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Trading Made Simple system follower - Thanks to eelfranz 9 replies

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Trading Made Simple

  • #281
  • Apr 27, 2011 4:32pm Apr 27, 2011 4:32pm
Don't get fired ! Just make the necessary transition to trading 4hr charts during the London session... or Daily charts.
  • #282
  • Apr 27, 2011 4:46pm Apr 27, 2011 4:46pm
Here are three Daily trades I Put on Today. The EurJpy was this morning and is up 90 pips. The GpbJpy and UsdJpy were put on at candle change at 5 pm EST and are both already positive by 12 to 15 pips.

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Attached Image (click to enlarge)
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Attached Image (click to enlarge)
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Always Learning
  • #283
  • Apr 27, 2011 5:06pm Apr 27, 2011 5:06pm
Here is a daily chart... entries marked with vertical lines... It's easy on this timeframe too...
Attached Image (click to enlarge)
Click to Enlarge Name: e-u daily.gif Size: 35 KB
  • #284
  • Apr 27, 2011 5:10pm Apr 27, 2011 5:10pm
Quoting eelfranz
For you newer folks... Trading the London Session is the best in my opiniion... lots of movement. Unfortunately it starts late at night in the United States.

[font=Comic Sans MS][size=3][color=#0000ff]That's a major reason you want to learn trading the 4 hour or Daily charts using this method. If your serious you'll use an alarm at the next 4hr candle that appears. It will only take 10 min. to check for trades you need...
Somebody posted a chart before with colored vertical session lines & labels...looked really useful for looking back at trades for each session. Anybody have that indicator to post?

TIA
  • #285
  • Apr 27, 2011 5:14pm Apr 27, 2011 5:14pm
The chart above... I was hoping to go thru the trades however when your posting you can't see the chart... duh !

Anway... congrats on the charts above mine on the Daily charts and you were raking in the pips too I see...

Quit making excuses.. if it was any simpler there wouldn't be a method... it's bare bones now. Simple rules, easy TDI entries and exits... fine tune it to your understanding... don't add anything... don't complicate it.

Many traders on the old thread said once they quit trying to improve it or making it more complated... their pip take exploded.
  • #286
  • Apr 27, 2011 5:21pm Apr 27, 2011 5:21pm
Quoting eelfranz
Here is a daily chart... entries marked with vertical lines... It's easy on this timeframe too...
Do you trade this on the daily charts with equal success?

If so it begs the question, why even bother with 4H trades?? On daily per the rules one would only have to check for entries and on trades once per day.

Also, the london session 4H is 3 AM for me. Honestly I'd rather not get up at 3 AM, just to demo.

After the US session open (which you recommend not to trade), what hours do you recommend looking for trades???

My next 4H candles after US open are at 11 am and 3 PM and 7 PM.

If there is an entrance signal during those times is there enough juice to take a trade???

If I can't do london session am I better off just doing daily trades???
  • #287
  • Apr 27, 2011 5:24pm Apr 27, 2011 5:24pm
Quoting eelfranz
Here is a daily chart... entries marked with vertical lines...
Are the vertical lines drawn manually? Thanks.
  • #288
  • Apr 27, 2011 5:25pm Apr 27, 2011 5:25pm
Hi Cliff and Trading made simple crew,

You have sparked my interest with your system for sure! I have down loaded all (successfully), of the Indies but can't seam to get the damn think to work on my demo acc. Meta trader 4 (Forex.com platform).

Know, I'm not a computed programmer, but no dummy either. WTH am I doing wrong?

Please give me a bit of help here or PM me..

Cheers!

Chillypiper

Quoting cce
I'll attempt to post the current template set up I'm using. Included are indies I use. Set to default. Included a pic as well. Change the colors as you like. Test loading worked ok for me. I'm using FXDD platform.
Good trades to all.
Cheers.
Cliff
  • #289
  • Apr 27, 2011 5:33pm Apr 27, 2011 5:33pm
USD/CHF short; H1-Chart; +32 pips

thanks again
Attached Image (click to enlarge)
Click to Enlarge Name: 20110427 usdchf trade 03.gif Size: 30 KB
  • #290
  • Apr 27, 2011 5:37pm Apr 27, 2011 5:37pm
I can't say I am happy about you posting this method eelfranz. I stumbled upon the TDI about two years ago and have been trading it exclusively almost exactly the way your 5 method does. I am now worried that if too many traders start doing it somehow it may stop being so effective.

