Menu
Sister Sites

Options

Bookmark Thread

First Page First Unread Last Page Last Post

Print Thread

Similar Threads

Monitor for 'Trading Made Simple' system 553 replies

Trading Made Simple the right way, and other trading lessons 318 replies

MTF Indicators for the 'Trading Made Simple' system 240 replies

Indicators for the 'Trading Made Simple' system 342 replies

Trading Made Simple system follower - Thanks to eelfranz 9 replies

Attachments: Trading Made Simple
Exit Attachments

Trading Made Simple

Hi Eelfranz,

When I read this thread, I'm looking at your post #1981 on Page 133.

I still wonder why did you take that short position while the previous candle seems so small. In order to see what you see that time, I erased the candles after that small candle to feel what you see when the new candle opening and you decided to take short position.

I upload the 3 pictures that could give a brief picture of the situation that time. Please have a look and thanks for your attention on my question.

The first picture is when you talked on the post #1981 shows your exit.
The second picture is showing small candle on the picture.
The third picture : when I erased all the candles to see what you see when you entered position.

Cheers,
Vio
Attached Images (click to enlarge)
Click to Enlarge Name: eelfranz.gif Size: 24 KB Click to Enlarge Name: E1.gif Size: 29 KB Click to Enlarge Name: E2.gif Size: 34 KB
Quoting SteveT
Can anybody tell me how to set up magic number so I can separate this system from others
You mean like this?

http://ts3.mm.bing.net/images/thumbn...02de613e0fdfea
Here's an update of the usdjpy trade I was in earlier..

Daily formed a crossed and is looking good.. +70 pips s/l at BE +15
Attached Image (click to enlarge)
Click to Enlarge Name: Picture 17.jpg Size: 154 KB
I take 3 transactions today using Big E method. I use TF D1, and i don't use SL/TP, BUT:
1. I will check the result tomorrow when new candles formed. If the TDI give a signal to exit, i will exit (even if it still floating loss), but if in contrary, i will keep the transactions open
2. My margin is strong enough to hold the transactions, even if i failed on that 3 (only until next candles formed !)

I will attach the charts only if any of the transaction going failed, so we can learn together from my mistake.
Since i'm using TF D1, i'll try not to be frustrated with any news come up. As Big E says: keep it simple, no stressful trading
Attached Image (click to enlarge)
Click to Enlarge Name: 2.jpg Size: 51 KB
Nice one Chilly. Wanted something a little more managable
Quoting Dyekid217
Here's an update of the usdjpy trade I was in earlier..

Daily formed a crossed and is looking good.. +70 pips s/l at BE +15
SWEET! No H&S there...yet.. I wonder if the gap will ever get filled that happen form the Quake and Sonimmie (sp)?
this one may be premature.. but daily looks to be exausting on the sell side. Took an entry based off the 4 hr TDI. weak 1 o'clock
Attached Image (click to enlarge)
Click to Enlarge Name: Picture 18.jpg Size: 166 KB
Quoting eelfranz
Shocking Revelation -

I've never used money management rules like most people use it... 2-3% on a trade... never seemed to fit my personality and I'm sure it's frustrated more than a few of you out in Forex Land...

[font=Comic Sans MS][size=3][color=#0000ff]Most of my trades use from 15-30% of my account... why? That's where I feel most comfortable trading.... and why one of[u] MY PERSONAL RULES is to exit the trade...

Gotta love your style, Grand Poopaw. Just love it! To take that much risk. The 1-2% risk is one of the rules being taught in another forum I was in. It makes a lot of sense when starting out and one knows diddly squat.

You have a great batting average and your losses are minimal. To trade with 2% or less risk in your case would be dumb, a waste of your time. I can picture increasing my risk down the road as I get better with your TMS method.

Since I came across your thread a week ago I feel a major shift in the way I look at trading. It’s an understatement to say your thread is a Godsend.
Quoting Dyekid217
this one may be premature.. but daily looks to be exausting on the sell side. Took an entry based off the 4 hr TDI. weak 1 o'clock
Gl, that baby took a 150+ pip run last time it was there.


