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Trading Made Simple system follower - Thanks to eelfranz 9 replies

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Trading Made Simple

  • #61
  • Apr 25, 2011 10:23pm Apr 25, 2011 10:23pm
Quoting Knez
eelfranz,

could you please look at this chart taken from your post, and and let me know about the entry, please.

http://clip2net.com/s/UdaC

Thank you.

Did you see the pic I entered?
Trade Like a Robot make money Like a Bank
  • #62
  • Apr 25, 2011 10:26pm Apr 25, 2011 10:26pm
Quoting raz
Did you see the pic I entered?

Yes. Thank you.

What is the yellow MA on the chart please?
  • #63
  • Apr 25, 2011 10:31pm Apr 25, 2011 10:31pm
Sree1,

I'd say pick the charts you like to trade and understand their movements... breathing patterns...

I always like to have the E/U, G/U and A/U side by side on top plus one more chart. Those three charts tend to move together in the same direction. So if I see a set up on one I usually find a set up on one or both on the other pairs. I've made a lot of pips trading all three at the same time.

I usually include 2-3 Japaneese charts... a Usd/Cad chart. Always end up with 8 charts on one page.

Dean trades these on top...e/u, g/u e/j, a/u left to right and these below... left to right... u/chf, u/j, g/j , u/cad. Setting them up that way generally means the top chart is moving in one direction and the one directly below moves in the opposite direction...
  • #64
  • Apr 25, 2011 10:32pm Apr 25, 2011 10:32pm
so if the green line crooses up look for a buy ?if it crosses down look for a sell is this correct?
  • #65
  • Apr 25, 2011 10:38pm Apr 25, 2011 10:38pm
Not to be rude, but isn't this thread already well documented in the commercial section. Just looks like a re-hash if what is already there.
  • #66
  • Apr 25, 2011 10:40pm Apr 25, 2011 10:40pm
Raz...

Would probably been a small loss... we get them every here and there... everyone does no matter their method
  • #67
  • Apr 25, 2011 11:01pm Apr 25, 2011 11:01pm
Quoting eelfranz
Dean Malone @ www.compasfx.com trades a similar method but it's very conserative...
Yes I agree that he is conservative. I will follow your thread with interest.
  • #68
  • Apr 25, 2011 11:21pm Apr 25, 2011 11:21pm
Slushfund: Yes this method is derived from Dean Malones aproach using the channel. However, this thread is based on the experience of Big E who said he was losing too many pips getting late to the party waiting for channel and TDI midline crosses. Therefore he takes the TDI crosses as they occur. If you are a more conservative person you can wait until the candle closes above the 5 ema.

Kind regards
Ian
  • #69
  • Apr 25, 2011 11:25pm Apr 25, 2011 11:25pm
Quoting ozziedave
Not to be rude, but isn't this thread already well documented in the commercial section. Just looks like a re-hash if what is already there.
Hi Ozziedave
Many members of the original forum suggested to eelfranz that he set up a forum to focus on the 5 Method. Personally I would have preferred a name that included 5 method. The present name sounds too commercial and generic for me and it is anything but commercial as eelfranz has given unselfishly of his time to explain this method.

Also the 5 method has moved on slightly from where it started and so it is a good idea to have this new forum.
  • #70
  • Apr 26, 2011 12:42am Apr 26, 2011 12:42am
Thanks to all for their contributions to this excellent system!
  • #71
  • Apr 26, 2011 12:50am Apr 26, 2011 12:50am
Hi Big E,
I have read from you previous threads that you have to switch profiles/charts to view 40 charts, this is very tiring, so I am offering to readers a simplified methods to view the PA of the currency pairs.
Chart 1 is a bird's eye view of 28 currency pairs.
Chart 2 is your selective 9 currency pairs.
Chart 3 is a MTF for 3 currency pairs.
The templates are attached below, however you need to download the FREE version of pipware minicharts v3 from Pipware.com.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 28 currency pairs H4.jpg Size: 128 KB
Click to Enlarge Name: 9 currency pairs H4.jpg Size: 93 KB
Click to Enlarge Name: 3 currency D1-H4-H1-M15.jpg Size: 93 KB
Attached File(s)
File Type: tpl minicharts 28cc h4.tpl   571 KB | 7,246 downloads
File Type: tpl minicharts 9cc h4.tpl   402 KB | 8,299 downloads
File Type: tpl minicharts 3cc mtf.tpl   456 KB | 7,436 downloads
  • #72
  • Apr 26, 2011 1:25am Apr 26, 2011 1:25am
Took a long on the 2nd green candle. on an hourly chart.
Attached Image (click to enlarge)
Click to Enlarge Name: 042611eu.gif Size: 34 KB
  • #73
  • Apr 26, 2011 1:36am Apr 26, 2011 1:36am
Also took th EU hourly trade as well. Using fib pivots for my exits instead of recommended exit strategy.
  • #74
  • Apr 26, 2011 3:03am Apr 26, 2011 3:03am
EURUSD, H1, 2011 April 26

DR1 1.4629 has been reached. IO swiotch through the timeframes (M5/M15/M30/H1/H4).

