Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #74,482
- Jan 6, 2017 3:05am Jan 6, 2017 3:05am
- Joined Nov 2008 | Status: Trader | 50,214 Posts
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #74,485
- Jan 6, 2017 3:17am Jan 6, 2017 3:17am
- Joined Nov 2008 | Status: Trader | 50,214 Posts
I live in the Eastern Time Zone so this makes the Asian session very convenient to trade. Does anyone have experience trading the TMS method during this time and what are your thoughts?
Sydney opens 2 hours before Tokyo opens.
Look at the high-low of the first 2 hours of Sydney trading (SYD-2H), usually this is narrow range about 20 pips. Trade the breakout of this narrow range when Tokyo open and there is Asian market liquidity flow. SL and TP is small , 15 to 20 pips.
Rest of the day, I focus on trading H4 and D1.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #74,487
- Jan 6, 2017 6:43am Jan 6, 2017 6:43am
- | Joined Oct 2016 | Status: Member of the TMS Community | 161 Posts
Every now and then I see people asking questions about the simplicity of a trading system ( like TMS)
People tend to believe that to be succesful one must be able to analyse complex charts, patterns, use the most sofisiticated indicators and so on ending up with asking if a system like TMS could be profitable.
I have prepared a little example which will show you how effective TMS actualy is.
Now, I am going to post two charts here, telling the SAME story. The first chart is a non TMS chart. The second, you guessed
is TMS.
Before continuing, today is friday, January 6th - Non Farm Payrol Day
Chart 1 (both 30 minutes)
The incrediants of this chart are: 1) Price Action, 2) Market Profile, 3) Andrews Pitchfork.
As you can see Price action is breaking down outside the Value Zone of the Market Profile.
Also it has broken the lower band of Andrews Pitchfork. So a move down may occur. ( We all agree?)
Now the second chart: 1H chart
Green has crossed Red, Stochs down, second candle. Valid TMS signal.
Now, this is telling us the same story and I can tell you that I took this trade already and closed it in profit.
So my question would be, which chart would you prefer to trade?
This is only to demonstrate that in fact, TMS is very effective if used in the right way.
By the way: Chart 1 also is not bad at all. So please, do not read this as "this one is better than the other one". Both are legit systems. Only, TMS is more simple
People tend to believe that to be succesful one must be able to analyse complex charts, patterns, use the most sofisiticated indicators and so on ending up with asking if a system like TMS could be profitable.
I have prepared a little example which will show you how effective TMS actualy is.
Now, I am going to post two charts here, telling the SAME story. The first chart is a non TMS chart. The second, you guessed
is TMS.Before continuing, today is friday, January 6th - Non Farm Payrol Day
Chart 1 (both 30 minutes)
The incrediants of this chart are: 1) Price Action, 2) Market Profile, 3) Andrews Pitchfork.
As you can see Price action is breaking down outside the Value Zone of the Market Profile.
Also it has broken the lower band of Andrews Pitchfork. So a move down may occur. ( We all agree?)
Now the second chart: 1H chart
Green has crossed Red, Stochs down, second candle. Valid TMS signal.
Now, this is telling us the same story and I can tell you that I took this trade already and closed it in profit.
So my question would be, which chart would you prefer to trade?
This is only to demonstrate that in fact, TMS is very effective if used in the right way.
By the way: Chart 1 also is not bad at all. So please, do not read this as "this one is better than the other one". Both are legit systems. Only, TMS is more simple
First comes knowledge about yourself, then comes a system...
Every now and then I see people asking questions about the simplicity of a trading system ( like TMS) People tend to believe that to be succesful one must be able to analyse complex charts, patterns, use the most sofisiticated indicators and so on ending up with asking if a system like TMS could be profitable. I have prepared a little example which will show you how effective TMS actualy is. Now, I am going to post two charts here, telling the SAME story. The first chart is a non TMS chart. The second, you guessed
I like the clarity of your thinking - I believe that my problem is that I tend to over analyse a situation which results in non-action. There is a lesson to learn here
awm
- #74,490
- Jan 6, 2017 8:02am Jan 6, 2017 8:02am
- Joined Nov 2013 | Status: Trader | 2,780 Posts
Every now and then I see people asking questions about the simplicity of a trading system ( like TMS) People tend to believe that to be succesful one must be able to analyse complex charts, patterns, use the most sofisiticated indicators and so on ending up with asking if a system like TMS could be profitable. I have prepared a little example which will show you how effective TMS actualy is. Now, I am going to post two charts here, telling the SAME story. The first chart is a non TMS chart. The second, you guessed
It's in fear when people show what they truly value.
- #74,491
- Jan 6, 2017 8:32am Jan 6, 2017 8:32am
- Joined Nov 2013 | Status: Trader | 2,780 Posts
"As a last observation I would like to show you how a NFP Day can look like and how retail traders are often tricked by the institutionals.
