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Trading Made Simple

  • #91,181
  • Sep 25, 2018 5:28pm Sep 25, 2018 5:28pm
Quoting lddd
{quote} Yes sure i can. I am doing so anyways, but the problem i have is the following: Lets assume i am checking each of of the 8 pairs BigE was trading for H4 setups that 10 Minutes twice a day from the beginning of Frankfurt Open. I did that a for couple of times already (each time for a few weeks) every morning until NY close. However i couldnīt end up in positive pips after these "testing/learning" periods. I feel hard waiting for that perfect conditional H4 Setups during a week and therefor end up with over trading, taking less good signals...
There are people who trade dax (London open), emini dow, or emini nasdaq (nyse open) for 1hr a day and pay all their bills. They watch only one financial instrument.
If screen time/practice is the issue, waiting for 4hr charts in live conditions may take years to become consistent, you can get a decent futures platform and trade dozens of 1hr sessions from an indice of your choice at your convenience (on weekends or whenever). That sould decrease time needed to be consistently profitable.
In the end i suppose there are many ways to profit from any financial instrument, but it needs to fit our personality so we can enjoy the whole process.
I liked your question a lot and hope the answers that click with you come quick.
  • #91,182
  • Sep 25, 2018 5:33pm Sep 25, 2018 5:33pm
Quoting jmn5611
{quote} 1. Stop thinking like this is a job. It is business and revenue is not consistent in any business. 2. Develop the discipline to watch and implement this entire seminar. https://www.youtube.com/watch?v=QgaTlTfQnZI
Never thought of it as a job I will watch this tomorrow, have to find some sleep. Thanks.
  • #91,183
  • Sep 25, 2018 6:20pm Sep 25, 2018 6:20pm
Quoting eelfranz
Good Morning Everyone..... ! pigwiddeon 2065 - Proper entry would have been on candle #1. On candle #2 if you would have exited at a 12-15 pip pullback... you would have been in profit... ..
EURUSD Example of H4 Sep 25 Entry and Exit

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Read Big E posts.....
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #91,184
  • Sep 25, 2018 6:24pm Sep 25, 2018 6:24pm
Quoting Divergence
Wow really!!! when I fish it's during the time fish are biting. Early in morning or just before dark for a couple of hours. I like catching more than fishing. Bad advice jmn


some are doing it in the wrong place

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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #91,185
  • Sep 25, 2018 6:27pm Sep 25, 2018 6:27pm
Quoting bapakjason
{quote} There are people who trade dax (London open), emini dow, or emini nasdaq (nyse open) for 1hr a day and pay all their bills. They watch only one financial instrument. If screen time/practice is the issue, waiting for 4hr charts in live conditions may take years to become consistent, you can get a decent futures platform and trade dozens of 1hr sessions from an indice of your choice at your convenience (on weekends or whenever). That sould decrease time needed to be consistently profitable. In the end i suppose there are many ways to profit...

quite true but 99.999% can't do that.

what shall this 99.999% people do?
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #91,186
  • Sep 25, 2018 6:34pm Sep 25, 2018 6:34pm
Ah learn how the market works
  • #91,187
  • Edited 7:09pm Sep 25, 2018 6:48pm | Edited 7:09pm
Quoting bapakjason
{quote} There are people who trade dax (London open), emini dow, or emini nasdaq (nyse open) for 1hr a day and pay all their bills. They watch only one financial instrument. If screen time/practice is the issue, waiting for 4hr charts in live conditions may take years to become consistent, you can get a decent futures platform and trade dozens of 1hr sessions from an indice of your choice at your convenience (on weekends or whenever). That sould decrease time needed to be consistently profitable. In the end i suppose there are many ways to profit...
Whats the advantage by watching only one financial instrument in a future derivative area like trading the dax for 1hr/day instead trading EUR/USD for 1hr/day. Looks pretty much the same to be from a day trading perspective.

Its the same decision you have to find. Didnīt know trading the dax is more pretictable than spot fx. If you answer is the lack of transparency and trading futures means no conflict of interest i have to say trading with a reliable non dealing desk forex broker you shouldnīt have a problem here as well. At least i never had one problem with it.

The only question to me right now is finding a real trading plan, so actually making the TMS strategy to fit my situation day in day out + achieve a constant profit by the end of the month. Like said a couple of times i donīt need to make a few thousand pips each week.

