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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)

  • #6,941
  • Sep 12, 2021 4:56pm Sep 12, 2021 4:56pm
Quoting Eod
For example now, 23:31 in Italy {image}
What tool is this?
  • #6,942
  • Sep 12, 2021 7:59pm Sep 12, 2021 7:59pm
Quoting Eod
Thanks RH. I have read all the 3d and I understand a lot of things. But in my opinion, the tool that (in addition to those of the TPL1 on the page 1) completes the TS is just this. A real treasure map, if you can really read it. This is only my impression.... {image}
I have tried to use that tool but I can't read the pair text. The text is too large for the boxes.
Any ideas why?
  • #6,943
  • Sep 13, 2021 3:32am Sep 13, 2021 3:32am
Quoting Jackain
{quote} What tool is this?
Attached File(s)
File Type: ex4 smTMMS-RobinHood DB_v2.2.ex4   102 KB | 543 downloads

here it is
  • #6,944
  • Sep 13, 2021 5:17am Sep 13, 2021 5:17am
Quoting senkyoshi
{quote} I have tried to use that tool but I can't read the pair text. The text is too large for the boxes. Any ideas why?
recharge the indi and modify the input data....
  • #6,945
  • Sep 13, 2021 7:35am Sep 13, 2021 7:35am
Quoting Jackain
Hi everyone, thanks a lot for the method RobinHood, and BigE may he rest in peace (coming from his thread). Trying to reproduce the indicator on MT5, i'm really close, from what i see i only lack the lines to turn grey/colored, so it's kind of a mess to read. I believe i'll have to code it myself, i would have to know the conditions to the color changing, and learn how to modify MQL5 indicators, unless it's already been done? I've found the HMA for MT5 in this thread but nothing more. Question regarding the method: Do you trust signals coming from friday before market close and soon in market open on sunday? And do you let you trades run on week end?...
I never take the day of the week into consideration. Whatever day I get a signal to enter or exit I take it.

And when trading Daily charts, I usually enter or exit about 5-10 minutes before the close.

Yes, I hold trades over the weekend.
Always a Student, Never a Master - Emulate What Works
  • #6,946
  • Sep 13, 2021 7:36am Sep 13, 2021 7:36am
Quoting UkSmurfy
Robinhood, hope your well. I wondered if you had any strong feelings on taking trades later in the day on fridays and sundays before the market opens on monday? Paul.
Read post # 6945
Always a Student, Never a Master - Emulate What Works
  • #6,947
  • Sep 13, 2021 2:33pm Sep 13, 2021 2:33pm
Quoting RobinHood
{quote} Read post # 6945
Thanks, i've spent so much time studying that now i'm trading for real i think i overthink things too much, theres a some nice trades unfolding that opened on both friday and last night which i didnt enter for fear of trading those days. Thanks for responding.

Paul.
  • #6,948
  • Sep 14, 2021 1:36am Sep 14, 2021 1:36am
Maybe post here or open a thread with TMSr setups from people using this method?
Quote
Thanks, i've spent so much time studying that now i'm trading for real i think i overthink things too much, theres a some nice trades unfolding that opened on both friday and last night which i didnt enter for fear of trading those days. Thanks for responding.
  • #6,949
  • Sep 14, 2021 3:36pm Sep 14, 2021 3:36pm
Quoting RobinHood
{quote} I would have entered on the 3rd bar after the signal bar because it's the first time that a bar takes out the high of the immediate previous bar (after the signal bar).' {image}
And you would have set SL two bars back from entry or from signal bar?
  • #6,950
  • Sep 15, 2021 8:46am Sep 15, 2021 8:46am
Quoting oohoo
{quote} And you would have set SL two bars back from entry or from signal bar?
I don't always use 2 bars. Where to place stops (for me) is always a judgement call.

If one bar back is a large bar, I use that.

If there is a swing point 3-4 bars back, I often use that.
Always a Student, Never a Master - Emulate What Works
  • #6,951
  • Sep 15, 2021 7:37pm Sep 15, 2021 7:37pm
Quoting trade1969
{quote} 1.In our method,the price is the boss(price action is the first signal.Indetify first the SET-UP CANDLE). Not the indicator.The indicator just confirm the price action.

Yeah, I've learned my lesson. TMSr method is pretty clear, however the success rate of my judgement based on price action analysis is poor.
I guess I will spend more time learning & practicing PA again
  • #6,952
  • Sep 17, 2021 7:08am Sep 17, 2021 7:08am
In Post # 6926 I said:

"I never blindly enter a trade anymore when I get a signal. If it's a Long trade, I go in when the market goes above the high of the bar that I got the signal on. Short trades are just the opposite.

