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Trading Made Simple 151,881 replies

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

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Trading Made Simple system follower - Thanks to eelfranz 9 replies

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Trading Made Simple(r)

  • #4,441
  • Nov 30, 2019 11:12pm Nov 30, 2019 11:12pm
I have just downloaded the templates and installed along with the indicators but I am missing the following indicators on the screen when loading the templates. Any idea how to fix this? -

Stochastic - 8,3,3 - SlateGray (Thinner Line), Lime, Gold
Stochastic - 14,3,3 - SlateGray (Thicker Line), Blue, Red
50 Line - BlueViolet (I refer to it as Purple)

Many thanks
  • #4,442
  • Dec 1, 2019 12:59am Dec 1, 2019 12:59am
Quoting MalvernTrust
{quote} Hello Noors, excellent post and this would encourage the traders. I am like almost you. I agree, this system is very good if we use appropriate money management. Picking the trades is easy and placing the stops would help us to prevent from the huge DD.I am very Thankful to BigEE and RH for their time and efforts. Emma is trying to help fellow traders here, I am a slow learner, just started to read couple weeks ago. Slowly trying to understand.
Hi Malvern,

Picking the trades is a very small percentage of the trade, managing the exit of the trade however is the large portion of the trade. I've been trying to figure it out, optimally. I believe it's the hardest part. Yes, RH did suggest a few exit strategies, but to find the right one that fits you is the challenge and maybe there are optimal exit strategies for the different types of market conditions. There's still a lot of information that's not handed out to us and it is for US to figure out the rest. RH has poured the concrete for us, now we have to build the frame.

I'm exercising ONLY continuation trades atm. With crossovers it's ideal to give it some room to breathe because you're taking a reversal or countertrend trade but with continuation the price should almost immediately go your way, if not prepare to cut your losses short.

One thing I've noticed H4 crossover/continuation lasts for 3 legs up/down. The probability of the 3rd leg continuation working out however is less, again depends on your strategy. If I were to take a 3rd leg continuation and I look to my left and its empty and everything looks good I might go for a 2R trade, if there is recent PA to my left or a swing high/low recently and continuation entry price is near that PA then it might be better to skip and look for a better setup or if PA tell you theres still some room to move then I might go for a 1R trade. Ideally if your taking a continuation trade you want to be in the second leg rather than the third leg. Plenty of examples, just look at your chart and pay attention to what the stochs are doing.
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Side note: I did a manual random MA crossover entry with TP at 400pips SL at 200 pips and in the last 50 trades over 4 years the W/L ratio was 50%. My point is this just proved to me that ENTRY is not as important as how you deal with the exit.
  • #4,443
  • Dec 1, 2019 5:29am Dec 1, 2019 5:29am
Quoting MalvernTrust
{quote} I beleive we need to exclude these currency pairs (AUDUSD, GBPUSD, EURUSD, USDCHF, USDJPY, USDCAD, NZDUSD) in the popular 28 list ? Just double checking. Initially I have noticed RH trades mostly on EURAUD,GBAUD and GBPJPY on 4H and USDTRY on D1 timeframe. By following this method do we have any suggested picks !I see USDMXN also a good exotic pair in the past by using this method. Any pair suggestions would be helpful. Base on my two weeks overview and random manual backtesting I prefer these pairs looks good by using H4 by comapre with...
stick with the major pairs with the lowest spreads and avoid CHF. Careful with CAD.
  • #4,444
  • Dec 1, 2019 12:20pm Dec 1, 2019 12:20pm
Quoting 40PipsAlan
{quote} stick with the major pairs with the lowest spreads and avoid CHF. Careful with CAD.
That's GOOD advice!
Always a Student, Never a Master - Emulate What Works
  • #4,445
  • Edited 1:43pm Dec 1, 2019 1:09pm | Edited 1:43pm
Quoting Noors
{quote} Hi Malvern, Picking the trades is a very small percentage of the trade, managing the exit of the trade however is the large portion of the trade. I've been trying to figure it out, optimally. I believe it's the hardest part. Yes, RH did suggest a few exit strategies, but to find the right one that fits you is the challenge and maybe there are optimal exit strategies for the different types of market conditions. There's still a lot of information that's not handed out to us and it is for US to figure out the rest. RH has poured the concrete...
Thanks Noor for your reply, let me review. But I do not want to completely deviate from the rules of this trading method.

