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Trading Made Simple

  • #2,341
  • Edited 6:39am May 12, 2011 5:40am | Edited 6:39am
Just want to give some info on trades I took Last night. Can post charts in needed but pretty straight forward. Took trades on AUDCAD short AusUsd Short AudNzd Short GbpAud Long. All were off of a Daily Signal to enter a trade by the rules ( 8pm est IBFX platform) Set a Hard TP at 50pips per lot and SL at 50 all Tp's were hit for approx. 200pips per lot. Took a H4 signal (4am Est Oanda Platform) on GbpJpy short , set a hard Tp at 60 pips per lot and 50 Sl. Tp was also hit for 60 pips per lot. So I start the day with 260 pips per lot in the account while I slept. Thanks Big E


Take Care
Always Learning
  • #2,342
  • May 12, 2011 5:46am May 12, 2011 5:46am
Quoting adeforex
I learnt from your chat that you really follow major daily/weekly trends. thats nice results
I don't complicate things. I just trade the cross and TDI angle. In overall, you will make some losses but big winners in the end. There is no such thing as holy grail.

Keep on practising!
  • #2,343
  • May 12, 2011 5:49am May 12, 2011 5:49am
Quoting Defiant
Dean do you use trailing stop..if you do how much and how do you determine it?

Also how do you place TP?

Cheers
I only trail if I am not going to be here other than that I prefer to exit myself and it is usually determined by the SL I have. Ideally a 3:1 RR works for me but every trade is different and somethimes when the pips come easily I just take them before it reverses on me and look for another trade. ITs really personal all this stuff...so you need to determine your own risk level.....not easy I know. I am pretty new so I still spend a lot of my time getting out to early or having it reverse quickly on me and panicking....this is why I have come up to the longer timeframes...to avaiod all that.
  • #2,344
  • May 12, 2011 5:50am May 12, 2011 5:50am
Quoting Chuckb
BRN and support at 1.4000..Looking exhausted but forecast are bearish.
thanks for the tip, much appreciated.
  • #2,345
  • May 12, 2011 5:53am May 12, 2011 5:53am
Quoting ToeCutter
Nah, missed this. I don't hate it, but might have missed the train. Nice little bounce on the 4H, yeah, and you know price can move quite a bit with -20 reading on stoch. Quick looksee and I notice it's sitting right atop significant support level from early November last year. Just sayin'.

Also, 1H candle forming a pin bar off daily S2 (Fibo Piv) FWIW. Still, it's only 20min into the hour. Things will change.

Good luck with it . Me, I need to clear my head. Can't make heads or tails of things at the moment. Still at least another...
Speak english will ya
I see the resistance you are talking about....I am tossing up whether or not to take tha cash actually.....not a fan of staying in when it seems to stall a bit
  • #2,346
  • May 12, 2011 5:59am May 12, 2011 5:59am
Quoting ToeCutter
Nah, missed this. I don't hate it, but might have missed the train. Nice little bounce on the 4H, yeah, and you know price can move quite a bit with -20 reading on stoch. Quick looksee and I notice it's sitting right atop significant support level from early November last year. Just sayin'.

Also, 1H candle forming a pin bar off daily S2 (Fibo Piv) FWIW. Still, it's only 20min into the hour. Things will change.

Good luck with it . Me, I need to clear my head. Can't make heads or tails of things at the moment. Still at least another...
Another thing I tend to find swings things a lot is the session open, so thinking that since it can only go two ways.....I taking a guess it is more likely to go south when the US opens......hopefully. So might just monitor it closely till then and see what happens
  • #2,347
  • May 12, 2011 6:00am May 12, 2011 6:00am
Thanks BigE. One thing I have noticed.
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  • #2,348
  • May 12, 2011 6:04am May 12, 2011 6:04am
Quoting dean
I only trail if I am not going to be here other than that I prefer to exit myself and it is usually determined by the SL I have. Ideally a 3:1 RR works for me but every trade is different and somethimes when the pips come easily I just take them before it reverses on me and look for another trade. ITs really personal all this stuff...so you need to determine your own risk level.....not easy I know. I am pretty new so I still spend a lot of my time getting out to early or having it reverse quickly on me and panicking....this is why I have come up...
Thx for the info. I have personally used 15 pip trailing stop and I am encountering consistent flaw of this system. Almost always I hit TS and end up with less pips, which are hard earned pips after all .