Trading the H4 gives less trading opportunities which means less learning how to enter/exit a trade according to the rules. I have no problem with that at all but like you said it would require probably some years to see constant success here because you simply not able to learn that much by 90% slow moving, mostly ranging currency pairs you end up in taking 1-2 of these good H4 setups you will find within a month or so under live market conditions.

So it seems the only option i have is trading a quicker time frame and somehow learn/get around the problematic of over trading + finding a way to get less false signals on a M15 to H1 period. I asked a couple of times here earlier if there is a technical way to filter out TDI cross signals where you would get a M15 alert where already most of the crap is filtered out by default

With most of the crap filtered out by default i mean: Automatic trading alerts on TDI M15/H1 setups only if:

- Market condition = ✔ (not sure but maybe there is a programmtically way to tell the TDI alert not to ring the alarm if that market is going sideways/ranging) -
- No News = ✔ (most EAs do have such filter i think) -
- No small candles = ✔ (if the rules saying donīt enter trades where candles are small, i guess there must be some programmaticaly way to tell the TDI alert not to ring the alarm under such conditions
- The TDI green angle is 12-12 for a BUY alert, 4-6 for SELL. ✔ (Considering the fact this is a key factor to trade this strategy profitable i see no reason why we should not filter for them out by default if this helps to reduce bad entries)
- Price not at overbought/oversold area TDI 32, 68 ✔ (i think some of the existing TDI Alerts already can do that)
- Longer term trend for time frame i want to trade is in the same direction ✔ (so if i set TDI Alert for M15 a BUY alert should only be triggered if H4, D1, W1 is uptrending too.
- Does Stoch confirm the TDI Signal ✔

So actually all the basic 4x things BigE mentioned to take care of trading this strategy filtered out as much as possible by default for the TDI Alert.

Now i donīt know much about coding for charting software like MT4, never did anything here. But i am pretty much sure with experience from my technical background this should be not a big deal to put all this together into stable code.

If itīs just an alert i can set up on each chart or only one chart filtering all that "crap" out by default. So if i come to the screens 90% of the my headache is already erased. Also it would highly reduce the risk of interpreting most of these "basics" wrong. Human fail here by nature, this is proven over and over in history.

So again, it doesnīt has to be an automated trading EA... I understand the fact that some parts of technical analyses and external influences like a changing market condition or some unannounced Draghi speech canīt be calculated. Considering such "program" "indicator" or what you want to call it is doing all the things mentioned here correctly it would be only one little step further to let it press the BUY/SELL button too for you. For sure this requires the fact the TMS rules are working at all...

There you go, if anyone can do that for me, please hit me up and send me your offer.
  • #91,188
  • Sep 25, 2018 6:51pm Sep 25, 2018 6:51pm
Quoting lddd
AUD/CHF H4 trade closed manually. Nothing special, could have booked 10 pips + now i have collected a -12. Btw, what about candle sizes here? I am confused about what BigE means with small candles vs big candles. When i look through my H4 charts for different pairs if you would have entered after a BIG H4 candle all the move up or down would be almost consumed by that one big candle. So what to do here? {image}

Big Round Number price attract PA like a magnet... why? That's where many orders are and they do get filled.

My 5 years historical test data for this pairs shows win rate of less that 45% for both buy and sell trade on H4.

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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #91,189
  • Sep 25, 2018 6:57pm Sep 25, 2018 6:57pm
Quoting ldd
from my technical background this should be not big deal at all to bring this into stable code.
Sorry, ldd -- not to discourage you, but you have no clue what's involved...
  • #91,190
  • Sep 25, 2018 6:59pm Sep 25, 2018 6:59pm
Quoting Divergence
Here's the 2 big fish I caught this morning https://youtu.be/JyClAEaC8Tk

Another good video on how you trade...

This reminds me of a trader name Bill Poulos whom I bought a 5-minute scalping system back in 2000. I spent one year trying to scalp the 5-minute charts but did not have the temperament for that fast lane trading.

