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Trading Made Simple 151,881 replies

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)

  • #7,941
  • May 17, 2022 2:32pm May 17, 2022 2:32pm
Quoting emequispips
{quote} Happy to read that!
Thanks Guys, have it downloaded on MT4 and all good.

Green pips to us all.
  • #7,942
  • May 17, 2022 2:38pm May 17, 2022 2:38pm
Quoting emequispips
RobinHood Can you tell us about the other line? I think people that follow you already understand the ROH and more with the mt4 issue
Regarding the RHO, I very often use the yellow line crossing below the magenta line to exit a trade (on long trades, and vice-versa for short trades), but I wanted a way to exit sooner so I added a brown 25 sma to the RHO....BUT it needs to be scaled to the 6 & 10 MACD to work correctly. Thats' the ONLY way that I use the brown line. It's not perfect and I may be able to improve upon it at some point, but this is how I am doing it for now. When you are in a trade, whichever line (the brown or magenta) that the yellow line hits first is the exit.

Can you (or Eric888) program this into the RHO that you made?

Attached Image (click to enlarge)
Click to Enlarge Name: 25 SMA.PNG Size: 196 KB
Always a Student, Never a Master - Emulate What Works
  • #7,943
  • May 17, 2022 3:05pm May 17, 2022 3:05pm
Quoting RobinHood
{quote} Regarding the RHO, I very often use the yellow line crossing below the magenta line to exit a trade (on long trades, and vice-versa for short trades), but I wanted a way to exit sooner so I added a brown 25 sma to the RHO....BUT it needs to be scaled to the 6 & 10 MACD to work correctly. Thats' the ONLY way that I use the brown line. It's not perfect and I may be able to improve upon it at some point, but this is how I am doing it for now. When you are in a trade, whichever line (the brown or magenta) that the yellow line hits first is the...
I don't know the definition of your brown line, I try to understand it, please check if it's correct, thanks
Attached File(s)
File Type: ex4 Double MacdV1.1.ex4   9 KB | 237 downloads
  • #7,944
  • May 17, 2022 3:14pm May 17, 2022 3:14pm
Quoting Eric888
{quote} I don't know the definition of your brown line, I try to understand it, please check if it's correct, thanks {file}
I cant check right now but I think you need to calculate sma 25 for macd 6 & 10 signal
  • #7,945
  • May 17, 2022 3:52pm May 17, 2022 3:52pm
Quoting Eric888
{quote} I don't know the definition of your brown line, I try to understand it, please check if it's correct, thanks {file}
You add a 25 Simple Moving Average to the RHO and it has to be scaled to the 6-10 MACD.
Always a Student, Never a Master - Emulate What Works
  • #7,946
  • May 18, 2022 4:02am May 18, 2022 4:02am
Quoting Eric888
{quote} I don't know the definition of your brown line, I try to understand it, please check if it's correct, thanks {file}
Thank you. You have created the brown line correctly but it does not match mine. I am using a 25 Simple Moving Average.

Mine is on the top and yours is on the bottom.

Attached Image (click to enlarge)
Click to Enlarge Name: RHO's Compared.PNG Size: 112 KB
Always a Student, Never a Master - Emulate What Works
  • #7,947
  • Edited 5:02am May 18, 2022 4:26am | Edited 5:02am
Quoting trade1969
{image}
Thanks again for posting the indicator. As you know, it's very important to me to see which side of the 50 the RSI [14] is on. I figured out how to add the 50 line to it correctly. Here's how I did it should you want to do it too.

Attached Image (click to enlarge)
Click to Enlarge Name: RSI 50 Line.PNG Size: 53 KB
Always a Student, Never a Master - Emulate What Works
  • #7,948
  • May 18, 2022 5:47am May 18, 2022 5:47am
Quoting RobinHood
{quote} Thanks again for posting the indicator. As you know, it's very important to me to see which side of the 50 the RSI [14] is on. I figured out how to add the 50 line to it correctly. Here's how I did it should you want to do it too. {image}
Thanks,I wll
  • #7,949
  • Edited May 19, 2022 4:36am May 18, 2022 8:23am | Edited May 19, 2022 4:36am
You Must Become the "House"

I am positive that losing traders wonder why they lose waaaay more often than they win (at least I know I did). The reason is simple. It's the same reason why they lose at every casino table game and slots in a casino over time. It's because the casino is the "House", they make the rules, rules tilted to their advantage. Every game you play has a built in advantage for the House over the players (other than poker and sports betting where they just take a cut of the pot for facilitating the game).

