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

  • #601
  • Apr 7, 2016 8:38am Apr 7, 2016 8:38am
Quoting kumetto
{quote} Yes it is.Still subscribed Quick question: what are these settings for ? And do I need to change anything at all?.Thank you {image}
Left that alone.I use weekly pivot only not daily.Make sure that's the case.Weekly pivots lot more powerful.
W1
In trading, you have to be defensive and aggressive at the same time
  • #602
  • Apr 7, 2016 8:45am Apr 7, 2016 8:45am
Quoting billsmith
{quote} going to brush up my scanty knowledge on FIB and Pivots.!!!! could you explain your last sentence, "to me its all about location" or will all be made clear after relearning about fib and pivots?
Its where price is.Certain places I take trades others I avoid
Your GC "cross" TDI h4 was bad location and I explained why
Price is going down now...
Location in terms of pivots and S/R .2 things I always look.
61R 61S strong bounce zone 38R 38S weaker but strong if price is in a range 78S 78R very strong zone 100S/R potential reversal

I suggest create clean pivot template
When you want to take TMS trade throw on the pivot and look to see where price is.That would give you good confluence.By simply doing this readily you start seeing the same patterns come up and you start seeing things you never saw before.Your trading confidence will go up and you will see price action differently.
In trading, you have to be defensive and aggressive at the same time
  • #603
  • Apr 7, 2016 8:49am Apr 7, 2016 8:49am
Quoting Lookleft
Folks, I'm not sure how long a thread in the Recycle Bin stays visible, I assume until Admin hit the 'Empty Recycle Bin' button. So if there are any little gems on the thread that you want to keep I'd copy them somewhere safe. Trade carefully and trade well
looks like it stays month from the dates on all the rest
Would any of the seniors be willing to start a thread and drop by every so often to keep us all on the straight and narrow?
Fib(onacci) my way to glory
  • #604
  • Apr 7, 2016 8:52am Apr 7, 2016 8:52am
Here is an example by location. say your TDI TMS point sell and everything is fine and you take the trade but you take it LATE after the move is done

By throwing a pivot you can see the bounce from 61S and key trade was from weekly pivot.I mean high probability short was from the pivot not at 61S 7489
You see this right? Its about location.



without understanding meaning of location trading crosses and TDI alone in my view is not sufficient enough unless your PA understanding is stellar you will take lots of losers.
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSDH1.png Size: 41 KB
In trading, you have to be defensive and aggressive at the same time
  • #605
  • Apr 7, 2016 8:55am Apr 7, 2016 8:55am
Quoting Tekkies
{quote} Thanks Lookleft You surely know how still a hungry mind Tomorrow my eyes are going to look like a blood shot chart {image}
Lookleft

Thanks for last night advise

Did 16 trades
5 closed because loss was about to exceed the amount prepared to lose
1 closed on profit was - playing around with Cave manager - trying to move to break-even and step profit a certain amount of pips
2 closed in profit SL to close
7 closed in profit - market turned and hit TS
1 is currently fooling around break even
  • #606
  • Apr 7, 2016 9:00am Apr 7, 2016 9:00am
Quoting Davit
Here is an example by location. say your TDI TMS point sell and everything is fine and you take the trade but you take it LATE after the move is done By throwing a pivot you can see the bounce from 61S and key trade was from weekly pivot.I mean high probability short was from the pivot not at 61S 7489 You see this right? Its about location. without understanding meaning of location trading crosses and TDI alone in my view is not sufficient enough unless your PA understanding is stellar you will take lots of losers. {image}
Right... i'll get studying.. still got a lot to learn
Fib(onacci) my way to glory
  • #607
  • Apr 7, 2016 9:03am Apr 7, 2016 9:03am
Example how I see the charts
EC
Not looking for longs at all.Why? Move is done.Looking to sell at 61R where price previously got rejected (yellow boxes for illustration )
Do I care about TDI pointing N and there is cross going up? Nope as far as I am concern Long is low probability trade.
Simple right? We just made correct analyses in seconds

