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Trading Made Simple system follower - Thanks to eelfranz 9 replies

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Trading Made Simple

  • #1,881
  • May 9, 2011 4:38am May 9, 2011 4:38am
Quoting 33drifter
Hey Dean,

I havent been actively trading much lately, more just watching from the side line, although i have had a few trades and ive been putting my stops a few pips above/below the colour change. Looking back through the charts, vary rarely does PA take out that colour change, unless its during a news spike in which case im not in the trade anyway.

I took that U/C long as well, i held it through the flat period and looks like its on its way to 97.

im also constantly refreshing the TDI, i think a trade should be managed the whole way through....
Thanks mate, I will let you know how I go with testing. I am still undecided about the refreshing....like you I think managing a trade is a good thing however it could actually affect the basis of this method (in saying that it could be a positive affect). Point is Eeelfranz doesnt do it and doesnt recommend it and this all seems to be a very succesful method so I am averse to refreshing. He stated in a post today..he doesnt refresh his charts. Just a point I figured you should know
  • #1,882
  • May 9, 2011 4:42am May 9, 2011 4:42am
Quoting Defiant
Thank you for the feedback, and I have a question.
Would you only wait for crossover in TDI and Stochastic and of course PA or something else to confirm entry? (longer candles, general trend...)

I read somewhere in a post that for A grade trade all indicators should pose in direction of trade.

Still a rookie, thank you for patience.

Cheers
Yep if the ema and the red line are also pointing in the same direction it is a bonus....its not the entry signal though. Grenn line crossed red, correct angle, confirm with stoch angle, check PA and forex basics
  • #1,883
  • May 9, 2011 4:43am May 9, 2011 4:43am
What do you think about usdchf if next hour candle will be positive for signal?
http://i20.fastpic.ru/big/2011/0509/...3d6326de77.png
  • #1,884
  • May 9, 2011 4:50am May 9, 2011 4:50am
Quoting dean
Thanks mate, I will let you know how I go with testing. I am still undecided about the refreshing....like you I think managing a trade is a good thing however it could actually affect the basis of this method (in saying that it could be a positive affect). Point is Eeelfranz doesnt do it and doesnt recommend it and this all seems to be a very succesful method so I am averse to refreshing. He stated in a post today..he doesnt refresh his charts. Just a point I figured you should know

point taken, i should clarify my view. i will always wait till the end of the candle to make my dicision on exiting the trade, however if i see the tdi flat at the close of a candle i wont place as much importance on it if ive seen the tdi going flat and then steep over and over through out the hour
  • #1,885
  • May 9, 2011 4:52am May 9, 2011 4:52am
Any thoughts on a AUDUSD short on the 1hr chart?
  • #1,886
  • May 9, 2011 4:54am May 9, 2011 4:54am
Quoting Sjr
Hi babnz48. Here's the same chart your looking at almost 3 hours later.
On my feed the TDI hasn't even come close to crossing. Im using FXDD.
Can someone explain my my TDI seems to lag so much? Anyone ?? Big E ??
both 4h charts about two hours apart but both look the same as you say. . I don't know why this is as we are both on fxdd.
  • #1,887
  • May 9, 2011 4:56am May 9, 2011 4:56am
Hi everybody,

I'm new here as well. Looks like a great system and would like to thank Eelfranz for sharing it with us. Hope to make a lot of green pips!!!

Looking at the 1H of AUD/USD right now is the wright signal isn't?? Green crossed red, nice angle so next candle could be an entry??
  • #1,888
  • May 9, 2011 5:06am May 9, 2011 5:06am
SL is 30pips - Target 30 pips or more if TDI indicates a push through last high
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  • #1,889
  • May 9, 2011 5:15am May 9, 2011 5:15am
Quoting 33drifter
SL is 30pips - Target 30 pips or more if TDI indicates a push through last high
I'm also in this trade, markets are very slow today so hope it makes a few
  • #1,890
  • May 9, 2011 5:21am May 9, 2011 5:21am
Also target 30 pips where the resistance lies to the left
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  • #1,891
  • May 9, 2011 5:30am May 9, 2011 5:30am
Quoting Reece2076
Yes but do you wait until the candle closes to verify. Or if it clearly crossed upon opening of the first or 2nd candle is that ok.

I ask because if the the candle crosses at the beginning of the 2nd candle and you have to wait until it closes, you can't enter on the beginning of the 3rd candle according to the rules.

