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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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Trading Made Simple

  • #89,341
  • Aug 9, 2018 1:57pm Aug 9, 2018 1:57pm
Quoting Tekkies
{quote} Should clarify that sentance. First blow account happened as newbie: "this is easy: buy when go up. sell when go down." Second blow account: Followed a FF member's advice blindly in this thread. Third blow account my own fault: Refuse to close a trade that is in lose. Pride and the "need to be right always" does not belong in any method. The beginning of this year I tried other methods - Spud, Strat, Davit Pivot Point's, Renko, Silver trend, NonLagMA - every time I look at the screen TDI "somehow" found it's way back onto the chart. -----...
Makes sense, Tekkies, thank you for explaining!
  • #89,342
  • Aug 9, 2018 3:42pm Aug 9, 2018 3:42pm
Quoting onejester
{quote} I saw you in that Renko thread with the guy who programmed a really good indicator. You gave him some really good insight, and if I'm honest man respect for that. I believe you when you say this works for you. I think it would be really good if you stuck your cock on the block and threw up a trade explorer. Even if it went horribly wrong, I think it would be a useful experiment and nobody would give you a hard time I'm sure.
Will it make you a better trader?
Post 88,265

Anyway, get get FF Admin to rectify this then you can view TE as much as you want. Been doing that since beginning of this year.
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  • #89,343
  • Aug 9, 2018 5:37pm Aug 9, 2018 5:37pm
That wasn't the reason I asked, that is down to me. Personally, I think it will add credibility to the method.
'in less than half an hour he made over 100 ticks'
  • #89,344
  • Aug 9, 2018 5:59pm Aug 9, 2018 5:59pm
Quoting lddd
{quote} I mainly focus on M15 Charts with a TP around 20-30 Pips and a stop loss of the half.
You'll find Iddd that if you pick the right pairs to trade each day your trading life will be a lot easier. How to choose pairs to trade on an intraday basis and on lower time frames had us scratching our heads for a long time. We knew from back testing and live trading that if we could find a pair that was trending intraday on either M5 or M15 half our job was done before we even took the first trade of the day. It was driving us nuts and it went on for nearly 18 months so we eventually went to our coder and got him to code what we call the Matrix Scanner which I still use on a daily basis and I'm happy to share it here. I find it a good time saver but at the end of the day it is only a tool to point me in the right direction.

It's a very simple tool and is based on 3 MA's and as many time frames as you wish. Personally I use the 1EMA (basically PA), the 10EMA and the 50EMA, the time frames I use are M15, H1, H4 and D1. If all those MA's are aligned then they will show the same colour on the scanner, red for short, green for long. I look each morning for pairs that are aligned up to H4 and if they are then I know that pair is worth taking a look at. If they're all over the place then I give them a miss and find something better.

I hope you find it helpful but to anyone that does want to use it only place one instance of it on a blank chart as it's quite heavy for older computers.

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Ardua Ad Astra Per
  • #89,345
  • Aug 9, 2018 6:03pm Aug 9, 2018 6:03pm
Quoting Tekkies
Sunday reading post's notice that many member's ask that thread starter's or other members to show / demand to see them Trade Explorer (TE). When the TE is showed many cry Photoshop or spin some story that TE / FXSTAT / Myfxbook is somehow manipulated.
Trade Explorers results can't be Photoshoped or manipulated because it comes directly from trading account at your broker, only screen shots of results or charts can be manipulated.

I agree with @onejester, using Trade Explorer would add credibility to anyone's claims of a successful trading method.

Just my opinion.
  • #89,346
  • Aug 9, 2018 6:39pm Aug 9, 2018 6:39pm
Quoting ZapPow
{quote} Trade Explorers results can't be Photoshoped or manipulated because it comes directly from trading account at your broker, only screen shots of results or charts can be manipulated. I agree with @onejester, using Trade Explorer would add credibility to anyone's claims of a successful trading method. Just my opinion.
you got my
the cautious seldom err....C
  • #89,347
  • Aug 9, 2018 8:27pm Aug 9, 2018 8:27pm
If you missed taking profits with JPY pairs, you have another opportunity today when the UK releases its data. That is if you have trades in GBPUSD and GBP commod crosses.

Good luck to the one who trade by Big E's posts only.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #89,348
  • Aug 9, 2018 10:03pm Aug 9, 2018 10:03pm
Quoting bs4
{quote} 1. TDI cross looks good 2. Stochastic 8 3 3 looks good 3. PA looks good (broke previous support July 19) 4. Still some time until 8:30 am tmr (PPI m/m) Will you bring in some pip in approx 14h? Would Big E have entered this? We'll never know...
About the Stochastics

Big E had started as a newbie in 2008 and he tried different 'systems' but spent more time with the Stochastics. He also took seminars by Craig Harris' Natural Flow Forex system which uses and as far as I know traders who still trading M15 London session are still using just one indicator i.e. the Stochastics.

Big E had a lot of experience using Craig Harris CH Natural Flow Forex NFF System.
Some of the PA stuff he mentioned is from that CH NFF system.
The 'reversal' candle big or small etc. is from NFF. The angle 12-2 and 4-6 clock angle is also from the NFF system but he used this angle on the TDI Red Green (Post#25) instead of on the Stochastics.
A lot of his trade decision which TDI cross to trade is discretionary and is based on own experience. Not all the TDI crosses on H4 will results in profitable trades. The win rate is below 50% based on mechanical rules. This can be easily tested and proven.

Read this Post#110 by snarlyjack quoted below:

<quote>
Eelfranz,

THIS HISTORY SHOULD BE PLACED ON PAGE #1.

Here is a brief history of the "Trading made simple by Eelfranz".

When I first met Eelfranz we were studying the system "The
Stochastics Secrets 9-1-2008 by Red Trader". We were evaluating
all the possible ways of trading using Stochastics.

Which led to Craig Harris method 12-11-2009 of different possible
ways of using the Stochastics. Basically stochastics 8-3-3 using
a 15 minute chart with support and resistance.

Which led us to Synergy System with Dean Malone 1-1-2010. And
the finding of the TDI (Traders Dynamic Index) as the main indicator
not the stochastics. Using the stochastic as a secondary indicator.
Also using 1 hour, 4 hour daily charts. Which was new to me because
I was using the 5 minute and 15 minute charts.

Which led to the 5 system (Eelfranz) 1-1-2011 which is the
Trading Made Simple System on the main Forex Factory System
Section. Which is using the TDI indicator as the main indicator
not stochastics with the Ema 5 (typical) shift +3.

So in my mind 9-1-2008 to today 4-26-2011 (2 1/2 years in the making)
all in the search of greater profits with a simple system that is easy
to understand. We are here sharing with our fellow traders at Forex
Factory what we have come up with to be more successful.

If anyone in the future... is interested they can go to the
search function and search our posts starting with Red Trader and
the secrets of stochastics. In my mind this system has been a long
time in the making with hundreds of posts. We felt that it would
be easier for everyone to start a new heading on page 1 without having
to go through hundreds of old posts starting 9-1-2008.

Also I would like to thank Eelfranz for this wonderful learning journey
2 1/2 years and counting. Someone told me "how long is that string
that your pulling on at forex factory in the learning process". For me
it's been 2 1/2 years and still going strong. I've always had the
position of learn as much as you can because the economy is falling
apart and this just might be your next fulltime job so you better
learn. Also forex factory members have been great. Traders learning
from traders free...what could be better...

So once again a big Thank You to everyone and now you know!!!

