Simplicity is the ultimate form of sophistication ( Elite ) | Page 39 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Why are we afraid of simplicity? 96 replies

Simplicity is the Ultimate Sophistication 814 replies

Signals for Simplicity 1,144 replies

Elite's Simplicity: Cognitive Process of Technical Analysis (The holy enlightenment) 21 replies

The Journal of Simplicity Trade 12 replies

Attachments: Simplicity is the ultimate form of sophistication ( Elite )
Exit Attachments

Simplicity is the ultimate form of sophistication ( Elite )

  • #761
  • Aug 19, 2008 7:41am Aug 19, 2008 7:41am
Quoting lite27
I personally, find this system very bad on ranging market and not the best one on trending market. So, my opinion is,that this system can not be used as the main system, but just as a secondary system. But it is just my opinion,guys. Sorry for my pessimism,
Again ? ...

No, just a small reflexion. I think than founding a trading system who suit to you is a personal research. Maybe you think it's a bad system, but for me it's a strong and simple system, and i use it as main system...

Don't be too much pessimist, and try other...

good luck !
  • #762
  • Aug 20, 2008 12:02pm Aug 20, 2008 12:02pm
Dear Flamenco, you speak about 10-15 pips stop loss and 50-200 pips of profit. Can you,please, tell me what time frame do you use? where do place your stop loss and take profit target? What is your winners/losers rate with this system? Thank you and many pips! Greetings,
  • #763
  • Edited 6:12am Aug 22, 2008 2:54am | Edited 6:12am
Quoting lite27
Dear Flamenco, you speak about 10-15 pips stop loss and 50-200 pips of profit. Can you,please, tell me what time frame do you use? where do place your stop loss and take profit target? What is your winners/losers rate with this system? Thank you and many pips! Greetings,
What I was referring to was that when you have false breakouts in a ranging market you usually lose about 10 to 15 pips before you exit the trade once it sinks in that the pair isn't going anywhere.

But when the market is trending you can frequently bag 50 + pips. The problem is (with ANY system/strategy that I've ever seen) is you NEVER know when that break-out is going to reverse on you OR climb and put boucoup pips in your account.

The markets have been acting weird lately because the Big Dogs are doing things I don't understand or know anything about. We - as small traders are just chasing their tails. Meanwhile I went back to scalping and not worrying about big moves - trends - or indicators.

In essence, what I'm saying is that I'm confused, as most strategies I like and use are not producing profits on the smaller time frames (15M to 4hr) at the present time. I'm only making profits on 1M & 5M time frames, OR on daily time frame only.
  • #764
  • Sep 5, 2008 3:16pm Sep 5, 2008 3:16pm
Has anyone put out an ea for the Elite System? Looks like it would be pretty easy.
  • #765
  • Sep 11, 2008 10:30am Sep 11, 2008 10:30am
Hi All,

Just introducing myself. Going to start trading elite system now and document it with a trade journal. I have known Waterflame for a fair amount of time now and I know his system works. I am just adding 4 things to my way of trading elite that I see helps. Will let you guys know as I progress my wins and losses.

I have a little more stricter entry so it might filter out some trades you have taken (good or bad , either way it will just do that). I am gonna be tied up with personal stuff in the next month but will try get trading when I can and post results here after each 10 trades.

Nice to "speak" to everyone. See you in tradingrooms and irceforex soon,.

Chris(En0X)

PS, Waterflame you are the king
Survive and Preserve
  • #766
  • Sep 11, 2008 3:06pm Sep 11, 2008 3:06pm
Hi en0x,

Please be so kind and explain to us what the 4 things are that you add to the elite system for your own trading.

Christoff
  • #767
  • Sep 11, 2008 10:34pm Sep 11, 2008 10:34pm
I dont want to change Elite as elite is fine as it is but with my personal trading I trade with a 50ema, 150, 200 and 365 ema.

I wont take trades if the cross happens too close to an ema as I find that more often then not price rides those emas while in the trend. I prefer to have the cross happen quite some distance above it to allow for movement.

Anyways, will post results of every 10 trades here.
Survive and Preserve
  • #768
  • Sep 12, 2008 6:10am Sep 12, 2008 6:10am
What a magnificent system!!!

I started reading yesterday, and after 20 pages was so impressed, that today I traded live account with it.
More than 70 pips just one trade.
You are a good generous person and I wish you the best,
Lietuve
  • #769
  • Sep 12, 2008 6:17am Sep 12, 2008 6:17am
Quoting lietuve
What a magnificent system!!!

