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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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Trading Made Simple system follower - Thanks to eelfranz 9 replies

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Trading Made Simple

  • #441
  • Apr 28, 2011 9:40am Apr 28, 2011 9:40am
Hi,

Traded the Eur/JPy on the cross of the 4hr chart with confirmation on the 1hr chart. went to sleep and exited once i woke up and notice that it was retracing back at previous resistance exit it with 60 pips. Thanks Everyone !! I am seeing the light at the end of the tunnel..
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpy1trade.gif Size: 45 KB
  • #442
  • Apr 28, 2011 9:42am Apr 28, 2011 9:42am
Looking at my GU short today I'm wondering if anyone has tried filitering 4H entries with the 1H time frame?

That is not entering a 4H trade if 1H is hooking back/crossing. And if you want to enter, waiting until 1H agrees

If I had filtered with the 1H I would have not entered at the start of the 4H today and endured a -57 drawdown.
  • #443
  • Apr 28, 2011 9:49am Apr 28, 2011 9:49am
Good morning - right now, the EU and GU look like short trades on my H4 chart. What do the "experts" think? Thank you
  • #444
  • Edited 9:55am Apr 28, 2011 9:54am | Edited 9:55am
Here's a MTF MACD trend indicator. It provides a view of the trend on all TFs and fits conveniently on the bottom of your screen. It may need to be optimized for this strategy, but it's simple and doesn't add a lot of extra baggage.
Attached File(s)
File Type: mq4 GMACD_Signals.mq4   14 KB | 1,861 downloads
  • #445
  • Edited 10:49am Apr 28, 2011 10:27am | Edited 10:49am
Quoting snarlyjack
Dean,

I read your post and it interested me and if you don't mind I'd
like to make some suggestions to you.

If I were you I would put the 3 indicators on your charts and
nothing else!
1)....
see #431


Hi snarlyjack

"#1 best 5 ma tdi"-template
I don't know exactly, but I think 5 EMA +2 shift is eelfranz's one, isn't it?

So also the version from p.11, #156

Kindest regrads
FXcube
  • #446
  • Apr 28, 2011 10:43am Apr 28, 2011 10:43am
how is the success rate for those using it in 1 hr time frame ???
  • #447
  • Apr 28, 2011 11:04am Apr 28, 2011 11:04am
I've been using this method for a little over a week. I'm up 183 pips NET from trading during the days - using H1 and H4 timeframes. Obviously making some bad choices but overall I've been more successful using this method than any other with 3 yrs experience.

It's simple and uncomplicated.
  • #448
  • Edited 11:35am Apr 28, 2011 11:05am | Edited 11:35am
eelfranz,

I've been testing this system since 7am(Philippine time) using the M5 TF combining with other indicators from other simple system here in FF, and so far I'm getting several successful trades.

Pairs being tested:
-EURUSD
-GBPUSD
-Silver

If you will allow me, I could post my configuration.

Thanks.

Moldsz

PS: I cannot send you a pm because of my newbie status
  • #449
  • Apr 28, 2011 11:15am Apr 28, 2011 11:15am
Good day. I have been scalping with TDI for a while now and I am interested in starting a TDI scalping thread, however, I don't have the vouchers to start a thread.

I want to keep this thread as it should be: pure to the creator's specs. If someone out there is able to start a thread, let me know and we can divert all those of us who are crazy enough to want to trade shorter time frames and we can keep this thread clear of our wild ideas
Philippians 4:13 "I can do all things through Christ which strengthens me"
  • #450
  • Apr 28, 2011 11:23am Apr 28, 2011 11:23am
In my opinion trading this system on 1 hr time frame will be much profitable.
Trade responsiblypatience is the key/Swing trader
  • #451
  • Apr 28, 2011 11:28am Apr 28, 2011 11:28am
Hi All

I tried the 5 method out on 5M chart due to my work schedule. First trade today short GU for 23 pips. I think I got the entry rules correct? Sorry this is a GU chart. Hope I didn't confuse anyone.
Attached Image (click to enlarge)
Click to Enlarge Name: eu 5m short t1 28.4.11.jpg Size: 113 KB
  • #452
  • Apr 28, 2011 11:45am Apr 28, 2011 11:45am
-10 pips for the day two shorts on usdjpy and gbpjpy and a long on usdchf. All pairs I traded were very quiet just bobbing up and down 15 pips all day. Still up 150 pips for the week (only traded three days) and 450 last week. With the Market likely to be quiet tomorrow and Monday (uk bank holidays) is it wise to perhaps drop to a lower timeframe - perhaps the one hour and target only the major pairs?
  • #453
  • Apr 28, 2011 12:25pm Apr 28, 2011 12:25pm
I mainly trade the TDI on 4 hour charts as eelfranz has spelled out, with some differences for entries, as it finally made me a profitable trader about two years ago. A year or so ago I tried writing an EA for trading the TDI on the 4 hour chart and it was a disaster so eelfranz is correct about this and there really should be no talk about an EA for this method, this surely will upset the “let’s make an EA” gang that jumps on the start of every thread.

It is funny how the smallest thing can have an enormous effect upon your life. About two years ago I was looking in the platform tech forum for some info about a totally different indicator when I stumbled upon this innocuous post:

http://www.forexfactory.com/showpost...28&postcount=2

The last line "I live for the days when the TDI crosses occur on the 4H charts." was just an offhand remark by the poster but it changed my life. I figured I would take a look at what he was talking about and since then I have been profitable almost every week.