So do you take a chance and take the trade at the beginning of the second candle since the TDI crossed over. Or do you not risk the chance that the TDI may uncross before that candle closes?
Thanks for the input Dean.
  • #1,892
  • May 9, 2011 5:31am May 9, 2011 5:31am
Was this right entry?
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  • #1,893
  • May 9, 2011 5:41am May 9, 2011 5:41am
Quoting eelfranz
Alien Frog...

Your Question:

Question: So the "third candle no trade rule" means the third RED (or blue) candle in a row? Yes... only enter on candle 1 or 2. On candle 3 and above pass and watch for a possible bounce trade...

DyeKid, thanks for posting your chart. I'm watching this trade. The new candle just opened. The green lines in both charts just went...
Thanks Big E.
Luck occurs when preparation meets with opportunity.
  • #1,894
  • May 9, 2011 5:44am May 9, 2011 5:44am
Quoting Chillypiper
I get a little frustrated when people keep adding stuff and then posting it on the forum. I repeatedly ask others to PM others on the thread with the new ideas and not posting them. At least PM me with their ideas...

The main entry rule is: green crossing red on the TDI within the first 2 candles for an entry...

I don't care what the red TDI line is doing....
I thought I would repost this, just because.......Thanks Eelfranz!!!
Good Luck to all this week!
Chilly[/quote]
Chilly, thanks for reposting that. I'm a noob trying to learn. I want to make money and this helps keep it clear. I'm saving up for a wheelbarrow...
Luck occurs when preparation meets with opportunity.
  • #1,895
  • May 9, 2011 6:05am May 9, 2011 6:05am
Eelfranz my good friend,

just a quick question for you. i think i recall you saying that you try to make 50pips a day. is that right?

how many trades on average do you take a day? i see quite a few setups everyday but not many that go the distance to 50+. are you happy to take 5 trades of 10 pips each?

any seniors out there, feel free to weigh in on this one
  • #1,896
  • May 9, 2011 6:11am May 9, 2011 6:11am
Quoting 33drifter
Eelfranz my good friend,

just a quick question for you. i think i recall you saying that you try to make 50pips a day. is that right?

how many trades on average do you take a day? i see quite a few setups everyday but not many that go the distance to 50+. are you happy to take 5 trades of 10 pips each?

any seniors out there, feel free to weigh in on this one
Mate not to talk for him but I am pretty sure his aim is for 50 but not ncessarily from the one trade. I get the feeling this is his scalping really...more closely monitored than the 4 hour trades. But I havent read or remember anywhere that he aims for 50 out of a single trade....he probably often gets it
  • #1,897
  • May 9, 2011 6:12am May 9, 2011 6:12am
Quoting 33drifter
Eelfranz my good friend,

just a quick question for you. i think i recall you saying that you try to make 50pips a day. is that right?

how many trades on average do you take a day? i see quite a few setups everyday but not many that go the distance to 50+. are you happy to take 5 trades of 10 pips each?

any seniors out there, feel free to weigh in on this one
are you asking this becasue your tdi just kinked??
  • #1,898
  • May 9, 2011 6:28am May 9, 2011 6:28am
I think BigE was just pointing out that you don't need to hit a home run with every trade and everyday, he's quite happy to bag his 50 pips and call it a day. On a day like this patience is key and don't get too greedy when a good opportunity comes along.
  • #1,899
  • Edited 6:43am May 9, 2011 6:31am | Edited 6:43am
Quoting dean
are you asking this becasue your tdi just kinked??

haha yep,

im also just looking at my account history, im not seeing too many large trades. everyone always posts the big winners, but you seldom hear about the small ones.

looking at my past trades, ive closed out almost all of them at around break even after they have made a move of around 15 pips and then retraced to my entry point, causing the TDI to go flat. if i had just set a hard TP of 10 pips id have a larger account size at the moment but i would have missed 2 trades of around 40 pips each.
  • #1,900
  • May 9, 2011 7:00am May 9, 2011 7:00am
Morning,
Of the 2 trades you mentioned that would have gone 40 pips or so, did they offer a reentry opportunity?

Quoting 33drifter
haha yep,

im also just looking at my account history, im not seeing too many large trades. everyone always posts the big winners, but you seldom hear about the small ones.

looking at my past trades, ive closed out almost all of them at around break even after they have made a move of around 15 pips and then retraced to my entry point, causing the TDI to go flat. if i had just set a hard TP of 10 pips id have a larger account size at the moment but i would have missed 2 trades of around 40 pips each.
I get exercise just pushing my luck
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