I'll keep watching your video recordings and develop from there all over a again.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #91,191
  • Sep 25, 2018 7:10pm Sep 25, 2018 7:10pm
5 minute charts that like long term for me lol I trade 30 second chart and since I trade pullbacks I have plenty of time
  • #91,192
  • Sep 25, 2018 7:13pm Sep 25, 2018 7:13pm
Quoting robots4me
{quote}
Coming from the world of algorithmic trading (i.e. portfolio EAs) I see two options:
1. Lower TF ==> many trades, using small lot sizes
2. Higher TF ==> fewer trades, using larger lot sizes
Robot
That is wrong. Higher TF does no justify larger lot sizes. The entry on lower TF is the same entry on higher TF, market can anytime change direction. How many time can D1 change direction in 24 hours. You put in a large order in before you go to work, 2 hours later the market change direction while you at work. You come home 6 hours later to a nasty surprise.
No matter what timeframe you trade stay inside that 2% money management. Do agree with point one.
  • #91,193
  • Sep 25, 2018 7:16pm Sep 25, 2018 7:16pm
Quoting robots4me
{quote} Sorry, ldd -- not to discourage you, but you have no clue what's involved...
Well, what of the things i wrote down in your opinion are not possible to be solved, and why? You know, just because you maybe not able to do that dosnīt mean somebody else canīt do. Sorry, not to discourage you
  • #91,194
  • Sep 25, 2018 7:39pm Sep 25, 2018 7:39pm
First thing, stop looking for the technical holy grail. There is none. No amount of filters will help towards the technical holy grail

Learn the rules of the game, master those rules first and when you have mastered those rules, you will know when to break them and you will play the game better than other people.

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.

Did Einstein really said this below?

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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #91,195
  • Sep 25, 2018 7:44pm Sep 25, 2018 7:44pm
Quoting lddd
{quote} Well, what of the things i wrote down in your opinion are not possible to be solved, and why? You know, just because you maybe not able to do that dosnīt mean somebody else canīt do. Sorry, not to discourage you
I can code a little bit. Enough to know it would easier just to set my alarm clock.
If you are good at something, never do it for free--Joker
  • #91,196
  • Edited 8:05pm Sep 25, 2018 7:44pm | Edited 8:05pm
Quoting lddd
{quote} Well, what of the things i wrote down in your opinion are not possible to be solved, and why? You know, just because you maybe not able to do that dosnīt mean somebody else canīt do. Sorry, not to discourage you
1 - Consolidation is programmable difficult to code, have not found any mq4 code that could detect consolidation.
2 - News. FFC indie does that already use iCustom
3 - You have already mention you don't understand what BigE's small candle means. Now try and code that "small" or 'big' candle.
4 - Angle, there are about 3 expert's in FF that does that already
5 - Level same as 4
6 - Stoch same as 4
You left out
7 - Short and long term trend
8 - S/R zone
9 - 5EMA
10 - What about exit: green goes flat, check mark, hook over.
11 - Trading hours: To use BigE's hours or not

You complain about false signals, (the human brain is the best programed expert ever made). How do you code that with mq4 to avoid false signals

Emmanuels showed you already what is the problem with TDI crossover and why you get the alert always late. The alert is send when the bar closed on which the crossover occurred. The blue dot is the right entry point. Alert is send at top yellow line.
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  • #91,197
  • Sep 25, 2018 7:49pm Sep 25, 2018 7:49pm
Quoting robots4me
{quote} .... One of the "problems" with TMS is it is seductively simple -- "green crosses red". So us newbies get sucked into hoping that every signal (i.e. "green crosses red") is a chance to trade. We look for ways to justify it because we want it. .....
It is not one of the "problems". There are many more such seductive "problems" with Trading Made Simple.

Trading Made Simple is not a trading system. It is about the journey of a trader name Eric Franz aka eelfranz whom many fondly call him Big E. His journey started in 2008 like all of most people as newbies. His journey took him from buying and trading one commercial system to another. He took elements from those commercial systems he traded with and blended them into his own trading methodology what he named as the 5-Method which leads us to his new thread Trading Made System.

It is a story like in this book by Rob Booker "The Adventures of a Currency Trader"... a recommended read.

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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #91,198
  • Sep 25, 2018 8:06pm Sep 25, 2018 8:06pm
Quoting lddd
just because you maybe not able to do that dosnīt mean somebody else canīt do
According to Mensa's standards, less than 2% of the population can be considered geniuses (https://www.cliffsnotes.com/cliffsno...dered-geniuses). However, reading many of the posts here that percent should be much higher -- at least in the minds of the posters.

