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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

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Trading Made Simple

  • #133,081
  • Jul 21, 2022 7:26pm Jul 21, 2022 7:26pm
Quoting Alihelmy123
{quote} in long time frame like daily i wait for candle color change MOST OF THE TIME FOR ME I RISK NO MORE THAN 1% BECAUSE I FOCUS IN HOW MUCH I RISK THAT I CAN CONTROL NOT THE PROFIT I PUT MY STOP LOSS AT THE HIGH OF LAST CANDLE IF THE MARKET CHANGE AND CANDLE COLOR CHANGE AND IT DONT HIT STOP I WILL GO OUT QUICKLY WITH SMALL LOSSES OR SMALL PROFIT IF THE MARKET IN MY WAY I STILL IN IT UNTIL COLOR CHANGE THE MOST OF TIME I DO THIS
Roger that. SL at the high/low of last candle with 1% risk.
As long as the candle does not change color, you stay. I assume this is the heikin ashi candle you are talking about.
Thank you man.
  • #133,082
  • Jul 21, 2022 7:28pm Jul 21, 2022 7:28pm
Quoting DrDave
{quote} I take 10 pips seriously. In fact, my first post to really make the point was in November, 2011. {image}
Hi DrDave. What method or system do you recommend to achieve 10 safe pips per day?

thanks in advance
  • #133,083
  • Jul 21, 2022 7:34pm Jul 21, 2022 7:34pm
Quoting eelfranz
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 ...

Here another quick backtest on Daily

here is my quick back-test, >>> No TDI just HA candles price action

EJ Daily Jan 01 to Jul 21 2022

- use ADR for SL and TP
- SL 1.0 adr TP 3.0 adr Risk : Reward 1:3

- move SL to BE after +1.5adr lock
- exit let TP hit
or
exit when HA candle change colour

position sizing use risk 10% of balance (Big E risk is 15% to 30% per trade, 2 to 4 standard lots)

test results:

Attached Image (click to enlarge)
Click to Enlarge Name: EJ Daily Jan 01 to Jul 21 results 22-7-2022 8-27-10 am.png Size: 36 KB


Just think of when your system strategy requires you trade 5 pairs at the same time during one trading cycle, how much trading margin $$$deposit you need to have in your broker account.

Do you need 5 times USD10,000?


...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #133,084
  • Jul 21, 2022 7:38pm Jul 21, 2022 7:38pm
Quoting Naferkill
{quote} Hi DrDave. What method or system do you recommend to achieve 10 safe pips per day? thanks in advance

his risk:reward is 100:1

he risk 100 pips just to make 10pips.

can you mentally take this high risk?

his IMT win rate is this nonsense below:

- 98.38%

Attached Image (click to enlarge)
Click to Enlarge Name: FakeDr TE win rate.png Size: 52 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #133,085
  • Jul 21, 2022 8:12pm Jul 21, 2022 8:12pm
Quoting Naferkill
{quote} Hi DrDave. What method or system do you recommend to achieve 10 safe pips per day? thanks in advance

here is an example of @Fake'Dr'Dave ' IMT failed trading system when he risk 100pips for 10pips,

Risk:Reward 100pips : 10pips

its a very slow.... death from Jun 01 to Jul 21

GU M15

Attached Image (click to enlarge)
Click to Enlarge Name: GU M15 risk 100 reward 10 22-7-2022 9-09-24 am.png Size: 9 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #133,086
  • Jul 21, 2022 9:39pm Jul 21, 2022 9:39pm
USDCAD Daily Jul22

- example using ADR(100) for SL and TPs

- sell entry Jul19 Day Open, HA PA Jul 18 HA candle changed colour and closed.

- SL is minus 1.0ADR ~98pips

- will market hit 12800? when ?

Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD Daily Jul 22 example ADR SL TP 22-7-2022 10-36-09 am.png Size: 29 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #133,087
  • Jul 22, 2022 1:49am Jul 22, 2022 1:49am
Quoting Naferkill
{quote} Hi DrDave. What method or system do you recommend to achieve 10 safe pips per day? thanks in advance
Really, nearly any system that is not extreme scalping for 1 or 2 pips can yield 10 pips for you. It needs to include a means to measure volatility to see that the current volatility is likely to give movement in your direction within 2 bars. Also, the system should be able to reliably give entry signals that consistently result in price reaching your 10 pips TP before a retracement occurs that is large enough to hit the SL.

