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Monitor for 'Trading Made Simple' system 565 replies

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

Indicators for the 'Trading Made Simple' system 343 replies

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

  • #681
  • Edited 5:46pm Apr 29, 2011 2:36pm | Edited 5:46pm
Kumo... (671)

or just that they are pointed in the right direction... Pointed in the same direction as the TDI... Confirmation...

Some people like using an RSI (13) with a 50% line
  • #682
  • Apr 29, 2011 2:38pm Apr 29, 2011 2:38pm
I changed my previous template (picture) for you (26 abrl 2011) that is clearer and I get the tickets in advance .... but the principle is exactly the same ... trend lines w1-d1----h4 Enter in retracment

thanks
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  • #683
  • Apr 29, 2011 2:38pm Apr 29, 2011 2:38pm
Good cheap parking and the best security.
Quoting eelfranz
Gotta love it...

[color=black]Cowboy Bank Loan

A Cowboy from Laramie, Wyoming, walked into a bank in New York City
and asked for the loan officer. He told the loan officer that he was
going to Paris for an international rodeo for two weeks and needed to
borrow $5,000 and that he was not a depositor of the bank.

The bank officer told him that the bank would need some form of
security for the loan, so the...
Could it be Man is trying to be something without knowing they're complete?
  • #684
  • Edited 3:20pm Apr 29, 2011 2:41pm | Edited 3:20pm
Chilly...

Naw...don't do that... just take a nap... Call your broker for help loading indicators...
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  • #685
  • Apr 29, 2011 2:50pm Apr 29, 2011 2:50pm
70 pips on EJ bounce

kos
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John 3:16 - From THIS love no power on earth can me sever.
  • #686
  • Apr 29, 2011 3:06pm Apr 29, 2011 3:06pm
Stimuls... (674)

Trend... long term and short term...

I take a chart and make the candles as small as they will go to find the direction of the long term trend...

Then I enlarge them to my normal trading size for the current short term trend...

If they are the same I feel I have better odds on my side... if they are opposite I may trade less lots per trade... I will pay more attention to the last swing (candle size & length)...

That kind of stuff...
  • #687
  • Apr 29, 2011 3:09pm Apr 29, 2011 3:09pm
Chilly...

PM numb3rs or 2scoops for help... they will set you up buddy...
  • #688
  • Apr 29, 2011 3:12pm Apr 29, 2011 3:12pm
Quoting eelfranz
Chilly...

Naw...don't do that... just take a nap...
YOUR KILLING ME............LMAO!

E/J Just made a nice brake south........
  • #689
  • Apr 29, 2011 3:15pm Apr 29, 2011 3:15pm
Quoting Kosomolate
70 pips on EJ bounce

kos
Very nice.

I wanted to post a bigger view. So you all can see how its moving right into level of possible support. Let see what happens. It looks pretty strong.
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Could it be Man is trying to be something without knowing they're complete?
  • #690
  • Apr 29, 2011 3:18pm Apr 29, 2011 3:18pm
Quoting eelfranz
Stimuls... (674)

Trend... long term and short term...

I take a chart and make the candles as small as they will go to find the direction of the long term trend...

Then I enlarge them to my normal trading size for the current short term trend...

[font=Comic Sans MS][size=3][color=#0000ff]If...
Great, thanks for the reply.
  • #691
  • Apr 29, 2011 3:21pm Apr 29, 2011 3:21pm
Hey guys, this system works extremely well on the 5m as well.

I know the majority of you are on the bigger time frames... and part of it may be me reading PA along side of this setup... but as long as you know if you are currently playing a retracement or trend continuation... 5-40 pip hits all day long... even today in the crap that was available.
  • #692
  • Apr 29, 2011 3:28pm Apr 29, 2011 3:28pm
Wonder how the TDI looks like on the monthly? It has a ways to go at this view.
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  • #693
  • Apr 29, 2011 3:35pm Apr 29, 2011 3:35pm
It appears that the EU has been in a consolidation phase for the past 10 periods or so despite what looks like potential opportunities in the TDI and therefore no real trading opportunities. Am I reading this correctly?
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  • #694
  • Apr 29, 2011 3:45pm Apr 29, 2011 3:45pm
Silver...