Location not only about where price is but where price is in relation of the swing move.If the swing moved 100pips in pair that usually travels 80 and you want to get in well you are late!Move is done look for another pair.
This thinking should becomes intuitive over time.This will help you reduce taking bad trades and increase your winning average.
Attached Image (click to enlarge)
Click to Enlarge Name: EURCADH1.png Size: 44 KB
In trading, you have to be defensive and aggressive at the same time
  • #608
  • Apr 7, 2016 9:09am Apr 7, 2016 9:09am
Quoting Davit
Example how I see the charts EC Not looking for longs at all.Why? Move is done.Looking to sell at 61R where price previously got rejected (yellow boxes for illustration ) Do I care about TDI pointing N and there is cross going up? Nope as far as I am concern Long is low probability trade. Simple right? We just made correct analyses in seconds Location not only about where price is but where price is in relation of the swing move.If the swing moved 100pips in pair that usually travels 80 and you want to get in well you are late!Move is done look...
makes perfect sense
Fib(onacci) my way to glory
  • #609
  • Apr 7, 2016 9:19am Apr 7, 2016 9:19am
Quoting Davit
Example how I see the charts EC Not looking for longs at all.Why? Move is done.Looking to sell at 61R where price previously got rejected (yellow boxes for illustration ) Do I care about TDI pointing N and there is cross going up? Nope as far as I am concern Long is low probability trade. Simple right? We just made correct analyses in seconds Location not only about where price is but where price is in relation of the swing move.If the swing moved 100pips in pair that usually travels 80 and you want to get in well you are late!Move is done look...
hi Davit,

excellent illustration pf pivots and location.

thank you,

ven
  • #610
  • Apr 7, 2016 9:38am Apr 7, 2016 9:38am
Quoting billsmith
{quote} hummmmm, my TDI wasn't showing such a distinct cross as yours.... that's why i was looking at gbpcad instead
Must be down to broker differences....... I've noticed differences to candle size/formations and TDI crosses on other posts when using H4 timeframe.

My broker uses GMT +2.

This is one of the reasons I favour H1.
A MOUSE THAT ROARS IS STILL NOTHING MORE THAN A MOUSE!
  • #611
  • Apr 7, 2016 9:41am Apr 7, 2016 9:41am
Quoting Davit
Example how I see the charts EC Not looking for longs at all.Why? Move is done.Looking to sell at 61R where price previously got rejected (yellow boxes for illustration ) Do I care about TDI pointing N and there is cross going up? Nope as far as I am concern Long is low probability trade. Simple right? We just made correct analyses in seconds Location not only about where price is but where price is in relation of the swing move.If the swing moved 100pips in pair that usually travels 80 and you want to get in well you are late!Move is done look...
Dont know why things got so sensitive so fast, it was a good thread. The 1st I subscribed.

Davit, thanks for the nugget. Just how do you track pips in a pair? By swings you mean TF swings or HL LH swings?

Cheers
Silence your Ego & Your Power will Rise
  • #612
  • Apr 7, 2016 9:46am Apr 7, 2016 9:46am
Quoting billsmith
{quote} Plus Karado i have just checked you forum post history and last few seem to be particularly aimed at anyone making pips (suffering from account implosion maybe). that is what we are here for, to learn how to make pips and lots of them, not to keep losing over and over.
I have checked your post history as well...and guess what, you appear to be bending over and spreading in quite a few posts. Can you please elaborate on this?
  • #613
  • Apr 7, 2016 9:48am Apr 7, 2016 9:48am
Quoting Karado58
{quote} I have checked your post history as well...and guess what, you appear to be bending over and spreading in quite a few posts. Can you please elaborate on this?
there is a reason i have ignored you...
i don't like getting abusive PM's more than the next person....
Fib(onacci) my way to glory
  • #614
  • Apr 7, 2016 9:59am Apr 7, 2016 9:59am
Quoting mraam
{quote} Dont know why things got so sensitive so fast, it was a good thread. The 1st I subscribed. Davit, thanks for the nugget. Just how do you track pips in a pair? By swings you mean TF swings or HL LH swings? Cheers
Hi Mraam
TMS can be traded 30min as well which I do often even shorter TF's.Higher you go bigger the swings and greater should be your SL
H4 D charts 20-30 pip SL not enough.Question is how big is your account in terms of DD SL and if H4 D tf's are ideal.
I find H4 D not ideal if your account can not withstand 100pip SL. Big E placed his SL outside swing H and L and that often covered 100pips.
People get into systems without much addressing SL question. Is TMSH4 ideal for you?That should be number 1 question to answer otherwise you will lose your money and patience.
Swings generally cover 100pips and crosses 150-200pips.Easier to see this by throwing a zig zag indicator on it.Bigger the TF bigger the swings.
Example D1 swing can have minor swings which I trade often
below H4
then 30M

