaller. And setting my TP as 2xATR. I'm also thinking about using CaveManager Capital Protection so when I'm 50% to my TP to lock in 25% of my TP.

I would love to learn and use ME/ME but I'm a newbie so nowhere near doing it full time so time is limited due to my job. At the moment I think SE/SE would be the best for me but again, like Mokuro said, it's hard to decide where to set TP and SL.
  • #67,902
  • Apr 2, 2016 6:46pm Apr 2, 2016 6:46pm
Quoting satjhangra
Yeah, I agree with Mokuro, the hardest thing is the money management and selecting the right R:R. ​ With my job, I will not be able to trade any time frame faster than 4H. So I'm thinking about using 2xATR for my stop loss or swing high/low if that's smaller. And setting my TP as 2xATR. I'm also thinking about using CaveManager Capital Protection so when I'm 50% to my TP to lock in 25% of my TP. I would love to learn and use ME/ME but I'm a newbie so nowhere near doing it full time so time is limited due to my job. At the moment I think SE/SE...
same.But R:R=1.I think is not suitable.
  • #67,903
  • Apr 2, 2016 7:14pm Apr 2, 2016 7:14pm
I'm having the same trouble with TP. Exiting too soon, missing trends because of fear, but Stop Losses on last bottom (or top) is too risky, hardly ever RR 1:1. This week I'm going to try to follow the trend more and build my position on retracements, where I would otherwise just exit the trade with sub-optimal profits. That ME/ME pdf a couple of pages ago was really helpful with that.

Bridgewater, thanks for the indicator, that is very useful!
  • #67,904
  • Apr 2, 2016 8:09pm Apr 2, 2016 8:09pm
Quoting BridgeWater
Dear TMS Traders, i make an indicator to show: ATR(52) on Weekly chart and, ATR(100) on Daily chart hope it will useful enjoy! {image} {file}
can you add some codes so that I can adjust the poistion,Thx！
  • #67,905
  • Apr 2, 2016 8:14pm Apr 2, 2016 8:14pm
how to use atr in tms?? what is the function of that please tell me.. tq!
  • #67,906
  • Edited Apr 3, 2016 12:17am Apr 2, 2016 8:53pm | Edited Apr 3, 2016 12:17am
Quoting emmanuel7788
{quote} you will have a higher probability to succeed trading TMS on Daily ... read all the 82 posts by eelfranz whom we all call Big E. when you have done reading the 82 post, you will better understand why I trade D1 chart with ME/ME when Big E did not like the Daily because ... (of what) {image}
Hello friends,

First please understand English is not my native language, Portuguese and French are. I'm descendant of French and Brazilian parents. I'll try and point out my thoughts on D1 and H4 trading, as I understand them.

My thoughts on advantages/disadvantages of D1 vs. H4 trading.

Lets assume you are risking 1% MAX of your equity on each trade.

Please correct me if I'm wrong, but:
1) TMS 5-Method's accuracy improves with each higher TF?
2) With each higher TF, the number of "signals" decrease given a specific period?
3) Obviously your safe SL on a D1 is going to require a higher number of pips risked?
4) To maintain the 1% MAX risk, lot size will be reduced accordingly, thus reducing the $ amount potential to a reasonable target.

With the above being said -

D1 trading
Advantages:
1) Easier to manage
2) Signal more accurate

Disadvantages:
1) Much fewer trade signals (given a specific period)
2) No $ amount advantage over H4 (due to 1% MAX risk)
3) Risky to leave position open for long periods of time, especially over the weekends
4) Trading equity tied up


H4 trading
Advantages:
1) Many more trade signals to chose from
2) Safer, shorter exposure to world events

Disadvantages:
1) Less accurate signals

In conclusion, there is no really major advantage to trading Daily chart over a H4, other then signal accuracy?

I would really like your thoughts please!
  • #67,907
  • Apr 2, 2016 11:58pm Apr 2, 2016 11:58pm
Quoting SlamberGamer
how to use atr in tms?? what is the function of that please tell me.. tq!
you need more reading, there are some different ways to use ATR in TMS, H4 swing targeting AWR, ME/ME, etc.
  • #67,908
  • Apr 3, 2016 5:00am Apr 3, 2016 5:00am
Quoting mokuro89
Hi emmanuel, and TMS traders, I'm having a Lot of trouble on deciding Targets, and more than 90% of my trades R:R is bellow 1:1 because of that, I'm usually setting SL's behind last swing or S/R area, but having a hard time on deciding Targets and because of this I'm amost all the times out of the trade before 1:1 RR achieved. would someone please advice me, how can I efficiently chose Targets on H4 swing trades? or even when the market is trending. My biggest problem today is targets. Thanks very much!
@mokuro,

You have already one method to place your inital SL using the last swing high/low of the setup. Fropm your entry price to your Sl will be your trade risk ...R.
Therefore you use that same R to determine your TPs.
There are other chart condition which you need to look at.

see attached.


