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Trading Made Simple the right way, and other trading lessons 334 replies

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Trading Made Simple(r)

  • #81
  • May 23, 2019 11:32pm May 23, 2019 11:32pm
Attached Image (click to enlarge)
Click to Enlarge Name: CADCHFDaily.png Size: 50 KB


Took a small short
Never Give up and work hard so it looks easy
  • #82
  • May 23, 2019 11:46pm May 23, 2019 11:46pm
Attached Image (click to enlarge)
Click to Enlarge Name: CADCHFDaily.png Size: 50 KB
Never Give up and work hard so it looks easy
  • #83
  • May 24, 2019 12:27am May 24, 2019 12:27am
Quoting kirinda
AUDNZD 4H crossover trade: {image} EURAUD 4H crossover trade: {image}
Lol Kirinda - ours are nearly identical!!! I was motivated by the setup on all smaller TF's - all heading South!!
Attached Image (click to enlarge)
Click to Enlarge Name: AUDNZD H4.jpg Size: 252 KB
  • #84
  • May 24, 2019 12:32am May 24, 2019 12:32am
Quoting neil001
{quote} Lol Kirinda - ours are nearly identical!!! I was motivated by the setup on all smaller TF's - all heading South!! {image}

try take the trade when the candle close with the Stochastics (14,3,3) and the RSI crosses the 50-level. ... Stochastics (8,3,3) follow too.

remember Mehdi343 Method 2
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #85
  • May 24, 2019 12:33am May 24, 2019 12:33am
Quoting neil001
{quote} Lol Kirinda - ours are nearly identical!!! I was motivated by the setup on all smaller TF's - all heading South!! {image}
LOL, thats true. I hope for my first win with this method . When I look on daily it looks like we enter at a swing point in a weak downtrend.
  • #86
  • May 24, 2019 10:04am May 24, 2019 10:04am
Quoting Blue12
{image} Took a small short
Closed it for 10 pips
Never Give up and work hard so it looks easy
  • #87
  • May 24, 2019 11:34pm May 24, 2019 11:34pm
Subscribed nice and simple
Will be back in 5years
  • #88
  • Edited 6:08am May 25, 2019 5:01am | Edited 6:08am
I want to show why I don't like using the TDI, and especially why I don't like using it the way "Big E" did. Below is the first image that he posted in his thread (Trading Made Simple) showing how he used the TDI for entries. He highlights them using blue boxes in the lower window.

Attached Image (click to enlarge)
Click to Enlarge Name: Big E's Method.PNG Size: 147 KB


I have added the TDI to my template and I have shown (below in the image) where he would have entered (using the red and green lines crossing each other) and I am showing my entries (above them in the image) using only my Crossover Trade method.

Notice that by entering trades using his way (which I would call Crossover Trades because that's what they really are), he would have most likely entered 12 times for long trades and 12 times for short trades for a total of 24 trades.

Notice that using my way, I would have entered 2 times for long trades and 3 times for short trades for a total of 5 trades.

My point is, using TDI his way, you would have gotten whipsawed to death on this chart.

Attached Image (click to enlarge)
Click to Enlarge Name: TDI vs Crossovers.PNG Size: 107 KB
Always a Student, Never a Master - Emulate What Works
  • #89
  • May 25, 2019 5:11am May 25, 2019 5:11am
Excellent - Big E was a great guy. Thanks for this.
  • #90
  • May 25, 2019 6:03am May 25, 2019 6:03am
Quoting TopCover
Excellent - Big E was a great guy. Thanks for this.
You're welcome. And yes, by all accounts he did appear to be a great guy. I really liked most of what he taught and I have read and reread what he wrote many times throughout the years.

It's just that in trading (in my opinion), subjectivity is what gets most traders into the most trouble and what I found is that it was not wise to trade every crossover of the red and green lines on the TDI as he suggested, and using the green line when it bends, flattens or arches, etc. as an exit as he suggested allowed for too much subjectivity for me and that's why I eventually quit using it.

