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Trading Made Simple 118,062 replies

Trading Made Simple the right way, and other trading lessons 233 replies

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Trading Made Simple system follower - Thanks to eelfranz 9 replies

Attachments: Trading Made Simple(r)
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Trading Made Simple(r)

Quoting JV1423
{quote} Alright so look for one higher time frame for trend confirmation with all the indicators in the right direction and then drop down one more time frame for confirmation but then drop to either the 5 minutes or 15 for entry. Could you show me how you would enter the 5 or 15 minutes because from experience when I used to trade down there on naked charts it has a ton of fake outs
1. You do not NEED all the indicators in the right direction to enter a trade. At least I don't. 3 or 4 or 5 is good enough for me. But, that's also a personal preference. You do what works best for you. For example, when I trade stocks, I ONLY use 3 indicators on the Daily chart, and 3 on the Weekly chart. They are listed below:

a) A moving average - the stock price must go above it, and close above it
b) One proprietary indicator - the stock price must go above it, and close above it
c) Increased Volume - the stock must have much higher volume than it normally does

I usually ONLY exit when the stock price falls below b) (and rarely, but sometimes a) ), and closes below either one of them.

*The reason I say rarely is because 99% of the time, price will fall and close below b) before it does a).


2. You enter on the 5 or 15 minute chart in exactly the same way that you enter on the higher time frames. Use the same indicators in the same way.
Always a Student, Never a Master - Emulate What Works
Quoting WindFreeze10
Hi all, I have benefited a lot from this thread and is now trading for a prop firm. Would like to propose an indicator (that i use on top of this method) to further filter all false signal, as part of giving back. Setting as per screenshot. Hopefully will be of help to the tms(r) team. I only trade the daily chart but you may try it on 4h as well. Cheers, {file} {image}
Thanks for your contribution, I tried the above QQE and found it to be effective,

You have mt5 version for QQE indicator,

Thank you
Quoting RobinHood
{quote} I think that if entering that way is giving you better results, then that is what you should do. The way I do it is...for example...if I am trading a 4hr chart... I look to the Daily chart to confirm the direction is the same as the 4hr chart, and if it is, I then drop down to the 5 min chart and enter when I get the right entry signal. OR The way I do it is...for example...if I am trading a Daily chart... I look to the Weekly chart to confirm the direction is the same as the Daily chart, and if it is, I then drop down to the 15 min chart...
I am ranking Zulutrade
invest with me
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Quoting johnpham007
{quote} Thanks for your contribution, I tried the above QQE and found it to be effective, You have mt5 version for QQE indicator, Thank you
I dont have mt5 version, but forex-station should have. I suggest using mladen or mrtool's work so there's no repainting issues. Cheers
Full Time Funded Trader. Occasionally drop by FF. Expect a delay in reply.
Hi RobinHood,

Hope you are well. I am newbie trading, i have just reading your thread and like your strategy but i dont know how to set up in my trading acc, i am using CMC Market platform.
can you show me how to install it in my platform.

Many Thank
Quoting senny.lotus
Hi RobinHood, Hope you are well. I am newbie trading, i have just reading your thread and like your strategy but i dont know how to set up in my trading acc, i am using CMC Market platform. can you show me how to install it in my platform. Many Thank
I've never used that platform so I can't help you with it. Call their customer support and maybe they can help you with it.
Always a Student, Never a Master - Emulate What Works
Hello RobinHood,

after some years hibernating from forex trading, I decided to re-learn. Thank you for sharing, really appreciate. I attached my yesterday's entry. Demo account, risk 1%, divided into 3 identic lot size. The first 1/3 lot size reached TP on 1R by yesterday. The second lot size set for TP on 2R and SL moved to 2 previous candle. The third lot size SL moved to BE and will exit once 2-3 indicators change the color.

Any feedbacks are welcome.

... still catching up all pages (now on page 70) to learn from the discussions you guys have here ....
Quoting SwingMan
New version "smCorrelationTrend_v2.0" Here is a small addition: - one can shift the line (as in subchart 1) - one can take different prices into account (Open and Close as in subchart 2) (The manually drawn areas correspond to the crossing of the indicator with the 0 line) {image} {file}

Moin SwingMan,

vielen Dank / Thank you very much.
I like your code, it shows concisely how to translate TS code into MQL.

