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Trading Made Simple 151,872 replies

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

Indicators for the 'Trading Made Simple' system 343 replies

MTF Indicators for the 'Trading Made Simple' system 241 replies

Trading Made Simple system follower - Thanks to eelfranz 9 replies

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Trading Made Simple(r)

  • #3,041
  • Aug 15, 2019 6:40am Aug 15, 2019 6:40am
Quoting SwingMan
{quote} I do not trade, but in the analysis of your entrys I see that the chart and oscillator signals are ok. What is missing is the avoidance of sideways trends, and here in thread many experienced traders have made recommendations! You can also just use the ADX(20,20), and I've posted as help the DoubleHMA indicator (#Post 2761). You can see that the first three trades should not be done because ADX was under 20 or/and against the trend of the HMA(120). The period 120 for HMA for the timeframe H4 corresponds to the weekly trend, and W1 is for...
Maybe ADX histogram can be helpful. Green above level 20 for buy.
Attached File(s)
File Type: mq4 Advanced_ADX.mq4   2 KB | 464 downloads
  • #3,042
  • Aug 15, 2019 6:59am Aug 15, 2019 6:59am
Quoting 40PipsAlan
{quote} I see my empty wheelbarrow alongside Daves Truck
LOL
(By the way, were you watching GBPJPY?? 10 pips a day, my friend... Pip harvester already active. I don't need to harvest the whole field; I can take plenty from a small garden plot.)
To free Gazans of Hamas, use whatever it takes.
  • #3,043
  • Aug 15, 2019 7:02am Aug 15, 2019 7:02am
Quoting DrDave
{quote} LOL (By the way, were you watching GBPJPY?? 10 pips a day, my friend... Pip harvester already active. I don't need to harvest the whole field; I can take plenty from a small garden plot.)
It was clever to watch the retracement in order to enter long when it ends. Missed it.
  • #3,044
  • Aug 15, 2019 7:06am Aug 15, 2019 7:06am
Quoting josi
{quote} It was clever to watch the retracement in order to enter long when it ends. Missed it.
Clever?? Not at all. That is essential to the system. What is clever is knowing WHICH retracement to be waiting for.
To free Gazans of Hamas, use whatever it takes.
  • #3,045
  • Edited 9:27am Aug 15, 2019 7:11am | Edited 9:27am
About those trades I posted yesterday...

I have said it many times. I use lots of different entry methods, exit methods, and trading strategies.

I have a strategy that I employ sometimes where I get into a LOT of pairs (called a basket, 12-20 pairs typically) all at the same time in the direction of the trend (typically on the 4 hr. charts).

You WILL HAVE 1 of 4 OUTCOMES that will happen on every trade:

1. You will likely have some small losing trades.

2. You will likely have some break-even trades.

3. You will likely have some small winning trades.

4. You will likely have some large winning trades.

And that's what happened. I am still in 4 of those trades.

Attached Image (click to enlarge)
Click to Enlarge Name: Basket.JPG Size: 144 KB


Unfortunately, it hasn't turned out quite as good as it normally does (so far), but that's okay. The odds WILL swing back in my favor on the next basket(s) over time because I HAVE AN EDGE and that's one of the 3 main things that you really need to be successful in trading. The other 2 are a good mindset and good money management.

AND, I'll say it one more time... THIS IS THE REASON THAT I DON'T LIKE POSTING MY TRADES...because I have to explain myself IN DETAIL when I lose AND when I win. It becomes exhausting.
Always a Student, Never a Master - Emulate What Works
  • #3,046
  • Aug 15, 2019 7:14am Aug 15, 2019 7:14am
Quoting DrDave
{quote} Did you follow the rules of your system to achieve that? If you can say "yes", then there is absolutely nothing to be ashamed about having a positive balance, no matter that the win rate is so low. No need to worry about want you WANT to see versus what you see now. Do you think that when world-class weightlifters were starting out that they were lifting anything close to what they lift in major competitions today? You are not Hercules, but you can certainly build yourself up to be able to compete with him.