Good catch Noor, Thanks for sharing the Charts, yeah I do recognize 3 legs pattern on continution or even croos over tades, then there is a chance of reversal if other indicators and higher time frames are going in the same direction.

For exit strategy I see Emma shared ATR based approach by using Cave Manager EA and also Emma shared couple fo Scripts int his forum, I never tried, not sure how many of us using, I beleive that would be helpful to semi automate, instead of placing a manual stop loss every hour.
  • #4,446
  • Dec 1, 2019 1:10pm Dec 1, 2019 1:10pm
Quoting 40PipsAlan
{quote} stick with the major pairs with the lowest spreads and avoid CHF. Careful with CAD.
Thank you Alan for your inputs.
  • #4,447
  • Dec 1, 2019 1:19pm Dec 1, 2019 1:19pm
I am preparing the setups for the coming week. Just trying to summarize the dashboard for 30 instruments.

Red - Sell ( 6 or 7 indicators signaling Sell )
Blue - Buy ( 6 or 7 indicators signaling Buy)
White - Not clear ( If two or more indicators not signaling the same direction then stay away)

Note : I consider buy or sell based on the current signals by checking all 7 indicators. If 6 indicators out of 7, the I prefer to buyor sell based on the higher time frame.

That would be helpful, if we have a automated Dashboard and Alert mechanism to reveiew the setup quickly.

Please share your inputs.
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  • #4,448
  • Dec 1, 2019 1:30pm Dec 1, 2019 1:30pm
Quoting Fakinsupa
I have just downloaded the templates and installed along with the indicators but I am missing the following indicators on the screen when loading the templates. Any idea how to fix this? - Stochastic - 8,3,3 - SlateGray (Thinner Line), Lime, Gold Stochastic - 14,3,3 - SlateGray (Thicker Line), Blue, Red 50 Line - BlueViolet (I refer to it as Purple) Many thanks
Check all indicators are there in the indicator folder. ( Screen Shot attached)

Refersh the Indicators on Navigator pane or just simply restart your MT4
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  • #4,449
  • Dec 1, 2019 11:08pm Dec 1, 2019 11:08pm
Quoting MalvernTrust
{quote} Thanks Noor for your reply, let me review. But I do not want to completely deviate from the rules of this trading method.
Hmm, maybe I didn't explain myself properly, sorry. I'm not suggesting you to deviate from it. I use nothing else but RH's methods, except ATR. I create my own rules and I think that is what RH wants us to do. It's good to look at things from different angles, this method that RH has shared allows us to do that.

Good luck Malvern
  • #4,450
  • Edited 3:00pm Dec 2, 2019 8:40am | Edited 3:00pm
Here's what readers here need to understand about what my intention is by teaching others some of my trading methods vs. teaching them a trading system...

If Michael Jordan taught you EXACTLY how to play basketball just like he plays, it doesn't mean that you could ever play basketball just like Michael Jordan.

However, if he taught you lots of his methods, it would DEFINITELY help you play a lot better.

That's my whole intention...to teach others how to fish, not to give them a fish.

And over the long run, which one really helps them the most?

Trading is a life long journey of learning (and adapting), not a destination.

You must learn to adapt to change because markets are constantly changing. The vast, vast majority of trading systems don't hold up very well over time, but trading methods do.

That's why you need to learn successful trading methods, and not concentrate on rule based trading systems.
Always a Student, Never a Master - Emulate What Works
  • #4,451
  • Dec 2, 2019 9:39am Dec 2, 2019 9:39am
Quoting Noors
{quote} Hmm, maybe I didn't explain myself properly, sorry. I'm not suggesting you to deviate from it. I use nothing else but RH's methods, except ATR. I create my own rules and I think that is what RH wants us to do. It's good to look at things from different angles, this method that RH has shared allows us to do that. Good luck Malvern
Totaly agreed and no worries Noors, please feel free share your suggestions, I was confused after read your side note which is not TMSR method.

Side note: I did a manual random MA crossover entry with TP at 400pips SL at 200 pips and in the last 50 trades over 4 years the W/L ratio was 50%. My point is this just proved to me that ENTRY is not as important as how you deal with the exit.

I am good now.

What ATR you are using 1.5 or 2. If we are trading on H4 do we need to consider Daily ATR or H4 ATR ?

