Trading Made Simple(r) | Page 175 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

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

Attachments: Trading Made Simple(r)
Exit Attachments

Trading Made Simple(r)

  • #3,481
  • Aug 31, 2019 2:15pm Aug 31, 2019 2:15pm
Quoting 40PipsAlan
{quote} My focus is getting the RH method working for me and getting my demo account growing. I am aware of correlations but my main interest at the moment is improving my trades and minimizing the losing ones. I recently had some good 2R wins in July, August not so good, so for me the RH method is a success. The fact that the August market threw us a wobbler needs some attention, maybe the advanced techniques can help us sort this out. Anyway stay focused guys, keep it professional and try to keep personal attacks out of this thread.
i agree with this statement. its not hard to follow when the green crosses over and the stocs aligns, the problem is that it'll briefly cross over and then reverses. I am also trying to figure out a successful way to filter out those bad trades to minimize the loses.
  • #3,482
  • Aug 31, 2019 2:34pm Aug 31, 2019 2:34pm
Quoting fc3s
{quote} i agree with this statement. its not hard to follow when the green crosses over and the stocs aligns, the problem is that it'll briefly cross over and then reverses. I am also trying to figure out a successful way to filter out those bad trades to minimize the loses.
I have dropped the TMMS oscillator for now as seeing a coloured bar appear is making me push the button without me checking all of the other indi's as well.
the RSI can be jerky as well, dipping in and out of the 50 line causing bad signals.
  • #3,483
  • Edited 2:47pm Aug 31, 2019 2:35pm | Edited 2:47pm
Quoting Amateur4Ever
Thanks guys for your answers and thank you Marcusv007 for the indicator. I will use it. There still so much to learn for me. All the things you have to take into account to minimize your risk.
Youre most welcome.

If you haven't yet, get hold of 'Phantoms gift' and Trading beyond the matrix, I cant explain how great the later is, it has even helped me in my personal life. Van Tharp does some great work and is a maestro of his field.
The more you learn, the more you see
  • #3,484
  • Aug 31, 2019 3:14pm Aug 31, 2019 3:14pm
Quoting Marcusv007
{quote} Youre most welcome. If you haven't yet, get hold of 'Phantoms gift' and Trading beyond the matrix, I cant explain how great the later is, it has even helped me in my personal life. Van Tharp does some great work and is a maestro of his field.
Thanks. Downloaded them both now. I am reading Trading in the Zone at the moment. I think it’s a must-read for every (beginning) trader
  • #3,485
  • Aug 31, 2019 7:34pm Aug 31, 2019 7:34pm
Quoting Amateur4Ever
I’v read most of the pages of this thread and a question pops up for RH. But also for the other members in this thread: Do you take currency correlations into account? Maybe within your trading plan/entry rules? I didn’t see that discussed throughout this thread yet. Thanks for reply and have a great weekend all...
I do, but not too rigidly. If for example, I see 3 JPY pairs all give a signal, I will often take all 3 trades because they never all move just the same.
Always a Student, Never a Master - Emulate What Works
  • #3,486
  • Aug 31, 2019 7:40pm Aug 31, 2019 7:40pm
Quoting Amateur4Ever
{quote} I hope this doesn’t make you leave here. You gave me such great insights in forex trading with your methods and hope you will keep posting your insights and tips here
I'm not leaving. I have no reason leave. I just don't understand other people who have been given so much so freely by me taking shots at my methods when I've never done ANYTHING to deserve it. It's just rude.
Always a Student, Never a Master - Emulate What Works
  • #3,487
  • Aug 31, 2019 7:43pm Aug 31, 2019 7:43pm
Quoting fc3s
{quote} i agree with this statement. its not hard to follow when the green crosses over and the stocs aligns, the problem is that it'll briefly cross over and then reverses. I am also trying to figure out a successful way to filter out those bad trades to minimize the loses.
You, me, and every other person who has ever traded the markets. It's never going to happen.
Always a Student, Never a Master - Emulate What Works
  • #3,488
  • Aug 31, 2019 9:40pm Aug 31, 2019 9:40pm
Quoting fc3s
{quote} i agree with this statement. its not hard to follow when the green crosses over and the stocs aligns, the problem is that it'll briefly cross over and then reverses. I am also trying to figure out a successful way to filter out those bad trades to minimize the loses.

Quoting RobinHood
{quote} You, me, and every other person who has ever traded the markets. It's never going to happen.



experience is the filter we all need as traders and that experience takes a lot of completed trades and over a long period trading the markets. 3 to 5 years is a good measure how much experience one needs to develop his/her own filters.

start this new September month by looking for low risk ideas to trade when we look for TMSr trade setups.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #3,489
  • Aug 31, 2019 9:47pm Aug 31, 2019 9:47pm
Quoting Marcusv007
{quote} Youre most welcome. If you haven't yet, get hold of 'Phantoms gift' and Trading beyond the matrix, I cant explain how great the later is, it has even helped me in my personal life. Van Tharp does some great work and is a maestro of his field.
Beside Dr Van K Tharp, there are several others authors and traders on trading psychology.