thx you for your words DrDave..

ya i follow the rules majority of times.. i do still enter a trade on FOMO once in the first 20 trades, n recently i risk more due to emotion, which is wrong.. lol... even if the rules changes a little after let say per 15-20 trades, i stick to it, especially the definition on how to analyse HTF which is still ambiguous...

actually the system shared here; i use a combination of SL from RH n TS, i use the trailing high or low 2bar back, if PA doesnt move, switch to TS method which is using PSAR(0.05,0.5), and if both do not shave the SL as time passes, follow RH system to exit which is a change of 3 indicators signal... i dont push back SL anymore.. lol.. Both RH n TS keep mentioning "The Best Trades Never Look Back". TP is still fixed at 2R..

for entry, majority of trades still use the initial 7 criteria strictly except at times use the variation continuation entry by RH where the hull has not changed colour yet..

by the way DrDave, i hope one day, you have a thread to share your system/thinking too taking on average 10pips per day is definitely a challenge, the psychology eg itchy finger feeling to click and enter trades is also more difficult to control, for H4, we can easily just run away from the screen or close the platform.. as well as the money management wise is different too..
  • #3,047
  • Aug 15, 2019 7:30am Aug 15, 2019 7:30am
Quoting moRTaL
{by the way DrDave, i hope one day, you have a thread to share your system/thinking too taking on average 10pips per day is definitely a challenge, the psychology eg itchy finger feeling to click and enter trades is also more difficult to control, for H4, we can easily just run away from the screen or close the platform.. as well as the money management wise is different too..
Well, I certainly look at many more charts than RobinHood. After all, he made it clear that he prefers lazy trading with easy to see indicators that he does not need to think about what to do; mostly if the signal says "GO", just do it! Then return in 4 hours, if you can.
One advantage of having a target of few pips: I typically can hit it with a single trade and be finished for the day. No need to return to check the trade.
To free Gazans of Hamas, use whatever it takes.
  • #3,048
  • Aug 15, 2019 7:49am Aug 15, 2019 7:49am
Quoting DrDave
{quote} LOL (By the way, were you watching GBPJPY?? 10 pips a day, my friend... Pip harvester already active. I don't need to harvest the whole field; I can take plenty from a small garden plot.)
missed it. Was in the garden looking for pip harvesters
  • #3,049
  • Aug 15, 2019 9:28am Aug 15, 2019 9:28am
Quoting moRTaL
...i dont know much about correlation, i only visit mataf correlation tool (free, google it..), then download the csv file then see if any currency has +/- correlation of 80% as stated by the web, then i would definitely not enter both currency, just one will do.. babypips.com, even suggested 60% is a strong correlation... so i choose my magic number 68%...
Here I have posted some indicators with correlations: https://www.forexfactory.com/showthread.php?t=662904,
and the figures are almost identical with mataf.net.

