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Trading Made Simple

  • #132,161
  • Jun 11, 2022 10:29am Jun 11, 2022 10:29am
Quoting havenoidea
{quote} trade 1: +77 pips trade 2: +35 pips trading is a boring job, made money but not really happy. {image}
Trading is “boring” because once you get hold to a consistent trading method you just trade consistently the same thing.

whether it is a “job” or not depends on your reason of trading. IMO the best approach would be trading as a game and profit as a bonus, and your current living standard does not need trading profit to support, ie it is a (kill time) hobby. I have my job paying me well. My dad as retired IT profession worked in university enjoys pension as of the “old system” (uni & gov employees).

If you are making money, just find ways to crank up your account size. Simplify your method and lower your frequency of trading (not necessary move away from day trading, just less positions), the approach I have shared along my journey trading TMS.

There are so many other things you can do when trading is freeing up your time and giving you bonus money. Gadgets, new apartments, more social activities, travels, these are just a few thing a good trading can make them better, and I am happy when trading is “boring”, ie spending little time and effort for positive return.

trade well

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  • #132,162
  • Jun 11, 2022 10:57am Jun 11, 2022 10:57am
Quoting emmanuel7788
{quote} This well known Post#647 which many traders here struggles with for more than 10 years. When wanting to enter a TDI trade... take a moment first to observe basic 4x things... like: How close am I to the previous high or lo Am I in an uptrend or downtrend.. short & long term... Am I in or close to a consolidation area Are the previous candles small... Look at the candles on the last reversal... big, little, what How does the momentum look right now (12-2, 4-6) Does Stoch's confirm the TDI signal Sounds like a lot of stuff but it's basic stuff...

I see most people trapped by the fallacy that “more complicated is better” and add in a lot of their own ideas, EAs. As BigE mentioned, his spent at least 2 years to distil his years of trading experience into a simple Trading Made Simple method.

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it is not that far-fetched to have a 70-85% win rate. It is simple but not easy.
“You need hard work to make it look easy”.

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  • #132,163
  • Jun 11, 2022 11:05am Jun 11, 2022 11:05am
Quoting tommydoginti
{quote} I see most people trapped by the fallacy that “more complicated is better” and add in a lot of their own ideas, EAs. As BigE mentioned, his spent at least 2 years to distil his years of trading experience into a simple Trading Made Simple method. {image}{image} it is not that far-fetched to have a 70-85% win rate. It is simple but not easy. “You need hard work to make it look easy”. {image}

trading based on #647 and TDI crosses
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When simply use “highs and lows” and “trend” with TDI crosses aligning the trend direction.
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It is 60-70% accurate in long run. Add in other PA like “rejection” and not surprising to see better win rate.
  • #132,164
  • Jun 11, 2022 2:13pm Jun 11, 2022 2:13pm
Quoting tommydoginti
{quote} Trading is “boring” because once you get hold to a consistent trading method you just trade consistently the same thing. whether it is a “job” or not depends on your reason of trading. IMO the best approach would be trading as a game and profit as a bonus, and your current living standard does not need trading profit to support, ie it is a (kill time) hobby. I have my job paying me well. My dad as retired IT profession worked in university enjoys pension as of the “old system” (uni & gov employees). If you are making money, just find ways...

Yeah, whenever I feel my heartrate increasing I usually close my trade if it is up/down. Usually serves me well.
Love to talk on Discord: DividendGamer#1324
  • #132,165
  • Jun 11, 2022 2:15pm Jun 11, 2022 2:15pm
Quoting tommydoginti
{quote} I see most people trapped by the fallacy that “more complicated is better” and add in a lot of their own ideas, EAs. As BigE mentioned, his spent at least 2 years to distil his years of trading experience into a simple Trading Made Simple method. {image}{image} it is not that far-fetched to have a 70-85% win rate. It is simple but not easy. “You need hard work to make it look easy”. {image}
I can average over 70% pretty consistently.
Love to talk on Discord: DividendGamer#1324
  • #132,166
  • Jun 11, 2022 8:20pm Jun 11, 2022 8:20pm
Quoting LifesAbeach
{quote} {image}
{extracted from Mark Douglas' book Trading in the Zone}