Always remember: "The System is the Solution" and it's especially true in trading.
Always a Student, Never a Master - Emulate What Works
  • #91
  • May 25, 2019 9:45am May 25, 2019 9:45am
my Question to all

How to make this strategy to EA with Money management
  • #92
  • May 25, 2019 11:05am May 25, 2019 11:05am
Quoting RobinHood
{quote} You're welcome. And yes, by all accounts he did appear to be a great guy. I really liked most of what he taught and I have read and reread what he wrote many times throughout the years. It's just that in trading (in my opinion), subjectivity is what gets most traders into the most trouble and what I found is that it was not wise to trade every crossover of the red and green lines on the TDI as he suggested, and using the green line when it bends, flattens or arches, etc. as an exit as he suggested allowed for too much subjectivity for me...
Wow USDTRY looks amazing on Daily doesn't it? Would never have looked at it so much until I read it was one of your favourites. Thanks for your detailed notes etc - looking forward to trying your combination and template.
  • #93
  • May 26, 2019 1:38am May 26, 2019 1:38am
Quoting VerryM12
my Question to all How to make this strategy to EA with Money management
lol - why?? Trading this on a Daily TF will take 20 minutes per day - and that includes any fundamental overnight changes and news checks. Trading on H4 will take 15 minutes every 4 hours....
  • #94
  • May 27, 2019 2:05am May 27, 2019 2:05am
Quoting kirinda
AUDNZD 4H crossover trade: {image} EURAUD 4H crossover trade: {image}
Used the following method to exit the trade:
6. The HMA Line and the Yellow Line cross to the opposite direction

AUDNZD -10pips

I think the entry was according to the rules, but when I look at daily timeframe the trend is weak. This week I will check the daily before crossover trades to make sure that I have a clear trend.
  • #95
  • May 27, 2019 2:08am May 27, 2019 2:08am
Quoting RobinHood
{quote} You're welcome. And yes, by all accounts he did appear to be a great guy. I really liked most of what he taught and I have read and reread what he wrote many times throughout the years. It's just that in trading (in my opinion), subjectivity is what gets most traders into the most trouble and what I found is that it was not wise to trade every crossover of the red and green lines on the TDI as he suggested, and using the green line when it bends, flattens or arches, etc. as an exit as he suggested allowed for too much subjectivity for me...
Frankly speaking you are right Big E gave us a system and it helped many people but we could always mould it according to our needs.For eg i no longer used TDI just simple price action
Never Give up and work hard so it looks easy
  • #96
  • Edited 3:44pm May 27, 2019 6:41am | Edited 3:44pm
Quoting kirinda
{quote} Used the following method to exit the trade: 6. The HMA Line and the Yellow Line cross to the opposite direction AUDNZD -10pips I think the entry was according to the rules, but when I look at daily timeframe the trend is weak. This week I will check the daily before crossover trades to make sure that I have a clear trend.

While there is no right or wrong way to exit (based some of the ways I listed on page 1)...

Waiting to exit until the HMA Line crosses the Yellow Line will often be the last and very latest signal you could use (based on the 7 trading indicators in the template).

I prefer to exit when the first 2 or 3 indicators change colors (or cross, or be crossed) because I take that as they are signaling me to exit (and no, they won't always be right) or to move my stop loss closer.

I do it this way because I want cut my losses short and let my profits run. I don't have any problem with taking small losses, it's taking big losses that disturbs me.