cheers
Cognoscio

P.S. first post here - and first forum topic I subscribed to. I've read most of the postings and trying to create a checklist to use before actually entering a position.
If I code, I can't trade...
Quoting etheldreda
Hello RobinHood, after some years hibernating from forex trading, I decided to re-learn. Thank you for sharing, really appreciate. I attached my yesterday's entry. Demo account, risk 1%, divided into 3 identic lot size. The first 1/3 lot size reached TP on 1R by yesterday. The second lot size set for TP on 2R and SL moved to 2 previous candle. The third lot size SL moved to BE and will exit once 2-3 indicators change the color. Any feedbacks are welcome. ... still catching up all pages (now on page 70) to learn from the discussions you guys have...
Can you post the chart?
Always a Student, Never a Master - Emulate What Works
Quoting RobinHood
{quote} Can you post the chart?
ow i am so sorry, i didn't click the Insert properly. Update: 1/3 lotsize TP on R1. 1/3 lotsize TP on R2. I let the third lot size run not on purpose actually. should have close it after the first red bar (bar color change & closed below the MA)

Attachment 3879245
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Taking the continuation signal. as per rule the ideal entry was on the opening of this bar. Risk 1%. 1/3 lot size set for TP 1R, 1/3 lot size set for TP 2R.
Quoting etheldreda
{image} Taking the continuation signal. as per rule the ideal entry was on the opening of this bar. Risk 1%. 1/3 lot size set for TP 1R, 1/3 lot size set for TP 2R.
That's a good way to trade. On the 3rd 1/3, you should let it run until the market takes you out rather than getting out at a predetermined Profit Target.
Always a Student, Never a Master - Emulate What Works
Hi Robinhood,
I am having trouble loading your template. Managed to drag it onto charts but then found that the settings and colours were all different to your charts and different to the setting referenced on your page one.
Have you updated your download template file? I am on MT4 and indicators seem to load OK from others.
Kjoy
@Robinhood
Robinhood so far this week its been really slow like the pairs are not moving in one direction for swings. The daily trend for indicators is stuck in either a pullback or changing colors so no trends being officially established for this week. How would you trade a week like this because I would love to find at least 1-2 swing trades a day or 4-5 a week is cool too.
EUR/CHF waiting for D1 confirmation to close above the MA (continuation on D1). Entry on H4. Risk 1%. As usual 1/3 lot size set on 1R, 1/3 lot size set on 2R.
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USD/CHF H4 continuation. Risk 1%. As usual 1/3 lot size set on 1R, 1/3 lot size set on 2R. Btw, I still have my last lot size (1/3) from previous batch open on this pair, SL moved to TP2.

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Quoting kjoy
Hi Robinhood, I am having trouble loading your template. Managed to drag it onto charts but then found that the settings and colours were all different to your charts and different to the setting referenced on your page one. Have you updated your download template file? I am on MT4 and indicators seem to load OK from others. Kjoy
I have not updated it, ever. It has to be a problem on your end because as you can see no one else here is saying that they are having the same issue.
Always a Student, Never a Master - Emulate What Works
Quoting JV1423
@Robinhood Robinhood so far this week its been really slow like the pairs are not moving in one direction for swings. The daily trend for indicators is stuck in either a pullback or changing colors so no trends being officially established for this week. How would you trade a week like this because I would love to find at least 1-2 swing trades a day or 4-5 a week is cool too.
For 30+ years, I have tried to figure out when NOT TO TRADE, and as of yet, I still don't have the definitive answer.
Always a Student, Never a Master - Emulate What Works
Hi RobinHood,

I was waiting for the confirmation on AUD/CAD D1 (continuation). Today I saw the indicators confirmed on D1. But on H4, the setup bar was actually 2 candles back with about 50pips SL. I managed my entry on M5, but the SL is 85pips now.

Please advice, what will you do on this case:
- entry on H4 without waiting for D1 close
- entry with 85pips SL
- waiting for continuation on H4 to have smaller SL --> on the second thought, this should be the better one I think...

Chart attached below.

Thank you!

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Quoting etheldreda
Hi RobinHood, I was waiting for the confirmation on AUD/CAD D1 (continuation). Today I saw the indicators confirmed on D1. But on H4, the setup bar was actually 2 candles back with about 50pips SL. I managed my entry on M5, but the SL is 85pips now. Please advice, what will you do on this case: - entry on H4 without waiting for D1 close - entry with 85pips SL - waiting for continuation on H4 to have smaller SL --> on the second thought, this should be the better one I think... Chart attached below. Thank you! {image}
There is no one right answer. You have to do what feels best to you.

The way I now always trade is...For example...If I am trading a Daily chart, I look for the indicators to be aligned on the Weekly chart first, then I wait for an entry on the Daily chart.
Always a Student, Never a Master - Emulate What Works
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