As for specific systems, the 5- method with a bit of additional filtering can be used successfully. Also, most of the 5-method offshoots are also capable. The filtering is needed because BigE focused on the immediate volatility increase on a single TF, using no SL and risking a significant portion of his account. (Vincent has tried to emulate BigE's style, and you have seen how he repeatedly blew accounts with thousands of dollars lost.)

If you find a mult-timeframe system, it will likely give you better results than an essentially single TF system like the 5-method.
To free Gazans of Hamas, use whatever it takes.
  • #133,088
  • Jul 22, 2022 2:19am Jul 22, 2022 2:19am
Its going to be another 'crazy' Friday

Eur vs Gbp

Euro stays above parity

sell GU 12000ish, target profit 70pips

Attached Image (click to enlarge)
Click to Enlarge Name: FF New Eur vs GBP 22-7-2022 3-17-52 pm.png Size: 25 KB


...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #133,089
  • Jul 22, 2022 2:27am Jul 22, 2022 2:27am
Quoting Naferkill
{quote} Hi DrDave. What method or system do you recommend to achieve 10 safe pips per day? thanks in advance
@Naferkill

Wrong person to ask @Fake'Dr'Dave

If you want to scalp then the OP of this thread with his +15 years trading experience has all the answers to new traders.

Big E on scalping:

"scalp it on a 4hr chart if I get a set up..."

"Even if I scalp the market I use 4hr charts with success...."

https://www.forexfactory.com/thread/...28#post4575828

https://www.forexfactory.com/thread/...56#post4569656

https://www.forexfactory.com/thread/...04#post4517204

https://www.forexfactory.com/thread/...10#post4423010

https://www.forexfactory.com/thread/...94#post3303994

Try it!
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #133,090
  • Jul 22, 2022 2:37am Jul 22, 2022 2:37am
Quoting Naferkill
{quote} Hi DrDave. What method or system do you recommend to achieve 10 safe pips per day? thanks in advance
When you evaluate a system, check if there is a win:loss record, because you want to have a high probability of winning trades. Don't be fooled by people that post "I take only the high probability [of winning] AAA+ setups", but then they post about their 65% success rate. Last time I checked, "high probability" would be in the 75%-90+% range, not a mere 65%.

So with a long-term 65% success rate, CLEARLY that cannot, by definition, be a "high probability" system. Check for yourself, if the data are even made available, the high drawdown and blown accounts for these 65% systems. Don't be surprised to find that they are essentially gambling systems that REQUIRE wins that are 3X and more of the amount risked in order to cover the many large losses incurred from "high probability" (LOL) entries that fail miserably. This is why these low win rate systems typically have total profits whipsawing around 0 over the long term.
To free Gazans of Hamas, use whatever it takes.
  • #133,091
  • Jul 22, 2022 3:00am Jul 22, 2022 3:00am
Quoting Naferkill
{quote} Hi DrDave. What method or system do you recommend to achieve 10 safe pips per day? thanks in advance
By the way, don't pay too much attention to Vincent's rants and attacks on other forum members. He has posted that he has a lot of problems, including mental illness, so clearly, his mental problems are often in control of his bad behavior.

You will see fake images that he posts to try to fool you into believing things that are easily proven to be faked or outright lies if you do your own fact checking. For example, much of the supposed IMT data/statistics that he posts is part of his menagerie of fakes. I had an IMT Trade Explorer linked to the trading account for about 1 year with all trades and the relevant statistics for anyone to see that cared to examine it.
Here is an example of the real statistics:
Attached Image


This is why Vincent routinely has a mental meltdown when I post, because with his terrible trading and money management, he can hardly keep his net profits above 0, and, as he has posted, he blows accounts for thousands of dollars.
To free Gazans of Hamas, use whatever it takes.
  • #133,092
  • Jul 22, 2022 3:00am Jul 22, 2022 3:00am
Quoting emmanuel7788
{quote} @Naferkill Wrong person to ask @Fake'Dr'Dave If you want to scalp then the OP of this thread with his +15 years trading experience has all the answers to new traders. Big E on scalping: "scalp it on a 4hr chart if I get a set up..." "Even if I scalp the market I use 4hr charts with success...." https://www.forexfactory.com/thread/...28#post4575828 https://www.forexfactory.com/thread/...56#post4569656 https://www.forexfactory.com/thread/...04#post4517204 https://www.forexfactory.com/thread/...10#post4423010...