What Are the Objectives?
Ultimately, of course, making money is everyone's objective. But if trading were only a matter of making money, reading this book wouldn't be necessary. Putting on a winning trade or even a series of winning trades requires absolutely no skill. On the other hand, creating consistent results and being able to keep what we've created does require skill. Making money consistently is a by-product of acquiring and mastering certain mental skills. The degree to which you understand this is the same degree to which you will stop focusing on the money and focus instead on how you can use your trading as a tool to master these skills.

Does it require a lot of trading skills if you follow the OP Big E' Post#8703 July 23, 2011
<>
I'm going to do a test on the Daily charts. When green crosses red I'll stay in until green crosses red again. I'll report the results in a week or so... I'll only enter if the candles are medium length or larger... wish me luck ...
<>

Ask yourself, what mental skills did Big E have back in 2011 and do you have those same mental skills.

To what degree do you understand your own mental skills when trading.

With developed mental skills, you do not rely on luck.


Trade Well and Good luck!
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #132,167
  • Jun 11, 2022 8:40pm Jun 11, 2022 8:40pm
Quoting Varkeer
{quote} I can average over 70% pretty consistently.

hi @Varkeer

average over 70% consistently is very good trading performance considering that your trading method and approach has been consistent in different market type conditions. With your consistent +70%, you will grow an account very easily with proven Money Management strategy.

And for someone who has been trading for more than 8 years to make this claim you can be trusted compared to other trader with less than 2 years here.

You can grow a $10,000 account to $50,000 in less than 24 months, then to grow from $50,000 to $250,000 would be a breeze.

Reading your posts in FF, you have what many people do not have when it comes to investing&trading in financial markets. You do have a lot knowledge from reading many books and plus the added market experience, you will continue to do well in trading the market and prosper.

Thank you for your sharing here and this is an inspiration for new traders to emulate your achievements.

Trade Well and Prosper.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #132,168
  • Jun 11, 2022 8:53pm Jun 11, 2022 8:53pm
Quoting tommydoginti
{quote} trading based on #647 and TDI crosses {image} When simply use “highs and lows” and “trend” with TDI crosses aligning the trend direction. {image} It is 60-70% accurate in long run. Add in other PA like “rejection” and not surprising to see better win rate.

Learn from the OP Big E' Post#2 Training chart

Quoting eelfranz
1st Trading Chart... Note on the TDI showing your entry set ups... green crossing red enter on that new PA candle... {image}
all the details of PA and the chart patterns swing highs and swing lows are all there. The challenge is to pick only the best setups and avoid the 'iffy' ones (Post#495)

you need to: I choose my trades carefully making sure they meet the entry rules spot on... and pass on the iffy ones and go hunt other charts.


> how do you filter the 'iffy' TDI setups?

#2 Big E' Training Chart
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same chart, but with a few basic PA using price bar/candlestick

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what if you follow the OP' Post #2617 and remove the TDI?
> the same basic PA as your setups,
> you can make money everyday with using the Stochastics Post#296
> not for newbies but you need to be intermediate+ level trader Post#3805

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Many of you need to continue and work even harder to reach that level of being intermediate+.



...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #132,169
  • Jun 11, 2022 9:18pm Jun 11, 2022 9:18pm
Quoting havenoidea
{quote} trade 1: +77 pips trade 2: +35 pips trading is a boring job, made money but not really happy. {image}

"...trading is a boring job, made money but not really happy...."

hey @havenoidea

If you find trading a boring job, then you have no idea that a heart surgeon feels the same about his job. He does the same work everyday to help people and give people a longer quality life.

When you have your Ten Tasks of Trading and you follow that every day when you are trading, it may be boring because trading is a repetitive skill based activity.

Top 10 Tasks of Trading { here }

when you "made money but not really happy"

will making more money make you really happy?

how about when you trade a $10,000 account and grow that to $300,000? will this make you really happy?

