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

  • #801
  • Apr 29, 2016 9:22pm Apr 29, 2016 9:22pm
Quoting Nostromo
{quote} Hi Jmn5611, I remembered where I saw it now - it was in Phx62's manuals - the Part1 - see screenshot below, end of 1st paragraph. I am guessing he meant momentum then? {image}
It was just a comment for an experienced trader about his personal preferences. It is true that there is less volume on Friday in the main, but it was just a personal thought for him. It is not a factor in TMS. BigE did not use the word volume in any of his posts. He did state that some days he does not trade, like on Sundays and Fridays, I hope this helps.

Quoting realjumper
I mentioned last week or the week before about Sl placement and following the Big E method of placing it under the previous swing low when buying, or above the previous swing high when selling. I spoke about how seldom the SL would get hit, and how it should be used as a kind of 'emergency' device should there be a massive spike against your trade. Just such a spike came last week when the BOJ surprised the market and I saw the GJ pair move 200 pips in the blink of an eye. I wasn't in any trade at the time (because I don't ever trust the BOJ), but...
Great post about the BOJ. I have been clipped by them a couple of times!
If you are good at something, never do it for free--Joker
  • #802
  • Apr 29, 2016 9:44pm Apr 29, 2016 9:44pm
Quoting realjumper
I mentioned last week or the week before about Sl placement and following the Big E method of placing it under the previous swing low when buying, or above the previous swing high when selling. I spoke about how seldom the SL would get hit, and how it should be used as a kind of 'emergency' device should there be a massive spike against your trade. Just such a spike came last week when the BOJ surprised the market and I saw the GJ pair move 200 pips in the blink of an eye. I wasn't in any trade at the time (because I don't ever trust the BOJ), but...
Actually whole last week was a land mine field with lots of high impact news & announcements. Sometimes having a whole week off also can be a good idea. Retails often be wrong in fast moving volatile market...
Welcome back RJ by the way... I still use your GMTS tools at higher TFs. I appreciate that.
Simplicity is the ultimate sophistication - Leonardo da Vinci
  • #803
  • Apr 29, 2016 10:59pm Apr 29, 2016 10:59pm
RJ,have you trade during asian session?
I lost money in this session mostly
  • #804
  • Apr 29, 2016 11:37pm Apr 29, 2016 11:37pm
Quoting Lookleft
GBPUSD H1 +115 Follow up to my post earlier with the GBPUSD set and forget stress free trades for the week. Only black mark was Wednesday when I forgot to check for GBP news and got stopped at B/E. All trades had an emergency S/L of -30 pips. Once price had moved about 10 pips my way or showed good momentum S/L was moved to -15 pips and Cavemanager was left to manage the trade moving S/L to BE after 20 pips and closing trade at T/P. I didn't even bother at looking at the chart until the end of most days. Apart from today which was a counter...
Very good LL, looking at your chart, you are doing very good job with TMS , heres my trades on EUR/AUD for the week, thanks for sharing
Attached Image (click to enlarge)
Click to Enlarge Name: TMS.jpg Size: 367 KB
I Have Learned to Take Some Losses to Make Profits
  • #805
  • Apr 30, 2016 10:56am Apr 30, 2016 10:56am
I have a question about take profit level to stay the trade. Is it possible set TP regarding the RSI signal(Green) line. For example, are we able to set a command that if green line reach the "60 level" close the trade when buy position or vice versa in shorts, when the price reach 35 level close the trade and bank the pips?
  • #806
  • Apr 30, 2016 5:26pm Apr 30, 2016 5:26pm
Quoting jmn5611
{quote} It was just a comment for an experienced trader about his personal preferences. It is true that there is less volume on Friday in the main, but it was just a personal thought for him. It is not a factor in TMS. BigE did not use the word volume in any of his posts. He did state that some days he does not trade, like on Sundays and Fridays, I hope this helps. {quote} Great post about the BOJ. I have been clipped by them a couple of times!
jmn5611 - thanks for clearing that up, I was concerned I was missing the volume part!
  • #807
  • Apr 30, 2016 5:35pm Apr 30, 2016 5:35pm
Quoting TheScorpS
{quote} Very good LL, looking at your chart, you are doing very good job with TMS , heres my trades on EUR/AUD for the week, thanks for sharing {image}
Hi TSS, I am trying your indicators from your zipfile (thanks for providing that), and I would like to ask - on the ADR indi, what do the numbers for 'T=' and 'Y=' represent?