Anyway, there is an even more reliable trade using the TDI that you haven't shown. You do need the yellow line that you have removed from your template. It is a shorter term pullback trade and it involves a crossing of the green over the yellow BEFORE crossing the red. It doesn't happen a lot and there are other filters needed but it is about 90% successful for me.
  • #291
  • Apr 27, 2011 5:56pm Apr 27, 2011 5:56pm
Hi Sponge-I just had to comment .....as I'm certain you know that between 3-4 TRillion is traded each and every day. It is the largest and most liquid market in all the world. Congrats on your success with trading the TDI way.....Long live the forex market! Susan~
  • #292
  • Apr 27, 2011 6:00pm Apr 27, 2011 6:00pm
eelfranz

Wanted to say you and the '5 club' members are doing a great job and a valuable contribution to the community here

There is this talk here on lower vs. higher tf trading. well if you look at it mathematically the RISK per pip grows higher, the lower the time frame!
sounds paradoxical I know but it's risk distribution (can talk about it lil bit more if anybody wants). Newbies would to better to concentrate on 4H and above and use proper money management with this system (well, with any system that is) to gain longevity.

You have to have an extremely successful strategy to make it on the 5 Mins on the long run (Divergence's system in the forum is one of those rarities) and it has to be taken prudently on fractions of the movement while monitoring-manage on screen; you can't just walk away for a nap cos you might be deep in a hole by the time you open your eyes again. also, short term strategies may not work as good on other pairs and may need adjustments and so on...

fundemental
  • #293
  • Apr 27, 2011 6:06pm Apr 27, 2011 6:06pm
Hey Kumo.. keep your shorts on buddy...

Just for me personally... I trade with FXDD and it's daily update is at 2pm my time... almost always the market is flat and really doesn't pick up for another 8-10 hours... and I kill my trades at about 6am my time Pacific because the market is getting ready to range again.

I really don't want to be in the market at dead times... after all it's my money on the line...

I can appreciate the fact you don't want to get up but it's a difference of trading style and preference... nothing more.

I'll have my butler unlock the Daily charts so anyone can trade them. Didn't realize I had a gun to your head... sorry buddy.

I'm just explaining how I do it and why... nothing more. I fill my wheel barrow often with pips and that's what counts to me...

Just trying to help other traders succeed...

  • #294
  • Apr 27, 2011 6:08pm Apr 27, 2011 6:08pm
Mary4,

I put in the verticle lines using the TDI to indicate entries using the rules for our method... thanks for asking...
  • #295
  • Apr 27, 2011 6:11pm Apr 27, 2011 6:11pm
Cliff...

Could you help Chilly in post 288. Thanks...
  • #296
  • Apr 27, 2011 6:12pm Apr 27, 2011 6:12pm
Quoting eelfranz
Hey Kumo.. keep your shorts on buddy...

Just for me personally... I trade with FXDD and it's daily update is at 2pm my time... almost always the market is flat and really doesn't pick up for another 8-10 hours... and I kill my trades at about 6am my time Pacific because the market is getting ready to range again.

[font=Comic Sans MS][size=3][color=#0000ff]I really don't want to be in the market at dead times... after all...
LOL you misunderstand I was only looking for advice based on your experience with TD, and if you had been actually trading it on daily charts, or were just pointing out how good it looked on daily charts.

And if so, why go between trading 4H and daily, since if daily is working well it would actually be even less stress/hassle than 4H trading.

P.S. I just made my fonts big because you said you had vision issues. Didn't mean to seem like I was internet shouting.
  • #297
  • Apr 27, 2011 6:13pm Apr 27, 2011 6:13pm
First, thanks again for starting this thread - as of now, there are 97 people viewing it. Awesome.

A few posts back, mention was made of Silver - has anyone tried the 5 method with anything other than currency? Gold, Silver, Oil, Grains, even stocks?

Thanks!
Read the entire thread BEFORE you ask questions!
  • #298
  • Apr 27, 2011 6:14pm Apr 27, 2011 6:14pm
SpongeWorthy...

Could you mark and post a couple of charts for us. Thanks buddy...

  • #299
  • Apr 27, 2011 6:17pm Apr 27, 2011 6:17pm
Susan... Amen !
  • #300
  • Apr 27, 2011 6:17pm Apr 27, 2011 6:17pm
eelfranz - this is getting fun again after 3 years of up again and down again performance. In a typical trading day I might exchange 150 pips - 70 up and 80 down.

I'm so excited about this simple logical approach that I'm finally going to fund a small trading account next week - - thank you so much.

I also think that one needs to be beat up before finally succumbing to an easy system that works - - because it goes against logic - something this simple can't possibly work....right? WRONG!!!

Fever
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