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Monitor for 'Trading Made Simple' system 565 replies

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

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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

  • #321
  • Apr 27, 2011 8:33pm Apr 27, 2011 8:33pm
Quoting Nate04
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.
Asia is dumping the dollar right now. We will have to wait to see what london is going to do with it. But, a 50 pip draw down isn't really much when considering the daily time frame... I usually allow up to 100 pip DD.
  • #322
  • Apr 27, 2011 8:33pm Apr 27, 2011 8:33pm
BomBom,

I'am on my way to work right
now but I'll try to give you a quick answer.

If you use the stochastic use 8-3-3. But use it for direction only.
We have found that using this system once you go into overbought or
oversold 80-20 levels it's not all that accurate.

So once you determine the direction of the stochastic (secondary indicator
only) then convert to the TDI indicator 100%.

Hope this short answer helps you...

snarlyjack
  • #323
  • Apr 27, 2011 8:44pm Apr 27, 2011 8:44pm
Joining up for some action on silver.
  • #324
  • Apr 27, 2011 8:51pm Apr 27, 2011 8:51pm
Quoting Venice
Asia is dumping the dollar right now. We will have to wait to see what london is going to do with it. But, a 50 pip draw down isn't really much when considering the daily time frame... I usually allow up to 100 pip DD.
Yeah, I hear ya. Since its a demo acct, I'm not sweating it at all. I wish I could force myself to wake up in the middle of the night to trade London open, but then I'd be a wreck at work the next day. So the 1 and 4 hour charts are not really an option. Add in 2 young kids to pay attention to in the evening, and you got a very small time frame to trade in. I have to find a way to make the daily time frame work. so here is to hoping this method is golden on this time frame.
  • #325
  • Apr 27, 2011 9:15pm Apr 27, 2011 9:15pm
Just a suggestion, since this is a similar system that I use. Try changing your Stoch to 20,3,5. It will run smoother. Good Luck.
  • #326
  • Apr 27, 2011 9:29pm Apr 27, 2011 9:29pm
just joined up so that i could thank you for all your effort in helping people like myself to trade. have been trading a few years with no success untill i stumbled onto this site. as i don't know how to load the tdi indicator i have put a 13rsi and 7 ma overlay on mt4 . if anyone can help me load indicator it would be much appreciated. thanks again eelfranz for helping us.
evolution9
  • #327
  • Apr 27, 2011 9:32pm Apr 27, 2011 9:32pm
Sponge worthy,

First trade would have been an exit and then re-entry...

Second trade was taken one candle early...
  • #328
  • Apr 27, 2011 9:33pm Apr 27, 2011 9:33pm
Quoting Fun Demental
eelfranz



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)

fundemental
If it is not considered off topic I for one would be very interested in hearing more of an explanation. It has been through personal experience that I have come to realize that the 4hr and daily time frames are the more advantageous tfs to trade the forex. However, I would be lying if I said that I understand why. I've been following the original thread since the start in Dec 2009 and have been making profits after going to the higher tfs but I am glad the new thread was started, it has cleared up a lot of confusion. Hat's off to Eric and others for committing so much time to the discussion and I am a little embarrassed that I have mearly been a lurker for over a year. It really doesn't get much easier than this and it is not necessary to complicate it. Cut your losses when the trade doesn't work and let it run when it does.
  • #329
  • Apr 27, 2011 9:36pm Apr 27, 2011 9:36pm
hey i like this system but i am still confused about entry and exit. would some one please elaborate the rules of entry and exit and what about stop loss ? thnx
  • #330
  • Apr 27, 2011 9:37pm Apr 27, 2011 9:37pm
Nate04,

Give it a shot buddy... follow the rules, enter/exits on TDI... Trade Demo to build confidence and study old charts and many pairs with our template until it becomes second nature.
  • #331
  • Edited 10:12pm Apr 27, 2011 9:54pm | Edited 10:12pm
Bom Bom...

Cool your jets... I've answered your questions as well as many others have. If it's still not clear... ask again a different way. We want you to succeed buddy... See post 336 below...
  • #332
  • Edited 10:13pm Apr 27, 2011 9:57pm | Edited 10:13pm
Scalper000...

Go back and read the posts from the beginning to current and study the charts... It's all been layed out in easy terms to understand. Then ask any question... thanks... See post 336 below....
  • #333
  • Apr 27, 2011 10:02pm Apr 27, 2011 10:02pm
Quoting eelfranz
Bom Bom...

Cool your jets... I've answered your questions as well as many others have. If it's still not clear... ask again a different way. We want you to succeed buddy...
I'm sorry Eelfranz.... please Forgive me if my words offend you earlier, it did not intend to it, just want to appreciate someone's else reply. Please Forgive, really, I did not intend to offend you. Please do not take it the wrong way.
thanks for your kindness!

Will listen carefully now ....
  • #334
  • Apr 27, 2011 10:05pm Apr 27, 2011 10:05pm
Hey guys,

Im new to this system but just made a few observations for filtering bad trades.

this might be quite obvious for expirienced traders but may help the newbies.

I only take trades where both the indicators are crossing down through the 68 level on TDI and 70 level on stoch for shorts and vice versa for longs, i hope that makes sense

on the chart below the yellow circles are good trades and the green boxes are ranging and all twisted together so leave them alone.
Attached Image (click to enlarge)
Click to Enlarge Name: chart 1.gif Size: 124 KB
  • #335
  • Apr 27, 2011 10:09pm Apr 27, 2011 10:09pm
Thanks E we are going to try as you suggested on the PM
  • #336
  • Apr 27, 2011 10:10pm Apr 27, 2011 10:10pm
Those wanting more examples go to Forum: Commercial, then Craig Harris Stochastics Method... then start reading on page 246, post 3676 to the end... you will learn more fast... We switched from there to only discuss this method in the new forum...
  • #337
  • Apr 27, 2011 10:13pm Apr 27, 2011 10:13pm
Hi,

When there is a TDI cross, I know that we should be entering within the first two candles after a HA color change. What happens when the TDI has crossed a few bars before the HA has changed colors? Would this still be a valid entry?

Basically, you don't want to enter when the TDI cross lags too much with the HA color change but what about situations when the TDI is ahead of the HA color change? Is it okay to take those trades after the HA changes color?

Thanks.
  • #338
  • Apr 27, 2011 10:19pm Apr 27, 2011 10:19pm
33Drifter...

I love taking short trades off the 68 line or just below and long trades long off the 32 line area... made tons of pips when that opportunity presents itself...
  • #339
  • Apr 27, 2011 10:21pm Apr 27, 2011 10:21pm
Stimuls,

Post a chart with vertical lines and markings and ask your questions again... thanks...
  • #340
  • Apr 27, 2011 10:27pm Apr 27, 2011 10:27pm
Training Chart... Current E/U -

Note the green line has tweeked to the right twice... We are way above the TDI 68 Line... Will be turning soon. Keep an eye on it...
Attached Image (click to enlarge)
Click to Enlarge Name: e-u 1.gif Size: 21 KB
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