The Epic Guide to Price Action Trading! MUST READ
https://www.theforexguy.com/price-ac...lestickBenefit
https://www.theforexguy.com/price-ac...lestickBenefit
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- #78,363
- Edited 2:37pm Apr 1, 2017 2:04pm | Edited 2:37pm
- Joined Nov 2015 | Status: Member's sanity currently on AWOL | 8,930 Posts
{quote} Thanks Tekkies Please clarify some of your point i am not able to understand. Day trading "Look at the chart. Got 14 trade's. Got 7 loses. Would those loses have been losing when contoled from H1, H4." What is contoled from H1 and H4? Want to be conservative in trading -angle of green Restrict entry's to below 5 and above 1. What is this 5/1 please show one example - level buy between 35 / 45. sell between 55 / 65 IS this level of green line in TDI window? Thanks MK
Manage the trade from H1 / H4. The trend might just be a short revise before going back in the overall direction that D1 had before. Look at the TDI / Price Action will put your mind at ease that the trend will turn.
Restrict entry's to below 5 and above 1
Angle's are between 12 / 2 and 4 / 6. Increase the angle from 12 / 1, decrease the angle to 5 / 6.
(post# 270, 643, 701, 772, 1073)
buy between 35 / 45. sell between 55 / 65
Oversold level's are 69 and 32 in TDI. Place buy trade's from level 35 to level 45. Sell trade's from 65 to 55.
(TDI Cross.pdf for more info)
Now apply those post's to the ring's.
Get all the information from the chart you trade from. You have to practise over and over.
Entry a sell on D1 at the ring's. Why would you want to do that? When the odd's are stacked against a sell trade
- See how close is the cross to level 68 / 32
- Zoom out the overall trend direction is up
- check angle
- S/R
- candle size
- Wick's long
post#647 are more then just a few rule's. Need to understand each rule. Need to understand Price Action.
See how post#647 is applied. (Not the best, for it give just a general idea.)
Look at the candle's and wick's
That is way BigE said to study old chart's that lead to profitable trade's. The more you study old chart's the better your brain will remember winning setup's and the simpler the descion will become to entry.
- #78,364
- Apr 1, 2017 2:16pm Apr 1, 2017 2:16pm
- Joined Nov 2015 | Status: Member's sanity currently on AWOL | 8,930 Posts
The Epic Guide to Price Action Trading! MUST READ https://www.theforexguy.com/price-ac...lestickBenefit
- #78,365
- Apr 1, 2017 2:58pm Apr 1, 2017 2:58pm
- Joined Nov 2015 | Status: Member's sanity currently on AWOL | 8,930 Posts
- #78,369
- Apr 1, 2017 10:46pm Apr 1, 2017 10:46pm
- Joined Nov 2008 | Status: Trader | 50,190 Posts
{quote} .... Look at the PAC conditions. Then I leave you to discover the 3rd pre-condition. Read Big E posts from Jan to Jun 2011 where he has attached charts and trades. I tell you where to look but I wont tell your what to look for.Have fun.
{quote} Dear Emmanuel. Please can you explain this precondition {quote} Thanks
After you have read those posts and taken notes, you will most likely find out the 3rd pre-condition for my back-testing using the PAC as the filter for CONSERVATIVE trade entries.
If you don't find your answer, the ask me again.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #78,370
- Apr 1, 2017 10:51pm Apr 1, 2017 10:51pm
- Joined Nov 2008 | Status: Trader | 50,190 Posts
A Guide to Correctly Drawing Support and Resistance Levels Accurately https://www.theforexguy.com/how-to-d...nd-resistance/
Good trading stuff ...
Have been reading his blogs for sometime and they are useful to build up basic knowledge.
Thanks cchua888.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #78,371
- Apr 2, 2017 12:18am Apr 2, 2017 12:18am
- Joined Sep 2015 | Status: ob-la-di, ob-la-da, life goes on... | 4,499 Posts
Since Frank Sinatra sings in his own way, my chart sing... I did it, my way
- #78,372
- Apr 2, 2017 12:45am Apr 2, 2017 12:45am
- Joined Nov 2008 | Status: Trader | 50,190 Posts
...hayzzz, I still can't master this TMS Method strictly to the rules as I can't help it, I still need to add extra indicators or use my modified version. I think this is because I am able to code MQL4 now unlike before...