Look over a chart and you will see how often it happens that the next bar never goes above the high of the bar that you got the signal on, on Long trades. And vice-versa for Short trades."

Then I talked about it more in Post # 6935 where I said:

"I would have entered on the 3rd bar after the signal bar because it's the first time that a bar takes out the high of the immediate previous bar (after the signal bar)."

I was just going through some charts and found the perfect example of this on the Weekly GBP/JPY chart. Notice that ALL of the indicators tell you to go short (look at the vertical yellow line) BUT the bar immediately after the Signal Bar never takes out the low of the Signal Bar, so I would not have entered this trade short.

Attached Image (click to enlarge)
Click to Enlarge Name: Don't Short This.PNG Size: 34 KB

NOT taking this trade would have saved traders from unnecessarily losing about 150 pips. That's WHY I use this entry rule.
Always a Student, Never a Master - Emulate What Works
  • #6,953
  • Sep 17, 2021 4:43pm Sep 17, 2021 4:43pm
Quoting ChrisCoffee
EJ Trade. First TP hit. Stop being Trailed {image}
Nice , Are you using Sentiment for the decision ?! Can you please share the trade manager ( Risk calculator) looks simple and nice. Thanks
  • #6,954
  • Sep 19, 2021 4:42pm Sep 19, 2021 4:42pm
Quoting RobinHood
In Post # 6926 I said: "I never blindly enter a trade anymore when I get a signal. If it's a Long trade, I go in when the market goes above the high of the bar that I got the signal on. Short trades are just the opposite. Look over a chart and you will see how often it happens that the next bar never goes above the high of the bar that you got the signal on, on Long trades. And vice-versa for Short trades." Then I talked about it more in Post # 6935 where I said: "I would have entered on the 3rd bar after the signal bar because it's the first time...
Thanks RH.
I have a question about this. Should we wait until the second red bar closes, or when the second bar's price drops below the previous bar's close while still open? Movement can still happen and the second bar can still go back up again...
  • #6,955
  • Sep 19, 2021 10:16pm Sep 19, 2021 10:16pm
Quoting MalvernTrust
{quote} Nice , Are you using Sentiment for the decision ?! Can you please share the trade manager ( Risk calculator) looks simple and nice. Thanks

Here are 3 nice ones:

https://www.mql5.com/en/market/produ...factory.com%2F

https://www.mql5.com/en/market/produ...source=Unknown

https://www.mql5.com/en/market/produ...urce=Email+572
  • #6,956
  • Sep 20, 2021 5:14am Sep 20, 2021 5:14am
Quoting senkyoshi
{quote} Thanks RH. I have a question about this. Should we wait until the second red bar closes, or when the second bar's price drops below the previous bar's close while still open? Movement can still happen and the second bar can still go back up again...
I enter as soon as the second bar's price drops below the previous bar's LOW (not the Close) while still open.

Yes, price can go back up again BUT, it is more likely to go down rather than up when that previous bar's low is breached taking into consideration that our other indicators are also suggesting a down move.

"The Race Is Not Always to the Swift, Nor the Battle to the Strong; But That Is the Best Way to Bet"
Always a Student, Never a Master - Emulate What Works
  • #6,957
  • Sep 20, 2021 10:29am Sep 20, 2021 10:29am
Quoting RobinHood
{quote} I enter as soon as the second bar's price drops below the previous bar's LOW (not the Close) while still open. Yes, price can go back up again BUT, it is more likely to go down rather than up when that previous bar's low is breached taking into consideration that our other indicators are also suggesting a down move. "The Race Is Not Always to the Swift, Nor the Battle to the Strong; But That Is the Best Way to Bet"
Thanks RH.
That is what I figured. If you wait forever, nothing will happen.
  • #6,958
  • Sep 20, 2021 12:11pm Sep 20, 2021 12:11pm
Quoting ZapPow
{quote} Here are 3 nice ones: https://www.mql5.com/en/market/produ...factory.com%2F https://www.mql5.com/en/market/produ...source=Unknown https://www.mql5.com/en/market/produ...urce=Email+572
Thanks Very much, let me check
  • #6,959
  • Sep 20, 2021 12:19pm Sep 20, 2021 12:19pm
Robin

is there a specific/better time of the day/market to enter a trade ?

TJP
  • #6,960
  • Edited 10:45am Sep 21, 2021 9:56am | Edited 10:45am
Quoting Tjp
Robin is there a specific/better time of the day/market to enter a trade ? TJP
Based on my experience, the London open until the U.S. close are the best times to trade intraday.
Always a Student, Never a Master - Emulate What Works
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