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TMS for Newbies Part 2

  • #241
  • Apr 12, 2016 3:44am Apr 12, 2016 3:44am
Quoting Lookleft
{quote} The real eelfranz 1st or 2nd candle entry method. Not many people seem to understand that one.
Exactly
  • #242
  • Apr 12, 2016 3:56am Apr 12, 2016 3:56am
Quoting Lookleft
{quote} The real eelfranz 1st or 2nd candle entry method. Not many people seem to understand that one.
I read somewhere in BigE's notes that if the cross looks very good and the PA supports it then the trade can be tried. Probability of success is lower. I will take some entries because I can usually trade my way out of a failure.
If you are good at something, never do it for free--Joker
  • #243
  • Apr 12, 2016 4:16am Apr 12, 2016 4:16am
Quoting jmn5611
{quote} I read somewhere in BigE's notes that if the cross looks very good and the PA supports it then the trade can be tried. Probability of success is lower. I will take some entries because I can usually trade my way out of a failure.
eelfranz was a very aggressive trader and would quite often enter on color change providing everything else fell into place
Not for the learner or anyone with a nervous disposition
Never argue with a fool; onlookers may not be able to tell the difference.
  • #244
  • Apr 12, 2016 4:28am Apr 12, 2016 4:28am
AU H4 - the cross failed a bit after entry but was caught by D1 supp - Davit ranging style here - trading ranges is actually easier 4 TP targets .....
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  • #245
  • Apr 12, 2016 4:35am Apr 12, 2016 4:35am
NU H4 - notice the cross isnt that gr8 but PA was excellent - PA can override TDI sometimes [Phx62] - again a Davit range trade [i get the feel'n this Davit fella knows someting about trading .... ] - i also use a correlation system that is 2 advanced here [its on LK's M30 thread]
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  • #246
  • Apr 12, 2016 4:44am Apr 12, 2016 4:44am
Hey quick question when using apb candles what Price action do you look for what is a good PA setup
  • #247
  • Apr 12, 2016 4:59am Apr 12, 2016 4:59am
EN H4 - now this 1 was tricky - u had 2 pay attention 2 the finer details - a valid 2nd entry but u would have got in around D1 supp&res wit small entry candles - more important the D1 chart was look'n like a poss bounce or cross & was 2 hard 2 tell .... 1 other ting .... EU was look'n like it might slam up and was 2 dangerous - the NZD made the trade - it might run off if EU comes down but @ the time it was 2 dangerous so just the 1 ticket
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  • #248
  • Apr 12, 2016 5:03am Apr 12, 2016 5:03am
Quoting lctrader11
Lastingwell....I appreciate your perspective on trading TFs. If it was up to my personality, I'd be trading lower TFs because I enjoy analyzing and then seeing if I'm right in a reasonable amount of time. But, exercising restraint, and trying to develop discipline to trade H4 & Daily only. But then I fall out of grace with my trade plan (after reading the likes of Davit & Co who seem to be successful somewhere in the middle), and try to apply the same rules in a somewhat faster environment and get the same results. So, the answer to your question....Obviously...
Hi lctrader11
Please allow me to explain myth of H4 trading vs lower TF
You are probably aware some prominent trader keep disrespecting traders trading LT's and yet he advocates looking at LT's for best entries .
This is flip side of someone looking Trading 15-30min charts but looking H4 D as general trend direction.Top down approach.
There is so much bullshit people post is astounding like lower TF's there is more "noise"
If you trade top down analyses noise is nothing more then trades being executed in real time.H4 is nothing more then zooming away from same "noise"
To me noise is called Price Action and the golden nugget here is one should define what kind of noise we are in.Rangy or trendy.Once defined one should be able to exploit it properly.
There is advantage of trading 15 30 min charts which I do.Mainly controlling risk. I can get out 15-20 DD loss and be fine but try getting out of H4 candle that can be 50-100pips.Are you willing to have SL that big? If yes then either you have a huge account or you are going to trade pennies.
Big E from TMS placed his SL top/Bottom of swings and often that covered 100pips or more.Are you comfortable with that?Well if you are then go at it! Best of luck
Regards
In trading, you have to be defensive and aggressive at the same time
  • #249
  • Apr 12, 2016 5:03am Apr 12, 2016 5:03am
Quoting trade786
Hey quick question when using apb candles what Price action do you look for what is a good PA setup
2 basic parts - candles patterns like engulfing/harami/doji etc & how each candle reacts around wat u tink is the important levels like supp&res pivots etc [remember wat LL & Davit say - this is a zone - even thu i use lines same deal] .... hang in there buddy & we will show more
  • #250
  • Apr 12, 2016 5:05am Apr 12, 2016 5:05am
Quoting griffinssoul
{quote} 2 basic parts - candles patterns like engulfing/harami/doji etc & how each candle reacts around wat u tink is the important level [remember wat LL & Davit say - this is a zone - even thu i use lines same deal] .... hang in there buddy & we will show more
Thanx griffinsoul apreciate it
  • #251
  • Apr 12, 2016 5:11am Apr 12, 2016 5:11am
Quoting griffinssoul
AU H4 - the cross failed a bit after entry but was caught by D1 supp - Davit ranging style here - trading ranges is actually easier 4 TP targets ..... {image} {image}
Love you man someone who actually pays attention and turns into $$
great job!
In trading, you have to be defensive and aggressive at the same time
  • #252
  • Apr 12, 2016 5:15am Apr 12, 2016 5:15am
Quoting Davit
{quote} Love you man someone who actually pays attention and turns into $$ great job!
it just makes sense - if the market is rangy most of the time .... then trade it ..... its like we r stating the obvious
  • #253
  • Apr 12, 2016 5:20am Apr 12, 2016 5:20am
EURGBP (M5) +14.7pips.



