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Trading Made Simple

  • #2,221
  • May 11, 2011 10:42am May 11, 2011 10:42am
Quoting live2wrshp
Just took this position. Any feedback would be helpful.
(post
#2213)

I probably would have passed, it was against the 4HR/Daily and monthly trend (weekly was kind of flat).

Last reversal kind of weak. Setup candle and TDI could have better.
It looked like it went about 20 ish pips before TDI signalled an exit on the next candle, not a classic but you probably made some pips or got out with a small loss if you monitored it closely.

It actually just looks its starting to move short again - might be a good one after all
  • #2,222
  • May 11, 2011 10:45am May 11, 2011 10:45am
Been a while since I've posted around here. Been trading for many years now, recently with moderate success. Played the indicator game (gave it a million unsuccessful attempts), and for the last year have been indicator free using the teachings of James16.

Every once in a while I come back to FF to see what's up. Saw this thread and studied it for the past few days. Decided to give the method a try (against my better judgement based upon previous trading based upon indicators). So I hope to hang around to give it a fair assessment.

I risk 2% of my account per trade. I don't demo trade because I believe that the emotional side of trading far outweighs the technical side. Therefore, IMHO, demo trading is not sufficient. I recognize that all don't share my viewpoint, but I just thought I'd give my perspective.

Profited from two trades last night:

G/U +119 pips, ~6% gain
E/G +62 pips, ~4% gain.

I almost wish I would have lost because now I'm having unrealistic visions of sitting on the beach sipping fruit cocktails from the millions I'm going to make using this approach!

Thanks to all who have built this thread. I'm anxious to see if I can put it to good (profitable) use.
  • #2,223
  • May 11, 2011 10:53am May 11, 2011 10:53am
Quoting DocPMD
Been a while since I've posted around here. Been trading for many years now, recently with moderate success. Played the indicator game (gave it a million unsuccessful attempts), and for the last year have been indicator free using the teachings of James16.

Every once in a while I come back to FF to see what's up. Saw this thread and studied it for the past few days. Decided to give the method a try (against my better judgement based upon previous trading based upon indicators). So I hope to hang around to give it a fair assessment.

I risk 2%...
Excellent work share your charts, mark your entries.
  • #2,224
  • May 11, 2011 10:54am May 11, 2011 10:54am
Quoting 2scoops
Excellent work share your charts, mark your entries.
I would except I'm at work .

Forgot to mention that they were off the 4hr charts.
  • #2,225
  • May 11, 2011 11:21am May 11, 2011 11:21am
Just made a couple entries on a few pairs, at the 4H TF. Comments?
CADJPY
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GBPJPY
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USDCAD
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USDJPY
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  • #2,226
  • May 11, 2011 11:26am May 11, 2011 11:26am
Quoting DocPMD
Been a while since I've posted around here. Been trading for many years now, recently with moderate success. Played the indicator game (gave it a million unsuccessful attempts), and for the last year have been indicator free using the teachings of James16.

Every once in a while I come back to FF to see what's up. Saw this thread and studied it for the past few days. Decided to give the method a try (against my better judgement based upon previous trading based upon indicators). So I hope to hang around to give it a fair assessment.

I risk...
I will follow your posts...to see how you do with this new toy
Trade responsiblypatience is the key/Swing trader
  • #2,227
  • May 11, 2011 11:29am May 11, 2011 11:29am
Quoting live2wrshp
I just got out of the GBP/USD trade due to the TDI going flat. Would this be a correct exit?
I would have exited as soon as I got a red HA candle, signalling a reversal of trend.
  • #2,228
  • May 11, 2011 11:32am May 11, 2011 11:32am
Anyone else having fun with the Yen crosses at the moment?
  • #2,229
  • Edited 11:51am May 11, 2011 11:33am | Edited 11:51am
Currently up +123 pips on the EU, with pips locked in, hoping it keeps dropping.

I'd post charts, but busy watching it and locking in profits.

Went live this morning with $2.00 per pip. As I've practiced with this for the past couple of weeks and I'm pretty sure I get it. I decided to go live as so far it's been my experience with the method that the TDI will very often keep you in for good trades and tell you when to get out of losers early.

(I've been live many times before and trading for years, so I dont need to be warned about going live)

I'd like to give a big thank you to eelfranz for presenting a very simple method, that so far works very well. Thank you so much for sharing.
  • #2,230
  • May 11, 2011 11:34am May 11, 2011 11:34am
Quoting mackaozy
I would have exited as soon as I got a red HA candle, signalling a reversal of trend.
I wish I would have had that info on several of my trades today. Would have allowed me to stay in a few for over 200+ pips
  • #2,231
  • May 11, 2011 11:37am May 11, 2011 11:37am
Quoting DocPMD
Been a while since I've posted around here. Been trading for many years now, recently with moderate success. Played the indicator game (gave it a million unsuccessful attempts), and for the last year have been indicator free using the teachings of James16.