Cheers
  • #2,349
  • May 12, 2011 6:11am May 12, 2011 6:11am
Quoting Defiant
Thx for the info. I have personally used 15 pip trailing stop and I am encountering consistent flaw of this system. Almost always I hit TS and end up with less pips, which are hard earned pips after all .

Cheers
Yeah it depends on which session you are in too....UK and US need a bit more room to move or you get stopped out easily, the asian session is much more timid and 15 would be fine, but the UK session can swing much more than that....tough one the old trailing stop.
  • #2,350
  • May 12, 2011 6:11am May 12, 2011 6:11am
  •  adeforex
  • Joined Aug 2008 | Status: Trading Live as a Professional Do | 363 Posts | Online Now
Quoting prof8t
Nice GBP/CHF trade cooking.... took 30 pips out on first position. Letting the other position ride from breakeven.
i entered the same trade, but am about to go out now, closed for just 3 pips profit. cant risk it for the coming news. good luck
What arrow you goton your HA? how can i get it?it may be useful as i see it
We Win Some, We Loose Some, But Let your Win Rates be More to be Successful
  • #2,351
  • May 12, 2011 6:22am May 12, 2011 6:22am
This is my result using Big E's method from May 4th, still need a lot of practice i think.
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  • #2,352
  • May 12, 2011 6:23am May 12, 2011 6:23am
some setups with divergence
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  • #2,353
  • May 12, 2011 6:47am May 12, 2011 6:47am
On behalf of myself and everyone here Big E....best wishes to you and hope you return well. Few and far between are the people that give out free advice and a genuine want to see others succeed and you have gone way beyond your calling. We all appreciate it and wish you well.
Dean
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  • #2,354
  • May 12, 2011 6:47am May 12, 2011 6:47am
just some thoughts. TDI certainly looks solid on backtesting. thx again BigE
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  • #2,355
  • May 12, 2011 6:51am May 12, 2011 6:51am
Quoting dean
On behalf of myself and everyone here Big E....best wishes Dean
Yes, thx BigE. Best of health to you.
  • #2,356
  • May 12, 2011 6:59am May 12, 2011 6:59am
Gerald,
Thanks for making this point...it can't be emphasized enough here on Big E's thread...

Simple is Profitable...

Good Trades...
Cliff

Quoting GeraldFX
I don't complicate things. I just trade the cross and TDI angle. In overall, you will make some losses but big winners in the end. There is no such thing as holy grail.

Keep on practicing!
I get exercise just pushing my luck
  • #2,357
  • May 12, 2011 7:14am May 12, 2011 7:14am
Not sure if this will help anyone. It helped me. I have spent many years looking at PA on bars/candles and not used HA. I would love to keep it simple and just use HA candles and maybe soon I can. But after spending so much time looking at OHLC candles and bars, not seeing them I felt "blind" as to what the market was telling me. I found that looking at the regular OHLC bars with HA candles behind still gives me the signals as per BigE's method but also allows me to feel what the market is doing using my understanding on regular PA analysis on OHLC bars/candles. I am not trying to alter the method or complicate it. I just found for me (at least for now), I am more comfortable with it. I still take trades exactly as per the rules. It just helps me with the PA analysis. If anyone else has the same struggle getting used to "reading" HA candles, it might be of assistance. Best wishes to all.
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  • #2,358
  • May 12, 2011 7:40am May 12, 2011 7:40am
I think what we have here is two sets of view points emerging. One is keep it really simple just trade the tdi crosses when pa looks good. The other view point is to add lots of extra indicators, fib levels, pivots etc. I think probably the best approach is somewhere in the middle keep it fairly simple, trade the tdi crosses but be mindful of s/r levels and trend, avoid flat pa and weak candles, and trades around red news.
  • #2,359
  • May 12, 2011 8:03am May 12, 2011 8:03am
Quoting ToeCutter
Maybe not the forum to respond to what I believe is a rather subjective topic....
Cheers mate, will look for msg.
  • #2,360
  • May 12, 2011 8:10am May 12, 2011 8:10am
Is there a way to send a private message to an individual. It isn't derogatory or anything. It is just information about a particular broker that they might find interesting. I just don't want to defame a broker on this website. But there are brokers out there that take the other side of the trade. makes it harder to win at trading. Love this system so far, looking forward to sharing some trades with you guys.
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