snarlyjack
<unquote>

There is more to Trading made Simple than just the TDI and the Stochastics,

Too much time is being spent on TDI and Stochastics,
Too little time on Price Action and Support/Resistance.
And no time spend on Money Management, Risk Management for entries and exits, When and How to Let Profits Run.
You need to find your WINNING EDGE and the TDI is not in the winning edge equation.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #89,349
  • Aug 10, 2018 12:42am Aug 10, 2018 12:42am
Quoting emmanuel7788
{quote} There is more to Trading made Simple than just the TDI and the Stochastics, Too much time is being spent on TDI and Stochastics, Too little time on Price Action and Support/Resistance. And no time spend on Money Management, Risk Management for entries and exits, When and How to Let Profits Run. You need to find your WINNING EDGE and the TDI is not in the winning edge equation.
Well said.
  • #89,350
  • Aug 10, 2018 1:14am Aug 10, 2018 1:14am
Missed this one. (sleeping time)
Black dot = Bounce
Angle = Below 4
Yellow = S/R level
Blue = Direction
Level = Above 32 / Below 50
Bars = Rondom size
Wicks = M15 - Long at top (sellers are coming in), H1 - Doji
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  • #89,351
  • Aug 10, 2018 1:41am Aug 10, 2018 1:41am
live trade


buy usdjpy h1 @111.002

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  • #89,352
  • Aug 10, 2018 2:10am Aug 10, 2018 2:10am
Quoting mistakesr
{quote} You'll find Iddd that if you pick the right pairs to trade each day your trading life will be a lot easier. How to choose pairs to trade on an intraday basis and on lower time frames had us scratching our heads for a long time. We knew from back testing and live trading that if we could find a pair that was trending intraday on either M5 or M15 half our job was done before we even took the first trade of the day. It was driving us nuts and it went on for nearly 18 months so we eventually went to our coder and got him to code what we call...
Nice one. .
This is really helpful.. .An edge for day trading!
Thanks for the sharing. ..
Wisdom dwells with prudence discovering the knowledge of witty inventions
D-kings lengend trades All Time Pips: 3,675
  • #89,353
  • Aug 10, 2018 2:14am Aug 10, 2018 2:14am
Quoting Tekkies
{quote} Will it make you a better trader? Post 88,265 Anyway, get get FF Admin to rectify this then you can view TE as much as you want. Been doing that since beginning of this year. {image}
LOL
  • #89,354
  • Aug 10, 2018 2:14am Aug 10, 2018 2:14am
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  • #89,355
  • Aug 10, 2018 2:21am Aug 10, 2018 2:21am
Quoting emmanuel7788
{quote} About the Stochastics Big E had started as a newbie in 2008 and he tried different 'systems' but spent more time with the Stochastics. He also took seminars by Craig Harris' Natural Flow Forex system which uses and as far as I know traders who still trading M15 London session are still using just one indicator i.e. the Stochastics. Big E had a lot of experience using Craig Harris CH Natural Flow Forex NFF System. Some of the PA stuff he mentioned is from that CH NFF system. The 'reversal' candle big or small etc. is from NFF. The angle 12-2...
Thank you. ..
That's quite honest. ..
So if am not mistaking you are saying we should get more knowledge on price action and money management ...cos That's where the true winning edge lies right?
Wisdom dwells with prudence discovering the knowledge of witty inventions
D-kings lengend trades All Time Pips: 3,675
  • #89,356
  • Aug 10, 2018 3:14am Aug 10, 2018 3:14am
Quoting amiralifx
live trade buy usdjpy h1 @111.002 {image}
exit with -30 pips
  • #89,357
  • Edited 3:38am Aug 10, 2018 3:17am | Edited 3:38am
News Trading:

☑ U.K. GDP [q/q]
Change in the inflation-adjusted value of all goods and services produced by the economy. Released quarterly, about 40 days after the quarter ends;

☛ Date: 10th August 2018, Friday
☛ Time: 04:30 PM (GMT +8)
☛ Pair: GBP/USD
☛ Sector: Economy - ★★★★★
☛ Previous data: 0.2%
☛ ForexFactory Forecast: 0.4%
☛ Reuters/Bloomberg Forecast: 0.4% (7days ago)
☛ FXV Forecast: 0.3%
☛ BUY: Actual Data is greater than Forecast
☛ BUY: Actual Data is equal to Forecast
☛ SELL: Actual Data is less than Forecast
✓ Determine or verify which release is in front of you
✓ Have two outputs today: GDP [m/m], Preliminary GDP [q/q]
✓ The Preliminary report at the end of the quarter is stronger
✓ Watch the price movements before the release as the Brits like to work out movements before the news.

