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Trading Made Simple the right way, and other trading lessons 334 replies

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Trading Made Simple system follower - Thanks to eelfranz 9 replies

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Trading Made Simple

  • #301
  • Apr 27, 2011 6:27pm Apr 27, 2011 6:27pm
Fun...

You hit the nail on the head with your comment.

Most new traders are terrified to think about trading 4hr & Daily charts. I know I was many years ago... but I didn't have a plan on how to successfully attack it either. We are bring that info to our readers..

Stop trading lower time frames if you really want to make money.

When I finally got sick and tired of making $1 a pip I switched to 4hr charts and trading full lots.

I've spent a lot of money and thousands of hours studying and it was about time I got paid for it... and I do using our method.
  • #302
  • Apr 27, 2011 6:34pm Apr 27, 2011 6:34pm
Kumo...

No problem buddy...

I guess what I don't like about the Dailys they have big pull back often and on a Daily chart that is a lot of pips... and as always I hate giving 1 pip back to my broker...

I'll do more research on it... Thanks...
  • #303
  • Apr 27, 2011 6:36pm Apr 27, 2011 6:36pm
Eelfranz, please confirm my picture below.

Is that a valid sell set-up? if so, then when I open sell on the next open candle, I'll get loss, so my stop loss is on the next buy signal (cut sell when new candle open, and go open buy)

is the logic correct?

And how about the second picture? Do I mark the signals correctly? so I'll open on the next open candle after vertical line? thanks
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: confirm2.gif Size: 29 KB
  • #304
  • Apr 27, 2011 6:39pm Apr 27, 2011 6:39pm
I used a demo account of 5k last night and let it run overnight. I waited for a good setup on M15. During the day I was testing at the M5 but I was getting negative pips because of the false signals, too much noise. So I switch to M15 (entry window) with D1,H4, H1 (in that order) as compass for trend direction.

3 Trades on M15: (as of this writing, havent closed the trade yet)
Silver 329pips
USDJPY 41pips
EURUSD 120pips

Attached Image (click to enlarge)
Click to Enlarge Name: eelfranz M15.png Size: 68 KB
  • #305
  • Edited 6:56pm Apr 27, 2011 6:42pm | Edited 6:56pm
Bom Bom...

Put a verticle line where you were talking about selling so I can line up PA & the TDI...

If the new candle appeared blue you would want to check your TDI again because your now looking at a long trade...

On your second chart... enter on the verticle line... not the next candle. I see a couple losses there too. Depends on time of day and if we're in consolidation or ranging too...
  • #306
  • Edited 7:00pm Apr 27, 2011 6:49pm | Edited 7:00pm
Quoting Bom-Bom
Eelfranz, please confirm my picture below.

Is that a valid sell set-up? if so, then when I open sell on the next open candle, I'll get loss, so my stop loss is on the next buy signal (cut sell when new candle open, and go open buy)

is the logic correct?

And how about the second picture? Do I mark the signals correctly? so I'll open on the next open candle after vertical line? thanks
Hi Bom-Bom!

May be this could also be a help for you.

Momentum and vola were high.

Wait till the candle bodies (not the wicks) were closed under the yellow line. If not stick to it upwards (let the win further run).

If you switch at Daily or Weekly charts additional often you'll get a more global picture of the main trend and you can prevent some false H4 signals, which every H1/H4 trading systems would generate when a mainly Daily or Weekly trend would be going on; on the other hand if you would switch at smaller time frames (M15, M30; H1) you could make some profits in this counterdirection market movements say with some intermediate hedging Short orders although by running the main order (Long) further up.

Kindest regards
FXcube
Attached Image (click to enlarge)
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  • #307
  • Apr 27, 2011 7:05pm Apr 27, 2011 7:05pm
ForexCube...

Thanks buddy.

