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Trading Made Simple

  • #84,161
  • Dec 12, 2017 4:48am Dec 12, 2017 4:48am
Davit's system rocks check it out
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John 3:16. Repent Jesus Loves you
  • #84,162
  • Dec 12, 2017 5:01am Dec 12, 2017 5:01am
Quoting ifophia
Davit's system rocks check it out {image}
wrong thread-

-- by the way.. the explorer shows :

Today (Tue) -27.4% -$43 -176 2/2 0.15
This Week -30.1% -$49 -208 6/7 0.27
This Month -12.2% -$16 -222 12/10 0.52
This Year -12.2% -$16 -222 12/10 0.52
All Time -12.2% -$16 -222 12/10 0.52



may be you understand"rocks" a bit wrong.. all the best
Risiko birgt immer auch die Chance.
  • #84,163
  • Dec 12, 2017 5:37am Dec 12, 2017 5:37am
Quoting Sesamstrasse
{quote} wrong thread- -- by the way.. the explorer shows : Today (Tue) -27.4% -$43 -176 2/2 0.15 This Week -30.1% -$49 -208 6/7 0.27 This Month -12.2% -$16 -222 12/10 0.52 This Year -12.2% -$16 -222 12/10 0.52 All Time -12.2% -$16 -222 12/10 0.52 may be you understand"rocks" a bit wrong.. all the best
good example for the risk of that trading approach. -27% on a single day is unacceptable but the way many noobs are trading.
iīm sure it rocks - like sisyphos, the next backlash is just a matter of time:

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fortis fortuna adiuvat
  • #84,164
  • Dec 12, 2017 7:06am Dec 12, 2017 7:06am
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4h AUDUSD trade TMS style...
Attachment gAttachment g
  • #84,165
  • Dec 12, 2017 10:17am Dec 12, 2017 10:17am
Quoting Sesamstrasse
{quote} wrong thread- -- by the way.. the explorer shows : Today (Tue) -27.4% -$43 -176 2/2 0.15 This Week -30.1% -$49 -208 6/7 0.27 This Month -12.2% -$16 -222 12/10 0.52 This Year -12.2% -$16 -222 12/10 0.52 All Time -12.2% -$16 -222 12/10 0.52 may be you understand"rocks" a bit wrong.. all the best
Oh my goodness. now I can understand the rivalry between TMS and Davit's Pivot System. your negative comment got me banned on my favorite thread, I was only practicing on a demo account to get a feel for the system better. His System actually rocks, I have been in profits at a time in all the trades,the challenge I face is managing the trades when in profits.The problem is not with the system but with me, having the patience to follow her setups and not trade hyper pairs as such. Davit is a good teacher and shares his knowledge freely.I like his Style and will keep following till i get it right. besides so many guys are killing it with the system, and am not even a month old on it.

I believe Traders on Forex Factory should be more united and find a common ground on issues rather than foster rivalry than doesn't promote Profiting from the forex Market.

Thanks.
Regards
Ifophia
John 3:16. Repent Jesus Loves you
  • #84,166
  • Dec 12, 2017 10:24am Dec 12, 2017 10:24am
Quoting deltaone
{quote} good example for the risk of that trading approach. -27% on a single day is unacceptable but the way many noobs are trading. iīm sure it rocks - like sisyphos, the next backlash is just a matter of time: {image}
Hello Deltaone, am glad you noticed my noobie mistakes, I took a huge risk with hopes that if i can win one or two trades i will then cut down on my lot sizes. still in the trades though. Any methods you can suggest to aid my money management would be highly appreciated.

Thanks
Ifophia
John 3:16. Repent Jesus Loves you
  • #84,167
  • Dec 12, 2017 10:56am Dec 12, 2017 10:56am
Hi all,

I've been lurking here for quite a few months now and reading through BIG E's method with interest. I've read through the BigE full PDF twice now which details his posts and I'm ignoring anything not in his teachings as that's what has worked and that's what I'm trying to implement.

The long and short of my post is I've put together a cheat sheet/entry calculator in Excel which is designed to be a one look helper for people new to trying this strategy. It's helped me massively and stopped me pulling the trigger so many times in the last week since I put it together.

