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Monitor for 'Trading Made Simple' system 565 replies

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

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MTF Indicators for the 'Trading Made Simple' system 241 replies

Trading Made Simple system follower - Thanks to eelfranz 9 replies

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Trading Made Simple

  • #50,221
  • Jan 17, 2015 8:58am Jan 17, 2015 8:58am
HI SJ,
hope your having a good weekend when trading 4h, and Daily, how many pips would you advise roughly as a stop, im only demo so not going to loose any money, just after a rough guide please, thanks M
  • #50,222
  • Jan 17, 2015 9:00am Jan 17, 2015 9:00am
Quoting erelation
{quote} Hi SJ, I am curious how you will be trading the usd/cad... the long term trend is up but the TDI cross down. Are you going to short or waiting for retracement to get back into Long? Regards erelation
Good morning Erelation.

The usd/cad is in retracement mode & the Tdi is pointing down.
I'll wait for the tdi to reposition itself & take the long trade.
I'll have to watch it for the exact entry...but I love
retracement trading.

You can just see the moves...no big deal!

sj
  • #50,223
  • Jan 17, 2015 9:05am Jan 17, 2015 9:05am
Quoting montego
HI SJ, hope your having a good weekend when trading 4h, and Daily, how many pips would you advise roughly as a stop, im only demo so not going to loose any money, just after a rough guide please, thanks M
Good morning Montego,

I don't go by pips. I will place my stop
just below the top or bottom of the "pac".
I think trading with the pac is awesome &
very useful. The pac has helped my trading...
sj
  • #50,224
  • Jan 17, 2015 9:08am Jan 17, 2015 9:08am
Quoting snarlyjack
{quote} Good morning Erelation. The usd/cad is in retracement mode & the Tdi is pointing down. I'll wait for the tdi to reposition itself & take the long trade. I'll have to watch it for the exact entry...but I love retracement trading. You can just see the moves...no big deal! sj
Thanks SJ.

I am also waiting for the LONG for usd/cad....

This time i will be using trailing stop instead of TP.

Cheers.
erelation
  • #50,225
  • Jan 17, 2015 9:27am Jan 17, 2015 9:27am
Quoting erelation
{quote} Thanks SJ. I am also waiting for the LONG for usd/cad.... This time i will be using trailing stop instead of TP. Cheers. erelation
Erelation,

If you watch enough currency pairs their
is always a pair that is moving with the trend...
Counter trend moves can be pretty nerve wracking.
Especially for a swing trader like myself...
That is why I like the guppy's & pac so much, you
can position yourself with the trend much easier.

I will look at the levels for my tp area. But a trailing
stop is good also...you never know where price is going to
end up...

sj
  • #50,226
  • Edited 10:33am Jan 17, 2015 10:14am | Edited 10:33am
Quoting snarlyjack
{quote} Good morning Montego, I don't go by pips. I will place my stop just below the top or bottom of the "pac". I think trading with the pac is awesome & very useful. The pac has helped my trading... sj
Thanks SJ,
but to some up, if I had took this trade on the second blue candle the stop would have been where I have put the red line, is this correct ?
or more like the bottom chart ? thanks M
Attached Image(s) (click to enlarge)
Click to Enlarge Name: sl.png Size: 59 KB
Click to Enlarge Name: sl 2.png Size: 59 KB
  • #50,227
  • Jan 17, 2015 10:40am Jan 17, 2015 10:40am
Good afternoon friends, I have been working with my real account in fxcm, but with everything that happened this week, called for the withdrawal of funds.
Someone advises some credible broker?
I am thinking of IronFX, what is your opinion?

I know this is not an issue here, but currently this is the few threads that I follow and I trust in the experience of some members and this is the system that I'm using in my real account.

Thank you all
PM
  • #50,228
  • Jan 17, 2015 10:45am Jan 17, 2015 10:45am
Quoting montego
{quote} Thanks SJ, but to some up, if I had took this trade on the second blue candle the stop would have been where I have put the red line, is this correct ? or more like the bottom chart ? thanks M {image} {image}
Hi Montego
Eelfranz used to place his stops on 4hr charts at the previous swing hi/lo. My chart below shows where I would have place my stop just below the lower PAC which is also a low point.
Ray
Attached Image (click to enlarge)
Click to Enlarge Name: USCAD.png Size: 273 KB
  • #50,229
  • Jan 17, 2015 10:58am Jan 17, 2015 10:58am
Quoting fxray
{quote} Hi Montego Eelfranz used to place his stops on 4hr charts at the previous swing hi/lo. My chart below shows where I would have place my stop just below the lower PAC which is also a low point. Ray {image}
Thanks Ray that clears this up for me, ive been putting it too close and have been taken out on a few trades, cheers and thanks for taking the time to do the diagram, Montego
  • #50,230
  • Jan 17, 2015 12:14pm Jan 17, 2015 12:14pm
Quoting snarlyjack
{quote} Ballistical, Give this template a try... I think it will help you! sj {file}
hi sj..what is actual rsi for Synergy Pro Tdi..i noticed that current/default rsi value is 10..i think it was 13..need confirmation from all..thanks
FXerha
  • #50,231
  • Jan 17, 2015 12:15pm Jan 17, 2015 12:15pm
Quoting montego
{quote} Thanks SJ, but to some up, if I had took this trade on the second blue candle the stop would have been where I have put the red line, is this correct ? or more like the bottom chart ? thanks M {image} {image}
As per TMS rule logical SL should be below the swing low/structure low
Attached Image (click to enlarge)
Click to Enlarge Name: Swing low.png Size: 53 KB
Sad i'm not trying to understand PA
  • #50,232
  • Jan 17, 2015 12:59pm Jan 17, 2015 12:59pm
Quoting omonisha
{quote} As per TMS rule logical SL should be below the swing low/structure low {image}
Omonisha great picture, I understand now , will give it a whirl Monday thankyou M
  • #50,233
  • Jan 17, 2015 2:21pm Jan 17, 2015 2:21pm
Quoting montego
{quote} Hi classy, no problem, here it is {file}
many many thanks for you time and efforts.God bless you.
Say something meaningful or Silence!!
  • #50,234
  • Jan 17, 2015 2:28pm Jan 17, 2015 2:28pm
Quoting montego
On the subject of news calculators/indicators the one above is good but it is a little big, has anyone got a smaller one they can share that doesn't take up as much room on the chart? Many thanks M
hi montego, have look at this news-indi, but pay attention that you have to switch on all currencies you want that he show you news...

