TMS for M30 charts

was indicators that helped or it happened to be at a goldmine location? I m sure at your level, you know what I meant.
Hi Likica, I dont want to hijack in any way your thread. I'm working on a 30 M system for scalping and a lot of friends told me to look at your thread for some clues.
G.L.

Thank you for the answer and best regards

Hi members, just discovered this thread 2 days ago, so lot of thing to read last week end ! First thanks to all of you for sharing your ideas/experience here
I m not using as you MT4 but TS2 from fxcm so my templates will be different, Likica i read what you told about new indicators on previous page so i m not sure im allowed to post my chart here, if it is not conform please just let me know and i will change this asap.

So i did my first trade this morning with TMS but of course as newbie i m not sure ! As you can see i sold eur/nzd when the RSI line cross under the volatility band, i was also watching this level according to the 61.8% fibo.
My questions are, 1) am i not too far from the yellow market base line ? on first page of this thread you preconise to be above...
2) Is it an good idea to cross the TMS information with fibo ?
3) on this example i put my SL to the 61.8% fibo and my tp will be when the RSI line go over on an other line.
Thanks to help me to clarify my thought !

http://hpics.li/d5fb790 sorry cannot found how to upload pictures as you do.. cannot found the attachement link as i read in the forexfactory pdf

Very nice, clean trade here.

Belated Congrats on that one

G'day traders.
ECAD off S/R long pre FO

Hi Likica, I hope you had a great weekend!

Can we say that price was stepping up as well in EC case?

Thanks J. I had a wonderful time with family even tho the weather was cold and wet here during winter. Hope you had a good one too.
Yeah, it was stepping up and away from all S/R, it is currently reaching ATR

****

exited eur/usd short for a loss as it was half way to my SL ...and now it's almost to my TP. I really should know better, I know exiting in the mannor is bad [as i worked out in my calculations] but i was convinced it was gonna hit my SL ....grrrr


still in gbp/jpy

why exit so early allisonmagic.
do you know something i don't?

actually it was a long, not short. my bad.

also have changed my RR in trading this method, am looking for atleast 1: 1.5 from now on, tbh i should probably try those griffensoul type trades as they seem to yield the best RR,

I cut up 20 bits of paper, 13 i wrote win on them, 7 i wrote loose on them [13 represents 65% win, 7 represents 35% loose] and threw them into a cup and picked one randomly out before putting it back in the cup and kept recording the outcome. did this 50 times and the account grew far too slowly for my liking. assuming 1% risked per trade at the end of 10 trades no profit got made, at the end of 20 trades no profit got made and it took a whopping 30 trades to make 2 profit %, currently it's at 11% profit at 50 trades [this was assuming a 1:1 risk reward]

I have no idea about what you did would help you in anyway of trading sucessfully.
Tell me (if you want to share) your trading plan, I might be able to help (if you think you need my help)

hi,
I am still learning as you know but i figured if I was trading tms competently my success rate [winning] would be 65% or more, so I did the cup thing to estimate how long it would take to be in decent profits ... [i had a 65% chance of pulling a winner from the cup]

and also see the distribution of winners to loosers I "might" get.

my trading plan "was" to take a tms setup from upto one hour before FO ...to around 11:30 est with a risk reward of 1:1 ...and no cutting trades early ...unless in exceptional circumstances [high impact news event], I would like to cut losses early but noticed i was doing worst when i did this, and then did some calculations which i posted in the tms thread about 4 days ago which revealed that if one was using a risk reward ratio of 1:1 and cuts trades early when they reach 50% of the way to his sl, he needs to have 80% accuracy or more in order for this pre emptive cutting to be profitable. basically 80% of the trades you cut early have to eventually reach your original stop loss.

today i was stupid and i cut a eur/usd long early at 50% of the way to my stop loss, and now it looks like it might reach my tp. should it reach my original tp such events are devastating for a traders account because assuming he took a loss of like 50 pips [cutting early], he could infact of won 100 pips if he left his stop alone. meaning he is infact down 150 PIPS in real terms,

I am not sure how I can incorporate cutting trades early into my trading plan and actually have it benefit me so I am choosing to wait till either price hits the tp or sl. I see yourself and some other traders sometimes cutting early, but perhaps your win % is so high or your cut accuracy is high enough that you are still profitble, i don't know.

more on trading plan

for counter trend trades I need price to be at a support/resistance level, divergance, trendline break [if there is one], tp not running past 70% of the ATR, apb of higher tf in my favour at time of taking trade, trade taken upto an hour before FO to around 11:30 est

for with-trend trades, i need divergance [continuation] or/and price bouncing off a trendline with a tdi cross during my trading hours. if no trendline then bouncing off a BRN. if it bounces off both a trendline AND brn then all the better, preferbally the tdi cross will be above 50 and mbl but depending on PA sometimes it might be best to take it before it reaches this point so as not to miss out on missed pips. am unsure if i need a same colour APB from h1 [if trading m30],

im not as good at taking with-trend trades as counter trading [strange i know]
I think it's because i spent so long trying to counter trend trade rather than take trades with the trend

for HH/HL trades i need some divergance at one of the HH/HL's, a trendline break [if there is one], also a tdi cross/bounce with mbl below tdi cross

for the steeping up trades [price is steeping up], i need a HH/HL and tdi cross above mbl
[im not very good at these trades]

have not attempted cats ears trades [looks too advanced]

have not attempted head and shoulders trades [looks too advanced and most of the time your H & S does not resemble a textbook H & S making them difficult for me to spot]

have not attempted jumping into trades whilst the bar is still moving [looks too advanced for me]

I am sure there are other setups i have forgot, but the ones mentioned are the main ones I am working on.

short terms goals - Am looking to make progress with with-trend trading, and HL/HH trading.
medium term goals - am looking to make progress with price steeping up trading
long term goals - am looking to make progress with some of the other trades which i am finding too advanced atm

right now I am most confident with counter trend trades.

today work gbpjpy +70 pips

are you using TDI / TMS strategy ?

yes 3 years again , but this is more powerful and more accurate than tms

Nice and clean off the TL, well done as always

ok im confused....how are currency strength meter, adx and regression channels any way similar to the tms strategy?
great trade tho!!!

I think you will ban from this thread~

so...if your system more accurate than TMS, why you put on this TMS thread...why you not open your own thread..?

I think on your level, you know what i mean..

ECAD +54 pips , after LO , away from DOL + 200ema