In total, there are three UK GDP releases, further for the best of strength in market reaction (the first is the strongest one): Advance, Preliminary, and Final. You need to clearly understand which reportedly is in front of you at the moment. The Preliminary one is stronger. As a rule, it is prepared for release after 26 days from the end of the previous quarter and published 40 days after the end of the quarter ends.

The forecast very often deviates from the fact. The main thing that needs to be done before trading is to understand which GDP report is in front of you since there are only three releases and not every release is interested in the market.
The most important report is the Advance one at the end of the quarter. The preliminary report that will always be the most volatile. At times, the forecasts for the second and third releases will be more accurate and you may or may not trade for the second and third releases since the expansion of the GDP indicator itself will already be smaller.

⚠ Since you are trading the news... here are the other possible things usually happens minutes or seconds before and after the time of release.

1) Spread expansion.
2) Knocking out close stops, if used.
3) The high probability of slippage and signal delays from providers combined with the spread expansion can again become disastrous for stops.

Generally, if you're interested in trading around news events, please be reminded that the market may already be priced in if not it is trying to make room to move either up or down before you enter into a trade. Therefore, use your keen observation with regards to price movement together with price action/structure, hours or minutes before the actual news events. This is just one of the reason why some traders try to avoid trading the news.

☢ Trade at your own risk. I accept no liability for any financial losses or even loss of life caused by your use of this chart. ; )―


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Since Frank Sinatra sings in his own way, my chart sing... I did it, my way
  • #89,358
  • Aug 10, 2018 3:37am Aug 10, 2018 3:37am
Quoting emmanuel7788
{quote} There is more to Trading made Simple than just the TDI and the Stochastics, Too much time is being spent on TDI and Stochastics, Too little time on Price Action and Support/Resistance. And no time spend on Money Management, Risk Management for entries and exits, When and How to Let Profits Run. You need to find your WINNING EDGE and the TDI is not in the winning edge equation.
Emmanuel, why do you keep harping on to these people about the TDI and Stochastics? They are just tools, personally I don't like the TDI but use a couple of stochs but that has nothing whatsoever to do with money management, how to let profits run and winning edges. PA is not a winning edge, many will tell you that PA lags just as much as some indicators, PA doesn't tell you what the next candle is going to do, far from it. This is a game of probabilities so it doesn't really matter whether you look for candle patterns, use a TDI, a stoch or anything else, nothing is guaranteed, it's a game of trying to take high probability trades, in other words, our best guess using the tools of our choice.

S&R and MM is a different story, anyone that trades over 2% per trade in my opinion is asking for long term pain but that's just me and S&R, well that's just basic stuff and I'm sure most people here know enough about the basics of trading Forex that they are aware of the importance of support and resistance levels. I sometimes wonder what you're trying to teach people on this thread, everyone is different Emmanuel, maybe you should consider that.
Ardua Ad Astra Per
  • #89,359
  • Aug 10, 2018 3:48am Aug 10, 2018 3:48am
...It seems that GBP still getting pounded by Brexit pressure.

From rumor mills: UK PM May... may have a press conference anytime soon ; )─
Since Frank Sinatra sings in his own way, my chart sing... I did it, my way
  • #89,360
  • Aug 10, 2018 4:49am Aug 10, 2018 4:49am
Quoting mistakesr
{quote} Emmanuel, why do you keep harping on to these people about the TDI and Stochastics? They are just tools, personally I don't like the TDI but use a couple of stochs but that has nothing whatsoever to do with money management, how to let profits run and winning edges. PA is not a winning edge, many will tell you that PA lags just as much as some indicators, PA doesn't tell you what the next candle is going to do, far from it. This is a game of probabilities so it doesn't really matter whether you look for candle patterns, use a TDI, a stoch...
Went over to that thread where I think you got that indie. How Bobby use stoch is a real eye opener. Makes me wonder why BigE downgrade stoch to confirm only direction in this method. Have read only first few page and must say Bobby's method is extremely well thought out. I know what am I going to do this weekend. (Some nice couple of backtesting, what if's, wonder why Bobby posted that)
Thanks Mistake
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