TMS for Newbies Part 2 | Page 39 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

TMS basket: Dashboard for a basket of MA-Filtered RSI Signals 135 replies

My TMS Trade Journal 11 replies

My journal based on TMS 5 replies

PA patterns with TMS system 45 replies

Polapip The Meandering System (TMS) 29 replies

Attachments: TMS for Newbies Part 2
Exit Attachments

TMS for Newbies Part 2

  • #761
  • Apr 26, 2016 6:02am Apr 26, 2016 6:02am
EU H1 +32

Just following the HTF once again.

Also with divergence.

Closed on daily pivot R2 level.
Attached Image (click to enlarge)
Click to Enlarge Name: ScreenShot_20160426135952.png Size: 22 KB
A MOUSE THAT ROARS IS STILL NOTHING MORE THAN A MOUSE!
  • #762
  • Apr 26, 2016 6:45am Apr 26, 2016 6:45am
OK so the TDI is crossing at a great angle and the Stoch is in agreement. But this is a no go right? Because there is a small area of consolidation close and looks as though its forming an area of support and resistance?
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd-d1-oanda-division1.png Size: 83 KB
  • #763
  • Apr 26, 2016 7:50am Apr 26, 2016 7:50am
Quoting Jenn4rex
OK so the TDI is crossing at a great angle and the Stoch is in agreement. But this is a no go right? Because there is a small area of consolidation close and looks as though its forming an area of support and resistance? {image}
Hi Jenn,

As well as consolidation, price has just made a new high, followed by a LH and a LL. Definitely not a time to go long trading the daily chart in my book.

Also, if you look at the previous TDI long signal that failed, this signal is lower indicating a sinking market sentiment to buy.

On the plus side, price has just bounced off the high set by the large APB of 10 march and we see bullish divergence on the stoch so maybe market sentiment is starting to shift.

Just my 2c worth.
A MOUSE THAT ROARS IS STILL NOTHING MORE THAN A MOUSE!
  • #764
  • Apr 26, 2016 8:15am Apr 26, 2016 8:15am
Quoting scarlet pipe
{quote} Hi Jenn, As well as consolidation, price has just made a new high, followed by a LH and a LL. Definitely not a time to go long trading the daily chart in my book. Also, if you look at the previous TDI long signal that failed, this signal is lower indicating a sinking market sentiment to buy. On the plus side, price has just bounced off the high set by the large APB of 10 march and we see bullish divergence on the stoch so maybe market sentiment is starting to shift. Just my 2c worth.

Thanks Scarlet! Your two cents is much appreciated ! Learning more everyday and it really helps to get feedback from the charts. Three weeks ago I would have went long so I must be learning something lol Thanks for your time on pointing everything out to me!!
  • #765
  • Apr 26, 2016 8:19am Apr 26, 2016 8:19am
Fellas, at work i try to look the charts with trader interceptor app. It has tdi and heiken ashi candels. Can it be useful to look at it? Is there anyone who trades with this app?
  • #766
  • Apr 26, 2016 10:20am Apr 26, 2016 10:20am
I entered the EURJPY buy trade in yellow line. Any comments will be highly appreciated. Thanks.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 87 KB
  • #767
  • Apr 26, 2016 10:38am Apr 26, 2016 10:38am
Quoting MoneyTalks58
Fellas, at work i try to look the charts with trader interceptor app. It has tdi and heiken ashi candels. Can it be useful to look at it? Is there anyone who trades with this app?
I am in the same condition. Many of the software ports that MT4, Trader Inteceptor, etc are blocked at the company firewall, so I am looking for something that can be used to incorporate TDI. I looked at Trader Inteceptor a while back, but didn't think it fully functional. But I just downloaded it to my phone at work (allowed) and it certainly has matured. I put the TDI indicator and changed charts to HA.....very nice. Will be testing it this week.
  • #768
  • Apr 26, 2016 5:05pm Apr 26, 2016 5:05pm
Quoting Lookleft
Just to show that you don't need to chase big pips (they'll come to you) my set and forget (bread and butter) trades on a couple of pairs I watch. Basic TMS entries although the EURGBP where taken on a lower TF then managed on H1. I'll be watching GBPUSD tomorrow as it has still got room to move up before the dreaded FED speeches. If you trade GBPUSD and EURUSD it is always worth watching EURGBP and you'll see something interesting {image} {image} Remember, consistency and setting your achievable expectations will make you successful.

