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Trading Made Simple system follower - Thanks to eelfranz 9 replies

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Trading Made Simple

Quoting bonzdoc
Hey Kumo I may have missed it but I am curious as to when you start to lock in profits or move to break even when a trade is going in your favor.
I as per the rules watch the TDI.

But, I watch round numbers, (00 &50) levels, and retracements and S&R to the left. To watch those I have a plain chart up with nothing on it but round numbers.

So, in a good short move as in to day. I'll lock in pips after it passes a round number and after a retracement on the 5M.

BE is trickier. I usually put SL at BE if a trade is in the postive and is approaching S&R or a round number and I'm not sure if it's going to rebound and go past my entry. I try to never let a winner turn into a loser. This is usually about 20-30 pips, if the trade took a while to get that postive, which means it might not be that strong.

If I get stopped out at +20-30 (or BE) and the trade keeps going my way anyway I can always get back in on the next retrace if I think it still has gas.

If price zooms past 20-30 relatively quickly I don't worry about setting to BE unless I can't be by the comp at that time. But if it gets past there quick, It's usually time to start locking in postive.
Quoting adeforex
i just woke up around 2.00 am my local time for bounce trade i saw on kiwi last night, peeeeeeeeew! 80 pips within 2 minutes after the news on unemployment change that easily favored my sell order. i am out and back to sleep. What a lucky move and effortless move
Gratz, gotta love those good quick trades that have rocket skates on em.
  •  bonzdoc
  • | Joined Jun 2007 | Status: Mountain Man & Beach Bum All In One | 41 Posts
Thanks Kumo
I read you only trade the US session. Due to work that is when I trade and on the 4hour charts also. How many trades do you think you average a week (not sure how long you have been trading this system)? Also If you open a trade on Friday say at 1pm eastern and it is still moving in your favor at the close of the bell do you leave it open? I doubt you would but am curious how other people trade in those situations.
"If your mind can see it and believe it you can achieve it."
Quoting bonzdoc
Thanks Kumo
I read you only trade the US session. Due to work that is when I trade and on the 4hour charts also. How many trades do you think you average a week (not sure how long you have been trading this system)? Also If you open a trade on Friday say at 1pm eastern and it is still moving in your favor at the close of the bell do you leave it open? I doubt you would but am curious how other people trade in those situations.
I've only been trading this method about 2 weeks. Mainly EU and GU. Averaging about 1 4H cross trade a day. I play within the 4H cross, if it keeps going. Today on the EU I was in and out of 3 trades during the short move, what with locking in pips.

I try to be out of trades before friday close. My borker IBFX isn't open on the weekend on their can be a gap. Only way I'd keep a trade open if I was way ahead and could lock in some postive and hope it kept going till sunday night.
Have just discovered this thread and downloaded the indicators. Been trying to trade FX forever but with minimal success. This system looks very different from anything else I've tried. Can someone assist with where each of the indicators are saved in Met4? I've got the stochastics and the candles ok but not the TDI
Thanks
Hoody
Hoody - see Page 1 of the thread - post 14. You better start reading it soon as it is turning into War and Peace. Give yourself a chance and read it all before putting on a trade.
Quoting hoody
Have just discovered this thread and downloaded the indicators. Been trying to trade FX forever but with minimal success. This system looks very different from anything else I've tried. Can someone assist with where each of the indicators are saved in Met4? I've got the stochastics and the candles ok but not the TDI
Thanks
Hoody

indicators folder if it has a .ex4 file name ext it it has tpl ext it go's in the template folder Hope this helps
Quoting eelfranz
Our friends outside the USA....

I believe the London Session is the best sesson to trade... The only reason I trade it on the 4hr charts because that's my normal sleep time. I put my S/L at the previous swing hi or low... so if it swings up and down 30 pips let say... I'm unaware of it because I'm sleeping.