Two of the well known are:

Dr Brett Steenbarger
Dr Arie Kiev

and of course there are also other authors who touch on this topics in most of their books:

Alexander Elder
Mark Douglas
Jason Williams

Trading is a game of the human psychology vs the markets.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #3,490
  • Aug 31, 2019 9:54pm Aug 31, 2019 9:54pm
Thanks for sharing of @Robin Hood and @emmanuel7788.
Really very helpful to me.
  • #3,491
  • Aug 31, 2019 10:08pm Aug 31, 2019 10:08pm
Quoting Marcusv007
@Amateur4Ever Yes it has been discussed in this thread with Emmanuel sharing his pair groups and noting he tries to avoid trading 2 or more pairs in the same group I think….. he’ll have to confirm that to be precise. It would be wise to take into account currency correlations because it is important in risk management and therefore not over-trading, it can help you avoid using your margin on less desirable assets. For your convenience: see pairs below from @Emmanuel, I've also attached an indi kindly provided by @Swingman Group#1 AUDUSD EURUSD GBPUSD...

I have now 6 groups, adding SGD as another of my group.
I trade mostly medium to long term swings meaning I hold my trades for several weeks and according to the market type conditions.
The short term correlation has nothing to do with my pair selection.
Main reason why I have the currency pair in groups is to avoid over trading. Every week, I pick only one pair from each of the group and at any one time, I can have up to 5 pairs open at the same time period. This is to manage risk in the event any of the sudden volatility is any of the base/quote currency. As my account grows, I can trade more pairs and some from the same group when there are good trade potential and I can re-invest some of my banked-in profits.

Trading Currency Pairs – Six(6) Groups 2019

Group#1
AUDUSD
EURUSD
GBPUSD
USDCAD
NZDUSD

Group#2
EURAUD
EURNZD
EURCAD
EURGBP***

Group#3
GBPAUD
GBPNZD
GBPCAD

Group#4
USDJPY
AUDJPY
EURJPY
GBPJPY
SGDJPY

Group#5
AUDCAD
AUDNZD
NZDCAD

Group#6
AUDSGD
EURSGD
GBPSGD
USDSGD
NZDSGD
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #3,492
  • Aug 31, 2019 10:19pm Aug 31, 2019 10:19pm
Quoting RobinHood
I've had multiple private messages asking me what I think about someone in another thread disparaging my methods. Here's my answer to all of you... Self-Proclaimed "PROFESSIONAL TRADERS"... 1. Don't lose 40+% of their account in less than a month. 2. Don't radically switch methods/strategies during a "losing patch". 3. Don't go off on 40 minute long public rants whining about what other traders say or do. 4. Don't blame the market for their losses. "To Give Advice Without Professional Expertise Shows Arrogant Ignorance"

Hi RH

Don't let this bother you. This happens in the Trading Made Simple thread during the OP time and after he passed away in 2012. This also happen in all other TMS and TDI related threads which are offshoots from the original Synergy trading system. .

I lived with all the name calling in the TMS thread for many years. People have all sorts of beliefs here in Forex Factory and they are entitled to their limitations.

Some0ne dislike you post and it is evidence. This same person dislike every post I make.... so let it be.
Attached Image (click to enlarge)
Click to Enlarge Name: RobiHood post 3473 01-09-2019 11-10-10.png Size: 57 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #3,493
  • Aug 31, 2019 10:33pm Aug 31, 2019 10:33pm
Quoting Barraka
{quote} Of course it is. The trades I have taken were when all the indicators were aligned (sto, rsi, hull...). Now remember, go back to post #1: "what's UNUSUAL about my templates is that there is not just one, or just two or even 10 ways to trade them". "A system has concrete rules with no variables. Methods don't." And that's why you should learn a method by demoing, to give you time to get used to it, learn the intricacies, and overall get better overtime. Don't forget it's not a mechanical system. {quote} Given the position sizes, regarding...

Hi Barraka

You have some good comments by others and while you are forward testing the method using demo account, you will learn from every trade you have completed.
Do you own evaluation after every 100 trades and you will learn by teaching yourself what you have done. When you have completed 1,000 trades you would have learned a lot about yourself as the trader. By the time you have completed 3,000 trades, you will know when you can start trading live with real money.
It will take 3 to 5 years to complete 3,000 trades and provided you do not over trade every week.
I have been through this similar phase like you in my early years trading spot forex.

Observe the market closely and pick only the best setups with low risk.

For example, last week I picked EURJPY from the 5 pairs in my group.
Below are the chart with the vertical line where the H4 candle period was when I pick the best setup.
Pay attention to the price action of the price OHLC and the APB and HA candles with respect to the HMA and 5EMA,
then look the the two Stoch(8,3,3) and (14,3,3,) and the RSI(14) ... these are common indicators used by many other traders, other methods and systems.

what do you see and why I picked EURJPY?
Attached Image (click to enlarge)
Click to Enlarge Name: AUDJPY Aug 30 H4.png Size: 54 KB


Attached Image (click to enlarge)
Click to Enlarge Name: USDJPY Aug 30 H4.png Size: 55 KB


Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPY Aug30 H4.png Size: 54 KB


Attached Image (click to enlarge)
Click to Enlarge Name: SGDJPY Aug 30 H4.png Size: 54 KB


Attached Image (click to enlarge)
Click to Enlarge Name: EURJPY Aug 30 H4.png Size: 55 KB


starting Monday next week, follow the market conditions and pick only the best setups to trade. Do not trade the average setups.