In other words, whenever you play a game with someone (like a casino) who has the odds in their favor, they will always in the end win...if you play them long enough, even if the casino only has 50.5% to 49.5% advantage over the player. Given enough time, they will take every penny the player has. You cannot consistently beat any game where you are playing at a consistent disadvantage. Drill that into your head! Sure, you can beat them occasionally, just not consistently.

Now, why do losing traders consistently lose trading? It' because they are also playing against the "House". Really? Who is the House in trading? The brokers?? NO!, they are just their to facilitate the game like casinos do, they also take a cut from every trade. Same thing with sports bookies.

So WHO then is the "House" in trading? The answer is simple! It's all of the winning traders! We take the losing traders money...consistently! How?? Because we have the advantage through our winning gambling systems and methods, and because we know how much to bet on every trade, which time frames to trade, and when and when not to trade. We also have a winning attitude...and that's VERY important too.

Winning in trading comes down to what I call the "3M's of Trading".

Mind, Methods and Money Management

So how do you become the "House"? You create advantages for yourself, and the more the better. Nobody with any real sense would just dive into water without testing the temperature of the water first. Smart people stick their toe in the water to test the temperature first.

Testing the water in trading is called "Demo Trading". Before you make any, or any more trades with real money, find some trading advantages for yourself and test them out on a Demo account. Once you are consistently winning, then, and only then do you try it with real money.

This is the main reason I created this thread. I wanted most to turn losing traders into winning traders (because I was one long ago) and I feel like I have accomplished that for many traders here, and hopefully many, many more in the future.

Always remember: "You Must Become the "House" where you have the advantage if you want to consistently make money trading.
Always a Student, Never a Master - Emulate What Works
  • #7,950
  • Edited 9:55am May 19, 2022 6:56am | Edited 9:55am
I have been day trading the Forex some lately just for my own personal entertainment because the U.S. stock market is in such turmoil right now. Look at this choppy mess! Who could successfully day trade that?? Not me!
Attached Image (click to enlarge)
Click to Enlarge Name: Choppy Mess.PNG Size: 193 KB

Study this Forex chart. It can teach you a lot IF you really, really study it. If anyone has any questions about it, just ask.
Attached Image (click to enlarge)
Click to Enlarge Name: Trading Examples.PNG Size: 109 KB


I think it would only be fair for me to prove that I have taken some Forex trades for real money.
Attached Image (click to enlarge)
Click to Enlarge Name: Live.PNG Size: 42 KB

Attached Image (click to enlarge)
Click to Enlarge Name: 2.PNG Size: 19 KB
Attached Image (click to enlarge)
Click to Enlarge Name: 1.PNG Size: 18 KB
Always a Student, Never a Master - Emulate What Works
  • #7,951
  • May 19, 2022 7:41am May 19, 2022 7:41am
Quoting RobinHood
I have been day trading the Forex some lately just for my own personal entertainment because the U.S. stock market is in such turmoil right now. Study this chart. It can teach you a lot IF you really, really study it. If anyone has any questions about it, just ask. {image} I think it would only be fair for me to prove that I have taken some trades for real money. {image} {image}{image}
Hi RobinHood,

Could you please share your mt4 template?
  • #7,952
  • May 19, 2022 8:11am May 19, 2022 8:11am
Quoting RobinHood
I have been day trading the Forex some lately just for my own personal entertainment because the U.S. stock market is in such turmoil right now. Study this chart. It can teach you a lot IF you really, really study it. If anyone has any questions about it, just ask. {image} I think it would only be fair for me to prove that I have taken some trades for real money. {image} {image}{image}
I switched to OANDA this month so I can also connect it to Trading View but my spreads are much higher than yours.

They never go below 1/1.5 and I can't use time frames lower than M15.

How did you manage to have yours that low?
Only the Mediocre are Always at their Best
  • #7,953
  • Edited 8:50am May 19, 2022 8:25am | Edited 8:50am
Quoting Vivi-l
{quote} Hi RobinHood, Could you please share your mt4 template?
I will share what I am currently using BUT in order for your chart to look like mine, you will have to search this forum to get all 13 indicators that I currently use as it would take me more effort than I wish to spend for me to post them. You can find them by clicking the icon in the top right corner of this forum. It looks like this in the red box:

Attached Image (click to enlarge)
Click to Enlarge Name: Indicators.PNG Size: 10 KB

Here are the 13 indicators.

Attached Image (click to enlarge)
Click to Enlarge Name: 13 Indicators.PNG Size: 81 KB


My chart looks like this with all 13 indicators on it, BUT I never use all 13 indicators at once on the same chart because some are redundant, and/or take up too much space.

