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Trading Made Simple 151,886 replies

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

Indicators for the 'Trading Made Simple' system 343 replies

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Trading Made Simple(r)

  • #681
  • Jun 27, 2019 10:31am Jun 27, 2019 10:31am
Quoting kirinda
{quote} Exit with 57 pips in profit {image}
Excellent!
Always a Student, Never a Master - Emulate What Works
  • #682
  • Jun 27, 2019 10:40am Jun 27, 2019 10:40am
Entry from M5 short on H4
Attached Image (click to enlarge)
Click to Enlarge Name: GBPCHF.proH4.png Size: 74 KB
  • #683
  • Jun 27, 2019 10:42am Jun 27, 2019 10:42am
I just shorted the GBPAUD on the 4 hr. chart. It's a Continuation Trade

Even though I got the signal over 30 minutes ago, I dropped down to the 5 minute chart to fine tune my entry.

I waited for a "clean break" below the lower trend line, meaning a 5 min. bar opening and closing below it.

Attached Image (click to enlarge)
Click to Enlarge Name: GA Chart.PNG Size: 90 KB
Always a Student, Never a Master - Emulate What Works
  • #684
  • Jun 27, 2019 10:44am Jun 27, 2019 10:44am
Quoting gj7rwt
{quote} The method would still enable some green pips to be won but it's most probably better to think of all those flat trades as laying down the bait to catch the big fish as you would have done on the next trade (the large swing upwards). You most certainly would have bagged a good haul of green pips there. Cheers Andy
Yeah, but let's say in such flats you lose ~ 5 Risks. And it's really a lot, cuz you can have falt also at another pairs.
  • #685
  • Jun 27, 2019 10:49am Jun 27, 2019 10:49am
I begin to like this method.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPAUDH4.png Size: 84 KB
  • #686
  • Jun 27, 2019 10:53am Jun 27, 2019 10:53am
Quoting Rob_Trader
I begin to like this method. {image}
Good. What do the blue boxes represent?
Always a Student, Never a Master - Emulate What Works
  • #687
  • Jun 27, 2019 10:55am Jun 27, 2019 10:55am
Quoting RobinHood
{quote}What do the blue boxes represent?
Asian Session.
  • #688
  • Jun 27, 2019 11:56am Jun 27, 2019 11:56am
GU starting to move down, helping the cause. All GBP pairs are weak on all timeframes up to weeklies.
  • #689
  • Jun 27, 2019 12:19pm Jun 27, 2019 12:19pm
Quoting RobinHood
{quote} I'll trade any pair that moves well. I don't care what the pair is. But my favorite pairs are the AJ, EJ, & GJ.
How do you decide a pair is not moving „well“? I guess you mean to avoid certain market conditions. Could you be so kind and post some example charts to visualize which situations you exactly mean here and how you look at those charts from left to right.
This has been always a hard task to me and i still feel insecure what to do here. Also the fact that market condition can change at any time doesn’t makes it easier for me.

I already had lots of trouble here with this on the TMS/TDI „System“ which i traded so far for M15-H1 charts.

Thanks also for your other questions answered.

best regards
  • #690
  • Edited 1:55pm Jun 27, 2019 12:51pm | Edited 1:55pm
Quoting lddd
{quote} How do you decide a pair is not moving „well“? I guess you mean to avoid certain market conditions. Could you be so kind and post some example charts to visualize which situations you exactly mean here and how you look at those charts from left to right. This has been always a hard task to me and i still feel insecure what to do here. Also the fact that market condition can change at any time doesn’t makes it easier for me. I already had lots of trouble here with this on the TMS/TDI „System“ which i traded so far for M15-H1 charts. Thanks...
Posting charts would not prove that a market moves fast because it's a still picture.

Learning what pairs really move comes from watching the Forex pairs for a long time. It's like if you are standing on the side of the road and a car passes you. You just know from experience whether it moved past you fast or not.

OTHERWISE...

You can put install an indicator called ADR (Average Daily Range) on each chart and it will tell you the average range that a pair moves in a day in pips. Pairs that move a lot have large daily ranges, pairs that do not have small daily ranges.

Here's the indicator:

Attached File(s)
File Type: mq4 ADR.mq4   18 KB | 606 downloads


Attached File(s)
File Type: ex4 ADR.ex4   23 KB | 491 downloads
Always a Student, Never a Master - Emulate What Works
  • #691
  • Jun 27, 2019 3:10pm Jun 27, 2019 3:10pm
Quoting RobinHood
{quote} Posting charts would not prove that a market moves fast because it's a still picture. Learning what pairs really move comes from watching the Forex pairs for a long time. It's like if you are standing on the side of the road and a car passes you. You just know from experience whether it moved past you fast or not. OTHERWISE... You can put install an indicator called ADR (Average Daily Range) on each chart and it will tell you the average range that a pair moves in a day in pips. Pairs that move a lot have large daily ranges, pairs that do...
Thanks. Well, from my experience so far nearly all forex pairs nowadays tend to range, move sideways quiet slow for about most of the time. Thats were i had lots of trouble with like said either hitting my targets or not getting into a trade where it just starts another side says period.

I guess this is a real problem for trading a trend mythology approach, isn’t it? So selecting the right markets to trade seems to be essentially important especially if you don’t want to hold positions over several day or weeks to make a few pips.

