Trading Made Simple | Page 5635 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Monitor for 'Trading Made Simple' system 565 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
Exit Attachments

Trading Made Simple

  • #112,681
  • Dec 8, 2020 9:31pm Dec 8, 2020 9:31pm
Quoting Tekkies
{quote} . ---- Don't forget to link a TE to the charts your posts in forexfactory for public viewing.
Don't forget to link a TE to the charts your posts in forexfactory for public viewing.


@Tekkies

We follow the OP Big E example { here }

"The money I put into my last trading account ($10,000) I don't even think about it. It's like the money you take to Las Vegas. You hope to win but don't often... Your taking money for entertainment and relaxation... So I don't give it a second thought... It's entertainment money as I said... Besides It always grows larger..."


I am waiting for you Tekkies to confirm these 1), 2), 3) and 4) below.

Now, again I ask you:

1) How about effective start date Jan 01, 2021?

2) And include your buddy DrDave.

3) Same deposit USD 10,000 standard account 1:25 leverage.

4) ****Please post your other conditions for all to see.****
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #112,682
  • Dec 8, 2020 9:40pm Dec 8, 2020 9:40pm
Quoting emmanuel7788
{quote} TMS Chart template according to the OP. {image}
Ok if you say so.
Attached Image
A nice TMS chart according to the OP of this thread.
Cut the crap Emmanuel.
  • #112,683
  • Dec 8, 2020 9:42pm Dec 8, 2020 9:42pm
Emmanuel putting up TE shouldnt be much of an issue for you,most likely even if it isnt that much of a grow you are probably profitable, even if you are not there is always room for improvement and ideas, thats one of the reasons i roll around in here. Even if you are red, it should only affect you because people shaming your bad performance or whatsoever would be just egotastical and a bad manner in my eyes, rather than trying to help eachother. You might have the privacy conduct to not share your winning system yes but you are already trying to show you pick trades and how to trade, so it does not correlate much in that manner.
  • #112,684
  • Dec 8, 2020 9:48pm Dec 8, 2020 9:48pm
Quoting Tekkies
{quote} Ok if you say so. {image}A nice TMS chart according to the OP of this thread. Cut the crap Emmanuel.

@Tekkies

You do not have the skills of a chartist trader. It will take you another 6,000 to 10,000 hours if you re-start all over again today. You will get there on day.

You need to develop that 'third eye' to see both the trees and the forest.

And you do not need all the 19 templates the OP had during his time. I only look at one chart one template, no need to change chart timeframes which will cause the TDI to repaint, I look at the chart HA candle and it 5EMA and the higher timeframe candles in background just using the on/off button. I know the TIMING on M15 when the H1 close, H4 close, etc.

Stay Tuned!
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #112,685
  • Dec 8, 2020 10:00pm Dec 8, 2020 10:00pm
Quoting PixelSniper
{quote} It feels like mining, you just pick the direction as much as you can and compound profits, might require a lot of scalps or trades, not sure.
Your conclusion is right Sniper.
-----
DrDave gave the advice to aim for 10 pips a day. That helped a lot.
Now the aim is 10 pips a trade, forgetting or ignoring to try and aim for home runs (nice long entry's that run 3 / 4 / 7 / 5 candles).
Get in, get out, protect account against losses
When possible move to BE plus spread and then that price take entry for that home run.
If not, wait for next TDI setup.