Also: could anyone recommend an indicator that displays dotted lines for the BRNs please?
  • #808
  • Edited 5:58pm Apr 30, 2016 5:46pm | Edited 5:58pm
Quoting MoneyTalks58
I have a question about take profit level to stay the trade. Is it possible set TP regarding the RSI signal(Green) line. For example, are we able to set a command that if green line reach the "60 level" close the trade when buy position or vice versa in shorts, when the price reach 35 level close the trade and bank the pips?
Am still learning here, but IMHO that would not be a good idea, my take on this is the TDI indicator was originally designed to indicate 'sentiment' not price action. You would be better making your sell decisions directly with PA, or use the flattening/hook over of TDI. For example if you look at the weekly trades by TSS in the post above yours - auto-selling at TDI 60 level would have missed out on a huge portion of the 2 big weekly bull moves as they both exploded through the 60 level and continued upwards.
Big E used the flattening or hook-over of the TDI green line to indicate selling, not the actual 'number level' of TDI. Please correct me if I am wrong!
  • #809
  • Apr 30, 2016 6:18pm Apr 30, 2016 6:18pm
Quoting heispark
{quote} Actually whole last week was a land mine field with lots of high impact news & announcements. Sometimes having a whole week off also can be a good idea. Retails often be wrong in fast moving volatile market... Welcome back RJ by the way... I still use your GMTS tools at higher TFs. I appreciate that.
Hi there...long time!!

You're right...sometimes having a rest from the charts is a good thing, you often come back refreshed and stronger
Doing what you like is Freedom. Liking what you do is Happiness.
  • #810
  • Apr 30, 2016 6:21pm Apr 30, 2016 6:21pm
Quoting leescofield
RJ,have you trade during asian session? I lost money in this session mostly
It's very rare that I will trade the Tokyo session because I'm doing other things at that time. I spoke about my trading times here
Doing what you like is Freedom. Liking what you do is Happiness.
  • #811
  • Apr 30, 2016 6:28pm Apr 30, 2016 6:28pm
Quoting Nostromo
{quote} Hi TSS, I am trying your indicators from your zipfile (thanks for providing that), and I would like to ask - on the ADR indi, what do the numbers for 'T=' and 'Y=' represent? Also: could anyone recommend an indicator that displays dotted lines for the BRNs please?

I use the Sweet Spot indicator for the BRN's (attached). To get the dotted line you need to change the setting on the line "FirstLineStyle_01234 from the default to '2'. 2 is the dotted line (as shown) and 1 is a dashed line. 0 is a solid line. I think by default the 'SecondLineOn' is set to 'True', which gives the 500 levels a line as well, but for me I just want the BRN's so I set 'SecondLineOn' to false.

Hope this helps.....
Attached Image (click to enlarge)
Click to Enlarge Name: sspot.jpg Size: 257 KB
Attached Image
Attached File(s)
File Type: ex4 sweet_spot.ex4   9 KB | 466 downloads
Doing what you like is Freedom. Liking what you do is Happiness.
  • #812
  • May 1, 2016 12:46am May 1, 2016 12:46am
Quoting Nostromo
{quote} Hi TSS, I am trying your indicators from your zipfile (thanks for providing that), and I would like to ask - on the ADR indi, what do the numbers for 'T=' and 'Y=' represent? Also: could anyone recommend an indicator that displays dotted lines for the BRNs please?
T represents Todays ADR , and Y represents Yesterdays ADR , EA on Fridays at the time I took long, it had around 160 pips Y ADR, at the time of taking the trade T ADR was about only 70 pips so there was a lot of pips remaining on that pair, it moved more than 100 pips from where I took profit

