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Trading Made Simple for Day Charts

Quoting Britpip7
This chart covers 100 candles / days.

Using the hindsight forex trading methodology, I have selected 16 entries.

Placing two trades per entry position, each rectangle entry would have generated over 100pips - the ellipse entries were closer to break even.

Each vertical line is a possible entry point. Each entry point was picked using candlesticks on the main chart - without using the TDI - I added the TDI back in afterwards and the correlation is pretty strong - couple of marginals, but the lessons learned here, is that Price Action gives you...
Hey Britpips,

On your signals with the vertical lines are you entries on the open candle of the vertical line or the next candle after so the bar formation is complete. I think this is one the problems I have been having when following the method.

thanks
Attached Image (click to enlarge)
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Quoting hale-mary
Hey Britpips,

On your signals with the vertical lines are you entries on the open candle of the vertical line or the next candle after so the bar formation is complete. I think this is one the problems I have been having when following the method.

thanks

same question, I have the same problem to understand training charts
Quoting shane s
Attachment 866044
This looks to be X-Man's format with the Sonic indicator.

Not sure what your post is intending - no message with the chart and definitely no entry position with the last candle.

I am not using the Sonic and do not want this thread to add a whole bunch of indicators.
Quoting hale-mary
Hey Britpips,

On your signals with the vertical lines are you entries on the open candle of the vertical line or the next candle after so the bar formation is complete. I think this is one the problems I have been having when following the method.

thanks
From the training chart. the set up candle is the one before the vertical line.

The entry point is the H/L from the signal candle with the entry being on the vertical line.

I set my entry point from the H/L which means the top or the bottom of the wick of the candlestick
Quoting Britpip7
My current commitments do not allow me to trade lower timeframes and I have moved to the Day Charts. My Broker is IBFX and my new day candle starts at 4pm PST. .
plz what about those whose brokers server/plartfrm are on a different time zone..does it really matter...as in..is the system favorable to a specific brokers timing
Quoting sharemaster2
This is the point I was making Britpips, just keep up with that and leave all the questions. Only address questions that you think are important, let other contributors answer some of the questions. This will free you up to look for set up and analyse them for your screen shorts which is more important.

Sorry folks, this may seem harsh and rude but this is the only way Britpips can focuss on his objective here, which is to teach us all how to trade this strategy.

Newbies are welcomed but try to read up first before asking questions and other...
yes, i totally agree with what you say , if we think of britpip as the ceo , well the ceo doesnt usually have to go teach the cleaners how to mop floors !!
having said that i am fairly new to all this and hope i may be forgiven for a dumb question ocasionally ,but as you rightly say there are many others here with the expertise and goodheartedness to answer, leaving the ceo to concentrate on the more important matters .
i think this is a great thread , thanks britpip and happy new year to all
rob
Quoting angelo5uk
plz what about those whose brokers server/plartfrm are on a different time zone..does it really matter...as in..is the system favorable to a specific brokers timing
Not in my opinion - I used to be with MB Trading and their day started 4 hours later.

The experts in MT4 can advise on changing times, etc. for candle starts.
Quoting angelo5uk
plz what about those whose brokers server/plartfrm are on a different time zone..does it really matter...as in..is the system favorable to a specific brokers timing
In my opinion, no matter which system you use, the broker's server times doesn't matter in the long run. The only difference due to timing will be of TDI crosses will be a bit early or late. For example, if trend continues one broker feed will show a TDI cross say on Monday whereas the other broker will show the same cross on Tuesday and this timing difference situation will flip vice versa on the next setup.

Hope this helps
Forex is boring but profitable with patience and discipline :waiting:
Quoting Britpip7
This chart covers 100 candles / days.

Using the hindsight forex trading methodology, I have selected 16 entries.

Placing two trades per entry position, each rectangle entry would have generated over 100pips - the ellipse entries were closer to break even.

Each vertical line is a possible entry point. Each entry point was picked using candlesticks on the main chart - without using the TDI - I added the TDI back in afterwards and the correlation is pretty strong - couple of marginals, but the lessons learned here, is that Price Action gives...
i looked only at candles ,not used cheat sheet , just trying to remember candle patterns .not looked at tdi cross or bounce .please anyone comment , i am trying to learn .
rectangle no.1 i see 3 white soldiers
2 '''''''''''bullish engulfing
3 '''''''''' '' '' and maybe 3 inside up
4 '' 3 inside up (+ 1 tiny candle)
5 '' pull back bar previous to entry bar (also see negative divergence from tdi --look to go short soon )
please am i on the right track here ?
rob
Quoting robuk
i looked only at candles ,not used cheat sheet , just trying to remember candle patterns .not looked at tdi cross or bounce .please anyone comment , i am trying to learn .
rectangle no.1 i see 3 white soldiers
2 '''''''''''bullish engulfing
3 '''''''''' '' '' and maybe 3 inside up
4 '' 3 inside up (+ 1 tiny candle)
5 '' pull back bar previous to entry bar (also see negative divergence from tdi --look to go short soon )
please...
With regards to candle patterns, I think we can all learn from you. The challenge is to identify the entry points within the candle patterns.

You appear to be in the right track - understand the Price Action and support with indicators if needed.
Quoting Britpip7
With regards to candle patterns, I think we can all learn from you. The challenge is to identify the entry points within the candle patterns.

