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Attachments: TMS for Newbies Part 2
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TMS for Newbies Part 2

  • #461
  • Apr 16, 2016 9:44pm Apr 16, 2016 9:44pm
Quoting Babyboy
{quote} Well said. But .... 1. If this thread is not about teaching the basic, then don't name it "TMS for Newbies Part 2". What is NEWBIES?. who are NEWBIES?. 2. Yes there are countless thread. As Pipsninja mentioning... The variation of trading style from each and invidually are different, hence that's the reason countless thread as everyone is so proud of their holy grail method. But who,how,when can the newbies follow ??? is just too much to digest. 3. Yes, there's always help in Babypips in understanding of forex trading to begin with, as usual...
And you don't think the original thread is confusing?? They start reading the thread where its supposed to be simple - not easy but simple, and learning to trust what the tdi is telling them. Then they get towards the end where its not ok to trust the tdi, you are supposed to follow the weekly chart, go into drawdown because you're disregarding what the other timeframes are telling you and hopefully if you've got the weekly direction right you will make those pips back up. There is essentially one experienced trader left on the TMS thread, any of the others have disappeared long ago, perhaps you should ask yourself why that is, it should be a buzzing thread with experienced traders all over it, because they are making so much money. However, most TMS traders have abandoned the thread because its not TMS anymore.
  • #462
  • Apr 16, 2016 9:44pm Apr 16, 2016 9:44pm
Quoting lastingwell
{quote}Exactly as mary4x says, this is not a thread for newbie traders, its a thread for newbies to TMS, an entirely different thing. But if someone doesn't know what those things you mention, are, then we will do our best to help them anyway as well as send them to babypips.com to learn the basics of trading. The reason I started this thread again was because the last thread, along with the thread starter was hounded from the forum and some newbies wanted it put back up. I have always helped newer traders to TMS via email and pm's in my own time...
Hey, LW...

Not hard feeling. I'm not here to make war.

Then moment I saw the thread NAME, 1st thought in my mind is ... "Another TMS for newbies"
Glance thru... Again ... posting of the holygrail. making hoohaa like the rest of the thread.
Helping is good, and I will always be supporting you, whoever using TMS. But before doing so, can
you guys recall how you guys can reach these level. what if you are newbies... how are you to digest?

Frankly speaking, there are alot of quiet newbies following the thread. many of them have little to zero background.
When you put up the title, What do they think?

Please anyone, please yourselves in their shoes. To begin trading with TMS is easy, but it's also complicated.

So Cheers UP. Wish All green pips everyday, every trades.
Banker please return my pipins.
  • #463
  • Edited 9:59pm Apr 16, 2016 9:47pm | Edited 9:59pm
Quoting lastingwell
{quote} And you don't think the original thread is confusing?? They start reading the thread where its supposed to be simple - not easy but simple, and learning to trust what the tdi is telling them. Then they get towards the end where its not ok to trust the tdi, you are supposed to follow the weekly chart, go into drawdown because you're disregarding what the other timeframes are telling you and hopefully if you've got the weekly direction right you will make those pips back up. There is essentially one experienced trader left on the TMS thread,...
Honestly, every TMS thread in here is about hoohaa. That's the reason I rather becoming a silent free time trader. It's took me couple of months to understand a new level of playing fields. I don't want to confuse the newbies that's why I stay low.

I dont pretty much following weekly. I just trade daily. And I dislike big drawdown. Once I enter, I'm trying to be as neat as possible. SL would be 30-50. My R:R is at least 1:4 or 1:6.

Perhaps one day, when I save enough, I could make a trip to visit you.
Banker please return my pipins.
  • #464
  • Apr 16, 2016 10:05pm Apr 16, 2016 10:05pm
Quoting Babyboy
{quote} Honestly, every TMS thread in here is about hoohaa. That's the reason I rather becoming a silent free time trader. It's took me couple of months to understand a new level of playing fields. I don't want to confuse the newbies that's why I stay low. I dont pretty much following weekly. I just trade daily. And I dislike big drawdown. Once I enter, I'm trying to be as neat as possible. SL would be 30-50. My R:R is at least 1:4 or 1:6. Perhaps one day, when I save enough, I could make a trip to visit you.
I look forward to it I will put up some posts later on today on how I look for trades in the first place, that may help some to see what I'm seeing. I don't look any higher than daily either, of course at the end of the week I look to see how the weekly candle finished as just something to bear in mind but as we know just a small looking pullback on weekly can be hundreds of pips.
  • #465
  • Apr 16, 2016 10:07pm Apr 16, 2016 10:07pm
Quoting lastingwell
{quote}I look forward to it I will put up some posts later on today on how I look for trades in the first place, that may help some to see what I'm seeing. I don't look any higher than daily either, of course at the end of the week I look to see how the weekly candle finished as just something to bear in mind but as we know just a small looking pullback on weekly can be hundreds of pips.
Precisely.
Banker please return my pipins.
  • #466
  • Edited 2:32am Apr 17, 2016 12:40am | Edited 2:32am
Well, this is the last post of myself.

