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Trading Made Simple system follower - Thanks to eelfranz 9 replies

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Trading Made Simple

  • #2,081
  • May 10, 2011 1:11pm May 10, 2011 1:11pm
Quoting mlambole
Hi pete,

From what I understood one must enter when the green line crosses the red line in the TDI indicator. At the 3 places where I put the blue lines the green line just crossed the red line, the second blue bar it's not perfect but on the first blue bar and third blue bar the green line clearly crossed the red line. This is the reasoning behind those blue bars. What am I missing ? Thanks for helping
http://www.forexfactory.com/attachme...1&d=1305048191

Mlambole, starting from the left side of the chart, notice the red candles, they are moving side-ways, then slightly down and with a strong move upwards, a sign of strong buying on the cards. Then there is a retracement(red candles down, possible profit-taking, buyers selling to take profit) during the UP TREND. That retracement caused the tdi to cross down = NO TRADE.
The second blue line is exactly the same scenario, only in the opposite direction, in other words, during a DOWN TREND.
Blue line three is very much the same as # 2.
Hope this helps.

Pete
  • #2,082
  • May 10, 2011 1:17pm May 10, 2011 1:17pm
Quoting pete123
Hi mlambole,
It is very clear to me why eelfranz did not mark those positions as entry points. I think you either do not understand the method or you are reading something completely different into the method. Perhaps if you want to explain in your own words what your reason for thinking that the positions your have marked as possible entry points, we could help you in the right direction.

[font=Comic Sans MS][size=3][color=#0000ff]Eager...
Pete,

Can I make a request that you not use the blue fonts and leave them for big eelfranz so as when scrolling thru this thread his posts are more easily identifiable. Thanks.
  • #2,083
  • May 10, 2011 1:42pm May 10, 2011 1:42pm
Quoting pete123
http://www.forexfactory.com/attachme...1&d=1305048191

[font=Comic Sans MS][size=3][color=blue]Mlambole, starting from the left side of the chart, notice the red candles, they are moving side-ways, then slightly down and with a strong move upwards, a sign of strong buying on the cards. Then there is a retracement(red [color=blue]candles down, possible...
Pete,

The first blue line and the third red line are the same, you don't know if it's gonna be a retracement or a bigger down move.
  • #2,084
  • May 10, 2011 1:44pm May 10, 2011 1:44pm
Quoting AlexC
Pete,

Can I make a request that you not use the blue fonts and leave them for big eelfranz so as when scrolling thru this thread his posts are more easily identifiable. Thanks.
AlexC, if you need to find eelfranz's posts, you only need to go to his profile and call up his posts, all listed in date order, one after the other, all together. Much easier than scrolling through an ever increasing thread.
Good Trading!
Pete
  • #2,085
  • May 10, 2011 1:54pm May 10, 2011 1:54pm
Quoting mlambole
Pete,

The first blue line and the third red line are the same, you don't know if it's gonna be a retracement or a bigger down move.
Mlambole, go back and read my explanation regarding the red candles to the left of the first red line. The third red line has no such 'side-ways moving' candles. It is also helpful to go down a time frame to see what the underlying price-action is up to. We don't just jump onto every cross of the TDI. We have to use some discretion in our trading plan. Practice, practice...............

Pete
  • #2,086
  • May 10, 2011 1:58pm May 10, 2011 1:58pm
Diego:

Using the trading Simulator lets go back in time to the last good long reversal on the U/J daily from the 21st of March 2011 (shown on the first chart). This was taken from just after the candle formed.

On the second chart you see the trade you took on Sunday again just after the candle formed.

Notice the differences:

Chart 1:

Large candles, 1 o'clock angle on TDI and the bonus of a strong uptweak on the EMA, good recent reversal.

Chart 2:

Weak candle, weaker angle on the TDI, no recent strong reversals, strong downtrend on higher timeframes, ema still pointing down slightly.

In short it was just a bit of profit taking near to an old support area
Attached Image(s) (click to enlarge)
Click to Enlarge Name: march21.gif Size: 30 KB
Click to Enlarge Name: may9.gif Size: 30 KB
  • #2,087
  • May 10, 2011 2:07pm May 10, 2011 2:07pm
Quoting pete123
AlexC, if you need to find eelfranz's posts, you only need to go to his profile and call up his posts, all listed in date order, one after the other, all together. Much easier than scrolling through an ever increasing thread.
Good Trading!
Pete
It's not the same my friend. When going thru this thread, everyone can see the charts and the questions of other posters with Big e's responses in blue. Big e is the Threadstarter, the Thread Creator and he is like a teacher correcting the students ergo the reserved blue comic sans fonts. I hope you understand my point.
  • #2,088
  • May 10, 2011 2:19pm May 10, 2011 2:19pm
Good Morning Everyone... It's 11:49am here.... close but no cigar... ?

Anyway... Here goes:

Dean 1982 - Always expect a drop to the next level on a short or reversal there possibly...

Otiose 1983 - training chart of the size of candles where I wouldn't take an entry...

littlebunny 1984 - yes

gerald 1985 - The 4 o'clock angle is on the edge of no mans land... maybe yes or maybe no. Best if it's at a 5 o'clock angle... stronger...

Dean 1986 - No TP... I'll let it ride or take me out...