PS.. carefull still choppy down there.
yeah... I would prefer to wait for a cross on the daily but the 4 hr looks pretty damn good atm.. nice large body. Gonna wait to see where the next 4 hour closes
Quoting SteveT
Can anybody tell me how to set up magic number so I can separate this system from others
magic numbers are used by EAs(expert advisors) in order for the robot to know which trades belong to it. You need to write a trade comment and then click to the comment heading to group them together.
Kind Regards
Crude Light from the 1st week in Jan. Never seen a chart like this in all the years I've been trading.
Attached Image (click to enlarge)
Click to Enlarge Name: crude light.gif Size: 18 KB
Thanks Astral77
Trading does not get much simpler than this.
I trade with price action but this sets a new level of entry.
A suggestion to anyone struggling with this is to follow on a smaller time frame, 1min or 5 min,you can see how it works in fast action.
Anyone who has traded for a while knows charts from 1min to monthly have the same look and feel.
You will find this easier than looking backwards.
Hope this helps.
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!
If you read the thread, I think you'll find that Big E trades the other TFs, but does not habitually consult them before entering a trade. He has stated repeatedly throughout this thread (with tremendous benefit to me personally, I must add) that he spent two years designing this strategy with the #1 most important purpose to make it EASY.

Personally, I'm demo trading Jan and Feb GU H4 history now. I'm not checking any other TF, only trading crosses and bounces. The ONLY discretion I am using on entry decisions is whether PA looks choppy or not. So far I have completed 12 trades: 10 winners and 2 losers, for a net gain of 657 pips.

Everyone will trade their own style and I don't want to discourage you from that. But, in the interest of your own success, I would want to discourage you from adding ANYTHING to this method.

If I've misstated anything here, I know Eelfranz and others will correct me. (I certainly hope so, because otherwise I would not want to continue in my erroneous ways!)

Good trading, and mucho pips to you!
Luck occurs when preparation meets with opportunity.
It never hurts to quote the Grand Poopaw (from "Trading Made Simple," downloadable from this thread):

If you add other things it will influence your decisions... usually to your detriment. Don't try to complicate it thinking it can't be this easy. Hence the name Trading Made Simple.

Repetition is the foundation of learning.
Luck occurs when preparation meets with opportunity.
Quoting Incrediblle
Can any senior member who is following this thread pile up all the present rules of the system in word document and update it with pictures(like when to buy and sell signals at tdi) on the first post.its really messy to find out exact rules from the whole thread.

it will help a lot

thanx regards.
incredible,

If you want to be a trader, DO SOME WORK, and invest some blood,sweat, and tears like everyone else has. Everything you need is in the thread.

rustynail
Quoting Flamenco143
Crude Light from the 1st week in Jan. Never seen a chart like this in all the years I've been trading.
WOW! Pretty wild pattern and I think you gave me a balance or stuttering prob. now...LMAO!

Look at the TDI cross at entry...still a possitive piper...
Thank you for a most interesting thread.
After years of using complicated indicators I have decided to give an easier style a trial.
Peter
Someone asked for some info on this method all gathered in one place. Yes, it's in the thread, and I've read nearly all of it like most of you. But I'm a noob, and I need to keep repeating it to myself. And this is a HUGE thread - I was away at work for 10 hours today and there are over 150 new posts! That's a good thing...

Anyway, here are some links to some good posts by Eelfranz (and maybe others) for training. This isn't all of them, but these are good.

Training links:
Normal entries and bounces:
http://www.forexfactory.com/showpost...&postcount=161

Entry examples, with charts:
http://www.forexfactory.com/showpost...&postcount=115
http://www.forexfactory.com/showpost...&postcount=117
http://www.forexfactory.com/showpost...&postcount=137

Exit examples, with charts:
http://www.forexfactory.com/showpost...&postcount=123
http://www.forexfactory.com/showpost...&postcount=125
http://www.forexfactory.com/showpost...&postcount=128
http://www.forexfactory.com/showpost...&postcount=133

Good pipping to all!
Luck occurs when preparation meets with opportunity.
7 traders viewing now, 2 are members:
Josale71
,
sharemaster2