Trading Made Simple

Sam21...

As I've stated may times here... When green crosses red I'm ready to enter the trade... yellow line has nothing to do with entries. Enter on candle 1 or 2 only... after that look for another pair/trade.

thanks eelfranz....., i have made some pip in live acc....

Sam21...

Regarding your A/U 1hr entry:

For:
Proper signal and a Double Top (in progress)

Against:
Running into a 1.0869 support. Too much congestion!

1hr GBP/USD looks better once it clears support.

I have read through the posts once and am about to do it again in an attempt to summarise all the rules and important notes but it seems you have already done so. Its hard to keep up with the volume of people following and posting! Would you care to share your word doc?? No offence taken if not. I think someone (maybe you ) had done it and posted it earlier but for some reason I couldnt open it??
Thank you

Eelfranz, as the TDI is the core of this method could you please confirm the settings that you are using. I have noticed a difference by using an RSI 13 or RSI 14?

Chilly you little party trader... TDI... hummm... see if I can remember the steps from memory...

Make sure your Broker platform is closed first.

Download the indicator to your Desktop... Right click it and click Copy.

left click the ball on the bottom left of your screen... window pops up... click computer

Box comes up... double click your Hard Drive

Box comes up... click the 86 if you have it or the 32 if not.

Box comes up... Double click your broker

Box comes up... click Experts...

Box comes up... double click Indicators

Box comes up with your indicators in it. Right Click inside the box and click on Paste... give it the ok and you should be done.

Make sure your Broker is not active when you do it. When your done bring up your Broker... then a chart... then open your Custom Indicators... Double click on TDI green/Red and drag to your chart. It should be there now...

My computer is Vista 7... yours may be different.

Thanks for your input. Dont worry I am not being lazy, I am trying to take it all in before I set my charts up. AS you can see its a very busy thread so for me its a lot to take in. I just really want (actually need) to get this right so forgive my questions if they seem stupid or naive.
I have a quick one for you: When assessing an entry, do you simply take that entry based on the TDI and nothing more?? as in I guess these would be technical entries....do you not take fundamentals/news/announcements into account??
Thank you

Eamonn... (481)

Try it and PM me the results...

i just change the colour of the tdi

Norman... (483)

What time of day did you take this trade?

Post #513. 1 hour 45 min's ago.

eelfranz why did'nt you enter at the red vertical line you have drawn? By the time you posted the chart the green TDI was flat, so no trade, but at the red vertical line, the green had crossed the red, the green was still pointing down, and it was the second red HA candle.

I have a 1k live account that I use to test new technique and most of them are complicated. I had a series of a win-loss-win-loss trades draining my account to a few hundreds and so I stop trading live. Today is my 6th month (starts at 7am to 1am) of studying simple and complicated systems/technique.

@KumoDragon: thanks for the advice.

Now, I just follow this rules:
1. Check trend at D1, H4, H1
2. If the trend is aligning well on those TF, then I'll go for a medium-
term trade that targets 50+ pips; If there is any conflicting trend
between TF, then I'll use H1 as compass for a quick 10 or more pips
3. Using this method (with additional indicator; sorry sir EElFranz), I
switch to M15 for medium-term trade or M5 for quick scalping

I still have to work on my SL, trailing stops, MM (as KumoDragon says) and greed.

gaining more confidence now...

For what it's worth, not only do we have a cross on the H4, but if you switch to standard candlesticks for a moment on the daily chart you will see a GREAT pinbar, the likes of which we haven't seen since Oct last year. That one moved down 300 pips!

Needless to say, I'm short, and plan on waiting out through the UK holidays.

Down 300 pips?.... Not on my charts!

Thanks for the heads-up though

On my charts, Oct 15 pinbar closed 1.5989. Oct 19 closed 1.5655.

My math says that's 334 pips.

A nice little UJ trade I kicked off Wednesday night @ 9pm eastern.



Not a fan of the Yen but I got the signal for a sell in a down trend.


JD

Klops... (503)

I'm not looking for 15 pips profit... more like 150 !

The money I put into my last trading account ($10,000) I don't even think about it. It's like the money you take to Las Vegas. You hope to win but don't often... Your taking money for entertainment and relaxation... So I don't give it a second thought... It's entertainment money as I said... Besides It always grows larger...

I REMEMBER THE DAYS WRINGING OUT MY HANDS FOR MY $500 ACCOUNT... THE SKIES FALLING ! Help, help, help.

If I enter a trade lets say and I'm monitoring the trade and its up 50 pips but suddenly it pulls back 10-15 pips I just exit. I'll keep the profit at $10 a pip... no big deal. If it turns and continues (bounce) I'll just jump back in... Don't get so rigid...

Evidently I missed something while looking at the set up and it's cut me short.... there are always set ups on different timeframes... different pairs. I'll study the trade I jumped out of for the answer so I don't make the same mistake again hopefully..

If your worried about the money in your account how are you going to pull the trigger with confidence? They tell you from the get go the money in your account shouldn't be money you need... otherwise don't trade...

Learning the fx market is like going to school. It costs to go to school and your pip money for trades is what you use to learn. When you have a reliable method and confidence... the market starts to pay you for your education expenses... profit.

The only reason I deposited that amount is because I trade full lots and some trades have 2-4 lots on a trade... or I'll add additional lots as the trade is in progress.. no big deal...

I'm in this because it's fun, keeps my mind active and I'm good at it. Pretty cut and dried...

Main point is, we have a H4 cross using Big E's method. I point out the pinbar just to further support the profit potential of anticipated move down.

Don't want to muddy the water here, but also have negative divergence on TDI

Hi,

When looking to backtest for MM, size of stop loss and reasonable set and forget TPs I found the HA made it hard so I have been using this for HA.

To turn on alert change 0 to 1

Someone else might find it useful so I attach it

[quote=eelfranz;4580234]Klops... (503)

I'm not looking for 15 pips profit... more like 150 ! [...]
If I enter a trade lets say and I'm monitoring the trade and its up 50 pips but suddenly it pulls back 10-15 pips I just exit. I'll keep the profit at $10 a pip... no big deal. If it turns and continues (bounce) I'll just jump back in... Don't get so rigid...[quote]

Sorry, I must've misunderstood you - I thought you were taking quick profits but you were actually referring to 10-15 pip pull backs. Now it makes sense! Please disregard my second post on this subject.

Yeah... being flexible is a must. Better to jump out and observe from the sidelines than be endlessly dragged by the pull back hoping for a miracle! I had a displeasure of learning this on many occasions.

I've been in this business for 7 years and I know perfectly well how maddeningly difficult it is to find a reliable method in which you truly believe... and the believing is key (psychology!). Not believing in your method can absolutely destroy you (and often your family) psychologically and financially, making a horror of your FX odyssey.

Any suggestions on re-entering techniques?

Thanks