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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

  • #1,261
  • May 3, 2011 11:26pm May 3, 2011 11:26pm
Dean...

Can't say because it varies by candle size...

Like I trade several time frames... I trade each candle for it's individual merits... so I'm happy to take the profit on each one individually. If I get more than 1 candle I'm happy with it too.

I like to shoot for 50 pips a day... I'm not greedy. When I reach it I usually don't take any more live trades that day...

I trade full lots and sometimes multiple lots...

I'm retired and have sufficient income without any extra from trading the forex. I do it because I enjoy it...
  • #1,262
  • May 3, 2011 11:28pm May 3, 2011 11:28pm
fetuo1...

Evidently you haven't read this thread. I've discussed that twice already....
  • #1,263
  • May 3, 2011 11:32pm May 3, 2011 11:32pm
33drifter...

Your Question:

sorry if this has already been covered, i know this method can be traded any pair and any timeframe, but do you have a specefic few that you prefer or are you happy to trade anything with a decent spread and good setup? Yes

My favorites are the 3 Amigos... E/U, G/U and A/U...
  • #1,264
  • May 3, 2011 11:45pm May 3, 2011 11:45pm
Trading Times...

Take any pair and time frame you like to trade... go thru old charts. Each pair has certain times of the day when the action starts repeatedly... over and over. Write the pair down and the most active trading times that happen over and over.

When those times roll around... go monitor those pairs...

Simple but it works...
  • #1,265
  • May 4, 2011 12:01am May 4, 2011 12:01am
Hi eelfranz
Thanks for great thread.
Q: What is your GMT (time zone) ?
  • #1,266
  • May 4, 2011 12:16am May 4, 2011 12:16am
what do we think guys and girls???
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  • #1,267
  • May 4, 2011 12:20am May 4, 2011 12:20am
weak candle, against trend and no stochastic agreement?
This pair has a low Average Daily range too
  • #1,268
  • May 4, 2011 12:33am May 4, 2011 12:33am
I considered taking this one but didn't.

TDI/STOCH angle could have been better
on the weekly we're in an up trend
the setup candle could have been stronger
Momentum seemed to have fizzled out on the lower timeframes.
Still could go for 60 pips maybe
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  • #1,269
  • May 4, 2011 12:37am May 4, 2011 12:37am
Quoting 2scoops
weak candle, against trend and no stochastic agreement?
This pair has a low Average Daily range too
my 2 cents:-
1. weak candle - looks a bit like a doji - indicates that market is fighting for direction.
2. shoch is not downward trending
3. wait for 2nd candle to see further

2scoops: mind sharing the indicator you use for the average daily range ? thanks.
  • #1,270
  • May 4, 2011 12:39am May 4, 2011 12:39am
I took this trade long at the open of the current candle. Appreciate any feedback. Thanks.
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  • #1,271
  • May 4, 2011 12:40am May 4, 2011 12:40am
Present candle just turned red though!!
  • #1,272
  • Edited 1:12am May 4, 2011 12:40am | Edited 1:12am
Eelfranz and traders..

Setup looks good on gbpusd h1 and audusd h1.. the stochs also in agreement with TDI (although i did not attach it to the chart when i saved it).

Your comments are highly appreciated..

Many thanks.
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  • #1,273
  • May 4, 2011 12:56am May 4, 2011 12:56am
Quoting geekay
Eelfranz..

Setup looks good on gbpusd h1 and audusd h1.. the stochs also in agreement with TDI (although i did not attach it to the chart when i saved it).

Your comments are highly appreciated..

Many thanks.

Geekay,

I was looking at the same charts.... , note of caution on the GBPUSD pair, there is some news coming out at 7.00am and 09.30am UK time (GMT +1). Good Luck!
  • #1,274
  • May 4, 2011 12:56am May 4, 2011 12:56am
Quoting macbow
Present candle just turned red though!!

i was tempted to go long also but PA still not in my favor, thanks for the chart
  • #1,275
  • May 4, 2011 2:12am May 4, 2011 2:12am
Lesso

I was trying to PM you but your profile does not allow me.

Can you PM me re my post 1218........ thanks

Greenlake
  • #1,276
  • May 4, 2011 2:25am May 4, 2011 2:25am
[IMG]file:///C:/DOCUME%7E1/paolo/IMPOST%7E1/Temp/moz-screenshot.png[/IMG][IMG]file:///C:/DOCUME%7E1/paolo/IMPOST%7E1/Temp/moz-screenshot-1.png[/IMG]Hy guy!!

Is a good entry point?

Your comments are appreciated..

Many thanks.
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  • #1,277
  • May 4, 2011 2:29am May 4, 2011 2:29am
To all the HA candle experts out there,

from my understanding HA candles pretty much represent the trend. so intsead of placing SL above/below previous high or low could we place it above/below the change of HA colour.

The idea behind this is that PA has taken out the level that previously established the trend we're looking to capture. this would save us many pips

are there any examples of price breaking the high/low of the first candle that changed colour but not the high/low of the last swing and then conituing in the direction of the trend

does that make sense?
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  • #1,278
  • May 4, 2011 2:38am May 4, 2011 2:38am
I like that idea drifter...it brings the RR ratio in miles as well so we can possibly come up with set and forget trades of say 2:1 or more depending on the average pip haul on winners. 3:1 would be just lovely thanks.
  • #1,279
  • May 4, 2011 2:50am May 4, 2011 2:50am
Quoting 33drifter
To all the HA candle experts out there,

from my understanding HA candles pretty much represent the trend. so intsead of placing SL above/below previous high or low could we place it above/below the change of HA colour.

The idea behind this is that PA has taken out the level that previously established the trend we're looking to capture. this would save us many pips
Thanks for this little tip havent used HA candles all that much so definitely may save us some pips in stop losses
josh
nollej is power..
  • #1,280
  • May 4, 2011 2:57am May 4, 2011 2:57am
Good morning.

Was pissed that I missed the first trades of the day (sleeping), so ofcourse I entered too late and was hit by red numbers.

First lesson of the day.
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