I know I will be very happy by end Sep 2022 or may before that day.

Stay Tuned!
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #132,170
  • Jun 11, 2022 11:20pm Jun 11, 2022 11:20pm
Quoting emmanuel7788
{quote} "...trading is a boring job, made money but not really happy...." hey @havenoidea If you find trading a boring job, then you have no idea that a heart surgeon feels the same about his job. He does the same work everyday to help people and give people a longer quality life. When you have your Ten Tasks of Trading and you follow that every day when you are trading, it may be boring because trading is a repetitive skill based activity. Top 10 Tasks of Trading { here }...
perhaps that trader who is bored should go and get a concreting job with a pay of $25 per hour and see how he gets bored then
people leave, but this thread will go on for ever
  • #132,171
  • Jun 11, 2022 11:44pm Jun 11, 2022 11:44pm
http://forex.minerasoft.com.br/
  • #132,172
  • Jun 12, 2022 4:25am Jun 12, 2022 4:25am
Quoting emmanuel7788
{quote} hi @Varkeer average over 70% consistently is very good trading performance considering that your trading method and approach has been consistent in different market type conditions. With your consistent +70%, you will grow an account very easily with proven Money Management strategy. And for someone who has been trading for more than 8 years to make this claim you can be trusted compared to other trader with less than 2 years here. You can grow a $10,000 account to $50,000 in less than 24 months, then to grow from $50,000 to $250,000...
Thanks, I am still learning, and have my own struggles, but at least I have a pretty healthy understanding of my flaws, and recognize the need to keeping working to improve.

Some of the times I had my best months/years were times I grew/learned the least. I would be better off with more consistent growth, the spikes are fun, but as I improve my trade management and get better at closing positions, I have much better weeks as of late, and this is a key change I made.

The time period where I had 85 trades in a row go my way in 2020 and I made like $6k from $500 is a good example. I was so concerned about keeping the streak alive, that I did some weird trades.

If I had just been ok with a consistent 7/10 trades going my way, some of those "losing" trades could have let me make even more money. Because I would then have had the capital available to reposition my trade and adjust to the market conditions.

This is why people fall victim to recency bias and believe themselves to be infallible. The market can be irrational in the face of your "analysis."

Being stubborn has no place in forex. People need to keep their ego in check.
Love to talk on Discord: DividendGamer#1324
  • #132,173
  • Jun 12, 2022 10:46am Jun 12, 2022 10:46am
Quoting Varkeer
{quote} I can average over 70% pretty consistently.
Quoting Varkeer
{quote} Yeah, whenever I feel my heartrate increasing I usually close my trade if it is up/down. Usually serves me well.
Hi Varkeer,

Good! I am happy for you understanding how trading can work for you. I see you have been trading for a few years and stay profitable consistently. We have different mind set compared to those "senior traders" who have lost money for years, the main being knowing the possibility of high probability setups (an edge), and simplicity is the essence to a profitable and swiftly executable trading method.

Trading Success is like success in any profession. One has to "Stay Successful" since the beginning to be a doctor/(fill in your own profession). A medical student failing exams, houseman "killing" a patient, etc. These failures lead to termination of one's medical career for good...
In trading, first milestone should be "not losing a cent". If a trader blows accounts consistently, he/she will never be "successful" in trading no matter how long been "trading".


I see your profile showing us in similar age, and we both have jobs. My current approach to trading is simply kill-time project with money as bonus. IMO the first goal is to develop a trade system (business model) to control risk, then the wins and losses are just playing our according to your plans and have minimal emotional impact. But yes if you believe the trades are affecting your emotions then staying away from the market is a good solution. There are many other things to do in life.