Quoting lddd
from my technical background this should be not a big deal to put all this together into stable code
A wise man once said "you don't know what you don't know". Obviously, that doesn't apply here. I guess that's because you've proven yourself an adept forex trader. And, out of curiosity, what exactly is that technical background you possess that would make software development "no big deal"?

For someone who doesn't have a clue as to the difference between a compiler, linker, IDE, API or linked list, you might consider taking to heart "you don't know what you don't know". But, of course, that's something certain minds would never contemplate.

Here's an observation -- for free. This thread has been active for how long? About 7 years? There are how many posts? Over 90,000? How many people posting? Hundreds, thousands? Do you really think you are the first one to consider coding TMS as an expert advisor? I mean you might be, but I doubt it. In fact, just a few posts back RickM told you of his experience, but I guess that didn't sink in. Or, it could be that even though thousands of smart people have gone before you, they are not as smart as you -- hence, you have no hesitation in stating such a task would be easy for you.

I wish you luck. When you have the "stable code" completed next week I would like to volunteer as one of your first beta testers. In fact -- take two weeks -- just in case it takes a bit longer than you initially anticipated.

Honestly -- I don't know where some of you people come from. I think I got dropped-off on the wrong planet...
  • #91,199
  • Sep 25, 2018 8:09pm Sep 25, 2018 8:09pm
Quoting Tekkies
{quote} 1 - Consolidation is programmable difficult to code, have not found any mq4 code that could detect consolidation. 2 - News. FFC indie does that already use iCustom 3 - You have already mention you don't understand what BigE's small candle means. Now try and code that "small" or 'big' candle. 4 - Angle, there are about 3 expert's in FF that does that already 5 - Level same as 4 6 - Stoch same as 4 You left out 7 - Short and long term trend 8 - S/R zone 9 - 5EMA Emmanuels showed you already what is the problem with TDI crossover and why you...

There are many different solutions.

First, remember that Big E bought the Synergy system from CompassFX and he removed some of the elements from that system because he wanted something simple.

He removed the "yellow brick road" also known as the Price Action Channel the 5-period Smoothed Moving Average High-Low channel.
The PACis one simple way to look at the price action and see when it is trading within a narrow range. This PAC works in all timeframes.

When trading H4, one simple thing to check on the weekend is whether the W1 is trending outside the PAC of trading inside the PA in narrow range.
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I posted USDJPY on the weekend and below is an update how UJ traded the past 2 days.

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Today NY session is FOMC, if you are afraid to buy because resistance is above where current PA is, then simple decision is stand aside and watch the action and enjoy the show.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #91,200
  • Sep 25, 2018 8:15pm Sep 25, 2018 8:15pm
Quoting Tekkies
{quote} 1 - Consolidation is programmable difficult to code, have not found any mq4 code that could detect consolidation. 2 - News. FFC indie does that already use iCustom 3 - You have already mention you don't understand what BigE's small candle means. Now try and code that "small" 4 - Angle, there are about 3 expert's in FF that does that already 5 - Level same as 4 6 - Stoch same as 4 Emmanuels showed you already what is the problem with TDI crossover and why you get the alert always late. The alert is send when the bar closed on which the crossover...
Yes Tekkies. But i would like to have only 1 Alert indicator doing the things mentioned all together.

I missed the fact Emmanuel already showed this to me. Probably because he posts so much a day i simply overlooked Well, i tested some of the TDI Alert indicators should send the alert by the open of the crossing candle not the close. But i will loook at this tomorrow again.

Regarding candle sizes. Yes i really donīt understand what determines to be "good" candle sizes around a possible TDI setup vs "bad/small" candle sizes here.

Can you not simply determine a "market condition" by candle sizes? Its the same or? So why its not possible to let the indicator count the size of the last X candles on a chart?

In my understanding ranging/consolidating/sideway markets that way could be easily detected by counting the last X candles, calculate the size of each, calculate an average number for them and consider this as consolidation or trending market condition depending on this average value. If it detects the last X candles to be BIG on average you have a trending market, if it detects to be the last X candles to be SMALL you have a consolidation market.
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