TMS for Newbies Part 2 | Page 45 | Forex Factory

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

  • #881
  • May 9, 2016 7:01pm May 9, 2016 7:01pm
Quoting MoneyTalks58
{quote} Other then EU, what other majors can be more logical to trade? I know my mistake is to look almost all pairs. I have to quit that habit.
AU, GU, UCAD
If you are good at something, never do it for free--Joker
  • #882
  • May 9, 2016 7:40pm May 9, 2016 7:40pm
Quoting Davit
Thanks for starting this thread LW I am a student of TMS and looking forward to learn more. Just a question.What TF you prefer to trade. Thanks LW
May I know where can I find the rules for trading TMS? Tnx
  • #883
  • May 9, 2016 7:54pm May 9, 2016 7:54pm
Quoting jmn5611
{quote} To add to omonishas excellent post: 1. To make money, prices have to move. To do that, bulls and bears have to be in the market. This occurs during the london session and the first three hours of New York. 2. Personally, I sideline at NFP, FOMC, Yellen and Draghi speeches. Keep a FFCal on your chart and highlight the red news. 3. Personally, I trade E/U only most weeks, it gives enough pips. But any pair can be traded. Avoid exotics and any NZD pairs as it will be hard to overcome the spread. It can still be done on the H4 and above TF if...
jmn5611, firstly - love the avatar - I mentally read your posts in the french accented voice of the Merovingian

secondly - I have been trying to find a good compact news indicator, and you mentioned "Keep a FFCal on your chart and highlight the red news" is this an indicator that puts the FF news onto an mt4 chart?
  • #884
  • May 10, 2016 1:22am May 10, 2016 1:22am
Quoting Nostromo
{quote} jmn5611, firstly - love the avatar - I mentally read your posts in the french accented voice of the Merovingian secondly - I have been trying to find a good compact news indicator, and you mentioned "Keep a FFCal on your chart and highlight the red news" is this an indicator that puts the FF news onto an mt4 chart?
The Merovingian gets to the heart of trading....action, reaction, cause, and effect.

There are many, many news indicators on this site. Here is one that is well suited for the Newbie.

Hanover has also built an impressive news indicator, but that is more for Intermediates and Experts in FX. I leave as a homework assignment for you to Google.

Make sure you enable DLL with all news indies that you find.
Attached File(s)
File Type: ex4 FFCal-WUKAR.ex4   47 KB | 402 downloads
If you are good at something, never do it for free--Joker
  • #885
  • May 10, 2016 1:22am May 10, 2016 1:22am
Quoting fxenthusiast
{quote} May I know where can I find the rules for trading TMS? Tnx
Here is the basic Entry and Exit rules copied from the thread started by MrAussie. Any other questions just ask and someone will be able to help.

Entry and Exit Rules

Entry: APB/PA 1st or 2nd candle entry is best if they are travelling out of PAC or moving away from MA's...Following the higher TF trend and TDI showing a cross between
12- 2 clock hands or 4-6 clock hands

Exit: Exit could be at confluence zone, previous S/R, TDI hook, TDI cross red...There is no hard and fast rule to exit your trade as most of the time TDI hook back for an hour and then start moving in the original direction...Use your intuition, experience and knowledge when to exit your trade
Never argue with a fool; onlookers may not be able to tell the difference.
  • #886
  • May 10, 2016 5:08am May 10, 2016 5:08am
Quoting Lookleft
{quote} Here is the basic Entry and Exit rules copied from the thread started by MrAussie. Any other questions just ask and someone will be able to help. Entry and Exit Rules Entry: APB/PA 1st or 2nd candle entry is best if they are travelling out of PAC or moving away from MA's...Following the higher TF trend and TDI showing a cross between 12- 2 clock hands or 4-6 clock hands Exit: Exit could be at confluence zone, previous S/R, TDI hook, TDI cross red...There is no hard and fast rule to exit your trade as most of the time TDI hook back for an...
Hi Lookleft,