If one would like to make a trade in a pair, one can very easily check the correlations with other pairs!
Attached Image
Attached File(s)
File Type: mq4 smCorrelation MultiPairs.mq4   16 KB | 414 downloads
  • #3,050
  • Aug 15, 2019 10:55am Aug 15, 2019 10:55am
HI robin hood, is it possible to update the first post with the new indicators used to enter and update the rules. So far, i am still with the last template and i can't recognize my trades with the ones inserted in the last posts. Many thanks.
  • #3,051
  • Aug 15, 2019 11:00am Aug 15, 2019 11:00am
Quoting luca5594
HI robin hood, is it possible to update the first post with the new indicators used to enter and update the rules. So far, i am still with the last template and i can't recognize my trades with the ones inserted in the last posts. Many thanks.
I have a reason that I don't do it. I want people to LEARN the methods using each individual indicator. Then, as they progress and UNDERSTAND they will see the new indicators...IF they work their way through the thread. I don't want to spoon feed them right from the beginning.
Always a Student, Never a Master - Emulate What Works
  • #3,052
  • Aug 15, 2019 11:22am Aug 15, 2019 11:22am
Quoting RobinHood
{quote} I have a reason that I don't do it. I want people to LEARN the methods using each individual indicator. Then, as they progress and UNDERSTAND they will see the new indicators...IF they work their way through the thread. I don't want to spoon feed them right from the beginning.
Hi Robin, I share what you wrote, personally I have no problem with Mt4.
Often I compile mq4 indicators provided in this group trying to adapt them to my needs.
I have only one thing to fail to be so good with Trading.
Sometimes I understand who has problems inserting an Ex4 in the correct folder.
Sorry for my English.
A big greeting from Switzerland.
Carpe diem, quam minimum credula postero. "Orazio"
  • #3,053
  • Aug 15, 2019 12:02pm Aug 15, 2019 12:02pm
i want make a EXpert
Is this an expert forum?
  • #3,054
  • Aug 15, 2019 2:20pm Aug 15, 2019 2:20pm
So let me get this straight, as soon as the system hit a period of losing trades all of sudden isn't worth shit? Some of the guys here are still searching for the holy grail, I'm searching for a 50% edge and a decent reward to stay in the game for the long haul.
thinking outside the box
  • #3,055
  • Aug 15, 2019 2:36pm Aug 15, 2019 2:36pm
Quoting Mercennary
So let me get this straight, as soon as the system hit a period of losing trades all of sudden isn't worth shit? Some of the guys here are still searching for the holy grail, I'm searching for a 50% edge and a decent reward to stay in the game for the long haul.
I don't know if you'll ever get a 50% edge, but an edge that makes a difference is all that matters yes.
You NEVER will be the person you could be, without pressure & discipline
  • #3,056
  • Aug 15, 2019 3:19pm Aug 15, 2019 3:19pm
New "smCorrelation MultiPairs_v2" indicator

I changed a bit the Correlation Indicator because the first version was 9 years old and here I post an updated version.

Current correlations and certain groups can be easily identified, and avoid to trade correlated pairs and cumulate losses.
Attached Images
Attached File(s)
File Type: mq4 smCorrelation MultiPairs_v2.mq4   32 KB | 950 downloads
  • #3,057
  • Aug 15, 2019 3:31pm Aug 15, 2019 3:31pm
Quoting SwingMan
New "smCorrelation MultiPairs_v2" indicator I changed a bit the Correlation Indicator because the first version was 9 years old and here I post an updated version. Current correlations and certain groups can be easily identified, and avoid to trade correlated pairs and cumulate losses. {image} {image} {image} {file} {image}
Nice... now I know which code I studied before 2.5 years ago ( It was missing in my archived ). I tried to modify it to fit my personal setup only. As I learned it was based on the Pearson coefficient of correlation... similar formula used by mataf dot net on their website tools for Forex.

Thanks SwingMan!
Attached Image (click to enlarge)
Click to Enlarge Name: swingman_correlation.jpg Size: 140 KB
Since Frank Sinatra sings in his own way, my chart sing... I did it, my way
  • #3,058
  • Aug 15, 2019 3:43pm Aug 15, 2019 3:43pm
Quoting kirinda
{quote} You have very tight stop loss. Try to increase it to 2 candles before entry candle. When you increase your stop loss you can use RH's method to trail SL 2 candle back (I always trail SL until I reach break even or get stopped out). Check post 16 about this. In addition you can use daily time-frame to make sure that you following the trend: Check that most of the indicators in lower window agrees with those of 4H (in your gbpaud trade I think daily and 4H indicators wasn't on the same side of the 50 line).
thank you
I will use two candles for stoploss
I didnt knew we have to check indicators in d1 before to take entryon h4
Quoting DrDave
{quote} Analyzing losing trades is one of the best ways to learn some of the weaknesses of a system, and then see if you can find a way to improve the outcome.
thank you
thatswhy I post all trades, I dont want to post just winning
unfortunately I didnt had no win trades but maybe from now I will have
Quoting SwingMan
{quote} I do not trade, but in the analysis of your entrys I see that the chart and oscillator signals are ok. What is missing is the avoidance of sideways trends, and here in thread many experienced traders have made recommendations! You can also just use the ADX(20,20), and I've posted as help the DoubleHMA indicator (#Post 2761). You can see that the first three trades should not be done because ADX was under 20 or/and against the trend of the HMA(120). The period 120 for HMA for the timeframe H4 corresponds to the weekly trend, and W1 is for...
thank you
avoidance of sideways trends is hard part many times for me because its hard to identify, because we all see market in different way
thank you for the trend indicator
Quoting moRTaL
{quote} hi, imho, nobody has the obligation to show anyone that this method works for others nor proving it with evidence from third party... we should be thankful that at least someone share a method that works for himself, sounds logical and at least a person has benefited from this method... DrDave posts above are really good, "Then if you think the system MIGHT have merit, why don't you collect your own data and decide from your results if it is profitable for you???" you can prove it by backtesting yourself even manually,and even forward testing...
thank you
I confess I didnt looked at corelation