MM:
MM = 2%.
TP = 15pips.
SL = 10pips.



Happy trading,
Yomi.
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Time always comes before price
  • #254
  • Apr 12, 2016 5:25am Apr 12, 2016 5:25am
Quoting griffinssoul
{quote} update GU H4 - took another PT - 1 left & letting it ride 2 BRN .... well c wat happens from there {image}
update GU H4 - all out - good reation @ BRN .... u r always fight'n fear&greed no matter wat .....
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  • #255
  • Apr 12, 2016 5:25am Apr 12, 2016 5:25am
Quoting fxrabbi
EURGBP (M5) +14.7pips. MM: MM = 2%. TP = 15pips. SL = 10pips. Happy trading, Yomi. {image}
Move started way from the top but its good you got something out it.
In trading, you have to be defensive and aggressive at the same time
  • #256
  • Apr 12, 2016 5:31am Apr 12, 2016 5:31am
GU is approaching some solid R same AU and NU
Lots of data coming out on USD
This could present nice opportunities
AU stalling TDI slowly turning south.Same on GU and NU
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In trading, you have to be defensive and aggressive at the same time
  • #257
  • Apr 12, 2016 5:38am Apr 12, 2016 5:38am
Look at GU hitting 61R to a T
love the pivot indi GU has been ranging for awhile.Note I am just marking potential trades but PA is still bullish and TDI not yet turned.
I like watching potential set ups in the making.
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In trading, you have to be defensive and aggressive at the same time
  • #258
  • Apr 12, 2016 5:47am Apr 12, 2016 5:47am
EG H4 - thought was a head&shoudler[H&S] PA - but it kinda went in a narrow sideways move - BUT! - it could not break above the D1 res & there was a channel wit the W1 res on the BRN [i had SL on the W1 res around 50pips] - on the D1 there was a kink down on the TDI & PA hit the D1 res [as we saw on H4 ]

...i used LK's rule for crosses >68 for TDI
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  • #259
  • Apr 12, 2016 5:50am Apr 12, 2016 5:50am
Quoting griffinssoul
EG H4 - thought was a head&shoudler[H&S] PA - but it kinda went in a narrow sideways move - BUT! - it could not break above the D1 res & there was a channel wit the W1 res on the BRN [i had SL on the W1 res around 50pips] - on the D1 there was a kink down on the TDI & PA hit the D1 res [as we saw on H4 ] {image} {image}
I closed my EG shorts as well but not posting the chart because does not fit TMS (few of my entries were in DD but became $$ later on.)
Nice job!
In trading, you have to be defensive and aggressive at the same time
  • #260
  • Apr 12, 2016 5:52am Apr 12, 2016 5:52am
Quoting Davit
{quote} Move started way from the top but its good you got something out it.
Thank you, notice that too, but only waiting for the price to break the Fibo @0.0%. Thanks for the GRaB indies, it really help.



Happy trading,
Yomi.
Time always comes before price
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