Quoting tibovwh
{quote} Hi Mokuro, I think you have a couple of options: 1) Original Big E style who is aggressive and does not tolerate any drawdown. You can use the original TDI set to 'Close' and exit trades according to his exit rules. This is more of a scalping style. 2) Single Entry / Multiple Exit You could use something like CaveManager to scale out of trades at certain distances 3) R-multiple concept You can study the R-multiple concept and lock in 1R every time a trade moves 1R in your favor. 4) % of AWR Emmanuel sometimes advocates using a % of AWR for...
@tibovwh,

very good reply.

Quoting satjhangra
Yeah, I agree with Mokuro, the hardest thing is the money management and selecting the right R:R. ​ With my job, I will not be able to trade any time frame faster than 4H. So I'm thinking about using 2xATR for my stop loss or swing high/low if that's smaller. And setting my TP as 2xATR. I'm also thinking about using CaveManager Capital Protection so when I'm 50% to my TP to lock in 25% of my TP. I would love to learn and use ME/ME but I'm a newbie so nowhere near doing it full time so time is limited due to my job. At the moment I think SE/SE...

@satjhangra,

using CaveManager to manage your trades is good. But you need CM to be running all the time when you have open trades.

I think at this moment, you should concentrate with SE/SE trading and focus on getting the best setups to trade.

When you have a day job , trading the higher timeframe Day charts with ME/ME will provide you an alternative to trade will less time required to be online. ME/ME is also good to help you grow your trading account and use that to generate a supplement income to your day job.
Give yourself time to master the 5-Method and then develop that into different systems - 4H swing and D1 Position trading. These will enable you to trade different market conditions.

regards,
Attached File(s)
File Type: pdf SL TP example GBPJPY week 13.pdf   177 KB | 2,571 downloads
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #67,909
  • Apr 3, 2016 5:21am Apr 3, 2016 5:21am
Quoting emmanuel7788
{quote} @mokuro, You have already one method to place your inital SL using the last swing high/low of the setup. Fropm your entry price to your Sl will be your trade risk ...R. Therefore you use that same R to determine your TPs. There are other chart condition which you need to look at. see attached. {quote} @tibovwh, very good reply. {quote} @satjhangra, using CaveManager to manage your trades is good. But you need CM to be running all the time when you have open trades. I think at this moment, you should concentrate with SE/SE trading...
Yeah I agree Emm. Thanks for the help once again.​

I'm going to concentrate on the trade set up and SE/SE like you advised and go from there.

I been reading online about different R:R and win rate and how both can be successful, as long as the one counters the other.

I personally think I'm more suited to a 1:1 RR and a higher win rate, just due to the psychology of having a lot of losing trades would mess with my head lol.

Have you heard of TMS being used with a 1:1 RR and higher win rate and being successful in your time in the thread?

Don't want to be wasting my time if no one has done it in the past.
  • #67,910
  • Apr 3, 2016 7:19am Apr 3, 2016 7:19am
Quoting emmanuel7788
{quote} Well, I made 295pips in weeks 12 and 13 just followed my BPP and trade plan. Next week/month will be good for more pips and money... For catalin eros, my trade entries and exits, below. {image}
Hi emm,

I was wondering what were the factors that made you keep this basket open after 23/3? On my chart I see TDI cross down and APB cross 5EMA/3.

could you give some additional insight into when this would simply be invalidation and cut-loss or when this can be kept open?

Best,
Attached Image (click to enlarge)
Click to Enlarge Name: Schermafdruk 2016-04-03 13.15.51.png Size: 47 KB
  • #67,911
  • Apr 3, 2016 7:24am Apr 3, 2016 7:24am
Quoting tibovwh
{quote} Hi emm, I was wondering what were the factors that made you keep this basket open after 23/3? On my chart I see TDI cross down and APB cross 5EMA/3. could you give some additional insight into when this would simply be invalidation and cut-loss or when this can be kept open? Best, {image}