H4 has room further upside. If so then I would take one more short again.

Short @ 1.4620

...and will hedge further upsides at M5
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD, H1, 2011 April 26.jpg Size: 334 KB
  • #75
  • Edited 3:19am Apr 26, 2011 3:09am | Edited 3:19am
Merçi Eelfrance for this excellent work!

This System is simple, efficient & practicable.

...and the indicators don't slow down the PC processor.

Best regards
FXcube
  • #76
  • Apr 26, 2011 3:27am Apr 26, 2011 3:27am
Quoting eelfranz
Entries and exits...

We Enter a trade when green crosses red on the TDI at the beginning of that candle... If it's candle 3 or more don't enter... find another trade set up. The only exception is if green bounces off red and continues... it's ok to re-enter on the bounce...

[font=Comic Sans MS][size=3][color=#0000ff]Exit your trade when the green TDI line goes flat, starts to hook over...


you see the problem here is how do you decide if the TDI is just bouncing off or crossing ? do u actually wait to see a clear cross ? if so, by that time 2-3 candles may have already passed and too late to enter trade.

how do u identify ranging markets ? you will get slaughtered.

stop loss of range of previous two candles - what if this stop loss is too small ?

if you just use the TDI to enter snd exit, then i don nt see the point of having the emas and the other indicators on the chart ?

can u tell us the settings of the TDI and other indicators....

also can you post some results for at least 2 months live trades...
  • #77
  • Apr 26, 2011 3:43am Apr 26, 2011 3:43am
Quoting eelfranz
Entries and exits...

We Enter a trade when green crosses red on the TDI at the beginning of that candle... If it's candle 3 or more don't enter... find another trade set up.
Hi!
Great thread! This strategy looks interesting.
Could you, please, tell what is "candle 3"?
Thank you.
  • #78
  • Apr 26, 2011 3:57am Apr 26, 2011 3:57am
Hi pls read first post for TDI and other indicators,
Be cheerful!

Quoting whatfx
you see the problem here is how do you decide if the TDI is just bouncing off or crossing ? do u actually wait to see a clear cross ? if so, by that time 2-3 candles may have already passed and too late to enter trade.

how do u identify ranging markets ? you will get slaughtered.

stop loss of range of previous two candles - what if this stop loss is too small ?

if you just use the TDI to enter snd exit, then i don nt see the point of having the emas and the other indicators on the chart ?

can u tell us the settings of the TDI and other indicators....

also...
  • #79
  • Apr 26, 2011 4:02am Apr 26, 2011 4:02am
Quoting eelfranz
Is that possible? Yes.

Years ago when I retired I was looking for something to do. I attended a free local presentation about trading FX. My mind said "We can do that and make money too... from the recliner"... so the torture began as happens to all newbies...

Ah... A new home. Grrrrreat!

LETS ROCK THIS PLACE!!!

JD
It's Easy To Get In;.. It's Hard To Get Out
  • #80
  • Edited 5:17am Apr 26, 2011 5:05am | Edited 5:17am
WhatFx,
Threw on a quick 4h chart here to show how simple entries can be...
All are 1st or 2nd candle entries...
The same setup applies to lower or higher TF's as well...
Shows a clear cross in each example...
SL can be last HH or LL if left unmonitered...
If monitoring, then the TDI green line's movement will get you out of a Ranging Market as it begins, i.e., it will flatten and or hook signaling to close the trade....
The 5 EMA helps to show direction and strength of the market, kind of like a line in the sand...
Results for this trading approach are well documented in the Craig Harris Thread that this method evolved from. A bit of a long read but does help you appreciate how finely tuned the Trading Made Simple method has become.
Good trades and hope this explanation helps you in your trading...
Cliff


Quoting whatfx
you see the problem here is how do you decide if the TDI is just bouncing off or crossing ? do u actually wait to see a clear cross ? if so, by that time 2-3 candles may have already passed and too late to enter trade.

how do u identify ranging markets ? you will get slaughtered.

stop loss of range of previous two candles - what if this stop loss is too small ?

if you just use the TDI to enter snd exit, then i don nt see the point of having the emas and the other indicators on the chart ?

can u tell us the settings of the TDI and other indicators.......
Attached Image (click to enlarge)
Click to Enlarge Name: sssss.jpg Size: 143 KB
I get exercise just pushing my luck
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