Trade well!
  • #132,174
  • Jun 12, 2022 11:05am Jun 12, 2022 11:05am
Quoting emmanuel7788
{quote} Learn from the OP Big E' Post#2 Training chart {quote} all the details of PA and the chart patterns swing highs and swing lows are all there. The challenge is to pick only the best setups and avoid the 'iffy' ones (Post#495) you need to: I choose my trades carefully making sure they meet the entry rules spot on... and pass on the iffy ones and go hunt other charts. > how do you filter the 'iffy' TDI setups? #2 Big E' Training Chart {image} same chart, but with a few...
Hi Emmanuel,

Thanks for your interest in my trading. BigE's Trading Made Simple is indeed simple and effective.
A couple of advice to you.

1) Follow BigE's #647 for PA. BigE has spent 2 years to distil his years of trading experience into a Trading Made Simple method.
#495
Starting out you should be 60-65% successful. Within 1 to two months you should be 70-80% successful.. IF... you follow the simple rules and simple exits... 3-6 months... 85% successful. Don't complicate it... keep it simple. Buy your wheel barrow..

What I been advising you for over a year is stick to the simple rules laid out by BigE.

For example, #2.
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Now, Apply BigE's #647, followed by TDI green cross red for entries.
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The accuracy (win rate) is already 60%+. And much less complicated than your way of trading.


2) You have confessed to us your first 12 years of trading were all losing. While I appreciate you kindly sharing with us your failures, it is notable that you still suffer "huge drawdown a couple times a year", with blowing accounts occasionally.

BigE's Trading Made Simple has SL for cut-loss. For example, #495 "SL at previous HH / LL" as one of the many approaches.

<!> Remember to trade with stoploss
<!> Minimize your risk and drawdown as first goal in trading

Drawdown is also an important parameter to keep track of your performance and should not be overlooked.
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======

I see you have spent years drifting away from BigE's Trading Made Simple in search of your "holy grail". I can only tell you making your trading complicated is not the way.
You will get there. Good luck.
  • #132,175
  • Jun 12, 2022 4:10pm Jun 12, 2022 4:10pm
Quoting rodolfolm
http://forex.minerasoft.com.br/

hi rodolfolm



I found many versions of the TDI at that website you provided.

That original 2005 TDI version which the OP of this thread used is also there.

Plus all the indicators from Dean Malone' Synergy system are also all there.

Now TMS traders here can use them and learn what they have missed since 2011.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #132,176
  • Jun 12, 2022 4:30pm Jun 12, 2022 4:30pm
Quoting tommydoginti
{quote} Hi Emmanuel, Thanks for your interest in my trading. BigE's Trading Made Simple is indeed simple and effective. A couple of advice to you. 1) Follow BigE's #647 for PA. BigE has spent 2 years to distil his years of trading experience into a Trading Made Simple method. #495 Starting out you should be 60-65% successful. Within 1 to two months you should be 70-80% successful.. IF... you follow the simple rules and simple exits... 3-6 months... 85% successful. Don't complicate it... keep it simple. Buy your wheel barrow.. What I been advising...

hey @tommydog

We are all interested in how you will progress in your trading the next 10 years knowing that you just started trading forex in Oct 2020. Your short two years trading shows that you still have a lot to learn about trading the markets. Since you did not take advantage of the market conditions in the months of March, April and May, and grow your IG account is evident that you do not know how trading made simple has to be adapted to the market conditions.

Anyway, stay tuned and learn a few different money management strategy to trade $10,000 and turn that to $300,000 in one market cycle.

It is good that you still have your day job. Work hard at your day job because it will pay all your bills and living expenses for the next 30+ years until you can possibly retire at age 60. Learn to save at least 20% of your salary and invest wisely so ensure you have enough money to retire at age 60 and live till 100.

Now back to Big E' Trading Made Simple. Reading how you interpret his Post#2 Training chart, it is very obvious that you still have not discovered his 5-Method and the source where Big E took the components of another system he bought in the 1990s and used the components and renamed it his 5-Method.

Now, your next short term goal is to be able to trade like him according to his two posts below:

#557

I'm not looking for 15 pips profit... more like 150 !

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 REMEMBER THE DAYS WRINGING OUT MY HANDS FOR MY $500 ACCOUNT... THE SKIES FALLING ! Help, help, help.

