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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)

  • #7,841
  • May 6, 2022 10:46am May 6, 2022 10:46am
Quoting Polimini
{quote} thanks, i hope i got it right, i'm making a mess out of this by going for the money won and lost and not so much by the charts and if they are still doing what i expected from them or not. Anyway that's what i got and made a lot of sense. As an example, today i have made 12 trades, 10 positives, amazing right. But 2 of them i let them run for too long in the red. I barely made a profit overall. I have to work on this. Because this keeps happening over and over. Can i ask what are the indicators used in the bottom of your chart. I downloaded...
This goes in the window just below the price chart:

Attached File(s)
File Type: mq4 smTMMS Oscillator_v7.3.1.mq4   27 KB | 866 downloads

This is goes in the bottom window:

Attached File(s)
File Type: mq4 MACD True.mq4   3 KB | 686 downloads

Upload these two indicators to MT4 (File > Open Data Folder > MQL4 > Indicators), close the program, restart it, and then apply the template that I just posted to the chart.
Always a Student, Never a Master - Emulate What Works
  • #7,842
  • May 6, 2022 10:51am May 6, 2022 10:51am
Quoting RobinHood
{quote} This goes in the window just below the price chart: {file} This is goes in the bottom window: {file} Upload these two indicators to MT4 (File > Open Data Folder > MQL4 > Indicators), close the program, restart it, and then apply the template that I just posted to the chart.
all working now, thanks for all the help.
  • #7,843
  • May 6, 2022 10:58am May 6, 2022 10:58am
Quoting Boo15
{image}Not a bad start to the Month! hopefully can keep it up.
That's great! Good Job!
Always a Student, Never a Master - Emulate What Works
  • #7,844
  • May 6, 2022 11:16am May 6, 2022 11:16am
Quoting RobinHood
{quote} This goes in the window just below the price chart: {file} This is goes in the bottom window: {file} Upload these two indicators to MT4 (File > Open Data Folder > MQL4 > Indicators), close the program, restart it, and then apply the template that I just posted to the chart.
Hello Robin! how do I make sure that only one yellow line is displayed on the MACD True? Thanks
  • #7,845
  • May 6, 2022 11:21am May 6, 2022 11:21am
Quoting iDentist
{quote} Hello Robin! how do I make sure that only one yellow line is displayed on the MACD True? Thanks
To create the yellow line only:
Attached Image (click to enlarge)
Click to Enlarge Name: MACD True Settings.PNG Size: 16 KB


To add the white line on zero:
Attached Image (click to enlarge)
Click to Enlarge Name: MACD True Settings 2.PNG Size: 29 KB
Always a Student, Never a Master - Emulate What Works
  • #7,846
  • May 6, 2022 11:35am May 6, 2022 11:35am
Thank you very much! This filters out losing trades quite well.
  • #7,847
  • May 6, 2022 11:53am May 6, 2022 11:53am
Quoting 40PipsAlan
{quote} {file}{file}{file}
I added these into my \MQL4\Experts folder, and dropped it into a MT4 chart but nothing came up.
Did I do something wrong pls?
  • #7,848
  • May 6, 2022 11:59am May 6, 2022 11:59am
Quoting MXMmo
{quote} I added these into my \MQL4\Experts folder, and dropped it into a MT4 chart but nothing came up. Did I do something wrong pls?
They go into: \MQL4\Indicators folder
Always a Student, Never a Master - Emulate What Works
  • #7,849
  • May 6, 2022 12:14pm May 6, 2022 12:14pm
Quoting RobinHood
{quote} They go into: \MQL4\Indicators folder
Many thanks and its an eye opener
  • #7,850
  • May 6, 2022 12:18pm May 6, 2022 12:18pm
Hi Everyone,

Thanks you RobinHood for sharing all your knowledge.
I Wanted to share this Macd simple where you can set alert / arrow and it look very visual.

