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TMS for Newbies Part 2

  • #701
  • Apr 22, 2016 2:19pm Apr 22, 2016 2:19pm
This is a post from pips29 on Likica's "TMS for m30 charts" thread.
I've never heard the rationale for trading with the trend expressed so well.

"Trading with the trend is always good. When your trade works out ,the reward is so much bigger and if you are wrong, you can normally minimise your loss..It's only when you do CT trades that will damage your account badly when trade is wrong..The whole idea is to trade with the trend for by doing so you are right until proven wrong..With Ct trade you start off by being wrong until proven otherwise...pick your option..imo I will always pick going with the trend over the other"
Thanks for your help, warmth and straight talking Heather.
  • #702
  • Apr 22, 2016 11:25pm Apr 22, 2016 11:25pm
Quoting Kanderpro
This is a post from pips29 on Likica's "TMS for m30 charts" thread. I've never heard the rationale for trading with the trend expressed so well. "Trading with the trend is always good. When your trade works out ,the reward is so much bigger and if you are wrong, you can normally minimise your loss..It's only when you do CT trades that will damage your account badly when trade is wrong..The whole idea is to trade with the trend for by doing so you are right until proven wrong..With Ct trade you start off by being wrong until proven otherwise...pick...
Just AMAZING , thanks to all that put efforts to teach us how to trade TMS
I Have Learned to Take Some Losses to Make Profits
  • #703
  • Apr 22, 2016 11:28pm Apr 22, 2016 11:28pm
Quoting griffinssoul
for noobs 2 answer only - list 3 changes u would make 2 ur trading plan if ur balance curved resembled this one ..... {image}
Keep doing what u do, refining your trading plan, updating , change a little in the plan, work more in backtesting , and slowly u gonna change and see the shift in the trading curve

Thanks GS, great trades as always
I Have Learned to Take Some Losses to Make Profits
  • #704
  • Apr 22, 2016 11:44pm Apr 22, 2016 11:44pm
Quoting TheScorpS
{quote} Keep doing what u do, refining your trading plan, updating , change a little in the plan, work more in backtesting , and slowly u gonna change and see the shift in the trading curve Thanks GS, great trades as always
every1 will answer this question diff - there is no set list - only wats important 2 u ..... 4 me the answer was dont do anytings - not a ting - just keep with the process - why? - cause i am super confident wit the system that i developed 4 me ..... in the passed i answered this question wit a list of tings i would change - 4 me this meant i was not there .....
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  • #705
  • Apr 22, 2016 11:48pm Apr 22, 2016 11:48pm
Quoting Kanderpro
This is a post from pips29 on Likica's "TMS for m30 charts" thread. I've never heard the rationale for trading with the trend expressed so well. "Trading with the trend is always good. When your trade works out ,the reward is so much bigger and if you are wrong, you can normally minimise your loss..It's only when you do CT trades that will damage your account badly when trade is wrong..The whole idea is to trade with the trend for by doing so you are right until proven wrong..With Ct trade you start off by being wrong until proven otherwise...pick...
thnx Kanderpro - IMO when a trader says this they r talking from there experience [this is a gr8 ting] - but! - its not true 4 every1 IMO - how can it be? [if it was there would only be 1 trend ever on every pair ]
  • #706
  • Apr 23, 2016 12:50am Apr 23, 2016 12:50am
Quoting griffinssoul
{quote} thnx Kanderpro - IMO when a trader says this they r talking from there experience [this is a gr8 ting] - but! - its not true 4 every1 IMO - how can it be? [if it was there would only be 1 trend ever on every pair ]
Timeframes Mr. Griff!