[font=Comic Sans MS][size=3][color=#0000ff][u]If my normal traing hours included the London Session I'd...
Mr Eelfranz, I should be blessed with your strategy as London Session starts from 2pm on my place (means that it is not my sleeping time). But I'm still working with your strategy so it can fits my style. My Brain is still thinking that too risky to place order on a candle that haven't closed yet. as my previous pictures I attached, When the candle starts, the TDI seems flat so I don't take any position. but 4 hours later, as the price progress to go up, the TDI which is flat on previous 4 hr, now, just a couple minutes before the 4 hrs candle ends, the TDI seems to look up on the previous 4 hrs.

Or one time that I enter when TDI seems to look up on the start of the candle and I buy, the next 4 hrs, the TDI which looked up on the starts of the candle, now when the candle near to end its period, seems flat because price did not progress to go up.

I need to get used with this TDI so I don't feel that I did not get tricky by he's looking.

BTW..thanks for sharing the strategy, O, and I hope You're getting well soon mr Eelfranz.

Thanks,
Viocable
Quoting KumoDragon

I try to be out of trades before friday close. My borker IBFX isn't open on the weekend on their can be a gap. Only way I'd keep a trade open if I was way ahead and could lock in some postive and hope it kept going till sunday night.
Hi KD,

You may not be aware that with virtually all MT4 brokers if you have stop losses or take profits that get gapped over the weekend you are not treated fairly.

If it gaps past your stop loss they will close you at the opening price, way past your stop. If it gaps past your take profit they will close you at your TP.

Not fair but that is what virtually all MT4 brokers do, I think it better to have no SL and no TP so that you can benefit as well as lose from the gap, or close all trades before the weekend.
Money grows on the tree of persistence
Quoting hawaii5000
Hoody - see Page 1 of the thread - post 14. You better start reading it soon as it is turning into War and Peace. Give yourself a chance and read it all before putting on a trade.
Thanks Hawaii5000. But my problem is where to place the TDI Red Green.mq4 file. Does it go in the Experts/indicators file? Thats where put it but nothing shows in MT4 indicators when I open the program. I put the template in the experts/template file and same result.
Quoting hoody
Thanks Hawaii5000. But my problem is where to place the TDI Red Green.mq4 file. Does it go in the Experts/indicators file? Thats where put it but nothing shows in MT4 indicators when I open the program. I put the template in the experts/template file and same result.

Template file should be loaded in the template folder not the experts/template folder.
Quoting hoody
Thanks Hawaii5000. But my problem is where to place the TDI Red Green.mq4 file. Does it go in the Experts/indicators file? Thats where put it but nothing shows in MT4 indicators when I open the program. I put the template in the experts/template file and same result.
Hi Hoody
There are 2 Template folders , One Experts/template and other on the downsine of MT4 Brokers folder .
Copy tpl file to this Template File folder.

arasheed
I,m in
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Quoting dean
I,m in
With you brother. Move to risk aversion sees USD and JPY buying right now. Most majors are falling against these two.
Quoting ToeCutter
With you brother. Move to risk aversion sees USD and JPY buying right now. Most majors are falling against these two.
Might up the anti a bit and add to it if it looks like getting past this support level at around 1.4183 ish...nothing to stop it bar round numbers after that, especially considering she's just gone through 1.42
Quoting ToeCutter
With you brother. Move to risk aversion sees USD and JPY buying right now. Most majors are falling against these two.
You got anything else runing Toey?? or just that one??
Quoting dean
I,m in
Strange my charts are saying TDI is flat.. maybe a different broker thing?
Quoting nhen
Strange my charts are saying TDI is flat.. maybe a different broker thing?
Yeah...I'm now out with 16 pips... bloody thing went flat.
Just entered this trade. (Demo)

Comments welcome/appreciated.

SR
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Quoting dean
Yeah...I'm now out with 16 pips... bloody thing went flat.
Cheeky bastard.. - the TDI that is.

NZUS looking ok, but has gone up after open of candle on 1H and has found support. Next support down if it breaks that is about 40 pips. Against trend though.
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