For this purpose I have to use my 1st chart again from my previous post since it shows you better what I mean:
Attached Image (click to enlarge)
http://www.forexfactory.com/attachme...1&d=1483709950
Now, if you look at the last day you see that I have drawn 4 rectangles.
The first Blue one is the area in which you see price action suggesting a move may go up. ( this is the first misleading information)
We see then a retracement and a little (false) breakout to the downside (this is where I took my sell trade based on TMS).
After that, and now we are close to the clue of this story we see a retracement back up ( green rectangle, two candles) which suggest price will move up.
These two candles represent the last hour before NFP.
What you see next, right at and/or after NFP is a sudden spike up, real fast (red rectangle). Now THIS is the moment where the big guys are taking out Stoplosses from us, poor retail traders You see, many retail traders may have been tempted to place buy orders based on those two bullish candles in the red rectangle. They were now stopped out since most probably their SL will have been in the area of that spike. Then the price shoot down in the original direction which was in fact bearish and was predicted by as well chart 1 as chart 2 ( our TMS) signal.
So you see what is happening here and how well prepared the institutionals try to trick the retail traders?
Therefore alone, it is never a good idea to trade on big impact news.
Hope this helps" jan cuelemans
found it.
did you trade news in the past?
For this purpose I have to use my 1st chart again from my previous post since it shows you better what I mean:
Attached Image (click to enlarge)
http://www.forexfactory.com/attachme...1&d=1483709950
Now, if you look at the last day you see that I have drawn 4 rectangles.
The first Blue one is the area in which you see price action suggesting a move may go up. ( this is the first misleading information)
We see then a retracement and a little (false) breakout to the downside (this is where I took my sell trade based on TMS).
After that, and now we are close to the clue of this story we see a retracement back up ( green rectangle, two candles) which suggest price will move up.
These two candles represent the last hour before NFP.
What you see next, right at and/or after NFP is a sudden spike up, real fast (red rectangle). Now THIS is the moment where the big guys are taking out Stoplosses from us, poor retail traders
You see, many retail traders may have been tempted to place buy orders based on those two bullish candles in the red rectangle. They were now stopped out since most probably their SL will have been in the area of that spike. Then the price shoot down in the original direction which was in fact bearish and was predicted by as well chart 1 as chart 2 ( our TMS) signal.So you see what is happening here and how well prepared the institutionals try to trick the retail traders?
Therefore alone, it is never a good idea to trade on big impact news.
Hope this helps
" jan cuelemans found it.
did you trade news in the past?
It's in fear when people show what they truly value.
- #74,493
- Jan 6, 2017 9:30am Jan 6, 2017 9:30am
- Joined Nov 2013 | Status: Trader | 2,780 Posts
It's in fear when people show what they truly value.
- #74,494
- Jan 6, 2017 9:41am Jan 6, 2017 9:41am
- | Joined Oct 2016 | Status: Member of the TMS Community | 161 Posts
{quote} oh ok I see what you mean.. news can be traded, those wicks can be opportunity to get in if you know what your looking for.. I made pips on that EU NFP buy today.. had no problems.. I don't always trade news..
News can be traded IF one knows how and where to look. You see, about a year ago I traded also the news. Specialy NFP. Two months after eachother I made a very nice profit. At that point I thought I knew it all. In the third month the markets showed me what being humble means
I lost at least my two months gains back then. So for me, no News trading anymore.
First comes knowledge about yourself, then comes a system...
- #74,495
- Jan 6, 2017 9:46am Jan 6, 2017 9:46am
- Joined Nov 2013 | Status: Trader | 2,780 Posts
{quote} You are right Ensale.
It's in fear when people show what they truly value.
- #74,496
- Jan 6, 2017 9:52am Jan 6, 2017 9:52am
- Joined Nov 2013 | Status: Trader | 2,780 Posts
It's in fear when people show what they truly value.
- #74,497
- Jan 6, 2017 10:06am Jan 6, 2017 10:06am
Every system is as good as the trader Do I have to say more I wish you all a very nice weekend. Next week the markets are "normal" again. We hope all for a lot of volatility.
Do I have to say more I wish you all a very nice weekend. Next week the markets are "normal" again. We hope all for a lot of volatility.
Keep it simple without too many crappy indicators!
- #74,498
- Jan 6, 2017 10:07am Jan 6, 2017 10:07am
- | Membership Revoked | Joined Mar 2016 | 1,615 Posts
- #74,500
- Jan 6, 2017 10:50am Jan 6, 2017 10:50am
- Joined Nov 2013 | Status: Trader | 2,780 Posts
Every system is as good as the trader
It's in fear when people show what they truly value.