Attached Image (click to enlarge)
Click to Enlarge Name: My Chart with All 13 Indicators.PNG Size: 105 KB

Here's my current layout of charts for day trading (they are VERY subject to change at any time) AND I do not recommend that most people day trade because it's very hard to do successfully without a TON of trading experience. Remember this: "You must be the "House" to consistently win". But if you insist on trying it, don't use 1 min charts. I would suggest that you use the chart layout that I show in the next image below. But instead us a 3 chart layout using 5 mins., 15 mins. and 1 hour.

If you mainly trade another time frame than the ones I use in the example below, you will need to change the chart times of all the charts. For example, if you trade 1 hr. charts, you will need the 3 charts to be: 1 hr., 4 hr. and Daily. Ideally, you want each chart to be progressively 3-6 times higher than the last.

Attached Image (click to enlarge)
Click to Enlarge Name: My Layout for DayTrading.PNG Size: 165 KB

Here's the template:

Attached File(s)
File Type: tpl RobinHood - # 3.tpl   20 KB | 683 downloads

Any questions?
Always a Student, Never a Master - Emulate What Works
  • #7,954
  • May 19, 2022 8:32am May 19, 2022 8:32am
Quoting PipsAndGainz
{quote} I switched to OANDA this month so I can also connect it to Trading View but my spreads are much higher than yours. They never go below 1/1.5 and I can't use time frames lower than M15. How did you manage to have yours that low?
Honestly, I don't know. Possibly the difference comes from how much money we each have in our accounts OR the fact that you are are in a Portugal and I am in the U.S. where OANDA is headquartered? Maybe call/email OANDA and ask them why about each question?
Always a Student, Never a Master - Emulate What Works
  • #7,955
  • May 19, 2022 8:38am May 19, 2022 8:38am
Quoting RobinHood
{quote} Honestly, I don't know. Possibly the difference comes from how much money we each have in our accounts OR the fact that you are are in a Portugal and I am in the U.S. where OANDA is headquartered? Maybe call/email OANDA and ask them why about each question?
Yes it is a possibility but I will take your advice and contact them.
Only the Mediocre are Always at their Best
  • #7,956
  • May 19, 2022 9:03am May 19, 2022 9:03am
Here's the same area that I just talked about in Post #7950, but this is how you would have traded the 5 min. chart.
Attached Image (click to enlarge)
Click to Enlarge Name: 5 Min Chart Trading Example.PNG Size: 90 KB
Always a Student, Never a Master - Emulate What Works
  • #7,957
  • May 19, 2022 10:08am May 19, 2022 10:08am
Quoting RobinHood
{quote} I will share what I am currently using BUT in order for your chart to look like mine, you will have to search this forum to get all 13 indicators that I currently use as it would take me more effort than I wish to spend for me to post them. You can find them by clicking the icon in the top right corner of this forum. It looks like this in the red box: {image} Here are the 13 indicators. {image} My chart looks like this with all 13 indicators on it, BUT I never use all 13 indicators at once on the same chart because some are redundant, and/or...
Dear RobinHood,

I hope you're going well !
Thanks you so much for all those share you give to all of us for free ! your knowledge is so much valuable!

I downloaded your template and i have one question : I see on your template the roadmap is a 50 Simple Moving Average so is it EMA or SMA ?
Thanks again for your time , have a nice day !
  • #7,958
  • May 19, 2022 10:16am May 19, 2022 10:16am
Quoting Zakarh
{quote} Dear RobinHood, I hope you're going well ! Thanks you so much for all those share you give to all of us for free ! your knowledge is so much valuable! I downloaded your template and i have one question : I see on your template the roadmap is a 50 Simple Moving Average so is it EMA or SMA ? Thanks again for your time , have a nice day !
Thank you!

It really makes very little difference. I chose to use the 50 SMA on the Forex and the 50 EMA on stocks. But I would be okay with using either one on every chart.

It all just comes down to what I thought looked the best overall on the most charts, and on the most time frames.
Always a Student, Never a Master - Emulate What Works
  • #7,959
  • May 19, 2022 10:33am May 19, 2022 10:33am
Quoting RobinHood
{quote} Thank you! It really makes very little difference. I chose to use the 50 SMA on the Forex and the 50 EMA on stocks. But I would be okay with using either one on every chart. It all just comes down to what I thought looked the best overall on the most charts, and on the most time frames.
Oh ok, I see .
Thank you for the clarification !

I wish you the best !
  • #7,960
  • May 19, 2022 10:56am May 19, 2022 10:56am
Quoting RobinHood
{quote} You add a 25 Simple Moving Average to the RHO and it has to be scaled to the 6-10 MACD.
I'm trying to replicate on TV.

Brown line is 25 sma calculated to close value (chart) and then rescaled to macd 6 -10?

Thanks
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