I don't worry about PA crossing the 5 ema. I totally depend on the TDI for my entry signals... Always entering when green crosses red and only on candle 1 or two depending what the TDI shows... otherwise I pass and look for another set up...
  • #308
  • Apr 27, 2011 7:08pm Apr 27, 2011 7:08pm
Moldsz,

Congrats buddy... looking fabulous pip wise...
  • #309
  • Apr 27, 2011 7:18pm Apr 27, 2011 7:18pm
When you enter a trade using the TDI.. watch PA as it archs back and forth to the yellow 5ema line...

If it's arching back to the yellow line... don't panic and just jump out.. IF PA looks strong around the 5ema line... stay in the trade until the TDI tells you different (exit rules)... Give your trades some latitude to breathe... use your brain... does PA still look good? No small candles forming? Flow with your trades... Demo until you build confidence... study old charts...
  • #310
  • Apr 27, 2011 8:04pm Apr 27, 2011 8:04pm
Quoting eelfranz
ForexCube...

Thanks buddy.

I don't worry about PA crossing the 5 ema. I totally depend on the TDI for my entry signals... Always entering when green crosses red and only on candle 1 or two depending what the TDI shows... otherwise I pass and look for another set up...

Sorry my friend for confusing the context (#306)!

Best regards
FXcube
  • #311
  • Apr 27, 2011 8:40pm Apr 27, 2011 8:40pm
Hi Eelfranz, I am so sorry to ask you again, if I enter just right on the vertical line, how do I know that on that candle, the TDI will cross? because the indicator is not yet confirmed when the candle is not closed yet. It is very possible on the process of the candle forming, it seems that the TDI cross, but just right on the time it is close, the price coma back up and the TDI will not cross.

Please see my chart below. Thanks Before for your kindness !!!!

BTW..Forexcube, thanks for the hints, that seems help much !!!
Attached Image (click to enlarge)
Click to Enlarge Name: confirm3.gif Size: 31 KB
  • #312
  • Apr 27, 2011 8:53pm Apr 27, 2011 8:53pm
Hi Eelfranz, can you please PM me. I have a quick question that I cant post in the forum...for specific reasons. I cant PM you as a junior member.

Cheers,
Allan
  • #313
  • Apr 27, 2011 9:18pm Apr 27, 2011 9:18pm
Quoting Bom-Bom
Hi Eelfranz, I am so sorry to ask you again, if I enter just right on the vertical line, how do I know that on that candle, the TDI will cross? because the indicator is not yet confirmed when the candle is not closed yet. It is very possible on the process of the candle forming, it seems that the TDI cross, but just right on the time it is close, the price coma back up and the TDI will not cross.

Please see my chart below. Thanks Before for your kindness !!!!

BTW..Forexcube, thanks for the hints, that seems help much !!! ...
BomBom,
Every broker is different, we are in a strong uptrend as per the daily , H4 and H1, what you are seeing is a fakeout it happens. I myself place a sell on that same candle, but 2 pips below its low, when I saw it was a double bottom, I reversed a put on a buy.............it happens
  • #314
  • Apr 27, 2011 9:18pm Apr 27, 2011 9:18pm
Quoting eelfranz
SpongeWorthy...

Could you mark and post a couple of charts for us. Thanks buddy...
I can't believe I am posting this but here are a couple of trades I took yesterday. It is subjective which ones you take and I just have gotten a feel for them through trading.

I use this method when I am day trading and I am looking for quick pops on the 5 min.
Attached Image (click to enlarge)
Click to Enlarge Name: tdi.gif Size: 15 KB
  • #315
  • Apr 27, 2011 9:29pm Apr 27, 2011 9:29pm
Quoting Bom-Bom
Eelfranz, please confirm my picture below.

Is that a valid sell set-up? if so, then when I open sell on the next open candle, I'll get loss, so my stop loss is on the next buy signal (cut sell when new candle open, and go open buy)

is the logic correct?

