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Trading Made Simple 151,873 replies

Trading Made Simple the right way, and other trading lessons 334 replies

Indicators for the 'Trading Made Simple' system 343 replies

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Trading Made Simple(r)

  • #3,061
  • Aug 15, 2019 5:19pm Aug 15, 2019 5:19pm
Blueprint for Trading Success

lots of materials available on the internet

here is just one of the many ...

just for some basic ideas to pick and work on.

Inserted Video
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #3,062
  • Aug 15, 2019 7:22pm Aug 15, 2019 7:22pm
Quoting SwingMan
New "smCorrelation MultiPairs_v2" indicator I changed a bit the Correlation Indicator because the first version was 9 years old and here I post an updated version. Current correlations and certain groups can be easily identified, and avoid to trade correlated pairs and cumulate losses. {image} {image} {image} {file} {image}

WOW Swingman thanks so much for this great indicator much appreciated. i was racking my brain trying to figure out this correlation stuff.
  • #3,063
  • Aug 15, 2019 8:11pm Aug 15, 2019 8:11pm
Quoting SwingMan
{quote} I do not trade, but in the analysis of your entrys I see that the chart and oscillator signals are ok. What is missing is the avoidance of sideways trends, and here in thread many experienced traders have made recommendations! You can also just use the ADX(20,20), and I've posted as help the DoubleHMA indicator (#Post 2761). You can see that the first three trades should not be done because ADX was under 20 or/and against the trend of the HMA(120). The period 120 for HMA for the timeframe H4 corresponds to the weekly trend, and W1 is for...
Hi, SwingMan, where yellow line that you mean to exit sell order ?
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  • #3,064
  • Aug 15, 2019 8:25pm Aug 15, 2019 8:25pm
Quoting SwingMan
New "smCorrelation MultiPairs_v2" indicator I changed a bit the Correlation Indicator because the first version was 9 years old and here I post an updated version. Current correlations and certain groups can be easily identified, and avoid to trade correlated pairs and cumulate losses. {image} {image} {image} {file} {image}
Hi SwingMan, could you explain how to use this indicator?
For example if i sell or buy AUDJPY, I should not to trade AUDCAD in D1 because the number is red, but I can trade AUDCAD in H4 because the number is green?
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  • #3,065
  • Edited 4:34am Aug 16, 2019 12:22am | Edited 4:34am
AU W1 down, D1 consolidating, H4 continuation up... skip
AJ W1 down, D1 consolidating (triangle), H4 continuation up... skip
AC W1 down, D1 retracing up, HH(+), HC(+), H4 continuation up... still early bird, but better..
(AC has a correlation of 82 n 85 with AU n AJ... maybe the wise decision is not to trade AC? lol.. forex is random.. so let's try..)
GF W1 down, D1 retacing up, HH(+), HC(+), H4 continuation up... early bird too, and not trading CHF pairs..

Edit: early bird...lol...AC lost... but GF which is not being traded is in the right direction.... lol...

Quoting SwingMan
New "smCorrelation MultiPairs_v2" indicator I changed a bit the Correlation Indicator....
SwingMan, thx again for the indicator... i would not have realized that EG n AC has D1 correlation of -90 (even though H4 does not, i wonder what would happen though.. interesting)... lol.. n i am in short EG since yesterday... if i were to check mataf correlation, i would not have checked the correlation of AC n EG.. lol
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  • #3,066
  • Aug 16, 2019 12:24am Aug 16, 2019 12:24am
Quoting NguyenTan
...if i sell or buy AUDJPY, I should not to trade AUDCAD in D1 because the number is red, but I can trade AUDCAD in H4 because the number is green?
- Everyone has to interpret the corelations personally. Here are just two timeframes, but you can still consider H1 and W1. Maybe all timeframes should not have a correlation above 70!

Because most of the losses are just after the entry at an unexpected trend reversal, I would definitely consider H4.