Good trades there Lookleft....that's the way! Some good advice there too. It's surprising how quickly the small wins mount up to a very respectable total. So much better (and profitable) than being greedy and shooting for the home run or trying to milk every last pip from the move and incurring losses.

It's good to see the more experienced members helping others (and each other) with no one trying to steal the spotlight, which happens too often at FF. I won't answer TMS questions because, I have said, I trade my own system which is different entirely to TMS, but I will offer some (possibly) useful stuff every now and then about trading in general that may help you. For those who have specific TMS questions, just fire away and someone will be able to help you out shortly.

On another note, Lastingwell is attending to some family business and I'm absolutelty sure that she will be back soon to answer anyones TMS questions. I'm sure we all wish her well and a speedy return.

Have a great day.....
Doing what you like is Freedom. Liking what you do is Happiness.
  • #769
  • Apr 26, 2016 11:18pm Apr 26, 2016 11:18pm
Quoting Jenn4rex
OK so the TDI is crossing at a great angle and the Stoch is in agreement. But this is a no go right? Because there is a small area of consolidation close and looks as though its forming an area of support and resistance? {image}
Good analysis by scarlet pipe. The bull cross you saw is worse than the last bull cross. This is countertrend.

Quoting MoneyTalks58
I entered the EURJPY buy trade in yellow line. Any comments will be highly appreciated. Thanks. {image}
The entry looks good to me. It is close the the 68 and some resistance on the chart so don't be greedy.

Quoting realjumper
{quote} Good trades there Lookleft....that's the way! Some good advice there too. It's surprising how quickly the small wins mount up to a very respectable total. So much better (and profitable) than being greedy and shooting for the home run or trying to milk every last pip from the move and incurring losses. It's good to see the more experienced members helping others (and each other) with no one trying to steal the spotlight, which happens too often at FF. I won't answer TMS questions because, I have said, I trade my own system which is different...
Lastingwell started a thread with real potential, and you only enhance that potential. Thank you very much!
If you are good at something, never do it for free--Joker
  • #770
  • Apr 26, 2016 11:55pm Apr 26, 2016 11:55pm
Quoting MoneyTalks58
I entered the EURJPY buy trade in yellow line. Any comments will be highly appreciated. Thanks. {image}
As well as what jmn511 has said the trade was taken towards the end of the trading day so the market is likely to slow down. Also what is your exit strategy as I can see 2 indicators on your chart indicating an exit at the time of the screen shot.
Never argue with a fool; onlookers may not be able to tell the difference.
  • #771
  • Apr 27, 2016 9:02am Apr 27, 2016 9:02am
Quoting Lookleft
{quote} As well as what jmn511 has said the trade was taken towards the end of the trading day so the market is likely to slow down. Also what is your exit strategy as I can see 2 indicators on your chart indicating an exit at the time of the screen shot.
Thanks for your contribution at first. I try to put my sl under the previous candle however i put it a little bit tight in this. I manually closed with a small loss. As jmn and you mentioned my mistake is to entered the trade near the overbought area and market slowing time.
  • #772
  • Apr 28, 2016 2:01am Apr 28, 2016 2:01am
For Newbies

One needs to understand that there will be loss no matter what ever strategy is. No one can win 100% of the time. What is the secret to win the market?
Just achieve the knowledge to win 40% of the time in the market that's all. If one can achieve that then the strategy is solid. No matter what the strategy
is MA TDI PA whatever they are comfortable. Every strategy is good. No need to jump from thread to thread or strategy to strategy. Secret is the management R:R.
Let lose 6 out of ten 1:1 and win 4 1:2. And we are winner. So stick to one strategy. Learn it well as long as your ratio gets to that 40% level. That is the
edge for me. Don't force to trade and win everything. Not going to work. Act as professional with set of goals. Over trading will kill the management.
There shouldn't be a monthly target there should be 10 trade target IMO. Wait and have patience. All is needed is to be correct 4 times out of 10.
Then we may understand what is cutting loss early and let profit run. Focus focus on your R:R. You will be smiling.