I'm an experienced trader in US stocks and futures but I'm fairly new to FX. The PASR methodology is transferable to FX but it's a little more wild at times it seems. This is one reason I wanted a longer time frame strategy so as not to get chopped out on small timeframes which I use to trade stocks.

I'm in a break even situation after just under 3 weeks with this 4Hr method and it's slowly sinking in. The 1Hr trades I've tried have had very mixed results and they have made the majority of my losses so I'm sticking to the 4Hr timeframe.

Anyway to the point of my post....

The TDI Cross PDF (not sure who originally posted it but thanks) was a real eye opener to simplify my understanding of all BIG E's teachings and I wanted to contribute a little spreadsheet that may help others that are new to the thread. It's designed to be an at a glance doc you can look at quickly before entering a trade and a way of scoring whether it's a good entry or not.

I keep this open on one monitor at all times and scan it and use the entry condition calculator before I hit the button.
It's a simple score out of 7 to show you the quality of your entry.
Theres no cut and dry perfect entry I don't think in any trade but half the battle is psychological and getting your finger to pull the trigger or not at the right time.

Our job as traders is to take risks and enter the market and that's where as a new trader I struggled when I started and I had something similar to this to give me the confidence to get in. The other thing I struggled with for years was over trading and again having this checklist pretty much stopped me doing that overnight.

I like to use trading plans for all my trades so I can visually check off the conditions I like to enter with and this TDI strategy for me has 7 key entry criteria I consider to be perfect.

I enter on trades with less than a 7 score but the 7's are out there every day pretty much. Looking at my trading history the 6's and 7's are pretty much all winners or break evens with a stop at entry after 20 pips (which is what I like to do being a conservative FX trader at the moment until I find my feet). Only a few of the ones I've taken didn't make 40 pips which is my daily target I've set myself. 40 pips on a 4Hr chart should be no problem with a good early entry and even if you're a little late from what I can see so far.

If anyone successfully trading this method has any constructive input as to my entry conditions it would be appreciated but looking at the short historical trades I've done so far only taking the 6's and 7's I think for me will be what fills my golden wheelbarrow!

Anyway look at the spreadsheet and use it if you think it will help. It's certainly stopped me taking to many entries which is what I think we all struggle with when new to a strategy.
Attached File(s)
File Type: xlsx TDI Entry Conditions & Cheat Sheet.xlsx   76 KB | 674 downloads
Study enough and it all starts looking like the Matrix...
  • #84,168
  • Dec 12, 2017 11:10am Dec 12, 2017 11:10am
This thread is getting brutal
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Ecclesiastes 1:9
  • #84,169
  • Dec 12, 2017 12:29pm Dec 12, 2017 12:29pm
Quoting samsonwebdes
Hi all, I've been lurking here for quite a few months now and reading through BIG E's method with interest. I've read through the BigE full PDF twice now which details his posts and I'm ignoring anything not in his teachings as that's what has worked and that's what I'm trying to implement. The long and short of my post is I've put together a cheat sheet/entry calculator in Excel which is designed to be a one look helper for people new to trying this strategy. It's helped me massively and stopped me pulling the trigger so many times in the last...
Hi S.
Nice posting..
I viewed your conditions sheet..
You do it analytic.. EXCELLENT.

Just a tipp: take a look about the big picture . call it homework .. then aim your target and hunt a AAA entry..
If you can add this tto your trading, youīre better than 50/50 IMO.

The h4 is easier to handle ..

stay tuned
Guido
Risiko birgt immer auch die Chance.
  • #84,170
  • Dec 12, 2017 12:32pm Dec 12, 2017 12:32pm
Quoting ifophia
{quote} Oh my goodness. now I can understand the rivalry between TMS and Davit's Pivot System. your negative comment got me banned on my favorite thread, I was only practicing on a demo account to get a feel for the system better. His System actually rocks, I have been in profits at a time in all the trades,the challenge I face is managing the trades when in profits.The problem is not with the system but with me, having the patience to follow her setups and not trade hyper pairs as such. Davit is a good teacher and shares his knowledge freely.I...