- I do not want to post system rules here. My comments should minimize losses, and an exit on the first cross with the yellow line would be an alternative.
Generally one will trade with 1R SL and 1-2-3R TPs.
  • #3,067
  • Aug 16, 2019 12:28am Aug 16, 2019 12:28am
Quoting NguyenTan
{quote} Hi SwingMan, could you explain how to use this indicator? For example if i sell or buy AUDJPY, I should not to trade AUDCAD in D1 because the number is red, but I can trade AUDCAD in H4 because the number is green? {image}
Hi, do you understand about correlation between currency pairs? If not, please google in babypips.com and mataf correlation tool.. they roughly provide information to understand how to use the indicator.. wikipedia (it is not the best source, but at least useful to skim through) even has a page on the calculation behind the indicator.. also do read the previous posts.. eg post 3043 (lower part)..
  • #3,068
  • Aug 16, 2019 2:33am Aug 16, 2019 2:33am
Quoting emmanuel7788
{quote} Hi forexdg It is too easy for me to comment using hindsight analysis. First of all, this is a 100% rules based mechanical trading method based on 7 indicators. When all the technical conditions (Post#1) are fulfilled there is a trade setup condition. If we take every trade setup, we will end up with many wins and many losses. Only after a long cycle of thousands of trades then we will learn many things from all the wins and losses. Every trade is unique on its own, hence every trade with its outcome is a lesson for us as the trader. This...
Hi Emm, A picture says a thousand words. I am still examining your EUR/USD trades and can see that you spotted the consolidation very well. Its probably where we are going wrong. We are being mechanical and taking all signals whereas the proper traders seem to have an instinct to pass the trade. I also like the RSI with arrows if you can post it please. Plus a couple more pics would be nice.
Keep up the good work.
  • #3,069
  • Aug 16, 2019 7:09am Aug 16, 2019 7:09am
Trades Update:

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Always a Student, Never a Master - Emulate What Works
  • #3,070
  • Aug 16, 2019 7:14am Aug 16, 2019 7:14am
Quoting RobinHood
Trades Update: {image}
Wow. Is that not proof the system works.
  • #3,071
  • Aug 16, 2019 7:17am Aug 16, 2019 7:17am
Quoting 40PipsAlan
{quote} Wow. Is that not proof the system works.
Not for some people. They need at least 6 months of live trade results. Otherwise, it can't be anything other than luck and/or smoke and mirrors.

(This EUR weakness that is fueling a lot of those pips is showing initial signs of ending. Let's see if it can follow through.)
To free Gazans of Hamas, use whatever it takes.
  • #3,072
  • Edited 8:16am Aug 16, 2019 8:05am | Edited 8:16am
Quoting DrDave
{quote} Not for some people. They need at least 6 months of live trade results. Otherwise, it can't be anything other than luck and/or smoke and mirrors. (This EUR weakness that is fueling a lot of those pips is showing initial signs of ending. Let's see if it can follow through.)
Yeah, don't believe your lying eyes.

You should go start your own thread and teach us all how to make 10 pips a day.

======

OH, and from Post # 1...

And Lastly...

If you are blatantly rude, obnoxious, insulting, or try to dissuade others in the thread with false information, you will be placed on IGNORE without warning (which means that you will no longer ever be able to post in the thread). No one wants those disruptions. We are here to help each other by teaching, learning, or both and so we need a nice, cordial environment that EVERYONE feels welcome in.
Always a Student, Never a Master - Emulate What Works
  • #3,073
  • Aug 16, 2019 8:36am Aug 16, 2019 8:36am
My trade report for the week. I'm on a 1 week holiday, so took less trades, and unfortunately couldn't monitor them like I should.
Also, I'm on a Surface Pro and for some reasons the TradeReport doesn't show well, but still:

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That's -1R (1% for me) for the week, on 2 setups (2 units each). Nothing dramatic, plus there's a floating trade of 1 unit that's 1R in profit right now, letting it ride till next week.

USDJPY H4:
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First unit reached 1R. Execution error on my part, as normally at that point my Trade Manager EA moved the SL to BE for the remaining units. But since I'm not on my PC (and I couldn't remotely Teamviewer into it because somehow it crashed), the 2nd unit got stopped out at a loss. In all fairness, this should have been a +0.5R, got 0R instead.

GBPAUD H4:
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Looks like a normal loss to me.

USDCHF H4:
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Only took 1 unit here, floating 1R profit.

