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Trading Made Simple the right way, and other trading lessons

  • #181
  • Sep 25, 2018 10:46pm Sep 25, 2018 10:46pm
Quoting beefStew
{quote} Jmn and Csethna, if i were to take these trades, i would have had bailed out too early because of the TDI hooking up, the candle getting smaller, and the stoch is hooking up too. do you think im missing something? Sorry for barraging with the questions, just wanted to post this quickly before i forget about it. {image} {image}
Try to stick with the majors. There is a reason for this. There is less erratic movement. You want smooth markets with deep liquidity.
If you are good at something, never do it for free--Joker
  • #182
  • Sep 25, 2018 11:07pm Sep 25, 2018 11:07pm
Quoting jmn5611
{quote} Try to stick with the majors. There is a reason for this. There is less erratic movement. You want smooth markets with deep liquidity.
Understood.
Here is a trade i am considering to take.

Attached Image (click to enlarge)
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the crossing is just happening now. at the beginning of this new candle. but if i wait until this new one close, then i will be entering at the candle 3. if i enter now, wouldnt there be a possibility that this cross turns out to be a not-cross like we just discussed?
Ask, and it is given. Every single time, no exceptions.
  • #183
  • Sep 25, 2018 11:25pm Sep 25, 2018 11:25pm
Quoting beefStew
{quote} Understood. Here is a trade i am considering to take. {image} the crossing is just happening now. at the beginning of this new candle. but if i wait until this new one close, then i will be entering at the candle 3. if i enter now, wouldnt there be a possibility that this cross turns out to be a not-cross like we just discussed?
You already have the answer. Can you find it?
If you are good at something, never do it for free--Joker
  • #184
  • Sep 25, 2018 11:32pm Sep 25, 2018 11:32pm
Quoting jmn5611
{quote} Yes, that is correct. Wait for the CLOSE of candle one or two.
pardon my foolishness.
i got it mixed up with another post from the pdf.
i took the trade anyway, because the TDI and stoch is steep enough and the nearest support is still +/- 120 pips away.
Ask, and it is given. Every single time, no exceptions.
  • #185
  • Sep 26, 2018 12:25am Sep 26, 2018 12:25am
Quoting beefStew
{quote} pardon my foolishness. i got it mixed up with another post from the pdf. i took the trade anyway, because the TDI and stoch is steep enough and the nearest support is still +/- 120 pips away.
Okay. It is a bad trade. Even if you win. Follow the system. If you said you did something "anyway", then you know you are breaking your own rules.
If you are good at something, never do it for free--Joker
  • #186
  • Sep 26, 2018 12:41am Sep 26, 2018 12:41am
Quoting jmn5611
{quote} Okay. It is a bad trade. Even if you win. Follow the system. If you said you did something "anyway", then you know you are breaking your own rules.
yeah, my bad. i was too rushing.
the only mistake that i know is that i entered the trade even though the candle has not closed yet thus has not confirmed the crossing. Other than that im blind from my own mistake.
can you elaborate more and point out the things that make it a bad trade?
Ask, and it is given. Every single time, no exceptions.
  • #187
  • Sep 26, 2018 12:47am Sep 26, 2018 12:47am
Quoting beefStew
{quote} yeah, my bad. i was too rushing. the only mistake that i know is that i entered the trade even though the candle has not closed yet thus has not confirmed the crossing. Other than that im blind from my own mistake. can you elaborate more and point out the things that make it a bad trade?
A bad trade is any trade you take outside of your rules.
If you are good at something, never do it for free--Joker
  • #188
  • Sep 26, 2018 2:00am Sep 26, 2018 2:00am
Quoting jmn5611
{quote} A bad trade is any trade you take outside of your rules.
Indeed. Ignoring rules (oh, just this one time) for trade entry, money management, risk, trade size. (Not to mention having bad rules, which for me is having an arbitrary TP level that could be far below where the trade could get to. That is one of peoples biggest trading rule flaws, imo.)


People equate a trade that goes negative as a 'bad trade' or 'bad timing' or 'I got in too soon'. No, if your signal was valid, then that's a good trade (or at least nothing wrong with it) and thus you don't classify it as a bad trade. It just happened to be a trade where the market had enough pressure against your position to take it out (or push it into the negative where you decided to bail). Nothing bad about it. Just wait for the next signal and see how that one works out.

I'd guess that a lot of the trading that people do are actually bad trades, as they try to rush the entry to get those extra pips, they panic and close off a good trade far too soon or they let a trade go far too negative (hoping for it to turn) and letting it get more and more out of hand.