You appear to be in the right track - understand the Price Action and support with indicators if needed.
thank you very much , yes i would mostly rely on tdi at the moment for entry , but as you said to learn candle patterns too would help.
also, as we need bigger sl on daily , can anyone suggest what size a/c would be practical, i think trade at 1 gbp per pip to start , thats the smallest i can do on spreadbet a/c ,
or maybe forex broker can give me smaller size , i think ., but i read so many horror stories about some ff brokers - but then again i guess spreadbet co's are no angels .
Britpip7, nice thread -- just read it end to end.

Digf, try checking the build of your MT4 platform. Help/About from the upper platform pull downs. I am using Build 409 and have no problem loading the indi. If you are using a build older than the compilation build of the indi (and we do not know what that build number is), you may not be able to load the indi -- it will not move to the experts/indicators/compatibility_files directory at load time. If you are using a build older than Build 409, go to you Brokers download site and update your MT4 platform. I think that will solve your problem. You can try moving the indi to the experts/indicators/compatibility_files directory yourself. It might load then. But better and safer to install the latest build.

Quoting Britpip7
No advice other than closing MT4 and re-opening or deleting the indicator, re-installing, etc.

MT4 experts feel free to jump in here.

If nothing else helps, try a pm to Xaphod
Could someone please explain how the settings of the EMA's are determined, is this based on TF or is this only trial and error. I am confused on how one determines the settings because i have seen so many different settings on this.
I was watching videos from someone who trades only the daily charts and PA, he uses complete different settings for the 2 ema's he is using.
Would be appreciated if someone could lighten me up on this.
Quoting EasyRyder
Britpip7, nice thread -- just read it end to end.

Digf, try checking the build of your MT4 platform. Help/About from the upper platform pull downs. I am using Build 409 and have no problem loading the indi. If you are using a build older than the compilation build of the indi (and we do not know what that build number is), you may not be able to load the indi -- it will not move to the experts/indicators/compatibility_files directory at load time. If you are using a build older than Build 409, go to you Brokers download site and update your...
Britpip7 and EasyRyder

Thanks for your efforts of help but I still can't load it. I was initially quite pleased when I saw that my MT4 platform version was 402 so I downloaded the 409 build expecting it to load the indi and work ok but it is still the same.
It is listed in Custom Indicators but when I double click or try to drag it onto my chart it just isn't there.
I have tried loading it onto a second MT4 platform with a different broker but its just the same.
I am going to take your advice and try a pm to Xaphod.

Edit Ignore the above, I have just downloaded the file again but this time from Britpip7's link on post #1 and it is now working on both MT4 platforms.

Thanks again to both of you although I feel a bit guilty taking your time with questions of this nature. I think that in future if I do get any problems of a similar nature I will post them on the Tech Forum so this thread deals only with the strategy
Quoting digf
Britpip7 and EasyRyder

Thanks for your efforts of help but I still can't load it. I was initially quite pleased when I saw that my MT4 platform version was 402 so I downloaded the 409 build expecting it to load the indi and work ok but it is still the same.
It is listed in Custom Indicators but when I double click or try to drag it onto my chart it just isn't there.
I have tried loading it onto a second MT4 platform with a different broker but its just the same.
I am going to take your advice and try a pm to Xaphod.

[color=darkred]Edit Ignore...
Hi there,

Not usre but try this on the Picture and see if it helps. Both are the same but in differen formats.
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Quoting digf
Britpip7 and EasyRyder

Thanks for your efforts of help but I still can't load it. I was initially quite pleased when I saw that my MT4 platform version was 402 so I downloaded the 409 build expecting it to load the indi and work ok but it is still the same.
It is listed in Custom Indicators but when I double click or try to drag it onto my chart it just isn't there.
I have tried loading it onto a second MT4 platform with a different broker but its just the same.
I am going to take your advice and try a pm to Xaphod.

[color=darkred]Edit Ignore...

one more
Attached Image (click to enlarge)
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Thanks sharemaster2 but it is working ok now
Quoting Britpip7
Following on from the outstanding success of Eelfranz - Big E's Trading Made Simple forum, and X-Man's Super Simple System - several traders have requested a new thread be set up for TMS trading with Day Charts only.

Here it is. I will post some general rules as I see them for the day charts, but this is a TMS for Day Charts thread. I'll check in from time to time and post training charts and trade summaries from time to time and I will nuke non-compliant posts (my privilege – I started the thread ). I will also add any new insights...
Hi Britpip,

Just to compliment your thread, will it not be a good idea to set up a Skype group for members to have reall time discussion of trade set ups.

It is just an idea I think will also help.

What do you all think of it, if the idea is good then Britpip can set one up with a good name for it or I can do that. Either way, lest discuss this and see what peopele think first.

Just my two cents worth as always.
Quoting sharemaster2
Hi Britpip,

Just to compliment your thread, will it not be a good idea to set up a Skype group for members to have reall time discussion of trade set ups.

It is just an idea I think will also help.

What do you all think of it, if the idea is good then Britpip can set one up with a good name for it or I can do that. Either way, lest discuss this and see what peopele think first.

Just my two cents worth as always.
I think this was tried by X-Man with the original TMS thread but did not last very long, not enough participation i suppose, shortly afterwards he started his own thread with his version of TMS which is a big success.
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