Hi and sry.
I just have a little deeper look when someone provides anything that "rocks"
.. and I saw with a quick view .. with you it doesn t.. donīt get me wrong, no offense..... simple analytic...

all the best
Guido
Risiko birgt immer auch die Chance.
  • #84,171
  • Dec 12, 2017 12:34pm Dec 12, 2017 12:34pm
Quoting samsonwebdes
Hi all, I've been lurking here for quite a few months now and reading through BIG E's method with interest. I've read through the BigE full PDF twice now which details his posts and I'm ignoring anything not in his teachings as that's what has worked and that's what I'm trying to implement. The long and short of my post is I've put together a cheat sheet/entry calculator in Excel which is designed to be a one look helper for people new to trying this strategy. It's helped me massively and stopped me pulling the trigger so many times in the last...
If you trade futures why in the world do you want to trade retail forex is beyond me gesh!
  • #84,172
  • Edited 2:51pm Dec 12, 2017 2:32pm | Edited 2:51pm
Quoting ifophia
{quote} Hello Deltaone, am glad you noticed my noobie mistakes, I took a huge risk with hopes that if i can win one or two trades i will then cut down on my lot sizes. still in the trades though. Any methods you can suggest to aid my money management would be highly appreciated. Thanks Ifophia
hi Ifophia,

since you have asked me in a polite way, iīll try to answer in more general:

1) before you start trading, you should ask yourself if it would not be better to invest time in your education in order to increase your regular income from a 9 till 5 job. that would enable you to trade with more capital which canīt be wrong in my point of view. successful trading is a full time job. no one made it with a part time job, thatīs an illusion - and a very common thinking here. you will compete with the big boys which have deeper pockets, more knowledge and better technology than you. 90% of retail traders lose 100% of their money in this game.

2) after you made the decision to become a full time trader, you should focus on one underlying. learn as much as you can about that market. which fundamentals drive it, which players act there, which tactics they use, which time liquidity is highest and so on.

3) then you should decide which time frame you want to trade (short term/mid term/long term) or a mix of that. if itīs a mix, you should decide the allocation of your trading capital you will use for a given time frame. at the beginning, i think one time frame is enough.

4) after that, you should decide the trading style (technical, event-driven, fundamental). which rules for entry? and equal important: which rule for exit - numerical or technical?

5) i advocate a risk-averse trading style. sl and tp for each and any trade, risk budget for the day, the week (the month). canīt see anything bad in having a sl = -1% for each trade you enter. move your sl to be a.s.a.p. have a risk budget for the day/the week which is far below 10%, letīs say 5%. stop when risk budget is reached, protect your trading capital for the next day/ the next week. thereīs a tomorrow for you anytime when you adhere to those rules. first goal has to be: not to lose money. therefor, in general i donīt like the idea of scaling in. it will increase your risk. donīt add to losers. if you get more advanced, you could change this but you still should have a risk budget for the whole position and a plan on the time line how to enter/exit.

my focus in on indices, but i apply the same rules while trading fx.

hope that helps.

all the best
d1

p.s.: and the most important part - donīt follow any self-declared guru/cheerleader blindly on ff. donīt trust them, many of those see themself and their membership here as a second life for some certain reasons. may it be attention, may it be future commercial interest, hiding their agenda like " i wanīt to give something back" or something like that. you will have to find your own way through the darkness, and it will be a journey for years. thereīs no shortcut.
fortis fortuna adiuvat
  • #84,173
  • Dec 12, 2017 3:23pm Dec 12, 2017 3:23pm
Quoting Divergence
{quote} If you trade futures why in the world do you want to trade retail forex is beyond me gesh!
Don't do too much futures and found them too hit and miss. A bit like my past experience with FX. I've only ever concentrated on 5 and 15 minutes with all that and it's never worked out long term with consistency.
Stocks is all I really know and am good at on short timeframe scalps which pay the bills. The first hour price discovery phase in US stocks is where all the money is a bit like the London open in FX.

I looked into FX a couple of times in the last 10 years and never found anything simple and consistent like my goto stock setups which work consistently.

