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  • #75,761
  • Feb 9, 2017 10:12pm Feb 9, 2017 10:12pm
Quoting emmanuel7788
For those of you trading the D1 chart and using multiple entries / multiple exits ME/ME , please post you AUDUSD and EURUSD charts. Explain what you see - where the trend started and what is the market condition today. You want to learn and trade with ME/ME, you need to do this work.
Hi Emmanuel,


On EURUSD, I have lots of MN swing lines, which probably is the reason (apart from Trump) for PA to have long wicks, both on W1 and D1, with not much clear direction.

Yesterday, we had an inside bar and we may see breakout to the downside, but the risk is we have a resistance turn support very close at 1.0625 followed by BRN 1.06 which PA seemed to respect quite few times.

I wouldnt initiate any D1 trade on this pair today.

BTW, may I have question on support and resistance. I read many times somewhere that the more resistance gets tested the more likely it becomes to be broken (same with support). What is your view on this? You seem to give more weigh on resistance turn support.

Thank you,

Okoso
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDDaily10.02.17.png Size: 45 KB
  • #75,762
  • Feb 9, 2017 10:20pm Feb 9, 2017 10:20pm
[Hi Okoso, you are getting very close to know what I know....

  • #75,763
  • Feb 9, 2017 11:20pm Feb 9, 2017 11:20pm
Okoso, the blue and green flashes on your upper right side of you screen are the 5 ema on those time frame?
Could you share the file?
Thanks and best wishes
  • #75,764
  • Feb 9, 2017 11:43pm Feb 9, 2017 11:43pm
Quoting blueman
Okoso, the blue and green flashes on your upper right side of you screen are the 5 ema on those time frame? Could you share the file? Thanks and best wishes
Hi Blueman,

This indi is called 10EMA dashboard. It shows relationship between price and its 10 EMA in different time frame. Very shortly, people here use 10EMA as trade direction. For instance, if price is above 10EMA it is better to go long.

Cheers,
Attached File(s)
File Type: ex4 TMS 10EMA Dashboard.ex4   10 KB | 377 downloads
  • #75,765
  • Feb 10, 2017 12:05am Feb 10, 2017 12:05am
Quoting okoso
{quote} Hi Emmanuel, On EURUSD, I have lots of MN swing lines, which probably is the reason (apart from Trump) for PA to have long wicks, both on W1 and D1, with not much clear direction. Yesterday, we had an inside bar and we may see breakout to the downside, but the risk is we have a resistance turn support very close at 1.0625 followed by BRN 1.06 which PA seemed to respect quite few times. I wouldnt initiate any D1 trade on this pair today. BTW, may I have question on support and resistance. I read many times somewhere that the more resistance...
traders have different beliefs about support and resistance.
some believe when s/r get tested several times, the s/r will be broken. not always true.
my belief when support tested, then broken will change to become resistance. also not always true.
these are all beliefs which influence our trading decisions.
my belief is that trading systems build upon the 5-Method has its own set of underlying beliefs. the use of suppprt and resistance is one among several beliefs.

it should be a good exercise for TMS traders start write down what their beliefs are in the 5-Method as their trading system.
I have my own beliefs written down year ago when I did the system development using the 5-Method as the core technical trading metholody.

Below is an extract of an article I received in my email last week. Some parts are deleted due to its commercial content.
<quote>
Every trading system rests on a set of beliefs — whether the trader and/or system developer realizes this or not.

You gain your first edge by simply being aware of the underlying beliefs of a trading system. A great system has many useful beliefs about the market and price behavior that create an edge — it also creates positive expectancy.

As an example, trading against the crowd in certain circumstances can be an edge. Applying those beliefs about why that works by developing a trading system that generates a positive expectancy is an edge — the advantages your system has in the market. You want to find and develop an edge (or several) for each of your trading systems.

I have developed all of my Forex trading systems aligned with (deleted) .. principles. Why? I have simply found that what (deleted) teaches works very well in the markets.

I have worked hard over the years developing three forex trading systems that not only take these principles into account but are robust, profitable, trading systems.
All three systems are trend-based.

The systems can be traded in various time-frames and can be traded across a wide range of currency pairs.

The systems can be used for swing trading using primarily 5-min ,15-min, 60-min, 240-min and Daily candle charts. The trades usually tend to evolve over a time-frame of anywhere from several hours to a couple of days (or even weeks, in the case of strong trends).

Each trend-following system is based on similar “ingredients,” but each has a different recipe to capture a different part of the trend. So, each systems is complementary to each other and together offer several trading setups nearly every day of the year.

<end>
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #75,766
  • Feb 10, 2017 12:07am Feb 10, 2017 12:07am
Quoting emmanuel7788
{quote} we all learn from others, but we fail to teach ourselves.
There is Russian proverb.

