TMS for Newbies Part 2

Quoting Scrambleguy

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{quote} Hi Davit, not sure if you missed my question, but I will ask again, although you reply above may have answered my query below, cheers. "Hi Davit, I wanted to ask how you play the pivots with tdi in different TF`s, as I have been looking and taking trades where the TDI is heading in the same direction as the TF higher as mentioned by LW, and I wondered how you play it if you get a TDI cross once it has bounced off or continued off a pivot but the TDI in the TF higher is not aligned in the same direction? Cheers

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Quoting Davit

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{quote} I treat pivots as S/R irregardless of TF.That's the simple answer. TDI is a confirmation of price action.I trade 15-30 charts and often take counter trades.My style is not ideal if you have less then 3yrs of experience in trading.Counter trading is risky but I am proficient in it. Look to trade with H4 candle direction its whole lot safer.Pivots are road signs that's all.

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Quoting billsmith

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me thinks that the NY Market is as choppy as yesterday. no clear trades on M30 that i have spotted during NY session. some nice ones at london open - i was having my beauty sleep then

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Quoting Davit

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{quote} Hi Bill There are times that trading is not optimal.Take the day off wait for opportunities. Patience is true part of trading.

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Quoting jgadefelth

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{quote} Seems that most people use a risk reward of 1:1 here likica seems to use a risk reward of 1:1 first then change it along the way to better rewards. Is it possibel to trade TMS with risk reward 1:2? Best regards

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Quoting Tekkies

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{quote} jgadefelth I have taken the highest RR that broker has to offer 1:888 LW and Lookleft gave valuable guidelines in MrAussie forum because I was way of base Started to trade with 0.01 Due to their advice and adhere strictly to TMS rules I was able to increase lot size Currently lot size is 0.10 and Margin level is 5545% No stop loss - using a EA to close any trade that exceed the total amount I am willing to lose Trading with such a high R:R has forced me to read price action very carefully and to wait for the right setup. Had the mentality...

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Quoting mraam

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GJ Cant figure out where this went wrong.. My reason for taking this - Consistent TF, MBL below 50 on all 3 TF, Green Cross on H4. Moving away from PAC. Went short (Red vertical line) and the market turned. Appreciate all comments. {image} {image} {image}

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Quoting mraam

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GJ Cant figure out where this went wrong.. My reason for taking this - Consistent TF, MBL below 50 on all 3 TF, Green Cross on H4. Moving away from PAC. Went short (Red vertical line) and the market turned. Appreciate all comments. {image} {image} {image}

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Quoting mraam

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GJ Cant figure out where this went wrong.. My reason for taking this - Consistent TF, MBL below 50 on all 3 TF, Green Cross on H4. Moving away from PAC. Went short (Red vertical line) and the market turned. Appreciate all comments. {image} {image} {image}

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Quoting TheScorpS

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{quote} Green didnt cross Red line on H1, I took short too but short lived, so moved it to break-even as there was no cross of TDI and a late entry , was +35 pips as it was going down {image}

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Quoting lastingwell

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{quote}Although green had crossed red on h4 it was quite a few candles before your trade on H1, look at the last closed candle on h4 before you took your trade, it was a bullish candle, and as TheScorpS says, the tdi hadn't crossed on h1.

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Quoting Lookleft

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{quote} In addition to what TSS and LW have said. Look at where TSS had marked support and look why. You were trading into a BRN (154.000). When you see that situation draw a line on you chart and zoom out. I can see at least 4 times that price had reacted to the BRN in the last 7 days which means it is an important number for this pair. It would be best to wait for price to close below the BRN before considering an entry.

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Quoting mraam

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{quote} Thanks LW. But if I was trading purely on Higher TF's (4HR & 1D) should 1HR be of importance? My decision was the 4HR even though the cross happened many candles ago.

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Quoting lastingwell

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{quote}No, but if you were trading purely on H4 the last closed candle was bullish, you can't take a trade based on the open candle because that can change in a heartbeat - as it did.

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Quoting leescofield

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{quote} Now you are trading M1,M5?

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Quoting kingpips288

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Hi LW, You've mentioned the inverted hammer in one of your post. Can we consider it as a reversal "candle pattern" in a swing low/high or just a simple hint? Thanks and have a nice weekend.

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Quoting griffinssoul

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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 {image} {image}

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