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TMS for Newbies Part 2

  • #381
  • Apr 13, 2016 8:19am Apr 13, 2016 8:19am
Quoting josh11
{quote} You got it, be careful trading against daily TF.
Thanks for your feedbacks.
With the avalanche of news coming out I took whatever I could grab and closed all my trades.
Live life king size !
  • #382
  • Apr 13, 2016 8:30am Apr 13, 2016 8:30am
Quoting billsmith
{quote} thanks thats true about the mind, i guess all the bad trading i did before tms has got to me still struggling to completely trust it even though i can see it works.
its a never ending struggle i guess but learning more about urself as a trader helps IMO .... fear ....

Inserted Video
  • #383
  • Apr 13, 2016 8:59am Apr 13, 2016 8:59am
Griffin thanks for sharing the video. I have a similar one for you:

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  • #384
  • Edited 9:24am Apr 13, 2016 9:03am | Edited 9:24am
Quoting foxtrader16
This is a trade I missed. It is on and I have no clue at what point I should get in. The good ole me would have just jumped in without thinking. But having been in the company of you all guys and gals I have now started to "think". I have put in a red vertical line where I would have ideally liked to be in. Tips and pointers will be appreciated. USDJPY H4 BUY {image}
Hello foxtrader 16, I see Josh11 has already responded to you. He has a red diamond and I don't. My two penn'orth: After the divergence and the lack of a clutch of strong rejection wicks (which seem to be the advance warning of a rapid ascent) I would be looking for HL but more distinctive than the one that Josh has pointed out, a bit away from the spike that made the divergence. Likica's opinion would be very educational for you.
K
Edit: I'm also keen on a trendline (that lines up exactly with 3 highs in a downtrend) break before or within the bar that closes outside the PAC.
Attached Image (click to enlarge)
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Edit: My apologies. There IS a 3-point trend line break in the bar that closes outside the PAC.

Attached Image (click to enlarge)
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Thanks for your help, warmth and straight talking Heather.
  • #385
  • Apr 13, 2016 9:07am Apr 13, 2016 9:07am
Quoting griffinssoul
{quote} its a never ending struggle i guess but learning more about urself as a trader helps IMO .... fear .... https://www.youtube.com/watch?v=6Bap05qOEjE
thank you very much.
P.S. she reminds me of...!!!(to look at )
https://s-media-cache-ak0.pinimg.com...b6e742615f.jpg
Fib(onacci) my way to glory
  • #386
  • Apr 13, 2016 9:25am Apr 13, 2016 9:25am
could we be looking for the sideways market to continue? or am i to late into the cycle to look for it to continue?
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Fib(onacci) my way to glory
  • #387
  • Apr 13, 2016 9:44am Apr 13, 2016 9:44am
Quoting TheRock
{quote} Closed for 35pips.​ EDIT: Can't believe at the start of 2016, I didn't even know what forex was! Thank you to everyone for all your advice and help. {image}
Very impressing how fast u been able to learn. Brings me hope

What risk reward ratio do you have you been able to get so far on your trades ?

Best regards
  • #388
  • Apr 13, 2016 9:52am Apr 13, 2016 9:52am
Quoting billsmith
could we be looking for the sideways market to continue? or am i to late into the cycle to look for it to continue? {image}
It looks like you are using the APB with the changing wicks. The highest gray wick and the lowest one defines the range. I would wait for a close above or below that to consider a trade.
If you are good at something, never do it for free--Joker
  • #389
  • Apr 13, 2016 10:08am Apr 13, 2016 10:08am
Quoting jmn5611
{quote} It looks like you are using the APB with the changing wicks. The highest gray wick and the lowest one defines the range. I would wait for a close above or below that to consider a trade.
ok, thank you
Fib(onacci) my way to glory
  • #390
  • Apr 13, 2016 10:54am Apr 13, 2016 10:54am
Quoting JayS45
Hi everyone first of all I want to say i'm loving the thread just what we all need. Second I have a question for Davit. Regarding yr pivots, if I am on H4 should I be looking at Daily, Weekly or Monthly levels or what is the timeframe to change the pivot levels. Sorry if this has been posted I didn't see it anywhere here or on babypips.
Weekly pivot is based on 1 week and changes after.
Pivots once again are road maps to navigate better.Your trading style is independent of pivots.30min is same as daily in terms of weekly pivot.Price will react irregardless what TF you are looking at it.
Look below.Price hit 100R and turned.Does not matter how I looked at it.
What I am sharing here is a goldmine and only few will realize it.I am saying this without any ego.I know the value in terms of $$
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In trading, you have to be defensive and aggressive at the same time
  • #391
  • Apr 13, 2016 10:56am Apr 13, 2016 10:56am
is everything sideways today or is it just me?
Fib(onacci) my way to glory
  • #392
  • Apr 13, 2016 11:13am Apr 13, 2016 11:13am
Waaayy too much red news...people are sitting on the sidelines waiting for things to settle down.
  • #393
  • Apr 13, 2016 11:24am Apr 13, 2016 11:24am
Not really had time to trade today but here is a good one I missed and would take every time.

