QuoteDislikedis this a webplatform you're using? What is it? Thank you
- #73,685
- Dec 4, 2016 1:25pm Dec 4, 2016 1:25pm
- Joined Nov 2013 | Status: Trader | 2,780 Posts
Ok another helpful PDF by Emmanuel.. who has done incredible work... so thanks Emmanuel
so don't thank me for posting I am just re-sharing what was shared before.. getting new eyeballs to see what's useful.. obviously the start of the thread is an important read for the new guys..
Below I have posted how Emmanuel does his planning. following this PDF may not give you immediate success in doing it like him but I think training and improving on this aspect over time is possible.. there are many more components to success in trading....
so don't thank me for posting I am just re-sharing what was shared before.. getting new eyeballs to see what's useful.. obviously the start of the thread is an important read for the new guys..
Below I have posted how Emmanuel does his planning. following this PDF may not give you immediate success in doing it like him but I think training and improving on this aspect over time is possible.. there are many more components to success in trading....
It's in fear when people show what they truly value.
{quote} Hi, Cpt. Can you explain your entry rules? Why not entry short? It seems also tdi cross, two bar entry, close under ema I am very pluzzed about these trade see attached. thanks advanced {image} {image} {image}
Let me offer some insight into your questions. Regarding CPT's trade, the short entry should not be considered because 1) the tdi cross down happened above the 68 level and these crosses overwhelmingly fail, 2) if you look left, on the timeframe being traded, we are clearly making HL's & HH's (higher-lows, higher-highs) which indicate we are in an uptrend. Would you consider a short trade in a uptrend market? Regarding the trade that is shown on the chart, this is a proper TMS trade, good job CPT.
The second chart, HSN trade, i am guessing the trade was based mainly on the PA bounce after the crossing of the blue EMA. Price broke above the ema, then tested it 3 times before continuing on up. You will find that as you spend more time trading TMS, or any other indicator based system, for a long enough time, you will begin to see "signals" before they are confirmed by the indicator. This is basically a product of having spent enough time observing price, and therefore learning PA. Think of this trade as an advanced trade (early entry), not something beginners should try, but perhaps and entry style you will consider in the future. After enrty candle closed, this would have been a proper Tms signal, confirming HSN's intuition.
Regarding the third trade, Saranga's, while this appears to be a profitable trade, it is clearly not a TMS trade. Unless trade was taken on a lower TF and the incorrect chart was posted, this is simply not a tms trade. Ignore this chart from a TMS perspective.
Hope this helps,
N.
{quote} Very puzzled about your trade. 1) the bars above ema but you short 2) green not cross red when short 3) not wait the bar close when entry can you explain your entry rules and exits rules? {image}
BlueSky, your notes on the chart are absolutely correct. The candle you identified would have been the proper TMS entry.
The entry shown on the chart was either a TMS entry from a much lower time frame and the incorrect chart was posted on the thread, or it is simply not a tms trade.
Also, check what the news indicator is telling you on the chart (OPEC & CAD) . . . What are the TMS rules regarding news trading? What does you trade plan say about news?
Hope this helps,
N
Thanks a lot. I am looking for that.if you have any thing about big picture plan please share.very useful.{quote}
I agree the PDF's in this thread are all very useful. However, regarding topics that you might consider very important, i recommend you do additional research by clicking on member names as using the "search within posts" function. I have highlighted it below. This function might be the most useful feature on FF.
The search conducted below yeilded 97 results for Emmanuel using the term BPP. The pdf is great, but additional info is available within the thread.
Furthermore, since you expressed an interest in BPP, i suggest you have a look through member Omonisha posts and pics. This is another member who posted their charts during the weekend with his planA/PlanB. Worth a read if you want to learn more about BPP.
All the best,
N
- #73,691
- Dec 4, 2016 4:59pm Dec 4, 2016 4:59pm
- Joined Nov 2013 | Status: Trader | 2,780 Posts
Probably lucky: {image}
not luck no..
It's in fear when people show what they truly value.
- #73,693
- Dec 4, 2016 6:26pm Dec 4, 2016 6:26pm
- Joined Nov 2013 | Status: Trader | 2,780 Posts
It's in fear when people show what they truly value.
{quote} well maybe he was trading the downtrend in which case the event you describe helps such a trade of course but ultimately was inevitable.. who knows.. I remember Emmanuel mentioned recently that when your trading right, these events tend to go in your direction.
Ensale,
Perhaps due to my attempt at humor you have misunderstood what i am saying. Let me be very clear because this is an very very important point.
As we can see from the chart above, Skyfinger took this trade on friday. Lets not discuss whether it was a good TDI cross, setup, etc etc (Although skyfinger, should you want some feedback i'm sure many will be happy to give you their opinions). The point that needs to be made about this trade is that it was held over the weekend, exposing the trader and his account to additional risk, a new kind of risk. Furthermore, not just any weekend, but a weekend with a scheduled major news event (EU's 3rd largest economy major referendum). Luckily for Skyfinger, everything worked out to his favor, but see what would have happened in the opposite circumstance.
Assuming Skyfinger's initial SL was at the last swing-hi plus few pips (standard tms rule), that distance was approx 81pips. Lets also assume Skyfinger risked 2% on this trade. The weekend price gap was also about 81pips. If the referendum had gone the other way and the gap was in the opposite directions Skyfinger would have lost accordingly:
81pip gap higher: 2.00% loss
125pip gap higher: 3.08% loss
200pip gap higher: 4.94% loss
325pip gap higher: 8.02% loss
Could you imagine the above gaps with 5% risk, or even worse with BigE style risk. Think about it.
The important takeaway from this is that, should their be a weekend price gap against you, your broker will not respect your original stop loss. Even if you had moved your SL to breakeven before friday close. Usually, the broker will access your loss based on the first few ticks on moday open (every broker has different rules). This is a unique risk, different from other SL risks. I am fairly confident most serious traders strongly discourage holding a trade over the weekend unless you have a significant cushion of profit, have scaled partial profits, etc.
Since you mentioned Emmanuel, i will remind you that he has stated numerous times in the thread he does not open me/me or swing trades on friday. There are surely multiple reasons he has created this rule in his trade plan, but i am very very sure that weekend gap risk was one of his considerations. Furthermore, what did BigE or other senior TMS members say about holding trades over the weekend?
Personally, i hold many of my trades over the weekend, its a risk i plan for and accept. However, its important to understand this comes with a unique risk: Stop-losses are meaningless over the weekend. Understanding this risk is your first step in mitigating it.
Hope this helps,
N.
- #73,698
- Dec 5, 2016 1:37am Dec 5, 2016 1:37am
- Joined Nov 2013 | Status: Trader | 2,780 Posts
{quote} Ensale, Perhaps due to my attempt at humor you have misunderstood what i am saying. Let me be very clear because this is an very very important point. {image} As we can see from the chart above, Skyfinger took this trade on friday. Lets not discuss whether it was a good TDI cross, setup, etc etc (Although skyfinger, should you want some feedback i'm sure many will be happy to give you their opinions). The point that needs to be made about this trade is that it was held over the weekend, exposing the trader and his account to additional risk,...
.. we all learn from this too..Of course there are many variables in any trade and I Assume trading has nothing to do with luck. if he has taken that risk then the market has rewarded him in this case, maybe in another case he will be not so "rewarded"... I assume he will input rules in any such case..
It's in fear when people show what they truly value.