Even what could be good trades (or excellent trades) are often culled far, far, far too soon. Taking a handful of pips doesn't buy you many cookies, nor offset the expected negative pips you're going to collect on your next few sets of trades.
  • #189
  • Sep 26, 2018 5:21am Sep 26, 2018 5:21am
This is not a chart indicator. This is best an hour after London opens. Refresh every visit.

http://www.livecharts.co.uk/currency-strength.php
  • #190
  • Sep 26, 2018 7:32am Sep 26, 2018 7:32am
Quoting Nefser
{quote} Indeed. Ignoring rules (oh, just this one time) for trade entry, money management, risk, trade size. (Not to mention having bad rules, which for me is having an arbitrary TP level that could be far below where the trade could get to. That is one of peoples biggest trading rule flaws, imo.) People equate a trade that goes negative as a 'bad trade' or 'bad timing' or 'I got in too soon'. No, if your signal was valid, then that's a good trade (or at least nothing wrong with it) and thus you don't classify it as a bad trade. It just happened...
Excellent post Nefser!
If you are good at something, never do it for free--Joker
  • #191
  • Sep 26, 2018 10:34am Sep 26, 2018 10:34am
Jmn and Tekkies,

I took this trade at the vertical line, at the candle close where the TDI crossing forms and have to bail out at the TDI's hook.
Lost 60 in this trade. Do you have any advice for this trade?

Attached Image (click to enlarge)
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Ask, and it is given. Every single time, no exceptions.
  • #192
  • Sep 26, 2018 11:15pm Sep 26, 2018 11:15pm
Quoting jmn5611
{quote} Yes. You enter at the end of candle one or two. The real time TDI will play head games with you if you sit there and stare at it. Did you see the bounce trade? Not a good one, because of the wicks. {image}

Is this MT for mobile?
  • #193
  • Sep 27, 2018 12:32am Sep 27, 2018 12:32am
Quoting celguek
{quote} Is this MT for mobile?
Celguek,
It is trade interceptor from google playstore. Very similar to tradingView.
Ask, and it is given. Every single time, no exceptions.
  • #194
  • Sep 27, 2018 12:38am Sep 27, 2018 12:38am
Quoting beefStew
Jmn and Tekkies, I took this trade at the vertical line, at the candle close where the TDI crossing forms and have to bail out at the TDI's hook. Lost 60 in this trade. Do you have any advice for this trade? {image}
Yes. Lower highs and lower lows to your left. Why are you long?

Quoting celguek
{quote} Is this MT for mobile?
I do not, nor would I advocate trying to use a cell phone to trade. Sink some money into a computer that will last a decade, and make it pay for itself.
If you are good at something, never do it for free--Joker
  • #195
  • Sep 27, 2018 2:36am Sep 27, 2018 2:36am
Quoting jmn5611
I do not, nor would I advocate trying to use a cell phone to trade. Sink some money into a computer that will last a decade, and make it pay for itself.
I already own an ultrabook but when I'm visiting my fams in other city that take long hours road, its kinda uncomfortable to open it.
  • #196
  • Sep 28, 2018 6:37am Sep 28, 2018 6:37am
I'm new to TMS, but have enough real trades under my belt to see the promise here. I'd like to share a few of my observations to date...

I'm currently trading the 8 major pairs -- H4 only...

Step #1 -- Do we have a signal?
a. Green crosses red.
b. Steep angle.
c. Direction matches with stochastic.
NOTE: 'Direction' refers to BUY | SELL (i.e. the short-term, small picture).

Step #2 -- Does the 'Direction' match with the 'Trend'?
a. Use the 5-EMA (yellow line in the main chart) to determine the overall trend.
NOTE: 'Trend' refers to BULLISH | BEARISH (i.e. the long-term, big picture).

If the Trend (BULLISH | BEARISH) matches with the Direction (BUY | SELL) of a good signal (green crosses red, steep angle), then it is a good setup.

From studying a variety of charts and my live trading, I can see the above rules really do work-out in my favor most of the time. Compared to other trading systems, this one that Big E left us truly is simple.
  • #197
  • Oct 19, 2018 1:53pm Oct 19, 2018 1:53pm
hi guys its been long since i posted here will be back next week with more charts cheers guys
thankyou gregwilson
  • #198
  • Nov 7, 2018 7:23pm Nov 7, 2018 7:23pm
Hi - I'm new to this Trading system. Is this thread still active?

Rgds
  • #199
  • Nov 8, 2018 4:31am Nov 8, 2018 4:31am
I dont think so. No notifications of posts
  • #200
  • Nov 16, 2018 8:48am Nov 16, 2018 8:48am
Quoting AkronD
Hi - I'm new to this Trading system. Is this thread still active? Rgds
Would be cool if OP and others could contribute. Just having a read through all of E's posts now as his thread is an absolute sh*t show now.
Looking to start trading with a small account with this strategy next week, looks very promising..
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