I have very poor understanding of the English language. But i hope you would understand what i meant.
Sad i'm not trying to understand PA
  • #773
  • Apr 28, 2016 3:16am Apr 28, 2016 3:16am
Quoting omonisha
For Newbies One needs to understand that there will be loss no matter what ever strategy is. No one can win 100% of the time. What is the secret to win the market? Just achieve the knowledge to win 40% of the time in the market that's all. If one can achieve that then the strategy is solid. No matter what the strategy is MA TDI PA whatever they are comfortable. Every strategy is good. No need to jump from thread to thread or strategy to strategy. Secret is the management R:R. Let lose 6 out of ten 1:1 and win 4 1:2. And we are winner. So stick to...
Excellent post OS that everybody should take on board. Your English is as good as mine
Never argue with a fool; onlookers may not be able to tell the difference.
  • #774
  • Apr 28, 2016 5:52am Apr 28, 2016 5:52am
Quoting omonisha
For Newbies One needs to understand that there will be loss no matter what ever strategy is. No one can win 100% of the time. What is the secret to win the market? Just achieve the knowledge to win 40% of the time in the market that's all. If one can achieve that then the strategy is solid. No matter what the strategy is MA TDI PA whatever they are comfortable. Every strategy is good. No need to jump from thread to thread or strategy to strategy. Secret is the management R:R. Let lose 6 out of ten 1:1 and win 4 1:2. And we are winner. So stick to...
Omonisha, really like your s&r posts, very helpful
  • #775
  • Apr 28, 2016 6:07am Apr 28, 2016 6:07am
Hello LW, back to FF after a couple of months and absolutely thrilled to see your thread. I am the trader I am thanks to your advice and guidance. Hope the readers know the value of your guidance. All the best, God Bless.
  • #776
  • Apr 28, 2016 7:05am Apr 28, 2016 7:05am
Quoting omonisha
For Newbies One needs to understand that there will be loss no matter what ever strategy is. No one can win 100% of the time. What is the secret to win the market? Just achieve the knowledge to win 40% of the time in the market that's all. If one can achieve that then the strategy is solid. No matter what the strategy is MA TDI PA whatever they are comfortable. Every strategy is good. No need to jump from thread to thread or strategy to strategy. Secret is the management R:R. Let lose 6 out of ten 1:1 and win 4 1:2. And we are winner. So stick to...
That's 'lottery model'.
"Most gurus teach the lottery model, but in real life especially in day trading the lottery model fails miserably. Since most of the currency dealers operate on the insurance model lottery traders become an easy opportunity to make money as market makers run stops day in and day out slowly collecting all of the lottery capital."
Good reading about the difference between 'lottery model' and 'insurance model': http://www.bkforex.com/boris-schloss...n-a-hurricane/
Personally I think both have pros and cons...
Simplicity is the ultimate sophistication - Leonardo da Vinci
  • #777
  • Apr 28, 2016 7:25am Apr 28, 2016 7:25am
This would have been a good trade correct? I see everything right here so if Im wrong please let me know. Bearish Engulfing, closed below PAC, TDI and Stoch in agreement, large candles...... please tell me I am right
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpy-d1-oanda-division1.png Size: 81 KB
  • #778
  • Apr 28, 2016 8:34am Apr 28, 2016 8:34am
Dear all, is there a chance to adjust my sl level automatically? For instance, lets assume my tp and sl are 50 pips. If my position get the 25 pips profit, i want my sl at breakeven point. Is it possible with an indicator?
  • #779
  • Apr 28, 2016 9:10am Apr 28, 2016 9:10am
Quoting MoneyTalks58
Dear all, is there a chance to adjust my sl level automatically? For instance, lets assume my tp and sl are 50 pips. If my position get the 25 pips profit, i want my sl at breakeven point. Is it possible with an indicator?
THV Cavemanger is an expert advisor that will do that for you. However, you need to leave your computer on and MT4 running.
Here's a document I knocked together a while ago that will give you an idea.
Attached File(s)
File Type: pdf THV Cavemanger on H1 Charts.pdf   274 KB | 412 downloads
Never argue with a fool; onlookers may not be able to tell the difference.
  • #780
  • Apr 28, 2016 10:09am Apr 28, 2016 10:09am
Thank you lookleft. It will be difficult to run MT4 always however, it can be useful.
0 traders viewing now