How to Think About Your Silver Holdings NowBy Chris Weber, editor, The Weber Global Opportunities ReportFriday, April 29, 2011
Over the last few years, I'd written it so much my fingers almost rebelled: IF silver could clearly get above the $26-$28 level, then there'd be nothing stopping it until the $49 area.

The lower numbers were the 50% retracement prices for the bear market from 1980 to the lows of around $3-$4. If silver's price could get above that, it would be final confirmation that this is a new bull market. That would mean the next target would be the record nominal highs reached back in January 1980. Specifically, the high was the London fix of January 21, 1980, of $49.45.

That's the next place I have expected a struggle. Sure enough, it was late January of this year when silver broke clearly above that $26-$28 ceiling. And sure enough, the weeks since then have seen silver vault toward the $49 figure with nothing standing in its way.

It's one thing to forecast the moves, but another to see them made in action. So far, my "mileposts" have proven a great guide to what to expect in this market.

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On mid-day Asian time Monday, silver soared briefly to $49.85. Thus, it has – at least on an intraday basis – reached what I thought would be the next obstacle. How it handles this hurdle will give us an update on the very nature of the bull market.

Can it top the old record highs? Silver has not had a rest for months. In the August 31 issue, I detected the calm of silver going nowhere for nearly a year was about to end. Silver was around $19. Sure enough, it started to burst upwards. Not even eight months have passed, and look at the numbers… Just plain silver bought without leverage has now soared as high as 162%. Those following my advice to "make up for lost time" with silver leveraged at 2 to 1 have seen returns double this or much better.

I've gotten letters from dazed readers. I get the impression they've been promised returns like this many times in the past. But they've almost expected the results not to be so great. Here, however, they are. And it's a new experience. Some are implying that for the first time in their lives, they are actually becoming wealthy. It's one thing to be promised this, but another to see it happen before your eyes.

What I want to advise now is to start thinking in terms of keeping or protecting your tremendous gains. In my 40 years as an investor, nothing is sadder than to see tremendous gains evaporate. This can happen if the bull market ends. But it can also happen in case of a temporary but sharp correction. And silver is known for such corrections.

I've had letters from people who have nearly 100% of their assets in silver and gold, including the leveraged vehicles. But ideally, you want to be in a bull market in a way where if your asset plunges to zero you are protected. Your new lifestyle of wealth is unassailable. So this means that you have enough money in places which will do fine if your main asset collapses, even temporarily. Enough so that you don't panic and sell yourself out of the market altogether.

Readers ask me why I am not planning to sell any of my silver. I answer: If you hold cash enough so that it covers your family's expenses for years into the future, you are able to hang on to your "firecracker" asset with no worries. The more "years" of expenses, the better… up to a point. If you have more than 20 years of expenses in cash, that's likely too much.

Yes, cash today in any major currency does not pay much interest. But you aren't holding it for the interest. You are holding it for the peace of mind that comes with being covered if your "firecracker" dreams fall apart. You've got that boring but absolutely necessary cash hoard to see you through.

So that's why if you are in the position of having too much in silver and gold and too little in cash, I now recommend selling enough of the metals to add many months of your expenses in the bank. Yes, I'm talking about the most boring and low-performing instruments: Treasury bills or other super-safe ways to hold cash.

If you've put a lot of your money in silver and silver does what it has been doing, then it is tempting to either "let it ride" or even buy more. But like it or not, that's just greed.

And greed kills.

I want my readers to be around and rich for years to come. I want them all to be in the position where regardless of what the markets throw at you, you'll never panic.

Clearly, if you are heavy on the leveraged silver assets, you can afford to sell enough to build that "peace of mind" oasis. If you reach this state of mind, you'll be amazed at the level of peace that'll descend upon you across the board. It may be a peace so intense you've never experienced it before. And it's a wonderful feeling, especially in these turbulent and uncertain times. A feeling of peace that is priceless. Where you banish panic from your soul. Your mind will become clear. You'll be happy, but at rest.

And you'll still be in the silver market.

I'm not saying to sell all of your silver. I'm advising to think of it in terms of your expenses… Let's say these are $10,000 per month. If you sell enough silver to cover several years worth of them – or even one year's worth – you'll notice the difference in your total outlook.

By all means, retain enough silver so you continue to build your wealth if silver keeps rising. But own enough cash so you won't panic if it doesn't.

Most people make the same mistake. They are lucky enough to have money in a tremendous asset at the right time. They then keep pouring money in. They have nothing left in case of a sharp correction. So when that correction comes, they bail out. Then they kick themselves for the rest of their lives after the bull move continues.

Please, don't let this describe you. Don't let greed take over. Sell a little silver, enough to buy yourself some insurance. You buy fire insurance in case of a fire. But those are fairly rare. Silver correcting by falling in half in a few months after it has soared? That's not rare. It happens in all silver bull markets. The bull wants to shake people off of it. If you don't take my advice, you're making it easy for the bull to throw you.

I bring this up now that silver is at the "$49 door." Don't be a chump, a sucker. Don't be a bad investor. Build your cash up to where you stop worrying what silver does in the short term. If your life would be destroyed if silver collapsed and you sold in a panic, then I'm talking to you.

Do this and you rise in the ranks from amateur to professional. Play your cards right and this silver bull market will make you a wealthy person. Someone who never needs to even talk to anyone you don't want to speak to. Who never has to do anything he or she doesn't want to do.

That's real freedom. And how many people do you know enjoy it? Truly wealthy people think in an entirely different way from everyone else. There's no reason why you can't be one of them.

Late Note: Yesterday, at 11:30 a.m. EST, spot silver made a second attempt to best the old highs. It briefly touched $49.51 before plunging over 4% in the next hour. I'll have much more to say about this, and the best way to handle it, in the next issue of my newsletter, coming out on Monday.

Good investing,

Chris Weber

Editor's note: Chris Weber has been trading precious metals for decades, making him a millionaire by age 20. Today, 75% of his total net worth is tied up in gold and silver. So when he says he has "never seen such strength" in precious metals, we believe him. Don't miss his latest thoughts on his personal favorite gold, silver, and currency plays
  • #695
  • Apr 29, 2011 4:10pm Apr 29, 2011 4:10pm
Quoting eelfranz
Behman...

Fabulous on your pip trades. Your Blessed buddy...
Thank you, God Bless You! Have a Nice weekend yall!
  • #696
  • Apr 29, 2011 4:30pm Apr 29, 2011 4:30pm
When trading don't bite off more than you can chew. Trading Demo is different than trading live... For some reason it gets harder to pull the trigger when it's real money... that's why its so important to build confidence and study old charts... any pair, any time frame on Demo... and then when you finally go live... Trade a Micro account first... as more confidence builds switch to a Mini account... because if you made a poor entry or decision... it really hurts losing the green stuff... So start SMALL when you switch to live trading...
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  • #697
  • Apr 29, 2011 4:34pm Apr 29, 2011 4:34pm
Quoting Chillypiper
Wonder how the TDI looks like on the monthly? It has a ways to go at this view.
see #692

If so then EURUSD also a little bit.
  • #698
  • Apr 29, 2011 5:09pm Apr 29, 2011 5:09pm
Hi Eelfranz

This looks to be a very good strategy. I put two trades on E/J and Euro$ on this evening and am up 55 pips before the markets closed. Demo account till I get a good feel for this.
I cannot see the drop down box to register for daily updates

Thanks
Greenlake
  • #699
  • Apr 29, 2011 5:11pm Apr 29, 2011 5:11pm
Training Chart - Example of a bounce trade - E/U Monthly chart
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  • #700
  • Apr 29, 2011 5:22pm Apr 29, 2011 5:22pm
Training Chart - Example of a bounce - E/U Weekly..
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