Today we learned to relax and understand price. Pivots Zig zag are tools same as TDI which is RSI-MA
so nothing is "destroyed here" but we gained knowledge how to see price better.Keep your TMS templete as is from page one! I am not suggesting to change I just try to expend your knowledge because trading is complicated until your knowledge becomes sufficient.
green pips
Attached Image(s) (click to enlarge)
Click to Enlarge Name: AUDCADH4.png Size: 55 KB
Click to Enlarge Name: AUDCADM30.png Size: 43 KB
In trading, you have to be defensive and aggressive at the same time
  • #615
  • Apr 7, 2016 10:14am Apr 7, 2016 10:14am
Quoting Davit
{quote} Hi Mraam TMS can be traded 30min as well which I do often even shorter TF's.Higher you go bigger the swings and greater should be your SL H4 D charts 20-30 pip SL not enough.Question is how big is your account in terms of DD SL and if H4 D tf's are ideal. I find H4 D not ideal if your account can not withstand 100pip SL. Big E placed his SL outside swing H and L and that often covered 100pips. People get into systems without much addressing SL question. Is TMSH4 ideal for you?That should be number 1 question to answer otherwise you will...
Thank you very much for you help and knowledge
i learn something new everyday.
May we all get green pips
Fib(onacci) my way to glory
  • #616
  • Apr 7, 2016 10:19am Apr 7, 2016 10:19am
Quoting Davit
{quote} Hi Mraam TMS can be traded 30min as well which I do often even shorter TF's.Higher you go bigger the swings and greater should be your SL H4 D charts 20-30 pip SL not enough.Question is how big is your account in terms of DD SL and if H4 D tf's are ideal. I find H4 D not ideal if your account can not withstand 100pip SL. Big E placed his SL outside swing H and L and that often covered 100pips. People get into systems without much addressing SL question. Is TMSH4 ideal for you?That should be number 1 question to answer otherwise you will...
Thanks Davit, I can see what youre saying. I realized quickly that same SL rules dont apply across TF's. AussieFX gave some good pointers in this matter too. Do you use any Indi's to track pip movements per se?
Silence your Ego & Your Power will Rise
  • #617
  • Apr 7, 2016 10:23am Apr 7, 2016 10:23am
Quoting billsmith
{quote} Thank you very much for you help and knowledge i learn something new everyday. May we all get green pips
Thanks Bill
I only try to share.I am an artist a painter.To me I can never say I only paint with red and yellow colors.I must have every primary color available.
Trading to me is synthesizing concepts tools and practice over and over until it becomes second nature
regards
In trading, you have to be defensive and aggressive at the same time
  • #618
  • Apr 7, 2016 10:24am Apr 7, 2016 10:24am
Quoting mraam
{quote} Thanks Davit, I can see what youre saying. I realized quickly that same SL rules dont apply across TF's. AussieFX gave some good pointers in this matter too. Do you use any Indi's to track pip movements per se?
I have ADR on my templete

EC dropping like stone now.Would of been a TMS loss trade had you simply blindly took the long based on TDI alone
Attached Image (click to enlarge)
Click to Enlarge Name: EURCADM30.png Size: 43 KB
In trading, you have to be defensive and aggressive at the same time
  • #619
  • Apr 7, 2016 10:30am Apr 7, 2016 10:30am
If anyone wants to go to the new thread, I have started a new one for TMS newbies, I will copy and paste some of the gems from here over to there: http://www.forexfactory.com/showthread.php?p=8860558#post8860558
  • #620
  • Apr 7, 2016 10:36am Apr 7, 2016 10:36am
Quoting Davit
{quote} I have ADR on my templete EC dropping like stone now.Would of been a TMS loss trade had you simply blindly took the long based on TDI alone {image}
Cool. Maybe im looking at the chart you posted differently, but the TDI too is showing a short signal - Its crossed the 68 and green is pointing down.
Silence your Ego & Your Power will Rise
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