I have received several PMs asking me about my "scalping" method using the TDI on 5 minute charts. I don't want to hijack eelfranz' great thread but I certainly don't want to start my own so I will post this for the last time, keeping in mind that the 4 hour method is how I make most of my money.
I live near New York City so I go to sleep around 7 PM and wake up at 1 AM to trade during London especially the open. When I am sitting in front of the computer during London and early NY hours I will look at 5 minute charts for pullback opportunities using the TDI. The TDI must have the yellow line that eelfranz removes from his TDI indicator! I think it's just a MA applied to the red MA. I look at the 5 min charts and if I see a pair (my favorite is Cable) in a nice trend I will keep checking for a pullback. When I see price pullback I look at the TDI for the following color sequences, green below yellow below red for a long and green above yellow above red for a short. I also MUST see some space between the green and yellow, a U shape is my favorite. When I see the green cross the yellow I will try and grab about ten pips. I have indicated the three of these sequences that happened on the Cable yesterday two I took and a short sequence I would have taken had I been watching. Let that be a lesson, never go eat or make love to your wife or you will lose money!

The 5 minute method has been successful for me because I only take perfect setups for much smaller pips but these setups don’t happen all the time. It just doesn’t make as many pips as the 4 hour TF which gives you much bigger pips per trade. So for those of you wanting to trade this on shorter timeframes be forewarned that while you can make money it is not as profitable as the 4 hour method, probably because the natural tendency to overtrade. Now, no more about scalping here, this thread is for eelfranz’ method.
Attached Image
  • #454
  • Apr 28, 2011 12:38pm Apr 28, 2011 12:38pm
Unimak -
My intention is very much true to keep this system simple but when you trade on higher time frames for a new trader , it will give heart burn when he sees that the trade is moving 10 pips against him, so it gives more assurance and conviction to stick to his trade rather than close it.

Can you PM me with a screenshot ?

Thanks
  • #455
  • Apr 28, 2011 1:06pm Apr 28, 2011 1:06pm
Quoting Forexcube
see #454

Hi SpongeWorthy

If I look at your frame I wouldn't use the yellow line at M5 scalping trades. It don't give any more valid information which could be necessary rather it's more likely to display some kind of confusing ambiguity.


Kindest regards
FXcube
The yellow line is the key for me on this trade! If the green is on the other side of the yellow than the red it tells me that we are in a small pullback from the prevailing trend and the recrossing of the yellow by the green tells me that the trend is about to continue srongly. If you look you will see that green and red are on the same side of the yellow about 99% of the time. Without the yellow this method is useless to me.
  • #456
  • Apr 28, 2011 1:11pm Apr 28, 2011 1:11pm
Quoting DoveTrader
Good day. I have been scalping with TDI for a while now and I am interested in starting a TDI scalping thread, however, I don't have the vouchers to start a thread.

I want to keep this thread as it should be: pure to the creator's specs. If someone out there is able to start a thread, let me know and we can divert all those of us who are crazy enough to want to trade shorter time frames and we can keep this thread clear of our wild ideas
Hi Dove trader, I like your thinking. I believe this method is very effective on the 4H charts and I would like to respect the author.

I have never started a thread but I think I am able to. I am a scalper at heart. what I would like to do is scalp the E/U and 4hr trade other majors.

P.S. I love your signature. We can do all things with Christ! God Bless you brother
  • #457
  • Apr 28, 2011 1:12pm Apr 28, 2011 1:12pm
Quoting SpongeWorthy
The yellow line is the key for me on this trade! If the green is on the other side of the yellow than the red it tells me that we are in a small pullback from the prevailing trend and the recrossing of the yellow by the green tells me that the trend is about to continue srongly. If you look you will see that green and red are on the same side of the yellow about 99% of the time. Without the yellow this method is useless to me.
Hi SpongeWorthy,

Do you apply the same method when trading the 4hr charts? I don't have any charts in front of me but I would guess this would cut down on the amount of trades.

Thanks.
  • #458
  • Apr 28, 2011 1:18pm Apr 28, 2011 1:18pm
Quoting SpongeWorthy
The yellow line is the key for me on this trade! If the green is on the other side of the yellow than the red it tells me that we are in a small pullback from the prevailing trend and the recrossing of the yellow by the green tells me that the trend is about to continue srongly. If you look you will see that green and red are on the same side of the yellow about 99% of the time. Without the yellow this method is useless to me.
Can you give us your Yellow Line indi. here in mq oe ex. file please? and what is it? I mean sma or ema?
  • #459
  • Apr 28, 2011 1:18pm Apr 28, 2011 1:18pm
Quoting stimuls
Hi SpongeWorthy,

Do you apply the same method when trading the 4hr charts? I don't have any charts in front of me but I would guess this would cut down on the amount of trades.

Thanks.
No. I use this only for the 5 min scalping technique when I am missed a 4 HR trade. I use the same crossings as eelfranz on 4 HR but I like to refine my entries by dropping down TFs when I see a 4 hr signal approaching.
  • #460
  • Apr 28, 2011 1:25pm Apr 28, 2011 1:25pm
Quoting behman8850
Can you give us your Yellow Line indi. here in mq oe ex. file please? and what is it? I mean sma or ema?
I believe it's part of the TDI indicator - just set the #2 line in the Colors tab to Yellow.
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