Are you able to post an image showing an entry which the candle is travelling out of PAC and moving away from MA? I tried to go back to MrAussie's thread but the attachment has been deleted.
  • #887
  • May 10, 2016 5:51am May 10, 2016 5:51am
Quoting forex-newbie
{quote} Hi Lookleft, Are you able to post an image showing an entry which the candle is travelling out of PAC and moving away from MA? I tried to go back to MrAussie's thread but the attachment has been deleted.
OK sorry for the confusion.
You use the PAC OR the MA not both. If you use the synergy_pro_APB (posted on page 1) the PAC is built in. The rule is that you enter after the APB has closed outside the PAC. This is a conservative entry but will ensure you have momentum and will help you see consolidation.
If you want to use the MA, go to the APB indicators properties and on the input tab set the PAC color to nothing. You then add a MA 5+shift 3+typical. The rule here is that you enter when the APB has closed above/below the MA.
Hope that makes sense if not ask again and we'll get you set up.
Never argue with a fool; onlookers may not be able to tell the difference.
  • #888
  • May 10, 2016 3:10pm May 10, 2016 3:10pm
Quoting jmn5611
{quote} The Merovingian gets to the heart of trading....action, reaction, cause, and effect. There are many, many news indicators on this site. Here is one that is well suited for the Newbie. Hanover has also built an impressive news indicator, but that is more for Intermediates and Experts in FX. I leave as a homework assignment for you to Google. Make sure you enable DLL with all news indies that you find. {file}
Thanks for the indicator!
  • #889
  • May 11, 2016 3:22am May 11, 2016 3:22am
Hello guys, I just made this trade on USD/JPY on monday. I based it on Price action and entered long when it broke last weeks high at 108.000. It went for nearly 100 Pips but since it is a trade on the D1 timeframe, I thought it would reach the historical resistance at 112.000. But it reversed now at since I'm not an experienced trader, I ask myself i I should take the profit when it reaches a number like 100 pips. On the h4 screen, the Tdi has crossed, but on D1 it still looks like a good trade.
When do you guys take profit on a D1 trade?

The pics are taken on the Trading station app for mobile phone.

I hope you can answer me. Thank you and good trading everyone.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Screenshot_2016-05-11-10-15-33.png Size: 104 KB
Click to Enlarge Name: Screenshot_2016-05-11-10-15-39.png Size: 108 KB
  • #890
  • May 11, 2016 4:06am May 11, 2016 4:06am
Quoting Mbt
Hello guys, I just made this trade on USD/JPY on monday. I based it on Price action and entered long when it broke last weeks high at 108.000. It went for nearly 100 Pips but since it is a trade on the D1 timeframe, I thought it would reach the historical resistance at 112.000. But it reversed now at since I'm not an experienced trader, I ask myself i I should take the profit when it reaches a number like 100 pips. On the h4 screen, the Tdi has crossed, but on D1 it still looks like a good trade. When do you guys take profit on a D1 trade? The pics...
When trading counter trend trade we must be fast on taking profit. Price continuously making LL. Now it is in correction or profit taking mode. Price hit the previous structure where we should take some profit or BE. As it was a counter trend trade we should have out and wait for another PA if it wants go to next level or not.
Attached Image (click to enlarge)
Click to Enlarge Name: 2016-05-11_14-46-23USDJPY.png Size: 140 KB
Sad i'm not trying to understand PA
  • #891
  • May 11, 2016 4:08am May 11, 2016 4:08am
Quoting Mbt
Hello guys, I just made this trade on USD/JPY on monday. I based it on Price action and entered long when it broke last weeks high at 108.000. It went for nearly 100 Pips but since it is a trade on the D1 timeframe, I thought it would reach the historical resistance at 112.000. But it reversed now at since I'm not an experienced trader, I ask myself i I should take the profit when it reaches a number like 100 pips. On the h4 screen, the Tdi has crossed, but on D1 it still looks like a good trade. When do you guys take profit on a D1 trade? The pics...
If you look at D1 the long term trend is down so you are trading against the trend also looking up a TF the weekly is in a down trend. If you look at previous pullbacks on D1 you will see that they are about 6-8 blue APB so you need to think what would make this trade go further. Also the D1 TDI is starting to show a hook/flattening. It depends how you want to manage the trade but you should always have 2 exits for each trade. Your S/L and your TP set to a realistic expectation.
Good luck
Never argue with a fool; onlookers may not be able to tell the difference.
  • #892
  • May 11, 2016 5:28am May 11, 2016 5:28am
Quoting Nostromo
{quote} Thanks for the indicator!
No worries, trade well!
If you are good at something, never do it for free--Joker
  • #893
  • May 11, 2016 9:08am May 11, 2016 9:08am
<p>Thank you Lookleft and Omonisha. You look like experienced trader. Do you trade with the big picture Plan like emmanuel on the original thread trades?I traded like him for a few weeks and made profit but also I few mistakes like this one. I'm just searching for my style of trading tms and I would highly appreciate it, if you can tell me how you trade it, because you seem like successfull traders. For example Eelfranz, who created the original thread, traded the same strategy a different way. I would like to hear youre way of trading it.
Thank you.
  • #894
  • May 12, 2016 12:21am May 12, 2016 12:21am
Quoting Mbt
<p>Thank you Lookleft and Omonisha. You look like experienced trader. Do you trade with the big picture Plan like emmanuel on the original thread trades?I traded like him for a few weeks and made profit but also I few mistakes like this one. I'm just searching for my style of trading tms and I would highly appreciate it, if you can tell me how you trade it, because you seem like successfull traders. For example Eelfranz, who created the original thread, traded the same strategy a different way. I would like to hear youre way of trading it. Thank...
I am not experienced just entered on my 4th year with TMS a happy trader. I am still learning. I trade with multi time frame approach. I am more interested with PA then just a cross. We all have our own understanding of TMS. But basic is same PA+TDI+S/R. One thing that i am learning and practicing is when i look at the chart i want to find what PA is driving current price and where it is going to hit first. And trade them according to my understanding. Every weekend i analyse my pairs and mark my areas of interest where i want to get in. Pairs those have unclear PA i skip those. I like to look at the R:R. And some time i break rules as well. I believe it is needed to practice and spend lots of time on the chart to find a style that suits one. Big E had good understanding of the PA and it's surrounding. He practiced a lot and spent lot of times before calling it TMS. Traders must aware TMS is only TMS when one have that background achieving that understanding trough practice.