Look where is price now since last crossover.
Missed the bus the first time, now it is to late because H1 has already run more then 3 bar's
#6....... If it's candle 3 or more don't enter... find another trade set up.
----
Yes, sure you can enter now with M15 crossover's. but it is not my trading hours (Frankfurt Open to NY Open + two hours)
- M15 TDI green is touching 68 level, not worth the risk anyway
- Will wait for sell TDI setup on M15 with H1 confirming that setup)
Attached Image (click to enlarge)
Click to Enlarge Name: lookaswew.PNG Size: 57 KB
  • #112,686
  • Dec 8, 2020 10:12pm Dec 8, 2020 10:12pm
Quoting Tekkies
{quote}Now the aim is 10 pips a trade, forgetting or ignoring to try and aim for home runs Get in, get out, protect account against losses If not, wait for next TDI setup. Look where is price now since last crossover. Missed the bus the first time, now it is to late because H1 has already run more then 3 bar's #6....... If it's candle 3 or more don't enter... find another trade set up. {image}
Yeah i go with a similiar approach, i didin't even take many winning trades with the test acc i have right now, but i don't rush,always believed in trading should be fun and exiciting so i wait for the setups, it's quite relaxative to know that there will be many other easy setups in the future, so yeah. And yeah preservation of capital comes 1st..
  • #112,687
  • Dec 8, 2020 10:31pm Dec 8, 2020 10:31pm
Quoting PixelSniper
{quote}exciting
the lure of forex?
----
That addiction to dopamine is the downfall of many traders.
--- what a wonderful feeling to see them profit's roll in.
--- the agony of defeat with margin call.
  • #112,688
  • Dec 8, 2020 10:38pm Dec 8, 2020 10:38pm
Quoting Tekkies
{quote} the lure of forex? ---- That addiction to dopamine is the downfall of many traders. --- what a wonderful feeling to see them profit's roll in. --- the agony of defeat with margin call.
Nah, i see it as a hobby.
I've been wealthy for 5-6 months before i spent my money on bad things such as little cute girls and all the bad stuff you can imagine.
Rented villa with a pool, partied a lot etc. x)
Well still young so, even if i were wealthy again i'd continue to trade as a matter of fun.
Profits & growth sure matters but, i'm on a really different aspect, trust me the moving candles, all these strategies, the famous traders, it's just my thing.
  • #112,689
  • Dec 8, 2020 10:48pm Dec 8, 2020 10:48pm
Quoting PixelSniper
{quote}bad things such as little cute girls and all the bad stuff you can imagine. Rented villa with a pool, partied a lot etc. x
Come on nothing wrong with the perks of forex!!!
At least try and own that villa before the red stuff.
  • #112,690
  • Dec 8, 2020 10:49pm Dec 8, 2020 10:49pm
Quoting Tekkies
{quote} come on nothing wrong with the perks of forex!!! --- Try and own that villa.
That's the new aim, yup haha.
If i were born rich, i'd be damned and miss all this fun.
  • #112,691
  • Dec 8, 2020 10:57pm Dec 8, 2020 10:57pm
Hi Guys,

Interesting thread.

Ok I know that when you enter in trade you put the stop loss from the LL if long or HH short of 2 or 3 candles before entries.

What about taking profits ? When you guys know when to take profits ?

Green pips to you all!

Lara
  • #112,692
  • Edited 11:40pm Dec 8, 2020 11:14pm | Edited 11:40pm
Quoting laraparker
Hi Guys, Interesting thread. Ok I know that when you enter in trade you put the stop loss from the LL if long or HH short of 2 or 3 candles before entries. What about taking profits ? When you guys know when to take profits ? Green pips to you all! Lara
I'm not a TMS Trader

There probably isn't any, that's one of the reasons this trading system have evolved into a scalping one, even though it started as a basket trading one.
Although the OP tried to book profits when the TDI angle changed backwards against the entry slope which is tricky because if the angle changes direction or goes flat the price has now moved against your entry by couple of pips and your profits are kinda erased i guess. You must read the first 20-30 pages again, imo.
Attached Image (click to enlarge)
Click to Enlarge Name: asd23.png Size: 46 KB
  • #112,693
  • Dec 9, 2020 12:01am Dec 9, 2020 12:01am
Quoting laraparker
Hi Guys, Interesting thread. Ok I know that when you enter in trade you put the stop loss from the LL if long or HH short of 2 or 3 candles before entries. What about taking profits ? When you guys know when to take profits ? Green pips to you all! Lara
BigE mentioned exit 38 times. here are some > post#123, #274, #309

Take profit, exit, stop loss is how you want it to be. You can go by the advice BigE gave or manage trades as you see fit.
  • #112,694
  • Dec 9, 2020 12:01am Dec 9, 2020 12:01am
The OP said many things in his thread. It is little pieces of his Trading Made Simple puzzle.
Unless you have read and studied all his posts and have learn EVERYTHING, it is most likely you will not make it to be profitable like him.