So nothing special this week, I'm eager to start next week's market, try the new layouts, and get some more trades going .
  • #3,074
  • Aug 16, 2019 8:43am Aug 16, 2019 8:43am
Quoting Barraka
My trade report for the week. I'm on a 1 week holiday, so took less trades, and unfortunately couldn't monitor them like I should. Also, I'm on a Surface Pro and for some reasons the TradeReport doesn't show well, but still: {image} That's -1R (1% for me) for the week, on 2 setups (2 units each). Nothing dramatic, plus there's a floating trade of 1 unit that's 1R in profit right now, letting it ride till next week. USDJPY H4: {image} First unit reached 1R. Execution error on my part, as normally at that point my Trade Manager EA moved the SL to...
Sounds very good compared to my losses this week. I hate to think about it, good job its demo and I am still learning. Roll on next week
  • #3,075
  • Aug 16, 2019 8:54am Aug 16, 2019 8:54am
Quoting Mercennary
So let me get this straight, as soon as the system hit a period of losing trades all of sudden isn't worth shit? Some of the guys here are still searching for the holy grail, I'm searching for a 50% edge and a decent reward to stay in the game for the long haul.
100% well said Mercennary.

But what I have established about this method is that it is a means to help you move in the direction the bankers are moving the market more than 90% of the time and if you're locking your profits in correctly by not being greedy, one can only win win win.

I will go live with my trading plan which now includes rules and a new found discipline that I never knew before joining this forum.
The more you learn, the more you see
  • #3,076
  • Aug 16, 2019 8:55am Aug 16, 2019 8:55am
Quoting RobinHood
{quote} Here's just ONE (of several) simple ways I use it. For Long Trades: If the vertical smTMMS lines turn Green AND the HMA Trend turns Blue, I go Long. If EITHER smTMMS changes to Gray OR the HMA Trend changes to Orange, I exit. For Short Trades: If the vertical smTMMS lines turn Red AND the HMA Trend turns Orange, I go Short. If EITHER smTMMS changes to Gray OR the HMA Trend changes to Blue, I exit.
Just to better understand, is this enter method meant to be at the candle close or i can enter also as soon as i see the enter conditions?
Many thanks
  • #3,077
  • Aug 16, 2019 8:59am Aug 16, 2019 8:59am
Quoting luca5594
{quote} Just to better understand, is this enter method meant to be at the candle close or i can enter also as soon as i see the enter conditions? Many thanks
The trade is taken at the candle open, so that all the indicators are updated with their definitive value for the previous candle.
  • #3,078
  • Aug 16, 2019 9:02am Aug 16, 2019 9:02am
Quoting luca5594
{quote} Just to better understand, is this enter method meant to be at the candle close or i can enter also as soon as i see the enter conditions? Many thanks
It's up to your own personal preference. I do it both ways, BUT ONLY IN THE DIRECTION OF THE TREND (using most or all of the 7 indicators we use).

I like trading baskets of pairs because it USUALLY helps to assure that you catch some big fish, but it also can entail many small losers.

Think of it like this...

Which way are you most likely better off when fishing?

Having 1-2 fishing lines in the water?

OR

Having 10-20 fishing lines in the water?
Always a Student, Never a Master - Emulate What Works
  • #3,079
  • Aug 16, 2019 9:02am Aug 16, 2019 9:02am
Quoting DrDave
{quote} Not for some people. They need at least 6 months of live trade results. Otherwise, it can't be anything other than luck and/or smoke and mirrors. (This EUR weakness that is fueling a lot of those pips is showing initial signs of ending. Let's see if it can follow through.)
I think DrDave might have been eluding to Vortexz comments from post 3021
  • #3,080
  • Aug 16, 2019 9:10am Aug 16, 2019 9:10am
"Trading the "hot hand": Trading the strongest/weakest market is actually really simple. For example, yesterday the Eur/Usd was up more proportionately than the Usd/Chf was down. This was because the Usd/Chf wasn't even a down day. Definitely off its highs but not down relative to last week's close. The Eur/Usd was up, up and away! So that is the market you buy. " Peter Crowns DIBS method.

Yesterday the GBP pairs were doing great - So today you trade the hot hand, namely the GBP pairs.
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