Some of the ways you could use to exit are:

1. Candles change to the opposite color(s) AND the HMA Line turns the opposite color

OR

2. RSI crosses the Purple 50 Line in the opposite direction AND the HMA Line turns the opposite color

OR

3. A candle closes on the opposite side of the Yellow Line AND the HMA Line turns to the opposite color

OR

4. RSI crosses the Purple 50 Line in the opposite direction AND A candle closes on the opposite side of the Yellow Line

OR

5. One or both Stochastics cross the Purple 50 Line in the opposite direction AND RSI crosses the Purple 50 Line in the opposite direction

OR

6. One or both Stochastics cross the Purple 50 Line in the opposite direction AND a candle closes on the opposite side of the Yellow Line

OR

7. The HMA Line turns the opposite color AND the RSI crosses the Purple 50 Line in the opposite direction

OR

8. Any other combination(s) that you decide that you prefer OR use more than just one way which is what I do.


You have to remember, what I have presented are METHODS to trade...not a SYSTEM. You have to develop your own way(s) of using these methods (indicators).
Always a Student, Never a Master - Emulate What Works
  • #97
  • May 27, 2019 11:19am May 27, 2019 11:19am
Quoting RobinHood
{quote} While there is no right or wrong way to exit (based some of the ways I listed on page 1)... Waiting to exit until the HMA Line crosses the Yellow Line will often be the last and very latest signal you could use (based on the 7 trading indicators in the template). I prefer to exit when the first 2 or 3 indicators change colors (or cross, or be crossed) because I take that as they are signaling me to exit (and no, they won't always be right) or to move my stop loss closer. I do it this way because I want cut my losses short and let my profits...
You have to remember, what I have presented are METHODS to trad...not a SYSTEM. You have to develop your own way(s) of using these methods (indicators).

RobinHood, thats what I try to do. I need therefore first to decide methods for stop loss and take profit. The indicators I have to work with for a while to understand how they work and if it's possible to improve these.

Last weekend I manually backtested your method with stop loss over last swing point (the stop loss get large) and with the exit method HMA Line crosses the Yellow Line. I tested 21 forex pairs and 3 weeks back in time. The results was really good. But when I see your suggestion about the exit method based on indicator color change it looks good too. I will therefore backtest this method and compare the exit methods. With the color change exit method I can use smaller stop loss I think.
  • #98
  • May 27, 2019 3:43pm May 27, 2019 3:43pm
Quoting kirinda
{quote} You have to remember, what I have presented are METHODS to trad...not a SYSTEM. You have to develop your own way(s) of using these methods (indicators). RobinHood, thats what I try to do. I need therefore first to decide methods for stop loss and take profit. The indicators I have to work with for a while to understand how they work and if it's possible to improve these. Last weekend I manually backtested your method with stop loss over last swing point (the stop loss get large) and with the exit method HMA Line crosses the Yellow Line....
Every trader needs to learn what works best for them. Different traders have different tolerances for pain or how much profit gives them enough pleasure. After several decades of trading, my tolerance for pain has become very low and the profit side takes care of itself.

There's an old saying: "There are old traders and there are bold traders, but there are no old, bold traders"

These days, I mostly like to trade one of two ways:

1. Small stops and large profit targets but with small size

OR

2. Small stops and small profit targets but with multiple units

I really like to hear the cash register ring and so I often prefer # 2 over # 1 but I still trade both ways.
Always a Student, Never a Master - Emulate What Works
  • #99
  • May 27, 2019 5:26pm May 27, 2019 5:26pm
Quoting RobinHood
{quote} Every trader needs to learn what works best for them. Different traders have different tolerances for pain or how much profit gives them enough pleasure. After several decades of trading, my tolerance for pain has become very low and the profit side takes care of itself. There's an old saying: "There are old traders and there are bold traders, but there are no old, bold traders" These days, I mostly like to trade one of two ways: 1. Small stops and large profit targets but with small size OR 2. Small stops and small profit targets but with...

Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #100
  • May 27, 2019 5:28pm May 27, 2019 5:28pm
Quoting RobinHood
{quote} While there is no right or wrong way to exit (based some of the ways I listed on page 1)... Waiting to exit until the HMA Line crosses the Yellow Line will often be the last and very latest signal you could use (based on the 7 trading indicators in the template). I prefer to exit when the first 2 or 3 indicators change colors (or cross, or be crossed) because I take that as they are signaling me to exit (and no, they won't always be right) or to move my stop loss closer. I do it this way because I want cut my losses short and let my profits...



you missed one ...

trading with DISCIPLINE ...

Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
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