EJ Jul 22

even when I scalp I scalp the 4hr ... its now New York 4am

sell EJ 139.54

TP +70 pips
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #133,093
  • Jul 22, 2022 3:55am Jul 22, 2022 3:55am
Quoting DrDave
{quote} Really, nearly any system that is not extreme scalping for 1 or 2 pips can yield 10 pips for you. It needs to include a means to measure volatility to see that the current volatility is likely to give movement in your direction within 2 bars. Also, the system should be able to reliably give entry signals that consistently result in price reaching your 10 pips TP before a retracement occurs that is large enough to hit the SL. As for specific systems, the 5- method with a bit of additional filtering can be used successfully. Also, most of...
Hi Dave, this advice is useful for me too since I am trying to implement what you wrote back in 2011 about 10 pips. Thank you.
You're right, Big E is utilizing momentum and volatility.

Also I had a revelation about what you have probably figured out 11 years ago as well haha (d'oh, where have I been this whole decade).
It's about trying to reach that 10 pips ideally in one 1h candle.

So currently I am testing out this "volatility oscillator" on Tradingview and see how it reacts when a setup candle appears.
Or if you have any other way to filter the momentum needed for this 10 pip entry, I would be more than happy to hear and learn.
  • #133,094
  • Edited 5:19am Jul 22, 2022 5:08am | Edited 5:19am
Quoting jpntrader
{quote} Hi Dave, this advice is useful for me too since I am trying to implement what you wrote back in 2011 about 10 pips. Thank you. You're right, Big E is utilizing momentum and volatility. Also I had a revelation about what you have probably figured out 11 years ago as well haha (d'oh, where have I been this whole decade). It's about trying to reach that 10 pips ideally in one 1h candle. So currently I am testing out this "volatility oscillator" on Tradingview and see how it reacts when a setup candle appears. Or if you have any other way to...
So currently I am testing out this "volatility oscillator" on Tradingview and see how it reacts when a setup candle appears.

That's a good indicator. I think it's better than the angle indicator for the TDI. As an alternative you can use a good volume indicator. If
you use MT4 you can use this:
https://www.forexfactory.com/thread/...-download-free
  • #133,095
  • Jul 22, 2022 7:38am Jul 22, 2022 7:38am
I belive that yesterday's D1 candle is setup candle. If i am wrong correct me.
Can we enter short trade at open of today candle or we should wait till breakout of Mother candle?
Attached Image (click to enlarge)
Click to Enlarge Name: UJ D1.png Size: 42 KB
  • #133,096
  • Jul 22, 2022 7:50am Jul 22, 2022 7:50am
I took 5 trades this week i put all here live
one loss one profit and 3 still open in profit
Cut your losses. Cut your losses. Then maybe you have a chance
  • #133,097
  • Jul 22, 2022 7:51am Jul 22, 2022 7:51am
Quoting Alihelmy123
NZD USD DAILY{image} NZD USD 4HOUR{image}{image} GOOD TDI SLOPE BOUNCE TRADE NO MORE THAN IDEA
- 30 PIPS
Cut your losses. Cut your losses. Then maybe you have a chance
  • #133,098
  • Jul 22, 2022 7:51am Jul 22, 2022 7:51am
Quoting Alihelmy123
this is my fourth trade for this week no more than idea usdjpy daily{image}
TILL NOW +70 PIP
Cut your losses. Cut your losses. Then maybe you have a chance
  • #133,099
  • Jul 22, 2022 7:52am Jul 22, 2022 7:52am
Quoting Alihelmy123
Cad jpy 4 hour strong trend broken{image}return from daily resistance and good price action {image}{image}no more than idea
TILL NOW +40
Cut your losses. Cut your losses. Then maybe you have a chance
  • #133,100
  • Jul 22, 2022 7:53am Jul 22, 2022 7:53am
Quoting Alihelmy123
usdchf weekly pinbar{image} usdchf daily{image}{image} Usdchf 4hour double top broken {image}
TILL NOW +110
Cut your losses. Cut your losses. Then maybe you have a chance
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