I had this problem like you and I was trying to find the secrets of traders who posted mostly winning trades in FF especially in all TMS threads.
That took away a lot of my time but I learn plenty as results of my pursuit of the TMS 'holy grail'. The conclusion after 5 years is there is no TMS 'holy grail' to a winning system. I zoomed into every trade details of those charts showing winning trades and I discovered a lot of traders' secrets which has nothing to do with real live market trading.
My turnaround was in March 2011 in that same week of the Japan tsunami March 11. I lost money in the Asian stock markets that week as I had to cut all my positions when the markets closed that day. That is the two weeks that I realised that Peak Performance is most important to survive trading the markets and make money. Since then, my primary focus has been and still is in the development and maintaining my mental fitness to remain a trader in the markets.
This book will explain many things why traders fail to make money in long term.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #78,373
- Apr 2, 2017 12:50am Apr 2, 2017 12:50am
- Joined Sep 2015 | Status: ob-la-di, ob-la-da, life goes on... | 4,499 Posts
Since Frank Sinatra sings in his own way, my chart sing... I did it, my way
- #78,375
- Apr 2, 2017 2:45am Apr 2, 2017 2:45am
- Joined Nov 2008 | Status: Trader | 50,190 Posts
{quote} Dear Emmanuel, at the Moment Im 3 MEME positions short and will stay one more day, because I think it works out like the two last times (see Chart). Best regards from munich. {image}
Hi zMinga,
Thanks for sharing your trades.
You have made a decision to stay one more day and you have your Stop Loss to protect your trading capital. That is a safe way to trade with stop loss and using position sizing.
I have also 3 open positions and with average entry price at 1.2492. I planned to stay the next 15 trading days trading this pair. If I get stopped out, I will do re-entry.
We wait till NY open and see what the price will be like. See if there will be weekend price gap then make the next decision. Also next week Wednesday is FOMC and Friday is NFP, so we be prepared for some volatility.
My comments on your charts posted and also my big picture view on D1. Market has been ranging sideways as seen on the MN chart. We trade within this ranging market type of 260 to 320 pips.
Trade Well,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #78,376
- Apr 2, 2017 3:03am Apr 2, 2017 3:03am
- Joined Nov 2008 | Status: Trader | 50,190 Posts
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #78,377
- Apr 2, 2017 3:08am Apr 2, 2017 3:08am
- Joined Nov 2008 | Status: Trader | 50,190 Posts
{quote} I think you won't get into that trade cause not enough space to the upside/trouble from the last 20-25 candles before
Hi Deichkind,
See my BPP charts below:
MN
W1
D1
On the D1, we will see the swing high and swing low in the MN sideways ranging market type.
The weekly swing range is between 260 pip to 320 pips. Trying to catch the top and bottom will be fruitless exercise for most traders.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #78,378
- Apr 2, 2017 3:15am Apr 2, 2017 3:15am
- Joined Nov 2008 | Status: Trader | 50,190 Posts
If anyone tried to catch the swing high last week and had use %Risk and Position Sizing,
you have the option to cut loss with a smaller loss less that your initial R.
i know some traders will follow their 'set-and-forget' rule and let the trade run as it it now.
But if I look at the price action and that higher high-higher low structure of the last 3 day bars, it maybe better to cut-loss at 0.75R loss and then look for the next setup to enter again. Your system Expectancy is important so is your Win/Loss ratio.
you have the option to cut loss with a smaller loss less that your initial R.
i know some traders will follow their 'set-and-forget' rule and let the trade run as it it now.
But if I look at the price action and that higher high-higher low structure of the last 3 day bars, it maybe better to cut-loss at 0.75R loss and then look for the next setup to enter again. Your system Expectancy is important so is your Win/Loss ratio.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