For newbies, please keep it up, keep on learning.

There's a long road till you reach to this level. But, hey with my dumpest brain can reach this level so can you.
If you are not well equip, please do not trade live. In order to achieve a great result, you need to think out of the box. Trading at low time frame
it's just too much noise. You'll get whipsaw. Brokers tend to hunt for your SL. So before you decide what to do, please ask yourself a question.

What kinda of trader shall I be? Scalper,Intraday,Swinger or Investor.

No doubts LW, has proven to be effective on Daily and others has their abilities to trade on other time frame.

basically, there's no right and wrong. Because markets bound to be moving UP and DOWN all the times.

So wish everyone in green pips and newbies learn more. People tends to fall down easily, but please raise up.

I will just post my recent swing. Risk:Reward is depending. Hopes this motivate you all. Ops, hey PVSR indicator... that's just for the chart looks nicer.

Arious

Long And Short Swing. Whoever understand my approach, congratz.
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Banker please return my pipins.
  • #467
  • Apr 17, 2016 4:50am Apr 17, 2016 4:50am
Quoting lastingwell
{quote}I look forward to it I will put up some posts later on today on how I look for trades in the first place, that may help some to see what I'm seeing. I don't look any higher than daily either, of course at the end of the week I look to see how the weekly candle finished as just something to bear in mind but as we know just a small looking pullback on weekly can be hundreds of pips.
Look forward to seeing those posts LW
  • #468
  • Apr 17, 2016 5:27am Apr 17, 2016 5:27am
Quoting wind.rpha
{quote} Same ride but with less pips ... you are a master GS
i really enjoy look'n @ ur trades 2 Wind - i have been trying 2 master my exits 4 a long time now - its very hard - but! - the entries must be the focus first

Quote
The proper execution of your trades is one of the most fundamental components of becoming a successful trader and probably the most difficult to learn. Mark Douglas
  • #469
  • Apr 17, 2016 5:42am Apr 17, 2016 5:42am
Quoting Scrambleguy
{quote} Hey Griff, would you be kind enough to explain your general h4 analysis and set up strategies, as you seem to be the h4 man! I mean are your entries taken on the h4 also and do you make sure the daily trend and tdi are in the same direction as your h4 set up? also what stops do you use? Cheers
its exactly wat LW described on the first page ..... i dont do anytinks more than wat i do on the M30 ..... there is no diff on HTF to LTF apart from .... time [...and spread volatility] ....... on the M30 i could only trade 8 pairs cause it take to much time to execute trades ...... [enter GS-tron ]

so some general stuff i look 4 r - D1 kink/cross - supp&res - PA <- this should at least show that u have a chance of surfing the immediate trend [just like LW said] - on the H4 i do the exact same stuff i do 4 the M30 - u could get stop'd out just the same on any TF - there is no reliability gained by dialing up TFs IMO

this is y it is so mega important 4 senior traders 2 b posting their trades - where would i b if Lastingwell, WDays, Lorbax, OS[although OS was on another planet man - it took me a long time 2 understand], and others didnt post .... i wouldnt b posting this thats 4 sure
  • #470
  • Apr 17, 2016 6:11am Apr 17, 2016 6:11am
Scrambleguy - i have set initial H4 SL/PT ...... there r 3 scripts 4 this ....

script 1 - SL100 & TP200
script 2 - SL150 & TP300
script 3 - SL200 & TP400

this covers the most volatile - high ADR - pairs ...... i will mix & match these to trades & vary each 2 suit the trade ......
  • #471
  • Apr 17, 2016 6:20am Apr 17, 2016 6:20am
IMO it is not possible 2 look @ a setup and say it has some rating 4 winning like AAA etc ..... because no setup will ever b the same - sure there will be certain repeat'n patterns etc - but no trading day is ever the same in fact IMO dis is mega dangerous state of mind 2 take into a trade

Quote
Five fundamental truths:
1. Anything can happen.
2. You don’t need to know what is going to happen next in order to make money.
3. There is a random distribution between wins and losses for any given set of variables that
define an edge.
4. An edge is nothing more than an indication of a higher probability of one thing happening
over another.
5. Every moment in the market is unique.
Mark Douglas
  • #472
  • Apr 17, 2016 8:57am Apr 17, 2016 8:57am
LW What do you think about Emm
  • #473
  • Apr 17, 2016 8:58am Apr 17, 2016 8:58am
Quoting lastingwell
{quote}I look forward to it I will put up some posts later on today on how I look for trades in the first place, that may help some to see what I'm seeing. I don't look any higher than daily either, of course at the end of the week I look to see how the weekly candle finished as just something to bear in mind but as we know just a small looking pullback on weekly can be hundreds of pips.
Looking forward to your tutorial posts LW
  • #474
  • Edited 9:45am Apr 17, 2016 9:27am | Edited 9:45am
just so you guys don't get the wrong impression I DO take losses (someone posted here we don't post losses)
so far 96wins 25losses this month.
Here is my equity chart this month.Not the smoothest but I am confident of overcoming losses as you can see on the chart.
I am already past my monthly goal so I am lot more relaxed rest of the month.
The 1st wave loss was a DD from previous month.Decided to get out and start my month clean and I am glad I did.So what is the lesson here?Don't hang on to losses after certain point.Have a number that beyond that you won't tolerate.I don't use hard SL but do have a DD number that beyond that I get out.
looks almost a fib chart
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In trading, you have to be defensive and aggressive at the same time
  • #475
  • Apr 17, 2016 11:23am Apr 17, 2016 11:23am
Quoting leescofield
LW What do you think about Emm
I don't.
  • #476
  • Apr 17, 2016 11:51am Apr 17, 2016 11:51am
Thought long and hard about the best way to describe how I look for trades, its straightforward and as griffinssoul has moved to H4 I will use one of his trades this week to describe it, as he does it so well from this post http://www.forexfactory.com/showthre...65#post8870065