Hope it help.
Have a nice day everyone / week-end.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: MacdTrue.png Size: 67 KB
Click to Enlarge Name: image_2022-05-06_191255980.png Size: 34 KB
Attached File(s)
File Type: ex4 Macd simple.ex4   172 KB | 311 downloads
  • #7,851
  • May 7, 2022 12:37am May 7, 2022 12:37am
@robinhood what are those arrows and how can I get them
  • #7,852
  • May 7, 2022 2:43am May 7, 2022 2:43am
Hey,

RobinHood draw those arrow by himself

Quoting RobinHood
{quote} There is no EA. The only arrows on my charts are ones that I myself place on the charts.
  • #7,853
  • May 7, 2022 8:01am May 7, 2022 8:01am
Everyone,

This is a great system to enjoy trading, its been a few years since I wrote last but I still use RH Strategy and it keeps me and my family in good harmony and thanks again RH and friends for sharing and may everyone enjoy in the future, laters. cpfleger
Attached Image (click to enlarge)
Click to Enlarge Name: RH Trading.jpg Size: 383 KB
  • #7,854
  • May 7, 2022 8:12am May 7, 2022 8:12am
Quoting cpfleger
Everyone, This is a great system to enjoy trading, its been a few years since I wrote last but I still use RH Strategy and it keeps me and my family in good harmony and thanks again RH and friends for sharing and may everyone enjoy in the future, laters. cpfleger {image}
This is excellent. All the best to you and success
  • #7,855
  • May 7, 2022 9:48am May 7, 2022 9:48am
Quoting cpfleger
Everyone, This is a great system to enjoy trading, its been a few years since I wrote last but I still use RH Strategy and it keeps me and my family in good harmony and thanks again RH and friends for sharing and may everyone enjoy in the future, laters. cpfleger {image}
Thank you for your comments, and for taking the time to post what you did.

Best of luck to you!
Always a Student, Never a Master - Emulate What Works
  • #7,856
  • May 7, 2022 11:05am May 7, 2022 11:05am
Quoting RobinHood
I day trade nearly every day. I have been day trading for almost 30 years so I'd like to think that I know a thing or two about it by now. Let me say this before I go on...I do not suggest that most traders day trade because it takes a unique set of skills that often takes years to develop and master, and an intense amount of concentration, and you will most likely lose a lot of trades (and a lot of money relatively speaking) before you get good at it...if ever. 1. There is an old saying. "There are only 2 types of day traders; the quick and the...
Thanks for once again sharing your experience with us. I always benefit a lot from your posts.
I feel like I'm still learning and developing my own style and even though I'm having success on higher time frames I still don't feel confident in my day trading.

A couple of weeks ago I created & funded my Interactive Brokers account and have already made three weekly trades.
After studying your stock charts I came up with somethings like this.

Attached Image (click to enlarge)
Click to Enlarge Name: ADP Weekly.png Size: 39 KB
Attached Image (click to enlarge)
Click to Enlarge Name: DAL Weekly.png Size: 37 KB
Attached Image (click to enlarge)
Click to Enlarge Name: WY Weekly.png Size: 42 KB


Since it is my first time trading stocks (and btw I have to tell you I'm really enjoying TC2000 platform - even subscribed to gold) I was wondering if you could answer me some questions:

1. Would you exit or add to the position based on what the monthly chart does or do you strictly look at the weekly for entries and exits?

2. How do you calculate your risk?

3. Even though I don't like to ask this would you do something different?


Have a nice weekend!
Only the Mediocre are Always at their Best
  • #7,857
  • May 7, 2022 11:35am May 7, 2022 11:35am
Quoting PipsAndGainz
{quote} Thanks for once again sharing your experience with us. I always benefit a lot from your posts. I feel like I'm still learning and developing my own style and even though I'm having success on higher time frames I still don't feel confident in my day trading. A couple of weeks ago I created & funded my Interactive Brokers account and have already made three weekly trades. After studying your stock charts I came up with somethings like this. {image}{image}{image} Since it is my first time trading stocks (and btw I have to tell you I'm really...
If you don't mind, before I comment, I would like to know what stock that is so I can put my template on it and compare how yours looks vs. mine.
Always a Student, Never a Master - Emulate What Works
  • #7,858
  • May 7, 2022 11:46am May 7, 2022 11:46am
Quoting RobinHood
{quote} If you don't mind, before I comment, I would like to know what stock that is so I can put my template on it and compare how yours looks vs. mine.
Of course.