#7612
https://www.forexfactory.com/thread/...42#post4765242
------------------------------------------------------------------------------------------------------------------------

WHEN TO EXIT -----------------

OK there appears to be some confusion here...

According to the rules you exit when the TDI GREEN LINE goes flat, check mark reversal or hooks over.... this is for the conserative trader and works great.

However.... note the blue box on the TDI below. See how the green line archs like a worm crawling up the red line without crossing red. You could have stayed in the whole trade without exiting until green crossed red finally.


Attached Image (click to enlarge)
Click to Enlarge Name: Big E 7612 chart.png Size: 146 KB


------------------------------------------------------------------------------------------------------------------------

so when do we follow his post #6 and when do we follow post #7612?
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #112,695
  • Dec 9, 2020 12:12am Dec 9, 2020 12:12am
Quoting laraparker
Hi Guys, Interesting thread. Ok I know that when you enter in trade you put the stop loss from the LL if long or HH short of 2 or 3 candles before entries. What about taking profits ? When you guys know when to take profits ? Green pips to you all! Lara
Hi Lara

Indeed this is a very interesting thread and that is the reason why I have been here since 2012. I exercise my brain everyday and developed great stamina. And being here keep me mentally fit to fight in this brutal spot forex market. I wire my brain and re-wire my brain according to the ever changing market conditions.

Very good you know how to use LL for log and HH for short. That is basic price action to decide the initial stop loss of any trade. That will work out well and provided that you pick only the best setups and avoid trading small candles. Pick setups where you see the candles are medium size and larger.

When to exit? that's the magic question.
What is you Exit Strategy? Your trade management depends on your Exit Strategy.

If you buy and the trade SL is the last LL, then between your entry price EP and your initial Stop Loss is your risk R.
Will you target a 2R trade?
If yes, then you exit when your trade hit 2 x the initial risk R.

With a 2R trade win, how many trades would you need to make 50Rs in profit if your win rate is 45%?
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #112,696
  • Dec 9, 2020 12:16am Dec 9, 2020 12:16am
My Christmas tree lighted up at 7AM Frankfurt Dec 09

Attached Image (click to enlarge)
Click to Enlarge Name: TMS Mon Dec 09 1AM EST 9-12-2020 2-14-27 pm.png Size: 32 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #112,697
  • Dec 9, 2020 12:21am Dec 9, 2020 12:21am
EURUSD Dec 09 M14 / H4

- easy trade, check my chart once every 4hr and if I see a H1 close with a nice M15 bar, just pull the trigger

- of course according to my daily trade plan

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD Dec 09 M15 H4 buy 9-12-2020 2-20-05 pm.png Size: 33 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #112,698
  • Dec 9, 2020 12:24am Dec 9, 2020 12:24am
Quoting Tekkies
{quote} Your conclusion is right Sniper. ----- DrDave gave the advice to aim for 10 pips a day. That helped a lot. Now the aim is 10 pips a trade, forgetting or ignoring to try and aim for home runs (nice long entry's that run 3 / 4 / 7 / 5 candles). Get in, get out, protect account against losses When possible move to BE plus spread and then that price take entry for that home run. If not, wait for next TDI setup. Look where is price now since last crossover. Missed the bus the first time, now it is to late because H1 has already run more then...

There are many hourly trading only when you know how.

You need only one chart ... M15 with H1, H4 and Daily candles which you can turn on/off.

Attached Image (click to enlarge)
Click to Enlarge Name: EU M15 H1 trees in the forest 9-12-2020 1-46-39 pm.png Size: 51 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #112,699
  • Dec 9, 2020 12:24am Dec 9, 2020 12:24am
GBPAUD Dec 09 M15 with H1 and H4

Attached Image (click to enlarge)
Click to Enlarge Name: GBPAUD Dec 09 M15 H1 9-12-2020 1-51-15 pm.png Size: 49 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #112,700
  • Dec 9, 2020 12:29am Dec 9, 2020 12:29am
AUDUSD Dec 09 M15 with H1 candle close

- looks easy but you must have that DISCIPLINE to wait , take aim and shoot.
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD dec 09 M15 H1 9-12-2020 2-27-51 pm.png Size: 48 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
65 traders viewing now