this post

http://www.forexfactory.com/showthre...07#post8849107

may explain the higher TF ... Weekly
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #67,912
  • Apr 3, 2016 8:28am Apr 3, 2016 8:28am
Quoting satjhangra
{quote} Yeah I agree Emm. Thanks for the help once again.​ I'm going to concentrate on the trade set up and SE/SE like you advised and go from there. I been reading online about different R:R and win rate and how both can be successful, as long as the one counters the other. I personally think I'm more suited to a 1:1 RR and a higher win rate, just due to the psychology of having a lot of losing trades would mess with my head lol. Have you heard of TMS being used with a 1:1 RR and higher win rate and being successful in your time in the thread?...
http://www.forexfactory.com/showthre...45#post8272245
Finish one half month study on the forum.Have a rest.
http://dailypriceaction.com/free-tra...age-true-range
this one will help all newbies likes me knows the reason why we use ATR or ADR as Sl，TP
Attached Image (click to enlarge)
Click to Enlarge Name: average-true-range-of-gbpaud.png Size: 30 KB
As you can see from the chart above, GBPAUD likes to move about 150 to 200 pips a day on average. This is great information to have when evaluating a potential blind entry.
But this still doesn’t answer the question – how could we have known that a move back above the key level was unlikely? In other words, how could we have known that a blind entry to sell this market was a favorable setup?
Here’s your answer…
Attached Image (click to enlarge)
Click to Enlarge Name: sell-limit-order.png Size: 22 KB

Notice in the chart above that the market had moved down to the low of day before moving back to retest the key level. This is what made a blind entry favorable. The fact that the market would have to move 220 pips just to get back to retest the former support level as new resistance.
Study this chart a few times if you have to as this is the key to using average range to your advantage. Even if the market had made a bullish move of 300 pips that day, which was extremely unlikely, we would have been left with an 80 pip loss (300 – 220). That may sound bad until you factor in the potential reward of 350 pips, giving you a 4.37R trade, or an 8.74% profit if risking 2%.
As we noted above, GBPAUD likes to move between 150 and 200 pips each day. By using the concept of average range, we could easily deduce that a move past the 220 pips necessary to retest the key level was unlikely, thus giving favor to a blind entry.
  • #67,913
  • Apr 3, 2016 9:05am Apr 3, 2016 9:05am
Big thank you for all participating in this post, specially Emmanuel! Everytime I come here to check something, I leave with a lot of 'homework' to do to become a better trader =)

One doubt keeps presenting itself to me as I analyse the last M and W candles:
Sometimes (in this case, some of the AUD pairs) there will seem to be a triangle situation. Main trend appears to be BEARISH, but last M or W candles are BULLISH (or at least ambiguous). To make matters more complicated, AUD/USD seems to have closed the week above last WRB (in the graph attached I have made a blue line indicating what, to me, could be this range).

So, should I look for LONG or SHORT trades? Or just wait it out? ;P

Thanks again!
Attached Image (click to enlarge)
Click to Enlarge Name: audusd bull or bear 03-04-16.png Size: 167 KB
  • #67,914
  • Apr 3, 2016 11:54am Apr 3, 2016 11:54am
Quoting gdfaria
Big thank you for all participating in this post, specially Emmanuel! Everytime I come here to check something, I leave with a lot of 'homework' to do to become a better trader =) One doubt keeps presenting itself to me as I analyse the last M and W candles: Sometimes (in this case, some of the AUD pairs) there will seem to be a triangle situation. Main trend appears to be BEARISH, but last M or W candles are BULLISH (or at least ambiguous). To make matters more complicated, AUD/USD seems to have closed the week above last WRB (in the graph attached...
The chart you posted is bullish, swing high not tested yet and so is the tl you drawn
the cautious seldom err....C
  • #67,915
  • Apr 3, 2016 6:28pm Apr 3, 2016 6:28pm
Thanks for contributing!

After reading a lot of good thing in this post, here are some thoughts for this week on pairs that seem worth trading; everybody, feel free to comment, specially if you disagree and/or have solutions for the 'problems' I present:

EUR/GBP:
BULLISH, just got out of last WRB in last daily bar. Wait for retracement to get in.

GBP/AUD:
Bearish trend. 2 problems: small volatility and indicators in oversold position.

NZD/JPY:
seems to be at a high point in a sideways-range (and inside a longer term downtrend). Could be an opportunity to build a bearish position. Problem: previous weekly candle is green.

USD/CAD:
Downtrend in weekly chart, could present good opportunities in retracements.
  • #67,916
  • Apr 3, 2016 6:48pm Apr 3, 2016 6:48pm
Quoting gdfaria
Big thank you for all participating in this post, specially Emmanuel! Everytime I come here to check something, I leave with a lot of 'homework' to do to become a better trader =) One doubt keeps presenting itself to me as I analyse the last M and W candles: Sometimes (in this case, some of the AUD pairs) there will seem to be a triangle situation. Main trend appears to be BEARISH, but last M or W candles are BULLISH (or at least ambiguous). To make matters more complicated, AUD/USD seems to have closed the week above last WRB (in the graph attached...

