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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

  • #1,081
  • May 3, 2011 12:44am May 3, 2011 12:44am
Quoting stimuls
Thanks eelfranz, kumodrago, and jrushing for straightening out the entry rules for me. For some reason I thought all the potential entries need to happen after the TDI cross of the closed bar.

I know the cross should only be treated as an alert and there are many factors which needs to be considered to gauge potential of a trade. When you guys speak of PA, this is PA on the HA bars, not the actual bars, correct? I think the biggest adjustment for me is to trade w/o seeing the PA of the actual bars.

Thanks again.
Hi,

I found the same thing, if you click the paperclip in the Right hand top corner and get this indi
Heiken Ashi_SWAlert...mq you can just have the HA colour across the bottom in a separate window.

If you go to page 38 and look at post 559 you can see what it looks like on a chart

HTH
Money grows on the tree of persistence
  • #1,082
  • May 3, 2011 12:54am May 3, 2011 12:54am
1hr trade. I am trying my best to stick to 4hr trades but was unable to pass by this opportunity.
I probably entered 1 candle late.
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Faith with Action
  • #1,083
  • May 3, 2011 1:42am May 3, 2011 1:42am
Quoting hinnavaru
1hr trade. I am trying my best to stick to 4hr trades but was unable to pass by this opportunity.
I probably entered 1 candle late.
I wish i was in that trade lol.. On AU wich is not in my favor right now
Don't Ask ..
  • #1,084
  • May 3, 2011 2:06am May 3, 2011 2:06am
Quoting raymie69
I wish i was in that trade lol.. On AU wich is not in my favor right now
I heard someone saying that AU is the most happening pair right now. (hope that cheered you up)
Faith with Action
  • #1,085
  • May 3, 2011 2:08am May 3, 2011 2:08am
Daily chart and yes against the major trend, however tdi and stochs coming out of oversold and I imagine one daily candle would be worth a lot of pips.
Greeen has crossed red...good angles on tdi and stoch .....is it an entry??
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  • #1,086
  • May 3, 2011 2:15am May 3, 2011 2:15am
Look at your 4 hr, wait for it to close, we are also coming upon the london open

Quoting dean
Daily chart and yes against the major trend, however tdi and stochs coming out of oversold and I imagine one daily candle would be worth a lot of pips.
Greeen has crossed red...good angles on tdi and stoch .....is it an entry??
  • #1,087
  • Edited 4:36am May 3, 2011 4:13am | Edited 4:36am
Good morning,, missed a few good trades last night ;-(
(USD/CAD & GBP/USD)

But waking up every hour? That's hardcore ;-)
And every 4 hours? Good luck falling asleep after that.
  • #1,088
  • May 3, 2011 4:19am May 3, 2011 4:19am
Can You please tell me
what Ma are You using wit HA?
Zuzia
  • #1,089
  • May 3, 2011 4:51am May 3, 2011 4:51am
Quoting zuzia9
Can You please tell me
what Ma are You using wit HA?
Zuzia
EMA 5, shift 3, Typical Price [HLC/3]
Get money, don't let money get you. @kauaiforex
  • #1,090
  • May 3, 2011 4:56am May 3, 2011 4:56am
Quoting eelfranz
Oh man... what a trade.... easy money... TDI starts at 5pm angle and tweeks to 5:45pm angle.... who caught this?
Hi Eelfranz,

I couldn't help but notice how good that trade looked. One thing though, my chart/s often look quite different than those posted. Im using FXDD and often the TDI looks different.

Please take a look at my post chart and you'll notice the differences.
Im wondering if I should delete MT 4 and start completely fresh using the TDI indicator from this forum.

It might explain why on my charts often when I get in its usually one bar to late.

Any/all comments or suggestions welcome
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  • #1,091
  • May 3, 2011 5:39am May 3, 2011 5:39am
I think for me now the only missing piece of the 5 method I need to sharpen up on is knowing when to exit if the trade starts to pull back on me.

I know BigE uses quite an early exit strategy if it pulls back more than 15 pips he gets out.

I however can't use this exit strategy as i'm at work and I can't frequently check the trade.

The strategy I'm considering using is to check the trade mid candle (after 2hrs). If its pulled back on me I'll check for any change in the tdi/stochastic and colour change on the candle and then double check it was a valid entry (5 method rules and forex basics were met).

If i'm still confident I'll stay in until the end of the candle or exit otherwise.

I would love to hear your thoughts on monitoring 5 method trades and managing exits.
  • #1,092
  • May 3, 2011 5:50am May 3, 2011 5:50am
Quoting 2scoops
I think for me now the only missing piece of the 5 method I need to sharpen up on is knowing when to exit if the trade starts to pull back on me.

I know BigE uses quite an early exit strategy if it pulls back more than 15 pips he gets out.

I however can't use this exit strategy as i'm at work and I can't frequently check the trade.