Thanks,


  • #4,452
  • Dec 2, 2019 3:06pm Dec 2, 2019 3:06pm
Quoting MalvernTrust
{quote} Totaly agreed and no worries Noors, please feel free share your suggestions, I was confused after read your side note which is not TMSR method. Side note: I did a manual random MA crossover entry with TP at 400pips SL at 200 pips and in the last 50 trades over 4 years the W/L ratio was 50%. My point is this just proved to me that ENTRY is not as important as how you deal with the exit. I am good now. What ATR you are using 1.5 or 2. If we are trading on H4 do we need to consider Daily ATR or H4 ATR ? Thanks,
Ah I see, the side note was just an experiment that's all. I would use a 2x ATR for crossover which typically in most cases falls back to the low of 2 candle look back I've noticed. With continuation I would use 1-1.5x ATR or 1 candle look back.
Edit: I do consider the daily ATR but I will most of the time take the trade, no matter if the ATR is filled or not, I'll be aware of it and will double confirm checking weekly ATR. Daily ATR will usually get filled just before/after London session, typically I won't trade after London.
  • #4,453
  • Dec 2, 2019 4:27pm Dec 2, 2019 4:27pm
Quoting RobinHood
Here's what readers here need to understand about what my intention is by teaching others some of my trading methods vs. teaching them a trading system... If Michael Jordan taught you EXACTLY how to play basketball just like he plays, it doesn't mean that you could ever play basketball just like Michael Jordan. However, if he taught you lots of his methods, it would DEFINITELY help you play a lot better. That's my whole intention...to teach others how to fish, not to give them a fish. And over the long run, which one really helps them the most?...
Very well said RH . Remove the time and pair from a chart and it's all the same. Market conditions are like seasons. We need to know the season we're in.

I fell in love with this method almost literally, as soon as I read about it. I'm very grateful to have found RH method as it makes the most sense to me. You can use it in so many ways, it's so flexible and adaptable. Just look.

Thanks again RH!
  • #4,454
  • Dec 2, 2019 5:32pm Dec 2, 2019 5:32pm
Quoting Noors
{quote} Very well said RH . Remove the time and pair from a chart and it's all the same. Market conditions are like seasons. We need to know the season we're in. I fell in love with this method almost literally, as soon as I read about it. I'm very grateful to have found RH method as it makes the most sense to me. You can use it in so many ways, it's so flexible and adaptable. Just look. Thanks again RH!
You're Welcome!!
Always a Student, Never a Master - Emulate What Works
  • #4,455
  • Dec 2, 2019 5:50pm Dec 2, 2019 5:50pm
Hi,

what is RH method?

Havé YouTube got a link to learn about this method plz?

Thx Guy
  • #4,456
  • Dec 3, 2019 8:12am Dec 3, 2019 8:12am
I took this trade yesterday , got hit while was at work. TP had at HH 21st of October . Still all indies looks good, but I'm out!
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  • #4,457
  • Dec 3, 2019 8:18am Dec 3, 2019 8:18am
Will price go up ?
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  • #4,458
  • Dec 3, 2019 1:22pm Dec 3, 2019 1:22pm
hey everyone. Has anyone been trading this system on the daily charts with success? what kind of results have you been getting?

thanks
  • #4,459
  • Dec 3, 2019 1:37pm Dec 3, 2019 1:37pm
Quoting Bluejay12
hey everyone. Has anyone been trading this system on the daily charts with success? what kind of results have you been getting? thanks
There are great 4H signals generated this week, I missed signals on many pairs, specifically on GBPUSD, GBPCAD, EURCAD, NZDCAD,NZDUSD and much more, not sure how others are trading, probably they are trading with only few instruments and focusing on every 4H or setting up some alerts. That's difficult when we will be at work or in sleep. Better I am planning to trade on Daily charts by confirming Weekly timeframe. No statistics yet, even though SL pips are more on Daily charts if take positions with 0.5 or 1% risk based lot sizes , we should be good. I am new to this System, lets see how other traders responds.

Note : For easy backtesting I requested to build an EA here https://www.forexfactory.com/showthr...0#post12644950, no one responded yet, lets see.
  • #4,460
  • Dec 3, 2019 1:48pm Dec 3, 2019 1:48pm
Quoting NeRoNio
Hi, what is RH method? Havé YouTube got a link to learn about this method plz? Thx Guy
Trading made Simple(R) is created by Robin Hood (RH)

See more information on the first page.
https://www.forexfactory.com/showthread.php?t=917569

So Robin Hood's Method is RH method, I don't think any youtube videos are there .
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