Chews - Missed you buddy. Congrats on those pips... wow !

pigwiddeon 2065 - Proper entry would have been on candle #1. On candle #2 if you would have exited at a 12-15 pip pullback... you would have been in profit...

miambole 2076 = 1st blue line... 50/50 chance... blue line #2/3 shows TDI green flat (exit signal) and consolidation which I don't enter trades in...

  • #2,089
  • May 10, 2011 2:22pm May 10, 2011 2:22pm
I closed my weekly trade 21 pips positive... not much action for 2 days... get out if that happens...
  • #2,090
  • May 10, 2011 3:14pm May 10, 2011 3:14pm
Quoting pigwiddeon
why doesn't my stoch confirm? It was sloping downwards
hard to tell, it looks flat to me
  • #2,091
  • May 10, 2011 3:19pm May 10, 2011 3:19pm
Quoting mlambole
I attached a chart that I found on the first page of this thread and I marked 3 blue lines that seem to be valid entries but eelfranz didn't highlight them. Can anyone explain if the entries at the blue lines are valid or not ? Thank you
because directly at your blue lines the tdi green really has no angle to judge
  • #2,092
  • May 10, 2011 3:50pm May 10, 2011 3:50pm
It's time to kick ass and chew bubblegum, and im all outta bubblegum

Seriously BigE you have balls of steel my friend.
Attached Image (click to enlarge)
Click to Enlarge Name: BALLSOFSTEEL.png Size: 241 KB
  • #2,093
  • May 10, 2011 4:05pm May 10, 2011 4:05pm
usd/cad daily short
any comments ?
Attached Image (click to enlarge)
Click to Enlarge Name: uc.jpg Size: 168 KB
  • #2,094
  • May 10, 2011 4:19pm May 10, 2011 4:19pm
Quoting eelfranz
Shocking Revelation -

Time to fess up Rastis... get the gun and dynamite Buffalo man ... yikes ! Put it in the headlines... take him to court... Strip off his Air Jordans.... tell his mother... oh no.... just don't tell the wife because I'll lose the TV Flipper for 2 weeks... You got to consider the important things...

[font=Comic Sans MS][size=3][color=#0000ff]I've never used money management rules like most...
Wow 30% risk. That's great if you can be consistent without tanking.

I have to ask how long have you been trading at that level of risk?

The reason I ask is that I've personally tanked about 5 accounts now and every single account tank had the same thing in common, over leveraging. And it WAS the single biggest nail in the coffin.

I know this method is really good at entrances and exits, but the 1-5% rule of risk per trade really is important IME. I would highly advise that anyone that is new to trading to keep risk between 1-5% per trade. (compound up and down with balance.) That way you have a lot of trades before your account is tanked and can at least learn to trade.

15-30% losses, per trade will very quickly tank your account in just a few trades. Don't ramp up risk until you have developed a solid track record of win/loss risk/reward over at least 100 trades so you can mathmatically figure the probability of your edge.

You may not make huge sums in one trade, compared to account balance, but you dont need to if you just keep compounding.
  • #2,095
  • May 10, 2011 4:22pm May 10, 2011 4:22pm
Quoting olegy
usd/cad daily short
any comments ?
I expect some pairs will present daily by-the-system opportunities today...
U/C should be one of the better ones (if no big events spoilng it )

fun
  • #2,096
  • May 10, 2011 4:28pm May 10, 2011 4:28pm
Quoting olegy
usd/cad daily short
any comments ?
I'm with you and seams to be valid entry! of course a big damn bounce as I did at .95585 and will exit if we go to .95906. theres a lot of room below in the channel with the usd index beginning to fail again...Good luck!
Chilly
  • #2,097
  • May 10, 2011 4:32pm May 10, 2011 4:32pm
Quoting eelfranz

I take the best trade set ups... I got the patience of Job and Moses...
.
Quite possibly the main key to success in trading!
  • #2,098
  • May 10, 2011 4:57pm May 10, 2011 4:57pm
Quoting Chillypiper
I'm with you and seams to be valid entry! of course a big damn bounce as I did at .95585 and will exit if we go to .95906. theres a lot of room below in the channel with the usd index beginning to fail again...Good luck!
Chilly
Noob here!
Do you guys consult other timeframes before taking a position?
If you do, then which ones? The W1 U/C looks like it is indicating Longs...
and the H4 shows a mild slope with Stoch heading into O/S territory (although clear separation between the TDI lines and still in Short)

Just trying to see how the pros think!
  • #2,099
  • May 10, 2011 5:35pm May 10, 2011 5:35pm
Can anybody tell me how to set up magic number so I can separate this system from others
  • #2,100
  • May 10, 2011 5:47pm May 10, 2011 5:47pm
Quoting check2011
Noob here!
Do you guys consult other timeframes before taking a position?
If you do, then which ones? The W1 U/C looks like it is indicating Longs...
and the H4 shows a mild slope with Stoch heading into O/S territory (although clear separation between the TDI lines and still in Short)

Just trying to see how the pros think!
This a short trade from the daily chart (long term hopefully) sell limit filled, just below support, that fills the basic 'Simple Trading Method' ( read the threat 4 times now)To include a hundred other things, coupled with over a thousand or so hours of watching this screen. And I'm still learning too,no pro here, YET !

Cuz.... I'm diffidently not lucky and trying to be smart...

Here's what I saw at the daily chart, and I do look at 1h and 4H prior to making the trade
Attached Image (click to enlarge)
Click to Enlarge Name: ucdaily.gif Size: 32 KB
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