"Genius learns from his mistakes. A clever learns from others mistakes. But a fool doesn't learn.. "
There is no reason to trade if there is no reason to trade.
  • #75,767
  • Feb 10, 2017 12:15am Feb 10, 2017 12:15am
Quoting okoso
{quote} Hi Emmanuel, On EURUSD, I have lots of MN swing lines, which probably is the reason (apart from Trump) for PA to have long wicks, both on W1 and D1, with not much clear direction. Yesterday, we had an inside bar and we may see breakout to the downside, but the risk is we have a resistance turn support very close at 1.0625 followed by BRN 1.06 which PA seemed to respect quite few times. I wouldnt initiate any D1 trade on this pair today. BTW, may I have question on support and resistance. I read many times somewhere that the more resistance...
when I look at MN and W1, I believe that D1 support 1.0633 will be broken quite easily when there are more sellers.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #75,768
  • Feb 10, 2017 12:20am Feb 10, 2017 12:20am
Attached Image (click to enlarge)
Click to Enlarge Name: audjpy-h4-oanda-division4.png Size: 146 KB


Really?? It is highly likely gonna fuck up but it looks like a reversal is on the way even before the cross
  • #75,769
  • Feb 10, 2017 12:24am Feb 10, 2017 12:24am
Quoting emmanuel7788
{quote} any trend indicator based on the price bar will always show nice on the charts. if youy can shoft that MA by say, 2 bars, that will look a lot better. you can also use the MACD and replicate the TDI. TDI vs MACD2-13-7.png;2181649 {image}
this is really interesting
  • #75,770
  • Feb 10, 2017 12:29am Feb 10, 2017 12:29am
Quoting ftwforex
audjpy-h4-oanda-division4.png;2181977 Really?? It is highly likely gonna fuck up but it looks like a reversal is on the way even before the cross {image}

I want to see at least one D1 sellers candle at BRN 87.00 before I start to think of selling.
Selling now is selling high, then what happens next, sell more at higher price?
where to place initial stop loss and calculate trade position size?
how much margin do I want to float in this pair before I decide to cut loss?
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #75,771
  • Feb 10, 2017 12:31am Feb 10, 2017 12:31am
Thanks Okoso, happy day
  • #75,772
  • Feb 10, 2017 12:31am Feb 10, 2017 12:31am
Quoting ftwforex
audjpy-h4-oanda-division4.png;2181977 Really?? It is highly likely gonna fuck up but it looks like a reversal is on the way even before the cross {image}
the important thing is that you will need to wait and get a confirmation that it will reverse.
Or risk it and sell there at what looks like the top
  • #75,773
  • Feb 10, 2017 12:35am Feb 10, 2017 12:35am
Quoting emmanuel7788
{quote} I want to see at least one D1 sellers candle at BRN 87.00 before I start to think of selling. Selling now is selling high, then what happens next, sell more at higher price? where to place initial stop loss and calculate trade position size? how much margin do I want to float in this pair before I decide to cut loss?
I know I know there is a ton of rational reasons and considerations why not to enter a short but it just looked way too easy
Any hows picking tops sounds way better that picking buttoms..
  • #75,774
  • Feb 10, 2017 12:41am Feb 10, 2017 12:41am
Quoting ftwforex
{quote} I know I know there is a ton of rational reasons and considerations why not to enter a short but it just looked way too easy Any hows picking tops sounds way better that picking buttoms..

well, another way is to sell at pivot R38.....
the previous 2 reversals was at pivot R100, and R38.

we can also pick bottoms when price is at S38, S61 and S100.

Attached Image (click to enlarge)
Click to Enlarge Name: AJ BRN vs Pivots.png Size: 85 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #75,775
  • Feb 10, 2017 12:53am Feb 10, 2017 12:53am
I think my plan on this one is to sell nowish.. TP 86ish and picking bottoms around 85.5

So anybody who wants to make a quick pip or two do the opposite
  • #75,776
  • Feb 10, 2017 12:55am Feb 10, 2017 12:55am
Quoting Sesamstrasse
{quote} Yes, agree . Why should non registrered people get the benefits from our work . (X) Member's Lounge ( ) Interactive Trading ( ) Trading Discussion By the way -- heres one of my rade D1 TMS trades.. With empty space. After a hit of the 1.06, Ill set it to BE , becaus ei marked a weekly resisnance . Stay tuned Guido {image}

Hi Guido,

Good point for me to consider.

I need to sort out a few more things about the Members' Lounge. I am not sure if FF has a members only private group like another forum I was in.

Soon we will move our Trading Made Simple - Live Trading Room sharing and discussions to the Members' Lounge.

So for the many who are reading and have not signed up at Forex Factory, you can sign up quickly.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #75,777
  • Feb 10, 2017 12:57am Feb 10, 2017 12:57am
Quoting ftwforex
I think my plan on this one is to sell nowish.. TP 86ish and picking bottoms around 85.5 So anybody who wants to make a quick pip or two do the opposite

For TMS 5-method traders,

too late to buy,
too early to sell,

look for another pair.
preserve your trading capital is your top priority.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #75,778
  • Feb 10, 2017 1:07am Feb 10, 2017 1:07am
Quoting emmanuel7788
{quote} For TMS 5-method traders, too late to buy, too early to sell, look for another pair. preserve your trading capital is your top priority.
Sorry - that should have been in a group called predictive TMS
I think you starting your own thread is a super idea. And thanks for sharing.
IMHO it should be in Interactive trading - since that is what you the describe the thread to cover.
The more the merrier and there is nothing wrong with having people in having not done the "hard work"
  • #75,779
  • Feb 10, 2017 1:08am Feb 10, 2017 1:08am
This will be my entrys tell me if im wrong?
Attached Image(s) (click to enlarge)
Click to Enlarge Name: cadjpy-h1-admiral-markets (1).png Size: 45 KB
Click to Enlarge Name: gbpjpy-h1-admiral-markets.png Size: 45 KB
Click to Enlarge Name: usdjpy-h1-admiral-markets-3.png Size: 47 KB
  • #75,780
  • Feb 10, 2017 1:13am Feb 10, 2017 1:13am
I think I would (I will) enter at 86.5. TP same same - But please keep in mind that I suck at this
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