Every once in a while I come back to FF to see what's up. Saw this thread and studied it for the past few days. Decided to give the method a try (against my better judgement based upon previous trading based upon indicators). So I hope to hang around to give it a fair assessment.

I risk 2%...
Tottally agree. I've been all over FF and other forums looking at different methods. I didn't give up on indicator methods because I am visual and price action driven. Myself I dont like staring and candles and judging price action just on pin bars and dogis and such. So, I've still been looking for a simple indicator method.

Also, on the demo thing, I'll second your opinion. IMO demo trading is next to worthless. Do it for a week to learn the nuts and bolts of a method, then open up a live account and trade at 1 cent a pip. At least you are trading in a real market then.

1 cent a pip is how I test new thing/methods/ideas.
  • #2,232
  • May 11, 2011 11:52am May 11, 2011 11:52am
Quoting mackaozy
I would have exited as soon as I got a red HA candle, signalling a reversal of trend.
There was actually a really good bounce trade on that pair just after I posted.
  • #2,233
  • May 11, 2011 12:09pm May 11, 2011 12:09pm
Just closed EU for +143 pips.

Still going:
EG +101
AU +72
UC +59
EC +25

Mind you I closed quite a few bad ones. So far banked today +245 win -169 losses (most were silly mistakes) = +76 pips banked and +257 floating.

Perhaps a bit too good for my first few attempts or is it luck
  • #2,234
  • May 11, 2011 12:16pm May 11, 2011 12:16pm
Quoting Zr-fx
Just closed EU for +143 pips.

Still going:
EG +101
AU +72
UC +59
EC +25

Mind you I closed quite a few bad ones. So far banked today +245 win -169 losses (most were silly mistakes) = +76 pips banked and +257 floating.

Perhaps a bit too good for my first few attempts or is it luck
It's not luck. You caught a good trend/move.
  • #2,235
  • May 11, 2011 2:20pm May 11, 2011 2:20pm
I had to get up at 3AM (MST) for work.....spotted a crossover on EU on the 4 hr chart and opened the trade. Moved to 1 hr chart at about 6AM (at work using my scan disk) and checked on the trade when I could, locking in profit each time, until the TDI flattened out......as Big E would say "Easy Money"......out with 196 live pips on 1 full lot......Thanks Big E for all the work you did to perfect this method and graciously share with everyone. Keep it simple guys....no need to check other time frames or add other indicators.....this works over and over reading price action and the TDI cross!!!
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  • #2,236
  • May 11, 2011 2:21pm May 11, 2011 2:21pm
Our friends outside the USA....

I believe the London Session is the best sesson to trade... The only reason I trade it on the 4hr charts because that's my normal sleep time. I put my S/L at the previous swing hi or low... so if it swings up and down 30 pips let say... I'm unaware of it because I'm sleeping.

If my normal traing hours included the London Session I'd trade it on the 1hr charts. Then I'd trade the first couple of hours on the N.Y session on the 1hr charts too. Then I'd be off the charts until an hour or two before the London Session...

Put the odds in your favor for success... It's like looking for the best set ups only... odds in your favor again.
  • #2,237
  • May 11, 2011 2:48pm May 11, 2011 2:48pm
Quoting eelfranz
Our friends outside the USA....

I believe the London Session is the best sesson to trade... The only reason I trade it on the 4hr charts because that's my normal sleep time. I put my S/L at the previous swing hi or low... so if it swings up and down 30 pips let say... I'm unaware of it because I'm sleeping.
...
would you be able to post the exact time frames you trade? And you're on pacific time right?
  • #2,238
  • May 11, 2011 3:04pm May 11, 2011 3:04pm
Quoting Phx62
I had to get up at 3AM (MST) for work.....spotted a crossover on EU on the 4 hr chart and opened the trade. Moved to 1 hr chart at about 6AM (at work using my scan disk) and checked on the trade when I could, locking in profit each time, until the TDI flattened out......as Big E would say "Easy Money"......out with 196 live pips on 1 full lot......Thanks Big E for all the work you did to perfect this method and graciously share with everyone. Keep it simple guys....no need to check other time frames or add other indicators.....this works over...
love that indicator in top left. where can i find it?.............vince
  • #2,239
  • May 11, 2011 3:17pm May 11, 2011 3:17pm
Damn guys, slow down please.. I am reading this thread from the begining, but while I read a single page there are two new upcoming. That simply means I would never catch the headlines :-)

Anyway, just kidding. Nice and easy aproach, I like it. I am working on a TDI scanner /although you can scan for any indi with it/, scanning symbols and timeframes of choice, fire alerts, etc.

Keep it up! I am back to page 20 or something :-)

Plamen
Bah...
  • #2,240
  • May 11, 2011 4:48pm May 11, 2011 4:48pm
Eelfranz,
This might have been answered already and i appologize in advance if it has. When trading on the 1hr time frame do you avoid trades during only high news impact?
Many thanks,
Juls.
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