Wish you very good luck
Sad i'm not trying to understand PA
  • #895
  • May 12, 2016 12:29am May 12, 2016 12:29am
Quoting omonisha
{quote} I am not experienced just entered on my 4th year with TMS a happy trader. I am still learning. I trade with multi time frame approach. I am more interested with PA then just a cross. We all have our own understanding of TMS. But basic is same PA+TDI+S/R. One thing that i am learning and practicing is when i look at the chart i want to find what PA is driving current price and where it is going to hit first. And trade them according to my understanding. Every weekend i analyse my pairs and mark my areas of interest where i want to get in....
Can you let me know where I can learn more on PA?
  • #896
  • May 12, 2016 12:42am May 12, 2016 12:42am
Quoting forex-newbie
{quote} Can you let me know where I can learn more on PA?
My friend PA is a big subject. There are many branch of PA. Some explain this some explains that. You need to google it and find whatever you can related to PA. Read them practice them and find which style of PA is comfortable for you. Here in FF also there are many threads those trade with PA. But be careful some will ask you to join there private forum. Do not fall for that. Free stuff that are shared are enough for a trader. Remember you can't beat the market 100%.
Sad i'm not trying to understand PA
  • #897
  • May 12, 2016 1:04am May 12, 2016 1:04am
Quoting omonisha
{quote} My friend PA is a big subject. There are many branch of PA. Some explain this some explains that. You need to google it and find whatever you can related to PA. Read them practice them and find which style of PA is comfortable for you. Here in FF also there are many threads those trade with PA. But be careful some will ask you to join there private forum. Do not fall for that. Free stuff that are shared are enough for a trader. Remember you can't beat the market 100%.
Noted
I found this and hope it helps newbie like me :
http://forums.babypips.com/free-fore...ce-action.html
  • #898
  • May 12, 2016 1:17am May 12, 2016 1:17am
Quoting omonisha
{quote} My friend PA is a big subject. There are many branch of PA. Some explain this some explains that. You need to google it and find whatever you can related to PA. Read them practice them and find which style of PA is comfortable for you. Here in FF also there are many threads those trade with PA. But be careful some will ask you to join there private forum. Do not fall for that. Free stuff that are shared are enough for a trader. Remember you can't beat the market 100%.
omonisha, when you do your PA analysis, is it based on APB or Japanese candlestick?
  • #899
  • May 12, 2016 1:25am May 12, 2016 1:25am
Quoting forex-newbie
{quote} omonisha, when you do your PA analysis, is it based on APB or Japanese candlestick?
Japanese candlestick i took a peek on your link it is nice
Sad i'm not trying to understand PA
  • #900
  • May 13, 2016 2:31am May 13, 2016 2:31am
Quoting Mbt
<p>Thank you Lookleft and Omonisha. You look like experienced trader. Do you trade with the big picture Plan like emmanuel on the original thread trades?I traded like him for a few weeks and made profit but also I few mistakes like this one. I'm just searching for my style of trading tms and I would highly appreciate it, if you can tell me how you trade it, because you seem like successfull traders. For example Eelfranz, who created the original thread, traded the same strategy a different way. I would like to hear youre way of trading it. Thank...
Glad to see you are looking for your style of trading TMS. Most newbies make the mistake of trying to copy other traders, they're the ones you see jumping from thread to thread looking for the easy way out. Unfortunately they usually fail. Using TMS as your core trading method then developing your own style is the way to go. No 2 traders trade the same, we all have our own differences in what we see.
My top down planning consists of marking weekly, daily and other S/R zones which become my decision points for a pair. It then becomes a case of patience and trading what you actually see and not what you hope to see and setting realistic targets. Knowing when not to trade is as important as knowing when to trade.
Keep things simple, post your charts here and adapt the feedback to your style and you'll progress.
Never argue with a fool; onlookers may not be able to tell the difference.
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