Looking after TSD

TSD should only be started just after the start of a new day. That way any trades that
are set will be correct. If you start TSD at any other times the Buy/Sell price may be
incorrect. The way I start TSD is to first click on the “man with a hat on” in MT3 or
click on “Enable experts for running” in MT4 to turn of the running of EA’s. Then
set up your screens, attach your EA’s and do whatever else you need/want to do to the
screens. Then wait for a new daily bar to open and click on “man with a hat on” or
“Enable experts for running” and new trades will be set if conditions are right.

I always check TSD at the start of a new day because sometimes new trades are not
entered and existing trades are not modified. First thing, check the journal to see if
there are any error messages.

If a new trade is not set and there is no error in the journal then refresh the screen to
see if that helps. You may have to wait for a few minutes because the collision code in
the EA will slow up the entering of new trades. If the refresh does not work and you
are sure that a new trade should be set, then the only recourse is to enter the trade
manually. Remember the prices are 1 pip above and below the previous days bar and
the TP is 100 pips.

If a pending order is not modified, then check the journal. You may find a message
with “invalid price”. MT3 has a bug that occurs (sometimes) when you try to change
the price, the SL and the TP all at once. It sometimes does not like you to change all
3, but it’s ok to change 2 of them. Intermittent errors are a real pain. The only
recourse is to manually modify the trade and you may have to modify the price and
SL in one go and then modify the TP.

Something else that TSD does not like is to change the period of the screen. It’s
something I do now and again because I forget. TSD is on a daily chart and you
sometimes forget and change it to a 15m chart to check something. This is a no no.
TSD thinks it’s a new day and it may enter a new trade or modify an existing trade all
based on the wrong bar. All you can do is delete any new trade entered or modify any
existing trade that has been stuffed up.

What if the trend is wrong? TSD bases its trades on the weekly trend and it uses the 2
previous bars of the histogram (MACD or OsMA) to do this, it does not use the
current bar (I tried using the current bar in testing but it didn’t work). So later in the
week the trend we are using is not taking into account what happened earlier in the
week. So you may get a situation where you have a pending sell trade but you are
convinced that the trend is now up. This trade will not be deleted from the system
until Monday. If this worries you and you think the trade may get triggered and then
hit support and reverse, then delete the trade if you are live. If you are testing, watch
what happens and learn.

To do some of the things I mentioned above assumes that you have a basic
understanding of how TSD works. If you don’t you cannot manually enter or modify
trades.
I mentioned above how the trend is worked out from the weekly chart. If the weekly
trend is up, then we buy when the Force index is negative or when WPR is less than
-25 on the previous bar. If the weekly trend is down, then we sell when the Force
Index is positive or when WPR is greater than -75 on the previous bar.

For a buy we enter a Buy Stop 1 pip above the high of the previous day and a SL 1
pip below the low of the previous day. For a sell we enter a Sell Stop 1 pip below the
low of the previous day and a SL 1 pip above the high of the previous day. TP is 100
pips. If the current price (Ask or Bid) is too close to the high or low of the previous
day then the order will fail. So we need to add some extra pips onto our buy/sell price
to get the order thru. In the EA I add 16 pips to make sure the order will work on all
currencies with all brokers. If you are entering or modifying the order manually then
you can use a much lower value. Try a very low value eg. 3 or 4 and if that fails keep
increasing it until the order gets thru. So to recap for a Buy Stop - place the Buy Stop
at current price (Ask) + 16 pips or less. For a Sell Stop – place a Sell Stop at current
price (Bid) – 16 pips or less.

Of course all of the above assumes that you have the MACD or OsMA indicator on
your weekly chart and the Force Index or Williams %R (WPR) on your daily screen.
And that you have a smiley face on all your charts. 