I know there might be no general way of how to handle this but maybe some experienced trader like you or anyone else here could give some suggestions to me what to look out for.

I also think it’s important to focus on just one market to get a feeling for the rhythm of price action which would lead me to the next questions. Is trading just one forex pair here enough to end up positive for let’s say +50 pips on average per trading week. I mean will there be enough setup here following your method on the H4/Daily even though low volatile times?

I am located in the EU and my main active trading time would be from London open including the first 2-3 hours of the NY session perhaps.

I am not looking for massive amounts of pips, only single entry/exit trades at a 1:2 or 1:3 risk reward ratio would be fine. So maybe trading the M15 or even lower for watching one chart here following your method could be enough to realize my goals, what is your experience here?

I am just not sure how many „false“ signals the indicators here tend to produce, if it would be only 50/50 i guess it would become pretty hard to stay consistently profitable like that over the year by having to filter out tons of bad signals like i struggle with the TMS and TDI already on.

Sorry for so many questions, I am just highly interested in improving my trading and your method for entry/exit seem to be „easy“ and less
confusing here just not sure how to deal with everything else but will give it a forward test soon (I am currently traveling).

Regards again.
  • #692
  • Jun 27, 2019 6:08pm Jun 27, 2019 6:08pm
Quoting Luttlebird
After a long day of practice. Can we now say that we can put some money into this... {image}

yes, we can definitely put more money into it and implement a %Risk model and use Position Sizing.

then work on a proper trade management to follow an exit strategy to help in increasing your system Expectancy.

avoid trading with fixed lot size for every trade... it will be a struggle to grow an account. .. every pair has different volatility in different periods
if you trade GBPJPY and GBPNZD for example, a 0.01 lot trade can led to a lot of damage trading with small stop loss.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #693
  • Jun 27, 2019 6:21pm Jun 27, 2019 6:21pm
Quoting kirinda
{quote} Exit with 57 pips in profit {image}

one of the best trades I seen posted this week...

good entry with good exit.

very nice breakout after a period of consolidation .

well done.

people should save his chart and learn from it and look for similar kind of market conditions and take trades every week... work in all timeframes from M15, H1, H4 to D1.
Attached Image (click to enlarge)
Click to Enlarge Name: kirinda AJ H4 28-06-2019 09-20-21.png Size: 190 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #694
  • Jun 27, 2019 7:14pm Jun 27, 2019 7:14pm
Stop reduced from 65 pips to a couple of pips over the third candle back.
The trade manager will take 2/3 of the position off at 65 pips (just above the yellow BRN line) and leave a runner at BE if it gets there. TP is about 400 pips away hehe.

If it can break this swing bottom and GU can do the same, chances will be good.

We have the G20 meeting, with possible announcements, and GU red news coming while I sleep. I think it's the G20 that's putting everything to sleep, especially the China/US trade issues.

Good night.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPCHF.proH4.png Size: 71 KB
  • #695
  • Jun 27, 2019 9:02pm Jun 27, 2019 9:02pm
Quoting badgeek
this is my setup, i have symbol changer that able to sync all chart, so i can go to any symbol with 3 timeframe (H1, H4, daily) at once {image}
Hi badgeek,
Are you able to say where you got your symbol changer from. I like to have three charts open as well and it would save so much time and trouble if they were synced.
Love to know where you got it from?
Thanks.
  • #696
  • Jun 28, 2019 1:30am Jun 28, 2019 1:30am
So I've just finished trading for the week using this method for the first time (no trades today due to G20 meeting where anything could happen knowing Trump!) and I've come out with 54 green pips which is good result considering I missed many of the continuation trades that could have been entered due to my hesitation over the o/b and o/s stochastic levels. Now that i know just to treat the stochastics as an indication for over or below the 50 level, I should be able to enter more continuation trades next week.

Good luck everyone and see you next week.

Cheers
Andy
  • #697
  • Jun 28, 2019 3:13am Jun 28, 2019 3:13am
Went LONG on Gold as per rules- looking like a loser. Lol third losing trade of the week amongst winners. Average method/system at best.

Good on you guys who are knocking down pips- keep it up.

Roni
Attached Image (click to enlarge)
Click to Enlarge Name: Capture.PNG Size: 45 KB
  • #698
  • Jun 28, 2019 3:19am Jun 28, 2019 3:19am
Quoting Roni26
Went LONG on Gold as per rules- looking like a loser. Lol third losing trade of the week amongst winners. Average method/system at best. Good on you guys who are knocking down pips- keep it up. Roni {image}
Be Humble and see if you did a mistake when you entered that trade ask maybe it was not riht or you could have manage it better or maye you just have a strike of bad luck.

Best regards
  • #699
  • Jun 28, 2019 3:35am Jun 28, 2019 3:35am
"Herne" (Big E) protect us...we are following RobinHood...
Thank you for this great method.
  • #700
  • Jun 28, 2019 4:13am Jun 28, 2019 4:13am
Someone in a private message asked me to take a look at another type of HA candle that we may could incorporate into the template. Since I can't post the image in a private message, I told them that I would post it here.

Attached Image (click to enlarge)
Click to Enlarge Name: HA Comparison.PNG Size: 83 KB
Always a Student, Never a Master - Emulate What Works
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