but maybe robinhood and emmanuel also can comment about my mistakes and how can I avoid them
they comments can also be helpful for me
  • #3,059
  • Edited 5:01pm Aug 15, 2019 4:51pm | Edited 5:01pm
Quoting SwingMan
New "smCorrelation MultiPairs_v2" indicator I changed a bit the Correlation Indicator because the first version was 9 years old and here I post an updated version. Current correlations and certain groups can be easily identified, and avoid to trade correlated pairs and cumulate losses. {image} {image} {image} {file} {image}
omg thx you so much SwingMan, sorry to trouble you... my brain is so dead not to search FF for correlation indicators... lol... oh thx you also for sharing the mq files, i certainly can learn a lot from it, really appreciate it
  • #3,060
  • Aug 15, 2019 5:13pm Aug 15, 2019 5:13pm
Quoting forexdg
{quote} thank you I will use two candles for stoploss I didnt knew we have to check indicators in d1 before to take entryon h4 {quote} thank you thatswhy I post all trades, I dont want to post just winning unfortunately I didnt had no win trades but maybe from now I will have {quote} thank you avoidance of sideways trends is hard part many times for me because its hard to identify, because we all see market in different way thank you for the trend indicator {quote} thank you I confess I didnt looked at corelation but maybe robinhood and emmanuel...
Hi forexdg

It is too easy for me to comment using hindsight analysis.

First of all, this is a 100% rules based mechanical trading method based on 7 indicators. When all the technical conditions (Post#1) are fulfilled there is a trade setup condition.
If we take every trade setup, we will end up with many wins and many losses. Only after a long cycle of thousands of trades then we will learn many things from all the wins and losses. Every trade is unique on its own, hence every trade with its outcome is a lesson for us as the trader. This is the learning journey for all TMSr traders. We learn along this journey and gain our experience to become profitable TMSr traders.

DISCIPLINE is a word that is most often overused, misused, abused, misquoted, etc.
What is discipline to you as the trader? You need to developed your own discipline.
I wrote in Post#5
I believe anyone with trading experience and have very strict discipline will make some money with your method.

Question for you:
Is taking every trade setup one of your written rule?
If NO, then what is your discretionary decision to take a trade or not to take a trade?

Is trading all currency pairs in your trading business plan?
If NO, then you need to know which currency pairs include in your business plan.

Is trading every 4 hours in your business plan?
If NO, then define your business hours i.e. your trading hours.

this can go on into a very long list ... but we all need to have our own written blueprint for trading success.

Look at my (MT5) EURUSD H4 trades taken so far this month. I have my own discretionary reasons when and where I trade yet I have losses which I have learned to accept.
Note,
I use only the common indicators - Stochastics(8,3,3) and (14,3,3) and the RSI(14), and for clarity I place the RSI below the Stoch.
The HMA and 5EMA to see the price action of the APB and HA candles.

Look at this chart below and see if you learn a few lessons from those 3 trades taken.

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD MT5 H4 trades update Aug 16 16-08-2019 05-24-37.png Size: 66 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
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