I've used japanese candles on h4 so its easier to see. On H4 price was rejected from last weeks low with an inverted hammer (bar before the vertical line) and the tdi had flattened out and started to angle up at the time. The 4hr tdi had started to move up but hadn't crossed on H1, I would have taken the buy where the vertical line is on H1 when price closed back above the support and previous daily low. Price had also made a higher low on h1, I wouldn't have been bothered about the daily open line because price had managed to go through it easily enough 3 times already today so not really strong support or resistance. On H1 I usually go for 50 pips unless price is moving fast and it actually moved 84 pips up.
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  • #394
  • Apr 13, 2016 11:35am Apr 13, 2016 11:35am
Quoting lastingwell
Not really had time to trade today but here is a good one I missed and would take every time. I've used japanese candles on h4 so its easier to see. On H4 price was rejected from last weeks low with an inverted hammer (bar before the vertical line) and the tdi had flattened out and started to angle up at the time. The 4hr tdi had started to move up but hadn't crossed on H1, I would have taken the buy where the vertical line is on H1 when price closed back above the support and previous daily low. Price had also made a higher low on h1, I wouldn't...
Perfect range chart. PA between 38R and 38S since April 1
Missed it myself cause I don't trade G crosses but you are making me question my decision.
would of preferred selling from 38R
In trading, you have to be defensive and aggressive at the same time
  • #395
  • Apr 13, 2016 11:36am Apr 13, 2016 11:36am
Quoting Davit
{quote} Weekly pivot is based on 1 week and changes after. Pivots once again are road maps to navigate better.Your trading style is independent of pivots.30min is same as daily in terms of weekly pivot.Price will react irregardless what TF you are looking at it. Look below.Price hit 100R and turned.Does not matter how I looked at it. What I am sharing here is a goldmine and only few will realize it.I am saying this without any ego.I know the value in terms of $$ {image}
Hi Davit,
Trying to learn more of the pivot point and would like to ask your opinion in this.
From the below charts, I see that the price is hitting 100S. From the H1 chart, TDI is crossing. In fact as of now, the candle bar has turned blue.
However, the TDI is now below 32, and H4 chart has actually have not give any signal yet.
Will this be a buy signal for you at this point? or should i ask when will it be a valid buy signal?

H4 chart:
Attached Image (click to enlarge)
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H1 chart:
Attached Image (click to enlarge)
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Thanks for the advise in advanced
  • #396
  • Edited 12:03pm Apr 13, 2016 11:51am | Edited 12:03pm
Quoting theboringguy
{quote} Hi Davit, Trying to learn more of the pivot point and would like to ask your opinion in this. From the below charts, I see that the price is hitting 100S. From the H1 chart, TDI is crossing. In fact as of now, the candle bar has turned blue. However, the TDI is now below 32, and H4 chart has actually have not give any signal yet. Will this be a buy signal for you at this point? or should i ask when will it be a valid buy signal? H4 chart: {image} H1 chart: {image} Thanks for the advise in advanced
Can it go higher from this point? Yes but Red H4 D suggest more bear action however fundamentally US economy is printing shitload of red numbers which would halt April hike most likely.
I am at sidelines now.Asia could make the move.
ATM trading range on NU AU
In trading, you have to be defensive and aggressive at the same time
  • #397
  • Apr 13, 2016 12:07pm Apr 13, 2016 12:07pm
Hey everyone,

I just wanted advice on what pairs to trade. I want to only have to look at between 6-10 pairs.

If you all had only 6-10 pairs to trade, which ones would they be?

And is there any reason you choose certain pairs over others?
  • #398
  • Apr 13, 2016 12:35pm Apr 13, 2016 12:35pm
Quoting TheRock
Hey everyone, I just wanted advice on what pairs to trade. I want to only have to look at between 6-10 pairs. If you all had only 6-10 pairs to trade, which ones would they be? And is there any reason you choose certain pairs over others?
</pCheck post #5>
  • #399
  • Apr 13, 2016 12:43pm Apr 13, 2016 12:43pm
Quoting TheRock
Hey everyone, I just wanted advice on what pairs to trade. I want to only have to look at between 6-10 pairs. If you all had only 6-10 pairs to trade, which ones would they be? And is there any reason you choose certain pairs over others?
Slower ADR pairs which are all majors and EG
In trading, you have to be defensive and aggressive at the same time
  • #400
  • Apr 13, 2016 1:11pm Apr 13, 2016 1:11pm
Quoting jgadefelth
{quote} Very impressing how fast u been able to learn. Brings me hope What risk reward ratio do you have you been able to get so far on your trades ? Best regards
To be honest, I am completely new to forex, so I'm still at the beginning of the learning curve. I haven't been really paying attention to risk and reward at the moment, I've just been looking at charts where I would've taken trades and see what happens from when I enter or would've entered.

What I plan to do over the coming weeks is to use a 1:1 risk to reward ratio using 1.5xATR.

As long as I achieve a good win rate, I will be profitable, so my main task is going to be looking for very good setups to make sure I have a good strike rate.

I'm going to use a cent account so I will be live trading with a very small amount of money to get a feel for it and I plan to track my progress using myfxbook.

If I'm doing well, I will share the link for it. If I don't, I'll edit this post and get rid of the bit where I mentioned myfxbook

EDIT: I'm also going to be only risking 0.5-1% of my account using position sizing for each trade and hopefully compounding will be my friend.
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