I started reading yesterday, and after 20 pages was so impressed, that today I traded live account with it.
More than 70 pips just one trade.
You are a good generous person and I wish you the best,
Lietuve
you should never do that ! trade live with a new system you've read about.
demo it for at least 3 months to make sure you understand and apply it thoroughly.
this my advice. take it or leave it.
Twitter: @forexpokerpro
  • #770
  • Sep 14, 2008 2:00am Sep 14, 2008 2:00am
Quoting BBPI_fxtrader
you should never do that ! trade live with a new system you've read about.
demo it for at least 3 months to make sure you understand and apply it thoroughly.
this my advice. take it or leave it.
Thanks, BBPI for warning, but I really don't know what's there to understand - a few simple rules, all on the first page? The crossower of two MAs?
It doesn't take long to make a simple template and go through few months or even a year of charts calculating the possibilities, how many trades would have won, how many trades would have lost, and what is the ratio of wins and losses? Basically all MAs crossovers work in trending markets and they don't work in ranging markets. Trends don't last forever, so just ouwait the period of range and then go on again.
What is there to study for the whole 3 months?
I have worked a lot with MAs crossovers, the difference is that this one is so finely tuned up.
I understand you meant well so thank you for the warning. On the other hand simple things are simple so there is no need to overcomplicate them, that's my opinion.
I am posting that trade.
Regards,
Lietuve
Attached Image (click to enlarge)
Click to Enlarge Name: simplicity.jpg Size: 124 KB
  • #771
  • Sep 14, 2008 12:13pm Sep 14, 2008 12:13pm
Hello Lietuve

What's your setup for fibzones ?
Thanks
  • #772
  • Sep 14, 2008 11:40pm Sep 14, 2008 11:40pm
Quoting cmfxmen
Hello Lietuve

What's your setup for fibzones ?
Thanks
Hi, cmfxmen, the answer is 5.
It defines ranges pretty nicely, doesn't it?

Cheers,
Lietuve
  • #773
  • Sep 15, 2008 3:46am Sep 15, 2008 3:46am
lietuve, can you post the fibzone indicator
  • #774
  • Sep 15, 2008 1:01pm Sep 15, 2008 1:01pm
Quoting perfect
lietuve, can you post the fibzone indicator
Sure, with pleasure.

Lietuve
Attached File(s)
File Type: mq4 buy zone fibs.mq4   5 KB | 788 downloads
File Type: mq4 sell%20zone%20fibs[1].mq4   5 KB | 790 downloads
  • #775
  • Sep 19, 2008 4:09pm Sep 19, 2008 4:09pm
Thanks for the upload
  • #776
  • Sep 20, 2008 3:39am Sep 20, 2008 3:39am
Quoting lietuve
Sure, with pleasure.

Lietuve
Hello Lietuve

Thank for answers look the setup it's ok ? Can you explain a litle more when you entry exaclty with this setup if you can post a few charts of your entry with explanation that will cool

thanks
Regards
Attached Image (click to enlarge)
Click to Enlarge Name: Sprite 6.gif Size: 156 KB
  • #777
  • Sep 20, 2008 5:45am Sep 20, 2008 5:45am
This system is pretty amateur and simple, its great for newbies, but advanced traders, their totally aware that crossover systems are kinda ancient .

Good luck 2 you all
  • #778
  • Sep 20, 2008 12:27pm Sep 20, 2008 12:27pm
Has anyone attempted to put together an Elite EA yet?
  • #779
  • Sep 23, 2008 1:05am Sep 23, 2008 1:05am
Quoting cmfxmen
Hello Lietuve

Thank for answers look the setup it's ok ? Can you explain a litle more when you entry exaclty with this setup if you can post a few charts of your entry with explanation that will cool

thanks
Regards
Hi cmfxmen,

Sorry for beeing so late to respond. I wasn't at home for quite a few days. The way you posted fibs ind looks ok on the chart, but I use it with the input MAperiod of 5. During the bigger trend it supports the trend nicely, so I don't have to be so jumpy during the longer trend. In ranges I use this indicator to play ranges, i.e. sell at upper band and buy at the lower band. I use this indicator mostly to trade during the ranges. It is not exactly what Waterflame's system is designed to do, and I don't want to mess up somebody's thread with my ways of trading, but if you want to PM me, I can share what I am doing to define trend, you use your own judgement. And, of course, there are periods of time I don't know what's going on, during these periods I simply do not trade at all.
Regards,
Lietuve
  • #780
  • Sep 23, 2008 1:13am Sep 23, 2008 1:13am
Quoting dznmrd
This system is pretty amateur and simple, its great for newbies, but advanced traders, their totally aware that crossover systems are kinda ancient .

Good luck 2 you all
You are absolutely right, it is a pretty amateur and simple system, on the other hand did you ever asked yourself why MA crossover system beeing so ancient is still in play and even very experienced traders like Alexander Elder are using it? KISS
Good luck to you too.

Cheers,
Lietuve
2 traders viewing now