When on H4 I look at D1 to help me decide if I should take the trade. The reason eelfranz used the tdi that only updates at the close of the bar was because he came out when the tdi went flat or hooked over. If you watch the behaviour of the tdi at the beginning of a candle (close of the last one) it will tell you roughly how the last candle closed. For instance in an uptrend, all the while the bars close bullish the tdi will stay up, if the tdi closes flat, then the last candle wasn't so bullish or was a doji or something similar and if it has a stong hook over then the bar closed more bearish than bullish. He used either flat or hooked over as his cue to come out because he didn't like to give too much back to the market.

All I've done is taken what he noticed on the timeframe he was on, to the timeframe above it to help me into trades and very often show me when to get out. So I use the mtf tdi to help show me that, but some don't like using it because the bar thats open is still moving, to make it simpler you can have the D1 chart next to the h4 and use that.

Griffinssoul's trade I mentioned:

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This is how I trade when on H4 and why he calls it the lastingwell kink He is looking for the tdi on the higher timeframe to step up or down before going into a trade on H4. This is what my chart would have looked like at the time - griff uses essentially the line chart along with HA's whereas I use the apb's it all tells the same story though. (I've taken all pivots off the chart for the sake of clarity)

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Now if you look at the D1 chart at the time with normal japanese candlesticks you will see why it had stepped up, look at the last closed daily candle before the vertical line, definitely not a bearish candle.

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So, put them together, good signal on H4, along with a higher low and D1 stepping up (turning more bullish than bearish), a higher probability trade. Of course they will sometimes fail, but not as much as when you are just relying on the one timeframe.
  • #477
  • Apr 17, 2016 12:04pm Apr 17, 2016 12:04pm
AUDUSD analysis below:

Monthly bias: BULLISH - Last month (March 2016) saw a strong bullish candle which closed outside of WRB from September 2015
Weekly bias: BULLISH - Last week saw a bullish breakout of weekly WRB candle from a few weeks previous
Daily bias: BULLISH - Daily trend continues to make higher highs

We currently have a Master candle on H4 chart which has engulfed the last 8 candles as seen on the chart below. We have also seen a reaction between the monthly fibo pivot R38 and BRN(0.77000)

I will be looking for continuation of the bullish trend once we have a close outside of the MC with momentum which will also mean a close above the R38 pivot.

All advice would be greatly appreciated.

EDIT: I'm using Davit's pivots but on the monthly fib setting rather than weekly.

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  • #478
  • Apr 17, 2016 12:14pm Apr 17, 2016 12:14pm
Quoting TheRock
AUDUSD analysis below: Monthly bias: BULLISH - Last month (March 2016) saw a strong bullish candle which closed outside of WRB from September 2015 Weekly bias: BULLISH - Last week saw a bullish breakout of weekly WRB candle from a few weeks previous Daily bias: BULLISH - Daily trend continues to make higher highs We currently have a Master candle on H4 chart which has engulfed the last 8 candles as seen on the chart below. We have also seen a reaction between the monthly fibo pivot R38 and BRN(0.77000) I will be looking for continuation of the bullish...
Which timeframe are you going to be trading?
  • #479
  • Apr 17, 2016 12:32pm Apr 17, 2016 12:32pm
Quoting lastingwell
{quote}Which timeframe are you going to be trading?
The H4 timeframe, once there is a breakout of the MC on the chart I posted. ​

Wanted some advice on my analysis and see whether I'm interpreting the chart correctly and what else I could look out for and what I'm doing wrong.
  • #480
  • Apr 17, 2016 12:40pm Apr 17, 2016 12:40pm
Quoting lastingwell
Thought long and hard about the best way to describe how I look for trades, its straightforward and as griffinssoul has moved to H4 I will use one of his trades this week to describe it, as he does it so well from this post http://www.forexfactory.com/showthre...65#post8870065 When on H4 I look at D1 to help me decide if I should take the trade. The reason eelfranz used the tdi that only updates at the close of the bar was because he came out when the tdi went flat or hooked over. If you watch the behaviour of the tdi at the...
Excellent LW, this really helps me a lot!
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