And very good post on TDI levels, 60 - 30 levels, PA will stay in those levels upove them , or below them in an extreme over sold or over bought zones, and will generates huge pips , just need to act on those trades
I Have Learned to Take Some Losses to Make Profits
  • #813
  • May 1, 2016 3:27am May 1, 2016 3:27am
Quoting Nostromo
{quote} Am still learning here, but IMHO that would not be a good idea, my take on this is the TDI indicator was originally designed to indicate 'sentiment' not price action. You would be better making your sell decisions directly with PA, or use the flattening/hook over of TDI. For example if you look at the weekly trades by TSS in the post above yours - auto-selling at TDI 60 level would have missed out on a huge portion of the 2 big weekly bull moves as they both exploded through the 60 level and continued upwards. Big E used the flattening or...
Yes, I agree with your toughts. However, when I am at work, I can't look at the charts always. Therefore, to optimize my trades this is the best way for me I guess. Maybe I am wrong.
  • #814
  • May 1, 2016 4:04am May 1, 2016 4:04am
Quoting Nostromo
{quote} Hi TSS, I am trying your indicators from your zipfile (thanks for providing that), and I would like to ask - on the ADR indi, what do the numbers for 'T=' and 'Y=' represent? Also: could anyone recommend an indicator that displays dotted lines for the BRNs please?
This the one you'll see on right hand side of my charts. You can customize which levels you want to see and colors etc.
Attached File(s)
File Type: ex4 BN Levels v1.02.ex4   15 KB | 231 downloads
Never argue with a fool; onlookers may not be able to tell the difference.
  • #815
  • May 1, 2016 4:37am May 1, 2016 4:37am
Had some PMs about exit strategies which is basic trading but might still be worth saying how I do it.
Every trade opened has 2 exits. S/L and T/P. RJ explained in 1 of his posts about S/L which initially protects your account and is eventually moved to BE to protect your profits.
T/P exits basically come in different flavors depending on the TF, market conditions and pair traded etc. Using a hit and hope style of trading may work on a few occasions but in the long run, price will retrace and remove your profits or worst cost you money.
In no particular order as far as I'm concerned they are :-
R:R Based - Should be minimum of 1:1 preferably 1:2 or greater.
S/R Based - BRN or S/R area where price has room to move to. Watch PA for a possible continuation.
TDI Based - TDI hook or flattening. Watch PA for a continuation or reentry.
Time Based - Trades closed at end of trading session
PAC Based - If using the synergy_pro APB, trade closed when APB closes inside PAC (best used on H4)
Obviously there is an overlap as you wouldn't use a S/R based exit if R:R was less than 1:1 you'd look for another trade.
Hope this helps.
Never argue with a fool; onlookers may not be able to tell the difference.
  • #816
  • May 1, 2016 4:51am May 1, 2016 4:51am
Quoting MoneyTalks58
{quote} Yes, I agree with your toughts. However, when I am at work, I can't look at the charts always. Therefore, to optimize my trades this is the best way for me I guess. Maybe I am wrong.
You need to pick a TF that fits your life style. If you can't look at a chart every hour then H1 won't work. If you can't look at a chart every 4 hours then H4 won't work and you are left with trading on the Daily. Or you pick good quality trades, set your S/L and T/P to realistic and achievable levels and set and forget the trade.
Never argue with a fool; onlookers may not be able to tell the difference.
  • #817
  • May 1, 2016 5:21am May 1, 2016 5:21am
Quoting Lookleft
{quote} You need to pick a TF that fits your life style. If you can't look at a chart every hour then H1 won't work. If you can't look at a chart every 4 hours then H4 won't work and you are left with trading on the Daily. Or you pick good quality trades, set your S/L and T/P to realistic and achievable levels and set and forget the trade.
I was hoping you may have commented on my first posted trade yesterday good or bad, but no worries
  • #818
  • May 1, 2016 5:26am May 1, 2016 5:26am
Quoting Lookleft
{quote} You need to pick a TF that fits your life style. If you can't look at a chart every hour then H1 won't work. If you can't look at a chart every 4 hours then H4 won't work and you are left with trading on the Daily. Or you pick good quality trades, set your S/L and T/P to realistic and achievable levels and set and forget the trade.
Thank you Lookleft. This is the logical one. I try to pick R:R 1-1 set and forget style but if price go beyond I got bored. After I look at the charts, I see if i sell near 68 TDI area, TDI mostly touch 32 and I exited before it. I need the figured out regarding your advices.

Thanks again.
  • #819
  • May 1, 2016 5:30am May 1, 2016 5:30am
Quoting Lookleft
{quote} You need to pick a TF that fits your life style. If you can't look at a chart every hour then H1 won't work. If you can't look at a chart every 4 hours then H4 won't work and you are left with trading on the Daily. Or you pick good quality trades, set your S/L and T/P to realistic and achievable levels and set and forget the trade.

​Also, congrats on your new red status!
  • #820
  • May 1, 2016 12:06pm May 1, 2016 12:06pm
Quoting realjumper
{quote} I use the Sweet Spot indicator for the BRN's (attached). To get the dotted line you need to change the setting on the line "FirstLineStyle_01234 from the default to '2'. 2 is the dotted line (as shown) and 1 is a dashed line. 0 is a solid line. I think by default the 'SecondLineOn' is set to 'True', which gives the 500 levels a line as well, but for me I just want the BRN's so I set 'SecondLineOn' to false. Hope this helps..... {image} {image} {file}
Realjumper, thanks very much that is exactly what I was looking for!

Lookleft, thanks for another alternative also.
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