Take a hint, read RH' Post#25 and Post#361 ... there are golden nuggets from his 30 years trading experience.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #3,494
  • Aug 31, 2019 10:58pm Aug 31, 2019 10:58pm
eurjpy......sharp down price action .....hma/5ema steep cross falling down......heiken ashi solid bars bearish......stochastic (8,3,3) and 14,3,3 having high momentum downside
  • #3,495
  • Sep 1, 2019 2:36am Sep 1, 2019 2:36am
Hi Emm, I remember this post from way back. Love a good picture.

Accept the fact when we trade a mechanical method using 7 indicators some trade setups will fail.

You have some good comments by other members already, read them and learn from those comments and observations made.

Important that we understand that this method is trading with price momentum.

I just want to add how I pick the 'best setups'. I trade price action therefore I look at both the price bars and the APB/HA candles.
The 'best setups' are those when the conditions are 100% within APB/HA candles 2 to 3, maximum 3 candles for CROSSOVER setups. For CONTINUATION, it is 2 APB/HA candles.Anything more than 2 to 3 candles has more risk especially when the candle are larger than normal.

On your chart with two arrows I label them 1 and 2. Note how many candles were those setups.

There were two very good setups I marked as CROSSOVER , note the number of candles when the Stoch(8,3,3) & (14,33) crosses plus he RSI(14) cross near the 50-level. For the CONTINUATION setup note the number of candles when the two Stochs and RSI show the downward momentum.

Keep on learning. Do not give up. It will need lots of screen time and practice in live market.
Attached Image (click to enlarge)
Click to Enlarge Name: 40PipsAlan post USDCAD H4.png Size: 377 KB
  • #3,496
  • Sep 1, 2019 2:51am Sep 1, 2019 2:51am
Quoting 40PipsAlan
Hi Emm, ............. Keep on learning. Do not give up. It will need lots of screen time and practice in live market. {image}
Hey Alan - Do you realize Emm is a capable trader don't you?? His questions are rhetoric (meaning he wants the reader to think about it - not just provide an answer)....
  • #3,497
  • Sep 1, 2019 5:00am Sep 1, 2019 5:00am
Quoting emmanuel7788
{quote} I have now 6 groups, adding SGD as another of my group. I trade mostly medium to long term swings meaning I hold my trades for several weeks and according to the market type conditions. The short term correlation has nothing to do with my pair selection. Main reason why I have the currency pair in groups is to avoid over trading. Every week, I pick only one pair from each of the group and at any one time, I can have up to 5 pairs open at the same time period. This is to manage risk in the event any of the sudden volatility is any of the...
Hi Emmanuel,

Concerning your pair groupings, I see it's in order to minimize risk due to correlation.

But I do have a question. Right now for example, most of the GBP pairs are giving short possibility (GC, GJ, GS, GU); but most of those pairs are in different groups in your philosophy. Those pairs are strongly correlated and if something might pop up on the UK News it might affect all of them at once.

But if I'd follow your philosophy I could enter all 4 of the given pairs, and expose myself to a large amount of risk if they should turn against me. How do you minimize your risk on the GBP pairs?

I'm not trying to criticize you, just trying to understand

Kind regards
  • #3,498
  • Sep 1, 2019 5:03am Sep 1, 2019 5:03am
Quoting neil001
{quote} Hey Alan - Do you realize Emm is a capable trader don't you?? His questions are rhetoric (meaning he wants the reader to think about it - not just provide an answer)....
No need to be concerned about traders' perceived status/ability here - we can all improve however skilful.
  • #3,499
  • Sep 1, 2019 5:05am Sep 1, 2019 5:05am
Quoting neil001
{quote} Hey Alan - Do you realize Emm is a capable trader don't you?? His questions are rhetoric (meaning he wants the reader to think about it - not just provide an answer)....
Most defo. It’s a post from Emm from weeks ago that has stuck in my mind ever since. Sorry for the confusion.
  • #3,500
  • Sep 1, 2019 7:19am Sep 1, 2019 7:19am
Quoting emmanuel7788
{quote} Hi RH Don't let this bother you. This happens in the Trading Made Simple thread during the OP time and after he passed away in 2012. This also happen in all other TMS and TDI related threads which are offshoots from the original Synergy trading system. . I lived with all the name calling in the TMS thread for many years. People have all sorts of beliefs here in Forex Factory and they are entitled to their limitations. Some0ne dislike you post and it is evidence. This same person dislike every post I make.... ...
It's ooooooookay. Karma has already taken care of it.
Always a Student, Never a Master - Emulate What Works
12 traders viewing now, 1 is registered: