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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

  • #881
  • May 2, 2011 3:00am May 2, 2011 3:00am
Quoting dean
Hi Alan,
I also agree and this is one issue I have trouble with. My understanding is that becasue it is such a lang time frame, even 2 candles could give a significant amount of pips on the correction and the tdi would alert us when to exit the trade before it wnet back to the upward trend. However one post has said to always confirm with the one hour chart, which I did and it all seemed to agree?? This part I find a bit confusing. Should we disregard signal that are perfect but actually against the longer term trend?? or should we trust the tdi...
Hi Dean,

I suggest following the system as per Eelfranz's original directions. There will always be losses with any trading methodology, no matter how hard we try to optimise a system in order to avoid them.

After a few weeks, it should become apparent whether following the trend in the direction of daily or weekly chart is more profitable than taking every trade that is signalled. From my perspective, it's a case of giving the system a fair chance, without any subjectivity on my part.
  • #882
  • May 2, 2011 3:05am May 2, 2011 3:05am
The market just seems pretty slow/flat at the moment (as expected)
  • #883
  • May 2, 2011 3:19am May 2, 2011 3:19am
Best to play the market for small pip gains this session due to the sluggish market movement. I have made 80 pips across 6 pairs and calling it a night early.
  • #884
  • May 2, 2011 3:20am May 2, 2011 3:20am
Dean,
Since you aren't used to trading this time frame may I suggest setting a limit order based on the previous candles high/low?

I have never been a fan of just "Jumping into" a trade mid candle. You set the limit order, if price triggers it good, if not good also.

Chances are if price moves away from the prediction of TDI and if indications are that it will come back, this will provide you a viable entry into the trade, removing the stress of "When do I enter?". Let price come to you!

This is how I trade all of my methods, including this one now (which is rock solid by the way). I've taken 3 trades with this method using previous candle high / low- all winners.

Again this is my methodology and not intended to confuse the method rules for newbies. I have found this to be a sound method of entry for me no matter the system.

Hope this helps

Quoting dean
I have complete faith in the seniors bom bom..its myself I dont have faith in at present. I know to accept losses and I am willing to do so. Same as you, I just want to know I have taken the trade correctly. If I have, I am willing to accpet the loss.
  • #885
  • May 2, 2011 3:26am May 2, 2011 3:26am
Quoting prof8t
Best to play the market for small pip gains this session due to the sluggish market movement. I have made 80 pips across 6 pairs and calling it a night early.
Wow - good work. I should be doing more trading - less chatting on here :-) what timeframe were you using?
  • #886
  • May 2, 2011 3:36am May 2, 2011 3:36am
Quoting 2scoops
Wow - good work. I should be doing more trading - less chatting on here :-) what timeframe were you using?

4-hour, but I am playing the market for 15 to 20 pip moves. First 4-hour candle opportunity of the night I played 4 pairs for 15 pip moves. Just closed two opportunities this 4-hour candle for 10 pips each. My daily goal is only 20 pips so I consider this another successful trading session.
  • #887
  • May 2, 2011 3:39am May 2, 2011 3:39am
Colostarr,
I entered at the opening of the new candle as per the rules. eelfranz explained that if a pullback happens it is usually in the 3rd and 4th huour of a candle so better to get in at the opening of a new candle. The tdi had crossed and at the opeining of the new candle it was in agreeance with the price action and the stoch.
eelfranz says if he sees that signal at the opening of a new candle he is immediately in, so I think although it is succesful for you, I am probably best trying to perfect the original method. As I said....I dont mind if I have to take a loss on this trade, as long as I made the right decision to enter it, and I feel it looked to be a high probabilty trade.
Can you confirm please eelfranz?? I entered on red line. TDI had not quite crossed until maybe the last hour on previous candle.
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  • #888
  • May 2, 2011 4:06am May 2, 2011 4:06am
so new candle brings flattening of TDI. This is our signal to exit bom bom correct??
  • #889
  • May 2, 2011 4:12am May 2, 2011 4:12am
ok..finally 9 GMT
I'm out for :
1. GBP : -16 pips
2. USDJPY : 0 pips
3. USDCHF : +6 pips