Everyone is trading an infinite number of chart combinations, and the trends on those timeframes are different. Just my take.
If you are good at something, never do it for free--Joker
  • #707
  • Apr 23, 2016 1:24am Apr 23, 2016 1:24am
Quoting jmn5611
{quote} Timeframes Mr. Griff! Everyone is trading an infinite number of chart combinations, and the trends on those timeframes are different. Just my take.
good point Jim - if trading wit the trend is 'always good' then there would be a trend on all timeframes - cause there is traders trading across all of them [TFs] - so if they r all winning cause they r trading the trend & the trend is always good then ..... drum roll .... there will be a trend on all TFs 4 that pair - a this would be also for every pair - there wouldnt b any trend reversals cause the winning traders trading the trend would crush the loser counter traders ........ have a gr8 weekend all
  • #708
  • Apr 23, 2016 3:42am Apr 23, 2016 3:42am
Quoting griffinssoul
{quote} good point Jim - if trading wit the trend is 'always good' then there would be a trend on all timeframes - cause there is traders trading across all of them [TFs] - so if they r all winning cause they r trading the trend & the trend is always good then ..... drum roll .... there will be a trend on all TFs 4 that pair - a this would be also for every pair - there wouldnt b any trend reversals cause the winning traders trading the trend would crush the loser counter traders ........ have a gr8 weekend all ...
Griff do you always enter at the beginning of the new h4 candle set up, is it not possible to enter at anytime of the candle if there is strong momentum? Seems you can miss a lot of pips sometimes if waiting
  • #709
  • Apr 23, 2016 6:24am Apr 23, 2016 6:24am
Quoting Scrambleguy
{quote} Griff do you always enter at the beginning of the new h4 candle set up, is it not possible to enter at anytime of the candle if there is strong momentum? Seems you can miss a lot of pips sometimes if waiting
I'm sure Griff will give you a good answer but I'll ask you a question.
How would you know a H4 candle has momentum before it has closed ? They can change direction in a heartbeat.
There is a way but I'll leave you to think it through
Never argue with a fool; onlookers may not be able to tell the difference.
  • #710
  • Apr 23, 2016 8:24am Apr 23, 2016 8:24am
Good Morning. As I said I am new to forex, just one year. I'm new .Talves this post can help any beginner. I started alone, without any direction, looked at some systems and came to TMS, loved new indicators, combined with each other in order to find the Holy Grail. As time went pecebendo that the less better indicators. I was also testing the TF, M5 M15 M30 H1. But my anxiety would not let me stay or a week in a given TF, was always changing my indicators and TF even trying to follow TMS. In December 2015 I decided to stay in H1, was my best month, made 15% and was very happy. I felt like I was already very good at Forex. January and fereveiro did not get the same result, -8% in two months. I lost about three trades in a row, after that I started to get really scared, entered a trade and when he came against me a few pips my legs began to shake, I was sweating, it gave me butterflies in my stomach, and closed the negative trade. It was undisciplined, wanted to force trade (try to climb the tree) and it knocked me. I read posts algun the 4 H and D1 were easier, but never thought to operate H4 above, not crossed my mind, It would take too long, my anxiety did not allow. A little time spent looking at the trades GRIFFINSSOUL in H4. Yesterday I made this trade eur / nzd things seem clearer now in H4, I could overcome fear, anxiety and insecurity and could let the trade run, made 115 pips. Of course it was a single trade, I know I'm far from being a good marketer, but it showed me that it is possible for me the emotional part has proven very difficult to overcome. IT'S POSSIBLE. Thank you very much.
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  • #711
  • Apr 23, 2016 9:10am Apr 23, 2016 9:10am
Quoting Saripefx
Good Morning. As I said I am new to forex, just one year. I'm new .Talves this post can help any beginner. I started alone, without any direction, looked at some systems and came to TMS, loved new indicators, combined with each other in order to find the Holy Grail. As time went pecebendo that the less better indicators. I was also testing the TF, M5 M15 M30 H1. But my anxiety would not let me stay or a week in a given TF, was always changing my indicators and TF even trying to follow TMS. In December 2015 I decided to stay in H1, was my best month,...
This is A+++ TMS trade by the book, try to repeat good trades and over times u gonna start to trade successfully
I Have Learned to Take Some Losses to Make Profits
  • #712
  • Apr 23, 2016 11:13am Apr 23, 2016 11:13am
Quoting Lookleft
{quote} I'm sure Griff will give you a good answer but I'll ask you a question. How would you know a H4 candle has momentum before it has closed ? They can change direction in a heartbeat. There is a way but I'll leave you to think it through
I guess the answer is to trade the LTF, the hourly perhaps as you do, for h4 momentum check the candle size, steepness in tdi, how close to S&R, how many candles have already taken place.
I was going to put the question to you N, but as I have already driven you mad with questions, thought I would give you a break!
  • #713
  • Apr 23, 2016 6:05pm Apr 23, 2016 6:05pm
Quoting TheScorpS
{quote} This is A+++ TMS trade by the book, try to repeat good trades and over times u gonna start to trade successfully
It was great that this BUY trade worked out.
But I also see that there was a major resistance ( 3 touch +) in the way. I am attaching the picture of the trade with the resistance line drawn (yes, it is more a zone than a line). As per rules of the TMS game in spite of all the conditions being valid, we need to exercise huge caution in case of a major S/R nearby. So this could have easily gone the other way.
My question is that how do we keep track of the trade progression especially in a 4H trade ?
Do we keep checking the LTF say the 1H TF in this case ?