greetings robcole
Attached File(s)
File Type: ex4 Sonic_5 FFCal Panel (Black).ex4   70 KB | 444 downloads
  • #50,235
  • Jan 17, 2015 2:37pm Jan 17, 2015 2:37pm
Quoting montego
{quote} Thanks SJ, but to some up, if I had took this trade on the second blue candle the stop would have been where I have put the red line, is this correct ? or more like the bottom chart ? thanks M {image} {image}
motengo i like your temp.i know all indicator is attached in paperclip but you arrange nicely .it is so clear to understand and easy to gather lot information.i really appreciate it.would you like to share your chart indi and temp as zip file please.thanks in advance.
Say something meaningful or Silence!!
  • #50,236
  • Jan 17, 2015 4:14pm Jan 17, 2015 4:14pm
30 pips from UJ late friday afternoon...
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYH1.png Size: 33 KB
  • #50,237
  • Jan 17, 2015 8:48pm Jan 17, 2015 8:48pm
Quoting snarlyjack
{quote} Thank you Wyley, After sleeping on this. I have decided to trade the usd/cad. I like Canada & only live about 200 miles south of the Canadian border. Plus we have quite a few traders here from Canada... Canada is a oil play currency! sj {image}
Yeah I like u/cad too and the swap isn't bad and it gives some good moves on the oil factor like you said. Funny I'm about 200 miles from the border too so winter is my favorite time to trade, ITs COLD out there!
  • #50,238
  • Jan 17, 2015 10:11pm Jan 17, 2015 10:11pm
AUDUSD and AUDJPY H1 trades taken on Friday 16 Jan.
These are SYD_2H trades. I look at the range of the first 2 hours of the Sydney session and then follow the previous day price action.
Always keeping my rules simple:
Follow the Prev D price bar or candle
Trade away from the Day Open.
Trade away from BRN '00' levels.
Keep target profit withing expectation, Asian session is usually narrow range.
Use Multi-Lot entry, exit 1st Lot at 20pips, and BE 2nd lot and to look for a bigger move during the session.

Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD 16 Jan SYD_2H trade.png Size: 69 KB


Attached Image (click to enlarge)
Click to Enlarge Name: AUDJPY 16 Jan H1 trade SYD_2H.png Size: 70 KB


Note:
use the Day Open line to see the Day price bar pattern.
set your chart to Bar Chart and place the price bar set to Foreground Chart. This will overlay the real price bar over the APB candles.
You will see the real price bar and read the price action better this way.
You only need to see the APB body size and its colour, these are significant to make trade decision.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #50,239
  • Jan 17, 2015 10:16pm Jan 17, 2015 10:16pm
Little gold nugget!

Thanks!




Quoting emmanuel7788
AUDUSD and AUDJPY H1 trades taken on Friday 16 Jan. These are SYD_2H trades. I look at the range of the first 2 hours of the Sydney session and then follow the previous day price action. Always keeping my rules simple: Follow the Prev D price bar or candle Trade away from the Day Open. Trade away from BRN '00' levels. Keep target profit withing expectation, Asian session is usually narrow range. Use Multi-Lot entry, exit 1st Lot at 20pips, and BE 2nd lot and to look for a bigger move during the session. {image} {image} Note: use the Day Open line...
  • #50,240
  • Jan 17, 2015 10:21pm Jan 17, 2015 10:21pm
Quoting Ballistical
{quote} Thanks Griffin! I will certainly consider a GBP pair once I feel I have "mastered" EA... Clearly, I've got a lot to learn about EA first though... my results have certainly improved drastically since I began focusing on one pair around LO... {quote} Thanks TSS! I draw the blue boxes at the end of the week as I think they just help show what the TDI was doing when I took the trade... something else I learnt from Phx62... {quote} Thank you Emmanuel! Actually, I've had trouble with Cavemanager lately so I tend to open trades with...

Hi Ballistical,

OK, next week I will trade EURAUD during the Euro session and will use THV CaveManager to explain a few things with posts.
A few years ago, I was in quite similar situation with many BE trades and a win rate of 45%. One of my mentors studied all my trades and recommended a change in my money management and exit strategy. That made a significant change in results - improved win rate to about 65% and also the overall. Expectancy for my H1 intraday trading system. I was not using the TDI back then, but was using the Fozzy-RSI method which is identical to the TDI.

Stay tune.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
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