And how about the second picture? Do I mark the signals correctly? so I'll open on the next open candle after vertical line? thanks
Bom Bom, I noticed that you have removed the stochastic from your charts, it may have shown you that you were trading against the trend or atleast that something was going on !
  • #316
  • Apr 27, 2011 9:34pm Apr 27, 2011 9:34pm
Quoting SpongeWorthy
I can't believe I am posting this but here are a couple of trades I took yesterday. It is subjective which ones you take and I just have gotten a feel for them through trading.

I use this method when I am day trading and I am looking for quick pops on the 5 min.
Hi Spongeworthy,

Looks like you have got a good grip on this method. Awesome job! I am not very keen on trading the 5 minute charts and I can see what you mean about it being subjective as there are many trading opportunities on the chart you posted that you did not take. I did notice however that it appears that if you were to take the trades where the green crossed the red line and it was on that side of the yellow 5ema that the trade worked out rather well. This is just my observation from this one chart you posted so it might not hold true on other charts. But I think I will look into it further. Anyway great job!

Tony
  • #317
  • Edited Apr 28, 2011 4:06am Apr 27, 2011 9:36pm | Edited Apr 28, 2011 4:06am
Quoting jrushing
BomBom,
Every broker is different, we are in a strong uptrend as per the daily , H4 and H1, what you are seeing is a fakeout it happens. I myself place a sell on that same candle, but 2 pips below its low, when I saw it was a double bottom, I reversed a put on a buy.............it happens
Yes Jrushing, Loss is fine to me, I just want to confirm that I understand this method correctly. So your statement also confirm that my analysis is correct as per method, isn't it?

Quoting Cosmo
Bom Bom, I noticed that you have removed the stochastic from your charts, it may have shown you that you were trading against the trend or atleast that something was going on !
I just use the template from page 1. Ok..I'll put the stochastic then..

BTW..this thread is really great, everyone are willing to answer. I'm really happy to be here. thanks Guys !!!!
  • #318
  • Apr 27, 2011 9:59pm Apr 27, 2011 9:59pm
I'm putting up 2 daily time frame trades I put in today on demo. One on eur/jpy and the other on usd/jpy. So far the usd/jpy trade is not doing good so far, hopefully it will rebound. Any input into what I may or may not be doing right would be appreciated.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: chart2.gif Size: 18 KB
  • #319
  • Apr 27, 2011 10:07pm Apr 27, 2011 10:07pm
Quoting Bom-Bom
Yes Jrushing, Loss is fine to me, I just want to confirm that I understand this method correctly. So your statement also confirm that my analysis is correct as per method, isn't it?



I just use the template from page 1. Ok..I'll put the stochastic then..

BTW..this thread is really great, although the Thread Starter might not be able to reply the questions, but the other are willing to answer. I'm really happy to be here. thanks Guys !!!!
BomBom,

I myself look for those trend changes, and it would be great to get in at very top, but this market loves fakeouts, when I trade I watch 9 pairs, NOT to trade all of them but to confirm trend change or significant pullbacks. Big E and others have shown me how important the weekly, daily are in looking at the big picture E/U has been going thru the roof since March and I expect a 1.51 area top then a significant pullback. Thats just me right now. We novices tend to make it harder than what it is, thats why I really try to listen to Big E and others here.
  • #320
  • Apr 27, 2011 10:22pm Apr 27, 2011 10:22pm
Quoting jrushing
BomBom,

I myself look for those trend changes, and it would be great to get in at very top, but this market loves fakeouts, when I trade I watch 9 pairs, NOT to trade all of them but to confirm trend change or significant pullbacks. Big E and others have shown me how important the weekly, daily are in looking at the big picture E/U has been going thru the roof since March and I expect a 1.51 area top then a significant pullback. Thats just me right now. We novices tend to make it harder than what it is, thats why I really try to listen to Big...
Bom Bom, set your stoch. to 8 3 3 for the 4 hour, as recommended by Big E. The Stoch will keep you out of those small retracements, the only problem is when it gets over 80 or under 20, then its a judgement call or just keep out.
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