The stocks are (by image order)

  1. ADP
  2. DAL
  3. WY

Only the Mediocre are Always at their Best
  • #7,859
  • May 7, 2022 12:48pm May 7, 2022 12:48pm
First of all, you did an excellent job recreating my chart layout, so bravo!

1. Would you exit or add to the position based on what the monthly chart does or do you strictly look at the weekly for entries and exits?

I do not EVER look at the monthly stock charts, even if I am trading weekly charts. Yes, I know I have said in the past that I look at 1 time frame higher (and I usually do), but I don't when trading Weekly stock charts.

2. How do you calculate your risk?

I do not do it in the most orthodox of ways.

a) I first divide my account balance by 30, and I will only invest 1/30th of my account on any one stock trade.

a) Once I know how much money 1/30 of my account is, that's what I invest in any one stock. Say it's $1000.00. It doesn't matter if the stock is 1 penny, $1, $100 or $1000. I divide the cost per share by $1000.00 and that tells me how many shares to buy. This way, as my account balance goes up I am risking more per trade and when my balance goes down, I am risking less per trade.

b) When I get an entry signal, I look at where my stop will be. If the risk amount is acceptable to me, I take the trade, sometimes it's a very tiny % of the $1000.00 and sometimes it's much more, as in 10%. So even if it's 10%, I will only be losing $100 out of $30,000.00 which is no big deal percentage-wise.

3. Even though I don't like to ask this would you do something different?

First off, I play with chart indicators and settings a lot and I ALWAYS. I have done that because I created and wrote the code for mechanical trading systems for many years. I do it now because it still stimulates my mind. I have a friend who is a professional Commodities trader and I created something for him that he hasn't changed at all in 20+ years. So to each his own. But since you asked if I would do something different, here's how I have my charts set up right now.

Attached Image (click to enlarge)
Click to Enlarge Name: ADP Weekly RH.png Size: 219 KB

I'll bet you see a few things that you have not see before. Now you have even more to try and replicate...LOL!

The grey dotted line with the 2 grey solid lines I call the: Roadmap. Look at in on different time frames on the same stock and you might just be amazed. Interestingly enough, you will find that it works better on some daily charts than it does only weekly charts, and vice-versa. I also use it a lot to day trade. Look at it on a 2 minute FB chart.
Always a Student, Never a Master - Emulate What Works
  • #7,860
  • Edited 2:24pm May 7, 2022 1:43pm | Edited 2:24pm
Quoting RobinHood
First of all, you did an excellent job recreating my chart layout, so bravo! 1. Would you exit or add to the position based on what the monthly chart does or do you strictly look at the weekly for entries and exits? I do not EVER look at the monthly stock charts, even if I am trading weekly charts. Yes, I know I have said in the past that I look at 1 time frame higher (and I usually do), but I don't when trading Weekly stock charts. 2. How do you calculate your risk? I do not do it in the most orthodox of ways. a) I first divide my account balance...
I appreciate the detailed response.
The reason why I tried to replicate it is because I think I have tried almost every indicator available on the platform (and even tried to create some famous ones like the TTM Squeeze) and this oscillator you created is one of the best. That's why I tried so hard to make it identical to yours & I'm not going to lie it took me around a week to figure it out.

I noticed that you had already posted a chart with the roadmap and the other oscillator (red and green lines) but just like your commodities trader friend I think I will follow that advice and use this layout for a while because honestly that's all a trader needs.

But thanks for the new info.
I'll probably check it out just out of curiosity.

Btw about the risk I forgot to ask you something - do you recommend cash or margin account?
Only the Mediocre are Always at their Best
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