EU AU EY GY UY UCH UCA ECH EG
what others are valid for this method?
Trading Made Simple the right way, and other trading lessons 333 replies
Monitor for 'Trading Made Simple' system 563 replies
Indicators for the 'Trading Made Simple' system 343 replies
MTF Indicators for the 'Trading Made Simple' system 241 replies
Trading Made Simple system follower - Thanks to eelfranz 9 replies
DislikedI use Average True Range which works very effectively with this system.
I trade two standard lots per trade on the 4 Hr chart.
Example: if the ATR on the signal candle is 52 pips.
Stop Loss is 2 x ATR = 104 pips
Profit Target 1 is 2 x ATR = 104 pips (1:1 Risk Reward)
When Profit Target 1 is reached, take off one lot and move stop to break even
Profit Target 2 is 4 x ATR = 208 pips. I move stop in 25 - 30 pip increments while approaching Target 2. This is a free trade as stops are at break even.
Duration of trades as long as 72- 96...Ignored
DislikedIf your mind can not process what you are seeing, or there is too much iniformation, the result is a biological mental lock down - analysis paralysis. Thus, the fear to enter the trade because of uncertainty.
Back testing creates the repetition of . . . What do I see? What does it mean? What do I do?
This repetition will train your brain to instantly recognize the setups and prepare you to take action.
Compiling the statistics will prove the trading plan and system are profitable.
This combination will develop confidence in taking action...Ignored
QuoteDisliked
Similar to driving, or any other skill you can perform with little or no conscious analysis.
DislikedHi all,
I have tried endlessly to get email alerts on TDI cross to no effect. Can someone helpout? Anyone with a TMS-watchdog indi that is tested with email alerts? Mine does not send email.
I work in a financial institution and i can't remain glued to the screen. I want to recieve email alerts when the follwoing occurs:
1. When Green cross red up or down
2. When bounce occur up or down
So anyone got indi that can do this?Ignored
QuoteDislikedNice mm approach.
Do you ever look for "Add On" signals as the trade develops? - typically trading on H4 by dropping down to H1 you will see new fractal breaks occuring giving good "Add On" signals.
DislikedI use Average True Range which works very effectively with this system.
I trade two standard lots per trade on the 4 Hr chart.
Example: if the ATR on the signal candle is 52 pips.
Stop Loss is 2 x ATR = 104 pips
Profit Target 1 is 2 x ATR = 104 pips (1:1 Risk Reward)
When Profit Target 1 is reached, take off one lot and move stop to break even
Profit Target 2 is 4 x ATR = 208 pips. I move stop in 25 - 30 pip increments while approaching Target 2. This is a free trade as stops are at break even.
Duration of trades as long as 72- 96...Ignored
DislikedI never add to an open position.
I use the same stop and profit targets while scalping on 1 Hr charts as I do swing trading the 4 Hr charts. (Using ATR of Signal candle)
It just works. It is a very low anxiety, low maintenance mm system.
The paradox is simply . . . the less time I spend in front of my charts, the more profits I bank.Ignored
Disliked
I just keep it simple dude:
Daily trend up= look for long trades on H4
Dailiy trend down= look for short trades on H4
Maybe I miss out on a couple of pips like that 300 pip upswing on eurchf last week but it keeps me on the safe side...Ignored
QuoteDislikedmay I ask which ATR are you using for? could you post an chart with it please?
Thanks
DislikedSeven: It looks like a trade with possibilities and I've taken it. Are you putting in S/L and T/P numbers? I will have to as I cannot monitor the trade very closely due to work and family considerations. jackIgnored