TMS Momentum Trading | Foreign Exchange EA Download - MT4/MT5 Resources
Hello everyone,
I didn't want to hijack the original TMS thread with my variant, so I decided to create a new thread.
I'd like to thank all members of the original thread for their work and time.
So what's going on?
This will be more than just a strategic clue. This will be my complete business plan, trading journal, and trading journal.
Introduction
I am a 37 year old engineer. The first time I came into contact with trading was 17-18 years ago, when I was still in school, just before the big crash. At that time, I was lucky to get away with a small loss.
I started getting involved in Forex trading in 2012. Since then I have read many books and many posts about FF. Basically I'm a fan of Dow Theory and I've also been attracted to the TMS thread from the first time I read it.
Even though I put in a lot of time learning to trade, I still wasn't able to become a consistent winner. I had a lot of big winners (R - multiple of initial risk) and then I gave up on them again and again. Many times I also failed to lock in a profit, only to see the market take it away, ultimately knocking out my stop loss.
For humans (more for some and less for some), making rules and following them is a difficult thing. So the other thing is to get my mindset right to follow the rules because the psychological component in trading is the most important.
That's why I created this thread, make a plan and stick to it.
Discussion is welcome as I'm sure I can't see all the weaknesses in my approach.
I didn't want to hijack the original TMS thread with my variant, so I decided to create a new thread.
I'd like to thank all members of the original thread for their work and time.
So what's going on?
This will be more than just a strategic clue. This will be my complete business plan, trading journal, and trading journal.
Introduction
I am a 37 year old engineer. The first time I came into contact with trading was 17-18 years ago, when I was still in school, just before the big crash. At that time, I was lucky to get away with a small loss.
I started getting involved in Forex trading in 2012. Since then I have read many books and many posts about FF. Basically I'm a fan of Dow Theory and I've also been attracted to the TMS thread from the first time I read it.
Even though I put in a lot of time learning to trade, I still wasn't able to become a consistent winner. I had a lot of big winners (R - multiple of initial risk) and then I gave up on them again and again. Many times I also failed to lock in a profit, only to see the market take it away, ultimately knocking out my stop loss.
For humans (more for some and less for some), making rules and following them is a difficult thing. So the other thing is to get my mindset right to follow the rules because the psychological component in trading is the most important.
That's why I created this thread, make a plan and stick to it.
Discussion is welcome as I'm sure I can't see all the weaknesses in my approach.
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