Getting on now and like the idea of having slow burning trades that I can dip into every few hours to check up on while building a pot.
Study enough and it all starts looking like the Matrix...
  • #84,174
  • Dec 12, 2017 3:52pm Dec 12, 2017 3:52pm
Quoting deltaone
{quote} hi Ifophia, since you have asked me in a polite way, iīll try to answer in more general: 1) before you start trading, you should ask yourself if it would not be better to invest time in your education in order to increase your regular income from a 9 till 5 job. that would enable you to trade with more capital which canīt be wrong in my point of view. successful trading is a full time job. no one made it with a part time job, thatīs an illusion - and a very common thinking here. you will compete with the big boys which have deeper pockets,...
I am most grateful for an elaborate explanation. you have given me an A-ha Moment. am getting into full time trading from 2018 and my goal is to make at least 100k dollars annually. Thanks for sharing your knowledge.
John 3:16. Repent Jesus Loves you
  • #84,175
  • Dec 12, 2017 3:58pm Dec 12, 2017 3:58pm
Quoting deltaone
{quote} hi Ifophia, since you have asked me in a polite way, iīll try to answer in more general: 1) before you start trading, you should ask yourself if it would not be better to invest time in your education in order to increase your regular income from a 9 till 5 job. that would enable you to trade with more capital which canīt be wrong in my point of view. successful trading is a full time job. no one made it with a part time job, thatīs an illusion - and a very common thinking here. you will compete with the big boys which have deeper pockets,...
"successful trading is a full time job. no one made it with a part time job, thatīs an illusion - and a very common thinking here. you will compete with the big boys which have deeper pockets, more knowledge and better technology than you."

" you will have to find your own way through the darkness, and it will be a journey for years. thereīs no shortcut"

Holy words Deltaone...
  • #84,176
  • Dec 12, 2017 4:15pm Dec 12, 2017 4:15pm
Quoting Sesamstrasse
{quote} Hi S. Nice posting.. I viewed your conditions sheet.. You do it analytic.. EXCELLENT. Just a tipp: take a look about the big picture . call it homework .. then aim your target and hunt a AAA entry.. If you can add this tto your trading, youīre better than 50/50 IMO. The h4 is easier to handle .. stay tuned Guido
Hi Guido,

Thanks for the comments.
When you say look at the big picture I assume you mean see what the daily and weekly are up to as well as support & resistance.
S/R and round numbers I'm always aware of as a matter of course.

I had considered adding something like "is daily above/below the MA and it's an extra confirmation but I think if a trade get 7/7 of my points anyway it should get me a high strike rate and pips for my barrow.
If it doesn't then the daily and weekly alignment will definitely help.

Time will tell.
Study enough and it all starts looking like the Matrix...
  • #84,177
  • Dec 12, 2017 4:36pm Dec 12, 2017 4:36pm
Quoting ifophia
{quote} I am most grateful for an elaborate explanation. you have given me an A-ha Moment. am getting into full time trading from 2018 and my goal is to make at least 100k dollars annually. Thanks for sharing your knowledge.
To add to deltaone and his advice, a word about leverage. Leverage is not there for you to swing for the fences, leverage is there to add to positions when you are right. Your initial position should be well below one to one. I have no issue with scaling in, but it should be done with respect to the leverage that you carry as well as an absolute dollar stop. As far as your goal, do not think of what you can make, think about being in control at all times, and making logical entries, logical stops, and logical exits. Always adhere to the traders equation.
If you are good at something, never do it for free--Joker
  • #84,178
  • Dec 12, 2017 5:06pm Dec 12, 2017 5:06pm
Quoting ifophia
{quote} I am most grateful for an elaborate explanation. you have given me an A-ha Moment. am getting into full time trading from 2018 and my goal is to make at least 100k dollars annually. Thanks for sharing your knowledge.
youīre welcome. sounds like a plan - good luck!
fortis fortuna adiuvat
  • #84,179
  • Dec 12, 2017 5:09pm Dec 12, 2017 5:09pm
Quoting matmomo
{quote} "successful trading is a full time job. no one made it with a part time job, thatīs an illusion - and a very common thinking here. you will compete with the big boys which have deeper pockets, more knowledge and better technology than you." " you will have to find your own way through the darkness, and it will be a journey for years. thereīs no shortcut" Holy words Deltaone...
i believe in god, but no one should call my words holy
take care
fortis fortuna adiuvat
  • #84,180
  • Dec 12, 2017 5:46pm Dec 12, 2017 5:46pm
Quoting deltaone
{quote} i believe in god, but no one should call my words holy take care
ahahah have right, but in italian is a "saying goes"...
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