The strategy I'm considering using is to check the trade mid candle (after 2hrs). If its pulled back on me I'll check for any change in the tdi/stochastic and colour change on the candle and then double check it...
Can you online when you are at work? If so, you can try logmein to manage your trades every 4 hourly.
  • #1,093
  • May 3, 2011 5:57am May 3, 2011 5:57am
I am delighted with this system
usd/cad +34 pips
gbp/usd +80 pips

It remains only to not prozivat output. It's yet I have not really get ...

thank you all for your training, pictures and kometarii. Special thanks to those who started this thread on the forum. I never thought that torgvlya forex is so easy ...
  • #1,094
  • May 3, 2011 6:05am May 3, 2011 6:05am
I dont think he actually mentioned that he squared up if it pulled back 15 pips. I think he just said if he saw signs that the trade was stalling and it pulled back from say 50 pips to 10 or 15, he took the 15 and just moved on to the next trade.
Maybe your best idea is coming up with a set and forget SL and TP?? Seems to be a lot of pips on a good trade on the 4 hour charts so you should be able to get a 3:1 ratio or close enough. FOr example 25pip SL and 75 (or more) TP and break even at say 35 up.
Thats the road I will head down once I am used to it. I like the idea of set and forget to take off the stress of monitoring the trade and there seems to be enough in these trades to handle that risk/reward. Get them right 66% of the time and you are laughing
  • #1,095
  • May 3, 2011 6:06am May 3, 2011 6:06am
Quoting GeraldFX
Can you online when you are at work? If so, you can try logmein to manage your trades every 4 hourly.
Yes that's what I do, I use logmein during work and check every 4 hrs, maybe the answer for me is to forget checking mid trade altogether and only check on the formation of the new 4hr candle.
  • #1,096
  • May 3, 2011 6:10am May 3, 2011 6:10am
Quoting 2scoops
Yes that's what I do, I use logmein during work and check every 4 hrs, maybe the answer for me is to forget checking mid trade altogether and only check on the formation of the new 4hr candle.
You check your trades 5mins before the next 4hr candle. As long as you have a confortable SL, why worry?
  • #1,097
  • May 3, 2011 6:15am May 3, 2011 6:15am
What's your opinion on an SL for the 4 hr?
  • #1,098
  • May 3, 2011 6:23am May 3, 2011 6:23am
Quoting Lawton
Hi eelfranz, KumoDragon
I basically understand most of the entry and exit rules. The rules are quite clear.

The only thing I'm a bit puzzled about is the Stochastic indicator as a confirmation. Would we need the Stochastic and TDI to be unison? (sloping the same direction) before entering?
I assume this correct thing to look out for.

Just some observation.
Note: in 4hour AUDUSD, the TDI is heading down (after 3rd candle) and the Stochastic may have bottomed.

I am assuming here, the PA may have bottomed out.
From your experience, would this...
I asked the same question. Stochastic confirmation is just the direction it's pointing.

Also keep in mind with stochastics, just because stochs hit bottom doesn't mean a reversal is imminent. Often with stochastics when it hit's bottom, and is still point down, is when the price is really going to make a short move.

There are stochastic trading methods that utilize just that.

If you were trading stochastics only and looking for a reversal, you'd actually wait for them to hit bottom or top, cross and turn and leave overbought/oversold. The area where the hit overbought oversold is often where a good part of the long/short move is, so you'd actually wait for it to leave that area, if looking for stochastic reversal......

But, with this method, you only worry that the stochs are pointing in the same direction as the TD cross.
  • #1,099
  • May 3, 2011 6:32am May 3, 2011 6:32am
Quoting 2scoops
I think for me now the only missing piece of the 5 method I need to sharpen up on is knowing when to exit if the trade starts to pull back on me.

I know BigE uses quite an early exit strategy if it pulls back more than 15 pips he gets out.

I however can't use this exit strategy as i'm at work and I can't frequently check the trade.

The strategy I'm considering using is to check the trade mid candle (after 2hrs). If its pulled back on me I'll check for any change in the tdi/stochastic and colour change on the candle and then double check it...
check the TD on the start of every 4H candle only. IME if you go by in between candles you'll end up getting faked out.

3 times now I got out because of what it looked like inbetween candles, which caused me to get out of a trade with more loss than if I had gone by direction of the td at the open. I've found that often a flat td at open will get your with little loss or break even or a little gain. As opposed to a bigger loss getting out inbetween.

Of course nothing wrong with locking in profit if you see it flattening tweaking.

But IME if the trade is negative already, you'll get out with less loss if you wait for the td open, because you get out at a retrace.
  • #1,100
  • May 3, 2011 6:36am May 3, 2011 6:36am
Quoting stimuls
Thanks eelfranz, kumodrago, and jrushing for straightening out the entry rules for me. For some reason I thought all the potential entries need to happen after the TDI cross of the closed bar.

I know the cross should only be treated as an alert and there are many factors which needs to be considered to gauge potential of a trade. When you guys speak of PA, this is PA on the HA bars, not the actual bars, correct? I think the biggest adjustment for me is to trade w/o seeing the PA of the actual bars.

Thanks again.
Yes, pa of the price range bars. Myself after I enter a trade as per the rules I open another plain chart, just so I can see the actual candle formations and levels and catch things like pin bars.
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