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Live life king size !
  • #714
  • Edited 10:01pm Apr 23, 2016 9:43pm | Edited 10:01pm
Quoting Saripefx
Good Morning. Yesterday I made this trade eur / nzd things seem clearer now in H4, I could overcome fear, anxiety and insecurity and could let the trade run, made 115 pips. Of course it was a single trade, I know I'm far from being a good marketer, but it showed me that it is possible for me the emotional part has proven very difficult to overcome. IT'S POSSIBLE. Thank you very much.{image}
Just curious, if this major zone of resistance caused you any concern and the fact you had a LL and the trend was down? I'm happy for you it was successful. But wondering how the experienced traders feel about statistically this same scenario over lets say, 10 similar situations?
Edit:
Based on the visible chart, this support zone had not been tested as resistance, so technically it was not resistance yet?!
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  • #715
  • Apr 24, 2016 5:47am Apr 24, 2016 5:47am
Quoting foxtrader16
{quote} It was great that this BUY trade worked out. But I also see that there was a major resistance ( 3 touch +) in the way. I am attaching the picture of the trade with the resistance line drawn (yes, it is more a zone than a line). As per rules of the TMS game in spite of all the conditions being valid, we need to exercise huge caution in case of a major S/R nearby. So this could have easily gone the other way. My question is that how do we keep track of the trade progression especially in a 4H trade ? Do we keep checking the LTF say the 1H...
If you mean which TF do you manage a trade from. You should manage it from the TF you entered on or if you have walked it up a TF the higher of the 2). A good example is below. The first chart is H4 the second exactly the same time and pair but H1 entry was made on H4 at first blue APB above DOL. If you looked at the H1 to manage your H4 trade where would you have exited.
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Never argue with a fool; onlookers may not be able to tell the difference.
  • #716
  • Apr 24, 2016 5:56am Apr 24, 2016 5:56am
Quoting Scrambleguy
{quote} I guess the answer is to trade the LTF, the hourly perhaps as you do, for h4 momentum check the candle size, steepness in tdi, how close to S&R, how many candles have already taken place. I was going to put the question to you N, but as I have already driven you mad with questions, thought I would give you a break!
Close but no cigar
Your question was entering before a H4 candle closed. You don't know what it is going to do before then. Hence the basic rule 'Do not enter until the candle has closed'
However, the positioning of the price and signal lines in the TDI can give you a clue (remember the TDI doesn't just show crosses) as can the fact that there are 4 H1 candles in a H4 candle.
Never argue with a fool; onlookers may not be able to tell the difference.
  • #717
  • Apr 24, 2016 7:15am Apr 24, 2016 7:15am
Hi guys. This is my first post in this thread. I saw here new. All experienced traders are great and I read first 15 pages and keep reading. Thanks to all contributors I guess EURNOK can go lower. If price won't open with gap today, I am going to look a good ABP and TDI signal to go short.
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  • #718
  • Apr 24, 2016 7:34am Apr 24, 2016 7:34am
Quoting MoneyTalks58
Hi guys. This is my first post in this thread. I saw here new. All experienced traders are great and I read first 15 pages and keep reading. Thanks to all contributors I guess EURNOK can go lower. If price won't open with gap today, I am going to look a good ABP and TDI signal to go short. {image}
Welcome to the thread. It does look like the bears are in control and this lateral will break down on the Higher TF. But on the lower ones, it looks like it could break up. Lateral formations tend to break in the direction of the prior move. Overall, the conditions are bearish.
If you are good at something, never do it for free--Joker
  • #719
  • Apr 24, 2016 8:04am Apr 24, 2016 8:04am
Quoting jmn5611
{quote} Welcome to the thread. It does look like the bears are in control and this lateral will break down on the Higher TF. But on the lower ones, it looks like it could break up. Lateral formations tend to break in the direction of the prior move. Overall, the conditions are bearish.
Thank you for your kind response. Due to this uncertainty, I will enter the trade if a red abp with a good body size and tdi confirmation occured.
  • #720
  • Apr 24, 2016 8:05am Apr 24, 2016 8:05am
Good morning everyone. I have a hard time when my trade goes against me I usually close it before reaching my SL. Sometimes he came near my SL and returned to me. What should I do once my difinido SL, I expect to hit it? Thank you in advance for answers.
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