If I enter a trade lets say and I'm monitoring the trade and its up 50 pips but suddenly it pulls back 10-15 pips I just exit. I'll keep the profit at $10 a pip... no big deal. If it turns and continues (bounce) I'll just jump back in... Don't get so rigid...

Evidently I missed something while looking at the set up and it's cut me short.... there are always set ups on different timeframes... different pairs. I'll study the trade I jumped out of for the answer so I don't make the same mistake again hopefully..

If your worried about the money in your account how are you going to pull the trigger with confidence? They tell you from the get go the money in your account shouldn't be money you need... otherwise don't trade...

Learning the fx market is like going to school. It costs to go to school and your pip money for trades is what you use to learn. When you have a reliable method and confidence... the market starts to pay you for your education expenses... profit.

The only reason I deposited that amount is because I trade full lots and some trades have 2-4 lots on a trade... or I'll add additional lots as the trade is in progress.. no big deal...

I'm in this because it's fun, keeps my mind active and I'm good at it. Pretty cut and dried...


#7555

I started trading full lots last year... tiring of $1 a pip. Takes the same amount of work... why not get paid for it? Often shooting for $500-$1,000 PER EVENING.

iT'S NOT UNCOMMON TO FIND 3-6 TRADE SET UPS PER EVENING.

Sometimes I would set the TP to 20 pips. 3-6 pairs hitting 20 pips... a few losers maybe... made for a handsome profit.

If I put all of my eggs in one basket... it was hit or miss....

I trade both ways with success...


<>

Good luck!
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #132,177
  • Jun 12, 2022 4:42pm Jun 12, 2022 4:42pm
Quoting tommydoginti
{quote} Hi Emmanuel, Thanks for your interest in my trading. BigE's Trading Made Simple is indeed simple and effective. A couple of advice to you. 1) Follow BigE's #647 for PA. BigE has spent 2 years to distil his years of trading experience into a Trading Made Simple method. #495 Starting out you should be 60-65% successful. Within 1 to two months you should be 70-80% successful.. IF... you follow the simple rules and simple exits... 3-6 months... 85% successful. Don't complicate it... keep it simple. Buy your wheel barrow.. What I been advising...

hey @tommydog

Big E' Post#647 suggests that you go back to babypips.com and learn the basic forex stuff.

But the last 11 years in this thread I observed that many still cannot have not learn enough to have a complete understanding how to apply that Post#647.

I have a solution for you since you only started your trading journey less than 2 years ago.

below is link to Sive Morten' Forex Military School

<>
Sive Morten' Forex Military School is excellent ... some say better than babypips school-of-pipsology.

For those who completed Big E Post#647 and want to learn more,

here is where you can consider on your trading journey:

https://www.forexpeacearmy.com/forex...ilitary-school

Learn EVERYTHING. But you don't need use EVERYTHING to make $5000 this week.

<>
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #132,178
  • Jun 12, 2022 4:47pm Jun 12, 2022 4:47pm
USDJPY Week 24 June13 to Jun17

- anything can happen this week and the weeks after

- have your done you trade plan and know the news/economic calendar events ?

- when and where will the June rally end?

Monthly

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Weekly close Jun10

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...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #132,179
  • Jun 12, 2022 4:52pm Jun 12, 2022 4:52pm
Quoting emmanuel7788
{quote} UPDATE: May21 hey Fake'Dr'Dave be patient ... very very very patient it is only Year 2 still running now in 2022. you must wait for Year 3 to be completed which will end in Sep 2023. I'll show you how to trade a $10,000 account and make $100,000 in less in 3 years trading cycle. May20 after New York Closed 5pm , a 'sneek peek' 579 trades done.

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{image}
'sneek peek'

June 10 after New York Closed 5pm EST,

810 trades closed

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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #132,180
  • Jun 12, 2022 5:31pm Jun 12, 2022 5:31pm
GBPJPY DAILY
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Cut your losses. Cut your losses. Then maybe you have a chance
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