Entered about an hour ago. Yellow MA is 34EMA. Comments? {image}
Sometimes, it's fun to have big @@@@s ... good luck
All for one and one for all
- #74,641
- Jan 11, 2017 3:26am Jan 11, 2017 3:26am
Sometimes, it's fun to have big @@@@s ... good luck
{quote} That's a punchy trade Rub, but it is working even though based on the H4 that's not a clean cross ... however, I see the H1 provided a good signal, D1 and W1 time frames also provide confidence ... the evidence is in your favour that a good cross is coming but this was a high risk entry ... but you know that right! Sometimes, it's fun to have big @@@@s ... good luck
- #74,643
- Jan 11, 2017 3:40am Jan 11, 2017 3:40am
Hi fellow TMS tradersToday, for the first time since I started working with TMS I faced my first bigger loss. I want you to understand that this was NOT caused by the strategy (TMS) but purely by myself. In My Trading Journal of today I have described my thoughts of today. My biggest concern is still my moneymanagement. I think I may state that I have understood TMS quite well. It is not that. I have traded the system and in general it workes very well. Even...
When trading the D1 do you look at the ATR/ADR (average ranges)? E.G. the EURUSD right now is about 87cents which suggests a stop maybe 100 cents away to give the trade enough room to breathe. So, take 100 cents x your position size, then apply MM rules (anywhere from 2% conservative to 10% aggressive) and that will tell you what your trading balance should be JUST FOR THIS TRADE. If at the same time you have other positions, the risk exposure rises, obviously.
I find you need a different trading head when trading longer TF's as you may have to sit through larger losses before the larger profits appear ... it can be a mind !*@£
I notice you have said in the past that you take profits quite quickly when using H4 so maybe longer TF trading is not for you ... pay attention to what your good at and focus on that, just a thought.
Maybe just maybe, it was one of those trades ... we simply cannot get it right all of the time. Nature of the trading beast.
Chin up ... charge on!
All for one and one for all
- #74,644
- Jan 11, 2017 3:43am Jan 11, 2017 3:43am
- Joined Jul 2012 | Status: Trader | 1,006 Posts
GBP/USD {image} {image} {image}
- #74,646
- Jan 11, 2017 4:50am Jan 11, 2017 4:50am
- | Joined Oct 2016 | Status: Member of the TMS Community | 161 Posts
{quote} I notice you have said in the past that you take profits quite quickly when using H4 so maybe longer TF trading is not for you ... pay attention to what your good at and focus on that, just a thought. Maybe just maybe, it was one of those trades ... we simply cannot get it right all of the time. Nature of the trading beast. Chin up ... charge on!
As for longer timeframes: Yes, till now I have taken always small profits (in pips) using TMS. This was also because we were approaching hollidays when I discovered this thread. In October somewhere I found this and I tested the waters. It turned out to be succesfull but then we were too close to Xmass and so on. This is mainly why I took profit soon.
However, the longer timeframes, Weekly, Daily have always been my save-guards. Also in the past, when some trades went against me I used to turn to the longer TF's and based my resque trade based on those and it always helped (ok... always minus one)
I realise one must have a lot more capital to trade these higher tf's. My current account which you can see here is a live account. Before I started TMS I was using a strategy based on Market Profile and supply and demand. That worked but I made one very, very big mistake. I was caught on a friday in a trade which went against me and took a lot of money. My biggest mistake was to leave it open during the weekend. You can imagine what happened? On monday there was a big gap making my loss even worse. I had to close down?. My 1000 account went down to 108.
I decided this would be the last time I would experience something like that and I did only blame myself for such a stupid mistake.
You see, also in that previous strategy I was relatively succesful but there was simply something that did not work for me.
Then I discovered this thread (TMS) and somehow right at the beginning it felt just right.
So I recovered my account comming from 108 to 386 at the moment. It takes a lot of discipline and dedication but for me TMS has proven itself already and as I said before, somehow TMS feels very comfortable for me. I do get the signals right, I do understand. And in fact, I did recover my yesterdays loss by trading this night based on a weekly chart
Now I realise that in fact I must focus on developping a solid money management system.
Thank you ones again. You comments (and all the comments from anybody) are much appreciated
First comes knowledge about yourself, then comes a system...
- #74,647
- Jan 11, 2017 5:40am Jan 11, 2017 5:40am
- Joined Nov 2008 | Status: Trader | 50,194 Posts
EURCAD Jan 11 H1 trades closed.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #74,652
- Jan 11, 2017 8:25am Jan 11, 2017 8:25am
- | Joined Oct 2016 | Status: Member of the TMS Community | 161 Posts
Guys, This is why i would like the link to the realtime tdi- even though the tdi i am using now is supposedly real time, I think otherwise. See below for a late entry cross- the real time would have entered earlier in my opinion. Emmanuel- could you please direct me to the tdi please. Kind regards, Roni {image}
I think in fact that this is the exact TDI indicator which Emmanual also uses (or used). Anyway it's the one I found and use myself.
In fact, as I am writing my reply you may notice that price resumed upwards. In fact the cross on your stochastics would have provided a false signal as you can see now.
TDI would have been right.
First comes knowledge about yourself, then comes a system...
Fenix Capital Mgmt Return This Month:
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- #74,656
- Jan 11, 2017 8:43am Jan 11, 2017 8:43am
- | Joined Oct 2016 | Status: Member of the TMS Community | 161 Posts
{quote} Hi Jan, From what i can see on my chart the stochastic was ok- could you expand? Kind regards, Roni
On my chart, which is taken later you see the stochs have resumed the up move. So on your chart you should also see the cross was undone. Is this not the case?
I must be honest, I do not give Stochastics much attention in my trading. It is just as BigE already suggested, looking only for a confirmation in direction.
So, I hope I was of any help at all here
About the TDI indi, I do believe you have the right one.Best regards,
Jan
First comes knowledge about yourself, then comes a system...
- #74,657
- Jan 11, 2017 8:44am Jan 11, 2017 8:44am
- | Joined Oct 2016 | Status: Member of the TMS Community | 161 Posts
{quote} Talking about money management I always use a couple of scripts to calculate SL and TP based on risk percentage and the money u have available. Maybe u can find them useful {file} {file}
Going to take a look.
First comes knowledge about yourself, then comes a system...
- #74,659
- Jan 11, 2017 9:20am Jan 11, 2017 9:20am
- | Joined Oct 2016 | Status: Member of the TMS Community | 161 Posts
{quote} Talking about money management I always use a couple of scripts to calculate SL and TP based on risk percentage and the money u have available. Maybe u can find them useful {file} {file}
I tried to launch these two scripts but somehow they do not work.
I have tried them in these folders:
scrips
Expert Advisors
Indicators
Nothing happens I'm afraid.
Anyway thank you for your willingness to share
Jan
First comes knowledge about yourself, then comes a system...
- #74,660
- Jan 11, 2017 9:25am Jan 11, 2017 9:25am
- Joined Jul 2012 | Status: Trader | 1,006 Posts
{quote} now gbpres.png;2134849 {image}