Hi,

I stay on the buyer side. Weekly is bullish.
Technically it can be choppy between 0.7600 and 0.7900. So I am prepared for any correction of last week's bull rally. But that rally broke the previous week inside bar.
any bearish reversal can only be seen with weekly price action and also look for bearish chart patterns on daily. This may take many days and weeks.
On our trading charts - H4 and D1 , we look for the TMS 5-Method setups at the CONFLUENCE of various support and resistance. Watch out for those BRN 00 and RN 50 levels.
For those 4H swing traders, the average weekly raneg is between 185 and 200 pips. Just watch when this range get exhausted during the week and do not chase it higher. We can trade bearish price swing on H4 but always have this average weekly range in mind. When market goes narrow range sideways, the swing high to swing low is about 40% of that average weekly range. Be conservative and have realistic targets for your TPs.

Trade Well and Trade Safe.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #67,917
  • Apr 3, 2016 7:01pm Apr 3, 2016 7:01pm
Quoting gdfaria
Thanks for contributing! After reading a lot of good thing in this post, here are some thoughts for this week on pairs that seem worth trading; everybody, feel free to comment, specially if you disagree and/or have solutions for the 'problems' I present: EUR/GBP: BULLISH, just got out of last WRB in last daily bar. Wait for retracement to get in. GBP/AUD: Bearish trend. 2 problems: small volatility and indicators in oversold position. NZD/JPY: seems to be at a high point in a sideways-range (and inside a longer term downtrend). Could be an opportunity...

I see strong AUD, CAD and also NZD.

EUR fought back previous weeks afte ECB rates and with weaker GBP, we buy EURGBP.

Bearish outlook for GBPAUD, GBPCAD and GBPNZD.... stay on seller side.

I stay away from EURAUD. EURCAD and alsp EURNZD until they start to trade outside the range of the ECB Mar 10 Day candle. Trade the weaker GBP against this crosses.

Remember trade only when there are H4 and D1 setups on your TMS 5-Method trading charts. Always trade with stop loss in place, be prepared to cut your losses short. Have a Plan A and a Plan B for every trade plan you have in mind.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #67,918
  • Edited 8:09pm Apr 3, 2016 7:39pm | Edited 8:09pm
Quoting leescofield
{quote} http://www.forexfactory.com/showthre...45#post8272245 Finish one half month study on the forum.Have a rest. http://dailypriceaction.com/free-tra...age-true-range this one will help all newbies likes me knows the reason why we use ATR or ADR as Sl，TP {image}As you can see from the chart above, GBPAUD likes to move about 150 to 200 pips a day on average. This is great information to have when evaluating a potential blind entry. But this still doesnt answer the question ...


Hi leescofield.

I like your post especially how the use of 'blind orders' based on the chart's Price Action.

The ATR has many uses in our trading and traders must learn what it is and how to use that effectively when we trade with TMS 5-Method.

When I trade the Day chart, I use the ATR(100) days for Position Building after a TMS setup for entry. using 0.5ADR as grid levels to add-on trades to build up to one full position in the market. The risk is small trading this way, usually I don;t risk more than 1% for one full position and trade with small lots using 0.2% risk per trade adding to maximum 5 trades (5 x 0.2% = 1%) during any retracement after my trade entry. This way we don't miss the trade setup entry in event when there is no retracement.

using that same chart posted by leescofield, the same chart below shows how we can based our entry on a TMS setup and not miss the trade.

Attached Image (click to enlarge)
Click to Enlarge Name: Use Blind Order or Position Building.png Size: 126 KB


Now we have another way how to trade the price action with TMS 5-Method - Blind order or Position Building.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #67,919
  • Apr 4, 2016 1:46am Apr 4, 2016 1:46am
Quoting gdfaria
Thanks for contributing! After reading a lot of good thing in this post, here are some thoughts for this week on pairs that seem worth trading; everybody, feel free to comment, specially if you disagree and/or have solutions for the 'problems' I present: EUR/GBP: BULLISH, just got out of last WRB in last daily bar. Wait for retracement to get in. GBP/AUD: Bearish trend. 2 problems: small volatility and indicators in oversold position. NZD/JPY: seems to be at a high point in a sideways-range (and inside a longer term downtrend). Could be an opportunity...
Aware SR on weekly EG
Attached Image (click to enlarge)
Click to Enlarge Name: 04.04_EG.png Size: 100 KB
  • #67,920
  • Apr 4, 2016 2:46am Apr 4, 2016 2:46am
Quoting makron
{quote} Aware SR on weekly EG {image}

yup, I saw that.
EG now consolidates at BRN 0.8000 on H4.
it can pull back to 0.7950 or even lower 0.7930.
look at those H4 WRBs....'hidden gems'
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
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