Below are my analysis charts, please comment if I'm interpreting wrongly

Quoting dean
so new candle brings flattening of TDI. This is our signal to exit bom bom correct??
Dean..correct, I'm out for -16 pips. It's OK Dean We'll get positive on next opportunity Afterall, for 4 Hours trade we loss 16 pips, that's awesome !!! (just trying to be positive on negative situation Buddy !)
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  • #890
  • May 2, 2011 4:13am May 2, 2011 4:13am
Attachment exceed limitations on previous post..these are the next analysis chart
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  • #891
  • May 2, 2011 4:27am May 2, 2011 4:27am
I'm long AUD/USD. This is the 1hr, and I'm betting on it leading the 4 hr. If not, oh well. Shit happens. LOL But, this has been trending up pretty strong, and I don't mess around with trying to pick tops, so long it is, at least for now.

http://i71.photobucket.com/albums/i1...hert/AU4HR.png
Get money, don't let money get you. @kauaiforex
  • #892
  • May 2, 2011 4:42am May 2, 2011 4:42am
calling all tech guys and girls.

I have all the indis on my chart no worries and i am able to change the colours to what i want, the problem is when i change timeframes or close then re-open mt4 the changes i made have been lost and the indis are back to default.

is there a way to save my changes?

Thanks in advance
  • #893
  • May 2, 2011 4:46am May 2, 2011 4:46am
Quoting 33drifter
calling all tech guys and girls.

I have all the indis on my chart no worries and i am able to change the colours to what i want, the problem is when i change timeframes or close then re-open mt4 the changes i made have been lost and the indis are back to default.

is there a way to save my changes?

Thanks in advance
Right click the chart after you have it the way you want it, then hover over template, then select save template. It should load the way you want it from that point on.
Get money, don't let money get you. @kauaiforex
  • #894
  • May 2, 2011 4:47am May 2, 2011 4:47am
eelfranz,
bom bom closes out his trades at the same GMT you do. Is this a hard and fast rule or is it just to fit in with your day?? I mean I think he is closing out regardless of his trades being wins or losses purely becasue you close all your trades at that time. IS this the case or should we just leave them open until our tdi signals to close the trade or we have met our own take profit levels?? The time you close is not specific to all of us is it?? I am assuming closing the trades is more consistent with the tdi or market sihan the time?? am I wrong?? I ask this becasue bom bom closed today on two trades that could have netted him more pips but they were closed out. Sorry for all my questions today. I am re-reading the whole thread and putting together a trade plan so the questions are flowing thick and fast. Thank you
  • #895
  • May 2, 2011 4:51am May 2, 2011 4:51am
Nojobrob,
I would not have taken that trade because the tdi and the stochs are quite high up towards the overbought levels particularly on the 4 hour chart so be careful. You also have the US market opening in 2 hours when everything could reverse with the bin laden news.
Not criticising you and I hope you do well, just something to look out for.
  • #896
  • May 2, 2011 5:02am May 2, 2011 5:02am
Quoting NoJobRob
Right click the chart after you have it the way you want it, then hover over template, then select save template. It should load the way you want it from that point on.
Thanks for that but doesnt seem to work, any other other ideas?
  • #897
  • May 2, 2011 5:06am May 2, 2011 5:06am
I have found that trading this system, useing a 30 to 50 pip stop ( I do not use stop losses on my trades becuse I am looking at them, I use them visually) works 90% in my favor anyway. i have had my account go 500.00 in the hole and turn around and go 1000.00 in profit, use lower lots sizes until you can get more confidence in the system. thats just me .

I have a bad habit in getting in to early and having to wait it out, some thing I am working on getting better at. Watch the daily, H4 and H1 it usually goes by way of the H4 and the Daily.

For years i got out to early or cut my losses , only to turn and go in my favor AFTER I got out, it was a hard lesson to learn but if the higher time frames are pointing in your direction , 90% of the time it will get there.
  • #898
  • May 2, 2011 5:07am May 2, 2011 5:07am
Some brokers only allow so many templates, might try removing some of them and then try it.............Who are you using?



Quoting 33drifter
Thanks for that but doesnt seem to work, any other other ideas?
  • #899
  • May 2, 2011 5:09am May 2, 2011 5:09am
  •  sam21
  • | Joined Aug 2010 | Status: Soon to be employed by the market | 125 Posts
bounce trade 5 minute
  • #900
  • May 2, 2011 5:12am May 2, 2011 5:12am
Rather than me attempting to align myself with eelfranz's time zone (I am in SYdney, Australia) can anyone tell me what session he trades?? I THINK its the London session which starts at 5pm our time. We are GMT+10.
I think it would be easier if everyone new which session he traded and align their trading to that??? maybe??
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